Business
NAGAFF Faults Senate’s Call For Ali’s Resignation
The National Association of Government Approved Freight Forwarders (NAGAFF) has faulted the call by the Senate for the resignation of Comptroller-General of Customs, Col. Hameed Ali (rtd), over his refusal to wear the service uniform.
NAGAFF‘s National Publicity Secretary, Mr Stanley Ezenga, told The Tide source in Lagos yesterday that the senate should rather engage Ali on issues based on performance than on wearing of uniform.
He said the customs boss was not a career customs personnel and compelling him to wear the uniform did not seem the right thing to do.
Ezenga urged the senate to engage Ali on issues based on performance rather than uniform that had no impact on efficient service delivery in the customs.
“We at NAGAFF are not in support of the call for the sack or resignation of the Comptroller-General of Customs by the Senate over his refusal to appear before it in full customs uniform.
“Our position is based on the fact that the issue has nothing to do with service delivery and that he is not compelled by any rule or law to do so as he is not a career customs officer.
“Rather than delving so much on issue of uniform wearing, we urge the senate to criticize the CG on issues of performance and other things that could make the customs deliver on their mandate.
“We appeal to the Senate to spare us all this uniform drama and focus on better issues that could deliver the dividends of democracy to Nigerians,’’ he said.
Our source gathered that the senate had called for the resignation of the Comptroller-General following his refusal to appear before the upper house on Wednesday in his Customs uniform.
The senate had said Ali was not fit to occupy office for not heeding the directive to wear uniform and that he was sending a wrong message to career custom officers by his refusal to do so.
The upper chamber had earlier turned back the Comptroller-General on March 16 for not appearing in uniform, and rescheduled his appearance for Wednesday.
Ali said his refusal to wear the uniform was hinged on the fact that he had been sued on the issue and he was awaiting the outcome of the litigation.
He also cited an advice from the Attorney-General of the Federation (AGF) as reason for his decision.
The senate had first invited Ali to appear before it on March 8 to brief it on the proposed policy for payment of Customs Duty by vehicles owners, no matter the age of the vehicle.
Business
CBN Predicts 4.17% GDP Growth In 2025
The Central Bank of Nigeria (CBN) has announced that the 2025 economic indices indicate a positive outlook, with the nation’s GDP expected to accelerate to 4.17 per cent for faster economic growth.
Mr Muhammad Abdullahi, Deputy Governor, Economic Policy Directorate, CBN, revealed this on Tuesday during the 11th edition of the National Economic Outlook: Implications for Businesses in 2025.
The hybrid event, convened in Lagos, was organised by the Chartered Institute of Bankers of Nigeria (CIBN) Centre for Financial Studies in collaboration with B. Adedipe Associates Ltd.
Abdullahi said the nation’s 2025 economic projections remained optimistic with fiscal and monetary reforms already paying off, resulting in the GDP anticipated rise from 3.36 per cent recorded in 2024.
According to him, the growth is anchored on sustained implementation of government reforms, stable crude oil prices, and improvements in domestic oil production.
Abdullahi also stated that stability in the exchange rate would play a crucial role in maintaining the positive trajectory, with the inflation rate projected to decline due to the impact of economic reforms.
“Achieving the targeted inflation rate of 15 per cent in 2025 will require effective collaboration between monetary and fiscal authorities, alongside private sector participation for a stable economic environment,” he said.
The keynote speaker said that the apex bank would prioritise price stability and strengthen the financial sector to support SMEs and critical sectors for businesses to thrive.
Abdullahi noted that the nation’s evolving policy landscape presented both challenges and opportunities for businesses to thrive.
“The government is making deliberate strides to diversify its revenue streams and reduce dependence on the volatile oil sector.
“Through ongoing tax reforms aimed at broadening the tax base and improving collection efficiency, the government is working to establish a more sustainable fiscal environment.
“While these reforms may present challenges in the short term, they are essential for building a more resilient and diversified economy in the long run.
“As businesses, it is crucial to adapt to these changes, understanding that they will ultimately strengthen the economic foundation for future growth.
“As we move forward on this path of exploration and collaboration, we must remain focused on the vast opportunities before us.
“Nigeria’s abundant resources, coupled with the current administration’s commitment to economic reform, offer a fertile ground for innovation, investment, and sustainable growth,” Abdullahi said.
Similarly, Prof. Pius Olanrewaju, President/Chairman of the Council, Chartered Institute of Bankers of Nigeria (CIBN), said 2024 presented both challenges and opportunities.
He noted that the GDP signalled gradual recovery amidst global and domestic pressures.
“As we move into 2025, we are presented with both the opportunity and responsibility to critically examine the economic landscape.
“This forum will help us identify the risks, harness the opportunities, and strategize for the future,” Olarenwaju noted.
He commended the collaboration of experts at the annual event, which included Dr Kabir Katata, Director, Research, Policy and International Relations, Nigeria Deposit Insurance Corporation; and Dr Henrietta Onwuegbuzie of the Lagos Business School.
Others were Akinsola Akeredolu-Ale, CEO, Lagos Commodities and Fixtures Exchange; Mr Akeem Lawal, Managing Director Interswitch (Pure pay); and Chinwe Uzoho, Regional Managing Director, West and Central Africa Network International.
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