Folarin Kehinde

Nigerians yesterday got an assurance of a better economy next year from the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.

The minister expressed optimism that the country was gradually moving away from factors that has impacted negatively on its economy and the citizenry.

Edun gave the assurance at a meeting with the House of Representatives Joint Committee on National Planning and Economic Development and Finance on the proposed N47.9 trillion 2025 Budget.

The minister gave an overview of next year’s Appropriation Bill.

He said that going by the projection on increased revenue next year and as other measures being taken by the government, there are indications that the country was moving away from factors that had in the past impacted negatively on the Nigerian economy and affected its people.

Edun said the signs show positive indications of a positive performance of the country’s economy in 2025.

He said: “We do have market pricing and foreign exchange that has resulted in a situation whereby upwards of five per cent of the Gross Domestic Product (GDP) has been lost to plurality of factors benefiting just a few and created long-sighted incentives against growth and investment.”

The minister assured that as government revenue goes up, it will help lower debt servicing and borrowing because as the economy improves, it will become more competitive.

He said: “The deficit of that increase which we hope to achieve less but right now we are assuming is about 9.3 trillion naira in new borrowings and the debt service of about two trillion naira.

“In a nutshell, that backdrop gives you the optimism that the 2025 budget estimates, particularly the one on revenue, will be achieved and the economy will be strong. It will fast up to an inclusive and sustainable growth”.

Chairman of the House Committee on National Planning and Economic Development, Ibrahim Ayokunle (APC, Ogun) asked the minister to give an appraisal of the economy.

Ayokunle said: “But briefly, as we have said, what is the state of our economy, number one, as in our finances. Then number two, in terms of our revenue so far with the projections we have for 2025.

Transcorp Hilton Abuja has celebrated another Christmas celebration in glitz and glamour with the tree lighting ceremony.

The General Manager of Transcorp Hilton Abuja Mr Jorg Potreck while speaking over the weekend in Abuja
stated that the tree lighting ceremony symbolises hope, unity, and joy for Nigerians which also reflects the joy, love, and hope that the season brings.

“As we stand here, let us take a moment to appreciate the true spirit of Christmas – the spirit of giving, of caring for one another, and of spreading love. Whether you have been busy preparing for the Year end business, the festive season or just simply enjoying the sights and sounds of the season, let’s remember that the heart of Christmas is found in the connections we share and the kindness we offer.”

Meanwhile, the Managing Director/CEO of Transcorp Hotels Plc Dupe Olusola explained that in the spirit of Christmas, transcorp Hilton will be offering their services at discounted rates to her teeming audiences to enjoy the season to its fullest.

“So, you’ll see already we’re starting to talk about our Christmas offers. You know, we want
families to come here. We want to give discounts to people to bring their families here and
enjoy the leisure.

“So, you know, you can actually shop for gifts, beads, you know, nice things that are locally made. So, we’re really trying to promote more of Nigeria and more of Africa.

“We do great discounts. Particularly at Christmas, we’ll have a festive period, we have special
offers. And all the way into the next year as well”.

She added that as the year progresses, Transcorp Hotels will continue to deliver on world class services in hospitality and expansion of rooms and their event centre.

“We’re going to finish very strong, we’re still happy about the numbers that we’ve achieved so far. Our occupancy, we have at over 83%, you know, for a 677-room hotel. That is exceptionally good.
It means that almost every day of the week we are busy. In terms of our profitability as well, we have
very strong numbers.

“But every year, you know, we strategize and say how can we do things differently to make sure
that we’re running efficiently as a business. We’re keeping an eye on our costs. And we’re being
very innovative and ensuring that we’re bringing new strategies.

“We acquired more land. And now what we’re doing is working on a redesign to ensure that we
can actually deliver the 315 rooms. But there’s so much that we’re looking at.

“In addition to the event center, we’re also excited about actually expanding here. Because one of the things we’ve seen, like I said, we’re doing 83%, which means that almost all our rooms, we’re having to turn back guests. So, now we want to focus very strongly on actually building an extension here.”