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SUBSIDY REMOVAL: NEC SETS UP AD-HOC COMMITTEE TO LIAISE WITH LABOUR UNION LEADERSHIP

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SUBSIDY REMOVAL: NEC SETS UP AD-HOC COMMITTEE TO LIAISE WITH LABOUR UNION LEADERSHIP

Urges State Governments to upscale distribution of palliatives
Mourns military personnel killed in Niger State

By: Our Reporter

In a bid to create a forum for dialogue towards resolving issues surrounding the petrol subsidy removal across the States, the National Economic Council (NEC) has constituted an Ad-hoc Committee to engage with the leadership of labour unions.

The decision was reached at the 135th meeting of NEC chaired by the Vice President, Sen. Kashim Shettima in Abuja on Thursday.

The committee comprises the Nigerian Governors Forum Chairman, AbdulRahman AbdulRazaq; Governor of Anambra State,Chukwuma Soludo; Chairman of Progressives Governors Forum, Hope Uzodinma of Imo State; PDP Governors Forum Chairman, Bala Mohammed of Bauchi State, and Abia State Governor, Alex Otti.

Vice President said the committee will liaise with the leadership of labour unions in the country to find a way forward on the emerging issues in the interest of the nation.

Council also received progress reports on the ongoing nationwide distribution of rice, grains, fertilizer, other items to States and N5 billion financial support, provided by the Federal Government and commended the Central Bank of Nigeria (CBN) and the National Emergency Management Agency (NEMA) for their interventions.

Council then noted various interventions by State governments and urged them to upscale the distribution of palliatives towards alleviating the suffering of citizens especially the vulnerable groups.

NEC also mourned the death of some military personnel in Niger State and observed a minute silence in honour of deceased, while commiserating with their families.

Below are other highlights of the meeting:

Excess Crude Account from 19th July to 14th August, 2023, $473,754.57

Stabilisation Account from 18th July to 14th August, N30,346,557,405.12

Natural Resources Account from 18th July to 14th August 2023, N115,175,616,159.65

PRESENTATION OF PRELIMINARY ASSESSMENT OF IMPACT OF FLOOD DISASTER ACROSS THE STATES IN NIGERIA BY GOVERNOR OF KOGI STATE

The Governor at the 128th NEC Meeting held on 20th October, 2022, the Chairman of the Nigeria Governor’s Forum and Executive Governor of Sokoto State, Rt. Hon. Aminu Waziri Tambuwal, drew attention of Council to the devastating effect of the 2022 flooding which affected about 31 States of the Federation that had resulted in the loss of over 600 lives, displacement of millions of people, destruction of hundreds of thousands of houses and submersion of thousands of hectares of farmlands and appealed for urgent intervention from the Federal Government to address the impact of the menace on the people and infrastructure.

Consequently, Council resolved to setup a 5-man Ad-hoc Committee on flooding comprising of Governors of Jigawa, Kogi, Anambra, Bayelsa, Lagos and Yobe State. The following were also coopted into the Committee:

Honourable Minister of Finance, Budget and National Planning

Honourable Minister of Water Resources

Honourable Minister of Agriculture and Rural Development

Honourable Minister of Humanitarian Affairs and Disaster Management

Governor of Central Bank of Nigeria

Director General, National Emergency Management Agency (NEMA)

The Terms of Reference of the Committee was to “Review the current flooding situation in the country and design a template for compensation of victims”.

The Committee had its inaugural meeting on Thursday 10th November 2022 at the Nigeria Governors’ Forum (NGF) Secretariat. Highlight of the Meeting were as follows:

The Committee acknowledged the urgency of the assignment and hence the need to expedite action in order to table a draft report at the next NEC Meeting.

A sub-committee was constituted to propose modalities to address imminent food crisis due to the flooding and possible source of funding for palliatives to victims. The Sub-committee was to be Chaired by the Executive Governor of Kebbi State and the following as Members: Ministries of Agriculture, Humanitarian, Finance, NEMA and CBN.

NEC Secretariat to develop and forward a Template with accompanying letter to all the affected States to collect data on Preliminary Assessment of the impact of the flood in the affected Communities, harmonize the data and produce report of their findings to the Committee.

LIMITATIONS

The exercise would have been more successful and effective if all the affected States had responded as and when due and according to provisions made in the template. Some of the limitations include the following:
Delay or Non-submission of filled template by some States. Only 16 out of the total number of affected States forwarded their submissions to NEC Secretariat to date as expected. About 15 others were yet to do so. The submission from defaulting States are awaited to update the database.

Some of the States that submitted did not fully complied with requisitions of the template thereby making some of their submissions difficult to process by the automated system. There is the need for compliance with laid down processes to allow for higher degree of uniformity especially considering the huge volume of data involved.

Only few States reached out to the Council Secretariat’s Technical Team for possible guidance and assistance in the exercise. States are encouraged to take advantage of the Secretariat’s personnel to address important concerns where necessary.

Only few States indicated financial implication for the damages caused thereby making it difficult to proposed a required amount of intervention.

Some submissions were not done according to the template which makes difficult to ascertain the financial implications of such states.

RECOMMENDATIONS
The plight of victims of the unfortunate flood disaster across affected States of the Federation could be alleviated if the much needed intervention from the Federal Government materialized without further delay.

There is therefore the need to expedite release of fund to affected States as recommended by designated Committees constituted by the Federal Government to that effect. This would go a long way in addressing the needs of the victims as well as offset debt incurred by some States to assist their citizens.
COUNCIL RESOLUTIONS

NEC Secretariat and officials of the Office of the Vice President to visit the affected states for on-the-spot assessment of the situation on ground. The exercise will authenticate the date submitted by state to determine needed intervention.

That Federal Government’s immediate intervention to be expeditiously carried out by NEMA, Ecological Fund Office and other relevant agencies. States to assure maximum cooperaton.

NEC resolves that all hands should be on deck to assure appropriate submission and data presentation. The quality of data collected should be enhanced to meet international standard. That the challenges of flooding deserves concerted and collective effort.

There is need to strengthen NEMA as a structure and sustainable adaptation measures for the citizens. In mobilizing resources to tem the tide of flooding, there is need to look beyond NEMA.

NEC Secretariat to come up with recommedations on the roadmap towards addressing the flood situtation.

PRESENTATION ON EXPLORING A NEC AGENDA FOR MACROECONOMICS STABILITY & SHARED PROSPERITY BY DG NESG

The Presentation was to inform the council on achieving low Inflation and stimulation Growth and Macroeconomic Objectives.

MACROECONOMIC STABILITY OBJECTIVES:

  • High and stable economy
  • Low Inflation Growth Price level
  • unemployment Account
  • Favourable Current low balance and stable exchange rate account balance

CURRENT MACROECONOMIC LANDSCAPE

  • Investment inflows have dwindled since 2019, likewise the country’s investment/GDP ratio; Crude Oil exports and refined petroleum products imports dominate Nigeria’s trade structure.
  • Nigeria’s Naira position against major trading currencies deteriorated
  • Weak FX supply and heightened demand for imports remains core drivers of exchange rate instability; market volatility persists despite recent FX alignment, driven by pressure on FX demand that widens the gap between official and parallel market rates due to inadequate supply and speculative tendencies; external reserves remain under pressure as external reserves fell by 8.3 percent from 37.1 billion in January 2023 to 33.9 billion in July 2023.
    KEY CONSIDERATION FOR IMPROVING THE OUTCOMES OF FUEL SUBSIDY REMOVAL
  • Inflationary impact: Fuel subsidy removal will increase inflation. So, there is a need for robust social programmes.
  • Efficiency in government spending: There has been a lack of clarity on how the government spends subsidy savings. This issue must be addressed.
  • Investment in the downstream and midstream segments of the industry: Achieving this will reduce huge dependence on petrol imports and strike out the need to pay subsidies on fuel.

RECOMMENDATIONS:

The NEC must insist on pushing a national legislative reform agenda for national competitiveness. It is essential that nigeria resolves the legislative binding constraints to our national competitiveness, the nesg through nassber, our partnership with national assembly and nigerian bar association has identified over 115 legislations that hinder growth, in the last few years, 10 legislations have been passed (including the cama 2020 and the pia 2021.

COUNCIL RESOLUTIONS:

  • Council commended NESG for its presentation especially on pragmatic roadmaps for tackling current economic challenges.
  • It was noted that the recommendations contained in the NESG’s roadmap needs to be reviewed to align with existing economic agenda at the national and sub-national levels for pragmatic purposes.

SUBSIDY REMOVAL: NEC SETS UP AD-HOC COMMITTEE TO LIAISE WITH LABOUR UNION LEADERSHIP

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Dabiri-Erewa Advises Youth, Hard Work Pays

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Dabiri-Erewa Advises Youth, Hard Work Pays

By: Michael Mike

Chairman/CEO, Nigerians in Diaspora Commission (NiDCOM), Hon. Abike Dabiri-Erewa, has advised Nigerian youths to embrace hard work, discipline and dignity, saying these values open doors to success.

Speaking on Day Two of the 2025 National Diaspora Day Youth Empowerment Summit at the weekend in Abuja, Dabiri-Erewa shared her personal journey from journalism to national leadership.

She said: “As a journalist at NTA, I did my job well and was proud of it. That hard work got me nominated for a Harvard course, thanks to the then Rev. Father Kukah. Though the fee was $10,000, Arcor Group sponsored me. That changed my life.”

She added: “After Harvard, she left Newsline on NTA and entered into politics. With support from Senator Remi Tinubu and encouragement from now President Bola Tinubu, she contested and won a seat in the House of Representatives, serving for 12 years before becoming SSA on Diaspora and later NiDCOM boss.

“My hard work earned me respect. Wherever you are, work hard and carry yourself with dignity,” Dabiri-Erewa told the youth.

Minister of Youth Development, Hon. Ayodele Olawande, on his part thanked the NIDCOM Boss for always involving the youth. “Commitment is the key to success,” he said, urging youth to stay focused and believe in their potential.

Speaking in the same vein, Hon. Bobby Digi-Olisa from New York, also advised youths to know themselves and take bold steps.

Similarly, Prof. Fene Osakwe advised youth to always make Nigeria proud wherever they find themselves.

On migration, Alex Oturu from National Commission For Refugees and Migration warned that overstaying visas or ignoring travel rules can make one an irregular migrant. He also cautioned youths on the risks of human trafficking.

Ms Pelumi Nubi, who drove from London to Lagos, encouraged youths to dream big despite challenges. “Start with what you have and trust yourself,” she said.

Miss Diaspora Nigeria-USA, Oyemen Ehikhamhen, also shared how the arts gave her purpose and confidence. “My crown is not just beauty — it’s a symbol of power and storytelling,” she said.

Twelve students were awarded laptops, with six overall science students sponsored by Arcor Group. Six desktops were also given to the schools, while others won laptops through a raffle draw.

The summit, which was part of the activities lined up for National Diaspora Day, continues to inspire youth to lead, innovate, and contribute to Nigeria’s growth, at home and abroad.

Dabiri-Erewa Advises Youth, Hard Work Pays

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Police arrest man for attempted suicide in Ogun church premises

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Police arrest man for attempted suicide in Ogun church premises

By: Zagazola Makama

The Ogun State Police Command has confirmed the arrest of a 29-year-old man, Victor Kalu, for attempted suicide at the premises of the Mountain of Fire and Miracles Ministries (MFM) in Ibafo.

Zagazola Makama reports that the incident occurred late Friday night at about 10:45 p.m., when the suspect was caught trying to hang himself from an electric pole.

Police sources said that the Chief Security Officer (CSO) of the church apprehended the suspect and handed him over to the police at about 10:10 a.m. on Saturday.

Kalu, a resident of Plot 7, Oluwa Sesan Street, Ejigbo Road, Ikotun, Lagos State, confessed during interrogation that he attempted to end his life due to mounting financial pressure from a loan he obtained from an online bank.

“He said the lender had threatened him to repay the loan, and with no hope of getting the money, he decided to hang himself on the electric pole at the church premises,” the police sources said.

Police detectives visited the scene, recorded statements from the complainant and the suspect, and took photographs for documentation.

The command said the suspect is in custody and the case is under investigation.

Police arrest man for attempted suicide in Ogun church premises

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VP Shettima Arrives In Addis Ababa For UN Food Systems Summit

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VP Shettima Arrives In Addis Ababa For UN Food Systems Summit

** Nigeria gifts Ethiopia 2,000 cashew seedlings

By: Our Reporter

The Vice President, Senator Kashim Shettima, has arrived in Addis Ababa, the Ethiopian capital, to represent Nigeria at the second United Nations (UN) Food Systems Summit being held from July 27 to 29.

The Vice President’s aircraft touched the ground around 4:26 p.m. local time at the Addis Ababa Bole International Airport.

On arrival, he was received by the Deputy Prime Minister of Ethiopia, Temesgen Tiruneh, the Chargé d’Affaires of the Nigerian Embassy, Ethiopia, Amb. Nasir Aminu, Dr. Suleiman Dauda, Finance Attaché, Wing Commander Gabriel Batubo, Deputy Defence Attaché (Air Force) to Ethiopia, the Deputy Head of Mission, Amb. Macy Ogbede, First Secretary, Mr. Jangado Ishaku, and other top officials of the embassy.

Immediately after his arrival, the Vice President met with members of the Nigerian delegation, including the Chargé d’Affaires of the Nigerian Embassy to Ethiopia, Amb. Nasir Aminu, and the Technical Assistant to the President on Agriculture and Executive Secretary of the Presidential Food Systems Coordinating Unit (PFSCU), Marion Moon, among others. During the meeting, he was briefed on Nigeria’s expected deliverables at the summit.

VP Shettima will join global leaders at the high-level event on advancing the transformation of the coffee value chain, roundtables and meetings aimed at bolstering Nigeria’s food security drive. #UNFSS2025

The summit will bring together global leaders to reflect on progress made since the inaugural 2021 UN Food Systems Summit and accelerate commitments towards building resilient, inclusive, and sustainable food systems.

The Vice President will also participate in other events on the sidelines of the summit, designed to spotlight real-world examples of food systems transformation, promote knowledge exchange and partnership.

One of the events on the sidelines of the summit is a ministerial roundtable on public finance, trade, and responsible investment to accelerate the transition, field trips, and networking sessions.

At a recent briefing by the Task Force on the 2nd UN Food Systems Summit, VP Shettima had outlined three key objectives for Nigeria’s delegation: positioning Nigeria as a leader of thought on African food systems reform, leveraging international partnerships aligned with domestic priorities, and advancing a private sector-led model for continental food transformation.

Meanwhile, the Nigerian government has presented Ethiopia with 2,000 cashew seedlings and 100,000 cashew seeds.

The donation, sufficient to cultivate approximately 600 hectares of land, was received by Ethiopia’s Minister of State for Agriculture, Dr. Efa Muleta Boru, as part of a shared commitment between both nations to sustainable agricultural development across Africa.

The exchange builds on Ethiopia’s earlier donation of 2,000 Haas avocado seedlings and 2,000 coffee seedlings to Nigeria in June 2025.

The initiative aligns with President Bola Ahmed Tinubu’s agricultural transformation agenda and highlights Nigeria’s commitment to “Green Revolution Diplomacy” as a tool for strengthening diplomatic ties while addressing food security challenges.

VP Shettima Arrives In Addis Ababa For UN Food Systems Summit

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