News Agency of Nigeria
Vietnamese administrative reform will enhance efficiency- Ambassador
Foreign

Vietnamese administrative reform will enhance efficiency- Ambassador

240 total views today

By Sarafina Christopher

Mr Bui Hung, the Vietnamese Ambassador to Nigeria says his country’s administrative reforms will enhance efficiency within the government and reduce redundancy.

The ambassador stated this during an exclusive interview with the News Agency of Nigeria (NAN) on Saturday in Abuja.

He highlighted the Vietnamese government’s strategy aimed at restructuring its administrative tiers, particularly by merging and reorganising administrative units at provincial and commune levels.

According to him, the initiative follows the adoption of Resolution No. 202/2025/QH15, which officially decreased the number of provincial-level administrative units.

He said that the reduction was from 63 to 34, comprising 28 provinces and 6 centrally-administered cities.

“The restructuring process is imperative for streamlining governance and ensuring that resources are utilised effectively,” Hung stated.

He explained that this plan was not only about reducing numbers but focused on creating more efficient administrative functionalities and improving public service delivery.

He added that as part of the reform effort, existing local government structures are being re-evaluated and refined.

“We aim to establish new commune-level Party Committees and appoint key leadership positions that align with the vision of efficient governance,” he noted.

According to the ambassador, this will enable local authorities to respond more effectively to community needs and enhance overall government responsiveness.

He also underscored the importance of these reforms in the context of economic growth and stability in developing countries.

“By eliminating unnecessary layers of bureaucracy, we can minimise delays and streamline processes that have previously hindered effective governance,” he explained.

The ambassador said that the government had taken deliberate measures to address the various impact of these changes on political stability and leadership continuity.

“Our plans have strong public backing, and we are committed to maintaining continuity of services through established local authority structures throughout the transition.

“We believe that these administrative reforms will yield positive outcomes, ultimately benefiting the Vietnamese people through enhanced governance and an improved public,” he said.

He said that the initiative would further foster collaboration with other developing nations facing similar challenges, particularly in Africa.(NAN)(www.nannews.com.ng)

Edited by Ismail Abdulaziz

Katsina partners PEBEC to accelerate business enabling reforms
Economy/Business

Katsina partners PEBEC to accelerate business enabling reforms

228 total views today

By Abbas Bamalli

The Presidential Enabling Business Environment Council (PEBEC) and the Katsina State Government have engaged business leaders to access and accelerate business enabling reforms in the state.

The business leaders and other stakeholders were engaged at the State Action on Business-enabling Reforms (SABER) Technical Session and Statewide Town-Hall Meeting in Katsina.

The News Agency of Nigeria (NAN) reports that the event which brought together key stakeholders from the public and private sectors was organised by PEBEC in collaboration with the state government.

Gov. Dikko Radda, in his remarks, said the event aimed at assessing the state’s performance on business, enabling reforms and strengthening alignment with national economic initiatives.

Radda, represented by his Deputy, Mr Faruk Lawal, reaffirmed his administration’s commitment to tackling bottlenecks and fostering a conducive environment for businesses to thrive in the state.

He added that the state had made significant progress in implementing actionable and revolving business reforms, which had helped to attract investors and promote economic growth and sustainability.

The Governor emphasised that the ease of doing business had become a top priority of the state government and would remain steadfast in achieving the desired goals.

Radda added that the state government had restructured its business framework and created the Katsina Enterprises Development Agency (KASEDA).

According to him, the aim of creating the agency was to support nano, small and medium businesses with resources and tools to grow.

“My administration is creating an enabling environment for business, especially small and medium enterprises, to operate and succeed, and we know the role of the government in creating such an enabling environment for businesses.

“As a government, therefore, we first began our journey by strengthening leadership around the Ease of Doing Business agenda.

“We appointed the Deputy Governor to chair both the Ease of Doing Business and the MSMEs,” Radda said.

In her remarks, the Director-General of PEBEC, Princess Zahrah Audu, explained that the ongoing nationwide sub-national tour was aimed at strengthening state-level ownership of the reform initiatives.

She explained that the PEBEC works closely with state governments to improve the business environment and deepen the implementation of SABER for the sustainability of ease of doing business in the country.

Audu virtually told the  participants that PEBEC was a World Bank-funded project aimed at promoting economic growth and development in Nigeria.

Earlier, the Director-General of the Katsina State Investment Promotion Agency (KIPA), Ibrahim Tukur-Jikamshi, said the meeting was a step towards deepening ease of doing business and economic reforms.

He said that Radda had embraced the SABER reforms framework not just as a compliance requirement, but as a strategic instrument for state transformation and economic inclusion.

He stated that the Radda-led government had waived all Right of Way (RoW) charges for fabric optic development and granted ‘interest-free loans’ to MSMES to simplify business support schemes in the state.

“We have exempted qualifying businesses from selected fees and levies to reduce start-up costs.

“We continued to prioritise transparency and public feedback, with all MDAs now publishing all timelines and costs,” he added.

Tukur-Jikamshi stressed that the government had taken proactive steps in mainstreaming reforms into the fabrics of the state by establishing a high-powered reforms implementation committee to deliver results across all reform sectors. (NAN)

Edited by Abdulfatai Beki/Bashir Rabe Mani

NECA hails Tinubu’s economic reforms 
Economy/Business

NECA hails Tinubu’s economic reforms 

194 total views today

By Joan Nwagwu

The Nigeria Employers Consultative Association (NECA) says President Bola Tinubu’s  reforms in the economic sector align with the desires of the Organised Private Sector(OPS).

Mr Adewale-Smatt Oyerinde, the Director General of NECA said this on Wednesday in Abuja, at the 2025 edition of the Employers Summit, organised by NECA

The News Agency of Nigeria (NAN) reports the summit is themed, “Enabling Sustainable Enterprise in a Transiting Economic: Aligning Fiscal,Trade and Regulatory Reforms for Rapid National Development ”

Oyerinde said the reforms being undertaken by the federal government are in alignment with the desires of employers.

He said the summit was apt in bringing the critical stakeholders together to deliberate and agree on the execution of the reforms.

“NECA believes that there is no better time to get the reformers and those that will implement the reforms as well as those that the reform is supposed to reform to have a conversation and engender consensus around those reforms.

“It will also help us to make policy recommendations to the government on those issues where it pinches the private sector and employers.

“This is the avenue where definite solutions or implementation of palliatives or innovation that might ease the pressure on the private sector can come,” he said.

According to the NECA DG, employers play a major role in promoting national development through job creation, payment of taxes and other contributions to economic growth.

He further said that the summit was unique coming at a time when the government was implementing many reforms, such as the tax reform bills.

Vice President Kashim Shettima emphasised the need to build an economy that is resilient, inclusive, driven by private enterprise and enabled by government.

Shettima, represented by Mr Temitola Johnson, Special Adviser to the President on Job Creation and Small, Medium Micro Enterprises (SMMEs), said the organised private sector has contributed positively to socio-economic development of Nigerians.

He said that the contributions were through the millions of jobs that were created, as well as the goods and services they provide.

Shettima added that the vision of President Bola Tinubu-led administration was to build an economy where sustainable business enterprises thrive and create decent jobs.

“One of the comprehensive reforms being undertaken by the government is that, which prioritises prudent expenditure and a more efficient, transparent and equitable tax system.

“We are a nation in transition, navigating our part of bold reforms designed to stir our economy away from volatility into becoming a more stable, sustainable and prosperous one.

“These reforms, though difficult in the short term, are laying the foundation for a more transparent, competitive, diversified and investor-friendly environment,” he said.(NAN)

Edited by Rotimi Ijikanmi

NTI committed to achieving Tinubu’s Renewed Hope Agenda- Director
Education

NTI committed to achieving Tinubu’s Renewed Hope Agenda- Director

313 total views today

By Moses Kolo

Prof. Sadiya Sani-Daura, Director and Chief Executive of the National Teachers’ Institute (NTI), Kaduna, says it is fully committed to facilitating the achievement of President Bola Tinubu’s Renewed Hope Agenda.

Sani-Daura disclosed in an interview with the News Agency of Nigeria (NAN) in Kaduna as part of the celebration of Tinubu’s two years in office.

According to her, NTI will be diligently playing the critical role expected of it to fully realise the president’s all-important agenda.

She said: “We have a lot to do in achieving the Renewed Hope Agenda and we will never waiver in doing so.

“Instructively, we are now creating the direly needed conducive environment to achieve this noble agenda of Tinubu.”

Sani-Daura further extolled the Federal Government’s commitment to taking Nigeria’s education sector to the next level.

She said that the Federal Ministry of Education was critical to the myriad of successes the institute had achieved.

“Hopefully, NTI will soon bounce back and fully restore its enviable lost past glory.

“We are digitising all our activities so as to be in tune with the current global trends and this is working just as it is bolstering our operations.”

The director, therefore, commended the two Ministers of Education for their uncommon commitment and patriotism, describing them as the key motivators and benefactors of NTI.

Sani-Daura disclosed that the premier institute was partnering with various local and international agencies like the Universal Basic Education Commission (UBEC) and the Teachers’ Registration Council of Nigeria (TRCN).

She listed some of NTI’s global collaborators to include JICA and UNICEF, among numerous others.

The director also stated that the institute was robustly partnering with the various state governments in the country.

“We will never relent in the diligent discharge of our mandate, and will continue to train and retrain teachers, with a view to continuously upgrading their capacities,”  she said.(NAN) (www.nannews.ng)

Edited by Bashir Rabe Mani

FG seeks enhance global support for reforming economies
Foreign

FG seeks enhance global support for reforming economies

226 total views today

By Nana Musa

Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, has called for enhanced global support for reforming economies.

 

Edun made the call at the G-24 Ministerial Meeting held on the sidelines of the ongoing 2025 IMF World Bank Spring Meetings in Washington D.C , on Wednesday.

 

The minister urged IMF and the World Bank to reward reform-minded economies, particularly those in Sub-Saharan Africa, by expanding access to affordable financing and deploying more innovative instruments to support their transitions.

 

Edun also welcomed the IMF’s recent establishment of a third Sub-Saharan Africa chair and urged increased African representation at senior management levels within the Bretton Woods institutions.

 

He said that the country was open for business, adding that the reforms would deliver their full impact.

 

“We need the international community to match our ambition with strong, targeted support.”

 

Edun reiterated President Bola Tinubu’s strong commitment to structural reforms, fuel subsidy removal, foreign exchange unification, and comprehensive tax policy reforms.

 

The minister said that this administration’s focuses on restoring macroeconomic stability and building a more resilient, inclusive economy. (NAN)(www.nannews.ng)

Edited by Ese E. Eniola Williams

FG reforms have improved Nigeria’s macroeconomic outlook – Report
Foreign

FG reforms have improved Nigeria’s macroeconomic outlook – Report

340 total views today

 

By Nana Musa

Mr Jason Wu, Assistant Director for Global Markets, International Monetary Fund (IMF), said that the recent government reforms had improved Nigeria’s macroeconomic outlook.

 

Wu said this at the ongoing IMF/World Bank 2025 Spring Meetings in Washington, D.C. on Tuesday, during the release of the agency’s Global Financial Stability report for April 2205.

 

He said that the reforms had simultaneously lowered Nigeria sovereign credit profile, while adding that the country remained exposed to financial volatility and weakening global risk appetite.

 

“Nigeria’s sovereign spread has widened in recent weeks as global stock markets decline.

 

“For major commodity exporters like Nigeria, if trade tensions continue to dampen global demand, revenue shortfalls are likely.

 

“Authorities must stay vigilant and adopt the right policies to respond,” Wu said.

 

The IMF’s Global Financial Stability Report (GFSR) highlighted Nigeria’s return to the international debt market in late 2024 with its first Eurobond issuance since 2022.

 

This marked a positive shift in investor sentiment toward frontier markets, buoyed by macroeconomic reforms and improved credit ratings.

 

He quoted the report, saying “Sovereign eurobond spreads for frontier economies narrowed in 2024 and early 2025, helped by fiscal reforms, progress in debt restructuring, and foreign exchange policy adjustments.”

 

Examples cited include debt restructuring in Ethiopia and Ghana, and Nigeria’s forex market reforms.

 

“Frontier economies were able to issue foreign currency debt at relatively modest yields,” the report noted.

 

It added that the total issuance in first quarter of 2025 was roughly half of the total for 2024.

 

The report said, “Nigeria returned to the eurobond market in late 2024 for the first time since 2022, while Egypt re-entered in January 2025.”

 

It also revealed that Angola secured foreign currency financing through a total return swap with an international bank, while Côte d’Ivoire accounted for the largest eurobond issuance in Africa during first quarter.

 

Regionally, economic growth in Sub-Saharan Africa is also projected to ease slightly to 3.8 per cent in 2025, before rebounding to 4.2 per cent in 2026.

 

The nation’s growth, however, is expected to remain below the regional average.

 

“For Sub-Saharan Africa, growth is projected to decline from 4.0 per cent in 2024 to 3.8 per cent in 2025, before modestly recovering to 4.2 per cent in 2026.

 

“Among major economies, Nigeria’s forecast was downgraded by 0.2 percentage points for 2025 and 0.3 for 2026, due to falling oil prices.

 

“South Africa saw a 0.5-point downgrade for 2025 and 0.3 for 2026, citing weak 2024 performance and deteriorating sentiment,” the report said.

 

Also, South Sudan recorded the sharpest downgrade, with its 2025 forecast slashed by 31.5 percentage points due to delays in restarting oil production through a damaged pipeline.

 

On a positive note, Nigeria’s current account balance is expected to remain in surplus, however, declinin from 9.1 per cent of GDP in 2024 to 6.9 per cent in 2025, and 5.2 per cent in 2026.

 

This surplus could offer a degree of protection against external economic shocks. (NAN)

Edited by Olawunmi Ashafa

Tinubu trades off political risks for Nigeria’s economic reforms- IMPI
Economy/Business

Tinubu trades off political risks for Nigeria’s economic reforms- IMPI

410 total views today

 

By Ginika Okoye

The Independent Media and Policy Initiative (IMPI), a policy think-tank, has lauded President Bola Tinubu’s economic reforms in spite of diverse opposition.

 

A statement by the group’s Chairman, Dr Omoniyi Akinsiju, in Abuja on Wednesday, said that the risk assessment of the Tinubu’s reforms done by it showed the president deserved credit for his achievements.

 

Akinsiju said Tinubu deserved credit for going ahead with his economic policies in spite of the possibility of the opposition capitalising on the attendant short-term pains to drive its agenda.

 

”In spite these challenges, we commend President Tinubu for his steadfast commitment to advancing economic reforms amid substantial opposition over the past 22 months.

 

“The administration has demonstrated a dedication to its reform agenda in spite of the lack of immediate incentives for engaging in long-term change which is characteristic of developing nations.

 

”This requires significant statesmanship and leadership to navigate uncharted territories,” the chairman said.

 

He noted that only national interest would make an administration go ahead with reforms that were risky enough to lead to electoral loss.

 

The chairman said Tinubu had shown exceptional perseverance, driven by a forward-looking vision for Nigeria’s economy, prioritising national interest over personal or electoral gains.

 

“This commitment is particularly notable considering the conventional approach of starting reforms with minor and more manageable steps to build success stories and political support,” he said.

 

This, he said, had been exemplified in Nigeria’s total trade exports which surged to 50.4 billion dollars in 2024.

 

He said the surge was driven by exchange rate depreciation due to the harmonisation of foreign exchange windows and the elimination of fuel subsidies, the two flagship foundational policies of the reform agenda.

 

“Data from the National Bureau of Statistics (NBS) shows that Nigeria recorded a total trade volume of N138 trillion, the highest in the country’s history, representing a 106 per cent increase compared to the previous year.

 

“This translates to 89.9 billion dollars, indicating a 22.1 per cent surge in 2024 when dollarised,” he said.

 

Akinsiju said that foreign investment inflow into the country in 2024 revealed that Nigeria received about 21 billion dollars’ worth of foreign investment, with only the Nigeria National Petroleum Corporation Limited (NNPCL) attracting 17 billion dollars

 

The chairman said the total Federal Account Allocation Committee (FAAC) allocations increased to N15.26 trillion in 2024 which represented 43 per cent increase from the previous year.

 

He said the surge could be attributed to Tinubu-led administration’s fiscal reforms, including fuel subsidies removal and exchange rate adjustments, significantly boosting oil revenue remittances.

 

Akinsiju, however, expressed concern that in spite of falling food prices in recent months, the agriculture sector had continued the trend of distorted growth in the last five years.

 

He said the agriculture sector had slumped from 3.42 per cent in 2020 to 1.74 per cent in 2024.

 

The chairman expressed optimism that recapitalisation of the Bank of Agriculture (BOA) and the recently sealed Green Imperative Project (GIP) deal with Brazil, targeting small scale farmers across the 774 local government areas would help boost growth in the sector. (NAN) (www.nannews.ng)

Edited by Ifeyinwa Okonkwo/Ese E. Eniola Williams

Our reforms will protect interests of future generations – Tinubu
Economy/Business

Our reforms will protect interests of future generations – Tinubu

363 total views today

Generation

By Salif Atojoko

President Bola Tinubu says the rationale behind his administration’s economic reforms is to protect the interests of future generations.

“For 50 years, Nigeria was spending money of generations yet unborn and servicing the West Coast of our subregion with fuel. It was getting difficult to plan for our children’s future,” he said.

He made these remarks at the State House while receiving a delegation of former National Assembly colleagues from the aborted Third Republic, during which he served as a Senator representing Lagos West.

The President highlighted the challenges faced at the beginning of his administration, especially economic and social issues, and expressed his gratitude for the delegation’s support in addressing these difficulties.

“We faced serious headwinds when I took over, very challenging times. Nigeria would have been bankrupt if we had not taken the actions that we took, and we had to prevent the economy’s collapse,” he said.

President Tinubu declared that the administration had been able to stem the tide and expressed appreciation to Nigerians for their collective support in turning things around.

“Today, we are sitting pretty on a good foundation. We have reversed the problem; the exchange rate is stabilising.

“Food prices are coming down, especially during Ramadan. We will have light at the end of the tunnel,” said the President.

He said firm adherence to democratic tenets was the best route to economic, social, and political development.

“I am happy that you are holding to your belief in democracy. I thank you for keeping faith and remembering how we started. Some people missed the ball.

“Some leadership failed, but we kept the faith with our democratic beliefs and freedom and the right to aspire to the highest office in the land. I am benefitting from it,” Tinubu stated.

Sen. Emmanuel Nwaka, who spoke on behalf of the group, expressed his delight at some of the programmes that the Tinubu administration had implemented, especially the Nigerian Education Loan Fund (NELFUND) and the Nigerian Consumer Credit Corporation (CREDICORP).

“I appreciate you for what you are giving to students because the student population is the largest demographic in the country. I’ve spoken with many of them, and many have benefited from it.

“And the next one is the CREDICORP. That’s a major way of fighting corruption.

“You see a young man, you come out of school, you want to buy a car, you have to put down cash, you want to buy a house, and you are not married, but with the CREDICORP, you can get things done.

“I’m following their activities; we are delighted,” he said.

Other members of the delegation were Sen. Bako Aufara Musa, Hon. Terwase Orbunde, Hon. Wasiu Logun, Hon. Amina Aliyu, High Chief Obi Anoliefo and Hon. Eze Nwauwa. (NAN) (www.nannews.ng)

Edited by Vivian Ihechu

Shettima calls for unity to sustain Tinubu’s reform
General News

Shettima calls for unity to sustain Tinubu’s reform

392 total views today

Unity

By Salisu Sani-Idris

Vice-President Kashim Shettima, has called for unity and collaboration among leaders to sustain the gains  of President Bola Tinubu’s reforms.

Shettima made the call during an Iftar hosted by President Tinubu for Senate leaders at the new State House Banquet Hall in Abuja.

Shettima emphasised that Nigeria had reached a crucial point where Tinubu’s bold leadership and well-thought-out policies must be properly executed to create lasting change.

He noted that Nigerians were beginning to see the benefits of these reforms, such as falling food prices, lower petrol costs, and stability in the forex market.

He also highlighted the economy’s projected growth of 4.3 to 4.6 per cent in 2025, commending Tinubu’s “bold vision” and courageous decisions.

Shettima urged political leaders to collaborate in maintaining this momentum, stating that unity was essential for the nation’s progress.

He expressed gratitude to the Senate for its cooperative relationship with the executive branch and urged lawmakers to see themselves as one family, regardless of political affiliation.

“What unites us supersedes whatever divides us,” he said, assuring of continued collaboration between the two arms of government.

Senate President Godswill Akpabio thanked President Tinubu for his support of the 10th Senate and pledged continued cooperation.

He prayed for divine wisdom and good health for both the President and Vice- President, to ensure the success of the Renewed Hope Agenda.

The event was attended by key senators, including Deputy Senate President Barau Jibrin, Senate Leader Opeyemi Bamidele, and former Senate President Ahmed Lawan.(NAN)

Edited by Abiemwense Moru

Production: Prioritise reforms to enhance infrastructure — Expert
Economy/Business

Production: Prioritise reforms to enhance infrastructure — Expert

389 total views today

By Okeoghene Akubuike

There is a need for the Federal Government to prioritise reforms that enhance infrastructure, financing, security, and ease of doing business to make Nigeria’s economy more conducive for production.

Mr Benjamin Ekeyi, a Public Finance Management Expert said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Friday.

Ekeyi, who is also an expert on governance, said the Federal Government should improve infrastructure by investing in stable electricity generation and distribution to reduce reliance on expensive diesel and generators.

According to him, the government should also enhance transportation networks, including roads, rail systems, and ports, to reduce production costs.

Ekeyi said that there was also need for the Federal Government to expand broadband access and ensure affordable internet for businesses to enhance efficiency and market access.

To enhance security for businesses, he said the government must tackle challenges like banditry, kidnappings, and oil theft to protect investments in agriculture, manufacturing, and mining.

“There is a need to stabilise macroeconomic policies by reducing inflation, ensuring stable exchange rates and ensuring effective monetary policies.

“The Federal Government should provide clear fiscal policies that encourage production rather than excessive taxation or policy uncertainty.”

On improving access to finance, Ekeyi said the Federal Government should give low-interest loans and grants for businesses, particularly Small and Medium Scale Enterprises (SMEs) and manufacturers, through structured government-backed financing schemes.

He added that the government should strengthen development finance institutions like the Bank of Industry (BOI), Development Bank, and NEXIM Bank, among others, to support producers.

Ekeyi emphasised the need to enhance local production and industrialisation by implementing import-substitution strategies that support local manufacturing, thereby reducing dependence on foreign goods.

According to him, the government should offer tax incentives and reduce bureaucracy for businesses producing locally.

“Encourage value addition in sectors like agriculture, mining, and oil and gas rather than exporting raw materials.”

Ekeyi suggested that the government strengthens agricultural productivity by providing modern equipment, improved seedlings, and mechanisation incentives, while also developing storage and distribution networks to reduce post-harvest losses.

“There should be support for agro-industrial zones where farmers can process and add value to their produce.”

The expert said the Federal Government should revamp the oil and gas sector by fully operationalising local refineries, including the Dangote and NNPC refineries, to stop excessive fuel imports.

“Strengthen the Petroleum Industry Act (PIA) to attract more investment into oil exploration, refining and gas utilisation.”

On improving the ease of doing business, he said the government should reduce bureaucratic bottlenecks in business registration, taxation and compliance.

“Regulatory processes should be digitised to cut corruption and delays in business operations, and implement one-stop business hubs to simplify permits and approvals for industries.”

Ekeyi urged the government to boost funding for research and development in universities, polytechnics, and private firms.

He emphasised the importance of supporting the tech and startup ecosystem to enhance innovation and job creation, as well as promoting local content policies that encourage businesses to source inputs locally.

“A pro-business economic environment requires a holistic approach that tackles infrastructure deficits, insecurity, financing barriers, and regulatory inefficiencies.

“By addressing these challenges, the government can stimulate production, create jobs, attract investments, and boost economic growth sustainably,” he said. (NAN) (www.nannews.ng)

Edited by Ese E. Eniola Williams

X
Welcome to NAN
Need help? Choose an option below and let me be your assistant.
Email SubscriptionSite SearchSend Us Email