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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:
News
ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration
ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration
By: Michael Mike
Students in Monrovia, Liberia, have been honoured for their contributions to a regional essay competition organised to commemorate the 50th anniversary of the Economic Community of West African States (ECOWAS).
The awards ceremony, organised by the Office of the ECOWAS Resident Representative in Liberia, celebrated outstanding undergraduate essays examining the role of young people in driving development and strengthening regional cooperation across West Africa.
Launched as part of the ECOWAS@50 anniversary activities, the competition invited university and college students to reflect on the theme, “Youth Entrepreneurship as a Catalyst for National Development and Regional Integration.” Organisers said the initiative was designed to stimulate intellectual engagement among young people and encourage them to think critically about their role in shaping the future of the region.
In total, 40 essays were submitted by students from tertiary institutions across Liberia, offering diverse perspectives on how youth-led enterprise could contribute to economic growth, job creation and deeper integration among West African nations.
At the ceremony, Samuel R. Watkins of the University of Liberia emerged as the overall winner, receiving a $1,000 prize for his submission. The second-place award went to Daniel Isaac-Sie Jr. of African Methodist Episcopal University, who received $700. Organisers announced that the two winning essays will also be published in national newspapers with online platforms to broaden public engagement with the ideas presented.
The event attracted a distinguished audience that included ambassadors of ECOWAS member states accredited to Liberia, university presidents, and representatives from the Ministry of Education of Liberia, the Ministry of Youth and Sports of Liberia, and the National Commission on Higher Education of Liberia.
Speaking at the ceremony, Josephine Nkrumah, ECOWAS Resident Representative in Liberia, commended the students for the depth of thought reflected in their essays and encouraged them to continue using writing as a platform for civic engagement and policy influence.
She emphasised that empowering young people to participate actively in national and regional development remains a key priority for ECOWAS, noting that youth voices are essential in shaping policies that drive economic transformation and social progress.
Nkrumah also urged participants who did not win to remain committed to intellectual pursuits, describing the competition as a learning experience that should inspire greater academic and creative efforts in the future.
The competition forms part of broader activities marking 50 years since the establishment of ECOWAS in 1975, as the regional bloc continues to promote economic cooperation, integration and shared prosperity among its member states. Organisers say initiatives that engage young people are critical to sustaining the vision of a more integrated and economically vibrant West Africa.
ECOWAS@50: Liberian Students Honoured for Essays on Youth Entrepreneurship and Regional Integration
Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria
By: Michael Mike
The Embassy of the Russian Federation in Nigeria has hosted a special classical music concert in Abuja, describing the event as a significant step toward strengthening cultural dialogue and people-to-people relations between Nigeria and Russia.
The event, which drew diplomats, cultural enthusiasts, academics and members of the public, featured performances by three talented young Russian musicians from the Tchaikovsky Moscow State Conservatory, one of Russia’s most prestigious music institutions.
Speaking at the event, the Russian Ambassador to Nigeria, Andrey Podelyshev noted that the concert was organized with the support of the Russkiy Mir Foundation and the Department for Multilateral Humanitarian Cooperation and Cultural Relations of the Ministry of Foreign Affairs of the Russian Federation.
According to him, the concert represents the first cultural event of its kind organized by the Russian Embassy in Nigeria in several years and marks an important effort to revive cultural engagement between the two nations.
“This evening is not simply a concert,” the envoy said. “It is an important step toward strengthening cultural dialogue between the Federal Republic of Nigeria and the Russian Federation. We hope it will mark the beginning of a new tradition that brings our peoples closer through the universal language of music.”
He expressed appreciation to several Nigerian institutions for supporting the initiative, including the National Universities Commission for providing the venue, as well as the Federal Ministry of Art, Culture, Tourism and Creative Economy and the Nigeria Immigration Service for their cooperation.
Special recognition was also given to Abba Music School for its role in coordinating the event and facilitating the participation of the visiting musicians.
The envoy said Russia also hopes to deepen cultural exchange by creating opportunities for Nigerian artists and creative groups to perform in Russia in the future, allowing Russian audiences to experience Nigeria’s rich cultural heritage.
“We look forward to the day when Nigerian creative groups will visit Russia, enabling our audiences to appreciate the depth, diversity and richness of Nigeria’s culture,” he said.
Guests at the concert were treated to a carefully curated repertoire of classical masterpieces drawn from Russian and global musical traditions, showcasing the technical brilliance and artistry of the visiting performers.
The evening also provided an opportunity for cultural interaction among diplomats, academics, students and music lovers, reinforcing the role of arts and culture in fostering international understanding.
The Russian envoy concluded his remarks by congratulating Muslims on the occasion of Eid al-Fitr and thanking guests for attending the event.
Observers noted that the concert reflects a renewed effort by Russia to use cultural diplomacy to deepen engagement with Nigeria, particularly in the areas of education, arts and cultural exchange.
Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria
Fire destroys 10 shops in Gusau shopping complex
By: Zagazola Makama
A fire outbreak has destroyed ten shops at a shopping complex in Garejin Mai Lena area of Gusau Local Government Area, Zamfara State.
Sources said the incident occurred at about 2:00 a.m. on Thursday, causing extensive property losses valued at millions of naira.
The blaze was brought under control through a joint effort by security operatives and local residents who assisted in putting out the fire.
Authorities confirmed that no lives were lost and no injuries were reported during the incident.
The cause of the fire is currently under investigation as efforts continue to assess the full extent of the damage.
Fire destroys 10 shops in Gusau shopping complex
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