NEWS AGENCY OF NIGERIA

Nigeria committed to balancing trade, strengthening local industry – Minister

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By Lucy Ogalue

The Minister of State for Industry, Trade, and Investment, Sen. John Enoh, says the Federal Government is committed to balancing trade through policies that support local production while managing imports.

Enoh stated this while speaking on the nation’s trade strategy, at the 2025 Renewed Hope Global Virtual Town Hall Conference.

The minister emphasised the importance of evaluating the country’s balance of trade , whether in surplus or deficit when formulating economic policies.

He noted concerns that Nigeria remained an import-dependent economy and reiterated the need to expand and deepen the country’s productive capacity to drive exports and reduce reliance on foreign goods.

“The real issue is not just the volume of imports but the fact that we are not producing enough.

“We must expand local manufacturing and strengthen our industries to stay competitive in the global market,” he said.

Enoh said that the government had been deliberate in encouraging local productivity through various incentives, including import duty exemptions for manufacturers and industrialists.

“Since assuming office, I have approved countless import duty exemption certificates to industries to support local production.

“There are programmes such as backward integration policies aimed at boosting local capacity in key industries, including manufacturing and agriculture ” he said.

Eno reaffirmed the administration’s commitment to ensuring that Nigeria remained competitive in global trade.

He said that at the end of each fiscal period, the government assessed the country’s trade balance to determine policy directions.

He assured stakeholders that the government would continue implementing measures to create an enabling environment for industries and improve Nigeria’s export potential.(NAN)

Edited by Kadiri Abdulrahman

FG reaffirms commitment to Nigeria’s industrial transformation, economic growth

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By Lucy Ogalue

The Federal Government has reaffirmed its commitment to driving industrial transformation for a prosperous Nigeria, with policies focused on accelerating industrialisation, boosting manufacturing, and leveraging digital technology.

Sen. John Enoh, Minister of State for Industry, said this while speaking on the Federal Government’s economic agenda, at the Renewed Hope Global Virtual Town Hall Conference 2025.

Enoh emphasised the Renewed Hope Administration’s eight-point agenda, particularly the seventh pillar, which prioritised industrial growth through a digital economy, manufacturing, and innovative technology.

According to the minister, the administration has established targeted funding mechanisms to support key industries, such as the N50 billion in grants for small-scale entrepreneurs.

He said that there was N75 billion for Micro, Small, and Medium Enterprises (MSMEs), which accounted for nearly 40 million businesses in Nigeria.

“There is another N75 billion for manufacturing to boost local production.

“These funds, administered by the Bank of Industry (BOI), aim to foster growth in spite of economic challenges such as high interest rates and production costs,” he said.

The minister also highlighted existing policies designed to stimulate industrial development.

” These include the Backward Integration Programme (BIP) to enhance local capacity in sectors like sugar production and the National Automotive Design and Development Council (NADDC) Policy, aimed at local vehicle assembly.

“There is also the Cotton, Textile, and Garment (CTG) Policy, targeting textile industry revival among others,” he said.

In spite of these policies, Enoh said that past challenges had hindered effective implementation.

He said the President Bola Tinubu’s administration was committed to actualising these policies, ensuring that Nigeria remained globally competitive in industry, technology, and innovation.

“We can not continue to rely on exporting raw materials. We must invest in processing and manufacturing to create jobs, boost value addition, and attract foreign direct investments,” he said.

The minister assured Nigerians that the administration was working diligently to ensure that economic policies translated into measurable progress, positioning the country for sustained industrial growth and economic transformation.(NAN)

Edited by Kadiri Abdulrahman

We Don’t Need Sanusi’s Stamp of Approval For Our Laudable Policies- Minister 

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By Mohammed Idris Malagi

The Federal Government notes the recent remarks by His Highness, Emir Muhammadu Sanusi II, regarding the economic reforms introduced under President Bola Ahmed Tinubu’s administration, at a public event in Lagos.

 

We note the emir’s acknowledgement of the noble initiatives which, he said, he could explain away but for his decision “not to help the government”.

 

First, we acknowledge that Sanusi, and indeed any Nigerian, has the inalienable right to express opinion either in form of commendation or criticism on how the government is being ran.

 

However, we find it amusing that a leader, more so one from an institution that ennobles forthrightness, fairness, and justice would publicly admit to shuffling off saying the truth because of personal interest hinged on imaginary antagonism.

 

It is pertinent to state that Nigeria is at a pivotal juncture where bold and decisive actions are necessary to tackle entrenched economic challenges.

 

This administration has implemented transformative reforms not because they are easy, but because they are essential for securing Nigeria’s long-term stability and growth, as Emir Sanusi had consistently advocated.

 

The temporary pains currently experienced from these inevitable decisions, as Sanusi himself acknowledged, are “necessary consequence of decades of irresponsible economic management” more than anything else.

 

These reforms are already delivering measurable progress. The unification of exchange rates has bolstered investor confidence, which has contributed to increased foreign reserves and strengthened Nigeria’s ability to shield itself from external economic shocks.

 

The removal of the fuel subsidy has freed up significant resources, allowing for greater investment in critical sectors such as infrastructure, education, and healthcare.

 

Projections from respected institutions, including the World Bank, show an upward trajectory in Nigeria’s GDP, signaling that our economy is firmly on the path to recovery.

 

Additionally, by addressing inefficiencies, the country has reduced its debt service-to-revenue ratio, creating a more sustainable fiscal framework for future generations.

 

It is deeply disappointing that reforms widely recognized as essential by global experts—including by Emir Sanusi II himself—are now being subtly condemned by him because of shift in loyalty.

 

His Highness, given his background in economics, has a unique responsibility to contribute constructively rather than undermine reforms aimed at collective progress because he feel estranged from his “friends” in government.

 

We urge the Emir to rise above personal interests and partisan undertones and prioritize the greater good of Nigerians.

 

Rebuilding Nigeria requires unity, focus, and sacrifice from all stakeholders. As a government, we urge esteemed leaders to refrain from rhetorics that undermine public trust.

 

Instead they owe it a duty to champion the collective goal of a prosperous Nigeria. This is a critical time for our country, what is needed is collaboration, not unnecessary distractions.

 

President Bola Ahmed Tinubu’s administration remains resolute in its mission to lead Nigeria towards economic inclusivity, sustainability, and shared prosperity.

 

The challenges we face demand courage and collective effort, not divisive narratives.

 

This administration is open to constructive dialogue with all well-meaning stakeholders, while remaining steadfast in putting the interests of Nigerians above all else.

 

Let history record this moment as a turning point—when leaders and citizens alike choose to prioritize the nation’s destiny over personal gain.

 

Together, we will deliver on the promise of renewed hope and a better Nigeria for all.

 

Mohammed Idris, fnipr

Honourable Minister of Information and National Orientation

 

FG’s policies, reforms will impact populace in 2025 – ICSAN

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By Rukayat Moisemhe

The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) says the populace will begin to feel the impact of the Federal Government’s different sectoral reforms to boost and revamp the economy in 2025.

ICSAN president, Mrs Funmi Ekundayo, made the assertion at the institute’s media parley on Thursday in Lagos.

Ekundayo stated that the different sectoral reforms which required gestational period would begin to gain a lot of traction in 2025.

She urged citizens to continue to be resilient for a positive horizon and a more prosperous Nigeria where the different reforms would have taken shape.

“Government has been doing a whole lot with regards to reforms but the room that is largest in this world is the room for improvement.

“We must improve the narrative as regards the country’s macroeconomic indicators and government must address inflation figures and continue with the right reforms in place to stabilise the economy.

“In a bid to diversify away from oil export, government must do better in the area of mechanised agriculture and provide the necessary support such as power and other essential infrastructure for Micro, Small and Medium Enterprises (MSME) and manufacturing.

“We must develop the country’s human capital, spur innovation and ensure productivity is on the high side to create new economic growth opportunities,” she said.

The ICSAN president also urged government to address the cost of governance, ensuring it is at the barest minimum, to encourage the citizens to make the sacrifices required of them.

She added that government must expend more efforts to encourage digitalisation, while engendering policy sustainability.

“There is no environment with higher yields than Nigeria, but policy summersaults have been observed to affect investors interests.

“If we have a sustainable policy regime, investors will troop in and the economy will flourish better,” she said.

Addressing the new minimum wage increment, Ekundayo said the development was expected to significantly improve the purchasing power of Nigerians, particularly civil servants.

She noted that while the increment would help improve quality of life, standard of living, boost economic growth and increase productivity, it had the potential to inflate the economy.

Speaking on the institute’s achievements in the last one year, the ICSAN president said the institute had been able to record some remarkable milestones, forging partnership with various stakeholders.

She added that ICSAN had increased its penetration into the public sector to further entrench good public governance in the sector.

“We also unveiled our master’s in governance programme, signed several Memorandums of Understanding, got over 300 new members, collaborated with several state governments and began our penetration in the northern part of the country,” she said.

Ekundayo revealed that the institute’s old secretariat had been demolished, the award of contract signed off and work would soon begin.

She called for support in achieving the projected ICSAN tower, while the institute continued to partner with relevant stakeholders, provide value to members and make its contributions to national development.

She lauded the media for its worthy partnership in propagating the ethos of good corporate governance and pledged that the relationship would be deepened in the coming years. (NAN)(www.nannews.ng)

Edited by Oluwole Sogunle

Stakeholders urge FG to prioritise girl-child education policies

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By Justina Auta

Education stakeholders have called for the implementation of policies to achieve the Sustainable Development Goals (SDGs), promote girl-child education, and reduce Sexual and Gender-Based Violence (SGBV) cases.

The stakeholders made the call on Thursday at the 2024 Girls Education Summit (GES’24), organised by the Girls Education Access Initiative (GEAI) and the Network of Youths for Sustainable Development Goals (NGYouthSDGs) in Abuja.

Mrs Kemi Gbadamosi-Braimah, Founder of GEAI, highlighted the alarming figure of over 10 million out-of-school children in Nigeria, with girls and young women accounting for more than 60 per cent of the total.

“Nigeria faces a crisis of uneducated girls. If unaddressed, this will lead to a generation of women lacking literacy. Educating girls with at least 12 years of quality education can bring trillions in development gains,” she said.

Gbadamosi-Braimah stressed the need for collective implementation and strengthening of policies and practices to address this challenge.

She also called on community leaders, NGOs, and stakeholders to champion girls’ rights and education policies.

She noted that GEAI has empowered over 200 young girls and women through improved access to education, skills training, and community mobilisation on girls’ rights.

James O’Donoghue, First Secretary for Development Diplomacy and Education at the British High Commission, reiterated the UK’s commitment to supporting Nigeria’s education sector.

He described girls’ education as a transformative investment that boosts economic and social development, alleviates generational poverty, and contributes to national GDP growth.

“It also reduces child marriage and maternal mortality rates,” he added.

Mrs Christina Uzo-Okamgba, Founder of the Tabitha Empowerment Centre (TEC), identified child marriage, harmful cultural practices, patriarchal norms, and sexual violence as key barriers to girls’ education.

“These vices deprive girls of their right to education and limit their potential to contribute meaningfully to their communities and national development,” she said,

She also urged stakeholders to ensure inclusive education for vulnerable children, especially survivors of GBV.

Speaking on behalf of traditional leaders, Alhaji Yunusa Bako-Abdullahi, District Head of Karonmajiji community in Abuja, appreciated the organisations for their role in promoting girl-child education.

He was represented by Alhaji Mohammed Gidado.

The summit also featured panel discussions on bridging policy and practice in girls’ education and addressing barriers to education with strategic recommendations.

Students from Junior Secondary School (JSS) and Local Education Authority (LEA), Kpegi, shared how GEAI projects in their community had motivated them to return to school and complete their education. (NAN) www.nannews.ng

Edited by Kadiri Abdulrahman

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