News

Nigeria @65: Economy Calls for Sober Reflection, Says LCCI

Published

1 month ago

October 1, 2025

Admin

By Oso Abidemi

As Nigeria marks its 65th independence anniversary, the Lagos Chamber of Commerce and Industry (LCCI), has called for sober reflection, warning that while key economic indicators suggest cautious optimism, the reality for most citizens and businesses remains harsh.

LCCI President, Gabriel Idahosa, said in a statement that Nigeria stands at a critical crossroads where reforms must move beyond numbers and translate into real relief for households, workers, and enterprises.

“Key indicators are showing some positive trends worth highlighting. Economic growth is accelerating with Q2 GDP growth at 4.23 per cent.

“Productivity in the oil and gas sector is recovering. Headline inflation, while still elevated, has eased to 20.12 per cent as of August.

“The naira is appreciating and now trending below N1,500/USD. External reserves have strengthened above $42 billion,” he said.

Yet, he stressed, these improvements have not eased the cost-of-living crisis faced by Nigerians, many of whom still grapple with soaring food prices, rising unemployment, and weak purchasing power.

For businesses, he added, the environment remains tough with high costs, unstable electricity supply, and regulatory uncertainties.

Idahosa urged government to ensure a transparent rollout of tax reforms, provide clarity for investors, and adopt fiscal measures that bring down costs for manufacturers and SMEs without undermining reserves.

He also pushed for policies that accelerate industrialisation, boost local manufacturing, and drive export growth, citing the 30 per cent Value-Addition Export Bill and the Nigeria First Policy as key opportunities.

“SMEs and startups, the backbone of our economy, need stronger support through fair taxation, transparent regulation, and policies that truly stimulate the real economy,” he said.

The LCCI boss noted that while statistics may give a sense of progress, they mean little unless they ease the burden on ordinary Nigerians – families struggling with school fees, young people seeking jobs, and small businesses battling to survive.

“At 65, Nigeria stands at a pivotal juncture. Sustained reforms, policy consistency, and collaboration between the public and private sectors are crucial if we are to unlock our potential and secure a prosperous future for our people,” Idahosa said.

News

FG Targets Guinness World Record with 3.6km Dining Table in Abuja

Published

3 hours ago

November 6, 2025

By Onyeanya Ebere Immaculata

The Federal Government will attempt to break the Guinness World Record for the longest dining table during the Mega Renewed Hope NIHOTOUR Gastronomy Festival slated for December 6 in Abuja. The 3.6-kilometre table is expected to host between 2,000 and 3,000 participants.

Director-General of the National Institute for Hospitality and Tourism (NIHOTOUR), Dr. Abisoye Fagade, announced this on Thursday alongside the Minister of Art, Culture, Tourism and the Creative Economy, Hannatu Musa Musawa.

Fagade said the record attempt will be followed by communal dining, cultural displays, music, and comedy, adding that the initiative aims to position Abuja as a major cultural destination.

He noted that the festival aligns with President Bola Tinubu’s Renewed Hope Agenda, promoting tourism, hospitality, and youth empowerment through skills development.

Minister Musawa described the event as a platform for economic inclusion and creative growth, highlighting gastronomy’s role in national development alongside film, music, and fashion.

The week-long festival, themed “Oriki: Taste of Culture,” will feature exhibitions, culinary masterclasses, food tastings, and investment dialogues showcasing Nigeria’s rich food heritage.

President Tinubu is expected to officially unveil the festival and record attempt in Abuja.

News

Senate Clears Air Peace, Faults NSIB Over Drug Allegations

Published

3 hours ago

November 6, 2025

By Onyeanya Ebere Immaculata

The Senate has cleared Air Peace of wrongdoing in the July 13 runway overrun at Port Harcourt International Airport, describing the drug and alcohol allegations against the airline’s pilots as “inconsistent and uncoordinated.”

The decision followed an investigation by the Senate Committee on Aviation, which reviewed the Nigerian Safety Investigation Bureau (NSIB), report and found discrepancies that could harm Nigeria’s aviation reputation.

Committee Chairman, Sen. Abdulfatai Buhari (Oyo North), said the aircraft sustained no damage and returned to Lagos the same day, warning that inaccurate reports could erode global confidence in the country’s air safety ratings.

He commended Air Peace and other domestic carriers for maintaining strict safety standards and urged regulators to support indigenous airlines.

Air Peace Chairman, Allen Onyema, criticised the NSIB’s handling of the matter, calling it misleading and damaging to the airline’s reputation.

He clarified that the incident resulted from human error, not mechanical failure, and reaffirmed the airline’s commitment to safety.

The Senate is expected to issue a final report recommending better coordination and clearer communication among aviation regulators.

Defence and Security

Army Chief Pledges Better Welfare, Fair Postings for Troops

Published

3 hours ago

November 6, 2025

By Onyeanya Ebere Immaculata

Chief of Army Staff, Lt.-Gen. Waidi Shaibu, has pledged to prioritise troop welfare, transparency, and fairness in postings to boost morale and strengthen operational efficiency.

Shaibu made the promise on Thursday in Maiduguri during an interactive session with defence correspondents as part of his operational tour of the North-East.

He commended troops for their resilience in defending the nation and assured that the Army would sustain and improve the soldier-first welfare policy introduced by his predecessor.

“As soldiers get what is due to them on time, we will extend that support to their families while they serve their fatherland,” he said.

The COAS also vowed that merit and professionalism would guide all postings and appointments, ensuring fairness and competence in leadership.

Shaibu, who assumed office on October 30, 2025, described morale as a key component of fighting power and reaffirmed his commitment to timely payment of allowances and other entitlements.

His visit was part of efforts to assess field operations and enhance the welfare of frontline troops battling insurgency in the region.

(NAN)