News Agency of Nigeria
L-PRES trains 80 professionals on livestock disease control, surveillance
Agriculture

L-PRES trains 80 professionals on livestock disease control, surveillance

By Felicia Imohimi

The World Bank-assisted Livestock Productivity and Resilience Support Project (L-PRES) has trained over 80 veterinarians, para-veterinarians and community animal health workers on improved disease detection, control and eradication strategies.

The training, which drew participants from the 36 states and the FCT, also focused on awareness creation, risk management and strengthening national response to livestock diseases.

Dr Sanusi Abubakar, National Project Coordinator (NPC) of L-PRES, said on Friday in Abuja that the workshop brought together a crucial group of frontline professionals whose work directly impacts livestock health and productivity nationwide.

Abubakar, represented by Dr Mustapha Mohammad, National Animal Health Specialist of L-PRES, said the exercise was aligned with the Project Development Objective (PDO) of improving productivity and commercialisation of targeted value chain production systems.

He added that it was also aimed at strengthening Nigeria’s capacity to respond effectively to crises in the livestock sector.

“Importantly, this workshop falls squarely within the scope of Sub-Component Three of the L-PRES Project Appraisal Document, which focuses on animal health services,” he said.

According to him, the component covers antimicrobial resistance (AMR) control, vaccination against transboundary animal diseases (TADs), border surveillance, private veterinary service delivery, strengthening One Health platforms and improving the national laboratory network.

He explained that the workshop was designed to equip participants with modern disease detection and containment skills, enhance diagnostic capacity, improve collaboration among professionals, and promote community engagement in livestock disease control.

Abubakar commended the Federal Ministry of Livestock Development for its strong partnership and policy support, noting that participants should use the workshop as a platform for professional development and knowledge sharing.

Mohammad said each state and the FCT nominated a veterinary doctor and a para-veterinarian for the training.

He added that the aim was to boost their capacity in disease detection, surveillance, prevention and risk communication at the local level.

“We cannot have a robust and efficient livestock productivity when health issues are taken for granted. If you have animal mortality and morbidity, productivity cannot be guaranteed, hence the training,” he said. (NAN)

Edited by Tosin Kolade

Gospel singer Lily Perez thrills worshippers at COZA
Religious

Gospel singer Lily Perez thrills worshippers at COZA

By Victor Okoye

Gospel singer Lily Perez on Thursday ministered in music at the Commonwealth of Zion Assembly (COZA), Abuja, delivering soul-lifting sessions of praise and worship.

The service drew hundreds of worshippers, who sang along as Perez performed several of her original tracks, including ‘Eyin Nikan’, ‘Amazing God’, and ‘You Do Mind-Blowing Things’.

Perez, known for her message-driven gospel music, said her songs are written to communicate God’s unconditional love and grace.

“The Gospel is not a threat message,” she said.

“It is a love letter to anyone who believes in Jesus Christ, the begotten Son of the Father.”

She noted that the struggles of many Nigerian Christians stem from a lack of revelation about the finished work of Christ.

“The issue is not fewer prayers or shortage of pastors,” she said.

“The real gap is in knowledge, knowing that we are not just servants of God, but sons and daughters who serve a loving Father.”

Perez further spoke against the perception of a wrathful God, urging believers to embrace His love.

“God is not angry with you,” she said.

“He is madly in love with you, love you enough to die for.”

Perez has gained recognition for her unique blend of worship, Afro-fusion, and soul, using music as a platform for spiritual healing and edification.

She released her debut album Seat of Victory in 2017, followed by Amazing God in 2022. Her songs have since gained airplay on Christian radio stations and online platforms.

She continues to minister at churches and gospel concerts across Nigeria and abroad, drawing a growing fanbase with her passionate delivery and lyrical depth.

Perez urged Christians to embrace their identity in Christ and reflect His love in daily life.

“When you understand how much God loves you, it changes everything, how you live, how you worship, and how you love others,” she said.

COZA, founded in 1999 by Pastor Biodun Fatoyinbo, is a non-denominational church headquartered in Abuja.

Known for vibrant worship and youth engagement, the church hosts prominent gospel artistes and speakers from around the world.

It has campuses in Lagos, Port Harcourt, Ilorin, and Dubai, and continues to expand in reach and influence. (NAN)

Edited by Tosin Kolade

FG distributes N23bn medical equipment, essential drugs
Health

FG distributes N23bn medical equipment, essential drugs

By Tolu Aiyegbusi

The Federal Government has inaugurated the distribution of medical equipment and essential drugs valued at over N23 billion nationwide in a bid to strengthen the country’s primary healthcare system.

 

The Coordinating Minister of Health and Social Welfare, Prof. Ali Pate, who performed the inauguration in Abuja on Thursday, said the initiative was aimed at improving healthcare delivery across the country.

Pate while describing the exercise as a “promise kept” under the ongoing health sector reforms, added that it was in line with the Renewed Hope Agenda of President Bola Tinubu.

 

He cautioned against the diversion of the items, and said that the items, which were jointly worth over N23 billion, were central to revitalising the primary healthcare system.

“ We will strictly monitor the distribution of these items and any form of mismanagement or diversion of public resources will be met with firm action.

“ The ministry will work with the primary health care development agency and we will not condone diversion.

“ I will personally ensure everything is tracked and we’re also working with the security agencies like the EFCC, ICPC and NPF to ensure this,’’ he vowed.

Pate said the development would guarantee safer childbirth, access to vaccines, and treatment of common ailments such as malaria and hypertension at the community level.

According to him, for too long, primary healthcare centres were non-functional, forcing women to travel long distances for delivery, with many losing their lives in the process, while children missed out on life-saving vaccines.

 

The minister said, “ But the current initiatives would bring quality health services closer to the people, regardless of location or status.’’

 

Pate stressed that the distribution was not only about infrastructure, but also the provision of medicines, equipment, and manpower needed to restore public trust in primary healthcare facilities.

 

The minister recalled that the government began the journey of reform two years ago, stating that the effort was yielding results as Nigerian women were grateful.

 

In his remarks, the Executive Director of the National Primary Health Care Development Agency (NPHCDA), Dr Muyi Aina, described the intervention as a landmark step in actualising the Federal Government’s agenda for the health sector.

 

Aina said that over 500 revitalised Primary Health Centres across the 36 states and the FCT would benefit from the consignment of 56 categories of equipment and 80 types of essential medicines.

He said that the equipment and medicines were jointly valued at more than ₦23 billion , funded by the Federal Government and development partners.

 

According to him, the distribution builds on earlier interventions, including maternal and neonatal commodities, cold-chain equipment, and solar power installations in over a thousand PHCs nationwide.

 

Aina said: “ For the health commodities, we have 80 different medicines, worth over N14 billion , we also have 56 different primary healthcare relevant medical equipment here.

“Over N9 billion was spent for these equipment.

 

“ All these are to be distributed across the 36 states of the federation including the FCT for free.

 

“ This support reinforces our determination to crash maternal mortality and close the reproductive health gaps. Nigerians are beginning to feel the touch of leadership.

 

“ Over 14,000 women are already benefiting from emergency obstetric care, including free caesarean sections and transportation vouchers.”

 

He further disclosed that in partnership with the Renewed Hope Initiative of the First Lady, kits and other essential materials had been provided in ensuring health care service delivery in the country.

 

“ Over 69,000 frontline health workers had been trained, while states like Kaduna and Ekiti had already recruited additional skilled birth attendants and community health workers under the Federal Government’s project hope initiative,’’ Aina said.

 

He urged the states to complement the Federal Government’s gesture by investing more in staffing and equipping their health facilities.

 

Earlier, the National Coordinator of the Maternal and Newborn Mortality Reduction Innovation and Initiatives (MAMII), Dr Dayo Adeyanju, commended the Federal Government and NPHCDA team.

 

He described the gestures as a demonstration of the Federal Government’s resolve to safeguard the lives of women and children.

 

He reiterated his organisation’s commitment to supporting the Nigerian government.

Adeyanju said, “We will ensure that all these efforts reach the last mile and ensure all that the Nigerian women benefit from this noble initiative.”

 

NAN reports that primary healthcare relevant medical equipment included heat ovens, incubators, diagnostic equipment like, binocular microscopes, autoclave, machines, delivery beds and portable ultrasound machines.

 

For the health commodities, they range from antimicrobials, antimalarial, analgesics, uterotonics, hematinics, anti-infectives, blood pressure medicine, blood sugar medicine, and family planning commodities.(NAN)

Edited by Bashir Rabe Mani

ASWHAN advocates access to essential HIV services for underserved groups
Health

ASWHAN advocates access to essential HIV services for underserved groups

By Justina Auta
The Association of Women Living with HIV/AIDS in Nigeria (ASWHAN) has called for sustained efforts to reach women, children, and other marginalised groups with essential HIV services, in order to reduce the epidemic’s impact. 

Mrs Esther Hindi, National Coordinator of ASWHAN, made the appeal on Wednesday in Abuja at the close-out and report dissemination meeting of the Last Half Mile Grants Project tagged “Children of Structurally Silenced Women.”

The meeting was organised in partnership with Love Alliance, with funding from the Global Network of People Living with HIV (GNP+).

Hindi explained that the project aimed to empower women and teenage mothers living with HIV to become advocates for their own health and rights.

According to her, the project achieved this through targeted capacity-building sessions and by expanding access to prevention of mother-to-child transmission services in four states: Kebbi, Nasarawa, Delta, and Oyo.

“Too many women and children affected by HIV remain invisible in policy, underserved in healthcare, and silenced in society.

“This project has not only advanced access to essential HIV services, it has ignited a movement. It has shown that when women living with HIV are equipped, supported, and heard, they become powerful agents of change,” she observed.

Hindi emphasised ASWHAN’s continued commitment to ensure that no woman or child was left behind, and to transform structural silence into collective voice, visibility, and justice.

She appreciated the project’s funders and partners, adding that the Last Mile Grant, an innovative funding mechanism by Love Alliance, enabled deep community engagement, lifting many from “silence to strength.”

Also speaking, Ms. Funmi Adesanya, Senior Health Assistance Coordinator at the U.S. Department of State, reaffirmed their commitment to support efforts aimed at curbing HIV in Nigeria.

Adesanya, represented by Dr Margaret Shelleng, Global Fund Self-Reliance and Multilateral Advisor at the U.S. Department of State, said the initiative had brought hope to marginalised communities.

“This initiative, led by ASWHAN with support from Love Alliance, has truly given hope to children of structurally silenced women in the four beneficiary states.

“It has shown that communities and partners can work hand-in-hand to break barriers,” she said.

Isah Vatsa, Consultant at the Centre for Well-being and Integrated Nutrition Solutions (C-WINS), stressed the importance of linking HIV-positive individuals to health services and protection measures.

He urged ASWHAN to encourage its members to vaccinate their children during the upcoming Measles-Rubella campaign, targeting children aged nine months to 14 years.

“People living with HIV are highly vulnerable to the Measles-Rubella virus, which can be fatal and cause complications such as blindness, deafness, or even congenital heart defects.

 “Vaccination is the safest and most affordable way to prevent measles,” he warned.

Dr Temitope Ilori, Director General of the National Agency for the Control of AIDS (NACA), represented by Ronke Adekoye, stated that NACA is working closely with partners to ensure that by 2027, no child is born with HIV in Nigeria. (NAN)

Edited by Abiemwense Moru

Tinubu wants bankers, stakeholders to embrace reforms to build inclusive, accountable institutions
Economy/Business

Tinubu wants bankers, stakeholders to embrace reforms to build inclusive, accountable institutions

By Ginika Okoye

President Bola Tinubu has called on bankers, stakeholders, investors to embrace the new economic reforms to build agile, inclusive, and accountable institutions.
Tinubu said this at the 18th Chartered Institute of Bankers of Nigeria (CIBN) Annual Banking and Finance Conference in Abuja on Tuesday.
The President, represented by Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, said that recent government reforms had provided credibility and transmitted policies into incentives and scaling inclusion.
He listed the reforms to include forex unification, fuel subsidy removal, tax reforms, and infrastructure financing among others.
Tinubu said the reforms had contributed to the growth of the non-oil revenue collection to 40.5 per cent Year-on-Year (YoY) between January and August.
The president said the Foreign Direct Investments (FDI) inflows rebounded 2.8 billion dollars (H1) half of the year 2025.
He said the reforms had also improved public sustainability debt to Gross Domestic Product (GDP) by 37 per cent.
According to him, inclusion really means quality jobs, attractive jobs, particularly for our young men.
”In today’s rapidly changing environment, it is nations that innovate, reforms, collaborate, that will thrive and this is the path that Nigeria is firmly committed to,” he said.
On technology, he said there was the need for stakeholders to adopt technology and use it as a equaliser not a divider.
Sen. Adetokunbo Abiru the Chairman, Senate Committee on Banking, Insurance and other Institutions, said the theme of the conference was timely as it reflected current realities in the country.
Adetokunbo said the National Assembly would continue to provide robust legislative framework that would support innovation.
”Embrace innovation without compromising stability,” he said.
Dr Olayemi Cardoso, the Central Bank of Nigeria (CBN) governor said the bank was targeting a diasporan reserve of one billion dollars by 2026.
Cardoso said the diaspora reserve currently stood at 600 million dollars.
He said the CBN had prepared the framework and done everything required to enable them meet the target by 2026.
According to him, now it is over to the banks to make this happen.
”I want to commend all the banks that are driving this including Zenith, Access, Fidelity, all of them because they are many.
”I am taking a special interest in this thing and I want that to continue because it speaks volumes and makes a huge difference on how our peoplein the diaspora see us,” he said.
The Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Mr Oludare Sunday, said the Corporation would continue to support innovations in the financial ecosystem.
Sunday, represented by Mr Wale Sule, the Director, Claims Resolution of the Corporation, said NDIC was poised at ensuring that no bank depositors were left out in its claims settlement.
Mr Oliver Alawuba, the Chairman, Body of Banks Chief Executive Officers (CEOs), said the country stood at a defining moment in history where economic realities were being reshaped by digital disruption, dynamic policies and a new wave of innovation.
Alawuba, represented by Dr Roosevelt Ogbonna, the CEO of Access Bank, said the future of banking would no longer be defined by size and legacy, but by agility, trust and our ability to leverage technology in line with sound policy improvements.
”We see banking as the vehicle through which the real economy can grow and make an impact on SMEs, on the corporations and everyday citizens.
”We are drivers tasked with navigating this complex intersection, ensuring the journey is smooth, secure and beneficial for all.
”As the chairman of the body of bank CEOs, I can assure you that the banking industry remains committed to working together with policy makers, our technology partners, to design solutions that are inclusive, competitive and globally benchmarked,” he said.
In a keynote speech, Sumaila Zubairu, the Chief Executive Officer of the Africa Finance Corporation, said the country must design an economic playbook that defined her strength and addresses its challenges.
Prof. Pius Olarewaju,the President, Chartered Institute of Bankers of Nigeria (CIBN), said that banking and finance remained the engine of growth of the economy, the channel through which savings were turned into investments, and capital flows to households, businesses, and governments.
Olarewaju said that technology was an accelerator and driver of innovation and change, determining how far and fast the society could go.
”Without a strong and innovative banking and finance sector, our economy cannot grow fast enough to lift millions out of poverty and achieve shared prosperity,” he said.
The News Agency of Nigeria (NAN) reports that the two-day conference attracted Banks’s CEOs and other finance experts from across the country. (NAN)

Edited by Ese E. Ekama-Williams

NFF dismisses reports of FIFA clearing S/Africa in player row
Sports

NFF dismisses reports of FIFA clearing S/Africa in player row

By Victor Okoye

The Nigeria Football Federation (NFF) has dismissed reports suggesting FIFA has cleared South Africa of any wrongdoing in the ongoing player ineligibility saga involving Teboho Mokoena.

Ademola Olajire, NFF Director of Communications, told the News Agency of Nigeria (NAN) in Abuja on Wednesday that it had not received any official communication from FIFA on the matter.

“There has been no official communication to that effect. What people are reporting is a tweet on their (FIFA) X account. We don’t regard that as official communication,” he said.

South Africa’s Bafana Bafana risk FIFA sanctions after their midfielder, Mokoena was fielded against Lesotho in a World Cup qualifier, after receiving two yellow cards, earlier in the campaign.

By FIFA rules, two yellow cards from separate matches resulted in a one-match suspension but Mokoena played in the next game, which South Africa won 2-0.

Lesotho promptly filed a protest, asking FIFA to award them a 3-0 win and dock South Africa three points.

Six months on, FIFA had yet to issue a formal decision, while the delay added uncertainty to the situation in the CAF World Cup qualifying Group C table.

NAN reports that if Lesotho’s protest stands, South Africa will lose the match and three points, while Lesotho gains a 3-0 win with three points.

However, if FIFA finds the protest invalid or filed incorrectly, South Africa may avoid punishment and retain the already accumulated 17 points.

As things stand, Nigeria must focus on winning upcoming matches, while awaiting FIFA’s verdict.

Nigeria’s 1-1 draw with South Africa on Tuesday meant the Super Eagles occupied the second spot on the log with 11 points from eight matches.

The Super Eagles next game is an away match to Lesotho at the Toyota Stadium in Bloemfontein, South Africa, on Oct. 10, before wrapping up their campaign on Oct. 16 against Benin Republic in Uyo.

As it stands, South Africa remain in a strong position to top the group with 17 points from eight matches, while second placed Benin Republic are on 14 points.

Fourth-placed Rwanda are tied on 11 points with Nigeria, while Lesotho (6 points) and Zimbabwe (4 points) complete the six-team table.

Nigeria may now need to win all their remaining games or settle for a play-off route. (NAN)

Edited by Emmanuel Afonne

Nwokwu urges regular cancer screening for early detection
Health

Nwokwu urges regular cancer screening for early detection

By Fortune Abang

Dr Uche Nwokwu, National Coordinator of the National Cancer Control Programme (NCCP) at the Ministry of Health and Social Welfare, has called for regular cancer screening to enable early detection and treatment.

He gave the advice during a cancer awareness programme organised by the Health and Gender Desk of the News Agency of Nigeria (NAN) for staff of the agency on Monday in Abuja.

Nwokwu emphasised the importance of awareness, particularly about prostate and cervical cancers, stating that such programmes were essential in helping people make informed decisions about their health.

Explaining prostate cancer, he noted that the prostate gland is part of the male reproductive system and only found in men, just as women have the cervix.

“The prostate adds semen to sperm during ejaculation, which is its only known function. When prostate cancer occurs, concerns often arise around sexual function,” he said.

He added that older men were at higher risk of developing prostate cancer, especially those above 40, and highlighted the role of genetics in cancer risk.

“If someone in your family has had cancer, the best thing you can do is getting screened. Screening is vital for early detection,” he said.

Nwokwu explained that cancer occurred when the body, during cell regeneration, failed to correct abnormal cell growth.

“These cells then grow uncontrollably and invade healthy tissue.”

He said prostate cancer could spread quickly, especially to the spinal cord, affecting nerves and mobility.

He advised the public to eat healthy and live naturally to reduce risk.

In his remarks, NAN Editor-in-Chief, Mr Muftau Ojo, thanked Nwokwu for educating staff, stating that increased awareness would encourage early screening and treatment across the country.

“I recall that this conversation was first initiated during our editorial meeting, where the Head of the Health Desk, Mrs Abiewense Moru, made meaningful contributions.

”I am delighted that it has now come to fruition.

“Like Oliver Twist, we pray and appeal that we may have cause to invite you again in the near future, to once more draw from your fountain of knowledge,” Ojo said. (NAN)

Edited by Abiemwense Moru

NELFUND: FG disburses N2bn to students across North-West
Education

NELFUND: FG disburses N2bn to students across North-West

By Abbas Bamalli

The Federal Government says it has spent N2.086 billion through the Nigerian Education Loan Fund (NELFUND) for students of higher institutions across the North-West.

 

Alhaji Mukhtar Lawal-Tsagem, Director, National Orientation Agency, Katsina State Directorate, disclosed this in Katsina on Tuesday, while highlighting the achievement of President Bola Tinubu.

 

Lawal-Tsagem, who disclosed this at a one-day sensitisation programme, said that the funds were disbursed to about 20,919 students of higher institutions across the North-West States.

 

The News Agency of Nigeria (NAN) reports that the exercise, premised on the North-West milestones, was organised by the Federal Ministry of Information and National Orientation.

 

According to him, the Federal Government has made its presence felt at least in the zone at least in the areas of agriculture and security.

 

Lawal-Tsagem said,  “In Kebbi, wheat farmers in 12 local government areas were supported via the NAGAP programme.

”Ginger Farmers in Kaduna State received N1.6bn support.

 

“The N2bn Yawuri Water Scheme is one of the infrastructural projects of the Federal Government in the region.

 

“NELFUND programme where students of higher institutions in the country receive interest free loans that will help them pay school fees and cater for their studies needs.”

 

The director hinted that one of the major functions of the ministry was to keep the general public informed about the government programmes, activities and policies as well as mobilising them to support and appreciate the same.

 

Adamu Muhammed, a lecturer at the Department of Public Administration, Hassan Usman Katsina Polytechnic, in a paper presentation, said the region should continue to be grateful to the present administration for its laudable project.

 

“I want to call on them to cultivate goodwill with him and his government so that the region can continue to reap the benefits of this goodwill.

“Reaping the dividends of democracy and for them to also show competitive citizenship.

 

“It’s not every problem you run to the federal government, you have the local government, state assembly/National assembly members, and the states, but you cannot join your hands together and do it.

 

“And it is a problem. You have people representing the popular masses at the grassroots being given hundreds of millions every year and they are squandering the money doing nothing”, he said. (NAN)

Edited by Bashir Rabe Mani

Why Nigeria suspended raw shea exports -FG
General News

Why Nigeria suspended raw shea exports -FG

By Collins Yakubu-Hammer

The Minister of Information and National Orientation,  Alhaji Mohammed Idris, says the recent temporary ban of raw shea exports by President Bola Tinubu, is to position the country as a global leader in the shea economy.
Idris said this at the 20th Institute of Chartered Accountants of Nigeria (ICAN), Northern Zonal Accountants’ Conference in Minna, Niger.
This is contained in a statement issued by the minister’s Special Assistant on Media, Malam Rabiu Ibrahim, issued on Tuesday in Abuja.
Idris was represented at the event by the Director-General of the Voice of Nigeria, Mallam Jibrin Baba Ndace.
According  to him, President  Tinubu’s recent temporary suspension of raw shea exports is not a mere policy experiment, but a bold and forward-looking measure aimed at unlocking the full potential of our rural economy.
“By insisting that more of our shea be processed locally, the president  is ensuring that Nigeria, which accounts for over 50 per cent of the world’s shea production, does not remain a supplier of raw materials, but becomes a global leader in high-value shea products.
“Niger State, the hub of shea production in Nigeria, stands to benefit tremendously from this transformative initiative.
“This decisive step will stimulate local investment, drive technology transfer and accelerate the development of processing capacity.
“It will also bring about the creation of quality jobs for our youth and women in rural communities, boost foreign exchange earnings and deepen Nigeria’s participation in the global value chains,” he said.
He also commended the National Shea Products Association of Nigeria (NASPAN) for embracing the President’s vision, adding that the Federal Government was providing the enabling environment to make it a reality.
According to the minister, the policy on shea is a critical plank of the president’s  broader economic renewal drive, rooted in accountability, national re-orientation and inclusivity.
Idris said accountability remained the cornerstone of every thriving society and to unlock Nigeria’s future, citizens must collectively commit to doing things differently by living by the right values.
“They should also hold institutions accountable and putting Nigeria first in all their actions.”
The information minister also highlighted the ongoing reforms under the Renewed Hope Agenda, encompassing fiscal discipline, infrastructure renewal, digital transformation and youth empowerment.
He said the construction of the Lagos–Calabar Coastal superhighway, the Badagry–Sokoto superhighway, the rehabilitation of the Eastern rail corridor and the establishment of Regional Development Commissions, among others, demonstrated equitable distribution of resources, guided by fairness and accountability under the present administration.
“It is worthy to mention that the 1,068-kilometre Sokoto-Badagry super high way, which is one of the four legacy projects of the president, will pass through several states, including Sokoto, Kebbi, Niger, Kwara, Ogun, Oyo, and Lagos.
“About 125 kilometres, will be constructed within Niger state,” he said.
Idris noted that the Federal Government was  leveraging tools like the Treasury Single Account and the Government Integrated Financial Management Information System (GIFMIS) to tighten controls, reduce leakages and restore discipline in how national resources were being managed.
According to him, Nigeria’s sustained improvement in the Transparency International Corruption Perceptions Index, moving from 145th position in 2023 to 140th in 2024, is not a fluke.
“It is the result of the diligent implementation of key policies that blocked leakages and promoted accountability and transparency. (NAN)
Edited by Chinyere Nwachukwu/Maureen Atuonwu
CITM hails FG’s 2025 surplus, urges restraint on borrowing
General News

CITM hails FG’s 2025 surplus, urges restraint on borrowing

By Emmanuel Oloniruha

The Chartered Institute of Treasury Management (CITM) has commended the Federal Government for projecting a revenue surplus in 2025.

Mr Olumide Adedoyin, Registrar of CITM, said this in a statement on Wednesday in Abuja, saying the surplus was an opportunity to finance development without resorting to additional borrowing.

“The 2025 revenue surplus should be seen as a golden opportunity to fund transition without falling back into debilitating debt.

“The government is right to celebrate improved revenue, as it remains the primary tool to escape the debt trap.

“However, caution is the necessary counterbalance, stressing that the current debt level is unsustainable and threatens the nation’s economic future,” Adedoyin said.

He, however, advised the Federal Government against embarking on fresh borrowing, warning that it could plunge the country into deeper debt distress.

Adedoyin said any new borrowing must be tied strictly to critical, revenue-generating infrastructure projects.

Such borrowing, he added, should be secured only on highly concessional terms of low interest rates and long repayment periods, preferably from multilateral lenders.

“As at mid-2024, Nigeria’s debt profile is marked by rapid growth, a changing composition, and significant fiscal pressures,” he said.

The registrar stressed that the way forward was not through additional borrowing but through radical fiscal discipline, aggressive revenue mobilisation, and prudent debt management.

He added that government must also create an enabling environment where the private sector could drive sustainable economic growth.

To expand revenue, Adedoyin called for widening of the tax net by systematically bringing millions of informal businesses and high-net-worth individuals into the system through technology and data-driven measures.

He noted that taxation should focus more on wealth and consumption, not just income, while non-oil revenue sources such as solid minerals, agriculture and the digital economy must be prioritised to boost exports and tax inflows.

Adedoyin further urged government to ensure that the Nigerian National Petroleum Company Ltd. remits its full obligations to the Federation Account, saying transparency in the oil sector was non-negotiable.

On debt restructuring, he advised proactive engagement with bilateral and commercial creditors to extend repayment periods and reduce interest rates in order to ease annual debt-servicing pressure.

He also called for drastic cuts in waste, corruption and the high cost of governance, urging the merger of redundant agencies and strict enforcement of the Fiscal Responsibility Act.

According to him, savings from the removal of fuel subsidy must be channelled transparently into productive investments and targeted social safety nets, not absorbed into recurrent spending. (NAN)

Edited by Deborah Coker

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