Napoli might look into the Super Eagles squad, as they look for a replacement for Victor Osimhen.

Osimhen is all but set to leave the Italian champions this summer.

However, the Serie A side are now looking at the 23-year-old’s compatriot, Victor Boniface to replace him.

Boniface, who plays for Bayer Leverkusen in Germany, has scored 10 goals and provided eight assists in just 15 starts.

His impressive displays have seen him win the Rookie of the Month award four times consecutively.

However, he suffered an adductor injury, which has sidelined him for most of the Rückrunde while Leverkusen continued their pursuit of silverware on multiple fronts.

Italian transfer expert, Niccolò Ceccarini, has shed light on Napoli’s transfer plans, mentioning Boniface among the strikers on their radar.

Ceccarini stated, as reported by Calcio Mercato, “In addition to him, there is also Benjamin Sesko. Also in this case the evaluation is the same as Gimenez, Leverkusen’s Boniface.”

[DailyPost]

Here are things to know about Senegal’s Youngest President

2. He went to primary school in his village and undertook middle and high school in Mbour.

3. In 2000, Faye earned his baccalaureate (A university bachelor’s degree.)

4. He attained a Master’s degree in law in Dakar Cheikh Anta Diop University and subsequently cleared both competitive exams, enrolling at the National School of Administration of Senegal (ENA) and the magistracy in 2004.

5. He is 44 years old.

6. He is Senegal’s youngest President.

7. He took over from immediate past president Macky Sall.

8. He was the General Secretary of the banned party PASTEF.

9. He won the 2024 Senegalese presidential election in place of disqualified candidate Ousmane Sonko.

11. Faye was among a group of political opponents freed from prison 10 days before the March 24 presidential ballot under an amnesty announced by Sall.

12. Faye’s campaign was launched while he was still in detention.

13. He was a former tax inspector

14. He is Senegalese fifth president since independence from France in 1960.

15. He is the first president to openly admit to a polygamous marriage.

16. In the election, Faye received over 54% of the vote, making him the first opposition candidate to have won an election in the first round since Senegal’s independence in 1960.

17. In his inaugural address, Faye pledged to fight corruption and reform the economy.

A Deputy Commissioner of Police serving with the Force Criminal and Investigation Department, Alagbon, Lagos State, Gbolahan Oyedemi, on Monday, reportedly committed suicide in his private house in his hometown, Ogbomoso, Oyo State.

The PUNCH reports that Oyedemi was the Aide de Camp to the late former Governor of the state, Adebayo Alao-Akala, during his 11-month tenure as defacto governor in 2006.

A source close to the family told our correspondent on the telephone on Tuesday in Ibadan, the state capital, that Oyedemi, who normally visited his hometown during the Easter celebrations, told his aides at the weekend to go to their various towns to celebrate with their family members.

The source said, “Yes, he committed suicide. His body was found hanging in his house yesterday (Monday). He stays alone, and he normally comes home for Easter celebrations.

“This time, he told his aides to go and celebrate with their family members in their various homes. Only God knows what could have prompted him to commit suicide.”

All efforts to get the reaction of the state Police Public Relations Officer, Adewale Osifeso, were unsuccessful, as his mobile number was unreachable.

Details later…

Mikel Arteta said Tuesday that Arsenal may have to win all of their nine remaining Premier League games if they are to be crowned champions as he prepares for the “most beautiful part of the season”.

The second-placed Gunners are two points behind leaders Liverpool ahead of a busy April schedule following Sunday’s gritty goalless draw at title rivals Manchester City.

“It’s going to have to be really close to that,” he told a pre-match press conference when asked if Arsenal need a 100 percent record from now on to finish top of the table.

“When you see the level and the consistency of the other teams and historically what is needed to win in this league, it’s not going to be very far from that.”

The Spaniard added: “This is where we want to be and now we want to take this opportunity and make it happen.

“We worked every single day with that enthusiasm and passion to make it happen and enjoying the moment as well.

“I see the team really flowing and they are really excited about playing each game and that has to drive this energy until the end.

“I am full of energy and it’s the most beautiful part of the season.”

Arsenal’s fixture against Luton is the first of eight matches this month, including the two clashes with Bayern.

Although they will be huge favourites to beat Luton, they needed an injury-time winner to leave Kenilworth Road with a dramatic 4-3 victory in early December.

Asked about his memories of that game, Arteta said: “Especially how tough it was to win there, how difficult they have made it for every team…They deserve more credit than any other team in this league, how they’ve done it, what they transmit as a team and what they generated and it’s going to be a really tough match.”

 [Vanguard]

Peter Obi, former governor of Anambra state, says N10 trillion is spent by the federal government on ‘unproductive’ debts.

Obi, the presidential candidate of Labour Party (LP) in the 2023 election, expressed his concern in a post on his X page on Tuesday.

“Last year, 2023, our total debt servicing for domestic debts stood at N4.4 trillion and that of external debt servicing was $3.5 billion, which is about N4.9 trillion. In effect, approximately N10 trillion is now spent on servicing unproductive debts,” he said.

According to Obi, the implication is what the country borrowed in a quarter is “about N10 trillion and what we spend on debt service, is also about N10 trillion”.

He said each of the figures is more than the combined budgetary allocation for the “four highest priority areas”, including defence (N3.25 trillion), education (N2.18 trillion), health (N1.33 trillion), and infrastructure (N1.32 trillion).

The Debt Management Office (DMO), on March 22, said Nigeria’s total public debt rose to N97.34 trillion, by N9 trillion, in the fourth quarter (Q4) of 2023.

According to DMO, the increase was primarily due to new domestic borrowing by the federal government to partly fund the deficit in the 2024 budget as well as disbursements by multilateral and bilateral lenders.

“More worrisome is the fact that there has been no corresponding visible usage or investments as required by the law, to show their impact on the nation’s development,” he said. 

“At the end of the second quarter, Q2, of 2023, our debt stood at N87.9 trillion, which was very disturbing to us, because we were at a loss as to what we did with the huge debt, especially the over N23 trillion ways and means borrowed by the last administration, which for me, would have been the end of borrowing without any visible and corresponding investment and benefit to the nation. 

“But sadly and more worrisome is the fact that between the end of the third quarter, Q3, and the end of the fourth quarter, Q4, of 2023, about N10 trillion was added to our debt portfolio , which has now taken our debts to N97.3 trillion, again, without any corresponding visible and verifiable utilization.This is the highest ever borrowed in one quarter.”

He asked the the federal government to de-accelerate borrowings and re-evaluate what has been achieved with previous funding.

Obi said the evaluation would help the government make better decisions for the good of the nation.

[TheCable]

The maiden flight of Air Peace airline to London on over the Easter weekend is a perfect moment to discuss an important aspect of our aviation sector which has been on my mind for a long time. Why can’t the federal government enter into some agreement with Air Peace and officially designate the airline as our national flag carrier? Note that in aviation, a flag carrier is different from a national carrier. This question became quite pertinent after the Hadi Sirika fiasco last year in which the former aviation minister tried, but failed to float a national carrier. While a flag carrier is basically a privately-owned airline (or shipping line) flying the flag of its country on international operations and may enjoy certain privileges, a national carrier is owned and operated by the national government and they usually have certain sovereign advantages. As we all know, British Airways (BA) is not owned by the British government; neither are the many US carriers that bear US colours and flags.

Since the liquidation of Nigeria Airways in 2003, it’s been so difficult for the government to float a replacement. In 2004, the Virgin Group, owned by British billionaire Richard Branson, established a Nigerian subsidiary known as Virgin Nigeria - a joint venture between Nigerian investors and the Virgin Group. The deal was facilitated by the Obasanjo administration. But Branson soon pulled out of the deal and the company collapsed after a few years in business. Branson explained later that he had to quit because Nigerian officials were pestering him for bribes. The airline was then renamed Eagle Airlines and later Air Nigeria. The business ultimately ceased operations in 2012.

Over a decade after, the idea of a national carrier still remains a national fascination, but the government has neither the appetite nor the resources to invest in such a venture, especially given pervasive corruption and the ineptitude of our bureaucrats. When Sirika, a retired pilot, arrived the scene as aviation minister in 2015, he resuscitated the idea, but could not pull it through.

A truly branded flag carrier will make up for the absence of a national airline. If Air Peace becomes our flag carrier, its planes (especially those on international routes) would bear our national colours and flag and ‘’NIGERIA’’ would be prominently emblazoned on it as part of its livery. It will project our national brand and unique Nigerian attributes, culture including cuisines and hospitality to many parts of the world. That’s why flag carriers are sometimes referred to as ‘’Embassy on Wings’’.

Already, Air Peace has promised to serve Nigerian cuisines on its London route and it was also heartwarming seeing those beautiful airhostesses dressed in ‘’ishiagu’’ designs. In return, Air Peace will enjoy enhanced customer loyalty as passengers usually prefer their flag carriers out of a sense of national pride. The government will also provide the airline with many incentives such as official assistance to develop more international routes in accordance with our bilateral air services agreement (BASA) and support in aircraft acquisitions. Air Peace could also access FX at official rate. I should emphasize that such partnership with the government does not imply that the government has assumed any proprietorship or ownership rights on the airline; and so, government officials will not interfere in the management of the airline and shall not seek to make any appointment into its board or management or demand for free or concessionary tickets.

 Air Peace has shown considerable resilience and determination to succeed in the face of huge challenges. It therefore deserves to be supported by Nigerians and the government. With over 50 aircraft, 30 destinations and 5,000 employees, it is Nigeria’s biggest carrier, serving major cities in the country and flying to many African countries and the Middle East. Coming in the 11th year of the company’s existence, the London route is a marvelous attainment for a privately-owned African airline. London is the airline’s seventh international destination and it ‘’signals our entry into the European market’’, according to Chairman Allen Onyema. New York and Houston routes are also coming. The London operations would be carried out with Boeing 777 and Boeing 787 Drealliner aircraft. It would be operating daily flights to the Southern Terminal of Gatwick Airport, with fares far cheaper than what competition was offering. The inaugural flight with 260 passengers took place seven years after the last indigenous airline, Medview, operated this very lucrative international route.

The immediate impact of Air Peace’s entry into the Lagos-London route is the drastic fall in airfares charged by other international carriers. They were forced to reduce fares from N4 million to between N1.8 m and N1.9 m, compared to Air Peace’s N1.2 m for economy. Besides, these foreign airlines were also piling pressure on the CBN to sell them FX at discounted rates. The UK has 21 weekly slots into Nigeria with BA alone operating 14.

In a recent TV interview, Chairman Onyeama acknowledges that his airline and other Nigerian-owned international carriers are automatically regarded as flag carriers. This is not enough. Those aircraft must be appropriately branded. He also listed the many challenges which Air Peace has been facing both within and outside Nigeria in the course of applying for the London route. The Nigerian government must do everything to ensure that Air Peace succeed.

The federal government’s subsidy reforms, rather than the expansion of money supply, are a major driver behind the persistent core inflation in Nigeria.

This is according to a study by Eric Ismail Otoakhia of the Department of Economics, Faculty of Business School, Ahmadu Bello University, Zaria, which was published in the latest edition of Bullion, a publication of the Central Bank of Nigeria (CBN).

Titled ‘Do Fuel Subsidy Shocks Prolong Price Instability in Nigeria?’, the study delves into the economic repercussions of Nigeria’s approach to handling fuel subsidies. The paper rigorously examines the ripple effects that follow the removal of fuel subsidies on the nation’s price levels from December 1996 to August 2023. By adopting a dynamic autoregressive model, the study aims to quantify the impacts of these changes on economic stability.

Subsidy reforms counterproductive to cost of living stability

The findings pointed to the counterproductive effects of subsidy reforms on the cost of living, highlighting the challenges faced by fiscal and monetary policy coordination in ensuring economic stability.

The study read:

• “The removal of such subsidies, when accompanied by income redistribution and increased government spending on public investments, inevitably leads to a persistent increase in the price level.
• “The findings of this paper have shown that government actions in handling fuel subsidies are counterproductive to fiscal and monetary policy coordination in ensuring a stable cost of living.”

The study, however, noted that fuel subsidies have been a double-edged sword, offering relief against the rising cost of living by stabilizing fuel prices, yet posing sustainability challenges amidst Nigeria’s significant infrastructure needs and escalating debt levels.

The money supply effect

Nigeria’s broad money supply (M3) surged to a new historic high of N95.56 trillion as of February 2024 despite the hawkish tightening stance of the Monetary Policy Committee (MPC). This figure represents a staggering 79.29% surge from the N53.3 trillion recorded in February 2023, showcasing a substantial year-on-year growth of N42.26 trillion.

The study, however, noted that increase in the money supply does not trigger significant and prolonged rises in inflation, suggesting that phasing out fuel subsidies introduces greater risks to economic balance.

The study added:

• “The results reveal a prolonged increase in inflation rates following a positive shock to the positive semivariance of fuel prices, indicating that fuel subsidy reforms disrupt price levels and impede fiscal-monetary policy coordination to achieve price stability.
• “In contrast, a positive shock to the money supply does not result in a significant and extended rise in inflation rates. This suggests that eliminating fuel subsidies poses a greater risk to price stability.”

The weakness in cash transfers

The World Bank recently said that cash transfers can help save Nigerians from intergenerational poverty traps as inflation and low economic growth adversely affect the poor. Also, the International Monetary Fund (IMF) emphasised the need for the Nigerian government to prioritise the full implementation of its cash transfer program to aid vulnerable households. This step is crucial before the government takes on the task of revaluating the costly fuel and electricity subsidies.

The paper, however, warns against depending solely on income transfers as a solution to the adverse effects of subsidy removal, given the government’s fiscal constraints. It recommends exploring alternative subsidy approaches, like agricultural subsidies, to promote food security and support the agricultural sector, offering a more viable and sustainable solution for economic stability.

The study noted:

• “If the current administration successfully eliminates fuel subsidies, relying solely on income transfers will not provide long-term stability in the cost of living.
• “These transfers are unsustainable given the current fiscal constraints of the government. Instead, an alternative subsidy approach, such as agricultural subsidies that encourage farmers and promote food security, may be more viable.”

The fuel tax option

The research proposes a novel approach to manage the economic implications of subsidy removal. Rather than erratic withdrawal of fuel subsidies, it suggests the implementation of a fuel tax targeting non-commercial vehicles. Such a measure would not only foster energy efficiency but also contribute to reducing CO2 emissions, aligning with global environmental objectives.

The study concludes that removing fuel subsidies leads to unmanageable increases in the inflation rate, with core inflation especially sensitive to such governmental energy reforms. The analysis criticizes the government’s recurrent attempts to remove subsidies as detrimental to the broader goal of macroeconomic stability.

Proposing a shift in subsidy strategy, the research advocates for funding subsidies through direct taxes on private, non-commercial vehicles. This strategy could expand the government’s tax revenue and correct the market failures associated with prolonged energy subsidies.

The Co-convener, Lucky Aiyedatiwa Campaign Organisation Foot Soldiers (LACO-FS) in Ondo State, Biyi Poroye, has said the allegation of certificate forgery against Governor Lucky Aiyedatiwa is the work of detractors who are crying wolf over nothing.

Naija News reports that Poroye, who is also the Chairman of Emerging Political Platform (EPP), while speaking with journalists in Akure on Monday, said Aiyedatiwa was not jittery over the allegation of certificate forgery.

According to him, Aiyedatiwa has no certificate scandal and is well-qualified to contest and win the party’s primary and November elections.

He further declared that those uncomfortable with Aiyedatiwa’s academic qualifications should approach the court of law for redress rather than brandish fake police reports on his academic records.

He said, “For some time now, the media platforms have been abuzz with lurid stories, insinuating that Governor Aiyedatiwa does not have a secondary school certificate as claimed in his bio-data.

“Thankfully, facts don’t lie. Recall that the then Governor of Lagos State, Alhaji Lateef Jakande, in his developmental stride in the education sector, relocated some dilapidated public schools to his newly built public schools.

“Therefore, Governor Aiyedatiwa who claims that he entered Ikosi High School in 1980 and passed out of the school in 1982 was right after all, because he was relocated to that school when he was in Form 3, and he passed on of it in 1982, at Form 5.

“This has in no doubt addressed the worry of all those who have been asking that how could Aiyedatiwa enter secondary school in 1980 and pass out in 1982.

“We indeed love this sort of inquest, and we want to task the good people of Ondo State and social critics to dig into the past/present of all the governorship aspirants and sponsors, across the party lines.

“For instance, how can aspirants who can not tell how they become millionaire overnight want to become the governor of Ondo State? Those who have handled the resources of the state with questionable issues. We need to ask questions.”

[NaijaNews]

Former Aviation Minister, Chief Femi Fani-Kayode, has said the federal government’s close alliance with the United States, the United Kingdom, and other super powers in the West is harmful to Nigeria.

The former minister said the partnership that Nigeria is enjoying with its former colonial masters, the UK, and their allies is indirectly hampering its relationship with Russia.

Fani-Kayode said this while speaking on the significance of the visit that he and his colleagues and some of his colleagues to the Russian ambassador in Nigeria during a recent interview with Arise TV.

“Nigerian government has been excessively close to the United States of America, and the United Kingdom, and that in itself, in my opinion, has its own baggage,” Fani-Kayode said.

He said the United States, during the administration of former President Barack Obama failed to sell weapons to Nigeria in the fight against Boko Haram terrorists, and its allies followed suit, saying Russia would not have done that.

“During the administration of former President Goodluck Jonathan, the US led by Barack Obama said categorically that they would not sell arms to us to fight Boko Haram. By that time Boko Haram was taking over probably half of the North East zone of Nigeria.

“They went on to say no country close to them like Israel should sell to us. And, we resorted to buying arms from the black market… Russia was not in the equation at all. We were not looking in their (Russia) direction because of the alliance (with the West). Our allies, our life-long partners, our former colonial masters completely betrayed us,” he said.

Last week, Fani-Kayode led a delegation of prominent Nigerian leaders, including the immediate-past Minister of Communications and Digital Economy, Prof. Isa Pantami; Senator Mohammed Hassan; Senator Bashir Lado; Hon. Farouk Adamu Aliyu; Dr. Joseph Onoh, and others on a condolence visit to the Russian Embassy in Abuja.

The solidarity visit was to commiserate with President Vladimir Putin and the Russian people on the terrorist attack which took place in Moscow last week and which resulted in the cold-blooded murder of 140 innocent and defenceless Russian civilians.

Speaking about the visit during the interview, Fani-Kayode said, “We are constrained by our faith and humanity to express our concerns and condolences primarily for those who lost their loved ones. It is very important.”

[DailyTrust]

A women leader of the All Progressives Congress, APC, Hajia Maryam Suleiman, has slammed Kaduna State Governor, Uba Sani, accusing him of disloyalty to his predecessor, Mallam Nasir El-Rufai.

Suleiman, who is popularly called Mai Rusau, was until her suspension, the APC Women Leader in Badarawa/Mailali Ward.

In a video which has gone viral, Suleiman recalled how El-Rufai, in 2019, travelled almost 500 times to lobby party chieftains at the APC headquarters in Abuja to ensure that Sani became the representative of Kaduna Central Senatorial District in the 9th National Assembly.

Speaking in Hausa, Suleiman said El-Rufai fought hard and took risks to remove former Senator Shehu Sani in order to make way for Uba Sani, who was considered loyal at the time.

The outburst earned Suleiman a suspension from the party, according to a letter dated 31 March 2024, which was obtained by DAILY POST on Monday.

The letter, signed by the Ward Chairman, Ali Maishago and Secretary, Saka Bassahuwa, accused Suleiman of gross misconduct for criticizing Governor Uba Sani.

Parts of the letter read: “The Badarawa/Mailali Ward APC Executive Committee after due deliberations and careful examination on the viral video clip released on 30th March, 2024 via Social Media network: Facebook, Watshapp, and Tiktok which is against the constitution of our dear party, APC as stated in Article 21.2(v).

“Subsequently, the party relied on defamation of character of his Excellency, the Executive Governor of Kaduna State, Malam Uba Sani.

“Unauthorised Publicity of the party dispute that discredited the personality of the Executive Governor of Kaduna State.

“From today, Sunday 31st March, the leadership of APC in Badarawa/Malali Ward unanimously resolved to suspend Hajiya Maryam Suleiman from the party pending further investigation on the matter from the constituted authority.”

Meanwhile, speaking with DAILY POST on Monday, Shehu Sani, who represented Kaduna Central Senatorial District, recalled how he was blocked by the former governor of Kaduna State, Nasir El-Rufai, when he attempted to return to the 9th Senate.

According to him, El-Rufai blocked his return to the Senate because he stopped him from accessing a $350 million World Bank loan when he was chairman of the Senate Committee on Local and Foreign Debts.

Shehu Sani insisted that he took the action in the interest of the people of Kaduna State, as the debt hanging on the state was more than revenue accruing to the state at the time.

He said: “As Senate Committee Chairman on Local and Foreign Debts in the 8th Senate, I did block El-Rufai from accessing the sum of $350 million loan after I have analysed critically the huge debt that was hanging on the state at the time.

“I did that out of genuine interest for the state and not out of malice, but it became an offence El-Rufai used against me.”

[DailyPost]