Nigeria to become top middleincome economy by 2050 — Buhari

By Egena Sunday Ode

President Muhammadu

Buhari on Wednesday in Abuja launched a new longterm national development plan, the Nigeria Agenda 2050 (NA 2050), which aims to ensure that the country attains a Per Capita GDP of $33,328 per annum, placing her among the top middleincome economies in the world by 2050.

The President inaugurated NA 2050 before the commencement of the meeting of the Federal Executive Council at the Council Chamber.

He said the Plan has the vision of a dynamic, industrialized and knowledge-based economy that generates inclusive and sustainable development for the country.

He added that given the measures already in place for continuous plan implementation, successive Administrations will find the document useful in the delivery of electoral promises.

‘‘You will recall that in March, 2020, I approved the development of successor Plans to both Nigeria Vision 20:2020 and the Economic Recovery and Growth Plan (ERGP), 2017-2020. The Plans lapsed in December, 2020.

‘‘To give effect to this approval, I inaugurated the National Steering Committee in September, 2020 under the leadership of the Hon. Minister of Finance, Budget and National Planning and a Distinguished private sector operator, Mr. Atedo Peterside.

‘‘The Steering Committee is to superintend the preparation of the Nigeria Agenda 2050 and the National Development Plan (NDP), 2021-2025 to succeed the Nigeria Vision 20: 2020 and Economic Recovery and Growth Plan (ERGP), 2017-2020, respectively.

‘‘At the inauguration, I charged the Steering Committee to prepare inclusive Plans that would cover all shades of opinion and ensure even and balanced development, as well as put in place necessary legislations for continuous implementation of Plans even after the expiration of the tenure of successive Administrations.

‘‘This was achieved with the preparation of the Volume III of the NDP that deals with Legislative Imperatives for identified binding constraints to Plan implementation in Nigeria.

‘‘It is instructive to inform Council and indeed all Nigerians that I had on December 22, 2021 launched the first of the six number 5-year medium term plans, the National Development Plan (NDP), 2021-2025, that will be used to implement the LongTerm Plan.

‘‘Council also on March 15, 2023 approved the Nigeria Agenda 2050 that we are launching today,’’ he said.

Commending the National

Steering Committee, led by the Minister of Finance, Budget and National Planning, Zainab Ahmed and the Minister of State, Budget and National Planning, Prince Clem Agba, for delivering yet again, on this important national assignment, the President described the unveiling and public presentation of NA 2050 as another milestone in the ‘‘annals of history of our planning experience, post-independence.’’ He added that this feat has also shown the Administration’s commitment to planning and plan implementation since assumption of office on May 29, 2015.

On the process for the preparation of the Plan, the Minister of Finance stated that it was not only participatory and consultative but inclusive; involving all critical stakeholders such as, all Federal Ministries,

Departments and Agencies (MDAs), 36 states and the Federal Capital Territory as well as the representatives of Local Government Areas (LGAs).

She listed other stakeholders as the Organised Private Sector, youth organisations, labour unions, traditional and religious institutions, major political parties, women organisations, people with special needs, among others.

‘‘The Nigeria Agenda 2050 is formulated against the backdrop of subsisting economic and social challenges facing the country, including low, fragile and non-inclusive growth, insecurity, high population growth rate, limited concentric economic diversification and low productivity.

‘‘The Plan is a long-term economic transformation blueprint designed to address these challenges,’’ she said.

Ahmed also told the President and other FEC members present at the inauguration that with the expected improved capital accumulation, investment as a ratio of GDP is expected to increase from the current 29.40 per cent to 40.11 per cent by 2050.

She explained that under the Plan, the bulk of the investment is expected to be financed by the private sector while total employment is expected to rise to 203.41 million in 2050 from 46.49 million in 2020.

‘‘This implies that unemployment will drop significantly to 6.3 per cent in 2050 from 33.3 per cent in 2020. The corollary is that the number of people in poverty will drop to 2.1 per cent by 2050 from 83 million in 2020,’’ the Finance Minister said.

Alleged N1.8bn fraud: Court strikes out case against Dasuki’s ex-aide, 8 others

By Vivian Okejeme, Abuja

Justice Okon Abang of the Federal High Court Abuja, has struck out the N1.84 billion money laundering charges brought by the Federal Government against Colonel Nicholas Ashinze, a former Military Assistant to Col. Sambo Dasuki (rtd.) and eight others.

The court 13-count charges was strike out following its withdrawal by the Attorney General of the Federation AGF after seven years of trial.

Consequently, Justice Abang discharged the nine defendants from the alleged corruption issue related to the matter.

Although the Judge did not pronounce them acquitted, the Supreme Court of Nigeria had in several judgments held that discharging defendants from criminal charges is tantamount to acquittal from the same charges.

Striking out a case essentially means that the charges against the defendants are dismissed and the case is terminated.

In the instant case where the charges are struck out and the defendants are discharged, they are no longer subject to criminal prosecution for the charges in that particular case.

Justice Abang held that no court of law can question the exercise of AGF’s powers, under Section 174 (1)(b) of the 1999 Constitution (as amended), to take over or terminate any matter before any court of law.

Counsel to the Federal Government, Mr David Kaswe had applied for withdrawal of the charges apparently acting on the instructions of the AGF, Malam Abubakar Malami SAN.

Sources in the Federal Ministry of Justice said that the case file had been reviewed severally and found out that the charges against the defendants cannot be sustained, hence, the decision to terminate it.

Ashinze (1st defendant) was standing trial alongside an Austrian, Wolfgang Reinl; Edidiong Idiong and Sagir Mohammed listed as 2nd to 4th defendants respectively.

Other defendants in the case are five companies: Geonel Integrated Services Limited, Unity Continental Nigeria Limited, Helpline Organisation, Vibrant Resource Limited and Sologic Integrated Service Limited listed as 5th to 9th defendants respectively.

The money was said to have emanated from the Office of the National Security Adviser (ONSA) headed then by Dasuki where Ashinze served as Special Assistant during President Goodluck Jonathan’s administration.

The nine defendants had at the commencement of the trial, pleaded not guilty to all the charges preferred against them.

In the course of the trial, EFCC through its counsel, Mr Ofem Uket had called seven witnesses during the seven years the case lasted in the court.

FG calls for transparency, accountability in mining sector

By Joy Baba-Yesufu

Lack of transparency and accountability in the mining sector has been described as the bane of development and proper safeguards to many mining host communities in Nigeria.

This was made known by the minister of mines and steel development, Olamilekan Adegbite in Abuja at a town hall meeting on ‘promoting fiscal justice and social safeguards in the solid mineral sector’ organized by Global Rights.

The minister, who was represented by the ministry’s director of investment promotion and trade, Mr Imeh Ekrikpo said the issues of transparency has been in the front burner in recent times, in all facet of the economy adding that the ministry is doing all it can within the available resources to conform to the basic tenets of transparency initiatives.

He said “we have done some remarkable reforms in the ministry’s regulation that has given confidence that we are beginning to understand the peculiarity of the environment we operate in and a few changes we have made in our finances in government.

“How we capture government revenues from royalties, from taxes, capacity building that we have undertaken has empowered our officials to begin to do some of those things more transparently. Reporting what is accruable to the government more accurately, we are making giants stride to achieve a lot in these areas”.

In her welcome address, executive director, Global Rights, Abiodun Baiyewu said several reports from different agencies have shown that Nigeria is losing billions of dollars as a result of lack of transparency.

She further said that citizens need to demand accountability from the government to ensure those loopholes are blocked and to ensure everything is put out in there for everyone to see.

Also speaking at the event, executive secretary, Nigeria Extractive Industries Transparency Initiatives (NEITI) Orji Ogbonnaya Orji said social safeguards are policies or tools deployed to prevent and mitigate undue harm to people during mining process.

He also said safeguards helps assess the potential social risks and impacts associated with mine development, defining measures and processes to effectively manage risk and enhance positive impacts.

Orji, who was represented by NEITI director of communication, Obiageli Onuoha said accountability is also a component of fiscal justice making sure that taxes paid to government are used appropriately and prudently.