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Senate moves to create N1.6billion Council for Economic Diversification

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Primaries: lawan sympathises with senators who lost return ticket

 

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 .

Politics

ACF Pledges Support For Northern Presidential Candidates Ahead Of 2027 Elections

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The Arewa Consultative Forum (ACF) has announced its decision to back Northern candidates in the 2027 general elections, citing the urgent need to address the worsening socio-economic and security challenges facing the region.

In a communique issued after its National Executive Council meeting in Kaduna on Wednesday, the forum expressed deep concern over the economic state of Northern Nigeria under President Bola Ahmed Tinubu’s administration, attributing the region’s struggles to flawed governance and poor policy decisions.

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The ACF criticized the Federal Government’s economic policies, describing them as detrimental to the livelihoods of Northern citizens.

According to the communique, signed by the forum’s National Publicity Secretary, Professor Tukur Muhammad-Baba, the policies have compounded the already dire economic conditions in the region.

The statement reads, “Arewa people remain at a great disadvantage, being already worse off economically compared to other parts of Nigeria. While economic reforms are indeed desirable, they should not impoverish the same people they are meant to serve. Policies must have a human face.”

The forum noted that the North faces chronic food insecurity, limited educational and vocational opportunities for youth, and a heavy reliance on small-scale economic activities.

“Livelihoods are currently dependent on micro activities. The region faces acute and chronic food insecurity; its youths lack education and skills training. Daunting as these may be, they can be reversed. The time to think big is now,” the communique emphasized.

The ACF also addressed the pervasive insecurity in the North, warning that the situation has begun to erode public confidence in the government.

“Security is an irreducible minimum of human existence. In this regard, insecurity in its various manifestations remains the most worrisome challenge of Arewa people, that has even started to corrosively undermine the authority of government,” the forum stated.

It condemned the government’s response to the crisis, arguing that the Federal Government has failed to meet its primary duty of safeguarding lives and property.

“That those whose responsibility it is to provide security will be saying they are doing their best is unacceptable,” the communique said. “The minimum duty of government is to safeguard life and property, and doing anything less is a failure.”

The ACF faulted what it described as the “flawed leadership selection process” under the Tinubu administration, claiming it has elevated individuals without the requisite competence or experience to key positions.

It urged the Federal Government to “review, reassess, reevaluate, and re-order the direction of its economic policies with a view to giving it the needed human face.”

Looking ahead to the next general elections, the ACF pledged its support for Northern politicians who demonstrate a clear commitment to addressing the region’s challenges and fostering national development.

“Notwithstanding the parlous state of Arewa’s glaring economic conditions, the policies of the current Federal Government have continued to make matters much worse,” the communique stated.

 

 

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Politics

No Room For Abandoned Projects – Ganduje Warns Aiyedatiwa

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The National Chairman of the All Progressives Congress (APC), Abdullahi Ganduje, has urged Ondo State Governor Lucky Aiyedatiwa to prioritize completing ongoing projects and avoid leaving any abandoned during his second term in office.

Ganduje made the call on Wednesday at the APC’s national secretariat in Abuja after the Independent National Electoral Commission (INEC) presented Certificates of Return to Aiyedatiwa and his deputy, Adelami Olaide.

Governor Aiyedatiwa’s re-election was marked by a sweeping victory in all 18 local government areas of the state during last Saturday’s governorship election.

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Ganduje praised the outcome, describing it as a testament to the people’s confidence in the APC-led administration.

“I am happy about the landslide result. The election is not the effort of the elite and middle class alone; it is also through the effort of the grassroots,” Ganduje said. “Out of 203 wards, APC won 202, losing only one ward. This is a victory embraced by all.”

Ganduje highlighted the importance of continuity and urged the governor to leverage his experience from the previous administration led by the late Rotimi Akeredolu.

“As a deputy, you knew how projects were started by your late governor. You were part of it, also as a governor for 10 months, and now as a re-elected governor. For the next four years, you will continue,” he said.

“You know the terrains, geography, and physical landscape of all 18 local government areas. Use these insights to carve out projects that will improve the lives of the Ondo people.”

Meanwhile, Ondo APC Chairman, Ade Adetimehin, commended Ganduje’s leadership and strategic direction, which he credited for the party’s success in the election.

He also expressed gratitude to President Bola Tinubu for his unwavering support for Aiyedatiwa’s candidacy, despite internal opposition from some party stakeholders.

“We have finally killed PDP in Ondo,” Adetimehin declared. “Most of the leaders of that party have defected to the APC. With the landslide victory in this election, it is clear to the whole world that there is no PDP in Ondo.”

He further described Ganduje as a mentor whose leadership had been instrumental in uniting the party and ensuring victory at the polls.

Governor Aiyedatiwa, who succeeded Akeredolu and completed his tenure before securing re-election, has pledged to focus on delivering on his mandate and completing critical projects in his second term.

 

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INEC Presents Certificates Of Return To Ondo Governor-Elect, Aiyedatiwa

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The Independent National Electoral Commission (INEC) has formally issued certificates of return to Ondo State Governor-elect Lucky Aiyedatiwa and his deputy, Olayide Adelami, following their victory in Saturday’s governorship election.

The presentation ceremony took place on Wednesday at INEC headquarters in Abuja, where the commission’s National Commissioner for Ondo State, Kunle Ajayi, handed over the certificates.

Biztellers reports that Aiyedatiwa, the candidate of the All Progressives Congress (APC) and incumbent governor, emerged victorious in the election, securing 366,781 votes to defeat his closest rival, Agboola Ajayi of the Peoples Democratic Party (PDP), who garnered 117,845 votes.

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The results were announced in Akure on Sunday by the Returning Officer, Professor Olayemi Akinyemi, Vice-Chancellor of the Federal University, Lokoja.

Election observers described the polls as peaceful and credible, commending INEC for improved logistical arrangements.

The event was attended by top APC officials, including the party’s National Chairman, Abdullahi Ganduje, Ogun State Governor Dapo Abiodun, and other party members.

Ganduje hailed the outcome as a triumph for democracy in Nigeria.

“Since 1999, we have been enjoying democracy, and we always fine-tune it to ensure it is fair, free, and decent, so that it is the vote of the people that counts,” Ganduje said.

PDP Rejects Results

Despite widespread praise for the conduct of the election, the PDP has rejected the outcome, describing it as fraudulent. Its candidate, Ajayi, vowed to challenge the results in court.

Aiyedatiwa Pledges Better Leadership

Speaking after receiving his certificate of return, Aiyedatiwa expressed gratitude to the people of Ondo State for renewing his mandate.

“The mandate you have just renewed via your huge votes across 18 LGAs where we won convincingly has placed a burden on me to serve you better than I did before now,” he said.

Aiyedatiwa initially assumed office in December 2023 following the death of his predecessor, Rotimi Akeredolu.

 

 

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