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ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA

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ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA

…As NEC appeals to organized labour to shelve planned strike

By: Michael Mike

The Vice President, Senator Kashim Shettima, has identified stability as one of the primes in the economic agenda of the Tinubu administration for the year 2024.

This is just as the National Economic Council (NEC) has appealed to the Organised Labour to shelve its planned strike, saying President Bola Tinubu remains committed to the welfare of Nigerian workers.

The Vice President stated that government at the federal, state and local government levels must remain committed to reevaluating their priorities, streamlining processes, and making bold decisions that would reflect key social issues, including social protection, social investment and nutrition.

Senator Shettima stated this on Thursday at the 136th meeting of the National Economic Council (NEC) held in the Council Chamber of the Presidential Villa, Abuja.

NEC, a statutory body that has the mandate to advise the President on the nation’s economic affairs, is chaired by the Vice President, with the Governors of the 36 states of the federation, the Governor of the Central Bank of Nigeria (CBN), Minister of Finance and other stakeholders as members.

In his opening address at the NEC meeting titled, ‘Planning for Stability: Our Agenda for Economic Growth in 2024’, Vice President Shetimma reminded the governors and other members of NEC that the weight of the tough decisions to rescue Nigeria’s economy depends on their cooperation and goodwill.

He noted that what has set President Bola Ahmed Tinubu apart as a Nigerian leader is the courage to embark on fixing the country’s economy through bold reforms.

Identifying stability as a major priority in next year’s economic agenda, the VP said, “It took courage to embark on fixing an economy hindered by decades of political lip service. But that’s what has set President Bola Ahmed Tinubu apart: his bold reforms to reposition the economy and save it from further erosion.

Other highlights of the meeting are as follows;

ACCOUNTS BALANCES:

Excess Crude Account: – $473,754.57

Stabilization Account – N34,936,868,803.58

Development of Natural Resources – N128,330,636,441.14

The Governor of Kogi State and chairman of the Committee on impact of Flood and Disaster Across the States in Nigeria, Yahaya Bello, categorized states based on degrees of damage.

He classified the states as:

Group A
States with over 15 points (most affected)
Anambra, Bauchi, Bayelsa, Benue, Borno, Kogi, Nasarawa, Niger, Rivers, Enugu, Kano, Oyo, Yobe, Zamfara
Group B
States with 10-15 points
Cross River, Delta, Jigawa, Kwara, Ondo
Group C
States with less than 10 points
Katsina, Abia, Adamawa, Akwa Ibom, Bauchi, Ebonyi, Edo, Ekiti, Gombe, Imo, Kaduna, Katsina, Kebbi, Lagos, Ogun, Osun, Plateau, Sokoto, Taraba, FCT.

COUNCIL RESOLUTION:

NEC resolved to develop a roadmap for intervention and directed NEMA to provide immediate intervention on relief to affected states. Roadmap to be developed and articulated by NEC with the Chairman of the Nigeria Governors Forum.

Presentation on the Joint Planning Board (JPB) And National Council on Development Planning (NCDP)

The presentation on the National Council on Development Planning (NCDP) and the Joint Planning Board (JPB) meetings serve as a platform for bringing together Senior Officials from Federal and State ministries, as well as other related Agencies responsible for Budget and Economic Planning, Representatives of the Organized Private Sector, the Academia, Development Partners and Civil Society Organizations to engage in in-depth discussions on economic policy issues, with a view to propose an optimal approach for enhancing economic management processes at both National and Sub-national levels.

B. Status Report on the Implementation of Key Resolutions of the 21st Edition of the JPB/NCDP Meetings

i. The FMBEP should collaborate with the States in the process of designing a template for harvesting the status of implementation of the JPB/NCDP resolutions, factoring the peculiarities of each State. i. The FMBEP should collaborate with the States in the process of designing a template for harvesting the status of implementation of the JPB/NCDP resolutions, factoring the peculiarities of each State.

C. Energy Sufficiency for Sustainable Economic Development: Options for Nigeria

i. Government at all levels should promote the migration of Heavy-Duty Industries/Transport systems from fossil fuel to Gas Infrastructure;

ii. Given the new Electricity Act that empowers States and individuals to participate in all components of the energy sector, State Governments should carry out energy audit to determine Energy needs and explore areas for collaboration with the private sector based on their comparative advantage; iii. States should develop small hydropower plants, on or off-grid, and solar, for communities and MSMEs; iv. The three tiers of Government should institute initiatives for the promotion of attitudinal change regarding energy use, wastage, and theft; and v. The government should promote Research and development, Local Content, New Energy (Hydrogen, Biofuels) Prototype Investments for energy sufficiency.

COUNCIL RESOLUTION:

Council noted that the meeting was successful and approved regular interaction and synergy among commissioners of Economic Planning across the federation.

PRESENTATION ON THE PRESIDENTIAL COMMITTEE ON FISCAL POLICY AND TAX REFORMS

The chairman of the Committee Mr. Taiwo Oyedele made presentation to the NEC on the fiscal policy and Tax Reforms, disclosing that the Committee was set up by His Excellency, President Bola Ahmed Tinubu, GCFR, to review and redesign Nigeria fiscal system with respect to:

(1) Revenue mobilisation, both tax and non-tax

(2) Quality of government spending and

(3) Sustainable debt management in addition, the committee will identify relevant measures to make Nigeria an attractive destination for investment and facilitate inclusive Economic growth.

Deliverables and outcomes

The expected outcomes from the work of the committee will include, but not limited to the following:

  1. Repeal of existing taxes and levies especially those that are suboptimal, obsolete or unduly burdensome and enactment of new harmonised tax laws;
  2. Preparation of a harmonised list of taxes and levies, not exceeding a single digit in number and covering all levels of government;
  3. Review of the 2017 National Tax Policy to produce a new National Policy on Tax and Fiscal Policy for ratification by the federal and state governments;
  4. A national fiscal risk framework for efficient fiscal governance, fiscal consolidation and stability;
  5. Draft bills for constitutional amendments on fiscal matters to promote fiscal federalism;
  6. Enhancements to the revenue administration system to improve revenue mobilization and a robust framework for tax revenue accounting and reporting to improve taxpayer trust;
  7. Establishment of National Office of Tax Ombudsman, Fiscal Policy and Tax Simplification.

COUNCIL RESOLUTION

Council noted the presentation

UPDATES ON PALLIATIVE DISTRIBUTION ACROSS THE STATES

The Governor of Kwara State, Abdulraman Abdulrazaq gave an update on the distribution of palliatives across the States. He told Council that members are making progress and urged them to re-double efforts as states looked forward for more interventions.

ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA

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NEDC Seeks Global Partners Support to Actualize North East Development Master Plan

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NEDC Seeks Global Partners Support to Actualize North East Development Master Plan

By: Michael Mike

The North East Development Commission (NEDC) has seek the assistance of global development partners for its North East Stabilization and Development Master Plan.

The Commission made available the Master Plan to global development partners at the Lake Chad Basin Commission (LCBC) headquarters at N’Djamena, Chad

This Master Plan is a framework of the NEDC to accelerate the regional recovery effort as it steps up sustainable implementation of programmes based on the needs of the six states of Adamawa, Bauchi, Borno, Gombe, Taraba and Yobe that constitute the North East region. The plan is in addition to humanitarian interventions and disaster support .

In N’Djamena, the Commission led by its Managing Director and CEO, Mohammed Alkali with his team met with the Executive Secretary of the LCBC, Amb. Mamman Nuhu who is also the Head of Mission of the Multi National Joint Task Force (MNJTF).

Alkali at the meeting, emphasized that the LCBC’s strategies for recovering the lake Chad basin are similar to those of the NEDC in the recovery of the Northeast region as contained in the Master Plan.

He noted that the NEDC views the LCBC as a strategic partner in the quest to actualise its developmental programmes as the regional body’s activities strongly impact on the states of the North East .

Executive Secretary LCBC, Amb. Mamman Nuhu on his part, said. “We certainly have a lot to do together so at our technical level we will come up with recommendations on how we can work together and form stronger partnership in order to pitch up the affected period already under Prolac which is called (in support of MCRP) it is called prolac in all the other countries except Nigeria where it is in support of MCRP and where we have been working closely with all the others, where we have the regional help”

Nuhu also pointed out that there is a window for everybody in terms of the nine pillars out of the 40 strategic objectives of the regional stablization strategy, every body can come in with a plan .

He said: “The only limitation we have is funding otherwise it is an excellent plan and it is adaptive. It is also inline with the Lake Chad Basin Commission Regional Stabilization Strategy which was developed in the year 2018”.

Among the MD/CEO’s delegation were the Executive Director Admin & Finance, Dr. Abubakar Garba Iliya, Prof. Umar Bobboi, National Cordinator MCRP, Prof. Mohammed Abbagana, Head, Research & Planning, Mohammed Umar Sani, Head, Resettlement & Early Recovery and Naomi Abwaku of the Commission’s Corporate Services Department.

The Delegation from the NEDC will also be in N’Djamena to attend the 3rd Annual International Forum on the Development of the Lake Chad Basin with the theme ‘Enhancing Local Governance and Social Cohesion for Socio Economic Development and Food Security in Changing in the Lake Chad Region’.

NEDC Seeks Global Partners Support to Actualize North East Development Master Plan

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SENATE COMMITTEE ON DEFENCE CONDUCTS OVERSIGHT VISIT TO AFCSC

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SENATE COMMITTEE ON DEFENCE CONDUCTS OVERSIGHT VISIT TO AFCSC

By: Our Reporter

The Chairman of the Senate Committee on Defence, Sen. Ahmad Lawan and his entourage conducted an Oversight Visit to the Armed Forces Command and Staff College (AFCSC) Jaji Kaduna on Monday, November 4, 2024. The visit, held at AVM AO Ogundana Officers’ Mess aimed to inspect and assess projects executed by the College.

In his address, the commandant AFCSC, AVM HI Alhaji welcome the committee. He further mentioned that the College was established with the mission to train tactical and operational level officers in standardized command and staff duties through professional military education to effectively accomplish the constitutional roles of the Armed Forces of Nigeria.

During his remarks, Sen. Ahmad Lawan stated that in the current global landscape, security is paramount. Therefore, he pledged to continue prioritizing the nation’s security and military forces to ensure they receive the necessary support. “When we secure our environment, we can more easily and comfortably provide for other needs,” he said. The committee chairman also highlighted the AFCSC as a key institution for military training, providing education to officers at the tactical, operational, and mid-management levels, who go on to lead critical military operations. Sen. Ahmad Lawan stressed the importance of creating a conducive environment for achieving the College’s goals, underscoring that adequate funding is essential for success.

“There must be substantial investment in the AFCSC and other defence institutions like the Nigerian Defence Academy (NDA) and the National Defence College (NDC),” Lawan said. “These institutions attract people from all over the world for training, a testament to the excellence of our programs.” He called for more funding in the upcoming 2025 budget for defence institutions and security agencies, asserting that security should be the nation’s top priority.

Sen. Ahmad Lawan thereafter, commended also the Commandant AFCSC, his predecessors and members of the College Committee for their dedicated efforts in building and sustaining the institution since its inception.

Highlights of the event included inspection of the quarter guard, presentation of souvenirs, a tour of College facilities.

SENATE COMMITTEE ON DEFENCE CONDUCTS OVERSIGHT VISIT TO AFCSC

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Borno Flood: Buhari Pays Condolence Visit to Maiduguri

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Borno Flood: Buhari Pays Condolence Visit to Maiduguri

By: Michael Mike

Borno State Governor, Prof. Babagana Zulum on Tuesday received former President Muhammadu Buhari who was in the state to commiserate with the people and government over the 10th of September flood disaster.

The state capital Maiduguri and environs was submerged in flood that claimed several lives and destroyed many properties.

President Buhari who was out of the country when the flood disaster occurred had earlier sent a high powered delegation to commiserate with the government and made a N20m donation to the state relief fund.

Making his remarks during the visit, Buhari said, “When this disaster happened, having been governor in Borno during my military career, I could hardly imagine such disaster. I was out of the country, all I could do was to send people to come and sympathise with you.”

In their separate remarks, Governor Zulum and the Shehu of Borno, Abubakar Umar Garbai Elkanemi, expressed gratitude to the former President for the visit.

The former president was accompanied by the ex-Secretary to the federal government, Boss Mustapha, Engr. Sulaiman Adamu, Sen. Hadi Sirika, Prof. Isa Pantami, Engr. Aliyu Mamman, Garba Shehu, Emeka Nwajiuba, Musa Haro Danmadami among other associates.

Borno Flood: Buhari Pays Condolence Visit to Maiduguri

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