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NESG Bemoans Nigeria’s Declining Living Standards

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By Tony Obiechina, Abuja

The Nigerian Economic Summit Group (NESG) has painted a gloomy picture of the Nigerian economy, saying that businesses and citizens have now been put under massive pressure as a result of rising costs, inflation, and a struggling economy.The Chairman of NESG, Mr Niyi Yusuf who stated this at a world Press conference ahead of the 30th Nigeran Economic Summit in Abuja on Friday said “In 2023, increased cost of living pushed an estimated 104 million people into poverty (46% poverty rate) from 100 million”.

The NESG Chairman who was represented by the CEO of the Group, Dr Tayo Aduloju one of Nigeria’s pressing concerns is translating economic growth into improved lives and livelihood of all its citizens.
He disclosed that in Q2-2024 Nigeria’s economy record a fast GDP growth at 3.2%, compared to 2.5% in Q2-2023. Agricultural grew at 1.4% in Q2-2024 from 1.5% in Q2-2023, while industries grew by 3.53% in Q2-2024 from -1.9% in Q2-2023. According to him, the Services sector recorded a growth of 3.8% in Q2-2024 falling down from to 4.4% in Q2-2023.”Nigeria’s weak economic performance is reflected in declining living standards, with per capita income falling from US$2,162.60 in 2022 to US$1,645.76 in 2023. The rising cost of a healthy diet likely worsened the multidimensional poverty rate, which was 62.9% in 2022. Nigeria also ranks low on the Human Capital Development Index (HCDI), with a score of 0.55, placing it 161st out of 191 countries.His words, “Our businesses and citizens are under massive pressure from rising costs, inflation, and a struggling economy. In 2023, increased cost of living pushed an estimated 104 million people into poverty (46% poverty rate) from 100 million in 2022. “These numbers are compounded by food insecurity, as people suffering from acute hunger in Nigeria is projected to increase to 26.5 million in the June-August 2024 lean season, from a staggering18.6 million people at the end of 2023 and over 38% of under-five children suffering from chronic malnutrition.”We are also contending with significant security challenges, exacerbated by the devastating effects of climate change, leading to humanitarian crises that have displaced millions. In 2021, the Internally Displaced Persons (IDP) Index recorded 3.2 million IDPs in Nigeria, with an additional 1 million displaced due to flooding that has destroyed lives, livelihoods, and food security.”These are indeed difficult times for our nation. Global instability, regional volatility, and national socioeconomic uncertainty demand that we take bold, decisive steps”.Niyi Yusuf stressed that the theme for this year’s Summit, “Collaborative Action for Growth, Competitiveness, and Stability,” emphasizes that “we must embrace a business-unusual approach, innovative governance, and transformational political leadership. It is only through collaborative action between government, business, and civil society that we can unlock Nigeria’s vast potential”.The NESG helmsman however noted that “Despite these challenges, the potential of our country is clear. Around the world, the same question is being asked: Can Nigeria reach and exceed its potential? If so, how? And if not now, when? Though we face tough times, there are also incredible opportunities ahead”.He highlighted that the 30th Nigerian Economic Summit offers a platform for exploring these opportunities, adding that “together, we can shape Nigeria’s future toward shared and sustainable prosperity”.However, he predicted that in the next five years, Nigeria has the potential to become a leading industrializing nation in Africa, stressing that “We can reform our political, policy, and regulatory systems, unlock local content development, foster sub-national economic diversification, and create a globally competitive business environment. By doing so, we will improve the lives of millions of Nigerians, reduce poverty, and increase foreign direct investment (FDI) inflows into the continent.

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Ohanaeze Ndigbo President Iwuanyanwu for Burial Nov. 1

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By David Torough, Abuja

The remains of elder statesman and President General of the pan-Igbo group, Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu, have been slated for burial on November 1.

Chairman of the burial committee, Senator Ben Obi, disclosed this at a news conference in Abuja on Thursday.

Alongside with the Secretary General of Ohanaeze Ndigbo, Amb Okey Emuchay and burial sub-committee chairmen, Senator Osita Izunaso, Gen.

Azubuike Ihejirika (retd) and others, Obi unveiled a series of activities culminating into the actual burial ceremony.

“Our message today is to convey the dates for the burial of the President General of Ohanaeze Ndigbo.

“Lagos day of tributes, Wednesday 16th October 2024 at Eko Hotels and Convention Centre.

“Abuja Day of Tributes Friday 18th October, 2024 at the National Ecumenical Centre.

“Enugu Day of tributes, Saturday 26th October with a brief stop at Ohanaeze headquarters, 7 Parkland GRA Enugu while the main event will be held at the Okpara Square.

“Owerri Service of Songs Tuesday 29th October 2024. Commendation Service on 1st November in Owerri and Imo day of burial on Friday, 1st November 2024,” he said.

He added that further details will be communicated in due course.

On whether the Federal Government would participate in the burial, Senator Obi said the committee will visit President Bola Tinubu to intimate him about the transition of the statesman and details of his burial.

“We will be visiting President Tinubu to formally announce to him details of this transition and I am sure the President knows all that Chief Iwuanyanwu had done and he will do the needful,” he said.

Asked whether the late newspaper publisher had regrets about his inability to secure the release of Mazi Nnamdi Kanu and ensure the realization of a restructure federation, the Ohanaeze Ndigbo scribe said Chief Iwuanyanwu died a fulfilled man because he never shies away from doing his best in the circumstance.

“Chief Iwuanyanwu and I visited Kanu in jail and I think that was his last official assignment before his demise.

“Prior to that, he had never missed any opportunity to call for the release of Kanu.

“On restructuring, he never minced his words on equity, fairness and justice and he knew that he couldn’t do it alone.

“So he operated with the South-South PANDEF, Middle Belt Forum and Afenifere. He asked for parity in the number of states in each geopolitical zone.

“We in Ohanaeze will continue to pursue these issues that were very dear to his heart and we want to give the assurances that we will not fail,” Obi said.

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Shettima to Lead Nigeria’s Delegation to UNGA

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President Bola Tinubu will not attend the 79th United Nations General Assembly session in New York this year.The President has thus directed Vice President Kashim Shettima to lead Nigeria’s delegation, Mr Bayo Onanuga, Special Adviser, Information and Strategy, said in a statement on Thursday.“President Tinubu, who returned to the country last Sunday after his trip to China and the UK, wants to focus on domestic issues and address some of the country’s challenges, especially after the recent devastating flooding.

“At UNGA 79, Vice President Shettima will deliver Nigeria’s national statement to the General Assembly, attend important sideline events, and hold bilateral meetings,” said the statement.
The high-level General Debate, with the theme, “Leaving no one behind: Acting together for the advancement of peace, sustainable development and human dignity for present and future generations,”will run from Sept. 24, to Sept. 28. (NAN)

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NECO Releases 2024 SSCE Results

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The National Examinations Council, (NECO) has released the June/July 2024 Senior School Certificate Examination results (SSCE), with 60.55 per cent of candidates securing five credits and above in English Language and Mathematics.

The Registrar of NECO, Prof. Dantani Wushishi, disclosed this while addressing newsmen at the NECO headquarters on Thursday in Minna, Niger.

Wushishi said that a total of 1,376,423 candidates, representing 706,950 males and 669,473 females, registered for the exam.

The registrar said that 1,367,736 candidates sat for the examination,   representing 702,112 Males and 665,624 females.

He said that 828, 284 candidates had five credits and above, including English and Mathematics, representing 60.

55 per cent.

Wushishi said that the number of candidates with five credits and above, irrespective of English and Mathematics, were 1,147,597, representing 83.90 per cent.

He said that there was a great reduction in the number of examination malpractices this year compared to 2023.

“The number of candidates involved in various forms of malpractice in 2024 is 8,437 as against 12,030 in 2023, which shows a reduction of 30. 1 per cent,” he said.

The registrar, however, said that 40 schools were found to be involved in mass cheating during the examination.

” During the conduct of the 2024 Senior School Certificate Examination (SSCE), 40 schools were found to have been involved in whole school (mass) cheating in 17 states.

” They will be invited to the Council for discussion, after which appropriate sanctions will be applied.

“A school in Ekiti was recommended for de-recognition for mass cheating in two core subjects and 01 Science subject.

” Similarly, 21 Supervisors were recommended for blacklisting due to poor supervision, aiding and abetting, abscondment, extortion, drunkenness and negligence in 12 states,”said.

He urged candidates that sat for the examination to visit NECO website to access their results.

Wushishi said candidates can access their results on NECO website: www.neco.gov.ng using their examination registration number,” he said.(NAN)

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