Featured

Nigeria At The Risk Of Economic Recession In 2020 –Governor Yari

Published

6 years ago

April 30, 2019

Nigeria At The Risk Of Economic Recession In 2020 –Governor Yari

Chairman of the Nigeria Governors’ Forum (NGF) Abdulaziz Yari has said Nigeria risked another round of recession between 2020/2021.

To this end, he said the newly elected governors should brace up for the challenges to be posed by such development.

Yari, who is also the Zamfara state governor, said this Monday at the opening ceremony of induction of new and returning governors, organized by the NGF Secretariat in Abuja.

He said due to the drop in the price of crude oil from 114 to 75 dollar per barrel in the mid of 2014, it became very difficult for many states to even pay salaries.

“This scenario is a wake-up call for all of you to come amply prepared to face these kinds of challenges, especially since we are expecting the possibility of another cycle of recession by the mid-2020.

“This may last up to the third quarter of 2021. Your good spirit of stewardship will make you contain the situation should there be one.

“Also, as members of the National Economic Council, you must work hand in hand to boost the economy in tandem with the global best practices,’’ the governor said.

He commended President Muhammadu Buhari for his numerous interventions that saved the states from debilitating economic challenges, as well as the exit of the nation’s economy from recession.

He said at a point, 27 states were experiencing difficulty in settling their workers’ monthly salaries, development of infrastructure and effective service delivery.

“Mr. President’s intervention through bailouts from the capital market through the Central Bank of Nigeria, infrastructure development funds, anchor borrowers’ programme, budget support, London and Paris Clubs refunds have significantly saved the situation,’’ he said.

Yari, however, said states needed to work harder to boost their Internally Generated Revenue (IGR) and enable them execute more projects and reduce over-dependence on the federation account.

He also advised governors to look inward by boosting their revenue generation and also utilise the accruing revenue to execute projects that would touch the lives of the ordinary people.

“You must not forget the high expectations of our people on us; now that the democracy is maturing day in day out, the challenges of governance and service delivery are more demanding.’’

The NGF chairman lauded the current administration’s focus on agriculture, including anchor borrowers’ programme through which about N200 billion had been expended.

But the sum, the governor said, was inadequate if Nigeria must satisfactorily tackle the issue of insecurity in the country.

He said Nigeria needed to go to the next level by slamming high import tariff on other agricultural products, particularly maize and wheat in order to boost their production and provide raw materials for local industries.

Share on Facebook

Featured

Nigeria’s Historic Bid for the 2030 Commonwealth Games: A Call for National and Global Support

Published

5 days ago

September 30, 2025

The Gleamer

Joel Ajayi

Nigeria is poised to make history as it seeks to host the Centenary Commonwealth Games in 2030, a monumental opportunity that promises to transform the nation’s economy, infrastructure, and global standing.

More than a sporting spectacle, the Games would serve as a catalyst for development across multiple sectors, leaving behind a legacy of national pride and sustainable growth.

The benefits of hosting the Games extend far beyond the sports arena. Nigeria stands to gain both empirical and non-empirical advantages, with direct, indirect, and induced impacts that will touch every corner of society. Infrastructural development will take center stage, with new facilities such as indoor sports halls, conference centers, and improved road networks reshaping urban landscapes while strengthening the nation’s capacity to host future international events.

Economic growth is another significant dividend. Over 10,000 jobs are expected to be created, spanning construction, facility management, event planning, and tourism services.

The hospitality industry will undergo major improvements as hotels and resorts are upgraded to meet international standards, while local restaurants, lounges, and tourist attractions will see a surge in patronage from international visitors. Small and medium enterprises, particularly in the transport, finance, and food service sectors, will become some of the greatest beneficiaries, as the Games generate new demand and expand opportunities for local businesses.
The Commonwealth Games will also accelerate the growth of Nigeria’s sports industry.

Investments in training facilities, coaching, and talent development will inspire a new generation of athletes, ensuring long-term benefits that extend beyond 2030, a major focus of the President Bola Tinubu administration.
At the same time, the process of preparing for the Games will create opportunities for Nigerians to learn new crafts, acquire technical skills, and engage in global-standard event management, thereby strengthening human capacity and innovation across industries.

Mallam Shehu Dikko, Chairman of the Nigeria Sports Commission, and Hon. Bukola Olopade, the Director General, have been widely recognized for their tireless and visionary leadership in repositioning Nigeria’s sporting sector.

Their commitment to facilitating infrastructural development and strengthening grassroots sports development has laid the foundation for Nigeria’s bold bid to host the 2030 Commonwealth Games. Under their leadership, the NSC is fostering strategic partnerships and driving innovation in sports administration, they have demonstrated the nation’s readiness to stage an event of such global magnitude.

Beyond the tangible gains, the hosting of the 2030 Commonwealth Games carries profound symbolic value. It would be a moment of unity and pride, a chance for Nigeria to showcase its cultural richness, resilience, and excellence to the world.
As a centenary edition, the Games would stand as a historic milestone not just for the Commonwealth but for Nigeria itself, cementing its place on the global stage as a capable, ambitious, and forward-looking nation.

The gains from hosting the Commonwealth Games can never be undermined or overemphasized. This is Nigeria’s time to step forward and show the world our resilience, and excellence. We call on every Nigerian, across sectors and communities, to support this noble aspiration.

Nigeria’s pursuit of the 2030 Commonwealth Games is a vision for transformation, a blueprint for national development, and a legacy project that will inspire generations to come.

Share on Facebook