Cristiano Ronaldo said he might end his illustrious football career at Al Nassr, noting that the Saudi Pro League side will “probably” be his last club before retirement.
Recall that Cristiano Ronaldo made the move to Al Nassr in January 2023 after leaving Manchester United.
Earlier this summer, there were speculations that the 39-year-old Portugal international could retire at his childhood club, Sporting Lisbon, but with his latest assertion, that might not happen.
In an interview with Portuguese TV channel Now, Ronaldo said, “I don’t know if I will retire soon, in two or three years, but probably I will retire here at Al Nassr.
“I’m happy at this club; I feel good in this country, too. I’m happy to play in Saudi Arabia and I want to continue.”
Having netted 898 career goals, including 130 for Portugal, Ronaldo has expressed his desire to continue his international career, stressing that his involvement with the national team remains a priority.
“When I leave the national team, I won’t tell anyone in advance and it will be a very spontaneous decision on my part, but also a very well thought-out one,” he said.
“Right now what I want is to be able to help the national team in their upcoming matches.
“We have the Nations League ahead of us and I would really like to play.”
This means that Cristiano Ronaldo is expected to be invited to Portugal’s games against Croatia on September 5 and against Scotland on September 8.
Meanwhile, Cristiano Ronaldo is set to receive a special award from UEFA president Aleksander Ceferin in recognition of his remarkable feats in the Champions League.
With an impressive record of 140 goals in 183 appearances, the five-time Ballon d’Or winner holds the record of being the competition’s all-time leading goalscorer, surpassing notable talents like Lionel Messi and Robert Lewandowski.
Note that Ronaldo’s extensive trophy cabinet includes five Champions League titles, one with Manchester United and four with Real Madrid.
In Sararai village, Jigawar Tsada town, within Dutse Local Government Area of Jigawa State, a 40-year-old tea vendor named Abdulrashibu Ya’u reportedly beat a 20-year-old man, Hassan Garba, to death.
According to Daily Trust, the incident arose after Ya’u accused Garba of stealing bread, milk, noodles, and petrol.
Authorities were alerted, and a police team was dispatched to the scene. The suspect, Ya’u, was promptly arrested, while Garba was rushed to Rasheed Shekoni Teaching Hospital, where he was declared dead on arrival.
DSP Lawan Shiisu Adam, the Police Public Relations Officer in Jigawa, revealed that during interrogation at the State Criminal Investigation Department in Dutse, Ya’u confessed to the crime.
He claimed that Garba’s repeated thefts had driven him to anger, and despite informing Garba’s parents, no action was taken. In his frustration, Ya’u tied Garba with a rope and beat him with a stick, which ultimately resulted in Garba’s death.
Neighbors reported hearing Garba’s cries for help, but they were unable to intervene until the police arrived.
“Following a thorough investigation, Ya’u will be arraigned in court to face the full weight of the law,” the PPRO said
President Bola Tinubu who took over from former President, Muhammadu Buhari on May 29, 2023, has taken some hard decisions in line with its policies and programmes.
In his move to restructure the country, Tinubu has removed some principal officers who served under the Buhari administration.
Here is the list of some principal officers who have been sacked by President Tinubu:
– President Tinubu on the 9th of June, 2023 suspended the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.
– President Tinubu on the 14th of July, 2023 suspended the Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa.
– The President on the 19th of June sacked all the service chiefs appointed by Buhari.
– The National Security Adviser, Maj-Gen Babagana Monguno (rtd) was replaced with Nuhu Ribadu the same day President Tinubu sacked the service chiefs.
– President Tinubu also sacked the Executive Vice Chairman and Chief Executive Officer of the National Agency for Science and Engineering Infrastructure (NASENI), Bashir Gwandu.
– The President in August disbanded the board and management of the Niger Delta Development Commission (NDDC) led by Lauretta Onochie.
– President Tinubu in 2023 directed the Director-General/CEO of the National Identity Management Commission (NIMC), Engr. Aliyu Abubakar Aziz, to commence 90-day pre-retirement leave.
– President Tinubu on the 1st of September, 2023 sacked Ondo, Cross River NDDC Nominees, Make Fresh Appointments.
– President Tinubu sacked FIRS boss, Muhammad Nami, on Thursday, September 14, and his special adviser on revenue, Zacchaeus Adedeji, was subsequently appointed as the acting chairman of the tax commission.
– President Bola Tinubu, in October, announced the sacking of Chief Executive Officers (CEOs) of agencies under the Federal Ministry of Industry, Trade and Investment and among the affected agencies were the Corporate Affairs Commission (CAC).
– President Bola Tinubu, on the 13th of December, 2023 approved the suspension, removal, and replacement of the Chief Executive Officers (CEOs) under the Ministry of Aviation and Aerospace Development.
– President Tinubu, on the 8th of January, 2024, approved the immediate sack of Babatunde Irukera as the EVC/CEO, Federal Competition and Consumer Protection Commission (FCCPC).
– The President also approved the dismissal of Alexander Ayoola Okoh as the Director-General/CEO, Bureau of Public Enterprises (BPE).
– President Bola Tinubu, on the 15th of June, 2024 directed the resignation of Mr. Mamman Ahmadu from office as the Director-General/Chief Executive Officer of the Bureau of Public Procurement (BPP).
– Tinubu on the 15th of July, 2024 sacked Adekanmbi, and reinstated Prof Zabbey As HYPREP Coordinator.
– President Bola Tinubu, on the 26th of August, 2024 approved the appointment of new Directors-General of the National Intelligence Agency (NIA) and the Department of State Services (DSS).
– President Tinubu on 19th of August,
2024 dismissed Jalal Arabi from his position as Chairman of the National Hajj Commission of Nigeria (NAHCON) and has appointed Professor Abdullahi Saleh Usman as the new Executive Chairman of NAHCON.
Financial experts and economists have told President Bola Ahmed Tinubu that Nigeria’s 3.19 percent Gross Domestic Product growth rise in the second quarter of 2024 has failed to reflect on the living conditions of citizens.
This comes as the National Bureau of Statistics on Monday disclosed that the services sector pushed Nigeria’s economy to achieve two consecutive GDP growth of 3.19 percent in Q2 up from 2.98 percent recorded in the preceding quarter.
The GDP growth rate is higher than the 2.51 percent recorded in the corresponding quarter in 2023.
According to the NBS data, the industry and services sectors contributed more to the aggregate GDP in the second quarter of 2024 compared to the corresponding quarter of 2023.
Only the services sector contributed 58.76 percent to the total GDP.
A further analysis showed that while the non-oil sector contributed 94.30 percent in real terms to the Nation’s GDP, the oil sector was 5.70 percent in Q2 2024.
Meanwhile, despite the GDP growth, economists query why the two consecutive rises in economic activities have not impacted the living conditions of Nigerians.
This collaborates with the Director General of the World Trade Organization, WTO, and Nigeria’s former Finance Minister, Ngozi Okonjo-Iweala’s recent statement that the country’s economic fortunes recorded a reversal since 2014 with steady GDP growth decline.
Recall that NBS July’s data indicated that inflation slowed down to 33.40 percent from 34.19 percent in June 2024.
Meanwhile, prices of goods and services have remained high for the majority of Nigerians despite policy interventions by President Tinubu’s government.
Speaking with DAILY POST on Monday on the development, Prof Segun Ajibola, a renowned economist and former President and Chairman of the Council of Chartered Institute of Bankers said that Nigeria’s macroeconomics variables have yet to have the desired impact on the living conditions of Nigerians.
According to him, macroeconomic indicators such as GDP must touch the micro indices to change the narrative.
He urged that the government needed to gear towards transmitting the mechanisms between the macro level such as GDP and the micro level such as household income, and consumption.
He added that the country’s rate should be holistic and all-encompassing across the primary (such as agriculture, mining); secondary (manufacturing) and tertiary (services) sectors to have a balanced, fully integrated growth trajectory that can more easily translate to development.
“The truth however is that the macro variables may not have the desired impact on the living conditions of the people unless the macro performance is cascaded down to the populace, especially the masses that are eking out a living.
“The macro must touch the micro to change the narratives. It is the end that justifies the means.
“The improved growth rate is good news no doubt. As a country, we need to work on the transmission mechanisms between the macro level such as GDP and micro level such as household income and consumption, so as not to be entangled in the trap of growth without development, which is ravaging many developing nations.
“It is also important for growth to be driven across the primary (such as agriculture, mining); secondary (manufacturing) and tertiary (services) sectors to have a balanced, fully integrated growth trajectory that can more easily translate to development”, he told DAILY POST.
On his part, a financial analyst and the Chief Executive Officer of SD & D Capital Management, Gbolade Idakolo said that the latest GDP growth is not a pointer that the economy is out of the woods.
Idakolo stressed that the figure is at variance with reality.
In his words, “The economy, in reality, is shrinking and needs a drastic measure to bounce back”, he told DAILY POST.
“The NBS GDP is at variance with reality just like the inflation rate decline. The statistical data used by NBS does not take into cognizance the declining productivity in the economy.
“Most businesses are closing while some are downsizing or relocating because of the harsh economic environment.
“The CBN has continued to increase the interest rates while the Naira continues its downward slide against the US dollar.
“The government needs to rejuvenate the economy by implementing policies that would increase the capacity of SMEs, big businesses and the manufacturing sector.
“The single-digit interest rate loan facility promised by the Federal government should be jumpstarted, as well as the plans for the agricultural sector.
“The GDP figures are not a pointer that the economy is out of the woods. The government should be comparing NBS data with independent sources to have a fair idea of how the economy is performing”, he added.
Also, Prof Godwin Oyedokun, a don at Lead City University in Ibadan said the growth rate might differ across different regions of Nigeria.
“To gain a more comprehensive understanding of the factors driving the industrial sector’s growth, it would be helpful to analyze: Regional Variations: Growth rates might differ across different regions of Nigeria.
“Sector-Specific Data: A breakdown of growth rates within the industrial sector (e.g., manufacturing, construction, mining) would provide more insights.
“Business Surveys: Surveys of businesses in the industrial sector can reveal their experiences, challenges, and expectations.
“By conducting a more in-depth analysis, it would be possible to identify the specific factors contributing to the growth in the industrial sector and assess its sustainability in the face of ongoing challenges”, he told DAIlLY POST.
[DailyPost]
The Asset Management and Corporation of Nigeria has said Arik and Aero Contractors airlines may be merged and converted to a national carrier.
The AMCON Managing Director/Chief Executive Officer, Gbenga Alade, stated this on Monday at an interactive session with media executives in Lagos.
According to Alade, both Arik and Aero Contractor are owing so much money that they may not be able to pay.
He stated that the corporation presented the idea of converting Arik and Aero Contractor to the former aviation minister but it was rejected.
“The former management of AMCON presented the idea of converting Arik and Aero to a national carrier. But the former aviation minister did not buy the idea. We will present it again because that is the best option.
“Unfortunately, the special purpose vehicle that was created by the former management of AMCON for the conversion of Arik and Aero to a national carrier had been sold. But we can create another SPV this,” he explained.
Recall that the former Minister of Aviation, Hadi Sirika, launched the Nigeria Air three days before the end of former President Muhammadu Buhari’s administration.
The development had elicited concerns among stakeholders over the ownership arrangement which gave Ethiopian Airlines a 49 per cent equity stake in the company.
The Federal Government had a 5 per cent equity, while a consortium of three Nigerian investors had 46 per cent.
Reacting to the deal in June 2023, the House of Representatives asked the Federal Government to suspend the operations of Nigeria Air, describing it as a fraud.
In August 2023, the incumbent minister, Festus Keyamo announced that the national carrier project was suspended till further notice.
Keyamo said, “It remains suspended. It was never Air Nigeria. It was not Air Nigeria. That’s the truth. It was only painted Nigeria Air. It was Ethiopian Airlines trying to flag our flag.
“If it is so, why not allow our local plane to fly our flag? So nobody should dispute that it was Nigeria Air.
“Air Nigeria must be indigenous, must be wholly Nigerian, and must be for the full benefits of Nigeria, not that 50 per cent of the profit is for another country.”
Recently, a Federal High Court sitting in Lagos halted the sale of Nigeria Air to Ethiopian Airlines.
The court declared null and void, the sale of the shares of Nigeria Air to Ethiopian Airlines after determining the issues in the suit.
Justice Ambrose Lewis-Allagoa ordered that the Federal Government’s plans to establish a national carrier, Nigeria Air, should be halted.
The judgment was delivered in favour of the Registered Trustees of the Airline Operators of Nigeria and five other aviation industry stakeholders.
At the briefing on Monday, Alade said the present status of Arik and Aero Contractors had been giving him sleepless nights.
“Believe me, it is a very difficult problem to resolve, and it is giving me sleepless nights, particularly Arik.
“Arik is owing so much that they cannot pay,” he stated.
Speaking further, Alade said, “There is a way out. We have met all their major international creditors. Afreximbank is one of them. They (Arik) are owing Afreximbank about $52m.”
After negotiations, he said the airline was only willing to take $8.5m out of the $52m.
“However, where will that $8.5m come from? Where? AMCON doesn’t have money of his own to put there? And then they negotiated and said, okay, ‘let’s take some of the engines of those things away in full and final settlement’. And the truth is that, if they took those engines away, Arik is finished.
“But we said ‘no, we cannot allow you to take it away. Let AMCON give you a kind of bank guarantee. And we will stretch it so that three planes are flying now and by the Lord’s grace, by February next year, we want to make seven planes fly for Arik,” he stated.
The PUNCH recalls that the Nigerian Airspace Management Agency grounded aircraft owned by Arik over a court order instituted by the airline’s creditor and billionaire businessman, Arthur Eze.
Eze had approached the court in protest against his unpaid $2.5m by the founder of Arik Air, Johnson Arumemi-Ikhide.
In a statement by the spokesperson of NAMA, Abdullahi Musa, the agency said the development stemmed from an enforcement action by the FCT High Court on July 19, 2024, which involved attaching Arik’s planes to secure the debt.
In 2016, AMCON took over the management of Aero Contractors after it dissolved the board of the company, appointing a manager to run the affairs of the company in an interim capacity.
AMCON said in a statement by its media consultancy firm that the decision to take over the management of the company was in furtherance of its responsibility of acquiring eligible bank assets and putting them to economic use in a profitable manner.
Similarly, Arik Air, founded by Mr Arumemi Johnson, was taken over by AMCON in 2017 after the carrier’s management failed to honour its debt obligation running into several billions of naira.
AMCON had taken over debts from local banks owed by Arik.
Last year, the corporation asked the owners of Arik to present a credible debt resolution plan to the bad debts manager if it hopes to recover the company from the Federal Government.
AMCON’s asset recovery efforts
In a move to recover outstanding debts of nearly N5tn, Alade announced plans to engage international asset tracers to locate and recover assets hidden by recalcitrant debtors offshore including those masqueraded under special purpose vehicles.
Alade stated that since the new management took over about five months ago, they have successfully collected approximately N100bn from several high-profile debtors and revised the sale of some assets.
He emphasised that the organisation had been receiving strong support from President Bola Tinubu, the Central Bank Governor, the Federal Ministry of Finance, the Attorney General of the Federation, and the National Assembly in their efforts to recover debts transferred by banks to AMCON during the different phases of eligible bank asset acquisition.
The AMCON CEO mentioned that the chairman of the House Committee on Finance had pledged to name and shame obligors, who had yet to repay their debts at a major stakeholders’ conference that would be held before the end of the year.
He revealed plans to organise a conference where senior officials from the Central Bank of Nigeria, relevant ministries, banks, and the judiciary would be invited to discuss the challenges posed by non-performing loans in the country.
He expressed confidence that resolving issues surrounding assets in the oil and gas sector would boost production, generate more foreign exchange, and create employment opportunities for citizens.
He noted that the corporation had achieved remarkable results in two of those assets in less than five months.
In the power sector, he disclosed that AMCON had made significant progress in one of the biggest distribution companies and an abandoned power project in Kaduna.
Alade emphasised the potential impact of addressing power challenges in Nigeria, stating that some banks with approximately 400 branches across the country spend as much as N500bn annually on diesel for their generators.
He believed that tackling the power sector would significantly improve the overall business environment.
According to Alade, AMCON is also working on assets in the telecommunications sector, aiming to revive dormant assets and bring them back into operation.
[Punch]
Afeez Adedigba, the taxi driver who went viral for wearing his wife’s dress while operating a ‘Micra’ taxi in Ibadan, Oyo State, has revealed the reason behind his surprising choice of attire.
In a viral video, Adedigba was spotted driving while wearing his wife’s clothing.
In an interview with a media personality, Ayo Adams, on Monday, the driver explained that his clothes were soaked by the rain, so the quickest solution was to wear his wife’s dress, which was readily available.
He said, “This is not the only cloth of my wife that I have. They are about two. The first time I took the dress, it was raining heavily, and all my clothes were drenched. I had no choice but to take hers since I was still interested in working that day.
“So now, I wear the dress when it rains and put on mine when it stops. That’s why it is always in my vehicle.’
He revealed he was unfazed by passengers’ comments, adding that he was focused solely on earning money and delivering it to the vehicle’s owner.
“It has been quite an age I’ve been driving this micra. And I only seek God’s favour on the job. I moved to driving when I couldn’t raise funds to start the sales of tyres that I learnt at a tender age,” he said.
Adedigba also shared that he has one wife and four children, who motivate him to work hard to provide for their needs.
[Vanguard]
https://www.tiktok.com/@theayoadams/video/7407547331412888837
Media
@theayoadams This Ibadan Micra driver wore his wife’s dress to work, here is his reason. #ibadan #micra #voicesbyayoadams ♬ original sound - Ayo Adams
“ I’m gradually losing my life. I don’t even know how to call people for a job. Please, Nigerians, forgive me.”
It’s been four months since Nollywood star Junior Pope died in a boat mishap while shooting ‘The Other Side of Life,’ the ill-fated movie by burgeoning filmmaker Adanma Luke.
Expectedly, Ms Luke has experienced a series of life-altering incidents since the unfortunate incident, which claimed the lives of five persons on her movie set.
First, the Actors Guild of Nigeria (AGN) suspended her for breaching safety protocols. The police also launched an investigation while filmmakers and actors boycotted her productions.
Before the incident, the 34-year-old producer was known for producing movies such as Iga (Love in Chain) (2020), Narrow Affection (2023), and School Trouble (2014).
Ms Luke’s suspension, which was recently lifted, did little to ease the public outcry and grief. Things got heated on Monday when Ms Luke revealed that she was becoming mentally unstable and sought forgiveness from Nigerians
In an emotional Instagram live video on Monday, the Nollywood producer shared that she could no longer put on a brave face for those still mourning and appealed to Nigerians to consider her side of the situation.
“I don’t have much to say; I’m just here to say I’m sorry,” she said, visibly distressed. “I’m sorry, Nigerians. I’m sorry I took away your loved ones from what people are saying.
“I’m very sad. As much as I try to be strong, I still don’t see myself being strong. I’m so sad that this had to happen on my set. I’m so sad they had to work for me at that time. I’m not God.”
Destined to happen
The 34-year-old producer expressed her regret over the tragedy, explaining that the location had been frequently used for filming without any prior incidents.
“It has been destined to happen. It is meant to happen, but then why me? I never liked the internet or drama, but this puts me out there. A lot of people, a lot of people, have been dragging me. A lot of people have been calling that Adanma don’t talk, let this die down, don’t talk, but I go through a lot. I go through so much. I’m trying to heal, but it’s not coming back. We all love JP (Junior Pope). We all love other people who also lost their lives, my crew members.
“I didn’t do it on purpose. I have been filming at that location, that particular place, for a very long time. Why it had to happen to me is what I don’t know. Every morning, I see myself on the prayer altar asking God, why me? Why me? Why me? Please, Nigerians, I’m sorry—the whole world. We all love JP. We all love JP. I’m sorry.”
Boat plight
The Anambra-born actress recounted her experience on the set, noting that specific issues were overlooked despite her efforts to ensure safety.
She said: “I haven’t visited Asaba in the past two years until that incident. When I wanted to shoot that job, I asked for a better location, and they took me there. The first time I went there, I wondered what was up. Why are they not providing life jackets for us? We had to see the place before we went to the principal shooting.
“Then my PM (Production Manager) told me that ‘that is how they do it there and that a lot of people have been crossing, that nothing has happened, that they’ve been shooting there.’ I wasn’t the first person to shoot a movie there. They shoot there all the time. I wasn’t even filming in the water. It was a means of transportation to the place. It’s not like I did it on purpose. It wasn’t my duty, but I’m taking all the blame. I’m carrying all the crosses. But please, Nigerians, I’m sorry. It has happened.”
No vacation
Adding to the pressure, the embattled producer has had to defend herself against rumours suggesting she went on vacation after the tragedy.
This newspaper’s checks on Ms Luke’s Instagram posts from around the time of the incident reveal a series of comments from trolls discouraging her from moving forward with her life.
Despite not posting for a while after the incident, many have used the platform to blame her, demanding that she remain burdened by guilt over the tragedy.
Addressing the backlash, the Slayers Wears CEO said: “People are even saying I went on vacation. I’m here for business. I travel to help myself. I’ve been indoors, doing nothing, and yet still catering for the families that lost their loved ones.
“Where do you expect me to get all this money from? I need to work. I need to make money. My baby was not even up to three months when this thing happened. You all can’t even imagine what I went through. But please, Nigerians, forgive me. Forgive me. I know I can’t bring back the dead, but…I’m sorry, please.”
Despite offers from friends to take her on a break to regain her sanity, the producer admitted she’s unable to find peace. She said: “My friends are even telling me to come. Just come. Let’s take you on a vacation. Let’s go. But I couldn’t. I couldn’t because they wanted me to get my sanity back. They want me to be okay, but it’s not coming. I do not see myself doing all that.
“I’ve been doing this. I didn’t even know what depression was until this whole incident happened. I’m gradually losing my life. I’m regretting a lot of things. I don’t even know how to call people for a job. Please, Nigerians, forgive me. Forgive me for employing people for a job. I don’t know what to say, but I’m sorry. I’m sorry. I’m losing my life.
“I’ve done a lot that is not even there on the ground. I’ve done a lot that people don’t come out to say on social media. But once it comes to Ada, ‘Ada did this.’ They’ll want to kill me. I believe that if anything happens to me now, everybody will now rest.”
Background
PREMIUM TIMES reported that the tragic boat accident claimed Actor Junior Pope alongside four other crew members in the Anam River in Anambra on 10 April. Before Junior Pope’s death, he expressed concerns about the lack of life jackets during river crossing.
A preliminary report by the Nigerian Safety Investigation Bureau (NSIB) on 25 May revealed that the driver’s distraction caused the accident and that the boat was not certified by the National Inland Waterways Authority (NIWA).
In response to the incident, the Actors Guild halted movie shoots nationwide on 11 April and launched an investigation. The guild also introduced new safety standards in bylaws and lifted the temporary ban on riverine filming in July.
On 13 April, Adanma Luke said she was traumatised over the incident, revealing that she narrowly avoided being on the ill-fated boat due to a last-minute change in plans. She confirmed that while life jackets were available, Junior Pope refused to wear one because it was dirty.
Junior Pope was buried in his hometown of Ukehe, Enugu State, on 17 May, while other victims, including sound engineer Precious Ofurum and makeup artist Abigail Fredrick, were interred in Rivers and Akwa Ibom states, respectively.
[Premium Times]
Shafi’u Umar Tureta, an aide to Aminu Tambuwal, a senator, has been remanded in a correctional facility for allegedly insulting Ahmad Aliyu, governor of Sokoto, on Facebook.
Tureta was charged before a magistrate in Sokoto on Monday.
According to Premium Times, Fatima Hassan, the magistrate, barred journalists from covering the proceedings.
The police’s first information report (FIR) shows that the government charged Tureta with circulating injurious falsehood and engraving matter known to be defamatory, which was said to have contravened the Penal Code.
The aide was said to have committed the offences in July.
Tureta was also accused of sharing a document that purportedly showed that Aliyu scored F9 in English Language in the senior school certificate examination (SSCE).
The aide was also said to have posted a video showing the spraying of dollar notes during the birthday celebration of Fatima, the governor’s wife.
Tureta was also accused of sharing videos to mock the governor for not “being fluent in English”.
Tureta is the special assistant on local and digital media to Tambuwal.
Tambuwal served as governor of Sokoto from 2015 to 2023. The former governor is currently a senator representing Sokoto south.
THE ARREST
Armed security operatives reportedly invaded Tureta’s residence on Sunday to effect the arrest.
In a statement on Monday, Amnesty International Nigeria called for the “unconditional release” of the aide, adding that the arrest is “unacceptable”.
The human rights organisation said the Sokoto government intends to remand Tureta on “bogus” charges.
“This surge in human rights violations by the Sokoto state government is unacceptable and must end now,” Amnesty said.
“Instead of targeting critical voices, the government of Sokoto state must prioritise addressing poverty, out-of-school children littering the streets of Sokoto and ending rampant insecurity that had left eastern part of the state at the mercy of gunmen, with hundreds killed in Isa and Sabon Birnin LGA and thousands displaced.”
The Peoples Democratic Party (PDP) in Sokoto also condemned Tureta’s arrest, adding that it is not a crime to post public videos of a governor.
“We, first of all, wish to draw the attention of the Governor to the fact that the visuals in question must have been recorded by camera men attached to his own office or his family and initially leaked to the public by the same personnel,” Hassan Sahabi Sanyinnawal, Sokoto PDP spokesperson, said.
“It is also not a crime under Nigerian law to make public, videos of the Governor’s public engagements or of events attended by his family, however embarrassing they may be.
“It is therefore, his task or that of his aides to ensure that such materials do not get to the public arena.
“The PDP wishes to caution the Sokoto State Government of its fast worsening human rights record, occasioned by its notoriety for harassment and assault on dissenting opinion.
“We hereby, counsel Ahmed Aliyu to turn his energy towards improving on the dismal performance of his regime, rather than the desperate struggle to stifle freedom of expression in the state.”
[TheCable]
The Federal Government of Nigeria has selected 23 fund managers to oversee the $10 billion Nigeria Global Investment Fund (NGIF).
According to a presentation document seen by Nairametrics, this ambitious fund aims to attract both international and local capital into critical sectors of the Nigerian economy, including agriculture, manufacturing, energy, infrastructure, and fintech.
The NGIF, established by the Federal Ministry of Industry, Trade, and Investment, is a pivotal component of Nigeria’s industrial revitalization strategy, which seeks to transform the nation’s economic landscape by reducing its overreliance on oil revenues.
The fund is structured as an umbrella entity, housing multiple sub-funds, each dedicated to specific sectors critical to Nigeria’s development.
55 applications received for fund managers
The selection of fund managers followed a rigorous evaluation process overseen by the Securities Exchange Commission (SEC).
Out of 55 applications, 23 fund managers were chosen based on criteria such as their experience in managing public-sector partnerships, financial stability, international investment expertise, and adherence to Environmental, Social, and Governance (ESG) principles.
The fund managers include prominent names such as AFC, Coronation Asset Management, Stanbic IBTC, AIICO Capital, FBNQuest Asset Management, and more.
These fund managers will each oversee specific sub-funds within the NGIF, which has been structured to house 14 distinct sub-funds and 49 individual funds.
The 14 sub-funds under the NGIF will focus on the following priority sectors: Automotive/Light Manufacturing, Agriculture, Pharmaceuticals/Healthcare, Oil & Gas, Energy, Fintech/Banking, Heavy Industries, Real Estate, Mines/Solid Minerals, Creative Economy/Tourism, Aviation, Infrastructure, Education, and IT.
Each sub-fund is tasked with raising an average of $500 million, contributing to the overarching goal of raising $10 billion in the first phase of the NGIF.
The selected fund managers are aligned with these priority sectors based on their expertise and experience. For instance, Greenwich Asset Management, Coronation Asset Management, and Meristem Wealth Management are aligned with sectors such as Real Estate, while FBNQuest Asset Management and InfraCorp are focused on Infrastructure. Each fund manager will not only raise funds but also ensure that investments are strategically deployed to maximize impact across these sectors.
Support from Afreximbank
- In addition to selecting fund managers, the government has also secured significant backing from Development Finance Institutions (DFIs) such as the African Export-Import Bank (Afreximbank), which has committed a $3 billion country risk guarantee to de-risk the fund.
- There is an additional $2 billion earmarked for direct investments into key industries. This funding will support projects through mechanisms such as project finance, equity investments, risk insurance, and advisory support, further strengthening the NGIF’s capacity to drive economic transformation.
- The NGIF is poised to play a crucial role in bridging Nigeria’s significant infrastructure gap, estimated to require $14.2 billion in annual investment over the next decade.
- By mobilizing private capital, the fund will target sectors identified as having the highest potential for economic transformation and job creation.
- This fundraiser is part of a broader agenda to create a $1 trillion economy within the next ten years, as outlined in Nigeria’s Renewed Hope Agenda.
What you should know
- In April 2024, Nairametrics reported that the Federal Ministry of Industry, Trade and Investment (FMITI) invited eligible firms to indicate interest in providing services as Nigeria Diaspora Fund managers.
- This was based on an announcement made by Minister of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite, on her X account. ,
- According to the minister, these fund managers will be responsible for the development and establishment of a multi-sectoral, multilateral, private sector-led investment fund to form the $10 billion Nigeria Diaspora Fund.
- It was also reported that the ministry extended the deadline for companies interested in managing the $10 billion Diaspora Fund to apply. The deadline was moved from May 6 to May 13, 2024.
[Nairametrics]
Emerging details have shed light on the sudden removal of Yusuf Bichi, the Director-General of the Department of State Services (DSS).
According to sources who spoke with Guardian, President Bola Tinubu’s decision is rooted in his administration’s ongoing efforts to intensify the fight against terrorism and kidnapping across Nigeria.
Insiders revealed that Bichi’s dismissal was influenced by his alleged interference with National Security Adviser (NSA) Nuhu Ribadu’s strategy to stamp out terrorists.
Ribadu reportedly felt that Bichi was undermining his coordinating efforts to execute the President’s directives aimed at ridding the nation of security threats.
The source said, “Ribadu feels Bichi has been sabotaging his coordinating efforts to carry out the marching order given by the President to rid the country of terrorists and kidnappers.”
In a series of high-profile security reshuffles on Tuesday, Tinubu approved the appointment of Mohammed Mohammed as the new Director-General of the National Intelligence Agency (NIA), alongside Adeola Ajayi, who will now lead the DSS as Bichi’s replacement.
President Tinubu in a statement released through his Special Adviser on Media and Publicity, Ajuri Ngelale, announced the appointment.
The new DSS Director-General, Adeola Ajayi, rose through the ranks to attain his current post of Assistant Director-General of the Service. He had, at various times, served as State Director in Bauchi, Enugu, Bayelsa, Rivers, and Kogi.
[NaijaNews]
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Twenty one states of the federation are seeking loans amounting to N1.65 trillion to fund their 2024 budget deficits despite the increase in the allocations they have received from the Federation Account Allocation Committee (FAAC) in the last one year.
From June 2023 to June this year, all the 36 states and the 774 local governments received a total of N7.6 trillion from FAAC. This increase in revenue is largely due to the removal of petrol subsidy by the federal government on May 29, 2023.
Findings by Daily Trust show that the 36 states are projected to receive N5.54 trillion from FACC for this year as against the N3.3 trillion disbursed to them last year.
Under the current revenue-sharing formula, the federal government receives 52.68 percent; while states and local governments get 26.72 percent and 20.60 percent respectively. Such federation revenues, in addition to internally generated revenues of each tier, are expected to facilitate development across the three tiers of government, and also ensuring that the governments fulfill their financial obligations.
The FAAC allocations to local governments for June were paid directly to the state governments.
The Supreme Court had, on July 11, affirmed financial autonomy for the local governments. The apex court directed that the financial allocations meant for all the 774 local government areas in the country be paid to them directly. It said it is unconstitutional for state governments to keep and manage allocations on behalf of the local governments.
States’ borrowing patterns
Investigations by Daily Trust show that 21 states have expressed intentions to borrow a total sum of N1.650 trillion from both internal and external sources to fund their 2024 budget deficits.
Other states are yet to upload their borrowing plans.
According to details of the borrowing plans made public, the Adamawa State Government is to borrow N68.46 billion; Anambra N245 billion; Bauchi, N59.08 billion; Bayelsa, N64 billion; Benue, N34.69 billion; Borno, N41.71 billion; Ebonyi, N20.5 billion; Edo, N42.71 billion and Ekiti State, N27.15 billion.
Others are Jigawa, N1.78 billion; Kaduna, N150.1 billion, Kebbi, N36.7 billion; Katsina, N163.87 billion; Kogi, N37.08 billion; Kwara, N30.76 billion; Osun, N12.36 billion; Oyo, N133.4 billion; Nasarawa, N32.93 billion; Gombe, N73.75 billion; Enugu, N103 billion and Imo, N271.34 billion.
Breakdown of states’, LGAs allocations in 1yr
The monthly FAAC allocations to the 36 states and the 774 local governments from June last year to June this year stood at N7.6 trillion. This represents an increase of over 40 per cent.
In June 2023, states got N299.92 billion; local government councils (LGCs), N221.79. July: states, N310.670 billion, LGCs, N229. 409 billion. August: states, N319.52 billion; LGCs, N236.23 billion. September: states, N361.19 billion; LGCs, N266.54 billion. October: states, N287.07 billion; LGCs, N210.90 billion. November: states, N379.41 billion; LGCs, N278.04 billion. December: states, N396.693 billion and LGCs, N288.928 billion.
In January this year, state governments got N379.407 billion; LGCs, N278.041 billion. February: states, N366.95 billion; LGCs, N267.15 billion. March: states, N398.689 billion; LGCs, N288.688 billion. April: states, N403 billion; LGCs, N293 billion. May: states, N388.419 billion; LGCs, N282.476 billion. June: states, N461.979; LGCs, N337.019 billion.
Allocations from Value Added Tax also rose year-on-year by 228.8 percent to N2.42 trillion in the first five months of 2024, up from N736.06 billion in the first five months of 2023.
The 13 percent derivation fund received by oil producing states also rose by 234 percent to N519.83 billion in the first five months of 2024, up from N155.5 billion in the first five months of 2023.
20% of June allocation enough to build 320 PHCs
In June this year alone, the FAAC allocations to both states and local governments crossed the N1 trillion mark with N1.3 trillion.
If the standard of N500 million outlined by the World Health Oganisation (WHO) for establishment of an averagely equipped primary healthcare centre facility is anything to go by, 20 percent (N160 billion) of the June allocation is enough to put in place 320 of such health facilities nationwide.
There’s need for accountability – Experts
The Executive Director of the Centre for Fiscal Transparency and Public Integrity, Umar Yakubu, said there is a need for accountability regarding how the allocations to the states are being spent. In an interview with Daily Trust, Yakubu noted that the removal of the petrol subsidy has led to a significant increase in revenues, especially at the states and local governments.
He said: “The major issues is that governments think the more they make revenue, the more they solve problems because the accountability mechanism is so weak and the audit processes are not good enough to check excesses.
“So, what you have is more Naira into the system and the few who have access to them will convert them to dollars, which is the major reason our foreign exchange market has not stabilised because of too much Naira chasing few dollars.
[DailyTrust]
“Therefore, we call for accountability which has to be in place to check corruption because as you can see, more money has come, but no state is recruiting, no state is increasing pensions or allowances of workers or event increasing capital expenditures because they are just siphoning money without accountability”, he said.
Also speaking to Daily Trust, a development expert, Victor Agi, said if the issue of accountability at the sub-national level is not tackled head-on, the challenges at the grassroots would continue.
Agi said state governments must be accountable with the increased revenues to drive growth at the grassroots.
“One of the issues is that people always blame bad governance on the federal government, forgetting that governors also get huge allocations to develop their various states.
“In the last one year, revenues have grown by almost 50 per cent, yet the governors can’t improve welfare of their workers and the people in general. For instance, the president signed the national minimum wage of N70,000 and some of the governors are kicking that they can’t pay despite increase in revenues. This indicates that something is wrong.
“What is more disturbing is that the same issue will now be encountered in the local governments now that their allocations will be paid directly. There is need for more awareness from civil society to ensure that development at the grassroots is implemented now that revenues have increased,” he said.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, yesterday reaffirmed the Federal Government’s commitment to local economic development and agricultural resilience.
The minister spoke during his visit to Kebbi State on the efforts by the Bola Tinubu administration to reinforce economic partnerships and tackle the challenges posed by natural disasters, including floods.
A statement by the ministry’s Director of Information and Public Relations, Mohammed Manga, said Edun’s visit was meant to address the significant impact of flooding on agricultural productivity.
The minister restated President Tinubu’s unwavering dedication to fortifying local economies and addressing the pressing issues caused by natural disasters.
He emphasised the proactive measures the Federal Government had taken, especially those facilitated through the National Economic Council (NEC) and supported by Kebbi State Governor Nasir Idris.
The measures, Edun said, included the allocation of N3 billion each to the 36 states of the federation and the Federal Capital Territory (FCT).
The funds are intended to combat, mitigate, and prepare for the effects of flooding during this year’s rainy season, with a particular focus on supporting local farmers and protecting the agricultural sector.
Edun, who was accompanied by Governor Idris and the Minister of Budget and Economic Planning, Senator Atiku Bagudu, toured the WACOT Rice Limited’s facility in Argungu.
The state-of-the-art rice processing plant boasts an annual milling capacity of 120,000 metric tonnes and plays a critical role in supporting thousands of local farmers through its extensive procurement network and 8,000-strong out-grower farming programmes.
The facility is pivotal to bolstering local rice production and driving economic growth in the region.
The finance minister and his entourage also visited a rice farm facing the adverse effects of flooding, which poses a threat to agricultural productivity in Kebbi State.
Edun lauded the resilience of the local community and underscored President Tinubu’s dedication to improving security and boosting the productive capacity across the Northwest.
[TheNation]
The Presidency yesterday tackled former National Vice Chairman, Northwest, of ruling All Progressives Congress, APC, Salihu Lukman, over what he (Lukman) decsribed as growing deterioration of governance in the country, saying each successive administration had become progressively worse than its predecessor.
But the Presidency in a swift reaction, said it would not be distracted by comments by some persons on President Bola Tinubu’s administration, saying it was focused on governance.
However, Lukman said while President Muhammadu Buhari’s administration was worse than that of President Goodluck Jonathan, it was saddening that President Bola Tinubu administration was on track to becoming worse than that of Buhari.
He lamented that in spite of this, there was no structured engagements regarding 2027 among leading opposition leaders such as former Vice President Atiku Abubakar of Peoples Democratic Party, PDP; Mr Peter Obi of Labour Party, LP; and Engr. Rabiu Musa Kwankwaso of the New Nigeria Peoples Party, NNPP.
“It is not enough to complain that President Bola Tinubu is bad without corresponding initiative to ensure that 2027 results in the defeat of APC at all levels. If APC is defeated in 2027, what is the guarantee that the new government to emerge post-Tinubu will not be worse?
“As Nigerians, we are witnesses to how governments at all levels progressively become worse. With all the confidence many of us had in former President Muhammadu Buhari, arguably his performance failed to meet public expectations, perhaps worse than former President Goodluck Jonathan.
”Certainly, President Tinubu is on track to becoming worse than former President Buhari,” Lukman stated.
He said it had become necessary to draw the attention of opposition political leaders in the country that their current carefree or unserious disposition could produce the disastrous outcome whereby Nigerians might be unable to change the government of President Tinubu in 2027.
Lukman said though it was a shared concern among these leaders that the situation in the country has deteriorated and was still further deteriorating, there was hardly any definitive engagement with the clear objective of mobilising Nigerians to effect a change in 2027.
He stated: “Acknowledging that there are isolated ongoing discussions about what needs to be done in 2027, it is very worrisome that those discussions are yet to graduate to structured political engagements on the platforms of any of the existing opposition political parties.
“Unfortunately, if anything, it is almost a case that all the existing registered political parties are decidedly in support of President Tinubu and to that extent, therefore, working covertly for his second term victory in 2027.
”So far, arguably, none of the parties, which ordinarily should be leading the opposition to President Tinubu’s government is making any effort to recruit and unite opposition political leaders in the country.
”Instead, all the leading opposition political parties are embroiled in some embarrassing internal crisis, which has pitched leaders of the parties against each other.
“It is quite appalling, for instance, that PDP leaders are antagonistic to Alhaji Atiku Abubakar, Mr. Peter Obi is in the midst of a helpless survival leadership battle in LP and Sen. Rabiu Musa Kwankwaso is oversighting a directionless NNPP whose roof is being torn apart by no other than its own so-called leaders.”
”All the other parties, including SDP and PRP, have adopted a monarchical behaviour, sitting in their comfort zones waiting for disgruntled and aggrieved opposition political leaders to come to them for some ‘royal’ covers.
”Perhaps, it could also be a case of waiting to harvest good political businesses through dealmaking in 2027, which is the standard political practice in Nigeria since the commencement of the current Fourth Republic.
“All these have contributed to embolden President Bola Tinubu and his APC. Insensitive and reckless decisions, which further worsen citizens’ conditions of living are being taken on a daily basis.
”On a scale never imagined in the country, Nigerians across all divides are living in agony on account of harsh living realities created by avoidable circumstances due to reckless policy decisions of the government.
”With hardly any sense of humility or remorse, President Tinubu and people in government audaciously continue to ask Nigerians to be patient while the government continues to indulge in some illogical, luxurious public expenditure without recourse to due processes.
”Yet, all that opposition leaders could do is to issue individual press statements. This is quite unacceptable.”
Responding, the Presidency yesterday said it would not be distracted by Lukman’s comments.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, in a short message to Vanguard through a text message, said: “We are focused on governance. The results of our reforms will speak eloquently for us. We have no time for people whose pastime is denigrating the administration.”
[Vanguard]
Akeem Bello, the director of public health in Osun, says only two cases of mpox have been recorded in the state since January.
Speaking with NAN on Monday in Osogbo, the state capital, Bello said surveillance activities have been intensified.
“We have had only two cases this year, one in March and the latest in the last week of August,” he said.
“The new case was in Ilesa, and we promptly conducted contact tracing to determine if others had contracted the disease.”
He said the August patient was stable adding that the state government had activated an emergency operations centre (EOC) for mpox.
He said health workers are undergoing training and retraining to improve their ability to identify and manage the spread of mpox.
Bello added that weekly meetings would be held to review events, noting that residents are advised to prioritise personal hygiene.
“Although the m-pox vaccine is not readily available in Nigeria, the government has assured residents that they will receive it when it becomes available,” he said.
Bello reassured members of the public that the situation is under control.
In a separate statement, Jola Akintola, Osun commissioner for health, said a meeting of the mpox emergency operations centre (EOC) was held at the ministry of health in the state capital.
Akintola emphasised that mpox is a preventable disease and commended Ademola Adeleke, the state governor, for his proactive leadership and dedication to public health.
[TheCable]