A chieftain of the All Progressives Congress, APC, in Osun State, Hon. Olatunbosun Oyintiloye has appealed to Nigerians not to give up on the administration of President Bola Tunubu.
Oyintiloye made the appeal while speaking with journalists on Sunday in Osogbo.
While assuring that Tinubu being a true democrat would fulfil all his electoral promises for the prosperity of Nigerians, Oyintiloye added that various economic policies by the president, such as fuel subsidy removal, unification of naira, among others, which may have created a bit of discomfort, would form a strong foundation upon which a prosperous Nigeria would be built.
The former lawmaker said although it was obvious that Nigerians were presently experiencing economic hardship, there was hope for a better and prosperous future.
“There is no doubt that Nigerians are facing hard times, but this is not deliberate, nor a sign of failure on the part of the president.
“For us to enjoy a prosperous Nigeria, we must be ready to sacrifice a little and that is what is currently happening.
“Mr President meant well for Nigerians. He will not gain anything deliberately by inflicting pain on Nigerians.
“All the economic policies put in place by the president that are causing the pains are actually meant to strengthen our economy.
“Don’t give up on the president. He will do better and he will continue to improve on the welfare of Nigerians,” he said.
Hinting that the Tinubu administration inherited a bad economy when he came to power, he said to fix it for the benefit of Nigerians would require patience.
He said the various interventions the president have been putting in place were necessary towards revitalising the country’s economy.
He said the revitalisation would be achieved through priority areas such as quality agricultural practices, a robust marketing system, quality health system, education, improved electricity, and tackling of corruption.
“Government will continue to strengthen our economy by investing in industries and promoting local production, developing the agricultural value chain, which will help reduce our dependence on imports and crude oil,” he said.
Oyintiloye, however, appealed to leaders of the opposition party to guard against utterances and narratives capable of polarising the country.
Economy: Don’t give up on Tinubu govt – APC chieftain, Oyintiloye appeals to Nigerians
Economy: Don’t give up on Tinubu govt – APC chieftain, Oyintiloye appeals to Nigerians
Shettima justifies Tinubu’s tax reforms, says they were initiated to benefit Nigerians
Vice-President Kashim Shettima has justified the tax reforms of the President Bola Ahmed Tinubu’s administration, saying they are meant to benefit Nigerians and not frustrate the economy.
The Vice President, according to a statement issued by his Senior Special Assistant on Media and Communication, Stanley Nkwocha, stated this at the close-out retreat of the presidential fiscal policy and tax reforms committee on Saturday in Abuja.
Represented at the event by the Special Adviser on General Duties in the Office of the Vice President, Shettima said the dynamics of the nation’s fiscal landscape prompted the Tinubu administration to pause and reconsider the direction Nigeria was headed.
He said: “Our aim remains the revitalisation of revenue generation in Nigeria while sustaining an investment-friendly and globally competitive business environment.”
READ ALSO:Shettima off to Dallas to attend 2024 US-Africa Business Summit
He expressed confidence in the tax reforms committee’s ability to execute its mandate, noting the significant shift from planning to implementation.
The Vice President said the federal and state governments are ready to facilitate the effective execution of the committee’s reforms.
He reiterated the government’s commitment to providing the institutional support needed to integrate these proposals with the administration’s broader economic strategy.
By: Babajide Okeowo
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U.S Govt, FCMB enter partnership to strengthen Nigeria’s health sector
At a ceremony held at the First City Monument Bank (FCMB) Headquarters in Lagos, Nigeria, the U.S. Agency for International Development (USAID) Mission Director Melissa Jones affirmed the U.S. government’s commitment to strengthen Nigeria’s health sector and private sector resilience with a new partnership agreement.
Under the terms of the agreement, USAID and the United States International Development Finance Corporation (DFC) will collaborate with FCMB to facilitate $10 million in new loans. The new partnership will assist FCMB to expand access to finance for underserved borrowers, underserved borrowers and MSMEs in the health sector in Nigeria, the health sector, and micro, small and medium-sized enterprises throughout Nigeria.
“I commend the DFC for its commitment to improving local access to quality healthcare. This partnership will help close the gap in healthcare financing. This means more Nigerians will have access to better healthcare facilities. First City Monument Bank welcomes the opportunity to collaborate with healthcare providers and SMEs nationwide to build a healthier, more productive future for our nation,” said FCMB Managing Director, Mrs Yemisi Edun.
“As demonstrated by this partnership, the United States government is eager to continue collaborating with the financial sector to improve access to credit for underserved borrowers, including micro and small and medium enterprises, in the health sector., and thereby stimulate economic growth,” said Mission Director Melissa Jones. “In addition to supporting FCMB’s increased lending in the health sector, we are committed to work with FCMB to disburse loans to the agriculture and renewable energy sectors through our existing partnerships.”
READ ALSO:FCMB Group’s profit rises 192.6% in Q1 2024
This partnership is intended to boost the following key areas:
Loans in the Healthcare Sector: Loans will be used to support businesses in the following areas: hospitals, health centres, clinics, diagnostic centres, pharmacies, maternal health facilities, procurement of medical equipment, construction and renovation of health facilities.
Loans to SMEs: The bank’s focus will include financial support for working capital, equipment procurement, construction, and restructuring of commercial properties for small and medium sized enterprises.
For more information contact the Development Outreach and Communications Team at Abujadoc@usaid.gov
ABOUT USAID: USAID leads international development and humanitarian efforts to save lives, reduce poverty, strengthen democratic governance, and help nations progress beyond assistance. In Nigeria, USAID supports humanitarian assistance, health systems strengthening, transparent and accountable governance, basic education, and a more market-led, trade-friendly economy. For more information about USAID and its programs, please visit www.usaid.gov/nigeria and follow us on Facebook and Twitter @USAIDNigeria.
About DFC: The U.S. International Development Finance Corporation (DFC) is the U.S. Government’s development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DFC invests across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.
About First City Monument Bank: A purpose beyond profit commercial banking institution, First City Monument Bank is a member of FCMB Group Plc, a financial services holding company led by Ladi Balogun as Group Chief Executive. The Bank is committed to fostering inclusive and sustainable growth within its communities, and it aims to build a supportive ecosystem rooted in Africa, connecting people, capital, and markets.
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UTME: Stakeholders divided over abysmal performance of candidates
Mixed reactions have trailed the abysmal performance of candidates in the 2024 Unified Tertiary Matriculation Examination, UTME, as reflected in the recently released result.
The Joint Admissions and Matriculation Board, JAMB, had disclosed that out of over 1.8 million candidates who sat for the UTME nationwide, only 8,401 managed to score 300 and above, while a significant majority of 1,402,490, fell below the 200 benchmark.
This revelation has sparked widespread concern.
Findings by TVN revealed that over 70 percent of those that sat for the exam did not score up to 200.
The examination body said a total of 1,989,668 million candidates registered for the examination in 118 towns and over 700 centers across the country.
A breakdown of the candidates’ performance revealed thus:
1,989,668 candidates registered for the examination. 80,810 candidates were absent for the exercise. 64,624 results were withheld. 8, 401 candidates scored 300 and above. 77,070 candidates scored 250 and above. 439,974 candidates scored 200 and above. And lastly, 1,402,490 candidates scored below 200.
Students, parents, and other stakeholders have taken to various platforms to accuse JAMB of orchestrating the mass failure.
However, some Nigerians are of the opinion that the dismal performance of the students calls for national emergency and immediate national action to save the education sector.
Speaking to TVN, a public affairs analyst, Benedict Onoja, blamed the system for the receding performance of students in external examinations.
He said that students no longer go through Senior Secondary School 3.
According to her, “As soon as they get to SS1, their parents would begin to ask them to sit for the West African Examination Council, WAEC, examination.
“Their parents would be pushing them to jump classes and go to the levels they are not ready for, by virtue of age and maturity to assimilate more than their capacities.
“Such parents are only concerned about having their children in the university at the tender age of 16; they do not want to care about their maturity.
“We see parents do all manner of unethical things to have their children pass examinations. We have lost our values as a people.”
Another public affairs commentator, Mike Divine Akor, said that the decline in academic standards was due to systemic issues within the education sector.
He slammed the federal government’s inconsistent policies and JAMB’s decision to lower admission cut-off marks, stressing the adverse impact on educational was worrisome
“The decline in JAMB performance is primarily due to regulatory weaknesses,” Akor opined, seeking for a holistic overhaul of educational governance and increased investment in teacher quality and curriculum stability.
Also speaking, a political scientist, Anthony Ameh, said the problem with the education sector in Nigeria was multifaceted.
He told TVN, “Many things can be the cause for the failure, but when you look around you will realize that the country is troubled; parents are abandoning their responsibilities because of the harsh economy.
“There is no light for the students to read when they get home, even food is difficult to get. What is the federal government budget for education this year?
“The government is not serious, many schools in the rural areas don’t have common benches for students. Teachers are poorly paid. I don’t think this government is serious about doing anything in that regard,” he said.
He also stated that parents were to blame for the poor performance of students, lamenting the inability of most parents to supervise their children at home.
“Nigerian parents must search their conscience. What are you doing to contribute to the academic success of your children? Do you let them spend hours on TikTok and Instagram or mess around all day?” He asked.
Speaking to TVN, some candidates, however, blamed the poor performance in the UTME on technical glitches.
Some claimed that technical difficulties such as computer malfunction, poor internet connections, and power outages led to their poor outing in the UTME.
While sharing his experience, one of the candidates, who simply gave his name as James said, “My own system went off midway into English Language and the invigilator ignored me and it never came on. But I’m grateful to God, I scored 233.”
Another candidate, Funmi, stated, “My system failed but later came up. I tried my best and I scored 251. I’m not happy because JAMB has dealt with me and quashed my chance of studying my desired course.
“I give thanks to God in all situations. I can go for an alternative course if that’s the wish of God.”
Another candidate, Paul Okpe said, “My system shut down 30 minutes to the end of the examination. I was thrown off balance and the questions I knew the answers to just went away. It took me time to adjust.”
On her part, a candidate who simply gave her name as Joy, lambasted the examination body, stating that some centres lacked the necessary facilities.
Speaking to TVN, JAMB’s Public Relations Officer, Fabiam Benjamin, said that they give everybody equal opportunity.
“He said, our examination is a selection examination. It is not about performance but in any case, if you are looking at it from the comparative basis, this year’s performance is better than last year, 2022 and of course, 2021’s own.
“There was a time in 2013 that the percentage of candidates that scored above 200 was 10%. So, if you look at it on that basis, the performance this year is better than what it used to be,” he said.
Responding to some students who blamed the poor performance on technical glitches, Benjamin said, “Of course I would not not say the whole exercise was rosy without any problems.
“In the entire centres where the examinations were written, there would be one or two problems encountered, but we were able to resolve the issue almost immediately.
“I know that those of them that did not do well in the examination would have one excuse or the other to justify their failure. Only the person who did well would say there were no problems.”
According to him, the Board always evaluates and re-evaluates itself at the end of every exercise to discover possible loopholes that need correction.
“If you look at our processes year in year out, you see that there are improvements because we sit down and do a review.
“At the moment, we are even doing a review and looking at areas of complaints where candidates had issues and to correct them,” he said.
UTME: Stakeholders divided over abysmal performance of candidates
Organised labour to picket DisCos, NERC offices, demands reversal of tariff hike
Following an increase in the tariff of electricity consumer under Band A, the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have directed their members to picket offices of the Nigerian Electricity Regulatory Commission (NERC) on Monday.
NLC also directed its members to picket electricity distribution companies, DisCoS across Nigeria.
The directive followed a meeting of its Central Working Committee (CWC) on April 30.
“We write to inform you of the picketing action scheduled to take place in the offices of the NERC and Electricity Distribution companies (DISCOS) in all states, including the FCT.
“The action will jointly take place on Monday, 13th of May, 2024 nationwide simultaneously. Therefore, the two Labour centres are directed to work together to carry out this important action. While counting on your usual cooperation, kindly accept the assurances of our goodwill and highest regards” a statement signed by NLC Acting Secretary-General, Chris Uyot and his TUC counterpart Anka Hassan said.
READ ALSO:NLC laments non-remittance of over N75bn pensions contributions in Kano
It would be recalled that the organised labour had written a protest letter to NERC and gave the commission a May 12 ultimatum to reverse the hike of electricity tariff or face mass action.
The unions cited the hardship the increase would push the masses into as a reason for the call for reversal.
They stated that the tariff hike not only defies the established procedure mandated by law but also tramples on the rights of Nigerians.
Following the backlash that trailed the hike in tariff, the House of Representatives last week asked NERC to suspend the implementation of the tariff hike.
This has not been complied with at the time of filing this report.
By: Babajide Okeowo
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Nigerian gov to exempt companies earning N25m per annum from CIT, VAT, others
In a bid to help their businesses thrive, and lessen their tax burden, the Federal Government has initiated a plan that would exempt operators earning N25 million a year or less from the various taxes hindering their progress over time.
The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, stated this at the closing session of the committee hearing on Sunday in Abuja.
He noted that the government was working on a system that would provide tax relief to 95 percent for the informal sector.
Oyedele said: ‘’So, we think that 95 percent of the informal sector should be legally exempted from all taxes; withholding tax, company income tax, even payee on their staff.
‘’We’re using data to inform our decisions. Currently, if you earn N25 million a year or less, you don’t have to pay company income tax, you don’t have to worry about VAT.
‘’We think that the informal sector are people who are trying to earn legitimate living, we should allow them to be and support them to grow to a point where they can then have the ability to pay taxes.”
READ ALSO:Oyedele tax reform committee‘s 20 recommendations at a glance
He said the new reforms being proposed would focus on the top five percent of that sector, the middle class, and the elite for taxes.
The tax expert said the committee is drafting the laws to effect the necessary changes in the fiscal policy and tax reform ecosystem of the country.
The new laws, according to him, will ensure that reviews become sustained by all governments coming in, adding that “we don’t want this whole effort to go down the drain, after one or two years”.
On compliance, the committee chairman urged all stakeholders to fully cooperate with the government in implementing a new fiscal and tax policy that would be used for the general good of the citizens.
“We think that the days of being above the law in paying taxes are over. The same thing we’re saying to our leaders, whether they are elected or appointed.
“We think they have to lead by example by showing that they have paid the taxes, not only on time, but correctly to the lawful authorities as contained in the various laws, ” he added.
By: Babajide Okeowo
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Top 10 stories from across Nigerian Newspapers, Monday, May 13, 2024
Here are the top 10 stories making headlines across the country.
1. LP alleges Enugu govt awarded N100b contract to 4-day-old company
The Enugu State chapter of the Labour Party (LP) has alleged that the Enugu State Government awarded a contract worth N100 billion to a 40-year-old company.Read more
2. It’s wrong to impose cybersecurity levy on Nigerians without increase in income – Ndume
Chief Whip of the Senate, Ali Ndume has criticised the proposed cybersecurity levy imposed on Nigerians by the Central Bank of Nigeria (CBN).Read more
3. SERAP, BudgIT, 136 Nigerians head to court to fight ‘imposition of cybersecurity levy on Nigerians’
Socio-Economic Rights and Accountability Project (SERAP), BudgIT and 136 concerned Nigerians have filed a lawsuit against the Central Bank of Nigeria (CBN) over what they describe as “its failure to withdraw the patently unlawful ‘Circular’ directing all banks and other financial institutions to deduct from customers’ account a ‘cybersecurity levy’.”Read more
4. Police declare Lagos socialite wanted for murder, cyber-stalking
The Nigeria Police Force, on Sunday, declared a Lagos socialite and blogger, Dorcas Adeyinka, wanted for alleged cyber-stalking, abduction and murder, among others.Read more
5. Rivers: Lawmakers loyal to Fubara to screen Commissioner-nominee on Monday
Members of the Rivers State House of Assembly loyal to Governor Siminalayi Fubara and led by factional Speaker, Victor Oko-Jumbo, have invited a Commissioner-nominee, Danagogo Iboroma, for screening and confirmation as a member of the state executive.Read more
READ ALSO:Top 10 stories from across Nigerian Newspapers, Sunday, May 12, 2024
6. Kogi govt claims some abducted varsity students have been rescued
Kogi State government says some of the students of Confluence University of Science and Technology, Osara, Okene, who were kidnapped by bandits on Friday have been rescued.Read more
7. ‘I made a big mistake with Fubara, but I will correct it at the right time’ —Wike
Minister of the Capital Territory (FCT) and immediate past Governor of Rivers State, Nyesom Wike, has confessed to making a grave mistake by supporting Governor Siminalayi Fubara to become his successor, with a vow to correct the mistake at the appropriate time.Read more
8. Police in Ogun arrests woman for trafficking 16-year-old to Libya for prostitution
The Ogun State Police Command has arrested a middle-aged woman, Abike Olonade, for allegedly trafficking a 16-year-old secondary school student to Libya for the purpose of prostitution.Read more
9. Yet to be identified truck driver crushes five-year-old girl in Lagos
The Lagos State Police Command, on Sunday, confirmed that a yet to be identified truck driver crushed a five-year-old girl, simply identified as Bosede, to death while crossing the Iganmu-Apapa Expressway with her mother.Read more
10. Arsenal beat Man Utd to keep title race alive
Arsenal returned to the top of the Premier League with a 1-0 victory over Manchester United at Old Trafford on Sunday.Read more
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Yet to be identified truck driver crushes five-year-old girl in Lagos
The Lagos State Police Command, on Sunday, confirmed that a yet to be identified truck driver crushed a five-year-old girl, simply identified as Bosede, to death while crossing the Iganmu-Apapa Expressway with her mother.
The command’s Public Relations Officer, SP Benjamin Hundeyin, confirmed the incident to the newsmen on Sunday.
According to Hundeyin, the information about the accident was received by the Iponri Police Division on Saturday at about 11.30 a.m.
Read also: ‘Only selfless leadership can change Nigeria’s situation’ —Obasanjo
He added that the accident happened at Iganmu under the bridge, inward Apapa, involving a truck driven by yet to be identified driver.
He further stated that the girl and her mother were crossing the expressway when the truck hit and crushed her head, killing her on the spot.
Hundeyin said the police traffic officers from the division visited the scene and removed the corpse for burial by the family.
He, however, said that an investigation is ongoing for the possible arrest of the fleeing driver.
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Electricity tariff hike: NLC to picket DISCOs, NERC offices on Monday
The Nigeria Labour Congress, NLC, has directed its members to picket offices of the Nigerian Electricity Regulatory Commission, NERC, on Monday.
NLC said its members will also picket electricity distribution companies, DISCOs, across Nigeria.
The directive followed a meeting of the Central Working Committee, CWC, on April 30, 2024.
A statement signed by NLC Acting Secretary-General, Chris Uyot, said: “The nationwide picketing is slated for Monday, 13 May, 2024.”
The organised labour had written a protest letter to NERC headquarters in which it gave a 12 May 2024 ultimatum within which NERC should reverse the hike of electricity tariff or face mass action.
The unions cited the hard condition that NERC action is going to push the masses into as a reason for the call for reversal.
They stated that the announced tariff hike not only defies the established procedure mandated by law but also tramples upon the rights of Nigerian citizens.
Electricity tariff hike: NLC to picket DISCOs, NERC offices on Monday
Police declare Lagos socialite wanted for murder, cyber-stalking
The Nigeria Police Force, on Sunday, declared a Lagos socialite and blogger, Dorcas Adeyinka, wanted for alleged cyber-stalking, abduction and murder, among others.
The police urged members of the public to “arrest and hand over the suspect to the nearest police station or the office of the IGP Monitoring Unit, Force Headquarters, Abuja.”
The police further described Adeyinka as a married female Yoruba blogger from Ekiti State and Ibadan, Oyo State capital.
She is said to be approximately 1.64m tall with an oval face, tribal marks, pointed nose, wide mouth, full and white dentition, and light-skinned with black eyes.
The police added that she lives in the United Kingdom, and frequently visits Ikeja, Ogudu and Fagba in Lagos State, as well as Otta and Sango in Ogun State.
It will be recalled that a Chief Magistrate Court in Wuse Zone 6, Abuja, summoned two social media users for defaming Adeyinka by allegedly sharing her nude photo online.
Read also: LP alleges Enugu govt awarded N100b contract to 4-day-old company
In the court summons dated Thursday, May 9, 2024, Chief Magistrate Emmanuel Iyanna ordered the two defendants – Tolulope Adeoye aka Abike Jagaban, and Tolulope Odegbami aka Olowosibi – to appear in persons before the court on June 4, 2024, to answer the charges levelled against them by the complainant.
The summons followed a criminal complaint filed by the complainant’s lawyers led by Pelumi Olajengbesi of an Abuja-based law firm, Law Corridor.
The socialite accused the defendants of sharing her nude photo on social media and ridiculing her.
The application partly read: “On March 5, 2022, Abike Jagaban shared the complainant’s nude pictures on YouTube, directing her followers to different online platforms where the complainant’s pictures were/are shared and ridiculed the complainant in the process.
“The video was captioned, ‘Abike Jagaban on Dorcas Adeyinka, aka TMS Blog.’ These actions have exposed the complainant to contempt, hatred and detestation as some people can be seen making disparaging remarks against the person of the complainant in the comment section of the above-referenced post. Abike Jagaban has also bullied the complainant in another video titled, ‘How Abike Jagaban bullied Dorcas Adeyinka,” among others.”
The complainant further told the court that the alleged actions of the defendants constituted criminal defamation and contravened Section 391 of the Penal Code.
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