We Can't Abandon You, PDP Promises Sacked 16 Plateau State Lawmakers
The National Working Committee (NWC) of the Peoples Democratic Party (PDP), yesterday, pledged support for the 16 lawmakers of the Plateau State House of Assembly sacked by the Court of Appeal last November.
The support which was to boost the morals of the 16 Lawmakers was disclosed by the National Publicity Secretary, Debo Ologunagba, in a interview with THISDAY.
Ologunagba while responding to a question, said, "We cannot abandon them. The party is with them body and soul. This was why we called for a review of the judgement of the judgement of the court of appeal.
“We will follow due processes and the PDP as an organic party growth and sustainable economic development'.
“The work has already started, internally within the bank and across the banking industry, and we are committed to rebuilding an institution that is trusted and respected and promoting confidence in the economy.”
Cardoso stated, “Additionally, the NESG economic transformation roadmap delineates three distinct phases: Stabilisation, Consolidation, and Acceleration, with sequential steps and policy priorities aimed at fostering robust and sustainable economic transformation. The identification of potential ‘Inflection Points' is crucial for strategic decision-making.
“This is also commendable, as I believe we are as a nation at the point of stabilisation. If the goals of the Stabilisation Phase are achieved, they will have a significant and immediate impact.
“This phase is focused on stabilising macroeconomic indicators such as inflation rate, GDP growth, fiscal balance, and exchange rate, which are essential for steering the country towards economic recovery and laying the groundwork for long-term economic transformation.”
Meanwhile, NESG called on the federal government to pursue an economic transformation agenda that would propel sustained high economic growth for the country.
In its macroeconomic outlook for 2024, Chief Executive Officer of NESG, Dr. Tayo Aduloju, said, “In the NESG Macroeconomic Outlook for 2024, we underscore the importance of the government pursuing an economic transformation agenda to propel sustained high economic growth.
“The report presents a roadmap with step-by-step and phased approaches to reforming the economy to achieve economic transformation over the short to medium term. that knows the value of due processes will follow this matter to its logical conclusion.
"You don't expect me to disclose what we are doing in support for them to reclaim their mandate, but remember we have earlier before the judgement of the Supreme Court called for the disbandment of this court of appeal election petition tribunal?
“So, we cannot abandon them. We in the PDP believe that it's the duty of the electorate to elect
“This underscores the urgent responsibility of the government, necessitating unwavering efforts to drive economic transformation and establish the groundwork for a lasting economic evolution that aligns with the people's aspirations and enhances their standard of living.”
Chief Economist of NESG, Dr. Olusegun Omisakin, who gave an insight into the outlook, said the report delved into the state of the Nigerian economy in 2023, and outlined a strategic plan for its transformation over the medium term.
Omisakin said the document was structured into three main parts, which offered an understanding of the current economic landscape, the proposed roadmap, and projections for 2024. He said the report laid the groundwork for understanding the context in which the proposed economic transformation roadmap would be implemented.
Omisakin stated, “By combining a thorough analysis of the current economic state, a strategic roadmap, and future projections, this report aims to guide policymakers, business leaders, and other stakeholders in steering the Nigerian economy towards a trajectory of stability, consolidation, and, ultimately, acceleration.”
He added that “Economic Transformation Roadmap: MediumTerm Policy Priorities” was broken into three phases, identified as the stabilisation, the consolidation and the acceleration phases that articulated the sequential steps and policy priorities for achieving a robust and sustainable economic transformation.
The NESG outlook for the Nigerian economy projected a real GDP growth of 3.50 per cent and an average inflation rate of 21.5 per cent in 2024, from an estimated average of 24.5 per cent in 2023.
It hinged its projections on the public office holders and not the judiciary. We are on this matter and PDP cannot abandon them," Ologunagba stressed.
Meanwhile, one of the sack lawmakers, who represented Langtang North-North, Joseph Langyi, has said he would not be leaving the state's House of Assembly because he had to protect the mandate that was given to him by the voters of Plateau state who believed in him.
In an interview with ARISE assumption of a global crude oil price averaging $90/barrel, notably higher than the proposed $77.96/ barrel delineated in the 2024 budget.
It stated that stemming oil theft would boost the country's crude oil production to 1.75 million barrels per day in 2024 while limited CBN's intervention in the FX market would foster an increase in the country's foreign reserves to approximately $40 billion by the close of 2024.
“Consequently, the official exchange rate is expected to reach N900/US$, signalling a positive trajectory,” NESG stated.
NESG also said Nigeria was currently at a crucial intersection that would demand bold and decisive actions to propel economic transformation and, therefore, called for a defined economic philosophy.
The report said, “The urgency of Nigeria's economic transformation is not just a wish; it is an imperative to unlock the nation's latent potential and ensure a prosperous future for all citizens.
“For the current administration steering the country, the year 2024 represents a transformative window, offering an opportunity to guide the nation towards an inclusive and resilient economic trajectory.
“Piloting the country through the economic transformation journey demands strategic planning and rigorous policy implementation on the one hand. On the other hand, substantial investments and unwavering commitment from the private sector will help to foster lasting and fair economic development.”
NESG stated that the stabilisation phase would be directed at addressing the instability of macroeconomic indicators, such as inflation rate, GDP growth, fiscal balance, and exchange rate, in order to steer the country towards economic recovery, which it said was “an essential starting point for the medium-term economic
NEWS, Langyi spoke regarding the situation, saying he was waiting on the judiciary to solve this issue as he would protect his mandate.
“This mandate was given to me by the majority of votes cast at the 2023 January election. And three people will just sit down there and decide to say that I'm no more the member. I have to protect the mandate given to me by my people, because they believe in me,” he said.
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transformation journey”.
The consolidation phase would activate growth factors and enablers, including liberalisation reforms, institutional development and strengthening, policy and regulatory harmonisation, and investment promotion, while the acceleration phase would outline imperatives for triggering long-term economic transformation, NESG stated.
It said, “Economic stabilisation is a foundational requirement for fostering sustainable economic growth. As evidenced by the development experiences of many countries, economic stabilisation establishes an environment conducive to enhanced productivity and propels rapid economic growth and social improvement.
“Therefore, a stable macroeconomic environment is a crucial starting point for attaining high investment levels and supporting infrastructure development, promoting job creation and improved living standards within an economy.”
The macroeconomic outlook stated, “The country needs at least a 7.5 percent annual growth rate to outpace population growth and address the backlog of prosperity due to sluggish growth in recent years.”
It added, “Achieving robust industrial and manufacturing sector growth at over 8.0 per cent annual growth rate would help attain this high economic growth.”
It also emphasised the need for massive job creation, saying it requires “substantial growth in the industrial and manufacturing sectors to drive industrialisation and create employment opportunities to address Nigeria's unemployment issues”.
NESG further stated, “All sectors, not just industrial and manufacturing, should contribute to prosperity by achieving a minimum growth rate of 5.0 per cent.”