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Nigerian States Receives New Bail-Out Fund Of N656.1 Billion

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Mrs. Zainab Ahmend, Minister of Finance, Budget, and National Planning says the N656.1 billion new bail-out fund to state governments is to ensure that the economic recovery of the country is consolidated.

The minister while speaking at the 2021 conference of the National Council on Finance and Economic Development (NACOFED) with the theme “Public Sector Finance Management in the New Normal (Post COVID -19)” said the government is working to ensure that the county does not return into a recession.

She said with the repayments of the three bail-out facilities to states expected to commence, noting that the modalities of the facility had been worked out and the disbursement is expected to commence soon.

“The N656.1 billion which will be paid out over a period of six months will help cushion the effects of the repayment on state government finances.

“The federal government had also cut-down the interest rate on intervention facilities from nine per cent to five per cent per annum.

“The federal government had also concluded arrangements with the World Bank to further make available another sum of $750 as Additional financing for States under the States Fiscal Transparency, Accountability and Sustainability (SFTAS) programme,” she said.

The minister said government is taking further proactive measures to develop policies aimed at improving the various sectors of our economy, adding that, the effort government created 6 years ago, has been instrumental in closing out the revenue gap created by the pandemic.

Ahmed stated that while the last couple of years presented series of challenges to the entire nation and the globe at large, “the good news is that our recovery rate from the pandemic has been sustainably good and encouraging. Things are now looking up for us and our economy is bouncing back to normal.

Also speaking, Lagos state governor, Babajide Sanwo-Olu stressed the need for all stakeholders including the state governments to join hands with the federal government in rebuilding the country.  “We need to roll up our sleeves and do the needful.

“We need to think outside the box, indulge on job and wealth creation by walking the rope, compelling both those in the private and public sector to focus more on exploring ways to do more with less or little.

“Optimize spending by cutting down wastages and excesses, be creative, create avenues for revenue creation, expand innovations, avoid unnecessary spending and create transparent ways and tendencies that will yield maximum value for every spending,” he said.

Earlier in his welcome address, the Permanent Secretary Federal Ministry of Finance, Mr. Aliyu Ahmed stated that various recommendations of NACOFED conferences in the past served as inputs for preparation of annual budgets as well as for policy formulation towards economic growth and development at both the federal and sub-national levels.

“This forum will discuss topical issues of national interest and proffer suggestions towards charting the best way forward for the country.

“The resource persons lined up for the paper presentation and discussion, justice will be done to the theme of the conference and participants will use the opportunity to learn new strategies, approaches, and ideas that will help them to better manage the resources for delivery of good governance to our citizens at all level, “Ahmed said.

 

 

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Nigeria: chibok abduction anniversary spurs demands for justice

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Militants, alongside relatives of victims of the infamous abduction of the Chibok schoolgirls that sparked global outrage in 2014, gathered in Lagos on Sunday, April 14, to renew calls for the release of the remaining girls in captivity.

The Sunday meeting was organized to mark the 10th anniversary of the abduction that affected 276 schoolgirls from the Government Girls Secondary School in Chibok, Borno State, northeastern Nigeria.

“What I would ask the government is to find a way to work towards bringing back our sisters because I know it is only the government that can help us bring back these girls,” said Grace Dauda, a rescued Chibok schoolgirl.

Another rescued schoolgirl, Rebecca Malu, added, “They should stay safe. They should stay strong, one day, they will be released like us.”

While some girls managed to escape on their own, others have been freed over the years through intense campaigns by civil society organizations and government negotiations. But this human rights activist, Ayo Obe, is calling for more action from the authorities.

“We know that we started with missing persons numbering two hundred and fifty-six; it is already an improvement that we are down to 91. But of course, 91 is 91 lives unaccounted for. We appreciate the fact that so many of them escaped during the abduction itself. We appreciate the fact that the government has brought back so many more of them, but we say that we don’t stop here. We need the momentum that has happened since the mass return during the Buhari administration in 2016-2017 to be maintained. We expected that the remaining girls would have been brought back,” she said.

Mass school children kidnapping in Nigeria has continued nearly unabated since Chibok. Around 1,700 students have been kidnapped in raids since 2014 according to Amnesty International.

A member of the Bring Back Our Girls movement and convener of the 10th-year anniversary in Lagos, Opeyemi Adamolekun, lamented this as unfortunate.

“Unfortunately, it became political between 2014 and 2015, part of the amplification of the movement was part of the 2015 presidential campaign. And we saw the effect of the first batch of 21 that were released with the help of the Red Cross and the Swiss government. The second batch of 82 that were released with the help of the Red Cross and the Swiss government as well. But unfortunately, it seems that energy sort of dissipated because the government doesn’t feel as much pressure as they used to feel,” she said.

For this group of Nigerians, the government must match words with more action to stem the tide of mass school kidnappings in the country.

According to the Murtala Muhammed Foundation, a charity that advocates for the Chibok schoolgirls, about 90 girls still remain in captivity while dozens of the schoolgirls freed over the years are living inside a military-run rehabilitation camp with surrendered Boko Haram fighters they married in the Sambisa forest, Boko Haram’s main hideout.

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Nigeria suspends permit of 3 private jet operators

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Nigeria’s Civil Aviation Authority (NCAA) has taken action against private jet operators flouting regulations by suspending the Permit for Non-Commercial Flights (PNCF) of three operators caught conducting commercial flights.

This crackdown follows warnings issued in March 2024.

Acting Director General Capt. Chris Najomo stated that increased surveillance at Nigerian airports led to the grounding of three operators found violating their PNCF terms. Specifically, they breached annexure provisions and Part 9114 of the Nigeria Civil Aviation Regulations 2023.

In response, the NCAA announced a thorough re-evaluation of all PNCF holders to ensure compliance with regulations, to be completed by April 19th, 2024. PNCF holders have been instructed to submit necessary documents within 72 hours to expedite the process. Najomo emphasized these actions highlight the NCAA’s commitment to enhancing safety in Nigerian airspace.

Furthermore, the NCAA warned the public against using charter operators without a valid Air Operators Certificate and urged legitimate industry players to report any suspicious activities promptly.

This crackdown comes after the NCAA’s stern warning in March against PNCF holders engaging in commercial operations.

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Senator Cory Booker Leads a Congressional Delegation to Nigeria

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Photo: Senator Cory Booker (In the back) and a Diplomat from the US Department of State, joins with members of the Academy for Women Alumnae Association including Mercy Ogori of Kokomi Africa and Adebisi Odeleye of Moore Organics.

Senator Cory also met women entrepreneurs from the Academy for Women Alumnae Association

Last week, US Senator Cory Booker from New Jersey led a congressional delegation to Nigeria, which included House of Representatives members Sara Jacobs and Barbara Lee from California. The purpose of the visit was to discuss a partnership on sustainable development. During the talks, Nigerian President Bola Tinubu expressed his administration’s dedication to strengthening democracy through upholding the rule of law and ensuring good governance, justice, and fairness for all citizens. Senator Booker emphasized the shared values of democracy, the rule of law, and commitment to peace and good governance that bind Nigeria and the United States as partners.

The delegation also met with women entrepreneurs from the Academy for Women Alumnae Association, who had participated in US-sponsored exchange programs. Led by Adebisi Odeleye of Moore Organics, the businesswomen shared their experiences and discussed their entrepreneurial endeavors. Other Academy members were Mandela Washington Fellow, Nkem Okocha of Mama Moni, Inemesit Dike of LegalX, and Mercy Ogori of Kokomi.

The partnership between the United States and Nigeria has lasted over six decades, focusing on addressing security challenges, enhancing health security, and responding to global health crises. Despite obstacles like corruption, poverty, and insecurity, the US remains dedicated to supporting Nigerian institutions and promoting free, fair, transparent, and peaceful elections.

During the visit to the State House, Senator Booker reiterated the shared values of democracy, the rule of law, and commitment to peace and good governance that unite Nigeria and the United States as partners.

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