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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
Gowon: US, UK Arms Ban Forced Nigeria to Seek Soviet Support During Civil War
Gowon: US, UK Arms Ban Forced Nigeria to Seek Soviet Support During Civil War
By: Our Reporter
Former Head of State, Yakubu Gowon, has revealed that the refusal of the United States and the United Kingdom to supply arms to Nigeria during the civil war forced his administration to seek military support from the Soviet Union and a Lebanese black market arms dealer.
According to Gowon, the unexpected alliances proved decisive in changing the course of the war, which lasted from July 1967 to January 1970.
The disclosure is contained in Chapter Fifteen of his 859 page autobiography, My Life of Duty and Allegiance, unveiled in Abuja on Tuesday. President Bola Tinubu was represented at the launch by Vice President Kashim Shettima.
In the chapter titled If The Devil’s Ready To Help, Gowon recounted the intense struggle his government faced in sourcing weapons as Nigeria’s ammunition reserves dwindled dangerously by late 1968. He revealed that the country’s stockpile had dropped to about half a million rounds for the entire Army, an amount he considered grossly inadequate for sustained military operations.
He explained that international restrictions on arms sales prevented Nigeria from replenishing its military supplies, despite the escalating demands of the conflict.
“As the weeks of fighting wore on, our stock of ammunition was steadily depleted, and we could not replenish them because international sales restrictions prevented suppliers from selling military hardware to Nigeria,” Gowon wrote.
The former military leader added that the shortage forced him to halt further military advances after the capture of Enugu, restricting federal troops to positions around Okigwe and Umuahia.
“Left with no choice, I ordered the Federal troops to hold their position because I could not, in clear conscience, commit them to further advance knowing that the ammunition to sustain the effort was in short supply,” he stated.
Gowon also expressed disappointment with the stance of Western powers, particularly at a time when the United States was heavily involved militarily in Vietnam and Cambodia.
He recalled holding what he described as one of the most significant meetings of the war with the British and American ambassadors, hoping to secure support for Nigeria’s military efforts.
“If I say I’m not disappointed, it will be an understatement,” he said while recounting the encounter.
Gowon noted that he reminded the diplomats of his responsibility to preserve Nigeria’s unity and protect all citizens and foreign nationals living in the country.
He further recalled telling them before their departure from the State House that he would seek assistance from anywhere necessary to defend the nation.
“I will go to any devil to get what I need to deal with the problem and do my duty to my country,” he said.
According to Gowon, both ambassadors left the meeting without making any commitment, but by then, he had already resolved to pursue alternative sources of military support.
Gowon: US, UK Arms Ban Forced Nigeria to Seek Soviet Support During Civil War
News
Community Court of Justice, ECOWAS Holds Second Moot Court Competition in Dakar
Community Court of Justice, ECOWAS Holds Second Moot Court Competition in Dakar
By: Michael Mike
The Community Court of Justice, ECOWAS is hosting the second edition of its annual Moot Court Competition in Dakar, bringing together law students, academics and legal practitioners from across West Africa in a regional initiative aimed at strengthening legal education and deepening understanding of Community law.
The three-day competition, scheduled for May 20 to 22, 2026, is part of the Court’s broader drive to promote awareness of its jurisdiction and jurisprudence while equipping the next generation of lawyers with practical advocacy, research and analytical skills.
Organised under the theme, “Today’s Students, Tomorrow’s Jurists,” the competition is expected to provide participants with hands-on exposure to simulated legal proceedings, enabling them to bridge the gap between classroom learning and real-world legal practice.
This year’s edition will feature eight universities from francophone ECOWAS member states, including Benin, Côte d’Ivoire, Guinea, Senegal and Togo, while students from a university in Cape Verde will participate as observers. Each institution will field a team made up of two students and a faculty adviser.
The competition is structured in two phases — written and oral. During the written stage, participating teams prepare memorials for both the applicant and respondent based on a hypothetical legal dispute rooted in issues falling within the jurisdiction of the ECOWAS Court. The top-performing teams from the written assessments advance to the oral rounds.
The oral phase in Dakar will feature preliminary and semi-final rounds before designated panels, culminating in a grand finale where the two best teams will argue before a distinguished panel of judges. The event will end with an awards and closing ceremony recognising outstanding teams and participants, while a cultural tour is scheduled for May 23.
The maiden edition of the competition, held in Abuja in 2025, attracted participation from 13 Nigerian universities at the memorial stage, with eight advancing to the oral rounds. Ahmadu Bello University emerged overall winner of the inaugural edition.
Senior government officials from Senegal, members of the Senegalese judiciary and bar association, academics, media representatives, partner organisations and invited guests are expected to attend this year’s competition alongside judges and staff of the ECOWAS Court.
The Court said the initiative reflects its continued commitment to promoting legal excellence, strengthening access to justice and advancing human rights within the West African sub-region.
According to the Court, the programme is also designed to foster stronger institutional ties between the judiciary and academic institutions while nurturing a new generation of lawyers with deeper knowledge of Community law and regional integration mechanisms.
Community Court of Justice, ECOWAS Holds Second Moot Court Competition in Dakar
News
Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth
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
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