Connect with us

News

ECONOMIC STABILITY IS OUR PRIORITY IN 2024 AGENDA – VP SHETTIMA

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Passenger Abducted in Katsina-Ala–Takum Boundary Attack in Benue

Published

on

Passenger Abducted in Katsina-Ala–Takum Boundary Attack in Benue

By: Zagazola Makama

Armed men have abducted a passenger from a commercial vehicle along the Katsina-Ala–Takum road, Benue State.

Zagazola Makama gathered that the incident occurred at about 8:30 p.m. on Friday, Aug. 8, 2025, when the Toyota Carina II, with registration number KLD 108 AA, was heading to Katsina-Ala from Takum, Taraba State, with seven passengers onboard.

At Tsede Village, which lies on the boundary between Katsina-Ala and Takum, the gunmen blocked the road, robbed the occupants, and whisked away one passenger later identified as NYSC member Saadu Dauda from Zamfara State.

His identity was confirmed through a corps member ID card found in his bag left in the vehicle.

Security operatives have launched a coordinated operation to track the assailants and rescue the victim.
End

Continue Reading

News

Transcorp Hilton Abuja Appoints New General Manager

Published

on

Transcorp Hilton Abuja Appoints New General Manager

By: Michael Mike

The Management of Transcorp Hilton Abuja has appointed Mr. Martin Zarybnicky, as the new General Manager. His appointment took effect on August 1st 2025.

This was disclosed in a statement made available at the weekend by the eCommerce Manager, Transcorp Hilton Abuja, Ijeoma Osuji.

According to the statement, Martin brings over 30 years of global hospitality experience to the role, having held leadership positions at international hotel brands across EMEA and APAC, including tenures in Thailand, Egypt and Russia. The new role marks Martin’s return to Hilton, where he previously served as General Manager at Hilton Sharm Waterfalls Resort.

Speaking on the latest development, thr Managing Director/CEO Transcorp Hotels Plc, Mrs. Uzo Oshogwe, said: “We are delighted to welcome Martin Zarybincky to the Transcorp Hotels family. His wealth of international experience brings fresh perspectives that will enrich our culture and elevate the guest experience we are known for. We look forward to supporting him as he settles into his new role and to the impact his leadership will bring in driving excellence for our guests.”

A seasoned hotelier, Martin has a strong track record in driving operational excellence, enhancing guest satisfaction, leading major refurbishments, and repositioning hotels for long-term commercial success. His leadership has earned multiple industry awards and recognition across the Middle East, Asia, and Europe.

Andreas Lackner, Vice President, Operations, Sub-Saharan Africa & Indian Ocean, Hilton, said: “Martin brings a wealth of global hospitality experience and a strong history of impactful leadership to his new role. His background across diverse markets and brands makes him an excellent fit for Transcorp Hilton Abuja, and we are pleased to welcome him back to Hilton.”

In his new role, Martin will oversee all aspects of hotel operations, driving strategic growth, operational efficiency, and an elevated guest experience in line with Hilton’s standards of excellence.

“Nigeria remains a leading hub for inclusive growth across Africa. At Transcorp Hilton Abuja, we are committed to supporting the development of hospitality in this vibrant market. I am proud to be part of the amazing team here, and together, we are eager to continuously showcase the warmth and excellence of genuine Nigerian hospitality,” said Zarybnicky.

Located in Abuja’s commercial district, Transcorp Hilton Abuja is a 668-room iconic property that has welcomed guests since 1987. As one of the largest hotels in sub-Saharan Africa, it remains a national landmark, which is owned by Transcorp Hotels Plc and managed by Hilton under the Hilton Hotels & Resorts brand.

Transcorp Hilton Abuja Appoints New General Manager

Continue Reading

News

Security forces Arrest Five, Rescue SSG Zamfara’s Family from Abductors

Published

on

Security forces Arrest Five, Rescue SSG Zamfara’s Family from Abductors

By: Zagazola Makama

Security forces in Zamfara have rescued family members of the Secretary to the State Government (SSG), Malam Mohammed Abubakar Nakwada, who were abducted on July 27.

Zagazola Makama learnt that the victims, Sadiya Nakwada, Aisha Nakwada, and Abubakar Dan Fulani were rescued following a joint operation by the Zamfara State Police Command’s tactical teams and the Force Intelligence Department’s Special Tactical Squad (FID STS) from Force Headquarters, Abuja.

Five suspects were arrested in connection with the case. They are Hamza Umar, Abubakar Abdullahi, Aisha Umar, Mohammed Ibrahim, and Igeh Mohammed, all residents of Mareri area in Damba District, Gusau LGA.

Sources said the victims have been taken to a Hospital in Gusau for medical attention, and will be reunited with their family soon.

Security forces Arrest Five, Rescue SSG Zamfara’s Family from Abductors

Continue Reading

Trending

Verified by MonsterInsights