News Agency of Nigeria
Wike taking governance closer to FCT residents – Tinubu
Metro

Wike taking governance closer to FCT residents – Tinubu

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By Philip Yatai

President Bola Tinubu says the leadership quality of the Minister of Federal Capital Territory (FCT), Nyesom Wike, is taking governance closer to the residents of the territory.

Tinubu stated this in Abuja on Monday while inaugurating the newly-constructed access roads in Giri district, executed by the Wike-led FCT Administration.

The News Agency of Nigeria (NAN) reports that the project was the13th so far inaugurated, out of the 17 outlined for inauguration to celebrate Tinubu’s second year in office.

Represented by the Speaker of the House of Representatives, Abbas Tajudeen, the president said that Wike’s work speaks for itself in every corner of the FCT.

“From the vast-spaced districts of Maitama, Jahi, Katampe, Wuye, Mabushi and the likes, to the towns of Gwagwalada, Kwali, Bwari and Abaji, and the growing communities of Kabusa, Ketti and now Giri district, your leadership has brought progress closer to the people.

“You have not only embraced the visions of my administration’s “Renewed Hope Agenda”, you have localised it, made it meaningful and made it real.

“Your actions have brought quality and excellence to the dual states of communities long laid in the shadows.

“Honourable minister, on behalf of myself, my administration and the good people of the FCT, I say thank you for reminding us that good governance is not about fanfare, but about footsteps,” he said.

Tinubu said that the newly-constructed access roads were not just infrastructural achievements, but a statement of intention to open up Giri district and the FCT.

To the residents of Giri, Tinubu said: “May these roads lead you to greater opportunities; may they carry your children to school, farmers to markets, families to healthcare and dreams to reality.”

In his remarks, Wike said that the district houses University of Abuja, Economic and Financial Crimes Commission (EFCC) Academy and other institutions.

He said that EFCC would be the first beneficiary of the access road, as it would encourage it to commence construction of its academy.

“Most of the problem we’re having here is that sometimes, when you allocate land, there are no facilities, no infrastructure, and people are not encouraged to develop the allocated land.

“So, we will do everything we can to see that basic infrastructure is provided in Giri to become an important district that will attract so many investors,” he said.

The minister further stated that efforts had begun to construct the critical road network in the district.

He said that he had already asked the acting Executive Secretary of Federal Capital Development Authority (FCDA), Mr Richard Dauda, and other experts to begin working on the details.

Wike added that the road network would help to stop land grabbing by University of Abuja, adding that the university had grabbed 11,000 hectares without authorisation.

“So, I have told the director of land and other relevant agencies to carve out 4,000 hectares and give it to the university.

“The other ones would be reallocated because we are going to provide the roads here, and that is the true situation,” he said.

On her part, the FCT Minister of State, Dr Mariya Mahmoud, described the project as yet another shining example of the Tinubu-led administration’s commitment to infrastructure development, connectivity and inclusive growth.

According to Mahmoud, the Giri road is part of a broader initiative to open up under-served communities and stimulate economic activities within the area councils.

Earlier, Dauda said that the project was awarded in November 2024 to provide access roads to the district, planned to be an institutional area.

He stated that the proposed main sewage treatment plant for the city at Giri was also located within the district. (NAN)

Edited by ‘Wale Sadeeq

ICAN hails Tinubu, says new tax law ‘ll impact livelihood
Economy/Business

ICAN hails Tinubu, says new tax law ‘ll impact livelihood

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By Jacinta Nwachukwu

The Institute of Chartered Accountants of Nigeria, (ICAN), has commended President Bola Tinubu for signing into law four tax reform bills on key areas of Nigeria’s fiscal and revenue framework.

Malam Haruna Yahaya, the 61st President of the institute gave the commendation at the investiture of Sani Danbaba as the 5th Chairman, Gwagwalada and District Society of ICAN in Gwagwalada town, Federal Capital Territory

The News Agency of Nigeria (NAN reports the event also witnessed the inauguration of the Executive Committee for the district .

Yahaya commended the President for the novel holistic review of the tax laws of the country, adding that the new law will be of particular benefits to low income earners.

The ICAN President, who was represented by Matthias Dafur, a Council member of the institute, said the new law will address tax burdens which had been in existence for over five decades.

NAN recalls the President assented the four tax reform bills at a ceremony held at the Aso Rock Presidential Villa, Abuja on Thursday.

The four bills include: the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill.

They were passed by the National Assembly after months of consultations with various interest groups and stakeholders.

Speaking on the investiture and the Exco inauguration, Yahaya advised the members to work as a team to take the district to a greater heights.
“They are assuming a task that is not easy. But they are capable and they are all well tested and I believe they are going to do well,” he said

On his part, the new chairman of the district, equally commended Tinubu on the new tax law, noting that it has captured all the major tax components into one legislation.

He said the new development would assist agencies and companies to grow.

On his area of focus, he said the new team would dwell mainly on the micro, medium and small sector entrepreneurs around their locality to see how they could add value to their operations.

He explained that 60 per cent of the economic activities going on in Nigeria were being done by the micro, small and medium sector enterprises.

Also speaking, the ICAN outgone district chairman, Sosanwo Akinwunmi congratulated the new team and urged the members to consolidate on the achievements recorded so far. (NAN)

Edited by Rotimi Ijikanmi

Tinubu hails Afreximbank’s impact on Africa
Economy/Business

Tinubu hails Afreximbank’s impact on Africa

179 total views today

Impact

By Vivian Ihechu

President Bola Tinubu has praised the African Export-Import Bank (Afreximbank) for its vital role in driving economic development and integration across the African continent.

He particularly commended the bank’s “audacious leadership” and its “generational impacts” on Africa’s economic future.

Speaking at the 32nd Afreximbank Annual Meetings 2025 (AAM2025) in Abuja, Tinubu applauded the bank’s achievements and Nigeria’s commitment to strategic partnerships.

He praised Afreximbank’s growth under Professor Benedict Oramah, describing its expansion as impressive and impactful.

“Afreximbank under Oramah’s enhanced leadership has grown its assets to over $27 billion within a commendable timeframe,” Tinubu noted.

He said the bank had championed Africa’s pandemic response, industrialisation, free trade, and the creative economy over the past decade.

Tinubu highlighted the bank’s founding 33 years ago as Africa’s decision to take control of its development destiny.

“Today, with over $250 billion in trade and development, including $150 billion in the past decade, the bank is a pillar of African growth,” he stated.

He said Nigeria, as Africa’s most populous nation, had greatly benefited from the bank’s wide-ranging support.

“Nigeria has proudly received over $52 billion in support for energy, agriculture, infrastructure, healthcare, manufacturing, and the creative sector,” he said.

Flagship projects cited include Dangote Refineries, the African Medical Centre of Excellence, and the African Quality Assurance Centre.

“These projects reflect confidence in Nigeria’s future and in Africa’s broader potential,” the President declared.

Tinubu also applauded the collaboration that saw Nigeria formally approve the African Payment and Settlement System (PAPSS).

“Thank you for that,” he said, stressing that PAPSS enabled cross-border trade in local currencies and supported economic stability.

He urged other African nations to embrace PAPSS, calling it a tool for financial integration and collective resilience.

The News Agency of Nigeria reports that Tinubu conferred the GCFR honour on Professor Oramah after the speech.

He spoke of reforms under his ‘Renewed Hope Agenda’ introduced since May 2023, including removing the fuel subsidy.

Another reform was the unification of Nigeria’s exchange rate system to correct systemic distortions.

“These reforms, though difficult, were essential for correcting long-standing imbalances,” he emphasised.

He outlined positive outcomes from the reforms, saying they lay the foundation for future growth.

“In 2024, Nigeria recorded 3 per cent GDP growth with broad sector contributions,” he stated.

Oil production rose to 1.5 million barrels, with a 2.5 million target in sight, backed by strategic investments.

“Inflation is easing, data is stabilising, and investor confidence is returning,” Tinubu added.

He stressed that reforms must also be measured by their human impact, not numbers alone.

“True transformation lies in empowered citizens and thriving businesses,” he said.

He highlighted social investment areas, including student loans and upgrades to 8,800 primary health centres.

“These upgrades focus on maternity care and diagnostics, especially in underserved communities,” he explained.

Tinubu also cited digital inclusion initiatives, such as deploying thousands of fibre-optic cables to bridge connectivity gaps.

He noted that infrastructure progress includes the completion of 279 roads, with more ongoing.

He said Nigeria’s collaboration with Africa is growing in scale and ambition, reflecting shared development goals.

He highlighted the launch of the African Energy Bank in Abuja with $5 million initial capital.

This bank aims to finance Africa’s energy transition using gas, renewables, and clean technologies.

Tinubu said Nigeria’s fertiliser sector is expanding to 7.5 million tonnes annually to secure Africa’s food needs.

He urged African countries to build stronger institutions and capabilities amid global fragmentation and rising protectionism.

He said Afreximbank must remain bold, adaptable, and grounded in African realities to succeed.

“This is a time to reflect on our resilience and boldly commit to Africa’s future,” he said. (NAN) (www.nannews.ng)

Edited by Kamal Tayo Oropo

Kabusa-Ketti Road: Tinubu reaffirms commitment to opening up FCT rural economies 
Metro

Kabusa-Ketti Road: Tinubu reaffirms commitment to opening up FCT rural economies 

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By Philip Yatai

President Bola Tinubu has reiterated his administration’s commitment to open up economies of rural communities in the Federal Capital Territory through construction of more rural roads.

Tinubu made the commitment in Abuja on Friday, while inaugurating the newly constructed 10-kilometre Kabusa-Ketti Road in Abuja Municipal Area Council, to celebrate his second year in office.

The News Agency of Nigeria (NAN) reports that seven communities were connected by the stretch of the road, which began from Kabusa and terminated at Ketti.

Represented by the Speaker of the House of Representatives, Dr Tajudeen Abbas, the president added that his administration was committed to bringing tangible change in rural areas across the country.

He said that the 10km Kabusa-Ketti Road may appear modest in the eyes of some, but for the people of the area and the surrounding communities, “it is transformational”.

“This vital infrastructure connects communities of large economic potential and affirms our administration’s commitment to equitable developments across every corner of our nation.

“This road not only eases mobility; it enhances trade; it improves access to schools and healthcare, and it ensures that rural and peri-urban communities are not left behind in the march towards progress.

“This project aligns fairly with the “Renewal Hope Agenda” of my administration, which places people at the centre of governance.

“We believe that good governance is not theory; it is action reflected in the daily lives of the people.

“Our government remains steadfast in its resolve to deliver on critical infrastructure: roads, schools, hospitals, power and digital access, not only in city centres but also in the smaller communities that form the backbone of our nation,” he said.

Tinubu assured rural communities in FCT and across the country of more life-impacting projects to come.

He commended the Minister of the FCT, Mr Nyesom Wike for a job well done, and for delivering the project to the satisfaction of the people.

Eelier, Wike said that the project was awarded to a local contractor who began the execution of the project in December 2024.

He commended the contractor for completing the project on time and thanked community leaders and the youths in Ketti for supporting the contractor to deliver the project in record time.

“The importance of the road is why you see the community members coming out in their numbers to celebrate and that is what the government owes to the people.

“When government does its work, you will see the reflection in the faces of the people. I am sure this is the first time the people of Ketti are getting government attention,” he said.

NAN reports that shortly after the project inauguration, Wike visited Wassa District to inspect the permanent site allocated for the relocation of Apo Mechanics’ traders and dealers.

The visit, according to the minister, is to see the site to be able to determine the kinds of infrastructure to be put in place to facilitate the relocation of the traders and dealers from the Outer Southern Expressway corridor. (NAN)

Edited by Muhammad Lawal

Tinubu int. conference centre fully booked till 2027 – Wike
Metro

Tinubu int. conference centre fully booked till 2027 – Wike

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By Philip Yatai

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, says the recently rehabilitated Bola Ahmed Tinubu International Conference Centre is fully booked till 2027.

Wike disclosed this in Abuja on Thursday, during the inauguration of the Kugbo Bus and Taxi Terminal by President Bola Tinubu to celebrate his second year in office.

He recalled that the FCT Administration came under criticism for spending huge resources to rehabilitate and upgrade the conference centre to international standard.

He said that some people condemned the decision to refurbish the centre, adding that Tinubu had just hosted an ECOWAS meeting at the centre.

According to him, people and organisations are now rushing the edifice to hold their events.

“You know Nigerians can pretend. They like good things, but they pretend as if they don’t.

“As I speak to you, that conference centre has been booked now till 2027. No space.

“In fact, I saw the application by the Deputy Speaker on constitutional amendment but there is no space, no day, but I’m trying to adjust if he can pay on time, because it’s not free.

“There’s nothing like a national assembly this or that, you have to pay something for us to sustain the facility.”

He commended Tinubu for taking a decisive decision to move the country forward.

He noted that there could be some challenges being experienced in the country, adding that and that’s the essence of leadership.

According to him, no leader can succeed without taking decisions that might come with criticism.

“No leader can succeed without taking a decision because people will say something – people must say something because if you don’t take that decision, people will say something.

“If you take the decision, people will say something. Therefore, do something.

“For me, that’s all about what we are doing in FCT. We are not here to make only big men happy; we are here to make big men and poor people happy.

“That’s what will move this country forward and that’s what the President has shown.”

He explained that the Kugbo bus and taxi terminal being inaugurated, alongside its counterpart in Mabushi and that of the Central Business District under construction would sanitise public transportation in the FCT. (NAN)

Edited by Abiemwense Moru

NECA hails Tinubu’s economic reforms 
Economy/Business

NECA hails Tinubu’s economic reforms 

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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

Tinubu lauds Wike for transforming Abuja to world class city
Metro

Tinubu lauds Wike for transforming Abuja to world class city

229 total views today

By Philip Yatai

President Bola Tinubu has commended the Minister of the Federal Capital Territory (FCT), Nyesom Wike, for keying into his vision of developing Abuja to a world class capital city.

Tinubu made the commendation in Abuja on Friday, while inaugurating the first phase of Arterial Road N5 (Obafemi Awolowo Way), from Life Camp Junction to Ring Road III, to celebrate his second year in office.

Represented by the Secretary to the Government of the Federation, Sen. George Akume, the President said that the Arterial Road N5 represented what Nigerians can achieve when vision meets action.

He said that the road represented a symbol of collective progress and commitment to a better future.

“It reflects on our commitment to deliver a modern infrastructure that improves the daily lives of our people.

“With the inauguration of this road, traffic circulation around the districts of Dape, Gwarimpa 1, Kado, Karsana, Idu, and Mbora will greatly ease.

“It will further decongest traffic gridlock around the life camp junction and adjoining neighbourhoods,” he said.

Tinubu also commended the FCT administration, the residents and stakeholders who have been integral to the project.

“Thank you, Mr Wike and all the residents and stakeholders who have made this project a reality.

“I also congratulate the FCT administration for keying into our vision of developing the nation’s capital to a level comparable to that of the world’s top capital cities,” he said.

On his part, Wike urged resident of the FCT to bear with the inconveniences caused by the ongoing infrastructural development, noting that development comes with challenges.

He said that the contract for the extension of the Arterial Road N5 was awarded by the Federal Executive Council in September 2024, but work commenced in October.

He said that the contract was awarded to Julius Berger in two phases, adding that the first Phase was inaugurated, while the second phase would be inaugurated before the end of 2025.

Wike commended the affected communities who lost their houses to the road project for their understanding and support.

He said that compensation was paid to both affected indigenes and non-indigenes in line with Tinubu’s Renewed Hope Agenda.

According to the minister, conversation is ongoing with community leaders to pay them compensation to be able to extend the road to Nnamdi Azikiwe Airport.

He commended the President and the National Assembly for identifying with the FCT.

Earlier, Mr Richard Dauda, acting Executive Secretary, Federal Capital Development Authority, said that the road was a six-lane dual carriageway with a parking lane, making it eight lanes.

Dauda said that the road was one of the major inter-districts roads that traversed several districts in the city.

“As provided in the FCT Master Plan, the Arterial Road N5 starts from the Central Business District, International Conference Centre, passes by the NPC towers and traverses through Wuse District in Phase I.

“It continues through Utako and Jabi District in Phase II and up to Dape and Gwarinpa Districts in Phase III.

“Future development will extend the road up to Phase IV,” he said.

He said that Phase I and II had been fully developed, adding that the potion being inaugurated was in Phase III section of the road, from Life Camp Junction up to Ring Road III. (NAN)

Edited by Kadiri Abdulrahman

Tinubu reaffirms commitment to urban devt, improved quality of life 
Metro

Tinubu reaffirms commitment to urban devt, improved quality of life 

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By Philip Yatai

President Bola Tinubu has reaffirmed his administration’s commitment to urban development and improving the quality of life of residents of the Federal Capital Territory (FCT).

Tinubu stated this while inaugurating the newly constructed Collector Road CN2 (Zakari A. Kyari Street) and other roads, in Abuja on Thursday, to celebrate his second year in office.

The road, from Arterial Road N11 (Ahmadu Bello Way) in Mabushi District to Judges Quarters in Katampe District, and other roads within Katampe, were constructed by the FCT Administration.

Represented by the Deputy Speaker, House of Representatives, Mr Benjamin Kalu, the president said that his administration would continue to invest in critical infrastructure.

He identified key areas to include roads, bridges, housing, transportation, education, and healthcare.

According to him, infrastructure development is not an expenditure, but a good investment for the people.

“I assure you that we are committed to making sure that every Nigerian feels the impact of good governance.

“We will continue to work tirelessly to deliver infrastructure projects that will enhance the quality of life for our citizens.

“This project reflects our administration’s commitment to urban development and improving the quality of life for our citizens.

“We believe that infrastructure development is critical to national growth and development.”

Tinubu commended the FCTA Minister, Mr Nyesom Wike and his team for prioritising infrastructure delivery.

He urged the residents of Mabushi, Katampe, and surrounding areas to protect and preserve the roads while using them.

On his part, Wike said that the construction of the roads was flagged off in October 2024 for completion in 12 months.

He, however, said that the contractor, CGC, was able to deliver the roads in about nine months due to its capacity to deliver quality projects, and in time.

The minister said that the roads would not only improve mobility and interconnectivity but improve the economies of the areas.

He particularly said that prices of land in the areas would significantly increase, which would be beneficial to landowners.

Wike attributed the successes being recorded in the delivery of infrastructural projects in the FCT to the continued support of Tinubu.

Earlier, Mr Richard Dauda, acting Executive Secretary, Federal Capital Development Authority, said that the project was executed by CGC and was flagged off in October, 2024.

Dauda said that the CN2 road was a dual carriageway of two lanes each while the other roads were single carriageway.

He added that road projects were executed to provide infrastructure and open up the Katampe District for development.

The News Agency of Nigeria (NAN) reports that shortly after the inauguration, Wike inspected Judges Quarters under construction in Katampe and the N5 Road (Obafemi Awolowo Way) from Life Camp to Ring Road III scheduled for inauguration on Friday. (NAN)

Edited by Sadiya Hamza

I have no regret naming international conference centre after Tinubu – Wike
Metro

I have no regret naming international conference centre after Tinubu – Wike

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By Philip Yatai

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, says he has no regret naming Abuja International Conference Centre after President Bola Tinubu.

Wike said this in Abuja on Friday, during the inauguration of the completed 15-kilometre left hand service carriage way of OSEX Stage II, from Ring Road I to Wassa Junction.

The News Agency of Nigeria (NAN) reports that criticism followed the naming of the rehabilitated Abuja International Conference Centre after Tinubu, shortly after it was reopened on Tuesday.

Others described expending N39 billion to renovate the edifice as a misplaced priority.

Reacting, Wike wondered why some people were criticising the naming of the conference centre after Tinubu.

According to him, Nnamdi Azikiwe International Airport was not built by Azikiwe and Moshood Abiola National Stadium was not built by Abiola.

He added that those criticising the rehabilitation of the centre do not have good taste.

“I have done it, and I have no regret at all,” Wike said.

He said that the only thing that was not changed in the centre was the structure saying, “everything in that centre was changed”.

He expressed dismay that instead of commending Tinubu for doing very well, some people derived pleasure in indulging in baseless criticism.

Wike said those who described the N39 billion spent on the renovation of the centre as a misplaced priority had lost track of time and the changing exchange rate of Naira to a Dollar.

“They said that the centre was built with N240 million, but which year? 1991.

“What was the exchange rate in 1991 compared with today? Look at it, 1991 and we are now in 2025.

“Nobody who loves this country will criticise the rehabilitation of the international conference centre,” he said.

The minister said that Nigeria was seen as the giant of Africa, adding that people must see what makes the country the giant of Africa.

“We deserve the best for the country and Mr President has given us the best,” he said.

IMPI, others say Nigeria recording economic growth, advises Tinubu not to slow down
General News

IMPI, others say Nigeria recording economic growth, advises Tinubu not to slow down

238 total views today

By Kadiri Abdulrahman

A Nigerian Think Tank, the Independent Media and Policy Initiatives (IMPI),  other institutional and individual analysts say Nigeria ‘s economy  is recording growth.

 

The IMPI advised President Bola Tinubu not to allow the 2027 election cycle to slow down tbe economic reforms.

 

The Chairman of the initiative, Omoniyi Akinsiju, gave the advice at a news conference on Tuesday in Abuja.

 

According to Akinsiju, as Nigeria’s election cycle edges towards 2027, the president should not be tempted to slow the pace of change.

 

“The president should forge ahead with the reforms with the overriding aim of making ordinary Nigerians, and not just investors, to feel the benefits of his shock therapy,

 

“We join other institutional and individual analysts that have objectively reviewed the impact of the economic restructuring under the Tinubu administration and returned a positive outlook for the economy consequent upon the reforms,’’ he said.

 

Akinsiju referenced the validation of Tinubu’s economic reforms by Moody’s Rating which had upgraded Nigeria’s rating by a notch to ‘B3’ from ‘Caa1,’ citing significant improvements in the country’s external and fiscal positions.

 

He said that Moody’s upgrade of Nigeria’s rating,, another global financial service rating company, Fitch Ratings, had upgraded Nigeria’s sovereign credit rating to B with a stable outlook.

 

“This upgrade, which occurred on April 11, reflects increased confidence in the government’s commitment to policy reforms.

 

” Prior to the upgrade, Nigeria’s rating was at B- with a positive outlook. The upgrade is attributed to the government’s policy reforms, particularly those implemented since June 2023.’’ he said.

 

Akinsiju said that the World Bank, had always been effusive in commending the economic reforms in spite threat of political backlash.

 

“In one of its Nigeria Development Update (NDU) reports, titled “Building Momentum for Inclusive Growth”, the World Bank noted that the improvements in fiscal conditions were primarily driven by increased federation revenue.

 

“This has contributed to the positive economic outlook for the country.”

 

It mentioned that economic growth in the last quarter of 2024 had surged to 4.6 per cent on a year-on-year basis, bringing the full-year growth for 2024 to 3.4 per cent,” he said.

 

According to him, that is the highest since 2014, excluding the ‪2021-2022‬ COVID-19 rebound.

 

Akinsiju also mentioned the London-based Financial Times newspaper, which was more declaratory in its review of Nigeria’s economic review.

 

“In a report, the Financial Times notes that Nigeria is in better shape than at any time in the past decade just halfway through the first term in office of the Tinubu administration.

 

“The report acknowledged that its verdict may come as a surprise or even sound like a sick joke to tens of millions of Nigerians who are suffering the worst cost of living crisis in a generation,`’ Akinsiju said.

 

He said that although unemployment had been high, there was a shift in the needle that suggests signs of job creation in the economy in 2024, driven by economic growth and sector-specific initiatives.

 

“Though challenges remain, particularly regarding youth unemployment, we submit that the services sector has played a significant role in boosting employment in the country,” he said.(NAN) (www.nannews.ng)

Edited by Ese E. Eniola Williams

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