OSINBAJO SHIFTS GROUND, CALLS FOR NATIONAL DEBATE, SAYS COST OF GOVERNANCE TOO MUCH

The Vice-President, Prof Yemi Osinbajo, has said Nigeria needs a national debate to examine the issues around the size and cost of governance, which has often been described as expensive and unsustainable. He explained that it could be difficult for the government to do something about its cost by itself but that it is something that must be done. Osinbajo said these while fielding questions by a former Governor of the Central Bank of Nigeria and immediate past Emir of Kano, Muhammad Sanusi, during a webinar organised by the Emmanuel…

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43% OF THE WORLD’S POOREST PEOPLE NOW LIVE IN NIGERIA AND 2 OTHER COUNTRIES- WORLD BANK

Global economic growth could rebound next year but the number of people living in extreme poverty is expected to remain unchanged after a huge surge this year due to the coronavirus pandemic, the World Bank warned Tuesday. The bank said three countries (India – 24%, Nigeria – 12%, DR Congo – 7%) with the highest shares of the world’s extremely poor are not projected to grow faster than their population, meaning that extreme poverty will remain at the elevated 2020 levels through 2021. The projection came after the Washington-based development…

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CORONAVIRUS: NIGERIA INSTITUTIONALLY WEAK TO TACKLE EMERGENCIES

By Olu Fasan A FEW years ago, some foreign security experts visited Nigeria to study its crisis management system with a view to offering advice and support. What they found shocked them. Nigeria’s standards, they said, were below what they had feared. The country’s technical ability to handle crisis was very low. There was little day-to-day preparedness; there were too many competing agencies that never talked to each other, let alone coordinate their activities. The whole system was absurdly hierarchical and deferential, with an entrenched ‘Oga factor’. Basic IT skills were lacking.…

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DEBT BURDEN: SERVICING OF DEBTS TO GULP75% OF NIGERIA’S REVENUE BY 2024- WORLD BANK

A report published by the World Bank has projected that debt servicing will take up about 75 per cent of Federal Government’s revenue by 2024. The report entitled ‘State debt management in Nigeria: Challenges and lesson learned’, dated April 1, 2020, highlighted institutional and capacity challenges in state debt management in the context of the Nigerian fiscal federalism system. The report was part of a series produced by the Macroeconomics, Trade, and Investment Global Practice of the World Bank, led by Lilia Razlog, Yue Lee, Ying Li, and Jaime Bozo.…

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CORONAVIRUS LOCKDOWN WILL LEAD RO JOB, INCOME LOSSES, FOOD SHORTAGES AND INFLATION,MINISTER WARNS

The restriction in movement of people and goods is beginning to impact on Nigeria’s food supply chain and may lead to job and income losses, the Minister of Agriculture and Rural Development, Sabo Nanono, has said. Nanono said this at the COVID-19/Food Supply Chains Inter-Ministerial Policy Response Meeting in Abuja on Monday. The minister said it was therefore important for government institutions to come up with solutions that would permit easy access to the food supply chain in Nigeria. The inter-ministerial team is made up of the ministries of Defence,…

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CORONAVIRUS: WE ARE TESTING THE WRONG PEOPLE, NIGER GOVERNOR CRIES OUT

From Justina Asishana – Minna Niger State Governor, Alhaji Abubakar Sani Bello has said the focus on a particular group of people to be those who are affected by coronavirus is wrong. According to him, the nation will not get it right if it continues to overlook the most vulnerable set of people to contact the coronavirus and focusing on certain statuses and classes. Speaking on Sunday during a live radio broadcast at the Government House Minna, Bello said, “we are overlooking the most vulnerable ones and are setting our…

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HOUSE OF REPS BAN OPEN WORSHIP ACROSS NIGERIA, BARS VISITORS TO NATIONAL ASSEMBLY

The House of Representatives, after a two-hour debate on Wednesday, banned all forms of open worships across the country over the corona virus pandemic. It said the measure was based on cues from Saudi Arabia, Iran and the Vatican that have banned open worship. The lawmakers said Nigeria should act and suspend such large gatherings. They also banned all visitors from the National Assembly till further notice. With this resolution, constituents will either write their representatives and wait for reply or see members in the constituency offices. Moving the motion…

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CORONAVIRUS: AVOID USE OF CASH, IF YOU CAN, CBN WARNS NIGERIANS

The Central Bank of Nigeria (CBN) on Tuesday advised Nigerians to adopt alternative payment methods like electronic transfers to avoid the spread of Coronavirus. The CBN Director of Corporate Communications, Mr Isaac Okoroafor, gave the advice in a telephone interview with the News Agency of Nigeria (NAN) in Lagos. He said one of the ways people could contact the disease was by touching a surface or object that had the virus and then touching one’s mouth, nose or possibly the eyes. “In times like this, it is advisable for Nigerians…

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NIGERIAN TESTS POSITIVE TO CORONAVIRUS IN US

A Nigerian man has tested positive for deadly Wuhan coronavirus in the United States of America. This was announced on Saturday night by the Mayor of District of Columbia (DC), Muriel Bowser, in a news conference. GLOBAL TIMES learnt that the man whose name is yet to be ascertained, lives in Nigeria and is in his 50s, but had been staying with his family members in Washington recently. According to Bowser, he tested positive in Maryland, where he remains hospitalised. Officials said; “DC Health has been notified by the State…

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