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ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA

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ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA

…As NEC appeals to organized labour to shelve planned strike

By: Michael Mike

The Vice President, Senator Kashim Shettima, has identified stability as one of the primes in the economic agenda of the Tinubu administration for the year 2024.

This is just as the National Economic Council (NEC) has appealed to the Organised Labour to shelve its planned strike, saying President Bola Tinubu remains committed to the welfare of Nigerian workers.

The Vice President stated that government at the federal, state and local government levels must remain committed to reevaluating their priorities, streamlining processes, and making bold decisions that would reflect key social issues, including social protection, social investment and nutrition.

Senator Shettima stated this on Thursday at the 136th meeting of the National Economic Council (NEC) held in the Council Chamber of the Presidential Villa, Abuja.

NEC, a statutory body that has the mandate to advise the President on the nation’s economic affairs, is chaired by the Vice President, with the Governors of the 36 states of the federation, the Governor of the Central Bank of Nigeria (CBN), Minister of Finance and other stakeholders as members.

In his opening address at the NEC meeting titled, ‘Planning for Stability: Our Agenda for Economic Growth in 2024’, Vice President Shetimma reminded the governors and other members of NEC that the weight of the tough decisions to rescue Nigeria’s economy depends on their cooperation and goodwill.

He noted that what has set President Bola Ahmed Tinubu apart as a Nigerian leader is the courage to embark on fixing the country’s economy through bold reforms.

Identifying stability as a major priority in next year’s economic agenda, the VP said, “It took courage to embark on fixing an economy hindered by decades of political lip service. But that’s what has set President Bola Ahmed Tinubu apart: his bold reforms to reposition the economy and save it from further erosion.

Other highlights of the meeting are as follows;

ACCOUNTS BALANCES:

Excess Crude Account: – $473,754.57

Stabilization Account – N34,936,868,803.58

Development of Natural Resources – N128,330,636,441.14

The Governor of Kogi State and chairman of the Committee on impact of Flood and Disaster Across the States in Nigeria, Yahaya Bello, categorized states based on degrees of damage.

He classified the states as:

Group A
States with over 15 points (most affected)
Anambra, Bauchi, Bayelsa, Benue, Borno, Kogi, Nasarawa, Niger, Rivers, Enugu, Kano, Oyo, Yobe, Zamfara
Group B
States with 10-15 points
Cross River, Delta, Jigawa, Kwara, Ondo
Group C
States with less than 10 points
Katsina, Abia, Adamawa, Akwa Ibom, Bauchi, Ebonyi, Edo, Ekiti, Gombe, Imo, Kaduna, Katsina, Kebbi, Lagos, Ogun, Osun, Plateau, Sokoto, Taraba, FCT.

COUNCIL RESOLUTION:

NEC resolved to develop a roadmap for intervention and directed NEMA to provide immediate intervention on relief to affected states. Roadmap to be developed and articulated by NEC with the Chairman of the Nigeria Governors Forum.

Presentation on the Joint Planning Board (JPB) And National Council on Development Planning (NCDP)

The presentation on the National Council on Development Planning (NCDP) and the Joint Planning Board (JPB) meetings serve as a platform for bringing together Senior Officials from Federal and State ministries, as well as other related Agencies responsible for Budget and Economic Planning, Representatives of the Organized Private Sector, the Academia, Development Partners and Civil Society Organizations to engage in in-depth discussions on economic policy issues, with a view to propose an optimal approach for enhancing economic management processes at both National and Sub-national levels.

B. Status Report on the Implementation of Key Resolutions of the 21st Edition of the JPB/NCDP Meetings

i. The FMBEP should collaborate with the States in the process of designing a template for harvesting the status of implementation of the JPB/NCDP resolutions, factoring the peculiarities of each State. i. The FMBEP should collaborate with the States in the process of designing a template for harvesting the status of implementation of the JPB/NCDP resolutions, factoring the peculiarities of each State.

C. Energy Sufficiency for Sustainable Economic Development: Options for Nigeria

i. Government at all levels should promote the migration of Heavy-Duty Industries/Transport systems from fossil fuel to Gas Infrastructure;

ii. Given the new Electricity Act that empowers States and individuals to participate in all components of the energy sector, State Governments should carry out energy audit to determine Energy needs and explore areas for collaboration with the private sector based on their comparative advantage; iii. States should develop small hydropower plants, on or off-grid, and solar, for communities and MSMEs; iv. The three tiers of Government should institute initiatives for the promotion of attitudinal change regarding energy use, wastage, and theft; and v. The government should promote Research and development, Local Content, New Energy (Hydrogen, Biofuels) Prototype Investments for energy sufficiency.

COUNCIL RESOLUTION:

Council noted that the meeting was successful and approved regular interaction and synergy among commissioners of Economic Planning across the federation.

PRESENTATION ON THE PRESIDENTIAL COMMITTEE ON FISCAL POLICY AND TAX REFORMS

The chairman of the Committee Mr. Taiwo Oyedele made presentation to the NEC on the fiscal policy and Tax Reforms, disclosing that the Committee was set up by His Excellency, President Bola Ahmed Tinubu, GCFR, to review and redesign Nigeria fiscal system with respect to:

(1) Revenue mobilisation, both tax and non-tax

(2) Quality of government spending and

(3) Sustainable debt management in addition, the committee will identify relevant measures to make Nigeria an attractive destination for investment and facilitate inclusive Economic growth.

Deliverables and outcomes

The expected outcomes from the work of the committee will include, but not limited to the following:

  1. Repeal of existing taxes and levies especially those that are suboptimal, obsolete or unduly burdensome and enactment of new harmonised tax laws;
  2. Preparation of a harmonised list of taxes and levies, not exceeding a single digit in number and covering all levels of government;
  3. Review of the 2017 National Tax Policy to produce a new National Policy on Tax and Fiscal Policy for ratification by the federal and state governments;
  4. A national fiscal risk framework for efficient fiscal governance, fiscal consolidation and stability;
  5. Draft bills for constitutional amendments on fiscal matters to promote fiscal federalism;
  6. Enhancements to the revenue administration system to improve revenue mobilization and a robust framework for tax revenue accounting and reporting to improve taxpayer trust;
  7. Establishment of National Office of Tax Ombudsman, Fiscal Policy and Tax Simplification.

COUNCIL RESOLUTION

Council noted the presentation

UPDATES ON PALLIATIVE DISTRIBUTION ACROSS THE STATES

The Governor of Kwara State, Abdulraman Abdulrazaq gave an update on the distribution of palliatives across the States. He told Council that members are making progress and urged them to re-double efforts as states looked forward for more interventions.

ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA

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Gowon: US, UK Arms Ban Forced Nigeria to Seek Soviet Support During Civil War

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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

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Community Court of Justice, ECOWAS Holds Second Moot Court Competition in Dakar

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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

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Nigeria Unveils Net Zero Investment Plan to Unlock Climate Finance, Drive Green Growth

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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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