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9 takeaways from Buhari’s Democracy Day speech



Buhari House of Reps fresh $5.513bn loan

9 takeaways from Buhari’s Democracy Day speech

As usual, President Buhari has addressed the nation, listing the many things this administration has achieved on his democracy day speech.

In his Democracy Day broadcast, President Buhari noted that this was a difficult time as the world is still battling with the deadly coronavirus pandemic that has infected millions and hundreds of thousands.

President Buhari spoke a lot about the diversification of the economy, listing steps the government has been taking and how far it has come.


Highlights of the major things from the president’s speech.

1. On agriculture

“Agriculture remains the key to our economic diversification strategy,” the president said. The Presidential Fertilizer Initiative programme is making significant progress and a number of direct and indirect jobs have been created as a result of this.

The government will continue to support the agriculture sector through various schemes. The cotton, textile and garment sector is being revamped.

Rural farmers have access to credit.

2. On non-oil exports

Buhari said: “Our efforts on growing non-oil exports have started to yield some results.” Nigeria’s revenue from cocoa and sesame seed increased by $79.4 million and $153 million, according to the president.

Nigeria is developing its strategy to grow intra-Africa trade through the Africa Continental Free Trade Area Agreement as the continent presents a huge opportunity for its export base diversification

3. Ease of doing business

“Nigeria has risen by 25 places on the World Bank’s Ease of Doing Business ranking from 146th to 131st and is now rated as one of the top ten reforming countries.”

The reason for this can be attributed to the Visa on Arrival policy and other laudable initiatives. The government is confident that the rating will improve further.

4. On mining

“We remain committed to expanding our mining sector.” Some of the projects underway include resuscitation of the Ajaokuta Steel Plant and harnessing the supply value chain in gold production.

5. On power

“The power sector remains very critical to meeting our industrial development aspirations.” This administration is taking care of the challenges that still exist in the delivery of power through different strategies

6. On transportation

“Another critical sector to improving our economic competitiveness.” The president said they are growing the stock and quality of Nigerian road, rail, air and water transport infrastructure.

7. On Niger Delta region

“We have restored peace in the Niger Delta Region and maintained our oil production levels.”

The president is committed to ensuring that the development meant for the people of the Niger Delta get to them.

8. On security

“In the area of security, we remain unshaken in our resolve to protect our national infrastructure.” According to the president ending all forms of criminality including banditry and insurgency is being prioritized.

9. On COVID-19

“The impact of the pandemic has disrupted our economic system.”

Buhari is confident that the steps being taken by the PTF would result in flattening the COVID-19 curve.

Recall that following phase II relaxation of lockdown which accommodated a nationwide ban lift on religious gathering, the federal government issued a list of fresh guidelines.


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Labour Force

Kogi Governor Approves Implementation of N30,000 Minimum Wage for workers



Kogi Governor Approves Implementation of N30,000 Minimum Wage for workers

Kogi state governor, Yahaya Bello, has approved the implementation of N30,000 as minimum wage for the workers in the state.


The secretary to the state government, Folashade Ayoade disclosed this on Tuesday after an extensive meeting with the organized labour in Lokoja


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She blamed the delay in the implementation on the inability for the committee to meet regularly due to the covid-19 pandemic which has been overcome.


The SSG equally commended the organised labour for their understanding and patience, which she said has resulted into the signing of the implementation of the new minimum wage.

Read Also: FCTA Set to Implement Minimum Wage for FCT Workers

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CBN to End Forex Sales to Commercial Banks in 2022



Author: Eunice Johnson, Abuja 

The Central Bank of Nigeria (CBN) has put Deposit Money Banks (DMBs) on notice that it will stop selling forex to them by the end of 2022. CBN Governor Godwin Emefiele made this known in Abuja on Thursday at the end of the Bankers’ Committee Meeting where he also introduced the RT200 Programme.




Emefiele said the time had come for the banks to go out there and source for forex by funding entrepreneurs with ideas. The CBN, Emefiele said, will support the banks by granting rebates and other support until the banks find their feet in sourcing their forex by themselves.

He also disclosed that the apex bank’s policies and measures have led to a significant improvement in diaspora inflow from an average of US$6 million per week in December 2020 to an average of over US$100 million per week by January 2022. He added that the CBN would be reviewing these intervention programmes going forward to ensure that they continue to achieve the desired results.

He said international bodies, including some embassies and donor agencies, have been complicit in illegal forex transactions that have hindered the flow of foreign exchange into the country.


Read Also: CBN Encourages Nigerians to Accept E-Naira

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Customs Corner

Customs CG Deploys 37 Comptrollers as Comptroller Attah Heads Kebbi Command



Customs CG Deploys 37 Comptrollers as Comptroller Attah Heads Kebbi Command

Author: Gift Wada, Abuja

The Comptroller General of Customs Col. Hameed Ibrahim Ali (Rtd.) has approved the deployment of 37 Comptrollers to various Units, Departments and Commands across the country.

This was disclosed in a release signed on Tuesday by the Customs Deputy National, DC Timi Bomodi for the Comptroller General of Customs.

Among those deployed are the present National PRO of Customs Comptroller Joseph Attah who will assume the office of Area Controller of Kebbi Command, Comptroller AAS Oloyede who shall be moving from ICT/MOD to Tin Can Island Port Command, while Comptroller SI Bomoi to FCT Command. Other postings are Comptroller BA Jaiyeoba to Oyo/Osun Command, Comptroller A Dappa-Williams to Eastern Marine Command, Compt. MA Umar Kano/Jigawa, Compt. KC Egwuh ICT/MOD, Compt. LM Mark Enugu/Anambra/Ebonyi, Compt. T Tachio CTC Kano, Compt. AA Umar Western Marine, Compt. M Dansakwa North Eastern Marine, Compt. AC Ayalogu T & T and Compt. KD Ilesanmi will assume duty as Comptroller Board among others.


Ali in postings released on 7th of February, charged the newly posted Comptrollers to justify the confidence reposed in them by NCS Management by bringing to bear their years of experience and training in trade facilitation and anti-smuggling activities on their new assignment.


Given the enormous expectations of government regarding revenue generation in the current year, the Comptroller General reiterated the need for all Area Controllers and Unit heads to take full charge of the affairs of their Commands by ensuring absolute compliance with extant fiscal policies while leveraging on the efficient management of data to optimize trade facilitation and revenue collection.

Furthermore, the CGC directed all officers to be extremely vigilant in protecting the lives and wellbeing of Nigerians by ensuring the full fortification of our borders against the incursion of smugglers and other cross border criminals.

Read Also:

Customs Raises Concerns over Finance Act as Senate Sets N3trn Target for Revenue Agencies

Comptroller Ali Ibrahim Assumes Duty as New Customs FOU Zone ‘C’ Boss

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