Featured
EET Presents Emergency Plan For Economic Stability To President Bola Ahmed Tinubu
Joel Ajayi
The Economic Management Team’s Emergency Taskforce (EET), established to formulate an immediate action plan required to restore stability, growth, and confidence, in the nation’s economy has developed a comprehensive plan to restore economic stability.
The EET, following its mandate, has identified five key sectors – agriculture, energy, support to businesses, health and social welfare, and macro-fiscal alignment – and proposed necessary interventions to achieve urgent economic stability.
The team comprised participants from the federal government, state governments, and advocacy groups such as the Manufacturing Association of Nigeria and the Nigeria Economic Summit Group to ensure a collaborative approach.
The proposed emergency package, the Accelerated Stabilisation, and Actualisation Plan, has been presented to President Bola Ahmed Tinubu at the Presidential Villa, State House, and Abuja by the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun.
During the presentation, the Minister informed that the plan aims to alleviate the impact of price increases on families, farmers, and businesses, in line with the Renewed Hope priorities.
The EET has proposed an emergency package to Mr. President and the Presidential Economic Coordination Council – The Accelerated Stabilisation and Actualisation Plan – which will provide an accelerated response originated from the aforementioned committees.
The Minister informed further that the Plan, in addition to Executive Orders being developed by the Presidential Committee on Fiscal Policy and Tax Reforms to stem inflation, support employment, and promote non-oil exports will bolster the impact of the stabilization plan.
He expressed confidence that the plan developed by the EET will help restore economic stability, promote growth, and improve the overall well-being of Nigerians.
Featured
How Prof. Nnanyelugo Ike-Muonso Repositioning the Raw Materials Sector For Economic Diversification
By Joel Ajayi
As we embark on a journey, we always pray for an able, experienced, and courageous driver, pilot, or sailor depending on the means of transportation.
This is because the captain will have enough experience and boldness to navigate out of turbulence and to bring all the passengers and crew to the intended destination.
Interestingly, these fine qualities of ability, experience, boldness, and many more, abound in the man, Prof. Nnanyelugo Martins Ike-Muonso, who we all are pleased was appointed the Raw Materials Research and Development Council, RMRDC, the Director General/CEO by President Bola Ahmed Tinubu a few months ago.
This is because he has brought his knowledge, ability, experience, and doggedness to bear in carrying out his assignment in charge of the Council.
The RMRDC, operating under the Federal
The Ministry of Innovation, Science, and Technology, is pivotal in driving Nigeria’s industrial growth by optimizing local raw materials exploitation, development, and utilization. RMRDC, ab initio, was conceived as a child of necessity when Nigeria was reeling from the throes of global recession and plummeting crude oil prices.
Without an iota of doubt, today, the council is experiencing a transformation with massive innovation in raw material exploitation, development, and utilization, supporting business and industrial growth, and contributing to Nigeria’s economic prosperity.
Speaking this during a press briefing on Tuesday, in Abuja to commemorate his 100 days in office said the council is laying a solid foundation through numerous innovations that will further enhance growth in the country.
According to him, in the past 100 days, my strategic pursuits have been to lay solid foundations for enduring success in these goals.
“Upon assuming this position, I set five crucial deliverables which include, refocusing the Council as a premier research institution; Strengthening the Council’s productivity and operational efficiency; Significantly improving the staff welfare to be the best in the class of similar organizations;
“Others include, Boosting the Council’s visibility and instituting remarkable culture change that encourages ownership and productivity as well as Strengthening and deepening the Council’s place in the international arena.”
While speaking on his Achievements so far, the DG revealed: “My first task, therefore, was to implement a strategic goal-setting for the Council’s staff to define and set out clear objectives and targets to be achieved by the Council within a specified period towards refocusing on this historical mandate. We unleashed five significant initiatives in that regard.
“The nationwide raw material data collection exercise that focused on technical and investment information. erships to drive our mission forward.
“The restructuring and renaming of the former Technology Innovation Complex (TIC) at the Obasanjo Space Center at Airport Road, Abuja, to a Research and Demonstration Plants Complex (RDPC). This complex will be Africa’s first center of excellence in raw material research, featuring state-of-the-art laboratories, technology development workshops, and proof of concept demonstrations.
“We have reactivated the Council’s Journal and repositioned it internationally. The repositioned Journal of Raw Material Research [JORMAR] will host RMRDC’s researchers’ publications, which are crucial in promoting awareness, facilitating knowledge sharing, and informing stakeholders about the opportunities and challenges in Nigeria’s raw materials sector.
“The collaboration with universities and academies will strengthen our capacity for conducting market-guided research, ensuring sustained workforce training while deepening our orientation in science.
The council has reformulated a new template for all our research proposals to ensure and sustain a clear departure from the old culture of blue-sky and deliberately endless research.
Speaking further, Prof Nwanyelugo Martins Ike-Muonso stated that Staff welfare remains a top priority as an issue of unpaid salaries is settled as well as set up a comprehensive welfare program.
“Similarly, we established the RMRDC Training School to sustainably build our staff and stakeholders’ capacity to further the staff welfare improvement goal.
“We are committed to openness, inclusiveness, and performance management and have initiated steps to continuously improve staff ownership, orchestrate transformative culture change, boost our corporate visibility, and enhance
“To further strengthen our visibility and communication strategies, we are upgrading our media infrastructure, which includes the launch of the RMRDC online media platform, The RMRDC TV Online.
“We are committed to openness, inclusiveness, and performance management and have initiated steps to continuously improve staff ownership, orchestrate transformative culture change, boost our corporate visibility, and enhance
“Additionally, we are working hard to effectively enhance the intellectual property and patent portfolio of RMRDC from its current 40 to approximately 200 new patents within the next 24 months. This proactive approach secures valuable IP assets and positions the Council as a leader in innovation within the raw materials sector, contributing to Nigeria’s overall economic growth.
“As well as launching an e-registration and certification portal to enhance transparency in the raw materials sector,” DG revealed.
He however reaffirmed his commitment to reshape the future of research, technology, and innovation, driving Nigeria towards an industrially vibrant and technologically resilient economy.
“As I mark 100 days in office, I boldly say that the Council is on the verge of rewriting its history.
“I believe that in no distant future, RMRDC will play a leading role in enhancing raw materials’ development to boost raw materials’ industrial trial processing and attain sustainable industrial growth in Nigeria.
DG, however, applauded the Minister of Innovation, Science, and Technology, Chief Uche Geoffrey Nnaji, for his unwavering support and mentorship, saying the Minister’s leadership has been instrumental in the progress made so far.
In his opening remarks, the Directorate of Corporate Affairs, Mr Chucks Ngaha commended the hard-working DG who has weathered the storm further to put the Council on the ladder of more prosperity.
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