• N’Assembly positioning Nigeria for $1tr economy by 2030, says Bamidele
• N50b intervention fund disbursed to 894 MSMEs
The Federal Government has stated that the N54.2 trillion budget for the 2025 fiscal year was a testament to President Bola Tinubu administration’s commitment to economic growth, national security, infrastructure development and human capital advancement.
Also, Senate Leader, Opeyemi Bamidele (APC, Ekiti Central), while reeling out the accomplishments of the 10th National Assembly, said the upper chamber had been passing diverse laws aimed at creating an environment for economic competitiveness and positioning Nigeria for the targeted $1 trillion economy by 2030.
Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, while giving account of her 100 days in office, disclosed that N50 billion intervention fund was disbursed through the Bank of Industry (BOI) to 894 Micro, Small and Medium Enterprises (MSMEs) within one year to strengthen the economy.
Minister of Information and National Orientation, Mohammed Idris, spoke on the budget, yesterday at the third ministerial briefing addressed by Oduwole.
Idris assured Nigerians that the fiscal year would witness tangible fruits of transformative reforms initiated by Tinubu in the lives of Nigerians. He stated:”Already, we are witnessing a gradual reduction in the prices of foodstuff, which is bringing much-needed relief to the people.
“The 2025 budget is not just a financial document; it is a bold statement of intent, a roadmap for economic resilience, social stability and national progress. The budget has demonstrated a renewed focus on security, infrastructure, education, health, solid minerals, agriculture and other key areas that have direct impact on the well-being and socio-economic development of the country.”
Describing its role as vital to deepening democratic culture by ensuring that the people are informed, engaged and empowered to participate actively in the governance process, the minister tasked the media on balanced and development-focused reports.
“Democracy is not an end in itself, but a means to promote freedom, liberty and the socio-economic development of our nation. It thrives on informed discourse, constructive engagement and a shared commitment to national progress.
“As we continue on this journey of the Renewed Hope Agenda driven by the visionary leadership of Tinubu, I urge the media to uphold the highest standards of accuracy, responsibility and professionalism. In an era where misinformation and sensationalism can easily distort public perception, your commitment to truth and fairness is more important than ever. We must work together to ensure that the narratives shaping public discourse reflect the realities of governance, devoid of bias or undue sensationalism,” he added.
In her presentation, Oduwole said during the period under review, Sesame export increased to 120,745 metric tonnes, soya bean 21,000 metric tonnes, nut 72,000 metric tonnes and cocoa 113,000 metric tonnes. According to the minister, while the Special Economic Zones (SEZs) export rose to $10 million.
For the Minister of State, John Enoh, who accompanied Oduwole, the inauguration of the Industrial Revolution Work Group (IRWG) marked a significant milestone in the country’s industrial sector.
BAMIDELE added that many of the legislative initiatives were already making a difference in the daily lives of the citizenry and collective prosperity of the country.
He made the remarks, yesterday, at a meeting with the delegation of the United Kingdom Parliament held at the Conference Room, New Senate Wing, National Assembly Complex, Abuja.
Led by MP Kate Osamor of Edmonton and Winchmore Hill, the delegation comprises a member of the MP for Dumfriesshire, Clydesdale & Tweeddale, David Mundell; MP for Westminster North, Karen Buck; member of the House of Lords, Jonathan Oates; MP for Worthing West, Dr Beccy Cooper and MP for Plymouth Moor View, Fred Thomas.
At the session with members of the UK Parliament, Bamidele explained that the National Assembly would continue to play pivotal roles in building a resilient economy and functional political system, which guarantees the security of the citizenry.
He said: “Since the birth of the 10th Senate about two years ago, I have been discharging the duties of my office with modest records of accomplishment. One of such accomplishments is the timely passage of key legislations, particularly in the areas of fiscal reform and national security
“By engaging my colleagues across all political divides, we have successfully passed laws aimed at creating an environment for economic competitiveness and positioning Nigeria for a $1 trillion economy by 2030. I am proud to say that many of these legislative initiatives are already making a difference in the daily lives of our citizens.”
In her presentation, Osamor solicited for inclusion of more women in the National Assembly to address the existing gender gap in the nation’s electoral offices.
Osamor said: “We have to make sure more women are in the parliament. Every society is a reflection of elected representatives.” On gender sensitivity, the Senate Leader promised the delegation that the 10th Senate would prioritise the issue, recalling that the 9th Senate was almost resolving the issue before it ended in June 2023.
