The Federal Government has reaffirmed its commitment to working with the Taraba State Government to unlock the state’s vast potential in agriculture, energy, tourism, infrastructure and mineral resources.

The Minister of Information and National Orientation, Mohammed Idris, stated this on Thursday in Jalingo at the Gala night to mark the Taraba State’s 35th anniversary and the official unveiling of the Taraba Regional Development Master Plan.

He described the newly unveiled Taraba Regional Development Master Plan as an important blueprint for sustainable growth.

Idris, who conveyed the greetings of President Bola Tinubu and the Federal Executive Council to the government and people of Taraba State, said the state’s 35th anniversary offered an opportunity not only to celebrate its progress since creation in 1991, but also to define a clear pathway for its future.

He commended Governor Agbu Kefas of Taraba for adopting a long-term development framework, saying the success of the Master Plan would ultimately depend on sustained implementation and its impact on the lives of citizens.

“The success of this Master Plan will not be measured by the ceremony at which it is unveiled, but by the roads built, businesses created, jobs generated, communities connected and lives improved,” the minister said.

Idris described Taraba as one of Nigeria’s most promising economic frontiers, with enormous opportunities in agriculture and agro-processing, livestock, hydropower, tourism, manufacturing and mineral development.

He praised the Kefas Administration for its investments in education, healthcare, infrastructure, security and economic development, particularly its policy of free and compulsory primary and secondary education.

He said the evidence was in the provision of more than N1.8 billion in 2026 to cover NECO, BECE and NABTEB examination registration for public-school students.

The minister also highlighted the approximately 268 million dollars financing agreements signed between Taraba State and the ECOWAS Bank for Investment and Development for an integrated industrial park, 10,000 hectares of irrigated rice production and processing, and a 50-megawatt solar power plant in Jalingo.

He said the investments represented the kind of initiatives required to convert the state’s natural advantages into production, value addition, employment and sustainable economic growth.

Idris said Tinubu’s administration was complementing the state’s development drive through major federal infrastructure projects.

“These include the Gembu–Mbamnga–Yang (Lip) Road, the Bali–Serti–Gashaka–Gembu Road, interventions on the Jalingo–Mutum Biyu–Tella–Wukari corridor, as well as further work on the Mayo Selbe–Gembu, Mutum Biyu–Garba Chede and Jalingo–Numan roads.

“These are more than roads. They are investments in connectivity, trade, tourism, agriculture, security and the movement of people and goods,” he said.

The minister also reaffirmed the federal government’s commitment to harnessing Taraba’s agricultural, energy and mineral potential, including the strategic Mambilla Hydroelectric Power Project.

On security, Idris said the federal government was advancing reforms toward the establishment of State Police to bring policing closer to communities while ensuring professionalism, accountability and safeguards against abuse.

He said such a framework could be particularly beneficial to Taraba because of its vast terrain and dispersed border communities, where local knowledge, intelligence gathering and rapid response were critical to effective policing.

The minister also cited the establishment of the Nigerian Army’s 10 Division, headquartered in Jalingo, with operational responsibility for Taraba and Adamawa States, as evidence of the federal government’s commitment to strengthening security in the region.

“Security and development must go together. People cannot invest, farmers cannot move their produce, tourists cannot visit and businesses cannot grow where communities feel unsafe,” Idris said.

He said the federal government’s economic reforms were designed to create a stronger fiscal foundation for development, noting that the removal of petrol subsidy had mobilised N15.8 trillion in additional resources for the Federation between June 2023 and December 2025.

According to him, approximately N5.4 trillion accrued to the federal government while about N10.4 trillion went to states and local governments, providing additional resources for infrastructure, education, healthcare, security and human capital development.

Idris said the federal government remained opposed to a return to the previous subsidy regime, stressing that the priority was to consolidate the gains of reform, protect vulnerable Nigerians and ensure that additional public resources translated into tangible improvements in citizens’ lives.

He emphasised that development must ultimately be people-centred, creating opportunities for young people, expanding women’s economic participation, supporting farmers and small businesses, and connecting communities to markets and public services.

The minister also pledged stronger collaboration between the Federal Ministry of Information and National Orientation and the Taraba State Ministry of Information and Re-Orientation to ensure citizens understand and embrace the objectives of the Master Plan.

“The vision contained in this Master Plan must go beyond government offices. It must reach the farmer, the entrepreneur, the student, the trader and communities across Taraba.

“This is because a plan for Taraba must ultimately be a plan owned by the people of Taraba,” he said.

Idris congratulated Kefas, the government, and the people of Taraba State on the state’s 35th anniversary, describing the occasion as both a celebration of Taraba’s history and a renewed commitment to its future.

“35 years of history. A new blueprint for the future. And a renewed commitment to building the Taraba we want and the Nigeria we deserve,” the minister said.

In his remarks, Kefas also called for continuity in governance, acknowledging the contributions of former military administrators and elected governors to Taraba State’s development.

He said his administration was committed to building on previous achievements, correcting what needed to be corrected, completing worthy projects and opening new frontiers for future generations.

He stressed that the development of Taraba must remain bigger than any government, political party, ethnic group or individual, urging former leaders to continue contributing their experience and institutional knowledge to the peace, unity and prosperity of the state.

“Government must be a continuum. Development must be cumulative. Taraba is bigger than any government, any administration, any political party, any ethnic group, or any individual,” Kefas said.

He added that the ultimate credit for development belongs to the people of Taraba State.

Present at the event were the former Governor of Taraba State, Rev. Jolly Nyame; Secretary to the Government of Taraba State, Chief G.T. Kataps; Director-General of the Nigerian Television Authority, Salihu Dembos; and  Director-General of the Federal Radio Corporation of Nigeria, Dr Mohammed Bulama.

Others were the Managing Director of the Nigerian Ports Authority, Dr Abubakar Dantsoho; as well as other distinguished government officials, traditional leaders, members of the diplomatic and business communities, and other dignitaries.

NAN

Source: punchng.com

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Nigeria’s external reserves have climbed to $53.11bn, representing their highest level in more than 17 years and bringing the country close to the reserve peak recorded in 2009.

Data from the Central Bank of Nigeria showed that reserves stood at $53.112bn as of 24 August, 2026. The figure is the highest since 12 January, 2009, when the reserves reached $53.25bn.

The latest position leaves Nigeria’s reserves just $142m short of the January 2009 level, indicating a significant recovery in the country’s external liquidity position.

The reserve buildup has accelerated since June. CBN data showed that reserves increased from $49.96bn on 3 June to $53.11bn on 24 August, representing a gain of about $3.15bn.

Reserves also rose from $51.53bn on 3 July to $53.11bn by 24 August. The position crossed the $52bn threshold on 27 July and subsequently increased to $52.86bn on 21 August.

The sustained accumulation has been supported partly by stronger oil earnings and increased dollar inflows into the economy.

Analysts say the stronger reserve position gives the country a larger cushion against external shocks and supports efforts to improve confidence in the foreign exchange market.

The buildup is occurring alongside the CBN’s tight monetary policy stance, which is aimed at containing inflation and supporting broader macroeconomic stability.

According to an Abuja-based economist, Chukwunmonso Iheoma, “The rise in reserves strengthens Nigeria’s capacity to manage external pressures and provides greater confidence in the foreign exchange market.”

He warned that the focus now should be on ensuring that the accumulation is supported by sustainable dollar inflows rather than temporary factors.

Earlier on 19 August, the acting Director, Corporate Communications and Investor Relations Department at the CBN, Hakama Sidi-Ali, had explained that over the past 34 months, the Governor of the CBN, Olayemi Cardoso, had led bold reforms to establish the much-needed foundation for Nigeria’s next economic phase, promoting inclusive growth and job creation to alleviate poverty.

Sidi-Ali listed some of the reforms to include the unification and greater transparency of the foreign exchange market; successful banking sector recapitalisation, which, according to her, has fundamentally strengthened the resilience, capacity and competitiveness of the Nigerian banking industry.

Others are the launch of the non-resident BVN to connect Nigerians abroad with local banking services; the B-Match System for forex trading; unveiling of the Nigeria Payments System Vision 2028; and introduction of a 75 per cent Cash Reserve Ratio on non-Treasury Single Account public sector deposits to enhance liquidity management and curb inflationary risks, among other reforms.

Source: punchng.com

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President Bola Tinubu on Thursday disclosed that state governors have resolved, on their own initiative, to reduce the cost of transportation nationwide.

He said a joint federal-state committee would be established immediately to ensure that cheaper Compressed Natural Gas translates into lower transport fares for commuters from October 1, 2026.

In a personal statement titled ‘Cheaper Fuel Must Mean Cheaper Transport Fares President Tinubu, Governors Move to Cut Transport Fares Nationwide,’ the President said his discussion with the Nigeria Governors’ Forum on Thursday afternoon produced a firm commitment from governors to leverage the cost benefits of CNG and electric vehicles to bring down transportation costs in their states.

He stated, “I am pleased with my discussion with the Governors’ Forum this afternoon. The governors have, on their own initiative, resolved to take immediate measures to bring down the cost of transportation in their states, with a strong focus on leveraging the cost benefits of CNG and electric vehicles.”

He disclosed the scale of the Federal Government’s ongoing investment in the energy transition through the Presidential CNG Initiative.

“The Federal Government is already investing significantly in this energy transition.

“Through the Presidential CNG Initiative, over 120,000 vehicles have been converted nationwide, with more than 100,000 additional conversion kits in the works.

“At the same time, we continue to expand conversion centres and refuelling infrastructure nationwide,” he added.

Tinubu said the Midstream and Downstream Gas Infrastructure Fund was currently financing more than 100 gas projects across the country, including 15 CNG mother stations and 86 daughter stations, recalling that he had inaugurated four of these projects in Lagos, Abuja and Owerri in May.

“This included a 15-station refuelling network in Lagos and an Abuja facility that can serve 1,000 cars and tricycles and 50 trucks and buses a day,” Tinubu added.

He announced a further expansion of the programme, saying, “I have also directed the additional rollout of another 500 CNG refuelling stations nationwide, in addition to the 500 stations ordered earlier in the year by the Fund, bringing the programme to 1,000 stations across the country.”

Explaining the rationale for placing the responsibility partly in the hands of state governments, Tinubu argued that intra-state transport was where the impact of high fuel costs is felt most directly by ordinary Nigerians, and where states hold the greatest regulatory leverage.

According to the President, “Intra-state transport is where Nigerians feel the cost most directly, and it is where the states hold the levers. I am encouraged that our Governors are moving to bring these benefits closer to the people they serve.”

He disclosed that a joint federal and state committee would be established immediately to begin implementing the measures.

He also cited the scale of potential savings, saying the economics of CNG adoption left no justification for fares to remain unchanged.

“We have agreed to set up a joint federal and state committee to begin implementing these measures immediately. A vehicle running on CNG spends 60 to 80 per cent less on fuel than one running on petrol.

“From October 1, our goal is that Nigerians begin to partake in those savings through lower transport fares. We have agreed that cheaper fuel should result in cheaper fares,” he said.

The President called for coordinated action across all tiers of government to deliver on the commitment, stating that “Each tier of government must keep doing its part and work together for the benefit of every Nigerian. Nigeria First.”

Thursday’s announcement by the President comes days after Tinubu appealed to stakeholders that the savings from CNG-conversions should be passed to commuters through reduced fares.

Addressing journalists on Wednesday after meeting President Tinubu at Aso Rock, Director-General of the National Automotive Design and Development Council, Joseph Osanipin, disclosed that the number of licensed CNG retail firms nationwide had risen from four to 81, even as fleet operators continued to resist transferring the benefits of cheaper fuel to passengers.

Earlier on Thursday, the NGF threw its weight behind a proposed National Affordable CNG Transit Programme aimed at reducing transportation fares and easing the impact of fuel subsidy removal on Nigerians.

The governors said the initiative, which is being developed as a state-led programme in partnership with the private sector, would leverage the lower operating cost of compressed natural gas to bring down the cost of public transportation.

The position was contained in a communiqué issued at the end of the NGF’s third meeting held on Wednesday night and ended in the early hours of Thursday in Abuja.

The communique was signed by the NGF Chairman and Kwara State Governor, AbdulRahman AbdulRazaq and read by the Bayelsa State Governor, Douye Diri, after the meeting.

According to the governors, the proposed NACTP would involve state support for CNG vehicle conversions, vehicle fleets and related infrastructure, while participating transport operators would commit to fare reductions.

The forum said it recognised the potential of the initiative to reduce the burden of transportation costs on citizens but noted that its financing and implementation framework would require further consideration.

Speaking during a question-and-answer session after the meeting, Diri said the governors considered transportation a critical part of the wider cost-of-living crisis because increases in transport fares affect the prices of goods and services.

“Transportation is key. Transportation is key to several other factors,” he said.

He explained that the cost of moving food and other commodities from one location to another was ultimately reflected in the prices paid by consumers.

“If, for instance, you are talking about foodstuffs—increase in the cost of foodstuffs, they will tell you that ‘I’m moving from point A to point B, the transport cost is XY.’ And so for that reason, the cost of my yam, the cost of my garri is this,” Diri said.

He said reducing transportation costs through CNG would therefore have a wider effect on the economy.

“So, by the time you reduce the cost of transport, as I said earlier, it will have a multiplier effect,” he added.

The governor linked the initiative directly to the removal of petrol subsidies, saying the objective was to cushion the impact of the policy on ordinary Nigerians.

“That’s because there is now the removal of subsidies. And the impact is expected to be on our people—the very common man that we all talk about,” he said.

The governors’ endorsement of the CNG programme comes as the removal of petrol subsidy continues to shape public debate over the rising cost of living, particularly transportation and food prices.

The Federal Government’s decision to end the petrol subsidy in 2023 triggered a sharp increase in fuel prices and transportation costs, with the effects extending across the economy as businesses and households adjusted to higher energy and logistics expenses.

The development has also remained a major political issue, with some opposition actors calling for a return to petrol subsidies as a means of reducing hardship.

Asked whether the NGF had discussed the growing political debate over subsidy removal and proposals by some political stakeholders to restore the subsidy, Diri said the issue had been addressed through the Forum’s consideration of transportation costs.

He said the proposed CNG intervention was intended to provide a practical response to the transport component of the hardship rather than reverse the subsidy policy.

The governor was also asked whether the NGF would accept criticism that state governments had not been sufficiently accountable for funds accruing to sub-national governments following the removal of the subsidy.

“That cannot be true. That cannot be true,” Diri replied, adding, “But we’ll leave that debate for another day.”

The Forum’s communiqué did not provide a specific timeline for implementation of the NACTP.

Asked when the programme would commence, Diri said the details would be determined through further discussions.

“Those details will be worked out between the Forum and those who have come to present to the Forum,” he said.

The NACTP is expected to focus on making CNG-powered transportation more accessible by supporting vehicle conversions, fleet acquisition and the development of infrastructure needed to sustain the system.

The governors also received a presentation from the Minister of Industry, Trade and Investment, Jumoke Oduwole, on opportunities for states to participate in the Creative Africa Nexus Weekend 2026 and the Intra-African Trade Fair 2027, both scheduled to take place in Lagos.

The Forum said the events could provide states with opportunities to showcase investment-ready projects, promote local exports and tourism, and connect state-based micro, small and medium enterprises with African and international investors and buyers.

Source: punchng.com

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