NEWS

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

Published

8 years ago

September 23, 2016

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

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NEWS

Ayra Starr Launches Doll Collection

Published

21 hours ago

July 26, 2024

Adaeze Okechi

Ayra Starr is a famous singer from Nigeria. She has become very popular in the music world. Many people like her special way of singing and her unique style. Ayra Starr has launched a doll collection. She is making dolls that look like her. These dolls are special because only a small number of them will be made. This is called a “limited edition.”

On Thursday, Ayra Starr told her fans about these new dolls. She shared this information on her social media accounts. These are websites and apps where she can talk directly to her fans.

The News Agency of Nigeria, also called NAN, reported this story. NAN is a company that collects and shares news in Nigeria.

She wrote, “I’m so excited to share this project with my fans. The Ayra Starr Dolls are a representation of my music, style, and personality. I can’t wait for everyone to see them and experience the joy!”

View this post on Instagram

A post shared by Celestial being 👼🏾🤍🎖 (@ayrastarr)

Ayra Starr says her new doll collection will be sold in several places.

You can buy them in Lagos, which is a big city in Nigeria. They will also be available in the United States, the United Kingdom, and France.

Ayra Starr is doing something fun for her fans. She’s having a contest on social media. If you win this contest, you can get one of these special dolls. She will tell people how to enter the contest soon. She’ll share this information on her social media accounts.

Ayra Starr’s real name is Oyinkansola Aderibigbe. She became famous in 2020 when she released a song called “Away”. Now, many people in Nigeria and other countries know who she is.

Ayra Starr’s music is special. It mixes different styles like Afrobeats, R&B, and pop. People of all ages enjoy her music.

Ayra Starr has won prizes for her music. In 2021, she won the Headies Award for Best New Artist. She is a nominee for other awards. These include the BET Awards and the MTV Africa Music Awards.

By making these dolls, Ayra Starr is growing her business. She wants to inspire girls and women all over the world. She does this with her music, her style, and her business ideas.

Check out more updates here.

ENTERTAINMENT

Musician Khaid Returns To Social Media After Protracted Illness; Unfollows All But Olamide

Published

2 days ago

July 25, 2024

Reporter

Musician Khaid returns to social media after illness | fab.bg

Khaid, a rising Nigerian music star, has recently returned to social media after a period of absence due to a serious health issue. He had been hospitalized for a month due to internal bleeding, which caused significant concern among his fans and fellow artists.

The young artist, whose real name is Sulaimon Shekoni Abiola, had been away from the public eye for several months. His health condition was initially revealed by his manager and record label boss, Sydney Talker. Videos showing Khaid in distress circulated online.

Upon his return to social media, Khaid made some dramatic changes to his online presence.

Most notably, he has unfollowed everyone on his Instagram account except for one person: the well-known musician Olamide. This unexpected action has sparked curiosity and speculation among his followers and industry insiders about potential changes in Khaid’s professional relationships.

View this post on Instagram

A post shared by Little snow ☃️ 444 (@khaidxr)

The only hints about Khaid’s current state of mind come from a series of cryptic posts he has shared. These posts appear to address his critics and suggest that he may be experiencing both personal and professional conflicts.

“Y’all set me up but can never shut me up. FYI, I’m Young Trump, I wish y’all long life so y’all can reap what you’ve sown accordingly,” Khaid wrote in one of his posts. “Thank God for helping me overcome what many would face and die. They can’t hold the boy down, we rise again!”

Khaid’s decision to unfollow Sydney Talker on social media has surprised many.

Sydney Talker was instrumental in Khaid’s rise to fame, having signed him to Neville Records. This action has led to much speculation about possible conflicts or changes in their professional relationship.

Khaid and Sydney Talker

The exact reasons for Khaid’s dramatic social media changes are not yet known. Some people think this could be a strategy to gain public attention. Others believe it might indicate serious issues within Khaid’s professional circle.

Despite these controversies, many of Khaid’s fans continue to show strong support for him. They are excited to see what he will do next in his career.

Khaid’s recovery from his health problems and his return to social media represent a personal victory. Also, it shows the beginning of a new phase in his music career.

As Khaid moves forward in the music industry, his determination and resilience are clearly evident. Both his supporters and critics will be paying close attention to his next moves.

Khaid’s story is still developing, and many are interested to see how he will navigate the challenges and opportunities that lie ahead in his career.

Check out more updates here.

NEWS

Netflix Subscription Prices Increases In Nigeria For The 2nd Time This Year

Published

2 days ago

July 25, 2024

Reporter

Netflix increases subscription prices in Nigeria 2nd time | fab.ng

Netflix has significantly increased its subscription fees for Nigerian users. This marks the second time the popular streaming platform has raised prices in just three months. The substantial hike, impacting all subscription tiers, has drawn criticism from subscribers already burdened by the rising cost of living.

With this latest adjustment, Netflix joins a growing list of companies increasing their prices in Nigeria. This adds to the financial strain on consumers.

“As we continue to add more TV shows and movies and introduce new product features, our plans and prices may change. We also may adjust plans and pricing to respond to local market changes, such as changes to local taxes or inflation,” it said in a statement on its website.

Netflix has recently revised its pricing structure in Nigeria, affecting all four of its subscription plans.

The mobile plan, which allows one user to watch on a mobile device, has seen a significant price increase from ₦1,200 to ₦2,200, representing an 83% rise.

The basic plan’s monthly cost has gone up from ₦2,900 to ₦3,500. For the standard subscription, which offers HD quality viewing on two devices simultaneously, the price has increased from ₦4,000 to ₦5,000 per month.

Netflix subscription prices in Nigeria increases the 2nd time | fab.ng

Netflix pricelist

The premium plan, providing Ultra HD quality on four devices at once and download options for six devices, will now cost ₦7,000 per month.

Despite being Africa’s most populous country, Nigeria represents a relatively small market for Netflix. This accounts for only 10.5% of the company’s total subscribers in Africa, according to Omdia Research.

Netflix has been implementing similar price adjustments in other international markets. United States, the United Kingdom, and France, all inclusive.

This price increase comes at a challenging time for Nigeria. This is because the country is currently dealing with rising inflation and a cost of living crisis.

Netflix is not alone in raising prices. Other streaming platforms, such as Multichoice’s Showmax, have also increased their subscription fees earlier this year. This led to public dissatisfaction.

Check out more updates here.