NEWS

The European Union (EU) Says No More Financial Assistance For Nigeria

Published

7 years ago

June 30, 2017

The European Union (EU) Ambassador to Nigeria and ECOWAS, Mr Michel Arrion says EU will not increase its financial assistance to Nigeria.

Arrion made this known in Abuja while delivering a Distinguished Lecture organised by the IBB Golf Club, with the theme “40 years of European union in Nigeria: Lessons learned and the way forward”.

The ambassador who said that EU was not promising further assistance to Nigeria however said that Nigeria remains EU key partner in view of the role it plays in global affairs.

The envoy also stressed that the Union would scale up its efforts towards the country’s institutional, political and economic development for a more prosperous future.

He said that Nigeria could not be said to be poor, as it is has enough resources to meet its developmental needs.

While expressing concern that on the economic level of the country Arrion called for a more equitable distribution of the nation’s wealth to ensure growth and stability and unleash its enormous economic potentials.

Arrion explained that the combine aides to the country were about ten per cent of the country’s annual budget.

According to him, the Official Development Assistance (ODA) flow in Nigeria is about 2.5 billion dollars yearly, which correspond roughly to about 10 per cent of the federal budget (N7,3trillion or 24 billion dollars).

This, he said has raised the question of should EU continue to give aide to Nigeria.?

Arrion, however said the regional block would scale up its efforts towards the country’s institutional, political and economic development for a more prosperous future.

“We are not offering more financial support, we are proposing more political and policy dialogue, technical assistance, capacity building, training, transfer of technology.

We also proposing more advocacies for more private investments and other innovative sources of funding,” the EU envoy said.

The envoy therefore called for improving in tax collection to finance the development of the country.

According to him Nigeria must find alternative funding to ODA including improved tax collection which must be improved at least five times more and also spend better.

READ: Pay your taxes in 9 months or face criminal prosecution – Osinbajo

Quoting Price Water Cooper (PwC 2016), he said: “Nigeria collects about N5.5 trillion or 18 billion dollars per year.

“About 10 million people (10 per cent of adult population) are registered for personal income tax (half of them in Lagos).

“The rate of VAT compliance by registered entities is about 12 per cent. The rate is lower for corporate income tax nine per cent.”

He also said Nigeria must attract more foreign investment five times more, to reach the level of Angola or Vietnam for instance and put in place more and better Public Private Partnerships.

Arrion said the evolution of vibrant relationship of equal partners between Nigeria and the EU was founded on shares values and aspirations and mutual trust.

According to him EU in its 40 years of engagement with Nigeria has identified development priorities, funded projects to stimulate the Nigeria’s economy, reduce hunger and disease.

He said that the union had also helped to enhance institutional capacities, strengthen governance and fight insecurity in Nigeria.

MUSIC

Wizkid’s “Dance” Reappears On Apple Music Nigeria Top 100

Published

20 hours ago

November 21, 2024

Reporter

Kese (Dance) Reappears on Apple Music Nigeria Top 100 | fab.ng

Wizkid’s ‘Kese (Dance)’ Reclaims Top Spot on Apple Music Nigeria

Wizkid’s latest single, ‘Kese (Dance)‘ dramatically returned to the Apple Music Nigeria Top 100 chart. The song temporarily disappeared on November 18, 2024, sparking widespread speculation among fans and music enthusiasts.

Fab.ng first reported the unexpected chart removal. Despite vanishing from the Nigerian chart, ‘Dance’ maintained its position on global Top 100 lists. Remarkably, it remained the sole Nigerian and African track on international charts.

Apple Music’s chart management protocols suggest potential reasons for the temporary removal. The platform commonly investigates potential streaming manipulation. When suspicious activity emerges, they remove and then reinstate tracks after verifying stream authenticity.

Fans and industry watchers developed multiple theories. Some believed the removal resulted from technical complications. Others suspected a deeper investigation into streaming patterns. The exact mechanism remained unclear.

Within hours, ‘Kese (Dance)’ returned to its top chart position. The song demonstrated sufficient streaming strength to reclaim its previous standing. Wizkid’s continued musical dominance remained unquestionable.

The incident generated additional excitement around Wizkid’s upcoming album ‘Morayo.’ Scheduled for release on November 22, 2024, the album generates significant anticipation. Wizkid strategically shared the official tracklist, further fueling fan enthusiasm.

Music industry observers noted the incident’s potential marketing impact. The temporary chart removal inadvertently increased visibility for both the single and the upcoming album. Wizkid’s strategic music release continues to capture the audience’s attention.

The event underscores the complex dynamics of digital music platforms. Streaming charts represent more than simple popularity metrics. They reflect intricate algorithmic and investigative processes.

Wizkid continues to demonstrate his significant influence in Nigerian and global music scenes. ‘Kese (Dance)’ represents another milestone in his remarkable musical journey.

Fans remain eager to experience the full ‘Morayo’ album, anticipating another potential chart-topping release from the superstar artist.

Check out more updates here.

MUSIC

Davido’s “Na Money” Wins Best Costume/Styling At Berlin Fashion Film Festival

Published

24 hours ago

November 21, 2024

Reporter

Na Money wins best costume at Berlin fashion film festival | fab.ng

Davido’s “Na Money” music video, featuring Angélique Kidjo and The Cavemen, has earned the prestigious Best Costume/Styling (Craft) award at the 12th Berlin Fashion Film Festival.

The vibrant video is directed by Dammy Twitch and produced by Blessing Uzzi. The video captivated audiences with its colourful costumes, cultural depth, and breathtaking visuals. This celebrates African heritage with impeccable creativity and style.

The win underscores the team’s exceptional attention to detail in showcasing the beauty of African fashion and culture. From the elaborate traditional attire to the contemporary designs, the video seamlessly blends visual artistry with the powerful Afrobeat sound of the track.

This recognition cements “Na Money” as a benchmark for combining music and fashion in innovative storytelling.

The Berlin Fashion Film Festival celebrates fashion and film annually.

It has recognized outstanding talent since its establishment. The festival is part of the larger Berlinale, a global cinema event dating back to 1951.

It focuses on creativity and craftsmanship in filmmaking. The festival highlights emerging talent across various artistic disciplines. It awards prestigious honours like the Golden Bears.

The event attracts filmmakers, designers, and film enthusiasts from around the world. The festival provides a platform for innovative storytelling through visual media.

Recognizing creative excellence supports artistic development. The award represents a significant achievement for artists and creators. For Davido and his team, this recognition underscores their contribution to global cultural representation.

The festival continues to be an important stage for showcasing innovative artistic expressions.

The video’s dynamic visuals and cultural richness not only earned industry accolades but also resonated with fans worldwide.

To experience the award-winning brilliance firsthand, watch Davido’s “Na Money,” featuring Angélique Kidjo and The Cavemen, now.

Let the stunning visuals and captivating storytelling take you on a journey through Africa’s vibrant cultural tapestry.

Explore the full list of winners on the festival’s official site and join in celebrating this milestone for African music and fashion.

Watch the video below.

Check out more updates here.

MOVIES

“The Interrogation Of Lotanna” Bags 6 Nominations At The FilmJoint Awards 2025

Published

3 days ago

November 19, 2024

Reporter

The Interrogation of Lotanna: 6 nominations at TFA 2025 | fab.ng

Reginald Jumbo’s compelling short film “The Interrogation of Lotanna” has earned prestigious recognition with six nominations at the upcoming 2025 Film Joint Awards.

The nominations span major categories. They include Best Picture, Best Director, Best Actor in a Leading Role, Best Indigenous Film (Nigeria), Best African Film, and the Best Jury Award for Outstanding Storytelling.

The FilmJoint platform stands as a vital global initiative that connects short filmmakers with international audiences. They provide them with a stage to showcase their creative works.

Through its annual awards ceremony, FilmJoint celebrates exceptional short films that advance African cinema’s artistic and cultural landscape.

Producers Ibukun Serah Adetoyinbo and Oreoluwa Obadofin bring to life a gripping narrative set against the backdrop of civil unrest.

The plot follows Captain Ardo, a military commander tasked with suppressing an eastern rebellion led by the elusive Zuru Nkwu.

After months of fruitless searches, intelligence leads Ardo to interrogate a suspect named Lotanna. Despite enduring severe torture, Lotanna steadfastly maintains his innocence throughout the ordeal.

The film showcases powerful performances from an ensemble cast. The cast features William Chinoyenem, Cassey Oritsejolomi, Anthony Nwahiri, Francis Sule, Michael Embraiz, and Mr. Rala.

Each actor brings depth and authenticity to their respective roles, contributing to the film’s emotional impact and storytelling prowess.

These nominations underscore the film’s artistic merit and its significant contribution to African cinema. The recognition from the FilmJoint Awards particularly highlights the film’s excellence in storytelling, direction, and performance.

Meanwhile, it also acknowledges its cultural significance as both a Nigerian and African production. The winners will be revealed at the 2025 FilmJoint Awards ceremony, where “The Interrogation of Lotanna” stands as a strong contender across multiple categories.

Check out more updates here.