By Adedapo Adesanya

The Nigerian government has inaugurated a special inter-ministerial committee on research and innovation to ensure food security in Nigeria and slash the cost of food by 50 per cent.

The team was also charged on energy security and curtailing the nation’s dependence on import.

The Vice President, Mr Kashim Shettima, inaugurated the panel at the State House Abuja with a charge to them to work towards cutting down Nigeria’s import bills by 50 per cent.

He said the group is part of ongoing efforts by the administration of President Bola Tinubu to pool intellectual and financial capital to “create the cockpit from which Nigeria’s innovation economy will be piloted.”

“We are here to breathe life not into this Committee, but into a bold mission: to build Nigeria into an innovation-driven, trillion-dollar economy within a decade. The future we desire is not something we inherit. It is something we build,” he declared.

On its terms of reference, Mr Shettima said it is to coordinate action in five strategic sectors with the power to transform society.

He listed the committee to include  “Agriculture and Climate Resilience, where research innovation must feed our people and protect our planet; Manufacturing Excellence, where we break our dependency on imports and build proudly Nigerian supply chains; Healthcare Innovation, where we shift from importing medicines to exporting medical breakthroughs; Natural Resource Optimisation, where we stop selling raw materials and start exporting ingenuity; and Energy Security, where we power our economy and secure our future.”

The Vice President explained that a major target for setting up the panel was to reduce Nigeria’s food import bill by 50 per cent, maintaining that “in each of these areas, we will pursue missions, not just metrics.

“We will not be content with data for dashboards—we want deliverables that change lives. What will it take to reduce our food import bill by 50 per cent? How do we triple local pharmaceutical production? Let us align policy, research, and investment to answer these questions and achieve measurable, meaningful outcomes,” he added.

Mr Shettima disclosed that the team is a prelude to a Presidential Plenary on Innovation approved by President Tinubu, saying the high-level plenary, which will be held annually, will be presided over by the President himself.

“This committee is only the beginning. President Tinubu has approved a Presidential Plenary on Innovation—an annual high-level forum that will bring together academia, research institutes, industry, civil society, and the Nigerian people to align our national innovation priorities.

“This plenary will be addressed by Mr President himself, because innovation is a presidential area of priority. It is central to his vision for a new Nigeria,” the VP explained in a statement.

Present at the inauguration were the ministers of Innovation, Science, and Technology, Mr Uche Nnaji, Agriculture and Food Security, Mr Abubakar Kyari; Communications, Innovation, and Digital Economy, Mr Bosun Tijani; Mr Balarabe Lawal; Mr Idi Mukhtar and representatives of the Ministers of Education, Budget and Economic Planning, and Foreign Affairs, among other members of the committee.

By Adedapo Adesanya

The federal government has made a pledge to electricity generating companies known as Gencos on the payment of 50 per cent of a N4 trillion debt to avert a promised halt in electricity generation in the country.

The Minister of Power, Mr Adebayo Adelabu, made this promise on Thursday, saying that while the government can’t pay the entire N4 trillion, it would clear N2 trillion before the end of the year.

Business Post reports that of the N4 trillion owed, N2 trillion is for electricity generated in 2024, while around N1.9 trillion represents legacy debts.

On Monday, GenCos threatened to shut down the country’s power generation over the debt owed by the federal government.

The GenCos lamented that the mounting liabilities were crippling their ability to operate and threatening a total shutdown of electricity generation in Nigeria.

Mr Adelabu said the government has put in place measures to defray the debt through budgetary allocation and promissory notes.

“Almost all of the debt is inherited, while about half came from 2024.

“There are plans under way to clear the debt; while I am not sure that the debt will be cleared 100 per cent, it will be paid gradually.

“The modes of payment are of two ways: we have some budgetary allocation that will facilitate cash payment, and we are also in discussion with Gencos to get them some promissory notes. I can tell you that before now to the end of the year, we are going to pay close to N2 trillion of the 4 trillion,” he said.

He also revealed that Nigeria has achieved a 35 per cent reduction in electricity subsidies following a tariff increase implemented last year for some users.

The government last year eliminated subsidies for the 15 per cent of customers classified as premium users of electricity, including households and businesses consuming larger amounts of electricity under Band A, meaning they paid higher than other classes from Band B to E.

Mr Adelabu said this targeted tariff adjustment has yielded significant results, with “the market generating an additional N700 billion  in revenue, reflecting a 70 per cent increase.”

By Modupe Gbadeyanka

The presidency has informed that Nigerians that the absence of President Bola Tinubu remains temporary and was not missing in action.

In a statement on Thursday by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, it was disclosed Mr Tinubu should return to the country next week.

Some days ago, President Tinubu left the shores of the country for a “working visit” to France but later left the European nation for the United Kingdom at the weekend.

In the statement today, Mr Onanuga said his boss “remains fully engaged in Nigeria’s governance even though he is away in Europe.”

According to him, “His absence remains temporary and in line with the communicated timeframe of approximately two weeks.”

The spokesman said Mr Tinubu “has maintained constant communication with key government officials, overseeing critical national matters, including directives to security chiefs to address emerging threats in some parts of the country.”

“His return to Abuja and the resumption of duties at Aso Villa will follow the conclusion of the Easter holiday,” he declared.

“The President’s commitment to his duties remains unwavering, and his administration continues to function effectively under his leadership.

“We appreciate the public’s concern and assure all Nigerians that governance proceeds without interruption,” the statement noted.