Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Nigeria Should Carry Out More Research On Safety, Benefits Of Genetically Modified Organisms

As food scarcity looms in Nigeria, with farmers facing enormous challenges, agricultural biotechnology involving use of different scientific techniques to modify plants and animals may be the way forward. Scientists have reported that genetically modified crops have more yields, require less spraying, and enhance nutrient composition. They also are resistant to pests and disease.

Nigeria approved its first biotechnology crop in 2018 and presently, two crops; Bacillus Thuringiensis (Bt.) cotton and cow pea has been approved for commercial use. This development, though welcomed by some Nigerians especially scientists, also raised safety concerns. Countries such as France, Germany, Austria, Greece, Hungary, the Netherlands, Latvia, Lithuania, Luxembourg, Bulgaria, Poland, Denmark, Malta, Slovenia, Italy and Croatia are reported to have chosen a total ban on GMOs.

The national vice president, All Farmers Association of Nigeria (AFAN), Chief Daniel Okafor, told me that from what he had seen, scientifically modified crops do better in terms of yields but urged the institutions to carry out more research while the regulatory agencies do their work as well |||READ MORE

Why World Bank backs Osinbajo-led power reforms with $750m

The World Bank Board has approved a $750 million facility for the Nigerian Power Sector in a bid to support the Buhari administration in providing constant power supply to Nigerians.

The facility under the Bank’s The Power Sector Recovery Programme (PSRP) buys time in favour of the Nigerian consumers as it forestalls the increase of tariffs especially for the lowest rungs of the consumers and imposes an obligation on DISCOS to step up their service delivery including issues of metering.

The comprehensive power reforms being instituted by President Muhammadu Buhari has seen the administration sign strategic power deals including one with the German government and Siemens |||READ MORE


It’s force-feeding not school feeding by Rotimi Fasan

The ill-timed initiative of the Federal Government of Nigeria to provide meals at this time of global lockdown for pupils in schools should be called by its proper name: force-feeding.

We all know what it entails to force-feed a child in our part of the world. For those who don’t, this is what happens when a child for one of several reasons, usually loss of appetite due to ill-health, refuses to eat.

After all petting and cajoling had come to an end and there is nothing left more to do to persuade the child to eat, the stalemate is broken when the child is force-fed. It is a last-resort tussle of desperation for which my mother holds a black belt in the heavyweight category |||READ MORE


Lagos doctors begin indefinite sit-at-home to protest Police harassment

The Lagos State branch of the Nigerian Medical Association, NMA has directed doctors in state to proceed on an indefinite sit-at-home order to protest what they described as ‘conflicting directives by the government and incessant police harassment’ on medical doctors and other health workers in the state.

In a press statement made available to Vanguard, and jointly signed by the State Chairman of the NMA, Dr Saliu Oseni and the Secretary, Dr Ramon Moronkola, the sit-at-home order is expected to begin today, (Wednesday), 20th May 2020 from 6 pm.

The medical doctors maintained that it was no longer safe for their members to continue to provide healthcare services under the present confused arrangement |||READ MORE

 


Head of Service’s son caught in ‘ghost job’ scandal

The son of the Oyo State head of service has been caught in a job scandal.

Ayobami Agboola, whose mother, Amidat Agboola, was appointed in 2019, was criticised on social media on Saturday after a user said he promised to use his mum’s influence to secure him a slot.

Sulaimon Adesola said Mr Agboola promised to include his name in a list of “ghost workers” in Oyo State |||READ MORE …

 


NAFDAC bars firms from using COVID-19 to promote brands

The National Agency for Food and Drug Administration and Control has warned infant foods producing companies from using the coronavirus pandemic as a means to promote their brands.

It gave this directive in a statement on, “COVID-19 pandemic lockdown and guidance note to companies that donate or market breastmilk substitutes for infants.”

NAFDAC stated that pursuant to provisions of the NAFDAC Act, CAP N1 LFN 2004 and the Marketing (Breast-Milk Substitutes) ACT CAP M.5 LFN 2004 and the BMS regulations, in keeping with the WHO International Code of BMS, wished to provide clarifications regarding donations of BMS in the context of lockdown and financial barriers occasioned by the national response to the COVID-19 pandemic |||READ MORE …


SELLERS 'N' BUYERS NIGERIA: Back on Track


SNBNG is an acronym for Sellers ‘N’ Buyers Nigeria, an online community conceptualized to facilitate buying and selling of goods and services.
The SNBNG community comprises buyers and sellers and other members of the public.
SNBNG’s first launch was in May 2016 across the WhatsApp platform where interested persons were allowed membership to enable them trade within the community. Though, quite encouraging as membership and activities in the community grew astronomically, the SNBNG project was halted in 2017 to allow its creators improve on its aims and objectives, as well as enlarge its scope to accommodate more activities for a more superior engagement |||READ MORE ….


Don’t extend lockdown in Lagos, Abuja, FG advised



Both the Federal and Lagos State governments have been advised not to extend the ongoing lockdown in Lagos State and Abuja.

Rather, President Muhammadu Buhari and Governor Babajide Sanwo-Olu should, as a matter of urgency, find ways to relax it.

Chief Adesunbo Onitiri,a renowned socio-political activist and critic, gave this advice in a press statement in Lagos yesterday |||READ MORE …



FCT IRS Explains Reason For Sending SMS To Taxpayers



The Federal Capital Territory Internal Revenue Service (FCT IRS) says the Short Message Service (SMS) sent to federal workers and those residence in the territory is in order.

According to the Executive Chairman of FCTIRS Mr Abdullahi Attah, the SMS is in compliance with the law which mandates the Service to do so.

Attah said this in an interview with News Agency of Nigeria (NAN) in Abuja on Sunday.
He explained that the law required every taxable individual to file a tax return within 90 days after the end of the financial year |||READ MORE …



IN FULL: $1.25bn for Abuja rail, $500m for NTA — Buhari’s $22.7bn loan spending plan




The senate has approved President Muhammadu Buhari’s $22.7 billion loan request — years after it was rejected by the previous assembly.

At its plenary session on Thursday, the upper legislative chamber approved the 2016-2018 external borrowing plan which the president said would be used for critical projects across the country.

TheCable understands Nigeria’s public debt profile stands at N26.215 trillion as of September 2019.

According to a document accompanying the president’s request, the fresh loan is for about 35 projects, many of which are infrastructural |||READ MORE …


Minimum wage: NLC state councils to take action against erring govts


Nigeria Labour Congress (NLC) has directed its state councils to go on strike if any state government fails to implement the N30,000 new national minimum wage.
Speaking with The Nation, NLC President Ayuba Wabba said the organised labour had given each state council the template on the new wage and the consequential adjustment.
He stressed that no state should be excused for not implementing the new minimum wage |||READ MORE …


Labour crisis looms in kwara as operators of MicrofBanks raise alarm 2,000 workers will lose their jobs



Ilorin…Labour crisis looms in kwara state as operators of MicrofBanks in the state on Wednesday raised the alarm that 2,000 workers in their fold will lose their jobs over a recent directive of the state government to civil servants to open accounts with commercial banks
Chairman of the group,Alhaji Ahmad Suleiman who disclosed this while addressing newsmen in Ilorin, therefore appealed to the state government to rescind its directive which said that civil servants should close their salary accounts in microfinance banks and open accounts with commercial banks to ease salary payment.
Vanguard reliably gathered that the state government action was prompted by the ease with which it would be paying the minimum wage salaries in the commercial banks unlike in the microfinance banks where most civil servants have their salary accounts |||READ MORE …


Enugu workers celebrate payment of new minimum wage



There was jubilation in Enugu State, on Tuesday, as civil servants marched through the streets of Enugu to the Government House, to thank Governor Ifeanyi Ugwuanyi for being the first governor of the state, since the inception of democracy in 1999, to pay them the minimum wage without rancour.

The jubilant workers, led by organised labour in the state, comprising the state Chairman of Nigeria Labour Congress, NLC, Virginus Nwobodo; his Trade Union Congress, TUC, counterpart, Benneth Asogwa, and Chairman of Joint Public Service Negotiating Council, Igbokwe Igbokwe, among others, marched from the state secretariat in GRA, through Garden Avenue, Ogui Road and Bisala to the Government House at Independence Layout.

It was such an emotional event as the workers sang solidarity songs, while also thanking Governor Ugwuanyi for paying them the agreed new minimum wage, during the weekend |||READ MORE …


SMEDAN Kicks Off Nationwide Registration Programme For MSMEs


A nationwide mass registration programme that is designed to provide tailored and critical hand-holding services to the informal operators (medium,small and micro enterprises) in Nigeria and ensure their growth, sustainability and diversification has been launched by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). The programme is expected to facilitate the development of a comprehensive database for MSMEs in the country.

Director-general, SMEDAN, Dr Umar Dikko Radda,who spoke at the launch, explained that it was expected to facilitate the sourcing, developing, warehousing and managing of a comprehensive and verifiable database of MSMEs with a view to providing wholesome solution to a formalised MSME subsector of the Nigerian economy.

He said that MSMEs that are registered on SMEDAN official website portal – www.smedanregister.ng, would be allowed by the agency to gain access to funding support, empowerment, training and other facilities provided by federal government agencies as well as other lending and support institutions at the federal, state and local government levels |||READ MORE …

Environment: FG prepares bill to ban plastic production



The National Assembly and the Federal Ministry of Environment have disclosed that there are plans to sponsor a bill meant to prohibit the production of plastics with a view to preserving the environment.

A member of the Senate Committee on Marine Transport, Senator Tolulope Odebiyi, disclosed this in Lagos at the launch of the Maritime Action Plan for Marine Litter and Plastics Management in Nigeria hosted by the Nigerian Maritime Administration and Safety Agency, NIMASA.

Odebiyi said the bill would be harmonised with input from the Federal Ministry of Environment to make a holistic law that would impose tough sanctions on the production of organic polymers |||READ MORE …


Morgan Stanley to Buy E-Trade for $13 Billion



The move will give one of Wall Street’s powerful blue-chip firms control of a major presence in the world of online brokerages.

Morgan Stanley announced on Thursday that it would buy E-Trade, the online discount brokerage, for about $13 billion, in the biggest takeover by a major American lender since the 2008 global financial crisis.

The deal would give Morgan Stanley — long known as one of Wall Street’s most blue-chip names, whose asset management business caters to the wealthy — a big share of the market for online trading, an additional 5.2 million customer accounts and $360 billion in assets |||READ MORE …


FG secures $1.5 b for Ajaokuta



The federal government has secured about $1. 460 billion for the completion of the Ajaokuta Steel Mills in Ajaokuta, Kogi State.

The development signifies what could become an effective end to the over 40 year-delay in the completion of the multi-billion dollar project.

The Minister of Mining and Steel Development, Arc.  Olamilekan Adegbite disclosed this in an interview in Abuja |||READ MORE …


EFCC, NYSC Embark on Walk against Corruption in Sokoto



The personnel of the Economic and Financial Crimes Commission (EFCC) and members of the National Youth Service Corps (NYSC) in Sokoto State in the early hours of Friday embarked on a road walk to sensitize the general public on the dangers of corruption.

The walk, which started at 8 am, commenced from Shehu Kangiwa Square, Sokoto through Emir Yahaya Way, Ahmadu Bello Way and back to the square where the public were addressed.



Speaking at the event, the EFCC Zonal Head for Kebbi, Sokoto and Zamfara States, Abdullahi Lawal, said the anti-graft agency set aside Friday, February 14, being the Valentine’s Day, to engage the youths and sensitise them on the fight against corruption, as the day has a lot to do with them |||READ MORE …



Breaking: Lagos closes 16 companies over N126.19m tax evasion



The Lagos State Internal Revenue Service(LIRS) on Friday announced that it had closed 16 companies in the state over alleged failure to remit about N126.19m consumption tax.

The organisation’s Director of Legal Services, Mr Seyi Alade, told the News Agency of Nigeria (NAN) in Lagos that the companies’ tax liabilities were from 2014 to 2016.

Alade,who spoke with NAN during LIRS state-wide tax law enforcement exercise, added that  the  companies were audited for the periods, but had not made the payments to the State Government |||READ MORE …

Nigerian Govt Expecting Ibori, Alamieyeseigha, Diezani, Aluko Loots – Malami



A day after a tripartite agreement was sealed by Nigeria, the Island of Jersey and the United States of America (USA) for the repatriation of $308 million stolen assets recovered from the late head of state, Gen. Sani Abacha, the attorney-general of the federation and minister of justice, Abubakar Malami (SAN), has revealed that the federal government has commenced fresh negotiations for looted funds by former governor of Delta State, James Ibori, former minister of petroleum, Diezani Alison-Madueke, the late governor of Bayelsa State, Diepreye Alamieyeseigha, and Kola Aluko, a businessman.

Malami, who spoke from Washington DC via telephone on Channels Television’s Politics Today programme monitored by LEADERSHIP in Abuja yesterday, said that the recovered Abacha loot would   be returned to Nigeria soon.

The deal was consummated by the interested parties in Washington DC on Tuesday |||READ MORE …