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Video: Amid unpopular reforms, W’Bank chief insists Nigeria must ‘stay in course’ for 15 years

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In this video, Indermit Gill, the Vice President and Treasurer of the World Bank who also serves as the Pension Finance Administrator of the World Bank Group, at an event in Abuja, Nigeria’s capital, commended the recent fiscal and monetary reform policies of the government.

He noted that implementing such reforms was impossible without strong resolve from the political class. He also commended the central bank’s decision to raise interest rate.

The central bank has had to hike its policy rate by a huge 850 points in the last 9 months to boost confidence in the Naira and anchor inflationary expectations.

“But this is only the beginning, Nigeria will need to stay the course for at least another 10 to 15 years to transform its economy,” the World Bank chief stressed.

Gill’s remark brings to mind the age-long argument on the actual interest of multilateral bodies in their engagements with developing countries, largely African states, whether through loans or policy framework. Some have argued that the institutions are only bent on impoverishing the continent through policy positions like the removal of subsidy and the devaluation of currencies, both of which Nigeria under the current administration has done under two years— leading to unprecedented inflation rate and soaring cost of living.

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Video: Nigeria’s Vice-President Shettima questions Badenoch’s migration stance

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In this video, Nigeria’s Vice President, Kashim Shettima, lends his voice to the trending issue of migration in the global arena. Shettima addressed the leader of the Labour Party in the United Kingdom, Kemi Badenoch, stressing that even if she changed her first name, that would not change Nigeria’s position as “the greatest black nation on earth.”

Migrants are the source of life in all societies, Shetimma argued.

Since becoming the leader of the UK Conservative Party, Badenoch, who is of Nigerian descent, has pledged to enforce stricter immigration policies, warning that the current pace of migration risks were overwhelming public services and undermining social cohesion.

Over the last few decades, migration numbers in the UK have generally been comparable to those in other high-income nations. Addressing issues around migration has become a strong political and policy topic in the UK, with the previous administration under Rishi Sunak pushing for an unconventional approach to the matter by sending migrants to Rwanda, East Africa.

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#GhanaDecides : Ghana’s former VP Bawumia concedes defeat (Video)

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In this video, Ghana’s ruling New Patriotic Party candidate, Mahamudu Bawumia, concedes defeat in the recently concluded presidential election.

“Ladies and gentlemen, we have conceded defeat like any consummate Democrat would do. But we have not abandoned the fight to transform Ghana and expand opportunities to all sections of our society. We will not be a disruptive opposition.”

In Ghana, members of Parliament are chosen by first-past-the-post voting in single-member constituencies, but the president is chosen through a two-round process.

Former President John Mahama, the candidate of the National Democratic Congress, secured a majority in the first round, enough to be declared the president-elect.

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