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Africa’s Largest Economy: World Bank Tasks FG On Better Living Standards

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Nigeria map

The World Bank, yesterday, reacted to the $510 billion Gross Domestic Product, GDP, announced by the Federal Government on Sunday, which made gives it a new status as Africa’s largest economy and 26th largest in the world.

The World Bank challenged the government to ensure that the figure translates to better living standards among Nigerians.

“What matters is the per capital and what matters is how well our individuals are doing. I think the rebasing is great, at least we have a good sense of how large that economy is.

“Also, it is the most populous country in the region and it is fantastic we have this done but going forward, what matters and very important to everybody is productivity to generate other indicators,” said Mr Francisco Ferreira, Chief Economist of the global bank at a press briefing in Abuja on the Economic Outlook Report on Africa.

According to Ferreira, the World Bank welcomed the new GDP figures and the organization is optimistic of increased Foreign Direct Investment, FDI, into the Nigerian economy.

He, however, cautioned that mere GDP figures in themselves were not enough to attract foreign investors and that the Federal Government must ensure a conducive environment capable of ensuring high returns on investments.

The Chief Economist also noted that the fact that the Nigerian economy has overtaken that of South Africa in size was nothing for the latter to worry about.

“I don’t think South Africa should worry about the recent development, if they want to worry, they can worry about labour situation, strikes and other issues, those things make South Africa less attractive. The Fact that Nigeria is largest economy is nothing to worry about.”

Ms. Punam Chuhan Pole, Team Leader, Africa’s Pulse Team disclosed that economic growth in Sub-Saharan Africa, SSA, continued to rise from 4.7 per cent in 2013 to a forecasted 5.2 per cent in 2014. This performance, she said was boosted by rising investment in natural resources and infrastructure, and strong household spending.

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Unknown Gunmen Kill Ondo Traditional Ruler, Olufon Of Ifon

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Unknown Gunmen Kill Ondo Traditional Ruler, Olufon Of Ifon

Olufon of Ifon

Oba Adegoke Adeusi, the Olufon of Ifon under Ose Local Government Area Ondo State, has been murdered by unknown gunmen suspected to be bandits.

Oba Adeusi was reportedly killed on Thursday evening at a spot around the Elegbeka axis of the town.

According to reports, the monarch was initially kidnapped before he was eventually killed.

Also Read: Shehu Sani Raises Alarm As Bandits Allegedly Kidnap Scores On Kaduna-Abuja Road

The monarch reportedly died at the Federal Medical Centre in Owo, as a result of gunshots he sustained during the attack.

The Police Public Relations Officer in the state, Tee Leo-Ikoro, confirmed the incident to Channels Television.

Describing the event as an unfortunate one, the Police spokesman in the state also revealed that two people in the monarch’s convoy were kidnapped.

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No Pardon For Rapists, Says Sanwo-Olu

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No Pardon For Rapists, Says Sanwo-Olu

Babajide Sanwo-Olu

Governor of Lagos State, Babajide Sanwo-Olu has expressed that there is no pardon for people indicted in reported cases of rape and gender-based violence.

The governor made this remark on Thursday when he received a 54-page compendium on Sexual and Gender-Based Violence compiled by the Stakeholders’ Committee set up by this wife, Dr. Ibijoke Sanwo-Olu.

The Committee was set up to give recommendations on how the fight against sexual and gender-based violence can be won.

Speaking at the occasion, Sanwo-Olu, restated his commitment to protecting the vulnerable demographics and getting justice for victims violated.

Also Read: Don’t Allow Conspiracy Theorists Undermine Lagos Security, Sanwo-Olu Tells Residents

The governor said, “I am delighted by the work done by the Stakeholders’ Committee to bring attention to the problems facing voiceless adults and children in our society. Through your efforts, vulnerable people are building the courage to speak out on offences of sexual violence and heal their wounds.

“We will bring people, who have been perpetrating these crimes, knowingly or unknowingly, to book. We will ensure they never walk freely without the full wrath of the law brought upon them. It is part of our responsibility to ensure that the vulnerable members of our society have a voice and have access to where they can get justice when their rights are violated.”

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Vendor’s Widow Disowns Family Over N500m Lawsuit Against Gbajabiamila

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Vendor’s Widow Disowns Family Over N500m Lawsuit Against Gbajabiamila

Femi Gbajabiamila

Josephine Okereke, wife of the Abuja-based vendor killed by a security aide of Femi Gbajabiamila, speaker of the house of representatives, has rejected the family’s demand of N500 million compensation.

Okereke while speaking to newsmen on Thursday stated that what she wants is justice for her late husband, and not the compensation being sought by his family.

Recall that some days ago, Ifeanyi, her husband, was shot by Abdullahi Hassan, a Department of State Services (DSS) operative attached to the speaker.

Also Read: Family Of Slain Vendor Demands N500m Compensation From Gbajabiamila, Threatens Legal Action

Days after the Speaker promised to ensure justice, the family of the slain vendor wrote the speaker, demanding a N500 million compensation.

Okereke, however, told journalists in Abuja that she was not privy to the N500 million compensation requested by the family.

“I was in my house when within 10 minutes my father-in-law came from Abia, he went out along with his other son and the next day I heard that my husband’s people are demanding N500 million as compensation,” she said.

“I was shocked and asked how will they be doing that and how will the speaker help the children again with such demand. All I want now is that the person that killed my husband to face justice.”

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