‘Current Economic Policies Can’t Take Us Out Of Recession’
The Abuja Chamber of Commerce and Industry has said the current monetary and fiscal policies being implemented by the Federal Government will not take the country out of the current economic crisis.
It disagreed with the position of the Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, that the country would be out of recession in the fourth quarter of this year.
Emefiele had while speaking with media executives on Saturday said, “We are already in the valley, the only direction is to go up the hill and the government is doing everything possible to ensure that we move up the hill.
“I am optimistic that based on the actions being taken by the monetary and fiscal authorities, the fourth quarter results will show evidence that we have started to move out of the recession.
“The worst is over. The Nigerian economy is on the path of recovery and growth.”
But the ACCI argued that even with the right economic policies, it would take the country about five years to come out of the current economic crisis.
The President of ACCI, Mr Tony Ejinkeonye, in a statement, yesterday, said the chamber was of the view that the Federal Government had not put in place adequate measures to address the current economic challenges.
He said, “We have economic recession, economic recovery and economic boom. It takes a period of five years for a country to recover from recession before it can start talking of economic boom, that is, if the right measures are in place.
“We are yet to know the physical measures the government has put in place to enable us know that we are on the right track.
“Even when the right decisions and policies are set out, we do not agree that recovery will come too soon.
“That means they have only one quarter to get us out of the recession that is so deep. We do not believe that. It will take a while.”
He charged the government to open up to Nigerians on the real situation of things, adding that this is the only viable way for stakeholders in the economy to proffer workable solutions to the crisis.
He added, “Thailand went into recession and it was just last year they came out of it. The Federal Government is either being economic with the truth or not telling us what is really happening.
“Government does not have structures on ground to suggest that it would happen. I do not think it is going to happen.”
Wike, Promise Keeper – Eze Gbakagbaka
His Majesty, Eze Oha Evo III, King Leslie Nyebuchi Eke, has described the Rivers State Governor, Nyesom Ezenwo Wike, as an astute leader and a promise keeper.
Eze Eke stated this when he spoke with newsmen at the commissioning of Rumuigbo internal roads in Obio/Akpor Local Government Area, yesterday.
Governor Wike, he said, has so far proven that he has the interest of the state at heart, and expressed satisfaction over the Governor’s continuous project execution even towards the end of his administration.
According to him, the internal roads built by Governor Wike have opened the area to new trench of business and economic activities.
He noted that the community has now become a bee hive of business activities due to the roads.
The Evo King recalled how floods ravaged the area in recent times, but said such now belong to history due to Wike’s intervention.
On the recently commissioned phase one of the Trans-Kalabari Road, he said it has exposed the riverine communities to business activities as well.
He noted that the prices of commodities in the area will now stabilise as more business operators will be trooping into the place.
“The jinx of monopolistic operation is now broken. Everyone in the area will now be moved to do one business or the order. I think the Trans-Kalabari Road is one in million. Kudos to Governor Nyesom Ezenwo Wike”, he said.
He also called on the people to jettison all forms of rancour and acrimony and give the in-coming administration under the leadership of Sir Siminialayi Fubara the needed support in order to enable him execute more people-oriented projects like the out going governor.
The monarch, who supported the idea of ‘Consolidated Government’, revealed that it would bring about rapid development in the state.
“My thinking is that Consolidation is necessary. For instance, the beauty of governance in Lagos State is that they maintained one party over the years, which has addressed the issue of abandoned projects”, he said.
The Governor Nyesom Wike-led administration has executed more projects in the state than any other government with no record of abandoned project.
By: King Onunwor
Pensioners Demand Separate Ministry Under Tinubu’s Govt
Nigeria Union of Pensioners (NUP) has called on the President-elect, Sen. Bola Tinubu, to create a ministry that will be saddled solely with the responsibility of addressing the plights of retirees in the country.
The South-West zone of NUP made the call after its quarterly meeting in Abeokuta, yesterday.
The Tide source reports that the meeting was attended by chairmen and secretaries of NUP from Ogun, Oyo, Ondo, Osun, Lagos and Ekiti states.
Speaking with newsmen after the meeting, the Zonal Public Relations Officer of NUP in the zone, Olusegun Abatan, said that the creation of the ministry would turn the fortunes of pensioners around in the country.
Abatan called on Tinubu to do more for pensioners when he assumed office as president.
“President Muhammadu Buhari has done quite a lot for pensioners. He really helped them and so we are appealing to Tinubu to please give the matter of pensioners serious attention.
“We want a separate ministry that will be solely addressing matters that have to do with pensioners under the administration of Tinubu,” he said.
Abatan alleged that governors of South-West states were owing pensioners in the zone huge sums as gratuities and pensions.
He urged all the governors in the zone to implement the consequential adjustment and the 35 per cent increment in pensions without further delay.
Abatan particularly cited Ogun, Ekiti and Osun states where he claimed that the gratuities of pensioners were paid last in 2012.
“They are owing arrears of pensions, gratuities and other entitlements, including gratuities and entitlements to the next of kin of some deceased pensioners.
“We want to appeal to our governors to step up their interests in the affairs of pensioners,” he said.
We’ll Defend PDP’s Mandate Secured During The Election In Rivers -Wike
Rivers State governor, Chief Nyesom Wike, says the Peoples Democratic Party (PDP) in the State will defend the mandate that was been given to all of its candidates in the 2023 general election.
The governor noted that soon the various election tribunals will commence sitting where the mandate will be challenged, but the PDP will stand in defence of its candidates to ensure that the mandate is not stolen.
Governor Wike gave the assurance when he spoke at a luncheon organised to celebrate the PDP candidates who won their election and have been presented with their Certificates of Return by the Independent National Electoral Commission.
Those honoured with the luncheon at the Banquet Hall of Government House in Port Harcourt on Wednesday were the Governor-elect, Sir Siminialayi Fubara, Deputy Governor-elect, Prof. Ngozi Odu and other elected Representatives of Rivers State to the National and Rivers State House of Assembly.
Governor Wike pointed to the fierce political battle that was experienced during the general election and that if not for God, the victory that PDP is celebrating today would have eluded it.
The Rivers State governor told those who have been elected to the National Assembly to support every cause that promotes national unity, while placing the interest of the State paramount at all times.
He explained the importance of working in tandem with the State on any cause, whether it is suiting to them or not, but because it is expedient in advancing the interest of the State.
Governor Wike pointed to some Rivers leaders who went to Abuja and betrayed the interest of the state. He said they have become the greatest losers and fallen out of relevance in the State.
The governor also urged the elected representatives to trend with caution and never use their elevated positions to undermine or antagonise existing leadership structure in their various local government areas.
He told them not to abandon those who have contributed sundry efforts to ensure that their emergence at the polls was successful.
Governor Wike scolded Hon. Nwanaka Okpokiri, the member representing Ahoada West State constituency, for working against the success of the PDP in the last general election, but failed.
In his speech, Rivers State Chairman of PDP, Ambassador Desmond Akawor, said there is massive celebration across the State over the victory of the party in the last general election.
He noted as astute the leadership governor Wike provided in leading the party in a fierce electoral battle that has produced youngest governor-elect in Nigeria, Sir Siminalayi Fubara.
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