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Senate to work towards reducing Nigeria’s borrowing — Lawan

The President of the Senate, Ahmad Lawan, has said that the upper chamber will work with revenue generating agencies towards reducing the level of the nation’s borrowing.
Lawan said this on Wednesday in Abuja, at an event to mark his 63rd birthday.
He said that the senate would support and supervise the agencies and keep them on their toes “for us to have more revenues in order to reduce the level of borrowing.”
“The upper chamber in the first-quarter of this year will focus on addressing the challenges of revenue generation, collection and remittance to shore up earnings by the Federal Government.
“An improvement to the country’s revenue figures will reduce Nigeria’s dependence on external borrowings for the execution of capital projects captured in the national budget.
“We still have a huge responsibility, and in fact, it is something that we wanted to do last year, but because of the COVID-19 pandemic we couldn’t do so.
“This year, by the grace of God, we are going to resuscitate that plan and it is to keep and maintain focus on revenue generation, collection and remittance.
“Our revenue to GDP ratio is very low and the economists will tell you Nigeria’s problem is not debt, but revenue.
“So, if that is the case, it means those of us in government must focus on dealing with the challenges of revenue generation, revenue collection and remittance.
“This year, we are going to have engagements with the revenue generating agencies such as Nigerian Ports Authourity (NPA), Customs, Federal Inland Revenue Service (FIRS) and so on, on a quarterly basis, to have their targets set for them, and we want them to come and brief us on their performance every quarter.
“We hope to start the first meeting, which is an exploratory kind of meeting with them either this month or early February.
“We want to see how we can make positive difference in the area of revenue generation.
“Nobody likes taking loans, borrowing or accumulating debts, whether as an individual, a family, a community or as a country.
“But what can you do when you’re not able to generate enough? We are as concerned as anybody else about our level of borrowing, even though we have not saturated, but if we can do better why not reduce, and the best way to reduce is to get more revenues from especially independent sources.
“The government owned enterprises are supposed to give us more money. In 2022, we are expecting maybe about a trillion, I’m not an economist, but I believe that we should be expecting maybe double or triple from them.”
Lawan further said that the National Assembly this year, would also focus on security through oversight of funds appropriated in the budget to the armed forces and security agencies.
He explained that doing so would guarantee transparency in the procurement process and ensure the welfare of military and security personnel tasked with restoring security across the country.
“Today, the security situation still begs for more attention. We will give a lot of attention to the security situation.
“We have appropriated about a trillion naira for our security agencies and armed forces, now it is for members of the National Assembly to ensure that the procurement process by the armed forces are transparent and everybody there is accountable.
“Of course, we should do oversight as much as possible for the welfare of our soldiers and security personnel. They need to continuously be motivated,” he said.
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Noble Ladies Champion Women’s Financial Independence at Grand Inauguration in Abuja

Women from diverse backgrounds across Nigeria and beyond gathered at the Art and Culture Auditorium, Abuja, for the inauguration and convention of the Noble Ladies Association. The event, led by the association’s Founder and “visionary and polished Queen Mother,” Mrs. Margaret Chigozie Mkpuma, was a colourful display of feminine elegance, empowerment, and ambition.
The highly anticipated gathering, attended by over 700 members and counting, reflected the association’s mission to help women realise their potential while shifting mindsets away from dependency and over-glamorization of the ‘white collar job.’ According to the group, progress can be better achieved through innovation and creativity. “When a woman is able to earn and blossom on her own she has no reason to look at herself as a second fiddle,” the association stated.
One of the association’s standout initiatives is its women-only investment platform, which currently offers a minimum entry of ₦100,000 with a return of ₦130,000 over 30 days—an interest rate of 30 percent. Some members invest as much as ₦1 million, enjoying the same return rate. Mrs. Mkpuma explained that the scheme focuses on women because “women bear the greater brunt of poverty” and the platform seeks “to offer equity in the absence of economic equality.”
Education is also central to the Noble Ladies’ mission, regardless of age. Their mantra, “start again from where you stopped,” encourages women to return to school or upgrade their skills at any stage in life. The association believes that financial stability is vital in protecting women from cultural practices that dispossess widows of their late husbands’ assets, while also enabling them to raise morally and socially grounded families.
Founded on the vision of enhancing women’s skills and achieving financial stability, the association rests on a value system that discourages pity and promotes purpose. “You have a purpose and you build on that purpose to achieve great potentials and emancipation,” Mrs. Mkpuma said.
A criminologist by training and entrepreneur by practice, she cautions against idleness while waiting for formal employment. “There are billions in the informal and non-formal sectors waiting to be made,” she said, rejecting the “new normal of begging” and urging people to “be more introspective to find their purpose in life and hold on to it.”
Mrs. Mkpuma’s management style keeps members actively engaged, focusing on vocational skills and training to prepare them for competitive markets. She is exploring “innovative integration of uncommon technologies” and is already in talks with international franchises to invest in Nigeria, with Noble Ladies as first beneficiaries.
The association’s core values include mutual respect, innovation, forward-thinking, equal opportunity, and financial emancipation. With plans underway to establish a secretariat in the heart of Abuja, the group aims to expand its impact.
The event drew high-profile guests, including former Inspector General of Police, Mike Okiro, and a host of VIPs, marking a significant milestone in the association’s drive for women’s empowerment.
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NEPZA, FCT agree to create world-class FTZ environment

The Nigeria Export Processing Zones Authority (NEPZA) has stepped in to resolve the dispute between the Federal Capital Territory Administration and the Abuja Technology Village (ATV), a licensed Free Trade Zone, over the potential revocation of the zone’s land title.
Dr. Olufemi Ogunyemi, the Managing Director of NEPZA, urged ATV operators and investors to withdraw the lawsuit filed against the FCT administration immediately to facilitate a roundtable negotiation.
Dr. Ogunyemi delivered the charge during a courtesy visit to the Minister of the Federal Capital Territory, Barrister Nyesom Wike, on Thursday in Abuja.
You will recall that the ATV operators responded to the revocation notice issued by the FCT administration with a lawsuit.
Dr. Ogunyemi stated that the continued support for the growth of the Free Trade Zones Scheme would benefit the nation’s economy and the FCT’s development, emphasizing that the FCT administration recognized the scheme’s potential to accelerate industrialisation.
Dr. Ogunyemi, also the Chief Executive Officer of NEPZA, expressed his delight at the steps taken by the FCT minister to expand the economic frontier of the FCT through the proposed Abuja City Walk (ACW) project.
Dr. Ogunyemi further explained that the Authority was preparing to assess all the 63 licensed Free Trade Zones across the country with the view to vetting their functionality and contributions to the nation’s Foreign Direct Investment and export drives.
“I have come to discuss with His Excellency, the Minister of the Federal Capital Territory on the importance of supporting the ATV to succeed while also promoting the development of the Abuja City Walk project. We must work together to achieve this for the good of our nation,” he said.
On his part, the FCT Minister reiterated his unflinching determination to work towards President Bola Ahmed Tinubu’s Renewed Hope Agenda by bringing FDI to the FCT.
“We must fulfil Mr. President’s promises regarding industrialization, trade, and investment. In this context, the FCT will collaborate with NEPZA to review the future of ATV, a zone that was sponsored and supported by the FCT administration,” Wike said.
Barrister Wike also said that efforts were underway to fast-track the industrialisation process of the territory with the construction of the Abuja City Walk.
The minister further said the Abuja City Walk project was planned to cover over 200 hectares in the Abuja Technology Village corridor along Airport Road.
According to him, the business ecosystem aimed to create a lively, mixed-use urban center with residential, commercial, retail, hospitality, medical, and institutional facilities.
He added that the ACW would turn out to be a high-definition and world-class project that would give this administration’s Renewed Hope Agenda true meaning in the North-Central Region of the country.
Barrister Wike also indicated his continued pursuit of land and property owners who failed to fulfil their obligations to the FCT in his determination to develop the territory.
Headlines
Benue IDPs block highway, demand return to ancestral homes

Vehicular movement along the Yelwata axis of the Benue–Nasarawa highway was brought to a standstill on Wednesday as Internally Displaced Persons, IDPs, staged a protest, demanding immediate return to their ancestral homes.
The protesters, believed to be victims of persistent attacks by suspected herdsmen, blocked both lanes of the busy highway for several hours, chanting “We want to go back home”.
The protest caused disruption, leaving hundreds of motorists and passengers stranded.
Eyewitnesses said the displaced persons, many of whom have spent years in overcrowded IDP camps, are expressing deep frustration over the government’s delay in restoring security to their communities.
“We have suffered enough. We want to return to our homes and farms,” one of the protesters told reporters at the scene.
Security personnel were reportedly deployed to monitor the situation and prevent any escalation, though tensions remained high as of press time.
Efforts to reach the Benue State Emergency Management Agency, SEMA, and other relevant authorities for comment were unsuccessful.
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