Business
Confab Delegate Seeks State’s Solid Minerals Dev
A delegate representing
professional bodies at the National Conference, Dr Nelson Uwaga has called for the development of solid minerals available in each state to boost national development.
Uwaga, President, Nigeria Institute of Management (NIM), made the call during interview with newsmen in Abuja last Sunday.
He said that every state of the country had enough resources to sustain it and create jobs.
“Every state in this country is endowed with abundant natural resources, so why are we depending solely on oil?
“We need to develop these resources and we can only do this when we devolve power from the centre and develop the country economically’’, he said.
Uwaga advised the country to emulate Indonesia in the use of earnings from the oil sector to develop other sectors of the economy rather than sharing the revenue among states.
“Indonesia has oil but you never hear about it, because specifically, the oil is meant to developed industries. It is purely for development.
“I agree they have in their system that such weak states are supported and that is because we must be our brothers’ keepers.
“Beyond that, they don’t share their money the way we do here. They use it to set up industries and the result is that there are jobs, and the youths are working and they don’t have time to go for insurgency.’’
The delegate stressed the need to improve the country’s power supply to boost industrial development and employment generation.
He said, “If there is enough power supply in this country, the economic structure will change completely and people will work.
“Nigerians are the strongest people that I have ever met on this planet. They are bold, strong and innovative but need the right environment.’’
Uwaga said there was need for government to invest in education and ensure that every citizen acquired sound education.
“ We need the basic education to move on in life. We also need education that will create jobs and not education that will look for jobs.
“Whether we like it or not, we must make sure we invest money in education and forcefully ensure that everybody is educated.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.