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Nation’s Record of Ease of Doing Business Responsible for Economic Woes- Lawmakers

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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

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President Tinubu: Nigeria Resolute About Building Efficient Borders Across Africa

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President Tinubu: Nigeria Resolute About Building Efficient Borders Across Africa

  • Says fragmented markets posing threats to border efficency

By: Our Reporter

President Bola Ahmed Tinubu has reaffirmed Nigeria’s resolve to work towards building an Africa where borders are efficient enough to facilitate trade and other economic opportunities instead of hindering them.

He implored African nations to be disciplined in working towards building borders that meet the high demands and rapid pace of contemporary technological advancement.

Speaking on Monday in Abuja when he declared open the Customs Pact – Partnership for African Cooperation in Trade, the President expressed delight to be a part of the event, which brought together partners and leaders from across the continent, saying it demonstrates the collective resolve to discard the old habit of accepting slow borders as destiny.

President Tinubu, who was represented by his deputy, Vice President Kashim Shettima, said while nations exist to complement one another, size, resources, and talent are inconsequential if they are trapped behind inefficient borders and fragmented markets.

“Nigeria remains firmly committed, structurally and operationally, to building an Africa that trades by design, where integration is practical, measurable and effective. Our ambition is simple: a continent where borders facilitate opportunities rather than inhibit them,” he declared.

Maintaining that “fragmented markets cannot achieve industrial scale, negotiate effectively with global powers, or withstand external shocks, the Nigerian leader noted, however, that integration “enables large-scale industrialisation, collective bargaining strength and resilient supply chains.”

Nigeria, according to him, is approaching this responsibility with practical systems and infrastructure rather than rhetoric, even as he said the strength of a continental market can only be engineered and not declared.

President Tinubu stated that while Africa had already taken the hardest step by agreeing on integration through the African Continental Free Trade Area (AfCFTA), what is crucial at the moment is execution.

“Success will be judged not by communiqués but by real outcomes: shorter border-crossing times, reliable local-currency settlements and efficient movement of goods across borders and ports. Our vision must translate from conference halls to the daily experiences of traders, manufacturers, logistics operators and farmers,” he maintained.

The President recalled that the urge to deliver the dividends of democracy to Nigerians informed his administration’s decision to reform “structural barriers to trade and investment, removing bottlenecks that limit competitiveness, and rebuilding institutions for efficient regional integration.”

In achieving this, he said the administration quickly embarked on unifying the foreign exchange window, removing fuel subsidies to redirect resources to critical infrastructure, and modernizing port operations with 24-hour clearance.

He continued: “We adopted the Pan-African Payment and Settlement System to boost intra-African trade, and we prioritised non-oil export growth across key sectors. These reforms reinforce one another, creating a coherent foundation for stronger continental commerce and competitiveness. Each decision was a step towards a Nigeria that trades with confidence and an Africa that negotiates from a position of strength.

“We believe that our institutions have been deliberately aligned into a unified trade-enablement architecture, dismantling the traditional silos that once separated agencies. The Nigeria Customs Service now advances digital clearance systems and risk-based inspections.

“The Nigerian Ports Authority drives port efficiency. The Central Bank enables local-currency settlements through PAPSS. The Standards Organisation harmonises product standards with continental frameworks. NEPC and NEXIM Bank strengthen export readiness and provide targeted financing.

“This coordinated, integrated institutional approach is essential for successful continental integration, for no single agency can deliver the scale of reform required for Africa’s prosperity.”

On the level of impact of the collective reforms on the nation’s economy, the Nigerian leader said it “is measurable, demonstrable, and progressively accelerating.

He added: “Intra-African trade is projected to expand from fifteen percent in 2023 to twenty-five percent by 2030 under AfCFTA frameworks. Nigeria’s non-oil exports to African markets increased thirty-eight percent year-on-year in 2024. Cargo clearance time at major seaports has reduced by approximately thirty percent since 2023.

“Paper-based compliance processes are being systematically replaced through digital trade reforms and automation. These metrics validate a fundamental principle: when structural barriers fall and systems function predictably, African trade expands rapidly and dynamically. Outcomes are never in doubt when processes are disciplined.”

President Tinubu described the National Single Window as central to Nigeria’s continental trade strategy, assuring that phase one of the transformative digital platform will go live in March 2026, “with full rollout by December 2026.

“It will allow businesses to submit import and export information once through a unified portal, automate inter-agency data sharing and real-time processing, apply risk-based compliance to speed up clearance for legitimate traders, and cut cargo clearance time from twenty-one days to under seven.

“This will significantly boost port productivity. Fully aligned with AfCFTA digital frameworks, the National Single Window positions Nigeria as a continental standard-bearer for customs digitalisation and seamless intra-African commerce,” he further stated.

Earlier, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, represented by the Minister of State for Finance, Dr. Doris Uzoka-Anite, urged relevant authorities in Africa to continue to dismantle barriers that hinder trade and revenue generation.

She stressed that the Federal Government of Nigeria remains committed to supporting modernisation initiatives within customs administrations and aligning with global best practices aimed at creating a business-friendly environment.

The minister further expressed Nigeria’s commitment to ensuring that AfCFTA delivers tangible benefits for citizens while improving the ease of doing business at the borders.

For her part, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said that under President Tinubu’s decisive leadership, the administration has achieved a unified exchange rate, strengthened fiscal discipline, and is on course to accelerate regional economic integration under the Renewed Hope Agenda.

She maintained that Nigeria’s commitment to AfCFTA implementation remains unwavering, while urging participants to build an Africa that trades more with itself.

Also, the Secretary-General of the World Customs Organization (WCO), Ian Saunders, applauded ongoing reforms by the Tinubu administration, assuring that the WCO stands with Nigeria in facilitating legitimate trade.

He also praised heads of Africa’s Customs for their efforts in incorporating modern standards into their operations, adding that leadership, investment, and consolidating gains in customs administration remain valuable.

The Executive Vice President of Afreximbank, Kanayo Awani, backed modernisation as a positive initiative adopted by several customs administrations, including Nigeria.

On his part, the Comptroller-General of Customs, Bashir Adewale Adeniyi, urged relevant authorities and stakeholders to adopt cross-country trade facilitation and integration, emphasizing, “We cannot continue to work in silos.”

According to Adeniyi, the primary outcome of the engagement in Abuja, which involved all African regions, is to ensure that customs administrations are more actively engaged in AfCFTA implementation, while strengthening dialogue and mutual understanding between customs administrations and the private sector across the continent.

The Secretary-General of AfCFTA, Wamkele Mene, assured that the Secretariat will work closely with the NCS to ensure that the objectives of C-PACT unfold into a pleasant reality.

President Tinubu: Nigeria Resolute About Building Efficient Borders Across Africa

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Quit illicit drug trade now or get ready for more hard time, Marwa warns barons, cartels

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Quit illicit drug trade now or get ready for more hard time, Marwa warns barons, cartels

By: Michael Mike

Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency (NDLEA) Brig. Gen. Buba Marwa (rtd) has warned drug barons, traffickers and their cartels to quit the criminal trade or face more hard time during his second tenure.

Marwa, who was reappointed by President Bola Tinubu for a second tenure of five years on Friday told jubilating management staff, officers, men and women of the agency who gathered to welcome him at NDLEA National Headquarters in Abuja following the presidential announcement that his second tenure will be hell and bleak for those who fail to quit the illicit drug trade.

He expressed appreciation to the president for the recognition of ongoing efforts against substance abuse and illicit drug trafficking in the country.

He said: “First of all, what a surprise, I did not expect to come back from jumat service to meet these great felicitations, dancing and singing by our personnel. Thank you very much. We would like to thank the almighty God, because always the glory has to go to Him for everything. We thank the President and Commander-in-Chief for the special recognition of our collective efforts and the new mandate for us to continue with the war against drug abuse and trafficking. I thank the management, officers, men and women of the agency, who continue to provide service to the nation 24/7, in spite of the risks that you all face.”

He also acknowledged the unflinching support by the Hon. Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, SAN and the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun while also expressing thanks to “all our local and international partners, with whom we have continued to collaborate towards ridding Nigeria of illicit substances.”

He added that: “First, this word must go to the cartels. The cartels have not seen anything yet. I promise them this second tenure is going to be hell and bleak for them. Drugs shall not pass, in or out or within Nigeria.”

He reaffirmed the agency’s commitment towards President Tinubu’s mandate, assuring that “in line with our Act, we will continue to do our level best. I remember in my inaugural speech, the day I took over, and I said very clearly that NDLEA will be feared by the drug cartels. And that’s just the beginning.

“At the same time, I must appeal to those who are engaged in illicit drug trafficking that this is the right time for them to drop that criminal business and face something legitimate. It is in line with that that we established the Alternative Development Unit, which seeks to persuade those who are perpetrating the illicit drug activities, particularly cannabis growers, who are our greatest challenge in Nigeria, to desist from the habit, collaborate with us. We are going to support towards licit cultivation of crops that are legitimate, legal, and you can sleep with your two eyes closed.

“But those who refuse to do that can be sure that the NDLEA is up and able on its task of law enforcement. You will be arrested, the drugs will be seized, and your assets will be confiscated. So, you come out from jail, there will be nothing left.”

He also assured that the agency will remain committed to its drug demand reduction efforts. “I’ll take the opportunity again to announce the rededication of our efforts towards prevention, sensitization, counseling, treatment, and rehabilitation of our children in our 30 rehabilitation centres. And with the support of the President and the Renewed Hope Agenda, seven more rehab centres are coming up under the 2025 budget that will now make every state to have its own rehab centre.

“And as well, there will be zonal rehab, more rehab centres and we are getting full collaboration from the Honourable Minister of Health. We appreciate his efforts also, and the Honourable Minister of Education, who has accepted our recommendation for drug tests for our children on admission to tertiary institutions, so that with this we can catch them young before it gets into addiction stage. May the Almighty God bless our President, bless all those that are supporting us, bless the officers, men and women of NDLEA.”

Quit illicit drug trade now or get ready for more hard time, Marwa warns barons, cartels

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India High Commission, KADIFF Screen Short Movies in Abuja

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India High Commission, KADIFF Screen Short Movies in Abuja

By: Michael Mike

High Commission of India, in collaboration with the Kaduna International Film Festival (KADIFF) has organized a special short Movie Screening and Panel Discussion.

The event, which held at the Chancery premises, was inaugurated by High Commissioner Amb Abhishek Singh, and brought together a vibrant cross-section of participants from the diplomatic community, including Heads of Mission, members of the Nollywood fraternity, film professionals, cultural enthusiasts, influencers, and friends of India.

The evening featured the screening of two thought-provoking short films — the Indian short film “Good Morning”, and the Nigerian film “Not So Long a Letter”.

Following the screenings, a lively panel discussion was held on the theme: “Celebration of our rich cultural heritage and the need for collaboration.”

The panelists, including Swat Duniah-Adalumo – Moderator (Journalist), Dr. Ahmed Sarari (Filmmaker), Francis Duru (Actor/Filmmaker) and Stephnora Okere (Actress/filmmaker) exchanged insights on how cinema can deepen mutual understanding, promote cross-cultural narratives, and foster creative partnerships between the Indian and Nigerian film industries.

The initiative was part of the High Commission’s ongoing efforts to strengthen India-Nigeria cultural relations and promote Indian cinema through shared artistic expressions and storytelling traditions”

India High Commission, KADIFF Screen Short Movies in Abuja

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