Metro

‘We appreciate your patience, but you must endure more’, FG tells Nigerians

Published

4 hours ago

November 8, 2024

The Nigerian government says it appreciates the endurance of Nigerians in the face of excruciating hardship and poverty in the nation, but, however, called on citizens to continue enduring the hardship and hunger as the reforms which President Bola Tinubu was implementing since assuming office in 2023 would soon yield favourable results.

Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who made the plea during an interactive session with the Senate Committee on Finance in Abuja on Thursday, said though the Tinubu-led government appreciated the endurance of Nigerians on the side effects of the economic reforms, more patience was needed as the reforms would turn out good in the long run.

According to Edun, the teething problems from the reforms were already over and Nigerians should expect better days ahead.

“I think we need to commend Nigerians for staying the cause to this stage of getting benefits,” the Minister said while addressing the Committee.

“The two critical reforms on market-based price of Premium Motor Spirit (PMS) and foreign exchange, are now at the stage of results delivery and by extension, viability of the Nation’s economy through restoration of fiscal viability,” he noted.

“These two pillars of the economic reforms that have taken positive shape now portends additional revenue for government, recovery of the finances of NNPCL and strong basis for growing the economy, in terms of attracting investment and creating of jobs.

“Today we gather to deliberate on the pressing matters related to the sales of crude oil to domestic refineries in Nigeria, in Naira and its implication on the approved medium-term expenditure framework and fiscal strategy paper for 2024-2026 and what we should expect for 2025-2027.”

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Metro

Zambia seeks global support to boost sustainable housing

Published

21 hours ago

November 7, 2024

Isaac Dachen

The Zambian government has called for support from the international community to help it in developing sustainable human settlement initiatives, with an emphasis on providing decent housing, municipal services and social amenities in informal settlements.

The call came at the 12th Session of the World Urban Forum (WUF12), which was officially opened on November 4 by Egyptian President Abdel Fattah El-Sisi which Zambia is participating in.

Represented by Minister of Infrastructure, Housing, and Urban Development, Engineer Charles Milupi, and Minister of Local Government and Rural Development, Gary Nkombo at the forum which has the theme, “It All Starts at Home: Local Actions for Sustainable Cities and Communities,” the East African country emphasized the importance of local efforts in achieving global sustainability goals.

Zambia Monitor reports that during a courtesy visit to the Zambian Mission, Nkombo emphasized government’s commitment to sustainable human settlements, highlighting the development of Integrated Development Plans (IDPs) across all 116 districts in Zambia.

“Zambia’s participation reflects its dedication to realising the New Urban Agenda’s goals of well-managed urbanization by 2030,” Nkombo was quoted as saying.

He further outlined the government’s Urban Renewal Programme, which aimed to upgrade unplanned settlements, starting with Kanyama Compound in Lusaka and called on private financiers to collaborate with the government through public-private partnerships (PPP) to fund these upgrades.

“We urge stakeholders to join us in providing decent housing, municipal services, and social amenities in informal settlements through the PPP model,” he said.

He added to address development disparities between rural and urban areas, the government was advancing its decentralization agenda, empowering local authorities by increasing both functional and fiscal capacities through devolution.

In his remarks, Engineer Milupi highlighted Zambia’s need for additional investors to help reduce the country’s housing deficit, currently estimated at 1.5 A units.

Metro

Nigeria, Rwanda sign MoU to boost trade, investment

Published

1 day ago

November 7, 2024

Isaac Dachen

Nigeria and Rwanda have signed a Memorandum of Understanding (MoU) aimed at boosting trade and investment between the two countries.

The MoU which was sealed on Thursday by the Lagos Chamber of Commerce and Industry (LCCI)
and Rwanda’s Private Sector Federation (PSF) was signed at the ongoing 2024 Lagos International Trade Fair. It aims to deepen economic ties and create new opportunities for businesses in both countries.

In a statement issued by the Head of Communication of the Rwanda Embassy in Nigeria, Maureen Chukwura, the Rwandan High Commissioner to Nigeria, Amb. Christophe Bazivamo said the partnership is a shared vision of fostering a vibrant, interconnected African business landscape and affirmed Rwanda’s commitment to providing a conducive environment for business growth.

He added that the partnership will focus on various areas of cooperation, including trade facilitation, investment promotion, capacity building, and joint events organisation.

“This MOU is a testament to our shared vision—a vision of a vibrant and interconnected African business landscape where Rwanda and Nigeria stand as beacons of economic collaboration and mutual growth,” he said.

“The Rwandan government is fully committed to supporting this endeavour. We have implemented policies to streamline business procedures, enhance infrastructure, and promote a conducive investment climate, ” he added.

According to the statement, the MoU outlines specific steps to enhance collaboration in key sectors such as agriculture, particularly in Rwandan coffee and tea production, as well as energy, manufacturing, technology, and creative industries.

Under the agreement, the LCCI and PSF Rwanda will work to streamline trade procedures, promote cross-border investment, share relevant market information, and build business capacities through joint workshops and training programs.

“The partnership is expected to open new markets, create job opportunities, and strengthen business networks in both countries.

“The two parties plan to organise trade missions and business-to-business meetings and participate in each other’s trade fairs. These activities are set to begin in early 2025, with preliminary virtual meetings and visits planned,” the envoy stated.