National News

AT FIRST NEC OF THE YEAR

Published

1 month ago

January 16, 2026

Ochuwa Ibrahim

AT FIRST NEC OF THE YEAR

Council Moves To Boost Non-oil Revenue, Deepen Engagement With Stakeholders

Cross River Governor Chairs Bi-Partisan Committee On Legacy Projects

VP Shettima: Agriculture, other non-oil sectors, increasingly bearing Nigeria’s revenue weight

By: Our Reporter

The National Economic Council (NEC) has resolved to deepen engagement with stakeholders to boost non-oil revenues in line with the economic blueprint of the administration of President Bola Ahmed Tinubu.

This is just as Chairman of the Council, Vice President Kashim Shettima called for accelerated transition from oil to non-oil economy through competitive manufacturing, export diversification, and private sector investment.

The Council has also approved the constitution of a Committee on the implementation of the President’s directive on the actualisation of the legacy projects.

The committee is chaired by the Governor of Cross River State while one governor from each sub-region will serve as member of the committee as follows: North West (Sokoto), North East (Gombe), North Central (Niger), South East (Abia), and South West (Lagos).

The Permanent Secretary of the Ministry of Budget and Economic Planning, Deborah Odoh, shall serve as Secretary, while the Ministers of Works and Trasnportation will also serve on the committee.

NEC’s decision, taken on Thursday during its 156th meeting and first of the year which washeld virtually, followed a presentation on the economic priorities for 2026 by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The presentation highlighted key reforms implemented by the Tinubu administration, including targeted programmes that have removed distortions in the system, stabilised the economy and put Nigeria on the path of sustained recovery and prosperity.

The presentation also reflected the country’s current global recognition, which is reinforcing investor confidence in the economy projected to grow at 4.68% in 2026.

The key priorities according to the Minister, include maintaining Nigeria’s economic competitiveness through sound governance, improved availability and affordability of food, ensuring human capital development with improved social protection and timely payment of debt service, salaries and pensions.

In its resolution, NEC noted and commended the Federal Government’s plans to unlock rapid and sustained job-rich growth, high-quality jobs, and entrepreneurship opportunities.

The Council also resolved to dedicate a special session to address salient issues raised in the country’s food security efforts, particularly issues bothering on agricultural productivity.

In his opening remarks, Vice President Shettima observed that while “global powers assert their interests with renewed confidence, commodity markets will remain volatile,” with oil prices, exchange rates, and capital flows frustrating the nation’s policies.

He noted that the current economic reality has reinforced the urgency of fiscal risk management and the need to reduce the nation’s economic and revenue exposure to oil.

According to him, the non-oil economy has emerged as the backbone of Nigeria’s growth story, accounting for about 96 per cent of the country’s GDP and is expanding at about 4 per cent.

“Services, agriculture, and other non-oil sectors are increasingly carrying the weight of the economy. More importantly, non-oil revenues now contribute nearly three-quarters of total government collections.

“This marks a significant, if gradual, departure from our historic dependence on volatile oil receipts. The task before us is to deepen this transition through competitive manufacturing, export diversification, and private sector investment,” he said.

VP Shettima who is Chairman of NEC acknowledged that while it was the first meeting of the Council for the year 2026, the consequences of the choices made last year demand coherence, courage, and consistency in the new year.

“This moment in our journey calls for neither triumphalism nor despair. What it calls for is perspective. The Nigerian economy has travelled a difficult road over the past year, but it has not travelled it without progress,” he pointed out.

Noting that the nation’s economy witnessed significant growth in 2025, Senator Shettima attributed the rapid growth to the visionary leadership of President Bola Ahmed Tinubu.

His words: In 2025, our economy expanded by 3.9 per cent, the fastest rate of growth in over a decade. Quarter by quarter, this momentum was evident: growth strengthened from 3.13 per cent in the first quarter to 4.23 per cent in the second, before settling at 3.98 per cent in the third.

“This is the outcome of hard decisions taken in difficult circumstances, and this is not a surprise with a visionary like His Excellency, President Bola Ahmed Tinubu, leading the charge.”

The Vice President said, however, that acceleration of economic growth must not be confused with adequacy, observing that “a growth rate of 3.9 per cent, while encouraging, is not sufficient to decisively reduce poverty, generate jobs at the scale our population demands, or lift per capita incomes in a way that ordinary Nigerians can feel.

“With population growth at about 2.6 per cent annually, this rate of expansion leaves us with little room to absorb inflationary pressures or external shocks. Our ambition, therefore, must be higher,” he added.

Highlights of other deliberations and resolutions at the NEC meeting are as follows:

UPDATE ON ACCOUNT BALANCES AS AT 14th January 2026

The Accountant-General of the Federation gave update to Council on the under listed accounts as follows:

Excess Crude Account $535,823.39

Stabilization Account N64,652,693,552.36

Natural Resources Account N97,369,382,081.96

BRIEF ON THE IMPLEMENTATION OF PRESIDENT BOLA AHMED TINUBU, GCFR DIRECTIVES TO THE NATIONAL ECONOMIC COUNCIL (NEC) ON THE CONSTRUCTION OF LAGOS-CALABAR AND SOKOTO-BADAGRY HIGHWAYS

Council was briefed on the level of implementation of Mr. President’s directive concerning the Lagos-Calabar and the Sokoto-Badagry Super Highways, in accordance with the Administration’s Agenda.

In the report, Council was called to note that the President, Federal Republic of Nigeria, Senator, Bola Ahmed Tinubu, GCFR addressed the National Economic Council (NEC) during the 150th (3rd in 2025) meeting held on Thursday, 31st July 2025 where he underscored the need to properly manage the setbacks along the highways to create some form of investments/economic activities.

Flowing from the above, the NEC Secretariat interfaced with the Office of the Secretary to the Government of the Federation (Cabinet Office) on the assignment and was informed that the process had commenced, and is being overseen by the Office of the Secretary to the Government of the Federation.

Similarly, the Office of the Surveyor-General of the Federation has been moved to the Presidency in compliance with Mr. President’s directive.

PRAYER

Council is invited to note the level of implementation of Mr. President’s directive on setting up a committee for actualization of the administration’s legacy projects especially the Lagos-Calabar and the Sokoto-Badagry Coastal Highways and the movement of the Office of the Surveyor-General of the Federation from the Federal Ministry of Works to the Presidency.

COUNCIL RESOLUTION:

The Council constituted a Presidential NEC Committee on the implementation of the President’s directive.

The committee is chaired by the Governor of Cross River State while one governor from each sub-region will serve as member of the committee, namely: North West (Sokoto), North East (Gombe), North Central (Niger), South East (Abia), and South West (Lagos).

The Permanent Secretary of the Ministry of Budget shall serve as Secretary, while the Ministers of Works and Trasnportation will also serve on the committee.

PRESENTATION ON THE NEW WORLD BANK-NIGERIA COUNTRY PARTNERSHIP FRAMEWORK

In the World Bank Group briefing to Council on Partnership Framework Consultations (CPF), the presentation outlined how the World Bank Group supports Nigeria’s development goals.

It emphasized the shifts towards national programmes implemented at the state level (two-thirds of the active portfolio) and result-based financing (half of the active portfolio), all aimed to achieve impact at scale through fewer, but larger national programmes.

The presentation also talked about the First 2,000 days which includes: Securing Nigeria’s Future; Investing in Stunting Reduction and Early Childhood Development, among others.

The presentation also highlighted what needs to be done when the window for early cognitive development is missed, and when it is too late for recovery.

The WBG also set agenda for 2026 as follows:

January 2026: Agree to the development of a national, state-driven Early Years program under the HCD 2.0 Strategy of the National Economic Council.

January 2026: Nominate an HCD focal person and a senior Budget official to serve as State Early Years leads for engagement.

January – June 2026: Support a diagnostic and multisector dialogue process with your teams to emerge state-wise investment plans. (Immediate)
Immediate: Signal willingness to align budgets and MTSS with the emerging Early Years priorities.

The presentation advised that to move into the group of richer nations, we need to invest in Nigeria’s human capital.

NIGERIA’S SUSTAINABLE AGRICULTURAL VALUE-CHAINS FOR GROWTH (AGROW)

The presentation also highlighted agricultural value-chains to include the following:

$500M Results-Based Program: AGROW introduces a unified national platform tied to measurable outcomes, ensuring accountability and performance-driven implementation.

Co-Created with States & Private Sector: Designed collaboratively by MDAs, state governments, private companies, and development partners to ensure ownership and long-term sustainability, among others.

COUNCIL RESOLUTION:

Council lauded the proposed World Bank Group Country Partnership Framework consultations, which, among other aims, are targeted at investing in young Nigerian children, thereby delivering early results for Nigeria’s children and the future of work.

NEC resolved to take the lead in efforts to work with the World Bank in implementing President Bola Ahmed Tinubu’s Renewed Hope Agenda, having shown the capacity to effectively channel local and foreign resources.
Council committed to providing institutional support and commitment to the World Bank’s proposed framework for Nigeria.

UPDATE ON NIGERIA’S TAX REFORM LAWS PRESENTED BY PRESIDENTIAL FISCAL POLICY AND TAX REFORMS COMMITTEE

Update was presented to Council on Tax Reform. It stated that the reform is to address inequity and promote shared prosperity, a broken tax system, fragmented and complex, unconducive for growth, regressive, high burden on Nigerians & businesses.

The committee gave an overview of the entire tax framework with its priorities, targets, challenges and opportunities for economic transformation.

Council directed the committee to prepare a more comprehensive brief for presentation at NEC’s forthcoming conference in February to prepare the sub-nationals for the robust implementation of the tax laws across the country.

CONCLUSIONS AND PRAYERS

We seek the support of states for effective implementation

Political leadership to support the tax reform
Enactment of Tax Harmonisation Law by states
Adoption of presumptive tax regime for informal sector
Resourcing of state internal revenue service to improve capacity for administration
Approval of National Fiscal Policy

COUNCIL RESOLUTION:

Council resolved to take a more robust engagement on the new tax regime at its forthcoming conference in February.

AT FIRST NEC OF THE YEAR

National News

Shehu Dikko Endorses President Tinubu for Second Term

Published

4 hours ago

February 27, 2026

Ochuwa Ibrahim

Shehu Dikko Endorses President Tinubu for Second Term

By Comrade Philip Ikodor

Abuja, Nigeria – The Chairman of the National Sports Commission (NSC), Shehu Dikko, has called on Nigerians to support President Bola Ahmed Tinubu’s bid for a second term in office come 2027. Dikko made this assertion at the Grand Endorsement event of President Tinubu’s re-election, organized by the National Progressive Hub (NPH), a prominent support group of the All Progressives Congress (APC), held at the Shehu Yaradua Center in Abuja.

Dikko, who hosted the event, highlighted the achievements of the Tinubu administration, including the establishment of the National Sports Commission, which has driven reforms and innovations in sports administration in Nigeria. He also commended the President’s industrial revolution drive, which has led to economic stability and development.

“President Bola Ahmed Tinubu is a great leader committed to positioning Nigeria as a leading nation. His bold economic policies and interventions have yielded positive results,” Dikko said. He also praised the President’s recent executive bill, which mandates key institutions to remit generated revenue directly to government coffers, calling it a significant step towards economic development.

The event also featured the formal inauguration of the 36 state coordinators and the FCT of the National Progressive Hub (NPH) and the unveiling of the Roadmap Framework for strategic grassroots engagement towards the APC’s victory in 2027.

The NPH, a leading APC support group, has thrown its weight behind President Tinubu’s re-election bid, citing his remarkable achievements and commitment to Nigeria’s development. The group is set to mobilize support for the President across the country, leveraging its extensive network and grassroots presence to ensure a landslide victory for the APC in 2027.

The NPH’s endorsement is seen as a significant boost to the President’s re-election campaign, and a testament to his growing popularity and influence among Nigerians.

Shehu Dikko Endorses President Tinubu for Second Term

National News

FG Moves To Democratise Credit Access, Inaugurates CREDICORP Board

Published

13 hours ago

February 27, 2026

Ochuwa Ibrahim

FG Moves To Democratise Credit Access, Inaugurates CREDICORP Board

We’re targeting 50% of working population by 2030, says VP Shettima

By: Our Reporter

The Vice President, Senator Kashim Shettima, has inaugurated the Board of the Nigerian Consumer Credit Corporation (CREDICORP), saying access to consumer credit is critical to Nigeria’s ambition of becoming a one-trillion-dollar economy.

According to him, President Bola Ahmed Tinubu established the CREDICORP to build a trusted credit infrastructure, provide catalytic capital to lower borrowing costs, and help Nigerians overcome long-standing cultural resistance to credit.

Speaking on Thursday in Abuja when he inaugurated the Board on behalf of the President, the Vice President said that the quality of life of Nigerians cannot improve without closing the gap between access to capital and human dignity.

“A civil servant who earns honestly does not have to chase sudden wealth just to buy a vehicle, or save for ten years to buy one. A young professional should not remain in darkness simply because solar power must be paid for all at once,” the Vice President said.

VP Shettima disclosed that in just one year of operations, CREDICORP has disbursed over ₦37 billion in consumer credit to more than 200,000 Nigerians, with over half of them accessing formal credit for the first time.

The Vice President said the organisation is specifically tasked with building credit infrastructure to bridge the trust gap between lenders and borrowers, providing wholesale capital and credit guarantees through its portfolio company.

“Ultimately, these critical jobs of CREDICORP will enable access to consumer credit to at least 50 per cent of working Nigerians by 2030,” he said.

The Vice President explained that the new board’s role is not ceremonial as they are custodians of the organisation’s mission, adding that the long-term strength of the institution would depend on their “vigilance, integrity, sacrifice, and commitment.”

He directed Board members to uphold Public Service Rules, the Board Charter, and all applicable governance frameworks, warning that accountability and stewardship of public resources were non-negotiable.

Earlier, Chairman of CREDICORP, Otunba Aderemi Abdul, expressed appreciation to President Tinubu for his vision behind the formation of CREDICORP and for the confidence reposed in them, noting that the establishment of Corporation marked an important step towards strengthening the nation’s financial architecture.

He assured President Tinubu that the board understands its responsibility and will guide the institution to deliver meaningful benefits to Nigerians.

For his part, Engr. Uzoma Nwagba, Managing Director/CEO of CREDICORP, recalled watching President Tinubu saying 20 years ago that consumer credit is one of the major tools that will improve the lives of Nigerians.

He noted that over the past 18 months, the institution has benefited more than 200,000 Nigerians, including students.

He assured that the presidential vision behind CREDICORP would not be taken lightly, as the team considers their appointments a unique, once-in-a-lifetime opportunity.

Other members of the board inaugurated include Olanike Kolawole, Executive Director, Operations; Aisha Abdullahi, Executive Director, Credit and Portfolio Management; Dr. Armstrong Ume-Takang (MD, MoFI), Representative of MoFI; Engr. Bisoye Coke-Odusote (DG, NIMC), Representative of NIMC; and Mohammed Naziru Abbas, Representative of FMITI.

Others are Marvin Nadah, Representative of FCCPC; Chinonyelum Ndidi, Representative of the Federal Ministry of Finance; Mohammed Abbas Jega, Independent Director; and Toyin Adeniji, Independent Director.

FG Moves To Democratise Credit Access, Inaugurates CREDICORP Board

National News

NAPTIP, UK Government Rally Against Rising Trafficking into Southeast Asia Scam Centres

Published

4 days ago

February 23, 2026

Ochuwa Ibrahim

NAPTIP, UK Government Rally Against Rising Trafficking into Southeast Asia Scam Centres

By: Michael Mike

The National Agency for the Prohibition of Trafficking in Persons (NAPTIP), in collaboration with the British High Commission Abuja, has amplified the voices of trafficking survivors in a bold move to confront the fast-growing crisis of cyber-enabled scam operations across Southeast Asia.

At a landmark survivor-centred forum held in Abuja on Monday, stakeholders gathered under the theme, “Confronting the Global Scam Centre Crisis: Perspectives of Nigerian Survivors,” to spotlight the emerging pattern of Nigerians being lured abroad with fake job offers and forced into criminal cyber-fraud networks.

The event featured testimonies from recently repatriated Nigerians who were trafficked to Myanmar, Laos, Cambodia and Thailand, where they were compelled to operate sophisticated online scam schemes under harsh, exploitative and often abusive conditions.

The programme followed a coordinated rescue effort involving NAPTIP, the Nigerian Ministry of Foreign Affairs, the Nigerian Embassy in Bangkok, the British NGO EDEN, and the International Organization for Migration (IOM). Their joint intervention — including cross-border triangulation at the Thai–Myanmar frontier and welfare visits to detained Nigerians at Bangkok’s Immigration Detention Centre — led to the safe return of 23 survivors earlier this month.

Global data underscore the severity of the crisis. According to the Office of the United Nations High Commissioner for Human Rights (OHCHR) 2026 report titled “A Wicked Problem,” credible estimates indicate that at least 120,000 individuals are currently trapped in forced scam operations inside Myanmar alone, with figures exceeding 300,000 across Southeast Asia. The report notes that victims identified originate from at least 66 countries, and that between 2020 and 2025, 74 percent of known victims trafficked into scam centres were taken to Southeast Asia after being promised lucrative employment.

Speaking at the event, the UK Deputy High Commissioner to Abuja, Gill Lever, said the forum was designed to centre survivors’ voices and ensure their experiences inform prevention and response strategies.

“We are here to listen to survivors who have shown remarkable bravery in sharing their experiences,” she said. “The UK is working closely with Nigerian authorities and partners to ensure trauma-informed care, safe repatriation and stronger safeguards against this rapidly evolving threat.”

Representing the Director-General of NAPTIP, Mrs. Kehinde Akomolafe, the agency’s Director of Public Enlightenment, described the accounts as a stark reminder of the cruelty underpinning modern trafficking networks.

“The courage these survivors have shown is extraordinary,” she said. “Their experiences expose the brutal reality of trafficking into scam centres — a crime that strips individuals of their dignity, autonomy and freedom. NAPTIP remains resolute in protecting Nigerians from this growing menace and strengthening collaboration with international partners.”

One survivor recounted being promised a legitimate job opportunity abroad, only to be trapped in a high-security compound and coerced into online fraud under constant surveillance and threats.

“I was promised opportunity and a better life,” the survivor said. “Instead, I lived in fear and was forced to do things against my will. I am speaking out so other Nigerians can recognise the warning signs. No one should go through what we endured.”

Stakeholders at the forum called for intensified public awareness campaigns, tighter scrutiny of overseas recruitment channels, enhanced intelligence-sharing among Commonwealth partners and stronger victim-protection frameworks.

As cyber-enabled trafficking networks expand across borders, Nigerian and UK authorities signalled that survivor-led advocacy will remain central to dismantling scam syndicates and preventing further exploitation.

NAPTIP, UK Government Rally Against Rising Trafficking into Southeast Asia Scam Centres