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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:
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
By: Michael Mike
The Federal Government of Nigeria has launched an ambitious Net Zero Investment Plan (NZIP), a major policy framework designed to mobilise climate finance, accelerate sustainable economic growth, and strengthen the country’s pathway to net zero emissions by 2060.
The plan, unveiled in Abuja by the National Council on Climate Change, represents a significant step in Nigeria’s efforts to translate its climate commitments into concrete investment opportunities capable of attracting both domestic and international financing.
Developed under the NDC Partnership’s “Global Call for NDCs 3.0 and LT-LEDS,” the framework received technical support from Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH and funding from the German Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety through the International Climate Initiative.
The NZIP is expected to serve as a strategic roadmap for implementing Nigeria’s long-term climate agenda by identifying priority sectors for investment, outlining financing needs, and proposing mechanisms to bridge existing climate finance gaps.
Government officials said the initiative aligns with Nigeria’s broader economic transformation agenda and reinforces the country’s aspiration to emerge as a leading climate-responsive economy in Africa in line with the African Union Agenda 2063.
The investment framework builds on key national policies, including the Nigeria Agenda 2050, the Nationally Determined Contributions (NDCs), and the Long-Term Low-Emission Development Strategy (LT-LEDS), all of which provide the policy backbone for Nigeria’s transition toward sustainable and climate-resilient growth.
Under the LT-LEDS framework, Nigeria targets net zero greenhouse gas emissions by 2060, while the NDCs outline short- and medium-term actions under the Paris Agreement.
Speaking at the launch, Country Director of GIZ, Markus Wagner, described the NZIP as a critical instrument for transforming climate goals into bankable projects capable of attracting large-scale investment.
According to him, the framework goes beyond policy declarations by providing a structured mechanism for mobilising public and private capital toward climate resilience, low-carbon industrialisation, and sustainable economic development.
Wagner noted that achieving net zero emissions would require strong collaboration among government institutions, development partners, financial organisations, and the private sector.
He said the plan demonstrates Nigeria’s determination to align climate action with economic development priorities while creating opportunities for innovation, green jobs, and long-term sustainable growth across strategic sectors of the economy.
Analysts say the launch of the NZIP could improve investor confidence in Nigeria’s green economy ambitions and position the country to access increasing pools of global climate finance targeted at low-carbon and climate-resilient development initiatives.
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
Nigeria Reaffirms One-China Policy, Seeks Deeper Economic Partnership With Beijing
By: Michael Mike
The Nigeria-China Strategic Partnership (NCSP) has reaffirmed Nigeria’s unwavering commitment to the One-China Principle, describing the country’s position on Taiwan as settled, consistent and non-negotiable.
The reaffirmation comes amid renewed global attention on China’s insistence that the People’s Republic of China remains the sole legitimate government representing China, with Taiwan regarded by Beijing as an inseparable part of its territory.
According to the NCSP, Nigeria’s adherence to the One-China policy dates back more than five decades to the establishment of diplomatic relations with China in 1971, and has remained a cornerstone of bilateral relations between both countries.
The agency noted that Nigeria again demonstrated its commitment during President Bola Ahmed Tinubu’s meeting with President Xi Jinping in Beijing in 2024, where both nations issued a joint statement reaffirming Nigeria’s recognition of the People’s Republic of China as the only legal government representing the whole of China.
The NCSP said Nigeria also expressed support for China’s pursuit of national reunification during the high-level engagement.
The statement followed heightened diplomatic conversations surrounding the Taiwan issue after a recent visit to Beijing by a United States delegation reportedly led by President Donald Trump alongside leading American business executives.
Director-General of the NCSP, Joseph Tegbe, said Nigeria intends to build on its longstanding diplomatic ties with China to unlock broader economic opportunities in manufacturing, technology transfer, industrialisation and export-driven production.
Tegbe observed that China has played a major role in supporting Nigeria’s infrastructure development through investments in railway projects, ports, energy facilities, telecommunications and industrial expansion.
He stressed that the partnership should now evolve into deeper collaboration in Nigeria’s digital economy, solid minerals development, agro-processing and consumer markets in order to create a more balanced and productive economic relationship.
The NCSP reiterated its commitment to expanding bilateral cooperation between Nigeria and China across trade, infrastructure, investment, technology transfer and capacity building, with the ultimate objective of delivering measurable economic benefits to Nigerians.
Nigeria Reaffirms One-China Policy, Seeks Deeper Economic Partnership With Beijing
NDLEA Busts Mega Nigerian-Mexican Meth Syndicate, Seizes N480bn Drugs in Largest Lab Raid Ever
By: Michael Mike
The National Drug Law Enforcement Agency has dismantled what officials described as one of the most sophisticated transnational drug syndicates ever uncovered in Nigeria, arresting a notorious drug baron, three Mexican methamphetamine experts, and six Nigerian collaborators in a sweeping operation spanning Ogun and Lagos states.
The operation also led to the discovery and destruction of what the agency called the largest clandestine methamphetamine laboratory ever found in the country, hidden deep inside a forest in Ijebu area of Ogun State.
Chairman and Chief Executive Officer of the NDLEA, Mohamed Buba Marwa, disclosed the details on Wednesday during a media briefing at the agency’s headquarters in Abuja, describing the raid as a major blow against transnational organised crime and illicit drug manufacturing networks operating in Nigeria.
According to Marwa, elite operatives from the agency’s Special Operations Unit executed coordinated strikes across Ogun and Lagos within 48 hours after months of intelligence gathering and surveillance.
He said the primary target was a remote property located inside Abidagba forest in Ijebu East Local Government Area of Ogun State, allegedly operated by a drug trafficking organisation headed by suspected kingpin, Anochili Innocent.
Marwa revealed that operatives stormed the forest laboratory on May 16, catching members of the cartel while processing illicit substances.
Among those arrested were three Mexican nationals identified as methamphetamine production specialists allegedly brought into Nigeria to run the operation. They were named as Martinez Felix Nemecto, Jesus López Valles, and Torrero Juan Carlos.
Four Nigerian collaborators arrested at the laboratory were identified as Nwankwo Sunday Christian, Igwe Abuchi Remijus, Ifeanyichukwu Chibuike Joshua, and Egwuonwu Uchenna Victor.
Simultaneously, another tactical team raided the Lekki residence of the alleged cartel leader at Golf Estate, Lakowe, Lagos, where Anochili was arrested.
Marwa said a search of the property uncovered the passports and mobile phones of the three Mexican suspects, linking the alleged drug baron directly to the importation and coordination of foreign methamphetamine specialists.
The NDLEA boss disclosed that follow-up operations on May 18 led operatives to another property linked to the suspect at Mayfair Estate, Lakowe, where another alleged syndicate member, Kingsley Orike Omonughwa, was arrested.
Investigators also stormed the residence of another suspected collaborator, Emeka Nwobum, said to have operated a strategic stash house for the cartel.
The arrests brought the total number of suspects in custody to 10, including the kingpin, the Mexican specialists, and six Nigerian collaborators.
Marwa said the operation yielded an unprecedented 2,419.48 kilograms of chemical substances, including crystallised and liquid methamphetamine as well as dangerous precursor chemicals and industrial solvents.
He estimated the international street value of the seized narcotics at 362.9 million dollars, equivalent to over N480 billion.
According to him, the volume of drugs recovered represented millions of potential street doses capable of fueling addiction, violence, and organised crime across local and international markets.
The agency also recovered operational vehicles including a Toyota Tacoma allegedly used at the forest laboratory and a Toyota Highlander seized from the cartel leader’s residence.
Marwa warned that Nigeria would remain hostile territory for drug cartels and foreign criminal networks attempting to establish manufacturing bases in the country.
“We are fully aware of the shifting tactics of these cartels, including the disturbing trend of hiring South American cartel specialists to set up production factories in our rural communities,” he said.
“No matter how deep into the bush you hide, no matter how secure your gated estate is, the NDLEA will hunt you down, dismantle your network, and seize your illicit wealth.”
The NDLEA chairman also linked the latest operation to the recent takedown of another international drug trafficking network allegedly headed by Simon Amadi, saying the agency was intensifying cooperation with global law enforcement partners to combat organised narcotics operations.
He commended operatives of the Special Operations Unit and the agency’s chemical and forensic teams for what he described as exceptional professionalism and bravery during the operation.
Marwa also urged Nigerians to remain vigilant and report suspicious activities, warning that the Ogun forest laboratory had operated under the guise of a legitimate farm.
NDLEA Busts Mega Nigerian-Mexican Meth Syndicate, Seizes N480bn Drugs in Largest Lab Raid Ever
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
Nigeria Reaffirms One-China Policy, Seeks Deeper Economic Partnership With Beijing
NDLEA Busts Mega Nigerian-Mexican Meth Syndicate, Seizes N480bn Drugs in Largest Lab Raid Ever
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