Metro

‘I took hard decisions for Nigeria’s development’, Tinubu tells China-based Nigerians

Published

1 month ago

September 7, 2024

Nigeria’s President Bola Ahmed Tinubu has reiterated that the decisions he has taken since he became the Nigerian leader last year have been geared towards making the country as developed as the first world countries.

President Tinubu, who made the assertion while addressing Nigerians resident in China on Friday on the sideline of the Forum on China-Africa Cooperation (FOCAC), said despite the hardship being faced by citizens, his reforms were in the best interest of the country.

Speaking specifically on the increase in the price of Premium Motor Spirit (PMS), popularly known as petrol, by the Nigerian National Petroleum Company Limited (NNPCL), Tinubu said the petrol price hike and other reforms by his administration are part of an overall strategy to set Nigeria on the path of economic growth.

“Nigeria is going through reforms, and we are taking very bold and unprecedented decisions. For example, you might have been hearing from home in the last few days about fuel prices,” Tinubu said.

“What is the critical part to get us there if we cannot take hard decisions to pave the way for a country that is blessed and so talented?

“The more you want everything free, it will become more expensive and long-delayed to achieve meaningful development.”

He added that though Nigerian citizens are crying out over his policies which have plunged majority into poverty, the hard decisions are crucial to economic prosperity.

“But, can we help it? Can we develop good roads like you have here? You see electricity being constant in quantity and quality. You see water supply, constant and running, and you see their good schools. And we say we want to hand over a banner without stain to our children?

“So many of you are so talented, speaking very fluent Mandarin. It is what you contribute and tell them at home that will reflect in the attitude of our people.”

The President stated that though it is not always easy to have a national consensus on issues, he is ready to take the hard decisions to move the nation forward.

“One economic action leads to another, and it is in your hand to build our nation. Mine is to provide the leadership, and I am committed to doing just that. We are focused, and I have a very good team,” he added.

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Metro

ZESCO says Zambians can enjoy improved power supply but offers condition

Published

9 hours ago

October 9, 2024

Isaac Dachen

State-owned Zambia Electricity Supply Corporation Limited (ZESCO) has assured Zambians of improved power supply spanning seven-hour daily, depending on the approval of its emergency tariff adjustment by the Energy Regulation Board (ERB).

ZESCO, which is Zambia’s largest power company producing about 80% of the electricity consumed in the country, made the commitment during a public hearing held at Mulungushi International Conference Centre in Lusaka on Monday.

In his address, Victor Mapani, ZESCO’s Managing Director, stated that the proposed tariff increase would allow the company to raise $15 million monthly to import 300 megawatts (MW) of electricity.

“ZESCO’s ultimate goal is to add 788 MW of power to the 400 MW it currently imports from South Africa, Mozambique and Zimbabwe,” Mapani said.

Also speaking at the forum, Mark O’Donnell, representing the Business Coalition Task Office, noted that ZESCO’s tariffs were more affordable than diesel generators, which many households and businesses had resorted to due to Zambia’s energy challenges.

He emphasized the coalition’s support for the tariff hike but urged ZESCO to ensure efficient use of resources.

Ashu Sagar, President of the Zambia Association of Manufacturers (ZAM), raised concerns about ZESCO’s inconsistent load-shedding schedule, which he said had disrupted production planning and increased costs in the manufacturing sector.

On his part, ERB Board Chairperson, James Banda, announced that the board would make an independent decision on ZESCO tariff adjustment request on Thursday, devoid of political influence.

Metro

All the choices we have made are for sustainable, inclusive growth— Tinubu

Published

15 hours ago

October 9, 2024

Isaac Dachen

Nigeria’s President Bola Tinubu has reiterated that all the choices his administration has made since assuming office 17 months ago have been made to stop the country’s decline and put it on a path to sustainable and inclusive growth.

Tinubu, who made the assertion at the 54th Annual Accountants Conference in Abuja on Tuesday, said it was encouraging that Nigeria’s Gross Domestic Product growth for the first and second quarters of 2024 was positive, giving credence to his reforms and policies.

The president, who was represented by Minister of Budget and Economic Planning, Alhaji Abubakar Bagudu, noted that it was gladdening that inflation was on a downward trend, and the foreign exchange market was stabilising, with encouraging investment signals.

“We are continuing with innovative reform measures: digitisation of revenue collection and government services, consumer credit system to boost manufacturing and enable access to goods and services,” Tinubu said in his address to the audience.

“Our reforms include removing punitive subsidies to the economy. Revenue bleeding has reduced, and the three tiers of government are receiving higher allocations, which enable more support to vulnerable populations.

“Social investment spending is increasing, the minimum wage has increased, student loans are available, and interventions to support NANO, MSME, farming, fishing, and the livestock sector have increased.

“Our collective vision for Nigeria’s future is anchored on strengthening our institutions and nurturing a pervasive culture of accountability,” he said.

He added that his government was committed to leveraging cutting-edge technologies to boost transparency and efficiency and cultivate strategic partnerships to pave the way for sustainable development.