News
Oyo Governor’s Aide Receives Pan African Distinguished Leadership Award.
AFRICAN University Student Parliamentarians from 54 member countries, under the aegis of African Students Union Parliament (ASUP), on Wednesday bestowed the 2017 Pan African Distinguished Leadership Award on the Oyo State Commissioner for Education, Science and Technology, Prof. Adeniyi Olowofela.
The Speaker of the student parliament, Rt. Hon. Kewul Abel from Côte d’Ivoire, was ably represented by his Deputy, Solomon Mensah, a student of the University of Ghana, who led a delegation of ASUP legislative officials to the Ministry of Education, Agodi Government Secretariat, Ibadan to bestow the award on the Commissioner.
Making the presentation, the Speaker said the award was in recognition of the governor’s aide commitment and contributions to effective service delivery, key support to the governor, open door policy which was brought to the front burner by Nigerian representatives at the African Students Union Parliament (ASUP) Conference held at the University of Ghana, Legon, Accra.
Hon. Kewul stressed, “African Students Union Parliament (ASUP) has taken her time to scrutinize this leader who have committed his time to serve the common good in accordance to the Pan-Africanism Ideology. At this point that the youths need to have exemplary leaders as role models, we have carefully selected your highly respected person to honour you with PAN-AFRICAN Leadership Award.
Also, he lamented that Africa, faced with the dire consequence of years of neglect of youths in its ranks, has resulted in various social vices such as conflicts, kidnappings, bombings, robberies which have assumed an alarming dimension.
In his response, at the historic ceremony, while accepting the honour, the commissioner urged the youths not to run Pan Africanism as a philosophy alone, but to evaluate the present state of development, what the future foretells for young people and to properly establish their role in Africa’s development.
The University Don, Olowofela further tasked the youths on the need to contribute to Africa’s development through sound education and technological skills, stressing that the world is open for the youths to shine, especially in the area of technological development.
“African youths can compete globally in the technological field in the new world economy. We only need better technological education and exposure to best practices, especially renewable energy. We must come together to promote development and commercialisation of indigenous technology and adaptation of imported technology for wider application. The development of Africa will be done only by Africans”, the commissioner reiterated.
He continued, ” the entire Africa is looking up to Nigeria that has all it takes to be the greatest nation in the world, and if the country gets it right, other African countries definitely will get it right. For black man to be respected, Nigeria must get it right. We must go back to the basics”.
The ex – council boss, Olowofela, however advised the youths to emulate leaders such as Obafemi Awolowo, Nkwame Nkruma, Nnamdi Azikwe and other great African nationalists, who have lived well and those who are living exemplary lives, just as he called for knowledge sharing with other continents through exchange programmes, academic conferences, and social media interactions.
Earlier, various recipients of the honor include: the President of Sudan, Umar Al-Bashir, President, Federal High Court of Nigeria, Hon. Justice Ibrahim Auta, Vice Chancellor, University of Nigeria, Nsukka, Prof. Chukwuma Ozumba, and the Minister of Science and Technology, Dr. Ogbonnaya Onu, among others.
Some of the ASUP delegates at the event include, the Majority Leader, Lanota Chakibe ( Universite de Kokodi), Director Gender, Dahunsi Nifesimi (Adeyemi College of Education, Ondo), Media Director, Okojokwu Kingsley (Benue State University, Makurdi) and Eveh Dominic ( Nigeria Coordinator, Nasarawa State University, Keffi),
The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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