POLITICS
Nigeria Doing well Under Tinubu- Group
The Independent Media and Policy Initiative (IMPI), says Nigeria’s economy did remarkably well in the first quarter of 2024 under President Bola Tinubu in spite of criticisms.
Chief Niyi Akinsiju, the Chairman, IMPI said this at a news conference on Monday in Abuja.
He said following government economy reforms, Nigeria had bounce back an economic giant waiting to take its position in the sun.
This, he said, was in spite the fact that the country had remained stunted over the years because of policy misapplications.
“Already, we have started witnessing the green shoots of the impact of the policy deployments on the economy,” he said, adding that the periodic under review witnessed commendable strides in the oil and gas sector.
These, he said, included the domiciling of Nigeria National Petroleum Corporation Limited (NNPCL) revenue account with the Central Bank of Nigeria (CBN), which had facilitated a truly single treasury account platform for the country’s oil earnings.
“In addition, in a continued upward trajectory witnessed in oil and gas exploration activities, oil rig count, an index with which upstream activities are measured, surged by 23 per cent year-on-year to 16 rigs in February 2024.
“The increased rigs activities have resulted in higher crude oil production inclusive of condensates averaging 1.65 million barrels a day as per last quarter.
“While this has positive prospects for accretion to our foreign reserve, we estimate that crude oil production should increase to 1.8 million barrels a day
“Which is more than the 1.78 million crude oil production target projected in the 2024 federal budget, by the end of the second quarter of 2024,” the IMPI chairman said.
He said the government had taken the economy a notch higher with the introduction of the Consumer Credit Scheme known as The Nigerian Consumer Credit Corporation (CrediCorp).
This, he said, had the potentials to improve consumption capacity for Nigerians, resulting in expanded productive capacity for the manufacturing sector.
“This implies that you do not need to wait until you have saved so much to purchase what you desire.
“The establishment of the Credit Scheme and the extension of payment of Social Security to NCE graduates upward with a commitment of N100bn by the President.
“And the approval of Social Security Unemployment Programme to alleviate economic difficulties for unemployed youths.
“Are part of the actions and decisions of the Tinubu administration within the first quarter of the year, which we consider to be courageous, timely and commendable,” Akinsiju said.
He called on the media to sensitise and encourage them to register for BVN and NIN to enable them benefit from government’s social security programmes.
He also advised government on the urgent need to rejig its cash transfer programmes to ensure effectiveness, transparency and accountability.
He said the group was delighted to note that the Compressed Natural Gas (CNG) powered transportation system had become a reality as promised by the president.
This, he added was especially as Nigeria had now joined the group of nations with fleets of CNG vehicles.
Akinsiju said this was as all was now set for the launch and deployment of the first set of mass-transit CNG vehicles and tricycles across the 36 states of the federation and the Federal Capital Territory (FCT) in May, 2024.
He said the eco-friendly vehicles would transport commuters at reduced cost, provide thousands of job opportunities for our youths, and improve the standard of living of the people.
He added that in the immediate, the Federal Government was growing stronger on opening up and truly liberalising the Nigerian national economy from the fetters of the past.
He further added that this had reflected in the market-determined movement of the naira in the foreign exchange market.
He said with the situation at the parallel market, the naira was now competing favourably with other world currencies and continued to affirm its place as one of the best performing currencies globally.
“On the revenue side, the removal of fuel subsidy has become a financial elixir for the hitherto constricted revenue earning capabilities of the national economy.
“Nigerians are now witnesses to the monthly spectacle of Federation Accounts Allocation Committee’s (FAAC) sharing and savings never-before-earned revenue among the three tiers of government.
“Which has averaged N250bn monthly, thereby enhancing the Federal, States and Local Government Areas capacity to pay workers’ salaries and provide critical infrastructure.
“While the economy is gaining much needed momentum in the enunciated areas as recorded in the first quarter of the year,” he said.
He said the group however, observed with mixed feelings, rocketing food prices which continued to manifest in high headline inflation rate recorded at 33.2 per cent, driven by a 40.01 per cent food inflation rate in March.
He said in spite of the increase in food prices, the conscious efforts of President Bola Tinubu to rejig the economy and ensure food security through massive investment in agriculture must be encouraged.
He commended the administration for funding the ongoing dry season cultivation of 120,000 hectares of farmland for the production of wheat.
He noted that this aggressive push to boost food production was a confirmation of the president’s seriousness on his declaration of State of Emergency on Food Security on July 13th 2023.
He also commended Jigawa government for allocating 80,000 hectares of land to the Presidential initiative on wheat, and the Government of Kano and Kaduna States for making available the remaining 40,000 hectares.(NAN)
A two-term member of Edo House of Assembly, Mr Ojezele Osesua, has dumped Peoples Democratic Party (PDP) for All Progressives Congress (APC).
Osesua, representing Esan South-East Constituency, announced his defection on Monday in Benin at a news conference held at the APC state secretariat.
The development came less than two months after PDP lost the state to APC in the governorship election.
NAN also reports that the lawmaker was received by members of the State Working Committee (SWC) of the party headed by Jarrett Tenebe.
Osesua said that he decided to dump the opposition party over what he called”irreconcilable crisis.”
He said that his defection was like paying back a debt he owed the ruling when he left the party in 2020, after it had sponsored him to win election in 2019.
“In 2019, I was elected into the assembly on the platform of APC. Due to some challenges, I left the party and joined PDP after one year.
“Though I was elected on the PDP platform in 2023, I have been indebted to APC. It is that debt I have come to pay with my defection,” he said.
On his part, the APC chairman commended the legislator for joining the party.
Tenebe described Osesua as a ‘focused, election-winning’ member, adding: “It’s not APC’s fault that PDP has issues.
“You will recall that during the election campaigns, I said our doors were open and the doors are still open,” he said. (NAN)
The All Progressives Congress (APC) has accused the Peoples Democratic Party (PDP) of politicising the recent stampedes in Abuja, Anambra, and Ibadan, where several lives were tragically lost.
In a statement issued on Monday in Abuja, the APC’s National Publicity Secretary, Mr Felix Morka, condemned the PDP’s actions, calling them “grossly indecent, insensitive, and despicable.
”Morka criticised the opposition party for using the national grief over the stampedes to launch a political attack on the APC-led administration of President Bola Tinubu.
Morka stated, “At a time of national grief over the stampedes that resulted in the deaths of citizens, the PDP seized the moment to engage in callous political chicanery.
“Rather than genuinely commiserate with the victims and their families, the PDP chose to politicise the tragedy, blaming the incidents on the APC government.”
He emphasised that the tragedies had united Nigerians in mourning and reflection, with a collective focus on how the incidents might have been avoided through better planning and organisation.
“Our thoughts and prayers remain with the victims and their families,” Morka added.
Morka also rebuked the PDP for exploiting the stampedes to attack the APC, particularly since the current administration was committed to addressing the challenges inherited from nearly two decades of PDP rule.
He reminded the PDP of the 2014 Nigerian Immigration Service recruitment stampede, which occurred under its administration, where many job seekers lost their lives.
“The PDP’s allegations only serve to remind us of its sordid record of maladministration and incompetence,” Morka said.
He noted that the party’s suggestion that President Tinubu’s administration was not committed to the welfare of Nigerians was “mischievous and out of touch with reality.”
He pointed to the current administration’s efforts to invest in alternative energy sources and the introduction of the Credit Corps scheme and the Nigerian Education Loan Fund (NELFUND).
Morka also highlighted salary reviews for workers and increased allowances for corps members as part of the government’s commitment to improving the welfare of Nigerians.
Morka further highlighted the government’s commitment to provide free and subsidised transportation during the holiday period, approving grants for farmers and Small and Medium Enterprises (SMEs), and other humanitarian initiatives.
He asserted that this administration is “the most people-centric in our history.”
He also dismissed the PDP’s claim that the APC’s policies had damaged the economy.
“For years, successive PDP governments operated a phantom economy riddled with distortions and corruption, deceiving Nigerians into believing the economy was thriving.”
Morka commended President Tinubu for suspending his scheduled activities to honour the victims and expressed condolences to the families affected by the tragedies.
He wished a speedy recovery to those injured in the incidents.(NAN)
By Mike Odiakose, Abuja
Journalists covering the Senate have honoured Deputy President of the Senate, Senator Barau Jibrin, with award on highest number of private member Bills sponsorship.
Records on Private Member Bills sponsorship among serving Senators in the 10th National Assembly , obtained from Rules and Business office , indicated that Senator Barau tops with 21 bills within the last 18 months.
One of the 21 private member bills sponsored by Senator Barau was the NorthWest Development Commission Bill which is now an Act of Parliament legalising the creation of North West Development Commission (NWDC) after assented to, by President Bola Tinubu.
Barau in his response to the honour, said it would make him to do more for his constituents in Kano North Senatorial District and Nigerians generally.
”Your recognition of my legislative inputs in the Senate within the last 18 months, particularly on series of development – driven bills sponsored so far, is something that will energize and propel me further to do more.
“Once you are given an award, it’s a kind of telling you to go and do more. To whom much is given, much is expected.
”This to me also is considered as your contribution to making sure that the legislature remains vibrant.
”Once you identify those who are doing well and you honour them through awards of this nature, that will create some kind of competition and will propel others to do more so that they can be recognized at some other time in the future.
”We can’t perform here in the best manner possible, without your contribution to what we are doing. And you are contributing in a very robust way to what we do here, making us as partners in progress for the good of Nigeria and Nigerians .
”So our relationship with you is sine qua non to our success. We can never succeed without you because without you reporting what happens here , Nigerians can’t know what we are doing,“ he said .
Earlier, the Chairman of the Corps, James Itodo, told the DSP that the honour is strictly on performance as contained in the records and not for any other thing.
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