Connect with us

Metro

Fuel subsidy removal, a blessing to Nigeria, govt insists

Published

on

Despite the excruciating hardship and hunger resulting from the unplanned removal of fuel subsidy by President Bola Tinubu as well as other policies, the Nigerian government says the decision is a blessing to the country as it has started yielding dividends.

Government mouthpiece, the Minister of information and National Orientation, Mohammed Idris, who made the assertion while interacting with journalists in Lagos, said that fuel subsidy removal had started delivering dividends as over $30 billion Foreign Direct Investments (FDI), had been attracted into the country so far.

Idris says though the people are feeling the pangs, the ultimate goal is that the country is reaping the benefits of the “bold reforms” carried out by President Tinubu.

“Because of subsidy removal, Nigeria has attracted over $30billion foreign direct investment in various sectors especially in manufacturing, telecommunications, healthcare, oil and gas among others,” the Minister said.

“These investments are already being realized. From the data provided by the National Bureau of Statistics, NBS, the Nigerian economy had grown by 3.46 per cent in the third quarter of 2023 against 2.4 in the preceding quarter. It was a better performance that was actually anticipated.

“There is something happening in the economy, it is gradual and it takes time before tangible results are seen by all.

“Only those who know how the financial system works will be able to see some of these things already happening. In January this year, the Nigeria stock exchange all share index recorded 100.000 point mark,” he said.

The Minister however, berated the Nigerian media over what he calls unbalanced reports, and challenging journalists to always balance their reportage with the positive things that the government had done in order not to scare potential investors, noting the various interventions by the federal government to cushion the effects of subsidy removal.

“To begin with, the monies that were given to the sub-nationals increased significantly. Governors that were earning less, finding it difficult to pay salaries now have more money at their disposal as a result of fuel subsidy removal.

“We are aware of the N35,000 that Labour has been clamouring for, the emphasis would be that by October 1, the President said he is going to give N25,000 wage award to every worker pending the new wage being negotiated with labour,” he added.

Metro

MCC grants Zambia $458m compact deal to boost agro-business

Published

on

The Millennium Challenge Corporation (MCC) has granted Zambia a compact of $458 million following more than $377 million in previous grant funding.

MCC Principal Deputy Vice President, Kyeh Kim made the announcement on at the MCC Headquarters in Washington, D.C., while celebrating the completed negotiations, while Charles Tembo, the First Secretary for Press and Public Relations at the Zambian Embassy in Washington, D.C., relayed the information to the African country.

In a statement, Kim highlighted that the deal was the fastest ever negotiated in MCC’s history and praised the Zambian government for its dedication to improving the lives of its people.

“This will continue to push for the prosperity of the Zambian people. The compact started about three years ago. I am hopeful that the agriculture sector will improve agro-business,” she said.

She further expressed confidence that the collaboration between MCC and Zambia would yield positive results and emphasized the importance of maintaining the same spirit and cooperation during the implementation process.

Secretary to the Zambian Treasury, Felix Nkulukusa, noted that the preparations and commitment from both MCC and Zambia demonstrated a strong desire to foster economic growth.

“We are sure that the implementation will be in the shortest time. The first compact taught us valuable lessons, and we are confident that the second compact will be implemented even more effectively,” Nkulukusa said.

Zambia’s Ambassador to the United States, Chibamba Kanyama, also expressed optimism that the renewal of AGOA would enable Zambia to increase its agricultural exports.

“The proposed compact is anticipated to target the agriculture and agro-processing sectors, which have been identified as the most promising areas to unlock inclusive economic growth,” Kanyama statec.

Continue Reading

Metro

#EndBadGovernance Protests: Please be patient with Tinubu’s govt, monarchs beg Nigerian youths

Published

on

Some prominent traditional rulers in Nigeria have pleaded with Nigerian youths and organizers of the planned nationwide #EndBadGovernance protests scheduled to commence on August 1 to be patient with the President Bola Tinubu administration as the president was working hard to make the country better.

The monarchs, who made the plea following a meeting with Tinubu on Thursday at the Presidential Villa in Abuja, called for calm over the planned nationwide protest meant to demonstrate against the prevailing economic hardship in Nigeria.

President Tinubu had called for the emergency meeting with state governors on the platform of the All Progressives Congress (APC),
prominent traditional rulers and Islamic religious scholars known as Ulamas, as part of efforts by the government to ensure the planned hunger protests is averted.

The protests which are being organised under the hashtag #EndBadGovernance, have gained significant traction on social media prompting the government to engage the traditional rulers urging them to talk to their subjects to shelve the protests.

After the meeting, the revered monarchs including the Sultan of Sokoto, Muhammad Sa’ad Abubakar III, the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Emir of Zazzau, Ahmed Bamalli, and Dein of Agbor Kingdom, Ikenchukwu Keagborokuzi I, pleaded with Nigerians to give the government time to make things work in the country.

“The President has said, ‘any leader that you don’t like, wait (until 2027) and vote him out.’ He is open to dialogue. We know that Nigeria faces many challenges. But are we going to destroy our nation by ourselves? Is that what we are all after?” Oba Ogunwusi who co-chairs the National Council of Traditional Rulers of Nigeria, said.

“It is very difficult to build, but it is the easiest to destroy. We are all stakeholders in this country and are stronger as a nation than individually.

“We should talk to ourselves. We need to know that today, it’s a completely different spin. The government, ably led by the President, is willing to engage and dialogue and bring governance very close to the people.

“People that are out there to protest, it is their civic right. But let them put a face to it and don’t let it be hijacked by people that have ulterior motives. That is our stand.

“We the traditional rulers are not in support of people, especially youths, coming out to loot and break down law and order. We condemn such acts fully. We are parents, we are traditional rulers, and we are closer to them (youths). We are going to go back home and continue to engage them.”

On his part, the Emir of Zazzau said traditional rulers were worried about the protests, adding that they could shut down the country.

“There’s nobody who will not be worried about the protests; we’ve seen what has happened in other climes, where governments had been brought down.

“As an ex-diplomat, I have seen what happened in other climes and that is why I am in the position to say what happened in other places.”

“We have made it very clear to President Tinubu that the main problem in this country, especially the north, is insecurity. If the security situation is addressed, certainly people will go back to their farms and the issue of hunger will drastically reduce and disappear,” Bamalli added, urging Nigerians to exercise patience and to listen to the words of wisdom.

“We are very optimistic Nigeria will bounce back to its former position as the leading country in Africa.”

The Dein of Agbor Kingdom also appealed to Nigerian youths to work with the FG using all available opportunities.

“Hearing from Mr. President directly, the take-home message for me is that I can see the passion. But at the same time, I think the government finally understands we are at the precipice.

“We will listen to our youths because they lead the future. The power and strength of Nigeria certainly lie with the young people. We feel your pain. I’m a young person myself.

“It’s been 24 years since I’ve started seeing the nation going in a very unpalatable direction. This protest, I know that it’s very tight in our neck, but let us not destroy our own country,” said the traditional ruler.

“Think of Libya. Libya was a beautiful country; what has happened to Libya, we don’t want it to happen here.

“Let’s go home. Let’s continue to strive to be the best that we can and continue to work with the government to see if we can offer some solutions.

“I think that that would be best rather than to destroy property or injure ourselves,” he advised.

Continue Reading

EDITOR’S PICK

Culture5 hours ago

Trevor Noah set for ‘Off the Record’ world tour

South African comedian and talk show host, Trevor Noah, has announced a date for his “Off The Record” global tour...

Tech6 hours ago

SA mobility startup LULA acquires UK-based Zeelo’s operations

South Africa’s mobility startup, LULA, has announced the acquisition of the operations of UK-based Zeelo in a move that will...

Sports6 hours ago

Ngannou accuses Joshua of employing dirty tactics in their fight in Saudi Arabia

Former UFC heavyweight champion, Francis Ngannou, has accused British-Nigerian boxer, Anthony Joshua, and his promotion team of employing unfair and...

Metro15 hours ago

#EndBadGovernance Protests: Please be patient with Tinubu’s govt, monarchs beg Nigerian youths

Some prominent traditional rulers in Nigeria have pleaded with Nigerian youths and organizers of the planned nationwide #EndBadGovernance protests scheduled...

Culture1 day ago

UNESCO removes Senegal’s Niokolo-Koba National Park from list of World Heritage sites in danger

The United Nations’ Educational, Scientific and Cultural Organization (UNESCO) has removed Senegal’s Niokolo-Koba National Park from the list of World...

Metro1 day ago

At Project Aliyense discourse, panelists call for balance between free speech, ethical considerations

The government has been urged to balance freedom of speech with ethical considerations and laws that prevent harm to others....

Tech2 days ago

Adenia Partners acquires Air Liquide’s operations in 12 African countries

Adenia Partners, a leading private equity firm, has completed the acquisition of Air Liquide’s operations in 12 African countries, adopting...

Metro2 days ago

We will handle planned nationwide protests as family matter— Nigerian Govt

The Nigerian government says it will handle the planned #EndBadGovernance protests scheduled to commence on August 1 as a family...

Culture2 days ago

Veteran Nigerian entertainer Charly Boy vows to divorce wife if Kamala Harris doesn’t win US presidential election

Veteran Nigerian entertainer, Charles Oputa, popularly known as Charly Boy, has vowed to divorce his wife of 47 years if...

Victor Osimhen scored his first hat-trick for Napoli (Photo Credit: Getty Images) Victor Osimhen scored his first hat-trick for Napoli (Photo Credit: Getty Images)
Sports2 days ago

Saudi club Al Hilal places African transfer record bid for Osimhen

Saudi Arabia club side, Al-Hilal, have reportedly made an African transfer record bid for Super Eagles and Napoli striker, Victor...

Trending