Policy
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...
President Buhari appoints new DTCA, NIIA chiefs
President Muhammadu Buhari has appointed Ambassador Rabiu Dagari as Director-General of the Directorate of Technical Cooperation in Africa (DTCA). The Permanent Secretary, Ministry of Foreign Affairs, Ambassador Gabriel Aduda, in a letter dated April 8, 2021, addressed to Dagari, said the appointment was for an initial period of four years with effect from March 16, 2021. Letter read: “The terms and condition of your appointment is as provided in the appointment of Chief Executives of Government Parastatals and Agencies in the Federal Public Services. “It Is hoped that your performance at the Interview/screening exercise as well as your experiences as a seasoned Diplomat/Administrator will be brought to bear in the discharge of your duties as the Director-General of the Directorate,” Aduda...
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...
PAP sets JAMB as criteria for ex-agitators to get scholarship
The Presidential Amnesty Programme, PAP, has explained that its new policy mandated all ex-agitators desiring to benefit from its scholarship scheme to first take the examination organised by the Joint Admission and Matriculation Board, JAMB. Amnesty office said the new policy was designed to eliminate mediocrity in the programme, adding that the scheme was aimed at transforming ex-agitators into well-educated entrepreneurs and employable citizens. PAP’s Interim Administrator, Col. Milland Dixon Dikio, disclosed in a statement in Port Harcourt signed by his Special Assistant on Media, Nneotaobase Egbe, that the policy was vital for the personal, intellectual and mental growth and development of the delegates. Dikio explained that PAP was targeted at ensuring that beneficiaries of PAP schol...
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...
Report: US says ex-Egypt premier had diplomatic immunity from lawsuit
The Biden administration has said a lawsuit seeking to hold former Egyptian Prime Minister Hazem el-Beblawi accountable for alleged involvement in torture against an Egyptian-American activist should be thrown out because he held diplomatic immunity, the Washington Post reported on Monday. In a submission to the US District Court in Washington, DC, shared by the Post, lawyers for the US Justice Department said “El Beblawi held diplomatic status at the time when the suit was commenced” and the court should dismiss “claims falling with the scope of his immunity”. El-Beblawi had served as Egypt’s representative to the International Monetary Fund, but quit and left the US in late October, the Post reported. The department said in its court filing that it was not making any judgements on the me...
Easter: Abuja airport records high traffic
The Nnamdi Azikiwe International Airport, Abuja, on Friday witnessed increased traffic due to huge number of passengers travelling to different parts of the country to celebrate Easter. According to NAN reports, flights from Abuja to other routes were fully booked before Thursday. Also, booking and check-in counters of many airlines were crowded with travelers rushing to board their flights. Many of the airline officials who spoke with NAN in separate interviews said there was upsurge in traffic, but ticket fare still remained same. The Max Air Station Manager, Kehinde Ogunyale, said that more people had chosen to fly home for the Easter celebration than the previous years. Ogunyele further said that Max Air also possibly experienced unique increase in passengers due to reduction in flight...
Yiaga Africa demands effective monitoring, evaluation of coronavirus vaccination
A Civil Society Organisation, CSO, Yiaga Africa, on Monday, demanded effective monitoring and evaluation of COVID-19 vaccination and also strengthening the nation’s health sector. This was stated by the Director of Programmes, Yiaga Africa, Cynthia Mbamalu, while speaking on the need for the vaccination to be guided by certain principles that would bring about the inclusion of all citizens in the process. Mbamalu said: “The conversation is important to ensure that the whole process of vaccination is guided by certain principles and every aspect of society is catered for. In the implementation of vaccines in Nigeria, we need to deploy effective monitoring and evaluation systems that will help document how well we have done, document the learning, and how we can improve on the system. “Beyon...
U.S. Senate confirms Wally Adeyemo as deputy treasury secretary
The U.S. Senate has confirmed Adewale Wally Adeyemo as Deputy Secretary of the Treasury, making him the first Nigerian-American to hold the powerful job. Adeyemo, 39, has struck a hardline tone on China, vowing to fight what he called Beijing’s “unfair economic practices” and hold China accountable to international rules. He is expected to play a key role in shaping U.S. economic policy on issues ranging from financial regulation to relief for everyday Americans and U.S. sanctions on foreign governments. A former senior adviser at asset manager BlackRock Inc and the child of Nigerian immigrants, Adeyemo served as a top national security and economic adviser to Democratic former President Barack Obama and held senior jobs at the Treasury. The Senate on Thursday confirmed Adeyemo on a voice ...
Ekiti governor’s wife calls on government to remove tax on sanitary pads
The wife of Ekiti State Governor, Mrs Bisi Fayemi, has called on government to remove taxation on sanitary pads and engage in its local production to make it less expensive. She said this on Thursday at the inauguration of project P4iGC3, Pad for Improved Girl Child Education, by Balm in Gilead Foundation For Sustainable Development, BIGIF in Ado-Ekiti. Mrs Fayemi explained that such government’s policy was needed to promote the girl-child upbringing and keep them in school. “In rural areas, women do not have access to sanitary products. It is safe to say that one in every three girls in the country cannot afford safe and hygienic sanitary pads for proper menstrual hygiene management” she said. She also called for the sensitisation of adolescent girl child on menstrual health management to...
DPR allays fears of fuel scarcity during easter
File Photo Ahead of the Easter festival coming up by the end of March, the Department of Petroleum Resources (DPR) has reassured Nigerians that there will be no fuel scarcity, urging them to desist from panic buying. It also stated that government has put a formidable policy in place to ensure free flowing supply and distribution of petroleum products during the festivity. Addressing journalists after going round on routine surveillance to monitor and ensure that all retail outlets are complying with the recommended price of between N162 to N165 per litre, the Jos office Operations Controller of DPR, Mr. Stanley Ngene, said: “I can assure you that every necessary precaution is being taken by the government to ensure that we do not go back to the days of fuel scarcity.” Ngene said that the ...
Coronavirus: CBN doubles loan disbursement to N300 billion – bank governor
The Central Bank of Nigeria (CBN) says it plans to double the Targeted Credit Facility (TCF) from the initial N149.21 billion to N300 billion following the resounding success recorded in the disbursement of the Covid-19 loans to the applicants. In his keynote address at the 2nd virtual seminar for Finance Correspondents and Editors at the weekend, the Governor said the Bank took the decision in order to accommodate many more beneficiaries as well as boost consumer expenditure which would positively stimulate the economy. He disclosed that the CBN initially created a N150 billion Targeted Credit Facility (TCF) for affected households and small and medium enterprises through the NIRSAL Microfinance Bank, adding that already, N149.21 billion has been disbursed to 316,869 beneficiaries. “Given...