Tag Archives: Unfolds

Minister Of Finance Unfolds Plan To Reset Economy

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Minister of Finance, Mrs. Kemi Adeosun, has said the government plans to reset Nigeria’s economy with structured borrowing, targeted investment and diversified growth.

Adeosun, who spoke to journalists after a special event hosted by the Lagos Business School at the weekend, also said part of the cash set aside to finance some energy projects would be used to help fund the budget.

“We have inherited a set of conditions that requires us to refine how we collectively work towards ushering in a new era in Nigeria,” she said.

Pointing to the impact of falling oil prices on the economy, the minister said: “In the past, we had the means but not the will. Now we have the will but we no longer have the money to invest. The safety blanket of oil has been ripped away, laying the poverty of Nigeria’s institutions bare.”

She added: “We have spent too many years tinkering at the edges of our institutions, our infrastructure and our economy and the mistakes and misjudgment of the last 40 years have set our clocks back by decades.

“We must collectively adopt a blueprint that equips the future generations to be creative and dynamic, that allows us to articulate a vision of a Nigeria, with a strong educational foundation; rich in depth of knowledge with a breadth of skills, an expansive infrastructure capable of servicing the needs of a nation of 150 million Nigerians.”

On the N1.8 trillion borrowings to invest in railway transportation, roads, housing, power and health, the minister said: “We are committed to a countercyclical budget expenditure model. This has been a success in other nations, offsetting the risk of recession and creating an economy which is not based on either fragile consumer spending or over-reliance on oil.”

Credit: Thisday

House Of Reps Unfolds Agenda

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Speaker of the House of Representatives, Yakubu Dogara on Tuesday said it would implement a legislative agenda aimed at improving the living conditions of Nigerians.

Dogara said this in his presentation of a draft of the legislative agenda of the 8th House of Representatives in Abuja. The speaker said the agenda outlined steps and prioritised legislative actions required to achieve set goals and objectives.

According to him, the legislative agenda takes lessons from the experiences of the 7th House of Representatives and seeks to consolidate the gains and achievements thereof. “The House recognizes that there remains widespread citizens’ distrust of public institutions and government generally.

“It is also recognized that there is a lot of public misconceptions and misperceptions about the functions and contributions of the legislature to Nigeria’s overall socioeconomic and political development.

“Yet, the legislature’s contributions to Nigeria’s democracy remain critical and important.

“The 8th House of Representatives will assert its role in providing leadership in the areas of accountable and transparent government, citizens engagement, as well as constituency representation,” he said.

Dogara added that the 8th House of Representatives would collaborate with the Senate and other arms of government to legislate for the common good of the Nigerian people. “Our legislative activities will cover critical spheres of life in Nigeria.

“The House will legislate to achieve reforms in economic development, tackle poverty and unemployment and confront the scourge of corruption and terrorism/security challenge.

“The House will also give priority to legislation to address environmental challenges such as desertification, erosion and pollution.

“The 8th House of Representatives will legislate to cut the cost of running government, reduce wastage and tackle revenue leakages,” Dogara said.

The speaker stressed that the House would play its part in rescuing the country from hunger, poverty, disease, social, economic, political and infrastructural challenges.

He said “the 8th House of Representatives, as peoples’ parliament, will be sensitive to public demands for transparency and accountability.

“Our legislative actions would therefore seek to build public confidence and trust and be responsive to citizens’ questions regarding the conduct of legislative business.

“The House will work for public good and serve as the institution that defends the rights of the people to an accountable and transparent government.”

Credit: NAN

Oduah Unfolds Social Contract With Anambra North

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On September 4, 2014, illustrious sons and daughters of Anambra North Senatorial zone, under the auspices of Anambra North Development Forum, converged on Sharon Hall, Onitsha  to discuss some pertinent issues that were critical to the growth and development of the zone.

At the forum, the common denominator in the discourse was that the seven local governments of Anambra North Senatorial District were created in 1991, along with other councils of Anambra State, but today, compared to others, a lot more was desired in the zone. Ironically, the zone still boasts of great sons and daughters that are highly educated, influential and highly placed in both the private and public sectors.

Nigeria‘s former Aviation Minister and the Senator-elect for Anambra North zone, Princess Stella Adaeze Oduah, presented a paper in the forum entitled: “Anambra North: Perishable Agriculture –The way to go for rapid rural development.” Though the contents of her presentation would be the subject for another day, Oduah did lament that the zone was yet to take its pride of place in Anambra State and Nigeria at large.

She said: “Today, our communities are faced with challenges beyond their comprehension. Despite our huge human and natural resources, our people remain on the lower rungs of the economic and political ladder.  Although, we have measured tremendous economic growth as indicated by the Central Bank of Nigeria’s Gross Domestic Product (GDP) index, this growth does not necessarily reflect the level of contentment of our people as compared to other nations of the world; it measures neither prosperity nor well-being.

“The politicians and bureaucrats, who represent our people are unable to understand why the enormous growth in economic activity in our country and the communities they come from, has led to the rising unemployment, increasing poverty, spreading urban slums and migrations from rural communities to cities, they can’t understand that the growths they are promoting are malignant-believing that the sickness that affects our society today –growth in crime, drug abuse, family breakdowns, civil disorder and environmental degradation are no more than the normal phenomena, which inevitably accompany economic development and progress.

“So, they concentrate their political, economic and social programmes on initiatives whose primary purpose is to make GDP grow quantitatively without its regards to the impact on our vulnerable communities.

“Only effective political representation of our people can offer real hope and change the situation.  This will be my social contract with the good people of Anambra North Senatorial district, of which I am an integral part of its rich history and culture. My experience in both the public and private sectors has prepared me for this task, in which networking capability, interpersonal ability and management of both human and material resources, is a necessary prerequisite for success at the National Assembly.

“The high point of this responsibility was my appointment by President Goodluck Jonathan, as the nation’s Minister of Aviation in 2012. That mandate oversaw the remodeling, construction, provision of runways, navigational equipment, control towers and security provisions at 22 airport locations in Nigeria.

“This was only possible through my ability to work at the highest level of government and with interactions with Ministers of Finance, Environment, Water, Works and a host of 22 state governments including the organised private sector.

“As a senator representing Anambra North, I definitely will use this networking ability to explore every opportunity to bring development to our rural communities, the urban centres and position of youths, women and other qualified people for employment in government and the private sector.”

Read More: sunnewsonline