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Bagudu Hails Collaboration among Fiscal, Monetary Policy Authorities

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By Tony Obiechina, Abuja

The Minister of Budget and Economic Planning, Senator Abubakar Bagudu has commended the cooperation among the fiscal and monetary policy authorities, saying it is in the best interest of the country’s economy.

“In the last 18 months, we have seen increased collaboration between fiscal and monetary authorities, and something maybe least appreciated is that we have a president who himself is very knowledgeable on the trade-offs involved between fiscal and monetary policy and the Renewed Hope Agenda in a way is a balancing act,” he told the Central Bank of Nigeria’s Monetary Policy Forum in Abuja on Thursday.

He said the collaboration had been aided by the wealth of experience of its drivers, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the CBN Governor, Olayemi Cardoso, who had worked with President Bola Tinubu in the past.

The minister acknowledged the possible divergence between fiscal and monetary policy and expressed satisfaction with how the two authorities have moderated their priorities.

He explained, “The central bank and the fiscal authorities are clear in their priorities and objectives, and no doubt disagree. But that’s how it should be. It should be healthy because when the expenditure-to-GDP ratio is lower than it should be, our first significant objective is to increase revenue-to-GDP and grow the revenue-to-GDP and expenditure-to-GDP ratio. We also have to deal with balancing inflation and driving economic growth, especially in an inclusive manner, as contained in the Renewed Hope Agenda.

“Where we think opportunities still lie is that the elasticity of our productivity is still strong, meaning we can drive productivity growth rapidly.”

He said that while the fiscal authority believed it should spend more on domestic production because the country had strong absorptive capacity in agriculture and solid minerals, it appreciated the central bank’s position that it would not intervene directly.

However, Bagudu pointed out that it was essential to invest more in agriculture, mainly because of the incremental security gains, which had enhanced production in challenged farming areas in the Northwest and Northeast.

He said the enhanced agricultural production was helping to bring down food prices across the country.

The minister said, “Borno State recorded one of the highest harvests comparable to the pre-Boko-Haram era. Kaduna State is improving, and many other states are improving. So, how do we ensure that we don’t miss that opportunity? Yes, we might have been disappointed with some of the interventions in the past, but maybe we have gained knowledge to calibrate and ensure that we do better in a way that will support further growth in domestic production because the transmission mechanism between domestic output and productivity gains and inflation effort is very, very strong.”

He emphasised that the administration’s economic reforms were working and had set the economy on the right path of inclusive growth and development, as acknowledged by global business leaders and rating agencies.

Bagudu stated, “Mr Governor, we were in Saudi Arabia with your deputy on Christmas Eve. As Nigerians, we have every reason to congratulate ourselves. We met with three ministers, who acknowledged that we are undertaking reforms even bolder than theirs because they recognise they are a monarchy.

“So, they withdrew petroleum, electricity, and B80 subsidies at 15%, including on food, to turn their economy in the right direction. But they acknowledge that we have done more in the last 18 months. And given that we are facing an election, they reckon our challenge was even more than theirs.

“That is the biggest thumb among all the international rating agencies that have told us we can do this together. I thank you for inviting us. And this handshake, I believe, will continue to evolve into a better mix of policies that will create deflation and generate double-digit inclusive growth.”

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Tor Tiv Lauds Tinubu’s Wife’s Condolence  Visit to Benue

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…..says our killers are in Nasarwa State 

From Attah Ede Makurdi 

The Paramount Ruler of the Tor Tiv nation Orcivirigh Prof James  Ayatse, has emphatically postulated that the terrorists attacking Benue innocent citizens come from Nasarwa State and after massively killing the people withdraw  back to Nasarawa State

The Begha u Tiv who disclosed this to the Nigerian First Lady at Government House Makurdi today during the condolence visit to the state described the condolence visit of the Nigerian First Lady and wife of the President Mrs Oluremi Tinubu as distinct.

He said that the first lady coming to the state after the visit of her husband following the aftermath of gruesome murder of over two hundred people at Yelewata is a demonstration of a great caring mother of the nation and a pillar of support to the President and all Nigerians.

The Tor Tiv maintained that her visit at the material time has provided additional comfort in consoling the bereaved people of Benue State stressing that the two visits by President Tinubu and his wife was a deep demonstration of their commitment towards the protection of lives and property of Nigerian citizens.

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Police Reunite 35 Rescued Kidnapped Victims with Families

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The Police Command in Niger, says it has reunited 35 rescued kidnapped victims and survivors with their families in Niger.

This is contained in a statement by its Public Relations officer, Wasiu Abiodun, on Tuesday in Minna.

According to the statement the rescued victims consist of 16 women and 19 children.

The Commissioner of Police (CP) in Niger, Adamu Elleman, represented by the DCP investigation, Ibrahim Adamu, said the victims were from Kagara, Tegina and Agwara.

According to the CP, the victims had been in custody for some period for counselling and deradicalisation processes before handed over to their Council Chairman of Rafi LGA and relatives.

He appealed to members of the public to continue to cooperate with the police by providing actionable information on criminal activities.

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Turkish Embassy Pledges Partnership with Asset Media Group

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By Donald Andoor, Abuja

The Turkish Embassy in Nigeria has pledged a working relationship with the Asset Media Group and Nigeria’s media in general to further boost long lasting diplomatic and trade relations existing between the two countries.

Head of Political Office, Embassy of the Republic of Turkiye, Muzaiffer Hakan Tok who was exchanging views with the management team of Asset Media Group in Abuja, yesterday recalled the robust diplomatic, trade and cultural relationship between Nigeria and Turkiye.

While stressing the cordial relationship existing between the two nations over time, he said there was need for media practitioners to be further enlightened about those things that were common and binding between the two nations.

He applauded the people of Nigeria and the government for the hospitality accorded Turkish nationals in the country.

Earlier, Dr. Cletus Akwaya, Proprietor of Asset Media Group, owners of the Daily Asset Newspaper and Asset Television, said the visit was to explore ways of media partnership with the embassy.

He appealed to the Turkish Embassy in Nigeria to initiate avenues for exchange of visits between journalists of the two countries to enable them to enlighten and educate the public about opportunities that abound in the country.

The diplomatic relations between the two nations started when Turkey opened an embassy in Lagos in 1962. The embassy was moved to Abuja in 2001 after Nigeria’s proclamation of Abuja as the new capital.

On the other hand, Nigeria has an embassy in Ankara, the capital of Turkey and the two countries are members of a group of eight developing nations, code named D-8.

The delegation of the Daily Asset Group included Donald Andoor, Chairman Editorial Board and General Manager of Asset Television, Ayami Sunny Ayami.

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