Documentaries

Under President Bola Ahmed Tinubu’s administration, Nigeria’s economic recovery efforts are coordinated through various government agencies and strategic initiatives rather than a single dedicated agency. Key components include: 1. National Economic Council (NEC): Chaired by Vice President Kashim Shettima, the NEC advises the President on economic policy and includes state governors and the Central Bank Governor. It plays a pivotal role in shaping and implementing economic strategies.  2. Federal Ministry of Finance: Led by Minister Wale Edun, this ministry oversees fiscal policies, budgeting, and financial regulations. It is instrumental in implementing reforms aimed at economic stabilization and growth.  3. Budget Office of the Federation: Responsible for budget preparation and implementation, this office ensures alignment with national economic objectives. In 2024, President Tinubu appointed Tanimu Yakubu as its Director General.  4. Revenue Mobilisation Allocation and Fiscal Commission (RMAFC): This commission advises on revenue allocation and fiscal matters, contributing to the equitable distribution of resources.  5. National Credit Guarantee Company: Set to be established in May 2025, this entity aims to enhance credit access for businesses and individuals, fostering economic growth.  President Tinubu’s administration has initiated several reforms, including the removal of fuel subsidies and currency devaluation, to address economic challenges. These measures have led to increased living costs, prompting both support and criticism.  In summary, Nigeria’s economic recovery under President Tinubu is managed through a collaborative framework involving multiple agencies and strategic reforms, each contributing to the nation’s economic revitalization. Reforms, fiscal gains signal Nigeria’s economic recovery Finance Minister— Edun          He made the disclosure in Abuja during the 2025 budget defense before the Senate Committee on Finance Joseph Inokotong.         The Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has stated that Nigeria’s economy is making significant strides in recovery and growth.          Edun, who was joined by the Minister of State for Finance, Dr. Doris Uzoka-Anite, the Permanent Secretary, Federal Ministry of Finance, Mrs. Lydia Shehu Jafiya, the Accountant General of the Federation, Dr. Oluwatoyin Sakirat Madein, as well as the Ministry’s Directors, outlined the President Bola Ahmed Tinubu-led Administration’s efforts to stabilise the economy through key reforms and fiscal measures. Edun highlighted the broad impact of the reforms to include the liberalisation of the foreign exchange market, deregulation of petroleum pricing, and the expansion of domestic refining capacity. He explained that these measures are driving fiscal stability, reducing  inefficiencies, and creating a more sustainable economic framework. The Minister acknowledged, however, that while the reforms may bring short-term discomfort, their long-term benefits will include job creation, poverty reduction, and greater economic resilience. He emphasized the government’s commitment to infrastructure development, particularly in digital networks and energy, to improve productivity and attract private sector investments. In a statement, Mohammed Manga, Director, Information and Public Relations in the Federal Ministry of Finance said the Senate Committee on Finance approved the Ministry’s N38 billion 2025 budget. They commended the Ministry’s leadership for its commitment to fiscal discipline and economic recovery. Edun expressed confidence in Nigeria’s brighter economic future, noting that the reforms will transform the country’s economic landscape and improve the standard of living. Under the leadership of Vice President Kashim Shettima, the National Economic Council (NEC) has undertaken several initiatives aimed at bolstering Nigeria’s economic stability And growth. Key outcomes from recent NEC meetings include: 1. Food Security and Agricultural Support           In February 2024, the NEC addressed challenges in the agricultural sector by focusing on enhancing food security and affordability. The council resolved to make fertilizers more accessible to farmers and proposed the establishment of Agro-Rangers to safeguard farms from insecurity. Vice President Shettima, emphasized the importance of collaborative efforts to develop actionable strategies for overcoming economic challenges. 2. Economic Stability and Policy Reforms          At the 136th NEC meeting in September 2023, Vice President Shettima highlighted economic stability as a priority for the Tinubu administration in 2024. He urged federal, state, and local governments to re-evaluate priorities, streamline processes, and make bold decisions addressing social issues such as social protection, investment, and nutrition. The Vice President commended President Bola Ahmed Tinubu’s courage in implementing bold reforms to re-position the economy.  3. Combating Malnutrition          In September 2024, the NEC endorsed the N-774 programme as a primary platform to combat malnutrition across Nigeria. This decision followed a presentation on the nation’s nutritional status by the Coordinating Minister of Health and Social Welfare, Ali Pate. The council resolved to prioritize nutrition interventions in the 2025 budget at all government levels and encouraged development partners to provide financial and technical assistance for monitoring and scaling successful interventions.  4. Data Collection and Technological Integration          During the 2024 World Population Day commemoration, Vice President Shettima emphasized the need for improved data collection and technological deployment to generate comprehensive evidence guiding government decisions and investments. He advocated for the use of advanced technology to strengthen data systems and institutions, which would support resilient and equitable development pathways.  5. Addressing Economic Challenges and Poverty          In December 2023, Vice President Shettima called for a strong alliance among all government levels and development partners to alleviate poverty and enhance Nigerians’ quality of life. He stressed the importance of aligning efforts to create an environment where every citizen has the opportunity to thrive.  These initiatives reflect the NEC’s commitment to addressing Nigeria’s economic challenges through collaborative and strategic approaches under Vice President Shettima’s leadership. Source: Federal Ministry of Information Under President Bola Tinubu’s leadership, Nigeria has undertaken significant economic reforms aimed at stabilizing and revitalizing the economy. Here’s an overview of the outcomes in key areas: 1. Fuel Subsidy Removal: In May 2023, President Tinubu announced the removal of the longstanding fuel subsidy, a move that had been draining substantial government resources. By July 2023, the government reported savings exceeding 1 trillion naira (approximately $1.32 billion) within just over two months of subsidy removal.  However, the immediate aftermath saw a sharp increase in fuel prices, leading to widespread public protests and economic hardship for many Nigerians. In response, the government partially reversed the subsidy removal by capping retail fuel and

Congolese people displaced following recent clashes between the M23 rebels and the Armed Forces of the Democratic Republic of the Congo (FARDC), leave the camps and return to their homes after the M23 rebels instructed them to vacate the camps in the outskirts of Goma, Democratic Republic of the Congo February 12, 2025. NAIROBI, Feb 14 – Congo’s war tops the agenda at this weekend’s African Union summit but chances of diplomatic progress are slim as rebels advance and Rwanda’s leader, accused of backing them, has vowed to “spit in the face” of anyone punishing him for his actions. The advance of M23 rebels through eastern Congo has triggered fears that Africa’s Great Lakes region risks slipping back into a broader war sucking in neighboring armies, reminiscent of conflicts in the 1990s and 2000s that killed millions. The AU summit in Addis Ababa on Saturday 15th and Sunday 16th of February is meant to be the next stage in regional efforts to halt the conflict. But rebels ignored calls for peace at a summit last week and have pushed towards Bukavu, some 200 km south of Goma, eastern Congo’s biggest city which was seized last month. “I think this is the most serious crisis in Africa right now. It is time for the African Union to show its strength,” Stephanie Wolters, senior research fellow at the South African Institute of International Affairs, told Reuters. World leaders have called for Rwanda to cut its support for the M23 fighters, which U.N. experts say includes troops and advanced military hardware. The United States has warned of possible sanctions against Rwandan and Congolese officials. The European Parliament on Thursday urged the European Union to freeze direct budget support for Rwanda. But President Paul Kagame remains defiant. Rwanda has repeatedly denied backing M23 but says it will do everything necessary to defend itself from Hutu militants in Congo that Kigali, and M23, says remain bent killing Tutsis and attacking Rwanda 30 years after the 1994 genocide. EXISTENTIAL THREATS M23 is the latest in a string of Rwanda-backed rebel movements in Congo to cite this threat as they take up arms in the eastern borderlands, which are far from the capital, Kinshasa, and rich in minerals. “We have faced existential threats for years. We had the worst tragedy in ’94. You really come to me and start threatening … sanctions because I am defending myself? And you think I have any iota of fear for that?” Kagame told France’s Jeune Afrique magazine. He recalled an episode from the genocide, when he said a woman about to be killed was told to choose how she would prefer to be killed. Instead, he said, she spat in the face of her assailants. “You can imagine how much I am going to spit in the face of anyone who tells me to choose between which death I should face,” he said. Congo’s President Felix Tshisekedi travelled to Germany on Thursday, 20th to take part in the Munich Security Conference, where he would seek greater international involvement resolving Congo’s crisis, his office said in a post on X. He is due to continue to the AU summit afterwards, a source in the presidency said. M23 rebels last seized Goma in 2012. It only briefly held the city before withdrawing under intense international pressure, threats of aid cuts to Rwanda and an aggressive African force defeated the rebels. This time, though, experts say there is more reluctance to take on Rwanda and the multitude of other global crises is eating into world leaders’ attention. The M23 advance south has been slowed by Congolese forces backed by thousands of Burundian troops, which have also deployed into Congo. Tensions between Burundi and Rwanda run high, adding to regional tensions. Source: The Reuters 

The Central Bank of Nigeria (CBN) implements monetary policies to control inflation, stabilize the currency (Naira), and promote economic growth. As of 2024, the CBN has made several policy adjustments to tackle challenges like rising inflation, exchange rate volatility, and liquidity issues.  Key Monetary Policies in Nigeria (2024) Interest Rate Adjustments (Monetary Policy Rate, MPR) The Monetary Policy Rate (MPR) is the benchmark interest rate used to control inflation and borrowing costs. Latest Update: In February 2024, the CBN raised the MPR to 22.75% from 18.75% to curb inflation and stabilize the Naira. Impact: Higher interest rates reduce borrowing and slow down inflation. Businesses may struggle with higher loan costs. Foreign Exchange (FX) Management Policies The CBN has taken steps to stabilize the exchange rate of the Naira against the US Dollar. Key Policies: Unification of Exchange Rates – CBN merged official and parallel market rates to create a more flexible exchange system. Increased FX Supply – CBN is injecting dollars into the market to reduce scarcity. Restrictions on FX Access – Importers of certain items cannot get FX at official rates to encourage local production. Impact: Short-term volatility in the exchange rate Businesses involved in imports face higher costs. More investment opportunities for exporters Cash Reserve Ratio (CRR) & Liquidity Management Cash Reserve Ratio (CRR): The percentage of bank deposits that commercial banks must keep with the CBN. Latest Update: Increased to 45% to reduce excess liquidity and control inflation. Impact: Reduces the amount of money available for banks to lend Slows down inflation but makes loans more expensive. Inflation Control Measures Nigeria’s inflation rate was around 29.9% in January 2024, driven by food and fuel price increases. CBN uses tight monetary policies (higher interest rates, controlling money supply) to fight inflation. Impact: Prices of goods may rise more slowly. Higher borrowing costs may reduce business expansion. Digital Payment & Cashless Policy Enforcement CBN continues to push for a cashless economy through digital transactions and e-Naira adoption. Recent Updates: Increased limits on cash withdrawals to encourage electronic transactions. More incentives for using the e-Naira and digital banking Impact: Encourages financial inclusion and reduces reliance on physical cash. Businesses must adopt digital payment systems. Banking Sector Regulations & Lending Policies CBN enforces stricter regulations to ensure banking stability and reduce bad loans. Recent Policies: Tightening regulations on loan disbursement to reduce non-performing loans (NPLs). Increasing capital requirements for banks to ensure financial stability Impact: Stronger banking system Harder access to credit for some businesses Summary of Impact on Businesses & Individuals Policy Effect on Businesses Effect on Individuals Higher MPR (Interest Rate) More expensive loans, reduced investment Higher loan interest, lower purchasing power FX Policies & Exchange Rate Unification Increased import costs, better export opportunities More expensive foreign goods, potential Naira stability Higher CRR & Liquidity Control Reduced access to bank loans Harder to get business or personal loans Inflation Control Measures Slower price increases but lower consumer spending Higher cost of living, slower salary growth Cashless Policy & Digital Payments More need for digital transactions Increased use of e-payments & mobile banking Conclusion & Future Outlook Source: Reuters