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FG Pledges Bold Reforms To Revive, Sustain Economy

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The Federal Government has promised to implement daring reforms that would revive and sustain economic growth and development in the country.
The Minister of Finance, Mrs Kemi Adeosun, made the promise in Abuja yesterday at the launch of the International Monetary Fund’s Regional Economic Outlook report on Sub-Saharan Africa.
According to IMF report, Nigeria’s real GDP is expected to grow at 0.8 per cent in 2017 and 1.9 per cent by 2018.
The reports further said inflation would remain elevated at 17.5 per cent and fiscal deficit to deteriorate to 5 per cent of GDP in 2017.
It also said GDP was projected to go from 19 per cent in 2016 to 20.1 per cent in 2017 and 20.4 per cent in 2018.
According to it, imports is expected to reduce from 13.8 per cent of GDP in 2017 to 12.4 per cent in 2018 and trade balance to improve by 1.5 per cent of GDP.
IMF, however, said the growth projection was hinged on adequate implementation of policy actions such as the Federal Government’s Economic Recovery and Growth Plan (ERGP).
Adeosun said that government was pursuing necessary reforms in areas of economic diversification, structural transformation, fiscal consolidation, public finance management and macro stability.
“Nigeria was one of the countries hardest hit by the commodity price decline.
“We have tried to mitigate these pressures through series of interventions, such as growing of the non-oil sector base through increased efficiency of tax and customs collections.
“We have also reduced cost of doing business, increased support for agriculture, infrastructure and manufacturing as well as reflating the economy through fiscal support to sub-nationals among several other measures.
“The security situation has improved considerably and investors’ confidence is on the increase. It is heartwarming to say that Nigeria will be out of recession soon,’’ she said.
Adeosun further said that the lessons derivable from the report was that, it was time sub-saharan countries take seriously the issue of exporting raw commodities with little or no value added.
She tasked all 45 sub-saharan countries to implement reforms that would boost local production, help create jobs and achieve sustainable growth.
Also, the Director, Monetary Policy Department, Central Bank of Nigeria, Mr Moses Tule, said a comprehensive and coordinated implementation of the Economic Recovery and Growth Plan were vital to the growth of the economy.
He, however advised against delayed policy response, uncoordinated implementation of ERGP and other economic reforms, in order not to hurt the growth projected for Nigeria in the Regional Economic Outlook report.
“Resolution of the Niger Delta crisis is expected to make headroom for higher oil exports, thus improving the fiscal space.
Also, the current forex reforms are expected to further improve, following improved terms of trade with higher oil exports and increased substitution with local production.
“The successful issuance of the last Eurobond is fast restoring confidence in our economy as evident in the recent Sovereign Bond Issuance offshore,’’ he said.
Also, the Director of the IMF’s African Department, Mr Abebe Selassie, said the delay in implementing much needed adjustment policies was responsible for creating uncertainty in economies.
He also said the overall weak outlook for the region partly reflected insufficient policy adjustment, holding back investments and generating risks, particularly in oil exporting countries like Angola and Nigeria.
Selassie, who cited the region’s modest growth recovery from 1.4 percent in 2016 to 2.6 percent in 2017, noted that this would barely put sub-Saharan Africa back on a path of rising per capita income.
“The uptick will be largely driven by one-off factor in the three largest countries; that is a recovery in oil production in Nigeria, higher public spending in Angola and fading of drought effects in South Africa.
“ But for other countries, the outlook remains shrouded in substantial uncertainties, including possible further appreciation of the U.S. dollar and tightening of global financing conditions, especially for countries where fundamentals have deteriorated.
“ On top of that, the outlook is further clouded by security issues that have contributed to an increase in food insecurity and even famine in parts of sub-Saharan Africa.
Selassie stressed the urgent need to ensure macroeconomic stability, complemented with structural reforms to support rebalancing and policies to strengthen social protection for the most vulnerable in the region.
He, however, reiterated that sub-Saharan Africa remained a region with tremendous potential for growth in the medium term, provided strong domestic policy measures were implemented.

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Kenyan Runners Dominate Berlin Marathons

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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