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.”

NEWS

Bobrisky Released On Bail After Denying 15 Million Naira Bribery Allegations

Published

7 hours ago

November 4, 2024

Reporter

Bobrisky granted bail after denying N15m bribery allegation | fab.ng

The Economic and Financial Crimes Commission (EFCC) recently granted bail to Idris Okuneye, popularly known as Bobrisky, following his detention.

On Thursday night, Bobrisky was apprehended and removed from a KLM flight bound for Amsterdam at Lagos’s Murtala Muhammed International Airport while attempting to travel to London.

Subsequently, Bobrisky took to social media to inform his followers about his arrest, claiming to have sustained injuries during the incident.

He posted, “Nigerians, help me, EFCC just arrested me. I’m badly injured.”

After his arrest, officials transported him to the EFCC headquarters in Abuja for questioning over alleged bribery claims involving the commission.

The allegations arose when social media critic Martins Otse, known as VeryDarkMan, released a voice note reportedly featuring Bobrisky’s voice. In the recording, Bobrisky allegedly claimed he had bribed EFCC officials with N15 million to drop money laundering charges.

However, late on Friday, November 1, authorities processed Bobrisky’s bail, and he regained his freedom shortly after. EFCC spokesperson Dele Oyewale confirmed the release on Saturday but declined to provide additional information.

A source close to the case disclosed that Bobrisky denied all bribery allegations in his official statement. He also challenged the voice note’s authenticity, urging the individual who shared it to prove the claims.

According to the source, Bobrisky asserted that no EFCC official had solicited money from him and insisted he had not offered any bribe.

Through this statement, Bobrisky maintained his innocence, asserting that the bribery accusations were baseless. Meanwhile, the EFCC has yet to comment further on the case. This leaves questions about the voice note’s origins and the nature of the allegations still unresolved.

BREAKING NEWS

Quincy Jones, Michael Jackson’s Producer, Dies At 91

Published

8 hours ago

November 4, 2024

Reporter

Quincy Jones, Michael Jackson's producer, dies at 91 | fab.ng

Quincy Jones, a legendary music producer renowned for his collaborations with iconic artists, passed away on November 4, 2024, at the age of 91.

His publicist, Arnold Robinson, confirmed the news. Jones’ family released a heartfelt statement, expressing their grief and celebrating his extraordinary life and enduring legacy.

They said,

“Tonight, with full but broken hearts, we must share the news of our father and brother Quincy Jones’ passing. And although this is an incredible loss for our family, we celebrate the great life that he lived and know there will never be another like him.”

They added, “We take comfort and immense pride in knowing that the love and joy, that were the essence of his being, was shared with the world through all that he created. Through his music and his boundless love, Quincy Jones’s heart will beat for eternity.”

Born in Chicago in 1933, Quincy Jones’s lineage was a complex tapestry of history. His mother descended from slave owners, while his father, half-white, was the son of a Welsh slave master and one of his enslaved women.

Jones’s early exposure to music began at home, where his mother’s singing and a neighbour’s piano ignited his passion. At the tender age of seven, he started learning to play the piano.

Following his parents’ divorce, Jones and his father moved to Washington State. There, he joined his high school band, mastering the drums and various brass instruments.

His musical journey took a significant turn at the age of 14 when he began performing in Seattle bars. A remarkable moment arrived in 1948 when he backed Billie Holiday, sharing the stage with a young Ray Charles.

After a brief stint at Seattle University studying music, Jones ventured to Boston to complete his education. His illustrious career, spanning over seven decades, was marked by groundbreaking collaborations with legendary artists.

He worked alongside Michael Jackson, Frank Sinatra, Ray Charles, and many others. Indeed, one of his most iconic achievements was producing Michael Jackson’s historic album, “Thriller.”

Check out more news updates here.

MOVIES

AMAA 2024: “The Weekend” & “Jagun Jagun” Take Home Major Wins

Published

9 hours ago

November 4, 2024

Reporter

AMAA 2024: The Weekend & Jagun Jagun Wins Big | fab.ng

The 20th edition of the Africa Movie Academy Awards (AMAA) took place yesterday, November 2nd, 2024, at the Balmoral Convention Centre in Ikeja, Lagos.

This year, the AMAA 2024 ceremony honoured first-time winners and celebrated the best in African cinema. This brought filmmakers from across the globe together under one roof.

Notably, Nollywood actor Segun Arinze and Ghanaian actress Joselyn Dumas hosted the event. In addition, legendary Afrobeat musicians Femi Kuti and Yinka Davies performed, adding a unique flair to the ceremony.

A line-up of pan-African artists, including Narh Tettey, Bedwei Kwaku, and Adina Thembi, further entertained the audience.

Leading the jury, filmmaker and curator Dorothee Wenner, along with a distinguished panel, reviewed the nominated films, recognizing exceptional talent and storytelling in African cinema.

Among the major highlights in AMAA 2024, the Nigerian-directed drama “The Weekend” dominated the evening. It won the “Best Film Award” for both Nigeria and Africa.

Furthermore, Femi Adebayo won the “Best Actor in a Supporting Role” award for his performance in the historical thriller “Jagun Jagun.”

Notably, after receiving seven nominations, the film also claimed awards for Achievement in Visual Effects and Make-up.

Meanwhile, Elsie Abang earned “Best Actress in a Supporting Role” for her performance in “KIPKEMBOI.” Likewise, Michell Lemuya claimed the “Best Young Promising Actor” award for her role in “NAWI.”

In the leading roles category, South Africa’s Zolisa Xaluva took home “Best Actor in a Leading Role” for his work in “The Queenstown King.”

Similarly, Ghana’s Jackie Appiah won “Best Actress in a Leading Role” for her performance in “Red Carpet.”

Continuing the list of accolades, “Letters to Goddo,” directed by Harry Bentil, won the “Best Feature Film by a Director” award. Meanwhile, Jahmil X.T. Qubeka earned the “Best Director” title for his work on “The Queenstown Kings.”

In recognition of lifelong achievements, the Academy presented Lifetime Achievement Awards to notable filmmakers Souleymane Cissé from Mali, Nacer Khemir from Tunisia, and Haile Gerima from Ethiopia.

Additionally, Alain Gomis from Senegal and Gabon, along with Zimbabwean author and filmmaker Tsitsi Dangarembga, received special recognition awards in AMAA 2024 for their valuable contributions to African cinema.

See the full list of AMAA 2024 winners below: