LCCI: Tinubu’s New Year Speech Projects Critical Themes Crucial to Nation’s Growth

•Says they can help achieve $1trn economy 

•Kalu insists president’s tax bills, economic reforms necessary for transformative increase 

•NNPP maintains policies inflicting hardship

Sunday Aborisade in Abuja, Dike Onwuamaeze in Lagos and Ahmad Sorondinki in Kano

The Lagos Chamber of Commerce and Industry (LCCI),yesterday, described President Bola Tinubu’s New Year speech as boasting critical themes relevant to the nation’s growth.

It said the themes were such that could even help Nigeria achieve her goals of becoming a $1 trillion economy through more collaborations with the international community and improving the country’s business environment. 

These critical themes, it added, included the announcement of National Credit Guarantee Company, President’s desire to work more collaboratively with the international community and his focus on ethical citizenship and shared values.

At the same time, the Chairman, Senate Committee on Privatisation, Senator Orji Uzor Kalu, has said the economic reforms of the president, particularly, his tax reform bills, were necessary steps taken to yield positive results for transformative growth.

But the Chairman of the New Nigeria People’s Party (NNPP), Hashim Suleiman Dungurawa, has criticised the policies of the Tinubu administration as anti-people, saying they’ve been inflicting pains on the people.

In a response by the Director General of LCCI, Dr. Chinyere Almona, the institution reiterated her concerns about the consistency of policies and the reforms currently being driven by the government.

Almona said: “The National Credit Guarantee Company announcement represents a critical step toward unlocking access to credit, particularly for women, youth, and small-scale enterprises.

“If implemented effectively and efficiently, it can boost demand for goods from agro-producers and industries, and this can improve the capacity utilisation of manufacturers and the capacity to create more jobs in the mid-term.

“We, however, emphasise the need for swift operationalisation and a transparent framework to avoid bureaucratic bottlenecks,” noting that the president’s desire to work more collaboratively with the international community was a good idea.

She added that for Nigeria to really explore inherent opportunities in international relations, it must do more to create an enabling business environment attractive enough to boost the country’s share of Foreign Direct Investments this year.

“All our diplomatic efforts should be geared towards boosting foreign trade, especially when we can boost our non-oil exports to the levels of recording trade surpluses in 2025.

“We need critical investments in the telecommunications sector to boost the digital transformation agenda of this government.

“Similarly, the Compressed Natural Gas (CNG) initiative requires huge investment in infrastructure. Both digital transformation and energy transition are quite critical to achieving the level of industrialisation required to power a one trillion economy,” Almona said.

The LCCI further noted that the president’s focus on ethical citizenship and shared values underscored the role of social cohesion in nation-building.

It, therefore, said the upcoming National Values Charter and Youth Confab were commendable efforts to galvanise citizens and foster patriotism.

“For the business community, a stable and cooperative societal framework is foundational for sustained economic activity.

“Beyond the show of commitment to a charter of shared values, we believe that the rule of law remains the most important guarantee of human rights protection and the best template for justice and fairness in a democratic state,” the chamber said.

It urged the government to do everything within its means and power to institute a culture of avoiding controversies and uncertainties by charting a sure path for policies, regulations, and budget implementation.  

Kalu: Tinubu’s Reforms Necessary for Growth

Senate Committee Chairman on Privatisation, Senator Orji Uzor Kalu, has said the economic reforms of President Bola Ahmed Tinubu, and particularly, the landmark tax reforms bills, were necessary steps taken to yield positive results for transformative growth.

The ranking senator, representing Abia North Senatorial District in the National Assembly, explained that the revamping of the nation’s laws, some of which were over 100 years old, was imperative and inevitable.

He argued that some of the legislations were obsolete and ineffective to meet the expectations of the current global economic realities.

The former Abia State governor, according to a statement from his media office, stated these at the Igbere home of a former Abia governorship aspirant of the All Progressives Congress (APC), Chief Daniel Eke.

Speaking of the tax reform bills, Kalu commended Tinubu and described his move as a bold step.

He, nevertheless,  advocated wider consultations, faulting its mode of introducing the proposed  legislations to the National Assembly, because according to him, Nigerians were not sufficiently educated before the bills was introduced.

He said for Nigeria to make any meaningful progress like China, the 36 states must be made to compete among each other.

“Tinubu is a courageous leader, who took the bull by its horns. I’m not saying this out of sycophancy to gain any favours as you all know I’m an accomplished politician and business entrepreneur.

“We need to give the president a chance to carry out these reforms and the tax reform is not a bad bill, it is progressive but the problem is that Nigerians were not lectured enough and lack orientation about its many benefits.

“The Tax Reform Bills are not bad but we need to carry other regions along. The other regions need to be educated on what the Tax Bill is all about.”

Kalu admitted the sufferings of Nigerians and commended them for their patience, expressing optimism that 2025 would be a year of positive outcomes from the Tinubu-led government’s economic policies.

NNPP: Tinubu’s Policies Inflicting Hardship

Chairman of the New Nigeria People’s Party (NNPP), Hashim Suleiman Dungurawa, has criticised the policies of President Bola Tinubu’s government, and describing them as anti-people, because of the hardship they are inflicting on the people.

Speaking to journalists, yesterday, Dungurawa urged Tinubu to reconsider his administration’s policies or risk being voted out in the 2027 general election.

“With these harsh, anti-people policies, and your refusal to reconsider, prepare for defeat in the next general election. Either you change them, or we Nigerians will change you.

“From the podium on May 29, 2023, President Tinubu began rolling out anti-people policies. It’s as though Nigerians offended him, as these policies have continued relentlessly.

“With these issues, and many others caused by the APC government, it’s only a matter of time before we ensure Tinubu is voted out in 2027. Kwankwaso, a true democrat, will step in to lead,” Dungurawa stated.

He, however, urged the federal government to focus on implementing policies that alleviate the suffering of Nigerians and to refrain from introducing measures that contradict the aspirations of the people.

On the criticism against the party’s National leader, Rabiu Musa Kwankwaso, he described him as a “true democrat” who never joined a ruling party, but rather defected from a ruling party, the PDP, and spearheaded the formation of the APC, which captured power in 2015.

“So, certainly Kwankwaso is not a political refugee as claimed by the APC. He is a true democrat that fights injustice and misrule and brings change to Nigeria,” he said.