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Director General BPE, Alex Okoh test negative of COVID19, speaks from self isolation

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6 years ago

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By Alex Okoh

I greet you warmly in the hope and prayer that you are safe and well in the face of the Covid 19 pandemic. Indeed, the challenge and scale of this strange and sudden infestation, Coronavirus has left the world in a combination of fear, confusion and indignation. The responses have also been a combination of tentative, measured and unmeasured initiatives as the world throws all it knows at a problem that we know so little about. Indeed, it is becoming quite clear that the notion that certain regions will be spared the scourge of this deadly pestilence is an abject fallacy. The world is a mobile village, and in a vibrant and dynamic village, the velocity of  interactions suggest that experiences are easily and rapidly projected and transferred across the community albeit a global one. We are beginning to find out that the matter is closer than we think or would wish.

So, having recently arrived from two “high risk”  and “hot spot l” locations in Europe, I decided to self-isolate last week and observe the mandatory 14 days distancing period. However, two days ago, Tuesday March 24, with the growing number of identified cases in Nigeria, I decided to take the test. The team of the NCDC health workers who conducted the test were extremely professional and I would like to use this opportunity to salute our health workers and officials who are daring the odds and taking significant risks to keep us safe and well. Of course, my sweetheart tops the list. They are doing an incredibly job despite the challenges. God bless you all. The waiting period for the test was quite a testy one. Perhaps one of the most difficult 24 hour period anyone can imagine. Various scenarios were playing out. Those who I had been in contact with kept calling for my result and their panic almost made me develop “psychological” symptoms. Lol! In fact a  colleague of mine who took the result at the time I did called to inform me that he woke up yesterday morning with a headache. I told him that it was a “psychological” symptom and nothing that a solid breakfast wouldn’t cure. He took more than my advise and seized the opportunity to indulge in his favourite pastime. A good meal. 

The result finally came out last night, and it was NEGATIVE for me, my colleague and our spouses. Glory be to God. However, I learnt a lot from the experience of the past few days, and this has affected my perspective of what we are dealing with in the sense of this pandemic, and how we need to rise as one humanity to ensure that we do our best to defeat this global enemy. The first lesson I learnt is that this situation does not call for gloom nor glee. The virus is not contracted by indulging in an irresponsible lifestyle (if you take deliberate unhygienic behaviours out of that definition), such as is sometimes the case with other communicable diseases such as AIDS. 

So there is no need to glee over or stigmatise anyone. Most rational people do not go courting illness. No one deliberately goes looking for Malaria, Cancer or Coronavirus.  Sicknesses generally do not discriminate according to social or economic status or position as we are beginning to better appreciate. Incidentally, the Bureau of Public Enterprises, the agency of Government that I work for has been developing a framework to reform our healthcare sector and the fundamental principle of the reform program is guided by the notion I have alluded to above, that in most cases, sicknesses occur outside the will of the individual victim. No sane person goes courting illness. As such a primary goal and responsibility of government, next to preserving the lives of the citizens is to preserve those lives in good health. This is done through the provision of universal access to a decent and comprehensive healthcare delivery system at little or no cost to the citizen. This is however is a topic for another day, suffice to say for now that I hope the reform program will receive the endorsement of all the stakeholders when the program debuts.

The second lesson, I have learnt from with regards to the Covid 19 pandemic is that the situation we face can easily become incurably overwhelming, if we allow ourselves to be frozen into confusion or worse still, inaction. The question usually asked is “what can I do” or “what is the government doing”?My sense is that we have no time for the luxury of such inquiries. We need to get up and do something and as someone starts, others will follow. We cannot pretend that we know all the issues or have all the information we need to be guided into precise decisions with predictable outcomes, but we need to act in line with what we know and we refine and adapt as we execute. But we certainly can not afford to do nothing. That will be catastrophic and will put the well being of the people at serious jeopardy. 

I am glad to note that already, the famed Nigerian spirit of ingenuity and indomitability is beginning to show up. A wonderful lady who I know quite closely has started to crowdfund, albeit on a small scale, a process through which monies are made available to some of the most vulnerable in our society whose normal sources of income are through daily enterprise, which are being affected by the necessary “stay-at-home order”. That is action. That is an example of what can be done. 

Another friend of mine, of course much wealthier than this lady, has shared with me a plan to convert the “This Day Dome” in Abuja into a 500 bed facility. That is action. That is an example of what can be done. #I will do something. We have all got to be thinking of what we can do in the event that this pandemic egregiously fractures the supply chain of the physical essentials of life and living. Food. Water. Medicine. Electricity. It is my hope that the providers of some of our utilities will show good faith and sensitivity in this situation, by not cutting supply of electricity and telecommunications services. I hope our hospitals also extend humane gestures at this time to critical cases who may be financially constrained. #I will do something.

On my part, I am mobilising both officially and privately to enable a support structure of a supply chain to ensure that basic requirements are delivered to some of the vulnerable groups in my locality, should the situation escalate to such a level. I refuse to sit and do nothing. # I will do something. All said, this is a crisis that requires the resolve of all Nigerians acting in concert. It is not a time for political posturing or blame gaming. We rise to beat this thing together or we will experience such a defeat that leaves no one unscathed no matter how remotely. My responsibility as a citizen demands that I comply with the directives of government. My responsibility as a public officer demands that I take initiatives to provide some solution. However, I have an even bigger  responsibility;  that of an ordained Pastor, and this sacred responsibility demands that, I pray for the healing of my nation. 

2 Chronicles 7:14 (NKJV)

14 if My people who are called by My name will humble themselves, and pray and seek My face, and turn from their wicked ways, then I will hear from heaven, and will forgive their sin and heal their land. May God have mercy and deliver us from this deadly pestilence.

Be safe. Be blessed.

*Alex Okoh is the Director General BPE

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Economy

Nigeria champions African-Arab trade to boost agribusiness, industrial growth

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3 days ago

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December 5, 2025

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The Arab Africa Trade Bridges (AATB) Program and the Federal Republic of Nigeria formalized a partnership with the signing of the AATB Membership Agreement, officially welcoming Nigeria as the Program’s newest member country. The signing ceremony took place in Abuja on the sidelines of the 5th AATB Board of Governors Meeting, hosted by the Federal Government of Nigeria.

The Membership Agreement was signed by Eng. Adeeb Y. Al Aama, the CEO of the International Islamic Trade Finance Corporation (ITFC) and AATB Program Secretary General, and H.E. Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Federal Republic of Nigeria. The Agreement will provide a strategic and operational framework to support Nigeria’s efforts in trade competitiveness, promote export diversification, strengthen priority value chains, and advance capacity-building efforts in line with national development priorities. Areas of collaboration will include trade promotion, agribusiness modernization, SME development, businessmen missions, trade facilitation, logistics efficiency, and digital trade readiness.

The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, called for deeper trade collaboration between African and Arab nations, stressing the importance of value-added Agribusiness and industrial partnerships for regional growth. Speaking in Abuja at the Agribusiness Matchmaking Forum ahead of the AATB Board of Governors Meeting, the Minister said the shifting global economy makes it essential for African and Arab nations to rely more on regional cooperation, investment and shared markets.

He highlighted projections showing Arab-Africa trade could grow by more than US$37 billion in the next three years and urged partners to prioritize value addition rather than raw commodity exports. He noted that Nigeria’s growing industrial base and upcoming National Single Window reforms will support efficiency, investment and private-sector expansion.

“This is a moment to turn opportunity into action”, he said. “By working together, we can build stronger value chains, create jobs and support prosperity across our regions”, Edun emphasized. “As African and Arab nations embark on this journey of deeper trade collaboration, the potential for growth and development is vast. With a shared vision and commitment to value-added partnerships, we can unlock new opportunities, drive economic growth, and create a brighter future for our people.”

Speaking during the event, Eng. Adeeb Y. Al Aama, Chief Executive Officer of ITFC and Secretary General of the AATB Program, stated: “We are pleased to welcome Nigeria to be part of the AATB Program. Nigeria stands as one of Africa’s most dynamic and resilient economies in Africa, with a rapidly expanding private sector and strong potential across agribusiness, energy, manufacturing, and digital industries. Through this Membership Agreement, we look forward to collaborating closely with Nigerian institutions to strengthen value chains, expand regional market access, enhance trade finance and investment opportunities, and support the country’s development priorities.”

The signing of this Agreement underscores AATB’s continued engagement with African countries and its evolving portfolio of programs supporting trade and investment. In recent years, AATB has worked on initiatives across agribusiness, textiles, logistics, digital trade, export readiness under the AfCFTA framework, and other regional initiatives such as the Common African Agro-Parks (CAAPs) Programme.

With Nigeria’s accession, the AATB Program extends it’s presence in the region and adds a key partner working toward advancing trade-led development and fostering inclusive economic growth.

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Economy

FEC approves 2026–2028 MTEF, projects N34.33trn revenue 

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4 days ago

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December 4, 2025

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Federal Executive Council (FEC) has approved the 2026–2028 Medium-Term Expenditure Framework (MTEF), a key fiscal document that outlines Nigeria’s revenue expectations, macroeconomic assumptions, and spending priorities for the next three years. The approval followed Wednesday’s FEC meeting presided over by President Bola Tinubu at the State House, Abuja. The Minister of Budget and Economic Planning, Senator Atiku Bagudu made this known after the meeting.

The Minister said the Federal Government is projecting a total revenue inflow of N34.33 trillion in 2026, including N4.98 trillion expected from government-owned enterprises. Bagudu said that the projected revenue is N6.55 trillion lower than earlier estimates, adding that federal allocations are expected to drop by about N9.4 trillion, representing a 16% decline compared to the 2025 budget.

He said that statutory transfers are expected to amount to about N3 trillion within the same fiscal year. On macroeconomic assumptions, FEC adopted an oil production benchmark of 2.6 million barrels per day (mbpd) for 2026, although a more conservative 1.8 mbpd will be used for budgeting purposes. An oil price benchmark of $64 per barrel and an exchange rate of N1,512 per dollar were also approved.

Bagudu said the exchange rate assumption reflects projections tied to economic and political developments ahead of the 2027 general elections. He said the exchange rate assumption took into account the fiscal outlook ahead of the 2027 general elections.

The minister said that all the parameters were based on macroeconomic analysis by the Budget Office and other relevant agencies. Bagudu said FEC also reviewed comments from cabinet members before approving the Medium-Term Fiscal Expenditure Ceiling (MFTEC), which sets expenditure limits. Earlier, the Senate approved the external borrowing plan of $21.5 billion presented by President Tinubu for consideration The loans, according to the Senate, were part of the MTEF and Fiscal Strategy Paper (FSP) for the 2025 budget.

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Economy

CBN hikes interest on treasury Bills above inflation rate

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4 days ago

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December 4, 2025

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The spot rate on Nigerian Treasury bills has been increased by 146 basis points by the Central Bank of Nigeria (CBN) following tight subscription levels at the main auction on Wednesday. The spot rate on Treasury bills with one-year maturity has now surpassed Nigeria’s 16.05% inflation by 145 basis points following a recent decision to keep the policy rate at 27%. 

The Apex Bank came to the primary market with N700 billion Treasury bills offer size across standard tenors, including 91-day, 182-day and 364 day maturities. Details from the auction results showed that demand settled slightly above the total offers as investors began to seek higher returns on naira assets despite disinflation.

Total subscription came in at about N775 billion versus N700 billion offers floated at the main auction. The results showed rising appetite for duration as investors parked about 90% of their bids on Nigerian Treasury bills with 364 days maturity. The CBN opened N100 billion worth of 91 days bills for subscription, but the offer received underwhelming bids totalling N44.17 billion.

The CBN allotted N42.80 billion for the short-term instrument at the spot rate of 15.30%, the same as the previous auction. Total demand for 182 days Nigerian Treasury bills settled at N33.38 billion as against N150 billion that the authority pushed out for subscription. The CBN raised N30.36 billion from 182 days bills allotted to investors at the spot rate of 15.50%, the same as the previous auction.

Investors staked N697.29 billion on N450 billion in 364-day Treasury bills that was offered for subscription. The CBN raised N636.46 billion from the longest tenor at the spot rate of 17.50%, up from 16.04% at the previous auction.

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