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Okonjo-Iweala Tells Country “Don’t Touch CBN, Economic Policies That’s Working “

But where things are working to the good, we ask, why fix what is not broken?

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Ngozi Okonjo-Iweala, the Director-General, of World Trade Organisation (WTO) has advised Nigerian governments not to tamper with the economic and social policies that are working.

She gave the advise during the Annual General Conference of the Nigerian Bar Association (NBA) themed ‘Pressing forward: A National Posture for Rebuilding Nigeria.’

In a keynote address,  Ngozi Okonjo-Iweala, said : “I’m here to speak to all governments of my country, all political parties, all Nigerians, about a positive way forward for the country.

We all understand that where policies are bad and not working, of course politics should intervene.

“But where things are working to the good, we ask, why fix what is not broken?

“No one should tamper with the Central Bank asking for the manipulation of interest rates or exchange rates.

Do not use the Central Bank as a fiscal agent asking for the printing of naira beyond agreed Ways and Means limits as this can fuel inflation.

At the event in Lagos, Ngozi Okonjo-Iweala, decried a phenomenon among the political leaders she labelled as the “not-in-my-administration syndrome” of jettisoning policies.

The economist believes certain sacrosanct policies should not be changed whenever there is a change in administration.

The former finance minister said: “Nigeria today is not where it should be, and our country has not progressed as it should have.

“That is why, more than 60 years after independence, we are still discussing nation-building.

“But we must shift our focus from blame games to concrete actions that tackle present and emerging challenges.

I said this not in recrimination or even in futile regret, but rather as part of moving our country and advancing its interests.
I’m not here to castigate or blame anyone.

“By social contract, I mean a fundamental cross-party, cross-society agreement that certain things in the economy, in the country, in policy and society are sacrosanct and shall not be touched or changed when administrations change.”

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BREAKING: Tinubu to meet Obasa, Lagos Assembly members in Abuja

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President Bola Tinubu is scheduled to meet with the Lagos State House of Assembly, at the Presidential Villa, Abuja.

Already, the Speaker, Mudashiru Obasa, arrived at about 2:50 pm, while his colleagues had earlier arrived in two coaster buses.

The meeting may not be unconnected with the recent leadership crisis in the State House of Assembly.

The Speaker, Rt. Hon. Obasa was impeached by some of his colleagues but he was later reinstated after the intervention of the political leaders especially the Governing Advisory Council, GAC.

Despite the Speaker’s reinstatement, it was gathered that the bad blood as a result of his impeachment is yet to be over.

Details later…

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UK, Nigeria launch creative industries technical Working Group

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The UK and Nigeria have officially launched the Creative Industries Technical Working Group, marking a pivotal development in the UK-Nigeria Enhanced Trade and Investment Partnership (ETIP).

This partnership aims to deepen bilateral ties and create a robust framework for growth within the creative sectors of both nations.

A statement by the UK High Commission in Lagos said the launch of this working group and a match-making event for UK-Nigeria creative industries leaders today in London represents a milestone in the UK-Nigeria relationship, designed to boost innovation, cross-border creative collaborations, and sustainable economic growth and development.

It said both events provided a dynamic platform to explore new opportunities and form commercial alliances within key creative subsectors such as Film and TV, Music, Fashion & Design, Architecture, Advertising, and Gaming.

The initiative is poised to foster long-term growth, enhance job creation, and unlock new pathways for creativity and innovation in both countries by prioritising collaboration and cultural exchange.

Speaking on the significance of the launch, Florence Eshalomi MP, the UK’s Trade Envoy to Nigeria and Co-Chair of the UK-NG Creatives Technical Working Group, said: “Today marks a significant moment as we launch the UK-Nigeria Creatives Working Group.

Our nations share a rich cultural bond and a deep belief in the transformative power of creativity, through music, film, fashion, and the arts.

“This initiative, rooted in our landmark Enhanced Trade & Investment Partnerships (ETIP), will drive stronger trade ties, foster deeper collaboration, and unlock the full potential of our creative industries.

“By enhancing market access and investing in skills, we are opening doors to new opportunities that will create jobs and boost economic growth in the UK and Nigeria.”

Emphasising the need for deeper creative and cultural ties, Mr Obi Asika, Director General of the National Council for Arts and Culture and Co-Chair of the UK-NG Creatives Technical Working Group in Nigeria, said: “Nigeria’s creative economy is a global force, driven by our storytellers, musicians, designers, and digital innovators.

From Nollywood to Afrobeats, fashion to gaming, our industries are reshaping global culture and commerce.

“However, to unlock the full potential of this sector, we need strategic investment and support not just in talent, but in the institutions and infrastructure that will sustain long-term growth.”

Representing Mr., Obi Asika from the Nigerian side, Prince Baba Agba, Special Assistant to the President of Nigeria on Creativity, underscored the importance of leveraging UK expertise for impactful collaborations, adding:

“The UK’s creative industries stand as a global benchmark for institutional excellence, market distribution, and innovation.

We are eager to tap into your expertise for meaningful partnerships.

“This Working Group isn’t just about discussions – it’s about taking concrete actions that will yield tangible outcomes for creators, businesses, and industry stakeholders on both sides.”

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BREAKING: Fubara denied access to present budget, locked out of Rivers Assembly complex (Video)

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Rivers State Governor, Siminalayi Fubara was on Wednesday denied access to the Rivers State House of Assembly quarters, where lawmakers currently hold plenary sessions.

ohibaba.com gathered that the governor arrived at the Assembly quarters on Wednesday morning to present the state 2025 budget but was met with a locked gate, preventing his entry.

Fubara had earlier pledged to implement the Supreme Court judgment, which includes the formal presentation of the 2024 budget.

The budget was initially presented to a four-member Assembly faction in December 2023.

Last week, the Assembly issued a 48-hour ultimatum for the governor to present the 2025 budget.

In response, Fubara stated that he was awaiting the Certified True Copy, CTC, of the court judgment before proceeding.

On Sunday, in a letter signed by the Secretary to the State Government, Tammy Danagogo, and addressed to Speaker Martins Amaewhule, Fubara invited lawmakers for discussions on the Supreme Court ruling.

The discussions were expected to cover issues such as the budget presentation and the payment of outstanding salaries to the legislators, amongst other issues to chart a way forward for the state.

Watch video below:

Video source: ChannelsTV

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