Challenges
IFDC, EBID sign pact to boost agriculture in West Africa
The International Fertilizer Development Center (IFDC) has signed a Memorandum of Understanding (MoU) with the ECOWAS Bank for Investment and Development (EBID) for the improvement of soil health and plant nutrition in West Africa. The agreement will engender multifaceted programmes aimed at promoting growth and development of the agricultural sector in the West Africa sub region. Though West Africa accounts for two per cent of global fertilizer consumption, fertilizer application rates in the region are still low due to logistical challenges, including reliance on imports that may or may not be appropriate for the various soils in the region. IFDC is an independent non-profit organization, operating in 17 countries in Asia and Africa, which combines science-backed innovations, an enabling...
Senators decry executive’s disregard for resolutions on insecurity
Federal lawmakers, on Tuesday, deplored the federal government’s continued disregard for Senate’s resolutions on the issue of national security. The Senators spoke while contributing to a motion on the recent kidnapping of students at the Government Science School, Kankara, Katsina State. The Red Chamber had twice called for the replacement of the service chiefs. The lawmakers, in their various contributions to the motion, expressed deep frustration over the recurring issues of killings and kidnappings across the country and the inability of the security agencies to address the challenges. They insisted that the service chiefs had overstayed and should allow other officers with fresh ideas to take over. Senator Mohammed Sani Musa (APC, Niger) said, “Every day, people are dying and nothing ...
Senate summons minister, service chiefs over Kankara kidnapping
The Senate, on Tuesday, invited the Minister of Defence, Maj. Gen. Bashir Magashi (rtd.), service chiefs and heads of other security agencies to brief it on measure being taken to rescue the abducted students of Government Science School, Kankara Katsina State. This followed a motion by Senator Bello Mandiya (APC, Katsina South), who noted that the abduction is coming on the heels of yet to be resolved abduction of 270 girls at Government Secondary School, Chibok, Borno State in 2014, and abduction of about 100 school girls at Government Girls Science and Technical School, Dapchi, Yobe State in 2018. He expressed concern that like the other incidents of school children abduction that took place in Chibok and Dapchi, if no immediate action was taken to rescue Kankara School boys, their fate...
Air passengers decry upsurge in fares, seek urgent attention to roads, railway
Nigerians, who travel by air, have decried the “sudden” upsurge in air fares and urged the Federal Government to intervene to avoid poor patronage that could dwindle the fortunes of the aviation industry. Newsmen report that the air fares shot up by about 100 per cent in the last one week, with some airline operators even raising their fares by as much as 120 per cent or more. At Nnamdi Azikiwe International Airport, Abuja, the fare from Abuja to Lagos, which was N35,300 (Economy Class), rose to between N70,000 and N75,000. Newsmen found that Business Class travellers were charged between N100,000 and N120,000, depending on the airline. Our correspondents, who visited other airports across the country, found that the rise in airfares was the same, a situation that forced some passengers to...
AfDB chief urges Nigerian government to deepen investment in youth
The President, African Development Bank (AFDB), Dr Akinwumi Adesina, has appealed to the Federal Government to deepen investment in youth, to enable them put their entrepreneurial ingenuity to good use. Adesina, who spoke virtually at the 2020 Nigerian Prize for Leadership at the weekend in Abuja, noted that Nigerian youth are plagued by plethora of challenges like unemployment, limited technical and vocational skills, limited inclusion in the socio-political space and lack of finances to develop their businesses. “No nation is perfect. But those who learn from history become greater. Events repeat itself twice when people do not learn. As a nation, Nigeria should do everything possible to invest and reinvest itself by focusing on the youth. “Today, we have 206 million people, 70 per cent ...
Nigerian government to implement NIPSS recommendations on population growth
President Muhammadu Buhari has assured that his administration will look into the 12-point recommendations by graduates of National Institute for Policy and Strategic Studies (NIPSS) on Population Growth and Human Capital Development in Nigeria, with view of implementing them. The President gave the assurance at the graduation ceremony of the Senior Executive Course 42, held Saturday at the Institute in Jos. The President, represented by Plateau State Governor, Simon Lalong, charged the graduates to live up to expectations of leading Nigeria out of its problems. “The times levy a demand on institutions such as this one and on its graduates for innovation and creative intelligence in addressing our national challenges. “It is my conviction that the elites both individually and collectively ...
Minister: Industry, trade, investment key to economic diversification
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, says the sector is crucial in the drive toward diversification of the nation’s economy, away from being oil dominated. Adebayo spoke in Abuja at the Physical/Virtual 12th National Council on Industry, Trade and Investment meeting, with the theme “Revitalisation of the Industry, Trade and Investment Sector in Nigeria in the Post-COVID-19 pandemic era”. He explained the pivotal role of the ministry as a key actor in the economy with the mandate to stimulate domestic investment and attract foreign direct investment into all sectors. The minister said it was committed in facilitating trade in goods and services and maximising benefits of international trade through functional bilateral and multilateral trade relations. Acc...
CIBN urges banks to strengthen cyber-security
The Chartered Institute of Bankers of Nigeria (CIBN) has urged the banks to strengthen their cyber-security architecture in order to prevent attacks by fraudsters. President/Chairman of Council of the institute, Mr. Bayo Olugbemi, made the call while delivering his remarks at the 2020 CIBN Fellowship Investiture in Lagos, at the weekend. The CIBN at its investiture formally conferred its honorary fellowship awards on 19 distinguished bankers in recognition of their contributions to the banking industry and the economy; 77 associates as elected Fellows while 105 senior management staff of banks and the academia became Honorary Senior Members of the institute at the event with the theme: ‘Financial Services in a post COVID 19 Environment: Strategic Imperative’. Some that were conferred with ...
Senate threatens labour ministers over absence at hearing
The Senate Committee on Local Content has threatened to sanction the Ministers of Labour and Employment, Chris Ngige and Festus Keyamo, over their failure to appear at an investigative hearing on diving operations in the oil and gas industry. It also threatened to sanction the managing directors of international oil companies (IOCs) in Nigeria for the same reason. The IOCs MDs include ExxonMobil, Total and Chevron. The chairman of the committee, Teslim Folarin, said this at the hearing on Thursday after they all failed to show up for the event which was meant to review the challenges experienced by diving operators in the sector. The invitation followed a debate on a motion on the urgent need to ensure strict compliance with statutory regulations and provisions on Nigerian diving sector. P...
Only good governance will silence social media criticism – NCC chair
The Chairman of the Nigerian Communications Commission (NCC), Professor Adeolu Akande, has said only good governance will silence social media from its criticism of government. Professor Akande said the agitation against the social media because of criticism of government through the medium will not stop such criticism, saying when government performs well, the social media is bound to respond positively. “When government performs well, the social media is abuzz with praises for the government. When government fails, the social media is abuzz with condemnation. The best way to silence the social media is to strive and do well,” he submitted. Professor Akande spoke as Guest Speaker at the Annual Lecture of the Nigerian Union of Journalists, Oyo State chapter in Ibadan Tuesday. Speaking on t...
Joe Biden picks diverse team of top economic advisers
President-elect Joe Biden named former Federal Reserve Chair Janet Yellen as his Treasury secretary nominee on Monday, and named three women to other top economic posts, setting the stage for a more diverse White House. While Biden’s transition to the presidency on Jan. 20 appeared to be hitting its stride, he himself was hobbling after fracturing his foot while playing with his dog on Saturday and will wear a protective boot for several weeks, his doctors said. The incoming administration has been hampered for weeks by Republican President Donald Trump, who has refused to concede to Biden, a Democrat. Trump has said without providing evidence that the Nov. 3 vote was fraudulent, claims that state and federal election officials have dismissed. Biden named leading members of an economic tea...
Nigerian government seeks new Eurobond
The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...
