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FEATURES

The National Bureau of Statistics (NBS) has disclosed that Nigeria’s Gross Domestic Product (GDP) grew by 3.46%.

The growth showed an increase in economic performance from Q2 GDP of 3.19% and higher growth from 2023 Q3 GDP of 2.54%.

Nigeria’s Gross Domestic Product (GDP) grew by 3.46% (year-on-year) in real terms in the third
quarter of 2024. This growth rate is higher than the 2.54% recorded in the third quarter of 2023 and
higher than the second quarter of 2024 growth of 3.19%,” it read.

According to the report released on Monday, the Q3 GDP growth was mainly driven by the service sector.

The performance of the GDP in the third quarter of 2024 was driven mainly by the Services sector, which recorded a growth of 5.19% and contributed 53.58% to the aggregate GDP. The agriculture sector grew by 1.14%, from the growth of 1.30% recorded in the third quarter of 2023.

“The growth of the industry sector was 2.18%, an improvement from 0.46% recorded in the third quarter of 2023. In terms of share of the GDP, the services sector contributed more to the aggregate GDP in the third quarter of 2024 compared to the corresponding quarter of 2023.

“In the quarter under review, aggregate GDP at basic price stood at ₦71,131,091.07 million in nominal terms. This performance is higher when compared to the third quarter of 2023, which recorded aggregate GDP of ₦60,658,600.37 million, indicating a year-on-year nominal growth of 17.26%,” it stated.

The publisher of Ovation Magazine, Dele Momodu, has revealed an aspirant gave $30,000 to each of the 774 delegates during the 2022 Peoples Democratic Party (PDP) presidential primary.

Speaking on the Key to Keys podcast show, Momodu expressed regret over spending nearly N50 million to purchase the PDP presidential nomination form, describing the primary as heavily monetised. 

He also stated he would not contest for any party’s presidential ticket unless adopted as a consensus candidate.

 
 

He said, “No, experience is the best teacher, and I have come to realise that there are powers you can describe as principalities that control Nigeria.

“Unless a major political party decides to adopt me through a consensus that Dele Momodu is best suited to change and lead Nigeria, then I can consider it.

“But if I have to pick my money to go and buy a presidential nomination form of about N100 million and the last one I spent about N50 million buying the form. This could have gotten me a property and it was a waste, nobody voted for me – not even one vote because everything was monetized.

“There was one of the candidates who paid as high as $30,000 per delegate and we had 774 delegates, so how do you compete with them? They have stolen the country blind and doing all kinds of deals to make money, especially those in the oil-rich areas.

“It’s not easy and that’s why you can’t compete with them – that’s why they insult Nigerians anyhow because of the amount of money available to them in raw cash. There is no country in the world where people control raw cash like Nigeria.

“The bulk of their money is not in any bank so they are not traceable. If today you ask some politicians that look you need $500 million to become a President, they will find it. So people like us where will I start from? I’m not bothered.”

Last modified on Monday, 25 November 2024 14:16
Former Kogi Central Senator, Dino Melaye has slammed acting National Chairman of the Peoples Democratic Party (PDP), Umar Damagum.
 
Speaking on Monday, Melaye said Damagum and his paymasters will soon be taught elementary politics 101.
 
 
Melaye stated that Damagum has yet to learn the lessons from past primary elections held in Port Harcourt and Abuja.
 
Posting on X, Melaye wrote: “Damagum, his paymasters will be taught elementary politics 101. The lessons of Port Harcourt and Abuja presidential primaries have not been learnt. It is too early to determine the day at noon. Senator Dino Melaye.”
 
The PDP has been embroiled in a leadership crisis since the removal of the former acting National Chairman, Iyorchia Ayu.
 
Recently, a faction of the PDP’s National Working Committee (NWC) suspended Damagum, alongside the party’s National Publicity Secretary, Debo Ologunagba, and National Legal Adviser, Kamaldeen Ajibade.
 
However, the Abuja Federal High Court restrained the National Executive Committee (NEC) and the PDP’s Board of Trustees (BoT) from removing Damagum as the party’s acting National Chairman.
 
The court ordered that no other person must be recognized as the PDP National Chairman except Damagum until the party’s national convention, scheduled for December next year.
Bishop David Abioye has explained why he's setting up his own ministry after leaving the Living Faith Church Worldwide, also known as Winners Chapel.
 
This is coming just after retirement from office as Vice President of Living Faith Church worldwide.
 
 
The revered cleric unveiled plans for a new spiritual platform titled Hour of Revival. The maiden edition of the Hour of Revival took place on Saturday at the Velodrome of the National Stadium in Abuja, drawing a large crowd of participants from diverse backgrounds.
 
Addressing the attendees, Bishop Abioye emphasized that the initiative was a divine directive.
 
Bishop Abioye further clarified that the revival platform is not his personal project but an ordained mission by God.
 
He called on participants to embrace personal revival as a pathway to corporate revival, expressing his hope that everyone in attendance would be transformed into fire-catchers and fire-spreaders.
 
The Hour of Revival, which is open to both saved and unsaved individuals, serves as an interdenominational prayer platform to rekindle spiritual fire and inspire personal and collective renewal.

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The Governor of Imo State, Hope Uzodimma, has confidently asserted that he will conclude his term as a free individual, without fear of being targeted by the Economic and Financial Crimes Commission (EFCC) or any other entity.

Uzodinma stated this following the Feast of Christ the King Mass at the Government House Chapel in Owerri.

 

Speaking on speculations regarding his years in office as a Governor, Uzodimma urged anyone possessing evidence of misconduct to come forward.

“I will leave office a free man, sleep with my two eyes closed without being afraid of anybody, including the EFCC,” he said.

The governor asserted that he has upheld all commitments made to the citizens of Imo.

He conveyed confidence in the legacy of prosperity, infrastructure, and dignity that his administration is creating for the state.

This declaration comes in the wake of the EFCC’s apprehension of former Delta State governor Ifeanyi Okowa on charges of misappropriating funds amounting to ₦1.3 trillion.

Meanwhile, the Imo State House of Assembly’s recent vote of confidence in Governor Hope Uzodinma has sparked mixed reactions among residents, with many questioning its necessity and relevance.

The legislators passed the motion on November 19, citing the governor’s “outstanding achievements,” but critics argue the lawmakers should focus on addressing pressing state issues rather than praising the executive arm.

Speaking to the Daily Post, retired principal Osondu Hyacinth Eriaja expressed dissatisfaction, saying, “I don’t think passing a vote of confidence is one of the legislative functions of lawmakers. They have much to do rather than reducing their duties to mere praise-singing.

“The governor, no doubt, has aides who can showcase what he has done to the public. Imo, lawmakers should allow the executive arm of government to praise itself. The Commissioner for Information, the Chief Press Secretary to the Governor, and other aides are there to trumpet his activities.

“The lawmakers should focus on delivering effective laws that will address present challenges facing the state—such as bad rural roads and insecurity—and not act as the mouthpiece of the executive branch.”

Meanwhile, some residents, like Ugochukwu Akagha, defended the lawmakers, stating it is within their rights to commend the governor while still fulfilling their legislative duties.

“Doing so will not make them deviate from their primary responsibility of law-making,” he said.

Other citizens, however, urged the Assembly to prioritize urgent issues such as the state’s poor road network and ongoing security concerns, particularly with the festive season approaching.

 
 

Nigerian Afrobeats singer, Tiwa Savage, has asserted that hardship in the country is responsible for the huge amount of entertainers being churning out.

The singer made this known during an interview on the ‘Shopping The Sneakers’ podcast.

According to Tiwa Savage, serving in Nigeria is difficult, and artists are just like hustlers.

She said, “When you come to Nigeria, you will understand why we breed so many superstars. To survive in Nigeria is something else so that’s why the artists that come out of Nigeria are just like hustlers. They are just hustling.”

Former Vice President, Yemi Osinbajo, has expressed appreciation to his wife, Dolapo, as they celebrate their 35th wedding anniversary.

Naija News reports that the former presidential aspirant took to his Instagram page to share adorable photos of himself and his wife, including their children.

Osinbajo also thanked his wife for her willingness to give up everything for him and their children.

He added that Dolapo had written several books, run several national prayer meetings, run shelters for vulnerable women, trained thousands of young people in different skills, crocheted a storm, and developed numerous gardens.

He wrote, “My darling @dolapoosinbajo , every year of these 35 years you’ve proved that true love is not a myth or a fanciful phrase—through your willingness to give up everything for me and our children, through your generosity with your time, skills, and great faith by which you have helped us all navigate our sometimes bewildering journeys.

“In all of this, you’ve written several books, run several national prayer meetings, run shelters for vulnerable women, trained thousands of young people in different skills, crocheted a storm, and developed numerous gardens!

“I thank God daily for the gift of you to me. I love you always Dolly. Happy 35th Anniversary.”

 

Kano State lawmaker, Abdulmumin Jibrin has assured that the National Assembly will soon approve President Bola Tinubu‘s tax reform bills, despite recent opposition from the Northern Elders Forum.

Jibrin, who chairs the House Committee on Housing and Habitat, disclosed this during an interview on Politics Today aired by Television Continental on Sunday.

 

The bills, which aim to introduce sweeping changes to Nigeria’s tax system, have sparked widespread debate, with critics arguing that the reforms could disproportionately impact certain regions.

Jibrin, however highlighted that the tax reforms, alongside Tinubu’s broader economic policies, are designed to secure a brighter future for Nigerians.

“I have no doubts about the approval and passage of the tax reform bills. We are committed to ensuring they go through,” Jibrin affirmed.

Naija News reports that the Tax Reform Bills have faced pushback from some state governors, particularly from the northern region, who argue that the proposed derivation-based VAT distribution model would disproportionately disadvantage their states.

Acknowledging resistance to the bills, particularly in northern Nigeria, Jibrin noted that efforts are ongoing to clarify misconceptions and demonstrate their necessity.

For those of us who have studied the bills comprehensively, the benefits outweigh any perceived drawbacks.

“Misconceptions about these reforms largely stem from misinformation being spread,” he explained.

The lawmaker further emphasized that the reforms aim to boost revenue generation and ensure equitable distribution to strengthen Nigeria’s economic stability.

Jibrin stressed that contentious aspects of the bills should be debated and adjusted where necessary, rather than being outrightly dismissed.

Since the bills are now before the National Assembly, it is our responsibility to scrutinise them thoroughly. Any contentious clauses can be reviewed and adjusted, as the bills are not immutable,” he added.

Reflecting on recent economic measures such as the removal of fuel subsidies and foreign exchange market unification, Jibrin highlighted their transformative potential.

While acknowledging the immediate challenges posed by these reforms, he expressed optimism about their long-term benefits.

President Tinubu is making sacrifices today for the sake of a better tomorrow for all Nigerians.

“His courageous reforms are laying the groundwork for a stronger, more resilient economy,” he concluded.

 
 

Former spokesperson of the Peoples Democratic Party (PDP), Kola Ologbondiyan, has condemned the President Bola Tinubu administration’s removal of fuel subsidies and the floating of the naira, describing the policies as detrimental to Nigeria’s economy.

Speaking on Channels Television’s The Morning Brief on Monday, Ologbondiyan argued that a phased subsidy removal combined with effective palliatives, such as subsidised public transportation, would have been a more viable approach.

 
 

He criticised the administration for prioritising subsidised rice instead of addressing broader issues affecting Nigerians.

The former PDP spokesperson expressed dissatisfaction with the PDP’s lack of robust engagement with the government, saying more alternatives should be presented to address the country’s challenges.

His remarks followed a PDP governors‘ meeting over the weekend, during which they urged President Tinubu to reform the economy.

Basically, I as Kola Ologbodiyan, subscribe to the ideas as laid down by the original founders of the party.

“For instance, let’s take the issue of the removal of subsidy, because what has brought Nigeria to its knees has been these two major decisions made by President Bola Tinubu, particularly on the subsidy and removal of the naira.

“But under the PDP leadership in the time past- I am aware that what we had was a phased subsidy removal, which also came with palliatives. The APC has said Nigerians should go and buy rice at ₦40,000 per bag. But the needs of Nigerians go beyond rice. So, I believe the policies could also be better if we have a public transport system where you and I won’t have to drive our vehicles at a subsidised rate.

“But the unfortunate thing as we are witnessing today is that we are paying lip service, even as PDP to engaging the sitting government on its reforms, to put forward alternatives,” Ologbondiyan said.

Since the removal of the petrol subsidy, the price of Premium Motor Spirit (PMS) has surged from an average of ₦189 per litre in May 2023, when President Tinubu assumed office, to over ₦1,000 per litre in recent months.

Former Governor of Anambra State, Chris Ngige, has said the Supreme Court made an error in its judgment on financial autonomy for local governments.

Ngige accused local council chairmen of being too corrupt than governors. He stated that most council chairmen crave to acquire choice estates in Abuja, Lagos and other Western nations.

 

The Labour and Employment Minister under former President Muhammadu Buhari argued that the Supreme Court judgment was in neglect of Section 7 of the 1999 Constitution (as amended).

Ngige stated this at the weekend in Enugu on the topic ‘Local Government Administration and Primary Healthcare’, during the 29th annual general meeting (AGM) and scientific conference of the Association of Urological Surgeons, Nigeria (NAUS).

He noted that more than “15,000 primary healthcare centers were built across the country as constituency projects”, stressing the need for the State Economic Planning Boards to ensure that the abandoned healthcare centers were revamped as quickly as possible.

He noted that the “local government system remained pivotal to basic healthcare system, which former Minister of Health, Prof. Olikoye Ransome-Kuti, transformed into primary healthcare system”.

Senator Ngige further explained council chairmen’s desire for luxury affects building public health centers and schools in their areas and owing teachers several months of salary arrears and allowances.

The same Supreme Court, in 2006, made a pronouncement in which it warned the Federal Government against dictating to the states how to spend local government funds accruable to them.

“The previous Supreme Court ruling when Justice Mohammed Uwais was the Chief Justice of Nigeria (CJN) was pronounced in a case filed by three state governments – Lagos, Abia, and Delta – through their attorneys general, challenging then President Olusegun Obasanjo’s Local Government Account Monitoring Committee Act 2005,” the Nation quoted him.

He emphasized the need to implement statutory first-line deductions for the payment of salaries and wages of council workers, pensions and gratuities, traditional rulers’ entitlements and customary courts’ allowances before paying federal allocation directly to local government chairmen.

He added that the local government system would start working when governors obeyed the law, and the Houses of Assembly became aware of their responsibilities, including calling erring governors to order.