Tag: National Economic Council (NEC)

  • NEC sets up committee to fast-track livestock development

    NEC sets up committee to fast-track livestock development

    …enduring solution to farmer-herder crisis key to food security — Shettima

    …Kebbi governor to chair six-zone panel

    The National Economic Council (NEC) has constituted a high-level committee on livestock development to accelerate the implementation of reforms aimed at transforming Nigeria’s livestock sector and resolving the long-running farmer-herder crisis.

    The committee was set up on Wednesday during the 155th meeting of the NEC, held virtually, as Vice President Kashim Shettima said only a practical, enduring, and nationally accepted solution to the farmer-herder conflict would guarantee food security in the country.

    The Livestock Development Committee is made up of one representative from each of the six geo-political zones: Bauchi State for the North-East, Niger State for the North-Central, Ondo State for the South-West, Imo State for the South-East, Cross River State for the South-South, and Kebbi State for the North-West.

    The Kebbi State Governor, Nasir Idris, will chair the committee.

    Other members include the Ministers of Livestock Development, Agriculture and Food Security; Budget and Economic Planning, as well as the Senior Special Assistant to the President on Agribusiness in the Office of the Vice President.

    NEC directed the committee to work with relevant stakeholders to review the recommendations of the Presidential Livestock Reform Committee (PLRC) and proposals submitted by the Ministry of Livestock Development, as well as identify states willing to participate in the implementation of the programme.

    The move follows a directive by President Bola Ahmed Tinubu at the Federal Executive Council (FEC) meeting of Wednesday, December 10, 2025, mandating the NEC to collaborate with the Ministry of Livestock Development to produce a clear roadmap for transforming Nigeria’s livestock industry.

    The ministry subsequently developed a proposal presented to the council for endorsement, to reposition the livestock sector as a modern, peaceful, and profitable engine of national development.

    Read Also: Banditry: We will protect our people, says Aiyedatiwa

    In his opening remarks, Vice President Shettima, who chairs NEC, said food security was a moral obligation to Nigerians but stressed that it could not be achieved without addressing the root causes of farmer-herder violence.

    According to a statement issued by Senior Special Assistant to the President on Media and Communications Office of the Vice President Stanley Nkwocha, Shettima said “we must acknowledge with absolute regret the deep distrust created by this violence, born out of a trade and an ancestral practice that ought to have remained a central pillar of our food security and rural economy.

    “The loss of lives, the destruction of homes, and the devastation of farmlands must end”, he said.

    According to him, mismanagement of long-standing tensions between farmers and herders had fuelled conflicts that have spread across the country.

    “What started as a challenge of coexistence gradually hardened into cycles of violence that were allowed to persist for far too long without a durable solution.

    “Today, that violence respects no geography. It has become a shared nightmare that has scarred every region, disrupted livelihoods, and eroded trust between neighbours who once relied on one another for survival”, the Vice President said.

    Shettima commended President Tinubu for what he described as a bold initiative to integrate livestock production into the national economy, noting that the creation of a dedicated Ministry of Livestock Development underscored the administration’s commitment to the sector.

    He urged state governors to take the livestock development presentations by the ministry and the PLRC seriously, saying the sector offered major opportunities for economic transformation, conflict resolution, and the restoration of peace in affected communities.

    “The presentations before us today offer critical insight into responses designed to confront these realities. They speak directly to stabilising our food systems, restoring confidence in rural economies, and reducing the security pressures that flow from competition over land, water, and livelihoods.

    “At their core, these presentations seek to dispel the false choice between agriculture and security by demonstrating that both are inseparable pillars of national stability,” Shettima added.

    He assured that the recommendations of the PLRC and the Ministry of Livestock Development would receive priority attention from the Tinubu administration, while calling on sub-national governments to support efforts to fully harness the vast potential of the livestock sector.

  • Seat of power

    With the relocation of the capital city to Abuja, the part of the thick forest where the Presidential Villa is presently sitting gave way to the construction of many offices and buildings as the seat of power.

    The Council Chamber in the Villa has been in use since the days of the first occupant of the Presidential Villa for meetings under the military era.

    Civilian administrations from 1999 have also been putting the chamber to great use.

    With the capacity to sit about 100 persons at a time, the oval-shaped hall is one of the closest to the President’s office.

    The weekly Federal Executive Council (FEC) meeting and the monthly National Economic Council (NEC) meeting  are usually held in the chamber.

    Other important functions at the chamber include national functions, like swearing in of Chief Justice of Nigeria, and permanent secretaries and commissioners of the Independent National Electoral Commission.

    The Council Chamber also has a media briefing hall that is sometimes used for other meetings and official functions.

    Journalists are usually briefed weekly in the media briefing hall at the end of FEC meetings and monthly NEC meetings.

    Under Jonathan, the Council Chamber media briefing hall has also been used to receive many groups including Nollywood actors and actresses, under different platforms, visiting to pledge their solidarity towards his reelection in 2015.

    Buhari also used the Council Chamber media briefing hall many occasions, including receiving rescued school girls, who were abducted from their school in Chibok, Borno State in 2014.

    Among the buildings in the Villa, include Houses 7, 8 and 10.

    The three houses were meant to be the President’s Guest Houses to host his visitors.

    They have halls that can sit about 100 guests.

    The houses were put to great use under the military era of former Military President Ibrahim Badamosi Babangida, former Head of State, Late Sani Abacha, and former Head of State, Abdulsalami Abubakar.

    Comparing the three houses, House 7 was the most popular among them.

    There have been a kind of myth surrounding the houses, especially House 7, during the military era.

    At a point, it was even rumoured then that some foreign female guests hosted in one of the houses played significant roles that led to the sudden death of one of the former Nigerian leader.

    Under former President Olusegun Obasanjo, House 7 was also used for some meetings, especially political meetings and dinners for guests.

    Some political meetings in House 7 also continued under Jonathan, and the House was used for hosting dinner for scholarship students going to study abroad, among other dinners.

    But House 7 is now becoming very quiet as the number of open functions held there in the past four years are not up to five. Other halls in the Villa are increasingly being put to use.

    One of the closest halls to the Aso Villa Chapel and the President’s official residence is the First Lady Conference Hall.

    The hall, which can also sit about 100 persons, was completed and slated for commissioning shortly before Late Gen. Sani Abacha died in 1998.

    The hall was greatly used under the subsequent civilian administrations, mainly for political meetings.

    Under Jonathan, many late night meetings were held in the hall including meetings to shelve or resolve Academic Staff Union of Universities (ASUU) strike action, which sometimes ended around 3a.m to 4a.m the following day.

    No room in the First Lady Conference Hall was dedicated to keep journalists waiting for such meetings to end.

    Of course, journalists covering the State House had no options than to hang around the flowers decorating outside the venue and the mini mosque near its entrance, waiting to know the outcome of the meetings.

    At such times, journalists were at the mercy of the outside cold weather and giant ‘Presidential’ mosquitoes.

    Their conditions were even worse if it was a period of harmattan as the cold got more intense in the wee hours.

    Since no one can conveniently cheat nature, many of the journalists dozed off on the bare floor while waiting for the all-night long meetings to end.

    Many of them were woken up hours later by the shout of ‘All stations’, ‘All stations’, ‘All stations’, from their colleagues who have kept vigil, signifying the end of the meetings.

    Others who didn’t hear the shout, because of their snoring and deep sleep, were woken up by their friends lying or sitting close to them.

    The First Lady Conference Hall has also been put to good use by President Buhari.

    Late night meetings spilling to the next day are almost non-existent under Buhari, as he believed in putting his time to good use from morning hours and ending before midnight.

    Buhari has used the First Lady Conference Hall to hold some night political meetings including hosting National Assembly All Progressives Congress (APC) caucuses, among others.

    But the meetings, which frequency start around 8pm usually end before 10.30pm

    One of the newest buildings in the Villa is the new Banquet hall located about one minute walking distance from the President’s office on one side and the President’s residence on the other side.

    The hall, which was built at the tail end of former President Jonathan’s tenure, could sit up to 500 guests.

    It also has adjourning smaller halls.

    Under Jonathan and Buhari, the main hall has been used to host visiting leaders from other countries.

    It has also been used for political meetings and dinners.

    Of recent, the meeting/dinner for APC caucus that endorsed the new Senate President, Ahmad Lawan, for the number one Federal legislative position, was held in the main hall.

    The President’s and Vice President’s offices also have other mini halls and offices for their aides and other staff.

    The biggest hall in the Presidential Villa is the old Banquet Hall.

    The hall, which can sit over two thousand guests, was built under former President Obasanjo.

    It is attached with smaller halls, media briefing hall and other offices. It also has the largest car parks in the State House.

    The main hall has hosted many national events, political meetings, workshops and seminars under the past civilian and current administrations.

    Buhari, last June, hosted the 55th Ordinary Session of the Economic Community of West African States (ECOWAS) Authority of Heads of State and Government in the main hall.

    But what always attract the attention of any first time visitor to the building is the the big dome on the right side while entering from the visitors’ entrance.

    Round the wall of the dome are giant portrait of every President and heads of state that have ruled Nigeria.

    Tables and chairs are mostly arranged under the dome for lunch, dinners or tea breaks for functions holding in the main hall.

    The tables and chairs are removed if the area under the dome is to be use for cocktail receptions or exhibition of products and services. During such exhibitions, the area is demarcated into many stands.

    Under Jonathan, the dome has been used to host cocktail reception for victorious Super Eagles and other teams.

    To allow leaders, staff and visitors meet their spiritual obligations at the seat of power, the State House mosque and the Aso Villa Chapel were also built for Moslems and Christians, respectively.

    The Administrative block, very close to the old Banquet hall, provides many offices for civil servants in the State House.

    The Presidential Villa also has many car parks including the ‘Forest car park’ and the one facing the Officers’ mess.

    A bit detached from other buildings at the seat of power is the State House Auditorium.

    The auditorium, with ascending rows of seats, can take over two hundred guests at a time

    Despite the many staff and visitors to the seat of power, the Villa has one of the poorest Automated Teller Machine (ATM) service in the city.

    Many staff in urgent need of ATM services presently have to go as far as the Federal Secretariat or other ATMs in the city.

    This is because the only two ATMs by the Forest car park hardly dispense money.

    Staff are mostly confronted with ‘Out-of-Service’ message whenever they try to make cash transactions at the ATMs provided by one of the top banks in the country.

    It will reduce State House loss hours and also serve staff, visitors and the bank better if the service is improved.

    Or alternatively, more spaces can be provided for other banks to come in.

    But the seat of power is blessed with a world class Gym in terms of sporting machines and gadgets.

    It also has Nigerian Airforce team, under the leadership of Group Captain R. Garba, drilling and training willing staff to remain healthy and fit for their jobs.

    Little more attention to the Gym, however, will really make it world class in all ramifications.

    All these buildings and facilities have really made the Villa what it is today.

  • Breaking: Another cycle of recession coming, Yari warns

    Governor Abdulaziz Yari of Zamfara state has warned of impending recession by mid-2020.

    Besides, Yari pointed out governors have unanimously agreed that borrowing is not a reliable alternative to solving the country’s economic problems.

    Yari spoke on Monday at the opening of the three-day retreat for returning governors and governors-elect in Abuja.

    Yari, who is the Chairman of Nigeria Governors Forum, said that the current economic reality should prepare governors ahead of the possibility of another recession by mid-2020.

    He however declared their good spirit and preparedness will enable them contain the situation.

    He therefore urged the governors to work in unity to boost the economy.

    Read Also: Yari hails military operations

    Yari also advised on the needs for the governors to look inward by boosting their revenue generation base and utilise them effectively.

    Speaking on the backdrop of the country’s dependence on crude oil which price has been fluctuating in recent times, Yari said: ” This scenario is a wake-up call for all of you to come amply prepared to face these kinds of challenges especially since we are expecting the possibility of another cycle of recession by mid-2020 and which may last up to the third quarter of 2021.”

    “Your good spirit of stewardship will make you contain the situation should there be one.

    “As members of the National Economic Council (NEC) you must work hand in hand to boost the economy in tandem with the global best practices.”

    Details shortly…

     

  • NEC, National Council of State to consider N30,000 Minimum Wage

    The Federal Executive Council (FEC) meeting on Tuesday resolved to take the N30,000 new national minimum wage request to the National Economic Council (NEC) meeting scheduled for Thursday at the State House, Abuja.

    The request will also be presented to the National Council of State fixed for January 22.

    The FEC meeting chaired by President Muhammadu Buhari also launched a new 60-page and 10-year Nigeria international passport.

    The Minister of Information, Lai Mohammed, while briefing State House correspondents at the end of the emergency FEC meeting, said that the N30, 000 minimum wage request will be taken to NEC.

    He didn’t give details about the minimum wage request as he pointed out that it was still work in progress.

    Asked to speak on the minimum wage request discussed at the meeting, he said: “l cannot because it is work in progress, since it will also be discussed at the National Economic Council (NEC) meeting before we come out with the decision, thereafter, we can brief the media.”

    Read Also: I am ready to pay N30,000 minimum wage – Gov. Emmanuel

    A reliable source, who spoke on a condition of anonymity, also disclosed that the wage request will be presented to the National Council of State.

    Members of the NEC include governors, who mostly have opposed the N30,000 new minimum wage and agreed to pay N22,500 and Ministers of Justice and Finance and Central Bank Governor as members.

    The organised labour has given the Federal Government up till January 23 to submit executive bill to the National Assembly or risk an industrial action.

     

  • Nigerians everywhere deserve healthy, productive lives — Osinbajo

    Vice President Yemi Osinbajo, says Nigerians everywhere deserve to live healthy, educated and productive lives regardless of where in Nigeria they reside, what God they worship or language they speak.

    Osinbajo said this on Friday in Abuja while addressing the extended National Economic Council (NEC) meeting with focus on Human Capital Development (HCD) held at the State House Banquet Hall.

    The theme of meeting was “Achieving Nigeria’s Visions for Human Capital Development.’’

    The vice president said that the Federal Government was fully committed to ensuring that it positively transformed the Nigerian experience as it related to the quality of life and well-being of its people.

    He said that Nigeria had struggled with high  levels of poverty for several decades in spite of its potential, as the last poverty study done by the National Bureau of Statistics (NBS) in 2012 showed that 112 million Nigerians were living in extreme poverty.

    Osinbajo said that when the present government came into office in 2015, three things were very clear, one that it needed to move quickly and ambitiously in its response to the issues of poverty and malnutrition and disease and illiteracy.

    “Two, there would be no quick fixes or miracles cures as it would be a long and painful journey out of the status quo which required patience and consistence in the implementation of our interventions.

    “Three, just as we are reaping the consequences of the poor decisions we have taken in the past, we can change the consequences that await us in the future by changing the decisions we take in the present.

    “These realizations have guided us over the last three years, even as we have developed a vision for a Nigeria that is healthy, educated and positioned to fully unleash its development potential.

    “This is what informed the creation and implementation of our Social Investment Programme, which is now the largest in Africa.

    “A multi-faceted intervention simultaneously targeting poverty, hunger, unemployment, financial exclusion, and the absence of skills needed for our large youth population to thrive in the 21st century.

    “Nigerians everywhere deserve to live healthy, educated and productive lives, regardless of where in Nigeria they live or what God they worship or what language they speak.’’

    He said that the N-Power, Jobs Scheme for unemployed graduates had more than doubled since then to cater to 500,000 beneficiaries; while Trader-Moni Microcredit scheme for petty traders excluded from formal lending opportunities had benefited well over a million people.

    Read Also: Osinbajo to unveil Igbo Ancestry Museum in Anambra

    The vice president said there was also Market-Moni, designed to provide loans to market women and traders, artisans, enterprising youths and small scale farmers and agric workers nationwide.

    “In terms of healthcare, we have recorded a landmark accomplishment, the setting up of the Basic Healthcare Provision Fund, with seed funding of one per cent of our Consolidated Revenue Fund as outlined in the National Health Act.

    “I am pleased to say that Nigeria is for the first time complying with these stipulations since the Act was signed into law in 2014,’’ he said.

    In a presentation, Mr Yosola Akinbi, HCD Core Working Group (CWG) Coordinator, said that the HCD initiative was a response to Nigeria’s ranking as a country with low HCD.

    She said that the CWG selected six outcomes and several proxy measures to access and track progress across HCD thematic areas.

    Akinbi listed the areas as under-five mortality rate, malnutrition, adult mortality, expected years of school completion, quality of learning and labour force participation.

    She said that Nigeria’s vision to accelerate HCD by 2030 was in three strategic themes, health and nutrition, education and labour force.

    “Provide equitable access to affordable and quality healthcare for every Nigerian, promote a quality, inclusive and functional educational system and empower youth to have the capacity and skills to create or seek employment,’’ she said.

    In his remarks, Chairman, Nigerian Governors Forum (NGF), Gov. Abdulaziz Yari of Zamfara, said that the governors had been working hard to ensure economic growth and promote transparency in governance.

    He said that finance was critical in addressing all the issues bordering on HCD.

    According to him, more efforts should be channeled toward revenue generation in order to achieve the vision of HCD.

    In goodwill message, Mr Rachid Benmessaoud, Country Director, World Bank Nigeria, said that for the world to do well, Nigeria had to do well.

    He said that the Federal Government’s Economic Growth and Recovery Plan (ERGP) was yielding results.

    Mrs Debbie Palmer, DFID Country Representative, in a goodwill message, said that given that Nigeria would be the third largest nation in the world by 2050, it needed well-nourished, healthy, educated and skilled people.

    Also speaking, Sen. Lanre Tejuosho, the chairman, Senate Committee on Health, urged the executive to ensure timely release of money appropriated by the National Assembly for HCD.

    The News Agency of Nigeria (NAN) reports that there were also goodwill messages from representatives of UNICEF,  Dangote Group, Belinda and Gates Foundation,and U.S. Mission among others.

    The extended NEC had in attendance state governors, Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, private sector representatives and development partners.

    The highlight of the event was unveiling of the Vision to Accelerate Human Capital Development by 2030 by the vice president.

    NAN

  • Governors to declare state of emergency on education

    Towards reviving the educational sector across the country, the National Economic Council (NEC) is putting finishing touches to declare state of emergency in education in all the states of the federation.
    The NEC, which comprises of the 36 state governors, will take a final decision on the proposed state of emergency in its next meeting.
    Briefing State House correspondents at the end of the NEC meeting chaired by Vice President Yemi Osinbajo, Edo State Deputy Governor, Philip Shaibu, said that the Council received interim report from its Ad-hoc committee on the revival of education in Nigeria.
    According to him, the committee recommended that all state governors should declare a state of emergency on education.
    The areas to be focused on, he said, included technical education, basic education, promoting adult literacy,  and out of school children.

    Read Also: Girl-child education brings long term prosperity

    He said “It will be implemented so that we have a systematic growth in the education sector.
    “It is not going to be one of those documents that will be kept aside. It will be implemented to the letter.
    “The state of emergency should go beyond lip service.” he added
  • Insecurity: NEC sets up panel to decentralize Police operation 

    …Nigeria dealing with abnormal security challenges – NSA

     

    The National Economic Council (NEC) on Thursday set up a committee towards decentralizing the operations of the Nigerian Police Force.

    This was disclosed by the National Security Adviser (NSA), Babagana Monguno at the end of the NEC meeting chaired by Acting President, Yemi Osinbajo at the Presidential Villa, Abuja.

    Read Also:FG restates commitment to end insecurity

    He was with the Jigawa State Governor, Abubakar Badaru and Deputy Governor of Benue State, Benson Abuonu.

    Monguno said that the Inspector General of Police, Ibrahim Idris, will head the committee with representatives from the six geopolitical zones.

    He also pointed out that Nigeria is currently facing abnormal security challenges.

    The security challenges, he said, can’t be completely tackled within a short a time.

    He also said that the improvements in the security situations in the country have nothing to do with the forthcoming general elections.

    Details Later…

  • Salaries may be delayed over FAAC deadlock, Says Adeosun 

    …Says NNPC’s explanation on cost not justified

     

    The Minister of Finance, Kemi Adeosun on Thursday warned that if the issues that led to the federation accounts and allocation committee (FAAC) meeting with governors that ended in a deadlocked is not resolved; salaries might be affected in the states.

    The committee members of FAAC, she said, felt that some of the costs presented by the Nigerian National Petroleum Corporation (NNPC) couldn’t be justified hence have decided that rather than approve the accounts, the negotiations continue until the agreements are reached.

    She also explained that President Muhammadu Buhari and Vice President Yemi Osinbajo, have been fully briefed and have supported the Ministry of Finance and the commissioners of finance not to approve those accounts until further explanations on some of the cost being implemented are given.

    The revenue sharing meeting had ended in a deadlock on Wednesday for the third time since January 2018.

    Read Also:FG receives N263.28bn from FAAC allocation in Feb – NBS

    The National Economic Council (NEC) presided over by Vice President Yemi Osinbajo, has demanded explanations from the NNPC for unclear costs the corporation made from FAAC.

    State Commissioners of Finance, who had converged on Abuja with the expectation to collect their states’ share of the monthly allocation, reportedly walked out of the FAAC meeting as they protested the deductions.

    Adeosun, who chairs FAAC, said she brought the matter to the NEC chaired by Osinbajo, with State Governors, Central Bank Governor, and others as members.

    Briefing the State House correspondents at the end of the NEC meeting, Adeosun said “Also in my capacity as chairman of FAAC, I briefed governors on the deadlock that we have got currently in the federation account and explained what happened. And there was quiet and extensive debate on what to do.

    “For the purpose of this briefing, we operate NNPC as a business, we have invested public capital in that business and we have expectations of return and when that return fails lower than our expectations then the owners of this business which in this case is the federal government and states need to act. So, that was what caused the deadlocked yesterday (Wednesday) and we really felt the figures the NNPC was proposing for FAAC were unacceptable. We felt that some of the costs couldn’t be justified and so we have decided that rather than approve the accounts, we will go back and do further work.

    “So further negotiations and interactions is going on with NNPC as we speak. However, we did briefed both Mr. President and Mr. Vice President on the deadlock and asked for their support and their forbearance in this because the consequence of this is that, salaries might well be delayed in many states as a result of this. But we feel that in order to get to the accurate figures that we need, we have asked for forbearance and the governors and the federal government are all in agreement that we need to get to the bottom of those figures.

    “In particular, now that the oil price is now $76 per barrel in the spot market which means that bonny light is about $78, we want to be aggressively putting money away into the excess crude account. So we are very conscious that this period, this window of relatively high oil price might not last and we will like to be able to save. If we cannot get into the federation account the sort of revenues we are expecting then we will not be able to save. So it was a very important point really underscored by all the governors and they really want action taken and they are fully in support of the positions of the Federal Ministry of Finance and the commissioners of finance not to approve those accounts until we get further explanations on some of the cost being implemented.

    On the exactly issue with the NNPC, Adeosun said, “Based on oil price, oil quantity you can pretty much calculate what you are expecting to see in the federation account and if the figure is less, then the right question that any stakeholder must ask is why.

    “So we have been going back and forth with NNPC to try and understand these figures before we can accept them. Remember that the FAAC figures have to be formally accepted by the federation-account committee and we were simply not comfortable with the quantum of some of the deductions made and therefore we could not approve those figures. So even as we speak, there is an interface going on between the commissioners forum, ministry of finance, office of the accountant general, CBN and NNPC but we hope to be able to convene FAAC within next few days.”

    While giving updates on the balances of the federation accounts, Adeosun said, “Items to note on the excess crude account is that in May we had an additional credit of $80.6 million that accrued into the excess crude account.

    “The balances on the excess crude account $1,916,742,289.60, stabilization 18,892,864,216.65, Natural Resources N133, 715,427,387.37.”

    Governor Ifeanyi Okowa of Delta State, who briefed the press alongside Adeosun, disclosed that the NEC approved the financial report of the Nigeria Sovereign Investment Authority (NSIA), for 2016 and update for 2017.

    He said the report indicated a positive profitability over the past five years, at about $8m per year; and $1.25m as assets at a rate of 6.6% return on assets.

    He said, “At the meeting today, we did take the annual reports and accounts of National Sovereign Investment Authority (NSIA) for the year ended 2016 and an update on 2017 activities.

    “The main issue was the NSIA report on five years so far of profitability in all forms with core profits of about N26.28 billion which is about $88 million in 2016. NSIA also reported that the total profit on that management was about $1.25 billion for most part of the year but they had received an extra of $250 million that was received in the third quarter of 2017.

    “It also did report that the returns on assets was up to 6.6 per cent in dollar terms which we considered to be quite good in terms of returns. It is actually shifting its focus now to infrastructure and direct investment locally in the country which is of great benefit to us as a nation.

    “The 2017 activities of the NSIA also include the implementation of Presidential Fertilizer Initiative (PFI) in 2017. They commenced the construction of free health projects in Lagos, Kano and Umuahia, Abia State. They continued with the work, the funding of the work on the second Niger bridge in which they had been involved in the past.

    “They also did invest and own 13 per cent of Bridge Academy Ltd, a network of schools which delivers high quality affordable primary education to lower income earners and it is hoped that they will do that too in other states of the federation.

    “They also did invest in Babagona, an agricultural franchise, that empowers small holder farmers across the country, and in 2018, they intend to focus on executing infrastructure investment across the nation which includes roads, investment in agriculture and health.

    “We are hoping that all this will impact on infrastructure development and development of industrial real estates across the country. Council eventually resolved that the account of NSIA presented to us should be approved and council so approved.”

    The NEC also resolved that a Committee comprising Governors of Kano, Osun, Delta, Anambra, CBN Governor and the Minister of Education should look into what needs to be done urgently in the education sector at the State level and report back to the Council.

    The minister of education said this was in recognition of the fact that more investment is needed in the education sector, while emphasising that collaboration among the Federal, States, Local Governments, Private Sector and Development Partners is very necessary, as the standard of basic education at the State level has fallen drastically.

  • Why Nigeria must invest in human capital – Bill Gates 

    The Co-Chair of Bill and Melinda Gates Foundation, Bill Gates on Thursday harped on the need for Nigeria to urgently invest in human capital.

    Stressing that Nigeria has unmatched economic potential, he said that growth will come naturally when Nigeria maximizes its greatest resource, the Nigerian people.

    He spoke at the expanded National Economic Council (NEC) meeting chaired by Vice President Yemi Osinbajo at the old Banquet Hall of the State House, Abuja.

    He said “The Nigerian government’s Economic Recovery and Growth Plan identifies ‘investing in our people’ as one of three ‘strategic objectives. But the ‘execution priorities’ don’t fully reflect people’s needs, prioritizing physical capital over human capital.

    “To anchor the economy over the long term, investments in infrastructure and competitiveness must go hand in hand with investments in people.

    “People without roads, ports, and factories can’t flourish. And roads, ports, and factories without skilled workers to build and manage them can’t sustain an economy.” he said

    He urged political leaders in the country to maximize the country’s resources which are its people as a way to help the country to thrive.

    He said “But growth is not inevitable. Nigeria has unmatched economic potential, but what becomes of that potential depends on the choices you make as Nigeria’s leaders.

    “The most important choice you can make is to maximize your greatest resources, the Nigerian people. Nigeria will thrive when every Nigerian is able to thrive.

    “If you invest in health, education, and opportunities – the ‘human capital’ we are talking about today – then they will lay the foundation for sustained prosperity. If you don’t, however, then it is very important to recognize that there will be a sharp limit on how much the country can grow.

    “You see this risk in the data. From the point of view of the quality of life, much of Nigeria still looks like a low-income country. Let me give a few examples.

    “In the middle income countries, the average life expectancy is 75 years. In lower middle income countries, it’s 68. In low income countries, it’s 62. In Nigeria, it is lower still: just 53 years.

    “Nigeria is one of the most dangerous places in the world to give birth, with the fourth worst maternal mortality rate in the world, ahead of only Sierra Leone, Central African Republic,  and Chad.

    “One in three Nigerian children is chronically malnourished. I do not enjoy speaking to you this bluntly when you have been gracious enough to invite me here. But I am applying an important lesson I earned from Alhaji Aliko Dangote.

    “Recently, Aliko and I were having a conversation with several governors about their states’ official immunization rates. Aliko’s way of stressing the importance of accurate data was to tell us, ‘I didn’t get successful by pretending to sell bags of cement I didn’t have.’ I took from that that while it may be easier to be polite, it’s more important to face facts so that you can make progress.

    “On immunization, you are already living that lesson: last year Nigeria revised its immunization coverage numbers downward to reflect more accurate sources, and I applaud you for those lower numbers.

    “They may look worse, but they are more real, which is the first step toward saving and improving more lives.” he said

    He also pointed out that the Nigeria’s Economic Recovery and Growth Plan (ERGP) of the present administration does not reflect the needs of Nigerians people even though it identified “investing in our people” as one its strategic objectives.

    Noting that his foundation with the largest headquarters in Africa is sited in Nigeria, he said that he has also committed the sum of $1.6 billion in Nigeria with a plan to increase the amount.

    Making a PowerPoint presentation of a model of the trajectory of Nigeria’s economic growth, relating to health and education, observed that if the present trend continues, the country cannot keep up with its population growth.

    He added: “If current education and health trends continue-if you spend the same amount in these areas and get the same results-per capita GDP flatlines, with economic growth just barely keeping up with population growth.

    “If things get worse, it will decline.

    Unfortunately, this scenario is a very real possibility unless you intervene at both the federal and state levels. Because even in the worst-case scenario, your national income level is about to make you ineligible for certain kinds of development assistance and loans that you’ve been relying on to fund your health system and other priorities.

    “Without more and better spent domestic money, investment in your people will decline by default as donor money shrinks-a lose-lose scenario for everyone.

    “However, if you commit to getting better results in health and education-if you spend more and more effectively-per capita GDP will stay on its remarkable pre-recession trajectory.” he said

    Speaking at the occasion, Osinbajo again blamed the former President Goodluck Jonathan’s administration for allegedly failing to transform the lives of Nigerians despite making huge money from crude oil.

    According to him, grand corruption prevented investments in healthcare, education and infrastructure.

    He said that the last government shamelessly robbed government policies of most, if not all, of their intended impact.

    Osinbajo however assured that the present administration is determined to change things.

    He said: “To put Nigeria’s money to work for Nigerians, doing the most with the least, we have stayed true to that vision. Even as oil prices went into free fall, we ramped up investments in infrastructure, as well as our social spending.”

    The administration, he said, is painfully aware of the issues facing the country and is prepared to take face it headon.

    On the challenges the Dangote Foundation and Bill and Melinda Gates Foundation have outlined at the event, Osinbajo said: “And we have no choice, because the problem literally grows daily.”

    According to him, Nigeria has strong economic growth and development ambitions, encapsulated in her Economic Recovery and Growth Plan, launched in 2017.

    He noted however that all those lofty ambitions can only be achieved through the determined application of human skill and effort.

    He said: “And for that effort to be meaningful and productive, it has to come from people who are healthy, educated, and who are, and feel empowered.

    “It is this realisation that has helped ensured that one of the primary planks of the ERGP is ‘Investing in our people’. And it is for this reason that we are expanding the reach and quality of our healthcare, through the National Health Insurance Scheme (NHIS); and working to guarantee basic education for all persons, whilst also upgrading and modernising the quality of secondary and post-secondary education.

    “And because this is the 21st century, we know that it is also important to ensure that our young people are being prepared for the economies of the future, not the past. This means that STEM education is critical, and that technology must lie at the heart of every one of our educational offerings.”

    He said the Social Investment Programme (SIP) launched in 2016 is a key component of the Economic Recovery and Growth Plan.

    The school feeding programme, he said, for example is “our way of achieving better health, nutritional and educational outcomes for Nigerian children.”

    “Apart from the health outcomes – children free from malnutrition and stunting – there are also important educational and economic benefits as well. By guaranteeing one hot meal a day to these children the scheme has pushed school enrolment rates upwards in many of the communities in which it is being implemented,” he added.

    The Chairman of Dangote Foundation, Aliko Dangote, said in his opening remarks that for Nigeria to truly compete globally, it must prioritize investments in the health, education and opportunity for the people alongside other critical areas like infrastructure.

    “Together, these are the inputs that will make Nigeria richer,” he stressed.

    During a press briefing at the end of the meeting, Dangote said that he will try to prevail on the private sector to contribute 1% of their profit to health.

    According to him, 2% is already going to educate.

    Kaduna State Governor, Nasir el-Rufai also noted that the country has been under-investing in health and education.

    He also said that the ERGP has enough provisions for human capital development.

    The Ministers of Health, Isaac Adewole and Education, Adamu Adamu also made presentations at the meeting.

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