Grants

Nigerian lawmakers approve $2.4 bn funds for security, coronavirus vaccines

Nigerian lawmakers on Wednesday approved some 982.7 billion naira ($2.4 billon) additional budget funds to help the government buy COVID-19 vaccines, and equipment for its security forces. Africa’s top oil producer, Nigeria is struggling with the economic impact of the pandemic and a slump in crude prices as well as surging violence from criminal gangs and its grinding jihadist insurgency. The approved amount is $216.8 million higher than President Muhammadu Buhari’s request made to the lawmakers in June and is expected to be sourced through international and local borrowing. Most of the funds – around 722 billion naira ($1.8 billion) would go towards the procurement of additional equipment for security forces, Senator Barau Jibrin, chair of the senate appropriation committee, said. Around...

AfreximBank to support Ogun infrastructural development with $200 million

The African Export-Import Bank (Afrexim) has disclosed its plans to support infrastructural development in Ogun State with an envelope of $200m. The fund, according to the bank, will be dedicated towards projects and other developmental initiatives embarked upon by the incumbent administration in the state. The President and Chairman of the Board of Directors of the Afrexim Bank, Benedict Oramah, who made this known when he led management of the bank on a courtesy visit to Governor Dapo Abiodun at his Oke-Mosan Office, Abeokuta, on Monday, equally said the bank would partner Ogun on ensuring that the 250-bed Specialist Hospital, Abeokuta, is completed and begin operations soon. Oramah, while noting that the bank has been investing heavily in the health sector in Africa to develop vaccines ...

Coronavirus: Kwara governor urges resident to remain vigilant

The Kwara State Government has urged citizens of the state to remain vigilant and protect themselves against Covid-19 infection despite the government’s success in containing the disease. The Kwara State Governor, AbdulRahman AbdulRazaq, expressed this yesterday while receiving the Nigeria Covid-19 Action Recovery and Economic Stimulus Committee. Represented by his Deputy, Mr Kayode Alabi, the Governor said Covid – 19 has wreaked havoc in the world but had been contained by State Government’s proactive intervention and public support. AbdulRazaq applauded the Federal Government’s NG CARES Initiative for prioritising the vulnerable and cushioning the effect of Covid – 19 by supporting each state with 20 Million Dollars in World Bank Group grants. The Governor assured Kwarans of proper use o...

Twitter pushes back on ban by Nigerian government

Micro blogging social platform, Twitter, has pushed back on ban by the Federal Government. It described it as brazen affront on citizens fundamental human rights and advised its users and other social media platforms in the country to download virtual private networks (VPNs) to enable them continue to use the platforms for their economic survival and social and political engagements while the “push back on this draconian order by the Nigerian government.” In a statement, Twitter said: “Today, the 4th of June 2021, the Federal Government of Nigeria announced its suspension of Twitter operations, that the application can be used as a platform for activities capable of undermining Nigeria’s corporate existence. “Many Nigerians read the announcement of the ban on Twitter as a reflection of the...

VP Osinbajo: General Attahiru, others’ death shows depth of military sacrifice

Vice President Yemi Osinbajo has noted that the death of the Chief of Army Staff, Lt. Gen. Ibrahim Attahiru and others in Friday’s air crash shows the depth of sacrifice of the military. Expressing shock and sadness at the occurrence, Osinbajo said in a statement issued by his spokesman, Laolu Akande, on Saturday that “their death while in active service in the defense of our country reflects the depth of sacrifice our military officers, men and women of the other ranks are often prepared to make.” The statement quoted the Vice President as saying: “I received with great sadness the news of an air crash involving the Chief of Army Staff, Lt. General Ibrahim Attahiru, and other officers of the Nigerian military yesterday. “Their death while in active service in the defense of our country re...

Nigerian governors to meet Wednesday over financial autonomy for state legislature, judiciary

Governors of the 36 states are scheduled to hold a teleconference on Wednesday to deliberate on the executive order 10 which grants financial autonomy to the state legislature and judiciary. In a statement issued on Monday and signed by Abdulrazaque Bello-Barkindo, head of media and public affairs of the Nigeria Governors’ Forum (NGF), there will also be discussions on measures to prevent a third wave of COVID-19 infections in the country. Bello-Barkindo said the forum will take updates on the State Fiscal Transparency, Accountability And Sustainability (SFTAS), among other issues. “The meeting, which is the 30th of its kind by the Nigeria Governors’ Forum, commences at 2pm prompt but Governors are expected to start logging-in from 1pm,” he said. “The meeting will cover lessons for States ...

Edo to spend N3 billion on economic recovery programme

Edo state government will spend over N3 billion to implement the Covid-19 Action Recovery and Economic Stimulus Programme. The programme is a component of the Nigeria Cares World Bank Support Programme. The Permanent Secretary in the state Ministry of Wealth Creation, Cooperatives and Employment, Joel Edionwe, disclosed this while briefing journalists on Wednesday. He explained that the state government‎ is to provide grants to support businesses affected during the Covid-19 lock-down. According to him, the total package the World Bank support programme for Nigeria is $750 million, adding that its implementation would run from 2021 to 2022. “What they will get from Edo state government is a grant to repay the loans they took for their businesses affected by the pandemic. We do not need to ...

Kebbi governor: Why we can’t pay leave grant, gratuities

Gov. Atiku Bagudu of Kebbi, on Saturday, thanked the organised labour in the state for their patience, understanding and maintaining very good relationship with the government. The governor, who spoke during activities organised to mark the 2021 Workers Day in Birnin Kebbi, however, said his administration would not be able to pay the 2020 leave grant of workers and outstanding gratuities. “NLC is aware of the burden of gratuities the government inherited and how far we have gone in trying to clear the debts. “In spite of the dwindling resources, the state government still pays salaries, runs the government and puts in some infrastructure in the state. “The union should liaise with the Ministry of Finance for a way out. “On the 2020 leave grants, the state cannot afford to pay but you shou...

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...

Nigeria to benefit as G-20 approves extension of debt relief

Finance ministers of G-20 countries have approved an extension of debt relief for the world’s poorest nations till December 2021. David Malpass, World Bank president, made the announcement at the virtual spring meeting, on Wednesday. TheCable had earlier reported that the G-20 countries will meet this week to consider an extension of the debt freeze. The G-20, is a group of finance ministers and central bank governors from 19 of the world’s largest economies, including those of many developing nations, along with the European Union. G-20 countries had established a debt service suspension initiative (DSSI) which took effect in May 2020. Nigeria had benefited from the initiative which delivered about $5 billion in relief to more than 40 eligible countries. The suspension period which was or...

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...

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