Deputy Speaker of the House of Representatives, Hon. Benjamin Okezie Kalu, on Monday, urged Vice Chancellors of various Universities in Nigeria to leverage the contributions of the alumni association and other endowment funds to finance education.
Hon. Kalu gave the charge while delivering his goodwill message at the opening ceremony of the 61st anniversary and 36th Conference of the Committee of Vice-Chancellors of Nigerian Universities (CVCNU) themed: ’60 years of Leadership in Nigerian Universities’, held at Baze University, Abuja.
He said: “One of the key areas where Nigerian universities can chart a new course for sustainable development is in innovative funding models. I am particularly encouraged by the efforts to leverage the vast network of alumni and the Triple-Helix model, involving collaboration with industries and the government.
“This approach aligns with global best practices seen in countries such as the United States, the United Kingdom, and Australia, where endowment funds managed by capital market fund managers and venture capitalists have played a pivotal role in financing higher education.
“It is my sincere hope that these innovative funding models will provide the financial stability needed to propel our universities to even greater heights.
“As we explore these avenues, let us remember that the pursuit of knowledge and the advancement of education are noble endeavors worthy of our collective support.
“The first, second, and third generation publicly owned higher education institutions have an upper hand if they follow this approach, solely by looking at their respective extensive Alumni for initial deals structuring and set up of the endowment funds”.
While applauding the Committee of Vice Chancellors for its higher education leadership programme on strategic thinking for managing challenging times and creative financing of the universities and other tertiary institutions, he observed that: “Such initiatives are essential in equipping our academic leaders with the skills and strategies needed to navigate the complex landscape of higher education in the 21st century.
“Government is not left out in this regard especially the respective state governments in the country. It is imperative for them to play a contributory role and follow it up with the creation of an enabling environment for the higher education institutions in their states to able to attract alternative sources of funding to continue to run and thrive,” he said.
Pledging the partnership of the Parliament with the universities and other stakeholders in the education sector, Hon. Kalu urged the Committee to also address the issues of gender equity, equality, diversity, and inclusion while also considering the role of technology and the impact of Artificial Intelligence (AI) on the future of Nigerian education.
[Nigerian Tribune]
No fewer than 310 Lagos State citizens who went on a pilgrimage to Jerusalem have been airlifted home after Palestinian militant group Hamas’ Saturday morning surprise attack on Israel.
Sharing photos of the indigenes at baggage reclaim Tuesday, presumably upon their arrival, Governor Babajide Sanwo-Olu posted on X, “I’m happy to announce that we have successfully airlifted and returned all three hundred and ten (310) citizens who went on pilgrimage to Jerusalem, Israel.
“I want to thank you all for your concern and I must also express my joy to our Ministry of Home Affairs for a job well done. We pray for peace in Israel, and indeed the world at large.”
Good morning Lagos,
I’m happy to announce that we have successfully airlifted and returned all three hundred and ten (310) citizens who went on pilgrimage to Jerusalem, Israel.
I want to thank you all for your concern and I must also express my joy to our Ministry of Home… pic.twitter.com/1gOU3Jtr34
— Babajide Sanwo-Olu (@jidesanwoolu) October 10, 2023
Israel has been left reeling by Hamas’ unprecedented ground, air and sea assault, likening it to the September 11, 2001 attacks on the United States.
The death toll rose to more than 900 in Israel, which has retaliated with a withering barrage of strikes on Gaza, raising the death toll there to 687
The Nigerian government has since called for a ceasefire, saying the escalation between both countries would result in an unending cycle of pain and suffering for the civilian population, advising that both parties should exercise restraint and prioritise the safety of civilians.
[Channels TV]
Despite the sordid economic situation in the country and the appeal for the downward review of tariffs, aviation companies have continued to hike fees upward, thereby causing more pain for airport users.
The latest to join the fray is Bi-Courteny Aviation Services Limited (BASL), operators of Murtala Muhammed Airport Two (MMA2), Lagos, which on Tuesday, announced an increment in car park and lounge services at its terminal to as high as 33 per cent.
FAAN started an upward review of tariffs
By July this year, the Federal Airports Authority of Nigeria (FAAN), had increased the toll at the Lagos Airport by about 50 per cent.
FAAN had on July 1, 2023, increased fares paid by motorists plying the route from N200 to N300 for cars, Sports Utility Vehicles (SUVs) were made to pay N500 from N300, while trucks (six tyres) paid N1,000 from N500 and trailers’ fee (eight tyres upward) was reviewed from N1,000 to N2,000.
Also, within the period, FAAN had increased its annual registration from N80,000 to N85,000 and N100,000, depending on the vehicle.
At the Abuja airport, FAAN had in the same July, reviewed upward the toll fare.
According to the new tariff, cars now pay N300 from the previous N200, while SUVs are charged N500 from the previous N300.
Bi-Courtney Follows suit
A statement by BASL’s Head of Corporate Communications Department, Ajoke Yinka-Olawuyi on Tuesday, said that the new tariffs for car park and VIP Walk-in Lounge would commence on November 1, 2023.
Yinka-Olawuyi posited that the tariff upward review was in light of the new economic reality in the country.
She said that the decision had long been held down, in clear economic solidarity with the airport terminal users, despite its inevitability, until it became inevitable for smooth and excellent operational purposes.
The statement quoted Mr. Kola Bamigboye, Head of Spaces and Premises for BASL, as saying that the car park tariffs had been revised to align with its ongoing efforts to maintain and upgrade the facilities, ensuring a safe and convenient parking experience for its passengers.
Bamigboye posited that the new car park tariff structure would take into cognisance car park users who spend less than 30 minutes within its multi-storey car park facility, thereby making it more convenient for users.
33.3% increase on VIP Lounge
For the lounge access fee, Esther Ojeiwa, Supervisor-In-Charge of Lounge Services at MMA2, said the upward review of 33.3 per cent was necessary in order to maintain topnotch services at the lounge.
Ojeiwa stated that the MMA2 VIP walk-in lounge was accessible to travellers seeking comfort and convenience, as it provides a serene environment to relax and unwind before boarding and take off scheduled flights.
She added: “To further enhance the lounge experience, we have updated our lounge tariffs, offering even greater value for your money.”
The statement assured the public that the changes were essential to support ongoing improvements to its facilities, services, and overall passenger experience at MMA2.
[Nairametrics]
A Nigerian Army Special Court-martial sitting in Abuja on Tuesday found a former Group Managing Director, Nigerian Army Properties Limited, Maj.-Gen. Umar Mohammed, guilty of stealing some funds belonging to the organisation.
Daily Trust reports that Mohammed was tried on an 18-count charge bordering on forgery, misappropriation of funds, conspiracy among others.
The accused had, however, earlier pleaded not guilty to all the charges pressed against him.
But at the resumed sitting on Tuesday where the judgment was given, the eight-man panel led by Maj.-Gen. James Myam, stated that the convicted senior military officer was found guilty of 14 out of 18 charges.
Myam stated that count one was brought under section 383(1) of the Criminal Code Act Cap c38 law of the Federal Republic of Nigeria, and punishable under section 390 (7), adding the charge was also brought pursuant to section 114 of the armed forces Act Cap A20 2004.
The panel explained that the prosecution counsels called 24 witnesses, while the defendant called two witnesses.
The panel, thereafter, in its judgement ordered that the convicted senior officer be jailed for 5 years each for some of the offences while some others carried 7 and 2 years respectively.
While explaining that the sentences would run concurrently, the court also directed that he should refund some funds into the account of NAPL.
Myam explained that the sentences were subject to the confirmation of “confirming authority”.
Prior his sentencing, Mohammed had been in the detention facility of the Nigerian at Mogadishu cantonment, Abuja where he spent over 2 years.
[DailyTrust]
Manchester City boss, Pep Guardiola, has named Liverpool as his side’s biggest English rivals, snubbing last season’s title race rivals Arsenal.
According to Guardiola, the Reds will always be his biggest rival ahead of last season’s title race rivals Arsenal.
Speaking in a recent interview with Sky Sports, Guardiola said: “When I finish my career in England, Liverpool will have been my rival, our rival. Always.”
When asked where Arsenal fit in the rankings, the Spaniard continued: “Now, they will start to be there, and last season. But before, they were not there, to win the FA Cups, the title.
“They did not play in the Champions League. It’s the first season they are playing now in many, many years.
“So the [main] rivals have been Liverpool. But now, they [Arsenal] have knocked on the door and they are here and they arrived to stay, and Newcastle, and other teams.”
[DailyPost]
The International Monetary Fund (IMF) on Tuesday, October 10, said economic reforms started by President Bola Tinubu, would trigger stronger and inclusive growth for the economy.
Speaking during the presentation of World Economic Outlook at the ongoing IMF/World Bank Annual Meetings in Marrakech, Morocco, the Economic Counsellor and the Director of Research of the IMF, Pierre-Olivier Gourinchas lauded the speed at which President Tinubu instituted important reforms on unified exchange rates and removal of subsidy on petrol.
He said the move would accelerate Nigeria’s economic growth projected by the Fund from 3.3 per cent this year to 2.9 per cent next year, and 3.1 per cent in 2024.
He said: “There is a downward revision for this year, partly this is because of the demonetization, the high inflation, the shocks to agriculture and hydrocarbon output. That is coming on top of all those external headwinds.
Mission Chief at IMF, Daniel Leigh, said that President Tinubu has moved quickly with important reforms including ending the fuel subsidies and unifying the official exchange rates.
He said: “We welcome these initial bold reforms because we see them as paving the way towards stronger and inclusive growth.”
On Sub-Saharan Africa (SSA), he said: “On SSA there is a slight downward revision for the region as a whole we are expecting growth at about 3.3 per cent this year and that’s about 0.2 percentage points downward revision, there is a slight downward revision for next year to about four per cent.
“For SSA we have growth bothering out in 2023 and coming back up in 2024 inflation is peaking but it is still in double digits for more than 40 percent of the economies, we see African growth at 3.34 per cent and that is above average but it is below the potential that Africa has and it needs to catch up more quickly.”
“The shocks ridden growth are diverse but there are several external ones coming from the higher food and fertilizer prices from the war in Ukraine the funding squeeze, harder to get capital and still very high spreads for several economies and exchange rate pressures.”
He said the global economy continues to recover from the pandemic, Russia’s invasion of Ukraine and the cost-of-living crisis. In retrospect, the resilience has been remarkable.
The global economy is limping along, not sprinting,” he said.
Gourinchas said the latest projections showed that the world economic growth will slow from 3.5 per cent in 2022 to three per cent this year and 2.9 per cent next year, a 0.1 percentage point downgrade for 2024 from July. This remains well below the historical average.
He said headline inflation continues to decelerate, from 9.2 percent in 2022 on a year-over-year basis, to 5.9 percent this year and 4.8 percent in 2024.
Gourinchas said: “Core inflation, which excludes food and energy prices, is also projected to decline, albeit more gradually, to 4.5 percent next year. Most countries aren’t likely to return inflation to the target until 2025.
“As a result, projections are increasingly consistent with a soft landing scenario, bringing inflation down without a major downturn in activity, especially in the United States, where our forecast increase in unemployment is now modest, from 3.6 percent to 3.9 percent by 2025.”
Gourinchas said fiscal buffers have eroded in many countries, with elevated debt levels, rising funding costs, slowing growth, and an increasing mismatch between the growing demands on the state and available fiscal resources. This leaves many countries more vulnerable to crises and demands a renewed focus on managing fiscal risks.
[Nation]
A petrol-loaded tanker fell around Stadium Bridge, inward Ojuelegba Surulere in Lagos state on Tuesday
This was disclosed in a statement made available to PUNCH Metro by the Public Relations Officer, Lagos State Traffic Management Authority, Adebayo Taofiq.
According to the statement, the accident occurred as a result of brake failure on the part of the truck.
The statement partly reads “Operatives of the Lagos State Traffic Management Authority and other emergency responders today prevented another petroleum fire explosion on top of Stadium Bridge inward Barracks/Ojuelegba on Funsho Williams Avenue, Surulere, Lagos.
He noted that relevant agencies which include the LASEMA Response Unit and the Lagos State Fire were immediately called to the accident scene to prevent a fire explosion.
The driver, Sefiyu Adamu was arrested and handed over to the Police for further investigation.
“Mr. Adebayo confirmed that in order to prevent another imminent fire explosion, LASTMA Officials as first emergency responders after arriving at the scene immediately called other emergency responders particularly the Lasema Response Unit and the Lagos State Fire and Rescue Services.
“Traffic Officer Olukoga Olajide who led LASTMA rescue operations to the scene confirmed that the driver of the falling Coniol tanker, Sefiyu Adamu, was arrested and handed over to the Police for further investigation.
“You will recall that the Lagos State Government restricted trucks including petroleum tanker drivers from plying the Ojuelegba, Stadium and Dorma-long bridges to forestall further accidents on the bridge.
“You will recall that the Lagos State Government restricted trucks including petroleum tanker drivers from plying the Ojuelegba, Stadium and Dorma-long bridges to forestall further accidents on the bridge.”
[Punch]
The National Examinations Council (NECO) has released the results of the 2023 Internal Senior Secondary School Certificate Examination (SSCE) with a record of 61.60 percent of candidates scoring five credits and above including English and Mathematics.
The examination council disclosed that 93 schools were found to be involved in whole-school (mass) cheating while 52 Supervisors were recommended for blacklisting due to poor supervision, aiding, and abetting during the examinations.
The Registrar and Chief Executive Officer, Professor Dantani Ibrahim Wushishi disclosed this while announcing the release of the results of the Examination.
Wushishi said that the erring schools will be invited to the Council for discussion after which appropriate sanctions will be applied.
He said that 1,196,985 candidates representing 616,398 males and 580,587 females sat for the examinations adding that 1,543 candidates with special needs also sat for the examinations.
Wushishi noted: “Number of candidates with Special Needs is 1,542 which includes 913 candidates with hearing impairment, 162 candidates with visual impairment, 103 candidates with Albanism, 61 candidates with Autism, 149 candidates with low vision, and 154 candidates with Adermatoglyphia which are candidates with no fingerprints.
“737,308 representing 61.60 percent Candidates passed with five Credits and above, 1,013,611 representing 84.68 percent candidates had five Credits irrespective of English and Mathematics.”
[Vanguard]
Liberians Joyously Queue Up To Elect New President, As ECOWAS, AU, EU And Other Int’l Observers Give Hope
AdminAs early as 4am local time on Tuesday, October 10, 2023 eligible voters including first time voters woke up from their beds to secure their respective spots in a queue in readiness to vote for the person of their choice including the presidency and members of both the houses of Senate and Representatives in this much anticipated elections.
In other to see for themselves and to also make sure that these elections are conducted freely with transparency, observers from Economic Community of West African States (ECOWAS), African Union (AU), European Union (EU), the United States (US) and other international organisations for transparent elections also toured many of the polling centers around the Liberian Capital, Monrovia to see for themselves effort being applied by Liberians for a peaceful election.
During the tour early this morning in central Monrovia, Professor Attahiru Muhammadu Jega, head of the ECOWAS delegation, and Abdel-Fatau Musah, Commissioner for Political Affairs, Peace and Security who led the team including Ambassador Josephine Nkrumah, ECOWAS Representative to Liberia during tour of various polling centers urged Liberians to be peaceful during these elections in the interest of their country.
Liberians themselves who stood in queue to vote for the person of their choice speaking to the GNN poured praises on the International Community including election observers from ECOWAS, AU, EU, and others international observers and monitors, and prayed that these elections will bring a new breed of leaders who will make the difference.
According to today’s protocol, the team is expected to visit the polling center where the incumbent President, George Manneh Weah is expected to cast his vote.
[gnnliberia]
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[PRESS RELEASE] A Call on President Bola Tinubu to Assent To The Peace Corps Bill - Deji Adeyanju
AdminI am using this medium to respectfully call on President Bola Tinubu to assent to the Peace Corps Bill recently passed by the National Assembly. It will be recalled that the Peace Corp Bills suffered a chequered history during the tenure of former president Muhammadu Buhari who ultimately declined to assent to the bill, despite being passed several times by the National Assembly.
Sir, the Peace Corp Bill is an important bill in the life of our nation and ought to be passed. At a time when our country is ravaged by insecurity arising from decades old fault lines, a peace corps aimed at orienting and educating the youths on the importance of embracing peace, cannot be overemphasised.
The argument of overriding security functions with existing security agencies, and overburdened running cost put forward by opponents of the bill every time it came up for presidential assent, can no longer hold weight in the present circumstances, and any such considerations, even if it were to be real, pans out when placed side by side with the benefits that the bill confers on the peace and unity of our nation.
All over the world, the Peace Corps contribute greatly to the peace, security and national values of any nation where there are domiciled. Nigeria should not be an exception. It is for these reasons that I urge you, Mr. President, to consider the great benefits of the Peace Corps bill and assent to it.
Justice Donatus Okorowo of the Federal High Court, Abuja, in a judgement delivered on Monday, disqualified the Bayelsa All Progressives Congress (APC) candidate in the November 11 governorship election, Chief Timipre Sylva.
Justice Okorowo ruled that Chief Sylva having been sworn in twice and ruled for five years as governor of Bayelsa would breach the 1999 constitution as amended if allowed to contest again.
The judge also declared that Sylva was not qualified to run in the November poll because if he wins and is sworn in, he would spend more than eight years in office as governor of the state.
Citing the case of Marwa vs Nyako at the Supreme Court, Okorowo noted that the drafters of the country’s constitution stated that nobody should be voted for as governor more than two times and that the parties to the suit agreed that Sylva was voted into office two times.
He further stated that the Supreme Court ruled in the case of Marwa vs Nyako that nobody can expand the constitution or its scope. So, if Sylva is allowed to contest the next election, it means a person can contest as many times as he wishes.
The group chief executive officer of the Nigerian National Petroleum Corporation (NNPC) Limited, Mele Kyari has emphatically stated that there is no subsidy on fuel in Nigeria.
He disclosed this to State House correspondents on Monday after a meeting with President Bola Tinubu at the Presidential Villa, Abuja.
This is as Kyari made a projection that Nigeria will start exporting refined petroleum products by 2024.
The NNPC boss made this declaration yesterday at the 2nd edition of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) Energy and Labour Summit (PEALS) in Abuja where he said that the country will soon be self-sufficient in product production.
Speaking on the theme, “Petroleum Downstream Deregulation and Utilisation for a Sustainable Energy Future in Nigeria”, Kyari also justified the federal government rationale for fuel subsidy removal, adding that without the move the NNPCL would have gone bankrupt.
He said that Nigeria needs to have sustainable energy that is anchored on the resources that are available and a replacement for biomass.
Kyari also advocated for a shift in the transportation system towards other energy sources, particularly for mass transportation which according to him, means Nigeria must do everything possible to bring to reality the current progress that is being made on CNG buses across the country.
“Today, we export 100 per cent of our production, no resource-dependent country does this and that is why we must deliver on our mandate .
So it will be done, and you will see. I don’t want to speak about it. We are tired of speaking about it. But what we must achieve is that this country must be the net exporter of petroleum products.
I strongly believe that in 2024, this country will become the net exporter of petroleum products. The meaning of this is that we will have sufficient volumes in-country, when refined locally, we do have advantages, creating wealth, creating taxes, and all forms of value, creating employment, and so on and so forth”, he said.
Recall that the National President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Festus Osifo, on Friday, said the government has restored subsidy on petrol, despite the official government policy of breaking with the subsidy regime since May.
However, Kyari explained that the occasional queues and lower fuel prices observed in some states were not indicative of a return to fuel subsidy.
He said the government was recovering its full costs from the imported products.
He said “no subsidy whatsoever. We are recovering our full cost from the products that we import. We sell to the market and we understand why the marketers are unable to import.
“We hope that they do it very quickly and these are some of the interventions the government is doing where there is no subsidy.
On fuel queues in some parts of the country , Kyari said these challenges were caused by blockades on roads connecting southern depots to the northern regions of the country, leading to delayed deliveries and temporary supply gaps.
He highlighted that full deregulation of the sector had led to healthy competition among marketers, resulting in reduced fuel prices at some stations.
He said this price competition had led to some customers flocking to stations with lower prices, potentially causing panic among those unaware of the market dynamics.
Kyari reassured the public that there is an ample supply of fuel, with over 1.4 billion litres of products available, both on land and in marine storage.
He also emphasised that there were no issues with the delivery of products.
Regarding foreign exchange issues, Kyari mentioned that the government was actively working to ensure a stable foreign exchange market.
He acknowledged that the current exchange rate of around N770 to the US dollar was part of the transition towards a more stable market, aligning prices of petroleum products with other commodities.
He said “we have seen in very few states pockets of very low queues. Not unconnected with the road situation that we’re seeing the number of blockades on our road crossing products from the southern depots into the northern part of the country and it takes them a much longer time than they do now.
“They have to reroute the trucks around many, many locations for them to be able to reach and that created delays and some supply gaps.
“But that has been filled and we do not see any of such problems again. And secondly, because of the full deregulation that we have in this sector, marketers are now competing amongst themselves.
“So you must have noticed some fuel stations will reduce prices by N2 and N3 so customers will naturally run to the places where you have that reduction in prices.
“And that creates panic, because for those who don’t know why they are doing it, they will think that there’s something wrong happening, or there’s an ominous sign of scarcity or people start queuing up in the fuel stations.
“Otherwise, there is no challenge. Supply is robust. We have over 1.4 billion litres of product in our hands both marine and land. Also there are no issues around delivery of those products into the land.
“So there is no fear, nothing to worry about. But we are also happy that the market forces are now playing out and marketers are competing and of course there are a few issues we’re engaging them to resolve alongside other agencies of government and critical issues around access to foreign exchange.
“And as you all know, the government is doing so much to ensure supply of FX into the market.
“We know that this FX market will stabilise and the current I&E window is around 770. And we know that with those inputs that’s already happening, the inputs of the government today will crystallise and also they will come to an equilibrium position in the FX market and this is a dream of this country.
“So they will have a stable FX market, a stable product market where the prices of products will also speak to prices of other commodities.
“And this is already manifesting and we think this is the economic revolution that this country needs,” he said .
Meanwhile, PENGASSAN national president, Comrade Festus Osifo called for a salary benchmark for oil and gas workers.
Speaking at the PEALS, yesterday, Osifo said the salary was necessary to align with the instrument of trade of the oil and gas commodity.
According to Osifo, the model practiced in Angola, where legislation pegs workers’ salaries in dollars and pays them the legal tender equivalent, is a testament to the possibilities of safeguarding the interests of workers amidst currency fluctuations.
He stresses that the recent floating of the naira by the federal government in the official market has exacerbated the challenges faced by oil and gas workers.
He emphasised that Nigeria must explore innovative solutions to forestall financial losses to workers and prevent undue gains to companies, ensuring a fair and equitable environment for all.
The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has severely criticised the European Union (EU) over its report on the Nigeria’s 2023 presidential election, saying the report did not give the true position of the last election held in the country.
Wike, who made his dissatisfaction known when the EU Ambassador to Nigeria, Samuela Isopi, paid him a visit in his office on Monday, said that the report created a wrong impression on the minds of the electorate especially in his native Rivers State.
The Minister said the EU was supposed to serve as an observer during the last elections and not to present a report that would not give the true picture of Nigerian democracy.
Recall that the European Union Election Observation Mission (EUEOM), through the chief observer, Barry Andre, had in June presented its final report on the 2023 general election, and highlighted six priority areas with recommendations.
Wike, however, said Nigerian laws can not be the same as those of the EU because they have different environments.
“I did not agree with the European Union over the last report on the elections in Nigeria. They are to observe. Nigerian laws can not be the same as EU laws because they have different environments.
“In Rivers State, the EU’s report was different from what transpired there. How can people who believe in democracy and practice it be portrayed as people who do not understand democracy?
“Our concern should be how to make the economy grow better, we have to cooperate and agree on specific areas of development in the Federal Capital Territory and the entire country. Foreign partners should be concerned with strategic development irrespective of the areas,” he said.
The European Union Ambassador to Nigeria, Samuela Isopi, while responding, said the report was put together by independent observers and has nothing to do with her operations.
She pledged the Union’s commitment to work with the Minister to boost development in the Federal Capital Territory (FCT) and beyond.