Connect with us

NEWS

President, Ministers Brainstorm On Possible Solutions To Tackle Ongoing Economy Recession.

Published

on

President Muhammadu Buhari, yesterday, brainstormed with his key ministers and financial experts from the public and private sectors, to find ways of fixing the troubled economy.

The President, who has repeatedly assured Nigerians of his resolve to turn around the economy, has come under immense pressure to take far-reaching measures to quicken the recovery of the economy. The retreat, which was packaged by the Budget and National Planning Ministry, in conjunction with the Finance Ministry, is seen as one of the early steps to proffer solutions to the beleaguered economy and prioritise areas for the 2017 budget.

The retreat had as its theme: Building Inter-ministerial Synergy for Effective Planning and Budgeting in Nigeria. Declaring open the retreat, President Buhari said the nation required what he called ‘out-of-the-box’ thinking to get out of the economic doldrums. Buhari said: “The challenges we face in the current recession require ‘out-of-the-box’ thinking, to deploy strategies that involve engaging meaningfully with the private sector to raise the level of private sector investment in the economy as a whole. “We are confident that the level of private investment will grow as we are determined to make it easier to do business in Nigeria by the reforms we are introducing under the auspices of the Presidential Committee on Ease of Doing Business.”

He stressed the determination of the government to explore possible ways of turning the current challenges into opportunities for the country, especially the nation’s vibrant youths on whose shoulders lie the future of the nation. “This is why we have embarked on measures and actions that will open up the opportunities we have seen in the power, housing, agriculture, mining, trade and investment; Information Communication Technology, ICT, tourism, transport and other sectors.

“I wish to reassure the teeming youths that this government would remain steadfast in its effort to ensure greater progress and prosperity for you. While government is taking the lead in the task of repositioning our economy for change, we cannot achieve this completely by ourselves. “We will need, and we ask for the support and cooperation of the private sector, domestic and foreign, state and local governments, the National Assembly and the Judiciary as well as all well-meaning Nigerians in this important task. We are confident that working together, we shall succeed,” Buhari assured.

Budget and National Planning Minister, Senator Udoma Udo Udoma, explained that the retreat was timely as it was deliberately arranged as part of government’s preparations for the 2017 budget, apparently to avoid the problems noticed in the previous budgets. Udoma said: “We want to make sure that as a cabinet, we have synergy and we look at the priorities for the government for the 2017 budget and make sure that in the light of the current economic situation, the budget is well structured to take us back on the path of growth.”

The minister said with proper synergy between the ministers and their respective agencies, it would be possible for the cabinet to speak with one voice regarding the 2017 budget.

Finance Minister, Mrs. Kemi Adeosun, expressed government’s sympathy with Nigerians over the down turn in the economy but was quick to add that the administration was more serious in its intention and resolve to turn it around. Adeosun said it was obvious, from the beginning, that the nation would run into economic crisis due to plummeting revenue. She said: “We sympathise with the people of Nigeria but what is more serious is our intentions, our resolve and plans to turn it around. We had said it before that we knew we were going to go into a very difficult period. “We have not anticipated the impact of the much awaited crisis, which of course is built on our revenue that is down significantly. “We have a credible plan and that plan is based on the need to invest in our infrastructure and each of the experts spoke on that, saying clearly that it was the only solution for Nigeria to take us out of this situation and we are working on that.”

The retreat later broke into six syndicate groups, with ministers and permanent secretaries divided among the groups to examine the economy and suggest the way forward.
Papers presented at the retreat include: “Weaning the Nigerian economy out of oil dependence,” by Dr Obadiah Mailafia; “Fiscal and Trade Policy options to get the economy out of recession,” by Dr Ayo Teriba; “Monetary and Exchange Rate Policy options to get the economy out of recession,” by Mr. Bismarck Rewane and “How to grow output and productivity in the real sector,” by Mr. Bode Agusto.

According to documents from the Budget Ministry, the key expectations of the 2017 budget will focus on reviving the economy and will emphasise on actions to return the country to sustainable growth, keep a cap on recurrent expenditure and focus on capital expenditure, especially infrastructure. According to the document, the ultimate target is the attainment of strong, inclusive growth.

Source: vanguard.ng

BREAKING NEWS

Bobrisky To Spend 6 Months In Ikoyi Prison For Naira Abuse

Published

on

Bobrisky: 6 Months In Ikoyi Prison For Naira Abuse | Fab.ng

Popular Nigerian influencer Idris Okuneye, also known as Bobrisky, was recently sentenced to six months in jail without the option of a fine. The judge, Justice Abimbola Awogboro of the Federal High Court in Lagos, delivered the sentence on Friday, April 12, 2024.

Bobrisky’s arrest by the Economic and Financial Crimes Commission (EFCC) last week stemmed from accusations of mutilating Nigerian Naira currency.

The EFCC at the time of the arrest said they had “commenced investigation into her for allegedly spraying naira notes.”

The EFCC investigation revealed that Bobrisky allegedly defaced Nigerian currency at other events in the past. Bobrisky cooperated with the EFCC by showing up for questioning on April 4th and providing statements. The EFCC also initially accused Bobrisky of money laundering, but these charges were dismissed by the court.

Bobrisky: 6 Months In Ikoyi Prison For Naira Abuse | Fab.ng

Bobrisky’s sentence has sparked mixed reactions from Nigerians. Some believe the punishment is too severe for defacing money, which is sometimes done during celebrations in Nigeria.

“She was used as a scapegoat. Why no option of fine, please???? What point are they trying so hard to prove? I hope she learns to not always brag on social media that she is above the law when she gets out too,” someone said.

They just used her as a scapegoat and if we’re being fair, she doesn’t deserve it. 99% percent of people at events spray money exactly the way she sprayed money in that video. This isn’t fair,” another person said.

Get more updates here.

Continue Reading

NEWS

Recent Deaths In Nollywood Rob Nigeria Of Legendary Filmmakers – NFC Boss, Ali Nuhu

Published

on

Ali Nuhu Talks About The Recent Deaths In Nollywood | Fab.ng

The Nigerian film industry is in mourning after the recent deaths of two respected figures. Ali Nuhu, the Managing Director of Nigerian Film Corporation (NFC), expressed his deep sadness over the passing of two actors: Saratu Gidado (known as Daso) and John Odonwodo (known as Junior Pope). He has said that recent deaths in the movie industry have robbed the nation of legendary filmmakers.

He described their deaths as “heart-wrenching” for their colleagues and everyone involved in Nollywood.

“Their deaths, which occurred within the week has left Nigeria’s movie industry in a state of mourning.

“Stakeholders have been pained by the frequent recent losses robbing the country of legendary filmmakers, who have impacted and contributed greatly to the growth of Nigeria’s film industry.

Their footprints within the development of the Nigerian film industry will not be forgotten,” he said.

The NFC statement also paid tribute to actress Saratu Gidado. The statement highlighted her captivating presence on screen, particularly in leading roles for Kannywood films like “Linzami Da Wuta” and “Gidauniya.” These movies helped her win the hearts of many Nigerians.

“She was a Zuma Film Festival (ZUFF) 2023 Life Time Achievers Awardee but sadly succumbed to death in the early hours of Tuesday, April 9.

“Odonwodo’s role in showcasing the professional competencies and screen delivery by actors is remarkable, as can be found in Honey Money, Blood Affair and Wrong Initiation movies that the late actor acted.

“Mr Ibu evoked laughter and comic reliefs, leaving behind a gap to be filled, the refined gentlemen shall be greatly missed,” he added.

The NFC also acknowledged the importance of safety in the film industry moving forward. Nuhu pledged the NFC’s continued support for policies that create a safe working environment for actors and filmmakers. This includes advocating for health insurance, medical benefits, and life insurance for everyone involved.

Ali Nuhu offered his deepest condolences to the families, friends, and colleagues of both Gidado and Junior Pope. He also extended his sympathies to the Actors Guild of Nigeria. He offered prayers for peace and comfort during this difficult time.

For more news updates, check here.

Continue Reading

NEWS

Manchester City Defender, Manuel Akanji Wants To Help Nigerian Kids; Talks Afrobeats And Burna Boy

Published

on

Manuel Akanji Wants To Help Nigerian Kids... | Fab.ng

Manchester City defender Manuel Akanji is back on social media and using his platform to connect with his Nigerian roots. The Nigerian-Swiss player recently spoke about his passion for helping Nigerian children.

Akanji had a stellar season with Manchester City last year, helping them achieve a historic treble: the Premier League trophy for the third year in a row, the FA Cup, and most importantly, their first-ever Champions League win.

Pep Guardiola, Manchester City’s manager, valued Akanji’s skills as a central defender who can also play the ball well. Akanji wasn’t afraid to take risks by pushing forward and joining the midfield when needed.

Manuel Akanji Wants To Help Nigerian Kids... | Fab.ng

Manuel Akanji wants to help Nigerian kids

Akanji’s off-field style is as progressive as his approach to the game, as evidenced by his recent collaboration with Hypebeast, a fashion trendsetter.

Since joining Manchester City, he’s been a rock star on the pitch, consistently delivering top performances.

Hypebeast recently interviewed Akanji at Manchester City’s training ground, where they discussed his life in Manchester, the influence of manager Pep Guardiola on the team’s fashion sense (they’re apparently known for being very stylish), the new Netflix documentary, “Together: Treble Winners,” and more.

One topic particularly close to Akanji’s heart is his Nigerian heritage. He spoke about his desire to help underprivileged children in Nigeria who weren’t as fortunate as him growing up in Switzerland.

He said,

 “In Nigeria, I like to help kids who didn’t have the same luck that I had with growing up in Switzerland.”

Manuel Akanji Wants To Help Nigerian Kids... | Fab.ng

Manuel Akanji on Burna Boy and Afrobeats

The conversation also touched on music. When asked about Afrobeats, Akanji said…

“My favourite artist is Burna Boy.

I spoke with him after the Champions League final. I love listening to Afrobeats.”

While Manuel Akanji has a strong connection to his Nigerian heritage, as evidenced by his desire to help children there, he ultimately chose to represent Switzerland on the international football stage.

This is likely due to growing up in Switzerland and potentially coming up through their youth development system.

Check out more sports updates here.

Continue Reading

Latest

Coachella: See How Nigerian Artistes Showed Up | Fab.ng Coachella: See How Nigerian Artistes Showed Up | Fab.ng
ENTERTAINMENT7 hours ago

See How Tems, Wizkid, Other Nigerian Artistes Showed Up At Coachella

Coachella, the undisputed king of summer music festivals (and some would say the entire year!), wasn’t just about the music...

'Esther Was Black And Broke' Challenge | Fab.ng 'Esther Was Black And Broke' Challenge | Fab.ng
ENTERTAINMENT9 hours ago

‘Esther Was Black And Broke’ Challenge: Just Colourism Or Fun Wordplay?

A recent social media challenge has people talking but is also sparking some controversy. The “Esther was Black and Broke”...

Nollywood movies Streaming This April | Fab.ng Nollywood movies Streaming This April | Fab.ng
MOVIES10 hours ago

These Nollywood Movies Are Streaming This April

Are you a fan of Nollywood movies? April is shaping up to be a great month for you, Nollywood fans!...

Fabregas Speaks On Coaching Premier League Club | Fab.ng Fabregas Speaks On Coaching Premier League Club | Fab.ng
SPORTS11 hours ago

Fabregas Speaks On Coaching Premier League Club

Cesc Fabregas, a retired football star who played mostly in the Premier League, wants to be the head coach of...

Gorgeous Doll In Cosy Picture With Davido Clarifies | Fab.ng Gorgeous Doll In Cosy Picture With Davido Clarifies | Fab.ng
ENTERTAINMENT11 hours ago

We Are Just Friends – Gorgeous Doll In Cosy Picture With Davido Clarifies

An American influencer named Gorgeous Doll accidentally posted a friendly photo with singer Davido online. This caused some people to...

Ifeoma Ivy: Response To Claims She's A Home-wrecker | Fab.ng Ifeoma Ivy: Response To Claims She's A Home-wrecker | Fab.ng
ENTERTAINMENT12 hours ago

Rudeboy’s Girlfriend, Ifeoma Ivy Responds To Claims She’s A Home-wrecker

Ifeoma Ivy, Paul Okoye’s girlfriend, recently spoke up for the first time about the social media rumours about being responsible...

See What Happens When You Don’t Deworm Often | Fab.ng See What Happens When You Don’t Deworm Often | Fab.ng
HEALTHY LIVING1 day ago

What Happens When You Don’t Deworm Your Intestines Often?

When you neglect to deworm regularly, you leave yourself vulnerable to a variety of health problems caused by intestinal worms....

How To Manage Potential Shipping Risks | Fab.ng How To Manage Potential Shipping Risks | Fab.ng
BUSINESS1 day ago

How To Manage Potential Shipping Risks

The world of international trade relies heavily on efficient and safe shipping. However, this process isn’t without its risks. From...

Boarding A Plane: Things To Put In Place Before | Fab.ng Boarding A Plane: Things To Put In Place Before | Fab.ng
OPINION2 days ago

10 Things To Check Before Boarding A Plane

Airports can be overwhelming! Between security lines, finding the right gate, and everything else leading up to boarding, it’s easy...

See Reasons Men Prefer To Suffer In Silence | Fab.ng See Reasons Men Prefer To Suffer In Silence | Fab.ng
HEALTHY LIVING2 days ago

See 4 Reasons Men Prefer To Suffer In Silence

Society often sends mixed messages about masculinity. On the one hand, emotions are a fundamental part of the human experience,...

Trending