Connect with us

NEWS

Economic Team Proposes Sales Of Nation’s Assets To Aid Economic Recovery.

Published

on

The economic team has proposed the sale of some of the nation’s assets to resolve the current economic crisis.

The governors made this known while briefing reporters at the end of the National Economic Council (NEC) meeting‎ ‎presided over by Vice-President Yemi Osinbajo.

The NEC is an advisory body on the economy, comprising of all 36 states governors and the Central Bank governor.

Atiku Bagudu, governor of Kebbi state, said the management team briefed NEC that it was working on plans to “generate immediate larger injection of fund into the economy through: ‎asset sales, advance payment of license renewals, infrastructure concessioning, use of recovered funds to reduce funding gaps”.

He added that the team also spoke on implementation of fiscal stimulus/budget priorities, fast-tracking procedures through legislation and implementation of strategic, implementation plan (SIP) of the budget, meaningful diversification of the economy and cutting down on importation.

“Council members in response commended the economic management team and generally welcomed the presentation and expressed support for the plan to steer the nation out of recession,” he said.

Abiola Ajumobi, governor of Oyo, said the council was briefed on the land use act of 2013‎, which seeks to make provisions to streamline mortgage transactions and clearly delineate the rights, duties and obligations of a mortgage.

“Other aspects of the draft are: conditions for disposal of proceeds of sale and subsequent mortgages and implied terms of a mortgage; rights of redemption and remedies and issues on mortgage by companies; power of assignment by mortgage and right of transfer and application of insurance money by the receiver”.

Ajimobi added that Kemi Adeosun, minister of finance, briefed the council on the Public Private Partnership ‎ (PPP) initiative on affordable housing.

‎”Target of N1billion fund to operate PPP (N500 billion initial) to create a blended pool of long term funds to intervene in housing development finance and mortgage provision,” he said.‎

“Funds aims to deliver family housing priced from as low as N2.5 million up to N18 million delivered in a ready to occupy condition with essential services (water and power connected)

“The delivery target is 400,000 to 500,000 housing units per annum. ‎The ultimate aim of the programme is to channel funds from savers to borrowers, so that builders have the required capital to construct and prospective buyers can access credit to purchase.

“The fund will attract low cost local and international capital, including from domestic pension and insurance funds, FG funding, as well as contributions from State Governments and other agencies.”

On her part, Yetunde Onanuga, deputy governor of Ogun, said Adeosun reported to the council the balance in excess crude account in US dollars, which stood at $2.453 billion as at September 2016.

“Also at the council meeting another presentation was made on best options for managing the flow train forex policy introduced by the Central Bank of Nigeria,” she said.

“This was a joint presentation by the Governor of Central Bank and the Minister of Finance, the highlights are that the CBN should introduce special monetary policy in the nation as dictated by consumer price and exchange rate.”

Source: www.cable.ng

 

 

 

Source: www.cable.ng

MUSIC

Social Media Reacts As Wizkid’s “Dance” Disappears From Apple Music Top 100

Published

on

'Kese (Dance)' disappears from Apple Music Top 100 | fab.ng

On November 18, 2024, fans woke up to the shocking news that Wizkid’s latest single, “Kese (Dance)”, had suddenly vanished from the Apple Music Nigeria Top 100.

Just days ago, the song had been proudly sitting at the number one spot. This abrupt drop sparked widespread speculation, with many fans and industry insiders suspecting that Apple Music had penalized the track for streaming manipulation.

Such drastic deductions often indicate stream deductions or “chart-drinking,” which are common penalties that Apple Music enforces against artificial streaming boosts.

Adding fuel to the controversy is Wizkid’s “Kese (Dance)”, released on November 15, 2024, as the second lead track from his forthcoming album “Morayo”.

Within hours of its release, “Kese” soared to the top of the Apple Music Nigeria Top 100, demonstrating Wizkid’s enduring popularity and dominance on the charts.

However, the unexpected removal of the song from the charts sent shockwaves through social media, leaving fans divided. Some believe Apple Music may have acted to curb stream farming, while others argue it might simply be a technical glitch.

Historically, Apple Music has taken stringent measures to crack down on streaming manipulation, especially against high-profile artists.

This latest move, if confirmed as a penalty, would be one of their strongest actions yet against stream farming. However, the possibility of a glitch cannot be entirely dismissed, as similar occurrences have happened before.

Fans now eagerly watch to see if “Kese (Dance)” will rebound to its previous chart-topping position. A quick recovery would lend credence to the glitch theory.

Meanwhile, a continued absence would suggest that Apple Music has indeed taken a firm stance against streaming irregularities—even against a major act like Wizkid. For now, all eyes remain on the charts to see how this drama unfolds.

Continue Reading

ENTERTAINMENT

AFRIFF 2024: Check Out The Complete List Of Winners

Published

on

2024 AFRIFF: The Complete List Of Winners | fab.ng

The 2024 AFRIFF celebrated exceptional African cinema through a vibrant week-long showcase of talent, creativity, and storytelling excellence.

Filmmakers, actors, and cinema enthusiasts gathered from across the continent to participate in screenings, masterclasses, and engaging panel discussions at the 2024 AFRIFF.

This 13th edition of AFRIFF demonstrated unprecedented diversity in African storytelling, featuring compelling narratives that captivated audiences through multiple genres and languages.

In the 2024 AFRIFF, carefully curated selections sparked meaningful conversations about contemporary African experiences while highlighting the continent’s rich cultural heritage.

Also, at the 2024 AFRIFF Globe Awards ceremony, outstanding films earned recognition for their artistic merit, technical excellence, and powerful storytelling.

These winning productions represented various African perspectives, from intimate personal narratives to broader social commentaries.

Let’s explore the complete list of winners who made their mark at this prestigious celebration of African cinema.

Continue Reading

MOVIES

Queen Lateefah Earns N333.7 Million, Ascends To Nollywood’s Top Box Office Rankings

Published

on

'Queen Lateefah' earns ₦333.7 million | fab.ng

First and foremost, Wumi Toriola’s film ‘Queen Lateefah‘ has achieved remarkable success, surpassing ₦300 million at the box office and securing its position among Nollywood’s top-performing films.

Subsequently, the film joins other blockbuster successes such as ‘Ajosepo’ (₦257.2 million) and ‘Ajakaju’ (₦252.8 million). Moreover, ‘Queen Lateefah’ now stands as the seventh highest-grossing Nollywood movie to date.

Additionally, it holds the distinction of achieving the highest earnings for a non-December release, a period typically known for peak box office performance.

Throughout its theatrical run, the film has consistently broken records. Initially, it garnered ₦57 million in its opening weekend.

Furthermore, within just three weeks of its premiere, the film exceeded the ₦200 million milestone. By mid-October, consequently, the box office receipts had accumulated to ₦216 million.

Queen Lateefah' grosses enters Nollywood's top box office rankings | Pulse  Nigeria

Under the distribution of Cinemax and the direction of Adeoluwa Owu, the film presents a compelling narrative. Specifically, it follows Lateefah Adeleke, a 30-year-old businesswoman who portrays herself as a world traveller with high social status.

However, her encounter with Jide Rhodes, a 35-year-old businessman, eventually exposes her carefully constructed facade.

In contrast to her claims, Lateefah emerges from a background of extreme poverty as the only child of an illiterate mother.

Finally, the film features a stellar ensemble cast including Kunle Remi, Femi Adebayo, Nancy Isime, Bimbo Manuel, Elvina Ibru, Enioluwa, and Gbugbemi Ejeye.

As a result of these combined elements – compelling storyline, strong performances, and strategic release timing – ‘Queen Lateefah’ continues to demonstrate the growing commercial potential of Nollywood productions.

Continue Reading

Latest

AFCON 2025: What Rwanda, Benin & Libya need to qualify | fab.ng AFCON 2025: What Rwanda, Benin & Libya need to qualify | fab.ng
SPORTS7 hours ago

AFCON 2025: What Rwanda, Benin & Libya Have To Do To Qualify Like Nigeria

Benin Republic, Rwanda, and Libya: A Tight Race for AFCON 2025 Benin Republic, Rwanda, and Libya are currently battling intensely...

Seven Doors: Watch the trailer | fab.ng Seven Doors: Watch the trailer | fab.ng
MOVIES9 hours ago

Check Out The Trailer For Femi Adebayo’s Directorial Debut, “Seven Doors”

Yoruba actor Femi Adebayo recently released the official trailer for his new project, “Seven Doors,” set to premiere on Netflix...

Phyno Says His Parents Didn't Support His Career | fab.ng Phyno Says His Parents Didn't Support His Career | fab.ng
ENTERTAINMENT10 hours ago

Our Parent’s Generation Didn’t Support Their Children’s Talents – Phyno

Nigerian rapper Phyno praised today’s parents for showing greater support for their children’s talents than the previous generation did. During...

'Kese (Dance)' disappears from Apple Music Top 100 | fab.ng 'Kese (Dance)' disappears from Apple Music Top 100 | fab.ng
MUSIC11 hours ago

Social Media Reacts As Wizkid’s “Dance” Disappears From Apple Music Top 100

On November 18, 2024, fans woke up to the shocking news that Wizkid’s latest single, “Kese (Dance)”, had suddenly vanished...

2025 FilmJoint Awards: See Complete List Of Nominees | fab.ng 2025 FilmJoint Awards: See Complete List Of Nominees | fab.ng
ENTERTAINMENT12 hours ago

See Complete List Of Nominees At The FilmJoint Awards 2025

The 2025 Filmjoint Awards are fast approaching, and the excitement is building as the full list of nominees is finally...

Starting A Business In Nigeria: 6 Things To Consider | fab.ng Starting A Business In Nigeria: 6 Things To Consider | fab.ng
BUSINESS12 hours ago

6 Things To Consider Before Starting A Business In Nigeria

Starting a business in Nigeria can be an exciting yet challenging endeavour. With a rapidly growing economy, a youthful population,...

Louis Vuitton Speedy bag: The New Menswear Favourite | fab.ng Louis Vuitton Speedy bag: The New Menswear Favourite | fab.ng
FASHION1 day ago

How The Speedy Bag Became A New Menswear Favourite

The Louis Vuitton Speedy bag, once a celebrity favourite in the early 2000s, is making a resurgence as the go-to...

Oral Sex Health Risks | fab.ng Oral Sex Health Risks | fab.ng
SEX1 day ago

Did You Know Oral Sex Can Be Harmful? Here’s Why

Why Oral Sex Can Be Harmful to Your Health Many people believe that oral sex is a safer alternative to...

How To Become A Supportive Partner | fab.ng How To Become A Supportive Partner | fab.ng
OPINION1 day ago

5 Steps To Becoming A Supportive Partner

Support your partner intentionally through daily actions and authentic expressions of care. Learning how to be a supportive partner demands...

Different Ways To Cook Rice In nigeria | fab.ng Different Ways To Cook Rice In nigeria | fab.ng
FOOD1 day ago

6 Creative Ways To Make The Most Of Rice In Nigeria

There are different ways to cook rice in Nigeria, making it the centrepiece of their celebrations, everyday meals, and social...

-Ad-

under40ceos-starting-a-business
under40ceos-starting-a-business

Trending