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Diversification from oil, an urgent economic necessity – Speaker Abbas

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…as he charged stakeholders at 14th Al-Hikmah inivarsity convocation lecture
By Gloria Ikibah
The Speaker of the House of Representatives, Rep. Abbas Tajudeen, has emphasised the urgent need for Nigeria to diversify the oil-dependent economy, warning that a further delay poses more challenges ahead for the country.
Speaker Abbas who stated this during the 14th Convocation Lecture of the Al-Hikmah University, on Monday, on Monday, called for deliberate and collective efforts by all stakeholders in the public and private sectors to chart a strategic way forward for the country economically.
Naijablitznews.com reports that was the first convocation lecture the Speaker personally delivered since his emergence in June 2023, Titled, ‘Beyond Oil: Exploring Alternative Revenue Potentials for Economic Growth and Sustainable Development in Nigeria’.
The Speaker, who expressed his delight for being the convocation lecturer at the first Islamic-based private University in Nigeria, noted that the topic was apt, as he considered it “a great challenge to the consciousness of our political leaders, policymakers, technocrats, and academicians on the need for strategic thinking and urgent collective action.”
While stating that the topic “speaks to one of the most pressing challenges confronting our nation,” Speaker Abbas stressed that “it becomes evident that our over-reliance on oil revenue has left us vulnerable to global market fluctuations, environmental degradation, and economic instability.”
Speaker Abbas listed the potential sectors for diversification in Nigeria as including agriculture, mining, manufacturing/industrialisation, ICT/digital economy, creative industries/tourism.
Speaker Abbas also noted that oil dependency has led to several economic, environmental, and strategic challenges. Economically, he said Nigeria faces significant volatility due to fluctuations in global oil prices.
The Speaker equally identified the challenges impeding diversification as including institutional weaknesses, infrastructural deficits, and global economic pressures.
The Speaker noted that the urgency of the discussion cannot be overstated, especially with dwindling oil revenues, global shifts toward renewable energy, and the increasing need for job creation.
“It is imperative that we chart a new course for economic transformation. This requires deliberate efforts to unlock the potential of other sectors, such as agriculture, solid minerals, technology, and the creative industries. Achieving this transformation will secure Nigeria’s economic future and address poverty, inequality, and unemployment—critical barriers to sustainable development,” he said.
Apart from that, he said oil dependency has contributed to severe environmental degradation, especially in the Niger Delta region, where most of Nigeria’s oil production occurs.
Furthermore, the Speaker said Nigeria faces the strategic challenge of adapting to the global transition towards renewable energy sources.
“As the world moves to reduce carbon emissions and adopt cleaner energy technologies, the demand for fossil fuels is expected to decline. This transition poses a long-term risk to Nigeria’s oil revenues and economic stability.
“Without a robust strategy for economic diversification, Nigeria may struggle to remain competitive in a changing global energy market. Addressing these challenges requires coordinated efforts to enhance economic resilience, protect the environment, and position Nigeria for sustainable growth in a low-carbon future,” he stated.
Recognising these challenges, Speaker Abbas equally noted that Nigeria has pursued economic diversification for over 30 years to reduce its dependence on oil revenues.
“Despite these efforts, Nigeria’s economy remains highly reliant on oil,” the Speaker, however, stated.
Speaker Abbas pointed out that economic diversification is vital for stability, job creation, and achieving the Sustainable Development Goals (SDGs). “Nigeria’s debt-to-GDP ratio of 34.6 percent necessitates prudent resource management. Investing in non-oil sectors can stimulate economic resilience and reduce dependence on volatile oil markets,” he stated.
The Speaker noted that President Bola Ahmed Tinubu’s administration has prioritised economic diversification through bold reforms, including removing fuel subsidies and implementing the Presidential Initiative on Compressed Natural Gas (CNG).
He said: “The administration’s tax reform programme aims to improve Nigeria’s tax-to-GDP ratio, currently at 10.9%, by streamlining administration and broadening the tax base (Nigeria Economic Data, 2024).
“Investments in infrastructure and human capital development, including a proposed N16 trillion allocation to infrastructure and N6 trillion for education, further demonstrate the government’s commitment to sustainable growth.”
The Speaker stated that embracing economic diversification is critical for Nigeria to navigate global energy transitions, meet climate commitments, address demographic pressures, and achieve economic stability.
He said: “Strategic investments in agriculture, manufacturing, solid minerals, tourism, and renewable energy will reduce dependence on oil, create jobs, and foster sustainable development. With visionary leadership and targeted policies, Nigeria can unlock its vast economic potential and secure a prosperous future.”
Speaker Abbas told the audience that the 10th House of Representatives, tagged the ‘People’s House,’ has demonstrated a strong commitment to addressing economic challenges through its Legislative Agenda. “This agenda prioritises unlocking economic growth and developing Nigeria’s vast human and natural resources, emphasising legislative reforms and strategic oversight to support diversification,” he noted.
Acknowledging the need for economic restructuring, Speaker Abbas disclosed that the House has supported legislation to reduce dependence on oil revenues, enhance agricultural productivity, and promote industrialisation.
“Constituency projects, including road construction, school renovations, and water supply schemes, have also contributed to job creation and economic empowerment at the grassroots level,” he said.
Speaker Abbas concluded by saying: “This lecture has laid bare the vulnerabilities inherent in Nigeria’s over-reliance on oil revenues, highlighting the economic, environmental, and structural challenges this dependence has created.
“We examined Nigeria’s historical trajectory as an oil-dependent nation and drew lessons from the successes and failures of other resource-rich countries.
“Notable examples such as Saudi Arabia, Malaysia, and the United Arab Emirates demonstrate that economic transformation is achievable through deliberate diversification strategies anchored on policy reforms, infrastructure investments, and human capital development.”
He added that the lecture has underscored “the urgency of harnessing Nigeria’s abundant natural resources, fertile agricultural lands, burgeoning creative industries, and vibrant technology sector to build a resilient economy.”
Speaker Abbas stressed: “Nigeria’s economic transformation demands collective responsibility. The government must lead with visionary policies, transparent governance, and strategic investments in infrastructure and education. Parliament should continue to enact enabling legislation and ensure rigorous oversight of policies and programmes aimed at diversification.
“Academia has a vital role in conducting research, generating data-driven insights, and developing skills essential for the new economy. Universities should strengthen collaborations with industries to drive innovation and entrepreneurship.
“The private sector must embrace investments in emerging industries, support small and medium enterprises, and leverage technology to boost productivity.
“As the backbone of Nigeria’s workforce, youths, including all of you in this hall, must seize opportunities in entrepreneurship, agriculture, digital technology, and creative industries to redefine Nigeria’s economic narrative.”

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Reps Move to End Rejection of NYSC Members by Government Agencies

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…say the practice undermines National Service Scheme, waste public funds

By Gloria Ikibah

The House of Representatives has taken steps to address the growing rejection of National Youth Service Corps (NYSC) members by government institutions across the country, warning that the trend is undermining the objectives of the national service scheme and depriving young graduates of valuable work experience.

The move followed the consideration of a motion sponsored by Rep. Rodney Ambaiowei, who raised concerns over what he described as the increasing refusal of Ministries, Departments and Agencies (MDAs) to accept corps members posted to them for their mandatory one-year national service.

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Presenting the motion, Ambaiowei reminded lawmakers that the NYSC was established as a critical component of Nigeria’s post-civil war reconciliation and nation-building efforts.

He stated: “The National Youth Service Corps (NYSC) scheme was established as part of the post-civil war reconstruction of Nigeria with the specific aims of fostering national unity, reconciliation, and reconstruction by engaging young graduates in community service and promoting a sense of shared national identity and purpose. The scheme came into effect vide Decree No. 24 of 1973 (now the National Youth Service Corps Act, Cap. N84, LFN, 2004) promulgated by the General Yakubu Gowon administration.”

The lawmaker noted that for more than five decades, the scheme has played a significant role in promoting national integration by deploying graduates to states outside their regions of origin and residence.

Ambaiowei further highlighted the positive contributions of the programme over the years, including community development, business growth and social integration.

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According to him, “Since its inception, the scheme has fostered national cohesion and healing, as a mandatory national scheme, graduates of universities and polytechnics from different regions of the country converge to render compulsory one-year national service in locations other than their states of origin and residence.

“The scheme has recorded positive impacts in credible service delivery, marriages contracted during service year, successful business development in places of primary assignment, and integration of corps members in their host communities, among other benefits”.

Despite these achievements, the lawmaker expressed concern that many government establishments now routinely reject corps members posted to them, leaving graduates without meaningful opportunities to contribute or gain practical experience.

Ambaiowei also cautioned that the practice amounts to a waste of public resources, as the government continues to pay allowances to corps members who are left without structured engagements.

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“The scheme, which is designed to provide willing workforce to the public and private sectors, is currently facing setbacks as Government establishments are rejecting NYSC corps members, denying them service opportunities and experience. This has left many graduates vulnerable to exploitation by private firms and crime, while wasting the scheme’s intended workforce for public and private sectors.

“The rejecting corps members wastes public funds since the government still pays stipends for no economic contribution, without a clear engagement plan, the NYSC scheme loses value and discourages future graduates from participating.

“Proper deployment and utilisation of this young Corps Members’ energy in government offices during service year will enhance valuable experience, prepare them for rewarding careers in the public and private sectors, and boost national productivity and economic growth”, he added.

Following deliberations, the House resolved to urge all Ministries, Departments and Agencies of government, including the National Assembly, to stop rejecting corps members and instead create work structures that accommodate and effectively engage them.

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Lawmakers also mandated the House Committee on Youth Development to liaise with the Director-General of the NYSC with a view to developing a comprehensive framework for deploying and harnessing the potential of corps members throughout their service year.

The resolution is expected to strengthen the implementation of the NYSC scheme and ensure that young graduates are given meaningful opportunities to contribute to national development while acquiring practical workplace experience.

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Reps Order FCTA, Works Ministry to Urgently Cleanup Blocked Waterways,Sewage Systems in Abuja

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By Gloria Ikibah

The House of Representatives has directed the Federal Capital Territory Administration (FCTA) and the Ministry of Works and Housing to immediately clear blocked drains and repair damaged drainage infrastructure in parts of Abuja plagued by flooding and sewage-related challenges.

The directive affects key locations including Shehu Shagari Way, LaSalle Junction, Alvan Ikoku Way and other flood-prone areas across the Federal Capital Territory.

The House also called on the FCTA to develop and implement a comprehensive sewage evacuation and drainage maintenance programme, while engaging urban planning and environmental experts to design sustainable solutions to recurring sewage blockages and drainage failures across the capital city.

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The resolutions followed the adoption of a motion titled “Need to Clear Blocked Waterways and Sewages in the Federal Capital Territory, Abuja”, sponsored by Rep. Blessing Onuh during Thursday’s plenary.

Moving the motion, Onuh warned that neglected drainage channels and blocked sewage systems had become a major public health and environmental concern, contributing to repeated flooding in several parts of Abuja.

She noted that some of the worst-hit locations include Shehu Shagari Way, LaSalle Junction and Alvan Ikoku Way at Minister Hill, as well as communities within the Area Councils of the FCT.

She said: “These problems stem from poor drainage maintenance and blocked channels resulting in stagnant water that emits foul odors and poses serious health and environmental hazards to residents and commuters.

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“Worried that the resulting unhygienic conditions from stagnant water and blocked drains increases the risk of waterborne diseases and affect the quality of life within the FCT.

“Also worried that despite repeated public complaints, the response from relevant authorities has remained inadequate, with insufficient proactive measures”.

The lawmaker stressed that proper maintenance of drainage and sewage systems was essential to preventing hazardous overflows and protecting public infrastructure, health and the environment.

The House unanimously adopted the motion, expressing concern over the recurring flooding incidents and the growing risks posed by poorly maintained waterways and drainage channels.
The House mandated its Committee on the Federal Capital Territory and the Committee on Legislative Compliance to monitor implementation and ensure that the relevant authorities comply with the resolutions.

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The latest intervention comes amid growing concerns over flooding and sanitation challenges in parts of Abuja, particularly during the rainy season when blocked drains often worsen traffic congestion, damage infrastructure and expose residents to health risks.

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G-60 Fires Back at Agbese, Insists No Signature Was Forged in Ugochinyere’s Minority Leader Bid

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…group claim CCTV footage show lawmaker signing endorsement document

By Gloria Ikibah

The G-60 Minority Caucus in the House of Representatives has dismissed allegations that signatures on the nomination document endorsing Rep. Ikenga Ugochinyere for the position of Minority Leader were forged, insisting that all lawmakers who signed the document did so voluntarily.

The group’s response comes barely hours after a dramatic session on the floor of the House in which Deputy House Spokesperson, Rep. Philip Agbese, alleged that his signature had been forged on a list endorsing Ugochinyere’s emergence as Minority Leader.

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The dispute is the latest twist in the battle for the leadership of the minority caucus following the resignation of former Minority Leader, Rep. Kingsley Chinda.

In a statement signed by Rep. Mukhtar Umar and Rep. Seyi Sowunmi on behalf of the G-60 Minority Caucus, lawmakers maintained that the endorsement process was transparent and enjoyed overwhelming support among opposition members.

“There is no forgery or fake signature in the nomination of Hon. Ikenga Ugochinyere of the Action People’s Party (APP) for the position of Minority Leader.

“Contrary to claims made by the Deputy Spokesperson of the House, Hon. Philip Agbese at the plenary today, all signatures appended to the nomination document were voluntarily provided by the lawmakers concerned. Out of the 81 members that constitute the Minority Caucus, 61 lawmakers willingly signed in support of Hon. Ikenga Ugochinyere’s nomination to fill the vacancy created by the exit of Hon. Kingsley Chinda following his defection to the All Progressives Congress (APC) and his subsequent emergence as the party’s governorship candidate in Rivers State”, the caucus said.

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The lawmakers directly challenged Agbese’s claim that his signature was forged, describing the allegation as inaccurate and misleading.

The group said the controversy should not be allowed to undermine what it described as a democratic and transparent process carried out by members of the opposition caucus.

According to the caucus, “We note with concern the allegation by Hon. Philip Agbese that his signature was forged on the endorsement list. This claim is false and misleading. To establish the facts and dispel any misinformation, video evidence exists showing Hon. Agbese personally signing the nomination document and it will be sent out with this statement in the interest of transparency and accountability.

“We remain committed to due process, unity, and the collective interest of opposition lawmakers in the House of Representatives. Attempts to discredit a transparent and democratic process through unfounded allegations should be discouraged. We urge members of the public and the media to disregard claims of forgery and rely on verifiable facts regarding the nomination process.”

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The latest development is expected to intensify the ongoing contest over the leadership of the minority bloc, with the House leadership already moving to engage opposition lawmakers in consultations aimed at resolving the dispute.

At the centre of the controversy is Ugochinyere’s claim that 61 of the 81 minority lawmakers have endorsed his nomination for Minority Leader, a development that has exposed deep divisions within the opposition caucus and triggered competing claims over the legitimacy of the process.

With both sides standing firmly by their positions and fresh evidence now being cited by the G-60 group, attention is likely to shift to any formal investigation by the House leadership into the allegations and counter-allegations surrounding the minority leadership contest.

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