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Buhari’s Govt Ready To Grow Nigeria’s Economy, Osinbajo Affirms
The Vice President, Prof Yemi Osinbajo has said that President Muhammadu Buhari-led government was ready to grow Nigeria’s economy.
He said this, yesterday, during a webinar with some French business leaders under the auspices of the Franco-Nigeria Chamber of Commerce and Industry.
Osinbajo said that a major feature of Nigeria’s economic response to the Covid-19 pandemic as indicated in the Economic Sustainability Plan, has been the openness to new and creative ideas.
This, according to him, is all in a bid to save jobs, protect businesses, and attract new investments.
The Vice President noted that part of what the Buhari administration had done in its response to the pandemic was to “build a business environment that will be supportive of domestic and foreign investors.”
“It is important to recognize that the pandemic, which really is the cause of the downturn, not just in the Nigerian economy, but practically all of our economies, all over the world, except perhaps China, also provides incredible opportunities for doing all manner of very innovative, and creative things.
“And I think that we are in a season where we are ready to experiment and ready to do a lot more. And if you look at our Economic Sustainability Plan, which is our response to the pandemic, what we tried to do was to do a few things that we thought would be game-changing.”
Continuing, he said, “for example, one of the important things that we are trying to do with respect to renewable energy is with solar power. We are collaborating with several solar power companies to provide, within the next 12 months, five million Nigerian households with solar home systems.
“This is partly to address the issues with the national grid by providing more off-grid capacity and provide more opportunities in the renewable energy space. What we are doing is to get the financing through the Central Bank of Nigeria as part of the Economic Sustainability Plan.”
Speaking on the issue of backward integration and citing the example of Fan Milk Plc, Osinbajo said private sector commitment need to align with the Federal Government’s backward integration policy.
“I am glad to hear that you are already doing 1.5million litres of milk in Ogun State,” Osinbajo noted, adding, however, that there is still a lot more to be done.
“For us, the issue of backward integration is right, front and centre, and it has been so for many years. We believe that aggressive pursuit of it is really important for us as an economic policy.
“And the most important thing, as I said, is that we are committed to backward integration. Unfortunately, over the years, many companies have committed to backward integration but have simply not been as diligent and faithful with those promises.
”So, we really want to see the much greater commitment and a plan that is as aggressive as our own aspirations.”
Participants at the forum include, Minister of Industry, Trade and Investment, Otunba Niyi Adebayo; the Executive Secretary and CEO of Nigerian Investment Promotion Commission (NIPC), Mrs Yewande Sadiku; the French Ambassador to Nigeria, Mr Jérôme Pasquier; Chairman of the Board of the Franco-Nigeria Chamber of Commerce and Industry, Mr Usman Mohammed, representatives of some French companies operating in Nigeria, including Total Nigeria, Air France, Kwik Delivery, among others.
The 2025 annual general meeting (AGM) and conference of the Rivers/Bayelsa states chapter of the Manufacturers Association of Nigeria (MAN) has come to a close with a strong call for both states to drive the blue economy.
The communique just issued after the AGM pointed to what it called emerging prospects in fish processing, seaweed cultivation, ship repair, and marine technology.
The communique which also mentioned human capital gaps that must be filled through technical and vocational training that are aligned with modern industrial needs, said the blue economy represents a viable pathway for Nigeria’s industrialisation.
It said MAN and Arican Marine Environment Sustainability Initiative (AFMESI) have the capacity to unlock Nigeria’s blue economy sustainably and inclusively, but said the region required dedicated infrastructure upgrades, including roads, waterways, and power.
The communique was signed by Vincent Okuku (Chairman of Rivers/Bayelsa States Branch); Michael Nosa Agana (Branch Vice Chairman/Chairman AGM planning Committee); and Chibuzor Eze (Executive Secretary, Rivers/Bayelsa States Branch).
The resolutions said the future of the Niger Delta economy lies in diversification rather than dependence on extractive industries. “Technology and innovation, value addition and local processing, strategic infrastructure, and a skilled workforce are essential pillars for the future of manufacturing in the region.
“Governments in the region must intensify support for manufacturing activities. Various forms of collaboration across sectors should be actively encouraged.”
It specifically advised Bayelsa and Rivers States to fully develop and harness the blue economy as strategic gateways for sustainable growth; and called for cross-border partnerships with neighbouring states to enhance trade, security, and environmental management.”
The Rivers/Bayelsa States branch of MAN held its first (41st) AGM outside Port Harcourt for the first time, hosted by Bayelsa State Government at the Chief D.S.P. Alamieyeseigha Memorial Banquet Hall, with the theme: ‘Trade, Technology, and the Future of Manufacturing in the Niger Delta.’
In his welcome address, the chairman of the branch, Okuku, commended the Bayelsa State Government under the leadership of Gov Douye Diri for its efforts in industrial development, investment promotion, and strong partnership with the private sector.
He also acknowledged the Rivers State Government for its commitment to rehabilitating industrial clusters, improving access roads, and delivering key infrastructure.
He, however, expressed concern over persistent challenges such as high energy costs, unreliable electricity supply, weak transport systems, rising logistics expenses, multiple taxes and levies, inconsistent regulatory frameworks, and pressure from host communities, which continue to hinder manufacturing growth in both states.
The President of MAN, Francis Meshioye, noted that the Niger Delta, with its abundant resources and strategic location, holds vast potential for industrial expansion. He called for policy frameworks that promote local manufacturing, enhance trade, and attract investments to the region.
Goodwill messages were delivered by the Minister of the Federal Ministry of Regional Development, Abubakar Momoh, represented by Wasa Festus, Director of Community Development and Education. Another goodwill message was also presented by the Bayelsa State Commissioner for Trade, Industry and Investment, Ebieri Jones.
In his remarks, Gov Diri praised MAN for its contributions to Nigeria’s manufacturing sector, noting its resilience, innovation, and strategic role in national development. He stated that the conference theme aligns with his administration’s mantra of “Assured Prosperity.”
Gov Diri offered 24-hour service to manufacturers wishing to relocate to the state, and highlighted the State’s ongoing transformation through deliberate investment in infrastructure, security, and human capital aimed at positioning Bayelsa State as a hub for industrial growth, particularly in the blue economy, agriculture, and manufacturing.
He further noted that hosting the 41st AGM fulfilled a long-desired aspiration of the State following the successful 2024 MAN event in Port Harcourt, Rivers State. He officially declared the exhibition open.
The Nigerian Education Loan Fund has alerted the public to a fraudulent message circulating online, claiming that the NELFUND Student Loan Registration Portal is open.
The message directs applicants to a third-party link (http://gvly.xyz/Nelfund-Student-Loan, which NELFUND confirms is unauthorised and fraudulent.
In a post obtained from its X handle, yesterday, NELFUND urged students and the general public not to click on the link or provide any personal information, emphasising that the official loan registration portal is only accessible through the Fund’s verified channels.
The agency reminded applicants to exercise caution online and to report any suspicious links or communications claiming to be from NELFUND.
“Applicants are encouraged to always verify official announcements via NELFUND’s official website and social media channels,” NELFUND said.
This advisory comes as part of NELFUND’s ongoing efforts to safeguard students and ensure the integrity of the student loan application process.
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