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FG Recommits To Bringing Down Inflation, Improving Economy
The Federal Government has said that despite the fact that the economy has moved in the right trajectory for some time now on a consistent basis, its impact on the lives of the people is yet to fully manifest.
It, therefore, assured Nigerians that concerted efforts were being made to ensure that the inflation rate, which has been on a downward trend, was brought lower as government continued to work on ways of reviving the economy.
The Minister of State for Budget and National Planning, Mr. Clement Agba, gave the assurance while briefing State House correspondents at the end of the virtual Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at Council Chamber, Presidential Villa, Abuja.
The minister said he briefed the council on the latest performance figures released by the National Bureau of Statistics (NBS).
He said the economy was making a lot of progress, given its consistent good performance in recent time, noting, however, that whether the positive indicators had had the desired impact was another matter.
Citing the National Development Plan 2021-2025, he said work on reviving the economy was a continuous process, even as he said he could not provide definite time line to reduce the inflation to the level that would positively impact all Nigerians.
The minister, who was fielding questions from journalists, said: “First, you say the figures that were given show that there is a positive trajectory in terms of the economy. I think first we need to understand what GDP itself means. It’s the totality of the value of goods and services, it’s an indication of what is happening in the economy, when you are having more to spend, more transactions are going on.
“It means that the economy itself is growing and if it is declining, and you have such negative decline in two quarters, then we will say you are in a recession.
“NBS has consistently given these figures, whether they are positive, or they are negative, and then we compare them either on month on month basis, or year on year basis.
“Then we also have what those figures are annually, which tend to show us or indicate whether we are making progress or not.
“What those numbers show is that there’s a steady progress that is being made. Whether it is far reaching enough, is a different ball game.
“That’s why you see in the National Development Plan 2021 to 2025, we are looking for a growth rate of an average of 5percent. We haven’t gotten there yet but it is beginning to move towards that trajectory.
“So, please bear with us. We’ll do the best we can to minimize the inconvenience. When the road is finished, be sure that the current inconvenience would have been well worth the wait and the experience.
The minister said FEC approved contract awards worth about N58billion for projects under the ministry of works and housing and the ministry of humanitarian affairs, social development and disaster management.
He said his ministry had an approval for the termination and re-award of the 49kilometres section of Abaji to Kotokarfi road, which is part of the Abuja-Lokoja highway, to Messrs Galt for N56.175billion.
He further said FEC also approved the revision of the contract of the Afo-Apoto-Oyo boundary road in Kwara by the sum of N251,530,000,which revised the contract sum from N3,060,000,000 to N3,311,000,000.
The Organised Labour yesterday, called on the Federal Government to ensure inclusiveness in policy making and guide against erosion of rights, such as free speech and association.
The President, Nigeria Labour Congress (NLC), Mr Joe Ajaero made the call at the 2025 Workers’ Day celebration held at the Eagle’s Square, Abuja.
The Tide source reports Ajaero and the President, Trade Union Congress, Mr Festus Osifo delivered a joint statement on behalf of the organised labour at the event.
Ajaero described May Day as, not only a moment to honour workers’ sacrifices, but also a platform to demand justice and accountability from those in public office.
He frowned at the alleged suppression of protests, and the erosion of rights of workers by some agents
According to him, workers have a duty to resist economic injustice, insecurity, and policies that undermine their dignity.
Speaking on the theme of the day, the NLC President underscored the need for Nigerian workers to reclaim the civic space and resist policies that contribute to worsening economic conditions.
“Our theme this year – “Reclaiming the Civic Space in the midst of Economic Hardship – reflects the urgent need for citizens to protect democracy and push back against repression.
“The civic space, where Nigerians express their concerns and challenge injustices is shrinking.
“If we fail to reclaim this space, the foundation of our democracy risks collapse,” he said
Ajaero, therefore, urged workers to unite and resist division, fear, and despair.
He also urged them to mobilise and organise for change, declaring that the right to demand better conditions is non-negotiable.
“Without workers, there is no society; without labour, there is no development. We must take our place in the fight for economic justice and democratic governance.”
Speaking in the same veins, Osifo said workers are the backbone of the nation—the educators, healthcare providers, builders, farmers, and innovators who sustain its economy -.
He stressed the need for the labour to reclaim the civic space even in the midst of economic hardship.
The Joint Admissions and Matriculation Board (JAMB) has disassociated itself from a fraudulent site requesting payments from candidates who missed the ongoing 2025 Unified Tertiary Matriculation Examination (UTME).
The board said that the site, “Copyrightwriter Personal J Rescheduling Flw” and account number 8520641017 at Sterling Bank, associated with it, are scam.
The disclaimer is contained in a statement made available to newsmen in Abuja on Thursday by the Board’s Public Communication Advisor, Dr Fabian Benjamin.
Benjamin said the account is being exploited to defraud unsuspecting candidates who missed their UTME.
“We issue this urgent notice to inform the public about this nefarious scheme targeting candidates who were unable to participate in the UTME.
“Some unscrupulous individuals are deceitfully soliciting payments of N15,700 under the false pretence of offering rescheduling services for the examination.
“Let us be unequivocal: this, it is a blatant scam, and we are confident that the public will not fall prey to such cheap and regressive tactics.
” The individuals behind this scam have no affiliation with JAMB or any legitimate government agency.
“The account details provided in these communications are entirely fictitious and bear no connection to any official processes; they exist solely for the purpose of perpetrating fraud,” he said.
Benjamin called on Sterling bank to take immediate and decisive action against this criminal activity.
According to him, JAMB has reported the matter to the relevant security agencies and actively pursuing those responsible for this deceitful act.
He further said that “JAMB does not reschedule examinations for candidates who miss their scheduled tests due to reasons unrelated to the Board’s actions”.
He, however, said that the Board is conducting a thorough investigation for candidates whose biometrics failed during verification and were thus unable to sit for the examination.
He said those without discrepancies would be invited to retake the examination at no cost , stressing that “no cost is required”
“It is imperative to understand that JAMB does not charge any fees for examinations after a candidate has completed their registration.
“We strongly urge all candidates to remain vigilant and not to succumb to these fraudulent schemes.
“Protect yourselves and report any suspicious activity immediately,” he explained.
The Niger Delta Development Commission (NDDC) has expressed its willingness to partner with the United Nations (UN) to accelerate the development of the Niger Delta region.
Dr Samual Ogbuku, Managing Director of the NDDC, made the appeal in a statement issued by the commission’s Director of Corporate Affairs, Mrs Seledi Thompson-Wakama, in Port Harcourt on yesterday.
According to the statement, Ogbuku sought the UN’s support during his visit to the UN Resident and Humanitarian Coordinator (UNRHC), Mr Mohammed Fall, at the UN regional office in Abuja.
He called on the global body to provide the NDDC with technical assistance and expert services to support the region’s development.
“We are eager to collaborate with the UN, recognising that the state governments in the region and the NDDC alone cannot achieve the level of regional development required,” he said.
Ogbuku identified key areas where support would be needed, including the provision of portable and affordable drinking water powered by high-tech solar energy sources.
He also highlighted the importance of reforesting the mangrove swamps, which have been severely damaged by decades of environmental degradation caused by oil exploration in the Niger Delta.
“Although the NDDC has made progress in providing solar-powered streetlights across the region, we still require UN support in delivering solar energy solutions for residential buildings.
“We also wish to explore the possibility of installing solar mini-grids in homes across communities, which would boost local commerce and trade,” he added.
The NDDC managing director further appealed for increased UN involvement in areas such as healthcare, education, youth training, gender development, and food security.
Ogunku stated that such interventions would significantly enhance the standard of living in the region.
In response, Fall affirmed the UN’s readiness to collaborate with the NDDC to fast track development in the Niger Delta.
He assured that the UN would support initiatives in food security, job creation, education, and renewable energy, among other areas.
“We aim to approach development in the Niger Delta holistically, rather than focusing solely on environmental pollution.
“This is merely an entry point; however, the UN’s development vision aligns with the Sustainable Development Goals (SDGs), which are designed to positively impact various aspects of people’s lives,” Fall stated.
He assured the NDDC of continued and fruitful engagements to drive the region’s development.