Deficit
France, African leaders push to redirect $100 billion in IMF SDR reserves by October
French President Emmanuel Macron said on Tuesday a summit in Paris on Africa financing had agreed to work towards persuading rich nations by October to reallocate $100 billion in IMF special drawing rights monetary reserves to African states. Impoverished African economies must not be left behind in the post-pandemic economic recovery and a substantial financial package is needed to provide much-needed economic stimulus, African and European leaders concluded at a summit in Paris. In the immediate term, that meant accelerating the COVID-19 vaccine rollout and creating the fiscal breathing room for African nations, which will face a spending shortfall of some $285 billion over the next two years, the summit communique showed. The communique set out a two-pronged response based on addressing...
Firm cautions Nigerian government over sale of national assets
Agusto Consulting has cautioned the federal government over its plan to relinquish national assets to private hands, saying, the risk involved is unquantifiable. Agusto Consulting, in a report titled “Rethinking Nigeria’s Models for Infrastructure Development,” noted that, the benefits of relinquishing control to the private sector are glaring, but remain difficult to implement. Noting that the federal government’s handing off certain critical assets of the country that have been dormant over the years will positively impact on the country’s budgetary allocation, but added that this decision has caveats and risks associated with operating models that involve private sector participation regardless of the levels of participation. “First is the high level of corruption in the country and the...
BudgIT: Over 315 capital projects duplicated in 2021 budget
BudgIT BudgIT, a civic-tech non-profit organisation, says it has uncovered 316 duplicated capital projects worth N39.5 billion in the 2021 budget. In a statement, Iyanu Fatoba, communications associate at BudgIT, said the organisation’s findings is contained in its publication titled, “Demanding Budget Reforms for Resource Optimization”, released on Tuesday. On December 31, President Muhammadu Buhari signed the 2021 appropriation bill of N13.588 trillion into law. The signing was done more than a week after federal lawmakers passed the budget and raised its total sum by N508 billion. Speaking on the report, Gabriel Okeowo, BudgIT’s CEO, said out of the identified 316 duplicated projects, 115 are in the ministry of health. He said the development is “very disturbing” as the country is battl...
N60 billion mint: PDP demands sack of finance minister
The Peoples Democratic Party, PDP, has called for the sack of Finance Minister, Zainab Ahmed, over what it described as an attempt to mislead Nigerians. The call follows her denial of the revelations by the Edo state Governor, Godwin Obaseki, that N60 billion was printed in March to support federal allocation to states.” Edo State governor Godwin Obaseki had earlier in the week, lamented the sorry state of the nation’s economy, stressing that the federal government had to order the printing of currency to the tune of N60 billion to share among the tiers of government, a claim dismissed by the Finance, Budget and National Planning Minister, Zainab Ahmed. In a statement signed by Kola Ologbondiyan, national publicity secretary of the party, the PDP maintained that “the admission by Central B...
Joe Aribo scores in Rangers’ home win vs Hibernian
Joe Aribo was on target as Rangers beat Hibernian 2-1 to maintain their 100 percent Scottish Premiership home record. Aribo put Steven Gerrard’s side ahead in the 19th minute after he was set up by Kemar Roofe. The 24-year-old has now scored eight goals in 28 league appearances for the Gers this season. The Nigeria international was replaced by Scott Arfield 18 minutes from time. Ryan Kent scored Rangers’ second in the 62nd minute. Kevin Nisbet reduced the deficit for Hibernian 12 minutes from time. Get more stories like this on Twitter You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos,...
Bayelsa: We won’t retrench workforce amid dwindling revenues – official
The Bayelsa state government has assured civil servants in the state that it had no plans to downsize the workforce, amidst dwindling revenue. The government said on Thursday that although it was contending with an unwieldy wage bill, it would seek alternative sources of revenue to shore up its finances. The Commissioner for Finance, Maxwell Ebibai, gave the assurance at the transparency briefing for the months of January and February 2021, in Yenagoa, the state capital. Newsmen report that under the state’s Bayelsa Transparency Law, it had become mandatory for the government to make public its income and expenditures on a monthly basis. Ebibai, said the state government received N6.8 billion for February, 2021, as net receipts from the Federation Account, after first line deductions, as a...
NIRSAL partners NASENI to create 110,000 jobs in agric sector
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has entered into partnership with the National Agency for Science and Engineering Infrastructure (NASENI) with a view to creating over 110,000 jobs in the nation’s agricultural value chain. NIRSAL said in a statement in Abuja Friday that the move is in “continuation of its mandate of providing end-to-end solutions aimed at fixing breakages along the Agricultural Value Chains (AVC) in Nigeria”. According to the statement, NIRSAL has engaged NASENI as its technical collaborative partner for the conceptualization, design, development, deployment, implementation and execution of various schemes/projects under the NIRSAL-NASENI Comprehensive Tractor Recovery Scheme, the NIRSAL Climate-Smart Modular Geo-Coopera...
Ligue 1: Samuel Kalu helps Bordeaux overcome Angers
Samuel Kalu was in action and helped Bordeaux to a 2-1 home win against Angers, in the French Ligue 1 on Sunday. Bordeaux have now won their third consecutive game. Kalu who was in the starting eleven against Angers was later replaced in the 61st minute while Josh Maja was benched. A brace from Ui-Jo Hwang in the 8th and 11th minutes secured the win for Bordeaux. Angelo Fulgini reduced the deficit in the 39th minute but Bordeaux held on for the win. They climb to seventh position on 32 points in the French topflight league table. Get more stories like this on Twitter You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewar...
Niger governor: Incompetent leaders took over from military in 1999
Governor Abubakar Bello of Niger state has attributed the failures recorded in governance since the coming of democracy in 1999 to incompetent leaders who took over leadership of the country from military. The Governor spoke just as former Speaker of the House of Representatives, Yakubu Dogara, blamed the nation’s educational system for the failure being recorded in leadership in the country, saying the system was not designed to produce leaders. Both men spoke at a youth summit organized by a member of the House of Representatives and Chairman Board of Trustees of Lead Generation Initiative (LGI), Shina Peller, in Abuja. The Niger governor said the that when the military decided to hand over power to civilians, a lot of competent people never believed in the process and therefore stood ba...
Kuwaiti opposition make gains in first parliamentary vote under new emir
Opposition candidates made gains in a parliamentary vote in Kuwait in which two thirds of MPs lost their seats and no women were elected, a result which analysts said could hamper government reform efforts to address a severe liquidity crunch. Emir Sheikh Nawaf al-Ahmad al-Sabah, who took the reins in September following the death of his brother, had raised hopes of a detente between the ruling family and their critics in the perpetually deadlocked and fractious parliament. The final count carried on state media on Sunday showed that 31 new lawmakers had been elected to the 50-seat assembly, which is unusually outspoken for the highly authoritarian Gulf region. None of the 29 female candidates who stood in the election were successful. There was no official figure for turnout but local med...
CAFCC: Rivers United fall to 2-1 defeat vs Futuro Kings
Rivers United lost 2-1 to Futuro Kings of Equatorial Guinea in their CAF Confederation Cup preliminary round first leg tie at the Estadio de Mongomo on Saturday afternoon. Nkama Gregoire put the hosts ahead late in the first half, nodding home from close range. Futuro Kings doubled their advantage in the 68th minute. Godwin Aguda reduced the deficit when he converted from the spot 13 minutes from time. Rivers United fought hard to equalise in the closing stages of the game, but were unable to find a way past the home team’s defence. The reverse fixture will hold next week Sunday at the Yakubu Gowon Stadium, Port Harcourt. Get more stories like this on Twitter You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with givin...
