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Nigerian capital market, credible platform for long-term finance – Ahmed

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Minister of Finance, Mrs Zainab Ahmed

The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, says the Nigerian capital market is a credible platform for medium to long term finance for economic development.

Ahmed said this at a webinar organised by the Securities and Exchange Commission (SEC) in collaboration with the Ministry of Solid Minerals Development on Thursday.

The minister added that the nation’s capital market was a key catalyst for the development of the critical sectors of the economy.

The theme of the webinar was: “Financing the Solid Minerals Sector through the Capital Market and the Critical Role of Commodity Exchanges.”

Ahmed said the facilitation of funding and provision of structured market platforms such as the commodities exchanges portends significant addition for the mining and solid minerals sector.

She said the event and its theme were relevant to the economy given the need to diversify and grow the economy, and to enable the nation achieve sustainable development in the post COVID-19 pandemic era.

“The mining sector is strategically based as alternative source for revenue generation in the economic diversification plan of the Federal Government of Nigeria.

“It also has the potential to create employment and develop rural settings for other benefits,” she said.

Ahmed noted that the mineral export guidelines by the Federal Government was formulated to address the need to keep accurate mineral trade data.

She said it was also to ensure effective monitoring of the evacuation of export proceeds, to optimise the collection of royalties, and facilitate the implementation of free shipment inspection policies.

She explained that the initiative of employing the commodities exchange in this regard would encourage responsibility accounting and fairness to governance.

The minister assured of the unwavering support of the Federal Ministry of Finance, Budget and National Planning to ensure the achievement of the overarching objective of the Federal Government to develop the mineral potential of the country.

“The reality is that the nation stands to benefit more in an organised mining and solid mineral extractive industry and the capital market is here to contribute its quota.

“This webinar is a signal that with the appropriate collaboration amongst sectors, institutions, regulators and operators, we can exceed out targets sooner rather than later and Nigeria will reap huge benefits from such forums,” she added.

In a welcome address, SEC’s Director-General, Mr Lamido Yuguda, said with over 44 minerals found across the federation, the solid minerals sector would be instrumental in the on-going quest to diversify the economy.

Yuguda said: “We believe that the Nigerian commodity trading system and indeed the capital market can be the transformational patronage to bring about this positive changes in the sector.

“With opportunities provided for better access to marketing of produce, price discovery and valuable market information, a striving commodities trading ecosystem has the potential to foster inclusive mining prosperity.

“It will also enhance financial inclusion of artisanal miners, foster mineral production, stimulate exports and ultimately engendered economic development, amongst other benefits.

“Undoubtedly, greater connectivity of the mining sector and the commodities trading ecosystem will ensure that mineral commodities could be traded on transparent, efficient and organised trading platform provided by commodity exchanges.”

In his keynote address, Minister of State, Ministry of Solid Minerals and Steel Development, Dr Uchechukwu Ogah, described the webinar as timely because it came at a time that President Muhammadu Buhari, had put all the necessary machinery in place to revamp the sector for economic stability.

Oga, however, expressed disappointment that over 90 per cent of the artisanal miners and small scale operators’ contribution to employment was still very low with a Gross Domestic Production (GDP) contribution of 0.5 per cent.

“We eagerly want to change this through implementation of the roadmap to contribute about five per cent to the GDP by 2025.

“Inadequate funding has been the bane of underdevelopment; it is on this premise that I welcome this partnership with the SEC,” he said. (NAN)

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Nigerian Anglicans Condemn Lesbian Archbishop of Wales, Deepening Global Anglican Rift

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Anglican Church logo

…Church leaders accuse Welsh counterparts of “spiritual decadence” and “abandonment of faith”

The Church of Nigeria (Anglican Communion) has issued a forceful condemnation of the election of Rt. Rev. Cherry Vann, an openly lesbian cleric, as the Archbishop of Wales. The move is the latest in a series of developments that have deepened divisions within the global Anglican Communion over sexuality and doctrine.

In a statement from Primate The Most Rev’d Henry Ndukuba, the church denounced the election as a “serious departure from biblical teaching” and a sign of “spiritual decadence” and “an outright abandonment of the faith once delivered to the saints.”

Archbishop Ndukuba warned that Bishop Vann’s elevation compromises the Anglican Church’s global mission and could obstruct evangelism. He compared the situation to the controversial tenure of Most Rev. Katherine Jefferts Schori, former Presiding Bishop of the U.S. Episcopal Church, who also faced intense criticism from conservative Anglicans for her progressive views.

The Primate accused Bishop Vann of being complicit in the “ongoing crisis” around same-sex issues, stating that the election is a “clear revelation that many who claim to be members of the body of Christ cannot endure sound doctrine” (2 Timothy 4:3–4).

The Church of Nigeria called on Anglicans worldwide to reject “rebels” and “apostates” and to instead support conservative bodies like the Global Anglican Future Conference (GAFCON).

“The Church of Nigeria (Anglican Communion) condemns, unequivocally rejects, and will not recognize the election of Rt. Rev. Cherry Vann as Archbishop of Wales,” Ndukuba declared. He concluded with a solemn warning that without repentance, the Church in Wales risks losing “complete relevance” and its leaders will face judgment.

 

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Anglican Church Urges Government To Prioritize Citizen Welfare

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Anglican Church in Service

The Primate of the Church of Nigeria Anglican Communion, Most Reverend Henry Ndukuba, has called on political leaders to prioritize the welfare of citizens.

During a recent church service in Abuja, Ndukuba noted that many Nigerians are struggling with challenges brought on by the global economic downturn. He urged state and local governments to implement new initiatives to lessen the impact on their communities.

The Primate also stressed that the federal government must effectively monitor its programs to ensure that Nigerians fully benefit from the nation’s democratic gains. He argued that if the current administration can effectively tackle corruption, the country would significantly benefit from the economic policies of President Tinubu’s government.

Ndukuba concluded by asking the congregation to continue praying for those in authority, remain committed to national unity, and show love and support for the less privileged. He also tasked the newly inducted members of the Church Mothers’ Guild with aggressively spreading the gospel.

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Hardship: A Veil Of Sorcery And Darkness Over Nigeria – Pastor Enenche”

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Pastor Paul Enenche

Senior Pastor of Dunamis International Gospel Centre, Dr. Paul Enenche, has expressed deep concern about the current situation in Nigeria.

Enenche stated that the nation is under an evil spell due to the economic hardship affecting the country. He described Nigeria as being covered by a “blanket of sorcery and darkness,” leading many citizens to endure poverty and hardship in silence.

“There’s a blanket of sorcery and darkness over this nation—an evil spell making people tolerate what should provoke outrage,” he wrote.

In a post on his official X account on Thursday, the cleric highlighted the economic struggles faced by many Nigerians, noting that an increasing number of church members now line up after services not for spiritual counselling or prayer, but to help with basic needs such as rent, school fees, food, and medical bills.

“People are suffering. Pastors are exhausted. Members now queue after service not for prayer, but for assistance,” he lamented.

He also criticised political leaders for their insensitivity and failure to address the dire situation across the country.

“Yet, the leaders act as though nothing is wrong. This is not normal—it is witchcraft. It is a spell of patience in captivity, leading to a demonic tolerance of suffering.”

Calling for divine intervention, Enenche declared, “Let every evil spell over this land be broken! Let those misruling with arrogance and mocking the people’s pain face divine judgment. They shall not see the celebration of their wickedness.”

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