Politics
Senate moves to create N1.6billion Council for Economic Diversification
By John Akubo
The Senate has set machinery in motion for well guided diversification of the Nation’s economy to keep the country on the part of economic development
The Economic Diversification Council when in place will serve as special purpose vehicle for urgent facilitation of it’s purpose.
The Council as explained in the bill sponsored to that effect by Senator Aliyu Sabi Abdullahi ( APC Niger North) and passed for second reading, will be self funding after take off grant of N1.618billion for the first year.
Senator Abdullahi in his lead debate on the piece of legislation titled : “A bill for an Act to establish the Nigerian Economic Diversificaton Council and to provide for comprehensive framework, structures, programmes and schemes for strengthening capacity development in that direction ”
Hesaid the new approach will be a departure from policy pronouncements of the past to required legal instrument .
“Specifically the objectives of this Bill is to have a legislative framework for diversification of the Nigerian economy.
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“It includes the establishment and maintenance of programmes for the overall development of the Nigerian e economy, more especially, to encourage the growth of Nigerian industries, services, technologies in order to diversify the Nigerian economy and raise the standard of living of persons living in Nigeria to a reasonable level.
“The critical and urgent need for the diversification of the Nigerian economy to guarantee a prosperous economic future for both the present and unborn generations of Nigerians must no longer be glossed over, if Nigeria is to be kept alive.
“Nigeria need to move away, and , very quickly too, from over reliance on the unstable petroleum revenue to a well-focused diversified economy where the key sectors of the economy like the ICT, Solid minerals, health, manufacturing, power, agriculture and maritime sectors will be productively utilized to provide sources of sustainable revenues for the economy”, he stressed.
According to him, Nigeria’s crude oil proceeds fell by 41.60 percent in the first quarter of 2021 to $6.48 billion from $11.1 billion in the first quarter of 2020.
He explained that despite various loans, reforms and policies by both present and past governments, millions of Nigerians continue to remain impoverished.
“Diversification helps to mitigate volatility and provides a more sustainable path for equitable growth and development.
“It is even more crucial now, given the slower global economy and the pressing need in many developing nations to boost revenue”, he said.
He gave example of Malaysia to embellish his argument by saying ”
since gaining independence in 1963, Malaysia effectively diversified its economy from one dependent on agriculture and commodities to one based on robust manufacturing and service sectors”.
The envisioned law, he added makes for inter-sector synergies among the key sectors of the economy, as well as the creation of a Council to ensure strict implementation of its provisions.
He said the Board of Council sought to be created would be headed by the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria.
He added that Ministers of key sectors like solid minerals, trade and investment, agriculture, health, finance, communication and digital economy, science and technology, Governor of the Central Bank, and key stakeholders in the private sector, among others, would be members to ensure that high level policy decisions are not only taken but implemented.
The bill after exhaustive debate by Senators was passage for second reading and referred by the Senate President, Ahmad Lawan, to the Committee on National Planning and Economic Affairs for further work and report back within four weeks .
A former senator representing Sokoto East Senatorial District, Abubakar Umar Gada, has assured members and supporters of the Peoples Democratic Party (PDP) that the party remains strong and united in Sokoto State despite recent defections by some political figures.
Gada gave the assurance in a statement issued on Thursday in Sokoto, where he urged party loyalists to remain calm, focused and committed to the ideals of the PDP.
According to him, political defections are not unusual in Nigeria’s democratic landscape and should not be seen as a threat to the stability and strength of the party in the state.
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The former lawmaker stressed that the PDP still enjoys a strong grassroots presence in Sokoto, noting that the party’s structure across the state remains intact and capable of delivering electoral victories.
He explained that the strength of the PDP lies in the loyalty and dedication of its members, leaders and supporters who have remained committed to the party through various political challenges.
Gada also pointed out that politics allows individuals the freedom to make personal decisions, but maintained that the PDP as an institution remains resilient and firmly rooted in the aspirations of the people of Sokoto State and Nigeria.
He further disclosed that the party’s national leadership has already initiated measures aimed at strengthening internal unity and consolidating party structures across the country.
According to him, consultations and reconciliation efforts are currently ongoing among key stakeholders to address emerging concerns and reinforce unity within the party.
Gada noted that such engagements are designed to ensure the PDP moves forward with renewed focus, stronger unity and a clear commitment to democratic values.
He recalled that the party has successfully navigated several political challenges in the past and has consistently emerged stronger.
The former senator therefore urged PDP members in Sokoto State to remain steadfast and avoid actions capable of creating divisions within the party.
He also called on supporters to intensify grassroots mobilisation and strengthen party structures across all levels as the party prepares for future political contests.
The lingering intra-party crisis in the Peoples Democratic Party (PDP) has forced senator representing Sokoto South, Aminu Tambuwal to dump the party for the African Democratic Congress (ADC).
Tambuwal, a former governor of Sokoto State, disclosed this in a resignation letter dated March 11, 2026, addressed to the PDP ward chairman in Tambuwal/Shinfiri Ward of Tambuwal Local Government Area.
The letter, which was made available to journalists on Thursday, said the decision followed consultations with his political associates and supporters.
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“After deep reflection and extensive consultations with my political associates and supporters, I have decided to resign my membership of the Peoples Democratic Party with immediate effect,” Tambuwal stated.
According to the former Speaker of the House of Representatives of Nigeria, lingering disputes and leadership disagreements in the PDP made it increasingly difficult for him to remain in the party.
“The persistent internal crises, leadership disagreements and growing divisions within the party have made it increasingly difficult for me to continue my membership,” he added.
Despite leaving the party, the senator expressed appreciation to the PDP for the opportunities it gave him to serve in different capacities.
“I remain grateful to the party for the platform it provided me to serve Nigeria as Speaker of the House of Representatives and later as Governor of Sokoto State,” he said.
Tambuwal confirmed that he had joined the ADC alongside his political associates and supporters, describing the move as part of efforts to strengthen democratic values and provide a credible political alternative.
“My decision is guided by the conviction that Nigeria requires a stronger political platform built on integrity, accountability, inclusiveness and a clear commitment to national development,” he added.
Tambuwal served as Speaker of the House of Representatives between 2011 and 2015 before emerging governor of Sokoto State in 2015 under the All Progressives Congress (APC). He later defected to the PDP the same year and was re-elected governor in 2019.
After completing his second term in 2023, he was elected to the Nigerian Senate to represent Sokoto South.
His defection to the ADC is expected to alter the political dynamics in Sokoto State, where he remains one of the state’s most influential political figures.
Governor Dauda Lawal of Zamfara State has explained that the persistent crisis and legal disputes within the Peoples Democratic Party compelled him to defect to the All Progressives Congress.
The governor’s defection was formally announced on Monday by his deputy, Mani Mummuni, after a stakeholders’ meeting held at the Government House in Gusau.
In a statement issued by the governor’s spokesperson, Sulaiman Bala Idris, the move was described as a necessary step taken in the interest of the state and supported by political stakeholders across Zamfara.
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According to the statement, Governor Lawal had remained committed to the PDP despite the ongoing leadership crisis and had made several efforts to reconcile factions within the party.
However, attempts to achieve peace and unity reportedly failed, leading to prolonged legal battles.
The development followed a judgment by the Court of Appeal in Abuja, which dismissed an appeal filed by the PDP challenging an earlier ruling of the Federal High Court.
The earlier judgment had restrained the Independent National Electoral Commission from recognising the outcome of the party’s national convention held in Ibadan, Oyo State.
The governor was said to have informed political stakeholders during a series of meetings that he would make a final decision about his political future after the appellate court delivered its ruling.
Following the judgment, Lawal concluded that joining the APC would better position him to continue what he described as the “Zamfara Rescue and Rebuild Mission.”
His defection marks a significant shift in the political landscape of Zamfara State and could influence political alignments ahead of the 2027 general elections.
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