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  • Budget deficits, low revenue responsible for rising debt – DMO

    The Debt Management Office (DMO) says decades of operating budget deficits by successive governments is responsible for Nigeria’s high debt profile.

    The Director-General of the DMO, Patience Oniha, said this on Sunday in Abuja.

    According to Oniha, a review of Nigeria’s fiscal data shows that not only has the government operated budget deficits which have been growing, but most of the deficits have been funded through local and external borrowing.

    “The records show that deficits in the annual budgets, including supplementary budgets rose to N10.78 trillion in 2023 from N1.62 trillion in 2015.

    “Between 82 per cent and 99 per cent of these were funded by new borrowing which ranged from N1.46 trillion in 2015 to N8.80 trillion in 2023.

    “These facts confirm that these budget deficits, funded by new borrowings, have been responsible for the rapid growth in the debt stock and the resultant increases in debt service,” she said.

    According to Oniha, this trend could have been avoided or at least moderated if revenues had been higher or expenditures lower.

    She tasked the incoming government of Sen. Bola Tinubu to take cognisance of the situation and prioritise increased revenue generation.

    “The budget deficits would have been much smaller, or Nigeria would have operated on a balanced budget.

    “It is therefore imperative that the incoming government takes into account the perennial budget deficits in the preparation of the Medium-Term Expenditure Framework (2024 – 2026) and the 2024 budget.

    “The government should also accelerate the growth in revenues to ensure debt sustainability,” she said.

  • NECA urges FG to reverse proposed tariff increases for manufacturing

    The Nigeria Employers Consultative Association (NECA) has urged the Federal Government to suspend the implementation of its proposed tariff increases in the manufacturing sector.

    In a statement issued in Lagos, its Director-General, Mr. Adewale-Smatt Oyerinde, also called for the reversal of the 2023 Fiscal Policy Measures (FPM).

    He advised the government to revert to the 2022 FPM roadmap designed to lapse in 2024.

    The approved 2023 FMP includes Supplementary Protection Measures for the implementation of the ECOWAS Common External Tariff (2022 – 2026).

    It includes increased excise duty on alcoholic beverages, cigarettes and tobacco products; introduction of excise duty on single-use plastics and Import Adjustment Tax levy on vehicles of 2000 cc and above.

    Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed confirmed President Muhammadu Buhari’s approval of the 2023 FPM on May 12.

    NECA stated, however, that the newly-introduced FPM and tariff increases were not only worrisome, but also landmines for businesses in the affected sectors.

    “While the government’s new FPM will largely affect manufacturers, it also has the potential to disrupt organized private sector’s value-chain with consequential effects on Nigerians as a whole.

    “While we understand government’s revenue challenges, the proposed increases will spike production costs and reduce the competitiveness of Nigerian manufacturers in local and international markets.

    “With recent reports of unemployment rate hovering above 40 per cent, the economy will be further hard-pressed to withstand the likely loss of jobs that will follow these increases,’’ NECA stated.

    Its director-general stressed that the proposed increases, if implemented could aggravate smuggling and stifle growth of businesses in affected sectors.

    Oyerinde added that it could promote the production of fake products, reduce purchasing power of Nigerians and ultimately reduce government’s projected revenue across board.

    “With more than 60 different taxes and levies currently being paid by businesses, the best that government can do is not to overburden the sector or cause relocation of many more to other climes.

    “With about 20 bills pending at the National Assembly with financial implications for businesses, government will do well not to overburden the organised private sector.

    “The 2023 FMP, as proposed will neither promote economic growth nor achieve the long-term revenue projection of government,’’ Oyerinde stressed.

  • Celebrities, fans mourn Yoruba movie actor, Afolabi who died at 49

    Celebrities, fans mourn Yoruba movie actor, Afolabi who died at 49

    Barely 24 hours after the death of popular Nollywood actor, Obinna Nwafor, famously known by his stage name, ‘Saint Obi’, a Yoruba popular actor and filmmaker, Murphy Afolabi also died on Sunday.

    Afolabi died after he collapsed in the bathroom at his residence in the Ikorodu area of Lagos State. Afolabi is the third Nollywood actor to die within a week. Saint Obi died on Sunday, May 7, while veteran Yoruba actor, Mukaila Adedigba, popularly known as Alaafin Oro, died on Saturday.

    According to filmmaker and producer, Sodiq Adebayo, Afolabi had been ill for a while and was discharged from the hospital two days ago. Sodiq, son of veteran Nollywood actor, Adebayo Salami, directed some of Afolabi’s films including Osumare and Omo Mushin.

    The thespian was born on May 5, 1974 and had celebrated his 49th birthday last week, which was the last post on his Instagram page. The Osun-born actor carved a niche for himself with his use of rich Yoruba proverbs and unadulterated indigenous sayings.

    Afolabi’s death came as a rude shock to thousands of his fans and colleagues, who have started paying tributes to him on social media. A filmmaker and president of the Yoruba movies directors’ guild, Seun Olaiya, shared the sad news on a WhatsApp platform populated by filmmakers. The Managing Director of Corporate Pictures Nigeria Limited, Abdullahi Abdulrasaq, also confirmed it.

    Olaiya wrote, “I swear to God just before the news, I was still hailing him. This is really a rude shock to me.” Showbiz personality and convener of the Best of Nollywood Awards, Seun Oloketuyi, also confirmed the news. He said, “It is true. He passed away after a fall in his bathroom at his house in Ikorodu this morning.”

    Damola Olatunji shared his picture on Instagram with the caption: “Murphy but why. We all celebrated your birthday on the 5th of May not knowing you were saying goodbye.

    “Vanity upon vanity, everything we do is ‘vanity’, empty, futile and short-lived. It doesn’t matter if you’re wise or a fool, ultimately, because everyone ends up dying. Rest on bruv. Sunnnre ooo.”

    Nigerian comedian, Gbenga Adeyinka, also shared a picture of the late actor with the caption; “I am in total shock. May God grant you eternal rest Murphy.”

    Actor and producer, Kunle Afod, wrote, “Black weekend in the industry. We lost four people in the space of two days… RIP Murphy Afolabi, RIP Saint Obi, RIP Adidigba, RIP Techno sound.”

    Also, Olaniyi Afonja, popularly known as “Sanyeri”, said: “It is so shocking to hear the death of my wonderful friend, Murphy Afolabi. I pray God be with the family he left behind. Murphy rest in perfect peace.”

    According to reports reaching Nigerian Anchor, the Osogbo-indigene would be buried in his hometown today, May 15th. May his soul rest in peace. Amen

  • Sudan: Nigerian embassy facilitates students’ transfer to Egyptian varsities

     

    The Embassy of Nigeria in Cairo, Egypt is to facilitate the transfer of Nigerian students from Sudanese universities to Egyptian universities.

    The embassy, in a statement on Sunday, said this was in the light of requests by both parents and students caught in the ongoing conflict in Sudan.

    The embassy said that it was collaborating with the Central Administration for International Students (Wafeden), under the Egyptian Ministry of Higher Education and Scientific Research to achieve this.

    “In this regard, Nigerian students from Sudanese Universities who are interested in transferring to Egyptian Universities are expected to send their full names, faculties required, academic level/year completed, transcripts of the academic years completed.

    “(They should also send) passport data pages and contact details (phone number and email) to enable the embassy and the Wafeden start working on them, before the portal for international transfers opens.”

    The embassy cautioned students that any of them that transfer to Egyptian government universities would not be eligible for an Egyptian Government Scholarship.

    It also provided a link for the transfer for interested students to fill and attach the required documents between May and June in order to join the 2023/2024 academic session commencing in September.

    “https://docs.google.com/forms/d/e/1FAIpQLSey- OAIR3UsduSWSIQsMkEn2b2fJ9cn1 Bmq12AdCZSU1x1HEg/viewform?usp=sf_link.

    “After filling the above form, interested students should also send their below details and documents to this email: nigembegysch@yahoo.com with the following:

    “a. Full Name:
    “b. Faculty required:
    “c. Academic Year/Level Completed:
    “d. Transcripts of the Academic Years/Level Completed (attachment)
    “e. Passport Data Page (attachment) f. Contact Details: Phone number(s) and email address.”

     

  • Senate Presidency:  Sanwo-Olu receives ‘Stability Group’, supports Akpabio

    Lagos State Governor, Babajide Sanwo-Olu on Sunday expressed support for the ambitions of Sen. Godswill Akpabio and Sen. Barau Jibrin as President and Deputy President of the 10th Senate, respectively.

    Sanwo-Olu expressed his support at a consultative visit to Lagos House, Marina, when he received members of the “Stability Group’’, consisting 69 senators-elect, who already endorsed Akpabio and Jibrin.

    He said the All Progressives Congress (APC) nomination process to pave the way for election of senate leadership was in order.

    He noted that Akpabio’s team possessed the political credentials and leadership qualities to bring about uncommon transformation in the country.

    The governor said he aligned with APC’s zoning decision having read the legislative agenda initiated by the Akpabio-led group to raise the bar of law-making.

    He stressed that it was instructive that the group was prepared to collaborate with the incoming administration of the President-elect, Sen. Bola Tinubu.

    He urged the senate leadership nominees to make purposeful legislations their priority, while maintaining harmonious working relationships with other arms of government without compromising legislative independence.

    “Having discussed plans and agenda presented by `Stability Group’ led by Sen. Akpabio extensively, I believe it is appropriate that we, in Lagos State give them our official endorsement.

    “This is a project for the stability of the country which will benefit Nigerians, especially the people who elected these distinguished lawmakers-elect.

    “They are committed to working harmoniously with the Executive arm of government and this will bring about a win-win for all our citizens and for democracy.

    “We are encouraging other lawmakers-elect who are yet to be on this group to fall in line.

    “I also appeal to the `Stability Group’ to continue its consultation and collaboration and not to take anyone for granted,’’ Sanwo-Olu said.

    He added that members of the group had assured him that they would make the senate leadership as inclusive as possible.

    “The diversity they are preaching is reflected in the number of senators-elect in the group; it is not one party. The membership cuts across all parties that are represented in the National Assembly.

    “I believe the incoming 10th National Assembly will be about great possibilities and shaping new course for the nation.

    “Given the outstanding profile and experience Sen. Akpabio and his group are bringing to the table, I believe there will be new standards and new legislative records will break.

    “I will only urge the incoming senate leadership to surpass whatever achievements recorded by the 9th Senate,’’ the governor added.

    Akpabio, a former Senate minority leader representing Akwa Ibom Northwest, described Tinubu as “God’s own choice’’ for the country’s leadership.

    He noted that the incoming Tinubu administration required the support of dynamic legislative leadership to work together to deliver promises made to Nigerians.

    The former Akwa Ibom governor said he would deploy multi-faceted, multi-dimensional and national approaches to law-making, if he became senate president.

    He said that the Senate under his leadership would have a complete control over its affairs without being confrontational with the Executive arm of government.

    Akpabio said that he and his proposed deputy would work with the Tinubu administration to make the country better and make laws that would support development.

    “The `Stability Group’ of the 10th Senate is made up of men and women of integrity. We came to present ourselves to the Lagos State governor and to solicit his support.

    “He has thrown his support behind us; he has shown so much hospitality. Today, he endorsed my humble self as President of the 10th Senate and Sen. Jibrin as Deputy Senate President-designate.

    “We are not taking this support for granted. This team has senators-elect from different political backgrounds and parties,’’ he said.

    Akpabio added that the group was determined to ensure collaboration and support for the incoming administration of Sen. Tinubu whose presidency is a nationalistic project that will bring positive development to Nigeria.

    “We want Sen. Tinubu to replicate what has happened in Lagos in the last 24 years of democracy to cover the rest of the country.

    “Particularly, we are challenged by the economy; we want to see serious improvement in Internally-Generated Revenue of the nation to enable us to repay our loans.

    “We want to see more foreign direct investments. We will support Tinubu through favourable legislations to ensure Nigeria remains investment-friendly and the business destination in Africa,’’ Akpabio stressed.

  • NNPCL nabs 6 suspected crude oil thieves, destroys barge

    The Nigerian National Petroleum Company Limited (NNPCL) has intercepted an illegal Crude Oil Barge and arrested six suspected crude thieves in Warri, Delta State.

    Tantita Security Services Nigeria Limited, a private security contractor, engaged by NNPCL made the arrests.

    Speaking, Captain Warredi Enisuoh, Executive Director, Operations and Technical of the Security firm said MAWE Services had approval from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to provide services within the confines of lifting sludge.

    The security contractor and the Nigerian Security Operatives also set ablaze the 1,000 metric tonnes capacity barge at a final execution point in Oteghele, Delta state.

    The barge was destroyed shortly after an inspection of the sites of Mawe Service Limited and associated barge with illegal crude oil.

    On the inspection were some officials of NNPC Ltd. and Tantita Security Services, Journalists, the Nigerian Army and Naval officers, among others.

    The team visited the Mawe Services Jetty, illegal crude oil dump site and Fenog Jetty for Illegal Crude Oil Barge inspection.

    Enisuoh said on the fateful voyage, intelligence reports received by Tantita Security Services Nigeria Ltd and Mason Engineering indicated that the MAWE Yard was being used for activities outside its approval limits.

    He said surveillance and intelligence also revealed that a 1000 metric tonnes capacity barge (FP AMANGWU) was coming to berth alongside its jetty, loaded with illegal crude oil declared as sludge.

    The captain explained that the barge was towed by an unknown Tugboat into Mawe Services Limited’s Jetty and left.

    “A team of Tantita Security Services Operatives continued to monitor the Jetty for suspicious activities. It was observed that a Sewage Truck with Plate No. JR7750XA visited the Jetty twice.

    “During its third visit on May 12, 2023, the Truck was accosted by the Tantita Security Operatives keeping constant vigil over the area. Upon inspection, the substance found inside the tank was not sewage, rather, crude oil.

    “The driver was arrested and handed over to government security operatives.

    “The driver later revealed the destination of the contents, which took us to another yard inland, also operated by Mawe Services Limited.

    “Within the Mawe Services Limited’s premises, there were two metallic cylindrical tanks of about 45,000 liters capacity, each.

    “Both tanks were inspected and one was found to be filled up with Crude Oil,”.

    He said the driver of the Truck confirmed that he had been transferring the contents of the barge into the tank that was filled.

    He said that an inspection of the Yard Security Logbook showed that the Truck visited the location severally while the contents of the Truck were well spelled out as “CRUDE OIL”.

    He explained that the perpetrators usually loaded the crude from the big barge in small gallons, batch by batch then transfer to illegal refineries.

    “One new method they use now is that they obtain documentation and authorization from the government to fool security agencies, then go on to do other illegal jobs,” the captain said.

    The captain further explained that most times when the suspects were being arrested, they would claim to be newly employed by their companies whereas they were already trained to operate in that line.

    “At the same time I feel sad because the big players always hide behind them while the small errand boys are literally the victims.

    “I believe the law enforcement agents will get to the root of the matter,” he said.

    He said that part of the crude had been evacuated while the rest would go through combustion process.

    Meanwhile, the suspects who were paraded by the combined security team, said they were not aware of any illegal badge of crude oil but were sent by their companies to evacuate waste water with oil from the barge.

    Mr Daniel Dickson, one of the suspects working with First Priority Research Resources International Ltd, the owner of the barge said the barge was hired through Petralon 54, located at Port Harcourt, Rivers State, to cargo crude from Port Harcourt to Warri in 2022.

    Dickson, who said that it was not all the compartments in the barge that contained crude said that it had about 700 barrels of crude oil but in the process of  evacuation in May 2023, the security agents caught them. 

     

  • Nollywood actor, Saint Obi is dead

    Popular Nollywood actor, Saint Obi, has passed on at the age of 57 after a protracted illness.

    It was reported that he died early in the week after battling an undisclosed illness for several months with no successful treatment.

    The Actors Guild of Nigeria is however yet to make a statement as the family reportedly have a little disagreement hence the delay to make a formal announcement.

  • Premier League: Southampton relegated after 0-2 loss to Fulham

    Premier League club, Southampton on Saturday became the first team to be relegated in the 2022/23 season as Fulham ended their 11-year stay in the top flight after a home defeat.


    Aleksandar Mitrovic, making his return from an eight-game ban for pushing referee Chris Kavanagh, sealed Saints’ fate with a stooping header after Carlos Vinicius’ opener.


    The hosts could have few complaints about the outcome after producing a muted performance despite knowing they had to win to have any chance of pulling off an unlikely survival mission.


    They did have a Carlos Alcaraz strike disallowed for a marginal offside just before Vinicius broke the deadlock but the confident Cottagers were comfortably the better side.


    Willian’s first-half volley was cleared off the line by fellow Brazilian Lyanco, who had earlier been fortunate to escape a video assistant referee’s penalty check for handball.


    But Vinicius tucked home after Lyanco’s clearance ricocheted to him kindly off Harrison Reed and Mitrovic nodded in his 12th league goal of the season from Harry Wilson’s cross.


    Southampton, lethargic throughout, had no response after falling behind and will be playing Championship football next season for the first time since 2012.

  • U-17 AFCON: CAF announces Best XI for group phase 

    U-17 AFCON: CAF announces Best XI for group phase 

    The Confederation of African Football (CAF) Technical Study Group (TSG) has named its Best XI of the group stages at the TotalEnergies U17 Africa Cup of Nations, also naming the best coach and player so far in the competition.  

    Two-time champions Mali have three players in the Best XI following their impressive run in the tournament so far.

    Senegalese tactician Saliou Dia Serigne has been named the best coach, having led his side to the semis for the first time ever with an unbeaten record, while his skipper and tournament top scorer, Amara Diouf has been named the best player of the group phase. 

    Diouf has scored five goals so far, breaking Victor Osimhen’s 2015 goal scoring record of four goals.  

    Mali’s Bourama Kone, who has kept three clean sheets so far in the competition, is selected as the best goalkeeper. He has the highest save percentage rate in the competition thus far.  

    His defense is made up of Nigeria’s right-back Yahaya Lawali, who was twice named man of the match in the group stages while Burkina Faso’s Lassina Traore has been selected as the best left-back so far in the competition.  

    Senegal’s Fallou Diouf forms part of a backline that has not conceded a single goal in the tournament so far, and Morocco’s skipper Abdelhamid Ait Boudlal have been named as the best two centre-backs.  

    Morocco’s anchorman Adam Chakir has been crucial for the Atlas Cubs so far in the competition, dictating the tempo and sits at the basement of the Best XI’s midfield.  

    Mali’s Angel Martial Tia, scorer of the opening goal against Congo in the quarters, as well as one half of the Wumba Niati Congolese twins, Abiga, make the midfield three.  

    Senegal skipper Diouf, Burkina Faso’s Souleymane Alio and Mali’s Mamadou Doumbia complete the front three.

    Doumbia has scored three goals so far in the tournament while Alio has two.

    The tournament will enter the semi-final phase on Sunday with Mali, Senegal, Morocco and Burkina Faso searching for a place in the final.

    The final will be played on Friday 19 May 2023 at Nelson Mandela Stadium in Algiers at 22h00 local time (21h00 GMT). 

     

  • Terrorism/Crime: Army to deploy 6,251 new soldiers– COAS

    The Nigeria Army has said the newly-recruited 6,251 soldiers would be deployed to counter activities of criminal elements and terrorism in the country.

    The Chief of Army Staff (COAS), Lt.-Gen. Faruk Yahaya made the disclosure on Saturday in Zaria, Kaduna State at the passing-out parade of the 84 Regular recruits intake.

    Yahaya noted that Nigeria was faced with numerous security challenges occasioned by the activities of Boko Haram/ISWAP terrorists, bandits, kidnappers, separatist agitators, religious extremists and other criminal elements.

    “The army, with the support of the Federal Government will continue to do everything possible to surmount the various security challenges confronting the country until Nigeria becomes safe for all.

    “The adoption of cyclic training, which allows each recruit to undergo every aspect of training, has made you a strong force to be reckoned with,’’ Yahaya told the recruits.

    He said with the passing-out, the strength and combat efficiency of the Nigerian Army would be enhanced with 6,251 well-trained men.

    The COAS reiterated his commitment and support to improve the standard of training as well as the welfare of recruits, instructors and staff of Depot, Nigeria Army.

    He tasked the new soldiers on loyalty, selfless service, courage, discipline, integrity and respect for others which he described as the core values of the Nigerian Army.

    “You are expected to always do your utmost best to sustain these values through high professional standards in order to enhance your individual ability and our overall combat-readiness.

    “I urge you to assimilate and retain the mental, physical and spiritual training given to you at this institution,” Yahaya charged.