News
FG To Make Agric Economic Mainstay – Minister
The Chairman, Senate
Committee on Agriculture, Senator Abdullahi Adamu, has expressed confidence that the President Muhammadu Buhari administration will reposition the agric sector to become the mainstay of the nation’s economy.
Adamu (APC-Nasarawa West) made this known at the News Agency of Nigeria (NAN) Forum yesterday in Abuja.
“Now we have reasons to believe that the administration of President Muhammadu Buhari is serious; serious because the President has said it time and again, since campaigning for presidency and at his inauguration and recently at the presentation of the budget proposals.
“He, Buhari, has emphasised on getting agriculture back on track and we believe him.
“He is a man of honour, we believe as most Nigerians have testified, he is a man with integrity.
“He is a man of his words and from the budget proposal in front of the National Assembly, one has reason to believe that he is serious, he wants to do something in the agricultural sector.”
Adamu said the foundation would soon organise a stakeholders’ workshop with the objective to contribute to the enhancement of the agriculture sector.
The senator noted that certain steps were taken in the past that brought agriculture to enviable height but lamented that those steps had been abandonment.
He noted that unless care was taken the good intentions of the president for agriculture could be derailed.
“There are those who are always walking from behind the scene; they can easily derail the efforts and commitment of the current administration.
“And in order to ensure that we guard against the possibility of that happening, we believe that we need the views of stakeholders in the sector.
“We have contributions we can make to ensure that this practice of government after government, coming and organising seminars and going is different this time.
“We have enough materials that we can go and hit the ground running.”
He said the workshop was opened to stakeholders in the sector to contribute their quota to move agriculture forward.
He said that the workshop would come up between February 2 and February 3 at the Shehu Musa Yar’ Ádua Centre, Abuja.
Meanwhile, the Federal Government, yesterday, ruled out increasing taxes as a way of offsetting the deficits in the 2016 Budget proposals presently before the National Assembly.
The Minister of Budget and National Planning, Udoma Udo Udoma, said the government will rather concentrate on improving taxes’ collection.
Stressing that the government does not want to increase the suffering of Nigerians, the minister said the government is aiming to increase corporate tax and Value Added Tax (VAT) collections by at least 20 per cent.
He spoke with State House correspondents at the end of the National Economic Council (NEC) meeting presided over by Vice President Yemi Osinbajo.
The minister was accompanied by governors Akinwunmi Ambode (Lagos), Willy Obiano (Anambra) and Badaru Abubakar (Jigawa).
Udoma said: “We expect about 20 per cent increase in VAT collection, which is conservative in terms of our revenue projections. We are expecting much more than that.
“With reference to the budget, one thing we are determined not to do is to cut any of those capital projects, because we need them to stimulate the economy. We are going to work with the National Assembly, to see how we can get savings.
“One of the areas we are looking at is our cash call elements. The minister of state for petroleum is looking at how we can cut our cash call elements which is about N1trillion by innovative financing. So, he is discussing with some oil companies and looking for some innovative financing which might pick up some of the financing so that we reduce our financial output and contribution by the Federal Government,” he said.
News
Rivers PDP Debunks Sale Of LGA Election Forms

The Publicity Secretary of the Peoples Democratic Party (PDP) in Rivers State, Dr. Kenneth Yowika, has debunked claims that the party has commenced sale of forms for chairmanship and councillorship elections across the 23 local government areas of the state.
Yowika made the rebuttal in a statement made available to newsmen on Wednesday, describing the publication on the social media as baseless and untrue.
He urged members of the PDP to disregard the claim, saying that official communication regarding the sale of forms would be disclosed through the appropriate channels.
“With reference to information trending on social media, it has been falsely claimed that the sale of forms for Chairmanship and Councillorship elections in the 23 Local Government Areas (LGAs) of Rivers State will begin soon.
“However, the party has firmly denied these rumours, stating that they are baseless and untrue.
“The party has its own established methods of reaching out to its numerous supporters.
“The People’s Democratic Party, a law-abiding organisation, will patiently await the release of guidelines from the recently inaugurated Rivers State Independent Electoral Commission (RSIEC) before considering any sale of election forms.
“The PDP is urging its members to remain calm as official communication regarding the sale of forms will be disclosed through appropriate channels,” the statement read.
Enoch Epelle
News
South-South contributes N34trn to Nigeria’s economy in 2024 – Institute
Prof. Pius Olanrewaju, President of the Chartered Institute of Bankers of Nigeria (CIBN), has stated that the South-South region contributes N34 trillion to country’s economy in 2024.
He made the remark at the South-South Zonal Banking and Finance Conference in Calabar, yesterday.
He spoke on the theme, ‘’Building An Inclusive South-South: Economic Diversification as a Catalyst For Development.’’
Olanrewaju, who quoted the data from the Cable Data Index, said the feat was more than 21 per cent of Nigeria’s real Gross Domestic Product (GDP).
The president described the growth as ‘’ impressive,’’ saying that it was not driven by oil alone but significant expansions in trade, services, and the creative industries.
According to him, to fully harness this potential, coordinated financial, technological, and policy support is essential.
“As we work to reposition the South-South for broad-based prosperity, the financial system must play a central role, not merely as a source of capital, but as a catalyst for innovation, ideas incubation, and inclusive economic growth.
“This conference, therefore, provides a strategic opportunity for stakeholders to reimagine the South-South economy, not merely as a resource belt, but as a region of diverse capabilities and resilient enterprises.”
Olanrewaju added that Nigeria must move beyond old models and chart a new course for the development of the South-South region, where financial institutions and stakeholder collaborate to diversify the economy for shared prosperity.
He, however, commended Gov. Bassey Otu for his pledge of land for CIBN Secretariat in Cross River and being the first sitting governor to willingly undergo and complete the Chartered Bankers Programme.
On his part, Gov. Otu said that the conference discussion on the economic diversification in South-South region was timely against the backdrop of global trade and economic volatility that was affecting the nation’s economy.
Represented by his deputy, Mr Peter Odey, Otu said the South-South region must now act with urgency to diversify its economy while leveraging its shared natural endowment in agriculture and extractive resources.
“This conference must help develop tailored financial solutions that reflect the unique strengths and realities of states like Cross River in the south-south.
“Diversification should be evidence-based and must be backed not just by financial advice but project focused financing and real investment support,” he noted.
He said that Cross River had taken the bold step to invest in its agricultural sector by launching an Agro processing hub.
Otu further said that the state had invested in aviation by acquiring more aircrafts for Cally Air, construction of the Bakassi Deep Seaport and injecting N18 billion in its tourism sector.
Similarly, Mr Tolefe Jibunoh, Cross River Branch Controller of the Central Bank of Nigeria (CBN) said that the region was blessed with natural resources, cultural diversities and immense human potentials.
Jibunoh, who was represented by Mr Segun Shittu, Head, Currency Control Office, CBN, Calabar, noted that strategic diversification could unlock unprecedented opportunities for growth in the region.
He added that the CBN remained steadfast to maintain monetary possibilities and promote a sound financial system as a catalyst for sustainable economic development for the benefit of all.
News
Rivers Chief Judge Frees 21 Awaiting Trial Inmates
In a bid to decongest the correctional facilities in Rivers State, the Chief Judge, Justice Simeon Chibuzor Amadi, has pardoned 21 inmates awaiting trial at the Port Harcourt Maximum Correctional Centre.
The exercise, which held yesterday in Port Harcourt, was part of the Chief Judge’s efforts to reduce the prison population, which has exceeded its capacity.
Justice Amadi noted that the correctional centre, built to accommodate 1,500 inmates, currently houses over 2,500 inmates.
He emphasized the need for concerted efforts by all stakeholders in the criminal justice system to address the issue of prison decongestion.
The Chief Judge stated that keeping inmates in custody without trial does not benefit society and instead punishes them without justification.
He explained that the decision to release the inmates was based on a review of their cases.
The Tide reports that those with ongoing court cases were not considered for release, but inmates whose case files could not be traced and had spent years in custody without any progress in their trials were freed.
The judge maintained that the goal delivery exercise was not the normal routine duty but fundamental aspects of his judicial responsibilities rooted in legal traditional as provided in the criminal justice released from custody special provision Act Cap C,4c laws of the Federation of Nigeria 2004 and section 34 sub 1 of Rivers state Administration of Criminal Justice Law No 2015.
Among those released were two mentally challenged inmates who had spent between eight and 10 years in custody without any clear charges or trial progress.
Justice Amadi advised the freed inmates to become change agents in society and avoid repeating the crimes that led to their incarceration.
He also urged the Police to conduct diligent investigations before charging suspects to court, emphasizing the importance of proper legal procedures.
The State Controller of Correctional Service, Madumere Felix, expressed gratitude to the Chief Judge for the exercise and highlighted the challenges faced by the correctional service.
He disclosed that the maximum correctional centre has 503 inmates on death row and over 2,500 inmates in total, far exceeding its capacity.
Felix called on the Chief Judge to help channel the service’s challenges to the state government for support and assistance.
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