Metro

Nigeria’s economy will witness positive changes after painful sacrifice— VP Shettima

Published

8 months ago

May 3, 2024

Nigeria’s Vice President, Senator Kashim Shettima, has told Nigerians to look at the bigger picture as the country’s economy will soon witness positive changes after their painful sacrifices.

Shettima who was the special guest speaker at the second Chronicle Roundtable organized by 21st Century Media Services held in Abuja on Thursday, implored on Nigerians to be patient with the administration of President Bola Tinubu as he is determined to “steer the ship of state through the economic turbulence and storm he met on ground on assumption of office.”

“Soon, Nigeria’s economy will experience significant growth once we’ve overcome these sacrifices,” Shettima said while giving his keynote address.

“Positive changes will soon be evident across all economic indicators – inflation, per capita income, GDP numbers, poverty reduction, food security, and all aspects close to the hearts of our people,” he declared.

The Vice President went on to explain some key policy decisions taken by the Tinubu administration as well as its Economic and Social Agenda, including the removal of subsidy on petroleum products, which he described as the ‘biggest elephant in the room’ before President Tinubu took charge.

“We look forward to the positive impact on the economy that will be brought by some of our new initiatives in the oil and gas sector, creative arts sector, the newly rejigged steel and solid minerals sectors, our housing sector, the blue economy, and the digital sectors, to mention but a few.

“There is no doubt that there’s a time to plant and a time to reap. Between those times, we appeal for patience and seek collective sacrifice from all, especially from us. We wish there were a way to treat this ailment without surgery.

“His Excellency, President Bola Tinubu, chose the option that would save the life of the nation, instead of one that would merely prolong its imminent and predicted economic death. Before we took charge, the biggest elephant in the room was the question of fuel subsidy removal.

“We understood why our predecessor made the decision to remove it and refused to budget for it in their final fiscal year.

‘The year before we took office, Nigeria’s debt service-to-revenue ratio had grown to 111.8%. The anticipated debt crisis may sound like fancy economic jargon to the man on the street. But you and I are in a better position to understand how such miscalculations have played out in other countries. It’s an economic death sentence.

“In plain terms, our debt servicing was such that if you earned, say, N100,000, the entirety of the money wasn’t only paid to your debtor; you were forced to borrow an additional N11,800 to pay the debtor.

“How do you intend to survive this? And how many more loans before you become a pariah?

“We are not even discussing the nation’s budget deficits, diversions of resources from critical sectors of the economy, and corruption masterminded in the subsidy regime.”

Click to comment

Metro

Zambia: FOX report highlights persistent media harassment, calls for reforms

Published

14 hours ago

December 18, 2024

Isaac Dachen

A new Freedom of Expression (FOX) report by the Media Institute for Southern Africa (MISA) Zambia, has raised concerns over what it describes as the continued harassment of media professionals in the country despite collective efforts to safeguard freedom of expression.

The FOX Report serves as a call to action for all stakeholders to create a safer and more enabling environment for the media to operate without fear or intimidation.

Chairperson of the MISA-Zambia Board, Lorraine Mwanza, who raised the concerns while launching the report on Tuesday at the Pamodzi Hotel in Lusaka, highlighted that journalists and media practitioners in the country still faced intimidation, censorship, and violence for fulfilling their role of informing the public.

“The harassment of media professionals is a stark reminder of the threats posed to democratic values and the fundamental rights to seek, receive, and impart information without fear or hindrance,” Mwanza said.

She expressed solidarity with those who are targets of attack, and reaffirmed MISA’s commitment to defending journalists’ rights and protecting the integrity of the profession.

Mwanza further called on the government to address barriers preventing journalists from accessing public officials, emphasizing that public officials were custodians of critical information necessary for informed decision-making.

“When citizens have access to government data, they can better understand policies, monitor public spending, and advocate for change in their communities,” Mwanza noted.

She also appealed for the review and repeal of laws that undermine democracy, stressing the importance of enacting legislation that guarantees media freedom, freedom of expression, and digital rights, and commended the government for responding to calls from civil society organizations to withdraw the controversial Cyber Bills from Parliament.

Ministry of Information and Media Permanent Secretary, Thabo Kawana, in a speech read by Ministry Director Mordern Mayembe, reaffirmed government’s commitment to upholding media freedom and freedom of expression in Zambia.

Metro

Nigeria: 614,937 killed, 2.2m abducted in 1 year— Report

Published

23 hours ago

December 18, 2024

Isaac Dachen

A new report released on Tuesday by the National Bureau of Statistics (NBS) has revealed that over 614,937 Nigerians were killed and 2,235,954 others kidnapped across the country in one year between May 2023 and April 2024.

The NBS report, titled, “The Crime Experienced and Security Perception Survey (CESPS) 2024”, says based on the surveys conducted between May 2023 and April 2024, the 2.2 million Nigerians who were kidnapped across the country paid a whopping N2.2 trillion as ransom, with an average amount of N2.7 million per incident.

The report also disclosed that murder rate was highest in rural areas with 335,827 incidents and 279,110 in urban areas.

A zone-by-zone analysis of the report showed that the North-West had the highest murder cases of 206,030, followed by the North-East which stood at 188,992, while the least was recorded in the South-West at 15,693.

The report also revealed about seven in 10 households reported murder cases to the police nationwide with 33 per cent of households responding that the killer was an unknown person, and 23.4 per cent confirmed that the murderer was a member of the household; while 1.0 per cent reported that the murderer was either a spouse or a lover.

The report said 1,668,104 persons were kidnapped in rural areas and 567,850 in urban areas with the North-West having the highest cases of kidnapping with 1,420,307 abducted, followed by the North-Central with 317,837 and the South-East at 110,432.

“Of the estimated amount of N2.2 trillion payments to free victims, the North-West reported the highest ransom paid with N1.2 trillion; while the South-East was the least with N85.4 billion.

“Disaggregated by zones, the North-Central reported the highest proportion of payment of ransom at 83.4 per cent, followed by North-East at 78.6 per cent.

“Households in urban areas paid an average of N3.7 million compared to N2.3 million in rural areas,” the report stated.

It added that about 91 per cent of kidnapping incidents were done for ransom in the form of money, goods or other benefits.

“While 2.4 per cent of cases were attributed to political, criminal, or terrorist objectives; 2.1 per cent were linked to personal or family disputes. Custody disputes accounted for 0.5 per cent of cases,” the report said.