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Sanwo-Olu Launches 5-Year Agricultural and Food Security Roadmap

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I am excited to make history with you all today as we launch Lagos State’s 5-Year Agricultural and Food Security Roadmap.

At the inception of this administration in May 2019, we identified food security as a major policy thrust of this Government and a key component of our T.H.E.M.E.S Agenda. This 5-year Agricultural Roadmap has been designed in line with that Agenda, to reform, transform, and maximize the potential of Lagos State’s Agricultural Sector.

As you all know, Lagos State with a population of 22 million people is Nigeria’s commercial capital but it has the smallest landmass among the 36 States of the Federation. We, therefore, rely on massive food importation from neighbouring States to sustain the food requirements of our teeming population.

We have had to mutually collaborate with other States, to ensure food sustenance in our State – an approach that resonates with global best practices and enables optimal levels of planning, advocacy, funding, and collaboration for agricultural development.

However, we cannot continue to rely exclusively on such alliances. The time is right for us to unlock our immeasurable agricultural potential through the implementation of a 5-year roadmap that will lead to wealth generation, value creation, food security, the industrialization of our agricultural sector and the entrenchment of inclusive socio-economic development.

As a visionary Government, we are committed to optimally developing our potential in food production. The adverse effects of the coronavirus pandemic on food security have necessitated immediate action on ensuring food security for all Lagosians.

With the human and capital resources at our disposal, we should be able to feed ourselves (and even possibly the Nation) by becoming self-sufficient in food production and supply, and engender sustainable growth through the development of the agricultural sector.

The first step towards achieving this is the preparation of a Five-year Agricultural and Food Security Roadmap. Let me, at this juncture, appreciate the leadership of the Ministry of Agriculture for making that promise a reality.

The focus of the 5-Year Agricultural and Food Security Road Map is the development of agricultural value chains where Lagos State has competitive and comparative advantages to enhance the State’s self-sufficiency in food production from 18% to 40% over the next five years, and achieve the Sustainable Development Goals (SDGs) in Lagos State.

In order to successfully implement our 5-year roadmap, we will take a cue from other economies that have achieved self-sufficiency in food production. We will also aim to put the private sector at the heart of our vision for food security in Lagos State, with government as enabler and catalyst.

We are cognizant of the fact that we must formulate policies that can encourage private sector investment in agriculture and we must provide robust market information systems for Agricultural Value Chain actors, for adequate planning and the circumvention of risks and uncertainties.

Our strategies for sustainable Agricultural Development shall focus on the following three (3) pillars:

Growing the upstream sector through interventions by leveraging technologies that are capable of lowering the cost of production of value chains (Fisheries, Poultry, Piggery, Rice, Vegetables and Coconut) with support from donor agencies.
ii. Growing the midstream and downstream sectors (value addition involving: processing, handling, storage, cold chain, packaging, utilization and commercialization) of all important agricultural value chains by leveraging on the huge market with support from donor agencies.

iii. Improving private sector participation by developing and initiating policies that will encourage more private investment in agriculture. This will include linking the private sector with business-friendly credits.

The projection is that the total investment in the Agricultural Sector from the government, private sector, donor agencies and development partners will run into over $10Billion in the next five years. While we expect most of the investment to be private sector-driven, government will continue to provide the needed infrastructure while the private sector will be encouraged to lead the key projects.

The Lagos State 5-Year Agricultural Roadmap is, therefore, the most appropriate tool needed to unleash the capacity of Lagosians to produce the most-consumed agricultural products in the State and to accelerate the establishment of farms and agri-businesses.

On our part, we have started revamping the Agricultural Land Holding Authority (ALHA) to support investment in agriculture. We will also strengthen the coconut belt with increased private sector involvement.

I am greatly encouraged by the interest already generated in the 5-Year Agricultural Roadmap and I hope it will be sustained and backed with concrete action on the part of our development partners and the international community. I assure you that the Lagos State Government is putting in place deliberate incentives to make your investment safe, secure, and profitable.

Ladies and Gentlemen, I am excited about the wealth we will generate from our fecund land and coastal resources. The next five years will be productive, competitive, and transformational as Lagos State implements its agricultural roadmap. We are set to become the nation’s agricultural powerhouse, and I invite you to join us to make history.

Before I end, let me highlight some of the landmark investments and projects that will help us deliver on the Roadmap:

1. The Lagos State Aquatic Centre of Excellence (LACE) which will boost fish production from 20% to 80% and provide employment for over 12,000 fish farmers both directly and indirectly when in full operation;

2. The Imota Rice Mill, which is being funded through the CBN’s ?8Bn concessionary loan. Upon completion, the rice mill will create over 250,000 direct and indirect jobs; and

3. The Lagos Food Production Centre Avia, Igborosu-Badagry and other state-wide agriculture focused initiatives, which will produce 100,000 jobs both directly and indirectly.

Potential and established stakeholders in the agricultural sector are encouraged to partner with us in the aforementioned areas. I urge you to collaborate with us to transform our agricultural sector for food security, wealth generation, poverty eradication, economic diversification, rapid industrialization, and accelerated socio-economic growth.

Distinguished Ladies and Gentlemen, it is my honour to launch the Lagos State 5-year Agricultural and Food Security Roadmap for the benefit of all.

Thank you for your kind attention.

God bless us all.

Igbega Ipinle Eko, Ajumose Gbogbo Wa Ni!

Mr. Babajide Olusola Sanwo-Olu

Governor of Lagos State

Thursday, 22nd April, 2021

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National Grid Collapses 105 Times In 10 Years Despite $1.4bn Loans..

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Despite the huge investment in the power sector, the national grid collapsed about 105 times under the administrations of President Bola Tinubu and his predecessor, Muhammadu Buhari, The PUNCH reports.

Findings on penultimate Sunday showed that Nigeria secured about 10 loans worth $4.36bn from the World Bank over the past decade to address key challenges in its power sector.

 

Although not all 10 World Bank loans have been disbursed completely, the Federal Government and other multilateral agencies have supported the country’s power sector financially.

They have provided billions of naira to revamp the industry but despite these funds, the sector is still struggling, witnessing incessant grid collapses, which has repeatedly plunge the country into widespread blackouts.

Both Buhari and Tinubu, members of the All Progressives Congress, promised to turn things around positively in the power sector.

 

However, it appears the challenges of the power sector overwhelmed the Buhari administration, which took over former President Goodluck Jonathan of the Peoples Democratic Congress.

Data obtained from different sources, including the Nigerian Electricity Regulatory Commission, showed that the grid collapsed approximately 93 times during the eight-year rule of Buhari, from June 2015 to May 2023.

The national power grid, according to NERC, is a vast network of electrical transmission lines that link power stations to end-use customers across the country and it is designed to function within specific stability boundaries, including voltage (330kV ± 5.0 per cent) and frequency (50Hz ± 0.5 per cent).

“Any deviation from these stability ranges can result in decreased power quality and, in severe cases, cause widespread power outages ranging from a partial collapse of a section of the grid to a full system collapse.

“When the electricity demand is higher than the supply, the grid frequency drops. Conversely, if supply surpasses demand, the frequency increases. In reaction to the grid operating at a frequency outside of the normal operation range (especially when the frequency is too low), safety settings on generation units may cause the units to shut down.

“This often exacerbates the frequency imbalance on the grid thereby causing more generation units to shut down resulting in a full or partial system collapse,” the regulator explained.

The PUNCH reports that anytime the grid collapses, the majority of electricity consumers are thrown into darkness, affecting businesses and social activities.

 

Industry data showed that under Buhari, the grid collapsed three times in 2015, 28 times in 2016, 24 times in 2017, 13 times in 2018, and 11 times in 2019.

The grid frequency appeared to improve from 2020 to 2023 as the grid collapsed 14 times within this period until Buhari vacated office on May 29, 2023.

 

It was observed that the Tinubu administration carried on with the grid collapse cases, with three of such incidents occurring between June and December 2023.

Nigerians endured more nationwide blackouts on September 14, 2023 when the grid collapsed due to a fire on a major transmission line.

 

On September 20, 2023, The PUNCH reported that Nigeria witnessed another round of widespread blackouts across the country the preceding day as the national power grid collapsed again, making it the third grid collapse in about five days during that period.

 

Since January 2024 till date, the grid has collapsed about nine times. Last week, the grid collapsed three times with its attendant blackouts, sparking reactions from Nigerians. As of now, the Tinubu administration has recorded no fewer than 12 collapses in 16 months.

 

On Saturday, the national grid collapsed – third in the week – as power generation went off around 8:16am. This was after the grid tripped off on Monday. It went off again on Tuesday when it was being restored.

 

Nigeria secured about 10 loans worth $4.36bn from the World Bank over the past decade to address the power sector challenges.

The loans, which are aimed at supporting infrastructural development, distribution reforms, and renewable energy initiatives, are at different stages of progress.

While some are still disbursing, others have been signed but are yet to begin disbursement. However, one loan approved in 2014 has been terminated.

Findings by The PUNCH from data sourced from the global financial institution revealed that four loans, amounting to $2bn, have been signed but are yet to disburse any funds.

These include the Sustainable Power and Irrigation Project, valued at $500m, which was signed in September 2024, and three components under the Nigeria Distributed Access through Renewable Energy Scale-up Project, totalling $750m, approved in December 2023.

Five loans are actively disbursing funds, though large portions of their allocations remain undrawn.

 

 

 

These include the Power Sector Recovery Performance-Based Operation, the North Core Regional Power Interconnector, the Nigeria Electrification Project, and the NG-Electricity Transmission Project.

Together, these projects represent $2.06bn, or 47.25 per cent of the total loan portfolio.

Out of the five loans currently under disbursement, Nigeria is already making repayments on three of them.

One example is the Nigeria Electrification Project, which has disbursed $269.67m from a total allocation of $350m.

Similarly, the North Core Regional Power Interconnector has released $15.74m from a $27.4m facility. The NG-Electricity Transmission Project, with two components worth $486m, is also disbursing funds while repayments are ongoing.

These projects reflect the country’s efforts to balance loan repayments with the need for critical infrastructure investment.

One project has been terminated. The Nigeria Power Sector Guarantees Project, initially valued at $125m, was cancelled on May 1, 2014, without any funds being disbursed.

 

The terminated project was aimed at improving electricity supply for consumers by supporting private sector-led investments in power generation and distribution.

It was designed to back key reforms in Nigeria’s power sector through a series of partial risk guarantees.

These guarantees were intended to support three key areas: greenfield Independent Power Producers’ projects, the privatisation of Generation Companies, and the turnaround of distribution companies.

However, this project was terminated, and nothing was disbursed by the World Bank. There was no available information on the reason for the termination.

The PUNCH learnt that World Bank loans were usually tied to targets, and failure to meet such targets would either lead to a delay in disbursement or outright cancellation of the loan.

Despite the World Bank’s funding support over the years, delays in disbursement remain a significant concern, as $2.96bn of the total $4.36bn are still undisbursed.

The largest disbursement so far has been recorded under the Nigeria Electrification Project, which focuses on improving rural and off-grid energy access. So far, $269.67m has been released from the $350m earmarked for the project.

 

 

 

Notably, a substantial portion of the loans was secured under President Tinubu’s administration, highlighting the government’s renewed push to revitalise the country’s energy sector.

Since Tinubu assumed office in May 2023, the World Bank has approved new electricity loans over $1.901bn, representing 44 per cent of the total loan portfolio over the decade.

In December 2023, Tinubu’s government secured $750m for the Nigeria Distributed Access through Renewable Energy Scale-up Project, a move aligned with the administration’s focus on expanding renewable energy.

Also, the Sustainable Power and Irrigation Project, valued at $500m, was signed in September 2024 to enhance power generation and agricultural irrigation.

While the loans reflect a strategic commitment to addressing Nigeria’s energy deficit through renewable energy and infrastructure development, the slow pace of disbursements raises questions about project implementation and the government’s ability to unlock the full potential of these funds.

Despite the loans, the Nigerian power sector still suffers incessant blackouts, metering gaps, and low access to electricity, especially in rural areas.

Many industries, small businesses, and companies, among others, have collapsed as a result of the poor supply of electricity in Nigeria. This is despite the privatisation of the successor power generation and distribution companies in November 2013.

Nigeria’s power firms generate and supply between 3,500 megawatts and 5,500MW of electricity to over 200 million citizens across the country.

There is the issue of low power supply. For instance, the grid delivers only 1,000MW to a city of 25 million people. By contrast, Shanghai, with roughly the same population, supplies more than 30,000MW at peak demand.

Consumers kick

In an interview with one of our correspondents, the Convener of the Electricity Consumer Protection Advocacy Centre, Princewill Okorie, expressed worry that electricity customers, especially those on estimated billing, continued to pay for darkness as the grid kept collapsing.

Okorie alleged that substandard equipment must have been used for power infrastructure.

According to him, the Nigerian Electricity Regulatory Commission and the Ministry of Power pay more attention to the distribution companies and their revenue, ignoring the rights of the consumers, especially in the area of metering.

He challenged the Federal Competition and Consumer Protection Commission, asking what it had been doing to protect electricity consumers.

“What is the Federal Competition and Consumer Protection Commission doing? Are they not the ones to understand the challenges of consumers and raise them? Rather than do that, they play to the hands of the Discos,” Okorie said.

He added, “Consumers don’t have electricity supply after you’ve raised their bills to over N200 per kilowatt-hour as Band A customers. Then, those who are not metered will be billed as if they have power supplies for 24 hours. The consumers are at the receiving end in all of these; their businesses have collapsed. How will they make money? The same consumer that is funding infrastructure; the same consumer that is funding metering, the same consumer that is paying the bill?

“What is the quality of materials used in building the grid? Who are the professionals that are building the grid? How can the grid be stable when transformers are connected to the grid at the weekend and at night without supervision? When substandard materials are being used all over, how can you build a grid that is stable?”

He suggested that stakeholders had to proffer solutions, with a monitoring committee to oversee happenings in the power sector.

“No representation for the consumers at the ministry; the consumers are seen as cash cows, their views are not sought,” Okorie submitted.

Also, consumers in the Federal Capital Territory called for the dismissal of personnel responsible for managing the grid.

According to a report by the News Agency of Nigeria, consumers residing in Kuje, Area 10, Gwagwalada, and surrounding areas voiced their frustrations over the frequent grid failures, urging the government to replace those overseeing it.

 

They expressed their weariness of repeated grid collapses and insisted that the government sacked the current managers.

A resident of Kuje, Bisi Afolabi, believes those responsible for managing the grid are not capable of handling the job.

According to him, since the grid frequently collapses, the government should dismiss those in charge and hire competent personnel.

Similarly, a barber, Samuel Maduka, expressed his disappointment with the grid’s management..

“The government should address this issue of constant grid collapses. If it means sacking everyone involved to resolve it, then so be it,” Maduka remarked.

Mrs Uduak Essien, a cold room owner in Gwagwalada, pointed out that despite the significant investments in the power sector, the grid continued to collapse.

“If the people in charge are not competent, they should be replaced with those who can manage the grid effectively,” she urged.

Public hearing

Baffled by the repeated cases of grid collapse, NERC is set to hold a stakeholders forum on Thursday.

The commission said the public hearing was in line with Section 48, subsection 1 of the Electricity Act 2023 (Amended).

According to a statement on its social media handles on Sunday, NERC stated that the hearing would be held at its Hearing Room, Fourth Floor, Plot 1387, Cadastral Zone A0O, Central Business District, Abuja, by 10 am prompt.

“In line with Section 48, subsection 1 of the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission is mandated to conduct public hearings on critical issues relating to the Nigerian Electricity Supply Industry.

“The commission has noted with concern the recent escalating incidence of grid disturbances often leading to marked outage in several states thus reversing many of the gains recently achieved in reducing infrastructure deficit and improving grid stability.

“In this regard, the commission hereby invites NESI stakeholders, civil society organisations, and the general public to a hearing.”

 L

NERC, in a similar development, expressed worry over the recent escalating cases of grid disturbances.

NERC said the incidents often led to marked outages in several states thus reversing many of the gains recently achieved in reducing infrastructural deficit and improving grid stability.

In a statement, the commission disclosed that Saturday’s outage was triggered by an explosion of a current transformer at the Jebba transmission station at 0815hrs and an associated cascade of power plants’ shutdown arising from the loss of load.

It added, “In line with the provisions of the Electricity Act 2023, the unbundling of the System Operator function (ISO) out of the Transmission Company of Nigeria Plc is ongoing with the expectation that an independent System Operator would engender more discipline in grid management and optimised investment in infrastructure.”

In pursuit of finding a permanent solution to the challenges of the national grid, the commission said it shall shortly conduct an investigative public hearing with a view to identifying immediate and remote causes of recurring incidents of grid disturbances and widespread outages.”The date and venue of the public hearing will shortly be announced in the national dailies and stakeholders are encouraged to participate,” NERC added.

 

Regional grids

The Minister of Power, Adebayo Adelabu, said last week that there was the need to have power grids in different regions or states to put an end to the incessant grid collapses.

The minister, who spoke while unveiling Hexing Livoltek in Lagos, said grid collapses were almost inevitable in Nigeria given the deplorable state of the country’s power infrastructure.

According to him, having multiple power grids in each region and state would ensure stability.

“We keep talking about grid collapse. Grid collapse, grid collapse, whether it’s a total collapse, partial collapse, or slight trip-off. This is almost inevitable as it is today, given the state of our power infrastructure, the infrastructure is in deplorable conditions, so why won’t you have trip-offs? Why won’t you have collapses, either total or partial? It will continue to remain like this until we can overhaul the entire infrastructure. What we do now is to make sure that we manage it,” he said.

The International Energy Agency said Nigeria’s grid continues to face issues due to aged infrastructure and vandalism.

Deterioration of power infrastructure increased dependency on backup generators for 40 per cent of electricity consumption in Nigeria.

In a report released recently, the NERC expressed concerns over the low overall availability factor of the 27 power plants in the power supply industry in Nigeria, saying the largest driver of plant unavailability in 2023 was mechanical outages.

“Approximately 38.04 per cent (4,802.80MW) of the total installed capacity of grid-connected plants was unavailable due to mechanical outages in 2023.

 

“The age of many of the power plants (as of December 31 2023, the average plant in the Nigeria Electricity Supply Industry is 21 years old) and challenges with the maintenance of generating units are the biggest driving factors behind the mechanical outages,” the report stated.

Other contributory factors to the challenges in the industry include a lack of liquidity at the upstream segment of the NESI, caused by the gross underpayment of generation companies’ invoices by distribution companies (market shortfall) and the government (unpaid subsidy costs).

“Without sufficient cash flows, GenCos cannot maintain their generation units, leading to extended outages. The liquidity challenges have also prevented operators of the privatised generation assets from recovering capacity that had been inoperable before privatisation,” the commission noted, listing gas supply as another major hindrance in the sector.

In 2023, the gross generation on the national grid was 36,710.38 gigawatt-hours, which translates to an average hourly generation of 4,190.68MWh/h (equation 7.2), the NERC disclosed.

In its recommendation, the commission said, “To manage the overall availability of plants on the grid, the System Operator must implement the provisions of section 22.3 of the Grid Code on scheduling outages in a way that does not put the grid at risk of low gross availability.

“Furthermore, Gencos must engage with the gas subsector to align outages on the gas infrastructure (e.g. pipeline maintenance activities) with planned plant outages.

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Profile of Ministers-Designate…

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Dr Nentawe Goshwe Yilwatda (Minister-designate Humanitarian Affairs  and Poverty Reduction ) was born on the 8th of August, 1968 in Dungung, Kanke Local Government  in Plateau State, to the family of a clergy, the  late Rev and Mrs Toma Yilwatda.

He was Plateau State governorship candidate of the All Progressives Congress (APC) in last year’s election.

He got his First Degree in Electrical/Electronic Engineering in 1992 from the Federal University of Agriculture, Makurdi and his Master of Engineering and PhD from the Abubakar Tafawa Balewa University, Bauchi and the University of Nigeria, Nsukka respectively, majoring in Digital systems engineering.

He received training on Building Electronic Governance Structure at the United Nations University International Institute for Software Tech., Macau, China.

He has served as project consultants on the first Integrated Financial Management Information System for the Ministry of Finance, CBN, FOS, OAGF, Debt Management Office, OAuGF, National Planning Commission and Budget Office.

He was also part of the team that worked on the grant by World Bank to implement a Unified Network and ICT Solution for Nigeria Education and Research Network (NgREN) through the World Bank STEP-B project.

Mohammed Maigari Dingyadi (Mnister-Designate Labour and Employment)  was born in 1953 in Dingyadi, Sokoto State. He had his Secondary Education at Government College, Sokoto and attended the School of Basic Studies for a two-year course. He is a 1978 graduate of the Ahmadu Bello University, Zaria.

He represented Bodinga Federal Constituency at the House of Representatives.

He was one time, the Secretary to the Sokoto State Government and Chairman, National Commission for Colleges of Education (NCCE) Abuja.

He was appointed the Minister of Police Affairs in 2019 by former President Muhammadu Buhari.

Bianca Odinakachukwu Olivia Odumegwu-Ojukwu (Minister of State-designate, Foreign Affairs), born 5 August 1968, is a politician, diplomat, lawyer, business woman and  former beauty queen..

The widow of former Biafra leader, Chukwuemeka Odumegwu Ojukwu, she is a multiple international pageant titleholder, having won Most Beautiful Girl in Nigeria, Miss Africa, and Miss Intercontinental.

She attended Ackworth School, Pontefract, St Andrews College, Cambridge, and Cambridge Tutorial College where she obtained her A-levels. She began a combined honours degree in Politics, Economics and Law at the University of Buckingham, but transferred to the University of Nigeria, Nsukka after her father, insisted she concentrated solely on Law and join the family business.

In 2016, she received a master’s degree in International Relations and Diplomacy from Alfonso X el Sabio University in Spain.

In 2011, Mrs Odumegwu-Ojukwu was appointed Senior Special Assistant on Diaspora Affairs by President Goodluck Jonathan.

She became Nigeria’s Ambassador to Ghana and later, Ambassador to the Kingdom of Spain in 2012.

Dr. Jumoke Oduwole (Minister-designate  Industry, Trade and Investment)  is an academic, former government adviser, and advocate. She is currently a Senior Fellow at the Harvard Kennedy School of Government Mossavar-Rahmani Center for Business and Government.

Prior to this, she served as Special Adviser to President Buhari on Ease of Doing Business from August 2019 to May 2023.

Before her appointment to this role, Dr. Jumoke was Senior Special Assistant to the President on Industry, Trade & Investment in the Office of the Vice President. Her team was responsible for Nigeria moving up an unprecedented 39 places in the World Bank’s flagship Doing Business Report.

Dr. Oduwole  led a corporate banking unit of the telecommunications sector team in Guaranty Trust Bank Plc’s Corporate Banking Group. She was an investment banker with FCMB Capital Markets Ltd from 2000 to 2003.

She was on the boards of Ecobank Nigeria Plc and Positive Action for Treatment Access (PATA), a leading HIV/AIDS  advocacy NGO; as well as the Advisory Board of the “Know Your Constitution” Initiative, a civil liberties movement pioneered by a United Nations Young Ambassador for Peace.

Dr. Oduwole  graduated from University of Lagos with a Bachelor’s degree in Law in 1998 and was called to the Nigerian Bar in 1999.

She obtained an LL.M. degree in Commercial Law from Cambridge University in 2000, where she was a DFID-Cambridge Commonwealth Trust Scholar. In 2007, Dr. Oduwole received a master’s degree in International Legal Studies from Stanford University and obtained her doctorate degree in International Trade and Development from Stanford Law School.

Mukhtar Maiha is the Managing Director of Zaidi Farms Limited. If cleared he will be the pioneer minister of Livestock Development.

Yusuf Abdullahi Ata (Minister-designate Housing and Urban Development) was born on the 22nd June, 1962 at Fagge Local Government of Kano State. He started his Quranic education at the age of three and later began his western education in 1968 at Fagge Primary School.

He attended the Kano Community Commercial College, which is now called Aminu Kano Commercial College for his secondary education. He obtained a degree in Economics from the Bayero University, Kano.

Ata was first elected as member, Kano State House of Assembly to represent Fagge constituency in 1999. He served for three terms after winning elections in 2011 and 2015.

Ata became Speaker, Kano State House of Assembly in 2021 when the former Speaker, Kabiru Alhassan Rurum, resigned, following attempts to impeach him.

Dr Suwaiba Said Ahmad (Minister of State -designate  Education) is a trained educationist, gender advocate and consultant. She served in various capacities in the  university including level coordinator, examination officer, PG coordinator, Sub Dean Academics, and Head of Department, Science Education.

Her consultancy portfolio centres on governance and development. Dr Ahmad  research interests  focuses around political economy and institutional analysis, policy planning, development and strategy, capacity building and training.

She  has participated in funded researches as a consultant, including for the British Council (won a research grant in 2015 as team lead), Education Data, Research and Evaluation in Nigeria (EDOREN), Partnership to Engage, Reform and Learn (PERL) and Aafaaq Educational Foundation.

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Cut Down on ‘Wasteful Expenditures’ Under Your Watch, World Bank Tells Tinubu

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The World Bank has ranked the Nigerian government as weak in terms of cutting wasteful expenditures.

 

According to the World Bank’s Nigeria Development Update seen by SaharaReporters, the global financial institution said the current administration led by President Bola Tinubu must start “cutting wasteful expenditures that are not essential such as purchase of vehicles, external training, among others”.

 

Reports of how the Tinubu-led administration spent billions on purchase of SUVs had made the rounds.

 

For instance it was reported that the Tinubu administration spent N9.2billion in three months to purchase State House vehicles.

 

Another report had noted how the Tinubu-led government paid N250 million for decorations within five days for First Lady events.

 

 

The Tinubu government also spent another sum of N14 billion on renovations, honorariums and purchase of forex despite the economic hardship facing the country.

 

There have been concerns over financial transparency and accountability by the Tinubu-led administration especially with management of the country’s stated scarce resource as a point of concern.

 

Recently, the Tinubu administration bought a Presidential jet quoted to cost N150 billion.

This development is even as Nigeria continues to lament scarce resources, banking on loans to fund its deficit and in the process incurring high debt servicing figures.

 

 

The Senior Vice President of the World Bank, Indermit Gill, had recently said the President Bola Tinubu-led Nigerian government must sustain the current economic “reforms” for “at least another 10 to 15 years to transform its economy.”

 

He had spoken at the 30th Nigerian Economic Summit in Abuja on October 14, and also attracted discontentment from several quarters in the country.

 

 

 

Sahara Reporters.

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