The Nation Newspaper

Tag: roadmap

  • Navigating Nigeria’s $1 trillion roadmap

    Navigating Nigeria’s $1 trillion roadmap

    • By Nosa Iyamu

    As we navigate the threshold of 2026, the Nigerian economic landscape is finally shedding the “survivalist” skin that defined the previous two years. The data from 2025 paints a compelling picture of a nation pivoting toward stability. Headline inflation, which sat at a staggering 34.8% in December 2024, underwent a significant decline through 2025, cooling to 14.45% by November. This disinflationary trend, paired with economic reforms such as the Nigerian Electricity Regulatory Commission’s (NERC) aggressive reforms and strategic shifts in the oil and gas sector, has effectively reopened the floodgates for Foreign Direct Investment (FDI). The narrative has shifted from a desperate scramble for survival to a strategic quest for sustainability. Investors who were once hesitant are now looking at Nigeria not as a volatility risk, but as a market undergoing profound structural re-engineering. This transition is marked by a renewed focus on transparency and a commitment to market-driven policies that reward institutional resilience and long-term planning.

    Building on the stability achieved last year, 2026 is projected to be a period of “Growth Consolidation.” With GDP expansion forecast between 4.1% and 4.2% and headline inflation expected to settle into a manageable range of 12.5% to 20%, the mandate for brands should shift. It is no longer about merely surviving the storm of volatility; it is about scaling within high-impact corridors that have been cleared by these macroeconomic reforms.

    Strategic opportunities are ripening in four key sectors: Energy, driven by the Electricity Act 2023 and NERC’s cost-reflective market reforms; Healthcare, anchored by the landmark $5.1B Bilateral MOU between the U.S. and Nigeria; Financial Services, fuelled by post-recapitalization lending power; and the Digital Economy, accelerated by the 5G rollout and the maturity of social commerce. Brands playing in these spaces and other industries must recognize that the consumer of 2026 is more discerning, having been refined by the economic hardships of the past, and will only reward businesses that offer clear value and authentic connection.

    Read Also: FG did not give Makinde N50bn, only N30bn was released – Aide

    Perhaps the most pivotal anchor for 2026 is that $2 billion bilateral health Memorandum of Understanding (MOU) signed between the U.S. and Nigeria. This five-year agreement, which began its full implementation cycle in early 2026, is far more than a healthcare play; it is a massive economic stimulus and a resounding vote of global confidence in Nigeria’s institutional reforms. It signals that Nigeria is ready for high-level international cooperation and that the groundwork for a stable, productive economy is being laid. As we march toward the ambitious goal of a $1 trillion economy by 2030, visibility is no longer the endgame for any serious brand. To survive and thrive during this transition from subsistence to high productivity, brands must be deeply understood. It is about moving from the “top of mind” awareness to “top of heart” resonance, where the brand’s purpose aligns with the aspirations of a nation on the move.

    In the fast-evolving communications landscape of 2026, visibility has become a cheap commodity, but clarity is a premium asset. The public relations industry has officially entered the era of Narrative Intelligence. Traditional Search Engine Optimization (SEO) is being rapidly superseded by Generative Engine Optimization (GEO). As consumers increasingly rely on AI agents and large language models (LLMs) rather than scrolling through pages of search results, brands must ensure they aren’t just “present” on the web—they must be cited as authoritative, credible voices by AI models. This requires a shift from keyword stuffing to high-context storytelling and data-backed authority. If an AI agent cannot summarize your brand’s value proposition accurately in two sentences, you are effectively invisible to the next generation of digital consumers. Narrative Intelligence is about ensuring your brand’s story is coherent, consistent, and machine-readable across all digital touchpoints.

    However, this AI-driven world brings a darker side – the proliferation of Deepfakes and hyper-realistic misinformation. As the 2027 political cycle begins to warm up in late 2026, the Nigerian digital space could become a minefield of synthetic media designed to manipulate public opinion. For brands, this represents a significant reputational risk. PR professionals must now act as “Narrative Bodyguards,” deploying advanced AI detection tools to monitor, detect, and neutralize synthetic media before it erodes brand equity. Authenticity is no longer a buzzword or a marketing slogan; it is a defensive necessity. Brands must lean into “Responsible Communication,” ensuring that every piece of content is verifiable and that their response mechanisms for crisis management are faster than the speed of a viral deepfake. Trust, once lost in this high-speed environment, is nearly impossible to regain.

    The era of the “Press Release for the sake of it” is officially dead. In 2026, Nigerian boardrooms are demanding a direct, quantifiable line between PR activity and business impact. This marks the definitive death of vanity metrics. Success is no longer measured by the thickness of a press clipping file or the number of generic “likes” on a social media post. Instead, we are seeing a shift from volume to impact, where the primary KPIs are how a campaign drives customer acquisition, increases investor interest, or improves employee retention. Measurement has shifted focus to quality over quantity; it is about the sentiment of the conversation and the conversion rate of the audience. If your PR strategy does not move the needle on the set measurable objectives, it is considered mere noise. PR is now a performance-driven discipline, integrated deeply into the sales and growth funnels of the modern Nigerian enterprise.

    The age of the N100 million celebrity brand ambassador is also rapidly fading. Battle-hardened by years of economic shifts and broken promises, Nigerian consumers are increasingly sceptical of high-gloss, low-substance celebrity endorsements. In 2025, the Creator Economy has professionalized and matured. We will see the ascendancy of Niche Creators—the personal finance expert on TikTok, the sustainable farmer on YouTube, or the tech-policy analyst on Instagram. These voices offer what traditional celebrities cannot: community, deep credibility, and a mastery of their craft. Brands in 2026 will pivot toward long-term “Responsible Communication” partnerships with these creators who speak the hyper-local language of their audience. The “next big creator” is no longer a movie star; they are a subject matter expert with a loyal, high-intent community that values authentic insight over superficial fame.

    While we must continue to support and prioritize independent media platforms to maintain democratic health, the reality is that traditional newsrooms continue to shrink under the weight of digital disruption. In response, savvy brands are increasingly becoming their own media houses. “Owned Media”—newsletters, podcasts, proprietary research reports, and custom-built community platforms—is the new frontier for brand storytelling. By owning the platform, brands can ensure their story is not diluted or lost in the noise of a fragmented media landscape. This allows for Direct Empathy, speaking to the consumer’s daily reality without a third-party filter. It provides Narrative Control, which is essential in an era of deepfakes, and grants Data Ownership, allowing brands to deeply understand who is engaging with their story and why. Owned media is the bridge that moves a brand from being seen to being truly understood and must be a strategy for 2026.

    The 2026 landscape is a high-stakes arena of immense complexity and opportunity. With the active involvement of global powers like China, Russia, and the USA in trade and commerce, and a renewed national commitment to fighting insecurity to protect the $1 trillion goal, Nigeria is a land of profound transformation. But for a brand to capture this opportunity, it must move beyond the surface-level metrics of the past. Brands must empathize through genuine partnerships, drive cross-sector collaboration, and tell stories that resonate with the Nigerian spirit of resilience.

    The verdict for the year is clear: Trust is the new currency. In a world of AI-generated noise and economic restructuring, the brands that win will be those that have spent the time to build a foundation of understanding. The mandate for 2026 is simple: Don’t just show up. Ensure your audience knows exactly who you are, what you stand for, and why you are essential to their future.

    •Iyamu is a public relations executive.

  • Experts unveil roadmap for healthcare

    Healthcare professionals and medical students have drawn a roadmap on how to achieve sustainable development in the sector.

    The experts were among the 600 participants, including medical students, healthcare professionals, non-governmental organisations, policy makers, research and experts from 11 countries who attended the Federation of African Medical Students Association’s (FAMSA) 32nd General Assembly at the University of Ibadan, the Oyo State capital.

    Participants rose from the meeting with a pledge to play active roles in structuring healthcare in Africa.

    UI College of Medicine Provost, Professor Oluwabunmi Olapade- Olaopa described the Assembly as the largest gathering of medical students and professionals.

    The conference, with the theme: “Repositioning healthcare in Africa for sustainable development,” provided an opportunity for experts to build on the Millennium Development goals programmes of the United Nations and other development partners in 2015, he said.

    He said the assembly adopted the 17 Sustainable Development Goals (SDGs) to serve as a universal call to action to end poverty; protect the planet and ensure that all people enjoy peace and prosperity.

    The assembly, he added, provided another opportunity to latch on three SDGs specific to health, which was aproposed solution that brought together young minds as well as professionals and other stakeholders in both public and private sectors from across Africa to discuss ideas and initiate steps towards the goals.

    In his welcome address, patron and chair of the advisory board, Professor Akinyinka Omigbodun said the assembly provided opportunity for experts at the five-day conference through various plenary sessions, workshops,and scientific presentations to examine topics including infectious diseases in Africa. Also delivering the keynote address,   the regional director, World Health Organisation(WHO), Dr. Clement Lugala, examined issues bordering on the burden of non-communicable diseases and the younger generation.

  • Plateau youths demand implementation of peace roadmap

    Youths of Plateau State have demanded full implementation of the recommendations contained in the Plateau Peace Roadmap as one of the measures to resolve ethnic conflicts in the state and put an end to continuous bloodshed.

    The youths under the auspices of APC Youths Online Forum made the call in a press conference in Jos yesterday, after a thorough review of recent conflicts in the state.

    The youths also said the call on Governor Simon Lalong by a section of the state to resign over the last attacks in Barkin Ladi was a way of politicking the conflicts and not in good fate.

    Chairman of the group who read the text of the conference said, “We vehemently condemn the dastardly the attack and wanton killings that took place in Plateau North senatorial zone where people of  Ruku, Ngar, Razat, Kura etc were gruesomely murdered.

    “We want to also, in strong terms, condemn the peaceful protest organised by the Christian Association of Nigeria (CAN) that turned violent in Government House Rayfield, Jos, as well as other violent protests that took place after the attacks.

    “Rather than organising protests and trading blames, as citizens of the state we need to rally round the state government and collectively resolve the issue in a way to prevent subsequent attacks and bloodshed in our dear state.

    “As youths in the state, we recommend that the state government should commence the implementation of the terms of the Peace Roadmap which is a document collectively put together by the people in the interest of peaceful co-existence.

    “We strongly believe that the document of the Peace Roadmap launched by President Buhari during his visit to Jos early this year has contents that address every point of disagreement among citizens of the state.”

  • Sahara group, others chart future energy roadmap

    The need to promote the adoption of sustainable energy practices in sub-Sahara Africa dominated talks by top government officials, ministers and energy experts, including, Kola Adesina group managing director of Sahara Power Group, at the Horasis Global Meeting in Cascais, Portugal.

    Adesina addressed delegates as one of the eight panelists that spoke on “Creating sustainable energy policies.”

    He highlighted the need for innovation, institutional support, good corporate governance, sustained public-private sector collaboration within the region, and the participation of global partners, including developed economies and multilateral institutions.

    He said: “Innovation is a long and painstaking process. Not only does it require great intellectual capital it needs due diligence and a strong institutional support system to flourish. Institutional support means that government policy and private sector corporate governance work in concert by creating and facilitating the right policies needed to expand sustainable energy across multiple sectors and borders.

    “Any ambitions we have for lighting up sub-Saharan Africa either via exploring alternative sources of energy or addressing the current infrastructural deficits that blight us can only succeed if there is a solid underpinning of policy creation and execution.”

    According to the International Energy Agency, in 2016, global investments in energy, including networks, renewables and thermals exceeded investments in traditional oil and gas development for the first time. There is an undeniable paradigm shift from the dying, dirty business of fossil fuels towards a more sustainable, climate complaint source of energy.

  • Whither Lalong’s peace roadmap?

    One key function by President Buhari during his visit to Plateau State in continuation of his tours to troubled states was the launching of a document titled ‘Plateau State Roadmap to Peace’. Ostensibly, the book detailed strategies and efforts by the state government to guarantee lasting peace within its domain.

    For the state information commissioner, Yakubu Dati, the book is a strategic document that will drive and showcase the blueprint to sustainable peace in the state and institutionalize milestones so far achieved in the peace process. In sum, the document is recipe for ending the cycle of violence in Plateau.

    Apparently buoyed by the envisaged success in peace-building as itemized in the book, Governor Simon Lalong played down the essence of Buhari’s visit and proceeded to have the president commission some of his projects.  Neither was any serious effort made to draw the attention of the president to the recurring killings that have defied solution nor was he made to visit the scenes of the conflagration that has left many killed and communities despoiled with villagers rendered refugees in their homeland.  Buhari was later to commend the governor for his development strides and efforts in restoring peace in the state.

    Ironically, as government officials were busy revelling on the questionable success they had achieved during Buhari’s visit, hell was let loose in the Bokkos Local Government Area as herdsmen again attacked communities leaving in their trail death, sorrow and awe. The governor was so put off by the sad development that he had to sack the chairman of that local government caretaker committee.

    As if to prove that the solution to the festering crises had little to do with the sacked council chairman, the herdsmen again attacked many communities in the Bassa Local Government Council killing scores. And as plans were afoot to give them mass burial, they attacked again leaving 26 people dead. So distressing was the situation that a local cleric who conducted the mass burial of the 26 killed in Dundu, Rev. Jerry Datim flayed Lalong for giving false report on the existing peace in the state when the reverse is the case. He accused the governor of making merry with Buhari during his visit when suspected Fulani herdsmen were busy killing their people in the villages.

    Plateau State council of traditional rulers toed the same line when they deprecated the boldness of the killers in striking even on the day the president was still on their soil. For them, it is a matter of regret that “when the president was still here, there were very serious killings in the Bokkos and Bassa Local governments particularly in the Irigwe chiefdom that is very close to where the president was”.

    As if that was not enough, the killings have continued with the death of two soldiers and two mobile policemen among several others in Dung Kasa, Rafiki and Dutse Kura communities of Bassa Local Council. Lalong has been compelled by the enormity of the killings to impose a dusk to dawn curfew in the local council. He accused some imaginary enemies of rupturing the peace in the affected local government councils.

    With the turn of events, those who criticize Lalong for down-playing the enormity of the security challenges in the state when Buhari visited are not crying wolf. It remains largely cloudy why the killings and plight of the displaced did not take the centre stage of discussions as Buhari visited. What we got instead was a conspiracy of silence on the security emergency and unbridled obsession to impress the president that the governor was performing. So, the president left with the erroneous impression that issues to the killings were being well handled.

    By focusing on projects instead of the security issues that compelled the president to the state, Lalong lost a good opportunity to identify with the plight of his people. Buhari has been criticized for embarking on such trips belatedly. He was also accused of partisan political motive. Lalong proved all that right. He is apparently focusing on his re-election bid and would not allow anything that could pitch him on collision course with the president. He places higher premium on the allure of playing the good boy at the expense of the lives of his people.

    In saner climes where the sovereignty of the electorate is respected, such posturing could come with adverse repercussions. But not here! So leaders could afford to displace the interests of their constituents with their own self-serving interests. But Lalong has not been forthcoming on solutions to the festering crises between Fulani herdsmen and farmers in Plateau State that has lost immeasurably both in human and material capital to the conflict.

    Lalong it was who remarked at the height of the Benue killings that he had warned Governor Samuel Ortom against the implementation of the anti-open gazing law. He was later to apologize for that insensitive statement at a time many had lost their lives to the senseless killings. Irrespective of that apology, the statement exposed his inner mind in no little way. The reading one had of that episode is that he postured as one who had a better handle to the crisis than his counterpart in Benue.

    Perhaps, that better handle is encapsulated in the roadmap to peace which he got the president to launch with much fanfare. Though one is not privy to the critical details of that document, events have since shown in very quick succession that that paper work holds no solution to the killings. Not with the brazen mayhem and despoliation of communities in the Bokkos and Bassa local government councils. Not with the turn of events that now compelled the same governor to impose a curfew in Bassa just as Buhari left the state. Not with the killing of soldiers, mobile policemen and hapless villagers by the rampaging herdsmen. Whither the much touted roadmap to peace?

    When Lalong recalled his advice to Ortom on the anti-open grazing law, the impression created was that the killings in Benue were because of that law. The Inspector-General of Police Idris Ibrahim cued into the same warped reasoning when he asked governors to prioritize the establishment of cattle ranches before enacting anti-grazing laws to avert conflict between farmers and herdsmen. For him, it is only when ranches are established that herders can be arrested and punished for rearing in the open.

    Toeing the same disjointed format, the Minister of Defence, Mansur Dan-Ali had fingered alleged blockage of grazing routes and the anti-open grazing law for some of the immediate causes of the killings in some states. With this biased mind-set, it is little surprising why the killings have defied solution. It is also not surprising Idris failed to relocate to Benue when directed by the president. How can when he already made up his mind that the killings will only abate when states establish ranches. How can Dan-Ali be expected to do the needful when he shares the same sentiments? These are the issues to contend with and they are at the heart of the inability of the federal government to rein in the killing herdsmen.

    Since Plateau is yet to come up with an anti-open grazing law, where do we now locate the blame for the continued orgy of violence and senseless killings in that state? If that law was the issue, Plateau would not have been thrown into the current mess. What of the killings last week in Ebonyi State that has no grazing routes and the mowing down of 26 people in Kogi State?  Why is it getting increasingly difficult for our security architecture to disarm the gun toting herdsmen, some of whom are said to be foreigners?

    Yet, the same police boss wants all vigilante groups that have been complementing government’s efforts on security matters to be disarmed. Disarming the vigilante in the face of the armada of violent technology, sophistication and near invincibility of the herdsmen would amount to further exposing the vulnerable communities to grave danger. It is bound to be counterproductive.

    The key challenge is for security agencies to disarm the herdsmen of their sophisticated weaponry. If that is achieved, the brazenness of their attacks and casualty level that usually trail them would have been largely curtailed. But this objective will remain largely illusory as long as Idris and Dan-Ali continue to rationalize the killings. Is it surprising that the police boss flouted express order from the president to relocate to Benue at the heat of the crises even as the killings are still escalating by the day? That another mass burial has just been concluded in that state, speaks volumes.

  • Minister: implementation of innovation roadmap’ll save over N3tr

    The execution of the National Science, Technology and Innovation Roadmap (NSTIR) will save Nigeria over $11 billion (about N4 trillion) within five years, the Minister of Science and Technology, Dr. Ogbonaya Onu, has said.

    He spoke at the unveiling of the NSTIR 2030 document and interactive session of the Southwest sensitisation on the document.

    “NSTIR 2030 is a roadmap of all roadmaps. Other roadmaps have a life span of three to five years, but this roadmap of 13 years would outlive this  government and would also outlive my stay as minister,” Onu stressed.

    According to him, NSTIR is a development plan for the country, which will help the nation move away from over dependence on oil, and also from a commodity dependent economy to an intellectual based economy.

    “If China with over one billion population could do it, Nigeria will. Our problem is not the population, but to harness the intellectual potentials and the talents of the populace. Our generation must do better than the previous generations,” Onu said.

    The Minister said it was the priority of the administration to harness the raw materials and products that are abundant in the country so as to stop their importation and the huge foreign exchange spent on them.

    He added that governors, commissioners of science and technology, universities and polytechnics, the organised private sector and research institutes as well as Nigerians in Diaspora contributed to the development of the science road map.

    The minister commended the Federal Institute for Industrial Research Oshodi (FIIRO) for its contributions towards the development of the NSTIR.

    FIIRO Director-General, Prof. Gloria Elemo, promised that the institute would continue to support the ministry’s programmes in pursuit of government’s vision on the diversification and growth of the economy using the tools of science, technology and innovation.

    Elemo assured the minister of the Institute’s unalloyed support of his campaign of using the instrument of science, technology and innovation to drive the national economy as seen in the ‘Change Agenda’ through economic diversification programme of the present administration.

    “But this cannot happen without a roadmap, which is what the Federal Ministry of Science and Technology under the leadership of the Minister of Science and Technology has put together.

    “The event is a Sensitisation Programme on the National Science, Technology and Innovation Roadmap at the Southwest geo-political zone’, she stated.

    Science and Technology Promotion Director, Mr. Ekanem Udoh, said the road map is for the private sector to see what the government has put in place, acquire it and build industries to generate jobs for the teeming unemployed youths.

    “This provides framework to promote science and technology and provide catalyst to move science and technology forward in Nigeria. It is also to create platform for Nigerians to key into science, technology and innovation in every sector of the economy,” he explained.

  • NTDC develops roadmap to boost domestic tourism

    The Nigeria Tourism Development Corporation (NTDC) has developed a roadmap to promote tourism assets.

    A unique brand logo will be used as a marketing tool.

    Speaking with reporters in Abuja at the weekend,the Director-General of the NTDC, Mr Folorunsho Folarin-Coker, said: “The brand is an ambitious attempt at promoting tourism in Nigeria that aims to shape the narrative on Nigeria as a major destination for tourism, hospitality, arts and entertainment in Africa.”

    He said the roadmap would showcase the vibrant and friendly energy of Nigerians through different creative expressions,leverage on the abundant soft power to celebrate Nigeria’s heritage and promote the natural and cultural tourism assets, destinations and people.

    According to Coker, the “Tour Nigeria” brand was conceived to drive domestic consumption of Nigeria’s tourism products, create new tourism markets, add to the nation’s GDP, create employment, and increase spending in the economy.

    “We are proudly the most populous black nation on Earth,home to the second largest film industry on the globe whilst also being the fashon, technological and creative hub in Africa,” he said

    To drive the initiative, a strategic five-point action plan with the acronym CHIEF was concieved. CHIEF represents Corporate Governance & Regulations; Human Capital Development; Infrastructural Development; Events and Marketing; and Finance & Investment.

    He said the key components to tourism such as travel,accommodation, hospitality and entertainment would be explored with airlines,hotels, car hire services, tour operators and others to bring out affordable package tours to encourage Nigerians to tour Nigeria.

  • PWC urges govt to implement mining roadmap

    PWC urges govt to implement mining roadmap

    The PricewaterhouseCoopers (PwC) has expressed doubt over the implementation of the mining sector roadmap. According to the audit firm, nothing  has happened since the blueprint was unveiled about a year ago.

    Available records, it said, have  shown that the mining sector’s contribution to the Gross Domestic Product (GDP) had remained far below expectation, accounting for only about 0.33 per cent in 2015, which was before the inauguration of blueprint.

    A multi-stakeholder committee was set up by the government to develop a roadmap for the transformation of the sector to boost its growth. The deliberate outline included building a world class minerals and mining ecosystem designed to serve targeted domestic and export markets for minerals and ores.

    The blueprint was also expected to rebuild the nation’s minerals, mining and related processing industry, rebuild market confidence in minerals and mining sector and win over domestic users of industrial minerals that are currently imported.

    PwC advised that the government should focus on expanding domestic ore and mineral processing industry and make the sector competitive.

    A PwC Director, Cyril Azobu, who spoke with The Nation said for government  to develop the sector, it needs to implement the strategic actions that were contained in the roadmap.

    According to Azobu,  the PwC was in touch with the mining strategic team, assuring the firm’s support  to the Ministry of Solid Minerals to ensure that strategic actions contained in the roadmap were implemented.

    He said: “Execution is a critical thing, that is where we are interested in and we are working with the government and the private sector to see how that works. We are really much interested in getting this to work. However, there are other stakeholders that are involved, everyone needs to be committed to making this work.”

    He said efforts being made are geared towards encouraging development of certain strategic minerals such as bitumen and iron ore as well as legal matters.

    He said: “It is expected that there would be a resumption of activities within the iron ore space such that we could have complete integration from iron ore mines to steel production and other processing companies to develop iron ore.

    “I have not seen much activities, given the great expectations we had.. The truth is that this is one area the government needs to give attention in terms of funding, and very recently the mining development fund was inaugurated, but it is yet to pick up.

    “I think much of the activity had been a bit of institution building, and addressing existing legal matters has slowed down the industry. We are concerned because in a couple of months the year will come to an end without achieving the expected goals of the roadmap.

    “I am aware the mining development fund board has been constituted, but I think they will need to step up efforts in terms of how they stimulate the industry from funding perspective. I hope they will have the cooperation and get to work. I hope the issues around legal matters will be ironed out. I also hope that bitumen, which seems to be one of the strategic minerals will also pick up and there will be activities to bring investments into the country.”

    On funding, the PwC boss said exploration funding was not attractive to funding institutions because its high risk, adding that except those who have the licences are able to get private funding. “If you ask anyone in the mining sector today, the real issue for them is funding,” he said.

    Azobu said part of what the government has done is the provision of minerals data. This, according to him, has helped in carrying out appropriate exploration.  “There is a bit of work going on in respect of funding from the government. Nonetheless, one also needs to be sure of what exactly one is funding and how it will provide the expected outcome in addressing the funding gaps,”he said.

     

  • How to make economic roadmap work , by experts

    How to make economic roadmap work , by experts

    United Bank for Africa (UBA) Plc Chairman Tony Elumelu, the Nigerian Labour Congress (NLC) and some experts, at the weekend, described the Economic Recovery & Growth Plan (ERGP) as the right pill for the country’s economic pains.

    Reacting to ERGP, launched last Wednesday by President Muhammadu Buhari to reboot the economy, they believe the roadmap will help in tackling the economic recession, if well-implemented.

    The ERGP priorities include: stable macroeconomic environment, agricultural development and food security, power and energy and transportation infrastructure, among others.

    The government proposed no fewer than 60 interventions to stimulate key areas of priority.

    Speaking with The Nation, NLC President Ayuba Wabba said the organised workers’ union did not only believe in the plan but was also part of it.

    Ayuba said: “We were consulted on it and we believe it will work out this time around. For us, what is important is that the implementation should be done.

    “When we looked at the plan, we had some issues with it and when we met with the Minister of Budget and National Planning, we expressed our observations.

    “Generally, it is a good plan because the government now has an instrument to directly tackle the recession in the country.”

    The Secretary General of the National Union of Textile Garment and Tailoring Workers of Nigeria (NUTGTWN), urged the Federal Government to engage all stakeholders in the implementation of the ERGP.

    “It is quite commendable that we have a growth and development plan for the nation. It is better late than never. All stakeholders including labour should be engaged in its implementation,” Aremu said.

    NLC’s  General Secretary Peter Eson-Ozo said the plan would help in tackling the nation’s economic woes by giving due attention to sectoral development.

    He, however, said that labour had emphasised that the plan should have targeted grassroots on a bottom-top approach.

    He expressed dismay that the grassroots was not sufficiently engaged in the process of the roadmap to economic recovery, saying that inputs from the constituencies and interest groups should have enriched such a document.

    According to him, stakeholders were not carried along from its conceptualisation to finishing. Rather, the government had only developed it consulting with stakeholders.

    Eson-Ozo said: “By the way, what is crucial is that they needed to dutifully implement it and see that the recession is actually tackled by all means.

    “So, we do hope that the policies evolved will work in the directions of the anticipated objectives and ultimately tackle the recession.”

    Although some capital market stakeholders and financial pundits commended the medium-term economic development plan 2017-2020. But many of the experts were cautious about the strategic direction and the plans’ implementation

    They said the economic blueprint could give the much-needed direction to government’s economic development agenda, especially with the inclusion of the critical stakeholders.

    The launch was attended by the leadership of the National Assembly, the Nigerian Governors’ Forum (NGF), Central Bank of Nigeria (CBN) and relevant Ministries Department and Agencies (MDAs).

    According to them, the lack of political alignment within the ruling party and the various arms of government, the timing of the blueprint and the vagueness of the key performance indices (KPIs) to measure and guide its implementation may be its undoing.

    Commenting on the ERGP launch Elumelu noted that investors’ confidence was being restored and the productive sector being stimulated by the Federal Government’s latest moves, which according to him, were necessary to revamp the economy.

    He said: “I would like to commend the Federal Government of Nigeria and President Buhari on the recent launch of the ERGP. It is laudable that the government widely consulted with the private sector in putting together this economic plan, which I believe should help address the immediate critical need of the Nigerian economy.

    “As a stakeholder in Nigeria, I enjoin everyone to support these lofty agenda of the Government, which hopefully should see the economy return to its deserved high growth path,” Elumelu said.

    According to him, “no doubt, the fundamentals of the local economy remain strong and all must work with the government to harness the potentials, not only for today but also for the benefit of future generations.”

    GTI Capital Group Chief Operating Officer Kehinde Hassan said the success of any economic growth plan will rest on the wholesome political will and alignment to push through the bitter and decisive measures needed to drive some of the reforms.

    According to him, the government has not demonstrated enough political will to curb wastages and redirect the scarce resources to critical infrastructural development.

    The Buhari-led government remains as bloated as the previous administrations, he said.

    Citing Senegal that collapsed its bicameral national assembly into unicameral in critical measure to reduce cost of governance, Hassan urged the government to reduce the cost of governance to the barest minimum and invest more in capital projects for considerable economic gains.

    A chartered accountant, Mr. Kareem Ahmed, said the government should direct the ERGP towards solving the main economic problem of stable power, noting that no meaningful economic development could be achieved with erratic electricity.

    He said that rather than the usual long list of priorities, the ERGP should have focused on one or two major problems with identifiable solutions and timelines for achievement.

    “We believe the Federal Government’s peace-making initiative in the Niger Delta region is a necessity for the successful implementation of the ERGP as it will help the country enhance the earnings needed to deliver on the objectives of the new economic plan,” the Cowry Asset Management Limited stated.

    Some analysts expressed concern over lack of definite KPIs and the overall implementation of the roadmap.

    Afrinvest Securities cited the continuing vagueness of the country’s foreign exchange management targets, which were critical to attract the much-needed Foreign Direct Investments (FDIs) required to support the ERGP.

    According to Afrinvest Securities, the absence of forward guidance on expected exchange rate posed a threat to the overall goal of stabilizing the macroeconomic environment.

    Afrinvest stated: “Our conversations with foreign investors continue to indicate that a bold policy action on the exchange rate and measures to improve liquidity in the space remain a major concern. Hence, a follow up guidance, beyond commitment to improve system liquidity as documented in the ERGP, is still a necessity.”

    Describing as laudable ongoing efforts to reduce fuel importation by revamping local refineries, the company noted that increased local production will boost government’s revenue drive. , these would require significant investment in capacity upgrade as well as close monitoring of operating performance.

    The Afrinvest analysts commended the ERGP for recognising the strategic importance of transport and transport infrastructure to the attainment of national economic objectives.

    They, however, pointed out that government’s spending alone might not be sufficient for the investment required to attain the desired result. He pushed for private sector participation for effective delivery.

    “Overall, we believe the ERGP like many economic road maps in Nigeria clearly captures the critical challenges currently facing the economy and proposes strategies to address them. However, our concern remains that Nigeria is often long on planning but short on implementation and delivery with recent policy pronouncements as references. That said, we believe that the plan to carve out a ‘Delivery Unit’ within the Presidency as well as the Ministry of Budget & National Planning to champion the monitoring, evaluation and implementation of the plan, is a step in the right direction,” Afrinvest stated.

    CardinalStone Partners described the ERGP as ambitious but that it would require much more hard work to achieve the broad targets under the plan. The firm faulted the ERGP for lack of specifics on the measures that would be adopted to improve foreign exchange liquidity and narrow the spread between the interbank and parallel market rates.

    It said: “After two years of policy execution malaise, a coherent policy was overdue. Whilst the plan provides some grounds to suggest an eventual lift-off given the ambitious targets that have been set, concerns persist regarding its actual implementation.

    “The biggest concern, which relates to whether a shift is underway that could restore confidence in the CBN’s management of the currency, is not explicitly answered by the plan. The wording on foreign exchange liberalisation suggests that this is still work in progress, and broadly adopts the need for flexibility, which in itself will not provide enough comfort for investors,” CardinalStone Partners said.

    The investment firm noted: “Achieving these targets in the next three years seems quite ambitious given the country’s sluggishness in policy implementation or execution.

    “Hence, we do not think the plan has provided enough basis to change our earlier expectations for the macro-environment and capital market activities in 2017.”

    The Project Director, Cassava: Adding Value for Africa(C:AVA), Prof Kolawole Adebayo identified political risk as a major threat to the successful implementation of government Economic Recovery and Growth Plan (ERGP).

    He noted that there were numerous threats to the success of the ERGP, with the plan coming at the tail end of the first term of the present regime.

    The government, he explained,  has barely one more year to prove that the  ERGP will not go the way of its forebears.

    According to him, there is little reason to question the government’s capacity to intervene if something goes seriously wrong after 2019.

    He said the success of the ERGP would depend not only on its implementation but also on the commitment of the succeeding administration to see it through to the terminal year.

    His words: “Some of the commodities zeroed on have longer gestation periods as a such as a short term development plan will work . I don’t think the component that deals with agriculture was well thought out.”

    He said the real challenge was whether the recommendations and policy issues in the plan were realistic, considering the short time frame, or whether the policies were not too ambitious in their targets.

    The National President of Federation of Agricultural Commodities Association of Nigeria, Dr Victor Iyama,  believes cutting  down on  spending and increasing infrastructural investment spending will set the stage for better growth.

    Iyama noted that it is possible for the government  to achieve these targets if it is well executed.

    He said: “All that is being planned is good but in this country, the challenge of poor execution.if well executed I see it working.”

    A Professor of Food science and fellow of the Nigerian Academy of Science, Isaac Adeyemi ,noted  that  the blueprint  was necessary to address  the country’s economy would remain on a path of decline.

    He said government should take ownership of the plan, by taking responsibility for its full implementation.

    He said the private sector and stakeholders should be involved in the implementation of the plan. However, to strengthen governance.

    He said he would love to see performance management reflected not only “defined, clear and measurable deliverables for every ministry, department and agency of government,” but for same to become targets by which every minister and public office holder would be measured.

    An economist based in Lagos, Olatunji Adeoye, said one of the challenges facing the current administration was in the area of economy. He commended the ERGP policy plans adding that Nigerians should cooperate with the government to make the initiative work.

    He said it will give the economy the needed direction and opportunity to recover after it slipped into recession last year.

    He said many foreigners will not be interested in investing in the economy, and will also  have long-term plan on how to grow it. “We are likely to see more capital inflows as the economy takes shapes in the months ahead. We are happy that crude oil prices is rising and will continue to rise in the coming months and that is important for the economy to recover,” he said.

    Another economist, Lasak Mojeed, said implementation of the ERGP is key because here  are several exceptional and great documents that are in the custody of government but are never implemented. He said the ERGP is a great concept but will be greater at implementation.

    “Until we see it  working, and government moves from paper to action, nothing will come out of it,” he said.

    He said the content of the ERGP shows that government is already approaching the solution to the nation’s economic challenges with the same will and commitment it had demonstrated in the fight against corruption and economic development.

    He said the fact that the ERGP had brought together all the sectoral plans for agriculture and food security, energy and transport infrastructure, industrialisation and among others means it can actually be used to revive the economy.

    The President, Shippers Association Lagos State, Mr Jonathan Nicol, also said the number of empty containers leaving the ports were many because the government and the people of Nigeria were yet to go back to the land as it was done using the first republic.

    “Agriculture was the main stay of the economy before the oil was discovered in large quantity. Successive government had paid lip services to the development of agricultural sector. Therefore,  it is to the benefit of Nigeria and Nigerians if the current administration focuses of the sectors to boost the economy and provide employment to the restive youths across the country,” he said.

    But, an importer, Mr Sesan Adelaja, cautioned the government to be careful of portfolio farmers that truncated the Operation Feed the Nation and Green Revolution initiatives of Obasanjo and Shehu Shagari administrations.

    Adelaja identified peasant farming as the bane of agricultural development of the country and urged the governments at all levels to embrace mechanized farming to boost export.

    The ERGP initiative, he said, would only have meaning to Nigerians if it translates to foods on their tables and money into their pockets.

    Odilim Enwegbara, an economist, told The Nation that “the problem here is that there’s no fully interrogated economic recovery and growth road map. Economic assumptions they have made in the ERGP are too generic and too loose. They might have told some beautiful stories, but there is truly nothing serious accompnaying the beautiful economic stories. In other words, all was done without specificity and without how they will be achieved and the specific outcomes.”

    Economic road map, he noted, “like a building architectural drawings should only make sense when the bill of quantities is known and financing sources are clearly stated. In other words, it is not enough to state some good economic intentions unless they are accompanied with enough ways about how they are to be realised.”

  • Oil and Gas Free Zones Authority unveils four-year roadmap

    •To grow investment by 80 per cent

    The Oil and Gas Free Zones Authority (OGFZA) has unveiled a four-year roadmap, which is designed to achieve 80 per cent increase in investment inflow to the country.

    Its Managing Director, Mr. Umana Okon Umana, spoke while unveiling the roadmap at the end of a two-day  management retreat.

    Umana said the adoption of the roadmap would guide OGFZA’s operations for the next four years.

    He explained that “the roadmap revolves around OGFZA’s vision to be the premier agency of government attracting investments into Nigeria through the oil and gas free zones”.

    Umana added that one of the key goals of the roadmap is guided by OGFZA’s mission statement to facilitate investment inflow for the optimal benefits of stakeholders in the free zones.

    The retreat, he said, resolved that all work processes in OGFZA would be automated to optimise performance.

    According to Umana, the retreat anchored on the theme, “Enhancing service delivery in the Oil and Gas Free Zones in Nigeria”, agreed on a standard operating procedure to enhance job performance efficiency.

    The retreat, he added,  agreed on a six-point set of values to engender the right organisational culture for OGFZA.

    The new culture orientation binds the management and workers of OGFZA to live by the creed of integrity, passion for their job, transparency and accountability, creativity, professionalism and respect (for self, clients, time, etc).

    His words: “With a roadmap drawn up and core values agreed to provide the right culture orientation to drive operations at OGFZA, we can now engage investors and operators in the oil and gas free zones in a manner that facilitates the achievement of our mandate.”

    Umana stressed that the new work ethics in the agency would emphasise performance, reward exceptional contribution and accept no excuses for failure.

    He described the retreat as “a very rewarding engagement” that has set the tone for OGFZA to move in the right direction, projecting that the impact of the brainstorming session would be seen and felt immediately.

    “The rebranding is well underway and with it a new way to doing business and dealing with clients,” he said, adding that he was ready to drive the change in the investment agency.

    Umana acknowledged the “excellent presentations by resource persons” at the retreat and said the era of excellence has dawned to “impact work processes, training, manpower development and service delivery in all ramifications at OGFZA”.