Business
FRSC Boss Tasks Staff On Steadfastness
Mr Boboye Oyeyemi,
Corps Marshal, Federal Road Safety Commission(FRSC) has tasked the entire workforce of the commission on steadfastness in pursuance of its operational goals in the New Year.
This checks contained in a statement signed by Mr Bisi Kazeem, the Head, Media Relations and Strategy, made available to newsmen in Abuja, recently.
According to the statement, Oyeyemi in his New Year message, expressed gratitude to God for the successes recorded last year by the commission, and expressed commitment to improve on the achievements in 2016.
“Oyeyemi admonished staff not to rest on their oars, saying 2016 will come with its own peculiar challenges which they must be prepared to overcome in their determination to create a safer road environment.
He noted that several lives that could have perished in road crashes were saved through vigilance and commitment of members of the commission, saying such individuals would forever remain grateful to the FRSC.
“To be victorious, you must continue to adhere to the processes and procedures of the Corps in all areas of operations and general administration.
“The corps marshal expressed his appreciation to the entire FRSC staff for their steadfastness and dedication to duty, especially at odd hours of the day, urging them to keep it up,” Kazeem said.
On FRSC’s plans for renewal of its International Standard Organisation (ISO) certification, Oyeyemi said it was only through sustained commitment to the core values of the commission.
“It is only through sustained commitment to the core values of FRSC that the attainment of the Quality Management System Certification (ISO 9001:2008) can be achieved in March 2016,” he said.
He called on the staff to continue to promote hard work and dedication to duty in line with the “world class organisation’s status of the commission’’.
Oyeyemi added that the certification could only be retained through sustained adherence to the global best practice of road safety management.
Oyeyemi assured FRSC staff on sustainment of welfare policies of the commission in the New Year of 2016, urging them to be more dedicated to duty at all times.
The Tide recalls that FRSC management recently promoted its officers at various cadres to boost their morale while it had reiterated its readiness to punish erring officers.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.