Thursday, September 23

Tag: Economy

We must suffer to get things right, stop cursing your leaders – Sanusi tells Nigerians
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We must suffer to get things right, stop cursing your leaders – Sanusi tells Nigerians

Former Emir of Kano, Sanusi Lamido Sanusi has told Nigerians to stop cursing their leaders over hardship. The former Governor of the Central Bank of Nigeria and leader of the Tijjaniyya Sect in Nigeria, said this while addressing members of the Sect from seven states of the North West, in Sokoto on Tuesday September 21. According to Sanusi, people must suffer for things to get right. He said; “In my own knowledge about economy, I know that we must suffer to get things right. “What is expected of us now is patient, fervent prayers and we must stand up to get things better in our own way through a legitimate ways. “We must desist from abusing or cursing our leaders because the Holy Prophet is against that. “And we will not involve ourselves in corrupt practices and other ...
Sit-at-home is against Igbo interest – Former Governor of Enugu state, Chimaroke Nnamani
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Sit-at-home is against Igbo interest – Former Governor of Enugu state, Chimaroke Nnamani

Former Governor of Enugu state, Chimaroke Nnamani has said that the sit-at-home order instituted by proscribed Indigenous People of Biafra (IPOB) and observed in south-east states on Mondays, is against Igbo interest. The Senator representing Enugu East in a statement released on Sunday September 12, said IPOB’s order has negatively affected the economy and social life in the south-east. Nnamani stated that in the struggle for equity and justice in the Nigerian federation, Igbos cannot inadvertently inflict more injuries on themselves with the sit-at-home order. The statement read;   "The Igbo character is defined by hard work, and that the sit-at-home order is antithetical to this trait and a betrayal of Igbo interest. “Most of our people live on daily income. Thi...
If Buhari has done nothing, he has improved the value of land in your village – Amaechi tells Nigerians
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If Buhari has done nothing, he has improved the value of land in your village – Amaechi tells Nigerians

Minister of Transportation, Rotimi Amaechi has stated that value has been added to the lives of Nigerians by the Buhari-led administration. Reiterating that the infrastructural projects embarked upon by the current administration has rubbed off positively on people in different ways in an interview with Daily Trust, the Minister maintained that most of the problems people are blaming this government for predates it. Amaechi added that even if Buhari has done nothing since he was elected, he has increased the value of lands in villages as people are now competing in the purchase of lands following the construction of railways and roads. He said; “They blame us for insecurity, but they must not forget that the reason there is insecurity is that the economy does not empower Nige...
Zambia’s new president vows ‘no Zambian will sleep hungry’ as he assumes office
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Zambia’s new president vows ‘no Zambian will sleep hungry’ as he assumes office

Zambia's new president, Hakainde Hichilema has vowed to turn around the economy of the country, plagued by a colossal debt, promising that no Zambian will sleep hungry. Hichilema was sworn in on Tuesday before thousands of supporters at the Heroes Stadium in Lusaka. "I swear to faithfully and diligently fulfill my duties," he said during his swearing-in while holding a bible. "We have shown the world the resilience of our democracy," said the man known on the street as "HH" or "Bally," an affectionate term for an elder. "The cost of living will soon be a reality," he said on Tuesday, while inflation has made basic necessities unaffordable for a population where more than half live below the poverty line. Zambians must be able to eat "three decent meals a day". "Truly free" ...
Osinbajo has not Joined 2023 Presidential race – Spokesman
Politics

Osinbajo has not Joined 2023 Presidential race – Spokesman

Laolu Akande, spokesperson of Vice President Professor Yemi Osinbajo has said that his principal has not indicated any interest in joining the 2023 presidential race. In a statement issued on Monday August 23, Akande stated that Osinbajo is currently focused on working in his capacity as the Vice President to address the various challenges facing the country, including finding effective and lasting solutions to the security challenges and working to further boost the economy. The statement read; “The Office of the Vice President is not in any way connected with the distribution and deployment of any 2023 political posters whether on the streets or in online videos, banners and the like on social media. “All these are simply needless distractions from the urgent tasks of gover...
We’ve Spent N502.3bn on COVID19 intervention – Finance Minister
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We’ve Spent N502.3bn on COVID19 intervention – Finance Minister

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, has revealed that the Federal government has so far spent N502.3 billion to stabilize the economy after being hit by the rampaging COVID-19 pandemic. The Sun reports that Ahmed made the disclosure while speaking at the national dialogue on COVID-19 economic impact and assessment of national and states’ recovery plans and policy options in Abuja on Tuesday, August 10. According to the Minister, Nigeria was deeply affected by the pandemic because it was recovering from recession before COVID-19 led to an all-time fall of crude oil prices being the economic pillar of the country. According to Ahmed, the key interventions the N502 billion was used for include: the establishment of an N500 billion COVID-19 crisis in...
COVID-19: Nigerians urged to embrace e-commerce
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COVID-19: Nigerians urged to embrace e-commerce

Nigerians have been encouraged to look towards the area of e-commerce to assuage the negative impact of the COVID-19 pandemic on the economy. An economic expert, Amb. Ubong Brownson who stated this in a media interaction on Tuesday in Uyo, Akwa Ibom State, urged Nigerians to diversify their streams of income by cashing into online businesses as the third wave of COVID-19 is taking a toll on the economy. The Expert, however, warned them not to fall prey to investing in an online business without products to sell saying that such platforms are mere pyramid schemes or ponzi and would not be sustained. He said “The COVID-19 pandemic changed the world. As bad as the pandemic has been and the losses it brought because of the lockdown to some nations economies, it also became an eye-open...
Insecurity: Instead of Confronting President Buhari, we should be praying for him – Gowon tells Nigerians
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Insecurity: Instead of Confronting President Buhari, we should be praying for him – Gowon tells Nigerians

Former Head of State, Gen. Yakubu Gowon (rtd), has advised Nigerians to pray for President Buhari instead of confronting him over the high level of insecurity in the country. The former Head of State gave the charge at the 23rd anniversary and founder’s day celebration of Peace Corps of Nigeria (PCN), with the theme: Rejigging the security architecture: imperatives for a second line of public safety; the Nigerian Peace Corps perspectives, at the Obasanjo Space Centre, Abuja on Saturday, July 10. Represented at the event by a former military governor of Bauchi State, Major General Chris Garuba (rtd), Gowon said the problems in the country are also weighing the President down. “There is no nation in Africa that does not have challenges. Be it economy or security. Countries have ch...
We Dedicate the Next Decade to Gas, it’s Nigeria’s hope for Economic Development – FG
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We Dedicate the Next Decade to Gas, it’s Nigeria’s hope for Economic Development – FG

The Federal Government of Nigeria has stated it's desire to increase the country's dependence on Gas, describing the natural resource as the nation's new source of development for the next decade. The Minister of State for Petroleum Resources, Chief Timipre Sylva noted that there was a need to focus on gas as a bridge to renewable fuels. “Last year we declared 2020 the year of gas because we realised that we need to focus on gas as a bridge to renewable fuels and we have abundant gas resources, so we need to take advantage of it,” he said in an interview with the News Agency of Nigeria (NAN). Sylva said the Federal Government is now paying greater attention to gas development because it provides a bigger linkage to the economy than crude oil. “Gas is produced and it can be tr...
Naira crashes to 4-year low, the Weakest since 2017
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Naira crashes to 4-year low, the Weakest since 2017

The Naira has crashed to a four-year low in the parallel market after the Central Bank's efforts to coax banks to sell more Dollars to customers failed to bridge the widening gap between the official and street rates. Unauthorized dealers were offering the naira at 502 per dollar on Wednesday, June 16, from 500 last week, according to abokifx.com. That's the weakest since February 2017. The rate widens the spread between the official and the parallel market rate to 22% when compared with the spot rate of 411.13 Naira a Dollar as of Wednesday. Nigeria, Africa's biggest economy, has devalued its currency thrice since March last year as lower oil income, which accounts for about 90% of dollar earnings, put pressure on external reserves. Goldman Sachs Group Inc. forecasts the Nai...
PDP grieves over FG’s action over Twitter because it represents the curtailment of using the platform to spread fake news – Presidency
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PDP grieves over FG’s action over Twitter because it represents the curtailment of using the platform to spread fake news – Presidency

The Presidency has reacted to a communique Governors elected on the platform of the Peoples Democratic Party issued, over the ban of Twitter's operation in the country.   The opposition party had asked President Buhari to review the ban on Twitter in Nigeria “in national interest”. The PDP had described the ban as "early warning signs of descent into dictatorship" and further stated that "the mere ego of Mr President is not enough for such a drastic action that deprives millions of Nigerians of such an affordable means of expression and communication."   However reacting to this, Presidential aide Garba Shehu alleged that PDP's grieviance over the ban is that it "curtails their ability to use the platform to spread fake news and invented stories to the detriment of co...
June 12: Let’s Bury our Differences, tackle Insecurity – Buhari’s aide, Enang to Political Actors
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June 12: Let’s Bury our Differences, tackle Insecurity – Buhari’s aide, Enang to Political Actors

  The Senior Special Assistant to President Muhammadu Buhari on Niger Delta Affairs, Ita Enang has urged all the actors in different political parties to set aside their differences and join hands in tackling the insecurity bedevilling the country. The Presidential aide and former Senator made the plea on Saturday in a press briefing at the NUJ Press Centre in Uyo as part of activities to mark the June 12, Democracy day celebration. Enang who urged political parties to downplay politicking said the atmosphere of insecurity in the country has become tensed such that all hands must be on deck to address the situation. He said such would help to restore peace in the country, adding that politicking thrives in an atmosphere of peace. His words, “The challenges of insecu...
Influencer spotted in economy seat after posting photo in business class
News

Influencer spotted in economy seat after posting photo in business class

An influencer has been questioned by her fans after posting a picture of herself in the business class section of a plane – before ‘returning to her seat in economy’. Oceane El Himer, 27, uploaded a photo to her Instagram profile for her 846,000 followers but a fellow passenger claimed they then spotted her taking her seat in economy. Dressed in a green and purple tracksuit, Oceane, from Bordeaux, France, struck a model pose with the business class section of the plane visible in the background. But a second image, which has since been shared on Twitter, shows her sitting in an economy seat with her phone in her hand, looking into the aisle. The image uploaded by Oceane, which received more than 100,000 likes, was captioned “next Stop – Monaco Je fly toute la night”, which transl...
Naira is in the Best Possible Health it can be – Garba Shehu
News

Naira is in the Best Possible Health it can be – Garba Shehu

Presidential spokesperson, Garba Shehu has said that the Naira which appreciated at the importer & exporter (I&E) window by 0.1 percent to N411/$1 but depreciated by 0.4 percent to N495/$1 in the parallel market, is in the best possible health it could be in. The Presidential spokesperson who said this on a Channels Television programme when presented with statistics on how the economy fared in 2015 compared with 2021, maintained that only the Nigerian economy is recording “positive growth” in Africa amid the COVID-19 pandemic. Shehu further stated that whoever questions the capacity of the present government to manage the economy, needs to have themselves re-examined. He said; “If you ask me this question, I will tell you that whoever questions the capacity of the go...
Pastor Okotie Throws his Weight behind restructuring as he suggests ways in solving the different crisis in Nigeria
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Pastor Okotie Throws his Weight behind restructuring as he suggests ways in solving the different crisis in Nigeria

Senior Shepherd of the Household of God Church International Ministries in Lagos, Rev Chris Okotie, has proffered two solutions which according to him, if implemented, could help salvage Nigeria from its current crises. In a statement titled, ‘Major Crisis Imminent, Okotie Warns.', the clergyman said the restructuring of the country to accommodate fiscal federalism and a total replacement of the 1999 Constitution are the two remedies to save the most populous black nation on earth. He, however, added that Nigeria will experience rebirth after a major crisis “Nigeria is at the cusp of a major crisis which is a precursor to its rebirth. Pristine forces which have been a perennial impediment to the fulfilment of Nigeria’s prophetic destiny are about to be pulverized,” the statement...
Photos: President Buhari Departs for France
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Photos: President Buhari Departs for France

President Buhari has departed Abuja for Paris, France where he would be attending the African Finance Summit. The summit will review the African economy, following shocks from the COVID-19 pandemic and getting relief, due to the increasing debt burden on countries. During the four-day trip, Buhari will also meet with Emmanuel Macron, president of France. President Buhari and President Macron are expected to discuss the growing security threats in the Sahel and Lake Chad region, climate change, economic ties, political relations, partnership to improve Nigeria’s health sector, and contain the spread of COVID19. See more photos below
Insecurity: We are working very hard, I hope Nigerians will understand- President Buhari
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Insecurity: We are working very hard, I hope Nigerians will understand- President Buhari

President Buhari says he hopes Nigerians showing more understanding to his government as they work very hard to tackle insecurity in the nation. The President said this when he spoke to state house correspondents shortly after observing the Eid prayer, marking the end of the month-long Ramadan fast. The President said the menace of bandits and kidnappers will be addressed to ensure that the nation’s food security is not threatened. “With the resources and manpower available to us, we are working very hard. We are hoping Nigerians will understand the problem. Nigerians know at what stage we came in 2015, what state we are today both on security and the economy and we are doing our best. The law enforcement agencies are working hard to regain confidence against the bandits, so tha...
News We’re fighting insecurity, be more understanding – Buhari to Nigerians
News

News We’re fighting insecurity, be more understanding – Buhari to Nigerians

President Muhammadu Buhari on Thursday pledged that his administration will deal with bandits to ensure that they do not create havoc against access to farms and food production. He spoke to reporters at the State House after observing the Eid prayer, marking the end of the month-long Ramadan fast. Buhari assured that law enforcement agencies are working hard to regain confidence among Nigerians. On ongoing efforts to tackle insecurity, Buhari drew attention to the series of meetings held in recent weeks. The President said part of the resolutions had been made public by the National Security Adviser and the others kept secret. “We are working very hard. We are hoping Nigerians will understand the problem. Nigerians know at what stage we came in in 2015, what state...
Lagos Begins Installation of 2,000 CCTV Cameras
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Lagos Begins Installation of 2,000 CCTV Cameras

Lagos State Government says it has commenced the installation of 2,000 Closed-circuit television (CCTV) cameras across the state. The state Commissioner for Science and Technology, Hakeem Popoola Fahm, disclosed this at a ministerial press briefing on Tuesday, May 4, to commemorate the second year in office of Governor Babajide Sanwo-Olu led administration. Fahm said the number of CCTV cameras installed is increasing day by day, but, already, 100 CCTV cameras had been installed in Ikeja metropolis.  The Commissioner added that upon completion, the project would advance Lagos state economy by becoming a 24-hour driven commercial centre, which would allow companies to operate in a safe, secure and smart environment that would create more jobs and increase Gross Domestic Product of ...
US Secretary Of State, Antony Blinken To Meet With Buhari Over Security, Economy
Politics

US Secretary Of State, Antony Blinken To Meet With Buhari Over Security, Economy

The US Secretary of State Antony Blinken is billed to conduct his first virtual trip to Africa from tomorrow; he will meet Presidents Kenyatta and Buhari of Kenya and Nigeria respectively, amongst other groups. He is also expected to meet with Nigeria's Foreign Affairs Minister, Geoffrey Onyeama where issues of lasting security, economic diversification and shared relationshipa will be discussed. Secretary Blinken’s Virtual Travel to Africa PRESS STATEMENT NED PRICE, DEPARTMENT SPOKESPERSON APRIL 26, 2021 Secretary of State Antony J. Blinken will embark tomorrow, April 27, on his first virtual trip to Africa, where he will visit Kenya and Nigeria and engage with young people from across the continent. Secretary Blinken will begin his virtual travel to Africa meeting wi...
Man throws ram party in Katsina to celebrate Buhari’s return from UK medical trip; says the President is the best thing to happen to Nigeria
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Man throws ram party in Katsina to celebrate Buhari’s return from UK medical trip; says the President is the best thing to happen to Nigeria

A staunch supporter of President Muhammadu Buhari threw a ram party in Katsina to celebrate his return after two weeks in the United Kingdom. Abubakar Rabiu, popularly called Abu Albarka, hosted the party at a popular restaurant opposite the takeoff site of the Federal University Dustin-Ma on Friday, April 16. Daily Trust reports that Rabiu, known for his staunch support for Buhari, has made it a culture to slaughter rams and throw party every time the president return home from abroad, especially on a medical trip. The latest one is said to be his 8th party. The party was graced by other Buhari supporters, who broke fast together and prayed for the unity and progress of Nigeria as well as Buhari’s health. "This time about 40 people attended the feast to break their fas...
Qatar To Invest $5 Billion In Nigeria’s Economy
Politics

Qatar To Invest $5 Billion In Nigeria’s Economy

The FG has disclosed that the Middle-East nation of Qatar is set to invest in the Nigerian economy the sum of $5 billion. The Federal Government has said that the oil-rich state of Qatar plans to invest $5 billion in the Nigerian economy. According to a statement by the Deputy Director of Information, State House, Mr Abiodun Oladunjoye, this disclosure was made by the Federal Minister of Foreign Affairs, Geoffrey Onyema, while speaking at a farewell dinner in honour of Nigeria’s Ambassador-designate to the state of Qatar, Ambassador Yakubu Ahmed, who is also the outgoing Director of Protocol at State House. Onyeama said that there had been discussions with Qatar on partnership with Nigeria’s Sovereign Wealth Fund, for significant investments in the region of $5 billion in the ...
Enjoy the Jerusalema dance challenge by the staff of SWIFT Networks Ltd
Lifestyle

Enjoy the Jerusalema dance challenge by the staff of SWIFT Networks Ltd

The staff of SWIFT Networks Ltd, a leading residential and business broadband service provider, took up the trending Jerusaema dance challenge as part of the company's long standing tradition of community service to create awareness on Covid-19 and accelerate its eradication. SWIFT strongly believes that practicing the recommended compliant measures and getting vaccinated as soon as possible, we all can together put an end to the COVID-19 pandemic to restore growth to our economy and lifestyle. Here is the Instagram, Facebook and Twitter links of the video. https://www.instagram.com/p/CND7SDfg_9q/ Twitter: https://twitter.com/i/status/1377044519942815748 Facebook: https://fb.watch/4KJAIiAjCy/  
The economy remains weak with too much unemployment and resources left idle – Tinubu
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The economy remains weak with too much unemployment and resources left idle – Tinubu

Former Governor of Lagos state and chieftain of the All Progressives Congress, Bola Tinubu has stated that the Nigerian economy has remained weak with too much unemployment and resources left idle even after the exit from recession. Tinubu who delivered a speech as the chairman of the 2021 Sardauna Memorial Lecture held in honour of one of Nigeria’s founding fathers, the late Sir Ahmadu Bello, stressed the need to cut down on wasteful spending among government officials to ensure Nigerians benefit from the economy. He said;  “In the midst of our local challenges came the COVID-19 pandemic, with its debilitating impact on the global and domestic economies. Nigeria, like many other countries, has not been spared the impact of the pandemic. “Commendably, however, President Muham...
Nigeria’s Rising Debt Servicing Is An Economic Threat – SEC
Politics

Nigeria’s Rising Debt Servicing Is An Economic Threat – SEC

The increasing debt service of Nigeria is an economic threat to the country, the Securities and Exchange Commission declared on Thursday. But this might not stop the Federal Government from borrowing to fund the 2021 budget, as the Minister of Finance, Budget and National Planning, Zainab Ahmed, insisted that government had to borrow. In January, The PUNCH reported that Nigeria spent almost N2tn on debt servicing payments from January to September 2020, based on data obtained from the Debt Management Office. At the 5th Annual Budget Seminar of the Securities and Exchange Commission with the theme, “Financing Nigeria’s budget and infrastructure deficits through the capital market,” the SEC also stated that shocks to commodities were affecting revenue generation. It disclosed...
Ex-Kebbi Senator, Umaru Tafidan Argungu arraigned for N419m alleged fraud in Sokoto
Crime

Ex-Kebbi Senator, Umaru Tafidan Argungu arraigned for N419m alleged fraud in Sokoto

Umaru Tafidan Argungu, a former Nigerian senator has been arraigned for N419m alleged fraud in Sokoto. The 61-year-old was arraigned on Monday, March 1, before Justice Mohammed Mohammed of the Sokoto State High Court on one count charge of criminal misappropriation of public funds to the tune of N419, 744, 612. 30 (Four Hundred and Nineteen Million, Seven Hundred and Forty-Four Thousand, Six Hundred and Twelve Naira, Thirty Kobo). The former Senator who represented Kebbi North in the 6th Senate under the People's Democratic Party (PDP), is alleged to have diverted the said sum which was paid by the Sokoto State government as 40percent equity stake in Hijrah Investment Nigeria Limited, owners of Hijrah Textile Ltd. According to the Economic and Financial Crimes Commission, EFCC, th...
The Level of Nigeria’s Borrowing is Not Unreasonable And is not High – Finance Minister, Zainab Ahmed
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The Level of Nigeria’s Borrowing is Not Unreasonable And is not High – Finance Minister, Zainab Ahmed

The Minister of Finance, Zainab Ahmed, has said that Nigeria cannot make progress if it doesn't borrow to fund the building of its infrastructure. Ahmed at a media briefing at the statehouse Abuja on Thursday February 25, said this while reacting to criticism regarding high levels of borrowing by this administration. In her words ''The level of borrowing is not unreasonable. It is not high. If we say we will not borrow and therefore we will not build rails and major infrastructure until our revenue rises enough, we will regress as a country. We will be left behind. We wouldn't be able to improve our business environment and our economy will not grow. We just need to make sure that when we borrow, we apply the borrowing to specific major infrastructure that would enhance the b...
After Recession, Economy On Stable Growth – Zainab Ahmed
Politics

After Recession, Economy On Stable Growth – Zainab Ahmed

The Minister of Finance, Budget, and National Planning, Hajiya Zainab Ahmed, has said Nigeria’s exit from recession is a key indicator that the country is poised for stable and consistent growth. The minister said this on Wednesday while briefing State House reporters after the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari. She said the exit from recession was an indication that the diversification efforts were yielding results and that there has been a vigorous implementation of the Economic Sustainability Plan (ESP) approved by FEC last June with Vice President Yemi Osinbajo leading the drive. Nigeria’s economy unexpectedly came out of a recession in the fourth quarter as growth in agriculture and telecommunications offset a sharp drop i...
North Korea Accused of Trying to Hack Pfizer for Covid-19 Vaccine Info
News

North Korea Accused of Trying to Hack Pfizer for Covid-19 Vaccine Info

North Korean hackers tried to break into the computer systems of pharmaceutical giant Pfizer in a search for information on a coronavirus vaccine and treatment technology, South Korea’s spy agency said Tuesday, Feb 16 North Korea has been under self-imposed isolation since closing its borders in January last year to try to protect itself from the virus. Leader Kim Jong Un has repeatedly insisted that the country has had no coronavirus cases, although outside experts doubt those assertions. And the closure has added to the pressure on its tottering economy from international sanctions imposed over its banned weapons systems, increasing the urgency for Pyongyang to find a way to deal with the disease. Seoul’s National Intelligence Service “briefed us that North Korea tried to...
Zimbabwe receives first batch of COVID-19 vaccines
News

Zimbabwe receives first batch of COVID-19 vaccines

President Emmerson Mnangagwa on Monday February 15, announced that Zimbabwe has received its first batch of COVID-19 vaccines. President Mnangagwa in his tweet also announced the country will start COVID-19 vaccination this week. He tweeted;   “The first batch of vaccines for Zimbabwe has been successfully delivered. We start vaccinating Zimbabweans this week! “The faster our country is protected against this virus, the faster Zimbabwe’s economy can flourish." Zimbabwe Health Ministry had earlier on Friday said it will begin its Covid-19 vaccination campaign this week. The ministry said it expects to take delivery of the first shipment of 800,000 vaccine doses, 200,000 of which were donated by the Chinese government.
Presidency Should be Zoned to the South in 2023 – Governor Ganduje
Politics

Presidency Should be Zoned to the South in 2023 – Governor Ganduje

Governor Abdullahi Ganduje of Kano state has said that the presidency in 2023 should be zoned to the South. Speaking in an interview with Channels Television’s Politics Today which aired on Friday February 12, Ganduje said that though zoning is not enshrined in the constitution, it is however a strategy for winning elections. He said; “The Southern part of the country but there should be a consensus of the members. “Zoning system even though it is not in the constitution of the Federal Republic of Nigeria, it is a strategy for winning elections.” When asked if the ruling All Progressives Congress (APC) has done well for Nigerians since coming into power in 2015, the Kano state Governor said the ruling party under President Muhammadu Buhari’s leadership improved on Nigeria’s ...
Wear Your Face Masks to Avoid Another Lockdown – Presidency Warns Nigerians
News

Wear Your Face Masks to Avoid Another Lockdown – Presidency Warns Nigerians

The Presidency has warned Nigerians to obey all the COVID19 protocols which include wearing a face mask so as to avoid the government from imposing another lockdown. The warning came via a statement signed and released by Garba Shehu, senior special assistant to the president on media and publicity. The presidency said it is worried by reports of non-compliance with the executive order signed by President Buhari on January 27 that mandates the use of face masks and social distancing. The law stipulates that any defaulter of the COVID19 protocols will be asked to pay a fine or sentenced to 6 months in jail or both. According to the statement, President Muhammadu Buhari signed the executive order with the best of intentions and not with the motive of punishing citizens. “The Presi...
We Borrow To Finance Budget Because Of Dwindling Revenues – Buhari
Politics

We Borrow To Finance Budget Because Of Dwindling Revenues – Buhari

President Muhammadu Buhari has explained that his administration has been borrowing money to finance the economy and development as a result of dwindling revenues. Speaking, virtually, on Thursday at the First National Tax Dialogue held at the Conference Hall of the State House in Abuja, President Buhari, however, tasked the Federal Inland Revenue Services (FIRS) and other relevant government agencies to explore all standard practices to boost revenue. According to him, the FIRS must ensure to plug all revenue leakages by ensuring strict compliance of tax payments by foreign companies operating in Nigeria, urging the deployment of more digital platforms and seamless connections. He noted that the tax dialogue became imperative for the administration at the moment because of th...
Biden administration halts student loan repayment and keeps interest rate at 0%
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Biden administration halts student loan repayment and keeps interest rate at 0%

Following a request from President Biden, the Education Department said Wednesday, Jan 20, it would extend the suspension of federal student loan payments through Sept. 30. This is in fulfilment of Biden’s pledge to give borrowers some breathing room as the economy struggles to find its footing. "Too many Americans are struggling to pay for basic necessities and to provide for their families," the Education Department said in a statement Wednesday. "They should not be forced to choose between paying their student loans and putting food on the table." In the statement, the acting secretary of education added that the agency would extend the pause on federal student loan payments and collections and keep the interest rate at 0 percent. Biden’s request for the extension was part o...
Small Businesses Are Engines Of Growth Of Any Economy – Osinbajo
Politics

Small Businesses Are Engines Of Growth Of Any Economy – Osinbajo

Vice President Yemi Osinbajo has said that small businesses are the engines of growth of any economy, especially in the areas of wealth creation and employment opportunities. Prof. Osinbajo also said that in partnership with the private sector, the Federal Government would continue to support innovation and interventions to boost the growth of small businesses across the country. This he said would improve the economy and create more employment opportunities for Nigerians. Speaking on Monday in Abuja at the first meeting of MSMEs stakeholders for the year 2021, Osinbajo urged stakeholders in the public and private sectors at the virtual meeting to be innovative in the interventions planned for small businesses across the country, to consolidate on the gains recorded in the MSM...
Governor Fayemi Says State Governors will take COVID19 Vaccine on Live Television
News

Governor Fayemi Says State Governors will take COVID19 Vaccine on Live Television

Ekiti state governor and the Chairman of the Nigerian Governors Forum, Kayode Fayemi, has said that state governors will be taking the COVID19 vaccines on live television to demonstrate to their residents that the vaccine works. Governor Fayemi disclosed this to state house correspondents after a closed-door meeting with President Buhari where security, the economy, and vaccine management were discussed. When asked if governors will also take the vaccine on live television, Governor Fayemi said “Absolutely. We too will like to demonstrate to our citizens that we believe that vaccines would work. Don’t forget, we have a lot of experience on this. Governors Forum managed the polio vaccines administration in the country and we have garnered a lot of experience'' He also noted ...
Former French President Valéry Giscard d’Estaing dies at 94 after contracting Covid-19
News

Former French President Valéry Giscard d’Estaing dies at 94 after contracting Covid-19

Former French president, Valéry Giscard d’Estaing, who became a champion of European integration in the early 1970s, has died at the age of 94 after contracting Covid-19.   Giscard, who served as France’s leader from 1974 to 1981, had recently been hospitalised in Tours with respiratory problems and was released only to return back to the hospital in mid-November.   He died at his family home nearby after suffering from complications linked to the virus, according to a statement issued by the foundation he had set up and chaired.   “His state of health had worsened and he died as a consequence of Covid-19,” his family said in a statement to AFP.   The Foundation Valéry Giscard d’Estaing tweeted: “In accordance with his wishes, his funeral will ta...
Restructuring is not as critical as hunger and poverty – Amaechi
News

Restructuring is not as critical as hunger and poverty – Amaechi

The former Governor of Rivers state who spoke in an interview on Channels Television stated that while the calls for restructuring of the country may not be bad, however tackling hunger and poverty is more critical to the federal government.   Amaechi said;   “If to you what is important is restructuring, I don’t see anything wrong with restructuring but I am saying it is not the most critical problem we have.  “The most critical problem we have is that hunger and poverty are breeding insecurity. “If you are able to create employment, you create security. If you like hire as many men as you want to hire that are policemen, you would do nothing until you put food in the hands of people. “When you do not create a legitimate economy, the people will create for the...
Lifestyle

THC is on the Rise, What To Expect

As time goes on, we begin to wonder what the future will look like. The next generation will be more informed about politics, social issues, and the economy but what about medicine. There are lots of alternative health medicines out there and maybe it's time you try them instead of sticking with usual over the counter prescriptions.  One of those medicines is THC or cannabis. There are many ways to use cannabis but an easy way is by eating THC gummies which are actually quite tasty, click here to know about more ways. There are more methods like smoking and oils that will be discussed later on and it is important to figure out which method is best for you. But before anything, what is THC? THC, or tetrahydrocannabinol, is the main compound inside the cannabis plant that produces a ps...
Governor Sanwo-Olu suspends director for imposing 5% levy on all audio and visual content
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Governor Sanwo-Olu suspends director for imposing 5% levy on all audio and visual content

The Executive Secretary of the Lagos State Film and Video Censors Board, Bamidele Balogun has been suspended by Governor Jide Sanwo-Olu over the imposition of a 5% levy on all audio and visual content streamed on all phyical and digital platforms around Lagos.   LIB reported earlier that in one letters addressed to the Managing Director of Iroko TV, the Lagos State Film and Video Censors Board requested for the "immediate payment of 5% levy on all audio and visual content produced, sold, distributed, marketed, exhibited, streamed, downloaded and shared across all physical and digital platform situate, lying and being within the state."   Lagos state Commissioner for Information and Strategy, Gbenga Omotosho later disclosed that the Executive Secretary was not authoris...
2023: I’ll build a 20th century economy if Nigerians make me President- Orji Uzor Kalu
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2023: I’ll build a 20th century economy if Nigerians make me President- Orji Uzor Kalu

Former Abia state governor and current Senate chief whip, Orji Uzor Kalu, says he will build a 20th-century economy in Nigeria if Nigerians make him president come 2023. Kalu said this on a programme at a radio station in Umuahia, Abia state capital while speaking on his presidential ambition in 2023. According to him, he is more than capable to do the job of a president.  “Yes, if you give me the presidency, why not, I will take. I am capable of doing the job. The problem is who is capable of doing the job. For now, I am focusing on my constituency; there is a lot of job to be done. If you give me opportunity, I will like to go back to the Senate for a second term, but if the people of Nigeria want me to be president, they will show the hand. I can do the job. I can build a 20th...
Fashion, Tourism Contribute N3.2trn To Economy ― Lai mohammed
Politics

Fashion, Tourism Contribute N3.2trn To Economy ― Lai mohammed

The fashion industry, hospitality and tourism contributed over N3.2 trillion to the national economy, a report by the Federal Government’s Post COVID-19 Initiative Committee on the Creative Industry has revealed. The minister of Information and Culture, Alhaji Lai Mohammed on Thursday, gave an insight into the report recently submitted to the government by the committee led by ace comedian, Ali Baba. Mohammed, who was a guest on NAN Forum in Abuja, said that the recommendations by the committee, set up to advise the government on how to mitigate the effects of COVID-19 on the creative industry, were revealing. He disclosed that an implementation committee will be set up on Tuesday, to determine which of the recommendations will be sent to the Federal Executive Council for pol...
Bill Gates is Leading an Agenda to Destabilize the World- Rev. Chris Okotie
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Bill Gates is Leading an Agenda to Destabilize the World- Rev. Chris Okotie

Rev. Chris Okotie, the Senior Pastor of the Household of God Church International Ministries has accused Bill Gates, Microsoft founder of leading a global conspiracy to destabilize the world economy and execute a “satanic agenda” against the church. The Church leader who made the allegation in an 80-minute video shared on YouTube, alleged that Gates is conniving with some powerful people to achieve the sinister objectives. Okotie who quoted diverse scriptures to back his claim, used biblical numerology to explain the names of three generations of the Gates family vis-à-vis their scriptural equivalents and their roles in the dispensational dealings of God with man.   He also explained how the roles of various key Bible characters like the Lord Jesus Christ, Adam, Eve, S...
Maids Dumped Outside Beirut Embassy
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Maids Dumped Outside Beirut Embassy

Some Ethiopian maids have been dumped outside the country's embassy in Beirut by their employers who can no longer afford to pay their salaries, following the collapse of the Lebanese economy. The maids were left to sleep on the pavement of the country's embassy following the ongoing economic crisis in Lebanon heightened by the Coronavirus pandemic, which also led to Lebanese's currency losing 70% of its value in the past six months. DPA news agency reported that there are about 250,000 migrant workers in Lebanon, many of whom are employed by many middle-class households as domestic staff. Telegraph reported that a large proportion of the domestic staff employed by the middle-class households are from Ethiopia, the rest are from other African and Asian countries. The first gro...
60% of Coronavirus Cases in Nigeria Were Recorded in 20 Local Governments – PTF
News

60% of Coronavirus Cases in Nigeria Were Recorded in 20 Local Governments – PTF

The Presidential Task Force on COVID-19 (PTF) has revealed that 60 percent of the Coronavirus cases in the country were recorded in 20 local government areas. The Chairman of PTF and Secretary to the Government of the Federation, Boss Mustapha revealed this while receiving a donation of Personal Protective Equipment (PPE) worth N10 million from Rotary District 9125. Mustapha who was represented by the Permanent Secretary (General Services Office), Olusegun Adekunle, listed the local government areas as follows; Mainland, Abuja Municipal, Mushin, Eti-Osa, Tarauni, Katsina, Alimosho, Maiduguri, Kosofe, Dutse, Ikeja, Nassarawa, Oshodi/Isolo, Apapa, Amuwo Odofin, Oredo, Bauchi, Lagos Island, Surulere and Ado Odo/Ota. He blamed the increased cases of Coronavirus recorded in the cou...
Lagos Government Launches Register-to-open Initiative of the economy amid Coronavirus pandemic
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Lagos Government Launches Register-to-open Initiative of the economy amid Coronavirus pandemic

The Lagos state government has launched a Register-to-Open Initiative for religious and social centres, social clubs, event centres, restaurants, bars, night clubs, spas, cinemas and gyms ahead of the gradual re-opening of the state economy. Governor Babajide Sanwo-Olu had on May 17 debunked claims of absolute reopening of the state's economy. The Governor said;   “In the coming days, we will be starting what we call Register-to-Open, which means all players in the restaurant business, event centres, entertainment, malls and cinemas will go through a form of re-registration and space management. “There is a regulation that will be introduced to supervise this move. We will be coming to their facilities to assess their level of readiness for a future opening. “I d...
Singapore Warns Of Worst Economic Contractions Since Independence
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Singapore Warns Of Worst Economic Contractions Since Independence

Singapore’s embattled economy could shrink by as much as seven percent this year, which would be the worst reading since independence, with the government saying Tuesday the coronavirus pandemic had throttled the key export sector, AFP reports. The city-state is seen as a bellwether of the global economy and the historic contraction highlights the extreme pain being wrought on countries by the killer disease. The warning also came hours before Singapore’s deputy prime minister is expected to unveil another stimulus package for the troubled city, which has been crippled by months of lockdowns around the world. The trade ministry’s forecast – which was a downgrade from the 4% contraction predicted in March – came as official data showed the economy shrank 0.7% on-year in the fir...
Lagos State Reduces 2020 Budget by 21%
News

Lagos State Reduces 2020 Budget by 21%

  The Lagos State government has started a downward review of the 2020 budget due to the adverse effects the COVID-19 pandemic has had on the economy. The Commissioner for Economic Planning and Budget in Lagos, Sam Egube, disclosed this on Thursday, May 21. He said that the review, approved by the State Executive Council, is aimed at reducing the N1.168 trillion budget approved by the Lagos State House of Assembly to N920.5 billion. Egube said the initial budget figure contained a capital expenditure of N711 billion and N457 billion recurrent budget, showing a strong preference of 60 per cent ratio for capital projects. He revealed that the first quarter of 2020 recorded a budget performance of 56 per cent (N163.28 billion), which was higher than the 68 per cent (N1...
News

Nigeria is Heading Towards Recession – Minister of Finance, Zainab Ahmed

Zainab Ahmed, Nigeria's Minister of Finance, has said that the coronavirus pandemic and falling oil prices are set to force Nigeria's economy into recession. The Minister made this known today May 21, while speaking to state house correspondents shortly after attending the National Economic Summit meeting in Abuja. “On the economy, COVID-19 has resulted in the collapse in oil prices. This will impact negatively, and the impact has already started showing on the federation’s revenues and on the foreign exchange earnings. Net oil and gas revenue and influx to the federation account in the first quarter of 2020 amounted to N940.91billion.  This represented a shortfall of N125. 52billion or 31% of the prorated amount that is supposed to have been realized by the end of that first ...
New Election Model Predicts Donald Trump Will Lose 2020 Election In A Landslide Because Of The Economy
News

New Election Model Predicts Donald Trump Will Lose 2020 Election In A Landslide Because Of The Economy

The Coronavirus caused economic recession in the US and it might cause Donald Trump to suffer a “historic defeat” in November, a new national election model has predicted. The economy has been Trump’s biggest talking point since he assumed office and many election analysts saw it as the major tool for Trump in his re-election attempt, but with the ravaging effect of Coronavirus on the US economy, an unprecedented unemployment rate, vanishing consumer spending and a collapsing GDP, the election model released by Oxford Economics favors Joe Biden as the winner of the forthcoming US Presidential elections. The model, which uses unemployment, disposable income and inflation to forecast election results, predicts that Trump will lose in a landslide, capturing just 35% of the popular v...

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