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Finding Solutions to Nigeria’s Problems a Collective Responsibility – Rep. Doguwa

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Rep. Alhassan Doguwa (APC, Kano) says finding lasting solutions to Nigeria’s economic problems is a collective responsibility and urges protesters of hunger and hardship to embrace dialogue.

Doguwa, representing Doguwa/Tudun Wada Federal Constituency, stated this while addressing officials of Kano Youth Forum, who visited him in Kano.

He condemned the unfortunate looting and vandalisation of public and private properties that characterised the 10-day nationwide protests which began on Aug.

1 in some parts of the country.

Stressing the need for democratic approach to solving the problems, the lawmaker, who is the Chairman, House Committee on Petroleum Resources (Upstream), advised youths to shelve protest and adopt dialogue.

This, according to him, will ensure a peaceful resolution to the burning issues.

Doguwa, a former Majority Leader in the 9th Assembly and current leader of the Northern Regional Caucus in the 10th Assembly, noted that the current economic crisis was not peculiar to Nigeria.

According to him, the United States of America, seen to be the most democratic nation on earth, also has its fair share of economic and social problems.

“I admit that there are issues. I agree with the Nigerian people that we have some itching problems, economic, social and other problems.

“However, I want to say that the problems bedeviling our society are not for the Federal Government alone to address.

“The governors are involved; our local government councils are involved; and some other agencies of government which are also fully funded to undertake their constitutional responsibilities are also involved,” he said.

He called on aggrieved Nigerians to also hold their respective governors accountable in the utilisation of public funds to provide basic amenities and address insecurity.

Doguwa added: “This is why the governors are called chief security officers of their respective states and they must be held accountable in protecting the lives and properties of their people,” he added.

“So, for me, it is a collective responsibility, and as such, not right to continue to blame the federal government.

“While I am not holding brief for the government, I agree that our people are really facing a lot of problems and the government must be held responsible for that.

“People must understand that the problems we are facing today and the way to go about finding solutions to them does not lie on the shoulders of the federal government alone.

“We all have to contribute, whether as individuals, organisations, or associations, to solving our problems for the good of all.”

The lawmaker argued that President Bola Tinubu operates an open-door policy and urged the youths to take advantage of it through constructive dialogue towards finding lasting solutions to the country’s problems.

He added that Tinubu and other national leaders, including state governors, were ready to listen to advice and suggestions on ways forward.

“This is the democratic approach that I am talking about, as against taking sticks and other dangerous weapons to the street, destroying public offices, vandalising and looting shops in the name of protest.

“This will not mean well you guys. It will also not mean well for the society and the government will not condone such acts,” he said.

Earlier, the leader of the group, Mr Muktar Raula explained that the visit was to convey their solidarity and support for the Tinubu-led administration.

Raula commended Tinubu for signing the Northwest Development Commission Bill into law and his commitment to many other development projects in the north. (NAN)

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Robust Capital Market Crucial for Nigeria’s Economic Prosperity- NGX Chairman

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Chairman, Nigerian Exchange Group, Dr Umaru Kwairanga, says the Nigerian Capital Market has experienced exponential growth since he assumed office in 2022.He reiterated the group’s commitment to deepening Nigeria’s capital market in alignment with President Bola Tinubu’s vision of growing the nation’s GDP to one trillion dollars by 2030.

In a statement issued in Lagos, Kwairanga was said to have made the remarks while delivering a keynote address at the “For the Love of Our Country (FLOC) 2025” symposium, held at Bayero University Kano (BUK) on Friday.
He spoke on the theme, “Reimagining Nigeria’s Economy for a Prosperous Future: Where We Were, Where We Are, and Where We Should Be in the Next Decade”.
According to him, the All Share Index (ASI) rose from 48,837 basis points to 111,742 basis points, while market capitalisation grew from N26.375 trillion to N70.463 trillion by May 2025.He said that bond markets were included with total market capitalisation now at over N121 trillion.“This growth shows that we have more than doubled the indices of both our equity and bond markets in just over two years.“However, our goal is even more ambitious as we work towards making the capital market central to achieving a $1 trillion economy,”he said.Kwairanga emphasised the strategic importance of a robust capital market in financing long-term infrastructure, encouraging formalisation of businesses, and mirroring the nation’s true economic potential.He noted with concern that Nigeria’s market capitalisation remains less than 20 per cent of Nigeria’s GDP, compared to South Africa’s Johannesburg Stock Exchange which exceeds its national GDP.To address this, he outlined several initiatives being undertaken by NGX Group and its regulators, particularly the Securities and Exchange Commission (SEC), to enhance market transparency and efficiency.He said these include the dematerialisation of share certificates, resolution of unpaid dividend backlogs, and the recent reduction in clearing time for secondary market transactions to T+2.“We are working closely with regulators and stakeholders to make our market more accessible and attractive.”He said that major listings in the oil and gas sector, such as the planned sale of a stake in NNPC Ltd. and the anticipated listing of Dangote Petrochemicals, would significantly boost market capitalisation.He also spoke on digital innovation as a key driver of market participation, citing the launch of NGX Invest, a digital platform for primary market offers and financial literacy campaigns targeting youths, students, and members of the National Youth Service Corps (NYSC).The chairman revealed the ongoing engagements with institutional investors such as pension fund administrators and mutual funds.He also hinted on the development of sophisticated products like exchange-traded funds, derivatives, and ethical investment instruments.He highlighted efforts to integrate African capital markets through cross-border linkages that would allow investors in Nigeria to trade shares listed on exchanges in countries like Ghana and vice versa.In spite challenges such as declining disposable income, infrastructural deficits, and global economic headwinds, Kwairanga expressed optimism that these could be surmounted.“We are confident that Nigeria will have the broader, deeper, and more sophisticated capital market it deserves before the end of this decade,”he said. (NAN)

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FCT Emergency Department Rescues Suspected Victim of ‘one Chance’ in Asokoro

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The Federal Capital Territory Emergency Management Department (FEMD) says it has rescued a woman, who was forcefully pushed out of a moving vehicle in Asokoro, Abuja, on Friday.The department’s Head of Public Affairs, Mrs Nkechi Isa, disclosed this in a statement in Abuja.

Isa said that the incident occurred at about 4:30 p.
m. at the Powerhouse Bus Stop Junction,Yakubu Gowon Crescent in Asokoro.
According to her, eyewitnesses at the scene said the woman was pushed out of a moving vehicle suspected to be a robbery, by “one chance” operators.She described “one chance” as a criminal gang posing as commercial drivers with passengers, leaving one space (one chance) for an unsuspecting victim.
Once they take off, the criminals dispossess the victims of their valuables and often throw them out of the moving vehicle.She said that the FEMD Search and Rescue Team was notified of the incident by the FCT Fire Service and immediately swooped into action.“On arrival at the scene, the team found the victim, identified as Khadija Salisu, unconscious but without visible physical injury.“She was promptly taken to the Asokoro District Hospital and is responding to treatment,” Isa said. (NAN)

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Ministry Warns Public Against Fake Account

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The Ministry of Foreign Affairs on Friday warned against the use of social media accounts by unscrupulous individuals spreading false information about its officials.The ministry’s spokesperson, Kimiebi Ebienfa, issued the warning in Abuja following the creation of a fake Facebook account in the name of Permanent Secretary, Amb.

Dunoma Ahmed.
Ebienfa said, “This fraudulent account is being used to spread false information, promise contracts, solicit help, and offer enticing rewards to unsuspecting members of the public.
“The Ministry firmly disassociates itself from this impersonation and urges the public to disregard any messages from the fake account, which is not an official channel.
“It is important to clarify that the Permanent Secretary does not operate or own any social media account.” He advised the public not to engage with individuals or groups behind such fraudulent schemes, as they are deceptive and harmful. According to him, the ministry is working closely with security agencies and Meta, Facebook’s parent company, to investigate and shut down the fake account. Ebienfa reaffirmed the ministry’s commitment to transparency, integrity, and protecting citizens from fraudulent activities across all platforms. (NAN)

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