Tinubu addressing challenges arising from reforms, says presidential aide.

Tinubu addressing challenges arising from reforms, says presidential aide.

President Bola Tinubu is already taking measures to address the challenges brought about by the reforms introduced by the administration in all sectors of the economy.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement on Saturday in Abuja, adding that more such measures would be taken in 2024.

He said Tinubu had never shied away from acknowledging the temporary pains triggered by the reforms, stressing that proactive measures would continue to be taken.

‘’Many of these measures are already being taken and in the New Year, we expect the silver linings, that are at present understated, to blossom into rays of sunshine to be experienced by all Nigerians.

‘’The removal of fuel subsidy and the move to merge foreign exchange rates, two headline reforms introduced by the Tinubu administration since late May.

“(It’s caused by) problems such as high fuel prices and the depreciation of the Naira, two monstrosities which combined to cause a general spike in costs of services and goods,’’ Onanuga said.

He said that the latest report from the National Bureau of Statistics put Nigeria’s inflation at 26.7 per cent in September, which rose to 28.2 per cent in November from 27.33 per cent in October, adding that food inflation remained untamed.

Onanuga stated, ‘’The truth is that the new policies alone are not solely responsible for the economic problems we are facing today. We were destined for the tough and rough patch, where we are today because of the prevailing conditions before Tinubu took over on May 29.

‘’As of June 2023, the budget deficit was N10.8 trillion. Actual debt service was 98.95 per cent of revenue, far higher than the projected 59.37 per cent. Inflow into the country’s foreign reserve came in trickles.

‘’And so bad was the state of affairs that Nigeria could not remit about $800 million fund of foreign airlines. JP Morgan exposed our near insolvency by claiming in a report that our net foreign reserve was just about $3.7 billion, not the $33 billion-plus flaunted by Emefiele’s CBN.

‘’President Tinubu, who promised during the campaign to take hard and difficult decisions, moved to tackle the economic problems from Day One, by first dispensing with the wasteful fuel subsidy that was billed to consume about N7trillion this year, five times more than what was provisioned for capital spending.’’

He also said that the situation was, however, taking a positive turn with the NBS report of the third quarter of 2023, adding that the president was focused on turning the economy around for growth, development and prosperity.

‘’In its third quarter report for the year, the NBS reported that GDP grew by 2.54 per cent. In a similar period in 2022, GDP recorded a growth of 2.25%. To demonstrate that the sun may be shining on us again, the 2.54% GDP growth recorded in Q3, was also higher than the 2.51% recorded in Q2.

‘’The service sector, made up of information and communication, financial and insurance, was responsible for the growth witnessed in Q3. It had a 3.99% growth, contributing 52.7% of the aggregate GDP. The agriculture sector declined from 1.34% growth in Q2 to 1.3% in Q3.

‘’Growth was also recorded in construction and real estate, metal ores (69.76%), coal mining (58.03%), chemical and pharmaceutical products (6.77%), cement (4.2%) and construction (3.89%).

‘’Oil reported a negative growth of 0.85%, a major improvement to the negative 22.67% recorded at the same period last year. It was 13.43% in Q2 of 2022.

‘’The improvement in the oil sector and its contribution to GDP has been attributed to the improvement in the security of oil infrastructure and operations, leading to increased production.,’ the President’s aide noted.

He said that there was a big jump in the volume of trade from N12.16 trillion in Q2 to N18.8 trillion, adding that trade volume in Q2 of 2022 was N12.28 trillion

‘’We also recorded a trade surplus of N1.89trillion in Q3, an increase from the N708.8 billion in Q2 2023. In Q3 of 2022, we recorded a trade deficit of N409.39 billion.

‘’Value of exports in the third quarter was N10.35 trillion, far higher by 60.78 per cent than the N6.44 trillion posted in Q2 2023. Crude oil dominated the export, accounting for 82.5 per cent, a confirmation that our country is pumping out more oil for export unlike the previous years”.

NAN

Oyebanji expresses condolences on Dejumo Lewis’ death.

Oyebanji expresses condolences on Dejumo Lewis’ death.

Ekiti State Governor, Mr Biodun Oyebanji has expressed condolences on the passing of veteran actor and producer, Dejumo Lewis, aged 80 years. 

Lewis a film and television actor, famous for his Kabiyesi role in “The Village Headmaster”, Nigeria’s longest-running television series shown on NTA from 1968 to 1988, passed on Saturday. 

Governor Oyebanji, in a statement signed by his Special Adviser on Media, Yinka Oyebode, described the late actor as one of the leading lights of television production in the seventies and eighties, where his prominent role in the Village Headmaster series, earned him a place in the hearts of viewers nationwide. 

He described Lewis, who hailed from Erijiyan Ekiti as a bundle of talent, adding that the late actor, together with the rest of the cast redefined television drama and became household names in the process. 

“Another iroko in the entertainment world has fallen. Dejumo Lewis was not just an actor, he was a man of distinction and thoroughbred professional who deployed his skills in the development of the nation’s entertainment sector. 

“The Government and good people of Ekiti State, the Land of Honour, mourn the departed soul. But we are consoled by the fact he lived an impactful life and left his footprints on the and of time. 

“Our prayer is that God would grant him eternal rest, and console his family”, the Governor added.

Yuletide Celebration: Hon. Comrade Idowu Odebunmi ID-ALUTA Gifts Bags of Rice to Ekiti Students Leaders.

Yuletide Celebration: Hon. Comrade Idowu Odebunmi ID-ALUTA Gifts Bags of Rice to Ekiti Students Leaders.

....Pledges Unwavering Support for Student's Union.

In a spirit of festive generosity, Hon. Comrade Idowu Odebunmi ID-ALUTA, the Chairman of the House Committee on Youth and Sports Development, Innovation, Science, and Digital Economy, extends a heartfelt gesture by gifting bags of rice to Ekiti Students Leaders during the Yuletide celebration. Additionally, he reassures them of his continuous support for the Student's Union.

Hon. Comrade Idowu Odebunmi ID-ALUTA emphasizes the importance of emulating God's lifestyle during the Yuletide season, calling for the embodiment of values such as peace, harmony, and happiness among the student community.

During the presentation, Hon. Odebunmi urged the student leaders to align themselves with the developmental plans outlined by Governor Oyebanji for the youths and students. He emphasized the pivotal role the students' union can play in advancing the agenda for greater development in the youth and student sectors of the state.

Beyond the festive gifts, Hon. Comrade Idowu Odebunmi ID-ALUTA advises student leaders to utilize their offices effectively for the benefit of the students under their care. He encourages them to champion initiatives that promote academic excellence, student welfare, and a conducive learning environment.

Expressing his commitment to the welfare of students, Hon. Comrade Idowu Odebunmi ID-ALUTA pledges continuous support for the Student's Union, ensuring that their voices are heard and their needs addressed.

As the Yuletide celebration unfolds, Hon. Comrade Idowu Odebunmi ID-ALUTA's benevolent actions stand as a testament to his dedication to the well-being and development of Ekiti students, fostering a spirit of camaraderie and support within the academic community.

Nigerian student jailed 40 months in UK for terrorism threat.

Nigerian student jailed 40 months in UK for terrorism threat.

A 26-year-old Nigerian Master’s student at Dundee University, Scotland, Somtochukwu Okwuoha, has been sentenced to 40 months in prison for making terrorism threats against staff and students of the school, BBC reports Friday.

Okwuoha, an international energy studies student, will also be deported after a Peth Sheriff Court found him guilty of the charge.

Witnesses revealed how the student had claimed to have a military background and was capable of making bombs and unleashing a deadly virus on the city.

Okwuoha, who arrived in the United Kingdom in 2021, also stated that he had enlisted the terror group, ISIS, to help bomb the university and told staff of his plan to target the city in a chemical attack.

Sheriff William Wood said, “Your presence in the United Kingdom is not conducive to the public good, and I make a recommendation for your deportation in due course.”

“You were abusive towards her and tried to have her removed from her university course,” after he had threatened a fellow female student who refused his advances.

“The university decided to suspend you from your course and you turned your attention towards staff.

“You threatened mass murder, terrorism, said you would plant bombs and use biological weapons,” the charge read.

Okwuoha, a prisoner at Perth, was found guilty of threatening to murder staff at the university and committing terrorist crimes between December 2021 and June 2022.

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He was found guilty of threatening to commit mass murder, using biological weapons, revealing staff details to international authorities and claiming to have planted bombs.

He was also found guilty of threatening to behead police officers and detonate bombs he had planted at Dundee University.

‘Blood spill’ threat

A witness, Keith Mackle, 58, now a retired director of student services, told Perth Sheriff Court he became aware of “serious concerns” in the autumn of 2021.

He said staff members received emails making terrorist threats.

“Expect a massive bomb explosion at the University of Dundee. I have contacted ISIS terrorists to plant bombs on campus.

“I can assure you staff and students will die in great numbers. 9/11 will be a joke compared to what will happen.

“Blood will spill and flesh will be scattered,” another witness stated.

Accommodation officer, Shane Taylor, told the court Okwuoha accused him of being racist and said he planned to wipe out Scottish people as revenge.

Tinubu’s wife disburses N25m to 250 Delta senior citizens.

Tinubu’s wife disburses N25m to 250 Delta senior citizens.

The First Lady, Oluremi Tinubu, has disbursed N25 million to 250 elderly men and women from the 25 Local Government Areas of Delta State.

The cash presentation through the Renewed Hope Initiative under the Elderly Support Scheme was held on Friday at the Government House, Asaba, the Delta State capital

The Wife of Delta State governor, Mrs Tobore Oborevwori, who represented Tinubu at the event, also provided clothing materials and free medical checkups to the elderly citizens as support for the gesture.

In her address, Tinubu expressed joy at the inaugural edition of the Renewed Hope Initiative Elderly Support Scheme themed “Better Days Ahead.”

She emphasised that the economic empowerment program symbolises a dedication to the well-being of elderly citizens, representing a significant step forward in the collective pursuit of a more inclusive and compassionate society.

She said, “The scheme aims to support 250 vulnerable elderly citizens aged 65 and above in all 36 states of the federation, the Federal Capital Territory, and veterans from the Defence and Police Officers’ Wives Association.

“The selected beneficiaries are to receive a sum of N100,000 each to alleviate economic burdens during the festive period.

“The total sum to be disbursed is Nine Hundred and Fifty Million Naira (N950,000,000), as approved by the Governing Board of the Renewed Hope Initiative.

“Each state of the federation will receive N25m without discrimination.”

Tinubu further emphasised the importance of prioritising elderly citizens during the festive season, honouring their contributions, and recognising the unique challenges they face.

She appreciated all who supported the event with free medical screening and the distribution of other sundry items to the beneficiaries.

Welcoming the senior citizens, Oborevwori who spoke through the Director General, You Matter Charity Foundation, Lawrentta Ogbedo, expressed great pleasure at the presentation of the cash sums, adding that the gesture of the Renewed Hope Initiative is timely and commendable.

While acknowledging the challenging economic situation in the country, she highlighted the scheme’s impact on families, particularly the elderly, who now face financial difficulties.

The governor’s wife commended Tinubu’s efforts to alleviate the economic strains on the senior citizens during the festive period adding that the gesture is well appreciated by the people of the state.

Reps meet minister on palliatives, loans for SMEs.

 Reps meet minister on palliatives, loans for SMEs.

The House of Representatives Committee on Small and Medium Enterprises on Friday met with the Minister of Finance and Coordinating Minister of Economy, Wale Edun, on key aspects of implementation of the presidential palliatives grants and loans.

The committee’s Chairman, Mansur Soro, who led the team to ascertain the extent of funding and releases so far made to implementing Ministries, Departments and Agencies, disclosed this in a statement made available to journalists on Saturday through his Personal Assistant, Aleeyu Darazo.

The House Committee on SMEs had previously met with other top government officials including the Minister of Industry, Trade and Investment, Mrs Doris Anite; the Accountant-General of the Federation, Oluwatoyin Medein; as well as the Director-General and Chief Executive Officer, Small and Medium Enterprises Development Agency of Nigeria, Charles Odii, in this regard.

The statement read in part, “The 10th House of Representatives under the leadership of Tajudden Abbas places a high premium on SMEs development, hence its decision to create a standing committee on SMEs to ensure effective oversight of the SMEs activities and programs of line MDAs.

“The presidential palliative grants and loans which come in three tranches of N50,000 grants to N1 million nano businesses, N100,000 – N1 million and N75 billion to manufacturers, are due for disbursement anytime soon.”

President Bola Tinubu had in July ordered the implementation of palliatives to cushion the effects of the removal of petrol subsidy across the agriculture, transportation, social safety and SME sectors of the economy.

Abiodun approves Christmas bonus for Ogun workers.

Abiodun approves Christmas bonus for Ogun workers.

Ogun State civil servants across all levels will be receiving bumper Christmas bonus packages this year, ranging from 68% to 159% of their basic salaries.

Governor Dapo Abiodun approved the bonuses “to bring some succour amidst the economic challenges facing the country,” according to a statement by his Chief Press Secretary, Lekan Adeniran, on Saturday.

The bonuses start at 159% of basic salary for Level 01 officers, with other levels receiving between 68% and 165%. Specifically, Level 02 officers will get 165%, Level 03 gets 135%, Level 04 gets 122%, and so on down to Level 17 officers receiving 84%.

In monetary terms, Levels 01-08 will receive N20,000, Levels 09 and 10 will get N25,000, Level 12 will receive N35,000, Levels 13 and 14 will get N40,000 each, Level 15 will receive N55,000, and Levels 16 and 17 will each get N100,000.

The Christmas bonuses build on other efforts by the Abiodun administration to support civil servants, including the N10,000 transport allowance being paid to all public sector workers amidst the fuel subsidy removal.

“The initiative builds upon the Abiodun-led administration’s ongoing efforts to support public servants,” the statement noted.

The government has also been working to clear backlogs of pension and gratuity payments.

Abiodun said the special packages are meant to “bring some succour amidst the economic challenges facing the country.”