Business
Industry Minister Leads Agencies at Abuja Investment Summit & Expo 2023, Upholds President Tinubu’s Renewed Hope of Nigeria’s Industrial Growth
Joel Ajayi
As the first Abuja Investment Summit and Expo 2023 gets underway, from Tuesday 14th to Wednesday 15th November 2023 at the Velodrome, Package ‘A’, M.K.O. Abiola National Stadium – Abuja, the Minister of Industry, Trade and Investment Dr. Doris Uzoka-Anite is leading Federal Ministries, Departments Agencies, and in particular, Agencies under her purview at the Summit to brainstorm on the critical industry, trade and investment matters for the economic growth and development of Abuja, the Federal Capital Territory, and Nigeria as a whole.
In a statement signed by the Director, Communications Ahmed Mohammed Sule, MNIPR, MITPN in Abuja on Tuesday
With the theme Unlocking Investment Opportunities in Abuja, the Federal Capital Territory, the Minister, as the focal point of President Bola Ahmed Tinubu’s Renewed Hope Agenda in the industrial, trade, and business growth of the national economy, will be the Guest Speaker on Key thematic topic, with panel members drawn from Agencies under her watch and experts from the private sector discuss on the various sub-themes of the Summit and Expo.
Critical thematic areas of focus at the Summit include; Opportunities for Business Growth and Sustainable Development in Nigeria; Light Manufacturing and Industrialization – Critical to Industrial Evolution in the Federal Capital Territory, Abuja; Public Private Partnership in Infrastructural Development and Economic Growth of the Federal Capital Territory, Abuja and Accessing Global Investment Opportunities among others.
The Abuja Investment Summit and Expo are public–private sector is driven, and it is a collaboration between the Abuja Chamber of Commerce and Industry, the Economic Planning Revenue Generation and Public Private Partnership Secretariat, and the Abuja Investment Company Limited, all of the Federal Capital Territory Administration, while TDF Consultants Ltd are coordinating Consortium for the Annual event.
Organizers cited Abuja as one of the fastest growing cities in Africa and is continuously recording massive inflow of people from all walks of life, but has not been able to explore its economic potential to overcome the developmental challenges in its efforts to meet the numerous needs of the inhabitants, noting that the Abuja Investment Summit and Expo therefore, is an avenue that offers both local and foreign investors the window to leverage on the vast business and investment potentials that abound within the territory for accelerated economic growth and development of the city.
Created to be the largest international gathering, bringing together over 1,500 business leaders, high-level investors, top notch-policy makers in Nigeria, Africa, and around the World, the Abuja Investment Summit and Expo is an all-inclusive interactive discourse event aimed at stimulating deals and transactions across the untapped investment opportunities in the Federal Capital Territory with the collaborative participation and involvements of relevant Ministries, Departments and Agencies on the one hand, and Trade Groups, Associations and the Chambers of Commerce on the other.
The Minister of Industry, Trade, and Investments who will be leading a number of parastatals in the Summit-Discourse centered on Business Growth and Sustainable Development having the Nigerian Investment Promotion Council as discussants; Light Manufacturing and Industrialization will see the Bank of Industry leading panel members shed more lights. Others are the topic of Free Trade Zones which will see the Nigeria Export Processing Zones Authority present the Lead Paper, and discuss the importance of Skills Development in industry service delivery, the Industrial Training Fund leading panelists on the discussion podium.
The Abuja Investment Summit and Expo 2023 is coming on the heels of and in line with the Renewed Hope Agenda of President Asiwaju Bola Ahmed Tinubu, which seeks to breath fresh hope and lasting life in all developmental sectors of the country that will place it on a high pedestal of socio-economic growth for a purposeful and positive dynamic impact on the lives of the people through the institutionalization of a resilient and sustainable economic base that will benefit the present and future generations of our dear country, Nigeria.
Business
Democracy Day: Fiscal Discipline Key To Nigeria’s Sustainable Devt – Auditor-General
…Urges National Assembly to Pass Audit Bill 2022
Joseph Bisi
As Nigerians commemorated a historic milestone in their collective pursuit of a more socio-economically robust nation, the Auditor-General for the Federation (AuGF), Shaakaa Kanyitor Chira, has implored the nation’s leaders and citizenry to intensify their efforts in championing the cause of fiscal discipline and accountability within the public finance system. In a brief conversation with journalists to mark the 2025 ‘Democracy Day’ on Thursday, the AuGF commended President Bola Tinubu’s administration for its ongoing fiscal and tax reform initiatives, describing these measures as essential for enhancing the nation’s revenue generation and budgetary expenditures. Chira explained that transforming the potential benefits of these reforms into tangible gains for the citizenry required more transparent fiscal mechanisms for the monitoring and evaluation of government expenditures, including the auditing processes and the timely appraisal of the Audit report by his Office, free from political interferences. He said: “Today’s Democracy Day is worthy of celebration, given the political history of the country and the prospects for sustainable development. Over the past few years, we have witnessed a series of reform initiatives by both past and present administrations aimed at improving the nation’s fiscal system, particularly under President Bola Tinubu, based on the current Tax Reforms and Fiscal Policy Bills that are being finalized by the National Assembly. “Let me emphasize that these measures are not merely desirable for Nigeria’s sustainable development; the enactment of the four pivotal bills will significantly contribute to stabilizing the financial system while also promoting transparency in public finance and prudent governance at all levels of government throughout the country. “It is imperative to underscore, however, that the role of the Office of the Auditor-General of the Federation (OAuGF) in achieving these laudable objectives may be impeded if the Audit Bill currently before the National Assembly is not enacted into law. “The passage of the Bill, which seeks to augment the AuGF’s role in ensuring accountability, transparency and value for money in government expenditure while empowering the AuGF with administrative and financial autonomy, is crucial for enhancing transparency and accountability within Nigeria’s public finance system that aligns with International Standards of Supreme Audit Institutions (ISSAIs). “Therefore, I seize this opportunity to appeal to our lawmakers in the National Assembly to prioritize the passage of the Audit Bill as a strategic legislative initiative to achieve the commendable goals of the Tax Reforms and Fiscal Policy Bills they are presently finalizing,” the AuGF added.Experts are of the view that the Auditor-General’s call for the passage of the Audit Bill 2022 aligns with the OAuGF Strategic Plan 2024-2028, which encapsulates the objectives of the Office being the Supreme Audit Institution(SAI) of Nigeria, aimed at enhancing public sector governance and accountability. The four principal objectives of the Strategic Plan include Goal 1: Focusing on the enhanced independence and mandate of the OAuGF; Goal 2: to mitigate mismanagement of public funds through more robust follow-up on audit recommendations; Goal 3: to ensure improved financial reporting within the public sector; and Goal 4: to establish the OAuGF as a model institution not only in Nigeria but on a global scale.
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