Tuesday, January 18

Tag: Economy

Lai Mohammed lists President Buhari’s achievements in 2021
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Lai Mohammed lists President Buhari’s achievements in 2021

Minister of Information and Culture, Lai Mohammed has listed 100 achievements of President Muhammadu Buhari in 2021. Claiming that success is not measured by the number of challenges you face but by how you tackle the challenges, Lai Mohammed stated that the Buhari-led administration has made “tremendous” progress in fighting insecurity and growing the economy. Here's the full statement; TEXT OF THE PRESS CONFERENCE ADDRESSED THE HONOURABLE MINISTER OF INFORMATION AND CULTURE, ALHAJI LAI MOHAMMED, IN LAGOS ON THURSDAY, 30 DEC, 2021 TO SHOWCASE THE ACHIEVEMENTS OF THE BUHARI ADMINISTRATION DURING THE OUTGOING YEAR 2021 Gentlemen, good morning, and thanks for honouring our invitation to this press conference which, in line with our tradition, we have called to brief you on the ac...
Some people will blame Buhari if they can’t get pregnant – Rotimi Amaechi
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Some people will blame Buhari if they can’t get pregnant – Rotimi Amaechi

The Minister of Transportation, Rotimi Amaechi, has called on Nigerians to stop blaming President Buhari for all the problems in Nigeria. According to him, it has gotten so bad that some Nigerians would even blame President for not getting pregnant. Amaechi, who is a former Chairman of the Nigerian Governors’ Forum, said this when he appeared on Channels TV. “The point is we all blame the government. Like the President would say, if tomorrow you are unable to get pregnant, you will blame Buhari,” he said When asked if the All Progressives Congress did not know about the challenges when it promised Nigerians ''change'', Amaechi said they didn’t know the magnitude of the rot in the system while campaigning. On why the Buhari-led government has failed to ...
Nigeria loses N499.29bn as Twitter ban hits 200 days
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Nigeria loses N499.29bn as Twitter ban hits 200 days

The Nigerian economy has incurred N499.29bn losses since the microblogging app, Twitter, was shut down by the Federal government on June 4, 2021. According to the NetBlocks Cost of Shutdown Tool, Nigeria’s economy loses N104.02m ($250,600) every hour to the ban on Twitter. It has been 4,800 hours (200 days) since the social networking site was blocked. The Federal Government on June 4 announced the suspension of Twitter after the social media platform deleted a tweet by President Buhari. The suspension came with a directive to telecommunication companies to block access to Twitter for their subscribers. While giving his Independence Day speech, Buhari hinted that the ban would continue until Twitter registered in Nigeria, had a physical presence, and representation. Recently, the ...
NCC, SMEDAN collaborate on digital scheme for SMEs
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NCC, SMEDAN collaborate on digital scheme for SMEs

The Nigerian Communications Commission (NCC) has partnered the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to establish a SME Digital Academy. The SME Digital Academy is a public-private partnership initiative being driven by the NCC, SMEDAN, and Sapphital Learning Limited, a leading digital learning platform, essentially to provide micro, small and medium enterprises (MSME) owners with digital skills to enhance their entrepreneurial skills. The partnership also aims to equip entrepreneurs and start-ups with the necessary digital skills required to navigate the increasingly digitised world. Speaking at the launch, which took place at the NEXIM House in Abuja recently, the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, said the setting up of the sch...
We must be Prepared for a Nigerian Economy after Oil – Buhari
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We must be Prepared for a Nigerian Economy after Oil – Buhari

President Muhammdu Buhari has said that there is need to prepare for a Nigerian economy after oil. The President said this when receiving the immediate past Executive Director of Nigerian Export Promotion Council (NEPC), Mr. Segun Awolowo, at the Presidential Villa, Abuja. In a statement released by his Special Adviser on Media and Publicity, Mr. Femi Adesina, the president applauded Awolowo for using the NEPC to turn the fortunes of the Nigerian economy around, noting that he had “put our locally made products on the world map”. He said; “You have raised the profile of exports in Nigeria, and put our goods on the map internationally. Your efforts are highly commendable, and I’m glad that the Zero Oil plan birthed by this administration is he...
Nigeria’s public debt increased by N2.5trn in three months – Debt Management Office
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Nigeria’s public debt increased by N2.5trn in three months – Debt Management Office

The Debt Management Office (DMO) has said that the country's total debt was N38.005 trillion at the end of the third quarter (Q3) of 2021. The debt agency in a press statement titled, ‘DMO publishes total public debt for Q3 2021’, and published on the DMO’s website, said the total debt figure comprised total external and domestic debts of the Federal Government , the 36 states and the Federal Capital Territory. The total debt stock rose by N2.540tn in three months from June 30 to September 30, 2021. The DMO attributed the increase to the $4 billion eurobonds issued by the federal government in September. According to the agency, the $4 billion eurobonds helped to increase the level of the country’s external reserves. The statement read; “In line with its practice, the Debt...
Legalization of cannabis will take Nigeria to dark days – NDLEA
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Legalization of cannabis will take Nigeria to dark days – NDLEA

The National Drug Law Enforcement Agency (NDLEA) on Thursday said legalization of consumption of cannabis will take Nigeria back to it’s dark days. Brig.-Gen. Buba Marwa (rtd), the Chairman and Chief Executive of the agency, said this at an interactive session with heads of security agencies, Non-Governmental Organisations (NGOs) and heads of government agencies in Jos, Plateau as he rejected the calls for Cannabis legalization. Some Nigerians have been advocating for the legalisation of the drug for health and economy purposes. But Marwa said that legalising cannabis would truncate its ongoing fight against drug abuse, stressing that such a move would also take Nigeria back to its dark days. He revealed that 10.6 Nigerians were currently consuming cannabis, adding that legalis...
I Hope To Return Nigeria’s Economy To Where It Was When I Was A Boy – CBN Governor
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I Hope To Return Nigeria’s Economy To Where It Was When I Was A Boy – CBN Governor

Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), has expressed optimism to restore Nigeria's economy to where it was when he was growing up. Emefiele revealed this while speaking on an Arise TV programme on Tuesday Morning. According to him, Nigeria has the resources to succeed, and restore the country to its former glory. “If through our policies we can just return or move Nigeria close to what it was when I was growing up, then I can leave office look back and thank God that we left something for our children. Nigeria is a great country, with resources enough to be self-sufficient and no need to rely heavily on oil to provide for the economy this is why we are focusing on diversifying the economy,” he said.
With NIN, identity of any Nigerian on the Internet will be Known -Isa Pantami
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With NIN, identity of any Nigerian on the Internet will be Known -Isa Pantami

Isa Pantami, minister of communications and digital economy, has stated what he hopes to achieve with the National Identification Number (NIN). Speaking during the Nigeria International Partnership Forum in Paris, meant to strengthen ties between Nigeria and France in the aftermath of the COVID-19 pandemic he said NIN will ensure that the identity of citizens and legal residents who log into the internet is known. “Some of these initiatives that happen to be the foundation of even our economy is the introduction of the national identification number. Nigeria has joined the global community by making the use of national identification numbers for both citizens and legal residents mandatory,” he said. “This is going to be the foundation of our economy and also the foundation of ou...
Take advantage of investment opportunities in Nigeria – President Buhari tells French companies
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Take advantage of investment opportunities in Nigeria – President Buhari tells French companies

President Buhari has called on French companies to come and take advantage of investment opportunities in the country. The President made the calls while speaking at the Nigeria International Partnership Forum in Paris. The president asked businesses to take advantage of the opportunities available in Nigeria, adding that the country is investing in infrastructure, climate change and tackling insecurity to ensure that businesses have a smooth environment to thrive. “Let me finally stress that Nigeria is open for partnership and cooperation. I invite the French business community to take advantage of the vast investment opportunities in Africa’s largest economy. I can assure you that our administration is on the right path to achieving multi-sectoral progress. We have revitalised...
Doctor to patient ratio in Nigeria is 1:6000 – Education Minister Adamu Adamu says as he decries medical brain drain
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Doctor to patient ratio in Nigeria is 1:6000 – Education Minister Adamu Adamu says as he decries medical brain drain

Minister of Education, Adamu Adamu, has decried the high level of brain drain in the health sector, saying it will take the country about 120 years to have the number of doctors it needs if all Nigerian doctors do not remain in the country. The Minister said this while speaking at the maiden matriculation ceremony of the Federal University of Health Sciences Otukpo (FUSHO), held at its temporary site in Otada, Otukpo LGA of Benue State on Friday, November 5. Represented by a Permanent Secretary in the Ministry, Arc. Sunny Echono, the Education Minister lamented that the quality of training, competence, and skills needed in the medical profession has remained problematic in the country as a result of a combination of inadequate personnel and facilities. He said statistics shows that...
Speed Darlington condemns IPOB’s sit-at-home order in the Southeast
Celebs

Speed Darlington condemns IPOB’s sit-at-home order in the Southeast

Singer, Speed Darlington, has condemned the constant sit-at-home order issued by members of the Indigenous People of Biafra IPOB. The secessionist group had on Thursday October 21, directed residents of the South east to sit at home as the leader of its group, Nnamdi Kanu, was to be arraigned before a Federal High Court in Abuja, The sit-at-home order was complied with in all states in the South east Reacting to this development, Speed Darlington said it is a wrong move as the economy of Nigeria is already in shambles. ''Nigeria's economy is bad. When you do sit-at-home it makes the economy even worse. Monday, sit-at-home.Today Sit-At-Home. In two days it would be a Sunday...another shop closing making it three times within seven days. one dollar eequals N530...
FG to use Army, Navy, Civil Defence officers in fight against crude oil theft in Niger Delta
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FG to use Army, Navy, Civil Defence officers in fight against crude oil theft in Niger Delta

The federal government has said operatives of the Nigerian Army, Navy and Civil Defense Corps would be effectively used in the fight against crude oil theft in the Niger Delta Region. Consequently, it has set up an Inter-Ministerial Committee on the recovery of the illegally refined petroleum products ( crude oil) in the Creeks of the Niger Delta Region. The Committee comprised of representatives from the Nigerian Army, Navy, Civil Defence Corps and the Federal Ministry of Defence. Others in the Committee are representatives of the Federal Ministry of Justice, Ministry of Environment, Nigeria National Petroleum Corporation NNPC, Department of Petroleum Resources DPR and National Oil Spill Detection and Response Agency. Performing the inauguration of the committee on Thursday in...
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
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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
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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
News

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
News

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
News

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%
News

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 ...

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