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Firm cautions Nigerian government over sale of national assets
Agusto Consulting has cautioned the federal government over its plan to relinquish national assets to private hands, saying, the risk involved is unquantifiable. Agusto Consulting, in a report titled “Rethinking Nigeria’s Models for Infrastructure Development,” noted that, the benefits of relinquishing control to the private sector are glaring, but remain difficult to implement. Noting that the federal government’s handing off certain critical assets of the country that have been dormant over the years will positively impact on the country’s budgetary allocation, but added that this decision has caveats and risks associated with operating models that involve private sector participation regardless of the levels of participation. “First is the high level of corruption in the country and the...
Bodies of coronavirus victims among those dumped in India’s Ganges – document
Bodies of COVID-19 victims have been found dumped in some Indian rivers, a state government said in a letter seen by Reuters, the first official acknowledgement of an alarming practice it said may stem from poverty and fear of the disease in villages. Images of corpses drifting down the Ganges river, which Hindus consider holy, have shocked a nation reeling under the world’s worst surge in infections. Although media have linked the recent increase in the numbers of such bodies to the pandemic, the northern state of Uttar Pradesh, home to 240 million people, has until now not publicly revealed the cause of the deaths. “The administration has information that bodies of those who have succumbed to COVID-19 or any other disease are being thrown into rivers instead of being disposed of as per p...
Governor Obaseki: No record of Indian coronavirus variant in Edo
Governor Godwin Obaseki of Edo State on Friday said there was no record of Indian COVID-19 variant in the state, as was speculated on social media. The governor stated this in Benin at a news conference to provide an update on COVID-19 response in the state. Mr Obaseki was represented by the Permanent Secretary from the state Ministry of Health, Osamwonyi Irowa. He said the federal government had on April 26, taken precautionary steps by restricting international travel from India, Brazil and Turkey to curtail COVID-19. “We as government have reached out to the Nigeria Center for Disease Control (NCDC) with regards to any Indian variant in Edo and the verified information reveals that the said sample was collected in January. “There is currently no update or report suggestive of any such o...
Sustaining economic empowerment through financial inclusion, energy access
Financial inclusion and provision of sustainable energy is at a turning point in Africa’s largest economy, Nigeria. With a population of over 200 million, about 50 per cent of the total population live in rural areas, and only 39 per cent of those living in rural communities have access to electricity. This is in addition to over 40 per cent of the entire population who are financially excluded or underserved. However, the proliferation of digital financial services in Nigeria – powered largely by growth in fin-tech companies – has catalysed an unparalleled increase in the current number of people with access to formal financial services, while further opening up opportunities to address power supply challenges across rural communities; a major feat instrumental towards achieving the broad...
Nigerian farmers raise alarm as insecurity threatens food availability
Some concerned parties in the agriculture sector have appealed to the federal government to intensify efforts in curbing banditry, kidnapping and terrorism, as these can threaten food security. The parties made the appeal in separate interviews with newsmen on Friday in Abuja. They noted that the recent increase in kidnapping and banditry had made a lot of farmers run from their farmlands in search of safe hideouts. The Executive Secretary, National Agricultural Land Development Authority (NALDA), Paul Ikonne, said there was a need to urgently address the insecurity challenges in the country in order to overcome the challenge of food shortage. Ikonne noted that dialogue remained critical in addressing issues of insecurity and herders, adding that a peaceful dialogue between farmers and her...
World Bank: Nigeria responsible for over 40 percent diaspora remittances in Sub Saharan Africa
The World Bank says Nigeria is responsible for over 40 percent of diaspora remittances in Sub Saharan Africa (SSA). In a statement on Wednesday, the Washington-based financial institution said remittances to SSA declined by an estimated 12.5 percent in 2020 to $42 billion. The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria, “Remittances to Sub-Saharan Africa declined by an estimated 12.5 percent in 2020 to $42 billion,” the statement read. “The decline was almost entirely due to a 27.7 percent decline in remittance flows to Nigeria, which alone accounted for over 40 percent of remittance flows to the region. “Excluding Nigeria, remittance flows to Sub-Saharan African increased by 2.3 percent. “Remittance growth was reported in Zambia (37 percent), ...
INEC approves creation of 4,861 additional polling units in Lagos
Independent National Electoral Commission, INEC, Lagos State, has concluded plans to create additional 4,861 polling units in the state. The Commission’s Resident Electoral Commissioner in Lagos State, Sam Olumekun, who announced this at the Election Stakeholders’ forum on Monday, held in Ikeja, explained that the move became necessary to tackle the usual voter apathy and boost voter access to polling units in exercising their fundamental rights to vote. The forum was part of sensitization and public enlightenment of Stakeholders by the commission towards engendering active participation in future election exercises. He stated: “Polling Units are central to the electoral process and therefore democracy at large. Voter access to Polling Units is at the very heart of representative democracy...
Edinson Cavani offered £50K pay rise to stay at Manchester United
Manchester United plan to keep Edinson Cavani at Old Trafford for the 2021-22 season by offering the striker a wage increase of £50,000, according to reports. The Uruguayan has cemented himself as Ole Gunnar Solskjaer’s first-choice striker during the second half of the 2020-21 campaign, playing a pivotal goalscoring role both domestically and in Europe – most notably in the Europa League semi-final tie with AS Roma, against whom he scored four goals over two legs. United do not have the option to extend the 12-month deal Cavani signed last summer, and it has been generally assumed the 34-year-old would return to South America this summer. However, Cavani can choose to add another year to his current deal, and according to The Sun, United plan to give the 34-year-old extra incentive to rem...
CBN governor seeks PPP model to improve healthcare infrastructure
Bloomberg The Central Bank of Nigeria (CBN) has urged stakeholders in the public and private sectors to collaborate to build a more healthy and robust healthcare infrastructure in Nigeria. The CBN Governor, Mr Godwin Emefiele, made the call at a movie launch titled: “UNMASKED”, a feature documentary on leadership, trust and the COVID-19 pandemic in Nigeria. The movie was produced and directed by Mr Femi Odugbemi, a Nigerian documentary filmmaker, and co-produced by Ms Kadaria Ahmed, a renowned journalist, media entrepreneur and television host, on Friday in Lagos. According to Emefiele, addressing the public health crisis along with the downturn in the economy required strong coordination. He said the measures and interventions put in place by the CBN and private sector to improve governme...
CBN governor vows to block maize importation
Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele on Thursday vowed to resist importation of maize as Nigerians have the capacity and capability to grow the crop locally to meet consumption demand. On that note, he has urged youths across the country to embrace agriculture, declaring the bank’s readiness to support those ready to venture into it. Emefiele made the declaration in Katsina at the unveiling of the first maize pyramid and flag-off of the 2021 maize wet season farming under the CBN-Maize Association of Nigeria (MAAN) Anchor Borrowers’ Programme. He averred that Nigerian youths could leverage their talents, along with technological tools to improve farm productivity and delivery of agricultural produce to markets. While noting that agriculture offered significant benefi...
Official: Lagos residents consume N5 trillion worth of food annually
The Lagos State Government says residents of the state are consuming food and agricultural produce worth about N5 trillion annually. Ms Abisola Olusanya, the Commissioner for Agriculture, made this known at a news conference on Thursday in Lagos to commemorate the second year in office of Gov. Babajide Sanwo-Olu’s administration. Olusanya said that the amount might increase to N6.3 trillion by 2030, if the population of the state grew to 30 million. “It is worthy to note that in terms of the amount of food we consume in Lagos on an annual basis, it is almost N5 trillion. “If the population is to grow to about 30 million by 2030, Lagos will likely need food worth N6.3 trillion on an annual basis,’’ she said. According to her, currently, Lagos is producing about 20 to 24 per cent of its food...
BudgIT: Over 315 capital projects duplicated in 2021 budget
BudgIT BudgIT, a civic-tech non-profit organisation, says it has uncovered 316 duplicated capital projects worth N39.5 billion in the 2021 budget. In a statement, Iyanu Fatoba, communications associate at BudgIT, said the organisation’s findings is contained in its publication titled, “Demanding Budget Reforms for Resource Optimization”, released on Tuesday. On December 31, President Muhammadu Buhari signed the 2021 appropriation bill of N13.588 trillion into law. The signing was done more than a week after federal lawmakers passed the budget and raised its total sum by N508 billion. Speaking on the report, Gabriel Okeowo, BudgIT’s CEO, said out of the identified 316 duplicated projects, 115 are in the ministry of health. He said the development is “very disturbing” as the country is battl...
