NEWS
FG, EU Sign N728bn MoU to Improve Energy, Transport in Nigeria
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By Tony Obiechina, Abuja
The Federal Government and the European Union (EU), Thursday, signed a Memorandum of Understanding (MoU) to improve education, energy and Transportation programmes in Nigeria.
The MoU was signed at the EU-Nigeria Strategic Meeting held at the banquet hall of the Presidential Villa, Abuja which also involved the granting of loans to two Nigerian private companies and banks by the European Investment Bank, as part of the Global Gateway strategy.
This includes a “2X Challenge” €50 million credit facility with Access Bank for loans to female entrepreneurs and managers in Nigeria, expected to create jobs and growth in line with the green economy priorities.
The second €14 million loan is for Emzor Active Pharmaceutical Ingredients to finance the construction of a manufacturing plant for the production of anti-malarial drugs.Nigeria’s Minister of Budget and Economic Planning, Senator Atiku Abubakar Bagudu penned the MoU for the country while EU Commissioner for International Partnerships, Jutta Urpilainem, signed for the Union.
Chief Executive Officers of the private firms involved signed the agreement for their respective companies while the EU Commissioner penned for the EU.
This major package forms a central part of the EU-Nigeria cooperation to advance the country’s green, resilient, digital inclusive transition under Government priorities and Global Gateway, the EU’s positive offer to deliver sustainable and trusted connections with partner countries.
Speaking at the event which was witnessed by the Permanent Secretary, Nebolisa Anako, and other high level government officials, the Minister said: “Today marks yet another milestone in the annals of the EU-Nigeria development cooperation. The EU -Nigeria relations is one of the most vibrant development partnerships in terms of volume, thematic interventions, modalities and geographical spread in deployment of resources.
“The EU-Nigeria Strategic Dialogue is happening at the take-off of the current Administration in Nigeria and presents opportunities for proper articulation and consolidation of priorities in our Partnership.
“This meeting is a demonstration of our shared commitments for achievement of the mutual objectives of our partnership and multilateralism in these challenging times.
“Our partnership has come a long way on many fronts, namely: collaboration on energy security, regional peace and security, migration management, trade and regional integration, environmental stability and climate change, humanitarian emergencies and crisis management to mention a few.
“The EU – Nigeria Development Cooperation is one of the most vibrant development partnerships in terms of the volume, thematic interventions, modalities and geographical spread in deployment of cooperation resources.
“Indeed, a recent survey shows that over 5,200 communities benefited from various water, sanitation, energy, education, health and other micro project interventions over the course of the Cotonou Partnership Agreement between the EU and the Africa, Caribbean and Pacific (ACP States from the year 2000 – 2020.
“Within the Framework of the Nigerian National Development Plan (NDP) 2021 – 2025 and the Renewed Hope Agenda of President Bola Ahmed Tinubu, the single most important commitment that will propel Nigeria to lasting security, sustainable stability and shared prosperity is focused investments that will harness the potentials of our citizenry for productivity, economic growth and development.
“Being our closest continental neighbor with advanced political systems, economic prosperity and social cohesion, it is in our mutual interest for Europe to support our efforts in harnessing demographic dividends.”
In her opening remarks, Commissioner Urpilainen said: “I am delighted to be visiting Nigeria to further strengthen our partnership, and I look forward to launching a package of new actions, as part of the Global Gateway strategy and EU support to Government priorities.
“Building on our long-standing cooperation, and in the best spirit of shared responsibility, commitment and accountability, the EU will continue to invest in our common future and priorities of security, democracy and prosperity for all – not least through the package of loans and grants I am signing and launching here today that will benefit the Nigerian businesses, farmers, youth and the society a as whole.”
She said, “I am very happy to announce today two financial agreements in crucial sectors for Nigeria and the region: health and entrepreneurship. The partnership with EMZOR pharmaceutical Industries is a significant step towards accelerating treatments against malaria and healthcare access across the region while reducing the dependence on the importation of essential medicines.
“We are proud to accompany the development of a pioneer firm committed to strengthening the antimalarial supply chain and production.
“Supporting entrepreneurship is also at the heart of our action in Africa. With a new credit facility with Access Bank, our objective is to improve access to finance for female entrepreneurs and to stimulate job creation while supporting sustainable business practices aligned with green economy priorities”.
In his remarks, Ambroise Fayolle, EIB Vice-President said the package developed jointly between the EU and Nigeria, will drive new programmes through Global Gateway.
It includes: climate smart agriculture (€29 million), Sustainable energy (€37 million)
Access to health services (€45 million); Education: support to youth and education development in the North West region (€5.4 million) which will contribute to policy improvement of the teaching profession and the capacity building of teachers.
In addition to these areas of support, the package will also contribute to building access in the Nigerian social protection safety net (€46 million), support to border management and reintegration of returnees (€28.4 million), support to the Disarmament, Demobilisation and Reintegration of Boko Haram combatants in the North East region (€20 million) and, last but not least, support to improving the criminal justice system, access to justice and the fight against corruption (€30 million).
NEWS
Ajuri, Tinubu’s Spokesperson Takes Exit, Cites Mesical Reaaona
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Special Adviser on Media and Publicity to the President Chief Ajuri Ngelale has quit his job. He said in a statement in a Abuja that he would proceed on an ” indefinite leave, to deal with ” medical matters” affecting him amd hia immediate family.Hos statement reads: “On Friday, I submittd a memo to the Chief of Staff to the President informing my office that I am proceeding on an indefinite leave of absence to frontally deal with medical matters presently affecting my immediate, nuclear family.
While I fully appreciate that the ship of state waits for no man, this agonizing decision — entailing a pause of my functions as the Special Adviser to the President on Media & Publicity and Official Spokesperson of the President; Special Presidential Envoy on Climate Action, and Chairman, Presidential Steering Committee on Project Evergreen — was taken after significant consultations with my family over the past several days as a vexatious medical situation has worsened at home.I look forward to returning to full-time national service when time, healing, and fate permit.I respectfully ask for some privacy for my family and family”NEWS
Fuel Crisis: 1000 CSOs Fault Tinubu’s Economic Team, Want Immediate Reconstitution
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By David Torough, Abuja
About 1000 Civil Society Organizations (CSOs), under the auspices of Coalition Of Civil Society Organisations (CCSOs), on Saturday Faults President Bola Tinubu’s Economic Team and called for immediate reconstitution.Expressing deep concerns over the state of the economy and escalating fuel prices compounding the hardship of Nigerians despite the recent protest, the groups said Tinubu must act now to avert disintegration.
The groups said the current situation across the country has cast doubt on the competence of the Tinubu economic team and called for urgent review. The CCSOs in a statement by its National Coordinator, Mallam Ibrahim Mohammed, pointed out that the plight of Nigerians is sinking low and their patience is wearing off following the deteriorating economy.The statement reads in part, “The Coalition of Civil Society Organisations (CSOs) is deeply concerned about the deteriorating state of the Nigerian economy, which is becoming increasingly unbearable for millions of citizens.“It is evident that the recent hike in fuel prices and the unstable exchange rate are the direct results of economic mismanagement by those responsible for overseeing our nation’s financial policies. The ripple effects of these failures are being felt in every household across the country, worsening poverty and crippling economic activity.“The floating of the Naira, which was initially sold to Nigerians as a means of stabilizing our currency, has done little to prevent the continued devaluation of the Naira. In fact, the exchange rate disparity has widened significantly, with the Naira losing value daily, impacting the cost of living, basic commodities, and inflation.“While this policy was expected to ease foreign exchange pressure, it has instead deepened economic challenges due to poor implementation and lack of strategic foresight.”The coalition also expressed concern over what it described as a death trap of indebtedness of the Nigerian National Petroleum Company Limited (NNPCL), which also they claimed had slowed down importation of Premium Motor Spirit, PMS, hence the current shortage of PMS across the country. “Of equal concern is the precarious position of the Nigerian National Petroleum Company Limited (NNPCL), which finds itself in a debt trap, with global suppliers of petroleum products losing confidence in Nigeria’s ability to honour its obligations.“Reports have shown that NNPCL has accrued debts totalling over $6 billion, causing petrol supply shortages. International suppliers are now reluctant to continue providing fuel on credit, exacerbating supply chain issues and pushing up the price of petrol at the pump”, they claimed.The CSOs also asserted that, “We hold the managers of the Nigerian economy responsible for these disturbing developments. Their inability to provide sound policies and long-term solutions has left the nation in this predicament.“It is clear that there is no cohesive strategy to address the rising debt, the growing imbalance in the foreign exchange market, or the country’s heavy reliance on importation for petrol supply. The recent hike in fuel prices reflects the collapse of responsible economic management and accountability.“Nigerians are left to bear the brunt of these failures. Businesses are shutting down, transportation costs have skyrocketed, and citizens are spending an increasingly larger percentage of their income on basic necessities. This state of affairs is unacceptable.”The group therefore placed some demands; Immediate intervention from the government: There needs to be a comprehensive and transparent plan to stabilize the Naira, restore confidence in the petroleum supply chain, and negotiate a restructuring of NNPC’s debts to ensure continuous fuel supply.“Accountability for economic mismanagement: Those responsible for the reckless management of our foreign exchange policies and NNPC’s debts must be held accountable. The government must also disclose its plan to mitigate the rising fuel costs and economic burden on Nigerians.“A return to sound financial policy: The floating of the Naira has proven ineffective under current conditions. We call for a re-evaluation of monetary and fiscal policies to stabilize the economy, reduce inflation, and attract foreign investment.“In conclusion, the Coalition of Civil Society Organisations reiterates that without immediate corrective measures, the economic situation will continue to deteriorate, leading to further hardship for the average Nigerian. The government must act decisively and responsibly to reverse this downward spiral”, they added.NEWS
Tension in Makurdi Community as NAF Personnel Demolishes Houses, Destroys Rice Farm
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There is growing tension in Ugondu community, Makurdi LGA, Benue state by young people opposed to the demolition of houses and destruction of rice farms in the area allegedly on the directives of senior Air Force officer, Air Commodore Akinbuwa Ayodele.
It was learnt that Commodore Ayodele, who is facing multiple legal actions following dispute over a plot of land located on George Akume Way Makurdi and owned in blatant disregard to the judicial process embarked on destruction of structures on the plot.
Eyewitness said when the equipment arrived no one imagined it was for destruction.
But in a militray- like operation, two flats of two units each, completely roofed, electrified and plumbing work completed were among the structures demolished as the bulldozers rolled over rice farms in the vicinity as well.
It was learnt that last year, a Makurdi High Court presided by Justice Mary Ijohor, granted an order of perpetual injunction, in the same matter, upon application by the supposed owner of the plot and awarded the sum of One Million Naira (N1,000,000.00) only, as cost. The matter, enforcement of fundamental rights, was marked as MHC/582/M/2023.
Godwin Akor whose rice farm was destroyed in a chat with newsmen said that he was shocked at the development. He however said he won’t speak more on the matter as it is still before the court.