Connect with us

News

ActionAid Blames Government for Economic Woes

Published

on

ActionAid Blames Government for Economic Woes

By: Michael Mike

ActionAid Nigeria has commended the government for exempting small businesses, manufacturers, and farmers from withholding tax, a move that acknowledges the critical role of local industries and Small and Medium Enterprises (SMEs) in driving economic growth and development.

The ActionAid in a statement on Wednesday while acknowledging the beauty of government’s move, sound a clarion call on the looming hunger crisis and pervasive insecurity in Nigeria and said the government should be held accountable for its inaction.

The statement read: “The continuous interest rate hike by the Central Bank of Nigeria, aimed at curbing inflation, has unfortunately not yielded the desired results. While the hikes were intended to reduce inflation, prices continue to soar, leaving many Nigerians struggling to make ends meet.

“Aliko Dangote, Chairman and CEO of the Dangote Group, has warned that the interest rate hike will have devastating consequences for businesses, making it nearly impossible for them to survive. The Manufacturers Association of Nigeria (MAN) has echoed Dangote’s concerns, calling for policies that support local industries. This highlights the need for a comprehensive review of the tax regime to ensure it is fair, equitable, and supportive of local industries.

“ActionAid Nigeria believes that the focus on interest rates alone is misplaced and that the root cause of inflation lies in the production sector. To truly tackle inflation, ActionAid Nigeria urges the government to prioritize production and address the obstacles facing small business owners and farmers, including insecurity and lack of access to credit.

“ActionAid Nigeria also calls for grants and low-interest loans for Small and Medium-sized Enterprises (SMEs) to be able to expand and thrive in this economy, as it is the biggest way to tackle poverty. They are the backbone of our economy and supporting them is crucial to addressing the hunger crisis and promoting economic growth. ActionAid Nigeria demands that the government take immediate action to address the pervasive insecurity, including investing in community-led peacebuilding initiatives and providing support to victims of violence. Moreover, small business owners and farmers need access to credit to expand their operations and increase production. We urge the government to implement policies that provide affordable credit to SMEs and support sustainable agriculture practices.”

ActionAid Nigeria demanded that the government expand the tax brackets for multinationals and big companies, as well as reduce tax holidays for them, insisting that: “The government needs to revisit the tax policies that have allowed multinationals to exploit our resources while paying minimal taxes. This is unacceptable and perpetuates inequality. The nation needs a fair and progressive tax system that ensures everyone contributes their fair share.

“In addition, ActionAid Nigeria is deeply concerned about the impact of insecurity on smallholder women farmers, who are critical to Nigeria’s food security. A recent survey conducted by ActionAid Nigeria across the country revealed that 73% of smallholder women farmers affirmed that insecurity has affected their food production, with many reporting loss of crops, livestock, and farming equipment due to violent attacks.

“This is unacceptable and demands immediate attention from the government.
Furthermore, tackling food insecurity is crucial to addressing the hunger crisis, and ActionAid Nigeria calls on the government to invest in agriculture and support small-scale farmers to increase food production and availability. Moreover, addressing poverty and inequality is critical, and ActionAid Nigeria demands investments in social protection programs and progressive taxation to ensure all Nigerians have access to the resources they need to thrive.
In conclusion, while ActionAid Nigeria commends the government for the withholding tax exemptions, it urges the government to take bold and immediate action to address the looming hunger crisis, pervasive insecurity, and obstacles to production.”

The statement added that: “ActionAid Nigeria will continue to push for policies and actions that prioritize the needs of the people, not just the interests of the few. The future of our country and its people is at stake, and we must act now.”

ActionAid Blames Government for Economic Woes

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NIDEC 2026: No Room for Jamboree Under Tinubu’s 4Ds Agenda — Enikanolaiye

Published

on

NIDEC 2026: No Room for Jamboree Under Tinubu’s 4Ds Agenda — Enikanolaiye

By: Michael Mike

The Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, has said the 2026 Nigeria Diaspora Investment Economic Conference (NIDEC), scheduled to hold in Toronto, Canada, is not a diplomatic jamboree but a strategic platform to attract investment, create jobs and increase foreign exchange inflows into Nigeria.

Enikanolaiye stated this in Abuja, while addressing journalists ahead of his departure with a Federal Government delegation to the four-day conference.

Responding to concerns that previous international engagements had yielded limited tangible results, the Minister said the Tinubu administration had no room for ceremonial or unproductive foreign trips.

“This administration does not travel for jamborees. We travel for results. Mr. President has mandated a high-powered delegation led by the Chief of Staff to the President, Hon. Femi Gbajabiamila, because NIDEC 2026 is a deal room for Nigeria’s growth,” he said.

According to the Minister, the conference aligns with President Bola Ahmed Tinubu’s realigned 4Ds Foreign Policy Agenda — Demography, Development, Democracy and Diaspora.

Enikanolaiye said NIDEC 2026 would provide an opportunity to deepen Nigeria-Canada economic relations, with senior Canadian officials, including Treasury Board President Shafqat Ali and ministers from Ontario, expected to participate.

He said discussions would focus on new trade agreements, SME partnerships and improved market access for Nigerian products in North America.

The Minister also highlighted the participation of key Nigerian economic agencies, including the Central Bank of Nigeria, the Nigerian Investment Promotion Commission (NIPC), the Nigerian Export Promotion Council (NEPC) and the Nigeria Revenue Service (NRS).

He said the delegation would promote incentives for diaspora capital repatriation, export expansion and remittance-backed investment vehicles, with the aim of increasing foreign exchange inflows and creating jobs in Nigeria.

Enikanolaiye said the participation of five governors from Anambra, Borno, Kaduna, Plateau and Zamfara would strengthen sub-national investment partnerships.

The governors, he explained, would directly engage potential investors on projects spanning infrastructure, agriculture, technology and mining, thereby extending investment opportunities beyond Abuja.

The Minister said the participation of NITDA Director-General Kashifu Inuwa would support Nigeria’s efforts to secure partnerships in digital innovation, fintech and information technology capacity building.

He said such partnerships would contribute to the Federal Government’s broader digital economy and skills development agenda.

On diaspora engagement, Enikanolaiye said NIDEC was designed to connect investment-ready Nigerian projects with high-net-worth Nigerians in the diaspora, while also addressing bottlenecks faced by Nigerians abroad who want to invest in the country.

He noted that Nigeria received more than $20 billion in diaspora remittances last year, stressing that the objective was to transform the goodwill represented by those remittances into equity, factories and businesses capable of employing Nigerians.

@NIDEC 2026 is economic diplomacy in action. Nigeria is open for business. And we are going to Toronto to close deals,” he said.

The four-day NIDEC 2026, themed “Invest Nigeria, Thrive Abroad,” is scheduled for August 12–15, 2026, in Toronto, Canada.

The conference is being organised by the Nigerians in Diaspora Commission (NiDCOM), in collaboration with the Nigerian High Commission in Ottawa and the Canadian High Commission in Abuja.

The Ministry of Foreign Affairs said the conference is intended to serve as a bridge connecting global capital with bankable investment opportunities in Nigeria.

NIDEC 2026: No Room for Jamboree Under Tinubu’s 4Ds Agenda — Enikanolaiye

Continue Reading

News

Four Terrorist Family Members Escape Enclaves, Surrender to Troops in Borno

Published

on

Four Terrorist Family Members Escape Enclaves, Surrender to Troops in Borno

By Zagazola Makama

Four persons identified as family members of terrorists have escaped from insurgent enclaves in the Mandara Mountains and surrendered or been intercepted by troops of Operation HADIN KAI in Gwoza Local Government Area of Borno State.

A military source told Zagazola Makama that a 15-year-old boy, identified as Idi Musa, was intercepted at about 6:25 a.m. on August 9, 2026, by troops of 192 Battalion conducting picketing and fighting patrol duties along the Gwoza–Limankara road.

Preliminary interrogation revealed that Musa had escaped from a terrorist enclave in the Mandara Mountains.

He reportedly disclosed that he was abducted about two years ago while picking mangoes around Dala Village in the Hambagda general area.

According to the source, the teenager was forced to cook for other abductees being held within the enclave. He said the task was assigned to him by a terrorist commander identified as Idrisa Taklace.

One Itel mobile phone was recovered from him.

In a separate development at about 9:55 a.m. the same day, three other suspected members of terrorist families — 20-year-old Binta Idrisa, 18-year-old Amina Muhammadu and two-year-old Musa Alhaji — surrendered to troops of 192 Battalion.

Preliminary investigation revealed that the three had escaped from a terrorist enclave in Chikide, within the Mandara Mountains of Gwoza LGA.

The escapees reportedly said the lack of basic necessities in the terrorist camp compelled them to flee the enclave.

The troops recovered ₦9,500 from the three escapees.

The four persons were subsequently screened and documented and remain in military custody for further necessary action.

The development highlights the continuing pressure on terrorist enclaves in the Mandara Mountains, with civilians and family members held within the camps increasingly seeking opportunities to escape as military operations intensify across the Gwoza axis.

Four Terrorist Family Members Escape Enclaves, Surrender to Troops in Borno

Continue Reading

News

Ethiopia’s Withdrawal from Buurhakaba Base Raises Security Concerns in Somalia

Published

on

Ethiopia’s Withdrawal from Buurhakaba Base Raises Security Concerns in Somalia

By Zagazola Makama

The withdrawal of Ethiopian troops serving under the African Union Support and Stabilization Mission in Somalia (AUSSOM) from their base in Buurhakaba, Bay Region, has raised concerns over the ability of Somali security forces to assume full responsibility for security in the strategically important area.

Ethiopian forces have maintained a presence in Buurhakaba since 2014, with the town playing a significant role in the security of Baidoa and along the major road linking Mogadishu and Baidoa.

Its strategic location makes Buurhakaba an important security node and a potential staging area for military operations affecting both major urban centres and surrounding communities.

Security analysts believe Al-Shabaab could attempt to exploit the withdrawal by increasing pressure around Buurhakaba and its environs.

The immediate challenge for Somali security forces is therefore to secure the town’s perimeter, key access routes and surrounding settlements before the militant group can exploit any potential security gaps.

Although Ethiopia’s eventual withdrawal from selected positions across Somalia has been anticipated, sources close to the Somali National Army indicated that the Buurhakaba withdrawal was a planned redeployment that had been under preparation for some time.

Preliminary reports indicate that Somali forces will operate alongside troops from other partner countries during the transition period while the Holding Forces being prepared by the Somali authorities attain operational readiness.

The partner forces are expected to provide critical security support, including air and ground capabilities, aimed at deterring and disrupting any attempt by Al-Shabaab to launch attacks against positions or bases vacated by AUSSOM troops.

The coming weeks are expected to be critical in determining whether the transition can be managed without creating exploitable security gaps.

The key test will not simply be whether Somali forces can occupy positions previously held by Ethiopian troops, but whether they can establish sustainable security perimeters, maintain freedom of movement along critical routes and prevent Al-Shabaab from turning the transition into an operational advantage.

Buurhakaba could consequently emerge as an important early indicator of Somalia’s capacity to manage the transition from AUSSOM-held positions to Somali-led security arrangements amid continuing political and military pressure.

Ethiopia’s Withdrawal from Buurhakaba Base Raises Security Concerns in Somalia

Continue Reading

Trending

Verified by MonsterInsights