Economic Confidential Lecture: VP Shettima, Experts Discuss Strategies for Economic Growth and Food Security

Economic Confidential Lecture: VP Shettima, Experts Discuss Strategies for Economic Growth and Food Security

Vice President Kashim Shettima and a cross-section of stakeholders at the second Economic Confidential lecture revealed the path to Nigeria’s economic prosperity and security in food production.

At the lecture event, a book themed “Impactful Public Relations in Customs Management: The CG Wale Adeniyi Example” was also presented to the public in Abuja. Two staff writers of PRNigeria and Spokesperson Digest authored it: Mr. Kabir Abdulsalam and Maryam Na’Allah.

The dual event was organized by Image Merchants Promotion, IMPR, Limited, publishers of PRNigeria and Economic Confidential. In his remarks, Shettima first lauded the consistent efforts of PRNigeria and Economic Confidential in research and investigative journalism over the decades.

The VP said the lecture’s theme, “Leveraging Effective Communication for Revenue Generation and Economic Development,” is timely and highly relevant. He said that given that the art of governance is an incredibly arduous task, the enablement for achieving progress in governance—revenue generation—is even more challenging.

“This means that governments must continually engage with citizens through the most effective means of communication, with the style and tact necessary to demonstrate an understanding of their constituencies. Receiving feedback and embarking on a dynamic process of engagement all over again is essential,” he said.

Shettima represented by Special Adviser on Economic Matters opined that governments worldwide must be ready and able to inundate social media with positive news and information about their achievements and aspirations. “However, in this era of netizens and mass information addiction, there is also a significant level of impatience among citizens, as can be seen in the worldwide brewing protests around the cost of living crisis,” he said.

According to him, the administration of President Bola Tinubu has made profound efforts to ensure a redistribution of income in favor of the most vulnerable, as evidenced by the recent windfall taxes levied on banks.

He said: “In these 14 months, we have paid down $7 billion of inherited foreign exchange obligations while also growing our reserves to over $37 billion, an increase of about $3 billion during the same period.

“We have reduced our inherited Ways and Means advances by ₦7.3 trillion, making Nigeria perhaps the most ambitious country in the world in resolving these exposures forced mainly upon us by the COVID-19 pandemic. We have achieved a standard transmission capacity of 4,500 megawatts of electricity, up from 3,500 megawatts last year.

In his keynote address, Comptroller General of the Nigeria Customs, Bashir Adewale Adeniyi spoke on: “Facilitating Food Trade Through Efficient Customs Process.” He argued that food security is not just an agricultural but also a national security issue.

He said the federal government has implemented a number of broader economic reforms that will undoubtedly positively impact our food security. He said: “These reforms include clearing foreign exchange obligations, which facilitate the easier importation of necessary food items and agricultural inputs.

“In a bold move to address the immediate challenge of high food prices, the president has directed the removal of tariffs and other import duties on staples such as rice, wheat, and maize for the next six months. This measure aims to drive down food prices and improve accessibility for the average Nigerian.

“However, this initiative comes at a cost—conservative estimates show that we will be forfeiting over ₦200 billion in import duties due to this intervention.

“The removal of tariffs and import duties on key staples for the next six months represents a considerable sacrifice in terms of potential revenue. To put this into perspective, from 2020 to 2023, the total import value of these food items—such as rice and wheat—was approximately ₦3.8 trillion.

“These commodities generated ₦191.75 billion in customs duty and ₦561.75 billion in various levies. Now, projecting based on recent trends, we estimate that the six-month tariff suspension could result in a revenue shortfall of approximately ₦188.37 billion. This is no small sum, and it represents the government’s commitment and sacrifice to ensure food security.”

Reviewing the new book Prof Okey Okechukwu described CGC Adeniyi as a distinguished NCS officer, saying, “Impactful Public Relations in Customs Management,” by Kabir Abdulsalam and Maryam Na’Allah is truly significant.

According to Mallam Ali, the book emphasises the significance of stakeholder engagement and its role in trust-building and community engagement. “Mr. Adeniyi’s method of stakeholder engagement became a crucial tool for balancing national security with trade facilitation, highlighting his capacity for strategic engagement while managing a sensitive duty post.

“Equally, this book is about more than just Mr. Adeniyi’s leadership; it’s about managing an organization through change, even when the terrain is fraught with challenges. The author’s narratives and conclusions offer credible resources for public relations students and practitioners.”

In his welcome remarks, Alhaji Yushau Shuaib, Managing Director and Chief Executive Officer of Image Merchants Promotion Limited, IMPR, publishers of PRNigeria and Economic Confidential, explained that the twin event was organized to celebrate a phenomenal achiever in the personality of CGC Adeniyi. According to him, the recent success story of the Nigeria Customs is because they have Adeniyi, a strategic communicator, at the helm of their affairs.

Responding, Maryam Na’Allah, one of the book’s co-authors, said their “Impactful Public Relations in Customs Management,” is an effective guide to public relations, inspired by the extraordinary career of CGC Adeniyi. “His legacy as the longest-serving public relations officer and current Comptroller of Customs has given us a wealth of knowledge and experience to share.

By PRNigeria