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NIGERIA SHOWCASES ECONOMIC RESILIENCE AND LEADERSHIP AT 2024 IMF/WB SPRING MEETINGS

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The Federal Government of Nigeria has reinstated its resistance and strategy to response to global challenges.
President Bola Ahmed Tinubu disclosed this during a recent spring meeting with World Bank and representatives of the International Monetary Fund, ( IMF), in Abuja.

President Tinubu who was represented by Minister of Finance and Coordinating Minister for the Economy, Wale Edun showcased the nation’s economic resilience and strategic response to global challenges.

The 2024 Spring Meetings highlighted the global economy’s improved resilience, acknowledged by economic leaders worldwide. Despite a global economic environment challenged by high inflation rates and ongoing geopolitical tensions, Nigeria has emerged as a regional leader in promoting sustainable economic practices.

The Bank and the Fund have commended Nigeria’s efforts in tightening monetary policies, revising the country’s growth forecast upwards to 3.4% for this year – a reflection of the effectiveness of the administration’s economic policies.

Edun, who also serves as the Chair of the African Caucus, emphasised Nigeria’s pivotal role in ratifying the third chair for Sub-Saharan Africa at the IMF, a significant step in bolstering Africa’s voice on global economic issues.

The government’s commitment to economic stability remains unwavering. HM Edun highlighted several key initiatives aimed at bolstering Nigeria’s economy, stating:

” Our focus on agriculture, manufacturing, and electricity aims not only to stabilise prices but also to secure food and reduce dependency on imports. These initiatives, coupled with the inflation targeting policies of the Central Bank, are expected to reduce inflation by the second half of the year, which would allow for a potential reduction in interest rates”

The Minister also stated that significant efforts are being made in the housing sector to support the rapid development of sustainable value chains, expected to have a catalytic effect on the economy and make housing more accessible.

Regarding the National Social Investment Programme (NSIP), the Minister noted the recent review and improvement of its financial architecture to enhance targeted delivery and efficiency, with direct transfers having recommenced, providing critical support to vulnerable populations.

He reaffirmed the administration’s commitment to ensuring the Naira’s position as a strong store of value and mentioned ongoing dialogues with the organised private sector to learn how policy can best support their growth and sustainability.

“On the foreign exchange front, the Central Bank of Nigeria (CBN) has made significant strides in enhancing liquidity and creating a fair, more transparent FX market. These efforts have been supported by the Ministry of Finance through the strategic issuance of financial instruments through the Debt Management Office (DMO), designed to attract foreign currency inflows.”

“The Federal Ministry of Finance continues to work closely with the World Bank on Nigeria’s application for up to $2.25 billion, comprising $1.5 billion in Development Policy Financing and $750 million in Programme-for-Results Financing. We expect that the Board of the World Bank will meet in June 2024 to consider the final approval of this financing package”.

Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, affirmed the Ministry’s commitment to facilitating the rapid implementation of government policies. “We are dedicated to aligning our actions with the administration’s policy thrust, ensuring that initiatives are effectively executed and achieve their goals”, stated Mrs. Jafiya.

“With the ongoing adjustments and the resilient and resourceful spirit of our people, we are confident of a brighter, more prosperous future for all Nigerians,” concluded Edun.

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Zulum @57: Tribute to a Trailblazing Teacher.

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By: Inuwa Bwala.
I have read a lot of tributes to Borno state Governor, Professor Babagana Umara Zulum on his 57th birthday anniversary.
In most, Nigerians celebrate many things about Professor Babagana Umara Zulum.
To many, his unique leadership style, to others, his developmental strides and yet to others his many ventures into danger zones, the rebuilding of schools, his sleepless nights on duty and many other things.
I want to celebrate something quieter, and maybe more rare: seeing him as the teacher that he is, using
Borno as a big lecture hall, in which he deploys his teaching technique.
I dare say that, Governor Zulum goes to schools unannounced, not for photo shots, but to check attendance, to ask pupils questions, to see if the teacher is teaching. That is a lecturer’s habit.
He commissions hospitals and ask about drug inventory and rosters. That is a supervisor’s habit.
He stands in the rain with displaced families, not to make a speech, but to take notes. That is a researcher’s habit.
Most politicians campaign on promises, but he he is not seeking any position and does not need to campaign. He does things out of passion for true development.
At 57, Zulum reminds me that leadership is not about sitting in the office of power. It’s about sitting on the floor with students, under a tree with farmers, and in the dust with people who have lost everything, and then going back to “prepare the next lesson plan” for Borno redemption.
People often say a leader must choose between the office and the field, the book and the gun, and between the seminar and the street. Governor Zulum seems to have broken that rule by chosing both. And ir is working for Borno.
For me, today, I do not just celebrate a governor turning 57, I celebrate a teacher who took his entire state as his assignment, and refused to submit it half-done.
As the only Governor in Nigeria, who foes not aspire for any other political office after this, he may be retiring into a future only God know about, but one must not fail to state, that, Governor Zulum’s strength lies, not in the paraphenilia of governance but in the dedication of a leader who work, teach to graduate Borno into peace, dignity, and pride.
Happy 57th Birthday, Proffessor Babagana Umara Zulum.

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Stakeholders, Staff Benefit from NDPHC’s Procurement Training Initiative

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The Niger Delta Power Holding Company (NDPHC) has reaffirmed its commitment to transparency, accountability, and efficiency in project delivery by hosting a high-level refresher and sensitization training for its management team, staff, and stakeholders.Organized by the Human Resources Department at the company’s headquarters, the programme was designed to strengthen institutional capacity, refresh knowledge, and promote greater effectiveness in the discharge of responsibilities.The training was anchored on the theme “Operationalizing by Way of Experimenting the Procurement Processes While Navigating the Pre-Bidding Stage Through to Post Bidding”, and facilitated by DEVD Integrated Project Ltd. Discussions focused on procurement processes, emphasizing due process, compliance, and optimization in power sector project execution.Participants were guided through the critical stages of procurement, from pre-bidding to post-bidding, with facilitators stressing the importance of adherence to established procedures. The session also provided a platform for robust engagement on stakeholder collaboration, highlighting how effective partnerships can drive efficiency and accountability in project delivery.The initiative enjoyed strong backing from the NDPHC Executive Management (EXCO), led by Engr. Jennifer Adighije, FNSE, FINEEE, Managing Director/CEO. She was joined by her team: Engr. Bello Babayo Bello, FNSE, FINEEE, Executive Director (Networks); Engr. Abdullahi Kassim, Executive Director (Generation); Hon. Dr. Steven Andzenge, Executive Director (Legal Services); Hon. Chukwuma Umeoji, Executive Director (Corporate Services); Hon. Omololu Agoro, Executive Director (Finance & Accounts); and Hon. Patrick Obahiagbon, Executive Director (Strategy and Commercial). Their collective presence underscored the importance of the training to the company’s strategic vision and operational goals.Facilitators encouraged participants to apply the knowledge gained to improve operational efficiency and foster stronger collaboration across departments and with external stakeholders. They noted that the lessons learned would help strengthen the company’s institutional framework and ensure that projects are delivered in line with global best practices.The event brought together management staff and other relevant stakeholders, creating an opportunity to exchange ideas and refresh their understanding of procurement processes. It also reinforced NDPHC’s commitment to professional development, transparency, and accountability in its operations.By investing in capacity-building programmes such as this, NDPHC continues to demonstrate its resolve to enhance professional standards and institutional effectiveness. The company emphasized that the training reflects its broader vision of building a stronger, more accountable institution capable of delivering sustainable power solutions to Nigeria.The sensitization exercise forms part of NDPHC’s ongoing efforts to ensure that its workforce remains equipped with the skills and knowledge required to meet the demands of the power sector. It underscores the company’s belief that continuous learning and adherence to due process are essential for achieving its corporate objectives and delivering value to stakeholders.

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Hon. Jafaru Yakubu Commends President Tinubu’s Approval of Mutum Biyu–Garba Chede Road Reconstruction

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Hon. Jafaru Yakubu, Member of the House of Representatives and Chairman, House Committee on Nigeria–China Friendship Group, has commended President Bola Ahmed Tinubu GCFR for granting approval for the urgent rehabilitation and total reconstruction of the Mutum Biyu–Garba Chede Road, a 48km stretch in Taraba State.

Yakubu, who sponsored the motion in the House of Representatives calling for immediate intervention on the road, said the President’s approval is a bold and strategic response to the plight of commuters and communities along the corridor. He explained that the motion, which was debated and adopted by the House, underscored the dangers of continued neglect, including accidents, economic disruption, and the risk of total collapse.

He further acknowledged the National Security Adviser (NSA) Mallam Nuhu Ribadu for adopting a non-kinetic approach in addressing the crisis. According to Yakubu, the NSA’s intervention elevated the urgency of the project, treating infrastructure development as a vital instrument of peace, security, and stability. By drawing national attention to the road’s deterioration, the NSA highlighted the grave risks posed to lives, trade, agriculture, and access to healthcare.

The Mutum Biyu–Garba Chede Road, constructed in the early 1980s, has deteriorated severely due to age and lack of maintenance. With the collapse of the Namnai Bridge along the Jalingo–Wukari highway, the road became the sole alternative route for heavy-duty trucks, worsening its condition and exposing communities to untold hardship.

Hon. Yakubu assured his constituents that he will continue to work closely with the Federal Ministry of Works, FERMA, and the North East Development Commission to ensure the project’s swift execution. He emphasized that the House Committee on Works has already been mandated to conduct oversight and report back within four weeks, a step he believes will guarantee transparency and accountability in the delivery of the project.

“As Chairman of the Nigeria–China Friendship Group, I am deeply conscious of the importance of strategic partnerships in advancing national development. This reconstruction is not merely about infrastructure—it is about saving lives, strengthening commerce, and reaffirming government’s duty to serve its people. On behalf of my constituency, I extend profound gratitude to President Bola Ahmed Tinubu GCFR and the NSA for their steadfast commitment,” Yakubu declared.

The approval of this project, following Yakubu’s sponsored motion, is widely seen as a demonstration of leadership that listens and acts decisively. For communities in Mutum Biyu, Garba Chede, and adjoining areas, the reconstruction represents hope for safer travel, renewed economic activity, and restored dignity after years of neglect.

Analysts note that the development is not just about fixing a road but about reconnecting people, boosting agriculture, and reinforcing national cohesion at a time when infrastructure remains central to Nigeria’s growth agenda.

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