Category: News

  • Borno: ISWAP fighters bury 26 terrorists killed in military bombardments

    Borno: ISWAP fighters bury 26 terrorists killed in military bombardments

    Survivors of the Islamic State of West Africa Province (ISWAP) have buried 26 members in Ngala Local Government Area of Borno State, northeast Nigeria, after sustained aerial bombardment and terrorist elimination.

    The terrorists were killed on September 9 in a coordinated air strike by the Nigerian military on two ISWAP camps in Sigir and Yarwa Kuwa on the outskirts of Lake Chad.

    An intelligence officer told Zagazola Makama, a counter-insurgency expert and security analyst in Lake Chad, that the airstrikes killed a large number of terrorists.

    The source noted that combat aircraft attacked a gathering of the terrorists in Sigir, eliminating 9 of them instantly, while a building which was converted to a mosque and a storage facility was destroyed.
    The source said that another air strike was conducted at Yarwa Kura, leading to the neutralising of 17 terrorists, while many others were wounded.

    Read also: Nigeria, AFD sign €25m grant to boost electricity in Northwest

    He said, “Both locations had earlier indicated a large presence of the adversaries after Intelligence, Surveillance and Reconnaissance missions.”

    According to him, week-long sustained intensified intelligence-led Air Strikes, heavy artillary bombardment and ground, offensives by the Nigerian Military troops of Operation Hadin Kai on the identified hideouts and enclaves of the terrorists in the North Eastern Sambisa forest in Borno State have exerted so much pressure on the fighters and totally disoriented them.

    “But as the jihadists continue to relocate from one hideout to another, the Air force, operating in concert with surface forces, will sustain its offensive against them until they are no more,” he said.

  • Gov. El-Rufai hails military offensive against terrorists

    Gov. El-Rufai hails military offensive against terrorists

    Nasir El-rufai, the governor of Kaduna State, has praised security agencies for their ongoing offensive against terrorists, kidnappers, and other criminals in the state.

    The governor made the remarks on Wednesday in Kaduna, while launching the fourth edition of the Kaduna Book and Art Festival.

    “In the last six weeks, there has been an improved offensive operation against criminals, and we are confident that if it is sustained, people will be able to drive or take the train to Kaduna without fear,” he said.
    He thanked the festival’s organisers for coming to Kaduna to hold the event despite “what people say about the state.”

    Mr El-Rufai said that his vision was to ensure that Kaduna remained a place where everyone feels at home, with no provision for indigene, tribe or religion.

    Read Also: Arsenal-PSV Europa League match moved to October 20

    According to him, what should matter is the common humanity, such that everyone who chooses to live, work and pay tax is indigenous to Kaduna.
    The governor expressed happiness to see many young people doing so well in poetry and writing, doing wonderful things with their lives.

    “The future of Kaduna is in the hands of young people, particularly women; we are determined to give them opportunities to excel.

    Mr El-Rufai also spoke on the 2023 polls, urging citizens to vote people who would address their problems “not those who created them”.
    The News Agency of Nigeria reports that a lifetime achievement award was presented to Prof. Audee Giwa whose creative works delineate the various layers of life experiences in Northern Nigeria.

  • End of COVID-19 in sight, says WHO chief

    End of COVID-19 in sight, says WHO chief

    The world has never been in a better position to end the COVID-19 pandemic, according to Tedros Ghebreyesus, the head of the World Health Organization (WHO).
    This comes as the National Primary Health Care Development Agency (NPHCDA) revealed yesterday that over 47 million eligible Nigerians have already received the COVID-19 vaccines.

    Dr. Faisal Shuaib, Executive Director of the NPHCDA, made the announcement while receiving 604,000 Johnson and Johnson COVID-19 vaccines donated by mobile telecommunications firm MTN-Nigeria.

    According to Reuters, it was Ghebreyesus’ most optimistic assessment of the years-long health crisis that has killed over 6 million people.

    “We haven’t arrived yet.” “However, the end is in sight,” WHO Director-General Margaret Chan told reporters during a virtual press conference.

    That was the most upbeat assessment from the UN agency since it declared an international emergency in January 2020 and started describing COVID-19 as a pandemic three months later.
    The virus, which emerged in China in late 2019, has killed nearly 6.5 million people and infected 606 million, roiling global economies and overwhelming healthcare systems.

    The rollout of vaccines and therapies have helped to stem deaths and hospitalisations, and the Omicron variant which emerged late last year causes less severe disease. Deaths from COVID-19 last week were the lowest since March 2020, the UN agency reported.

    Still on Wednesday, he again urged nations to maintain their vigilance and likened the pandemic to a marathon race.

    “Now is the time to run harder and make sure we cross the line and reap the rewards of all our hard work.”

    Countries need to take a hard look at their policies and strengthen them for COVID-19 and future viruses, Tedros added.
    He also urged nations to vaccinate 100 per cent of their high-risk groups and keep testing for the virus.

    The WHO said countries needed to maintain adequate supplies of medical equipment and healthcare workers.

    “We expect there to be future waves of infections, potentially at different time points throughout the world caused by different subvariants of Omicron or even different variants of concern,” said WHO’s senior epidemiologist Maria Van Kerkhove.

    With over 1 million deaths this year alone, the pandemic remains an emergency globally and within most countries.

    “The COVID-19 summer wave, driven by Omicron BA.4 and BA.5, showed that the pandemic is not yet over as the virus continues to circulate in Europe and beyond,” a European Commission spokesperson said.

    WHO’s next meeting of experts to decide whether the pandemic still represents a public health emergency of international concern is due in October, a WHO spokesperson said.

    “It’s probably fair to say most of the world is moving beyond the emergency phase of the pandemic response,” said Dr Michael Head, senior research fellow in global health at Southampton University.

    Governments are now looking at how best to manage COVID as part of their routine healthcare and surveillance, he added

    Europe, the United Kingdom and the United States have approved vaccines that target the Omicron variant as well as the original virus as countries prepare to launch winter booster campaigns.
    In the United States, COVID-19 was initially declared a public health emergency in January 2020, and that status has been renewed quarterly ever since.

    The US health department is set to renew it again in mid-October for what policy experts expect is the last time before it expires in January 2023.

    Read Also: Police arrest IPOB members allegedly responsible for killing two officers in Ebonyi

    US health officials have said that the pandemic is not over, but that new bivalent vaccines mark an important shift in the fight against the virus.

    They predict that a single annual vaccine akin to the flu shot should provide a high degree of protection and return the country closer to normalcy.

    NPHCDA: Over 47 Million Nigerians Vaccinated against COVID-19

    Meanwhile, the NPHCDA yesterday revealed that over 47 million eligible persons in Nigeria have so far received the COVID-19 vaccines.

    Executive Director of NPHCDA, Dr. Faisal Shuaib, disclosed this while taking delivery of the 604,000 Johnson and Johnson COVID-19 vaccines donated by mobile telecommunication firm, MTN-Nigeria.

    The NPHCDA Boss who was represented at the event, Dr. Bassey Okposen, said as, “at 14th of September 2022, 47,172,937 eligible persons have received the first dose of COVID-19 vaccine representing 42.2 per cent of the eligible population.”

    According to him, 34,242,083 persons have been fully vaccinated, representing 30.6 per cent of eligible persons, while 3,678,412 of the fully vaccinated persons have received their booster doses,

    While commending MTN for their generous offer, Shuaib said the company has demonstrated its wish to see an end to COVID-19 in Nigeria.

    “One can imagine what our dear country would have been facing by now if we did not have support like the one, we are receiving from MTN today.

    “The reason we are gathered here is to officially receive the donation of 604,800 Johnson & Johnson COVID-19 vaccine by MTN to Nigeria.

    “MTN has been a faithful partner in development to the Government of Nigeria, and a great friend of Nigerian people. So, on behalf of the Government and people of Nigeria, I want to thank MTN for this exemplary support.

    “Without equivocation, 604,800 doses of J&J vaccine means a potential 604,800 fully vaccinated Nigerians. This is to say that MTN is wishing Nigeria the fast lane to COVID-19 recovery,” he said.

    Speaking at the ceremony, MTN Nigeria General Manager, Regional Operations, North, Hajia Amina Danbatta, said the company had in collaboration with African Union (AU) and the Vaccine Acquisition Test Scheme, pledged to distribute the Johnson & Johnson vaccines to Africa particularly Nigeria, where it operates, and have subscribers.

    But she explained that as at 2021, the vaccines were not yet readily available for distribution.

    Danbatta noted that, “In 2001, the world was hit by the pandemic and it was a time that every nation was struggling: we didn’t have the vaccines, we were struggling and learning on the go.

    “But, fortunately, the vaccines were developed and these are now being distributed. Now, in conjunction with the African Union (AU) and the Vaccine Acquisition Test Scheme, MTN signed a Memorandum of Understanding (MoU) where MTN will distribute vaccines to Africa particularly Nigeria, where we operate, where we have subscribers and where we operate our businesses.”

    According to her, “And we contacted the Ministry of Health in October 2021, to express our intentions in conjunction with the AU and partners to deliver at least 604, 000 Johnson & Johnson vaccines which is about $25 billion.

    Read Also: Nigeria, AFD sign €25m grant to boost electricity in Northwest

    “And we got approval to deliver last year and here we are today to deliver these vaccines which we believe the Ministry of Health will distribute to those in need.

    “Luckily we’ve had the vaccines coming into the country but this Johnson & Johnson will also be administered to citizens of Nigeria.”

    She added that MTN, being a corporate social organisation had earlier started by educating Nigerians through messages on the six principles needed to be carried out to contain the pandemic.

    Representative of the Country Director of the World Health Organisation, Dr. Walter Mulombo, said vaccines have so far proven to reduce the severity of the COVID-19 disease. He urged all stakeholders to join hands in mobilising Nigerians to come out and take the vaccines so as to stem the tide of infection.

  • Nigerian DJ Commits Suicide In UK

    Nigerian DJ Commits Suicide In UK

    Nigeria and the French Development Agency, AFD, signed a 25 million Euro grant for the Northern Corridor Project to increase power supply in the country on Wednesday.

    According to the Nigerian News Agency, the Northern Corridor Project is co-funded by the European Union and AFD, and is being implemented by the Transmission Company of Nigeria, TCN.

    Read Also: President Buhari presides over council meeting

    The project aims to strengthen West African low-carbon economic growth by improving the quality of Nigeria’s electricity network and supporting the development of a regional electricity market under the West African Power Pool.

  • Nigeria, AFD sign €25m grant to boost electricity in Northwest

    Nigeria, AFD sign €25m grant to boost electricity in Northwest

    Nigeria and the French Development Agency, AFD, signed a 25 million Euro grant for the Northern Corridor Project to increase power supply in the country on Wednesday.

    According to the Nigerian News Agency, the Northern Corridor Project is co-funded by the European Union and AFD, and is being implemented by the Transmission Company of Nigeria, TCN.

    The project aims to strengthen West African low-carbon economic growth by improving the quality of Nigeria’s electricity network and supporting the development of a regional electricity market under the West African Power Pool.

    Speaking at the signing of the agreement in Abuja, Clement Agba, Minister of State for Budget and National Planning said that the project was is in line with the objectives of the National Development Plan 2021 to 2025.

    Read Also: 2023 budget: Senate to slash proposed N6trn import duty waiver by 50%

    Mr Agba said that the signing of the agreement showed that Nigeria was on track in the implementation of the development plan.

    “I want to thank the EU and AFD and the French Government for this intervention in the Nigeria’s power sector especially as it has to do with transmission lines and sub-stations.

    “Power is very essential and what we are signing today demonstrates this. ‘’he said.

    On his part, the Managing Director of TCN, Sule Abdulaziz, thanked the Government of France and EU for their support to Nigeria.

    According to him, the Northern Corridor Project was critical to TCN as it will greatly improve grid stability and the company’s expansion plan.

    Mr Abdulaziz assured all parties of a successful project implementation.

    “Our appreciation also goes to the Federal Government of Nigeria through the Ministry of Finance and the Ministry of Power for facilitating this grant from the government of France and EU,” he said.

    The France Ambassador to Nigeria, Emmanuelle Blatmann, said that France was happy to support the project as this highlighted the strong partnership between Nigeria, France and the EU.

    Ms Blatmann said that she was proud of what AFD had been doing in Nigeria as over the last nine years, France had invested close to 3 billion dollars with 40 projects ongoing in different sectors.

    “These projects are important to us and it shows how important Nigeria is and France is happy to support this particular project we are signing.

    “This illustrates our commitment to help Nigeria achieve the sustainable Development Goals (SDGs) Goal 7 which aims at ensuring access to avoidable, reliable sustainable and modern energy for all.

    “This project is also very important because it contributes to the regional integration of Nigeria within the West Africa and we are key partners to ECOWAS so we will support the strengthen of the West African Power Pool,” she said.

    The ambassador said with this project, which was interconnected grid from Kebbi State to Republic of Niger adding that this will help in the development of a regional electricity market.

    She said that the project would further integrate economic development throughout the region.

    According to her, France was also committed to helping Nigeria achieve its commitment on climate change in line with the Paris agreement.

    Xavier Muron, AFD Country Director in Nigeria said that the project was a technical enabler for the integration into the grid of expected solar farms in the North-Western part of Nigeria.

    Mr Muron said that poor transmission network had been a significant bottleneck in many countries for the achievement of mixed diversification.

    Read Also: Arsenal-PSV Europa League match moved to October 20

    Speaking on behalf of EU, Head of Cooperation, Cecile Tassin-Pelzer said that EU appreciated the Team Europe collaboration with the Government of Nigeria.

    “EU also appreciates its co-funder the AFD, we have been working together in the power sector since 2017.

    ”We are happy about this collaboration particular in the energy and agricultural sector under the Green Economy Team Europe Initiative.

    “The collaboration is a concrete example of how the EU Global Gateway can contribute to major investments in infrastructure development.

    “We are now looking at the implementation of the project which is very important to us,” she said.

  • Arsenal-PSV Europa League match moved to October 20

    Arsenal-PSV Europa League match moved to October 20

    UEFA announced on Wednesday that Arsenal’s Europa League match against PSV Eindhoven, which was originally scheduled for this week, will now take place on October 20.

    Due to a lack of police resources in the aftermath of Queen Elizabeth II’s death last week, the group stage match has been moved from Thursday.

    With the queen lying in state between Wednesday and her funeral on Monday, September 19, a massive police operation is required in London this week.
    “The rescheduling of this match was possible following the Premier League’s decision to postpone the domestic match between Arsenal FC and Manchester City FC, which was originally scheduled to be played on 19 October,” said the governing body of European football.

    Read Also: Ogun kingship tussle claims three lives, houses burnt

    “UEFA would like to thank the Premier League and the clubs concerned for their flexibility and cooperation in the rescheduling of the UEFA Europa League match which had been postponed due to the impossibility for local police forces to guarantee its secure staging,” he added.

  • President Buhari presides over council meeting

    President Buhari presides over council meeting

    President Muhammadu Buhari is presiding over a virtual meeting of the Federal Executive Council at the Presidential Villa Abuja’s Council Chambers.

    The meeting, which began at 09:00 GMT, is physically attended by Vice President Yemi Osinbanjo, Secretary to the Government of the Federation, Boss Mustapha, and Chief of Staff to the President, Professor Ibrahim Gambari.
    Attorney General of the Federation and Minister of Justice, Abubakar Malami, is also present, as are Ministers of Finance, Budget, and National Planning, Zainab Ahmed, Water Resources, Suleiman Adamu, Federal Capital Territory, Mohammed Bello, and Women Affairs, Pauline Tallen.

    Read Also: 2023: Atiku proposes $10bn economic stimulus for agric, others

    Transportation Minister Muazu Sambo, Health Minister Osagie Ehanire, and Special Duties Minister Geoge Akume are among those present.
    The Head of Civil Service of the Federation, Folashade Yemi-Esan and other Ministers are attending the meeting virtually from their various offices in Abuja.

    Details later…

  • Police arrest IPOB members allegedly responsible for killing two officers in Ebonyi

    Police arrest IPOB members allegedly responsible for killing two officers in Ebonyi

    By Shojobi Abisola

    The Ebonyi State Police Command has arrested some members of the Indigenous People of Biafra (IPOB) who are accused of killing two officers last year.

    Chris Anyanwu, the state Police spokesperson, According to a statement, the suspects were apprehended in a yellow mini-bus on Ishieke road while on their way to a deadly mission.

    The police mouthpiece recalled that in May 2021, armed men attacked the Divisional Police headquarters in Ugbodo, in the state’s Ebonyi local government area, killing an Inspector and a Sergeant on duty.
    Anyanwu stated that the command has since deployed tactical teams to monitor the hoodlums’ movements.
    According to him, the personnel recently acted on credible information and intercepted the suspects who were driving in a mini-bus without a registration number.

    Read Also: Infrastructural Development: President Buhari Commends Imo Governor

    He said that on sighting the police team, the hoodlums opened fire, but men of the command demobilized their vehicle and arrested some of them while others escaped.

    Anyanwu listed the names of some of the arrested alleged IPOB members as Chimezie Emeh, Anthony Joseph Osilame, Peter Egbunike, and Ifeanyi Emetu. Others are Longinus Idenyi, Ogbonnaya Neankwo, H Mezie and Eze Nnabuike.

    He said the command also recovered some vehicles, including Toyota Corolla LE, Toyota Camry 2002 model, Toyota Camry (Tiny Light), and Toyota Sienna, 2000 model.
    According to him, the killers of the police officers were among 20 suspects allegedly working for Eastern Security Network (ESN), the armed wing of IPOB.

  • 2023: Atiku proposes $10bn economic stimulus for agric, others

    2023: Atiku proposes $10bn economic stimulus for agric, others

    By Biodun Busari

    Atiku Abubakar, the Peoples Democratic Party (PDP) presidential candidate, has stated that if he wins the 2023 presidential election, he will disburse $10 billion as an Economic Stimulus Fund within the first 100 days in office.

    He stated that he would do so to encourage private sector infrastructure investments and to prioritise aid to agriculture, manufacturing, and micro, small, and medium enterprises (MSMEs).
    Atiku made the announcement on social media on Tuesday evening, following his speech at the Lagos Chamber of Commerce and Industry (LCCI) in Lagos state.

    Read also: 2023 budget: Senate to slash proposed N6trn import duty waiver by 50%

    “Within the first 100 days in office, I will establish an Economic Stimulus Fund with an initial investment capacity of around US$10 billion to prioritise support to MSMEs across all economic sectors,” Atiku stated.
    The former Vice President said for Nigeria to improve the nation’s economy, “Larger volume of non-oil exports will earn more foreign exchange for Nigeria, improve our foreign reserves, and help in stabilizing the Naira. All of these will contribute to growth in GDP.”

    He also stated that “Poverty reduction shall be the centrepiece of our economic development agenda and economic performance shall henceforth be measured by the number of jobs created and the number of people lifted out of poverty.

    “Finally, focus on non-debt financing by promoting a private sector-led infrastructure development fund for the financing and delivery of key infrastructure projects.”

  • Ogun kingship tussle claims three lives, houses burnt

    Ogun kingship tussle claims three lives, houses burnt

    Three people are said to have died during a fight over who will ascend the throne in Agosasa, Ogun State’s Ipokia Local Government Area.

    According to reports, the throne became vacant after the death of the first Oja of Agosasa, Oba James Elegbede, in February 2022.

    It was discovered that, following Elegbede’s death, the race to determine who would ascend the throne had caused tension in the community.

    Youths in the community were said to have staged a protest against the installation of a candidate as the next monarch during the clash on Sunday.
    A source in the community said the youths were against the steps taken by a politician to install the next king.

    A resident, who simply identified himself as Yemi, said a confrontation ensued during the protest, adding that the confrontation denigrated into the clash that allegedly killed the victims.

    He also said no fewer than five persons were injured during the attack.

    “It took the intervention of soldiers, policemen and traditionalists to quell the crisis on Sunday evening. I could not pass through the town while going home,” Dare said.

    Read Also: 2023 budget: Senate to slash proposed N6trn import duty waiver by 50%

    Our correspondent gathered that the attack started again on Monday, and it led to the death of one Nafiu Amosun, who was said to be the closest ally to the candidate the youths in Agosasa community were supporting.

    The youths said Amosun was allegedly shot dead near a river by the other faction and it triggered chaos in the community.

    Another source said two more persons were killed during the clash, adding that the crisis had sent shivers down the spines of residents in the community.

    Meanwhile, indigenes in Ipokia had taken to the social media to call for calm, and urged the state government to take urgent steps to restore peace in Agosasa.

    “There is war in Agosasa. This is not a joke. They should stay action on Agosasa obaship issue for now,” an elder in the community, who refused to disclose his name for security reasons, said.

    The state Commissioner for Local Government and Chieftaincy Affairs, Ganiyu Hamzat, could not be reached as of the time of filing this report.

    The state Police Public Relations Officer, Abimbola Oyeyemi, confirmed the incident, saying one person was shot dead during the clash.

    He said, “The incident in Agosasa is an obaship tussle. Unfortunately, one person was shot. We learnt that some houses and vehicles were razed. But our men are on the ground.

    “The operation is being led by the Deputy Commissioner of Police, Department of Operations. Normalcy has been restored and our men are on the ground to forestall further escalation of the crisis,” Oyeyemi said.

    The police spokesman said some arrests had been made, but he refused to give further details about those arrested.

    Read Also: Buhari Hails CBN, NDIC, NAICOM, Others on Financial System Stability

    Oyeyemi cautioned residents against taking laws into their hands, adding that kingship ascension should be addressed legally.

    He said, “We don’t need to shed blood because of obaship titles. If everyone in the town had been killed before the installation, who would emerge king to rule over the land? It isn’t worth it.

    “Nobody’s ambition is worth the blood of anybody. We should learn how to address issues legally instead of toeing the path of violence. It doesn’t pay anybody,” he said.

  • Infrastructural Development: President Buhari Commends Imo Governor

    Infrastructural Development: President Buhari Commends Imo Governor

    President Muhammadu Buhari has praised Imo State Governor Hope Uzodimma for his efforts in developing the state, saying:

    “You have written your own history,” he said after seeing the rebuilt House of Assembly’s ultra-modern chamber.

    The President made the remark on Tuesday in Owerri, the state capital, while on a working visit.
    President Buhari said his administration will leave a legacy of major development projects across the country, while commending the governor of Imo State for focusing more on constructions and institutional reforms that will improve people’s lives.

    President Buhari, who inaugurated the Owerri/Orlu dual carriage, Owerri/Okigwe road and the renovated House of Assembly Complex, noted that the Imo State government had made remarkable progress with infrastructure in three years.

    “I am delighted to be back in Imo State – the Eastern Heartland – to commission a number of projects executed by the administration of His Excellency, Governor Hope Uzodimma.

    “I am happy to note that within just three years of the administration of Governor Uzodimma, I have made two official visits to Imo State to commission projects in the state.

    “On each occasion, I have received a very warm hospitality of Imo people, for which I am always appreciative. Ndi Imo, Ndewo!

    “As it is often said in local Igbo parlance, a good road deserves a second passage. It is a pleasant coincidence that the name of your Governor, “Uzodimma” is derived from this same idiom. Little wonder, therefore, that he has made the provision of good roads one of his top priorities,” he said.

    Economic Development

    The President said his administration recognizes the importance of critical infrastructure in economic development and was determined to drive the economic development of Nigeria through the provision of vital infrastructure across the length and breadth of the country.

    “This can be seen in our commitment to certain critical projects such as Deep Sea Ports, new airport terminals and buildings, various railway projects, a network of gas and power infrastructure, roads and bridges including the Second Niger Bridge, telecommunications infrastructure to mention but a few.

    Read Also: Buhari Hails CBN, NDIC, NAICOM, Others on Financial System Stability

    “I am therefore happy to see that the APC administration of Governor Uzodimma is doing similar improvement here in Imo State.

    “I commend the Governor for being able to do so with the limited resources at the disposal of the State Government. This proves that when leaders are dedicated and focused, much can be achieved for our people, “ he added.
    The President said the Federal Government will continue to support the government of Imo State to ensure that it continues to provide the dividends of democracy to the people.

    “This support is equally available to all the states of the Federation irrespective of the differences in political party affiliations,’” he assured.

    The President encouraged Imo State indigenes to keep supporting the Governor to actualize his dream for the state, particularly on good governance.

    “In my last visit here, I encouraged you all to support your Governor so that he can do more for the people of Imo state. I am happy that you took my advice and today, he has presented to me three key projects for commissioning.

    “I have just commissioned the dualized Owerri – Orlu road, the Owerri Okigwe road (Phase 1) and the rebuilt House of Assembly Complex.

    “I am told that these two major roads, which I commissioned, cut through several local government areas of the state. The roads will therefore serve as major stimulants to the local economy of these parts of the state,” the President stated.

    President Buhari noted that previous administrations in the state were unable to fix the roads because of their unique and difficult terrains, which were complicated by erosion.

    According to him, “it took the sheer determination and courage of the current government to fix these roads. So, I say “Bravo” to the Governor of Imo State, whose name I was informed means “good road.

    “I was also informed that the House of Assembly Complex which I have just commissioned was dilapidated and abandoned for over 10 years before the intervention of the present administration.

    “This is equally commendable, because of the importance of the legislative arm of government in the sustenance of democracy. I, therefore, applaud the governor for according due respect to this arm of government which is at the heart of our democracy,” he said.

    President Buhari extoled the Government of Imo state for “the road revolution,” describing it as “infrastructure revolution.”

    In his remarks, the Imo State Governor noted that the Owerri/Orlu dual carriage and Owerri/Okigwe road had significant economic value to the state and other neighbouring states.

    “Each of the projects has a remarkable history. Behind the dualized road has been a nightmare for decades,’’ he said, adding that erosion made the construction more difficult.

    Governor Uzodimma said: “To the glory of God we have found the courage, dedication and means to fix the road. The seemingly intractable challenges have been addressed.’’

    Read Also: Sri Lanka, Pakistan among biggest Chinese debtors – World Bank

    The Imo State Governor noted that the renovation of the House of Assembly had made it more befitting for the lawmakers, after it was abandoned for many years.

    The Governor thanked the President for his interventions to ensure development in the South East, with historic projects, like second Niger Bridge, which would gulp the highest single investment in the zone of more than N360 billion, approval for upgrading of the Federal Medical Centre to a teaching hospital and establishment of a naval base in Oguta, Imo State.

  • 2023 budget: Senate to slash proposed N6trn import duty waiver by 50%

    2023 budget: Senate to slash proposed N6trn import duty waiver by 50%

    The Senate will reduce the import duty waivers proposed for the N19.76 trillion 2023 budget, which will result in a N12.4 trillion deficit.

    Solomon Adeola, Chairman of the Senate Committee on Finance, stated this in Abuja on Tuesday during an interactive session with revenue-generating agencies on the 2023-2025 Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP.

    According to Mr Adeola, the reduction became necessary due to the projected N12.4 trillion deficit in the 2023 budget estimates and the nation’s current dwindling revenue profile.

    Mr Adeola stated that a concerted effort must be made to reduce the growing budget deficits, and that borrowing trends cannot be allowed to continue unabated.
    He said there was an urgent need to look inward towards increased revenue generation and blocking of leakages.

    Read also: School Resumption: Tonto Dikeh Urges Parents To Be Courageous

    “About six trillion was provided as waiver for companies in the 2023 proposal, but we should reduce it by 50 per cent.

    “I don’t think we can accommodate that, we need to reduce the six trillion waiver by 50 per cent,” Mr Adeola said.
    Mr Adeola also urged the Ministry of Finance to place 63 Government Owned Enterprises, GOEs, on cost of collection to fund their expenditures with immediate effect.

    This, he said, would generate more revenue to fund the deficit envisaged in 2023 budget.
    According to him, placing the agencies on cost of collection would spur the GOEs to collect more, because the more they generate, the more they receive.

    Mr Adeola also called for a review of pioneer legislation status on tax of some companies in the last five years.

    The Minster of Finance, Budget and National Planning, Zainab Ahmed, in her presentation on overview of 2023-2025 MTEF/ FSP disclosed that the Federal Government revenue for 2023 was projected at N6.34 trillion.

    According to her, N373.17 billion would be generated from oil sources, while the balance of N5.97trillion would be earned from non-oil sources.

    She also said the budget deficit for 2023 was projected to be N12.41 trillion, while the federal government’s 2023 aggregate expenditures was projected to be N19.76 trillion.

    Read also: Agosasa: Gov Abiodun vows to arrest sponsors, perpetrators of violence

    Responding to questions from senators, she said that it was the assumption of government that fuel subsidy would be exited by June 2023.

    She, however, expressed hope that the parliament would see a better way of ensuring exist of fuel subsidy.

    She said the deficit envisaged in the budget was a concerned and debt serving was consuming a chunk of the nation’s revenue.

    Mrs Ahmed said there was need to improve the revenue and reduce leakages inherent in the system.
    “One of the ways to increase our revenue, is to strengthen our monetary generating enterprises and to provide real sanctions to defaulters based on the fiscal responsibility act.

    On issuing tax credit to some companies and waivers, she said: ”Tax credit are issued only when companies construct projects and the projects are certified and certificate issued by the Federal Ministry of Works.

    She also said that some of the waivers are backed by laws enacted by the legislature, adding that a review of the waivers would require an amendment to such laws.
    The Controller -General of Nigeria Customs Service, NCS, Hamid Alli, in his presentation, said the NCS was working on implementing the collection of telecommunication tax in 2023 to boost the nation’s revenue.
    He said the NCS projected a target of N2.8 trillion revenue collection for 2023, N3.5trillon for 2024 and N3.75trillion for 2025.

    The Chairman Federal Inland Revenue Services, FIRS, Muhammad Nami, told the committee that tax credit was an important innovation of government that has yielded positive results from Sept 2019 when it was introduced through Executive order 007 by President Muhamnadu Buhari
    He urged the committee not to legislate against it as it was only given to companies with evidence of projects execution.

    Read Also: Buhari Hails CBN, NDIC, NAICOM, Others on Financial System Stability

    He informed the committee that out of the N6.08trillion projected revenue from January to July 2022, FIRS generated N5.59trillion and assured that the N10.4trillion projected for the year, would be achieved.

    The revenue generating agencies expected to appear at the five-day programme to make presentation on their revenue projections for the 2023-2025 MTEF-FSP includes the Central Bank of Nigeria, CBN, Nigeria Port Authority, amongst others.

  • Kwara musician, others bag 20 years for cybercrime

    Kwara musician, others bag 20 years for cybercrime

    Justice Muhammed Sani of the Federal High Court in Ilorin, Kwara State, convicted and sentenced a Lokoja-born musician, Samuel Onojah, and two others to 20 years in prison for cybercrime-related offences.

    Onojah was convicted alongside Victor Kadiyamo and Jejelowo Segun on Monday, September 12, 2022, after pleading guilty to separate counts of internet fraud.

    The Economic and Financial Crimes Commission’s Ilorin Zonal Command charged them in court.

    The charge against Samuel read in part, “That you, Samuel Onojah, sometime in May 2022, at Lokoja, Kogi State, within the jurisdiction of the Federal High Court, fraudulently impersonated one Richard Philips via your Instagram account linked to your gmail account: richardphilips6211@gmail.com with intent to obtain money from one Erika which you did obtain the sum of 8 pounds worth gift cards and thereby committed an offence contrary to Section 22 (2) (ii) of Cybercrime (Prohibition Prevention) Act, 2015, and punishable under Section 22(2)(b)(iv) of the same act.”
    Following their pleas, the counsel to the EFCC, Andrew Akoja reviewed the facts of the cases and prayed the judge to convict and sentence them accordingly.

     

    In his judgment, Justice Sani convicted and sentenced Onojah to three years imprisonment on counts one and two, with an option of N100,000 on each count.

    Kadiyamo was also convicted and sentenced to three years imprisonment on counts one, two and three, with options of fine of N100,000 on counts one and two, while count three carried an option of fine of N54,194,680.

    In the same vein, Segun was convicted and sentenced to five years imprisonment with an option of fine of N500,000.

  • Buhari Hails CBN, NDIC, NAICOM, Others on Financial System Stability

    Buhari Hails CBN, NDIC, NAICOM, Others on Financial System Stability

    President Muhammadu Buhari praised the Central Bank of Nigeria (CBN), the Nigeria Deposit Insurance Corporation (NDIC), the National Insurance Commission (NAICOM), and the Securities and Exchange Commission (SEC), among other critical stakeholders, for the apex bank’s diligent work over the years to ensure financial system stability.

    Buhari also stated that his administration would continue to support the entire banking and finance industry in all appropriate ways to ensure that mandates are met while creating value innovation for customers.
    The president made the remarks at the start of the 15th Annual Banking and Finance Conference, which was held in Abuja and had the theme “Repositioning the Financial Services Industry for an Evolving Glocal Context.”

    Buhari, also said the government was committed to securing lives and property within the country and would not relent in ensuring a safe and secure environment for citizens as well as productive activities to thrive, noting that the menace of terrorism and banditry had been plaguing the country over the years.

    He said, “Indeed, the fight to rid our country of banditry, kidnapping, and insurgency is being intensified at all fronts.”

    Also, on the rising inflation, which had continued to cause increasing hardship for Nigerians, the president assured that his administration had over the years implemented several policies to combat inflation including an increase in Monetary Policy Rates (MPR) as well as a 30 per cent markup on savings rates.

    He said these policies were geared towards mopping up excessive liquidity in the economy while encouraging savings and investment, stressing that government would continue to cushion these adverse effects through its social safety net programmes.

    However, he said the government would continue to formulate and implement policies that are aimed at promoting self-sustenance in critical areas including energy, agriculture, health, and technologies, adding that the outputs of the conference would be valuable in shaping relevant policy initiatives.

    Buhari, who was represented at the ceremony by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, pointed out that the annual conference of the CIBN, among other things, provides a credible annual platform for a holistic review and evaluation of the performance of the sector by industry practitioners and regulators while charting the path for the future.
    This, he said, explains why his administration had always ensured that government participation at the conference is at the highest possible level.

    Buhari also expressed the need for a Nigeria of the future that harnesses her strengths, competences, and cultural diversity to confront current challenges plaguing the people, ranging from climate change to pandemics and insecurity.

    Buhari, specifically noted that the theme of the conference was particularly relevant considering the need to constantly adapt internationally acceptable best practices to improve the efficiency and effectiveness of the sector in playing its primary role of holding financial assets, financial intermediation and capital formation.

    He said the expediency of discussions on repositioning the sector within an evolving global context cannot be over-emphasised as it stands to benefit from the experiences of other nations in navigating through emerging issues such as the fall-out from the COVID-19 pandemic and the ongoing Russian-Ukraine war which have global implications on financial service delivery in local economies.

    He said under the new regime, the role and significance of the finance industry cannot be overstated in driving economic prosperity by providing opportunities to create SME start-ups, expand existing business interests and create more jobs thereby pushing the local brand overseas to frontier markets.

    The president added that repositioning the finance services industry involved valuable innovations to ensure global solutions reach local indigenous customers.

    He said the recently executed African Continental Free Trade Agreement (AfCFTA) represented a typical reference point as the deal creates a continent-wide market embracing 55 countries with 1.3 billion people and a combined GDP of $3.4 trillion.
    Buhari said the first phase of the regional trade agreement, which took effect in January 2021, would gradually eliminate tariffs on 90 per cent of goods and reduce barriers to trade in services.

    He pointed out that the finance sector would serve not just as an intermediary for lenders and borrowers but in creating a new ecosystem consisting of platforms where ordinary Africans can buy and sell their locally made products despite currency disparity as being practiced on the Pan-African Payment and Settlement System (PAPSS), a brainchild of Afrexim Bank.

    Buhari, among other things, noted that over the past seven years, his administration had through various initiatives supported the repositioning of the Nigerian economy within an evolving ‘glocal’ context.

    He further listed the intervention measures to include support of Nigeria’s creative industry and indigenous Small and Medium-sized businesses as well as the agricultural sector which have enhanced the capacity of indigenous enterprises to compete with their counterparts from other countries., adding that these efforts would be sustained and extended to more sectors of the economy.

    He said the resolution of global issues within the local context would continue to give impetus for economic prosperity in local communities, adding that climate change, eroding purchasing power due to inflation and insecurity are currently being tackled at both local and global levels.

    However, in his remarks, the President of CIBN, Mr. Ken Opara, said the banking industry was not oblivious of the “brain drain or Japa syndrome” currently affecting the country’s workforce.

    As a result, he said the development had necessitated research finding on the topic “The Analysis of Human Capital Attrition in an Evolving ‘GLOCAL’ Context: A Case Study of the Nigerian Banking Industry,” adding that the CIBN would present the outcome of research work during the conference.

    Read Also: US, Nigeria Agree on Gas Deployment in Push for Renewable Energy Sources

    Opara said the COVID-19 pandemic had been a wake-up call for the financial services industry, exposing gaps in digital service provision and cost structures.

    He said, “COVID-19 proved a powerful catalyst for change. Banking’s digital transformation accelerated beyond everyone’s imagination, as radically new ways of working remotely and serving customers facing dire circumstances were launched at a fast pace. Mobile app transaction processing rocketed.

    “Cash and cheque usage dropped dramatically, replaced by high volumes of electronic and card payments. Business lending to keep the economy afloat was off the scale.”

    He said as the world continues to evolve, the financial services industry would need to explore innovation and reconfigure its business and operating platforms – in some cases requiring making profound changes to succeed in the future.

    However, in his keynote address, the Chairman, Union Bank of Nigeria Plc, Mr. Farouk Gumel, said the banking industry must help support the kind of growth that leads to inclusivity, and accused financial system operators of embracing banking innovation at the detriment of rural communities.

    He criticised ongoing conversations by some banks on the need to achieve operational efficiency by shutting down branches.

    Gumel argued that rather than close branches, the best approach was to embrace the idea of re-branching.

    He stated that banks don’t really require a big structure but rural branches targeted at the rural communities to drive financial inclusion.

    He said, “You have to be next to somebody to convince him to trust you and I think that is how the banking system should look at it.

    “Efficiency counts but you have to be inefficient if you are dealing with people in the rural areas.”

    He said there has been a disproportionate level of progress in the banking sector without consideration for the rural population who are often neglected.

    Specifically, he called for increased credit support for under-served Nigerians to enable them actualise their entrepreneurship aspirations.

    Gumel, among other things, also said banking technology should not entirely take the place of human resources in the current model.

  • Agosasa: Gov Abiodun vows to arrest sponsors, perpetrators of violence

    Agosasa: Gov Abiodun vows to arrest sponsors, perpetrators of violence

    Dapo Abiodun, Governor of Ogun State, has vowed to pursue the sponsors and perpetrators of the obaship crisis that claimed lives and property in Agosasa, Ipokia Local Government Area of the state.

    It was reported yesterday that three people died on Monday after some angry youths set fire to houses and cars.

    The youths were protesting the alleged efforts of some local politicians to impose an unpopular candidate as the next Oja of Agosasa.

    Abiodun condemned the violence in a statement issued by his Chief Press Secretary, Kunle Somorin, on Wednesday, declaring that anyone found culpable in the skirmish would be arrested and prosecuted in accordance with the state’s existing laws.

    Read Also: Ekiti Assembly approves constitutional amendment for establishment of state police

    The governor said Ogun is known to be peaceful and serene for investment, saying his administration would not allow any individual or group of individuals to thwart the peace being enjoyed in the state.

    Read Also: Sri Lanka, Pakistan among biggest Chinese debtors – World Bank

    Abiodun, while expressing displeasure over the incident he described as unfortunate, said there are legitimate channels issues of obaship could be addressed without recourse to violence.

    He reiterated that his administration would not allow breakdown of law and order, vowing that perpetrators of the Agosasa mayhem would not go unpunished.

    The governor, while calling for calm in the town, said he had directed the police in the state to restore peace in the town, ensure normalcy and fish out those behind the violence with the view of prosecuting them accordingly.

    He, however, assured the residents of Agosasa that adequate security will be provided, urging them to remain calm and go about their normal businesses without fear.

  • US, Nigeria Agree on Gas Deployment in Push for Renewable Energy Sources

    US, Nigeria Agree on Gas Deployment in Push for Renewable Energy Sources

    Mr. John Kerry, the United States’ Special Envoy on Climate Change and a member of the country’s security council, assured Nigeria yesterday of the country’s technical assistance in its efforts to decarbonize its energy sources.

    Kerry, a former US Secretary of State, said during a visit to the Minister of State for Petroleum Resources, Mr Timipre Sylva, in Abuja that the two countries agreed to collaborate closely in the deployment of gas as a transition effort as part of the move toward clean and renewable energy.
    In addition, the United States announced yesterday that it would commit $200 million to assist Nigeria and other countries in transitioning to clean energy sources more quickly. In Abuja, the US Special Presidential Envoy for Climate Change announced this during a separate courtesy visit to the Minister of Environment, Mohammed Abdullahi.

    Furthermore, while briefing the press on the outcome of the meeting with Sylva, Kerry, a former US lawmaker, noted that the country was interested in Nigeria’s methane abatement and decarbonisation programme, promising that the initiative would be supported by his country’s Department of State, Energy.

    Kerry stated that it would be completely irresponsible for the United States not to acknowledge the reality of the climate change challenge, stressing that 80 per cent of all the emissions in the world come from just 20 countries.

    At the same time, he admitted that 48 sub-Saharan African states were responsible for just 0.5 per cent of all emissions, but said no country embarked on the industrial revolution with the intention of polluting the world.
    “Mother nature, whose life has been greatly disturbed by the act of human beings, doesn’t measure whether the emissions are Chinese emissions or US emissions or Europe emissions. It’s the conglomerate of all the emissions.

    “And the challenge of the climate crisis comes from the emissions that come the choices we make, about how we power our vehicles, our homes, light our homes, heat our homes, and how we have energy that cooks and provides for our lives. That’s just the reality,” he added.

    Stressing that Nigeria was one of the countries in Africa that would suffer the most from the consequences of the climate crisis, he explained that although he was not in the country to tell Nigeria that it was emitting too much, Nigeria needed to know that its policies would have a profound impact on the global effort to solve the problem.

    Quoting scientists, Kerry stated that to avoid the worst consequences of the climate crisis, the world has to reduce its emissions by a minimum of 45 per cent or up to 50 per cent.
    “What we don’t want to have happen is that Nigeria and other countries make a decision that they’re going to build out a capacity infrastructure that is going to undo what we’re trying to do and set us back,” the US envoy stated.

    “I don’t know if you know this, but literally one half of the gas Nigeria vented, or flared, or leaked was 10 billion cubic metres of methane. That’s according to the recent World Bank report. And according to the global methane pledge energy pathway, that is equivalent to over half of Nigeria’s total gas consumption which was vented, flared or leaked.

    “That’s money lost to Nigeria and if you capture that, you can sell it at a place like Europe, they have a high need for that now. So there’s a great benefit to Nigeria to be involved in the methane pledge and to move forward,” Kerry stated.

    “We are convinced that there are significant abilities to have greater amounts of clean energy deployment in terms of solar and geothermal which cannot only provide you with clean fuel and it’s cheaper, it’s less expensive.

    Read also: Two suspected kidnappers killed, victims rescued in Kwara

    “So we’re not going to solve every problem here today. But I think we have set up a structure with a working group that’s already been announced previously, but we want that working group to kick into higher gear.

    “We want to figure out exactly how we could be helpful to each other as we go forward. What Nigeria decides to do because of its amount of gas will have a profound impact on what other countries decide. We want to be certain to try to do everything we can to avoid the worst consequences of this crisis,” he noted.

    Stressing that President Joe Biden had put $12 billion on the table as part of that programme, in order to help countries to reduce the obvious impacts of the climate crisis, he added that the rapidity of the melting of the ice sheets, the rising sea level, the increased heat on the planet was not what should be joked with.

    “15 million people die every year from the quality of the air that comes from pollution, which is greenhouse gases. 5 million people a year die from just the extreme heat and that’s getting worse. So our urgency cannot be stated strongly enough,” he said.

    In his comments, Sylva said both countries agreed on the need to work together on global gas emission reduction, stating that a team has been set up to work out the details.

    He insisted that the “lesser evil” was to provide energy to Nigerians by utilising gas, explaining that at this moment, Nigeria is not the biggest contributor to global carbon emissions.

    “In fact, I will just tell you that in the scenario, that 48 countries in Africa contribute just 0.5 per cent of carbon emissions. And if we double our power production and consumption in this country, at this moment using gas, we will only be increasing carbon emissions by another 0.5 per cent.

    “That means we’re only responsible for contributing about 1 per cent of global carbon emissions. We are not denying the fact that climate change is real. We accept the problem of climate change.

    “And we will also like to say that on the energy transition, we have certain realities that the world must take into account. Our reality is that we have this number of people without access to electricity, but we don’t have the funding and the technology to be able to achieve this transition,” he added.

    Also, Kerry said the United States would commit $200 million to help Nigeria and other countries transit faster to clean energy sources.

    He said this known during a courtesy visit to the Minister of Environment.

    He said the support, captured under the US Clean Energy Demand Initiative, would help countries to implement the buying and production of green products.

    Kerry signed a memorandum of understanding (MoU) with the minister on the initiative, saying the programme would also help to address the climate crisis and create jobs for Nigerians.

    “The initiative is also to accelerate the marketplace creation so that it will help the transition programme faster and help to achieve a clean energy economy as well as dealing with the climate crisis.

    “We have $200 million at the moment committed to startups in the process of safety for the programme. But we know that ultimately this transition is going to take billions of dollars and even trillions of private investments.

    Read also: Two suspected kidnappers killed, victims rescued in Kwara

    “We talked today about the ways in which we can be helpful to bring a major amount of capital to the table with technology to help Nigeria move faster to the clean energy economy. That is the future and all of the citizens of Nigeria will benefit from cleaner air.”

    “You are a producer of fossil fuel you have enormous gas reserves. But you also have great respect for the land and great concern about how to proceed forward. And so I would like to explore with you and listen to you to think through how we can work together as you implement your own climate change,” he added.

    Reacting, the Minister, thanked the US government for considering Nigeria as one of the countries to participate in the Clean Energy Demand Initiative.

    He assured that the ministry was committed to working with the US government for the effective implementation of environmental programmes and to achieve net zero in Nigeria.

  • ASUU strike: Monarch, others stranded as protesting students block Lagos-Ibadan expressway

    ASUU strike: Monarch, others stranded as protesting students block Lagos-Ibadan expressway

    Motorists on the Lagos-Ibadan Expressway were stranded for hours yesterday as university students protested the continued strike by members of the Academic Staff Union of Universities, ASUU.

    The students, who were acting on behalf of the National Association of Nigerian Students, NANS, obstructed traffic at the Sagamu Interchange.
    Oba Adekunle Oyelude, Tegbosun 111, the Olowu of Kuta in Osun State, was stuck in traffic on his way to Lagos.

    Oba Oyelude, who addressed the students, commended them on their orderly behaviour.
    He urged the Federal Government and ASUU to find a solution to the crisis because students had remained at home for too long doing nothing.

    But the protesting students, in a statement by the Coordinator, South-West Zone and National Public Relations Officer of NANS, Messrs Adegboye Emmanuel and Giwa Temitope respectively, said the President Muhammadu Buhari-led Federal Government has failed in its promise to revamp education.

    The students vowed to mobilise towards shutting down the Presidential Villa if their demands are not met.

    The statement reads: “There is no point arguing about who is at fault or what is to be done. It is very clear that the ruler underfunds education and the Buhari government is failing in its promise to revamp education.

    Read also: NCC, NSCDC align to tackle telecom crimes

    “As it is today, no higher institution in Nigeria is world-class. Yet, our so-called public servants travel all over the world spending billions of dollars to send their kids abroad for studies.

    “As major stakeholders in the education sector, we are the ones who can save ourselves. We have monitored the yearnings of students from campus to campus through their social media platforms and also in their public writings. Students all over Nigeria stand with ASUU. Our lecturers suffer the same hardships and mal-developments we suffer. The staff houses are as bad as the students’ hostels. In South Africa, a professor’s laboratory is far more equipped than that of any university in Nigeria.

    “History has been killed and undermined, so we the youths, do not know where we are coming from not to talk of knowing where we are headed. But we will not lament anymore. The new leadership of NANS is here to work with students to achieve our set aims and objectives. We believe that the student movement has its place in history. It is a task that we vow to fulfil. We will never let Nigerian students down.”

  • Sri Lanka, Pakistan among biggest Chinese debtors – World Bank

    Sri Lanka, Pakistan among biggest Chinese debtors – World Bank

    Adoba Echono, Abuja

    According to a World Bank report, South Asian countries such as Sri Lanka, Pakistan, and the Maldives are engulfed in Chinese debt.

    Pakistan owes China $77.3 billion in foreign exchange, while Maldives owe China 31 percent of its GDP (GNI). By the end of 2020, the Maldives’ total debt will be MVR 86 billion, with external debt accounting for MVR 44 billion.

    According to a World Bank report from 2020, 97 countries around the world are in debt to China. Countries that owe China a lot of money are mostly in Africa, but they can also be found in Central Asia, Southeast Asia, and the Pacific.

    One Belt and Road Initiative
    China is reaching out to the majority of countries through the One Belt, One Road initiative.
    The world’s low-income countries owe 37% of their debt to China in 2022, compared to just 24% in bilateral debt to the rest of the world.

    The Chinese global project to finance the construction of the port, rail, and land infrastructure across the globe has been a major source of debt to China for participating countries.

    Those with the highest external debt to China are Pakistan $77.3 billion, Angola 36.3 billion, Ethiopia $7.9 billion, Kenya $7.4 billion, and Sri Lanka $6.8 billion.

    Maldives
    According to statistics released by the Finance Ministry, Maldives’ debt rose to MVR 99 billion by end of Q1 2022. It made up 113 percent of GDP.

    The projects in the Maldives funded with loans from China include the construction of the Sinamale Bridge and the airport development project.

    Bangladesh
    Bangladesh too is a part of China’s Belt and Road Initiative.

    Dhaka owes 6 percent of its total foreign debt to Beijing, which is around $4 billion.

    According to a report from FT, Bangladesh is seeking a first installment from the IMF of $1.5 billion, as part of a total package worth $4.5billion.

    ” This amount would include a financial line to help it fund climate change resilience projects and buttress its budget,” reads the report.

    According to the IMF, Bangladesh had a total foreign debt of $62 billion in 2021. The majority of the debt is owed to multilateral lenders such as the World Bank.

    Djibouti and Angola
    The countries with the biggest debt burdens in relative terms were Djibouti and Angola, where debt to China exceeded 40% of gross national income, an indicator similar to GDP but also including income from overseas sources.

    The equivalent of 30% of GNI or more in Chinese debt affects the Maldives and Laos, with the latter just having opened a railway line to China, which is already causing debt issues for the country.

    Sri Lanka
    In Sri Lanka in May 2022 was the first country in two decades to default on its sovereign debt. Chinese debt to Sri Lanka was the fifth-highest overall in late 2020 and amounted to 9% of the country’s GNI.

    Read also: Five killed in Ifeanyi Ubah’s convoy attack – Police

    According to the Financial Times, which called the development in Sri Lanka and elsewhere China’s first overseas debt crisis, the country had to renegotiate loans worth $52 billion in 2020 and 2021—more than three times the amount that met this fate in the two previous years.

    China has provided record amounts of financing to developing countries over the past two decades, supporting both public and private sector projects.

    The Belt and Road Initiative is President Xi Jinping’s flagship foreign policy initiative; launched in 2013 to invest in almost 70 countries and international organizations, it has propelled China to global dominance in international development finance.

    China’s Belt and Road Initiative has caused dozens of lower- and middle-income countries to accumulate $385 billion in “hidden debts” to Beijing, a new study has claimed.

    AidData, an international development research lab based at Virginia’s College of William & Mary, says 13,427 Chinese development projects worth a combined $843 billion across 165 countries, over 18 years to the end of 2017.

    China has faced criticism for its lending practices to poorer countries, accused of leaving them struggling to repay debts and therefore vulnerable to pressure from Beijing. China has rejected this criticism and calls it a “propaganda/narrative of the vested interested countries” to tarnish its image.

  • NCC, NSCDC align to tackle telecom crimes

    NCC, NSCDC align to tackle telecom crimes

    The Nigerian Communications Commission (NCC) has joined forces with the Nigerian Security and Civil Defence Corps (NSCDC) to combat some of the criminal activities plaguing the telecom industry, including telecom equipment vandalism and fraudulent registration of Subscriber Identity Module (SIM) cards.

    Professor Umar Danbatta, Executive Vice Chairman of the NCC, recently addressed a gathering of senior management staff of NSCDC in the South West Zone at a workshop organised by the Commission, and praised the Memorandum of Understanding (MoU) signed between the agency and the Commission, for which the gathering was to explore how the Corps will deploy enabling laws, subsidiary legislations, and existing guidelines to arrest any form of criminality in the sector.
    Danbatta, who was represented at the workshop by the Director, Compliance Monitoring and Enforcement at the Commission, Mr Ephraim Nwokonneya, said over the years, the NCC has been working with relevant law enforcement agencies and in particular, the NSCDC, towards protecting the telecom sector from all kinds of criminal behaviour.

    Read also: Nigeria’s insecurity, indebtedness painful — Anglican Bishop

    “Through despicable activities that are criminal and totally at variance with national security concerns of government, the deviant elements in our midst have been acting to undermine efforts put in place to consolidate the gains of the sector,” the EVC said.

    Danbatta declared that “these criminal activities include theft and vandalism of telecommunications infrastructure, the illegal use of fraudulently-registered Subscriber Identification Module (SIM) cards, operating without a license, illegal call masking, and so on.”
    He said while the NSCDC officers have been of tremendous assistance, the objective of the workshop was to constantly engage and update them on new trends and existing regulations, requiring concerted efforts for their implementation towards enhancing sanity in the telecom sector.

    Danbatta said the NSCDC and other agencies have done very well with the assistance of their personnel in carrying out raid exercises and mopping up fraudulently-registered SIM cards found in circulation, as well as in raising the banner of awareness on the need to protect critical national telecom infrastructure.

    Read also: Boundary disputes worsen insecurity, 676 killed in states

    Some of the topical issues discussed at the workshop covered the activities of the Commission as presented by the relevant departments in the context of laws and other regulations, and in relation to the roles of NSCDC, as depicted in the presentation made by the NCC’s Head of Enforcement, Mr Salisu Abdu, during the workshop.

  • Two suspected kidnappers killed, victims rescued in Kwara

    Two suspected kidnappers killed, victims rescued in Kwara

    In an exchange of gunfire, two suspected kidnappers were killed by Kwara State police command operatives.

    They were accosted in the bush while attempting to split the ransom collected from the families of two kidnapped victims.

    The kidnappers allegedly abducted Afusat Lawal (f) and her son Taofeek Lawal on Tuesday in Shao town, Moro Local Government Area, Kwara State.

    They were kidnapped and whisked away around 23:20 hours, according to Okasanmi Ajayi, spokesman for the State Police Command, in a statement issued in Ilorin on Wednesday.

    He announced the victims’ rescue following an intensive and painstaking search and rescue operation by the Command’s Tactical teams, who were assisted by Vigilante and hunters.
    Okasanmi said “the kidnappers were accosted in the bush while trying to share the ransom collected from the family of the victims; they opened fire on the operatives immediately they were sighted.

    Read Also: Nigeria’s insecurity, indebtedness painful — Anglican Bishop

    “During exchange of fire, two of the kidnappers that suffered gunshot injuries in the encounter were arrested and taken to the University of Ilorin Teaching Hospital where they were confirmed dead.

    “Consequently, their corpses were deposited in the hospital mortuary for autopsy.”

    The spokesman said exhibits recovered from the kidnappers included “one Honda Accord Saloon car with Reg. Number LAGOS GJ 52 LSR, one single barrel gun and an unspecified amount of money.”

    Effort is still being intensified to get other fleeing members of the gang for prosecution, he added.

    Okasanmi further disclosed that the rescued victims have reunited with their family after being certified medically stable.