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ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA

Published

1 year ago

September 29, 2023

Ochuwa Ibrahim

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

NAF Airstrikes killed Scores of Bandits, as troops recover large numbers of rustled cows in Zamfara

Published

4 hours ago

February 23, 2025

Ochuwa Ibrahim

NAF Airstrikes killed Scores of Bandits, as troops recover large numbers of rustled cows in Zamfara

By: Zagazola Makama

The Nigerian Air Force (NAF) troops of Operation FANSAN YANMA have successfully neutralized scores of bandits in Tsafe Local Government Area (LGA) of Zamfara State, Zagazola report.

Intelligence sources told Zagazola Makama that the successful operation was as a result of a coordinated intelligence which revealed that a large number of bandits suspected to be relatives of notorious bandit leader Ado Aleiro, along with other unidentified individuals, left Zamfara State/Tsafe LGA to rustle cattle from nearby communities.

The sources said that the bandits succeeded in stealing several livestock and were attempting to escape when they encountered resistance from local the security forces.

The troops tracked the rustlers and waited until they reached a mountainous area before surrounding them. Upon confirming their location, they alerted the Nigerian Air Force, which swiftly deployed air assets to engage the fleeing bandits.

Eyewitnesses confirmed that several bandits were eliminated in the operation, though he said that the exact number is yet to be determined. The second sources said that at least 23 bandits were killed as well as several others injured

The sources said that the troops also recovered a large number of rustled cattle.

This operation is part of ongoing efforts by the military to dismantle terrorist strongholds and curb cattle rustling, a key source of funding for bandit groups operating in Zamfara and neighboring states.

NAF Airstrikes killed Scores of Bandits, as troops recover large numbers of rustled cows in Zamfara

News

FG unveils 39 inmate transport vehicles, armoured booths for prison security

Published

1 day ago

February 22, 2025

Ochuwa Ibrahim

FG unveils 39 inmate transport vehicles, armoured booths for prison security

By: Our Reporter

Olubunmi Tunji-Ojo, the minister of interior, has inaugurated 39 mini-green Maria vehicles to ensure the safe transportation of inmates to courts during trials.

In a statement on X, the ministry said the commissioning took place at the headquarters of the Nigerian Correctional Service (NCoS).

The minister also unveiled four armoured security guard booths to protect correctional facilities from external aggression by non-state actors.

“The Hon. Minister of Interior, Dr. Olubunmi Tunji-Ojo, today inaugurated four armored security guard booths at the Nigerian Correctional Service headquarters to enhance the defense of correctional facilities against external threats,” the statement reads.

“He also unveiled 39 mini-green Maria vehicles designed to ensure the secure transportation of inmates to court during trials. These efforts reflect President Bola Ahmed Tinubu’s dedication to the safety and welfare of officers and inmates.

FG unveils 39 inmate transport vehicles, armoured booths for prison security

News

Damaturu Flyover: The Making of A Befitting State Capital

Published

1 day ago

February 22, 2025

Ochuwa Ibrahim

Damaturu Flyover: The Making of A Befitting State Capital

By: Mamman Mohammed

Since the news about the signing of the Damaturu fly over contract filtered the air, it attracted accolades in many quarters and of course, reservations in some quarters. This is very normal and usual with every human endeavour.

It is pertinent to note that His Excellency the Executive Governor of Yobe State, Hon. Mai Mala Buni CON, COMN, while presenting the 2025 budget to the state House of Assembly, emphatically said “The widespread of road projects is intended to give a facelift and accessibility to our communities. Government is committed to the completion of the seventeen ongoing road projects, and to embark on eleven new ones. The completion of the township roads and drainages in five Local Government Areas is very dear to the government. I am also pleased to inform you that work would soon commence for the construction of the Damaturu flyover. We would also commence work on the Damaturu Green Economic City”.

Similarly, the budget allocated funds to other sectors to run simultaneously to improve the lives of the people without obstructing the execution of other projects and programmes in other sectors.

Importantly, the budget went through open process of careful and critical scrutiny, with Civil Society Organizations, individuals and groups in attendance.

Throughout the public sitting, none of the interest groups and individuals identified any project including the Damaturu flyover road as a misplacement of priority that would be at the expense of another, and as they may say, it is robbing Peter to pay Paul.

There is no doubt that the Damaturu flyover project will not only check the numerous congestion and accidents in the metropolis but, also beautify Damaturu, from a glorified local government headquarters to a beffiting state capital that is comparable to its peers, and a pride of every Yobean.

This takes us to the Muhammadu Buhari lnternational Cargo Airport as a reference point. When Gov. Buni took over the leadership of the state in 2019, there was an argument for and against the completion of the airport.

Many people described it as a wasteful project while others urged the new administration to ensure its completion. And when Gov. Buni finally announced the completion of the airport which was still at skeletal stage, it put such arguments to halt.

Gov. Buni’s argument was that, abandoning the project at that level would be a monumental loss to the state that would only attract untold inflation whenever any administration decides to complete the airport. Thanks to the wise decision, and the deep futuristic thinking by Governor Buni.

Today, the argument over the completion of the airport is now history. It is
completed and commissioned. It remains
one of the iconic legacy projects, with a very prosperous future to the state.

Already, some international investors have indicated interest in direct and indirect investments in the state. The Qatari business community and most recently, the Moroccan Investment, lmport and Export Development Agency, said the airport is a window to a fruitful economic partnership that would generate employment and wealth creation.

The same criticisms greeted the Kano, Maiduguri, Yola, Kaduna and Jalingo flyovers.

Surprisingly, some characters who lauded the flyovers elsewhere have suddenly changed their positions with the Damaturu flyover.

As a known fact, there may be no single government project or programme that would generate100% support from the public, as everyone may have his opinion for or against such project.

We should always see such projects positively and support government in its development strides to make Damaturu a state capital that is in tune with the changing times.

Damaturu Flyover: The Making of A Befitting State Capital