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Electricity tariff hike `ll stifle businesses—Abuja chamber of commerce

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Electricity tariff hike `ll stifle businesses—Abuja chamber of commerce

The Abuja Chamber of Commerce and Industry (ACCI), has expressed concern over the recent increase in electricity tariffs, saying it could negatively impact on the ease of doing business in Nigeria.

The President of ACCI, Mr Emeka Obegolu, told the News Agency of Nigeria (NAN) in Abuja on Saturday that the hike would significantly impact businesses across various sectors of the economy.

Obegolu acknowledged the various challenges already faced by entrepreneurs and investors in the country.

He expressed worry that the Small and Medium Enterprises (SMEs), which are crucial to the country’s economy, would be greatly affected by the hike in tariff.

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“The ease of doing business is a critical factor for fostering economic growth, attracting investments, and creating job opportunities.

“Regrettably, the increase in electricity tariffs can hinder these efforts by imposing additional financial burdens on businesses, especially SMEs, which are the backbone of our economy”, he said.

Highlighting the importance of electricity in businesses, Obegolu said that any disruptions or cost increases associated with electricity supply could lead to higher operational expenses.

The president said it would hinder businesses’ ability to invest in innovation and expansion and impede their competitiveness in both domestic and international markets.

He also expressed concern that the tariff hike, combined with other economic challenges such as the removal of fuel subsidy and foreign exchange unification, could further compound difficulties faced by businesses.

Obegolu urged the relevant authorities to reconsider the tariff increase and explore alternative solutions that prioritise the needs of businesses.

“Many enterprises are already struggling with reduced demand, supply chain disruptions, and financial constraints. The burden of higher electricity tariffs exacerbates their challenges and threatens their long-term viability.

“As advocates for the business community, we urge relevant authorities to reconsider this decision and explore alternative solutions that prioritise the needs of businesses and support ease of doing business.

“It is vital to strike a balance between ensuring a sustainable energy sector and mitigating the adverse effects of tariff hikes on businesses, particularly during these trying times,” he told NAN.

Obegolu called for constructive dialogue with stakeholders, including business associations like ACCI, to find collaborative solutions that addressed concerns from both energy providers and businesses.

“Through fostering open communication, promoting transparency, and adopting policies that facilitate business growth and competitiveness, we can create an environment conducive to sustainable economic development and prosperity for all.

“As a leading business support organisation in the FCT, ACCI stands ready to collaborate with stakeholders to address challenges posed by the tariff,” Obegolu said.(NAN)

By Lucy Ogalue

Community leader calls for military base, as death toll rises to 25 Site

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Community leader calls for military base, as death toll rises to 25 Site

By Thompson Yamput

Lokoja, April 5, 2024 (NAN) Chief Elias Atabor, the Leader of  Agojeju-Odo community in Kogi, has urged the Federal Government to establish a military base in Omala Local Government Area to checkmate bandits’ incessant attacks on the people.

Atabor made the plea in an interview with the News Agency of Nigeria (NAN) in Lokoja on Friday.

“We are so worried that the death toll keeps rising by the hour.” he said.

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The community leader made the call when it was discovered that the death toll of Thursday’s attack on the Kogi community attack rose from 19 to 25.

The figure included four children, while several persons were being hospitalised.

But retired Commodore Jerry Omodara, Special Adviser on Security to Gov. Usman Ododo, said the death toll had risen to 21, with more being discovered by the hour.

Atabor said: “We are pleading with the Federal Government to bring to our community a military base that will help us to checkmate the incessant attacks in our communities in Omala LGA.

“Thursday’s attack is the second in less than three months this year alone. The first was on Jan. 29 when four persons where killed by bandits

“We cannot continue dying like fowls in our own community. Agojeju-Odo is our ancestral home and we have no other place to go beside it

“Many of our people are still missing and we are still discovering more corpses. It’s painful and worrying.

“Government should come to our aide and save us before those bandits, who are sophisticatedly armed to wipe us out from this Earth.”

The leader said that the communities, Agojeju-Odo, Ajokpachi-Odo and Bagaji had become ghost towns with no economic activity going on due to the attacks.

According to him, their children can not have the desired education because virtually all the schohttps://newsdiaryonline.com/updated-federal-high-court-cj-releases-new-posting-for-judges/ols in those communities are closed down.

He expressed gratitude to Gov Usman Ododo and the security operatives for their immediate response by deploying personnel to the troubled communities..

Also, a community stakeholder, Mr  Ademu Ibrahim, urged President Bola Tinubu and Gov. Ododo to assist the communities’ members with some relief materials, having lost their farm produce to the bandits.

He described the attacks as “wicked and unacceptable”, considering the way and manners the bandits were killing the people.

Ibrahim said there had been a running battle between militia groups in parts of Benue and some bandits, which led to the onslaught on the quiet towns of Agojeju-Odo, Ajokpachi-Odo, Bagaji and environs.

According to him, the bandits have destroyed farm produce with ease in an attempt to draw the communities into the conflict.

NAN reports that 19 persons were killed and several others injured during the Thursday’s broad day light bandits attack on Agojeju-Odo community in Omala Local Government Area of Kogi. (NAN)

Nigerian military can end security challenge -Kwankwaso

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Nigerian military can end security challenge -Kwankwaso

Sen. Musa Kwankwaso, a former Minister of Defence, says the military has capacity to end the current security challenge facing the country, given the necessary motivation.

Kwankwaso, also the National Leader of New Nigeria People’s Party (NNPP) stated this when he spoke with newsmen shortly after the NNPP National Executive Committee meeting in Abuja.

He said that although it was the responsibility of the Federal Government to address the security challenge, Nigerians also had crucial role to play by supplying vital information to security agencies.

“As former Minister of Defence, a former Chief Security Officer of Kano State for eight years, somebody who has gone around and well exposed in this game of politics, I believe that tackling security challenge is now is on the shoulders of the federal government.
“We have seen states forming some security outfits. Sometimes you laugh. The level at which it is today, is at the level of Nigerian military and anything short of that wouldn’t work.
“And everybody must work together to make sure there is peace in this country.
“Some of us who are from the villages and even towns, we can remember how our people were going to farms. Now people cannot go to the farm. They also being chased from their villages and towns..
“Our children are daily abused and taken away by criminals and bandits in hundreds, “ he said.

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Kwankwaso, also the NNPP 2023 presidential candidate, said that his party had the formula to address the problem and other challenges facing the country, if given the opportunity by Nigerians.

He said the NNPP was the only hope for Nigerians, saying that the All Progressives Congress (APC) and the Peoples Democratic Party (PDP) had failed the people.
Speaking, Gov. Abba Yusuf of Kano State, urged party members to be total in their dedication to the party, saying there was nothing like 99 per cent loyalty to the party, but 100 per cent.(NAN).

By Emmanuel Oloniruha

Tinubu appeals for peace in Africa, troubled global spots 

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Tinubu appeals for peace in Africa, troubled global spots 

President Bola Tinubu on Friday made a strong appeal for global peace and stability, particularly in Africa and trouble spots around the world. 

Addressing members of the Diplomatic Corps and Heads of International Organizations during Iftar at the State House, President Tinubu urged the ambassadors to convey the message of peace and stability to their respective countries.   

“It is an honour for me to speak to you collectively and share with you the diverse culture that Nigeria embodies. Sharing this moment with you is a privilege for us,” the Nigerian leader said.

Reflecting on the essence of Ramadan, President Tinubu emphasized the values of tolerance and perseverance, noting their importance in fostering peace and stability worldwide.

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“Ramadan is a period of self-denial, sharing, tolerance, and perseverance. It is a time for us to bring peace and stability to the world. I appreciate your coming and sharing of peace with us,” the President said. 

President Tinubu appealed to members of the Diplomatic Corps to extend their care and support to the needy and the vulnerable, noting the collective responsibility to promote peace and stability globally.

“Let us in our hearts care for the needy and those who have nothing. Together, we can promote peace and stability in the world. It is what you need to convey to your various countries, that stability and peace are attainable. We should all come together to promote peace in the world. 

“There will be no economic stability without peace in the world,” the President stated. 

Ambassador Salaheddine Abbas Ibrahim, High Commissioner of Cameroon and Dean of the Diplomatic Corps, expressed gratitude for the generous invitation to share Iftar with President Tinubu. 

He prayed the blessings of the last days of Ramadan upon Nigeria and wished President Tinubu fruitful stewardship for peace and prosperity in the country. 

Commending the President for bringing renewed hope to Nigerians, High Commissioner Ibrahim assured him that Nigeria can rely on the international community as a veritable partner. 

Earlier at the State House mosque, President Tinubu joined other Muslim faithful to participate in the closing of the Ramadan Tafsir.

He urged the Muslim faithful to uphold the lessons of the Holy month beyond the fasting season by living in peace and harmony with one another.  

“I want to thank God Almighty that we started this Ramadan with the opening knowledge of Tafsir. I thank the Imams for their dedication, love, and commitment to the faith. My appeal is for them to continue to preach the sermon of goodwill,’’ President Tinubu concluded. 

 
By Chimezie Godfrey

Abuja metroline to be inaugurated by May

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Abuja metroline to be inaugurated by May

Minister of the Federal Capital Territory, Barrister Ezenwo Nyesom Wike has assured that the Abuja Rail Mass Transit Scheme also known as the metro line will be inaugurated in May this year. 

The FCT Minister gave the assurance in Abuja on Friday, when he carried out an inspection tour of the ongoing renovation and rehabilitation works on the Abuja metro line.

Barrister Wike said the rehabilitation exercise was about 97 percent complete and assured that it will be among the projects to be commissioned by President Bola Ahmed Tinubu, in May this year, to mark his one year in office.

The FCT Minister who rode on the train from the Abuja Metro station in the Central Business District to the Airport Train Station, where he observed the progress of work at the various train stations along the route, expressed satisfaction with the renovation and rehabilitation exercise.

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He said the Abuja metro line was very important to developing the FCT’s economy, adding, “We are almost 97 percent. All the works are going on to make sure that May is a reality”. 

Continuing, Barr Wike said, “I want to say that as of yesterday, Mr. President has approved the schedule for the commissioning of projects for his one year in office. This is a very important project. Those of us who rode on the metro line, you will see that it’s more convenient to use the metro line than even the vehicles to go to the airport.

“So, I’m really impressed with the contractor, CCECC. They have assured us that all the renovation works will be ready before the commissioning date.

“I believe this will be the first project that Mr. President will like to inaugurate because it’s very key to the development of the economy, particularly as the FCT is concerned”.

“So, for me, it’s a dream come true and we are happy that after all is said and done, the metro line will be in use for Nigerians come May 2024”.

Speaking on the operational cost for the metro line, especially the training of personnel, the Minister disclosed that the FCTA has paid its contractual obligations to the contractors.

He said though the cost was quite expensive, it was also important to ensure that there is a balance between saving cost and safeguarding the interest of the FCT.

On whether there were plans to provide rail services in densely populated parts of the FCT such as  Nyanya, the Minister said the Abuja mass rail projects is being done in phases, due to the financial implications. He however assured that the issue would be considered as development efforts continue in the FCT.

Speaking further on efforts to improve road transportation in the FCT, the Minister reassured that three bus terminals would be constructed for dedicated routes in the FCT, adding that the FCT Administration will also roll out its transport system in order curtail criminalities and improve overall security in the nation’s capital.

By Chimezie Godfrey

Tinubu expresses commitment on mining, education 

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Tinubu expresses commitment on mining, education 

President Bola Tinubu, on Friday, welcomed newly-appointed ambassadors to Nigeria, expressing his commitment to enhancing cooperation in the areas of education, mining, culture, and tourism.

The President received Letters of Credence from the High Commissioner of Jamaica, Lincoln Downer; High Commissioner of Australia, Leilani Bin-Juda; and Ambassador of Romania, Florin Talapan at the State House, Abuja. 

During separate meetings, President Tinubu assured them of Nigeria’s support for a rewarding stay and reaffirmed his government’s commitment to maintaining an open-door policy toward strengthening existing economic, cultural, and diplomatic relations. 

Speaking when he received the High Commissioner of Jamaica, President Tinubu emphasized the importance of collaboration on trade, investment, and the Technical Aids Corps. 

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He reiterated Nigeria’s readiness to reactivate energy cooperation with Jamaica, particularly in the context of climate change and the utilization of gas as a transition fuel.

”The essence of a relationship is to understand one another. With Nigeria’s energetic and talented youth, we have a cultural affinity with Jamaica and a lot of potential for cooperation in the areas of culture and tourism that will benefit the youth populations of both countries,” the President said.

The Jamaican High Commissioner conveyed his Prime Minister’s willingness for cooperation between Nigeria and Jamaica in various fields, such as energy, trade and investment, culture, and tourism. 

He announced plans for a Jamaican business delegation to visit Nigeria later this year and invited Nigerian investors to explore opportunities in Jamaica’s special economic zones. 

During the meeting with the High Commissioner of Australia to Nigeria, President Tinubu expressed appreciation for the longstanding relationship between Nigeria and Australia.

He acknowledged the shared values and interests between Nigeria and Australia as active members of the United Nations, the Commonwealth, and other multilateral institutions. 

Acutely aware of Australia’s world-leading position in iron ore export, the President emphasized the importance of strengthening cooperation in mining, following recent initiatives by the Minister of Solid Minerals Development, Dr. Dele Alake, to deepen ties between the two nations concerning developments in the sector.

“The Minister of Solid Minerals was in Australia recently, and we look forward to further collaboration in this area. We are also ready to deepen our mutual cooperation in the area of education,” President Tinubu stated.

The Australian High Commissioner expressed enthusiasm for further collaboration during her tenure in Nigeria.

“I am the first Australian indigenous person to be appointed High Commissioner to Nigeria. I have been here for five months, and I love Nigeria. I love the people. I am sure my tenure here will be extremely fruitful for both sides,” the High Commissioner told the President.

The Australian High Commissioner extended an invitation to President Tinubu to consider visiting Australia during the Commonwealth Heads of Government Meeting (CHOGM) in Samoa.

During the meeting with the Romanian Ambassador, President Tinubu assured the ambassador that Nigeria will explore more opportunities for collaboration with the EU-member country.

The Romanian Ambassador expressed his commitment to strengthening ties between Nigeria and Romania, particularly in the education, energy, and defence sectors. 

He announced plans to increase scholarships for prospective Nigerian students interested in studying in Romania. 

“Nigeria is a second home to me, and I have lived here for many years. I have to give back every good thing I have received from Nigeria. My country is looking towards a strategic alliance with Nigeria in the areas of education, energy, and defence,” Ambassador Talapan told President Tinubu. 

By Chimezie Godfrey 

NACCIMA hails Tinubu, Allen Onyema, Keyamo on Air Peace’s inaugural flight to London

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NACCIMA hails Tinubu, Allen Onyema, Keyamo on Air Peace’s inaugural flight to London

The National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dele Oye Esq., has congratulated President Bola Ahmed Tinubu, Minister of Aviation and Aerospace Development, Festus Keyamo and Chairman and CEO of Air Peace, Allen Onyema, for the successful inaugural Air Peace flight from Lagos to London.

In a statement, Oye said the milestone not only signifies the resurgence of Nigerian enterprise on an international scale but also heralds a new era of competitive and accessible air travel for Nigerians.

The statement reads: “On behalf of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), | hereby extend our most profound commendation and heartfelt congratulations to Mr. Allen Onyema, the Chairman and CEO of Air Peace, the industrious management and staff of the airline, the Honourable Minister of Aviation and Aerospace Development, Mr. Festus Keyamo (SAN), His Excellency President Bola Ahmed Tinubu GCFR, and the resilient people of Nigeria on the triumphant launch of the inaugural Air Peace flight from Lagos to London.

“This momentous occasion not only signifies the resurgence of Nigerian enterprise on an international scale but also heralds a new era of competitive and accessible air travel for Nigerians. It is a testament to the indomitable spirit of the Nigerian entrepreneur, epitomized by Air Peace’s valiant entry into a route that has long been dominated by foreign carriers.

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“Through this bold move, Air Peace has not only made travel more affordable but has also instilled pride in our national identity by ensuring our youth-rich creative and culinary heritage graces the skies.”

He added, “We salute the courage and perseverance of Air Peace, which mirrors the very ethos of NACCIMA, where public-private partnerships foster victories for the greater public good. This achievement reminds us of the transformative impact that Nigerian businesses can have, as was the case when Globacom revolutionized billing in the telecoms industry, compelling international players to adopt per-second billing.”

Noting the role of government as a regulator in driving business growth, Oye noted, “In light of the interview by the CEO of Air Peace on Arise TV News, detailing the challenges faced with both local regulators and British authorities, it is clear that the support of our government is crucial. It is with great anticipation that we embrace the promises made by the Honourable Minister of Aviation to confront any future obstructions with ‘fire for fire’.

“We urge a thorough investigation into the claims of economic sabotage, ensuring that such hindrances are met with justice, for they impede not just Air Peace, but the progress of our nation.”

He further stated, “We extend our felicitations to President Bola Ahmed Tinubu GCFR, the Honourable Minister of Aviation and Aerospace Development, the Hon Minister of Foreign Affairs, the Hon.Minister of Industry Trade and Investment, and the indomitable team at Air Peace. Your collective efforts have paved the way for Nigerian travelers to soar anew, freed from the shackles of prohibitive fares and limited choices.

“NACCIMA celebrates this landmark achievement with pride and great expectations for the future. We stand in solidarity with all Nigerian enterprises, and businesses advocating for policies and environments that enable the blossoming of indigenous. Together, we will continue to strive for excellence, bolster our economy, and enhance the welfare of every Nigerian.”

By Chimezie Godfrey

Tinubu appoints management team of NELFUND

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Tinubu appoints management team of NELFUND

President Bola Tinubu has approved the appointment of the management team of the Nigerian Education Loan Fund (NELFUND).

The move is in line with the president’s determination to secure Nigeria’s socio-economic future by ensuring sustainable higher education and critical skill development for all Nigerian students and the youth.

Ajuri Ngelale , Special Adviser to the President (Media & Publicity) who disclosed this in a statement Friday listed those appointed thus: Mr. Akintunde Sawyerr – Managing Director/CEO; Mr. Frederick Oluwafemi Akinfala – Executive Director, Finance and Administration and Mr. Mustapha Iyal – Executive Director, Operations

Ngelale said with the appointment of the management team, the President expects that the necessary apparatuses are expeditiously put in place for the effective take-off of this pivotal Fund for the immediate and lasting benefit of Nigerian students and families in all parts of the country.

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Police rescue 100 kidnapped victims in Katsina

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Police rescue 100 kidnapped victims in Katsina
Celebrate within provisions of law
Celebrate within provisions of law

The Police Command in Katsina State, says it has eliminated five suspected bandits and rescued 100 kidnap victims in the state.

The spokesman of the Command, ASP Abubakar Sadiq-Aliyu, disclosed this in Katsina on Friday while briefing newsmen on the achievements recorded by the command in March.

He added that 658 rustled animals were recovered, while 11 suspected murderers, and 29 rapists were apprehended within the period under review

According to him, a total of 51 major crime cases such as armed robbery, kidnapping, culpable homicides, and cattle rustling among others, were reported in the month of March.

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Sadiq-Aliyu explained that out of the number, 30 cases involving 64 suspects were charged to court.

He added that nine suspects were arrested for armed robbery and 19 others for sundry offences, including criminal force, intimidation, incitement, theft, and belonging to gangs of brigands.

Meanwhile, the command on Friday presented a cheque of over N4.5 million to 13 families of deceased police officers who lost their lives in active service.

Deputy Commissioner of Police, Finance and Administration, DCP Aminu Usman-Gusau, presented the cheques on behalf of the Commissioner of Police in the state, Mr Aliyu Abubakar-Musa.

According to him, the money is from Group Life and Inspector General of Police Family Welfare Insurance Schemes to support families of deceased personnel. (NAN)

By Abbas Bamalli

Tinubu appoints Uzoma Nwagba as CEO CREDICORP

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Tinubu appoints Uzoma Nwagba as CEO CREDICORP

President Bola Tinubu has approved the appointment of Engineer Uzoma Nwagba as the Managing Director/Chief Executive Officer of the Nigerian Consumer Credit Corporation (CREDICORP).

Ajuri Ngelale Special Adviser to the President (Media & Publicity) disclosed this in a statement Friday, saying it was in keeping with his dedicated efforts to ensure financial inclusion and economic prosperity for the majority of Nigerians.

Engineer Nwagba, 36, holds a Master’s of Business Administration from the Harvard Business School and a first-class Bachelor’s of Engineering from Howard University, Washington DC.

Prior to his appointment, Enginer Nwagba served as Chief Operating Officer of the Bank of Industry, in charge of driving micro-credit and other financial interventions at the institution.

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He had also served as Senior Investment Associate, specializing in financial services (banking, insurance, pensions) at the African Capital Alliance. 

Engineer Nwagba was a Software Engineer at Microsoft, where he led multiple teams charged with building enterprise and mobile software for emerging markets (Brazil, Russia, India, China, South Africa, and Nigeria), before his transition to finance.

More information about this landmark initiative of President Bola Tinubu’s administration can be found on:

www.credicorp.ng

The President expects the new Chief Executive Officer of this critical agency to bring to bear his wealth of experience in finance and technology, as well as his record in driving financial interventions across Nigeria in this new role in order to expand access to credit to all classes of Nigerian citizens, while promoting financial inclusion, and enhancing the quality of life of the Nigerian people as they access the tangibles of prosperity.

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