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Tinubu working to move Nigerians out of poverty – Finance Minister
Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun says President Bola Tinubu is charting a way to move a lot of Nigerians out of poverty.
He stated this in Bauchi on Monday, during the opening ceremony of the 2024 National Council on Finance and Economic Development (NACOFED)’s conference.
Edun said that the president is leaving no stone unturned in order to ensure that life is made easy for Nigerians by coming up with policies and programmes that would be beneficial to all.
“President Tinubu’s administration inherited assets and liabilities and there is no looking back but it’s a question of charting a way of looking forward and making plans in order to first of all stabilise the economy.
“He is working hard to get investments through private sector investors both domestically and foreign direct investors to increase the productivity of Nigeria, grow the economy, create jobs and of course move a large number of people out of poverty.
“When you try to look at where we are now, essentially, the major macro economic reforms are in place.
“He has stopped the bleeding that was costing five per cent of the GDP of the country every year that was adding no value except to a few people and neighbouring countries that were benefiting from what was happening with the fuel subsidy and as well, a related foreign exchange subsidy.
“The benefits were saved for just a few and a mass of Nigerians were not getting any benefits from those structures.
“They have been removed and the federation account will benefit from increased flow of resources to the federal, states and local governments and so much more can be done in terms of investing not just in infrastructure but in social services like education and health,” he said.
The Minister assured Nigerians that the road was clear for private sector investors and that the country was back in the business on the road to industrialisation based on what is happening in the petroleum refining sector.
He said that crude oil was not just being shipped abroad but being refined locally to give petroleum products and raw materials for industry.
The minister urged all Nigerians to be encouraged that the country now had a more stable, sustainable macro economic environment that was friendly to investors.
This, he said, would make it possible not only for them to produce competitively for the domestic market but also to export.
He appreciated all the organisers of the conference for all the efforts put in place to make the consequence a reality and also thanked Gov. Bala Mohammed for his hospitality and warm welcome to all the delegates that turned up at the conference.
Also, the Bauchi state governor said that hosting the event was a privilege and had proven the importance of collaboration in addressing the economic challenges and opportunities before the country.
He said that the state government spared no efforts to ensure that the event surpasses expectations.
“Your presence is a testament to your commitment to advancing Nigeria’s financial and economic landscape.
“I urge all the participants to contribute constructively to the benefit of all Nigerians,” he advised.
The News Agency of Nigeria (NAN) reports that the theme of the conference is: “Fostering Economic Growth in Challenging Times: Strategies for Policies and Partnership for Fiscal Sustainability & National Development.”
(NAN)
By Tambaya Julius, Abuja
In a powerful display of compassion and community spirit, Honourable Larai Sylvia Ishaku, Executive Chairperson of Jaba Local Government Area (LGA) in Kaduna State, spearheaded the distribution of rice to residents across all 10 electoral wards for Easter Celebration.
The well-organised event took place at the H.R.H Danladi Gyet Maude Secretariat at Kwoi, where crowds of grateful beneficiaries gathered to receive vital support from Hon. Laria Sylvia Ishaku.
Also in attendance were Hon. Mustapha Danladi Babaladi, the Executive Vice Chairman of Jaba LGA, and Comrade Abashiya Sahjury, Chief of Staff to Hon. Laria and other key political Leaders, which demonstrate strong leadership presence and a united front in delivering relief to the people.
The rice distribution reached a broad section of society, including former unit executives, recent political decampers, market women and traders, healthcare personnel, Okada riders (commercial motorcyclists), people living with disabilities, security personnel, and representatives from religious and community-based organisations such as the Christian Association of Nigeria (CAN) and others.
During her speech, Hon. Larai Sylvia Ishaku reaffirmed that the initiative was part of the broader support structure provided by Governor Uba Sani and All Progressives Congress (APC) for the people of Jaba LGA in Kaduna State.
She emphasised that her administration’s intention is to continue delivering practical benefits and genuine support to the masses (grassroots). “We are committed to ensuring every resident of Jaba LGA experiences the dividends of good governance. By the end of 2026 and beyond, no one will be left out,” she assured.
“Easter symbolises love, sacrifice and the joy of giving, such effort is a way of saying thank to you people while fostering peace and unity within our communities in Jaba LGA.”
Addressing the political atmosphere, Hon. Ishaku urged residents to stay vigilant and not fall prey to deceptive political tactics. “Be cautious of those who seek to mislead you for selfish political gain. Where were they when they held power? They forgot you,” she declared boldly.
In appreciation for the gesture, One of the beneficiary, Mr. Dennis Iliya, expressed deep thanks on behalf of the beneficiaries. “We thank the APC government for standing by the people of Jaba. May the Lord Almighty reward the kindness shown by Governor Sani and Hon. Larai Sylvia Ishaku. Their kindness has brought relief during these difficult times. May God continue to bless them and the APC leadership,” he stated joyfully.
Joseph Tegbe, director-general (DG) of the Nigeria-China Strategic Partnership (NCSP), says Nigeria will soon sign a deal on ‘Digital RMB’ with China to enable a direct conversion of naira to Chinese Yuan.
The digital renminbi (RMB) is a central bank digital currency issued by China’s central bank, the People’s Bank of China.
Speaking at the digital asset markets strategy masterclass series held recently in Lagos, Tegbe said the agreement is expected to reduce Nigeria’s dependence on the United States dollar.
He described the pact as a major step in Nigeria’s transition from a trade relationship with China to a mutually-beneficial development partnership.
The NCSP DG also said Nigeria has secured over $30 billion in investment commitments and 300 expressions of interest from Chinese companies within the last five months.
Tegbe also noted the importance of leveraging Chinese technology, particularly in the digital asset market and knowledge transfer, adding that the NCSP remains committed to supporting the globalisation of Nigeria’s capital market.
The director-general outlined the objectives of the partnership, which include driving infrastructure development, scaling up Chinese investments, strengthening trade and economic ties, promoting transparency, and advancing cultural exchange between both countries.
Also speaking at the event, Babajide Sanwo-Olu, governor of Lagos, said the state is developing a securitisation policy to monetise idle assets and raise green bonds to fund infrastructure needs.
Sanwo-Olu, who was represented by Abayomi Oluyomi, the commissioner for finance, said Lagos will become the first sub-national in the country to implement such a policy.
In his remarks, Nicholas Okoye, convener of the masterclass and a global investment advisor, said the digital transformation ushered in by the fourth industrial revolution has impacted all sectors and will open new frontiers of wealth for investors, institutions, nations, and sub-nationals.
“The most strategic ecosystem of this digital transformation has got to be ‘Digital Asset Markets’, which includes investment in cryptocurrencies as well as the tokenisation (digitisation) of traditional asset classes,” Okoye said.
“The proposed full adoption of ‘Digital Asset Markets’ in Nigeria’s capital markets and subsequently across Africa is going to be a game changer for wealth creation and economic growth sustainability.
“In addition, it will completely redefine the future of African finance, investment and capital market industries.”
Okoye said the digital assets present a unique opportunity for Africans to build wealth regardless of location or profession, providing for the first time, an accurate reflection of Nigeria and Africa’s true wealth position.
By Nahum Sule, Jalingo
Making the event that marked the Nigeria Union of Journalists at 70, the Taraba State chapter of the NUJ Honour chief David Sabo Kente as the philanthropist man of the year
The award presentation was held in Jalingo, the state capital, at the grand finale of the NUJ Press Week celebration.
Speaking at the ceremony, the state chairman of NUJ, Mr Eliud Jen, noted that the awards were carefully chosen base on concrete evidence of performance in various categories and meant to spur the awardees to do more.
Chief Kente, who was the governorship aspirants of the All Progressives Congress APC, in 2023, has used his foundation, The DSK foundation, to help thousands of Taraban through scholarship, Small Medium Enterprises and lot more.
While congratulating the union for attaining 70 years, Kente called on government investors and everyone to give the union a support hand to enable its members to continue discharging their duties effectively.
Others who were awarded for outstanding performance are His Excellency Dr, Agbu Kefas the governor of Taraba State, Alhaji Yakubu Jafaru Chiroma, member representing Bali/Gassol Federal constituency, Dr Aisha Adamu, the CMD of Federal Medical Centre Jalingo, Hon. Aminu Hassan, ALGON chairman in the State, Professor Joseph Albasu Kunini, former Speaker of Taraba State and Professor Sunday Bako, Vice Chancellor Taraba State University Jalingo, the state Commissioner of Women Affairs and Child Development Mrs Mary Sinjen, Commandant 6 Brigade Jalingo Gen. Kinsley Uwa and several others were also given recognition as friends of the press.
Kente further appreciated journalists for finding him worthy to be honour, emphasizing that the award will spur him to do more.