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FG targets 0.6% poverty rate, 6.3% unemployment rate

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The Federal Government says it will reduce the poverty rate to 0.6 per cent and the unemployment rate to 6.3 per cent by 2030 and 2050.

The Minister of Budget and Economic Planning, Sen. Atiku Bagudu, said this at a news briefing for the 29th Nigerian Economic Summit (#NES29) in Abuja on Thursday.

The theme of the #NES29 scheduled for October 23 to October 24 at the Transcorp Hilton, Abuja, is “Pathways to Sustainable Economic Transformation and Inclusion”.

Bagudu said the theme was chosen to discuss the imperatives for transforming the nation’s economy while ensuring inclusivity.

He said that the discussions around the theme would be on five sub-themes, namely, stimulating economic growth and mobilizing finance for sustainable development.

They also include harnessing human capital development, promoting national cohesion inclusion and reforming public institutions, among others.

Bagudu said the sub-themes would address relevant pillars in the National Development Plan (NDP) 2021-2025, the Nigeria Agenda 2050 and the Renewed Hope Agenda.

“The main target of the Nigeria Agenda 2050 is to increase the country’s per capita GDP to 6,000 dollars and 33,000 dollars by 2030 and 2050, respectively.

“It will also bring the poverty rate to 0.6 per cent and unemployment rate to 6.3 per cent while transiting the economy to the highest per capita GDP in the group of upper-middle-income economies.

‘The plan will be effectively implemented by successive governments through six number 5-Year Medium-Term National Development Plans and Annual Budgets,” he said.

The minister said the Renewed Hope agenda and eight priority areas of the current administration were aimed at fast-tracking the goals of the Nigeria Agenda 2050.

“The ministry is in the process of conducting the mid-term review of the NDP 2021-2025 with the purpose of fine-tuning the plan and ensuring that the renewed hope agenda of the current government is incorporated into the NDP 2021-2025.

The Ministry will welcome innovative ideas from the stakeholders at the summit to ensure its effective integration into the NDP 2021-2025,” Bagudu said.

He said that the summit’s success would depend on the active and deliberate participation of all critical stakeholders.

The stakeholders, according to him, include the federal government, sub-national government, private sector operators, civil society organisations, the media and development partners.

The minister commended the contributions and commitments of the various corporate organisations and government institutions towards successfully hosting the summit.

NES is organized annually by the Federal Ministry of Budget and Economic Planning and the Nigerian Economic Summit Group (NESG).

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Nnamdi Kanu seeks negotiation with FG over trial

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Nnamdi Kalu
– Nnamdi Kanu seeks negotiation with FG over ongoing trial
– Kanu’s lawyer moves two applications before the Federal High Court
– FG’s counsel says defendant should approach Attorney General for negotiation

Nnamdi Kanu, leader of the Indigenous People of Biafra (IPOB), has expressed willingness to negotiate with the Federal Government over his ongoing trial.

Through his counsel, Alloy Ejimakor, Kanu informed the Federal High Court in Abuja of his intention to seek negotiation under Section 17 of the Federal High Court Act.

Ejimakor had earlier moved two applications before the court, including one objecting to the jurisdiction of the court. If the applications are denied, Kanu’s lawyer plans to invoke Section 17, which promotes reconciliation and amicable settlement among parties.

Meanwhile, the Federal Government’s counsel, Adegboyega Awomolo, stated that the defendant should approach the Attorney General of the Federation for negotiation.

Justice Binta Nyako, the presiding judge, clarified that the court’s role is to hear cases, not to solicit negotiations. Kanu has been in DSS custody since June 2021, facing terrorism-related charges levelled against him by the government.

His lawyer’s latest move may signal a potential shift in the case’s trajectory.

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30,000 Students to Benefit from FG’s Interest-Free Loan Scheme

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– Over 30,000 students selected for federal government’s student loan scheme
– Scheme aims to support underprivileged students in pursuing higher education
– Loan is interest-free and does not require a “godfather”

The federal government’s student loan scheme has selected over 30,000 students to benefit from the initiative.

This was announced by Senate President Godswill Akpabio during a visit to the Nigeria Institute of Legislative and Democratic Studies in Abuja.

Akpabio praised the student loan bill, signed into law by President Bola Tinubu, for enabling vulnerable Nigerian students to access higher education without financial burdens.

He expressed his personal admiration for the bill, stating it is one of the most important bills passed by the 10th National Assembly.

The Nigerian Education Loan Fund (NELFUND) has assured the public that every eligible Nigerian student will benefit from the interest-free loan program.

Thee application process will be open, fair, and transparent, without requiring a “godfather,” according to Dr. Fred Femi Akinfala, NELFUND’s Executive Director of Finance and Administration.

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