NEWS

Despite recession, Agric sector records three percent growth

Published

7 years ago

January 30, 2018

The Director-General, Budget Office of the Federation, Ben Akabueze, has revealed that despite the economic downturn caused by recession, the agricultural sector of the economy grew by three per cent.

Akabueze, who spoke at the Maiden Edition of Deloitte in Dialogue, tagged: Nigeria Economic Outlook 2018, disclosed this while relishing the opportunities that abound in the 2018 budget for the private sector.

He disclosed that the government is putting in more efforts to further boost the sector, saying: “The agricultural sector is one of the industries that the government is focusing on and it has seen some reasonable growth. Despite the biting recession, Agricultural sector recorded over three per cent growth.” Akabueze noted that the 2018 budget envisages development of value chain across 30 different commodities, including transportation, trading, marketing and exploit among others.

Speaking on transportation, the DG called for improvement across the different roads of the federation, noting that this would have a positive effect on the country’s economy.“You will not believe the impact of transportation in the economy. The sector is part of what has been holding up the inflation rate. Transportation cost is a significant driver of food cost, which is the reason for the inflation that we have. If we raise some investments in transportation the inflation around food will be lower.

“We expect that the budget will stimulate investment in some critical sectors, and we hope that the private investors will leverage on the opportunities that the 2018 budget present,” he stated.On his part, an associate professor at the Lagos Business School, Doyin Salami, decried the infrastructure deficit being passed on from one government to another.

He noted that the Federal Government needed to collaborate with the private sector to provide the necessary infrastructure, adding that an upsurge in international capital would necessarily boost Nigeria’s infrastructural deficit.“The state of infrastructure is critical to attracting foreign investment; the government must actively seek the participation of private investment in that area.

“Nigeria has elections in 2019, which, therefore, reduces her attractiveness in the international economic scene. It is not because it is Nigeria, but that is how it is anywhere in the world where there is election. We might see a reverse of capital inflows in Nigeria as the elections draw closer,” he said.

The Chairman, Federal Inland Revenue Service (FIRS), Babatunde Fowler, said the agency, which hit a record of N4trillion revenue in 2017, had initiated plans to move Nigeria to be among the top 50 countries in the ease of paying tax.Fowler urged businesses to take advantage of the tax amnesty initiative of the Federal Government, which would end in March, noting that “There would be no extension of the tax amnesty from the government after March.”

MUSIC

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

Published

5 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

9 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

2 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.