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

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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

ENTERTAINMENT

Why Fela Kuti Married 27 Women In One Day – Seun Kuti

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Why Fela Kuti Married 27 Women In One Day | Fab.ng

Seun Kuti, the son of the late Afrobeats pioneer Fela Anikulapo Kuti, has shared the reasons behind his father’s decision to marry 27 women. These women included his backup singers and dancers, all in one day.

In 1978, Fela Anikulapo Kuti made headlines worldwide by marrying 27 women in a single day. The act was seen as extremely bold and unconventional. This group marriage was not just a spectacle but had deeper motivations behind it.

Seun Kuti explained that Fela’s female dancers and band members were frequently subjected to harsh media scrutiny and were often labelled as prostitutes. This negative portrayal deeply concerned Fela, who has always challenged societal norms and media propaganda. To counter these damaging accusations and preserve the honour and dignity of these women, Fela decided to marry all 27 of them at once.

Seun elaborated that this act was Fela’s way of showing solidarity with his band members and dancers.

It affirmed their importance and value in his life and work. By marrying them, Fela aimed to protect them from societal stigma and ensure they were respected.

In a recent interview on the “Fresh Off The Boat” podcast via Skype, Seun shared these insights. He highlighted his father’s commitment to challenging societal norms and defending the people close to him. This act of marrying 27 women was another example of Fela’s rebellious spirit and desire to stand up against injustice and societal prejudice.

“My father was under immense media propaganda. He was very scrutinised. And most of it were directed to the women that were in his life—his female backup singers, dancers.”

“They all lived together with my dad, but the media started calling them prostitutes. So my dad, in order to preserve their honour and dignity, asked them if they would choose to be his brides, so nobody would call them names anymore, and they all agreed. That was how the marriage happened.”

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NEWS

Adebayo Salami Celebrates Five Decades In Nollywood

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Adebayo Salami celebrates five decades in Nollywood | Fab.ng

Veteran Nollywood actor Adebayo Salami, also known as Oga Bello, has been in the movie business for 50 years! To celebrate this achievement, the 72-year-old actor posted a black-and-white picture on Instagram with some of his fellow actors. He thanked God for his successful career and wonderful family. Oga Bello also said that even though actors might get tired sometimes, they never truly retire from their passion for acting.

He wrote, “With over 5 decades of committed practice in Nollywood, I am indeed most grateful to Almighty God for His unending blessings over my career and family. Actor only gets tired, actor does not retire. Get ready for what is coming soon.”

 

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A post shared by Adebayo Salami (@adebayo.salami)

Adebayo Salami’s acting career started way back in 1964. He joined a group called Young Concert Party, led by Ojo Ladipo (Baba Mero). This group’s name changed a few times, from Ojo Ladipo Theatre Group to finally Awada Kerikeri Theatre Group. When Baba Mero passed away in 1978, Salami became the leader of the group. This put him in the spotlight and helped him get noticed.

Salami also made movie history. He appeared in the very first Yoruba film ever made, called “Ajani Ogun.” The lead role in that movie was played by Adeyemi Afolayan, the father of well-known actors Kunle Afolayan and Gabriel Afolayan.

In 1985, Salami didn’t just act, he also produced his first movie, “Ogun Ajaye,” with his Awada Kerikeri group. Since then, he’s become a well-rounded movie talent. He acts, directs, and produces movies all the time, making him a big player in the Yoruba film industry.

It seems acting talent runs in the family! Salami has two sons, Femi and Tope Adebayo, who have become successful actors and movie producers themselves.

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NEWS

Mayorkun Finally Addresses Nicki Dabarbie’s Ritual Allegations

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Mayorkun addresses Nicki Dabarbie’s ritual allegations | Fab.ng

Afrobeats singer Mayorkun has responded to claims made by social media influencer Nicki Dabarbie. She accused him and his colleague, Skiibii (Abbey Elias), of attempting to use her for a ritual.

On April 19, 2024, Nicki Dabarbie accused Mayorkun and Skiibii of plotting to use her for a ‘money ritual’. She supported her claims with pictures and videos describing the incident.

Mayorkun took to his X page to deny all the allegations. He stated that he had never met Nicki Dabarbie and was unaware of her existence before the allegations.

Mayorkun mentioned that he initially wanted to let the court handle the situation, but the spread of false information prompted him to speak out. He stressed that he did not know Dabarbie and warned fans about the dangers of cancellation culture and its potential harm to his life and career.

He wrote:

“You know, I was going to let this remain as a court case but when I checked the comments under some of the blogs where these ridiculous allegations were posted, I was quickly reminded of how gullible most people are on the internet and how they are ready to run along, spreading any negative news without any form of clarity.

“Just for the record, I never met that person on the said day, still never seen that person till this day, never knew about that person’s existence not until those allegations came up.. yet she claimed I put ‘something’ in her drink. A lot of people believed that story, and you think I’ll let this libelous claim fly? No!”

He added,

“I wanna re-instate, I have never seen this person before, even as I am typing this! I still haven’t set my eyes on this person.. Like, what else can I say? How else can I prove this? There’s no need for me to ask for an apology where I won’t get any. I just needed to say this publicly and get it off my chest.. cos if it was a case of ‘cancellation’ as many people are quick to do, I for don go back to dey find work for bank.”

He stated that he would pursue additional charges against her, even though she is currently in prison on unrelated charges.

Earlier, Mayorkun had threatened to file a N1 billion lawsuit against Nicki Dabarbie.

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