Page 821 – NEWS AGENCY OF NIGERIA

Philip Daniel Yatai
Mar, Wed, 2024

FG restates commitment to stabilise economy

158 total views today

By Ese Williams

The Federal Government has restated its commitment to continue to take measures to stabilise the economy.

Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, said this in Abuja at a Podcast hosted by Bruit Costaud in collaboration with Ballard Partners of U.S.A.

The News Agency of Nigeria (NAN) reports the immediate past Minister of Information and Culture, Alhaji Lai Mohammed is the Managing Partner of Bruit Costard, a lobbyist and public relations firm and an affiliate of Ballard Partners.

The podcast monitored by NAN, Edun said President Bola Tinubu inaugurated the micro-economic reform aimed at stabilising the economy.

“Currently, we are in a state of micro-economic reform. We have a drive towards stability of the economic environment.

“It started on May 29, 2023 when President Bola Tinubu inaugurated the first of a couple of very important, bold and necessary micro-economic measures to put the economy on a sound footing,’’ the minister said.

According to him, with the present state of the economy, Nigeria “is not where it should be, in view of its land mass and population’’.

“When you look at the natural resources and of course, the quality of human resources in Nigeria, definitely, we are not where we should be.

“We are the largest in Africa and soon to be the second or third largest populations in the world,’’ he said.

On Foreign Direct Investments (FDIs), Edun said that efforts were being made to stabilise the environment for investors, foreign and local.

“We must admit that Nigerian investors, whether in the banking system, fast-moving consumer goods have the capacity to give anybody a run for their money.

“The improvement will not only be for the foreign investors, but for all investors.

“As we go abroad and talk of attracting foreign investors, we also look for opportunities for Nigerian businesses to be able to invest efficiently and profitably in those markets abroad.

“So, it is a two-way thing. The key to growing the economy is first of all stabilising it and once it is stable, things will fall in place,’’ he said. (NAN)

CBN donates over 2 million bags of fertiliser worth N100bn to farmers

Afonne Emmanuel
Mar, Wed, 2024

CBN donates over 2 million bags of fertiliser worth N100bn to farmers

298 total views today

By Kadiri Abdulrahman

The Central Bank of Nigeria (CBN) has donated over 2 million bags of fertiliser brands worth N100 billion to farmers through the Federal Ministry of Agriculture and Food Security.

Mr Yemi Cardoso, the Governor of the CBN, presented the bags of fertiliser brands to the Minister of Agriculture and Food Security, Abubakar Kyari, on Wednesday in Abuja.

Cardoso said that the gesture aligned with one of the core objectives of the apex bank and the agriculture ministry, which is food security.

He said that the initiative also resonated deeply with livelihoods of all Nigerians, and was aimed at curbing escalating cost of food.

“The CBN places a significant emphasis on maintaining price stability as one of its primary mandates.

“Food prices are a crucial component of inflation, especially considering that a substantial portion of household expenditure in Nigeria is allocated to food and non-alcholic beverages.

“This reinforces the critical need to address food inflation as a pivotal aspect of managing overall headline inflation,” the CBN governor said.

Cardoso also said that the apex bank had been implementing measures to curb inflation over time.

“But in the short term, the inflationary pressure may persist, predominantly driven by escalating food prices.

“This is why we are strengthening our collaboration with the Federal Ministry of Agriculture and Food Security with the shared objective of mitigating the surge in food prices.

“The CBN has veered away from direct quasi-fiscal intervention and transiting towards leveraging conventional monetary policy tools for executing monetary policy effectively.

“We want to extend our support and closer ties with Ministry, Departments and Agencies (MDAs) that bear this mandate.

“And we aim to enhance our partnership with the agriculture ministry to enhance food productivity and security,” he said.

In his response, Kyari, commended the apex bank for the kind gesture.

He assured the CBN governor that the fertilisers would be effectively distributed to farmers.

“We will deliver the fertilisers to the farmers and ensure its judicious use to address the galloping inflation, ” he said.

The Minister of Budget and Economic Planning, Sen. Atiku Bagudu, who was also present at the event, commended the CBN for the gesture towards price stability.

According to Bagudu, 2.15 million bags of fertilisers will go a long way towards controlling the ever increasing cost of food. (NAN)(www.nannews.ng)

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Edited by Bayo Sekoni

Wike promises improved security, more infrastructure for FCT residents

Philip Daniel Yatai
Mar, Wed, 2024

Metro

Wike promises improved security, more infrastructure for FCT residents

173 total views today

By Philip Yatai

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has promised improved security and more infrastructure to residents of the FCT, Abuja.

Wike gave the assurance while briefing newsmen, after a closed-door session with Senators at the National Assembly, in Abuja on Wednesday,

The News Agency of Nigeria (NAN) reports that the senate had invited the minister and the Commissioner of Police, FCT Command, to brief the lawmakers on modalities put in place to secure residents of the FCT.

The minister said the interaction was fruitful, adding that the senators had agreed that security has significantly improved in the FCT.

“I am glad they are all happy with what we have done, what we are going to be doing and they provided some suggestions on ways forward.

“What is important is what the FCT should expect from now. I will say improved security, more infrastructure. You can see what is going on in the FCT. It has been turned into a construction site.

“You can also see what has happened in the FCTA. Now we have our own Civil Service Commission; now we have our own Permanent Secretaries which has never been.

“There are new things in the FCT, and the residents are happy,” Wike said.

He noted that no society existed without one form of crime or the other, adding that what was critical was being able to limit or reduce the level of insecurity.

On the spate of kidnappings, the minister said: “Most of the kidnapping stories you hear, some of them are stage-managed by people. There are some internal arrangements.

“Take for example, you have a housekeeper or a driver in the house who will plot to kidnap the child of their boss. In such a case, what do you expect us to do?

“What we can do is to ensure that the person that is kidnapped is released.”

The minister said the two most wanted kidnappers, terrorising residents of the FCT had been arrested, adding that the development had reduced the level of kidnappings in Abuja.

“We are not saying we have gotten to where we want to be but we are doing a lot and people should acknowledge that what used to be is not what we are seeing now.

“We will continue to do our best to ensure that we provide the best to our people.

“We cannot give you the assurance that there will be no form of criminality, nobody can do that, as long as we are humans,” the minister said. (NAN)

Edited by Chioma Ugboma

Experts want Nigeria to join BRICs for economic transformation

Muhyideen Jimoh
Mar, Wed, 2024

Business

Experts want Nigeria to join BRICs for economic transformation

306 total views today

By Angela Atabo

A group of academicians have emphasised the need for Nigeria to join BRICS, an economic bloc comprising Brazil, Russia, India, China and South Africa for economic transformation.

The experts made the call at a summit in Abuja on Tuesday, with the theme: “BRICS+ And Global South Collaboration; Problems and Prospects”.

According to Prof. Williams Ijoma, President, United Nations Economic and Social Council Foundation, BRICS countries operate as an organisation seeking to further economic cooperation among member nations and increase their economic and political standing in the world.

“Nigeria joining BRICS is a gateway to boost its influence around the world, no doubt about it. This is based on the abundant human and natural resources to leverage on.

“UNESCO in collaboration with Universal Migration Enlightenment Centre is committed to increasing public awareness of the noble goals and prospects of BRICS and its power and impact on all aspects.

“Let me state unequivocally that Nigeria is ripe to become a member of the organisation.

“Already, the authorities are towing the path which I consider germane in our collective bid to strengthen the naira; revive the economy and enhance good governance,” he said.

He commended the Federal Government led by President Bola Tinubu, for his efforts to reposition the economy and making moves to join BRICS.

He called for synergy among Nigerians to achieve the set goal of becoming a member of BRICS, thereby, putting the country back to global reckoning and free itself from economic strangulation policies of the West.

Prof. Maurice Okoli, Fellow, Institute for African Studies and the Institute of World Economy and International Relations, Russian Academy of Sciences, said Nigeria joining BRICS was of great advantage.

“Nigeria joining BRICS will not affect her membership in other organisations.

“As a country you can belong to so many organisations, what you are looking for is how to grow your economy to ensure your people benefit economically,” he said.

Also, Prof. Ajibade Biodun, Founder, Horizon International University, Nigeria, said that joining BRICS would lessen the western grip on the country.

According to Biodun, it is time for us to look inward for vision able to sustain economic delivery.

“BRICS is the right way to go, South Africa went with BRICS years ago and has advanced economically.” (NAN)(www.nannews.ng)

Edited by Chinyere Bassey/Folasade Adeniran

First Lady, NITDA inaugurate digital centre, e-learning facilities in Oyo

Olawunmi Ashafa
Mar, Wed, 2024

Science & Tech

First Lady, NITDA inaugurate digital centre, e-learning facilities in Oyo

264 total views today

By Olatunde Ajayi

The National Information Technology Development Agency (NITDA), in collaboration with the First Lady, Sen. Oluremi Tinubu, on Tuesday, inaugurated a digital economy centre and e-learning facilities in Ogbomoso, Oyo State.

The News Agency of Nigeria (NAN) reports that the project, located at the Ogbomoso Girls’ High School, is a collaboration between the Renewed Hope Initiative of the First Lady and NITDA.

It is aimed at providing more access to technology for women and girls in Nigeria.

Speaking during the inauguration and handing-over of the project, Mrs Tinubu described the initiative as a strategic step foward in setting the path for Nigerian women and girls to participate and strive in the digital revolution.

Mrs Tinubu, represented by Mrs Tamunominini Makinde, the wife of Gov. Seyi Makinde of Oyo State, said the project was “a further demonstration of the Bola Tinubu administration’s commitment to ensuring equitable access to opportunities across the country.

“In our quest for national development, we must recognise the undisputable role of technology in advancing gender equality by ensuring women’s full participation in the digital revolution through access to technology.

“We can unlock the potential that will enable women and girls to contribute meaningfully to economic growth, innovation and social progress toward national better prosperity.

“As we strive toward building a more inclusive and equitable society, I urge all beneficiaries to take ownership of the project and maximise benefits of the centre.”

She added that the Renewed Hope Initiative’s social investment programme in collaboration with NITDA under the National Digital Gender Inclusion strategy would do more.

Mrs Tinubu said the programme would see the equipping of more centres with e-learning facilities in the remaining states of the federation before the end of the year.

Also speaking at the event, the Oyo State Commissioner for Education, Science, and Technology, Prof. Salihu Adelabu, said the state government would soon move a step forward in the digital world.

He said the state government would implement a Connected Learning for Science Technology Engineering and Mathematics digital platform in the state’s schools.

Adelabu expressed the readiness of the government to drive education through innovative technology.

“Schools in the state will be digitally connected within a target period of two years,” he said.

In her remarks, the Principal of the school, Mrs Zainab Odekunle, said the e-learning facilities would give easy access to modern resources for both their teachers and students.

Edited by Ifeyinwa Okonkwo/Chinyere Joel-Nwokeoma

SheTrades Nigeria: NEPC urges more WTO, ITC support for women

Rabi'u Sani Ali
Mar, Wed, 2024

Economy/Business

SheTrades Nigeria: NEPC urges more WTO, ITC support for women

197 total views today

By Lucy Ogalue

The Nigerian Export Promotion Council (NEPC), has urged more support from the World Trade organisation (WTO) and the International Trade Centre (ITC), to boost women led export businesses in the country.

The Executive Director/Chief Executive Officer of the Council, Nonye Ayeni said this at the SheTrades Nigeria Hub Interactive Session with the WTO and ITC in Abuja.

The News Agency of Nigeria (NAN) reports that SheTrades Nigeria Hub was initiated in 2016 to deliver tailored capacity building and business generation activities for women in Nigeria.

Ayeni said, “we will also use this opportunity to appeal to WTO and ITC for more support for the interest of the women and interest of Nigeria in general.

“I thank the WTO and indeed ITC team for your support over the years, a lot has been done.

“I appreciate your contributions to the success of NEPC and the success of Nigeria, especially as it relates to export and what you have done specifically for women.

“We have seen women who were not doing anything and suddenly they are able to provide for their families.

“We all know that once you train a women, you have trained a community, you have trained a whole nation. So kudos to all the women, lets leverage on this opportunity and make sure that we do our best’’.

According to Ayeni, the focus of the event is to strengthen further, the partnership between WTO, IiTC and NEPC as the host-implementing agency for the SHE Trade hub.

“Through this collaboration, we are working with the private and public sector and women in export development programme have recorded some successes.

“In terms of provision of better trade, opportunities for women engagement with women to build a support network and access to information and resources for women led Small and Medium enterprises (SMEs).

“Knowledge and experience sharing for successful female exporters to provide guidance and mentorship for upcoming women entrepreneurs among others.

“I am delighted to say that since 2016, the NEPC has registered 29,000 exporters while almost about 8, 000 are women and the numbers are increasing’’.

While reiterating other programmes by the council for women, Ayeni said over 4,000 women had benefited from the SheTrade programme, which was a game changer that would be leveraged on.

Meanwhile, the WTO Director-General, Dr Ngozi Okojo-Iweala, emphasised the importance of trade to economic development of any nation.

“Trade has helped to lift more than one billion people in the world out of poverty.

“A research we have done at the World Trade Organisation shows that women who export earn almost three times more than those who sell domestic goods.

“So being able to export increases your well -being, your living standards, your income, and you can help your family and the nation more.

“And that is why we came to Nigeria to inaugurate a series of programmes that we hope will be beneficial to the country, including our women,’’ she said.

According to Okojo-Iweala, one of the most important things to consider in export is meeting certain standards and quality expectations of a country.

The WTO director-general reiterated the commitment of the organisation in supporting women businesses to achieve standardisation and get certification for their exported products.

Okonjo-Iweala recalled that the organisation recently inaugurated a 50 billion dollar fund programme aimed at helping women trading digitally.

“So many people are trading digitally, e-commerce, what we are trying to do is to use this one to help you add a scale of your business; improve the quality of what you doing.

“So I implore you not to get discouraged because I know you meet all kinds of obstacles along the way,’’ she said.

For her part, the Deputy Executive Director, ITC, Dorathy Tembo, also reiterated the importance of trade.

According to her, no country has been able to develop without substantial trade and Nigeria is not left out.

She expressed willingness of the ITO to continue to partner with Nigeria to ensure standard and certification of their exported agricultural products. (NAN)(www.nannews.ng)

Edited by Ese E. Eniola Williams

6,225 drivers’ licences unclaimed in Delta – FRSC

Rabi'u Sani Ali
Mar, Wed, 2024

Defence/Security

6,225 drivers’ licences unclaimed in Delta – FRSC

262 total views today

By Clara Egbogota

The Federal Road Safety Commission (FRSC) in Delta, says that 6,225 permanent drivers’ licences are yet to be collected in the state.

The Sector Commander, Mr Bassey Eshiet, said this in an interview with the News Agency of Nigeria (NAN) on Wednesday.

He said that as at March 7, the total number of unclaimed drivers licences stood at 6,225, and frowned at motorists who processed their licences and never bother to go back and collect it.

“In spite of the efforts of the staff of the drivers’ licence centre reaching out to the owners through their next of kin, the owners still do not go to pick up their drivers’ licence.

“Some just get comfortable with the temporary drivers’ licence issued to them, while most people don’t just create time out of their busy schedule to pick up their driver’s licence”.

The sector commander said the Corps would soon embarked on a joint operation to check drivers’ licences in Asaba.

“We are intensifying our public awareness drive via motor parks, churches and media houses.

“The Command wants drivers with a temporary licence to collect their permanent driver’s licence at the motor licencing office where they had their biometric captured,” Eshiet said.

He said possessing a valid licence was a requirement to driving in the country, warning that driving without a licence “endangers the lives of road users and constitutes traffic infraction.

“It is a traffic violation to drive on Nigerian roads without an authorised driving permit – driver’s licence,” he said.

Edited by Christiana Fadare

Rabi'u Sani Ali
Mar, Wed, 2024

General News

I’m not afraid of death – Remi Tinubu

228 total views today

By Olaide Ayinde

The First Lady, Mrs Remi Tinubu, has said that she wasn’t afraid of death as she was more than 60 years old now.

She stated this on Tuesday while reacting to Gov. Bala Mohammed’s comment regarding recent threats to her life.

“I want to thank the Bauchi State governor for assuring me that I am safe, but I want to say that I am too old to be afraid.

“If God has granted me more than 60 years on earth, I shouldn’t be afraid of death.

“I thank God that you encouraged me to come and I want to say that Nigeria belongs to all of us. This is the time for us to unite more than ever before,” she said.

First Lady, Remi Tinubu, unveils Community ICT centre and school project on Tuesday in Bauchi

Earlier, Mohammed had condemned the recent threat to the life on the First Lady, and described it as a “national embarrassment”.

“I am particularly disappointed and frustrated that the death threat came from someone from Bauchi State.

“It is a national embarrassment that someone from Bauchi State would threaten the wife of the President.

“I want to apologise to the First Lady over the incident and assure her that the person will not be spared,” he said.

Mohammed pointed out that the President’s wife had distinguished her self “not only as a distinguished Senator, but as a politician that has opened the new frontier of politics and politicking.

“Your renewed hope programme is being genuinely embraced because you have set aside all differences related to politics and partisanship.

“I am aware of some of the challenges and threats to your life and person by somebody from this State. I was so disappointed and frustrated, but you made my day as a courageous mother by deciding to come to Bauchi.

“This distinguished lady has shown that Nigeria is really working and that Nigeria is one and nobody can play politics with our lives.

“We are very grateful; your life is more important to us than our own lives. Nothing will happen to you,” he said.

First Lady, Remi Tinubu, visits Emir of Bauchi, Alhaji Rilwanu Adamu

The Emir of Bauchi, Alhaji Rilwanu Adamu, in a remark, dispelled insinuations that Bauchi was not a peaceful state.

“The First Lady’s visit is a powerful symbol of the peace and progress of Bauchi State,” he declared. (NAN)(www.nannewsngr.con)

Edited by Ephraims Sheyin

Nigeria tasks ECOWAS on resolving issues inhibiting sub-regional trading in palm oil

Philip Daniel Yatai
Mar, Wed, 2024

Foreign

Nigeria tasks ECOWAS on resolving issues inhibiting sub-regional trading in palm oil

210 total views today

By Mark Longyen

Nigeria has called on palm oil producing countries of the Economic Community of West African States (ECOWAS) to work assiduously towards resolving their disagreements, which threaten sub-regional trading in the sector.

Amb. Yakubu Dadu, Head, ECOWAS National Unit, Ministry of Foreign Affairs, made this known at a meeting of the group, “free movement of palm oil under the ECOWAS trade liberalization scheme,” on Tuesday, in Abuja.

Dadu, who noted that the meeting was a platform for conversation with palm oil-producing countries and industry stakeholders, urged them to establish measurable metric thresholds based on their production capacity of the produce.

He, however, added that this should take into account the economic conditions of respective ECOWAS member states.

According to him, in spite of the remarkable success of the ECOWAS Trade Liberalization Scheme (ETLS), which was established in 1979, the West African subregion found itself facing challenges within the “pivotal palm oil sector.”

Dadu said: “The ECOWAS Trade Liberalisation Scheme (ETLS) stands as a cornerstone in the realisation of a West African common market, embracing agricultural, handicraft, and erude products initially, and later extending its reach to include industrial and processed goods.

“In spite of the remarkable success of the ETLS, we find ourselves facing challenges within the pivotal palm oil sector as the cross-border movement of palm oil has encountered origin-related disagreements among member states, posing a threat to the sector’s stability and growth potential.

“Our goal should aim to achieve an environment where innovative solutions can be fashioned for the sustainable growth of the palm oil sector within the ECOWAS region.”

Speaking on the sidelines of the event, Mrs Massandje Toure-Litse, Commissioner for Economic Affairs and Agriculture, ECOWAS Commission, said that one of the challenges in palm oil trading in the region was taxation.

She said that by virtue of the introduction of ETLS, ECOWAS had already eradicated tariffs in business transactions within the region, but some disagreements still existed on the issue in some countries, which should be resolved to facilitate oil palm trading.

“Some products will go to some countries and the countries will ask them to pay tariffs when we know that under ECOWAS law, goods produced in our region should be free of tax.

“We have, therefore, invited all the countries to come and have a discussion to solve the issues in the commercialisation of palm oil in the region.

“The countries invited are Ivory Coast, Togo, Benin, Nigeria, Ghana and Liberia,” Toure-Litse said.

Also speaking, ECOWAS Commission’s Director of Customs, Union, and Taxation, Salifou Tiemtore, said that ECOWAS member states were not producing enough palm oil to meet the demands of the subregion.

“Let me tell you the truth, till now, with the statistics we have, we still need to import palm oil. What we are producing is not enough for our own consumption.

“If you take a country like Nigeria, it has the capacity to double its production in terms of palm oil, but we need to put in place some incentives so that through ECOWAS ETLS Nigeria can cover the Nigerian market and also go beyond the Nigerian market.

“We will delve into discussions on palm oil production capacity in the region, analyse import and export data, identify and understand the challenges faced by the sector under the ETLS, and collectively propose lasting solutions to address these challenges,” he said.

Tiemtore added that the region had the potential to meet the needs of member states if support were given to entrepreneurs to expand production and leveraging the ETLS. (NAN)

Edited by Isaac Aregbesola

AFAN dissociates self from farmers loan application notice

isaac aregbesola
Mar, Wed, 2024

General News

AFAN dissociates self from farmers loan application notice

2,459 total views today

By Patricia Amogu

The All Farmers Association of Nigeria (AFAN), on Tuesday dissociated itself from a notice asking its members to apply for loans and to make certain payments into a commercial bank account.

AFAN, in a statement by its president, Dr Farouk Rabiu-Mudi, said it had nothing to do with the notice and had no such plan at the moment.

“It has come to our notice that some individuals are sending information purported to be from the Federal Ministry of Agriculture and food security to all our members.

“They are asking them to register and apply for loan, requesting them to pay an amount into a WEMA Bank account with support from AFAN.

“We hereby bring to the knowledge and notice of the general public and AFAN members that the association is not aware of any development regarding the issuance of loans to any group or members of any association.

“AFAN, therefore, advises the general public and the members of AFAN to ignore the notice because AFAN does not have a Wema Bank account in the first place,” Rabiu-Mudi, said.

The AFAN president described the notice as a fake one designed by frauds to rob innocent and unsuspecting members of the public of their hard-earned money.

According to him, the fake notice was crafted with the aim of dragging the good name of the association in the mud and to cause disaffection within the group.

“This is fraudulent because our website account has been hacked. So the general public is hereby warned that fraudsters are on the prowl using information about us to defraud them,” the AFAN president said. (NAN) (www.nannews.ng)

PAO/KUA