National

The Federal Government will provide incentives and the necessary logistics support to investors whose areas of interest are in the development of the agriculture and energy sectors as well as industrialization. These are also the major execution priority areas of the Economy Recovery and Growth Plan (ERGP) being developed by Government to get the country’s economy out of recession and put it on a path of growth and sustainable development. Senator Udoma Udo Udoma, the Minister for Budget and National Planning, told a group of foreign investors coordinated by the Renaissance Capital Group, on Tuesday in Abuja, that although government will appreciate investments in any sector of the country’s economy, emphasis of government for now is on areas that will lay a solid foundation for self sufficiency in food production and raw materials’ provision, power and petroleum resources development as well as industrialization. The Minister explained that these three, coupled with massive infrastructure development, will give the economy a head start towards growth and sustainability as agriculture will not only provide food security but also raw materials to feed local industries; and in the process reduce demand on foreign exchange on imported raw materials. Investment in the energy sector will boost the economic well-being of the country as power is a major driver of industrialization. Investment in industrialization especially using local raw materials will have a ripple effect on all sectors of the economy including aiding the growth of small businesses, enhancing the agriculture value chain and providing expertise to small businesses, he added. He said government was committed to achieving the proposals of the recovery and growth plan through the Ease of Doing Business initiative and by assisting investors with necessary incentives which will be tied strictly to performance and results rather than on intentions, as has been the case in the past.

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The primary objective of government’s fiscal stimulus plan is not to sell off all major critical national assets but to source immediate funds to...

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Budget and National Planning Minister, Senator Udoma Udo Udoma has reassured Nigerians and the International Community that the Country will achieve economic stability and will exit economic recession in 2017. Giving the assurance in his office in Abuja when he received in audience, an eleven-man team of the National Executive Council of the Nigerian Institute of Quantity Surveyors led by its President Mrs. Mercy Iortyer who paid the Minister a courtesy call, Senator Udoma emphasized that the 2017 budget is designed to achieve stability, get the country out of economic recession, and set the platform for economic growth in the coming years. According to the Minister, the thrust of the Federal Government’s recovery plan is to diversify the economy, strengthen the agricultural production base and its value chain in order to achieve self sufficiency in food production, intensify infrastructural development, create the enabling environment for manufacturing, create jobs, stabilize and strengthen the value of the Naira. Explaining further, the minister said Government is prioritizing infrastructural development, which is evident in the 2017 budgetary allocations especially for road construction, airports rehabilitation, as well as power and rail infrastructure.

The Federal Government has urged the Chinese Government and private companies’ handling key infrastructural development projects in Nigeria to speed up the execution of such projects in order to accelerate the nation’s quest for economic recovery and rapid industrialization. Budget and National Planning (BNP) Minister, Senator Udoma Udo Udoma made the request in Abuja when the Chinese Business delegation led by the country’s Ambassador to Nigeria, His Excellency ZHOU PINGJIAN met the Minister on a working visit. Senator Udoma Udo Udoma told the Chinese delegation that timely completion of the Mambila Hydropower project, the National Rail Line project and key trunk ‘A’ Roads across the country would boost Nigeria’s economy and increase her Gross Domestic Product (GDP). Speaking earlier, leader of the Chinese delegation and that country’s Ambassador to Nigeria, His Excellency ZHOU PINGJIAN told the Minister that the delegation’s visit is a follow up to the recent visit of the Chinese Foreign Affairs Minister; and that China stands ready to fulfill all her obligations to Nigeria on all agreements reached in respect of Nigeria’s critical infrastructure.

Hon. Abike Dabiri-Erewa, Senior Special Assistant to the President on Foreign Affairs and Diaspora for the umpteenth time has condemned the incessant extra judicial...

The National Open University of Nigeria (NOUN) is hosting the 12th Nigerian Universities Staff Sports Association  (NUSSA) Games slated for the 8th - 16th...

Buhari Declares State of Emergency on WASH Sector President Muhammadu Buhari has formally declared a state of emergency on Nigeria’s Water Supply, Sanitation and Hygiene...

Vice President Prof. Yemi Osinbajo, SAN has declared that the inability to clearly articulate a vision rather than poverty of ideas and capacity is...

Muslim Group Hosts National Discourse on Food Security .....  Osinbajo, Aregbesola , others expected The Vice President, Professor Yemi Osinbajo and former governor of Osun State,...

NOUN Elects Joy Eyisi its First Female Deputy Vice-Chancellor Professor Joy Eyisi on Thursday assumed duty as the new Deputy Vice-Chancellor (Academics) of the National...

Vice President Osinbajo witnesses agreement at Addis Ababa IGAD-PLUS summit*South Sudan President initials the deal, final signature expected soonAfter signing as a witness to...