News
FG rolls out new strategies for economic growth, citizens welfare
FG rolls out new strategies for economic growth, citizens welfare
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has detailed the federal government’s ambitious plan to rejuvenate the economy while prioritising the welfare of its citizens.
Edun, at a recent television interview, underscored the government’s commitment to food security, aiming to make nutritious food affordable and accessible to all Nigerians. He revealed that the administration is not only drawing from food reserves but also facilitating imports to lower food prices.
According to him, this proactive approach, supported by the President’s commitment, is designed to make food more accessible and reduce living costs.
The minister explained that the government’s food production initiatives are pivotal in combating inflation.
“When inflation comes down, the exchange rate will stabilise. Interest rates will come down and the economy will have a chance. People will have a chance at reasonable rates to invest in various sectors of the economy, increase productivity, grow the economy and create jobs which is the key to reducing poverty,” he said.
READ ALSO:
- Army captures Boko Haram commanders, rescues kidnapped victims
- Yahaya Bello media team reveals plot to falsely label ex-Kogi gov security threat
- PDP didn’t suspend me, says ex-Benue Gov Ortom
“As food prices decrease, inflation is expected to drop, which will stabilise the exchange rate and lower interest rates. This environment will encourage investments, boost productivity, and create jobs—essential steps in reducing poverty” he said.
Edun also highlighted significant funding measures aimed at supporting businesses of all sizes. A notable initiative includes an $800 million loan from the World Bank’s International Development Association (IDA), offering a 40-year term at a mere 1 percent interest rate. This soft loan, coupled with additional federal budget allocations, represents the most affordable form of financing available.
For enterprises, the government has introduced a range of financial support schemes. Nano enterprises are eligible for grants of N50,000, while small and medium-sized businesses can access up to N1 million at a 9 percent annual interest rate. Larger medium-sized enterprises can secure up to N1 billion under similar terms. Additionally, import waivers and fiscal measures, such as the elimination of withholding taxes for the manufacturing sector and small businesses, are being implemented to lower operational costs.
FG rolls out new strategies for economic growth, citizens welfare
![]()
News
FG to Attach 300 NYSC Corps Members to CNG Workshops for Skills Training
FG to Attach 300 NYSC Corps Members to CNG Workshops for Skills Training
The Federal Government has announced plans to train and attach 300 National Youth Service Corps members to compressed natural gas conversion centres across the country as part of efforts to equip young Nigerians with practical technical skills and promote the adoption of CNG-powered vehicles.
The initiative is expected to provide the selected corps members with specialised training in CNG vehicle conversion and maintenance, enabling them to acquire skills that could improve their employment and entrepreneurship prospects after completing their national service.
The Senior Special Assistant to the President on Youth Initiatives, Monitoring and Delivery, Dr Titilope Gbadamosi, disclosed the plan at the opening of a CNG Retrofitting Training Programme for corps members at the NYSC FCT Orientation Camp in Kubwa, Abuja.
Gbadamosi said the selected corps members would undergo training and certification as CNG technicians before being deployed to CNG conversion centres across the country.
She explained that the programme would cover the six geopolitical zones and was designed to contribute to the Federal Government’s broader plan to expand the conversion of petrol and diesel-powered vehicles to CNG.
According to her, the initiative is expected to support the government’s target of converting 100,000 vehicles to CNG annually, while simultaneously creating opportunities for young Nigerians to develop specialised technical expertise.
The programme is being implemented in collaboration with relevant government agencies and stakeholders in the automotive and energy sectors.
The Minister of Youth Development, Ayodele Olawande, said the initiative would provide corps members with practical skills capable of complementing their university and polytechnic qualifications.
Olawande urged the beneficiaries to take the training seriously, describing technical and vocational skills as important tools for reducing youth unemployment and increasing self-reliance.
He said the Federal Government was interested in ensuring that the NYSC programme did not end with the traditional primary assignment and community development activities, but also provided corps members with skills that could sustain them after their service year.
The Director-General of the NYSC, Brigadier General Olakunle Nafiu, also described the programme as an important step towards equipping young Nigerians for emerging opportunities in Nigeria’s changing energy and automotive landscape.
He said the collaboration demonstrated the scheme’s commitment to providing corps members with practical skills and preparing them for the labour market.
The National Automotive Design and Development Council is also involved in the initiative, particularly in relation to technical standards and certification for the CNG conversion training.
The Federal Government has in recent years intensified efforts to promote CNG as a cheaper alternative fuel following the removal of petrol subsidy and the resulting increase in transportation costs.
The government has maintained that greater adoption of CNG could help reduce transportation costs, conserve foreign exchange spent on petroleum products and create new jobs in the automotive conversion and maintenance sector.
The training of NYSC members is therefore expected to address both sides of the policy — increasing the pool of skilled personnel available to service the growing CNG industry while providing young Nigerians with employable technical skills.
Meanwhile, reports circulating that each of the 300 corps members will receive a monthly training allowance of ₦100,000 have not been independently confirmed in the official details released on the programme.
The confirmed aspect of the initiative is that the selected corps members will receive specialised training and certification before being attached to CNG conversion centres across the country.
The programme is expected to serve as a pilot for broader youth-focused skills development initiatives as the Federal Government continues to seek ways of linking national service with employment, entrepreneurship and emerging economic opportunities.
FG to Attach 300 NYSC Corps Members to CNG Workshops for Skills Training
![]()
News
Tinubu Vows to Secure Nigeria, Declares Unity Non-Negotiable Amid Worsening Insecurity
News
Ronaldo Marries Georgina Rodriguez in Intimate Portugal Wedding Ceremony
Ronaldo Marries Georgina Rodriguez in Intimate Portugal Wedding Ceremony
![]()
-
News2 days agoTrump smuggled out of Turkey in catering truck over Iran threat
-
Education2 days agoNigerian Young Academy, LASU to Host 16th International Conference on Convergent Research
-
Politics2 days agoKeep Religion Out of Nigeria’s ‘Dirty Politics,’ Gumi Tells Jingir
-
Education3 days agoNigerian Mother Gifts Son a Live Goat After Polytechnic Graduation
-
News2 days agoSouth Africa Visa Applications Double From Nigerians Despite Xenophobia Concerns – Envoy
-
metro2 days ago‘I Acted Out of Patriotism’ — Army Colonel Ma’aji Breaks Silence, Explains Why He Plotted Coup Against Tinubu
-
metro2 days agoEx-Aiye Confraternity Leader Arrested in Lagos, Confesses to Multiple Killings in Mushin
-
International3 days agoRadio Caroline Fined Over False King Charles III Death Announcement
