Nigeria’s private sector continued its expansion in February, with business conditions improving for the third consecutive month, according to the latest Purchasing Managers’ Index (PMI) data released by Stanbic IBTC.

The headline PMI figure rose to 53.7, up from 52.0 in January, marking the strongest improvement in business conditions since January 2024 indicating a robust expansion in output, new orders, and purchasing activity, driven by increased demand and moderating inflationary pressures.

The increase was driven by rising output, new orders, and purchasing activity, as demand showed signs of strengthening. Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.

According to the Stanbic IBTC PMI report, rates of expansion in output, new orders and purchasing activity all quickened as demand picked up and inflationary pressures showed signs of moderating.  “Output was up in agriculture, manufacturing, services and wholesale and retail, although in wholesale and retail the rise was only fractional. New orders also increased at a marked pace, with the latest rise the most pronounced in just over a year.” the report stated

Customers were reportedly more willing to commit to new projects. Signs of strengthening demand coincided with moderating inflationary pressures. Overall input costs increased at the slowest pace in ten months, although the pace of inflation remained elevated amid higher prices for raw materials and a rise in staff

Muyiwa Oni, Head of Equity Research West Africa at Stanbic IBTC Bank commenting on the latest PMI reading said “activity in Nigeria’s private sector improved for the third consecutive month with the latest PMI reading of 53.7 points in February at its highest level since January 2024 (54.5 points).

“A relatively stable exchange rate and moderation in fuel prices are supporting the ease in inflationary pressures, which in turn helped strengthen consumer demand in the month. Thus, new orders increased for the fourth consecutive month, with survey participants noting a greater desire on the part of customers to commit to new projects.

“In line with the increase in new orders, output also increased sharply in February as the output index settled at 56.9 points from 53.7 points in January. That said, input price inflation eased further in February to its weakest level since April 2024. However, about 39.0 per cent  of respondents increased their output prices in the month, with less than 1.0 per cent  lo wering their charges.

“Nigeria’s real GDP growth improved further in Q4:24, rising by 3.84 per cent  y/y, from 3.46 per cent  y/y in Q3:24. Growth in Q4:24 was the highest since Q4:21 when this economy grew by 3.98 per cent  y/y in real terms. Q4:24 GDP now brings 2024 full-year growth to 3.40 per cent , from 2.74 per cent  in 2023, supported by both the oil and the non-oil sectors.

“In terms of contributions to the overall GDP growth in Q4:24, Services continue to dominate with a 79.0 per cent  contribution to the country’s GDP growth (same as Q3:24), followed by Agriculture with an 11.9 per cent  contribution while Industries contributed the remaining 9.0 per cent  of the real GDP growth in the review quarter.

“The non-oil sector of the Nigerian economy is now poised to improve further in 2025 as the lingering FX stability and improved FX liquidity bodes well for the real sector activities, including manufacturing, trade and real estate. This, in addition to the anticipated reduction in borrowing costs should further support the growth of the non-oil sector in 2025.

Hon. Chibuike Emmanuel, special assistant on Energy to the speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, has called for youth inclusion and innovation in Nigeria’s energy sector.
He also reaffirmed Nigeria’s commitment to expanding its energy sector to drive Africa’s industrial and economic transformation.

Speaking at the ongoing Nigeria International Energy Summit (NIES) 2025 in Abuja, Chibuike emphasised the critical role of innovation, sustainability, and youth inclusion in shaping the sector’s future.

He urged key energy stakeholders to develop innovative strategies that will significantly reduce the industry’s carbon footprint while ensuring sustainable energy growth.

Chibuike particularly commended NNPC Ltd. and First Exploration and Petroleum Development Company Ltd. for their groundbreaking achievement in reducing routine flaring of associated gas (AG) by 96 percent from the Anyala (OML 83) and Madu (OML 85) fields.

“This remarkable feat is a testament to the positive strides we are making toward environmental sustainability and energy efficiency in Nigeria. It also highlights the importance of collaborative efforts in achieving our national energy objectives,” he said.

Furthermore, he emphasised the need for a more youth-inclusive approach within the energy sector, stressing that the next generation must be actively engaged in decision-making and innovation to ensure long-term sustainability.

“Nigeria’s energy future lies in the hands of young, dynamic minds. We must create platforms that encourage their participation in energy policies, research, and development,” he added.

He further conveyed the unwavering support of his principal, Tajudeen, who remains passionate about maximizing Nigeria’s energy potential as Africa’s foremost oil and gas producer.

“The Speaker strongly believes in leveraging legislative support to drive investments, innovation, and sustainable practices in the energy sector,” he affirmed.

Businessman and former presidential candidate, Dr. Gbenga Olawepo-Hashim, has reaffirmed his commitment to supporting development projects that improve the quality of life for Nigerians.

He stated this when he commissioned a newly constructed one-kilometer asphalt road in Ifedolapo community in the Pipeline area of Ilorin, Kwara State, a statement by his media office said.

The commissioning ceremony was performed by a former chairman of the Nigeria Governors’ Forum (NGF) and former governor of Akwa Ibom State, Dr. Victor Obong Attah, and was attended by a gathering of top political and business leaders from across the country.

Among the dignitaries present were former governor of Jigawa State and former minister of Foreign Affairs, Alhaji Sule Lamido; former Speaker of the Oyo State House of Assembly, Hon. Asimiyu Alarape; and chairman of Sobi FM, Mallam Lukman Mustapha.

Others included former Kwara State Commissioner for Water and Women Affairs, Dr. Mopelola Abdulmalik Bashir, and former Commissioner for Housing, Hon. Akaje Ibrahim, among others.

In his remarks, Dr. Olawepo-Hashim emphasised the importance of private sector involvement in infrastructure development, noting that quality roads are essential for economic growth and community well-being. He reaffirmed his commitment to supporting development projects that improve the quality of life for Nigerians.

Speaking at the event, Dr. Victor Obong Attah commended Olawepo-Hashim for his vision and philanthropic efforts, describing the road as a significant contribution to the socio-economic development of the area.

Former governor of Jigawa State, Alhaji Sule Lamido, also praised Gbenga Olawepo-Hashim for the road project.

He lightheartedly renamed the road “Gbenga Residential Area (GRA),” stating that he expected nothing less from a man of Olawepo-Hashim’s stature.

He further noted that people in Kwara did not fully recognize Gbenga’s value as much as those outside the state do, emphasizing his national significance as a leader.

Residents of Ifedolapo community, led by their chairman, Alhaji Gani Adeshina, expressed  gratitude, highlighting the road’s impact in easing transportation, boosting local businesses, and improving access to essential services.

The newly commissioned one kilometer road is an addition to the various micro-level major roads Olawepo-Hashim has mended over time, linking Excellence Hall to the newly constructed Danialu Awolowo Road.

This initiative further solidifies Dr. Olawepo-Hashim’s reputation as a leader committed to national development and community empowerment.

In a major development poised to transform Nigeria’s dairy industry, the federal government and Nestlé Nigeria have launched a demonstration dairy farm at the Paikon Kore Grazing Reserve in Gwagwalada, Abuja.

The initiative, inaugurated by the minister of Livestock Development, Idi Mukhtar Maiha, underscores a groundbreaking public-private partnership aimed at boosting local milk production, introducing technological advancements, and empowering pastoralists.

This report unveils fresh insights into the multimillion-naira investment, advanced farming technologies, and the transformative impact on local pastoral communities.

Speaking during the event, minister Maiha described the project as a pivotal step in repositioning Nigeria’s livestock sector.

“This project demonstrates the power of collaboration between the public and private sectors. It offers a sustainable solution to Nigeria’s dairy challenges and aligns with the government’s commitment to diversify the economy, create jobs, and enhance food security,” he stated.

The minister emphasised that the success of the farm provides a model for similar projects across the country, stressing that the government would continue to support initiatives that address key challenges such as infrastructure, access to finance, and veterinary services.

The demonstration dairy farm was developed in collaboration with 2Scale, CBI Innovations Limited, and the Federal Capital Territory Administration (FCTA) as part of Nestlé’s Livestock Development Project.

Since 2019, Nestlé has invested over N1.8 billion in the Paikon Kore Grazing Reserve project. This strategic investment has transformed the region, with daily milk collection rising from 200 liters in June 2021 to an impressive 6,000 liters today.

Managing director of Nestlé Nigeria Plc, Wassim Elhusseini, described the project as a testament to the company’s commitment to fostering agricultural development and creating shared value.

“We are deeply committed to strengthening Nigeria’s dairy sector. This farm is a clear demonstration of our dedication to empowering local farmers, supporting sustainable practices, and contributing to food security,” Elhusseini said.

CBI Innovations Limited’s managing director, Olusoji Apampa, highlighted the technological advancements at the farm, including semi-automated milking systems, sustainable waste management practices, and improved animal feed solutions.

“This project marks a new beginning for Nigeria’s dairy industry. With cutting-edge technology and a commitment to excellence, we are setting a standard that will inspire similar initiatives across the country,” Apampa said.

A facility tour revealed modern infrastructure designed to improve productivity and efficiency. Breed improvement through artificial insemination has also led to a significant increase in the animal population, which grew from 20 to 71 over the past year and eight months.

Beyond technological advancements, the project has had a profound impact on local pastoralists.

Farmers in and around the Paikon Kore Grazing Reserve have received extensive training in modern dairy practices, helping them adopt sustainable and productive methods.

“Before this intervention, we barely made ends meet. With the training and resources from Nestlé, our milk production has tripled, and our income has significantly improved.”

The initiative is helping reduce the challenges pastoralists face, from milk storage to access to modern milking facilities.

The farm’s ambitious target to aggregate 30,000 liters of milk per day by November 2027 demonstrates the transformative potential of public-private partnerships in reshaping Nigeria’s agricultural landscape.

The demonstration dairy farm stands as a model for sustainable agricultural development, offering hope for greater food security and job creation for generations to come.

The World Arts, Culture and Tourism Congress (WACT CONGRESS) has said the Nigeria Tourism Infrastructure Investment Summit will attract investment into the sector.

The Summit, set to take place in Abuja from April 8 to 12, 2025, will serve as a prelude to the ambitious Culture Olympics project, a joint initiative by the Osun State Tourism Board and Atkingdom International Foundation.

Since its unveiling on May 2, 2024, the WACT CONGRESS has received strong support from government agencies, including the Federal Ministry of Art, Culture, Tourism, and the Creative Economy.

The international significance of the event was further emphasised by the presence of notable dignitaries such as director of Economy, Trade and Investment at the Ministry of Foreign Affairs, Ambassador Bolaji Akinremi; director of ECOWAS Affairs at the Ministry of Foreign Affairs, Ambassador Olawale Awe; among others.

Also, delegates from over 50 countries and all 36 states of Nigeria are expected to participate.

Director-general of WACT CONGRESS, Prince Dr. Yomi Otukoya highlighted the event’s importance in shaping the future of Nigeria’s cultural tourism sector, saying that this summit is not just an event; it is a legacy-building initiative that will redefine the way Nigerian and African culture is experienced globally.’

Otukoya expressed enthusiasm for the global collaboration, stating that the event will provide a unique platform for investors, cultural enthusiasts, and tourism stakeholders to engage in transformative discussions.

The PR coordinator of WACT CONGRESS, Armstrong Tillie revealed that, “a special delegate team will embark on a global Stakeholder Awareness Tour between February and March 2025. The tour will cover key locations in the USA, Canada, Australia, the UK, Italy, Brazil, and South Africa to mobilise participation and explore partnership opportunities.

“The summit is expected to attract prominent figures, with Nyesome Wike serving as the chief host, while the Minister of Art, Culture, Tourism, and the Creative Economy, Hannatu Musawa, is set to deliver the keynote address.”

Tillie added that “the Nigeria Tourism Infrastructure Investment Summit is expected to be a milestone event, driving significant investment and positioning Nigeria as a leading cultural tourism destination.”

The Trade Union Congress of Nigeria (TUC) has expressed concerns over certain provisions in the proposed Tax Reform Bills, warning that some changes could negatively impact the nation’s economy.

TUC president, Comrade Festus Osifo, made the congress’s position known in a statement yesterday, stating that assigning the collection of royalties in the oil and gas industry to the Nigeria Revenue Service (NRS), a function currently handled by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) could undermine investors’ confidence in the sector.

While the TUC welcomed the federal government’s decision to maintain the VAT rate at 7.5% and ensure continued funding for TETFUND and NASENI, the labour leader called for the need to address unresolved concerns, particularly the proposed shift in royalty collection responsibilities.

The labour centre warned that transferring the role of royalty collection from NUPRC to NRS could result in significant revenue losses due to the technical nature of the task.

Osifo further explained that royalty determination and reconciliation require specialised expertise in oil and gas operations, which he noted that NRS currently lacks.

The TUC also advocated increasing the tax exemption threshold from N800,000 per annum to N2.5 million to relieve low-income earners.

The congress argued that this would help alleviate the economic hardships faced by many Nigerians and enhance their disposable income.

Osifo commended the inclusion of a derivation component in VAT distribution among the three tiers of government and described it as a move that could stimulate productivity at the sub-national level and reduce Nigeria’s dependence on rent-seeking economic models.

 

He said, “The proposed bill assigning royalty collection to NRS appears beneficial on the surface but would most likely result in significant revenue losses for the government.

 

It could also create regulatory burdens, increase compliance costs for industry players, and reduce investor confidence due to overlapping functions and inefficiencies between NUPRC and NRS”.

 

“While we deeply appreciate the federal government’s efforts to listen and adjust to our advocacy, we still advocate that the above concerns be considered and adopted in the Tax Reform Bill, they will be highly beneficial to the government and Nigerian populace.

 

“The Trade Union Congress of Nigeria has a shared responsibility to promote policies that improve the lives of Nigerians, including workers. We believe that proactive measures when implemented, benefit citizens to the maximum extent and are evidence of great and sincere leadership,” the statement reads.

 

Governor of Sokoto State, Ahmed Aliyu, has stated his resolve to revive the state’s mining sector.
The governor stated this while receiving members of the National Miners Association during an interactive meeting with state government officials.

The governor, who was represented by the commissioner for solid minerals development, Alhaji Yusuf Muhammad Maccido, disclosed that a contract has already been awarded to revive the miners’ market in the state.

According to him, solid minerals in the state would be mined to add value to the government’s economic projections.

Maccido stated that reviving the miners’ markets was a step towards restoring the centre’s lost glory, adding that it would help coordinate mining activities in the state.

He also disclosed that with the reactivation of the market, the government would be able to monitor miners’ activities to ensure peaceful management of the sector.

He said Governor Aliyu was determined to revive the mining sector, adding that this vision informed his decision to approve a contract to purchase vital mining equipment to change the narrative before the end of the year.
Maccido, who described the interactive meeting as timely, said it would complement his initiative to develop the ministry to compete with its counterparts in Kebbi and Zamfara states.

While thanking association members, the commissioner promised to carry them along so that he could succeed in his assignment.

In separate speaking, Ibrahim Muhammad Dan Yaro, national officer of the miners association, Ibrahim Garba Marnona, and Tippers Shu’aibu Musa, state chairmen of gypsum Mainasara Asarakkawa Miners, told the commissioner that they were in his office to congratulate him on his appointment as commissioner for solid minerals development in the state.

They assured him of their sustained support for him to succeed in his new assignment.

The Nigerian telecommunications industry faces a critical crossroads, as the CEO of 9mobile, Obafemi Banigbe, has issued a stark warning about the sector’s sustainability.

Speaking to journalists, amidst debates over a proposed tariff increase, Banigbe called attention to the urgent need for substantial infrastructure investment to ensure continued quality of service. Banigbe highlighted the sector’s indispensable role in Nigeria’s economy, noting its contribution to GDP and its pivotal position in driving the nation’s digital transformation.

Despite these achievements, he painted a grim picture of the challenges posed by Nigeria’s current macroeconomic climate, including runaway inflation and severe currency devaluation.

“With the Naira devaluation from N400 to over N1,500 in just two years, our operational and capital costs have skyrocketed, as most are tied to foreign currencies. Meanwhile, our revenues are in local currency, creating a widening gap that threatens the industry’s financial stability,” Banigbe explained.

This economic strain, he argued, has forced telecom operators to rely heavily on borrowing, a practice he described as unsustainable. “For an industry to thrive, it must generate enough revenue to cover costs and fund reinvestment. Without this, service quality deteriorates, customers suffer, and the sector becomes unsustainable,” he cautioned.

Banigbe did not shy away from addressing the controversial call for higher tariffs, acknowledging the public’s concern over affordability. However, he emphasised that failing to adjust pricing could jeopardise the entire ecosystem. Drawing on 9mobile’s experience, he pointed out that, underinvestment in recent years has already led to noticeable declines in service quality, driving customers to competitors.

“We are at a tipping point. Without immediate action to balance affordability with sustainability, the industry risks collapsing under its own weight, leaving millions without reliable communication services,” Banigbe warned. Banigbe called for a collaborative approach, urging policymakers, operators, and stakeholders to prioritise the survival and growth of the telecom industry.

“This is not just about tariff increases; it’s about securing the future of a sector that underpins every aspect of our economy. We must act now to ensure we have the infrastructure and resources needed to deliver the services that Nigerians expect and deserve,” he recommended.

The Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA) has voiced serious concerns regarding economic imbalances in Nigeria, particularly highlighting the adverse effects of high inflation and borrowing costs on the private sector.

NACCIMA president, Dele Kelvin Oye, yesterday, emphasised that the current economic climate, characterised by hyperinflation and currency devaluation, is unsustainable and detrimental to business operations. He urged the government to implement urgent reforms aimed at stabilising the economy, reducing interest rates, and fostering a more conducive environment for private sector growth. Oye called for collaborative efforts between the government and private sector to address these pressing issues effectively.

(NACCIMA) has called for urgent economic reforms to address imbalances threatening the private sector in the country.

The Association said fresh key fiscal policies have become necessary following unsatisfactory economic performance of 2024 especially as it affects the private sector.

Oye, said all data, metrics and statistics have confirmed that the Nigerian private sector bore fully, the negative burdens of the nation’s current economic reforms, facing very harsh conditions including high inflation, increased borrowing costs, and currency devaluation.

Oye, who emphasised the urgent need for reforms to avert further economic strain on the private sector as the New Year begins, noted that Nigeria is a country with huge potential, innovative private sector minds, capital and opportunities, and deserves a listening economic team and team players who must recognise the private sector as stakeholders.

According to him, “We should agree that the 2024 economic performance was unsatisfactory for the private sector. All data, metrics and consequent statistics confirm that the Nigerian private sector has borne fully, the negative burdens of the current economic reforms.

“While in contrast, the Nigerian Public sector continues to thrive and expand. All economic benefits of the recent economic reforms have been translated to the public sector through high capital transfers and revenues. The private sector faced higher inflation, higher cost of borrowing/repayment for existing loans, the 2.4 billion USD CBN unpaid forwards, currency devaluation and higher costs in all sectors of the economy.

“This continued imbalance caused by increased public sector expenditure has destroyed value in the private sector due to excessive fiscal deficits which are financed through government borrowing at very high unsustainable interest rates. We are therefore making recommendations and suggestions that may be considered in the short to medium term.”

He went on to say: “Fiscal deficits arise when public sector expenditure exceeds public sector income. The funding of these fiscal deficits through borrowing results in high interest rates and high inflation.

“The solution to high interest rates and high inflation is for the public sector to spend less and to start becoming an efficient productive unit.

“We also need to debunk the myth of the government earning more revenue under the pretext of improved productivity. For the avoidance of doubt, payment of customs duties and taxation are not due to improved government productivity.

“These revenues are purely private sector revenues which constitute a transfer of wealth and capital from the productive private sector to an ever expanding unproductive public sector. The public sector does not own factories nor does it produce any goods and services sold to the customers. Rather it extracts value from the citizens through regulatory fiat. Awarding contracts is not the same as enhancing production.”

Oye added, “For 2025, the expenditure framework is skewed towards huge capital transfers to certain sectors which will not add value to the national wealth. The payment of high interest rates to local and overseas creditors regardless of asset class is close to financial “harakiri”. Financial assets (loans) should be created and counterbalanced by equivalent investment in productive assets which are expected to repay the loans.

“If these assets are offloaded to the capital markets, it will be possible to transfer many unproductive public sector loans off balance sheet thereby unburdening the government from excessive borrowing. Please note we do not advocate transferring public monopoly to private monopoly or creation of private uncompetitive markets.

“Government should learn from past experience and avoid engaging in new ventures that will create further bad loans. Liquidity, lower interest rates and regulation of public sector borrowing by the Central Bank.

“Aggressive repayment of domestic loans using the excess revenues will result in lower interest rate payments which will lead to more cash flow for FAAC and lower borrowing requirements. Early repayment or transfer of government loan assets will improve Liquidity and result in cheaper single digit loans to the Private Sector.

“Generally, Public sector loans must be secured with real assets or must be within the tenure of the government. Longer term loans must be investments in real assets and not on the government balance sheet.This shift would promote private sector growth and ensure that capital is allocated efficiently.

“The successful Eurobond offer was received with mixed feelings. We congratulate the Financial team on a successful outing. However, the nature of over subscription confirms the coupon offered was beyond market offers. Perhaps we need to consider a hybrid offer which allows a Dutch auction that mops up the best offers at each coupon level. The successful bidders made instant profits overnight on the offer.

“The government should be looking to reduce financing costs on an aggressive basis where possible. Because, while the improved liquidity gives the government access to international financial markets, they do not guarantee long-term economic stability. Relying heavily on foreign borrowing may expose the country to external shocks and currency fluctuations.”

On Foreign Reserves, Support for local industries and Private Sector, the Association advised “Introduction of public sector expenditure guidance at all government levels for purchase of locally produced goods and services will reduce pressure on foreign exchange demand by government agencies and their contractors.”

They stated, “Investment in public infrastructure should result in utilisation of more locally sourced inputs, higher investment on local infrastructure and improving local productive capacity. Areas like transportation, power, and technology—are key for both manufacturing and services.

“Nigeria needs a coordinated approach to delivering the latest technologies and digital infrastructure to facilitate delivery of social services, public health, educational and digital infrastructure. Government should introduce reforms and policies to facilitate, attract and retain private sector investment in digital education and modern skills acquisition, technical skills education for our teaming youth. Many employers are unable to find adequate skilled workers in many industries.

“The Industrial Park and Skills centre at the Abuja Free Trade Zone at Idu, FCT and many more around the country should be encouraged and supported by all tiers of government in Nigeria and the Organised Private Sector in Nigeria to produce a different positive outcome for Nigeria.

“By public sector philosophy, all government expenditure is necessary. The government should undertake a rigorous review of its current size and expenditure to identify and eliminate wasteful spending. Efficient allocation of existing resources can help reduce excessive borrowing .

“Other countries like Argentina have made political choices to eliminate recurrent budget deficits. The Nigerian budget for elected and unelected politicians can be adjusted. The size and number of government funded agencies can be reduced and taxes should be further reduced which will attract greater private sector investment.

“The government should create an environment where the private sector can take the lead in economic ventures. This includes deregulation in most areas, reducing bureaucratic red tape, and enhancing ease of doing business in Nigeria. (Regulatory Agencies like Standards Organisation, NAFDAC etc can be reformed to adopt internationally acceptable standards for Nigeria.)”

NACCIMA added, “Likewise Investment in infrastructure— A focus on investment instead of contract awards in areas like road infrastructure, industrial and residential estates, power infrastructure and other key infrastructure like airports and seaports are key for a sustainable economy. This approach will secure requisite private sector post construction management resources and working capital to operate and sustain the infrastructure, thereby ensuring an environment more conducive to business operations.”

On the 2024 Tax Bill, Oye said the “current media engagement between federal and state governments in newspaper and press releases only further confirms the disconnect described above. The beneficiary parties receiving taxpayer funds engage each other on how to secure a larger portion of taxpayer funds without consideration for the public or tax payer interest.

“We believe corporate taxes should be further reduced to 19 per cent and VAT pegged at 7.5 per cent. We believe this will grow the economy and result in higher tax revenues for the government. As a caveat to protect government revenues, each taxpayer must not pay less than the preceding tax year.”

According to him, “Significant tax payers like the telecommunications sector who require reforms; which will result in increased tax revenues should not be ignored. There must be real dialogue with genuine concessions to be made by all parties.

“The private sector (Aviation, Telecommunications, manufacturers, Free Trade Zones and other stakeholders must be engaged) in written communication. Committees that come to lecture taxpayers are not giving positive outcomes. For better coordination, the outcome of these engagements can be forwarded to the National Assembly through the office of the Attorney General as directed by Mr. President.”

The NACCIMA boss further advised, “Governments at all levels must understand their role as referees, intermediaries and facilitators. Governments are not industry players, owners of capital or benevolent entities. It is the right of taxpayers and citizens to demand basic facilities like security, utility infrastructure, social services, education and health.

“International statistics show a clear correlation between inflation and government deficits (Countries with reserve currencies like the United States are exceptions). For this reason, the size of the government must remain marginal.

 

The Archbishop of the Anglican Communion, Kaduna province, Most Reverend Timothy Yahaya, has called on the National Assembly to set up a forensic audit committee to probe the agricultural sector and uncover billions of naira that have sunk into it.

In his New Year message to Nigerians, the archbishop said that only God is the people’s hope, adding that the government has no hope to give its citizenry.

Bishop Yahaya’s position followed President Bola Tinubu’s message to Nigerians on New Year’s Day. In it, he assured that there is hope that 2025 will be a better year for the country while urging Nigerians to be focused and united.

The Anglican Bishop also lamented billions of naira pumped into the agricultural sector by the federal government in the penultimate year, which, according to him, did not show corresponding results other than hunger and starvation in the land.

Fielding questions from Journalists on New Year’s Day, the Anglican Bishop said, “I agree with President Bola Tinubu that there is hope for Nigeria because there is God, there is hope, not because there is government, there is hope. Why did I say what I said? Last year, the government had a budget of over 28 trillion naira; what did you see? Hunger in the land, frustration in the land. We asked ourselves, where did this trillion naira go? The roads are still the same, the hospitals are still the same, the schools are still there, and everything you call infrastructure in this country is the same. How many times did the national grid fail? Let’s be very sincere to ourselves.

“The year that had just passed, they promised us the best, and yet people, because of hunger, were stampeded to death. Whether we agreed or didn’t agree that there is hope, if people were not hungry, they wouldn’t have rushed for that food. If you are talking about any angle, could you check the people who came for that food? So whether we like it or not, I believe with God, Nigeria in 2025 will be better.

But let our leaders change their ways; they should trim what they do.

“The budget for the kitchen of Mr President should not be more than the budget of one West African country.  Mr President’s travelling expenses should be cut down. If you look at how much our president spends on travelling, people in the first world don’t spend that amount of money.

 

“We must look inwardly and be very patriotic about our country. And if we are all patriotic, from the president down to every commoner in this country, this year will be more significant. But as long as we continue our greed, selfishness and unpatriotism, we will not go anywhere. When preaching, I talked about going abroad to buy what we can produce in Nigeria. This must stop if we want to make progress as a nation.

“Look at Abuja-Kaduna—Zaria-Kano Road. After nine years, we are still working on the same road, bickering over the same road. Only in Nigeria do you have a date for starting a contract, but you don’t have a date for finishing the contract. Don’t award what you cannot execute; don’t do it.

“Secondly, I want to thank the security forces, but they can do better because if you look at last year, the statistics showed that over 2 trillion naira was paid as ransom. How much is the whole Nigeria economy? So that means criminality is rewarded in this country. How many companies made up to 2 trillion naira, but criminals in this country made up to 2 trillion naira? That means 60 per cent of families in Nigeria were affected by this insecurity. Our government should do better.

“Apart from that, the issue of food, and I still insist that the problem of food in Nigeria is because those in charge of food security don’t know what to do. If you look at the amount of money budgeted from all sorts of banks and government agencies on agriculture, the truth is, where is the money? I call on the National Assembly to set up a forensic audit committee to audit the funds into agriculture; you will see monumental corruption in the agricultural sector.

“You sink money into agriculture, yet we don’t see food. That is because people who know nothing about agriculture are stealing that money. I dare to say it; we say we have given our power to private hands to generate electricity. I have never seen private hands performing like this. The national grid is failing again and again. In Nigeria, we buy a transformer and pay for installation; these companies are supposed to provide the transformer. They are not providing it. When you purchase and install the transformer, they say it is their own. If not criminality, in which country does this happen? How can the transformer you bought belong to a company? This is daylight robbery; this must change.

 

“And I want to plead with the government that we must teach technology because certificates worldwide are failing. It is skills that give jobs all over the world today. Our educational system needs a total reformation where our young ones will be given skills. Today, we are moving to the next revolution of Artificial Intelligence (AI). The world is changing fast, yet we find ourselves doing the same old things and expect to catch up with the world. Our young people should be given skills; if given those skills, they can conquer the world.

 

“Let’s go and learn from India. India controls technology companies all over the world, so why? Because they decided to train their young ones in technology. And these young people are doing wonders all over the world. But here in Nigeria, we are still reading old courses that will not add value to this generation. Some courses are obsolete. I want to plead with the government to make this country move ahead. I also call on Nigerians to ensure that all hands are on deck to take Nigeria to the next level.

 

“If we don’t think of Nigeria, act Nigeria, believe Nigeria, and push Nigeria ahead, I tell you, Nigeria cannot progress without us. Even those of us who curse Nigeria should always pray for Nigeria. I pray for every sector of this country because Nigeria is the richest and best country in the world. And if Nigerian survives, Africa will survive, and I think the world will be heaven on earth.”