Business

Accountability: Economist Wants MTDP To Replace MTEF

Published

7 years ago

July 30, 2018

Dr Omo Aregbenyen of Department of Economics, University of Ibadan, has suggested that the Medium-Term Expenditure Framework (MTEF) be replaced with the Medium Term Development Plan (MTDP).
Aregbenyen gave the advice at a training and media presentation of an ‘Industrialisation Report’ by Friedrich Ebert Stiftung (FES) in Lagos.
The Tidesports source reports that Friedrich-Ebert-Stiftung (FES) is a German private, non-profit organisation committed to values of social democracy.
In 2016, it commissioned a study to examine past and existing socio-economic and political policies affecting the state of industrialisation in Nigeria.
Aregbenyen said unlike the MTEF that was just a micro-economic projection for a period, the MTDP allowed costs to be included in programmes and projects.
According to him, the MTEF does not make legislative arm of government to hold the executives accountable for uncompleted and abandoned projects.
Aregbenyen said under the MTEF, projects which ought to have been achieved in a particular period still found their ways into subsequent fiscal years.
He said that the advantages of MTDP was that it would take into cognisance the effects of cost of indicators such as crude oil price, inflation and exchange rates, among others, on governments’ plans before embarking on projects.
The economist also said that the MTDP would allow for review of projects to see if it was properly done or not completed and would find out the reasons they were so.
Aregbenyen also said that the MTDP would discourage recurrence of uncompleted projects in subsequent fiscal years.
He recalled the periods where Ministries, Departments and Agencies were mandated to be involved in MTEF process so that their size of revenue would be captured.
The economist said that the MTDP would only focus on priority in terms of projects and thereby give actual amount needed for such, while others would be embarked upon in the following years.
“This would help to prevent challenges of abandoned projects,” he said.
Aregbenyen said that laws should be enacted to commit government to policy continuity to boost investors’ confidence in the nation’s economic stability.
He said that government should provide a structured regime of incentives for manufacturing industries on a sector-specific basis and allow it to run its course under an institutionalised arrangement.
The economist said that infrastructure gaps, especially power and roads, should be bridged towards driving a virile industrialised economy.
According to him, about 18 industrial policies have been formulated from 1952 till date and the policies have failed to achieve the desired results of boosting manufacturing sector’s contribution to the Gross Domestic Product (GDP).

Business

NPA Assures On Staff Welfare

Published

3 days ago

June 27, 2025

The Tide

The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure and equipment modernization drive with the development of the welfare of its personnel.

Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the clearing of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.

A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying, “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.

The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.

“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”

Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.

“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.

Speaking on behalf of the joint maritime labour unions, the President of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”

Nkpemenyie Mcdominic, Lagos

Business

ANLCA Chieftain Emerges FELCBA’s VP

Published

3 days ago

June 27, 2025

The Tide

National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).

The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.

Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.

Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.

The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.

The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.

The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.

Nkpemenyie Mcdominic, Lagos

Business

NSC, Police Boost Partnership On Port Enforcement

Published

3 days ago

June 27, 2025

The Tide

In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).

The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.

Executive Secretary/Chief Executive Officer of NSC, Dr. Pius Akutah, made this known during a visit to the Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.

The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.

Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.

He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.

“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.

Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.

The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.

“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.

Chinedu Wosu