Metro
How to Address Nigeria’s Economic Challenges — NECA

The Nigeria Employers’ Consultative Association (NECA) has described the economic challenges facing the country as multi-faceted and called for a holistic and multi-pronged approach toward resolving them.
NECA’s Director-General, Mr Wale Oyerinde, in a statement on Sunday in Lagos, said there was no better time for the Federal Government to reappraise current economic policies and deepen its engagement with the organised private sector.
‘’The nation is currently faced with multiple challenges: with dire combination of spiraling inflation; rising energy cost; scarcity of foreign exchange (FOREX); dwindling value of the naira and an almost comatose aviation sector.
‘’Also, stuttering education system; rising debt; depleting Foreign Reserve and rising fuel subsidy expenses among others, which threaten to lay bare the country’s economy.
‘’While government’s effort to salvage the economy is commendable, there is, however, need for a more holistic approach to resuscitate the stuttering economy, ‘’ he said.
The director-general noted that Nigeria had always lived dangerously on the precipice, with a major chunk of its revenue dependent on the complexities of global crude demand and supply.
According to him, a dangerous blend of self-destructive tendencies, insecurity and fiscal and monetary policy inconsistencies have also conspired to make the situation worse.
“In April 2022, the World Bank warned that the rising cost of fuel subsidy could significantly impact public finance and pose debt sustainability concerns: alas, this projection is almost happening.
‘’The fiscal performance report released recently by the government confirmed the accuracy of these projections.
‘’The combination of a struggling aviation sector and roads taken over by bandits have also conspired to fuel the situation, leading to rising inflation at 18.6 per cent, according to the National Bureau Statistics.
‘’These have continued to worsen the promotion of commerce and the increase the rate of de-industrialisation of some regions of the country,” he said.
Oyerinde, therefore, called for the commencement of a deliberate and economic-priority- influenced approach and wide consultation with stakeholders.
This, according to him, should be with the view of harvesting alternative policy options to re-energise all sectors of the economy.
‘’While the challenges of revenue shortage are acknowledged, burdening businesses with new taxes or levies will be counter-productive and a self-destructive action.
‘’Over-burdening already burdened businesses will only lead to business closure and an escalation of job losses with consequential effect on our social and economic stability.
‘’Government should, in the short-term widen the tax net, reduce wastage in governance, and focus on economic projects that will stimulate the Nigerian economy and guarantee an enabling environment for businesses to operate.
‘’An enabling environment for local businesses will create the platform for new foreign direct investment, which could increase foreign exchange inflow into the country,” he said.
The director-general also urged the government, as a matter of urgency, fix the four national refineries and encourage the development of modular ones as a precursor to total removal of fuel subsidy.
He said that interventions aimed at improving living standards to stimulate consumption and enterprise sustainability to promote job creation should be implemented.
Oyerinde said, ‘’While forex scarcity persists, allocation of the available forex to manufacturing and other productive sectors of the economy should be given priority. ‘’ (NAN).
Metro
First Lady Urges Nigerians to Embrace Cultural Diversity, Promote Unity

The First Lady, Sen. Oluremi Tinubu, has urged Nigerians to embrace their cultural diversity and promote unity and respect within the diverse nation.
The first lady made the call in her message on Wednesday in commemoration of the 2025 World Day for Cultural Diversity for Dialogue and Development.
“The World Day for Cultural Diversity for Dialogue and Development, highlights the profound strength that lies our differences and the shared humanity that connects us all.
”There is indeed strength and unity in diversity.
“Nigeria for example is blessed with over 250 ethnic groups, each speaking a different language, but it is through our dialogue, our interactions, and our mutual respect that we find true identity and unity.
“On this day, I encourage every Nigerian to celebrate our cultural richness, to listen with empathy, and to lead with understanding.
“Let us embrace this journey together and shape a brighter future for Nigeria and the world,” Mrs Tinubu said.
The World Day for Cultural Diversity for Dialogue and Development is celebrated every year on May 21, to raise awareness on the role of Culture in sustainable socio-economic growth and development. (NAN)
Metro
FCTA Approves Contract For Construction Of Access Roads, others

The Federal Capital Territory (FCT) Executive Committee has approved the award of contract for the construction of access roads in Durumi and Mabushi Districts and other infrastructural projects.
Mr Richard Dauda, acting Executive Secretary, Federal Capital Development Authority (FCDA), disclosed this in Abuja on Tuesday, while briefing journalists after the 14th committee’s meeting, chaired by FCT Minister Nyesom Wike.
Dauda said that a contract was approved for the construction of access roads in Durumi District.
He explained that the contract would involve the construction of several access roads, drainages and culverts totalling about 1.7-kilometres in Durumi, around the Apostolic Church.
He added that the committee also approved the provision of access roads and infrastructure to parts of Mabushi District, particularly the Kez Udezue street, and other roads in the area.
He said that the scope of that project involves the provision of access roads, underground drainage services, street lighting, and other facilities like water and sewage collectors.
Also approved, according to the acting FCDA boss, is an emergency contract for erosion control affecting water pipelines.
He explained that the erosion affected a major water pipeline from Lower Usuma Dam through Kubwa to Airport Road and down to Gwagwalada.
“Erosion had taken place on the major pipeline feeding the various tanks up to Gwagwalada and it was a threat to the major water supply to all these areas.
“So, a Chinese company, CGC Nigeria Ltd. was invited to carry out the emergency work on the sites and the approval at the committee’s meeting was to finalise the emergency repair,” he said.
Dauda also said that the committee equally approved the award of contract for the complete renovation, furnishing and technical installations at the Department of State Security Headquarters.
“Another memo was for the construction of one block of a Magistrate Court in Jabi,” he said.
Earlier, the Chief of Staff to the FCT Minister, Mr Chidi Amadi, explained that 13 memos were submitted for consideration, out of which nine were examined and approved.
Amadi added that the nine memos were approved to deepen the infrastructural development and upgrade of the capital city and its environment. (NAN)
Metro
Infrastructure: We Have Renovated, Furnished 60 Schools in FCT – Wike

The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, says the FCT Administration has renovated and furnished more than 60 public schools across the territory.
Wike stated this after inspecting some ongoing projects in Gwagwalada and Kwali Area Councils of the territory on Friday.
He explained that beyond road projects, the FCT Administration had invested hugely in improving critical infrastructure in the health and education sectors among others.
According to him, every sector will receive the needed attention, and no one will be left behind.
“We have done a lot of work in schools. The schools we have renovated and furnished are more than 60 so far.
“I can tell you that no sector would be left abandoned, every sector will be focused on.”
The minister, however, pointed out that “good road network is what brings development.
“When there are no roads, which school will you go to?
“When there are no roads, which hospital will you go to?
“So first of all, the key thing that drives development is a good road network all over the world.
“If you’re talking about agriculture, how will you go and harvest your produce when there is no road?”
Wike said that the farming communities along the A2 to Pai road would be happy that they now have a road network to take their farm produce to the city and markets to sell.
He added that good road networks also impacted positively in reducing insecurity.
He explained that when people commit offences and there was no road to chase them, it would become a problem.
“But when you see this kind of road with streetlights, you will have to think twice before you commit any offence,” the minister said. (NAN)