News
NES#22: Time to Embrace ‘Made in Nigeria’ by Nigerians- Senator Udoma
The Nigerian Economic Summit Group (NESG) has highlighted the need to embrace self- sufficiency as a viable alternative to improve Nigeria’s dwindling economy.
The Group made the call during a press conference organised in Lagos to announce the 22nnd Nigerian Economic Summit. The summit appropriately themed ‘Made in Nigeria’, is scheduled to hold from the 10th to 12th October at the Transcorp Hilton Hotel, Abuja.
Speaking during the conference, on the importance of the Nigerian Economic Summit, Senator Udo Udoma Udo, minister, Budget and National Planning, disclosed that the Nigerian Economic Summit has become the largest and foremost annual convergence for public and private sector policy makers and industry leaders in Nigeria.
Udoma assured that the 22ND Nigerian Economic Summit will encourage more production and consumption of Made in Nigeria goods and services.
“We believe that with more patronage Nigerian producers will be encouraged to improve the quality of their products. As the quality of our goods and services improve, international demand for them will increase. There is no doubt that the fastest route to grow our economy and to create jobs for our teeming population is by pursuing export led growth. Export led growth will add to our foreign reserves and stabilize the Naira”. He added.
Explaining the rationale behind the made in theme “Made in Nigeria”, Mr Jaiyeola Laoye, CEO, Nigerian Economic Summit Group (NESG) described the Made in Nigeria initiative as an economic growth and development strategy for Nigeria’s short, medium and long term development.
Jaiyeola explained that Nigeria’s status as an import dependent and a huge consumption economy has led to negative economic growth, dwindling foreign reserves, and pressure on local currency exchange rate relative to major currencies.
Commenting on the rationale behind the theme ‘Made in Nigeria’, Jaiyeola maintained that the theme is not only necessary and timely, but will also be used to embody the imperative to commit to the structural and fiscal changes required to strengthen the Nigerian economy.
“Past editions of the Nigerian Economic Summit have made recommendations on self-sufficiency in local production and an export-driven economy. With our current economic realities, the NESG realises that this is the perfect opportunity to articulate a national discussion on ‘Made in Nigeria’ to promote the goods and services that are already up to standards for consumption, encourage exports and increase opportunities for SMEs”. He added.
Setting an agenda for the summit, foremost business consultant, financial analyst and columnist Opeyemi Agbaje, CEO, RTC Advisory Services Limited, commended the choice of this year’s theme, describing it as a step in the right direction, as long as the sentiments are objectively articulated.
Opeyemi observed that the country still needs to work on getting its policies right “For me, we still have to get our policies right, for example there should be discussions about attracting investors, which I would love to see addressed at the summit, secondly the foreign exchange conundrum needs to be fine-tuned.”
“We have spoken extensively on oil dependence, but I say that, Nigeria’s economy is diversified, since the contribution of the oil sector is reducing drastically as we have seen non-oil sector make significant contributions to the country’s GDP.
“However, Made in Nigeria for me means a very strong domestic non-oil sector, which comprises agriculture, manufacturing, tourism, education and other industries in Nigeria, exporting to the world. So in the end, we don’t just stop import, but we ensure to sell our made in Nigeria product, services and ideas to the world”, he added.
The 2016 Nigerian Economic Summit, NES #22 will provide a platform to sharpen the focus on the need for Nigeria to embrace the Made in Nigeria initiative by working out strategies to achieve self-sufficiency and value-addition capacities for several products and services in the shortest possible time.
NES #22 will also facilitate stakeholders’ discussions/agreements on the practical issues, opportunities, policies and regulations needed for ‘Made in Nigeria’ to become an economic growth and development agenda.
The NESG was established and incorporated as a non profit, non partisan private sector organization with a mandate to promote and champion the reform of the Nigerian economy into an open, private sector-led globally competitive economy.
Over the years, it has emerged as the most important platform for public-private dialogue in Nigeria.
During this period, the organization has accomplished a great deal in terms of research outputs and implementation of programmes, seminars, conferences and workshops aimed at facilitating the formulation and implementation of social and economic reform programmes for the growth and transformation of the Nigerian economy.
National Population Commission (NPC) has commenced the nationwide digital registration of births and deaths under the Electronic Civil Registration and Vital Statistics (E-CRVS) system to strengthen legal identity management and improve demographic data.
Speaking at a press briefing in Lokoja on Tuesday, Mr Afolabi Yori, federal commissioner representing Kogi, said the initiative became operational nationwide on July 1, through the VitalReg platform.
Yori described the development as a landmark in Nigeria’s civil registration system, noting that it would modernise birth and death registration through a technology-driven platform that meets international standards.
He said the digital platform would improve service delivery, strengthen data integrity and ensure that every birth and death occurring in Nigeria was accurately documented and securely stored.
According to him, civil registration is more than an administrative process, as it provides reliable statistics that support public policy formulation, resource allocation and national development planning.
“Nigeria records an estimated five million births annually, yet millions of births and deaths remain unregistered.
“Birth registration coverage currently stands at about 57 per cent nationwide, while death registration remains below 20 per cent,” he said.
The commissioner said that the commission had established 4,011 functional registration centres across the country’s 774 local government areas and was working to expand the number to about 8,000.
He added that the commission was strengthening collaboration with stakeholders to improve the capacity of registration personnel and ensure prompt documentation of vital events through the VitalReg platform.
Yori said the platform would provide faster registration services, 24-hour online access, digital certificate issuance where applicable, and reduce paperwork, waiting time and unnecessary travel.
He disclosed that the platform was being operated under a Public-Private Partnership with Barnks-forte Technologies Ltd. as the commission’s technical partner to ensure system availability, cybersecurity and continuous technological improvement.
He called on parents, healthcare institutions, traditional and religious leaders, civil society organisations, development partners and the media to support the initiative by encouraging the prompt registration of births and deaths.
Earlier, Samuel Omonakpeme, director in Kogi, NPC State, described the commencement of the digital registration system as another milestone in efforts to strengthen Nigeria’s Civil Registration and Vital Statistics system.
Omonakpeme stated that the initiative aligns with the Federal Government’s digital transformation agenda and the Sustainable Development Goals, particularly Goal 16.9, which seeks to provide legal identity for all.
He appreciated the Federal Government, the leadership of the commission, UNICEF and other development partners for supporting the implementation of the initiative.
The state director also urged parents, guardians, health institutions, community leaders, religious organisations and the media to mobilise public support for the timely registration of all births and deaths.
The News Agency of Nigeria (NAN) reported that ICT personnel of the commission, led by Ehimoni Kolawole, conducted a live demonstration of the digital birth registration process using the VitalReg platform.
The demonstration showed that the registration process captures the biodata of both parents, while at least one parent must possess a valid National Identification Number (NIN) to complete the registration of a newborn.
Yola Electricity Distribution Company (YEDC) has alerted its customers to a fraudulent message circulating on social media, falsely claiming that electricity consumers can receive an additional 20 per cent bonus units when recharging their prepaid meters through unofficial channels.
In a statement issued by the company’s management on Monday, YEDC described the claim as false and urged customers to disregard the misleading information, stressing that it did not originate from the company.
According to the statement, YEDC does not offer bonus electricity units through individuals, agents, personal bank accounts, phone numbers, or social media contacts.
The company advised customers to purchase electricity tokens only through approved cashless payment platforms, including the YEDC Pay App, OPay, Interswitch, and other authorised vending channels, or to visit the nearest YEDC office for assistance.
YEDC also cautioned customers against sharing their meter details or personal information, or making payments to unauthorised persons claiming to represent the company.
The company further urged customers to rely exclusively on information disseminated through its official communication channels to avoid falling victim to fraud.
The management thanked customers for their continued cooperation and reaffirmed its commitment to serving them.
Central Bank of Nigeria (CBN) has disclosed that two foreign currency accounts opened in connection with the controversial Presidential Foreign Investment Promotion Council (PFIPC) have remained inactive since their creation, with no funds deposited and no transactions recorded.
The revelation emerged on Monday during the ongoing investigation by the House of Representatives Ad-hoc Committee probing the circumstances surrounding the establishment and operations of the council.
Lawmakers are investigating allegations that the PFIPC was created and operated without a valid legal framework and outside the established procedures required for government agencies and institutions.
Appearing before the committee, representatives of both the Central Bank of Nigeria and the Office of the Head of the Civil Service of the Federation (OHCSF) distanced their institutions from the establishment of the council.
The Office of the Head of the Civil Service of the Federation stated that it neither created the council nor possessed the constitutional authority to establish federal agencies.
Representing the office, officials explained that the OHCSF is only responsible for approving administrative structures of government agencies after all necessary requirements have been fulfilled.
According to the office, records showed that the council submitted a request on August 6, 2025, seeking approval for its organisational structure.
However, the application was not approved because the required supporting documents were not attached.
The committee heard that despite the rejection of the request, officials linked to the Presidential Economic Advisory Council (PEAC)/PFIPC later appeared during the 2025 manpower budget defence exercise and sought approval for staffing and recruitment arrangements.
The office disclosed that the council informed government officials that its activities were being carried out largely through personnel seconded or deployed from other institutions.
Lawmakers were told that the council requested approval for a total of 314 positions. The figure consisted of 14 existing officers and an additional 300 proposed positions.
The Office of the Head of the Civil Service further revealed that concerns later arose regarding documents presented by the council as evidence of its legal backing.
Officials told the committee that upon examination, the documents failed to display essential features expected of an enabling law or valid legal instrument establishing a government body.
Mrs. Didi Esther Walson-Jack, head of the Civil Service of the Federation, also rejected claims that her office deployed civil servants to work for the council.
She maintained that the office did not assign personnel to the body and did not provide office accommodation for its operations.
According to her, matters relating to the creation, supervision and oversight of government agencies fall under the responsibilities of other relevant institutions, including the Office of the Secretary to the Government of the Federation.
The Central Bank of Nigeria also provided details regarding accounts linked to the council.Nigerian current events
Hamisu Abdullahi, director at the apex bank, who represented the CBN Governor before the committee, explained that the bank opened two foreign currency accounts following a formal request from the Office of the Accountant-General of the Federation.
He told lawmakers that the request was received on July 30, 2025, and instructed the bank to create a United States dollar domiciliary account and a Pound Sterling domiciliary account.
Abdullahi stressed that the CBN only opens accounts for government agencies after receiving official authorisation from the Accountant-General’s office.
However, he disclosed that the accounts never became operational because the council failed to provide authorised signatories required for activation.
As a result, both accounts remained dormant from the day they were opened.
He informed the committee that neither account had received deposits nor processed withdrawals. The accounts also recorded no foreign exchange allocations, remittances, inflows or outflows.Governor election news
According to him, the balances in both accounts remain at zero.
The CBN official further stated that the council did not engage directly with the apex bank regarding the management or operation of the accounts after they were created.
Following the submissions, members of the committee demanded more information as part of efforts to determine the full scope of the council’s activities.
Hon. Abdulmalik Danga, chairman of the committee, directed the Central Bank to submit comprehensive records relating to both the Presidential Foreign Investment Promotion Council and the Presidential Economic Advisory Council.
The committee requested details covering the opening of the accounts, their operational history and any information connected to related banking activities.
Lawmakers also instructed the CBN to work with commercial banks to identify and provide records of any accounts linked to the entities under investigation.
However, the committee is expected to continue its hearings as more government agencies and officials appear before lawmakers to provide explanations on the controversial council and the circumstances surrounding its operations.
NPC Opens Nationwide Digital Birth, Death Registration Platform
FG Launches C.L.I.C.K.D., Consumer Credit Scheme for Tech Devices
Airtel Nigeria Expands Retail Footprint to Strengthen Customer Access Nationwide
Ovaloop Technologies Unveils Digital Tools to Formalize SMEs Operations Across Africa
Kaspersky Survey Highlights the Need for Smartphone Security
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Tokenization, Blockchain Technology will Transform Financial Institutions – IMF
News3 days agoAdebutu, PDP Chieftain Accuses Nigerian Governors of Embezzling LG Allocations
E-Financial3 days agoAccess Holdings Sells 7.44% Stake in Ghana Unit
E-Financial3 days agoNDIC Urges Youths to Shun Ponzi Schemes, Embrace Savings
News3 days agoNIMASA Unveils Accelerator Scheme to Drive Innovation, Sustainable Growth
E-Business3 days agoSERAP to Sue NASS over Bill Empowering NDPC to Regulate Social Media
E-Financial3 days agoNRS Issues July 31 Deadline for e-Invoicing Compliance
News3 days agoICPC Secures Final Forfeiture of N941m Linked to IPPIS Fraud
News3 days agoeBusinessLife Advocates Greater Support for Girls in ICT as Students Showcase AI Innovations