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Our Youths Will Transition Nigeria Into Digital Economy Powerhouse – President Tinubu

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Our Youths Will Transition Nigeria Into Digital Economy Powerhouse – President Tinubu

  • As African countries commit to greater financing, digital access at IDA21 Summit:
  • Resolve to mobilise domestic resources for Africa’s economic transformation

By: Our Reporter

President Bola Ahmed Tinubu declared on Monday that Nigeria is set to harness the potential of its youthful population to transform into a global digital economy powerhouse.

He also hinted at the nation’s plans to become a global hub for outsourcing talent within the digital and creative economy.

This was the submission made by President Tinubu who was represented by Vice President Kashim Shettima at the meeting of African Heads of State and Government on the 21st Replenishment of the International Development Association (IDA21) in Nairobi.

This is just as African Heads of State and Government committed countries on the continent to strengthen implementation capacities, mobilising domestic resources, and partnering effectively with IDA to accelerate the continent’s economic transformation.

President Tinubu also reiterated Nigeria’s plans to build a vast digital market capable of absorbing cutting-edge innovations and technologies, positioning the country as a hub for outsourcing talent in the digital and creative economy spheres.

“Being a young country with a median age of about 18, our interventions in the digital economy have been so extensive that we are no longer boasting of having the most unicorns, but preparing to serve as a global hub for outsourcing talents,” the President stated in his submission titled “The Path to Recovery: Nigeria’s Journey Beyond Sabotage”, which was delivered to the Summit by VP Shettima

President Tinubu informed other African leaders of the sweeping reforms implemented by his administration to curb illicit activities and currency manipulation that had long hindered the nation’s progress.

“Since assuming office, President Tinubu has remained steadfast in fulfilling his promise to end the reign of economic saboteurs who have long exploited and hindered the progress of our nation. I am pleased to report that our economy has escaped the phase of sabotage,” the VP noted.

Alongside the digital transformation agenda, President Tinubu said Nigeria is committed to prioritizing climate resilience and becoming an attractive destination for carbon market investments.

“The tensions resulting from climate-induced disruptions serve as a pressing call to action. The profound impact of climate change on our continent’s security underscores our dedication to transforming innovative concepts from conference discussions into tangible actions. We aim to become an investment-friendly destination for carbon market investments,” the organ was informed.

He expressed Nigeria’s belief that the summit’s communiqué would reflect the collective needs of African and IDA countries, capturing their “nuances, consensus, dreams, and projections.”

President Tinubu listed key priorities for Nigeria’s economic recovery in his administration’s Renewed Hope Agenda, anchored on poverty alleviation, to include economic expansion, job creation, enhanced access to capital, food security, and inclusivity.

He also stressed the importance of regional economic integration through instruments like the African Continental Free Trade Area (AfCFTA) Agreement to dismantle investment barriers and facilitate access to international markets.

“Our path to the future depends on nurturing strategic partnerships with other nations and development organizations. Therefore, we will utilize our absolute and comparative advantages to establish partnerships across borders,” the President said.

Earlier in his opening remarks, the President of Kenya, William Ruto, said the summit was urgent because it was “convened at a critical juncture facing a convergence of global crises which include escalating geopolitical tensions that challenge international unity, a deepening development and debt crisis that threatens our economic stability, and an urgent climate emergency that demands immediate and collective action for our planet’s survival.”

He gave instances of the devastating impact of severe flooding in the East African region which, according to him, has displaced thousands in Nairobi alone, and the vulnerability of the continent to extreme weather patterns, which points to the critical role of the IDA in financing Africa’s development and stability.

“This new normal demands our immediate and united action to safeguard our collective future. This underscores the critical role of IDA for Africa Summit as a cornerstone for financing for Africa. IDA has directed 75% of its total commitment which is nearly $26 billion to Africa in the last fiscal year with African countries comprising 8 of IDA’s top 10 borrowers. This support is not just financial but it’s a lifeline for development and stability,” President Ruto said.

Also speaking, the World Bank President, Ajay Banga, expressed optimism about Africa’s potential, saying “it’s very easy to feel hopeful when we’re together anywhere in Africa,” adding that you feel the infectious energy of young people.”

Banga affirmed the IDA’s commitment to accelerating progress on the continent, vowing to “move with urgency and purpose,” while making the institution more efficient and impactful.

“We stand at the crossroads of a new era of growth and prosperity for Africa,” he said.

At the end of the Summit, African Heads of State and Government adopted a joint communique committing countries on the continent to accelerate the continent’s economic transformation by strengthening implementation capacities, mobilising domestic resources, and partnering effectively with IDA.

They also called for an ambitious replenishment of the International Development Association (IDA) to support the continent’s development goals.

The Nairobi Communique described IDA as Africa’s largest source of concessional financing, outlining priorities for IDA21 to include building human capital, creating jobs, boosting energy and digital access, enhancing resilience to climate change and fragility, and promoting inclusive growth policies.

Our Youths Will Transition Nigeria Into Digital Economy Powerhouse – President Tinubu

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PLANNED PROTESTS: *TAC DG URGES RESTRAINT, SAYS PRESIDENT TINUBU POSSESSES ABILITY TO ADDRESS NATION’S CHALLENGES

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PLANNED PROTESTS: *TAC DG URGES RESTRAINT, SAYS PRESIDENT TINUBU POSSESSES ABILITY TO ADDRESS NATION’S CHALLENGES

By: Michael Mike

Nigerian parents have been called upon to appeal to their wards to desist from participating in any activities that may risk their lives or the lives of others.

Director General of the Nigerian Technical Aid Corps, Rt. Hon. Yusuf Buba Yakub, who made the call, Friday, in Abuja during an interactive session with newsmen, described the planned nationwide protest as an ill-wind that blows no good.

He expressed confidence in President Tinubu’s ability to address the current challenges being faced by Nigerians,while also stressing that most of what Nigerians may be considering internal challenges at the moment are actually fallouts of what the entire globe is currently witnessing.

Buba observed that all the current economic and development indices across all areas of life in the country point towards an era of positivity for Nigerians and advised all aggrieved persons to, rather than engage in any form of agitations that may pull the country back from the gains already made by the Tinubu Administration in the past one year, toe the noble path of dialogue.

“It is common knowledge that no progress can be made in a time of chaos.So it beats the imagination why any sane person will at this material time want to resort to protests to make a point.What point if I may ask?

“Nigeria is not an island.We are all witnesses to cost of living crisis across countries of the world,even in the most developed ones.We cannot be completely insulated from such realities being felt in the UK,in the United States, France, Russia,South Africa and such other places.It is not easy anywhere now across the globe; and there are factors that are causing all of this.

“All of these have arisen as a result of the ongoing war in places like Russia and Ukraine,which are major hubs in grain production and distribution.There is also the problem in the Middle East,where the Israeli-Hammas conflicts have snowballed into parts of Lebanon,Iran and the rest of that economically important corridor. You know this is the hub of oil production.Every tension in that area has a serious backlash on the global oil market and on the economy itself generally.Again,I’d like to stress that we are not insulated from any of these global challenges, including the effects of global warming!

“My advice this time is to give His Excellency,Mr President and his lieutenants time and offer the Renewed Hope Agenda the enabling environment and the requisite co-operation needed for the desired results to come.These required results cannot come from any form of disorders or negative eruptions nationwide.I can categorically tell you that the President we know and voted into office is not sleeping on anything concerning Nigeria. He is the father of the nation and no father will sit down and watch his home go into flames.

“Again, it bears repeating here that a period like this must be witnessed before we start to fully enjoy the golden era that awaits Nigeria. Mr President has continued to emphasize this fact. So, we have a group of leaders who know what they are doing and if you ask me, all that they need now from us to succeed are our prayers and goodwill. Protests have never put food on anyone’s table. Instead, what you get is what Kenya is facing today, which should even be a wakeup call for Nigeria as the big-brother country to rise and remain ever peaceful and united. Together, we know we must win.”

The former federal lawmaker, who also revealed the global respect and goodwill, which the President Tinubu Administration has continued to attract for itself for the impactful in-roads being made by the Technical Aid Corps Scheme, using technology transfer and diverse volunteering efforts in African, Caribbean and Pacific countries and beyond, said it would be absurd for Nigerians at home to chide an Administration that has in the last one year continued to win notable accolades abroad for the various policy and economic decisions it has brought to bear on the arena of political governance and social sector re-engineering.

PLANNED PROTESTS: *TAC DG URGES RESTRAINT, SAYS PRESIDENT TINUBU POSSESSES ABILITY TO ADDRESS NATION’S CHALLENGES

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Tinubu Acknowledges Nigerians High Migration Rate

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Tinubu Acknowledges Nigerians High Migration Rate

By: Michael Mike

President Bola Tinubu on Thursday acknowledged that Nigeria ranks amongst the top 10 countries with most travelled citizens on the globe.

Tinubu while quoting a United Nations figure, recognized the complexity and the scale of migration among Nigerian citizens.

Speaking at the opening of the 2024 National Diaspora Day Celebrations, with the theme “Japa Phenomena and its Implications for National Development,
Tinubu who was represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, acknowledged the significant contributions of Nigerian citizens living abroad to the country’s development.

The President while citing data, noted that 169 million international migrant workers left their countries of origin primarily to seek work, “with Nigeria having a significant diaspora population.

He added: “Currently, the United Nations ranked Nigeria amongst the top 10 countries with the most international migrants,” even as he shared his personal experience, having lived in the United States before returning to Nigeria.

He appealed to Nigerians in diaspora to bring back their experiences to contribute to national development.

The President highlighted the historical context of migration, from the transatlantic slave trade to the current global mobility competing for talent and skills.

Tinubu identified the Nigerian Diaspora Commission (NIDCOM) and presidential town hall meetings with diaspora communities, as some of the programmes aimed at engaging the diaspora in national development.

He said that the positive effects of global immigration includes huge remittances of funds to middle-income countries, with Nigeria receiving $21.9 billion in 2023.

The President encouraged Nigerians in diaspora to continue contributing to critical sectors of the economy and commended the Central Bank’s reforms, which have increased Forex and stabilized the currency.

The President also emphasized the importance of Nigerians, both at home and abroad, developing their country and encouraged participation in programmes with tremendous impact.

Speaking earlier, Abike Dabiri-Erewa, the Chairman and Chief Executive Officer of Nigerians in Diaspora Commission, revaled that Nigerians in Diaspora remmited about $100 billion from diaspora remittances in the last five years.

Dabiri-Erewa said the contribution of the Diaspora community to national development cannot be over-emphasized.

No fewer than 1,000 participants are expected at the 2-day 2024 diaspora day celebrations.

She said: “Let me also state that the contributions of the Diaspora community to national development cannot be over-emphasized.

“According to the World Bank statistics recently, Nigerian Diaspora has remitted over 99 billion US dollars into the system in the last five years. This is huge and highly commendable.

Dabiri-Erewa stressed that Diaspora is one area that needed to pay more attention to.

She said, “So, this is a sector that we need to pay more attention we haven’t pay attention to it We need to do a lot more. So we have to tap into the enormous resources we have with the diaspora.

“We are still scratching the surface. And that’s what I will say.”

On the much expected diaspora voting bill, she said the Bill which is been sponsored by the Speaker of the House of Representatives, Dr. Tajudeen Abbas has already scaled the first reading, noting that this is a huge plus for the administration.

She said: “It is worthy of note that the long awaited Diaspora Voting, which has been a consistent topic of discussion among the Diaspora community, has now passed the first reading in the Parliament, which is a huge plus for this administration.

“The Bill was sponsored by no other persons than Rt. Hon. Tajudeen Abbas, the Speaker of the House of Representatives of the Federal Republic of Nigeria and Hon. Sadiq Ango Abdulahi from Kano state. “

Also, the Speaker of the House of Representatives, Tajudeen Abbas said Nigerian Government was committed to Diaspora Elengagement for national development.

Abbas who was represented by his deputy, Benjamin Kalu announced plans to explore ways to grant voting rights to Nigerians in the diaspora, recognizing their relevance to nation-building.

He said a constitutional amendment bill has been presented to the House of Representatives, and the government is committed to making progress on this issue.

The government he said acknowledged the significant contributions of Nigerians in the diaspora to the country’s development, particularly in areas such as education, agriculture, ICT, transportation, and healthcare.

He also expressed gratitude to the diaspora community for their efforts and encouraged them to continue making a positive impact.

On his part, the President of the Senate, Godswill Akpabio acknowledged the brain drain phenomenon, where talented youth seek opportunities abroad.
He therefore stressed the need to create an environment that fosters technological growth and entices skilled professionals to return home.

The National Assembly, he said stands ready to enact necessary laws to support the return of skilled professionals and contribute to the country’s growth
He also urged Nigerians in the diaspora to remain committed to Nigeria’s progress and invest in local initiatives.

The National Diaspora Day 2024 provided a platform for Nigerians in the diaspora to engage with the government and discuss ways to drive national development. The event underscored the government’s commitment to diaspora engagement and its recognition of the community’s significant contributions to Nigeria’s growth.

The National Diaspora Day 2024 provided a platform for Nigerians in the diaspora to engage with the government and discuss ways to drive national development. The event underscored the government’s commitment to diaspora engagement and its recognition of the community’s significant contributions to Nigeria’s growth.

Tinubu Acknowledges Nigerians High Migration Rate

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Lagos Wins State with Best Climate Governance Performance

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Lagos Wins State with Best Climate Governance Performance

By: Michael Mike

Lagos State has been ranked top among the 36 states of the country on Climate Governance Performance.

Gombe States was ranked second with Ebonyi State taking the Number 3 position, both Borno State and Ekiti State jointly ranked fourth.

Oyo, Kano and Zamfara States were ranked 34, 35 and 36 respectively, in the result announced on Thursday in Abuja at an event organised by the Departmentof Climate Change in the Federal Ministry of Environment in conjunction with Society for Planet and Prosperity (SPP).

Speaking at the event, the President, SPP, Prof. Chukwumerije Okereke decried that Nigeria is ranked as one of the most climate-vulnerable countries in the world even though its contribution to global greenhouse gas (GHG) emissions is minimal, noting that the country is vulnerable due to its complex agroecological zones, burgeoning urban and rural populations, extensive coastlines which is susceptible to sea level rise, and weak climate governance systems.

He added that with its significant impact on health, food security, livelihood, and economic development, climate change is emerging as a hot topic in Nigeria, increasing featuring in national discussions and political debates, noting that Nigerian government is committed to achieving net zero levels 2060 and has initiated some projects at different levels to facilitate the process.

He said: “The effective climate change governance at the subnational level demands the consideration and mainstreaming of climate action into all aspects of government policy-making and development planning. This must be strategically done with clearly set goals and an articulation of the method that will be used to attain the spelt-out goals.”

Okereke disclosed that the template for effective climate governance at the subnational level are vision and objectives, political will, institutional arrangements, policy framework, legal and regulatory framework, climate action plan and policy implementation, financial mechanisms, stakeholders engagement, training and capacity building, monitoring and evaluation, communication and awareness and integration with national and global efforts.

Speaking at the event, the Minister of Environment, Balarabe Lawal said “Climate governance at the Sub-National level is essential for several reasons. It is at this level that the impacts of climate change are acutely felt. Lands in coastal communities are devastated by erosion while desertification is rampant in the Northern region of the Country. The Sub-National Governments are often at the forefront of implementing policies and actions that directly affect the lives and livelihoods of the people at the grassroots level, therefore, their role in driving climate action is indispensable.”

He noted that the Sub-National Climate Governance Performance Ranking was more than just a ranking, but a tool for motivation, collaboration, and accountability, adding that: “It highlights the best practices, identifies areas for improvement and fosters a spirit of healthy competition among our States and Local Governments. By celebrating the achievements of the top performers and providing support to those lagging behind, we can collectively elevate our national climate response. The criteria for this ranking are rigorous and comprehensive, reflecting the multifaceted nature of climate governance. The process encompasses policy formulation, implementation effectiveness, stakeholder’s engagement, resource allocation and measurable outcomes. This holistic approach ensures that our assessment is not merely quantitative but also qualitative, capturing the distinction of effective climate governance.”

On his part, the Minister of State for Environment, Dr. Iziaq Salako said: “Nigeria, like many other nations, is experiencing the far-reaching consequences of climate change. From intensified droughts to severe flooding, the impacts are evident across our states, affecting lives, livelihoods, and our natural ecosystems. It is against this backdrop that we must recognize the pivotal role of our subnational governments in climate action.”

He added: “Today’s event is therefore to highlight the commitment of our 36 states and the FCT to climate governance and the strides they have made in implementing policies, strategies, and actions to combat climate change. The Subnational Climate Governance Performance Ranking serves as a platform to celebrate these successes, identify areas for improvement, and foster healthy competition that drives progress.

“As we reflect on the results of the ranking that will soon be announced, it is essential to remember that this is not merely an evaluation exercise. It is a call to action, a reminder that climate change requires a collaborative and inclusive approach. Each state has unique challenges and opportunities, and it is through sharing best practices, learning from one another, and working together that we can build resilience and ensure a sustainable future for all Nigerians.”

Lagos Wins State with Best Climate Governance Performance

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