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Tinubu’s Economic Decisions Yielding Positive Results -Shettima …Seeks Partnership With Banks For Speedy Economic Turnaround

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Nigeria’s Vice President, Kashim Shettima, yesterday, said President Bola Tinubu’s economic decisions in the past 100 days in office are yielding positive results.
Shettima made the assertion to a cross-section of stakeholders in the banking and finance sector at the opening of the 16th Annual Banking and Finance Conference themed, ‘Nigeria’s Economic Growth and Empowerment: The Role of The Financial Services Industry’.
He noted that the aftermath of the petrol subsidy removal and the unification of the exchange rate availed state and federal governments substantial allocations.
“I must announce with pride that our decisions are already yielding tangible results, with both state and federal governments now enjoying more substantial allocations”, he said.
The Vice President, who was the special guest of honour at the conference held in Abuja, spoke on the topic, ‘Our Priorities in a Post-Pandemic World’.
Shettima’s remarks came barely three weeks after the National Economic Council (NEC), which he chairs, approved N5bn for states and the Federal Capital Territory to procure food items for distribution to the poor in their respective domains.
While noting that the funds promised a direct and positive impact on the lives of Nigerians, Shettima said without the serially unaccounted fuel subsidies, Nigeria can now redirect her savings towards more deserving causes.
“We envision a future where no leader can resort to the tired excuse of ‘scarcity of funds’ to evade completion of projects or delayed salary payments.
“Nigeria is crafting a story where the welfare of our people takes precedence, and financial accountability reigns supreme,” he added.
Meanwhile, the Vice President sought a stronger partnership with experts in the Banking and Finance industry, saying that such synergy could turn the economy around in record time.
He said “We must now do what pessimists may regard as impossible; turning the economy around in record time. We seek your partnership in getting this done. We cannot take your support for granted,”
Shettima noted that the journey towards economic rejuvenation is not one the Tinubu administration can undertake in isolation, adding,”It is a call to forge robust partnerships with strategic nations and multilateral organisations, for in unity, Nigeria can reposition itself as a formidable, globally competitive partner.”
The Vice President harped on the role of banking and finance in rejuvenating the economy and called on stakeholders to join in serving the nation.
“We have promised to reposition consumer finance, and that can’t be done without you. We have promised to incentivise and finance value-addition to our agricultural and other products, and you are our ally in this.
“We need you because Nigeria teeters on the edge of a precarious balance of payments as we import more than we export.
“The future is already here, and this industry is a springboard for the success of our reforms and programmes. Whether in incorporating blockchain technology or expanding financial inclusion to deliver dividends of democracy to banking and unbanked citizens, Nigeria is here to occupy the high table in a fast-changing world”, he said.
Speaking on the ‘Eight-Point Agenda’ of the Tinubu Administration, the Vice President said the government is prioritising food security and poverty eradication.
According to him, “We are prioritising economic growth and job creation. We are prioritising access to capital and improving security.
“We are prioritising improving the playing field on which people and particularly companies like yours operate.
“We are also prioritising the rule of law and the fight against corruption. Each agenda cannot be fully implemented without your cooperation.”
Earlier in his remarks, the President of the Chattered Institute of Bankers, Mr. Ken Opara, praised the reform initiatives of President Tinubu, noting “the reforms such as subsidy removal, unifying the foreign exchange regime, investing in infrastructure, promoting agriculture, supporting SMEs and tax reforms, among others, if well implemented will unlock the economic potentials of the country.”
Present at the event were the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu; Chairman, Senate Committee on Capital Market, Sen. Osita Izunaso; Ag. Governor of Central Bank of Nigeria, Mr. Folashodun Shonubi, and World Bank Representative in Nigeria, Mr. Shubam Chaudhuri, among others.

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We’ll Make Fire Service Functional After 12 Yrs, Fubara Assures …Inspects Rehabilitation Works On Three Stations

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Rivers State Governor, Sir Siminalayi Fubara, has expressed regrets that, for over 12 years, the State-owned Fire Service Stations were left in limbo but assured that the ongoing rehabilitation will be concluded and the stations ready for public use in the first week of March, 2025.

Fubara gave the assurance when he embarked on an inspection tour of the three Fire Service Stations to access the extent of work done with the ongoing remodelling, expansion and reconstruction activities on the sites, yesterday.

The governor visited the fire service stations located beside the Isaac Boro Park/Mile One flyover, Borokiri in the old Port Harcourt Township and Rumuodomaya Community, all in Port Harcourt and Obio/Akpor Local Government Areas.

He explained that with the ongoing work, the three major Fire Service Stations would be put into effective state to provide rapid and quick response to fire incidents in the State.

Fubara said, “For a very long time, we have had this situation that we have to depend on the multi-nationals; Shell, Agip and Chevron and even (Elf) TotalEnergies at that time, including to respond to fire incidents in the State.

“From what we have seen today, we can confirm that the contractor is working very hard to meet the deadline. We must, I repeat, we must commission this project first week in March.”

The governor said it is the responsibility of the government to have such facilities that provide vital social services available to the people to address fire incidence when they occur.

He assured that his administration would reverse the utter neglect such social services had suffered, and ensure that Rivers people, in no distant future, begin to benefit from the stations.

“As a matter of fact, I can boldly say that Rivers State has not had a functional Fire Service for the past 12 years. We are a government, and amongst our responsibilities, is to protect lives and property. Issues of fire incidents could be as a result of some mistakes in our homes.

“So, it is our duty to make sure that we are prepared to combat it whenever it occurs. We are trying to make sure that we do not depend again on the multi-nationals, but be ready and prepared to save lives and property of Rivers people,” he said.

Governor Fubara was accompanied by the former Commissioner for Water Resources, Dr Tamunosisi Gogo-Jaja, and was conducted round the facilities by the Commissioner for Special Duties, Dr Samuel Anya.

 

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FG Shops For New Accountant General, Plans Exams, Interviews

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The Federal Government has initiated the process of appointing a new Accountant General of the Federation and filling vacancies for permanent secretaries in the Federal Civil Service.

A memo from the Office of the Head of Civil Service of the Federation, dated January 24, 2025, and signed by the Permanent Secretary of the Career Management Office, Fatima Mahmoud, outlined the timeline for the process.

The memo was addressed to the Offices of the Secretary to the Government of the Federation, Chief of Staff to the President, ministers, and heads of ministries, departments, and agencies.

President Bola Tinubu had earlier, in December 2024, appointed Babatunde Ogunjimi as the acting Accountant General of the Federation.

The appointment, announced in a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, followed the commencement of pre-retirement leave by the then-incumbent AGF, Dr. Oluwatoyin Madein.

However, Madein returned to her duties after receiving a directive extending her tenure until March 7, 2025.

This development led to the reassignment of the acting AGF, Ogunjimi, who was redeployed to the Public Service Institute of Nigeria as Director of Accounts.

The directive authorising Madein’s continuation was reportedly issued by the Head of Service of the Federation.

According to the spokesperson for the Office of the Accountant General of the Federation, Bawa Mokwa, the directive reinstated Madein to her role as AGF, enabling her to oversee treasury operations until her retirement.

Mokwa clarified that under civil service regulations, embarking on terminal leave is optional, raising questions among staff about the implications of Madein’s reinstatement on Ogunjimi’s prior appointment as acting AGF.

The new memo by the Head of Service noted that accreditation of eligible candidates for the position of OAGF will commence on January 28 and end on February 1, 2025.

“Stage 1: Written Examination for eligible Candidates from North-West Zone and Oyo State on Monday, February 10, 2025.

“Stage 2: Written Examination for eligible Candidates/Directors (Accounts) in the Pool of the Office of the Accountant-General of the Federation on February 11, 2025.”

The memo further noted that further stages will hold on February 12 and 13, respectively and will be in the form of computer-based tests, while the final lap, which is the oral interview, will hold on February 14, 2025.

 

 

 

 

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FRSC Records 9,570 Road Crashes, Arrests 21,580 Offenders In 2024

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The Federal Road Safety Corps (FRSC) says it arrested no fewer than 21,580 traffic offenders between January and December 2024 across the 36 states and Federal Capital Territory (FCT).

The FRSC Corps Marshal, Malam Shehu Mohammed, disclosed this while addressing the reporters on the 2024 special patrol operations in Abuja, yesterday.

Mohammed said that the Corps recorded a reduction in the number of offenders recorded in 2024 as against 29,220 within the same period in 2023.

“This signifies a 26 per cent increase in compliance to traffic rules and regulations.

“The total number of offences committed stood at 25,942 representing 23.5 per cent reduction in traffic law violation compared to the data of the same period in 2023,” he said.

Mohammed said that the analysis of the Corps’ annual performance indicated a drastic reduction in Road Traffic Crashes (RTCs).

This, he said, was as well as in the number of people injured compared to the annual record of 2023.

“From Jan. 1 to Dec. 31, 2024, a total of 9,570 RTCs were recorded nationwide. This figure is against 10,617 RTCs recorded in 2023 which signify a tremendous reduction of 10 per cent.

“Furthermore, 31,154 people were injured in 2024 while 31,874 were injured in 2023 representing a two per cent decrease.

“However, the Corps recorded a seven per cent increase in fatalities as 5,421 people were killed in 2024 while 5,081 people were killed in 2023.

“Meanwhile, a total of 70,530 people got involved in RTCs in 2024 compared to 70,092 of 2023 signifying an increase of one per cent, ” he said.

The FRSC boss emphasised that out of the total fatalities that occurred in 2024, 411 deaths, representing 7.6 per cent of the total deaths, were not primarily caused by the crashes.

Mohammed said that the crashes were caused by a secondary factor which he described as the very monster the Corps was fighting; scooping of fuel from fallen tankers.

“This, therefore implies that without the casualties recorded from scooping fuel from crashed tankers, the Corps would have recorded 5,010 deaths in 2024.

“This will be as against 5,081 in 2023 signifying a 1.4 per cent reduction in the total number of people killed,” he said.

The FRSC Corps Marshal reiterated that the alarming rate of crashes and fatalities occurred as a result of loading of trailers with goods and persons.

This, he said, was in addition to fatigue, speed violations, overloading, dangerous driving as well as poor vehicle maintenance within the period under review.

 

 

 

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