Cushion
Nigerian government says 300,000 mass housing scheme strictly for low income earners
The Federal Government says its Social Housing Programme, one of the components of the National Economic Sustainability Plan (NESP), is targeted at low income earners. Imeh Okon, Senior Special Assistant to the President on Infrastructure, who made this clarification on Tuesday in Abuja, said the scheme was not meant for politicians or highly placed persons. The 300,000 social housing programme is a component of the NESP designed by the Vice President Yemi Osinbajo-led committee constituted by President Muhammadu Buhari to cushion the effects of COVID-19 on Nigerians. She explained that one of the objectives of the administration was to provide houses for citizens across the country. Okon said that the houses would be durable and of high quality not minding the low prices. “It is a social ...
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 ...
Anglican Primate wants programmes to cushion hike in petrol, electricity tariff
The Primate, Church of Nigeria, Most Rev. Henry Ndukuba, on Wednesday called on the Federal Government to urgently come up with programmes to cushion the effects of the hike in petrol prices and electricity tariff on citizens. Ndukuba, who made the call at the 13th General Synod of the Church in Abuja, stressed that the hike would worsen the economic hardship on Nigerians and increase the poverty level in the country. While lamenting the negative effects of COVID-19 on the citizenry, Ndukuba expressed regret that most of the small and medium scale enterprises had collapsed and many more Nigerians had lost their jobs. On national security, the Anglican Primate stressed the need for government to accord priority to community policing and support regional security organisations to strengthen ...
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