News
FG unveils initiative to boost youth employment, enhance Nigeria’s foreign exchange earnings
FG unveils initiative to boost youth employment, enhance Nigeria’s foreign exchange earnings
ON the sidelines of the 78th United Nations General Assembly (UNGA), President Bola Tinubu at the weekend launched the National Talent Export Programme (NATEP) in a bid to shore up Nigeria’s foreign exchange earnings.
President Tinubu was represented at the launch by the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite.
The new initiative seeks to position Nigeria as an export hub for talent outsourcing in Africa following the example of India, Bangladesh, Mexico and The Philippines.
The unveiling of the programme took place at the Microsoft Office in New York, United States of America, on Friday, September 22, 2023.
A number of dignitaries from multilateral institutions and global tech giants joined the Ministers of Industry, Trade and Investment and her counterpart from the Ministry of Communications Innovation and Digital Economy, Dr. Bosun Tijani, on the occasion.
Among those who attended were Saadia Zahidi, Managing Director of the World Economic Forum, Mr. John G. Coumantaros, Chairman, US-Nigeria Business Council, Dr. Floriezelle Liser, President and Chief Executive, Corporate Council on Africa, Amal Hassan, Chief Executive, Outsource Global, Kashifu Inuwa Abdullahi, Director-General of the National Information Technology Development Agency, Adaora Ikenze, Meta Head of Public Policy for West and Central Africa, Ola Williams, Country Manager, Microsoft Nigeria and Ghana, who joined online, Joel Ogunsola, Chief Executive, TechDev, and Dr. Femi Adeluyi, National Coordinator of the programme.
READ ALSO:
-
Troops intercept eight vessels with stolen oil in Rivers
-
‘All hope not lost’ – Jandor tells supporters as tribunal delivers judgment today
-
Two injured as 40-foot container falls off Ojuelegba Lagos Bridge
Also present were Ursula Wynhoven, Representative of the International Telecommunication Union at the United Nations, Dr. Armstrong Takang, Chief Executive of Ministry of Finance Incorporated, Mr. Charles Murito, Director, Sub Saharan Africa – Government Affairs & Public Policy, Google, Mr. Charles Okochu, Senior Business Development Manager, Amazon AWS, and Michelle Masuzyo Nsanzumuco, AfCFTA Digital Trade Expert.
In her welcome address on behalf of President Tinubu, Dr. Uzoka-Anite noted that the National Talent Export Programme is a key national initiative that will serve as a Special Purpose Vehicle (SPV) to position Nigeria as a leading global hub for service exports, talent sourcing and talent exports.
According to the Minister, NATEP will serve as a dedicated entity to address the unique needs and challenges faced by the talent and service export industry.
The programme will lay special emphasis on enhancing competitiveness, fostering innovation, and driving sustainable growth through trade in services.
The minister further noted that NATEP is part of the strategy towards achieving President Tinubu’s agenda for job creation.
The NATEP initiative will target the creation of 1 million in-demand jobs across Nigeria, over a 5-year period.
“This initiative will do three things for us as a country. One, it will create millions of jobs for our young people over the next 5 years and beyond. Secondly, it will bring in foreign exchange that our economy needs through remittances from talents that will be exported abroad and those that will be living in Nigeria and working remotely for organisations outside Nigeria and thirdly, it will generate huge tax income for state governments,” the minister said.
READ ALSO:
-
Taraba gov approves N75,000 allowance for corps members
-
Police, army foil kidnap attempts as gunmen attack Katsina housing estate
-
JUST IN : Coscharis Motors affected as Wike revokes another 21 plots of land in Abuja
In her goodwill message, the Managing Director of the World Economic Forum, Saadia Zahidi, said NATEP is a timely initiative to address the very important areas of skills and jobs for Nigeria and the world.
She stated that the WEF looks forward to partnering with Nigeria on the programme.
“This is an important programme that is coming at the right time. We at WEF stand ready to work with the Nigerian government on this great initiative.”
The Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, who praised her counterpart for spearheading the NATEP initiative, said his ministry would collaborate and support the programme to ensure it delivers on the set objectives.
Dr. Tijani explained the importance of talents and in-demand workforce as critical part of the global economic structure, saying such is the reason why leading countries across the world are intentional about attracting and retaining top talents.
Other speakers at the event also acknowledged how auspicious and ambitious NATEP is as a national initiative capable of changing the economic fortunes of Nigeria just like India that attracts over $300 billion annually from talents export. The speakers commended the Federal Government on the laudable initiative and gave their commitment towards supporting the programme.
A panel discussion that took place during the event was moderated by the National Coordinator of NATEP, with Amal Hassan, Ola Williams and Adaora Ikenze serving as panelists.
The panel discussion attracted a lot of positive feedback from the participants and elicited their commitment to working together to support the NATEP initiative.
The event ended with the unveiling of the NATEP logo with the Minister of Industry, Trade and Investment indicating to the world that Nigeria is ready to become a global hub for talent exports.
FG unveils initiative to boost youth employment, enhance Nigeria’s foreign exchange earnings
![]()
News
Warri-Itakpe Derailment: 4 Dead, 64 Injured – Opeifa Explains What Really Happened
Warri-Itakpe Derailment: 4 Dead, 64 Injured – Opeifa Explains What Really Happened
The Nigerian Railway Corporation has released a preliminary report indicating that a sudden wheel or bogie defect may have caused the June 8 train derailment in Delta State that killed four people and injured 64 others.
NIGERIA – The Nigerian Railway Corporation (NRC) has said that a “possible sudden development of a bogie or wheel defect” may have been the primary factor in the June 8, 2026 derailment of the Warri-Itakpe Train Service in Delta State. The corporation also identified the “possible manner of brake application” as a factor that may have contributed to the severity of the incident. However, the NRC stressed that both remain working hypotheses pending the conclusion of a comprehensive investigation. The NRC disclosed this in its preliminary report on the incident, which occurred at about 4:17 p.m. while the train was approaching the Outer Home signal of the Goodluck Jonathan Railway Station at kilometre 177, Owa-Oyibu, Agbor. “Based on the internal investigation carried out by the NRC inquiry team, preliminary observations indicate the possible sudden development of a bogie/wheel defect while en route. This observation is being investigated further as a potential primary factor in the derailment,” the NRC said in the report signed by its Managing Director, Kayode Opeifa. “A wheel defect of this nature may have generated abnormal wheel-rail interaction, excessive impact loading, and loss of running stability”.
READ ALSO:
- Iran Warns Countries Backing New US Sanctions, Threatens Strait of Hormuz Closure
- 5,000 Zamfara Quran Reciters Hold Special Prayers for Tinubu/Shettima 2027 Re-election
- Tears Flow in Ilaro as Nollywood Veteran Ogogo Is Laid to Rest
The train had departed Itakpe at noon with 482 people on board, comprising 442 passengers and 40 operational personnel. Five coaches, one locomotive, and a power car derailed, with three coaches and the power car overturning. The incident resulted in four confirmed deaths – three adults and one child – while 64 people sustained various injuries. Of those injured, 28 were treated and discharged at the Railway Hospital in Owa-Oyibu, while 36 others were taken to general hospitals in Owa-Oyibu, Owa-Alero, and Central Hospital, Agbor. Most of those admitted were discharged within 72 hours, though three people, including an NRC staff member who required surgery, remained under specialist medical care. All passengers were evacuated within two hours of the incident, with emergency response operations involving the Delta State Government, Nigeria Police Force, Federal Road Safety Corps, National Emergency Management Agency, and local authorities.
Importantly, the NRC inquiry team found that the railway points were intact and detected no evidence of track vandalism at the accident location. This distinguishes the June incident from two previous Warri-Itakpe accidents on November 1 and November 8, 2025, which were attributed to track vandalism. The NRC said the Nigerian Safety Investigation Bureau (NSIB) has commenced an independent investigation in line with statutory requirements, with the NRC fully cooperating with the process. The NSIB has recovered critical evidence from the accident scene, including witness statements, operational records, maintenance documentation, and technical data, which are undergoing detailed analysis. “The NSIB final report remains pending,” Opeifa stated.
The corporation said the track has been fully recovered and restored, while the locomotives are undergoing reconditioning. However, resumption of the Warri-Itakpe service would depend on the completion of a detailed track and equipment safety audit. The NRC’s preliminary report also recommended comprehensive inspections and safety audits of rolling stock, tracks, and railway infrastructure; strengthened maintenance and condition-monitoring programmes; updated operational procedures; and stronger enforcement of safety standards.
Warri-Itakpe Derailment: 4 Dead, 64 Injured – Opeifa Explains What Really Happened
![]()
News
Subsidies or Student Loans? Minister Poses Tough Questions to Critics
Subsidies or Student Loans? Minister Poses Tough Questions to Critics
Information Minister Mohammed Idris cautions that restoring petrol subsidy would undermine fiscal progress, weaken investor confidence, and return Nigeria to the economic crisis of 2022, as the government highlights ₦6.47 trillion in infrastructure spending and over 10 million households reached with social transfers.
ABUJA, Nigeria – The Minister of Information and National Orientation, Mohammed Idris, has issued a firm warning against renewed calls to restore the petrol subsidy, declaring that such a move would reverse the economic gains recorded under President Bola Tinubu’s administration and plunge Nigeria back into the fiscal crisis that characterised the old subsidy regime. In an Op-Ed titled “Restoring Fuel Subsidy Will Reverse Nigeria’s Economic Gains,” published on Monday, August 24, 2026, in several national dailies, the minister outlined the fiscal benefits of subsidy removal, the economic risks averted, and the difficult trade-offs that would confront the country should petrol subsidy be reintroduced. According to a statement issued by his Media Aide, Rabiu Ibrahim, in Abuja, Idris argued that proponents of subsidy restoration must confront the real opportunity costs of such a decision, asking whether Nigerians are willing to sacrifice student loans, consumer credit, infrastructure funding, and social protection for the return of a policy that proved economically devastating.
“Restoring subsidy would almost instantly return Nigeria to the economic conditions of 2022, recreating the same fiscal pressures, distortions, scarcity and incentives for arbitrage that made the old system unsustainable,” Idris said. The minister recalled that in 2022, amid declining oil production and weak revenues, Nigeria spent about $10 billion on fuel subsidies, while the World Bank warned that the subsidy was consuming resources that could otherwise have supported education, healthcare, infrastructure and social protection. He noted that the legacy Ways and Means financing, which stood at about ₦30 trillion in May 2023 and has since been curtailed, would have doubled to ₦60 trillion or more without the reforms, while 27 states that were unable to reliably pay salaries would have seen their situations worsen considerably.
READ ALSO:
- Police vow to arrest killers of 10 officers slain in Kebbi gun battle
- Police vow to arrest killers of 10 officers slain in Kebbi gun battle
- Salah scores brace as Trabzonspor beat Basaksehir 2-1
Idris posed a series of pointed questions to those calling for subsidy restoration, challenging them to consider what would be sacrificed. “Do we restore petrol subsidy, or sustain student loans and consumer credit for young Nigerians? Do we restore subsidy, or preserve higher allocations to states and local governments? Do we restore subsidy, or continue funding roads, rail, power and security? Do we restore subsidy, or strengthen the fiscal capacity required to expand healthcare, education and social protection for vulnerable Nigerians?” he asked. The minister emphasised that these are not rhetorical questions but real policy choices that would confront the nation. He noted that the Organised Private Sector and the wider economic community have also cautioned against reversing the reform, recognising that Nigeria cannot build tomorrow’s economy by returning to yesterday’s unsustainable subsidy regime.
Citing the Federal Government’s recently presented “Nigeria’s Reform Scorecard: The Benefits, Costs and Harms Prevented,” Idris noted that the Minister of Finance and Coordinating Minister of the Economy, Dr. Taiwo Oyedele, disclosed that subsidy savings mobilised ₦15.8 trillion in resources for the Federation between June 2023 and December 2025. He explained that approximately ₦5.43 trillion accrued to the Federal Government, ₦6.52 trillion to states, and ₦3.88 trillion to local governments—clarifying that the ₦15.8 trillion was not a separate pool of cash but resources released within the Federation’s wider fiscal system. The minister noted that the increased fiscal space has strengthened the capacity of states and local governments to meet salary and pension obligations while enabling major federal investments in infrastructure, security, agriculture, and human capital. According to Idris, the Reform Scorecard recorded approximately ₦6.47 trillion in additional expenditure on strategic infrastructure, including major national corridors such as the Lagos-Calabar Coastal Highway, Sokoto-Badagry Superhighway, and the Trans-Sahara Superhighway.
Beyond infrastructure, the minister highlighted that more than ₦400 billion has been committed to major social investment initiatives, including the Nigeria Education Loan Fund (NELFUND) with ₦223.8 billion, the MOFI Real Estate Investment Fund (MREIF) with ₦150 billion, and the Nigerian Consumer Credit Corporation (CREDICORP) with ₦50 billion. He added that social transfers have reached more than 10 million Nigerian households, providing critical support to vulnerable families across the country. Idris also pointed to renewed investor confidence, noting that the Nigerian stock market is the world’s best-performing in 2026, external reserves are at their highest level in nearly 20 years, and oil production has exceeded its OPEC quota for the first time in years. These indicators, he said, reflect the positive trajectory of the economy under the current reform agenda.
READ ALSO:
- Seven killed, seven injured in Bida-Kutigi road crash
- Kwara Monarch, Baale’s Wife Abducted as Fresh Wave of Kidnappings Hits Communities
- KWAM 1 Breaks Down on Stage in Emotional Tribute to Late Nollywood Icon Ogogo
The minister further warned that Nigeria is already carrying a substantial electricity subsidy estimated at ₦3.14 trillion between June 2023 and December 2025. This subsidy helps bridge the gap between actual power production costs and the capped tariffs paid by most consumers. According to figures from the Ministry of Finance, electricity subsidy payments rose sharply from N177 billion in 2023 to N1.48 trillion in 2024—an increase of more than 740 percent—before declining marginally to N1.47 trillion in 2025. “Reintroducing a petrol consumption subsidy on top of this would deal a double blow to Nigeria’s fiscal position,” Idris warned, noting that the combined burden would severely constrain the government’s ability to invest in critical sectors and maintain fiscal stability.
The minister also detailed the economic harm that the reforms have helped Nigeria avert. Had the subsidy regime remained unaddressed, he said, petrol scarcity would have returned, pushing prices above ₦3,000 per litre on the black market. The legacy Ways and Means financing, which stood at about ₦30 trillion in May 2023 and has since been curtailed, would have doubled to ₦60 trillion or more. The Scorecard projects that, without the reforms, the inherited situation of 27 states unable to reliably pay salaries would undoubtedly have worsened. Idris noted that the Centre for the Promotion of Private Enterprise (CPPE) recently backed the Federal Government’s economic reform programme, saying the measures have produced measurable improvements in Nigeria’s fiscal and macroeconomic position, though it urged a shift from economic stability to productivity, investment, and improved living standards.
The minister acknowledged that Nigerians are facing difficulties arising from the reforms but maintained that reversing course is not the solution. “We are not claiming that the reforms have solved all of Nigeria’s economic challenges; there is indeed still much work to be done to translate improved fiscal capacity into better services, jobs, infrastructure and living standards,” he said. He urged citizens to view the reforms in the context of the country’s long-term economic stability and the need to build a stronger, more productive economy. “Nigeria cannot build tomorrow’s economy by returning to yesterday’s unsustainable subsidy regime. We have moved beyond that model,” Idris concluded.
Subsidies or Student Loans? Minister Poses Tough Questions to Critics
![]()
News
Lagos Pensioners Draw Battle Line with Government Over Pension Enhancement
-
metro2 days agoLagos Police arrest five suspected telecom vandals, recover truckload of iron rods
-
Politics2 days agoOpposition Unity Cracks as Atiku, Obi, Kwankwaso Diverge on 2027 Strategy Against Tinubu
-
metro2 days agoLagos Moves to Tackle Housing Deficit, Inaugurates 2026 World Habitat Day Committee
-
Entertainment1 day agoVeteran Nollywood Actor Taiwo Hassan ‘Ogogo’ Dies at 66 After Cancer Battle
-
Politics2 days ago2027: Wike explains why he won’t join Tinubu’s campaign council
-
Politics2 days ago2027: Alfindiki tackles Atiku over Tinubu’s FBI records
-
metro2 days ago2027: Over 500 Northern Muslim Clerics Endorse Tinubu for Second Term
-
metro2 days agoRivers Monarch Escapes Assassination as Gunmen Raze Palace, Several Wounded
