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Deputy Speaker Pushes for Strategic Economic Reforms in Meeting With Presidential Council

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…call for stronger synergy With for lasting national impact

By Gloria Ikibah

The Deputy Speaker House of Representatives, Rep. Benjamin Okezie Kalu, has urged the formulation and execution of intentional economic strategies to fast-track Nigeria’s development goals.

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Kalu stated this while receiving members of the Presidential Economic Advisory Council and Presidential Foreign Intervention Promotion Council, led by Director-General Prince Adeniyi Adeyemi, who were on a courtesy visit, on Thursday in Abuja. 

He emphasised the importance of collaboration with the National Assembly, particularly the 10th House of Representatives, in shaping impactful policies. 

He said: “By working closely with us, we can craft sound policies that not only serve Nigeria’s best interests but also contribute to regional and global stability and growth.

“I therefore encourage you to focus on building resilient economies that
can withstand global fluctuations while also investing in partnerships that
enhance our influence and support our strategic goals abroad”.
 
Kalu recognised the critical role the PFIPC plays in ensuring foreign partners are afforded the same rights, protections, and opportunities as local businesses, in line with the Foreign Investment Protection Act, the Deputy Speaker also said that the legislative framework has ensured transparency. 
 
“As we know, this legislative framework promotes legal safeguards, ensures transparency, and guarantees equitable treatment, which are essential pillars for building a climate of trust and confidence among international stakeholders. These efforts are vital as Nigeria seeks to scale its growing economy, projected by the International Monetary Fund (IMF) to grow by 3.3% this year, despite global headwinds. 
 
“These efforts have not gone unnoticed by the global financial community. Just last month, a Global Ratings Agency, Fitch Ratings, upgraded Nigeria’s long-term foreign-currency issuer default rating (IDR) from ‘B-’ to ‘B’, with a stable outlook. The IDR, which measures an entity’s relative vulnerability to default, is a critical barometer of investor confidence. Fitch’s upgrade is a strong endorsement of the government’s commitment to policy reforms, including: exchange rate liberalisation; monetary policy tightening; ending deficit monetisation and removal of fuel subsidies. 
 
“These reforms have improved policy coherence and credibility, reduced
economic distortions, and significantly lowered near-term risks to macroeconomic stability”, he added. 
 
He further expressed satisfaction with the passage of the tax reform bills by the National Assembly, and said it will broaden the nation’s tax base. 
 
“I am proud to highlight that the 10th House of Representatives has not only prioritized but also successfully passed four critical tax reform bills. These reforms are designed to broaden our tax base, improve revenue mobilization, and create a more business-friendly environment for both
local and foreign investors.
 
“As you know, the National Assembly directly and indirectly influences the
economic environment through its lawmaking and oversight powers; therefore, the Legislative Agenda of the 10th House of Representatives is focused on efforts to enact legislation to promote sustainable economic growth and strengthen agricultural development”, he said.
 
Earlier in his remarks, leader of the delegation, Prince Adeniyi Adeyemi said they were at the Deputy Speaker’s office to seek collaboration with the National Assembly as a strategic partner in the realization of the renewed hope agenda of President Bola Ahmed Tinubu.
 
“We identified that the National Assembly is a strategic partner in achieving the agenda of Mr President. That’s the reason why we are here. As the Presidential Economic Advisory Council, we serve Mr. President an evidence based research on economy policy and implementation. In order to achieve this we need the collaboration of National Assembly. To achieve the renewed Hope agenda of Mr President, we need to collaborate with you.
 
“We are here to intimate you about our foreign investors to stabilize our economy which we are facilitating to Nigeria. Nigeria will be hosting world investment summit between November 10 to 14, 2025. We need your collaboration to make Nigeria a preferred destination for foreign investments”, Adeyemi said. 
 
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Just in: Trump plans visa restrictions on Nigerians, others

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United States President Donald Trump is considering imposing a travel ban on Nigeria and a host of other countries, mostly from Africa.

The affected countries are expected to meet new requirements laid down by the State Department within 60 days.

“The new list includes Angola, Benin, Burkina Faso, Cabo Verde, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Djibouti, Ethiopia, Egypt, Gabon, Gambia, Ghana, Liberia, Malawi, Mauritania, Niger, Nigeria, São Tomé and Príncipe, Senegal, South Sudan, Tanzania, Uganda, Zambia, and Zimbabwe.

“The memo identified varied benchmarks that, in the administration’s estimation, these countries were failing to meet.

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Some countries had “no competent or cooperative central government authority to produce reliable identity documents or other civil documents,” or they suffered from widespread government fraud.”

Others are Antigua and Barbuda, Dominica, Saint Kitts and Nevis, Saint Lucia, Bhutan, Cambodia, Kyrgyzstan, Syria, Tonga, Tuvalu, and Vanuatu.

The countries on the new list are also expected to submit to the State Department, on Wednesday, an initial plan of action to meet the new requirements.

In March, Trump had considered imposing a travel ban on 43 countries, while Nigeria was not on the list.

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The 43 countries were divided into three groups: red, orange, and yellow.
The red group consists of 11 countries whose nationals would be barred from entering the US.

The orange group comprises 10 countries whose visas would be sharply restricted.

The countries under yellow were given 60 days to address concerns.

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BREAKING! 3 days after, another helicopter crashes in India, killing all crew and passengers(Photos)

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Sad! Three days after the devastating Air India Crash in Ahmedabad, a Bell 407 helicopter has crashed in Gaurikund, Uttarakhand, early Sunday morning, killing all seven people on board, including the pilot.

The accident occurred at around 5:30 AM in a remote area of the Himalayan state. According to Indian media reports, the aircraft was carrying five adult passengers, one infant, and the pilot when it went down.

Authorities have not yet confirmed the cause of the crash, but rescue teams have been dispatched to the site for recovery operations. The identities of the victims have not been released pending notification of their families.

Uttarakhand, a region with challenging terrain, has seen previous aviation incidents due to unpredictable weather and difficult landing conditions. Investigations into the crash are ongoing.

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Iran-bound businessman nabbed at PH airport for ingesting 53 wraps of cocaine

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. As NDLEA recovers tramadol consignments in winter jackets going to Europe at Lagos airport; intercepts N1.1billion opioids in Rivers; 2,687kg skunk in Cross River

Barely two weeks after operatives of the National Drug Enforcement Agency (NDLEA) at the Mallam Aminu Kano International Airport (MAKIA) Kano, intercepted a 60-year-old businessman Chinedu Leonard Okigbo heading to Iran with 65 pellets of cocaine in his stomach, their counterparts at the Port Harcourt International Airport (PHIA) have arrested another businessman, 44-year-old Ezemokwe Chukwuebuka Christian for ingesting 53 wraps of the same class A drug while on his way to Tehran Khomeini, Islamic Republic of Iran.
Ezemokwe was arrested at the Port Harcourt airport on Saturday 7th June while trying to board Qatar Airways flight QR1434 flying to Tehran Khomeini in Iran via Doha. After a body scan proved positive to ingestion of illicit drug, he was placed on excretion observation during which he expelled 53 wraps of cocaine in six excretions with a total weight of 1.172kg. The suspect claimed to have gone into the criminal trade two years ago, moving between the West African sub-region and Iran.

Similarly, NDLEA operatives at the Murtala Muhammed International Airport (MMIA) Ikeja Lagos in the early hours of Saturday 14th June intercepted an Italy bound passenger Edobor Ambrose Ali on an Air France flight. The NDLEA officers in collaboration with the Aviation Security of the Federal Airports Authority of Nigeria (FAAN), discovered drug consignments hidden in the luggage of the suspect during baggage scanning at the tarmac.

The suspect was thereafter brought down from the aircraft for baggage identification after which a thorough search of the bag led to the discovery of 14, 410 pills of tramadol 225mg and 200mg concealed in winter jackets. In his statement, Ebodor said he lives in Italy where he was hired and sent on the all expense paid trip to Nigeria to courier the drug consignments to Milan, Italy for a fee of 2000 Euros.
At the Port Harcourt Ports in Onne, Rivers state, NDLEA operatives on Friday 13th June intercepted a shipment of 157,800 bottles of codeine-based syrup worth over N1.1 billion naira in street value, during a joint examination of a watch-listed container with men of Customs Service and other security agencies. The opioid consignments were hidden behind 257 cartons of ceramic sanitary wares.
At least, three suspects: Friday Achibong Joseph, 47; Abraham Anthony Willy, 21; and Utibe David Okon, 24, were arrested on Thursday 12th June when NDLEA operatives raided a warehouse in Obereakai, Odukpani LGA, Cross River state, where a total of 2,687kg skunk, a strain of cannabis, was recovered. Same day in Bauchi state, NDLEA officers acting on credible intelligence, arrested the duo of Iriemi Imonikhe, 49, and Sa’idu Ladan, 30, along Bauchi -Jos road after 195 blocks of skunk weighing 287kg were discovered in their Toyota Camry car marked AKL 201 GG.
While 14 jumbo sacks of skunk weighing 560kg were recovered from a wooden boat at Oniru beach in Lagos by operatives of the Marine Command of NDLEA on Thursday 12th June, officers of the Muhammadu Buhari International Airport Maiduguri (MBIAM) same day arrested two businessmen: Ishaku Abdullahi, 30; and Buba Usman, 32, at the arrival hall of the domestic wing of the airport with various quantities of ecstacy pills and skunk packaged in fanciful wraps labelled as ‘Lychee’ and ‘Porro Legal’
The War Against Drug Abuse, WADA, social advocacy activities by NDLEA Commands equally continued across the country in the past week. Some of them include: WADA sensitization lecture delivered to students and staff of Command Secondary School, Orba, Uden LGA, Enugu; Divine Gift International School, Abakaliki, Ebonyi; Baptist Primary School, Ago-Are, Oyo; and St. Vincent Secondary School, Oti-Oron Okobo, Akwa Ibom state, among others.
While commending the officers and men of MMIA, PHIA, MBIAM, PHPC, Marine, Cross River, and Bauchi Commands of the Agency for the arrests and seizures of the past week, Chairman/Chief Executive Officer of NDLEA, Brig. Gen. Mohamed Buba Marwa (Rtd) praised their compatriots in all the commands across the country for pursuing a fair balance between their drug supply reduction and drug demand reduction efforts.

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