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ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA
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:
- Repeal of existing taxes and levies especially those that are suboptimal, obsolete or unduly burdensome and enactment of new harmonised tax laws;
- Preparation of a harmonised list of taxes and levies, not exceeding a single digit in number and covering all levels of government;
- 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;
- A national fiscal risk framework for efficient fiscal governance, fiscal consolidation and stability;
- Draft bills for constitutional amendments on fiscal matters to promote fiscal federalism;
- Enhancements to the revenue administration system to improve revenue mobilization and a robust framework for tax revenue accounting and reporting to improve taxpayer trust;
- 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
News
NCTC, UNODC Inaugurate Working Group to Counter Criminal and Terrorist Finance in Nigeria’s Mineral Sector
NCTC, UNODC Inaugurate Working Group to Counter Criminal and Terrorist Finance in Nigeria’s Mineral Sector
By: Michael Mike
The National Counter Terrorism Centre (NCTC), Office of the National Security Adviser (ONSA), in collaboration with the United Nations Office on Drugs and Crime (UNODC), and with the support of the Government of Canada, has established a Technical Working Group (TWG) on Mineral Crime and Terrorism Financing.
Nigeria’s mineral sector, particularly artisanal and small-scale gold mining, has increasingly been exploited by criminal and terrorist networks.
These illicit activities have continued to deprive the government of vital tax and royalty revenues, weaken state capacity to deliver essential services, and fuel instability nationwide. By exploiting regulatory gaps and opaque value chains, criminal groups disguise illicit proceeds, perpetuating conflict and organized crime in the country.
The TWG, comprising representatives of law enforcement, intelligence and other security agencies, including those of other strategic MDAs and the Presidential Artisanal Gold Mining Initiative (PAGMI) under the latest agreement, will collaborate to strengthen the nation’s criminal justice capacity to address illicit financial flows tied to terrorism financing and money laundering in the mining sector by coordinating individual agency responses, supporting national efforts, and guiding policy reforms.
It will also promote community resilience in artisanal mining regions while integrating gender equality and human rights into government interventions.
In his keynote speech at the inaugural meeting of the working group, the NCTC National Coordinator, Major General Adamu Garba Laka, who was represented by the Centre’s Director of Preventing and Countering Violent Extremism, Ambassador Mairo Musa Abbas underscored the Federal Government of Nigeria’s commitment to cutting off terrorist financing at its source, including in the mineral sector.
He said: “Nigeria’s mineral resources remain some of the most valuable national assets we possess. Yet in recent years, the growing exploitation of these resources by criminal syndicates and violent extremist elements has become a significant threat. This is not merely a theoretical risk; it is a lived reality in several regions of our country, where illegal mining intersects with banditry, insurgency, arms trafficking and cross-border smuggling. In past years, the NCTC has recorded remarkable progress in strengthening Nigeria’s counter-terrorism financing architecture. Today’s initiative builds on this momentum. Protecting our mineral resources from criminal capture is not only a security imperative, but it is also a development imperative, an economic imperative and, ultimately, a sovereign duty.”
On his part, UNODC Country Representative for Nigeria, Mr Cheikh Toure,, in his remarks conveyed by Mr Tom Parker, Head of the UNODC Counter Terrorism Unit, praised the leadership of the NCTC, while emphasising that “Illegal mining, and the illicit financial flows generated by this activity, undermine Nigeria’s stability and development. The creation of this interagency Working Group by the NCTC is an important step in reversing this trend. UNODC is committed to strengthening Nigeria’s capacity to detect, investigate, and prosecute financial crimes linked to terrorism and organized crime. Collaboration is fundamental to defeating criminal and terrorist threats, and helps foster shared learning and policy innovation.”
Funded by the Government of Canada, UNODC is working closely with the NCTC together with agencies like Economic and Financial Crimes Commission, National Financial Intelligence Unit, the Mining Marshals Corps and the Ministry of Solid Minerals Development to build Nigeria’s capacity towards combating illicit financial flows linked to Nigeria’s mineral sector by deepening analysis of relationship between mineral-related crimes and the financing of terrorism, strengthening supervision in the financial sector by equipping both private and government actors to detect suspicious transactions, and supporting the effective investigation, prosecution, and adjudication of money laundering and terrorism financing cases at the state and federal levels.
NCTC, UNODC Inaugurate Working Group to Counter Criminal and Terrorist Finance in Nigeria’s Mineral Sector
News
NCoS empowers 120 inmates in Gombe
NCoS empowers 120 inmates in Gombe
By Peter Uwumarogie
The Nigerian Correctional Service (NCoS) says it has trained 120 inmates in vocational skills in six custodial centres in Gombe State.
The Controller of Corrections, Mr Felix Agada, said this during the graduation ceremony of the inmates on Wednesday at Tula community in Kaltungo Local Government Area of the state.
He said the initiative was of part of the mandate of the service to reform and rehabilitate inmates into better citizens upon their release from the centres.
“The aim of this skill acquisition is to achieve the Reformation, Rehabilitation and Reintegration programme of the service.
“This is to ensure that inmates become useful to themselves and the society at large after discharge to reduce the rate of crime among the youths in our communities,” he said.
Agada said the programme was being initiated and supported in collaboration with the state Chief Judge, Justice Halima Mohammed, and Smart Ideas Multi Consult Ltd.
He commended the state government’s support towards empowering the inmates and ensuring that they return to their communities with dignity upon serving out their jail terms.
Also, Justice Mohammed said her belief that everyone deserved opportunity to become better citizens moved her to initiate the programme.
She said that studies had shown that where well-structured rehabilitation and skill acquisition exist for inmates, crime rate drops drastically by more than half because “opportunity is the antidote to crime.
“In Nigeria, correctional centres were not designed to be the permanent destination; they are meant to be a bridge back into the society, not warehouse for human potential.
“Without skills, inmates who have served out their terms can not compete, without support they cannot stand, and without acceptance, they cannot start again,” she said.
Mohammed said the initiative was borne out of the need to ensure that every ex-inmate did not go back to crime but to become a “tax payer, business starter and an artisan.
“This is important because every ex inmate lost to the street is a child without a provider, community without peace and a country without productivity.”
She lauded the government’s role in reforming inmates, and stressed the need for societal support to effectively address the task of skilling every inmate while providing them with starter packs upon their release.
“Correctional reform is not a project, it’s a partnership, not a policy but a social contract; today’s fund raising is not charity but nation building, security management, economic investment and a moral duty.”
The judge therefore advocated for collective support to empower inmates with the right skills and tools.
According to Mohammed, investment in that regard is an investment in safer streets, stronger families and a more hopeful country.
Mr Musa Nelson, Head of Skills Acquisition Programmes, NCoS, said the inmates were exposed to carpentry, tailoring, fashion design, cosmetology, shoe and bags making, laundry, barbing and make up.
He said the inmates would be provided with starter packs after their six-month training exercise.
Some of the inmates commended the gesture and urged stakeholders to assist them with the required tools in line with their area of training to enable them to set up their businesses.
News
Coup D’etat: Odumegwu-Ojukwu Calls for Defence of Constitution Order
Coup D’etat: Odumegwu-Ojukwu Calls for Defence of Constitution Order
….Challenges ECOWAS to Meet Yearnings of Youth
By: Michael Mike
Minister of State Foreign Affairs, Amb. Bianca Odumegwu-Ojukwu has called on members of the Economic Community of West African States (ECOWAS) to remain steadfast in defending constitutional order, promoting inclusive political dialogue, and supporting credible transitions that reinforce stability.
Odumegwu-Ojukwu, who also called
for the acceleration of economic integration in the sub-region, challenged ECOWAS to meet the yearning of the regional youth who are looking up to the regional body to create opportunities for them.
Odumegwu-Ojukwu, spoke on Wednesday at the opening of the 95th Ordinary Session of the ECOWAS Council of Minister in Abuja.
The Nigeria’s minister while noting that as ECOWAS is still basking in the euphoria of the golden jubilee celebration, the Regional body must confront its challenges headlong.
She identified the recent surge in military take over, banditry and kidnappings as some of the challenges.
According to her: “Recent years have witnessed political instability and lack of inclusivity, including forceful unconstitutional changes of government, deliberate prolonged transitions, and governance uncertainties and deficits in a number of Member States. These situations challenge not only the democratic values to which we have all subscribed, but also threaten hard-won development gains. They undermine citizen confidence and weaken the regional cohesion that has defined ECOWAS for half a century.
“We must therefore remain steadfast in defending constitutional order, promoting inclusive political dialogue, and supporting credible transitions that reinforce stability. Our unity and collective resolve are essential to navigating these periods of uncertainty.”
She added: “At the heart of ECOWAS lies the aspiration for economic integration that delivers tangible benefits for our community citizens. It is this ideal of shared markets, interconnected infrastructure, increased mobility, and coordinated development that inspired our founding fathers to establish the regional body and has guided our Community since 1975.
“Today more than ever, we must accelerate these efforts. Our region’s future depends on deepening intra-regional trade, strengthening value chains, facilitating investments, and creating opportunities for the over 400 million people, especially the young people of 25 years and below who constitute about 65% of the population. They no doubt rely on ECOWAS to chart a path toward progress.”
She also noted the ECOWAS at 50 celebration that is still running, offered an opportunity to reflect deeply on our achievements over the past five decades.
“We celebrated the establishment of free movement, significant trade and economic integration frameworks, regional peacekeeping leadership, improved cooperation in critical sectors from health to infrastructure, and ongoing efforts to address the problems of insecurity in the region. Our accomplishments stand as a powerful testament to the vision of our founders, who understood that West Africa’s greatest strength is forged through unity, solidarity, and collective progress. Moving forward, we are inspired to reach even higher, nurturing a region defined by peace, prosperity, and limitless possibilities for generations to come.”
She therefore reminded the gathering that their insights and decisions will be instrumental in shaping the recommendations to be submitted to the Authority of Heads of State and Government.
On his part, the Sierra Leonian Minister of Foreign Affairs and Regional Integration, Timothy Kabba stressed the need to be persistent in the integration efforts.
Kabba who is also the Chairman of ECOWAS Council of Ministers said: “We must persist in our effort to foster an environment conducive to the growth of the private sector, the principal catalyst of the economic integration agenda. While it is acknowledged that integration may sometimes invoke complex sovereignty issues, it is ultimately advantageous to all Member States.
“Furthermore, it is imperative that we demonstrate a robust commitment to the promotion and enhancement of trade within the subregion.”
He also lamented the current trade gaps in the sub-region, describing it as the lowest when compared to other regions of the world.
He therefore called for the resuscitation of all trade mechanisms to boost intra-regional trade and investment.
According to him: “The current percentage of intra-regional trade lags behind that of other regions. To address this disparity, we should utilize existing mechanisms to foster greater regional economic collaboration, such as the ECOWAS trade liberalization scheme, the ECOWAS investment code, improve transport and energy connectivity, and promote digital transformation as a catalyst for innovation.
“In addition, we must address non-tariff barriers, modernize and operationalize brotherhoods, and improve the joint border management process. We must also prepare our region to fully capitalize on the opportunities presented by the African Continental Free Trade Agreement, which directly advances our internal integration agenda.”
Speaking on the current security and political situation in the region, Kabba said: “They can only be resolved through enhanced cooperation and mutual understanding among our member states. “Consequently, we must assist in investing in peace and security initiatives both through joint border operations, joint intelligence cooperation, and mediation efforts, activate the ECOWAS Standard Force, and provide support to member states facing threat.
“In addition, it is essential to ensure that diligent diplomacy, strategic leadership, political dialogue, military cooperation, and development assistance are integrated effectively to address the root causes and foster long-term resilience and sustainability.”
He charged members of the council of ministers to “seize this opportunity to reflect on the broader security and governance challenges confronting our region, and to renew our collective determination to safeguard peace, protect democratic institutions, and ensure that the aspirations of our peoples for stability and development are not derailed.
Our region has endured too many disruptions to democratic order.
“Let us stand together firmly and in solidarity to defend the principles of democracy, transparency, and the people’s right to choose their leaders.”
Coup D’etat: Odumegwu-Ojukwu Calls for Defence of Constitution Order
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