National News
Nation’s Record of Ease of Doing Business Responsible for Economic Woes- Lawmakers
Nation’s Record of Ease of Doing Business Responsible for Economic Woes- Lawmakers
By: Michael Mike
Nigerian lawmakers have complained about the nation’s economic situation, insisting that Nigeria’s record of Ease of Doing Business (EoDB) has not been stable and was responsible for the ongoing challenging confronting the country.
This was one of the positions of the Nigerian lawmakers at the Economic Community of West African States (ECOWAS) Parliament during the Presentation of Country Report of Nigeria at the 2023 First Ordinary Session of the Assembly in Abuja on Tuesday.
The lawmaker in the report said: “Nigeria’s record of EoDB is not stable and it is reflective of the ongoing challenges confronting our economy. To improve the situation on 14 February, 2023 the Federal Government under the leadership of His Excellency, President Muhammadu Buhari, signed into law the Busimrss Facilitation (Miscellaneous Provisions) Act 2023, a legislation that fosters an enabling environment for micro, small, and medium-sized enterprises (MSMEs) in Nigeria.”
They explained that the Act among other things would promote accountability and transparency for government agencies and business operations as well as boost technology use in Ministries, Departments and Agencies (MDGs). It would also encourage government to have legally binding agreement with the public, essentially detailing processes, documentation, and timeliness while providing amendments to some Acts such as Companies and Allied Matters Act, The Foreign Exchange (Monitoring and miscellaneous provisions) Act, Nigeria Export Promotion Council Act, National Housing Fund Act and the Nigerian Investment Promotion Commission Acts.”
They however said with the implementation of the law and consolidation of the reforms, there would be result in seamless public and private sector partnerships, thereby improving domestic businesses and attracting foreign investments while extensively impacting the economy.
They also said there are presently concerns over the smooth implementation of the 2023 national budget since the budget is largely funded by crude oil benchmarks and loan grants which are momentarily plummeting., lamenting that “this is as a result of inability of the country to find substantial buyers for its crude oil,” insisting that “this deplorable situation could be compounded by strikes in the French refining sector and maintenance at European plants where Nigeria refines her crude oil.”
The lawmakers equally expressed worries over the debt profile and its management by the Nigerian government. They said: “According to the World Bank, Nigeria used 96.3 percent of its revenue generated in 2022 to service debt and the constant fiscal deficit has aggravated the nation’s public debt stock.
“The fiscal deficit was estimated at 5.0 percent of GDP in 2022, breaching the stipulated limit for a federal fiscal deficit of 3 percent. This has kept the public debt stock at over 38 percent of GDP. As a result, the GDP is projected to be negatively impacted by the trade and financial flow repercussions of the anticipated global economic slowdown in 2023.”
They however expressed optimism, insisting that “the federal government of Nigeria is leveraging on the country’s international partnerships to stabilize the economy.
“In this regard, Nigeria and China have deepened bilateral trade relations in agriculture and agro-allied industries, mining, and investments in gas development as well as the digital economy.”
Nation’s Record of Ease of Doing Business Responsible for Economic Woes- Lawmakers
Eid-el-Fitr: IPCR Urges Nigerians to Embrace Unity, Peaceful Coexistence
By: Michael Mike
The Institute for Peace and Conflict Resolution (IPCR) has called on Nigerians to strengthen unity, tolerance and peaceful coexistence as Muslims across the country celebrate Eid-el-Fitr, marking the end of the holy month of Ramadan.
In a statement issued on Thursday in Abuja, the Director-General of the institute, Dr. Joseph Ochogwu, congratulated the Muslim Ummah in Nigeria and around the world on the successful completion of the Ramadan fast.
He said the occasion, which signifies the end of a period of fasting, reflection and spiritual devotion, provides an opportunity for citizens to renew their commitment to the values of peace, compassion and national unity.
Ochogwu urged Muslims to sustain the virtues cultivated during Ramadan—such as self-discipline, patience, charity and piety—beyond the festive period, stressing that such values are essential for building harmonious communities and strengthening the nation.
According to him, Nigerians must also rise above religious, ethnic and political differences and embrace mutual respect and peaceful coexistence as vital ingredients for national development.
“At a time when the country is confronted with complex challenges, unity of purpose and collective responsibility are crucial to overcoming divisions and building a more secure and prosperous nation,” he said.
The institute also expressed concern over recent security incidents in parts of the country, including the tragic bomb blast in Maiduguri, Borno State, which claimed several lives.
Ochogwu extended condolences to families of the victims, praying for the repose of the deceased and speedy recovery for those injured in the attack.
He reaffirmed the institute’s commitment to its mandate of promoting peacebuilding, conflict prevention and resolution across Nigeria, noting that IPCR would continue to work with government institutions, communities and other stakeholders to address the root causes of conflict.
The IPCR boss further urged citizens to remain vigilant, cooperate with security agencies and actively support peacebuilding initiatives in their communities.
“Peace is a shared responsibility, and every Nigerian has a role to play in safeguarding it,” he added.
Ochogwu also prayed that the Eid-el-Fitr celebration would usher in renewed hope, healing and unity for Nigeria while advancing peace, stability and national progress.
Eid-el-Fitr: IPCR Urges Nigerians to Embrace Unity, Peaceful Coexistence
National News
VP Shettima Visits Victims Of Multiple Explosions In Maiduguri, Assures Of FG’s Tough Response To Terrorism
VP Shettima Visits Victims Of Multiple Explosions In Maiduguri, Assures Of FG’s Tough Response To Terrorism
By: Our Reporter
The Vice President, Senator Kashim Shettima, has restated the Federal Government’s resolve to defeat terrorism, declaring that those behind recent attacks in the country will be decisively confronted.
He noted that beyond the presidential directive to security chiefs, the Federal Government was investing more in equipment and other logistics to boost the fight against terrorism across the country.
Senator Shettima spoke on Wednesday in Maiduguri when he visited victims of the bomb blast who are receiving treatment at the University of Maiduguri Teaching Hospital.
Condemning the gory multiple explosions in Maiduguri on Monday in which more than 100 people were affected by the incident, with over 20 confirmed dead, he described the perpetrators as barbaric, stressing that no cause justifies the killing of innocent people.
The Vice President said his visit was to sympathise with the injured and families affected by the tragedy, assuring of government’s support through the National Emergency Management Agency (NEMA), the North East Development Commission, and the Borno State Government.
The Vice President was accompanied by Borno State Deputy Governor Usman Kadafur; NEMA Director-General, Zubaida Umar; Chief Medical Director of the University of Maiduguri Teaching Hospital, Professor Ahmed Ahijo, and other top government officials.
VP Shettima Visits Victims Of Multiple Explosions In Maiduguri, Assures Of FG’s Tough Response To Terrorism
FG Declares Two-Day Public Holiday for Eid-ul-Fitr
By: Michael Mike
The Federal Government has declared Thursday, March 19 and Friday, March 20, 2026, as public holidays to mark this year’s Eid-ul-Fitr celebration.
The announcement was made by the Minister of Interior, Olubunmi Tunji-Ojo, who congratulated Muslim faithful across the country on the successful completion of the holy month of Ramadan.
In a statement issued on Tuesday by Permanent Secretary in the Ministry of Interior, Dr. Magdalene Ajani, on behalf of the Federal Government, the minister urged Muslims to uphold the core values of love, generosity, peace, tolerance, and sacrifice, which define the Ramadan period. He emphasized the need for Nigerians to reflect on these virtues beyond the fasting season as part of efforts to build a more harmonious society.
Tunji-Ojo also called on citizens, regardless of religious affiliation, to use the festive period to pray for national peace, unity, and sustained progress, noting that collective responsibility remains key to the country’s stability.
He further encouraged Nigerians to celebrate responsibly and extend kindness to the less privileged, in line with the spirit of the season.
The declaration underscores the government’s continued commitment to promoting unity and peaceful coexistence in the country, as millions of Muslims prepare to celebrate one of the most significant festivals in the Islamic calendar.
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