FEATURES
• Lamentations Trail 7.9% Vote For Education, 4.9% For Health
• Neglecting Social Sector Could Be Economically Fatal, Experts Warn
• All Challenges Cannot Be Tackled In One Budget Cycle – NECA
Stakeholders have begun to worry about the paltry 12.5 per cent allocation for both health and education in the 2024 Appropriation Bill, predicting that the social sector of the economy may suffer acute funding in the coming years, that will aggravate the poor living conditions of the people.
The bill, which was presented to the National Assembly by President Bola Ahmed Tinubu on Wednesday, did not toe a departure route from previous national budgets that allocated paltry figures to the social sector, which has a direct impact on the lives of the citizens. Essentially, there are concerns that regardless of the plan by the government to grant autonomy to the nation’s universities, allocating 7.9 per cent of the budget to the education sector is grossly inadequate.
President Tinubu, who had in his Renewed Hope manifesto promised 10 per cent allocation to the health sector, ended up allocating N1.07 trillion which represents 4.9 per cent of the budget.
Experts faulted the allocation of less than 25 per cent to the social sector, after government’s removal of subsidy on petrol and floating of the naira that have seen the country’s misery index move up sporadically.
While presenting the details of the N27.5 trillion budget estimates, Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, said the Federal Government would lay emphasis on tax revenue than borrowing to execute the budget.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who said that the budget proposals were realistic and practicable, explained that the deficit was projected at N9.18 trillion or 3.88 per cent of the Gross Domestic Product (GDP), which is lower than the N13.78 trillion deficit recorded in 2023. In the 2023 budget, the deficit represents 6.11 per cent of the GDP.
Edun added that the budget focuses on value for money and raises the economy. “The budget deficit is being brought down from over 6.11 per cent of GDP to 3.88 per cent of GDP. That is a huge change in direction from unlimited and limitless borrowing to re-focussing on revenue and expenditure management to give value for money,” he noted.
Edun said the target was to increase tax-to-GDP from barely less than 10 per cent now to 17 per cent in a couple of years. According to him, the budget would position the economy for foreign investors to come into the country through private partnerships.
“There is privatisation in the budget. That is the direction of travel to create a stable macro-economic environment in which investors can come in and the government is yielding grounds to them and allowing them to come in and invest and provide goods and services for Nigerians,” he said.
Speaking with The Guardian on the 2024 budget, the Chief Executive Officer, Dairy Hills Limited, Kelvin Emmanuel, said the fact that debt servicing and refinancing costs are taking 30 per cent of the entire budget, and debt servicing is practically 94.8 per cent of capital expenditure while education and health, the two most critical sectors and determinants of the GDP growth rate and per capita income of the people, cumulatively got 12.5 per cent allocation, was an indication that the present government was not ready for change.
In the Abuja Declaration of 2010, the government pledged to allocate 15 per cent each to education and healthcare.
To Emmanuel, a good way for the President to show that he is attuned to the plight of the people would have been to ask for structural changes through an amendment of the Public Procurement Act to reduce the incidences of procurement fraud in the public sector, and implementation of the Stephen Oronsaye Report to cut down the cost of running the government to pave the way for more money to be allocated to the education and health sectors.
“The government needs to work on changing the structure of Nigeria’s educational system from revamping curriculum to providing infrastructure, granting higher institutions financial autonomy that will facilitate the establishment of endowment funds. It is sobering and a serious threat to national security that Nigeria currently has one doctor to 10,000 people as against 2.5 per 1,000 recommended globally. And that an increasingly high turnover of medical personnel from Nigeria does not seem to bother this government,” Emmanuel said.
An expert, who chose to remain anonymous, said: “Progressive governance means incremental progress. There are many competing sectors, all critical in their rights, that need to be funded. Let the states do their part because education and health are not on the Exclusive List. If we are placing the burden of N7 trillion on the neck of the masses, how much are the political class willing to bear?”
The Director General of the Nigerian Employers Consultative Association (NECA), Adewale Smart-Oyerinde, is of the view that while education and health sectors are critical, no one budget cycle can tackle all the challenges in the critical sectors of the economy.
“We must appreciate the fact that all the challenges in the critical sectors of the economy cannot be tackled in one budget cycle. We see that the security sector got a large chunk mainly because of the time we are in. Many sectors of the economy deserve the immediate attention of the government. However, we appreciate that all the critical areas cannot be tackled in one budget year. Other years will come, which will give the government another opportunity to look into other sectors and begin to address their problems one after the other.”
An Investment banker, Tolulope Alayande, said while he could understand the need to focus on revenue generation and increase the GDP, neglecting the social sector could be economically fatal soon.
In his words: “The social sector plays a crucial role in an economy by addressing social issues, promoting welfare and fostering inclusive development. It encompasses education, healthcare, social services and community development, contributing to a more equitable and resilient society. Additionally, a strong social sector can enhance human capital, improve productivity, and create a supportive environment for economic growth.”
He gave reasons funding the social sector is crucial. “It helps improve education, healthcare and social services, contributing to human capital development. This, in turn, enhances productivity and economic growth. Adequate funding also addresses social inequalities, promotes inclusivity and fosters a healthier, more skilled workforce. Ultimately, investing in the social sector strengthens the foundation for sustainable economic development and improves overall societal wellbeing. The social sector can be effective in an economy through strategic planning, efficient implementation and continuous evaluation.”
On his part, a retired banker, Ande Mohammed, urged the Tinubu administration to prioritise education and healthcare to enhance the skills and health of the population, contributing to a more productive workforce.
“The government must implement well-designed social programmes that address specific needs, such as poverty alleviation, housing and unemployment, to ensure efficient resource allocation. Involve communities in the decision-making process and implementation of social initiatives to ensure they meet local needs and are culturally relevant. It must build robust infrastructure for healthcare, education and social services to ensure accessibility and quality delivery,” he stated.
On how to ensure that the existing social interventions deliver creditably to the people, he urged the government to regularly assess the impact of social interventions to identify strengths, weaknesses and areas for improvement, allowing for evidence-based decision- making.
Given that the plethora of social interventions by the immediate past administration of Muhammadu Buhari lacked coordination, which made accountability a near-impossible task, Mohammed charged the current administration to prioritise coordination between various sectors and levels of government to create synergies and avoid duplication of efforts.
“By adopting these strategies, the social sector can effectively contribute to social development, foster inclusivity and create a supportive environment for sustained economic growth,” he added.
The ex-banker warned that inadequate funding of the social sector could lead to several adverse effects on individuals and the economy. He further explained that insufficient funds could result in inadequate infrastructure, outdated materials and low teacher salaries, compromising the quality of education and limiting opportunities for skill development.
“Inadequate funding for healthcare may lead to a lack of medical facilities, essential medications and well-trained healthcare professionals, exacerbating health issues and reducing overall well-being. Insufficient support for social programmes addressing poverty, unemployment and housing can perpetuate or worsen existing economic disparities, hindering social mobility. A poorly educated and unhealthy population may contribute to lower workforce productivity, limiting economic growth potential. Inequality and lack of opportunities resulting from underfunding can contribute to social unrest, as communities may feel marginalised and excluded,” he said.
In the long run, inadequate funding in the social sector may lead to higher social costs, as issues such as poor health and limited educational opportunities may require more substantial interventions later,” he said.
Mohammed warned that with a poorly funded social sector, Nigeria might become more dependent on external aid and assistance, limiting its self-sufficiency and economic sovereignty.
“Addressing these challenges requires a commitment to sufficient and sustained funding for the social sector, recognising its integral role in promoting a healthy, educated and skilled population crucial for economic development. Human capacity building in the social sector plays a vital role in fostering sustainable development and improving overall societal well-being,” he noted.
[Guardian]
The chairman of BUA Group, Abdul Samad Rabiu, has rejected an appointment by the All Progressives Congress (APC).
Naija News understands that the ruling appointed Rabiu as a member of the party’s finance standing committee.
The APC, on Friday, released lists and names of its standing committees with Ajibola Basiru, the party’s national secretary, chairing the establishment committee.
Bisi Akande, a former interim national chairman of the party, heads the conflict and reconciliation committee, Felix Morka leads publicity while Uguru Ofoke and Emma Eneukwu are to oversee finance and intergovernmental committees, respectively.
Rabiu appeared in the finance committee alongside A. A Rano, Zach Adedeji, the chairman of the Federal Inland Revenue Service (FIRS), Wale Edun, minister of finance and coordinating minister of the economy, and Senate President Godswill Akpabio, among other lawmakers and prominent party members.
However, in a counter statement shortly after the list was released, the BUA group said Rabiu was not consulted by the ruling party before his name was added to the list, maintaining that the businessman has “consistently adopted an apolitical stance over the years”.
“We extend our sincere appreciation to the APC for considering our chairman for such a distinguished role. This acknowledgment reflects the recognition of his commitment, and that of BUA Group, to economic prosperity and the development of our dear nation, Nigeria.
“With respect to this, we wish to inform the publishers, our partners, stakeholders, and the general public that Mr. Rabiu has decided to graciously decline the nomination/appointment.
“This decision is made in light of the fact that he was not previously consulted regarding his inclusion in the list and his inability to commit time due to his demanding schedule.”
The inauguration of the committees is scheduled to be held on December 6 at its national secretariat in Abuja.
[NaijaNews]
The United States’ largest retailer, Walmart has stopped advertising on the platform X, owned by Tesla CEO Elon Musk.
This decision marks a departure from X after Musk’s recent string of disparaging comments and positions Walmart as the first major company to distance itself from the controversial platform, a report by Bloomberg has said.
Based on reports, Walmart has chosen to discontinue its advertising on X, citing a preference for alternative platforms that better connect with its customer base. The retail company joins Disney, IBM, Sony and other companies to “abandon cart” on the X platform.
What Walmart said
- “We aren’t advertising on X as we’ve found other platforms to better reach our customers,” a Walmart spokeswoman stated.
She declined to say when the change takes effect or what motivated it.
Joe Benarroch, X’s head of business operations, said via email that Walmart “has a wonderful community” of more than 1 million followers on X, and that most of the site’s users do their shopping online.
While Walmart refrained from explicitly linking its decision to Musk’s comments, the move aligns with a broader trend of companies withdrawing their ads from X. This trend gained momentum after Musk publicly expressed agreement with an antisemitic tweet over two weeks ago, prompting notable entities such as Disney, Sony, and IBM to follow suit in abandoning the platform.
Interestingly, Walmart’s departure from X comes amidst Musk’s contentious interview with the New York Times at the DealBook Summit.
During the interview, Musk apologized for his endorsement of the antisemitic tweet, characterizing it as “one of the most foolish things” he has done on the platform. However, the apology emerged only after Musk accused departing advertisers of attempting to “blackmail” him with monetary leverage, punctuating his sentiments with a dismissive directive, towards Disney and other advertisers who left the platform.
What this means for business on Musk’s X
This development adds to the broader narrative of challenges faced by X, which has witnessed several advertisers departing since Musk’s acquisition of the platform, formerly known as Twitter, last year for a substantial $44 billion.
Advertising constitutes X’s primary revenue stream, and the fallout from Musk’s controversial statements has contributed to a notable 60% decrease in U.S. ad revenue, as acknowledged by Musk in September.
Meanwhile, Musk expressed concerns during the DealBook Summit interview that an advertiser boycott could potentially “kill the company,” insisting that the blame for such a scenario would be shared globally among advertisers.
As this unfolds, Walmart’s stock has experienced a marginal decline of over 1% on the market. Despite this, the retailer’s share price maintains an overall positive trajectory, boasting a 7% increase for the year.
[Nairametrics]
The skyrocketing cost of medicines over the last few months is taking a toll on Nigerians. Findings revealed that many people suffering from minor and common ailments and those who require life-long management of their ailments, such as diabetes, asthma, hypertension are increasingly finding it difficult to meet up with the costs of their prescribed and over-the-counter medicines.
Some brands of popular medicines have also become scarce across many pharmacies, health facilities and retail outlets. As a result, patients have to travel long distances to access them and at very high prices, compared to previous prices.
Daily Trust Saturday reports that the situation is dire for some patients with chronic ailments, such as cancer, heart, kidney and liver diseases as some have to resort to partial treatment or abandon it all together.
Nigeria has been described as Africa’s largest drug market with over 70 per cent of medicines used in the country imported from India, China and other countries.
Experts also said over 70 per cent of payment for health care services in Nigeria is done from out-of-pocket expenditure, meaning that people pay most of their health care bills from their little income.
This has made it difficult for many, particularly poor Nigerians to access health care, especially with the skyrocketing cost of medicines.
Reasons for rising cost of drugs
The president of the Pharmaceutical Society of Nigeria (PSN), Prof Cyril Usifo, blamed the hike in prices of drugs on the increase in the prices of Active Pharmaceutical Ingredients (APIs).
“One thing is obvious. The things we use to produce medicines, the APIs, are not produced here. It depends on how much we are using to get them. Then, there is no energy to produce these things. You use generators; and you know the price of diesel. If you price all these together, as a businessman, would you sell for less price?
“If you produce with one kobo, won’t you sell it for one and half kobo so that you would be able to pay your workforce?
“So the answer is obvious. The roads are not good. Go to Agbara and see that some people would produce the drugs but by the time they are evacuating them to reach people here, the vehicle breaks down because the roads are very bad.
“What I am saying in essence is that whatever is happening is not particular to the pharmaceutical sector. It is very painful because at the end of the day, what is happening is that some pharmacies would buy a drug at N2 and they would not give me the exact price. By the time they sell it to you and go to buy the same drug, it would be N5.
“They don’t even have their capital recovered and they have to spend more. And when you want to buy from them you begin to complain.The same companies that are producing are increasing within three months. A pharmacy told me they increased the price of a particular drug more than three times,” he said.
The chairman of the PSN, Borno State chapter, Umaru Abdulkareem, said another reason for the rising cost of medicines was the exit of multinational pharmaceutical companies like GlaxoSmithKline (GSK) from the country.
He said that as a result, the cost of the medicines they manufactured, like their brand of salbutamol inhaler called Ventolin, which is used by asthma patients, has gone high.
He said the cost of some drugs for asthma patients that was just N4,000 had increased to N12,000.
While saying that the cost of another of their brand called Augmentin tablet that was just N6,000 has risen to N24,000 , he said there was also a rise in anti-malaria drugs.
Forex scarcity impedes pharmaceutical companies
In recent months, many multinational pharmaceutical companies have exited Nigeria, citing unfavourable business environment.
An acute forex shortage sparked by lower oil revenues has affected multinationals operating in the country.
For some, there weren’t enough dollars to import raw materials, while others were unable to repatriate profits to their parent companies due to the FX challenge.
Drug manufacturers in Nigeria had warned in June that the scarcity of FX may cause drug scarcity owing to the inability to meet dollar-denominated obligations to some of their suppliers.
British multinational pharmaceutical and biotechnology company, GlaxoSmithKline (GSK), in August announced plans to shut its operations in Nigeria.
GSK Nigeria, which is best known for household brands like Panadol, Andrews Liver Salt and Sensodyne, exited the country after 51 years existence, saying it would adopt a distributor-led model to supply its products in the country.
During its 52nd Annual General Meeting in 2022, the chairman of the Board of Directors, Edmund Onuzo, said the firm, which was the second biggest manufacturer of drugs in Nigeria, was struggling to maintain supply of its pharmaceutical and vaccine products due to shortage of dollars to import ingredients.
“The challenges ahead are quite significant. Some of you may have read reports from few media houses regarding the supply constraints on GSK drugs in the market. We must mention that it continues to be very challenging with foreign exchange non-availability affecting our ability to settle foreign currency-denominated trade payables with product suppliers,” he had said
In November, Sanofi, a French pharmaceutical multinational, which has been struggling, joined GSK Nigeria in announcing its exit from Nigerian operations. The company said it had appointed a third-party distributor to handle its commercial portfolio of medicines from February 2024.
In a related development, Daily Trust Saturday recalls that Unilever Nigeria recently also announced changes in its business model to cease production of homecare category products in June, and ended sales in September. The change was necessitated by the economic headwind.
According to the company’s unaudited interim financial statements for the first nine months of 2023, it lost N1.09billion in the third quarter of 2023. Borrowing costs widened to N1.03bn in Q3 2023 from N328.89million in Q3 2022, mostly caused by the forex policy of the Central Bank of Nigeria (CBN). It also lost N6.297bn in valuation and posted restructuring cost of N3.27bn because of the devaluation of the naira.
Evans Medicals was also forced to shut down operations in 2017 after a court ordered that the drug maker’s assets be taken over by First Bank and the now-defunct Skye Bank due to bad debt.
Situation across states
Mr Okeowo, a contract staff in a bank in Ibadan, earns below N70,000 monthly. His mother, aged 75 has been managing hypertension in the last 20 years and Okeowo has been the one footing the bills. He lamented that the rising cost of drugs is threatening his commitment to footing the bills.
He said, “Just last year, I used to spend between N10,000 and N12,000 monthly to buy my mother’s medical supplies. But these days, I spend well above N20,000 and it strains my pocket, but I don’t have a choice. I am hoping for more grace to be able to take care of her. The poor woman has no one but me and I am already on the edge.”
A pharmacist at Jochem Pharm, Bashorun Ibadan, disclosed that the increasing prices of pharmaceutical drugs products were alarming, even to business owners. According to him, some patients resort to buying other brands of a prescription just because they cannot afford the ones recommended.
Asked whether this has decreased sales, he said there had been no significant reduction in the level of purchases.
“We only noticed that people tend to go for cheaper brands, but they still buy at the end of the day. You know, medications are a necessity. For instance, we have paracetamol tablets from N500 to N200, N150 and N100 per sachet. What we notice is that more people demand for the cheaper ones, which is fine as this doesn’t in most cases determine the efficacy of those drugs,” he said.
Dr Adegboye, a lecturer im the University of Ibadan, who suffers from chronic asthma, said that her drugs were a life priority for her. “I cannot but buy my drugs; they are almost more important than food to me. So, while I complain and grumble about the skyrocketing prices of drugs and medicals, I still have to buy them. I sometimes imagine people who cannot afford the medications but suffer from these ailments. The government has to do something about it. Drugs shouldn’t be expensive like luxuries,” she said.
Mrs Rebecca Gbenga who spoke with our correspondent in Lagos lamented that the price of her drug had almost doubled. She said her eye drops, which she used to buy at the cost of N1,200, now goes for N1,800, adding, “This happened in less than a week and we are not sure it would come down. Go to any pharmacy and find out how much is Cusimolol eye drop today and how much it was two weeks ago. I don’t know what will happen the next time I want to buy it.”
A community pharmacist who identified herself as Mrs Nelly said the manufacturers of drugs increased prices on a daily basis.
“If we bought Gestid, for instance, today at N1,100, the following day it would increase to N1,500, and that is from the distributors. Many Nigerians are not happy, but our hands are tied.
I have resorted to traditional medicine – Diabetic patient
A diabetic patient in Edo State who gave his name as Patrick Odiase said he was finding it difficult to manage his aliment.
He said that as result of the high cost of drugs, many patients had resorted to traditional medicine in managing diabetes.
“I have been managing diabetes for 12 years now, but things are difficult because of the high cost of drugs. I have been using the Glucophage brand of metformin and Daonil and they have been working for me.”
According to him, a packet of Glucopage with two sachet is now selling at N6,500 as against N400.
“In September, I bought the same drug at N2,000 or N2,200, depending on the pharmacy. In October, it skyrocketed from N2,000 to N4,200, and in November, it went up to N6,500,” he said.
He said that as a result of the development he had to reduce the drug he is using, especially, multi-vitamin like Biobetic and Biopentin, which is now N5,000 as against N3,000.
Also speaking, another diabetic patient who wished to be identified as Igbinovia, said he was finding it difficult to cope with the rising cost of drugs.
“The cheapest drug for managing diabetes, Dabetimi, has moved from N300 in October to N400 per sachet,” he said.
He said that sometimes he relied on traditional medicine if his drug got exhausted and he had no money to replace them.
He lamented that the rising cost of drugs was really affecting those managing the ailment.
He called on the federal government to subsidise diabetes drugs, saying many have died as a result of the inability to afford the drugs.
Speaking on the development, Daniel Edegbe, a pharmacist and the owner of Gina Pharmacy, attributed the development to lack of forex for importers to bring in drugs, rise in dollar exchange rate to naira, pharmaceutical company leaving the country, as well as fuel increase.
“In September, 500 miligram of Glucopage was N1,000 a sachet, but it is now N1,500. A pack of 1,000 miligram of it moved from N4,500 in August to N6,200 in September.
“Everything has gone up, including drugs. All branded drugs are very costly now. Augmentin, which was sold at N700 in August, is now N26,000 and above,” he said.
Way out
The president of the PSN, Usifo called for increased efforts towards local drug production, saying, “What is going on might look strange but we are beginning to see the realities of things ourselves. It may be an opportunity for us. We need to do more local production.”
Also, Edegbe said government should make forex available to importers.
Umaru Abdulkareem, the chairman of the PSN, Borno State chapter, advised people to patronise other brands registered by the National Agency for Food, Drug Administration and Control (NAFDAC), as well as check the quality of the foods they eat when they cannot find their recommended brands.
He said, “If you cannot buy those expensive ones like the branded Augmentin, there are other brands that are of lower price you can go for. They are also of good quality but just not the GSK brand.
“Government should also look into encouraging local manufacturing of drugs. If drugs are produced in the country, we can try to control and reduce the exorbitant prices.
“I also advise the government to do their best to control the dollar exchange rate.”
He advised Nigerians against patronising quacks or traditionalists for solutions, adding, “If you have an illness, go to the hospital, they would test you and drugs would be prescribed by physicians.” cost of drugs is threatening his commitment to footing the bills.
He said, “Just last year, I used to spend between N10,000 and N12,000 monthly to buy my mother’s medical supplies. But these days, I spend well above N20,000 and it strains my pocket, but I don’t have a choice. I am hoping for more grace to be able to take care of her. The poor woman has no one but me and I am already on the edge.”
A pharmacist at Jochem Pharm, Bashorun Ibadan, disclosed that the increasing prices of pharmaceutical drugs products were alarming, even to business owners. According to him, some patients resort to buying other brands of a prescription just because they cannot afford the ones recommended.
Asked whether this has decreased sales, he said there had been no significant reduction in the level of purchases.
“We only noticed that people tend to go for cheaper brands, but they still buy at the end of the day. You know, medications are a necessity. For instance, we have paracetamol tablets from N500 to N200, N150 and N100 per sachet. What we notice is that more people demand for the cheaper ones, which is fine as this doesn’t in most cases determine the efficacy of those drugs,” he said.
Dr Adegboye, a lecturer im the University of Ibadan, who suffers from chronic asthma, said that her drugs were a life priority for her. “I cannot but buy my drugs; they are almost more important than food to me. So, while I complain and grumble about the skyrocketing prices of drugs and medicals, I still have to buy them. I sometimes imagine people who cannot afford the medications but suffer from these ailments. The government has to do something about it. Drugs shouldn’t be expensive like luxuries,” she said.
Mrs Rebecca Gbenga who spoke with our correspondent in Lagos lamented that the price of her drug had almost doubled. She said her eye drops, which she used to buy at the cost of N1,200, now goes for N1,800, adding, “This happened in less than a week and we are not sure it would come down. Go to any pharmacy and find out how much is Cusimolol eye drop today and how much it was two weeks ago. I don’t know what will happen the next time I want to buy it.”
A community pharmacist who identified herself as Mrs Nelly said the manufacturers of drugs increased prices on a daily basis.
“If we bought Gestid, for instance, today at N1,100, the following day it would increase to N1,500, and that is from the distributors. Many Nigerians are not happy, but our hands are tied.
I have resorted to traditional medicine – Diabetic patient
A diabetic patient in Edo State who gave his name as Patrick Odiase said he was finding it difficult to manage his aliment.
He said that as result of the high cost of drugs, many patients had resorted to traditional medicine in managing diabetes.
“I have been managing diabetes for 12 years now, but things are difficult because of the high cost of drugs. I have been using the Glucophage brand of metformin and Daonil and they have been working for me.”
According to him, a packet of Glucopage with two sachet is now selling at N6,500 as against N400.
“In September, I bought the same drug at N2,000 or N2,200, depending on the pharmacy. In October, it skyrocketed from N2,000 to N4,200, and in November, it went up to N6,500,” he said.
He said that as a result of the development he had to reduce the drug he is using, especially, multi-vitamin like Biobetic and Biopentin, which is now N5,000 as against N3,000.
Also speaking, another diabetic patient who wished to be identified as Igbinovia, said he was finding it difficult to cope with the rising cost of drugs.
“The cheapest drug for managing diabetes, Dabetimi, has moved from N300 in October to N400 per sachet,” he said.
He said that sometimes he relied on traditional medicine if his drug got exhausted and he had no money to replace them.
He lamented that the rising cost of drugs was really affecting those managing the ailment.
He called on the federal government to subsidise diabetes drugs, saying many have died as a result of the inability to afford the drugs.
Speaking on the development, Daniel Edegbe, a pharmacist and the owner of Gina Pharmacy, attributed the development to lack of forex for importers to bring in drugs, rise in dollar exchange rate to naira, pharmaceutical company leaving the country, as well as fuel increase.
“In September, 500 miligram of Glucopage was N1,000 a sachet, but it is now N1,500. A pack of 1,000 miligram of it moved from N4,500 in August to N6,200 in September.
“Everything has gone up, including drugs. All branded drugs are very costly now. Augmentin, which was sold at N700 in August, is now N26,000 and above,” he said.
Way out
The president of the PSN, Usifo called for increased efforts towards local drug production, saying, “What is going on might look strange but we are beginning to see the realities of things ourselves. It may be an opportunity for us. We need to do more local production.”
Also, Edegbe said government should make forex available to importers.
Umaru Abdulkareem, the chairman of the PSN, Borno State chapter, advised people to patronise other brands registered by the National Agency for Food, Drug Administration and Control (NAFDAC), as well as check the quality of the foods they eat when they cannot find their recommended brands.
He said, “If you cannot buy those expensive ones like the branded Augmentin, there are other brands that are of lower price you can go for. They are also of good quality but just not the GSK brand.
“Government should also look into encouraging local manufacturing of drugs. If drugs are produced in the country, we can try to control and reduce the exorbitant prices.
“I also advise the government to do their best to control the dollar exchange rate.”
He advised Nigerians against patronising quacks or traditionalists for solutions, adding, “If you have an illness, go to the hospital, they would test you and drugs would be prescribed by physicians.”
[DailyTrust]
Nigerian singer, Davido, was today December 1, honoured as an Outstanding Georgia Citizen, at the Georgia General Assembly.
Davido shared a video of the lawmakers giving him a standing ovation when it was announced that he was present.
‘’This morning I attended the U.S. State of Georgia General Assembly meeting with the Georgia House of Representatives and Georgia state senate to be recognized as an ‘Outstanding Georgia Citizen’ … God is good.''
Bank accounts without Bank Verification Number (BVN) and National Identity Number (NIN) will be frozen by the Central Bank of Nigeria (CBN) with effect from March next year.
This is part of sweeping amendments rolled out by the CBN to the regulatory framework for BVN operations and watch-list for the Nigerian banking industry.
These changes, impacting account holders across tiers, mark a significant shift in banking compliance and customer requirements.
The new directives announced by the CBN entail several changes. Individuals holding Tier-1 bank accounts and wallets are now mandated to possess BVN and/or National Identification Number (NIN).
Tier1 accounts are bank accounts that require minimal documentation, usually the mere presentation of a BVN and a means of identification before opening with a maximum withdrawal limit of N50,000 daily and a cumulative balance limit of N300,000.
The requirement for BVN and NIN remains applicable to individual accounts within Tiers 2 and 3.
The account opening process will now involve electronically retrieving BVN or NIN-related information from the NIBSS’ BVN or NIMC’s NIN databases. This data will serve as primary information for onboarding new customers.
Existing individual customer accounts with validated BVNs will now be profiled in the NIBSS’ ICAD within 24 hours of account opening.
The implementation procedures are multifaceted. According to the CBN circular, opening new Tier-1 accounts and wallets without BVN or NIN is prohibited with immediate effect.
From March 1, 2024, funded accounts without BVN or NIN will face restrictions. Unfunded accounts will also be restricted until compliance. All BVN or NIN associated with accounts/wallets must be electronically revalidated by January 31, 2024.
The CBN has urged compliance officers to familiarise themselves with the Guidance Notes accompanying the circular as they apply to all institutions regulated by the CBN.
Furthermore, a comprehensive BVN and NIN audit is imminent, and sanctions will be imposed on identified breaches.
The revised protocols for onboarding new customers stipulates the prohibition of manual creation of customer profiles with subsequent BVN or NIN attachment and mandatory electronic authentication using BVN or NIN details for new customers.
Any inconsistencies, the CBN warned, will halt the onboarding process.
Banks are now required to profile customers’ accounts on NIBSS ICAD within 24 hours of generating an account number.
These amendments, the CBN said, are geared towards fortifying the integrity and security of the Nigerian banking system.
The apex bank noted that compliance with these directives is imperative for all regulated financial institutions to ensure seamless operations and avoid penalties.
[TheNation]
Human trafficking: Nigerian man in court for forcing woman, teenage girl into prostitution in South Africa
AdminA 38-year-old Nigerian man, Adeyefa Adedamola Adetoye has been denied bail by the Kimberley District Court in the Northern Cape, South Africa.
The National Prosecuting Authority (NPA) Northern Cape Division spokesperson, Mojalefa Senokoatsane, who disclosed this in a statement on Friday, December 1, 2023, aid Adetoye is facing charges of human trafficking, assault, rape, and compelled rape, possession of illegal drugs as well as being an illegal immigrant.
The accused was arrested after an intelligence-driven multi-disciplinary operation led by the DPCI, Organised Crime, Intelligence, and other specialized units within the South African Police Service after the law enforcement agencies received information regarding the accused transgressions.
During his arrest at one of the chain motels in Kimberley, two victims were found in his room.
The victims, a 17-year-old teenage girl and a 29-year-old woman informed the police that they had been trafficked from the city of Johannesburg in Gauteng to the city of Kimberley in the Northern Cape.
That they had been locked in the hotel room and prostituted as sex workers by the accused. The police also found illegal drugs in the room belonging to the accused during their search.
During his bail application, the court heard that the accused who is from Nigeria, does not have legal papers to be in South Africa as his permit expired in 2018. That he did not have a fixed address where he could be located and that he could be a flight risk.
The court also heard how the victims were lured by the accused and trafficked and exploited for sex work from one place to another. The case has been postponed to 30 January 2024, and the accused will be remanded in custody until his next court appearance.
Investigations led by the Directorate Priority Crime Investigation (DPCI) are continuing in this matter. The National Prosecuting Authority welcomes this decision by the Kimberley District Court to deny the accused bail as the country continues to celebrate 16 Days of Activism.
Issued by:
Mojalefa Senokoatsane
NPA Regional Spokesperson
Northern Cape Divisio
The Edo State Labour Party Governorship aspirant, Kenneth Imansuangbon has urged party faithful in the state to not give tickets to political neophytes.
He stated this at the LP secretariat in Igarra, Akoko-Edo Local Government of Edo State on Thursday during a visit to the party’s executive members to interact with them on his intention to run for the 2024 governorship election.
He said, “If given the mandate to fly the party’s flag and elected as governor, my administration will address the dearth in infrastructure and open up Akoko-Edo to massive investment and development.
“You cannot compare me with Olumide or Dorry. They are newbies in politics. Don’t make the mistake of giving your votes to unpopular candidates. We need an experienced and popular candidate who can take on the APC and the PDP.”
He lamented that his attempts to govern Edo State were frustrated by political godfathers and enemies, who have continued to hold the state by its jugular and appealed for support to emerge the candidate of the party.
Meanwhile, a former Commissioner for Information in Edo State, Kassim Afegbua, on Friday, declared his intention to run for governorship under the All Progressives Congress, noting that there has never been a zoning arrangement in the state.
Afegbua said that those clamouring for zoning were missing the point and the whole essence of democracy.
He said, “There has never been zoning of governorship positions in Edo State. Anybody who is saying that there is zoning will be missing the point altogether.
“In 2007, Adams Oshiomhole contested for the governorship position and he brought his popularity as the National President of the NLC to Edo State. He contested on the platform of AC which later became ACN and later APC and won against the PDP.
“Then the state had four ministers from Edo Central and also, Prof Osunbor, who was governor then, and nobody zoned anything to anybody. From then to now, every primary conducted by PDP or APC has been contested by candidates from the three zones,” he added.
Afegbua, who is from Edo North, said he was offering himself for service as Edo people are presently disoriented by the politics of pretence and high-handedness occasioned by the needless squabbles and altercations among the leaders of the ruling party in the state.
He also said that the state is begging for attention over decaying Infrastructure.
[Punch]
Nollywood actress Ann Njemanzehas has taken a deep breath from life challenges, and has every reason to be grateful to her maker for helping her to pull through despite her shortcomings.
In her Instagram posts these days, Domitilla as she’s fondly called by her fans and colleagues, poured her heart out, while taking a critical look at her life journey.
She said she had overcome everything that almost ruined her life and career. According to her, “my heart is at peace as God has saved me from the spirit of anger, self abuse, and madness.”
She wrote” “What doesn’t kill you makes you stronger. I came back from everything that attempted to kill me: a grandmother that lived with bitter, jealous relatives, wrong relationships, wrong marriages (2) if the second one can be called marriage and the first being the worst mistake in my life.
“Yet thanking God to letting me see that to get a blessing, a disturbed mind, some nasty friends, an almost dead career, a pocket always dry, always sad but today, November 2023, another Christ the King month, I come again to give Jesus praise for bringing out beautiful testimonies from all the trials.”
Ann said despite her stubbornness, her parents and siblings were there for her while she was through the ordeal. “Today I can see everything turning around for my good,’ Ann asserted.
Recall that Ann Njemanze was once married to actor Segun Arinze, a former President of Actors Guild of Nigeria, AGN. The marriage which produced a beautiful daughter, Renny Morenike hit the rocks after a while. The actress later remarried in 2023. But like the first marriage, her second marriage also hit the rocks forcing Ann Njemanze to go underground.
[Vanguard]
Veteran Nigerian singer Chibuzor Orji, popularly known as Faze, recently opened up about his personal choices that set him apart from many others in the entertainment industry.
The ex-member of the defunct Plantation boiz disclosed that he has never smoked cigarettes, consumed alcohol, or used illegal drugs.
The 46-year-old attributed his vocal longevity and overall physical health to leading a balanced lifestyle.
In order to stay healthy, he claimed to drink a lot of water.
The singer added in a recent interview that musicians are no longer concerned with writing catchy lyrics since people are more interested in dancing.
In an interview with TVC, Faze stated :
“I don’t do anything special to maintain my voice. I think it has to do with my lifestyle. I don’t take drugs and I’ve never drank alcohol or smoked in my life.
“It has to do with health too. I’m the kind of person that likes to check up on my health.”
In 2021, Faze lost his twin sister two days to birthday
Artiste and entrepreneur, Chibuzor Oji, popularly known as Faze is bereaved over the untimely death of his twin sister, Ifeyinwa Asia who died on Monday.
Faze disclosed this via a post he shared on his social media handle. He revealed that she died 48 hours to their birthday.
“It’s a sad day. My Twin sister has left me just two days to our birthday”, he wrote
“We the Oji family take strength in knowing that she’ll never have to deal with this world’s problems anymore. We know she’s in a better place now.”
Faze was a member of the Plantashun Boyz, along with Blackface and TuFace.
The trio went separate ways in 2004 to pursue solo careers
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Gospel singer, Nathaniel Bassey recently called the attention of Frank Edwards to marriage.
This comes after the ‘Omenma’ hitmaker took to his Instagram page to share a vlog post about his trip to Abuja from Lagos.
The gospel artiste began the video by capturing his moment at home up to the moment he exited his house into a car that drove him to the airport.
Unfortunately, a flight delay occurred; a journey scheduled to commence by 8am was shifted to 9am which made him opt for shopping some perfumes while waiting for the takeoff time.
Taking to the comment section of the post, Nathaniel Bassey reminded Frank Edwards about marriage by telling him that his house needed a ‘Mrs’.
In his words: “By the way, this home needs a MRS…”
Reacting to the comment, Frank Edwards confirmed and agreed with Nathaniel Bassey’s observation.
He wrote: “Mog you have sparked oh and there will be a MRS!!.”
Other exchanges also followed suit.
See screenshot below:
Watch the video that triggered the comment from Nathaniel below:
View this post on Instagram
Two men, Isah Haruna and Ibrahim Sani, have been sentenced to life imprisonment for sodomising seven boys in Jigawa State.
The Jigawa State High Court sitting in Dutse presided over by Justice Muhammad Abubakar Sambo, sentenced Haruna to life imprisonment for sodomising a 14-year-old boy.
The convict was arraigned on May 2, 2023, on a charge of rape contrary to Section 3 of the Violence Against Persons Prohibition (VAPP) Law 2021 of Jigawa State.
The facts of the case were that on 10th June 2022, the convict lured the 14-year boy to a shopping plaza at Gwaram Sabuwa, Gwaram Local Government Area of Jigawa, where he had anal intercourse with him against the order of nature.
The prosecution counsel, Sunusi Sani, called five witnesses and tendered exhibits against the defendant, while the defendant testified in his defence.
The presiding judge held that the prosecution had proved all the ingredients of the offence of sodomy against the defendant, thereby convicting and sentencing Isa Haruna to life imprisonment
In another verdict, the High Court No. 6, sitting at Birnin Kudu presided over by Justice Musa Ubale, convicted and sentenced one Ibrahim Sani of Kiyako Village, Birnin Kudu Local Government, to life imprisonment for sodomising six boys.
The convict was arraigned before the court on six counts charges of sodomy.
He was alleged to have sodomised six boys aged between 11 to 16 years, by having unlawful anal intercourse with them against the order of nature. The offence was contrary to section 284 (1) of the Penal Code (Miscellaneous Amendments) Law No. 09, 2014.
The prosecution counsel, Yahaya Abdullahi, in proving the case against the defendant, called seven witnesses, tendered four exhibits and finally closed his case while the defendant testified in his defence.
Justice Musa Ubale while delivering the judgment, held that the prosecution had proved its case beyond a reasonable doubt and sentenced Ibrahim Sani to life imprisonment.
Kano state government has announced that out of the 138,430 tested for HIV, 4,728 have been found to be positive from January 2023 to date.
With this figure, it indicates that a total of 46,732 persons are living with the disease and receiving treatment in the state.
The state Commissioner for Health, Dr. Abubakar Labaran, made this known on Friday while delivering a speech at the commemoration of this year’s World AIDS Day in Kano.
He, however, disclosed that the state has improved its strategies to halt mother-to-child transmission of HIV/AIDS by successfully conducting tests for 95 percent of all pregnant women during their first ANC visit, out of which only 0.04 percent are found positive.
He stated, “We have tested a total of 138,430 people for HIV and found 4,728 positive and have successfully initiated new 4,140 HIV-infected persons on ART from January 2023 to date.”
He noted that “Currently, the state has 46,732 people living with HIV receiving treatment.
“We have improved our strategies to halt mother-to-child transmission of HIV/AIDS by successfully conducting HIV testing for 95 percent of all pregnant women during their first ANC visit, out of which only 0.04 percent turned HIV positive,” the Commissioner stated.
Dr. Ladan further explained efforts by the state in managing the situation where he said, for the first time, the state has achieved a state HIV budget target of 3 percent, N2 billion, of the total health budget in the proposed budget submitted to the Kano state Assembly.
The event themed “Let Communities Lead” was in collaboration with the USAID in Kano as well as other partners.
He said that the state government appreciated the support of partners like USAID, LHSS, NEPWHAN, and KanSLAM for their advocacy engagements towards achieving the KSACA’s budget.
Earlier, the Director-General of the State Agency for the Control of AIDS (SACA), Dr. Usman Bashir, said SACA has brought on board 600 persons living with AIDS to benefit from the free healthcare service package introduced by the state government.
Dr. Bashir then hinted that “Most of the beneficiaries are children of those who died of HIV, as well as those children living with the disease.”
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Nigeria Police Force (NPF) have cleared a Nigerian singer, Dapo Oyebanjo, popularly known as D’banj, of fraud and rape allegations.
Naija News learned that the anti-graft agency and the police cleared D”banj of N-power fraud and rape allegations in different clearance reports upon completion of investigations.
According to The Punch, an affidavit deposed by Toheeb Lawal of an Abuja-based law firm, Law Corridor, before the District Court of Abuja shows that the Nigerian singer is free from any allegation.
The newspaper said in the reports of the Nigeria Police Force Investigation and clearance from the ICPC were marked exhibits A and B, the legal practitioner averred that the police and the ICPC cleared the singer of rape and fraud allegations.
Recall that in 2020, the singer was accused of rape, and then Inspector General of Police, Usman Alkali Baba, ordered an investigation into the allegation.
In a report dated November 14, 2023, with case number CR:3000/X/FHQ/ABJ/SEB/T.1/VOL 18/284 and signed by ACP YY Abubakar of the Special Enquiry Bureau at the Force Criminal Investigations Department at the Force Headquarters in Abuja, the police said the matter was investigated but there was no evidence to substantiate the claim.
The police report read in part: “The allegation was investigated. The complainant, witnesses, and suspects made their statements.
“The investigation was extended to the Glee Hotel Lagos, where the staff on duty on the date of the alleged incident made their statement.
“The management and staff of the Glee Hotel averred that the first suspect was not seen in the hotel on the date of the alleged incident, nor was he given a spare key to gain access to any room in the hotel where the complainant lodged, and they have only one key to each room, which completely debunked the allegation of the complainant.
“The management of the hotel also held that it had no record to show that the complainant checked into the hotel as a guest on the alleged date, and she did not, at any time, raise the alarm, complain, or report any indecent assault or rape.
“There is no medical report on the victim to ascertain that she was raped. There are no adduced facts or corroborative evidence to substantiate the allegation of rape against the suspect. Prima facie offences of indecent assault, rape, and intimidation are not made out.
“However, the complainant, through her counsel, Ojoge, Omileye & Partners, submitted a letter, dated July 17, 2020, to the DIG Force CID, to withdraw the petition and discontinue the investigation voluntarily.”
Also, in 2022, the ICPC accused D’banj of diverting funds associated with the N-Power Programme of the Federal Government.
However, after its investigation, the ICPC said that D’banj was not guilty of any fraud allegation and cleared D’banj of any infraction on the matter.
The clarification was dated November 29, 2023, with document number ICPC/OPS/SDD/SPT.LG/31/23.
The clearance reads: “The commission investigated issues of fraud in the administration of the N-POWER Scheme, where Mr Daniel Oladapo Oyebanjo’s name came up. However, there was no prima facie case of fraud against him.
“Kindly be advised that Mr Daniel Oladapo Oyebanjo is not under investigation with the Commission for any fraud-related offence.”
D’banj’s lawyer, in his deposition filed before the Chief District Court of the Federal Capital Territory at Wuse Zone 2, Abuja, also averred that the singer was never a government official.
He added that his client never had any access to government funds and that the N-power campaign he supported was free and was never paid a penny by anyone or the government.