News
Atiku Counsels Youths On Mentoring
Former Vice President Atiku Abubakar who is eyeing the presidency in 2019, has stressed the need for the youths to be properly mentored before venturing into politics.
He spoke as a special guest of honour at a symposium tagged “The Man Atiku’’ organised by Turaki Youth Ambassadors (TURAYA) on Saturday in Abuja.
The Vice President from 1999 ft0 2007 on the platform of PDP, identified poor quality of education as one of the factors affecting youths’ participation in high quality politics in Nigeria.
The presidential aspirant who defected from the ruling All Progressives Congress (APC) to his former PDP again, was represented by the Chairman, All Atiku, Support Group, Mr Oladimeji Fabiyi, at the Symposium with the topic “Politics qua politic: Atiku Abubakar, the Youths and the Nigerian state’’.
Abubakar said that in developed countries, young people who had the potential of being politicians were identified in schools and exposed to political activities along their academic programmes.
“By the time they graduate from school they have mastered the political terrains of their countries. They also try to empower themselves before going full blast into politics.’’
Abubakar, however, said that in Nigeria, a large chunk of youths get involved in politics by accident, adding that they ventured into politics because politics was seen as a quick way to make money.
He said that a lot of them crashed in and crashed out of politics because they failed to achieve their targets within a short period.
“I have come to realise that the damage that poor quality of education has done to Nigerian youths.
“This is a matter that has to be addressed to raise high number of intellectually sound youths to play high quality politics.
“They also need exposure and financial empowerment in their quest to wrestle power from the older generation who have mastered the game over time.
“Remember, the older generation of Nigerian politicians ventured into politics when they were young and since politics is addictive it is not usually easy to quit.
“The reality is that young persons must work hard and should device superior arguments and strategies to send the older generation into retirement and to achieve their political targets,’’ Abubakar said.
He noted that a lot of mentorship is required in the country’s clime to come out of smoky political terrain.
“I did mine with the late Shehu Yar’Adua just as am impacting my knowledge, skills and experience on young persons I come across.’’
He advised Nigerian youths interested in politics to subject themselves to mentorship.
Earlier, the president TURAYA, Mr Ayo Akinrimisi, said that Abubakar has paid his dues to be the next president of Nigeria, saying he has empowered many Nigerian youths.
He pledged that TURAYA formed in 2003 would work with over 500 support groups now working and other available groups to elect Abubakar in 2019. (NAN)
Election: How Billions Of Naira Were Moved To Jonathan’s Residence
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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