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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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Chinese Embroidery Companies Make Inroads into Nigeria to Empower Youth

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Chinese Embroidery Companies Make Inroads into Nigeria to Empower Youth

By: Michael Mike

The drive to unearth the potential of Nigeria’s creative sector and further empowers the youth has received a boost as a youth-focused initiative aimed at building sustainable fashion-based businesses across the country.was unveiled on Wednesday

The unveiling was done in Abuja by Embroidery Chief in collaboration with leading Chinese embroidery machine manufacturers Dahao and Futong,

Speaking during the unveiling at a stakeholders’ engagement themed “Stitching the Future: Building Sustainable Embroidery Businesses in Africa,” the Founder of Embroidery Chief, Mr. Lukman Abdulsalam, said that the initiative is designed to empower young Nigerians with practical embroidery and fashion design skills that can be turned into profitable ventures.

According to him, the project launched in partnership with leading Chinese embroidery machine manufacturers Dahao and Futong, will begin with the establishment of innovation hubs in 10 states, including Lagos and Kano. Each hub will be equipped with 50 embroidery machines, offered at subsidized rates to make them accessible to young entrepreneurs.

Abdulsalam noted that training programmes will run in three phases: one month for design, two weeks for machine operation, and one month for technical repairs.

He said that many young Nigerians already possess natural creativity but lack the technical skills to fully express and monetize their talent.

Abdulsalam said: “The purpose of this gathering is to raise awareness about key issues in the fashion industry, how individuals can upscale, identify existing gaps, and connect with the right people and opportunities.

“We aim to collaborate with the government, which is why we have key stakeholders here today. Our plan is to establish hubs in about 10 states. Each hub will receive approximately 50 embroidery machines, and we will train end users on machine operation, technical support, and digital design creation.

“This initiative will begin with 10 states as a pilot. We are committed to empowering individuals by providing these machines at subsidized rates, making them affordable for emerging entrepreneurs.

“In Nigeria, many people still lack the technical knowledge to properly size and digitize designs using software. That’s why training is essential. Once people learn how to use both the machines and the software effectively, it will foster healthy competition and unlock creativity across the board.

“Youth will be able to create designs on sneakers, shoes, bags, clothing, even decorative frames. The possibilities are vast, and with the right skills, we can unlock an entirely new wave of innovation in the fashion industry.”

In his remarks, Michael Zuo, Senior Sales Executive at Dahao, said the company is seriously considering setting up a branch office in Nigeria to support the growth of the embroidery ecosystem.

Also speaking at the event, the Senior Special Assistant to the President on Industrial Training and Development, Hon. Adamson Ayinde who was represented by Dr Taiwo Bashir, described the initiative as a golden opportunity for Nigerian youth.

He noted that there are numerous areas where the government can collaborate, which is likely why the Senior Special Assistant (SSA) to the President asked him to attend the event on his behalf.

He said: “This is a great opportunity for Nigerian youth, as the embroidery industry is worth millions of dollars and still largely untapped. There is so much to be done, and anyone with the vision and willingness to act now stands to benefit immensely.”

Chinese Embroidery Companies Make Inroads into Nigeria to Empower Youth

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Troops neutralise bandit, rescue victim in Wase ambush operation

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Troops neutralise bandit, rescue victim in Wase ambush operation

By: Zagazola Makama

Troops of Operation LAFIYAN JAMA’A have neutralised a suspected bandit and rescued a kidnapped victim during a successful ambush operation in Sabon Gari village, Wase Local Government Area of Plateau State.

Zagazola Makama was reliably informed that the operation, which occurred at about 2:00 p.m. on Wednesday, followed credible intelligence on the movement of bandits along the Kampani–Zurak–Sabon Gari axis.

According to the sources, troops of Sector 2, deployed under Operation Safe Haven, laid a tactical ambush at key crossing points used by the criminals.

During the engagement, one bandit was neutralised while others fled the scene. The troops later combed the general area and rescued one Mr. Amadu Alhaji Nuhu, a 45-year-old man from Taraba State, who had been held captive.

Items recovered from the scene included one fabricated pistol, a pistol magazine, four rounds of 9mm ammunition, one boxer motorcycle, a pair of shoes, a cap, and a head warmer.

The rescued victim and recovered items are currently in safe custody, while efforts are ongoing to apprehend the fleeing criminals.

Troops neutralise bandit, rescue victim in Wase ambush operation

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Two killed, several injured as bandits attack vigilantes in Kwara

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Two killed, several injured as bandits attack vigilantes in Kwara

By: Zagazola Makama

Two persons have been confirmed dead and several others injured following a bandit attack on vigilante operatives in Edogi, Lafiagi axis of Kwara State.

The incident, which occurred during a clash between the vigilantes and suspected bandits, also left four persons with gunshot wounds. Among the injured are Mohammed Ndagi,Saidu Jiya,and Philips John,all members of the Vigilante Group of Nigeria (VGN). A civilian passerby, Babangida Daniel was also caught in the crossfire.

They were rushed to the General Hospital in Lafiagi for emergency treatment. However, the VGN Commander, Mohammed Yatsu (50), and Babangida Daniel were confirmed dead by medical personnel.

The remaining injured victims have been referred to the University of Ilorin Teaching Hospital (UITH) for further medical care.

Meanwhile, ASP Sado Sunday, who was reportedly involved in the operation, remains missing as search efforts continue.

Security sources say efforts are underway to track down the perpetrators and restore calm in the area.

Two killed, several injured as bandits attack vigilantes in Kwara

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