Economy
World Bank Grants FG $350m to Address Open Defecation
Minister of the Federal Capital Territory Administration (FCTA), Mohammed Bello and his counterpart in Water Resources, Suleiman Adamau have entered into a partnership to rid Abuja of about 39.4% residents who practice open defecation.
This is even as the World Bank has extended assitance of $350m the Federal Government to address OD in 6 states.
The agreement was reached when the Minister of Water Resources, Engr Sulaiman Adamu, brought the campaign of ‘Clean Nigeria: Use The Toilet’, to the office of Minister of FCT, Malam Muhammad Bello, and Minister of State for FCT, Dr. Ramatu Tijjani.
Bello said that the administration was ready to work with the Ministry, adding the Minister of State would be coordinating and work out the administration’s work plan. According to Bello, “Basic water supply is there and we are working to ensure that phases 3 and 4 of the Abuja are covered, we already concluded with China Exim bank that is going to finance that . We have tried as much as possible, in terms of sanitation in FCT, we have tried to see how we can key into your programme after the meeting we had with you.
“We have identified the areas within Abuja where we need to put in public toilets. And these toilets will be powered by solar. We already have prototype of the toilets. Our agencies would partner with you and you will review the the programme”.FCT Minister therefore assured the Water Resources Minister that his administration would key into all their programmes especially on the key programme you mentioned. “My colleague, the Minister of State would coordinate all the programme and work out the work plan”, he said.
Earlier in his address the Minister of Water Resources, revealed that the World Bank has concluded arrangement to grant a ĺoan of $350 million in order to address its WASH challenges in six states of Nigeria.
He lamented the fact that 47 million Nigerians practice open defecation, 57 million lack safe water while 130 million use unimproved sanitation . 1 in every 4 Nigerians defecate openly, 1 in 2 persons in the North central defecates in the open, which includes FCT.Adamu decried the fact that access to basic water supply stands at 67.9%.
The campaign that is aimed at ending open defecation in Nigeria, said 43.5% have basic sanitation services, 76.8 in FCT has access to basic water supply, 24.5% in Abuja have hand washing services.
He therefore urged FCTA to declare state of emergency with clear communication of State plans, participate in the national Water Sanitation and Hygiene, WASH, fund, encourage private sector participation in the sector, and development of road maps for for elimination of OD. It would be recalled that United Nations Children’s Fund, UNICEF, recently said Nigeria loses about N455 billion annually on Gross Domestic Product, GDP, and as a result of poor sanitation which escalates to deaths, stunting, malnutrition, loss of dignity, insecurity, low productivity.UNICEF also revealed that Nigeria needs estimated total N959 billion, in 10 years to address it’s challenge of Open Defecation and other sanitation issues in 10 years. Nigeria Households need N 725 billion while the three tiers of governments need N 234 billion.
He lamented the fact that 47 million Nigerians practice open defecation, 57 million lack safe water while 130 million use unimproved sanitation . 1 in every 4 Nigerians defecate openly, 1 in 2 persons in the North central defecates in the open, which includes FCT.Adamu decried the fact that access to basic water supply stands at 67.9%.
The on-going campaign is aimed at ending open defecation in Nigeria, since only 43.5% of the people have access to basic sanitation services in FCT; 76.8%; have access to basic water supply, while 24.5% in FCT had access to hand washing services.
He, therefore, urged FCTA to declare state of emergency with clear communication of State plans, participate in the national Water Sanitation and Hygiene, WASH, fund, encourage private sector participation in the sector, and development of road maps for elimination of OD.
It would be recalled that United Nations Children’s Fund, (UNICEF), recently said Nigeria loses about N455 billion annually on Gross Domestic Product(GDP), as a result of poor sanitation which escalates to deaths, stunting, malnutrition, loss of dignity, insecurity, low and productivity.
UNICEF also revealed that Nigeria needs estimated total N959 billion in 10 years to address it’s challenge of Open Defecation and other sanitation issues. Nigeria Households need N 725 billion while the three tiers of governments need N 234 billion.
Economy
Investors Gain N183bn on NGX
The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.
Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.
The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.
68, against 98,206. 97 recorded on Tuesday.Consequently, the Year-To-Date (YTD) return increased to 31.
74 per cent.Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.
Market breadth closed positive with 34 gainers and 17 losers.
On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.
Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.
On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.
Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.
Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.
A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.
Meanwhile, ETranzact led the activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)
Economy
Yuan Weakens to 7.1870 Against Dollar
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)Economy
Bring Kaduna Refinery Back into Operation, Youth Group Urges NNPCL
Arewa Youths Initiative for Energy Reforms (AYIFER), has urged Nigeria National Petroleum Corporation Limited (NNPCL) to do everything possible to bring Kaduna Refinery back into operation.
National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.
Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.
He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.
“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.
“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.
“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.
Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.
According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.
He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)