Business
Recession: CMD Advises MDAs On Prudent Spending
Director-General of Centre for Management Development (CMD), Dr Kabir Usman, has advised Ministries, Departments and Agencies (MDAs) to apply prudent spending, especially in this period of economic recession. Usman gave the advice at the News Agency of Nigeria (NAN) Forum in Abuja.
”Typical example is the attitudinal change, the change of attitudes, business is no longer as usual, what we used to get we’ll never get the same, so we really have to manage what we have with prudence.
”Then the other aspect is the concept of savings, the cost cutting, because you used to get this money and spend, doesn’t mean that life will go on as usual.
”We give them ideas on public private partnership, issues about joint ventures and issues in terms of loan, borrowing to make sure there is value for money, not all the MDAs, relevant MDAs.
”If you look at it, there are about 10 key areas that Nigeria can do to get out of recession.
”Certainly, this 2017 budget gives us a leeway to try to do training assessment and impact assessment so that we can see the value for money and value addition for the training.’’
He said that the Federal Government had a responsibility to make sure that policy makers, implementers, analysts and reviewers were much apt in terms of key element that would bring Nigeria out of recession.
The director-general said that the centre had trained some officers of Planning, Research and Statistics from selected MDAs on how to manage their resources.
He said that the training was very clear about the concept of how Nigeria could come out of recession soon or rather than later.
Commenting on the 2017 budget, Usman said there were a lot of discussion going on about what the benchmarks should be, saying that it was about middle ground, between the executive and the legislature.
He said that looking at the projections in terms of executive function, based on projection, the price of oil was not going to reduce but it would not be a radical change but a gradual.
The director-general said the benchmarks in the budget would be realistic since the revenue was not going to be on oil. ”So, it may not necessary matter much because the emphasis is not going to be on oil but the emphasis is on taxes.
”And that is where we can generate revenue and focus on the area of agriculture and focus on the area of manufacturing and so on and so forth. ”We listen to government policy every now and then and that is why we have to tailor this year our training programme to focus on areas of government needs, monitoring and evaluation.
” Areas in term of agriculture, all the supply and value chain of agriculture and focus in terms of the manufacturing sector.
”If you look at the economy, you can see that usually you start from agriculture and then you go into manufacturing, then you go into services, but Nigeria got it wrong.
”From agriculture, we went into service and now we are struggling because we don’t have jobs while we became consumer country rather than producer.
” We don’t consume what we produce, that is why it is very difficult to look at the benchmark price.
”I am sure that is not what is important. What is important is the peace in the Niger-Delta to make sure that at least two million barrels is achieved in a very sustainable way.
”That will keep the economy going and the priority of government is to not fund the 2017 budget through the oil sector but taxation and I think, it is a right direction for all of us and it is responsibility of all of us not to depend on oil.’’
The Tide gathered that the 2017 Budget proposal of N7.30 trillion is before the National Assembly for consideration.
The Federal Government set a benchmark of 42.5 dollars per barrel and a production estimate of 2.2 million barrels per day for the 2017 fiscal year.
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos