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[OPINION] Trump reloading: Snow White and the seven dwarfs - Adekeye Adebajo
The impending return of Donald Trump to the White House – with an almost lily-white team of cabinet appointees – follows an overwhelming victory in which his Republican Party also won the Senate and the House, and represents one of the greatest political comebacks in history.
The twice-impeached Trump is the first convicted felon to become president having been found guilty of paying hush money to a porn star called Stormy Daniels.
Snow White
Trump is truly a phenomenon. He is, though, more like the wicked witch who has picked seven political dwarfs than Snow White. A billionaire businessman and reality show host who metamorphosed into a hate-spewing, white supremacist, nativist politician, he narrowly won the 2016 presidency.
Trump has now been able to convince a multi-racial working class and struggling middle-class majority to vote against their own interests through alchemic appeals to improving their economic condition by launching tariff wars (against China and the rest of the world) and deporting – at an initial estimated cost of $315 billion – most of the 13 million illegal immigrants in America.
Just as during Trump’s first chaotic presidency (2017-2020), these policies are likely to cause self-inflicted harm, massively increasing the $35.4 trillion national debt, resulting in widespread labour shortages (an estimated half of U.S. farm workers are illegal), and raising food prices for the bottom 80 per cent of Americans. During his first tenure, Trump enacted $1.5 trillion of tax cuts, mostly for the super-rich.
It is highly unlikely that any other Republican politician could have achieved this improbable victory. Ironically, the Latinos and blacks who voted for Trump in larger than expected numbers, have scarcely seen themselves represented in the incoming president’s ministerial nominees. Without Trump at the head of the ticket in 2028, Republicans may well struggle to mobilise a majority from the shrinking white population. The Grand Old Party’s Faustian bargain to sell its soul to the Devil, could ironically damage its long-term electoral prospects. America’s misogyny must also be probed, having rejected two flawless campaigns by the entitled Hillary Clinton and the joyful Kamala Harris.
While disgruntled voters may well have liked Harris’s optimistic message, they rejected the messenger. Paradoxically, while they accepted Trump as the messenger who best embodied their anger and frustration, they did not necessarily embrace his message. America’s liberal elite also has profound questions to answer, having clearly lost the country through what many Americans feel is a Wokeish abandonment of traditional values. The talking heads on CNN and MSNBC as well as the pundits in the New York Times and the Washington Post must finally realise that America has tuned out of their self-obsessed, rambling echo chamber, and that what is going on in their newsrooms and studios is totally detached from what is actually happening across the country. This election definitively showed that Beyoncé, Taylor Swift, and George Clooney may be talented artists, but have zero political clout.
The vengeful Trump has recently made cabinet appointments which suggest he has learned nothing from his first presidency. As he painfully discovered during his first term, running a government as complicated as America’s is not like running Facebook where you hire the best talent and get out of their way.
Trump recruited capable politicians, generals, and technocrats in his first term, but then fell out with many of them as they refused to enforce his sometimes autocratic whims, insisting on allegiance to the U.S. Constitution rather than to a mercurial King.
This time, he is picking adherents of his right-wing MAGA (Make America Great Again) gospel, shamelessly prioritising loyalty over competence. Many of these nominees, however, have little experience of heading large bureaucracies. We can therefore expect more scandals, sackings, and stepping downs.
Four flawed dwarfs
There has already been an early casualty among Trump’s four flawed political dwarfs: his controversial pick for Attorney-General, Matt Gaetz, a Congressman who survived charges of child-trafficking before a report of a Congressional investigation into alleged sexual misconduct with a 17-year old minor, drug use, and illegal acceptance of gifts was recently concluded.
Gaetz threatened to defund or close down the Justice Department and the Federal Bureau of Investigation (FBI). Deeply unpopular even among Republican legislators, he recently stepped down amidst much unease in the Senate which confirms cabinet appointments.
Defence Secretary nominee, Peter Hegseth, is singularly unqualified to lead the three million-strong $2 trillion a year department. A presenter on the right-wing Fox News, Hegseth is a neo-conservative who was “radicalised” by the September 2001 terrorist attacks on the U.S. into supporting crusading wars in Afghanistan and Iraq which he now considers to have been a $5 trillion exercise in profligacy. Hegseth has thus opposed American spending in Ukraine, and described NATO as “totally corrupted.”
Trump’s pick for Defence Secretary wears prominent tattoos associated with Islamophobic crusading white Christian neo-Nazis, and has threatened to fire wokeish generals who promote diversity and inclusion in the military. Hegseth has vociferously attacked women and “trans-lesbian” soldiers who have patriotically served their country. He has defended American soldiers accused of war crimes. He has compared anti-racist U.S. civil society groups like Black Lives Matter and Antifa to Islamic terrorists. His second wife divorced him after he impregnated a fellow Fox news producer, and he also settled a rape allegation through a non-disclosure financial payment.
Robert F. Kennedy Jr. is the scion of the legendary Democratic family, chosen by Trump to head the Department of Health and Human Services with an annual budget of $1.7 trillion. Kennedy has argued that no vaccine is safe and effective. He was a one-time heroin-snorting addict and self-confessed sex addict who accused his family of being victims of “hypnosis”. Kennedy had an adulterous affair with journalist, Olivia Nuzzi, and three other women have since claimed sexual affairs with him.
Trump’s nominee for national intelligence director, Tulsi Gabbard, transformed from being a liberal Democrat to a right-wing Republican Trump loyalist. She has often been portrayed as a Putin-supporting Russian intelligence asset. Gabbard has also reportedly been involved with a secretive Hare Krishna-linked sect called the Science of Identity Foundation renowned for its Islamophobia, homophobia, and vegetarianism.
Three troublesome dwarfs
Among Trump’s three troublesome dwarfs, Secretary of State nominee, Hispanic Senator Marco Rubio, has experience but lacks substance. The Reversible Rubio has become a sycophantic Trump loyalist, having previously been one of his strongest critics during the 2016 Republican primaries. The Cuban-descended Rubio is an anti-China hawk who strongly despises the Chinese Communist Party which actually practices unbridled capitalism. Rubio also backs Trump’s calls for reducing American spending in Ukraine and getting Europeans to stump up more cash for their own defence. However, he previously led senatorial efforts to stall any American withdrawal from NATO.
National Security Adviser nominee, Mike Waltz, was a former Green Beret and former U.S. Congressman. A Trump loyalist, he has backed vice-president J.D. Vance’s MAGA approach of reducing spending on Ukraine and the Middle East to counter China more effectively. Waltz, however, has solid experience in this field, having served on Congressional committees on foreign affairs, armed services, and intelligence. He regards America’s military missions in Afghanistan and Iraq to have been hubristic, and has argued that ill-equipped NATO troops did more harm than good in Afghanistan.
The seventh dwarf is Elon Musk, the world’s richest man, who used Twitter/X to spread disinformation and spent $130 million to help Trump regain the White House.
An émigré whose formative years were spent in the militaristic milieu of apartheid South Africa, Musk appears to have embraced Trump’s white supremacy. He has long benefitted from U.S. government contracts, and has pending investigations with its Securities and Exchange Commission.
Musk has been tasked with heading up the Orwellian-sounding Department of Government Efficiency, with a pledge to slash $2 trillion (nearly a third of the budget) in government spending.
This would be politically suicidal given that popular programmes like Social Security and Medicare, which Trump has promised to protect, account for much of these costs. Trump also seems determined to launch an ill-advised purge against what he calls the “deep state” by removing the job security of over 50,000 federal bureaucrats.
MAGA lunatics are about to take over the American asylum. This horror show is coming soon to a theatre near you. This will be no fairytale with a happy ending.
Professor Adebajo is a Senior Research Fellow at the University of Pretoria’s Centre for the Advancement of Scholarship in South Africa.
[OPINION] How Donald Trump Mystifies Political Support - Marcel Mbamalu
The phenomenon of Nigerian support for Donald Trump, despite his stance on immigration, is indeed complex and seemingly paradoxical. During and after the U.S. election, many Nigerians, especially through social media, expressed strong support for Trump and shared his posts, including those who have never travelled to the U.S. Some even created sticker designs inspired by Nigerian culture featuring Trump. This phenomenon raises questions about whether these individuals have forgotten that Trump is a staunch supporter of strict immigration policies, with strong allegations of anti-Africa foreign policy stance. Obviously, many Nigerians seem to prioritise other aspects of his persona and policies that resonate with them, reflecting the complex nature of political support where certain values can overshadow conflicting positions.
Nigerians, and by extension Africans, are believed to be at the receiving end of Trump's anti-immigration policies. His previous administration imposed travel bans on Nigeria and other African countries, citing national security concerns, which could potentially be reinstated, limiting the ability of Nigerians to enter the U.S. His prior administration's policies led to considerable backlogs in visa processing, with current wait times for interviews reaching two to three years; these delays could worsen if similar policies are reintroduced.
Stricter immigration policies, including mass deportation operations and a focus on border control, may create a more hostile environment for all immigrants, even if not directly targeting Nigerians. While some experts suggest that legitimate students and professionals may not be heavily impacted, there are concerns about increased scrutiny and potential restrictions on study and work visas.
Trump's Consistent Hardline Stance on Immigration
Donald Trump's immigration stance has remained consistent from his 2016 campaign through his 2024 election victory. In 2016, he vowed to deport illegal immigrants. His 2017 executive order suspended visas from seven Muslim-majority countries and halted the refugee programme. After winning in 2024, Trump pledged to conduct "the largest domestic deportation operation in American history," stating, "We will pick them up and we will send them back to their countries." He also promised to "seal up the border" and implement "strong ideological screening of all immigrants."
These policies are seen as targeting non-white communities, particularly African Americans and Asian Americans. Critics argue that Trump's immigration policies disproportionately affect people of colour, citing mass deportations and travel bans. His use of racially charged language, such as referring to certain nations as "shithole countries" and describing immigration as an "invasion," has been criticised for supporting white supremacist ideologies and potentially contributing to increased hate crimes. Proposals to end birthright citizenship and implement "ideological screening" further fuel concerns about discrimination against non-white communities in the U.S.
Despite Trump's controversial rhetoric and policies perceived as targeting non-white Americans, somehow these demographic groups, including African Americans and Asian Americans, have shown support for him across political divides.
Based on the exit poll data and analysis provided, Donald Trump made significant gains among minority voters in the 2024 election. Approximately 13% of Black voters supported Trump, an increase from previous elections. Latino voters showed a substantial shift, with about 45% to 46% backing Trump, up from 32% in 2020. This change was particularly pronounced among Latino men, with 45% voting for Trump. Research showed that Trump also performed well among younger voters, securing 43% of those under 30. This shift indicates that what political strategist Mike Madrid who noted that not all non-white Americans see themselves as marginalized is true, thereby contributing to Trump's appeal among diverse voter bases. Why?
Is there a connection between Trump's support and sympathy for his persecution during the elections?
Though there is no clear evidence regarding this, still seems that the 2024 election campaign saw a strong link between support for Trump and sympathy for his perceived persecution. The July 2024 assassination attempt tended to boost his support, casting him as a martyr figure. The ceaseless barrage of attacks from mainstream media tended to achieve the opposite result of attracting voters to Trump.
Similarly, Trump's campaign framed his legal battles as political persecution, resonating with his base while religious language portrayed him as a protector of faith, appealing to evangelical voters. Thus, the assassination attempt amplified Trump's narrative of being victimised by "enemies" or Democrats. Many Christian voters viewed his persecutions as spiritual warfare. Trump adviser Kash Patel once indicated that a second Trump administration would actively target journalists for prosecution, further emphasising the notion of political persecution against those who criticised or investigated him.
What About Nigerians Who Are Not in the US? Why Do They Support Trump?
It is also more surprising that some Nigerians outside the US still strongly support Trump. Despite Trump's controversial rhetoric about Africa, some Nigerians supported him due to his stance on conservative social issues, particularly abortion and Lesbian, Gay, Bisexual, and Transgender (LGBTQ+) rights. This is evident in Daddy Hezekiah (Victor Onukogu), the founder of Living Christ Mission in Onitsha, Anambra State, who led his church members in a march supporting Trump's re-election in 2020. They carried placards reading "Trump 2020" and "God for President Trump," singing songs that translated to "We will gain victory ... pray for Trump to win."
No doubt, Daddy Hezekiah's support was largely based on Trump's conservative stance on abortion and LGBT issues. That is why Jude Feranmi Adejuwon, a Nigerian political activist and writer explained that; "If the church supports Trump, it would be because of the manifesto of the Republicans; namely a zero tolerance for abortion and LGBT issues. For example, Trump was the first sitting president to speak in person at the annual March for Life."
Hence, some of those supporters viewed Trump as a defender of traditional Christian values, particularly his opposition to abortion and LGBT rights. Consequently, Nigerian Christians, especially evangelicals, aligned with Trump's conservative stance on these social issues, seeing him as a bulwark against what they perceive as liberal threats to religious beliefs and traditional family values.
That is why Pastor. Samuel Adebayo from Lagos, Nigeria, in 2024 stated, "Trump stands for traditional Christian values in an increasingly secular world. That is why we have raised an altar praying for him to win so the Bible can become a reference point in not just America but the world."
Aside from the issues of Christian and traditional family values, there are other Nigerians and politicians like Hon. Ehiozuwa Agbonayinmma, a former member of Nigeria's House of Representatives who also expressed support for Trump, stating that Republican administrations have shown more support for Nigeria. Others support Trump's "America First" policy and wish Nigeria's leaders would also prioritise their own citizens the way Americans do.
No doubt, Trump's support for cryptocurrency is another significant factor contributing to his popularity among some Nigerians. His pro-crypto platform resonates with enthusiasts who view digital currencies as avenues for economic growth and financial inclusion. During his campaign, Trump pledged to make the US "the crypto capital of the planet" and promised to appoint crypto-friendly regulators, appealing to those frustrated with current regulations. Following his election victory, Bitcoin and other cryptocurrencies saw significant price increases, reinforcing the belief that his presidency would benefit the crypto market.
This particular stance contrasts with his opponents' skepticism, making Trump more appealing to crypto supporters in Nigeria. These voices span from 2019 to 2024, showing consistent support for Trump among certain Nigerian religious and political figures despite his controversial statements about African nations.
What About Those Who Do Not Support Trump?
While some Nigerians support Donald Trump, many do not for various reasons. His history of making derogatory comments about African nations, including calling them "shithole countries," has alienated many. Also, Trump's restrictive immigration policies, such as the 2020 travel ban affecting Nigeria, have been viewed negatively by those seeking opportunities in the US. Critics also highlight his perceived disregard for human rights and democratic norms and concerns that his "America First" policies could harm Nigeria's economy. Again, Trump's skepticism of climate change and behaviour especially his insensitivity that cryptocurrency could cause more global warming clashes with the cultural values of many Nigerians who are not in the crypto world.
Psychological and Emotional Factors of Trump's Support
Trump's support can be explained through various psychological and emotional factors. His rhetoric resonates with feelings of frustration and a desire for change while his blunt communication is seen as authentic. This creates a sense of belonging among supporters often overriding rational policy considerations. Furthermore, fear and anxiety about economic insecurity and cultural change drive his messaging while cognitive dissonance leads some to double down on their beliefs despite contradictory evidence. Hence, many view Trump as a straightforward leader who rejects the establishment. These factors combine to create a strong emotional attachment to Trump illustrating the sentimental nature of political support and his win in the just concluded US election.
[PHOTO] Ondo Governor Presents Certificate Of Return To President Tinubu
Newly elected Ondo State Governor, Lucky Aiyedatiwa and deputy governor elect, Olayide Adelami presents their Certificate of Return to President Bola Ahmed Tinubu. With them are the APC National Chairman, Abdullahi Ganduje and Governor of Ekiti State, Biodun Oyebanji. Abuja. Tuesday, November 26, 2024.
Enugu State 2025 Budget Speech: 'Budget of Sustainable Growth and Development' - Peter Ndubuisi Mbah
ADDRESS BY DR. PETER NDUBISI MBAH, GOVERNOR OF ENUGU STATE, DURING THE PRESENTATION OF THE STATE’S 2025 DRAFT ESTIMATES OF REVENUES AND EXPENDITURES TO THE ENUGU STATE HOUSE OF ASSEMBLY, HELD AT THE HOUSE OF ASSEMBLY COMPLEX, ENUGU ON November 26, 2024
Protocols.
The Deputy Governor,
The Right Honourable Speaker,
The Secretary to the State Government
Principals Officers of the State House of Assembly
Honourable Members of the State House of Assembly
The Chairman, PDP Enugu State Chapter
Members of Enugu State Executive Council
Chairmen of Boards and Parastalals
Permanent Secretaries, Clerk of the House
Gentlemen of the Press
Ladies and Gentlemen,
- On December 5, 2023, when we rendered the 2024 budget before this hallowed chamber, we came convinced of the huge social and economic potential of this State. Hence our decision to set ambitious goals for ourselves from the onset. Today, having run this race now for about 17 months we are more than ever convinced that we were not mistaken. We have seen enough to confirm our belief that our vision to grow Enugu’s GDP from $4.4b to $30b is patently achievable. Yes, Enugu State can be one of the top three economic pillars of Nigeria, and no citizen of this state need suffer poverty or penury. It is this enthusiasm which has informed our budget for next year, which aims at ensuring that no geographical, social or economic segment or sector of this great State is left behind.
- I am, as a result, deeply pleased to present to this August gathering of our esteemed House of Assembly today the Multi-year budget for2025-2027. As the second budget by this administration, we see this as a valuable opportunity to double down and consolidate upon the achievements made in our first year.
- In our view nothing could better exemplify our commitment to the mandate Ndi Enugu gave us about One and a half years ago, than this annual event of accountability that is the budget speech. It is a responsibility we sort wholeheartedly and one we can only discharge with joy and appreciation.
- Over the last year, the Nigerian economy which our State economy is inextricably linked to experienced Gross Domestic Product (GDP) growth of about 3.49% in the third quarter.
- Other economic indicators have however, maintained negative trends so far this year. Inflation has most recently hit 33.88% and the Naira Dollar exchange rate is currently running at about N1,750 to the US Dollar. Related to this, the Monetary Policy Rate, which drives the cost of money in the economy have been most recently revised upwards to 27.25%. While, these negative trends may still be challenges to our overall economic growth, the improving GDP growth is perhaps a sign that the worst may be over and we are about to see more aggressive growth in the future.
- In Enugu, for our own part, we were able to largely meet our development targets.
- In the very important area of Education, we were able to award contracts for the development of all of our smart green schools across the State. These schools are at various stages of completion in 245 wards while we are still seeking suitable sites for 15 urban schools due to the built up nature of the wards where they are located. We envisage that all 260 of these schools will be completed, equipped, staffed and ready for classes by the commencement of the new school year in September 2025. We have also made extensive investments in developing Centres of Experiential learning where teachers will be trained and retrained to prepare them for the modern methods and facilities in use at the smart schools.
- To provide senior secondary education to graduates from the Smart Schools, we are developing model secondary schools across the 17 Local governments of the State. We have also commenced work on the reconstruction of our technical schools across the State, in recognition of the need to build a strong work force of technical workers to support our ambitious development goals.
- Mr Speaker and Honorable members, In the Healthcare sector, we have commenced construction of 260 of the type II, primary health Centre in each of the wards in the State, We have also commenced the completion of the Enugu International Hospital on Rangers Avenue in Independence layout. This hospital will upon commissioning reverse the trend of indiscriminate medical tourism that has plagued our Country, by providing world class medical services using cutting edge medical equipment such as we typically travel to East and West to find.
- We have also recently re-equipped and commissioned 3 type III primary health centres in Adani, Uzo uwani Local Government Area, Agbogugu, Awgu LGA, and Nara, Nkanu East LGA. These are the highest levels of facilities, in the Primary Healthcare system ranking just below the full scale General Hospitals. With the new standards of facilities we have just installed in these hospitals, they will be able to provide surgical services, initial kidney and cardiac care as well as highest levels of gynecological and Obstetric care to our expecting mothers across the State. At the tertiary level, we are expanding the facilities at the Parklane Teaching Hospital with the construction of 2 blocks of high-rise buildings. One will provide additional office spaces and accommodation for the students, while the other will house medical services departments.
- In the Power sector, we have finally commenced our journey towards building an independent power grid for Enugu State, with the effective handover of regulatory powers by the National Electricity Regulatory Commission (NERC) to our own regulator, the Enugu State Electricity Regulatory Commission (EERC). In line with this, the Enugu Electricity Distribution Company (EEDC) has now incorporated and licensed a new vehicle Main Power Limited to manage the distribution of power in Enugu State. I would like to take this opportunity to commend the Company for the deep sense of partnership they have displayed throughout this transition process. We look forward to continuing to work with them to evolve a power sector in Enugu that will be the envy of the entire Country.
- Very early in our journey as an administration, we identified Security as fundamental to the achievement of our governance vision, and established the Distress Response Squad. We have not wavered from that position in the slightest, so in the course of 2024, we have built up arguably the most extensive CCTV camera network, using AI enabled cameras to cover all areas of the State, as well as completed the construction and equipment of a world class command and control centre from where we are able to monitor all parts of the State and track criminal elements to facilitate their arrest and prosecution. We have also procured over 100 patrol vehicles mounted with wide angle AI enabled street cameras to boost the operations of the DRS, as well as procuring over 500 communication radios, helmets and body cameras for personnel. These additions are billed for a ceremonial launch in the coming weeks. Enugu State is already very uncomfortable for criminal elements, but with these imminent enhancements to our security network, I can only say to Ndi Enugu that ‘ the best is yet to come’.
- Our campaign to build or enhance up to Enugu’s Roads has continued to build steam, we have expanded the scope of our roads work from the initial 90 urban and inter-urban roads by awarding an additional 141 urban and 20 gateway roads.
- These roads include the urban roads which cover all the zones in Enugu such as Independence layout, Emene, Thinkers Corner, etc., and the rural/ cross country roads and gateways such as the Abakpa-Ugwogo-Opi road which we are converting into an ultra-modern dual carriageway and the statewide ring road networks connecting Ama-Iwollo-Umulokpa-Adani-Ogurute and Ete.
- In the Transport sector, we are on the verge of commissioning our four ultra-modern transport terminals in Holy Ghost, Abakpa, Gariki and Nsukka. These terminals are expected to be commissioned by December 22 this year.
- We are also on the verge of launching the Enugu Air Airlines in a few weeks time. In the same vein, we have completed all payments and are awaiting the arrival of over 200 dual fuel (Diesel and CNG) , high capacity urban mass transit buses. These include 50 which were formally in disrepair, which we have entered an agreement with ANAMMCO to refurbish. In our view, this particular element of our transportation intervention bears some emphasis. Beyond expanding our fleet of modern city buses, it supports domestic industry and helps boost high quality job creation in the State. It aligns with our strategy for to introduce a new and more organised transport system which will enhance the ease of movement across the City.
- In the area of Tourism development, we are poised to finally commission the Enugu International Conference Centre (ICC) and very soon thereafter reopen the Presidential Hotel. We have also flagged off the construction of the all new over 300 room five Star ICC hotel adjacent to the Conference Centre. To stimulate tourism within the State and complement these initiatives, we are developing a number of tourism sites in the State including 5 sites namely the Magical Miliken Hill theme park (on which our development partners are currently working) the Awhum water falls and Cross, the Nsude pyramids and the Ngwo Pine Forest where we will be installing a zipline system. In addition we will be developing 5 urban recreation parks within Enugu City to enrich the leisure options available to residents and visitors.
- We have also backed our commitment to Agriculture by commencing our journey towards the mechanization of farming in the State with the acquisition of 200, 75 horse power, Danish-made tractors. These are the first batch of a fleet which will ultimately get to 1,000 units. They will be available for use across the State through a Tractor leasing Company which we will be reactivating shortly.
- We have also taken major steps in the areas of reactivating major government owned enterprises in the State either by attracting private investment to activate them or by directly funding their reactivation. Some of these entities include Enugu United palm Products Limited (EUPPL), where we have attracted over N100billion in private investment, Niger Gas, Sunrise Flour Mills where an investor is injecting over N40billion, Tractor Leasing Company etc. We have also initiated an investment in the establishment of a DNA Learning Centre in the State which will provide leading edge DNA and forensic services as well as research services making our State a major National hub in the area of the life Sciences.
- In terms of budgetary performance, the total revenue realised in the State as at October 2024 came to N459,851,309,396.47, which comes to a budget performance of 88%. Of this amount N178,354,494,502.47 related to Statutory Receipts, while N136,700,000,000.00 related to Capital Receipts and N144,796,814,894.00 to Internally Generated Revenue.
- As at October, these inflows had been applied to expenditure with N382,427,929,564.00 as Capital Expenditure and N76,546,090,116.18 as recurrent expenditure. These translated to a budget performance of 88%. Additional revenues and expenditure are still expected before the end of the year, with IGR envisaged to surpass the N200 billion mark.
- While we may make bold to say that our progress in this past year is commendable given the odds that were arraigned against the State economy, we are not yet ready to rest on our oars.
- Mr Speaker, Honorable Members, distinguished Ladies and Gentlemen, it is with great enthusiasm and pleasure that I present to you our budget of ‘Exponential Growth and Inclusive Prosperity ’for 2025. In crafting this budget, we have sort to continue to lay the right foundation in Enugu to enhance the economy and attract even more private investment.
- In spite of the dreary economic environment across the Country, for us here in Enugu, we have elected to remain bullish in our aspirations, and to double down on our commitment to elevate our State to top three status in terms of GDP nationally, and eradicate poverty from our midst. In deed, we see this as a vindication of our previously espoused view that sustainable national growth can really only be driven from the sub-national units to the Federal levels, and not the other way round as we have attempted to do to date.
- It is on account of this that we are proposing to the House of Assembly today, a budget with a total envelope of ₦971,084,000,000.00 (Nine Hundred and Seventy One Billion, Eighty Four Million Naira) as against the budget for 2024 fiscal year which totaled ₦ 521,561,386,000.00. This represents an 86.4% increase from the 2024 revised budget. The budget is broken down as follows:
|
N |
Recurrent Expenditure |
133,140,000,000.00 |
Capital Expenditure |
837,944,000,000.00 |
Total |
971,084,000,000.00 |
- In the area of our revenues, we estimated that total recurrent revenues during 2025will amount to ₦692,179,000,000 as against the approved revised provision for 2024 of ₦383,789,000,000.00. The recurrent revenues for 2025 are broken down as follows:
|
N |
Opening Balance |
32,000,000,000 |
Internally Generated Revenue (IGR) |
509,947,000,000 |
Statutory Revenue |
48,749,000,000 |
Exchange Rate Differential |
26,559,000,000 |
Value Added Tax (VAT) |
74,924,000,000 |
Total Recurrent Revenue |
692,179,000,000 |
- For 2025Fiscal Year, Recurrent Expenditure which is proposed at ₦133,140,000,000.00 is made up of:
|
N |
Personnel Costs |
58,124,000,000.00 |
Overhead costs |
53,936,000,000.00 |
Consolidated Rev. Fund Charges |
21,080,000,000.00 |
Total Recurrent Expenditure |
133,140,000,000.00 |
- With the total recurrent Expenditure at ₦ 133,140,000,000.00, this translates to a Net Recurrent Revenue of ₦ 559,039,000,000.00, which is thus transferred to the Capital Development Fund.
- The total Capital Expenditure for the year 2025is projected at ₦ 837,944,000,000.00 as against ₦414,334,120,000.00 for 2024 Revised Budget. The current capital expenditure estimate will be funded from, the sum of ₦ 559,039,000,000.00 to be transferred from the Consolidated Revenue Fund, and the capital receipts of ₦278,905,000,000.00 to be realized as follows:
|
N |
External and Internal Aids and Grant |
15,200,000,000.00 |
Other Capital Receipts |
80,202,000,000.00 |
Domestic loans/ Borrowings receipts |
55,000,000,000.00 |
International loans/ Borrowings receipts |
128,503,000,000.00 |
Total |
278,905,000,000.00 |
- On a sectoral basis, the Capital expenditure is broken down as follows:
|
N |
Administration Sector |
26,873,613,000.00 |
Economic sector |
462,068,808,000.00 |
Law & Justice Sector |
1,660,448,000.00 |
Regional Sector |
1,554,350,000.00 |
Social sector |
345,786,781,000.00 |
- To throw more light on the specifics of our fiscal plans for 2025, I will spend some time to unpack the capital expenditure outlined above.
- As we must all know by now, Education both our ‘sword’ and ‘shield’ in this battle to achieve economic growth in our state and banish poverty and want among our population. Consequently,we are maintaining the ambitious direction we charted in 2024 by voting a total of ₦320,609,059,000,00 for that sector, This represents representing 78% of the social sector of the budget and 33.2% of our Capital Expenditure this year. These funds will be applied towards the completion, equipping and staffing of our 260 Smart, Green basic Schools in readiness to school commencement in the third quarter of 2025. We will also be executing our model senior secondary schools in the 17 local government areas as well as rebuilding and reequipping the Government Technical Schools across the State. Finally, we will also be boosting the capacity of our tertiary schools by enriching their curricula and pedagogy to convert them to experiential teaching.
- There can be no economic growth without quality healthcare. Not only because economic growth required a healthy work force, but also because private investment required a conducive environment with quality medical and related services. This is why we are spending N45,830,896,000.00 on the sector this year. This will go towards the completion of our new International Hospital, as well as the construction, re-equipment and staffing of the entire healthcare value from our new 260 type II primary Health centres, to the 22 new cottage hospitals and the various general hospitals across the State slated for renovation, refurbishment and re-equipment.
- In the area of Works and Infrastructure, we will continue our relentless advance towards our target to build or refurbish all key roads across the State by 2031. In line with this, we will spend a total of N213,120,267,000.00 in 2025. Prominent among the projects in this envelope are the completion of the first phases of the New Enugu City for which sales are expected to commence next year, the completion of the ICC 5 Star hotel, the dualisation of the Abakpa -Opi-Nsukka Road, the dualisation of the Enugu Airport to Ebonyi Border road, the completion of the Owo-Amankanu-Ikem road which will open up the Eastern flanks of the State to economic development and many other road and infrastructure projects, such as:
- Oduma - Nomeh
- Nome-Mburumbu- Nara - Nkerefi
- Umabi-Ehuche- Achi with spur to Agbudu - ihe- Owelli - Ogugu-Amodu
- We kicked off our entry into government in 2023 with our daring achievements in the water sector, but our work in that area is far from done. That is why we plan to spend another N23,223,150,000.00 on this sector this year. This spend would be towards the completion of the second transmission line from Ninth Mile to New Market twin tanks, and the refurbishment of a number of secondary lines to carry water into a number of zones which are yet to get reliable water supply. We will also be commencing work on the Scheme for the Nsukka metropolis, as well as a number of other small rural water schemes across the State.
- Food inflation is a major component of core inflation in Nigeria. Consequently, food production is critical to moderation of the currently high levels of inflation in the Country. As a result, we will be spending up to N82,300,761,000.00 in the agricultural and agro-industrialisation sector this year. Among other things, this amount will serve to fund the procurement of Tractors for use in the State, most of which will come from the local assembly plant of the Danish investors who established within the State earlier this year. In addition to this, we will be launching our new, modern farm estate projects across the State. This project will entail the earmarking of 200 hectares of land in each of the 260 wards in the State for the cultivation of staple and cash crops such as Cassava, Soya bean, Maize, peppers, vegetables etc. Government will collaborate with the various local governments to provide access to improved farming inputs, extension services and storage to help manage post-harvest losses. We will also work with the programme leadership to ensure improved access to market to assure the farmers of their just rewards for work done. We will also be collaborating with Development partners to establish a Special Agro processing Zone project together with 3 complementary Agro-Transformation Centres in the State.
- In the area of Transport we will be spending a total of N41,132,463,000.00 to expand Enugu Air with the acquisition of 4 additional aircraft. In addition, we will be consummating the concessioning of the Akanu Ibiam international airport as well as the construction of an international cargo terminal. We will also be floating a new taxi scheme in collaboration with the private sector to modernize urban and inter-urban transportation for Ndi Enugu.
- Other areas of the government activities which will continue to benefit from our focused activities during the year will be the security sector, where we will continue to boost the capacity of our security agencies both Federal and State with enhanced training and equipment
- Mr Speaker, We will also invest additional and considerable time and resources towards boosting our capacity to collect internally generated revenues by redoubling our efforts to digitize various elements of revenue collection. In this light, in the next few weeks we should be commissioning the offices of the new Enugu Geographical Information System (ENGIS) which will provide more efficient and effective digital land management services to Ndi ENugu.
- Mr Speaker and honorable members, as you may be aware, we have been awarded the hosting rights for the National Sports Festival in 2026. Consequently, we will be spending over N13b in upgrading our stadia and games facilities including the Nnamdi Azikiwe stadium where we will include aqautic sports facilities, and the Agwu games villages which will be fully revamped.
- Speaker and Honourable Members, let me once more seize this opportunity to recognise and commend your tireless support to this administration.It is only trite to mention that the progress we have made in the course of 2024 is due in no small measure to the spirit of understanding you have shown in working with our executive. We appreciate this and do not in any way take it for granted.
- Mr Speaker, Honorable members, distinguished Ladies and Gentlemen, Permit me to close by noting that this our budget of exponential growth and inclusive prosperity is engineered to deliver, more jobs for Ndi Enugu, more investment, better government services and improved quality of life for all. We hereby enjoin all residents of the State to continue to accompany us on this journey towards greatness and a return to our historical preeminence. I am convinced that with you all backing us wholeheartedly, there is no mountain too high for us to surmount.
- Thank you all and God bless you. I wish you all the best of the remaining year, a joyful holiday season and prosperity in the course of 2025. Our Tomorrow is here!
[STATE HOUSE PRESS RELEASE] President Tinubu Nominates Three New Board Members For The Code Of Conduct Bureau
In a move to enhance oversight mechanisms, President Bola Ahmed Tinubu has nominated three new members to fill existing vacancies on the board of the Code of Conduct Bureau (CCB).
The announcement was made in a formal letter addressed to the Senate President.
The nominees are Alhaji Fatai Ibikunle from Oyo State, Kennedy Ikpeme from Cross River, and Justice Ibrahim Buba, a retired judge of the Federal High Court.
Established in 1979, the Code of Conduct Bureau plays a critical role in maintaining integrity within public service and ensuring compliance with the country’s ethical standards.
The Bureau operates with a 10-member board.
On October 23, 2024, President Tinubu swore in the chairman of the board, Dr. Abdullahi Usman Bello.
The current board includes: Barr. Muritala Aliyu Kankia, Hon. E. J Agbomayinma, Barr. Ben Umeano, and Prof. Juwayriyya Badamasiuy.
Other members are Mr. Bulus I Zephaniah, and Hon. Abdulsalam Taofiq Olawale.
Bayo Onanuga
Special Adviser to the President,
(Information & Strategy)
[STATE HOUSE PRESS RELEASE] President Tinubu Honours Invitation For A State Visit To France
President Bola Tinubu will depart Abuja on Wednesday to begin a state visit to France in honour of an invitation from President Emmanuel Macron.
The Nigerian leader's three-day visit, which will focus on strengthening political, economic, and cultural relations and establishing more opportunities for partnership, particularly in agriculture, security, education, health, youth engagement and employment, innovation, and energy transition, promises significant benefits for Nigeria.
President Tinubu and his wife, Sen. Oluremi Tinubu, will be received on Thursday at the 350-year-old French military museum, Les Invalides and Palais de l'Élysée, by Macron and his spouse, Brigitte, for initial ceremonies that will dovetail into bilateral meetings.
During the visit, President Tinubu and President Macron will harmonise positions on stimulating more interest in exchange programmes that focus on skill development for youths and improving their competencies in automation, entrepreneurship, innovation, and leadership.
Both leaders will participate in political and diplomatic meetings highlighting shared values on finance, solid minerals, trade and investments, and communication. They will also witness a session by the France-Nigeria Business Council, which oversees private sector participation in economic development.
Brigitte and Nigeria's First Lady will discuss the latter's passion for empowering women, children, and the most vulnerable through the Renewed Hope Initiative.
President Tinubu and his wife will be hosted at a state dinner by the French leader before their departure.
Top government officials will accompany President Tinubu on the trip.
Bayo Onanuga
Special Adviser to the President
Information & Strategy
[OPINION] A Nation Drowning in Laws: Nigeria’s Paradox - Prince Charles Dickson
The Latin axiom “Corruptissima re publica plurimae leges” rings painfully true for Nigeria. It translates to “The more corrupt the state, the more numerous the laws.” This adage seems to encapsulate the nation’s convoluted legal landscape, a labyrinth of statutes that often serve as tools for manipulation rather than instruments of justice.
Nigeria, a nation blessed with abundant resources, has been plagued by endemic corruption for decades. This scourge has permeated every facet of society, from government institutions to the private sector. However, the problem isn’t merely the absence of ethical conduct; it’s also the overabundance of laws that are frequently ignored or selectively enforced.
The Nigerian legal system is a complex web of statutes, regulations, and by-laws. The sheer volume of legislation can be overwhelming, even for legal professionals.
So, let me address just one concern; our Tax Laws. The Nigerian government’s recent push for tax reform has ignited a firestorm of controversy, with proposed tax bills threatening to further burden an already struggling populace. The core of the issue lies in the perceived excessive taxation and the potential for increased government overreach.
At the heart of the debate are several key bills, including the Nigeria Tax Bill 2024, the Tax Administration Bill, the Nigeria Revenue Service Establishment Bill, and the Joint Revenue Board Establishment Bill. These bills aim to overhaul Nigeria’s tax system, with proponents arguing that they will modernize the system and boost government revenue. However, critics contend that these measures will disproportionately impact the middle class and small businesses, further stifling economic growth.
One of the most contentious aspects of the proposed reforms is the expansion of the tax net to include previously exempt sectors and individuals. This has raised concerns about the government’s ability to effectively monitor and enforce these new taxes, potentially leading to increased corruption and bureaucratic inefficiency. Additionally, the proposed establishment of a new tax authority, the Nigeria Revenue Service, has sparked fears of increased surveillance and potential abuses of power.
The timing of these proposed reforms has also come under scrutiny, with many arguing that they are ill-timed given the current economic climate. With rising inflation, unemployment, and poverty rates, many Nigerians fear that additional tax burdens will further erode their purchasing power and exacerbate social unrest.
Meanwhile, sometime last week, a military convoy had an altercation with a civilian driving and overtaking, whatever the real story was, the civilian was brutalised, Nigerians then went ahead especially those justifying the military right to brutality to reel out laws— Overtaking Military Convoy: Consequences Under Nigerian Law
Overtaking a military convoy is a serious offense in Nigeria, punishable under various laws. This article examines the consequences of overtaking a military convoy under Nigerian law.
Relevant Laws
The Armed Forces Act (AFA) 2004: Section 119 prohibits obstructing or interfering with military operations, including convoys.
The Road Traffic Act 2004: Section 35 prohibits reckless driving, including overtaking military convoys.
The National Security Agencies Act 2004: Section 15 empowers security agencies to take necessary actions to maintain national security.
Consequences of Overtaking Military Convoy
Arrest and Detention: Security personnel may arrest and detain anyone who overtakes a military convoy.
Prosecution: Offenders may be prosecuted under the AFA, Road Traffic Act, or National Security Agencies Act.
Imprisonment: Conviction may result in imprisonment for up to 5 years (AFA) or 2 years (Road Traffic Act).
Fine: Offenders may be fined up to ₦50,000 (AFA) or ₦20,000 (Road Traffic Act).
Vehicle Confiscation: The vehicle used to overtake the convoy may be confiscated.
Tort Liability: Offenders may be liable for damages or injuries caused to military personnel or equipment.
Court Rulings
In Aoku v. State (2017), the Court of Appeal upheld a 5-year imprisonment sentence for overtaking a military convoy.
Precautions
To avoid consequences:
- Exercise caution when approaching military convoys.
- Maintain a safe distance.
- Follow traffic rules and regulations.
- Avoid reckless driving.
Conclusion
Overtaking a military convoy is a serious offense in Nigeria, carrying severe consequences under various laws. It is essential to exercise caution and respect military operations to avoid prosecution and punishment.
Apart from the precautions everything in the piece is at best hogwash, some of those laws don’t even exist, but sadly it speaks to the legal proliferation I am referring to which leads to several unintended consequences.
The nation suffers Legal Uncertainty as a result of conflicting Laws, the sheer number of laws often leads to inconsistencies and contradictions, creating confusion and uncertainty for citizens and businesses alike.
These laws have plenty Overlapping Jurisdictions, multiple agencies may have overlapping regulatory authority, leading to bureaucratic hurdles and delays. Whether it is LASTMA, or FRSC and federal and local roads, or it is sharia or canon law.
With Selective Enforcement, Law enforcement agencies may prioritize certain laws over others, leading to selective justice and undermining the rule of law.
These laws open the doors for Corruption and Abuse of Power, as opportunities for Bribery and Extortion, corrupt officials to demand bribes or extort money from citizens and businesses. Leaving rooms open for Impunity for the Powerful as wealthy and influential can often use their connections to circumvent the law or delay legal proceedings.
The sheer volume of laws can make it difficult to hold public officials accountable for their actions. Sometimes in corruption cases when citizens hear the judgments passed you wonder under which law.
Do I need to emphasize how these laws stifle innovation and entrepreneurship, hindering economic growth, as a result of these regulatory burdens with red tapism, bureaucratic hurdles and delays that discourage foreign investment and hinder domestic businesses, we hardly make progress.
All these laws make it difficult for businesses to plan and invest, leading to economic stagnation. When laws are not enforced or are selectively applied, citizens lose faith in the legal system and the government. Leading to erosion of public trust and cynicism and distrust.
Whether it is a tax law, or a traffic law, our laws need simplification and codification, we need to combine overlapping and contradictory laws into a more streamlined and coherent legal framework. Loads of review and repeal by identifying outdated and unnecessary laws to reduce the regulatory burden.
Currently there is no effective enforcement, by strengthen law enforcement agencies, with the resources and training they need to enforce the law effectively. Ensuring independence of the judiciary and protecting judges from political interference is paramount.
Then we need robust accountability mechanisms to hold public officials accountable for their actions.
Let me add that half of the problem of these laws are lack of public participation. Involve citizens in the law-making process to ensure that laws reflect their needs and concerns. Promote legal literacy to empower citizens to understand their rights and responsibilities, because just as the proposed tax bills have ignited a fierce debate across various sectors of Nigerian society, with civil society organizations, labor unions, and business groups voicing their concerns. The government continues to push for these reforms, the truth is that you cannot strike a balance between generating revenue and ensuring that the tax burden is distributed fairly and equitably with a populace that does not know what the law is about.
By addressing the root causes of the problem, Nigeria can break free from the cycle of corruption and create a more just and equitable society. The path to progress lies in simplifying the legal framework, strengthening law enforcement, and fostering a culture of accountability and transparency, will Nigeria win these legal cycles—Only time will tell.
Video-sharing platform Rumble invests $20 million into Bitcoin
Video-sharing platform Rumble announced that it plans to allocate up to $20 million in Bitcoin for its crypto treasury.
The video-sharing and cloud services company announced yesterday that its board has approved a strategy to diversify its corporate treasury by allocating up to $20 million of spare cash to Bitcoin.
“We believe that the world is still in the early stages of the adoption of Bitcoin, which has recently accelerated with the election of a crypto-friendly U.S. presidential administration and increased institutional adoption. Unlike any government-issued currency, Bitcoin is not subject to dilution through endless money-printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury,” said Rumble Chairman and CEO Chris Pavlovski.
The Chairman went further to reveal his vision for Rumble to become the leading video and cloud services platform for the crypto community.
“We are also excited to strengthen our ties with crypto and to bolster our efforts to become the leading video and cloud services platform for the crypto community,” Pavlovski added.
Rumble announces this move when Bitcoin is retracting and has failed to breach the $100,000 mark. Rumble however noted that the strategy is flexible and might be paused or discontinued at any time.
Rumble joins the ranks of Microstrategy and other corporate firms investing in Bitcoin and setting up strategic reserves. Microstrategy remains the largest corporate holder of Bitcoin.
The Business intelligence firm got into Bitcoin in 2020 during the lockdown and has grown its Bitcoin holdings to $386,700.
Other Firms investing in Crypto
Rumble’s move to put $20 million into crypto is not an isolated case as several firms have also made moves to invest in crypto especially Bitcoin.
- These public companies are usually seeking to leverage Bitcoin and a store of value and hedge against inflation.
- Genius Group, an artificial intelligence firm, recently disclosed plans to invest $4 million to the crypto as part of its “Bitcoin-first” strategy.
Other firms include Anixa Biosciences, a cancer-focused biotech firm, which announced on Nov. 22 its decision to allocate a portion of its treasury to Bitcoin stressing the crypto asset’s ability to serve as a perfect hedge against inflation.
What to Know
- Bitcoin is currently exchanging hands for $93,649 dropping from its peak $99,000 price level from days ago. Analysts still believe the asset will cross the psychological $100,000 barrier before the year ends.
- Microstrategy stocks are highly sought after due to its heavy investment in Bitcoin. The business intelligence firm has acquired the most of BTC and plans to buy even more over the next three years.
[Nairametrics]
Fubara Is ‘Moses’ Of Rivers State – Atiku Abubakar
Former Vice President of Nigeria, Atiku Abubakar has described the Rivers State Governor, Similayi Fubara as a restorer of the glory of the oil-rich state, saying, “he is the Moses of our time.”
Naija News reports that Atiku made the remarks in Port Harcourt through one of his aides, Hon. Dimeji Fabiyi who represented him at an event in commemoration of the United Nations Day Against Women-based Violence, organised by a body known as Nice Esther For All Foundation and hosted by its founder, Mrs. Nice Alameyeseigha.
According to Atiku, “Women have continued to be agents of positive change through generations. Our common destiny to a better future is only a reality when we give women the support and encouragement that they require to lead the charge for social reforms.”
“Today (Monday) , we are all seated here in the beautiful city of Port Harcourt. This gathering is itself a manifestation of positive change that was brought about by women’s action.
“In Rivers State, there is a leader called Governor Similayi Fubara, who possesses a manifestation of the prophecy of Moses, by being a restorer of peace and glory to his people,” Fabiyi said on behalf of Atiku.
Continuing, he remarked that, “Rivers State, we must all remember, has a long history of being the political capital of the South-south.
“The city of Port-Harcourt occupies a pride of place in our beautiful country and that is a fact that no one can deny.
“We give thanks to the Almighty God that He has chosen to add to the many blessings of Rivers State by making His Excellency Similayi Fubara the Governor of this great state today.
“One of the stories in the scriptures that both main religions in Nigeria have in common is the story of Moses. God favours the people of Israel and He sent Moses to deliver them from the wickedness of Pharaoh.
“The major lesson in the story of Moses is that Moses was raised in the palace of the Pharaoh. Anyone who knows that story very well will know that Governor Fubara is the Moses of today and that the people of Rivers State are God’s people.
“Today, in Port Harcourt, we have a governor who has flushed away the footprints of political godfathers who thought they could play God. And today, we are proud and certain that God is on our side, not just in Rivers State but also all over Nigeria.
“I am here to represent a true friend of Rivers State in the person of Atiku Abubakar. And I am happy to announce to everyone here present, that when the new dawn comes in Nigeria, it shall be remembered that Port Harcourt played the first part by standing strong against the tyrants of today.”
Fabiyi said further that Atiku specifically asked him to thank Governor Fubara for, “his enviable courage, doggedness and wisdom in the face of provocations, and also to assure the governor of his solid support in the his quest to make good impact in the lives of the people of Rivers State.”
Atiku further urged the people of Rivers State to stand firmly behind Governor Fubara as he leads them, saying: “Fubara is the Moses God has blessed you with to take you to the promised land and he must be supported by all in the mission.”
The former Vice President commended the effort of the organizers of the event for promoting seminars on non-violence against women, saying that he would have personally been at the event, which coincides with his birthday anniversary, but for his tight schedule.
“To our host of today, Dr. Nice Alameyeisigha, I recognize your efforts and appreciate you for what you’re doing. As my unapologetic supporter, if not for my birthday that coincides with this event today, I should have been there to honour you in person.
“I thank you immensely and appreciate you for being a shining light and strong voice in the advocacy for women and children development, care and empowerment. There is nothing like impacting humanity,” Atiku said.
[Naijanews]
Again, MPC Raises Interest Rate
The Monetary Policy Committee of the Central Bank of Nigeria (CBN) has voted to unanimously increase benchmark interest rate by 25 basis points to 27.50% from 27.25%
All 12 members of the committee were in attendance and voted unanimously for the raise.
Members also voted to retain the asymmetric corridor around the MPR at + 500 and – 100 basis points.
The meeting held on the backdrop of renewed inflationary pressures as the headline food and core measures rose year-on-year in October 2024
Reading out the decision of the committee, the CBN Governor, Olayemi Cardoso, said the committee was particularly concerned that all three measures also inched up on a month-on-month basis, suggesting the persistence of price pressures with attendant adverse impact on income and welfare of citizens.
Members therefore agreed unanimously to remain focused on addressing price developments.
He said while food prices remain a key contributor to the uptick, members commended the efforts of the federal government for the improved security especially in the north east of the country, which would likely improve food production.
The committee also noted the role of rising energy prices on the general price level due to its impact on factors of production.
Cardoso said the recent increase in the price of premium motor spirit, PMS has also impacted the cost of production and distribution of food items and manufactured costs.
The committee was optimistic that the full deregulation of the downstream sub sector of the petroleum industry would eliminate scarcity and stabilize price levels in the short to medium term.
[DailyTrust]