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We won’t be complacent on oil price rise – Adeosun tells W/Bank

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The Minister of Finance, Mrs. Kemi Adeosun, Thursday, in Abuja, held high-level discussions with visiting World Bank Mission, assuring that Nigeria would not be complacent on account of rising crude oil prices.



According to her, the government’s priority was to return the economy to growth and that having achieved that objective, it has been working to accelerate growth rate.

She said, “We are optimistic and vigilant. We are not getting complacent on oil revenue. It is not the volume of money that comes in from oil, but how well it is used for the good of the people.

“As a government, we take the view that growth is very important and our priority was first to get growth and then to accelerate it by creating jobs through improved spending on fiscal infrastructure.

“Another area of focus of the administration is Ease of Doing Business which we believe would significantly increase economic activities in the country and bring about improvement in the quality of life of the people.”

The minister added that the current administration was paying particular attention to electricity, considered critical in expanding the economy, as higher access to electricity would create more business opportunities for more citizens.

Mrs. Adesoun said that the government was not mobilizing enough domestic resources, through tax and that there was a fresh push to raise the bar, while asking the citizens to up their confidence in the administration.

“We are asking the people of Nigeria to trust us”, she said, adding that the decision to increase infrastructure spending, be prudent in expenditure and transparent in the management of public funds would result in improved quality of living in the country.

Earlier, the Head of Mission, Dr. Patrizio Pagano, said that his team was in Nigeria to obtain first hand information on the Nigerian economy and to understand the economic priorities of the federal government.

He said that the mission of 10 World Bank Executive Directors, representing 96 member countries needed to know the nation’s priorities as that would be the only way by which the bank could assist Nigeria in achieving her objectives.

Dr. Pagano stressed the need for synergy between the government and the private sector, as according to him, the administration needed the private sector to achieve the nation’s development plans, especially considering the vibrant nature of Nigerian enterprises.

The team would discuss on-going World Bank projects with both federal and state officials, with a view to working on how to maximize the benefits of its projects in Nigeria.

The officials will also meet the organised private sector in Lagos as well as undertake a tour of LAPO Microfinance project in Lagos and Azura Power Plant in Edo State.


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The visit is expected to provide a first-hand impression of the challenges that both the Federal and State Governments face in implementing development projects, as well as, ensuring good corporate governance World bank projects in Nigeria.

Source: www.vanguardngr.com

National News

Lekki Shooting: ‘Sanwo-Olu Has Been Thrown Under The Bus By Military’ – Fani-Kayode

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Lekki Shooting: 'Sanwo-Olu Has Been Thrown Under The Bus By Military' - Fani-Kayode
'Sanwo-Olu Has Been Thrown Under The Bus By Military' - Fani-Kayode

Femi Fani Kayode

Former Minister of Aviation, Femi Fani-Kayode has reacted to the Nigerian Army’s statement that the Lagos State Government invited the army to enforce a curfew on Tuesday the 20th of October in the State.

Recall that on Tuesday, the 81 Divison of the Nigerian army stated that it was invited to enforce the curfew in Lagos by the state government, although it denied shooting at #EndSARS protesters in Lekki, Lagos.

Also Read: Hoodlums steal Obafemi Awolowo’s glasses from his statue in Lagos (Photos)

This came a day after Governor of Lagos, Babajide Sanwo-Olu stated that the army shot at protesters in Lagos.

Reacting to the statement from the army, the former minister wrote:

“The @HQNigerianArmy claim it was the LASG that asked for soldiers to be deployed at Lekki. The implications of this for
@jidesanwoolu are grave. He has been thrown under the bus by the military.”

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Social Media Will Destroy Us If We Don’t Regulate It: Lai Mohammed

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Social Media Will Destroy Us If We Don’t Regulate It: Lai Mohammed
Social Media Will Destroy Us If We Don’t Regulate It: Lai Mohammed

Minister of Information and Culture, Lai Mohammed

Minister of Information and Culture, Lai Mohammed has expressed that there is a need to regulate social media usage in the country to avoid being led to destruction.

He made this known when he appeared before the House Committee on information, national orientation, ethics, and values to defend the 2021 budget proposed by his ministry, on Tuesday.

The Minister pointed out that it is highly important to regulate social media.

The minister said although the government is not seeking to shut down social media “because the social media has come to stay,” there is a need to check its excesses due to the rise in fake news and misinformation.

“The biggest challenge facing Nigeria today is fake news and misinformation,” he said.

Also Read: Fayemi Presents Over N109 billion As Budget Estimate For 2021

“Based on that, we dedicated an entire national council on information’s meeting to that issue, after which we launched a national campaign against fake news in July 2018.

“We said, then, that the next war will be fought without a shot being fired, but with the use of fake news.

“We didn’t stop there. We went on a tour of all media houses to solicit their support in the fight against fake news. We launched the campaign to regulate social media, which was bitterly contested by the stakeholders. We kept saying that if we don’t regulate social media, it will destroy us. Social media and fake news will not destroy Nigeria.

“The recent #EndSARS war was fought on social media. They mobilised using the social media. The war today revolves around two things; smartphone and data. And these young men don’t even watch television or listen to radio or read newspapers.

“You will be shocked that when you start arguing with your children, they will be quoting social media. So, we need a social media policy in Nigeria and we need to empower the various agencies and we need technology to be able to regulate social media.”

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2023: Buhari Reappoints Mahmood Yakubu As INEC Chairman

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Buhari Reappoints INEC Chairman, Mahmood Yakubu For Another Term

Mahmood Yakubu

President Muhammadu Buhari has reappointed Professor Mahmood Yakubu as the Chairman of the Independent National Electoral Commission (INEC).

President Buhari confirmed the renomination of Prof. Yakubu for a second and final term in a letter to Senate President, Senator Ahmed Lawan on Tuesday.

The Special Adviser to the President on Media and Publicity, Femi Adesina, confirmed this in a statement on Tuesday.

Also Read: Criminal minds threatening Army with travel ban: Buratai

Professor Yakubu’s reappointment is, however, subject to approval by the Nigerian Senate.

“I am pleased to present for confirmation by the Senate, the nomination of Professor Mahmood Yakubu for appointment as Chairman, Independent National Electoral Commission (INEC) for a second and final term,” President Buhari was quoted as saying in the letter.

 

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