APA – Lagos (Nigeria)
The President of Nigerian Senate, Senator Godswill Akpabio, has congratulated Ms. Maureen Chigbo, Publisher of Realnews Magazine on her re-election as the President of the Guild of Corporate Online Publishers, GOCOP, at the 7th National Conference of the organization held in Abuja.
In the message signed his Special Adviser on Media and Publicity, Hon, by Eseme Eyiboh, Senator Akpabio promised to cooperate with all the newly elected executive members on developing Nigeria’s democracy for the benefit of the common man.
He stated that his emergence as the leader of the 10th Senate was the creature of a transparent and credible election and expressed satisfaction that GOCOP had replicated the same spirit in electing its leaders.
The Senate President said: “I congratulate the new national executive of the Guild of Corporate Online Publishers (GOCOP).
“I urge you all to invest your expertise and experience in the general public perception and reputation management of the 10th Senate and its leadership,” he said.
Meanwhile, Prof. Uche Uwaleke of the Nasarawa State University has said that Nigeria can only achieve socio-economic recovery and sustainability for all, if the stakeholders in the country fulfill their roles.
Speaking at the 7th Annual Conference of the Guild of Corporate Online Publishers GOCOP in Abuja, Uwaleke said that while the government would create the enabling environment for businesses to thrive, the private sector should invest in the productive sectors of the economy, while the civil society should hold both the government and the private sector accountable.
He called on the media, especially GOCOP, to leverage the expanding internet penetration in Nigeria to continue playing its pivotal role by educating the public on the significance of government programmes and policies.
“It should also actively promote good governance by holding the government accountable and reporting on instances of corruption and other forms of misconduct. Additionally, it can support businesses by promoting their products and services and highlighting the challenges they encounter.
The Professor of Capital Market who spoke on the theme; Nigeria: Roadmap For Socio-Economic Recovery and Sustainability, recalled that the country had over the years, been bedeviled by several challenges, which hampered its socio-economic progress and sustainable development despite sitting on huge resources.
“In particular, the last 10 years have been characterized by weak economic growth, elevated inflation, high unemployment and rising poverty. Poor access to credit, weak infrastructure, multiple taxes and the general unconducive business environment have led to the exit from Nigeria of many foreign businesses and shut-down of local firms thereby worsening the unemployment situation in the country.
He also said that although, Nigeria’s economy grew at a rate of 5.53% from 2010 to 2015, this growth was not inclusive given the high rate of poverty during that period. Even then, economic growth slowed dramatically to 1.20% from 2016 to 2022. The country went through two cycles of economic recession: first in 2016 (on account of slump in crude oil price) and second in 2020 (largely due to COVID-19).
According to him, this can be seen from Nigeria’s public debt rising significantly from N7.56 trillion in 2012 to N87.34 trillion as at June 2023. This high level of debt makes it difficult for the government to finance its operations and invest in important development projects leaving the country more vulnerable to economic shocks. The recent fuel subsidy removal was compelled by this grave fiscal position.
“Inflation rates in the country have remained high, rising from 10.39% between 2010 and 2015 to 25.80% as of August 2023. The unemployment rate also increased (despite new methodology adopted by the National Bureau of Statistics). By implication, the country’s misery index and poverty rate have been on the rise despite the Social Intervention efforts of the government. By 2022, the number of persons estimated to be multidimensionally poor in Nigeria was over 130 million!
He added that although the country has made some progress in reducing infant mortality, it still remains the highest contributor to the global under-five mortality rate. The number of children out of school has increased from about 8.6 million in 2010 to over 20 million in 2022.
According to him, achieving socio-economic recovery and sustainability necessitates a collaborative effort involving the government, private sector, citizens, and civil society, including the media.
“As Nigeria matches on in her democratic journey, it is imperative to have a clear roadmap for socio-economic recovery and sustainability to allow for the delivery of democratic dividends. In addition to ensuring security of lives and property, rule of law and a commitment to the fight against corruption and changing the structure of the economy from mono product to a multi-product economy among others.
GIK/APA