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Recession: Senate Concludes Debate On Way Out

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Having concluded the two-day debates on the way out of the nation’s ailing economy of the Nigerian Senate recently constituted a six man ad hoc committee headed by Senator Abdulahi Yahaya to harmonise the strategies raised during the debate by the lawmakers
The committee is to also make concrete recommendations to President Mohammadu Buhari on how to get the economy out of the woods.
In his remarks at the end of the debate , the President of the Senate ; Senator Bukola Saraki commended the Senators for being extremely non political .
Saraki said that was the reason the lawmakers were able to capture the real essence of the exercise and made such far reaching recommendations having been able to intelligently unravel fundamental causes of recession and the way out of it.
The Senate President listed other members of the committee. They include Ben Bruce, John Enoh, Hassan Mohammed, Barau Jibril and Rafiu Ibrahim.
According to Saraki the recommendations of the six man ad hoc committee would be adopted by the Senate thereafter for onward passage to President Buhari.
The emotion filled debate has so far recorded a lot of findings and strategies to end the current recession within a short time .
Many of the law maker are of the opinion that the Senate should from the basis of the debate prepare an Economic Stimulus Bill for President Buhari to sign into law.
Senator Ahmed Lawan and many others rejected the sale of National Assets to boost economy .
He pointed out that the last privatisation exercise should have taught Nigerians enough lessons.
Senator Chikwuka Utazi emphasised that while government should set the necessary policies, business should be private sector-driven for maximum profit but discouraged the sale of National Assets even those still doing well to businessmen who may monopolize the sector and still milk Nigerians dry.
Senator Utazi, however noted that no business or investment can thrive in Nigeria if it fails to fix its power problems .
He advised the Federal Government to prioritise electricity, pointing out that when power supply is achieved, the business environment would have a smile, foreign investments would accelerate along local industries.
and recession would be a thing of the past .
The call for investment in the agricultural sector was overwhelming with Senators calling for improved budgetary allocation to the sector.
Senators also stressed the need to review the Treasury Single Account policy of the federal government

 

Nneka Amaechi-Nnadi

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Victory Over Insurgency Certain, Tinubu Assures

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President Bola Tinubu has expressed confidence that the country would win the fight against insecurity.

The President gave the assurance at the Argungu International Fishing Festival in Argungu town, Kebbi State, on Saturday.

He noted that the relative peace currently being enjoyed in Kebbi and neighbouring states was the result of sustained investments in security intelligence, coordination among security agencies, and community engagement.

Tinubu assured farmers and fishermen of sustained federal support to guarantee food security and safety across the country.

“The peace we are witnessing today is not accidental. It is the outcome of deliberate and sustained efforts. I assure you that the fight against banditry, insurgency, and insecurity will be won.

“Our farmers, fishermen, traders, and families will go about their lawful activities without fear,” he assured.

The President commended the organisers of the festival for sustaining the cultural event for decades, noting that it had endured for 83 years despite social and security challenges.

Describing the Argungu festival as a powerful symbol of unity, resilience, and peaceful coexistence, Tinubu stated that it reflects the richness of the country’s culture and the opportunities to harness its natural and human resources for national growth.

He said, “Today, this festival stands as a powerful symbol of unity, resilience, and peaceful coexistence among our people.

“It reflects the richness of our culture, the strength of our traditions, and the opportunities inherent in harnessing our natural and human resources for national development.”

The President was received by a large crowd of residents, traditional rulers, fishermen, tourists, and government officials from across the country.

The President reaffirmed his administration’s commitment to youth and women empowerment, irrigation development, rural electrification, and agricultural productivity.

Earlier, the Kebbi State Governor, Nasir Idris, said his administration was determined to elevate the Argungu Fishing Festival to full international standards while pursuing aggressive development across critical sectors of the state.

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US Embassy, Lagos Consulate Close Today For President’s Day

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The United States Embassy in Abuja and the Consulate General in Lagos will be closed today, in observance of Presidents’ Day.

The mission made this known in a notice shared on its official X page, yesterday.

“The U.S. Embassy in Abuja and the Consulate General in Lagos will be closed on Monday, February 16, 2026, in observance of Presidents’ Day,” the post read.

According to the embassy, Presidents’ Day was originally established to honour the birthday of the former US President, George Washington, but has evolved into a day to celebrate all U.S. presidents and their leadership in shaping the country’s history.

The embassy noted that the holiday also recognises the influence of U.S. presidents on global affairs.

In a related message, the mission highlighted that Washington created the first “Badge of Military Merit,” which later became the Purple Heart. The medal still bears Washington’s image today.

Presidents’ Day is observed on the third Monday of February annually in the United States as a federal holiday.

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Guterres Backs Nigeria’s Bid For UN Security Council Seat …Hails Tinubu’s Reforms, Regional Security Role

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United Nations Secretary-General, António Guterres, has charged Nigeria with spearheading Africa’s quest for a restructured global order, describing the country as uniquely positioned to lead the continent toward superpower status.

Guterres, who backed Nigeria’s bid for the world body’s security council seat, also praised the economic reforms of the President Bola Tinubu-led administration as well as Nigeria’s leadership in stabilising the Sahel and ECOWAS regions, despite facing its own security challenges.

The UN scribe made the remarks last Friday night during a high-level bilateral meeting with Vice President Kashim Shettima on the sidelines of the 39th African Union (AU) Summit in Addis Ababa, Ethiopia.

Speaking during the meeting, Guterres said Nigeria’s large population, sustained democratic governance, vast natural and human resources, and longstanding commitment to multilateralism placed it in a unique position to lead Africa in the evolving global order.

“Given Nigeria’s demographic strength, democratic continuity and deep resource base, the country stands a real chance of leading Africa to becoming the next superpower in the evolving global architecture,” he said.

The UN Secretary-General and the vice president discussed key developments in Nigeria and the country’s expanding leadership role in promoting regional stability across West Africa and the Sahel.

Guterres commended the remarkable and outstanding reforms of the administration of President Tinubu, noting that Nigeria’s bold economic restructuring and security commitments have strengthened its continental standing.

The meeting focused on strengthening Nigeria–UN collaboration to advance global economic growth, peace and security, sustainable development, and a coordinated humanitarian response across Africa.

In his remarks, Shettima thanked the UN Secretary-General for his leadership in advancing global peace, noting that Africa has benefited immensely from his tenure, even as the United Nations undergoes internal restructuring.

“We remain committed to multilateralism and to deepening our partnerships with the United Nations and other global institutions,” the vice president said.

Shettima also reiterated Nigeria’s longstanding call for comprehensive reform of the United Nations system to reflect evolving global realities.

He emphasised that Africa must have stronger representation in global decision-making structures and declared that Nigeria deserves a permanent seat on the United Nations Security Council.

Both leaders pledged to deepen cooperation, with Guterres reaffirming the UN’s support for Nigeria’s reform agenda and its growing leadership role in advancing peace, security, and development across Africa.

 

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