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Nigerian Leader Meets With Economic Team

President Bola Ahmed Tinubu on Tuesday held a closed-door session with key members of his economic and fiscal policy team at the State House, Abuja, amid intensified efforts to drive economic recovery and energy sector reforms under the Renewed Hope Agenda.

Those in attendance included the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; Minister of Budget and Economic Planning, Senator Atiku Bagudu; and Minister of State for Petroleum Resources (Gas), Mr Ekperikpe Ekpo.

Also present were the Governor of the Central Bank of Nigeria, Mr Olayemi Cardoso; Executive Chairman of the Federal Inland Revenue Service, Dr Zacch Adedeji; and the Director-General and Global Liaison for the Nigeria-China Strategic Partnership, Mr Joseph Tegbe.

The top government officials arrived separately at the State House for what appeared to be a routine presidential briefing — a standard protocol for such high-level consultations.

The meeting comes as the Tinubu administration sharpens its focus on fiscal consolidation, economic stabilisation, and reforms within the oil and gas sector.

PIAK

Nigerian Army, NEMA Strengthen Partnership on Disaster Response

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The 6 Brigade of the Nigerian Army has deepened its partnership with the National Emergency Management Agency (NEMA) to enhance disaster management efforts in Taraba State and across the Northeast.

Brigade Commander, Brigadier General Kingsley Uwa, commended NEMA for its role in mitigating disaster impacts and delivering humanitarian assistance nationwide.

“NEMA’s role in cushioning the impact of disasters is commendable, and 6 Brigade remains ever ready to support your operations whenever the need arises,” he stated.

General Uwa remarked when NEMA’s Northeast Zonal Director, Mr Yakubu Lawal, led a delegation on a courtesy visit to the Brigade Headquarters in Jalingo, Taraba State.

Mr Lawal lauded the Nigerian Army’s vital contributions to national emergency and disaster response, particularly its critical support during the 2024 flood emergency in Borno State.

He also warned of early flood risk projections in parts of Taraba and Adamawa States due to anticipated heavy rainfall, stressing the importance of sustained collaboration with the Brigade to mitigate potential threats.

The visit, according to 6 Brigade spokesperson Captain Oni Olabundunde, ended with an exchange of souvenirs, signing of the visitors’ book, and a group photograph to commemorate the occasion.

“By fostering this partnership, the 6 Brigade Nigerian Army and NEMA aim to enhance disaster response efforts and promote a safer environment for communities in Taraba State and the Northeast region,” Captain Olabundunde stated.

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Media Vital to Democracy, National Growth – Stakeholders

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Stakeholders have reaffirmed the indispensable role of the media in safeguarding democracy and advancing national development, describing it as a powerful amplifier of citizens’ voices and a watchdog for good governance.

Secretary to the Government of the Federation, George Akume, stated this in Abuja at the Blueprint Public Lecture, Impact Series, and Awards.

Akume said the media remains a critical pillar in democratic societies, playing a dual role of empowering citizens and curbing governmental excesses.

“In every thriving democracy, the press stands as an unyielding guard against governmental excesses, empowering citizens through informed reportage and investigative journalism,” he said.

He emphasised that the media’s relevance extends beyond politics, highlighting its role in shaping public discourse, promoting civic engagement, and holding institutions accountable.

“The media guards the conscience, informs public opinion, shifts discourse, and holds leaders accountable,” Akume said.

He added that the media also promotes innovation and highlights solutions capable of inspiring national progress.

“Most importantly, the media promote solutions, innovations, and recognise such stories that can inspire progress across all sectors,” he said, while commending President Tinubu’s administration for recognising the significance of the media’s role.

On the lecture theme, “Exploring the Potentials of Livestock Exports,” Akume said it aligns with the government’s renewed focus on the livestock sector’s capacity to drive industrial growth, foreign trade, and address national challenges.

“The establishment of the Federal Ministry of Livestock Development clearly underscores the importance the president attaches to unlocking the vast potentials in this sector,” he said.

Akume noted that despite Nigeria’s abundant livestock resources, the country is yet to fully harness opportunities in meat, dairy, hides, skins, and processed exports.

“This government is assured that through ongoing strategic investment, infrastructure development, value chain enhancement, and regional trade facilitation, livestock shall become the cornerstone of Nigeria’s socio-economic transformation, especially in rural communities,” he said.

He also congratulated the awardees, acknowledging their contributions to national development and public service.

“Your contributions to national development, sectoral excellence, and public service are deeply appreciated,” he said.

Chairman of the occasion and Minister of Solid Minerals Development, Dr Oladele Alake, challenged journalists to master diverse fields, insisting that the profession demands both breadth and depth of knowledge.

“The nature of the profession demands a breadth and depth of knowledge across countless domains to effectively educate and influence public opinion,” Alake said.

He expressed disappointment at the decline of verification in media practice, particularly with the rise of unregulated social media platforms.

“One major concern is the increasing tendency to disseminate information without proper verification,” he said, warning that this trend has eroded journalism’s credibility.

Alake blamed the unchecked rise of social media for diluting professional standards.

“This democratisation of media space has eroded the standards and reliability once associated with professional journalism,” he said.

Managing Director and Chief Executive Officer of Blueprint Newspapers, Malam Salisu Umar, said the theme resonates with Nigeria’s aspirations to leverage livestock development for industrial growth, job creation, trade expansion, and security enhancement.

“The initiative underscores the pivotal role livestock can play in driving socio-economic progress,” Umar said.

He praised the awardees for their distinguished service to the nation.

“Choosing the awardees was a highly challenging task, akin to finding a needle in a haystack — but the selection team carried out this responsibility with integrity and diligence. The awardees come from diverse backgrounds, and their excellence, commitment, and impact on the nation are being honoured with well-deserved accolades,” he said.

Umar congratulated Blueprint’s board, management, and staff, encouraging them to sustain their commitment to national development.

“It is hoped that this honour will inspire them to do even more in contributing to Nigeria’s growth and advancement,” the MD/CEO added.

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Osun Mega Expo to Attract 2,000 Participants – Commissioner

Osun State Commissioner for Culture and Tourism, Mr. Abiodun Ojo, has announced that approximately 2,000 participants are expected to attend the inaugural Osun Extravaganza and Mega Expo.

Speaking at a press conference on Tuesday in Osogbo, Ojo said the estimate is based on the anticipated influx of visitors for the grand finale of the Osun-Osogbo Festival, which is scheduled to hold a day after the two-day event.

He noted that the state government is intensifying awareness efforts to ensure maximum participation and visibility for the cultural showcase.

“It is expected that participants will take advantage of the expo to also attend the grand finale of the Osun-Osogbo Festival on 8 August.

The expo is scheduled to take place from 6 to 7 August.”

“The Osun Cycling Tourism Challenge and Youth Tourism Challenge will take place on the first day of the event.

“Day two will be for historical tour of Osun, corporate business presentation and business networking, and cultural/total theatrics performance and award night,” he stated.

He explained that Extravaganza and Mega Expo is a premier platform for connecting indigenous people/communities, industry leaders, innovators, entrepreneurs, and tourism professionals from across Nigeria and the African Continent.

“Set to display the rich cultural tapestry and natural beauty of Osun State, this expo will redefine the future of tourism in our region.
“As global trends continue to shift towards sustainable tourism, authentic cultural experiences, and innovative travel solutions, we believe the time is now to position Nigeria and Osun in particular at the heart of Africa’s tourism renaissance,” he said.

He said that the state government needs partnership with spirited individuals and corporate bodies to grow and develop its tourism potentials, saying tourism is not a one-man show.

Also Read: Osun state launches ‘Adire revolution’

“We invite tourism operators, hospitality brands, travel agencies, cultural institutions, tech innovators, and creatives from across the continent to be a part of this transformative experience.

“We invite you all to join us as we spotlight Osun’s tourism potential and collaborate to build a more inclusive, vibrant, and globally competitive tourism industry,” he said.

The maiden Osun Extravaganza and Mega Expo falls within the annual Osun-Osogbo Festival week.

The commissioner described the combination as “a tactically calculated strategy” by the state government.

Stakeholders Urge Conduct of Census to Harness Demographic Dividend

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Stakeholders in Nigeria’s population sector have called on the Federal Government to urgently conduct a National Population and Housing Census, insisting it is critical to harnessing the country’s demographic dividend.

The call was made in Abuja during an event to commemorate the 2025 World Population Day, where participants stressed that credible demographic data is essential for national planning and sustainable development.

Chairman of the National Population Commission (NPC), Mr. Nasir Kwarra, said although the World Population Day is globally observed on July 11, Nigeria must reflect deeply on the significance of this year’s theme — “Empowering Young People to Create the Families They Want in a Fair and Hopeful World.”

Kwarra noted that investing in young people and protecting their reproductive rights and aspirations remains one of Nigeria’s most pressing development priorities.

He warned that while global population growth is slowing and ageing populations are a concern in many countries, Nigeria’s youthful population presents both a challenge and a unique opportunity.

“More than 60% of Nigeria’s population is under the age of 30 — that’s over 130 million young people whose dreams, potential, and aspirations must be at the centre of our national development agenda,” he stated.

Kwarra said Nigeria’s youth — defined in the Nigeria Youth Policy (2024-2028) as those aged 15-29 — constitute 28.9% of the population, estimated at 64.4 million people.

“These are not just statistics. They are our students, our workers, and our future leaders. This is not a crisis, but a powerful opportunity. If properly harnessed, this demographic structure can drive innovation, productivity, and inclusive growth,” Kwarra emphasised.

He urged stakeholders to prioritise investments in quality education, skills development, sexual and reproductive health, family planning, and governance reforms that foster youth participation.

Kwarra said the 2025 State of World Population Report shows young people globally are not simply opting for fewer children by choice but are often constrained by uncertain futures, limited access to healthcare, education, employment, and affordable housing.

He stressed that Nigeria must tackle these concerns with empathy, innovation, and data-driven solutions, adding that development partners, civil society, and the private sector have a role in creating fairness, opportunity, and intergenerational equity.

The NPC Chairman reaffirmed the Commission’s commitment to generating accurate and disaggregated population data to support evidence-based policies, saying Nigeria’s future hinges on empowering its young people.

“Together, we can make Nigeria not just a youthful nation, but a hopeful one,” he said.

UN Population Fund (UNFPA) Country Representative, Mr. Koesan Kuawu, also called for urgent family-friendly policies and investments in youth, reiterating the need for a national census to guide Nigeria’s development.

Similarly, Chairman of the House Committee on National Identity and Population, Mr. Okunjimi Odimayo, urged President Bola Ahmed Tinubu to ensure the conduct of a national census, describing it as vital for credible data, national planning, and sustainable growth.

PIAK

Commodities Exchanges, Warehouses Can Unlock $500bn

The Director General, Securities and Exchange Commission (SEC), Dr. Emomotimi Agama has disclosed that by formalising Commodities and Warehouse receipts the capital market can unlock $500 billion in dormant agricultural and mineral assets.

Dr Agama who stated this at a national workshop of the Chartered Institute of Stockbrokers in Abuja on Tuesday, said the move would transform them into tradeable securities.

He noted that would help the economy diversify from the oil and gas industry, and create wealth for the country.

Agama explained that the Investments and Securities Act 2025 has empowered the SEC to take decisive actions to promote the sector.

“The Act sharpens the SEC’s
regulatory focus, ensuring it operates with the precision and authority
required to steward a rapidly expanding market”, he stated.

He added: “Today, I speak not just about the Investments and Securities Act (ISA) 2025 as a legislative milestone, but as a strategic blueprint to propel Nigeria into the league of top global economies.

“This Act is not merely an update—it is a revolution. It dismantles legacy
constraints, embeds global best practices, and positions our market as the engine room for national prosperity. The question before us is no longer if Nigeria can achieve a $1 trillion economy, but how soon—and the capital market, under this new Act, will be the accelerant”.

The SEC DG stressed that the Commission “now has explicit powers
to shut down Ponzi schemes and prosecute offenders—ending the era
of “get-rich-quick” scams that erode market confidence.

“Investors are now covered for
losses from revoked dealer licenses—a long-awaited safeguard that will boost participation. Trust is the currency of our capital markets. Without it, liquidity dries up”.

 

 

 

 

Hauwa Abu

Gombe Governor Disburses N2.06bn to Retirees, Inaugurates Boards

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Governor Muhammadu Inuwa Yahaya of Gombe State on Tuesday disbursed ₦2.06 billion in gratuity payments to over 1,000 local government retirees, pushing total payments since 2019 to ₦25.626 billion.

The governor also inaugurated newly reconstituted statutory boards and commissions to strengthen institutional service delivery across the state.

Speaking at the gratuity payment event, Governor Yahaya described settling retirees’ entitlements as a “sacred duty”, adding that his administration inherited over ₦21 billion in unpaid gratuities from previous governments.

“Through disciplined financial management, we have cleared inherited arrears and commenced payment of obligations accrued under our administration,” the governor said.

According to him, the state targets complete clearance of gratuity liabilities by 2027 through quarterly disbursements and prudent fiscal planning.

Governor Yahaya said the latest payments were based on each local government’s financial capacity, with retirees from Kwami, Nafada, and Funakaye LGAs receiving payments for 2023, while Akko, Billiri, and Shongom settled those from 2016 and 2017. Other LGAs such as Dukku, Balanga, Gombe, Kaltungo, and Yamaltu Deba will cover retirees from earlier years, dating back to 2014.

Chairman of the Committee on Payment of Gratuities and State Auditor-General, Mr. Muhammad Buba Gombe, commended the governor for clearing backlogs that past administrations ignored.

He urged retirees to deploy the funds wisely to sustain their livelihoods post-service.

Speaking on behalf of the beneficiaries, Malam Umar Abdu Maude lauded the gesture, describing it as a “life-saving” move for retirees long neglected by previous governments.

“In the past, we were given false hopes. Many died of hunger and untreated health conditions. But today, we are smiling to the banks,” he said.

The event featured a symbolic cheque presentation to some retirees, including those who left service as far back as 2014.

Meanwhile, Governor Yahaya, through the Secretary to the State Government, Professor Ibrahim Abubakar Njodi, also inaugurated newly reconstituted boards and commissions.

The SSG said the appointments reflect the governor’s commitment to inclusive governance, adding that the boards are key to public service delivery.

“We are confident that with their proven competence, these boards will rise to the occasion,” Prof. Njodi said.

He urged the appointees to bring dedication and professionalism to their mandates, assuring them of the government’s support.

PIAK

UNICEF Urges Kano State to Prioritise Child-Centred Budgeting

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The United Nations Children’s Fund (UNICEF) has urged the Kano State Government to prioritise the welfare and development of children in its budgeting and planning processes.

Chief of UNICEF’s Kano Field Office, Mr Rahama Rihood Mohammed Farah, made the appeal during a media dialogue on child-sensitive budgeting and planning in Kano State.

Mr Farah emphasised the urgent need for deliberate action to safeguard the well-being of children in the state, warning that Kano’s future depended on the strategic investment in child health, education, and protection.

“We must act urgently to prioritise the well-being and development of children in Kano State’s budgets and plans,” Mr Farah said.

The event, which convened government officials, civil society leaders, and media practitioners, underscored the critical role of budgeting in addressing pressing child-related challenges.

Mr Farah expressed concern over alarming rates of child mortality, malnutrition, and limited access to education in Kano, calling for a targeted response from policymakers.

He stressed the need for child-sensitive budgeting that allocates sufficient resources to vital programmes, ensures expenditure tracking, and delivers measurable outcomes.

“We need budgets that truly reflect the needs of our children — budgets that allocate sufficient resources to critical programmes, track spending, and report on outcomes,” he said.

Stakeholders at the dialogue issued a call to action, urging the Kano State Government to institutionalise child-sensitive budgeting, increase funding for child-focused initiatives, and enhance transparency and accountability in budget execution.

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Development Projects: Senate Clears President Tinubu’s $21.5bn Borrowing Plan

The Nigerian Senate on Tuesday approved President Tinubu’s external borrowing plan of $21.5 billion for the 2025–2026 period, paving the way for funding key national development projects.

The approval followed the presentation of a report by the Chairman of the Senate Committee on Local and Foreign Debts, Senator Aliyu Wamakko (APC-Sokoto), at plenary.

President Tinubu had asked the National Assembly to endorse the borrowing to finance critical sectors including infrastructure, security, education, health, agriculture, and human capital development.

Also approved were a ¥15 billion Japanese loan, a €65 million grant, and additional domestic borrowing of ₦757 billion through federal bonds to offset pension arrears as of December 2023.

The Senate further gave the nod to the President’s request to raise up to $2 billion through foreign-currency denominated instruments in the domestic market.

Senator Wamakko said the loan request aligns with the already approved Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for the 2025 budget cycle.

“The committee recommends approval, as the borrowing plan is within the framework passed by the National Assembly,” Senator Wamakko said.

Backing the motion, Senator Solomon Adeola (APC-Ogun) noted that the loans were embedded in the 2025 Appropriation Act, adding, “With this approval, all revenue sources, including loans, are now in place to fund the budget.”

Senator Sani Musa (APC-Niger) stressed that the loans would be disbursed over six years and assured that Nigeria had not defaulted on its debt obligations.

“No economy grows without borrowing. This follows global best practices,” Senator Musa said.

Senator Adetokunbo Abiru (APC-Lagos) said the facilities complied with the Fiscal Responsibility Act and the Debt Management Act, explaining, “These are long-term, concessional loans with favourable terms, some spanning up to 35 years.”

However, Senator Abdul Ningi (PDP-Bauchi) raised concerns over the absence of repayment details and how the loans would directly impact constituents.

“We must tell Nigerians exactly how much is borrowed in their name and for what purpose,” Ningi said.

Senator Victor Umeh (LP-Anambra) threw his weight behind the plan, commending the $3 billion earmarked for the eastern rail corridor.

“For the first time, I’ve seen such allocation for the eastern rail line—this alone justifies my support,” Umeh said.

Deputy Senate President Jibrin Barau (APC-Kano), who presided over the session, praised the committee’s work and assured that the plan reflects national inclusiveness.

“With this approval, implementation of the 2025 budget can begin in full. The funds must be strictly used for capital and development projects,” Barau said.

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CBN Retains Interest Rate at 27.50 percent

The Central Bank of Nigeria’s Monetary Policy Committee meeting has retained the interest rate at 27.50 percent.

The Governor of CBN, Olayemi Cardoso, disclosed this at the end of the 301st MPC meeting in Abuja on Tuesday.

He noted that all members of the MPC agreed unanimously to maintain the interest rate amid sustained moderation in the inflation rate, which stood at 22.22 percent in July.

MPC also retained the Cash Reserve Ratio (CRR) at 50 percent for Deposit Money Banks and 16 percent for Merchant Banks.

The committee retains the liquidity ratio (LR) at 30 percent and the asymmetric corridor at +500/-100 basis points around the MPR.

This comes after the apex MPC consecutively retained interest at 27.50 percent in February and May.

He predicated his stance on global inflation increasing and decreasing Nigerian inflation.

 

 

 

PR/Dailypost/Hauwa Abu