• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

  • Fact-Check
  • Economy
    • Luanda Summit: AUDA-NEPAD Taps AI, Green Bonds as it Launches Marketplace…

      Tinubu Jets to Brazil After Japan Summit, Eyes Trade, Security Deals

      Comptroller-General of Customs, Bashir Adewale Adeniyi (MFR), hosted the Executive Chairman of FIRS, Dr. Zacch Adedeji,

      Customs and the “National Single Window” Project

      FG Earmarks N13bn to Boost Power Infrastructure in Lagos, Ogun

      Centre for Crisis Communication, CCC,

      CCC Reviews Keyamo’s Crisis Management in Aviation Disputes

  • National
    • Flood

      Flood Alert: Heavy Rains Threaten 7 Nigerian States this Weekend August…

      Officers of NCS as it rounds off its Strategic Reputation Management Campaign in Zone 'D', Bauchi

      Customs Consolidates Reforms as Reputation Campaign Wraps Up in Zone ‘D’

      CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

      Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau…

      Army soldiers security

      Mattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon…

      ACF

      Arewa Consultative Forum Engages Influencers to Amplify Northern Identity

    • Government
      • CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

        Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau…

        ACF

        Arewa Consultative Forum Engages Influencers to Amplify Northern Identity

        FG, States, LGs Share N2.001trn for July, Says FAAC

        FG Unveils Personal Income Tax Calculator Under New Reform Laws

        Saudi Arabia Conducts Life-Saving Cardiac surgeries in Kano

        Saudi Arabia Conducts Life-Saving Cardiac Surgeries in Kano

  • Security
    • Police Neutralise Kidnappers, Arrest Suspects, Recover Arms in Nationwide Crackdown

      Police Officer

      Police Raid Bandits’ Camps, Recover Arms, Arrest Suspects in Benue

      Flood

      Flood Alert: Heavy Rains Threaten 7 Nigerian States this Weekend August…

      NAF Eliminates Over 35 Terrorists at Assembly Point Near Cameroon Border

      Police Arrest 65-Year-Old Arms Trader, Suspected Chinese Illegal Miner in Anambra

  • Features
    • CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

      Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau…

      Army soldiers security

      Mattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon…

      The Arrest of Ansaru Kingpins Mahmud Muhammad Usman aka Abu Bara’a, and Mahmud al-Nigeri aka Mallam Mamuda

      Ribadu and the fall of Ansaru By Senator Iroegbu

      Fixing the Fault Lines in Nigeria’s Culture of Recognition, By Mukhtar…

      How Desperation Turns Nigerian Job Seekers Into Scam Targets By Tahir…

  • State
    • Police Neutralise Kidnappers, Arrest Suspects, Recover Arms in Nationwide Crackdown

      Police Officer

      Police Raid Bandits’ Camps, Recover Arms, Arrest Suspects in Benue

      Nigerian Navy Personnel

      Navy Dismantles Illegal Refining Site in Bayelsa

      ACF

      Arewa Consultative Forum Engages Influencers to Amplify Northern Identity

      CRUSHING BLOW: other Top Boko Haram commanders neutralized in Bita, Wigo

  • Event
    • President Bola Ahmed Tinubu

      His Death is a National Loss, Tinubu Mourns Emir of Zuru

      Umar Lauya

      Umar Lauya Declares Candidacy for NYCN Presidency, Vows to Unite and…

      The Executive Secretary/CEO of the National Sugar Department Council (NSDC), Mr. Kamar Bakrin (L), with the CEO of Legacy Sugar Company, Alh. Abubakar Isa Musa (R), during the signing ceremony.

      NSDC, New Operators Seal Landmark Development Agreements, to Produce 400,000MT of…

      Regional Vice President Western and Central Africa at the World Bank, Mr Ousmane Diagana pays a courtesy visit to Baze University

      World Bank Vice President visits Baze University, Commends Educational Standards, Assures…

      NIPR President Ike Neliaku and a recently inducted PR professional from Kano

      PHOTOS: NIPR Inducts 80 New PR Professionals in Kano to its…

    • PR Nigeria Award
  • E-Paper
Home Features Expectations for 2024, by Fredrick Nwabufo
  • Features

Expectations for 2024, by Fredrick Nwabufo

By
Fredrick Nwabufo
-
December 27, 2023
Fredrick Nwabufo
Fredrick Nwabufo

Expectations for 2024, by Fredrick Nwabufo

The year 2024 wombs the hopes, dreams, and aspirations of over 200 million people. The promises of better days, of silver linings, and of blue skies inspire hope, excite essence, rally confidence, and stroke anticipation. Parturition is expected. As it is with reproducing life, after months in the throes of contractions, life comes with a bubbling of joy and happiness. In 2024, the seeds of possibilities and of change that have been planted by the Tinubu administration will begin to gestate and sprout.

This is not to aver that 2024 will be all plain sailing without its own share of vicissitudes, but seeds do begin to germinate, and for exotic trees that rule the forest, it takes the opportune time and latitude of nature for them to rise eclipsing the skies.

2023 was a challenging year. The concerns, the disruptions, and the pangs of novelty were all palpable. But all is well that ends well. There was a good reason. It was not all for nothing. The scaffolding for a superstructure had to be forged.

In 2024, Nigeria’s inflation rate is expected to dip, and the naira strengthened. According to Central Bank of Nigeria (CBN) governor, Olayemi Cardoso: “The outlook for the domestic economy remains positive and expected to maintain the positive trajectory for 2024. Inflation pressures may persist in the short-term but is expected to decline in 2024. Exchange rate pressures are also expected to reduce significantly with the smooth functioning of foreign exchange market.”

What does this mean for hard working citizens? It means a fairer and stable economic climate, salubrious for planning and earning.

In the New Year, a slew of plans and programmes of the administration will kick in. Two of such programmes, among many other policy staples, are the Student Loan Initiative and the Consumer Credit Scheme. In June 2023, President Bola Tinubu assented to the Student Loan Bill in “fulfilment of one of his campaign promises to liberalise the funding of education’’.

The bill, which was sponsored by the Speaker of the 9th House of Representatives, Rt. Hon Femi Gbajabiamila, aims to provide easy access to higher education for all Nigerians through interest-free loans.

Some of the cardinal provisions of the Act are: (A) ‘’All students seeking higher education in any public institution of higher learning in Nigeria shall have equal right to access the loans under this Act without any discrimination arising from gender, religion, tribe, position, or disability of any kind, and (B) ‘’The loans referred to in this Act shall be granted to students only for the payment of tuition fees.’’

Read Also:

  • Police Neutralise Kidnappers, Arrest Suspects, Recover Arms in Nationwide Crackdown
  • Police Raid Bandits’ Camps, Recover Arms, Arrest Suspects in Benue
  • Arewa Economic Forum Chairman Loses Mother

In November, President Tinubu announced during his presentation of the 2024 budget proposals that the Student Loan Scheme as well as other education-specific initiatives would become operational in 2024 to address the long-standing issues in the education sector, and to create a more sustainable model of funding for tertiary education. The Tinubu administration is prioritising education with N2.2 trillion proposed for the sector in the 2024 Appropriation Bill.

A defining quotient of the administration is the preponderance of people-tailored policies and programmes. Nigerians are at the heart of the decision engineering of the leadership. They are the nucleus operating the cell of governance.

The Consumer Credit Scheme is one of the programmes to expect in 2024. According to the National Bureau of Statistics (NBS), about 70 percent of bank account holders in Nigeria lack access to credit. The Presidential Council on Industrial Revitalisation recently set up a Technical Working Group to develop the requisite framework for enhancing consumer credit in Nigeria and to achieve the country’s targeted $1 trillion economy by 2026.

According to the Minister of Industry Trade and Investment, Doris Uzoka Anite, an efficient consumer credit system is a highly essential component of a burgeoning economy, as it works to improve market efficiency and fill in gaps in consumption and productivity by providing consumers immediate access to credit and allowing them to make purchases ahead of time.

“Nigeria has numerous financial institutions and credit schemes, but many Nigerians still face substantial hurdles in accessing credit due to stringent eligibility criteria, high-interest rates, identity-related challenges, fragmented data sources for proof of livelihood and financial worth, a lack of awareness or understanding of credit processes, and inadequate credit available for lending,” she said.

Reviewing the government’s strides in 2023 and prospectus for 2024 on Channels Television’s ‘News-Night’, Chief Ajuri Ngelale, Presidential Spokesman, said of the Consumer Credit Scheme: ‘’There are a few things that Nigerians can be hopeful about with respect to the turnaround that is happening in the country. This is a direct consequence of the patriotic resolve of our people to allow Mr President to take these tough decisions. First, the over N1 trillion that is saved from the removal of petrol subsidy is a part of financing that we are using to fund a student loan programme. Secondly, the savings from the removal of petrol subsidy will go towards the establishment of a consumer credit system, for the first time in our history. What Mr President is doing is not only mobilising government resources, but also working closely with the private sector to re-engineer our credit system.’’

Essentially, more people-focused programmes customised for Nigerians of variegated class are expected to come on stream in 2024. The Nigerian people are the predominant concern of the administration.

Fredrick Nwabufo is Senior Special Assistant to the President on Public Engagement

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Central Bank of Nigeria
  • Olayemi Cardoso
  • President Bola Tinubu
Previous articleMilitary remains committed to ending criminality – CDS Musa assures
Next article‘An Uncommon, Courageous Statesman’ – Tinubu Pens Emotional Tribute to Akeredolu
Fredrick Nwabufo
Fredrick Nwabufo
Xing

RELATED ARTICLESMORE FROM AUTHOR

Ibrahim Yahaya Dandakata of Arewa Economic Forum

Arewa Economic Forum Chairman Loses Mother

Flood

Flood Alert: Heavy Rains Threaten 7 Nigerian States this Weekend August 24-24

CG Custom Bashir Adewale Adeniyi and Zacch Adedeji

Is Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau A. Shuaib

Army soldiers security

Mattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon Aremu Abiodun

Police Recover arms from Boko Haram in Borno

Man, 65, arrested for illegal arms deal in Anambra – Police

Delegations Arrive Abuja for Inaugural African Defence Chiefs Summit

Troops of Operation FANSAN YANMA

Troops Neutralise 7 Bandits, Recover Motorcycles in Katsina

CRUSHING BLOW: other Top Boko Haram commanders neutralized in Bita, Wigo

Rotimi Pedro, Karimah Bello, Stella Din Jacob, Sophia Essahmed

PHOTOS: Finally, President Tinubu Confirms Pedro as NTA DG, Announces Three Female Executive Directors

Nigerian Military Refutes Misinterpretation of CDS Self-Defence Comment

Anambra Police Nab Suspected Vandals, Recover Transformer Parts, High-Tension Cables

Tinubu Jets to Brazil After Japan Summit, Eyes Trade, Security Deals

Recent Posts

  • Police Neutralise Kidnappers, Arrest Suspects, Recover Arms in Nationwide Crackdown
  • Police Raid Bandits’ Camps, Recover Arms, Arrest Suspects in Benue
  • Arewa Economic Forum Chairman Loses Mother
  • Luanda Summit: AUDA-NEPAD Taps AI, Green Bonds as it Launches Marketplace for Africa’s Infrastructure Push
  • Flood Alert: Heavy Rains Threaten 7 Nigerian States this Weekend August 24-24
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Police Neutralise Kidnappers, Arrest Suspects, Recover Arms in Nationwide CrackdownPolice Raid Bandits’ Camps, Recover Arms, Arrest Suspects in BenueArewa Economic Forum Chairman Loses MotherLuanda Summit: AUDA-NEPAD Taps AI, Green Bonds as it Launches Marketplace for Africa’s Infrastructure PushFlood Alert: Heavy Rains Threaten 7 Nigerian States this Weekend August 24-24NAF Eliminates Over 35 Terrorists at Assembly Point Near Cameroon BorderPolice Arrest 65-Year-Old Arms Trader, Suspected Chinese Illegal Miner in AnambraCustoms Consolidates Reforms as Reputation Campaign Wraps Up in Zone ‘D’Navy Dismantles Illegal Refining Site in BayelsaIs Zacch Adedeji Building Bridges for Nigeria’s Revenue Future? By Yushau A. ShuaibMattress of Terror: Can Nigeria Ever Be Truly Secure? By Haroon Aremu AbiodunArewa Consultative Forum Engages Influencers to Amplify Northern IdentityMan, 65, arrested for illegal arms deal in Anambra - PoliceDelegations Arrive Abuja for Inaugural African Defence Chiefs SummitTroops Neutralise 7 Bandits, Recover Motorcycles in Katsina
X whatsapp