Economy
APC: PDP governors’ meeting ‘mere jamboree’
The ruling All Progressives Congress, APC, has described Monday’s meeting of governors of the opposition Peoples Democratic Party PDP as a jamboree and a complete waste of time, accusing the state executives of engaging in name calling and abuses. National Secretary of the APC Caretaker Extraordinary Convention Planning Committee, CECPC, Sen. John James Akpanudoedehe disclosed this in a statement issued Monday in Abuja. The statement reads; “Going by the communique issued by the Peoples Democratic Party PDP Governors’ Forum, at the end of its meeting on Monday, it is unfortunate that the PDP governors chose to engage in misplaced name calling and abuses instead of seizing a golden opportunity provided by the meeting to offer meaningful and patriotic contributions on the review of the state...
ASCAB: Kaduna governor sacked over 60,000 workers in six years
Human rights lawyer, Mr. Femi Falana (SAN), and the Alliance on Surviving COVID-19 and Beyond say Kaduna State Governor, Nasir el-Rufai, has sacked over 60,000 workers since he took office in May 2015. They, therefore, endorsed the five-day strike across Kaduna State which will begin on Monday. ASCAB in a statement on Sunday called on all NLC affiliates and supporters to join the “essential strike” adding that a “firm action is needed to reverse the massive attacks on jobs and poverty induced insecurity in Kaduna State.” Falana said the economy of Kaduna was traditionally built around textile factories and the public sector but in the decade before the administration of el-Rufai, the last four major textile factories were closed with many of the workers not receiving any terminal benefits ...
Sustaining economic empowerment through financial inclusion, energy access
Financial inclusion and provision of sustainable energy is at a turning point in Africa’s largest economy, Nigeria. With a population of over 200 million, about 50 per cent of the total population live in rural areas, and only 39 per cent of those living in rural communities have access to electricity. This is in addition to over 40 per cent of the entire population who are financially excluded or underserved. However, the proliferation of digital financial services in Nigeria – powered largely by growth in fin-tech companies – has catalysed an unparalleled increase in the current number of people with access to formal financial services, while further opening up opportunities to address power supply challenges across rural communities; a major feat instrumental towards achieving the broad...
Nigerian farmers raise alarm as insecurity threatens food availability
Some concerned parties in the agriculture sector have appealed to the federal government to intensify efforts in curbing banditry, kidnapping and terrorism, as these can threaten food security. The parties made the appeal in separate interviews with newsmen on Friday in Abuja. They noted that the recent increase in kidnapping and banditry had made a lot of farmers run from their farmlands in search of safe hideouts. The Executive Secretary, National Agricultural Land Development Authority (NALDA), Paul Ikonne, said there was a need to urgently address the insecurity challenges in the country in order to overcome the challenge of food shortage. Ikonne noted that dialogue remained critical in addressing issues of insecurity and herders, adding that a peaceful dialogue between farmers and her...
Edo governor: Nigeria’s unity must be on social justice, equity
The Governor of Edo State, Godwin Obaseki, has called for unity in Nigeria in order for the country to overcome its many challenges. He identified equity, social justice and fairness as imperative in the pursuit of the nation’s unity. Obaseki noted that “Nigeria is one indivisible entity that must remain united irrespective of our regional or political differences.” The governor who spoke to journalists after a closed-door meeting with Southern Governors in Asaba, Delta State, reiterated the need for Nigerians to imbibe the spirit of love, tolerance and peaceful coexistence. According to him, “the meeting is geared towards solidifying the cooperation between Southern Nigeria. “We looked at issues affecting us, ranging from security, economy, regional cooperation and certain positions and h...
World Bank: Nigeria responsible for over 40 percent diaspora remittances in Sub Saharan Africa
The World Bank says Nigeria is responsible for over 40 percent of diaspora remittances in Sub Saharan Africa (SSA). In a statement on Wednesday, the Washington-based financial institution said remittances to SSA declined by an estimated 12.5 percent in 2020 to $42 billion. The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria, “Remittances to Sub-Saharan Africa declined by an estimated 12.5 percent in 2020 to $42 billion,” the statement read. “The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria, which alone accounted for over 40 percent of remittance flows to the region. “Excluding Nigeria, remittance flows to Sub-Saharan African increased by 2.3 percent. “Remittance growth was reported in Zambia (37 percent), ...
Southern governors meet, urge President Buhari to address Nigerians
Worried by the rising rate of insecurity, Southern Governors, Tuesday, met in Asaba, the Delta State capital and called on President Muhammadu Buhari to address the nation on the spate of insecurity in the country. The Governors in the meeting which started at about 12 noon and ended about 4:20 pm, urged the Federal Government to convocated a national dialogue as a matter of urgency and insisted on the ban of open grazing across Southern Nigeria The Governors in the 12 point communique read by the Chairman of Southern Governors Forum, Governor Arakunrin Oluwarotimi Akeredolu of Ondo State, “affirmed that the peoples of Southern Nigeria remain committed to the unity of Nigeria on the basis of justice, fairness, equity and oneness and peaceful co-existence between and among its peoples with ...
NALDA to establish integrated farm estate in Ogun
The National Agricultural Land Development Authority (NALDA) says it has concluded plans to establish an integrated farm estate in Ogun State. The agency also said it would set up a cassava processing plant and train 200 graduates in the state in soil testing technology. These moves according to NALDA are in line with its determination to boost the Cassava value chain and job creation for youths in the country. The Cassava processing plant would compliment the Integrated Farm Estates to be established in the three Senatorial zones of the state. The farm estate would comprise of different agricultural activities which includes farming, processing and packaging areas, commodity market, residential areas and schools. Executive secretary of NALDA, Prince Paul Ikonne made this disclosure when h...
CBN governor seeks PPP model to improve healthcare infrastructure
Bloomberg The Central Bank of Nigeria (CBN) has urged stakeholders in the public and private sectors to collaborate to build a more healthy and robust healthcare infrastructure in Nigeria. The CBN Governor, Mr Godwin Emefiele, made the call at a movie launch titled: “UNMASKED”, a feature documentary on leadership, trust and the COVID-19 pandemic in Nigeria. The movie was produced and directed by Mr Femi Odugbemi, a Nigerian documentary filmmaker, and co-produced by Ms Kadaria Ahmed, a renowned journalist, media entrepreneur and television host, on Friday in Lagos. According to Emefiele, addressing the public health crisis along with the downturn in the economy required strong coordination. He said the measures and interventions put in place by the CBN and private sector to improve governme...
CBN governor vows to block maize importation
Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele on Thursday vowed to resist importation of maize as Nigerians have the capacity and capability to grow the crop locally to meet consumption demand. On that note, he has urged youths across the country to embrace agriculture, declaring the bank’s readiness to support those ready to venture into it. Emefiele made the declaration in Katsina at the unveiling of the first maize pyramid and flag-off of the 2021 maize wet season farming under the CBN-Maize Association of Nigeria (MAAN) Anchor Borrowers’ Programme. He averred that Nigerian youths could leverage their talents, along with technological tools to improve farm productivity and delivery of agricultural produce to markets. While noting that agriculture offered significant benefi...
Edo governor: Current NDDC structure incapable of developing South-South
Edo State’s Governor Godwin Obaseki has reiterated the call for the restructuring of the Niger Delta Development Commission, stressing that such would drive the development of the South-South region. Obaseki made the call during a meeting with the South-South Zone Working Committee of the People;s Democratic Party (PDP) at the Government House in Benin City. According to him, “In the South-South, we must stand up to defend ourselves economically, politically and security-wise. We have pretenders in the region who try to exploit the region and we must stop them.” Obaseki said the region is facing impeded growth because of the inability to make use of its resources for its development. He added, “The current structure of the NDDC has caused underdevelopment in the region, with the Federal Go...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...