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AT 2ND CHRONICLE ROUNDTABLE:
AT 2ND CHRONICLE ROUNDTABLE:
- President Tinubu Taking Wise, Statesmanly Decisions – Assures VP Shettima
- Lists subsidy removal, other policies as options taken to save Nigeria
- Says nation’s economy will witness positive changes after the sacrifices
By: Our Reporter
Again, Vice President Kashim Shettima has implored Nigerians to be patient with the administration of President Bola Ahmed Tinubu as he steers the ship of state through the economic turbulence and storm he met on ground on assumption of office.
“Soon, Nigeria’s economy will experience significant growth once we’ve overcome these sacrifices. Positive changes will soon be evident across all economic indicators – inflation, per capita income, GDP numbers, poverty reduction, food security, and all aspects close to the hearts of our people,” he declared.
Senator Shettima made the appeal on Thursday during the 2nd Chronicle Roundtable organized by 21st Century Media Services, publishers of 21st CENTURY CHRONICLE, as part of its public service enlightenment series, at Ladi Kwali Hall, Abuja Continental Hotel, Abuja.
The Vice President who was the Guest Speaker at the roundtable explained some key policy decisions taken by the Tinubu administration as well as its Economic and Social Agenda, including the removal of subsidy on petroleum products, which he described as the ‘biggest elephant in the room’ before President Tinubu took charge.
Appealing for patience and time to address the serious challenges he said they met on ground, especially the nation’s ailing economy which was already tottering towards an eclipse, Shettima said, “We look forward to the positive impact on the economy that will be brought by some of our new initiatives in the oil and gas sector, creative arts sector, the newly rejigged steel and solid minerals sectors, our housing sector, the blue economy, and the digital sectors, to mention but a few.
“There is no doubt that there’s a time to plant and a time to reap. In between those times, we appeal for patience and seek collective sacrifice from all, especially from us. We wish there were a way to treat this ailment without surgery”.
While delivering his speech titled, “Because These Shortcuts Are Not The Right Ways,” the VP noted that though the decision to remove fuel subsidy was quite tough considering its negative impact on the lives of the citizens, it became an inevitable option when it was discovered that the immediate past administration of former President Muhammadu Buhari did not make provision for it in the 2023 budget.
He explained: “His Excellency, President Bola Ahmed Tinubu, chose the option that would save the life of the nation, instead of one that would merely prolong its imminent and predicted economic death. Before we took charge, the biggest elephant in the room was the question of fuel subsidy removal.
“We understood why our predecessor made the decision to remove it and refused to budget for it in their final fiscal year. The year before we took office, Nigeria’s debt service-to-revenue ratio had grown to 111.8%. The anticipated debt crisis may sound like fancy economic jargon to the man on the street, but you and I are in a better position to understand how such miscalculations have played out in other countries. It’s an economic death sentence.
“In plain terms, our debt servicing was such that if you earned, say, N100,000, the entirety of the money wasn’t only paid to your debtor; you were forced to borrow an additional N11,800 to pay the debtor. How do you intend to survive this, and how many more loans before you become a pariah?
“We are not even discussing the nation’s budget deficits, diversions of resources from critical sectors of the economy, and corruption masterminded in the subsidy regime.”
Acknowledging that government is a continuum, the VP said whoever had “succeeded the previous government would have either chosen to steer the ship through the storm as President Tinubu is doing or jumped ship and let the country implode.”
He observed that those who contested the presidency with President Tinubu did not feel morally justified to question the decision to remove fuel subsidy because it was part of the solutions they also tabled before Nigerians.
“This was because, whether in handling the subsidy matter or the forex crisis, they had also promised the solutions we had adopted. Those who attempted to eat their words were instantly proven wrong by data, history, and their antecedents—those emotionless reality checkers,” he pointed out.
Senator Shettima regretted that for long Nigeria had endured economic sabotage, leading to the resolve by Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso, and the National Security Adviser, Malam Nuhu Ribadu, “to take matters into their hands to neutralise the overpowering influence of currency manipulators who had conspired to frustrate our reforms.
“Today, I stand proud to say that their interventions have translated into desired results, and Naira’s pushback against all odds is an inspiring journey that doesn’t have to be learned in Buenos Aires, as some would want us to do,” he added.
Earlier in his opening remarks, chairman of the Ministry of Finance Incorporated and former Finance Minister, Dr Shamsudeen Usman, praised the content of the Renewed Hope Agenda of the Tinubu administration, describing it as one of the most detailed and carefully crafted policy document in the history of the country.
He stressed the need for the Renewed Hope Agenda document to be reviewed and integrated into the medium and long-term development framework of the country, noting that policy consistency with a long-term vision to transform critical sectors of the economy, is the way to go.
Dr Usman also commended the administration’s establishment of a central coordination delivery unit to track the performance of programmes, policies and key interventions of the Federal Government, insisting that the monitoring of key performance indicators in the policy document was critical to the success of the government.
On his part, the CEO of 2nd Chronicle Newspaper, Malam Mahmud Jega had while welcoming guests to the event, said the need to critically analyse government policies and programmes was not just an expectation from the media but indeed borne out of the necessity to collectively contribute in shaping the nation’s development trajectory.
Also present at the event were the Minister of Information, Alhaji Mohammed Idris; Special Adviser to the President on Political Matters, Dr Hakeem Baba Ahmed; Chairman of 21st Century Chronicle, Amb. Gbara Awanen; notable leaders in the media industry, Dr Ishaq Moddibo Kawu; Mallam Garba Shehu; Mr Segun Adeniyi, and Malam Mahmud Jega, among others.
AT 2ND CHRONICLE ROUNDTABLE:
Gombe Govt restates commitment to MSMEs growth
The Gombe State Government, on Friday engaged stakeholders in the finance sector towards easing access to credit and ensuring the growth of Micro, Small and Medium Enterprises (MSMEs) in the state.
Malam Muhammad Magaji, the state’s Commissioner of Finance and Economic Development stated this in Gombe while declaring open the State Action on Business Enabling Reforms (SABER) Programme, themed: “Guide to Access Credit”.
Magaji said that the meeting was aimed at creating an environment conducive for business growth by removing the bottlenecks around accessing finance.
He said that the administration of Gov. Inuwa Yahaya of Gombe State has prioritised the development of businesses and industries to drive economic prosperity for the state, create jobs and improve the wellbeing of residents.
Magaji who was represented by Mr Jalo Ibrahim, the Permanent Secretary, Ministry of Finance and Economic Development said that the state is now more deliberate in supporting small business owners to grow.
According to him, Yahaya-led administration’s commitment to MSMEs growth is to ensure inclusive growth of the economy in view of the role of such small businesses to economic transformation.
“We are engaging the financial institutions and relevant stakeholders to see how we can remove the barriers affecting access to credit to SMEs in the state.
“This is part of the current administration’s commitment to strengthening access to loan facilities that would give life to small businesses and help more youths start up businesses.
“We are very committed as a government to see to it that we provide all the needed supports to make doing business in Gombe State easy.
“Government will inject more money into the system to serve as collateral for business owners and also serve as guarantor to those who are willing to access finance,” he said.
On his part, Alhaji Nasiru Aliyu the Commissioner for Trade, Industry, and Tourism,
Gombe State restated the state government’s commitment to industrialising the state and attracting investors.
Aliyu said that Yahaya’s administration had invested a lot to boost industrial growth and turn the state into the industrial and evonomic hub of North East.
Mr Kabiru Tsoho, the SABER focal person for Gombe State said that the SABER Programme is a World-Bank project aimed at easing businesses towards accelerating the growth of the economic sector.
Tsoho said the engagement would help remove impediments to accessing finance and encouraging business growth.
“This will help improve business environment and encourage investment which would provide more opportunities for jobs to be created and for economic empowerment of women and youths,” he said.
Mr Sanusi Abdullahi, Chairman, Traders Association of Nigeria, Gombe State chapter commended the initiative by the state government and World Bank to make doing business easy.
Abdullahi said with improved access to loans, there would be more youth employment and improvement in the standard of living of residents of the state.
Gombe Govt restates commitment to MSMEs growth
Troops arrest gunrunner, recover arms, ammunition in Plateau
By: Zagazola Makama
Troops of 3 Division of the Nigerian Army under Operation Joint Task Force, Operation Enduring Peace (OP Enduring Peace), have arrested a suspected gunrunner and recovered arms and ammunition in Bokkos and Mangu Local Government Areas of Plateau State.
The operations, conducted on Thursday, were part of ongoing efforts to mop up illicit arms and ensure a peaceful yuletide season within the Joint Operations Area, military sources said.
In the early hours of the day, troops, in conjunction with operatives of the Department of State Services (DSS), raided a suspected criminal hideout at Gwender Village in Bokkos Local Government Area, following intelligence reports.
Although the suspects reportedly fled before the arrival of the troops, a search of the hideout led to the recovery of one fabricated AK-47 rifle with a magazine, one fabricated pistol and several rounds of ammunition of different calibres.
In a related operation, troops working with a DSS Tactical Team mounted a snap checkpoint at Mairana in Mangu Local Government Area, based on credible intelligence.
During the operation, a Fulani youth was intercepted and arrested while in possession of two boxes of ammunition containing 1,400 rounds of 7.62mm special ammunition.
The suspect and the recovered items are currently in custody for further investigation, while troops have intensified follow-up operations to apprehend other members of the suspected criminal syndicate.
The military reiterated its commitment to sustaining pressure on criminal elements to ensure peace and security across Plateau State and the wider Joint Operations Area.
Troops arrest gunrunner, recover arms, ammunition in Plateau
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
By: Our Reporter
Borno State Governor, Prof. Babagana Umara Zulum, has launched an empowerment package worth N1,000,000,000 targeting thousands of young residents, mostly GSM repairers and technicians.
The initiative targets 1,050 youths who will be trained on phone repairs and maintenance; about 3,000 other apprentices will receive cash.
Each of them will receive a complete set of modern working tools, including an 852D hot air rework station, a separating machine Kc2025, a battery booster S2025 pro, an adjustable temperature soldering iron V900c, a digital multimeter DT9205Plus and a precision screw driver set 60 in 1, to enhance their own repair businesses.
In addition to the tools, all 1,050 GSM repair trainees will receive direct cash support to serve as seed capital for their ventures.
The disbursement comprises four categories: the first group, consisting of 26 beneficiaries each receiving N1 million; the second group, 189 beneficiaries each receiving N300,000; the third group, 835 beneficiaries each receiving N100,000; and the fourth category, 3,500 apprentices, each receiving N100,000 and different calibres of working tools. The training cost is N482 million.
Speaking during the launching ceremony, Zulum said: “It gives me immense pleasure and a deep sense of fulfilment to stand before you today on this historic occasion—the official launch of the disbursement of N1 billion empowerment scheme alongside the training of operators at the GSM Market here in Maiduguri.”
The governor also recalled several initiatives by his administration on investment in human capital development.
He said, “Only recently, this administration took a bold and visionary step by sponsoring two hundred youths to study aircraft piloting and aeronautic engineering at Isaac Balami University.
“This initiative is designed to place Borno State on the global aviation map and demonstrate that, despite our challenges, we are preparing our youths for world-class opportunities. The process is almost completed.
“So far so good, about 400 Borno state indigenes are pursuing PhDs and master’s degrees abroad. In addition, 100 of our youths are currently studying Medicine and related courses in China.”
The occasion was attended by the senator representing Borno Central, Barrister Kaka Shehu Lawan; members of the House of Representatives; the deputy speaker of the Borno State House of Assembly, Engr Abdullahi Askira; commissioners and senior government officials.
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
Gombe Govt restates commitment to MSMEs growth
Troops arrest gunrunner, recover arms, ammunition in Plateau
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
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