The Federal Government on Thursday approved the Medium-Term Expenditure Framework for 2025 – 2027 and Fiscal Strategy Paper.

According to the MTEF, the proposed 2025 budget size is N47.9tn, with new borrowings of N9.22tn, the Minister of the Budget and Economic Planning, Abubakar Bagudu, told State House Correspondents after this week’s Federal Executive Council meeting at Aso Rock Villa, Abuja.

Bagudu announced, “The Federal Executive Council approved a memorandum by the Ministry of Budget and Economic Planning, which was presented by the Director-General of the Budget Office [Mr Tanimu Yakubu] on the Medium-Term Expenditure Framework and Fiscal Strategy Paper for 2025 – 2027.”

The disclosure comes after weeks of delay as President Bola Tinubu prepares to present the 2025 Appropriation Bill to the National Assembly, his second since assuming office in May 2023.

The MTEF, a critical tool the FG uses to outline its fiscal strategy over three years, establishes macroeconomic assumptions and targets that guide national budgeting.  It also includes projections of key economic variables such as oil prices, exchange rates, inflation, and growth rates.

For the 2025-2027 period, the MTEF sets out parameters, including an oil price benchmark of $75 per barrel, an oil production target of 2.06 million barrels per day, an exchange rate of N1,400 to the US dollar, and a GDP growth rate of 4.6 per cent.

The FG’s projected aggregate expenditure for 2025 is N47.9tn, with planned borrowing of N13.8tn, equating to 3.87 per cent of GDP.

The minister explained, “For the 2025-2027 period, the MTEF sets out parameters including an oil price benchmark of $75 per barrel for 2025, oil production of 2.06 million barrels a day, as well as an exchange rate of N1400 to the dollar and GDP growth of 4.6 per cent.

“It is expected that for 2025, the Federal Government’s budget estimate, the aggregate expenditure is estimated at N47tn, and this includes a borrowing of N13.8tn, which is 3.87 per cent of the estimated GDP.

“The budget size that was approved for presentation to the National Assembly in the MTEF is N47.9tn with new borrowings of N9.22tn to finance the budget deficit in 2025 as well as noting that we need to sustain the commendable market deregulation of petroleum prices and exchange rate, and to compel the Nigerian National Petroleum Corporation Limited to lower its oil and gas production cost significantly, and even to consider the need to amend the relevant sections of the Petroleum Industry Act 2021 to address the significant risk to Federation.”

“The figures were only for 2025, even though there are projections for 2026 and 2027 in the document, which have different figures for the oil price benchmark for the two years,” he added.

Bagudu said Thursday’s memorandum sought the council’s endorsement of the MTEF for submission to the National Assembly, a requirement under the Fiscal Responsibility Act 2007.

The MTEF begins with a macroeconomic overview. It notes that despite global economic challenges, the Nigerian economy is on a positive trajectory, showing two consecutive quarters of growth, with a 3.19 per cent increase in real terms in the second quarter of 2024, the budget minister explained.

However, he acknowledged the need to combat inflation, strengthen economic resilience, support vulnerable populations, bolster high-employment sectors, improve the business climate, and effectively implement youth and social investment programmes.

He revealed that the framework, alongside the FSP, also includes a review of the 2024 budget implementation, highlighting progress in revenue collection and expenditure management, though some targets have fallen short. The report also shows that non-oil revenue streams outperform expectations, Bagudu said.

On the 2024 budget performance, he said, “Actual spending as of August 2024 ending was N16.98tn as against the prorated spending target of N23.37tn at the end.

“Of this amount, N7.41tn was for debt service, and N3.7tn for personnel costs including pension. Further, N3.65tn has been released for capital projects. Most of the delays for capital project release have been earlier legacy issues, in the sense that the new procedure for upload requires a lot of capacity building and delayed uploads.”

N28.75tn was earmarked for the 2024 budget. However, it grew to N35.6tn after amendments by the National Assembly added N6.2tn to the pile.

Responding to queries from journalists, the budget minister said the MTEF would reach the National Assembly on Monday, November 18.

“We are submitting it, I believe, tomorrow [Friday] or, at the latest, on Monday. The office of Mr President will forward the Medium-Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly,” he stated.

The minister also argued that despite the late approval for the MTEF, the FG will maintain the January-December budget implementation cycle.

He affirmed, “We are confident because we have built a respectable relationship with the National Assembly. We have narrowed the areas of misunderstanding. And because of that mutual respect, Mr President is very transparent with the National Assembly leadership. And the National Assembly appreciates that openness.

“He [President] has instructed all his teams to ensure we cooperate with the National Assembly. For instance, the team led by the Coordinating Minister of the Economy has been mandated not only to wait but also to engage the National Assembly and answer all questions at the committee hearings.

“So, I’m confident because of this combination of factors. With this cooperation, I believe we’ll see an expeditious consideration, and immediately we are aware of the approval, we will finalise the budget because the MTEF precedes the budget preparation.”

The Nigerian National Petroleum Company Limited says it has not stopped the importation of petroleum products into the country.

NNPC spokesperson, Olufemi Soneye, disclosed this in a statement on Thursday.

Soneye said the state-owned petroleum company would still source for products from outside the country when there is a need for that.

Soneye confirmed that the Group Chief Executive Officer of the NNPC, Mele Kyari, said at the Nigerian Association of Petroleum Explorationists conference that the company is not importing fuel anymore but taking from local refineries.

While saying Kyari’s statement was correctly quoted in the news report, Soneye said the GCEO, who spoke extempore for several minutes, was misinterpreted.

He said, “The GCEO’s statement, ’Today, NNPC does not import any product; we are only taking from domestic refineries’, should not be construed to imply that NNPC Ltd is obligated to be the sole off-taker of any refinery or that we will no longer import fuel. While NNPC prioritises sourcing products from domestic refineries, this is contingent upon economic viability. If local supply is cost-effective, it will be preferred, but the same principle applies to other marketers, who will also evaluate total costs when deciding whether to buy locally or import.”

According to Soneye, economic viability will guide NNPC Ltd in its decisions on whether to source refined petroleum from local refineries or import, noting that Kyari has not announced the end of fuel importation.

He added, “It is also essential to note that the authority to grant import licenses resides with the Nigerian Midstream and Downstream Petroleum Regulatory Authority, as mandated by the Petroleum Industry Act. NNPC Ltd does not have control over more than 30 per cent of the market, as stipulated by the PIA, which aims to prevent monopolies.

“The law promotes a free-market system where competition drives efficiency and cost reduction, ensuring that consumers benefit. Domestic refiners must compete on price and value, as patronage cannot be legislated in a deregulated sector.”

He commended the newspaper for accurately reporting that NNPC Ltd was making significant investments in Compressed Natural Gas infrastructure as part of its broader energy security and affordability initiatives.

While speaking at the conference on Monday, Kyari said, “There are too many claimants out there, that the NNPC does not want to sell crude to the refinery in naira as a form of sabotage. Far from it! It makes no difference to us because if you sell crude to the domestic refinery in naira and you buy the product in naira from the domestic refinery, it’s a net zero gain. You lose nothing, you probably gain nothing. Otherwise, whatever you do, you still have to source foreign exchange to import if you have to import. So, if you stop the import and sell in naira, what you are simply doing is just a substitution. It’s a settlement platform and we must commend the President for bringing this initiative.

“What it will do to our country is that the biggest source of FX pressure in our country is the import of PMS. It’s the highest value. That means if you can take that under control, it means that speculation around the naira to the extent of those FX that is required for domestic product supply will be eliminated. That means speculation will go, you would have controlled inflation, and you would have controlled the FX pressure because you would have settled the exchange rate for 50 per cent of your imports. This is a very great initiative. I should commend the President for bringing this initiative,“ he stressed.

In a final push ahead of Saturday’s election in Ondo State, the Oyo State Governor, Seyi Makinde, has said that the election is a litmus test for Nigerians to demonstrate that their hunger and anger can lead to real change.

He stressed that it is incumbent on the people of Ondo State to turn out in large numbers on Saturday to make a bold statement about their desire for good governance.

According to a newsletter released on Thursday night, titled “It’s Time to Make a Bold Statement,” the Oyo governor said that those who value good governance should vote for the Peoples Democratic Party in the election.

Makinde argued that the PDP is the party that can rescue Nigeria and lift it out of its current economic challenges. He pointed out that evidence from PDP-governed states shows the party’s ability to deliver the development needed across the country.

“Let me begin by encouraging everyone in Ondo State to come out this Saturday and make a bold statement in the Ondo State elections. Let all supporters of good governance stand up and say enough of the APC and its lack of people-centred policies. It is time for Nigerians to rally behind the PDP as the party that can help Nigeria overcome the economic challenges it faces.

“I want to remind you that Ondo State is a litmus test for Nigerians to show that their hunger and anger can bring about real change. Tell everyone you know that the PDP is the party that can rescue Nigeria. If you are still undecided, look at all the efforts being made by PDP governors for their people. Just yesterday, we presented our Budget of Economic Stabilisation.

“As always, it was a people-first budget. Based on data from previous years, there is a 7:10 chance of us successfully implementing the items in the budget. So, the people of Oyo State can expect more infrastructure development, more educational projects, and greater economic progress.

“In conclusion, economically, we look forward to better times in 2025. We just have to keep pushing and making the right decisions in the overall interest of our people and our nation,” Makinde stated.

United Bank for Africa Plc has issued 6,839,884,274 ordinary shares of 50 kobo each at N35 per share in a rights issue to raise N239.4bn in a bid to meet the fresh capital requirements of the Central Bank of Nigeria.

The rights issue which opened on Friday (today) allows existing shareholders to purchase one new ordinary share for every five existing ordinary shares held by shareholders as of November 05, 2024.

In late March, the CBN announced an upward review of the minimum capital requirement for banks in the country.

In a letter to the shareholders informing them of the rights issue, the Group Chairman of United Bank for Africa, Tony Elumelu, noted that following the resolution of the Group’s shareholders at the Annual General Meeting held in May 2024, authorising the establishment of the N400bn Equity Shelf Programme, UBA will embark on a Rights Issue, as the first step in its broader capital raising programme.

“UBA’s Rights Issue aims to raise N239.4bn, through the issuance of new ordinary shares to our shareholders. The primary objective of this rights Issue is to further strengthen our capacity to take advantage of growth opportunities and sustain our leadership in the banking industry,” Elumelu said in the letter.

On the use of proceeds, Elumelu noted that, beyond regulatory compliance, the funds will expand the Group’s lending capacity, invest in digital infrastructure, support sustainable business practices, and expand the group’s African operations.

Elumelu also highlighted how UBA is driving economic growth across Africa, saying “Our historic partnership with the Africa Continental Free Trade Area Secretariat, where UBA pledged up to $6bn in financing over the next three years to support eligible SMEs across Africa underscores our commitment to fostering economic development.”

It was revealed that application for the provisional allotment of the Rights to the new ordinary Shares will be made exclusively through the NGX e-offer portal, during the offer period, while existing shareholders may also apply for additional shares above their provisional allotment as described in the Provisional Allotment Letter. Shareholders who are customers of the Bank are also encouraged to access their Rights through UBA’s internet banking and mobile banking channels.

At the end of the third quarter, the gross earnings of UBA appreciated by 83.2 per cent year-on-year to N2.39tn from N1.31tn in the same period of 2023. Its profit before tax went up by 20.2 per cent to N603.48bn from N502.09bn in Q3 2023, while profit after tax also rose by 16.9 per cent to N525.31bn from N449.26bn recorded a year earlier.

The lender’s total assets rose to N31.80tn, representing a 54.0 per cent increase over the N20.65tn recorded at the end of December 2023.

In the 2023/2024 report year, UBA won ‘Bank of the Year’ awards in eight of its subsidiaries – Cameroon, Chad, Ghana, Cote d’Ivoire, Mozambique, Republic of Congo; Sierra Leone; Tanzania, as well as the Regional Award for Africa and in 2024 has won World Best Frontier Markets Bank and Best SME Bank Africa.

UBA Plc offers banking services to more than 45 million customers, across 1,000 business offices and customer touch points in 20 African countries.

Edo State Governor, Monday Okpebholo, on Thursday, ordered the freezing of all state bank accounts with immediate effect, until further notice.

The governor warned commercial banks, heads of ministries, departments and agencies to comply with the order freezing the account immediately without delay.

The governor also asked the Commissioner of Police to halt the violent cult clashes in the state in 48 hours.

These were disclosed in statements by the Chief Press Secretary to the Governor, Fred Itua, on Thursday. 

In one of the statements, the governor warned that anyone, including heads of MDAs and civil servants who flouted the order on the accounts would be severely punished.

He said, “All bank accounts in all the commercial banks have been frozen. Commercial banks must comply with the order and ensure that not a dime is taken out of the confers of government until there is further notice.

“Heads of ministries, departments and agencies must comply with this order and ensure that there is a full compliance without any further delays.

“After the necessary investigations and reconciliations, the governor will do the needful and decide on the way forward. For now, this order stands.”

The governor asked the relevant government agencies to reverse the Ministry of Roads and Bridges to the Ministry of Works.

Okpebholo said since no bridges or good roads were constructed by the administration of Godwin Obaseki, it was, therefore, absurd to maintain such a name.

He ordered relevant government agencies to implement the new order and immediately reflect the new name.

“It is funny how you can call a government institution the Ministry of Roads and Bridges. Ironically, no single bridge was built by the same administration. Not even a pedestrian bridge.

“In the coming days, we will look at more actions taken by the previous administration and more decisions will be taken that will be done in the best interest of the state.”

On the cult clashes, the governor asked the police commissioner to instruct his officers and men across the various formations to immediately swing into action and halt the unnecessary bloodbath.

The statement read, “As the governor of Edo State, cultism cannot be allowed here. We must end it very fast too.

“I have ordered the Commissioner of Police to halt the madness within 48 hours. All those involved in the killings should be stopped.

“Some associations that are causing trouble in the state, especially in Benin City, cannot be allowed to operate.

“They all remain banned, and the commissioner of police must ensure that his men carry out this instruction by giving teeth to this ban.

“Edo must be safe. That was one of my key priorities during the campaigns and I plan to ensure that we restore it at all costs. We will not fold our arms and allow them to create unnecessary tension.”

Speaking late night on Wednesday, the governor said his traducers tried hard to pull him down but God gave him victory at the September 21 governorship election.

Speaking at a thanksgiving service at the Sam Ogbemudia Stadium, Benin, he also recounted how he found a dead bat on his bed hours before he was declared the winner of the election.

He urged Nigerians to trust in God alone, irrespective of their challenges in life.

In his words, “I want to thank God. In this last election, while I was praising God, they (traducers) were busy operating from Arise. They were busy operating from Facebook. They were busy operating from Channels.

“But, I took the battle to God because I know the secret. A few days before the election, they said this guy (Okpebholo) was crazy when we gathered to praise God in this state.

“They asked, ‘What is he doing?’ They were there at Arise. But, I was listening to the voice of God and I won the battle.”

He said after the election on Sunday morning, he came to his room and met a dead bat on his bed.

“After the election on Sunday morning, I came to my room. I met a dead bat on my bed, without me shooting any arrow. But, the spirit of God was there. The arrow of God; the hand of God delivered me.

“I am grateful to the men of God that stood in the gap. I am grateful to those who believe that with God, all things are possible. And I will advise you to trust in God alone because he will do it for you,” Okpebholo said.

The governor disclosed that he did not consult any native doctor, or prophet or visit any native doctor to seek help throughout the electioneering period.

The thanksgiving worship service had in attendance prominent politicians and clergymen, among others.

Emeka Anyaoku, former secretary-general of the Commonwealth, says the 1999 constitution cannot address the nation’s socio-economic challenges.

Anyaoku spoke on Wednesday in Lagos at the launch of the book titled, ‘The Noble Academic and Patriot: A Biography of Emeritus’, an autobiography by Akinjide Osuntokun, a professor of history and former ambassador to Germany.

The elder statesman argued that the current constitution has failed to accommodate Nigeria’s diverse population and, as a result, impedes national progress.

He emphasised the country’s diversity, asserting that Nigeria’s pluralistic society—comprising distinct groups with varied histories, cultures, languages, and religions—requires a constitution that promotes unity and inclusivity.

“To those who think that the trouble with Nigeria today is the political leadership, I would say that as long as we have the 1999 constitution as our grundnorm, not even Angel Gabriel or Malaikah Jibrin as leaders can successfully tackle the divisiveness, the underperforming economy with the resultant poverty, insecurity, humongous corruption, and the other major challenges currently facing Nigeria,” Anyaoku said.

“The universal lesson is that pluralistic countries which have survived as single political entities in unity and progress are those that addressed their pluralism, that is their diversity, with genuine federal constitutions. Examples of such countries are India, Canada and Switzerland.

“I believe, therefore, that if our pluralistic Nigeria is to achieve true unity and political stability, and to successfully tackle the serious challenges that the country currently faces, it must have a truly federal constitution.

“The divisiveness, the underperforming economy with the resultant massive poverty, the insecurity, the humongous corruption and the other major challenges currently facing Nigeria — my warning, therefore, is that for the sake of preserving our country, the federal government and national assembly should not delay any longer in acting to what is clearly a universal lesson.”

He stressed that a return to the principles underpinning Nigeria’s 1960/1963 constitution, which he believes was negotiated by the country’s founding fathers and better accommodated its diversity, would be crucial for the nation’s future.

Anyaoku noted that after the 1960 constitution was implemented, Nigeria experienced greater unity, stability, and development — until the military takeover in 1966, which introduced a unitary system that has persisted in various forms to the present day.

“We must have a true Nigerian peoples democratic constitution based on the principles that underlie our 1960/63 constitution which was painstakingly negotiated and agreed by the founding fathers of independent Nigeria,” he added.

“As many of us in this room will remember, Nigeria was more united, stable, and developing towards achieving its potential after that constitution until the military intervened in governance in January 1966 and introduced a unitary constitution that has virtually existed, albeit in different forms, until today.”

Under the 1960 constitution, Nigeria had three regional governments with significant autonomy, a bicameral legislature and a parliamentary system.

It was subsequently replaced by the 1979 constitution, and later 1999 constitution.

Justice Maryann Anenih of the Federal Capital Territory High Court in Maitama, Abuja, on Thursday, adjourned till November 27, 2024, the arraignment of the immediate-past governor of Kogi State, Yahaya Bello.

He is facing trial in the fresh 16 charges preferred against him by the Economic and Financial Crimes Commission.

Bello, and two others – Shuabu Oricha and Abdulsalami Hudu, are facing prosecution bordering on criminal breach of trust, and conspiracy to commit an offence to the tune of N110.4bn.

EFCC counsel, Jamiu Agoro, at the resumed hearing, asked the court for an adjournment to enable Bello to be present in court for his arraignment, since the order of the court given on October 3 had not elapsed.

According to the prosecution, the 30-day window issued by the court was still running for the summons earlier issued.

Recall that the court had issued a public summon for Bello to appear before it to answer the 16 new charges pending against him.

Justice Anenih issued the summons after the EFCC filed an application claiming inability to serve Bello with the charge filed on September 24.

Justice Anenih, in a ruling, ordered the EFCC to publish the public summons in a widely circulating newspaper.

She also ordered the EFCC to paste copies of the public summons on Bello’s last known address and in conspicuous places on the court premises.

While Agoro prayed to the court for an extension of time for Bello to appear in court for his scheduled arraignment, he also craved the indulgence of the court to grant an order to paste a hearing notice at his residence.

Agoro said “I will humbly pray to your lordship for the extension of time for the first defendant who is supposed to appear before your lordship to be in court.

“We feel it will not be appropriate for us to take proceedings while the 30 days is still running.

“My Lord, I also want to pray that in the event that your lordship is magnanimous to grant this request the court approves the same to paste a hearing order at the last known address of the first defendant.

“The last known address of the first defendant is No 9, Benghazi Street, Wuse Zone 4. My Lord, that is our humble application.”

Meanwhile, Bello’s co-defendants (Oricha and Hudu) were granted administrative bail by the anti-graft agency.

Counsel for the second defendant, Aliyu Saiki (SAN), who confirmed that his client had been granted administrative bail by the prosecution, said he had no objection to the application for adjournment.

The third defendant’s counsel, Z. E. Abass, was in compliance with Saiki’s submission.

They also prayed the court to continue to allow their clients to enjoy the administrative bail granted them.

The prosecution counsel afterwards, prayed the court for an adjournment.

He informed the court that a discussion had been had with the defence team and they had agreed to come back on the 27th day of November 2024.

He also said the 20th of November date earlier given was not convenient for him.

After listening to all the parties, the judge granted EFCC’s application for adjournment.

She also granted the request to paste the hearing notice at his residence.

The trial judge adjourned the case to November 27 for arraignment.

She said “I have considered the application for adjournment by the complainant and issuance of hearing notice and the submission by the second and third defendants. The application is granted.”

MultiChoice Group Limited has written off $21m deposited in Nigeria’s Heritage Bank following the financial institution’s liquidation earlier this year.

This disclosure was contained in the company’s interim financial statements for the half-year ending September 30, 2024.

The sum was classified as irrecoverable after the Central Bank of Nigeria revoked Heritage Bank’s operating licence, effectively shutting down the institution.

The financial statement document read, “Following the revocation of Heritage Bank’s banking licence by the Central Bank of Nigeria on 3 June 2024 and its subsequent liquidation, the group wrote-off its receivable relating to the cash held with the bank.”

MultiChoice’s decision to write off the funds underlines the difficulties faced by businesses navigating Nigeria’s financial sector, particularly amidst an unstable economic climate.

Nigeria remains a challenging terrain for MultiChoice, with the group grappling with soaring inflation, and a continuously depreciating naira.

The company also reported lower cash remittances from Nigeria, extracting only $65m during the period under review, compared to $91m in the same period last year.

Exchange rate losses further compounded the financial strain on the group’s operations in its largest African market.

It noted, “The further depreciation of the naira against the US dollar has resulted in further foreign exchange losses on non-quasi equity loans (on the USD-denominated intergroup loan from MultiChoice Africa Holdings B.V. to MultiChoice Nigeria Limited), contributing to the ZAR2.1bn (1H FY24: ZAR2.4bn) recognised in the condensed consolidated income statement.

“The group extracted USD65m from Nigeria in the period (1H FY24: USD91m) at an average rate of NGN1,516:USD (1H FY24: NGN794:USD), incurring extraction losses of USD1m or ZAR20m (1H FY24: USD28m or ZAR518m) in the process.

“The group held USD11m in cash in Nigeria at period-end, down from USD39m at end FY24, a consequence of consistent focus on remitting cash, the impact of translating the balance at the weaker naira and the write-off of the USD21m receivable relating to the cash held with Heritage Bank before its license was revoked and the bank was liquidated.”

The firm also noted that Nigeria accounted for 63 per cent of the MultiChoice Group’s subscriber losses in its Rest of Africa segment since FY23.

The decline, largely driven by severe economic pressures including inflation and the weakening naira, highlights Nigeria’s substantial contribution to the overall reduction in the subscriber base.

From FY23 to 1H FY25, active subscribers in the Rest of Africa dropped significantly, with Nigeria showing a net loss of 1.1 million.

Multichoice Group, owners of DSTV, had earlier said that it had an account balance of N31.6bn with Heritage Bank, before the bank’s liquidation.

The PUNCH recently reported that the Nigeria Deposit Insurance Corporation announced plans to sell off properties and assets belonging to the defunct Heritage Bank in a bid to recover funds for uninsured depositors.

This move, which the NDIC describes as crucial, is part of its statutory mandate as the liquidator of failed banks under Section 62(1)(d) of the NDIC Act, 2023.

The exercise, scheduled to begin on December 4, 2024 will involve competitive bidding for the bank’s landed properties and chattels located at 36 sites nationwide.

Nollywood movie marketer, Kazim Adeoti, has spoken about criticism surrounding his marriage to actress Mercy Aigbe.

Naija News recalls that in January 2022, Mercy unveiled Adeoti as her husband, after which the first wife to the filmmaker, Funsho Adeoti, accused Mercy of snatching her husband.

However, Kazim defended his decision to marry a second wife, citing his Muslim faith.

Speaking on the controversies surrounding his marriage, Kazim, in an interview with journalists at the National Film and Video Censors Board’s (NFVCB) 4th Peace Ayiam Osigwe (PAO) Nigeria Digital Content Regulation Conference on Thursday in Lagos, said as a public figure, he cannot control others’ opinions or narratives about his marriage.

Kazim added that he stays focused on his work, believing the end justifies the means.

He said, “When you find yourself in the public domain, you cannot really control a whole lot of opinions or narratives. What is most important is for you to be focused and at the end of the day, the end justifies the means.” 

Kazim also discussed the challenges facing the Yoruba movie industry, highlighting funding as a significant obstacle.

According to the movie producer, collaboration and adequate funding are essential to producing high-quality movies that showcase original storylines and talented actors.

He added, “I think it is more of a collaboration issue because we have what it takes to shoot good movies. When it comes to the storyline, the originality, telling our real stories and fantastic actors, we have it all.

“But in most cases, what we are lacking is the funding and that is what limits our bringing those stories into reality. This is because we know if we do it this way, this is how it should be done but when we do not have the adequate funding, it limits the job.”

The First Lady of Nigeria, Senator Oluremi Tinubu has charged youths in the country not to push aside the admonition and advice from parents and the elders.

Naija News reports that the former Senator stated this while speaking on Thursday at the One Day workshop for women and youth on corruption prevention organized by the Independent Corrupt Practices and other Related Offences Commission, ICPC, in Abuja.

The First Lady pointed out that the fight against corruption must begin in the homes where mothers must be at the forefront of the battle.

She said: “We must move beyond the desire to have our voices heard and step into roles where our actions are impactful. Let us take a moment to reflect on the words of our elders: ‘it takes a village to raise a child’. In the same vein, it takes the collective will of the entire nation to defeat corruption”.

Senator Tinubu urged mothers to take their role as nurturers more seriously especially as corruption is a societal challenge that strikes at the heart of development.

Mrs Tinubu said: “This menace is seen in every sector, from the trader in the market, to the private sector, government agencies, the judiciary and even in places of worship to mention a few and age is no barrier. It is for all of us and for the future of our beloved country, that we must remain resolute in our efforts to combat this scourge. We cannot leave this battle to government agencies alone.

“It is time for us to take our place as mothers, grandmothers, aunties, sisters, leaders and reformers to do the needful. Women are nurturers but recently, we have left our children to raise themselves with the excuse of providing a better life for them.”

In his address the chairman of the ICPC, Dr Musa Adamu Aliyu, emphasized that the fight against corruption is one that the commission is determined to win and this is the reason for adopting the approach of involving mothers, youth and other critical stakeholders.

There were goodwill messages from representatives of the youth, Code of Conduct Bureau, JAMB and security agencies among others.

The registrar of JAMB, Prof Ishaq Oloyede in his message noted that the mothers have a crucial role to play in ensuring that corruption is not integrated or perpetuated in the upcoming generation.

On the part of the Commissioner for Youth, Kogi State, students must move from protests to participation.