IMPACT
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...
Official: TETFund spends N120 billion on academic staff training since 2008
Academic Staff from public institutions across the country have so far accessed over N120 billion for training, within and outside Nigeria, from the Tertiary Education Trust Fund (TETFund) since its inception in 2008. The Chairman, Board of Trustees of TETFund, Alhaji Kashim Imam, disclosed this on Wednesday when he led a delegation of the fund to the University of Maiduguri (UNIMAID) on an assessment visit. Imam said for 2021 alone, the fund was investing N25 billion on academic staff training and development. Imam said the team was in the university for a verification visit and to assess the impact of the training programmes, through interaction with management and beneficiaries. He noted that the fund had to suspend the sponsorship of academic staff attending international conferences, ...
Analysts: Printing currency could hurt economy
Analysts have expressed concerns over a recent claim that the federal government resorted to printing money to augment the monthly allocation to the three tiers of government, warning that it could heighten inflationary pressure with dire consequences for the country’s exchange rate and economy. The analysts, in separate interviews with newsmen, warned that a sustained policy of printing the currency, if not well managed, would hurt the economy. The concern came on the heels of recent revelation by Governor of Edo State, Mr. Godwin Obaseki, that due to the dwindling revenue in the face of declining oil revenue arising from the growing sources of alternative sustainable energy, the federal government had to print money to augment the amount available for sharing by the federal, state and lo...
Reports: Governments ‘gender blind’ to coronavirus’ ‘greater impact’ on women
Governments are putting women and girls at greater risk of the health and socio-economic impacts posed by the coronavirus pandemic, two global studies released Wednesday show. They called on leaders to prioritise gender equity in their response to the health crisis. Two studies, one from a global research partnership led by the Global Health 50/50 Project in London and another by the Center for Global Development (CGD) in Washington, were released Wednesday to coincide with World Health Day that highlight major failings by national governments to consider sex or gender in their COVID-19 policies. Since the start of the pandemic in March 2020, several studies have pointed to the disproportionate impact of the pandemic on women. Many women have shouldered a heftier burden taking on more unpa...
IMF, World Bank advocate flexible fiscal support, debt relief
Against the backdrop of a pandemic impacted global and national economies, the International Monetary Fund (IMF) and World Bank have urged fiscal authorities to execute flexible and supportive fiscal policies to support economic recovery and cushion the long-term impact of the pandemic. In a paper that was titled: ‘Tailoring Government Support’, IMF staff said until the pandemic is brought under control, fiscal policy will have to remain flexible and supportive. It advised governments to prioritize certain policy measures that include targeted support to vulnerable households, investment in health system and more focused support to viable firms, warning that if the pandemic persists, widespread corporate insolvencies could result, destroying millions of jobs, particularly in contact-intens...
US Supreme Court dismisses case on Donald Trump blocking Twitter critics
The U.S. Supreme Court set aside a federal appeals court ruling that former President Donald Trump violated the First Amendment when he blocked critics from following his Twitter account. The case had already lost its practical impact given Trump’s election defeat and Twitter’s Jan. 8 decision to permanently ban his @realDonaldTrump account for glorifying violence. But the two sides in the case continued to spar over the fate of the appeals court decision. Before Trump left office, the Justice Department asked the justices to wipe away the precedent, while those suing him sought to keep it intact. The appeals court said a social media account run by government officials can become a constitutionally protected “public forum” if used to conduct official business. The Supreme Court has said t...
APC chieftain writes on ’21 political lies in Nigeria’
A chieftain of the All Progressives Congress in Kwara State, Akogun Iyiola Oyedepo, says his book on “21 political lies in Nigeria” is to educate the electorate on the antics of politicians during elections. Oyedepo said this on Monday in Ilorin while speaking at the presentation of the book. The News Agency of Nigeria reports that the 21 chapter, 140 pages book chronicled many lies told by politicians to win votes during campaigns. According to Iyiola, the book is targeted mainly to educate the electorate on how to vote for candidates seeking their franchise, adding that if the electorate votes wrongly, it will live with them for another four years. He said: “I sat down and examined issues through which we win election and I discovered that some of these issues may be there. “They are imp...
Niger’s new president blasts terrorists for war crimes
Niger’s new president Mohamed Bazoum lashed out on Friday at jihadists who have carried out devastating attacks on his country, accusing them of “war crimes” after he took the helm of the troubled nation. The inauguration marked the first-ever transition between elected presidents in Niger’s six decades of independence from France — a historic moment that has been widely praised. But the Sahel country’s problems were deeply underscored in the run-up to Friday’s ceremony, after a string of jihadist massacres and an alleged attempted coup just two days before the handover. Bazoum hit out at “terrorist groups whose barbarity has exceeded every limit.” These groups “carry out large-scale massacres of innocent civilians, and in doing so, commit real war crimes,” Bazoum declared. Niger is being ...
UN projects Nigeria’s GDP to expand by 1.5 percent
Nigeria’s gross domestic product (GDP) is projected to expand by 1.5 per cent this year, after a contraction of 3.5 per cent in 2020, a United Nations (UN) report said on Wednesday. In the latest World Economic Situation and Prospects report, the UN noted, that tighter foreign exchange (forex) liquidity, mounting inflationary pressures and subdued domestic demand clouded the medium-term outlook. Although last year, the global economy shrank by 4.3 per cent, this year’s projected recovery of 4.7 per cent will barely offset the losses of 2020, according to the report. The World Economic Situation and Prospects 2021 is a report produced by the UN Department of Economic and Social Affairs (DESA), in partnership with the UN Conference on Trade and Development (UNCTAD), and the five UN regional ...
President Buhari condemns attempted coup in Niger Republic
President Muhammadu Buhari has condemned the attempted coup in Niger Republic, saying “any illegal effort to depose a democratically elected government is not only despicable, but also unacceptable to democratic governments around the world.” Speaking in a telephone conversation with Mahamadou Issoufou, his counterpart and outgoing President on the situation in Niger Republic, President Buhari according to a statement by his media aide, Garba Shehu warned that “the international community is hostile to the change of government by violent and unconstitutional means.” “It is utterly naive to attempt the removal of an elected government by force. “Military political adventurers should respect the will of the people and respect constitutional order. “I’m particularly concerned about the negati...
Coronavirus: Nigeria gets $15 million grant for safe school reopening
The Federal Ministry of Education says Nigeria has received 15 million dollars response grant from the Global Partnership on Education (GPE) for COVID-19 safe school reopening across the country. Hajia Binta Abdulkadir, Director, Basic and Secondary Education in the ministry, said this on Wednesday in Bauchi, at a Cluster Mobilisation and Sensitisation Meetings on COVID-19 Protocols, Surveillance and Safe School Reopening Readiness. Abdulkadir was represented on the occasion by Mr Achede Owoicho, Deputy Director, Basic and Secondary Education and the Focal person for the GPE. The workshop is initiated with the support of the United Nations Children Education Fund (UNICEF). Abdulkadir noted that through the grants, UNICEF had sent WASH and ICT materials to 16 states for preparation of digit...
Suez Canal reopens after stranded ship is freed
Traffic has resumed in Egypt’s Suez Canal after a stranded container ship blocking it for nearly a week was finally freed by salvage crews. Tug boats honked their horns in celebration as the 400m-long (1,300ft) Ever Given was dislodged on Monday with the help of dredgers. Hundreds of ships are waiting to pass through the canal which links the Mediterranean to the Red Sea. It is one of the world’s busiest trade routes. Peter Berdowski, CEO of Dutch salvage company Boskalis, said the Ever Given had been refloated at 15:05 (13:05 GMT) on Monday, “thereby making free passage through the Suez Canal possible again”. Egyptian officials say the backlog of ships waiting to transit through should be cleared in around three days, but experts believe the knock-on effect on global shipping could take w...
