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Buhari and I can never deceive Nigerians, Osinbajo reassures

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NIGERIA’S Vice President, Prof. Yemi Osinbajo, has said that himself and President Muhammadu Buhari can never deceive Nigerians.

The Vice President said the Buhari-led administration is concerned about the plight of the ordinary Nigerians and would continue to carry out programmes that would improve their lives.

Contained in a statement issued by the spokesman to the Vice President, Laolu Akande, Osinabjo added that the Federal Government is focused on making things better for the common man.

“The focus of our government is on how things can be better for the common man. We are not in the business of trying to deceive Nigerians. You can accuse me and the President of anything, but you will never find us deceiving Nigerians.”

Making references to the Buhari administration’s National Social Investment Programme (N-SIP), Osinbajo noted that the administration is able to do so much more with fewer resources.

“The President has ensured that nobody steals money from the treasury. The major problem Nigeria had before now was the fact that people stole from the nation’s coffers. Once the country is able to stop corruption, it would be better.

“The first thing we did was tackle unemployment by employing young men and women through the N-Power job scheme, which has so far employed 500,000 young graduates.” The paid volunteer programme has a two-year duration, but it has now been extended for a batch.

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“Every state has N-Power, noting that there are plans to employ more because of the number of graduates. This is a social safety net for young unemployed Nigerian graduates.

“So far, we have given about 400,000 MarketMoni loans, but the target is to give 1 million loans to artisans and traders, while TraderMoni loans are N10,000 interest-free loans to petty traders, of which 2 million are expected to be reached in the first phase”, the
Vice President stated.

He highlighted the Federal Government’s Energizing Economies Initiative, which provides clean, affordable, and constant power to economic clusters such as big markets and Micro, Small, and Medium Enterprises (MSMEs) across Nigeria.

Last week Friday, the Vice President commissioned the Sura market Independent Power Project in Sura shopping complex in Lagos State; a 1.5MW independent mini-grid power supply system to provide clean and affordable electricity to over 1,000 shops in the market.

According to Osinbajo, the Buhari administration’s Energizing Economies Initiative, which is being implemented by Rural Electrification Agency (REA), is designed to provide clean, stable and affordable electricity to Nigerians in these economic clusters. So far, thousands of shops in Sabon Gari in Kano State, Ariaria market in Aba, Isinkan market in Akure, Ondo State, Edaiken market in Benin, Edo State, and Sura market, Lagos, have been provided solar power through the initiative.

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“Power is a major problem in Nigeria and our efforts is to solve this through alternative energy such as solar power. We are not relying on the national grid alone. We are also encouraging the private sector to provide power. The new strategy of the government is to put power in different places so as to make life easy for Nigerians without relying on the national grid. We are still working on the national grid. This country is very big, that’s why we have to decentralize,” he added.

Speaking further on the benefits of the N-SIP, the Vice President assured Nigerians that the Home-Grown School Feeding Programme was authentic and was a major part of the administration’s plan to improve the lives of Nigerians. “Currently, it feeds daily over 9 million schoolchildren in public primary schools in 26 states. Also, the products are sourced from local farmers, which improve the local economy.”

He further stated the administration’s commitment to developing the Niger Delta region and how its engagement has helped to maintain peace and stability in the region, which has also improved oil production and the country’s revenue.

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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