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Economic diversification panacea to Nigeria’s economic crisis – Danbatta
The Executive Vice Chairman, Nigerian Communications Commission (NCC), Umar Garba Danbatta, has underscored the centrality of economic diversification and ethical leadership at all levels of government as panacea to the current economic headwinds in Nigeria.
Kano Focus reports that Mr Danbatta stated this when he delivered a paper titled: “Ethical Leadership as an Instrument for National Sustainability in the Post-Oil Nigerian Economy: a Public Sector Perspective” at a two-day hybrid (online and onsite) Annual Directors Conference (ADC) organized by the Institute of Directors (IoD), Nigeria.
Mr Danbatta emphasized that the fourth industrial revolution (4IR) or digital age promises greater revenue-earning potential to the nation.
Mr Danbatta, said the Federal Government has realized that Nigeria cannot be solely dependent on oil earnings anymore, hence the decision of the FG to explore ways of diversifying the economy.
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Economic diversification, according to Danbatta, is the process of shifting an economy away from a single income source toward multiple sources from a growing range of sectors and markets.
He said this is with a view to increasing productivity, creating jobs and providing the basis for sustained economic growth.
Danbatta said though, the Federal Government has made several attempts at economic diversification, such attempts have had little impact as majority of them have folded up whilst others are finding it difficult to survive.
He noted that the situation has further been compounded by the recent economic recession and the COVID-19 pandemic, which adversely affected the global economy, including Nigeria.
Danbatta stated that countries and societies have evolved by finding new ways of doing things to ensure economic sustainability, which has led to the first, second and third industrial revolutions.
“Currently, countries are exploiting the 4IR in order to diversify their economies.
“The fourth industrial revolution, which has also been referred to as 4IR or Industry 4.0, describes the age of intelligence and encompasses technologies like high-speed mobile Internet, Artificial Intelligence (AI), automation, the use of big data analytics and cloud computing,” he said.
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Danbatta, also emphasized that the 4IR is the information and digital economy age, which, if properly enhanced and exploited, can unleash a new phase of massive revenue generation and wealth creation for Nigeria in the post-oil era.
“This is because while natural resources such as oil, gas, and so on, are finite, data and information are infinite.
“Furthermore, the possibilities provided by the 4IR are limitless and can generate employment for Nigeria’s teeming youth population Therefore, in order to achieve economic growth using the 4IR there is the need for ethical leadership,” he said.
Zeroing on the centrality of ethical leadership in the public sector, Danbatta said in order to achieve national sustainability in the post-oil Nigerian economy, the highest standard of ethical leadership is required of all leaders especially in the public sector.
“Ethical leadership is essential for sustainable development of a Country.
“Nurturing an ethical leadership culture is essential and this will determine the transformation and overall development of the Country.
“Nigeria stands at the threshold of history and would definitely need ethical leaders to ensure sustainability in the post-oil era as government takes positive steps to diversify the economy,” he added.
The IoD Nigeria Annual Directors’ Conference is the Institute’s flagship event, which is attended by captains of industry and directors in both private and public sectors of the Nigerian economy.
It is a forum where contemporary issues affecting leadership and corporate governance of Nigeria’s businesses are x-rayed and global best practice solutions provided by professionals and practitioners in corporate administrations.
Nasiru Yusuf Ibrahim
A former Governor of Kano State Dr. Rabiu Musa Kwankwaso, has commended the Inspector-General of Police, Olatunji Disu, for ordering a fresh investigation into the disappearance of activist and lecturer Abubakar Idris Dadiyata.
KANO FOCUS reports that Kwankwaso made the remarks in a statement posted on his Facebook page on Saturday following recent testimony by a former aide to an ex-state governor, who allegedly claimed that police officers were responsible for Dadiyata’s disappearance in Kaduna.
Dadiyata, a lecturer and social media commentator, was abducted in 2019, and his whereabouts have remained unknown since then.
According to Kwankwaso, he and his associates have consistently advocated for a thorough investigation into the incident and for those responsible to be brought to justice.
He described the Inspector-General’s directive for a comprehensive investigation as a “decisive and long-overdue action,” expressing hope that the process would uncover the truth behind the disappearance.
The former governor also urged police authorities to place individuals named in the allegations under close surveillance to prevent interference with the investigation.
Kwankwaso further called on the government to ensure that Dadiyata, if found alive, and his family receive adequate compensation for the trauma and hardship they have endured over the years.
He commended members of the public for sustaining advocacy efforts on the case and also praised Abba Hikima Fagge for what he described as his important role in the latest developments surrounding the investigation.
Kwankwaso expressed optimism that the renewed probe would ultimately deliver truth and justice in the case.
Nasiru Yusuf Ibrahim
Dangote Petroleum Refinery and Petrochemicals Limited has announced that its ex-depot price of Premium Motor Spirit (PMS) remains unchanged, reaffirming its commitment to stability in Nigeria’s domestic energy market.
In a statement issued by Esan Sunday, Head of Media Relations, Branding and Communication, the company said sustaining the current price reflects its efforts to cushion the broader economy against external shocks. It noted that by absorbing prevailing cost pressures, the refinery is helping to moderate inflationary risks, promote energy affordability, and ensure uninterrupted fuel supply amid ongoing global uncertainties.
The company reiterated its dedication to the steady supply of high-quality petroleum products to the Nigerian market, while aligning with national objectives of price stability and energy security.
It also urged the public to rely solely on official communications from the refinery for accurate and up-to-date information regarding its operations and pricing.
Nasiru Yusuf Ibrahim
President Bola Ahmed Tinubu has congratulated Alhaji Murtala Sule Garo on his emergence as the Deputy Governor of Kano State following his swearing-in on Tuesday.
KANO FOCUS reports that Garo was sworn in by Governor Abba Kabir Yusuf after being nominated to fill the vacancy created by the resignation of former deputy governor, Comrade Aminu Abdulsalam.
In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President described Garo’s appointment as a positive step toward strengthening unity within the All Progressives Congress (APC) in Kano State.
The President noted that the 48-year-old politician has held several public offices, including Chairman of Kabo Local Government Area and Commissioner for Local Government and Chieftaincy Affairs during the administration of former governor Abdullahi Umar Ganduje. He also served as the APC governorship running mate in the 2023 general elections.
Tinubu commended Governor Yusuf for the appointment, urging political stakeholders in the state to rally behind the administration to ensure stability and progress.
He also called on the new deputy governor to work closely with the governor in delivering effective leadership and accelerating development in Kano State.
The President wished Garo success in his new role.
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