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Category: General News

  • Engage in real estate business, company urges youths

    Engage into real estate business, company urges youths

    Training

    By Alex Enebeli

    Enugu, June 9, 2024 (NAN) An Enugu based company, Set Reality Limited, on Sunday trained 160 Enugu youths on the rudiments of real estate business aimed at making them financially independent.

    Speaking during the training which held in Enugu,the Managing Director of the company, Mr Ugochukwu Okoronkwo, said the training was motivated by the core goal of the organisation to empower youths in Enugu free of charge on how to make money through real estate.

    He said it was a business they could do on the side in addition to what they were doing and earn huge amount of money from it.

    According to him, their objective is to see that Nigerian youths acquire knowledge of finance and take advantage of real estate industry that will enable them make so much money to take care of their needs and people around them.

    Noting that the company specialized more on human capacity development and empowerment on real estate, Okoronkwo said, “We do more of building people than building property.

    “Our doors are open to anybody that wants financial empowerment as we teach and mentor them to take advantages in real estate industry,” he said.

    The managing director equally urged the public to patronise their property at Prime View and Akuabata Estates at 9th Mile Enugu, assuring that they were genuine with certified documents.

    Highlighting the opportunities available in real estate, Mr Francis Uka, the Chief Operation Officer, Set Reality, advised the participants to become a realtor- the one who broker deal between a buyer of a property and a seller for reward and commission in a real estate business.

    He said they could get commission as high as five, 10 to 15 per cent of the total sum paid for a property.

    “It is a business that can be done with zero amount but pays in millions of naira as well as done in their comfort zones.

    “Basically, we have over 160 participants and real estate business in Enugu is very lucrative given its landmass and people from the southeast wants to own property in Enugu.

    “Even with the issues of government demolition that make people apprehensive and great impact on real estate business, the industry is not slowing down as the value of landed property in the state keep jumping,” he said.

    He pointed out that there was massive investment opportunities in real estate business that youths could explore.

    “At the estates we have, we offtake it from the communities with understanding that we buy and sell.

    “We provided survey for the property and all the registration with the ministry of lands.

    A beneficiary, Esther Egbo, said the training was impactful stressing that he had benefited a lot from the company’s training.

    While thanking the organisers, Egbo said youths engaging in real estate business would create them massive employment. (NAN) (www.nannews.ng)

    AAE/MNA

    Edited by Maureen Atuonwu

  • Tinubu appoints leaders for National Council on Climate Change

    Dr Nkiruka Maduekwe, Director-General/Chief Executive Officer of the National Council on Climate Change (NCCC)

     

    Appointments

    By Salif Atojoko

    Abuja, June 9, 2024 (NAN) President Bola Tinubu has approved the appointment of Dr Nkiruka Maduekwe as the Director-General/Chief Executive Officer of the National Council on Climate Change (NCCC) pending confirmation by NCCC’s Supervisory Council.

    Chief Ajuri Ngelale, Special Adviser to the President, Media and Publicity, announced the appointment in a statement on Sunday in Abuja.

    He said the appointment was in accordance with the commitment of the President to actualise Nigeria’s green industrial vision.

    Ngelale said it was also to boost investor confidence and unlock sustainable economic value through various climate finance instruments.

    He said the President also approved that Maduekwe, 39, would serve as the Co-Chairperson of the Intergovernmental Committee on National Carbon Market Activation Plan (NCMAP).

    “Maduekwe holds a Bachelor of Law degree; a Master’s degree in Environmental Law & Policy from the University of Dundee (UK), and a Doctorate degree in Law from the University of Hull (UK).

    “She has over 15 years of national and international experience in climate policy development and project implementation. She previously served as Nigeria National Coordinator, Climate Parliament.

    “Climate Parliament is an international, multi-partisan network of legislators working worldwide to help solve the climate crisis and accelerate the transition to renewable energy.

    “Maduekwe was also the legal adviser to the NCCC Director-General,” the statement read in part.

    Ngelale said that the President also approved the appointment of Mr Ibrahim Abdullahi Shelleng, 40, as the Senior Special Assistant to the President on Climate Finance and Stakeholder Engagement, Office of the President.

    Mr Ibrahim Abdullahi Shelleng, Senior Special Assistant to the President on Climate Finance and Stakeholder Engagement, Office of the President


    Shelleng is seconded to the National Council on Climate Change (NCCC) Secretariat, where he will handle all matters related to Climate Finance and Stakeholder/Donor Relations.

    Ngelale said that the President also approved that Shelleng should assume the position of Secretary of the Intergovernmental Committee on National Carbon Market Activation Plan (NCMAP).

    “He will serve as a member of the Presidential Committee on Climate Action and Green Economic Solutions, as well as the Presidential Steering Committee on Project Evergreen.

    “Shelleng, who holds a Master’s degree in Business Administration (MBA) from Ahmadu Bello University, Zaria, has served in leading roles across multiple financial institutions.

    “He was Head of Business Development for the Nigeria Mortgage Refinance Company PLC (NMRC) before his appointment as Senior Special Assistant to the President,” the statement read in part.

    Ngelale said that the President had also approved the appointment of Mr Olamide Fagbuji, 44, as the Senior Special Assistant to the President on Climate Technology and Operations, Office of the President.

    Senior Special Assistant to the President on Climate Technology and Operations, Office of the President

     

    “He is seconded to the National Council on Climate Change (NCCC) Secretariat, where he will oversee the digitalisation of a new open procurement process and cross-departmental procedural optimisation initiative.

    “Fagbuji served as Special Assistant to the President on Economic Matters under the previous administration, and was most recently the Technical Adviser to the Director-General of the National Council on Climate Change (NCCC) on Policy Research and Strategy. He is a policy analyst and computer scientist.

    “By the directive of the President, the aforementioned appointments take immediate effect.

    “The President expects the new appointees to bring their expertise and discipline to bear in these very important assignments in pursuance of the nation’s aspiration on green industrial development and climate action for sustainable growth and national prosperity,” the statement read. (NAN) (www.nannews.ng)

    SA/SOA 

    Edited by Oluwole Sogunle

  • Group urges Gov. Kefas to probe alleged diversion of FG palliatives

    Group urges Kefas to probe alleged diversion of FG palliatives in Taraba

    Palliatives

    By Martins Abochol

    Jalingo, June 9, 2024 (NAN) A group, Taraba Concerned Citizens (TCC), has urged Gov. Agbu Kefas, to investigate alleged diversion of Federal Government (FG) palliatives to 16 local government areas (LGAs) and two development areas of the state.

    The group, through its coordinator, Mr Timothy Gayus, and the secretary, Hamisu Salejo, made the call while speaking to newsmen in Jalingo on Sunday.

    TCC called on Kefas to probe the local government council chairmen saddled with the responsibility of distributing the palliatives to the vulnerable.

    The News Agency of Nigeria (NAN), reports that there have been widespread allegations of diversion of food palliatives sent to Taraba by the Federal Government, to cushion the effects of the economic hardship.

    The items include bags of rice, maize, sorghum, garri and fertilisers, which were allegedly found on sale in major markets in the state.

    “We demand to know why the palliatives meant to be distributed free to the masses have dominated all the major markets in the state without getting to the locals.

    “Our question is that who sold them to the marketers? The palliatives were given to the state to cushion the present hardship the people are passing through, and not to be sold.

    “The people are hungry, but the local government council chairmen chose to sell the palliatives.

    “The people behind the diversion of the palliatives must be exposed and made to face the wrath of the law, in order to serve as deterrence to others,” the group said.

    When contacted by some of the journalists on phone, Mr Saviour Nokun, Commissioner for Humanitarian Affairs and Special Duties, said that it was the LGAs that first got the allocations.

    Nokun assured that the allegations would be investigated and the culprits brought to book.

    “Due to widespread outcry of alleged diversion of the commodities, I personally visited the Jalingo main market and found the commodities in some market stalls.

    ”This is sad and I want to assure you that the government will do everything possible to unmask those behind the diversion,” the commissioner vowed.

    Available records from the ministry indicate that Wukari, Sadauna, Jalingo and Gasol LGAs, were given 850 bags each of rice, maize, milet and sugar; while the rest of the LGAs were allocated 800 bags of each of the items. (NAN) (www.nannews.ng)

    MK/TOA/DOR
    ============

    Edited by Taiye Agbaje/Nyisom Fiyigon Dore

  • Otedola joins Kendall Jenner, Viola Davis as L’Oréal Paris ambassador

    Otedola joins Kendall Jenner,Viola Davis as L’Oréal’s ambassado

    Temi Otedola, the African Digital Brand Ambassador for L’Oréal Paris Makeup

     

     

     

     

    Ambassador

    By Aderonke Ojediran

     

    Lagos, June 9, 2024 (NAN) One of the leading cosmetic brands in the world, L’Oréal Paris, has unveiled Nigerian actress, Temi Otedola, as its new ‘African Digital Brand Ambassador’.

     

    This was disclosed in a statement signed by Issima Oniangue, the General Manager for Makeup in the Sub-Saharan Africa Zone at L’Oréal, made available to the News Agency of Nigeria (NAN) in Lagos on Sunday.

     

     

    “Temi’s unique style, confidence, and passion for beauty perfectly embodies the L’Oréal Paris ethos of empowerment and sophistication.

     

     

    “This partnership marks a new era of glamour and innovation in beauty for the region as we continue to celebrate and cater to the diverse beauty of African women.

     

    “We are excited to inspire and bring the best of beauty to every corner of the continent as the number one beauty brand worldwide, L’Oréal Paris has empowered women for more than 110 years with our state-of-the-art products backed by scientific advances,” she said

     

     

    She further stated that their partnerships and initiatives are dedicated to promoting equal rights and self-esteem.

     

    “Because I’m Worth It”,  the L’Oréal Paris slogan coined in 1971, is no less relevant today,” she said.

     

    “For many years, it has honoured extraordinary women who volunteer their time to serve their communities. Temi Otedola’s journey with L’Oréal Paris Makeup promises to celebrate beauty, empowerment, and communities.

     

     

    “Temi’s journey with L’Oréal Paris Makeup promises to celebrate beauty, empowerment, and cultural richness, resonating with audiences across Sub Saharan Africa and beyond.

     

     

     

    “This is a historic partnership as Otedola will serve as the new digital ambassador for Africa and the first ever Nigerian to represent the iconic brand.

     

     

    “Standing alongside fellow ambassadors including Kendall Jenner and Viola Davis, this collaboration marks a significant milestone in celebrating beauty in all its forms across the African continent.

     

     

    “As the face of L’Oréal Paris Makeup, Temi will headline the latest Infallible Makeup Range campaigns, showcasing her unique style and celebrating the diverse beauty of Africa,” she said.

     

     

    In her response, Otedola expressed excitement and honour as she promised to be a great ambassador.

     

     

    “Words cannot describe how honoured I am to partner with L’Oréal Paris Makeup. L’Oréal Paris was amongst the first beauty products I was introduced to as a young girl playing with my mother’s makeup. I have grown up loving their products and deeply respecting the company’s values and vision.

     

     

    “The L’Oréal Paris woman is someone I deeply resonate with, confident, unapologetic, and always striving to make a difference in the world.

     

     

    “I’m so excited to begin this beautiful journey with a brand that truly has proven its excellence for years,” Otedola said. (NAN)(www.nannews.ng)

    OAF/FAA
    ========
    Edited by Folasade Adeniran

     

     

  • Seme border skills acquisition centre kicks off July – Customs

    Customs to establish skills acquisition centre at Seme border
    Customs Area Controller, Seme Command, Timi Bomodi,

    Empowerment
    By Aisha Cole/ Raji Rasak
    Seme (Lagos State), June 9, 2024 (NAN) The Nigeria Customs Service (NCS) Skills Acquisition Centre for Seme Border and neighboring communities will be fully operational in July.

    The Customs Area Controller, Seme Border Command, Comptroller Timi Bomodi, said this in an interview with the News Agency of Nigeria (NAN) on Sunday in Seme.

    The centre which is part of the NCS Corporate Social Responsibility (CSR) was established for youths at Seme to enable border community residents embrace legitimate business rather than smuggling.

    According to the controller, the centre will be completed before the end of June for the full take-off of the scheme in July.

    “The establishment of the skills acquisition centre is to create opportunity for the people around the border community to earn a living without smuggling.

    “This will give them opportunity to develop skills that they can easily learn and monetise when they deploy those skills.

    “The skills are not complicated. They are going to learn how to make shoes, clothes, hairdressing, computer training, furniture, car repairs etc.

    “We are building a big complex. We are at the advanced stages of getting all the facilities together.

    “We know that if we can attract just 10 per cent of border community dwellers, that 10 per cent will significantly impact on the way these people think and how they go about trying to earn a living.

    “Customs have told them that once they engage in legitimate trade, they will be engaging in something that has potential for domestic growth,” Bomodi said.

    He said that once people knew that they could get a certain product at Seme Border area, they would attract attention and domestic growth from anywhere in the world.

    Bomodi said that it would be difficult to keep smugglers away from their illegal activities if there were no alternative means of livelihood for them.

    The Seme border customs boss said the skills acquisition centre would be inaugurated by the Comptroller-General of Customs.

    He urged youths at the border area to take advantage of the scheme by deploying skills after learning than engaging in illegal activities.

    Bomodi said the Seme skills acquisition facility was a pilot project to be replicated in other borders across the country.

    He said that engaging border youths on skills acquisition would have very positive impact on the nation’s economy. (NAN)(www.nannews.ng)
    AIC/ROR/CHOM/AJA
    =================
    Edited by Chioma Ugboma/Adeleye Ajayi

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  • NLC strike, Real Madrid UCL triumph, others top news trends

    Trends
    By Oladele Eniola

    Lagos, June 9, 2024 (NAN) Spanish professional football club, Real Madrid, kicked off the weekly news trends as they won their 15th Champions League title with a 2-0 victory over Borussia Dortmund on Saturday, June 1.

    Madrid had won six titles in the past 11 years while Dortmund were looking for their second championship in the club history.
    The much-anticipated match was played at the Wembley Stadium.
    Dortmund outclassed Madrid in the first half as they created multiple scoring chances but didn’t take them as the game went into halftime  in a scoreless draw.
    Madrid began to assert control into the second half as Dani Carvajal finally broke through with a header off a corner kick from Toni Kross who was playing his last game for Madrid.
    Shortly after, Vinicius took a pass from Jude Bellingham and sent in for a 2-0 lead as Toni Kross retired a Real Madrid Legend as he closed with season with a Champions League and La Liga Trophy.

    On Sunday, June 2, American professional boxer, Deontay Wilder, was handed another loss by Zhilei Zhang in a fifth round knockout at Kingdom Arena in Riyadh, Saudi Arabia.

    The battle of the power puncher did not favour Wilder from the outset as both fighters strayed the bout tentatively but Zhang’s offence was more effective in the early going.
    Wilder was unwilling to let his hands go in the fight and Zhang took advantage of it as he dominated the first four rounds.
    In the fifth round, Zhang landed a glancing right hand and finished it off with a crushing fight that sent the defenceless Wilder tumbling to the canvas thereby handing him his fourth defeat in five matches.
    Many have predicted that the latest defeat has ended Wilder’s career with the latter admitting before the match that he may retire if he lost.
    The day also witnessed Islam Makhachev successfully defended his lightweight title at UFO 302, as he defeated veteran Dustin Poitier with a fifth round submission.
    In the fifth round of the fight, the Russian was spoting a substantial forehead cut as a result of repeated takedown by Poirer in the third and fourth round.
    Makhachev completely turned the tables on Poirer by winning, by submission of the final round and had prevailed in 14 straight UFC fights, a steak that started with a victory over Chris Wade on Sept. 17, 2016.
    On Monday, millions of Nigerians were without electricity after the national grid was shut down as part of a general strike by the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) over the hike of electricity tariff and lack of consensus on a new minimum wage.
    The strike also hounded activities in critical sectors of the economy as schools, businesses , hospitals and airports were shut as long queues returned to fuel stations.
    On Tuesday, the NLC and TUC suspended their industrial action for five days after a meeting between the labour leaders and the Federal Government.
    Labour noted that the suspension of the strike was taken to give the government time to deliberate on the unresolved issues at hand.
    On the same day, actress Toyin Abraham said she had decided to keep her political affiliations private in the future, adding that she had learnt her lesson following a social media exchange that occurred on X , formerly Twitter.

    The exchange began when an X user identified as Otunba (@ManLikeIcey), wrote, “Maybe one day Toyin Abraham will divulge the plans Bola Tinubu shared with her to the public. I strongly believe we deserve to hear. Thank u @toyin_abraham1.”

    In response, Abraham said  that she had been assured of “good governance and happiness for everyone by Tinubu’s camp”.

    ”You asked me in a polite way, so, I will definitely answer you, of course, I was told and promised good governance and happiness for everyone and which I believe,” she stated.

    She expressed reluctance in bearing  the brunt of public scrutiny should the promises fail to materialise.

    “If things didn’t go well why do I have to be the one to suffer for it because I remember I voted (ex-president) Jonathan and I was bullied but I didn’t put blame on anyone after everyone chose (ex-president) Buhari. So, please why would they be cursing and trolling me every time.”

    The X user asked further,  “Thank you for your prompt response. Do you believe he has failed at the moment in governance or not?”

    Abraham replied, “I have faced my life and career because I am not a politician and I’m not in government, I have learnt my lesson never ever to be open with my choice again.”
    On Wednesday, Kayode Egbetokun, Inspector-General of Police, appointed Yetunde Longe as the Secretary of the Nigeria Police Force (NPF).
    With this appointment, Longe became the first female secretary of the force.
    On Thursday, Garett Southgate, the manager of the England Senior team announced the final 26-man group for the UEFA Euro 2024 tournament commencing in Germany next week.
    The big names to miss out are  Harry Maguire, who was removed due to injury while Jack Grealish did not make the squad due to lack of playing time at club level.
    Others who did not make the list are : James Maddison, Curtis Jones, Jaread Branthwaite, Jarell Quansah and James Trafford.
    Surprisingly, Manchester United left back, Luke Shaw, who has been largely unavailable for his club in the just-concluded campaign, made the final equal while youngsters, Kobbie Maino and Adam Wharton were also included.
    Still in the world of sports, the Super Eagles played out a 1-1 draw with the Bafana Bafana of South Africa at the Godswill Akpabio Stadium in Uyo on Friday.
    The result was Nigeria’s third consecutive draw in the Group C World Cup qualifiers and leaves  Nigeria in fifth with three points in the log table.
    The Super Eagles were behind when Themba Zwame struck in the 28th minute as Hugo Broos’ team were disciplined at the back to prevent the eagles from scoring.
    Early in the second half, Dele Basiru equalised but the scores remained that way till full time as Nigeria remained fifth on the table with South Africa in fourth.
    Also, it was a night of glitz and glamour as Nigerian singer and rapper, Oladapo Oyebanji, popularly known as D’banj celebrated his 20 years of musical excellence in a sophisticated ceremony.
    The event witnessed several guests and fans mime along while D’banj’s songs from 2004 were played to their delight.
    Among the celebrities that turned up at the event are: Clarence Peters, Legendary music video director; Nollywood actres, Funke Akindele; Afrobeats Musician, Femi Kutu; Timaya; ID Canada; Kenny Ogungbe; Bisola Aiyeola, Mr Macaroni, Ini Edo , Tobi Bakare amongst others.
    On Saturday, in a friendly match between Croatia and Portugal for the Euro 2024 tournament, Cristiano Ronaldo’s team was defeated 2-1.

    Ronaldo was an unused substitute as  Portugal lost the game to a Modric penalty and Ante Budimir strike. (NAN) (http://www.nannews.ng)

    ENI/FAA
    ========
    Edited by Folasade Adeniran

  • We’re committed to youths development, says Archbishop

     We’re committed to youths development, says Archbishop

    Commitment

    By Joy Mbachi

    Enugwu-Ukwu (Anambra), June 9, 2024 (NAN) The Archbishop of Province of Niger, Anglican Communion, Most Revd. Alexander Ibezim, has pledged his church’s commitment to youth development.

    Ibezim said this in a letter he issued in Awka to mark the 2024 Anglican Youths Fellowship (AYF) on Sunday.

    Mr Joseph Onyinanya of St. Peter’s Church, Enugwu-Ukwu, Njikoka Local Government Area (LGA) of Anambra, read the Archbishop’s letter to the congregation.

    Ibezim urged the youths to shun idol worship, ritual activities, robbery, lustful living and quest for ill-gotten wealth, amongst other vices.

    Ibezim, who is also the Bishop of Awka Diocese, charged the youths to embrace godly living and and live meaningfully.

    He said: “There is joy over a repented youth who lives according to the laws and rules of the land and God’s command.

    “I charge the youths to make themselves available for God’s work, attend the schools of the diocese and be well tutored.”

    Giving a Homily, entitled: “Be careful of the choice you make”, Onyinanya advised the youths to be always be constructive in their thoughts.

    He said youths could take leverage technology advancement to develop themselves and become more productive in life.

    Onyinanya advised the youths to pay attention to skills acquisition if they wished to be self-employed and employers of labour in the future.

    “If we have youths gainfully engaged, the rate of crime and social disorder will reduce drastically,” he said.

    Mr Chinaza Okoye, President, AYF St Peter’s Church, assured that they would continually seek God’s face in all they are engaged in.

    Rev’d. Canon Nnamdi Ajaoku, the Diocesan Chaplin of AYF, said the church was making deliberate efforts to raise God-fearing youths.

    He, therefore, urged the youths to learn from the teachings of the church and give themselves a better life. (NAN) (www.nannews.ng)

    JOY/CHOM/KUA

    =============

    Edited by Chioma Ugboma/Uche Anunne

  • Bullying: Educationists urge parents, guardians to help stop trend

    Bullying
    By Joan Odafe and Nojibat Adebayo
    Lagos, June 9, 2024 (NAN) Some educationists have called on parents, guardians to help stop the rising trend of bullying in the society, particularly in public and private schools.

    The educationists made the call in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Lagos.

    They noted that many times, children expressed and exhibited what they had learnt from home in the larger society.

    They said that children did not learn the act of bullying in their schools, rather a product of negative behaviour they had already been exposed to at home.

    A Guardian and Counsellor, Mrs Edith Nnalule, said many parents and guardians bullied their children and wards without even realising the damages being caused to both the child and the society.

    The counsellor said most times, children grew up knowing parents with what they did, saying that if a child was bullied at home, he would go back to the society to practice such act.

    “Most of these children that engaged in bullying in schools or those who bullied in the workplaces didn’t learn the behaviour there.

    “Some of them, because they are not well guided, you know, they grow with it.

    “When they enter the upper class or workplaces, they begin to bully and see it as a normal thing,” she said.

    Nnalue said those that engaged in the act of bullying sometime regarded their actions as instilling authority while those who lacked self-confidence saw it as protecting their self-esteem.

    She urged parents and guardians to promptly recognise the signs of bullying so that the children could be properly checked and consequently reduce its spilling into the society.

    Mr Johnson Ologundudu, President, National Association of Proprietors of Public Schools (NAPPS), Amuwo Odofin Chapter, said past experience had shown educators that the act of bullying was learned by engagers from home.

    Reacting to viral videos and reports of various forms of bullying at schools, Ologundudu said the major cause was a spillover from the society.

    “These children are from different homes with different backgrounds and orientation,” he said.

    He said the ‘Lagos State Safeguarding and Child Protection Policy’ (LSSCPP) served as a guide for schools in setting up structures to tackle the menace of bullying.

    Ologundudu, who is also the Proprietor of Jomal Schools, urged sister institutions to domesticate the LSSCPP and set up structures to help reduce the menace of bullying.

    He further urged various institutions within the society, including families, schools and religious organisations to work together to reduce bullying in schools. (NAN)(www.nannews.ng)
    JOJO/ISHO/AJA
    ============
    Edited by Yinusa Ishola/Adeleye Ajayi

     

     

     

     

     

  • Play on Gen. Gowon to be staged in Lagos Aug. 24-25

     

    Play on Gen. Gowon to be staged in Lagos Aug. 24-25

    Gowon

    By Folasade Adeniran

    Lagos, June 9, 2024 (NAN) A play, “GOWON”, which depicts the life of retired Gen. Yakubu Gowon, former Nigeria’s military head of state, is to be staged in Lagos, from Aug. 24 to Aug.25.

    A statement by the Duke of Shomolu Foundation, producers of the play, said on Sunday in Lagos that the play would focus on Gowon’s service to Nigeria and also take a “deep and cursory look at his tribe – Angas, in Plateau”.

    “It will run with the theme of unity and lean heavily on the Gowon era policy of Reconstruction, Rehabilitation and Reorientation put in place at the end of the civil war to heal wounds,” the statement said.

    The News Agency of Nigeria (NAN) reports that the statement was signed by Mrs Mofoluwake Edgar, Managing Director, Duke of Shomolu Foundation.

    “The play will seek to celebrate the ‘No Victor, No Vanguished’ proponent,” the statement added.

    It said that the play was written by Prof. Ahmed Yerima, who would also direct the stage proceedings.

    Yerima had written equally strong historical plays on Chief Olusegun Obasanjo, Emir Muhammad Sanusi II, Alhaji Ahmadu Bello, the Sardauna of Sokoto, and Dr Nnamdi Azikiwe.

    All the plays were produced by the Duke of Shomolu Foundation.

    The statement indicated that the play had been in the drawing board in the last two years “waiting for the most auspicious time”.

    “For the first time ever on a Nigerian stage, a play will feature accomplished British actress – Tayo Elesin – who will play the role of Victoria, Gowon’s wife.

    “Tayo, who was HID Awolowo in the play “Awo”, staged in London, had featured in many western stage plays and many critically acclaimed movies on Netflix.

    “She will bring to bear on the production her international clout and experience,” the statement said.

    The statement disclosed that the play is being sponsored by First Bank of Nigeria, Unified Payments, Orangeline and Sonora Capital.

    “The showing will be at the Agip Recital Hall of The Muson Centre, Onikan, Lagos,” it said.

    NAN reports that Gowon, who became the nation’s head of state at 32, ruled Nigeria from 1966 to 1975.

    His regime was terminated by a military coup with the late Gen. Murtala Mohammed taking his place. (NAN) (nannews.ng.com)

    FAA/ETS

    =======

  • No cause for alarm over Nigeria’s debt profile  – Experts

    Debt
    By Simon Akoje
    Lagos, June 9, 2024 (NAN) Some financial experts have expressed optimism that there is no cause for alarm over the country’s current debt profile.
    They said this in separate interviews with the News Agency of Nigeria (NAN) on Sunday in Lagos, while reacting to the country’s rising public debt stock.

    Details from the Debt Management Office show that the country’s total public debt stock has surged to N97.34 trillion as of first quarter of 2023.

    The total debt stock comprises domestic and external debts of the Federal Government, the 36 state governments and the Federal Capital Territory.

    However, the Bola Tinubu government has borrowed N20.1 trillion from domestic investors in its first year, representing a year-on-year increase of 117 per cent from the previous year.

    Nigeria is among the 10 countries on the continent burdened with the highest debt of 2.6 billion dollars owed to the International Monetary Fund, amid its economic challenges.

    The multilateral body has projected Nigeria’s public debt to Gross Domestic Product ratio to reach 46.6 per cent in 2024, and 46.8 per cent in 2025.

    Mr Samuel Agbelaye, the President Chartered Institute of Taxation of Nigeria, said Nigerians should not despair over the recent loans obtained by the Federal Government.

    Agbelaye said there was nothing wrong with obtaining loans if they would be used judiciously for developmental projects.

    “Despite the rising debt, the country is yet a going concern and the indices and outlook of the economy are not as bad as people claim.

    “The loans are not to be used for overhead but for developmental purposes that will add value to the economy,” Agbelaye said.

    He said that Nigerians should not be too perturbed about the country’s public debt stock, or proposal to incur more loans.

    “They should rather be concerned about ways the government plans to increase its cash flow to meet the projected revenue,” Agbelaye said.

    Also, Dr Muda Yusuf, the Chief Executive Officer, Centre for Private Enterprises, said in spite of the huge debt, it was almost impossible for the country not to borrow.

    “The current loan expected to be secured by the government is part of the foreign borrowing plan of the 2024 deficit budget to bridge the financing gap.

    “The foreign loan is usually more concessionary, the rates are low and it’s tied to specific projects,” Yusuf said.

    He, however, noted that the Federal Government could reduce the need to borrow by raising its oil and gas output.
    “Addressing the challenge of oil theft in the Niger Delta region is crucial in attaining the international oil quota,” Yusuf said.
    Also, Mr Okechukwu Unegbu, former President, Chartered Institute of Bankers of Nigeria, said the government should be more innovative in order not to further raise the country’s public debt stock.
    “The government should explore more private equity financing to fix key infrastructure, so as not to borrow for every capital project.
    “Countries in other climes utilise this model in addressing many developmental projects without approaching international developmental partners,” Unegbu said.
    He added that the three tiers of government should cut down their ostentatious lifestyle.
    “This will free funds for more developmental purposes so that the need to source foreign loans may reduce.
    “Most foreign loans earmarked for developing countries come with a blueprint which is not the best for us as an emerging economy,” Unegbu said.
    NAN reports that the Federal Government is proposing to incur more loans from international developmental partners.
    The World Bank is poised to give the Nigerian government a loan of $2.5 billion for economic stabilisation and resource mobilisation reform programmes.(NAN)
    STA/JNC
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    Edited by Chinyere Joel-Nwokeoma