Connect with us

News

UK Commends Nigeria’s Economic ReformsInsists Though Reforms Have Brought Hardship But Necessary for Future Growth and Stability

Published

on

UK Commends Nigeria’s Economic Reforms
Insists Though Reforms Have Brought Hardship But Necessary for Future Growth and Stability

By: Michael Mike

The United Kingdom has commended Nigeria’s Economic reforms being carried out by the President Bola Tinubu administration

The British High Commissioner to Nigeria, Richard Montgomery gave the commendation at a press conference on UK-Nigeria trade on Wednesday in Abuja.

Montgomery said though the reforms have brought high inflation and hardship but they are necessary for future growth ànd stability of the country.

He said: “President Bola Tinubu’s economic reforms are working, and they have made Nigeria more investible.

“The Naira is now more stable and more predictable. And the last quarter Nigerian economy has grown by 4%.”

He also noted that the UK is also carrying out economic reforms that will be beneficial to Nigeria because they will make business investment’s more predictable, simplify regulations of doing business.

“We also have reforms in the UK economy and we are working on how they can benefit Nigeria.”

The Director General, Presidential Enabling Business Council (PENEC), Princess Zahrah Mustapha Audu, on her part said the Naira is now more stable and it’s good for investors.

She said: “This conversation is about investment and trade; to me the Naira is more stable because it’s more predictable and prior to my appointment as DG , I use to work with the president on Foreign Direct Investment (FDI), as a technical adviser and I can tell you; one o the key things that investors look for is stability, predictability . People invest in Afghanistan not because it’s better than Nigeria,. It was a war zone but because it was predictable.

“And that is what President Tinubu has created in Nigeria. There is predictability, we no longer have that market window where we had people who were simply trading the Naira. And that have been eradicated.”

Speaking further she said: “What we’ve done now is that we have stopped the ability for agencies or departments or ministries to come up with new new policies. It must go through all the stakeholders engagement, it must go through all the assessments to make sure that the positives far outweighs the adverse reactions of the businesses.”

“We are also doing everything possible to grow our local economy.” She added

The British Country Director, Department of Business and Trade, Mark Smithson, disclosed that UK-Nigeria trade volume is £7.2 billion.

“UK/Nigeria trade volume is £7.2N and the UK has approved zero tariff on 3000 exports from Nigeria, which includes: cocoa, cashew nuts, tomatoes and others.”

UK Commends Nigeria’s Economic Reforms
Insists Though Reforms Have Brought Hardship But Necessary for Future Growth and Stability

Continue Reading
Click to comment

Leave a Reply

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

News

RHI Presents Food Items to Vulnerable Groups in Yobe State

Published

on

RHI Presents Food Items to Vulnerable Groups in Yobe State


…Making it the 20th State to Benefit from the Support

By: Our Reporter

The Renewed Hope Initiative (RHI) Food Outreach Program, launched in Abuja in March 2024 to provide monthly support to vulnerable groups and persons with disabilities, has reached Yobe State—making it the 20th state to benefit from the initiative.
Since its inception, the program has covered Abia, Adamawa, Benue, Borno, Cross River, Delta, Edo, Ekiti, Enugu, Gombe, Kaduna, Kano, Kogi, Kwara, Lagos, Nasarawa, Oyo, Plateau, and Sokoto States before arriving in Yobe.
With generous support from the Abdul Samad Rabiu Africa Initiative (ASR Africa) and another industrialist who prefers to remain anonymous, assorted food items were delivered, bringing relief to many households, particularly those with disabilities.


The First Lady and Chairman of the Renewed Hope Initiative, Senator Oluremi Tinubu, noted that donors provide two truckloads of food items to each beneficiary state for onward distribution. Represented by the Wife of the Vice President, Hajiya Nana Shettima, she highlighted Yobe as a major beneficiary of RHI programs and interventions.
These include:

  • The Tony Elumelu Foundation Women Economists Empowerment Program, which supported 500 women with ₦50,000 each.
  • The RHI Women Agricultural Support Scheme, where 20 women received ₦500,000 each.
  • A ₦68.9 million grant from the Federal Ministry of Agriculture to the Young Farmers Club.
  • Annual financial support to senior citizens, with 100 beneficiaries receiving ₦100,000 each in 2023 and 250 beneficiaries receiving ₦200,000 each.
  • A ₦50 million financial grant to 1,000 petty traders.
  • The Women in ICT Program, aimed at empowering women in the digital economy.
    According to Senator Tinubu, these interventions are designed to complement the Renewed Hope Agenda of President Bola Ahmed Tinubu.
    Yobe State Governor, Mai Mala Buni represented by his Deputy Governor, Alhaji Idi Barde Gubana reaffirmed his government’s commitment to the initiative, noting that the state has aligned with RHI through various empowerment programs for women, children, and vulnerable groups. These include the distribution of household items, skill acquisition schemes, and post-insurgency recovery programs that have economically empowered many women.

  • The State Coordinator of RHI and Wife of the Yobe State Governor, Hajiya Hafsat Kollere Buni, expressed gratitude to the First Lady for extending such impactful support to Yobe State. She also looked forward to stronger collaborations to further project the ideals of RHI and improve the lives of the people.
    Also present at the event was Dr. Ubong Udoh, Managing Director of the Abdul Samad Rabiu Africa Initiative, one of the key donors to the program.
  • RHI Presents Food Items to Vulnerable Groups in Yobe State
Continue Reading

News

Monguno says lack of national cohesion fuels insurgency

Published

on

Monguno says lack of national cohesion fuels insurgency

By: Zagazola Makama

Former National Security Adviser, Maj.-Gen. Babagana Monguno (rtd.), has warned that Nigeria’s fight against insurgency will remain elusive without national cohesion and a united front across society.

Monguno stated this in Abuja on Thursday at the launch of Scars: Nigeria’s Journey and the Boko Haram Conundrum, a new book authored by former Chief of Defence Staff, Gen. Lucky Irabor (rtd.).

He said Boko Haram and other violent groups had thrived by exploiting Nigeria’s divisions, stressing that disunity among citizens, political actors, and institutions weakened the country’s capacity to defeat terrorism.

“Without national cohesion, insurgency will not end. Terrorists feed on our fault lines – ethnic, religious, political – and they weaponise them against us. If we remain divided, no amount of military might will deliver lasting peace,” Monguno said.

He urged Nigerians to rise above parochial sentiments and embrace a spirit of patriotism, solidarity, and common purpose. According to him, the fight against insurgency must go beyond the battlefield to include reconciliation, justice, and inclusive governance.

The retired General emphasised that the scars left by Boko Haram were not just physical but also psychological and social, making unity a vital condition for national healing.

“The book reminds us that security is not just the work of soldiers. It is the responsibility of leaders, institutions, and citizens. Unless we build cohesion, insurgency will continue to mutate in different forms,” he added.

Monguno commended Gen. Irabor for documenting his experience, describing the work as a guide that combines history, strategy, and national lessons for the future.

The event was attended by former Presidents Olusegun Obasanjo and Goodluck Jonathan, the Minister of Defence, service chiefs, traditional rulers, diplomats, and senior government officials.

Monguno says lack of national cohesion fuels insurgency

Continue Reading

News

Kukah says military operations alone cannot end insurgency, stresses soft power approach

Published

on

Kukah says military operations alone cannot end insurgency, stresses soft power approach

By: Zagazola Makama

The Catholic Bishop of Sokoto Diocese, Most Rev. Matthew Hassan Kukah, has said Nigeria cannot defeat insurgency through military operations alone, stressing the need to embrace soft power and address root causes of insecurity.

Kukah made this known in Abuja on Thursday while reviewing Scars: Nigeria’s Journey and the Boko Haram Conundrum, a new book authored by former Chief of Defence Staff, Gen. Lucky Irabor (rtd.).

He said the country’s reliance on military doctrines and repeated counter-insurgency operations had failed to produce lasting peace because Boko Haram represented an ideology, not just an armed threat.

“For years, we have had Operation Lafiya Dole, Operation Restore Order, Operation Hadin Kai, Operation Safe Haven, and many others. Yet, when one operation fails, another is launched. These operations have not ended the insurgency because you cannot fight an idea with weapons alone,” Kukah said.

The cleric argued that describing the insurgency only in military terms forecloses other sources of information and non-kinetic solutions that are critical to peacebuilding.

According to him, Boko Haram’s struggle is framed as a jihad, and many of its fighters see death as martyrdom, making them indifferent to conventional deterrence.

“The challenge before us is not merely about defeating insurgents on the battlefield, but about understanding the soft issues of life and death. Guns cannot build peace; soft power must complement military power,” he said.

Kukah pointed to chapters 11, 12 and 13 of Irabor’s book, which emphasise reconciliation, good governance, justice, and national healing as critical conditions for security.

He praised the author’s reflections for going beyond military strategy, describing them as “the writings of a priest” that call for dialogue, reforms and moral renewal.

The bishop added that Nigeria must prioritise structural reforms, political inclusion, patriotism, and judicial integrity to tackle grievances that feed extremism.

“The urgency now is to invest in soft power – in human development, reconciliation, and building trust in institutions. Military operations can only create space; it is ideas and justice that will sustain peace,” Kukah said.

The event attracted former Presidents Olusegun Obasanjo and Goodluck Jonathan, senior government officials, service chiefs, diplomats, and other dignitaries.
End

Continue Reading

Trending

Verified by MonsterInsights