Tag Archives: buhari

US Inauguration: Buhari react as Biden becomes 46th President.

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He expressed the hope that the Presidency of Biden and Harris will further strengthen cooperation and support for Nigeria and Africa.

President Muhammadu Buhari has said his government is looking forward to the Presidency of Joe Biden, “with great hope.”

This was contained in a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, titled “President Buhari: We look forward to working with President Joe Biden, Vice President Kamala Harris”.

The President congratulated the leaders and the entire country on the successful transition, which he said marked an important historical point for democracy as a system of government and for the global community as a whole.

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He said, “We look forward to the Biden Presidency with great hope and optimism for the strengthening of existing cordial relationships, working together to tackle global terrorism, climate change, poverty, and improvement of economic ties, with the expansion of trade.

“We hope that this will be an era of great positivity between our two nations, as we jointly address issues of mutual interest.”

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#Newsworthy

Nigerians mock Buhari Gov’t after Pigeons released during Armed forces remembrance refuse to fly.

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The action as expected sparked a debate on social media on Friday.

Nigerians have taken to social media to mock President Buhari after the doves, otherwise known as white pigeons, released by him at the Armed Forces Remembrance Day ceremony, refused to fly despite multiple attempts.

The President had opened the birdcage at the National Arcade, picked up one of the doves, and thrown it into the air but the bird landed atop the cage and refused to fly.

Buhari, who was eager to let the white pigeons fly, opened the roof of the cage in a bid to send them all out but the birds remained adamant and decided to sit on top of the cage’s roof.

The President, who appeared tired of trying, soon left the birds and returned to his seat. Moments after the President had left, however, some of the birds flew.

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Reacting on twitter, one Odoemena sarcastically wrote “there must be sanctions, those birds were given sleeping drugs to embarrass the president”

One Oyindamola wrote “Nothing moves in this country, not economy, not even pigeons”

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One Wunmi wrote “Just like the Nigerian citizens, these pigeons are very hungry and do not have the strength to fly”

The ritual of releasing doves is to commemorate the life of a departed loved one and is common at significant events like funerals or memorials. It also signifies peace.

In 2014, the doves refused to fly when former President Goodluck Jonathan freed them. The Spiritual Director of the Adoration Ministry Enugu, Rev Fr. Ejike Mbaka, described the incident at the time as a sign that God had abandoned Jonathan.

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The refusal of the birds to fly on Friday, however, sparked thousands of comments on social media.

A former presidential aspirant of the All Progressives Congress, Adamu Garba, said the birds should be eaten if they cannot do what they were trained to do.

“The pigeons are tired and overtime became lazy, they don’t want to fly the spirit of The Nigerian Flag. We should roast them at Suya joint and deploy Crowwe for action,” he said.

Social media personality, Morris Monye, said the Department of State Services would have arrested the pigeons for embarrassing the President if they could.

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“I guarantee you… If it was possible, the DSS would arrest the pigeons for such an affront on the President. But really, is there peace, harmony, and security in the land?” he asked.

A former Minister of Education, Oby Ezekwesili, who is a known critique of the President, also tweeted, “Hmmm. Even the pigeons in Nigeria.”

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#Newsworthy

COVID-19: Buhari, VP Osinbajo to take vaccine on TV as Nigeria reports 1,565 cases.

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He urged Nigerians not to be hesitant on the vaccines when they arrive as key government officials like president, VP and the SGF will take it on live TV.

The Federal Government has said President Muhammadu Buhari, Vice President Yemi Osinbajo, the Secretary to the Government of the Federation (SGF), Boss Mustapha and other prominent Nigerians will be among the first set of Nigerians to receive the COVID-19 vaccine on live television.

The Executive Director/CEO, National Primary Health Care Development Agency (NPHCDA), Dr. Faisal Shuaib, said this on Thursday in Abuja at the joint national briefing of the Presidential Task Force (PTF) on COVID-19.

According to him, “this is to help drive awareness on the virus and the vaccine administration in the country when it finally arrived.

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“So, we have to make provisions for them.

“Even in developed countries, what we have seen is that apart from the prioritisation of health workers, you have to also identify with critical leaders that you don’t want to be wiped off by the virus.

“For example, in warfare, if you want to destroy your enemies, you look for specific leaders, captains, the generals; once you decapitate them, then the soldiers will become weak.

“So, as much as possible, you do not want to also leave your leaders vulnerable to COVID-19, it doesn’t mean you want to prioritise politicians, that is not correct,” he said.

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Noble Reporters Media reports that Nigeria intends to get 42 million COVID-19 vaccines to cover one fifth of its population through the global COVAX scheme.

The initial vaccines would come as part of Nigeria’s plan to inoculate 40 per cent of the population in 2021 and another 30 per cent in 2022, with 100,000 doses of the Pfizer vaccine arriving by the end of January 2021.

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#Newsworthy

Budget’21: See the most important bill Buhari signed into law for 2021

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The signed budget comprises total Capital Supplementation of N1,060,751,051,650.

President Muhammadu Buhari on Thursday in Abuja signed the 2021 Appropriation Bill of N13,588,027,886,175 into law.

The president’s action followed the earlier passing of the bill by the National Assembly on Dec. 21 during an emergency session convened for the purpose of passing the budget.

The signing of the budget is also in line with the president’s promise to return the nation to the January to December Budget circle.

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The budget estimate was increased by the sum of N505, 607,317,942 from the estimate of N13, 082, 420, 568,233 presented to the joint sitting of National Assembly by President Buhari on Oct. 8, 2020.

Statutory Transfer stands at N496,528,471,273; recurrent Expenditure of N5,641,970,060,680 and Gross Domestic Product (GDP) growth rate of 3.00 Per cent.

It also provides N3,324,380,000 trillion for debt servicing while N5,641,970,060,680 is for Recurrent Expenditure; and N4,125,149,354,222 for Capital Expenditure.

The president also signed the 2020 Finance Bill into law.

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Those who witnessed the signing of the budget include the Vice-President, Yemi Osinbajo, Senate President Ahmad Lawan and the Speaker of the House of Representatives, Femi Gbajabiamila.

Others at the Council Chamber were the Secretary to the Government of the Federation, Boss Mustapha, some cabinet ministers as well as few top government officials.

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#Newsworthy

Just in: President Buhari signs 2021 budget. [Nigeria]

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The National Assembly also provided the sum of N3,324,380,000 (trillion) for debt servicing.

President Muhammadu Buhari has signed the 2021 Appropriation Act.

Buhari officially signed the document at a ceremony held in the Presidential Villa, Abuja. Noble Reporters Media reports

The National Assembly had on December 21, 2020, passed the 2021 Appropriation Bill with an aggregate expenditure of N13, 588, 027,886, 175 trillion.

It comprises total Capital Supplementation of N1,060,751,051,650 and total Capital Expenditure of N4,125,149,354,222, Statutory Transfer stands at N496,528,471,273; recurrent Expenditure of N5,641,970,060,680 and Gross Domestic Product, GDP growth rate of 3.00 Percent.

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The parliament increased the budget estimate by the sum of N505, 607,317,942 from the estimate of N13, 082, 420, 568,233 presented to the joint sitting of National Assembly by President Buhari on October 8, 2020.

Present to witness the ceremony were Vice President Yemi Osinbajo; President of the Senate, Ahmad Lawan; Speaker, House of Representatives, Femi Gbajabiamila; Secretary to Government of the Federation (SGF), Boss Mustapha; Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed among other government officials.

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#Newsworthy

Deploy refurbished tractors to food farmers – Buhari directs NASENI

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The NASENI boss reiterated the commitment of the agency to build Nigeria and Nigerians’ confidence in providing capital goods, machines and equipment needed for industrialisation and transformation of the economy.

President Muhammadu Buhari has ordered the National Agency for Science and Engineering Infrastructure (NASENI) to deploy all refurbished tractors to farmers to boost agricultural activities in the country.

The Vice Chairman of NASENI, Prof. Mohammed Sani Haruna, told State House correspondents that the president gave the order when he updated (Buhari) him on the activities of the agency at the Presidential Villa, Abuja, on Wednesday.

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Haruna stated that the presidential directive was in line with the Buhari administration’s efforts to revamp the agricultural sector.

NoRM learnt reports that President Buhari had on Dec. 29 assured Nigerians that his administration would keep a keen eye on food inflation in the New Year by ensuring food security through mass agricultural activities across the country.

However, the NASENI boss, who said he updated the president on the achievements as well as challenges of the agency, quoted Buhari as saying that one of the most crucial modern implements required to till the ground to aid farmers to realise bountiful harvests are farming aids like tractors.

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“My briefing of Mr President today is a routine. Mr President is the Chairman, Governing Board of NASENI.

“So, we are here to update him on the activities of the agency – what we have achieved so far within this period and what we need his intervention on,’’ he said.

He said that the agency had successfully refurbished several of such tractors at its institute in Minna, Niger, through the Partnership arrangements.

He named the trio of Machine & Equipment Consortium Africa (MECA), the Nigeria Incentive-Based Risk Sharing System for Agriculture Lending (NIRSAL) and NASENI as principal partners in the project.

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He stated that the president was eager to see that the tractors were deployed to farmers before the next farming season.

According to him, the president is concerned about the state of drudgery and suffering by farmers without modern farm implements.

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Haruna said the president, who is the Chairman of the Governing Board of NASENI, expressed satisfaction with the activities of the Agency most especially the efforts to fabricate agricultural tools and reverse-engineering of modern machines and equipment aimed at boosting agricultural activities.

He said the presidential marching order and the availability of the tractors already on ground in the Agency was a proof that the agency was fulfilling or alive with its mandate.

“All what we need is support by every Nigerians and governments so we can continue to fulfil our mandate to the nation,’’ he added.

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He listed the achievements of NASENI to include the production of First made-in-Nigeria Tricycle (KEKE NASENI), both Passenger and cargo types.

According to him, the technology has been handed over to Innoson Vehicle Nigeria LTD for commercialisation and mass production for the markets.

He further disclosed that NASENI had designed and produced First Made-in-Nigeria Motorcycle, First Made-In-Nigeria Solar Powered Electronic Voting device.

He added: “NASENI is the Agency of government currently manufacturing locally Solar panels and other solar products and accessories in the whole of West Africa.

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“NASENI has produced first made-in-Nigeria transformers which was designed and produced by Nigerian Engineers who were trained recently in China, all were engineers in NASENI.’’

Haruna stated that the agency had produced an unmmaned Aerial vehicle (UAV), used for the purpose of Agriculture (spraying of insecticides on farms) and surveillance purpose and many more.

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#Newsworthy

Buhari would get ‘no apology’ over summon on insecurity issues – Reps

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Twenty-hours later, House of Representatives Speaker Femi Gbajabiamila said the president had agreed to address the lawmakers. Buhari later shunned the invitation.

Nigeria’s House of Representatives on Monday denied apologising to President Muhammadu Buhari for summoning him over the state of insecurity in the country.

“The president or the Presidency as the case may be never sought an apology from the House of Representatives for carrying out her constitutional responsibility to the Nigeria electorate,” House of Representatives spokesman Benjamin Kalu said in a statement.

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“For the avoidance of doubt, the House never apologised to anyone for excercising her constitutional mandate.”

The denial by the House of Representatives was in response to media reports during the weekend that the legislative arm of government apologised to Buhari for summoning him over insecurity in the northern region.

One of the reports claimed that the House has dropped both “immediate and future” plans of inviting Buhari to address the lawmakers on rising insecurity in the country.

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The House of Representatives on Tuesday, December 1 passed a resolution and summoned Buhari to address the country over the killing of more than 40 farmers in Borno state.

The motion was moved by Satomi Ahmad, lawmaker representing Jere federal constituency, and nine others from Borno State. The lawmakers insisted that Buhari had to address the lower legislative chamber of the National Assembly.

Nigeria’s attorney-general Abubakar Malami argued that the House lacked the constitutional powers to summon the president.

While the House is yet to speak on Buhari’s refusal to honour the lawmakers’ invitation, House of Representatives spokesman Kalu said it will “not do anything to desecrate or destroy the critical institution of democracy.”

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“We strongly believe that President Muhammadu Buhari subscribes to these democratic ethos and ideals as well.

“Media professionals are advised to uphold the ethics of their profession.”

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#Newsworthy

Xmas’20: Gov’t declares public holidays

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While felicitating with Christians and all Nigerians both at home and abroad on this year’s Christmas and New Year Celebrations, Aregbesola urged Christians to adopt the creed of Christ on faith, hope and love.

The Federal Government of Nigeria has declared Friday 25, Monday 28 December 2020 and Friday, January 1, 2021 as public holidays to mark the Christmas, Boxing Day and New Year celebrations respectively.

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The Minister of Interior, Rauf Aregbesola, made the declaration on behalf of the federal government in a statement signed on Wednesday by the permanent secretary of the ministry, Dr Shuaib Belgore.

“We must emulate the life of humility, service, compassion, patience, peace and righteousness that the birth and ministry of Jesus Christ signified, that will be the best way to know Christ and celebrate his birth,” he said.

He noted that peace and security are critical factors needed to enable government accomplish its mission of revitalizing the economy, improving Foreign Direct Investment as well as generating employment opportunities for over 100 million Nigerian youths in the next 10 years.

COVID-19 warnings

Aregbesola advised Nigerians, and Christians in particular, to adhere strictly to the COVID-19 protocols and guidelines, as stipulated by relevant authorities, during and after the yuletide, especially with the second wave of the outbreak of the disease.

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The Minister, who reiterated federal government’s avowed commitment to the fight against armed banditry, kidnappings and other crimes and criminalities in the country, called on Nigerians to support the efforts of the security agencies by providing them with information that will enhance intelligence gathering.

While admonishing all Nigerians to remain focused, determined, patient and patriotic, Aregbesola expressed confidence that the year 2021 would be a better year for all Nigerians and therefore urged Christians to use the period to pray for Nigeria.

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#Newsworthy

Femi Adesina finally speak on Buhari being cloned as Jubril in 2017

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The rumour of Buhari being dead and cloned has lingered for years in the country, with many people believing that the man in Aso Villa is not Muhammadu Buhari but Jubril from Sudan.

As President Muhammadu Buhari Mark’s 78th birthday in Daura, Katsina on Friday, his Special Adviser on Media and Publicity, Femi Adesina, has addressed claims that the former Head of State died during a medical vacation in London in 2017.

But in a lengthy article he made available to NoRM‘s known Media on Friday, Adesina told some stories to make Nigerians believe that the claims were false.

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“This is Jubril from Sudan and not Muhammadu Buhari, who had died during the medical vacation in 2017, some people say. You have a clone in Aso Villa, not Buhari. Idiocy, sadly believed by even some intellectuals,” Adesina began.

“Let me tell you a story. On the day the President finally returned to the country in August 2017, after months of absence, the Chief of Defence Staff, Gen Abayomi Olonisakin, was giving out his daughter in marriage.

“I had attended the church service, decked unusually in complete Agbada, with a cap to match. From the wedding, I went straight to the airport to join the reception party.

“We formed a welcome line, as we usually do. And as the President shook each person, he had one wisecrack or the other to say. When he got to me, he took my hand and said: ‘Adesina, this is the best I’ve seen you dressed.’

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“We both laughed heartily, and the television cameras captured it. I remember that many people asked me later what had tickled me and the President, that we laughed so uproariously.

“Jubril from Sudan? Would he know my name as Adesina? Would he know I rarely wear Agbada? How ridiculous can some people be?”

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#Newsworthy

Buhari agrees South West will produce President in 2023

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The NEC approved the extension of the six-month tenure of the Mai Mala Buni-led Caretaker/Extraordinary National Convention Planning Committee for another six months.

The Caretaker Chairman of the All Progressives Congress in Lagos State, Mr Tunde Balogun, has disclosed that the founding fathers of the party had an agreement in 2014 that the South-West geopolitical zone would produce the party’s presidential candidate for the 2023 election, NoRM reports.

Balogun said it would be “dishonourable” for the party to jettison the agreement now, adding that President Muhammadu Buhari, the National Leader of the APC, Asiwaju Bola Tinubu, and many other persons made the “gentleman’s agreement”.

There have been insinuations among some party members and chieftains that the resolutions of the National Executive Committee meeting, presided over by Buhari on Tuesday, was a ploy by some party chieftains to hijack the control of the party for personal interest, including scheming towards 2023.

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It also approved the immediate dissolution of the party organs at the polling units, wards, local government, states and zonal levels as well as the non-National Working Committee component of the National Executive Committee.

It after that approved their immediate reconstitution and composition of the dissolved excos to serve in their respective offices in a caretaker committee capacity, excluding the non-NWC members of NEC.

But speaking on Saturday, Balogun said, “In 2014, the founding fathers of APC had a gentleman’s agreement and they committed themselves to the agreement. The party was victorious because they honoured the agreement they made and everyone worked together for the party in 2015 and 2019.

“According to the 2014 agreement, the South-West should be the zone to produce the presidential candidate in 2023. Among them (those present) were President Buhari and Asiwaju Tinubu.

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“What I want is for this agreement to be honoured by the founding fathers. I do not doubt in my mind that they are men of honour. An agreement was reached and that agreement produced Buhari as the President in 2015 and 2019, so to jettison the agreement now will be dishonourable.

“As I said, they are men of honour and I hope they will honour the agreement. They know what I’m talking about. Anything different from following the agreement is like shifting the goalpost.”

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#Newsworthy

Insecurities: Buhari urges state Govs to work with traditional rulers

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Buhari said violent demonstrations would no longer be allowed, saying “democracy does not mean confusion or lack of accountability’’.

President Muhammadu Buhari has urged the 36 state governors of the federation to work more with traditional rulers and community members to improve local intelligence gathering that will aid the work of security agencies.

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The president’s spokesman, Malam Garba Shehu, in a statement, said Buhari gave the charge at the of a security meeting with the 36 governors in Abuja on Tuesday.

According to the presidential aide, Buhari listened to presentations by a governor from each of the six Geo-Political Zones on their specific security challenges.

The president recalled that in the old order communities identified new comers and passed the information to constituted authority.

He said: “The sub-region is no longer safe, more so with the collapse of the former Libyan leader, Muammar Gaddafi’s regime and the cross border movement of weapons and criminals.

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“Governors must work with traditional rulers. Try and work with traditional rulers to boost intelligence gathering.’’

While giving an overview of the security situation in each of the zones, the president said his administration had done well in the North East and South South, adding that the South South situation was still worrisome.

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“Every day I get situation reports about illegal refineries and the blowing up of pipelines. You must stop local rogues from sabotaging oil installations,’’he said.

Addressing the issue of banditry and kidnapping reported in each of the geo-political zones, Buhari said:

“Security is important and we must secure the whole country.

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”We are thinking very hard on the issue of kidnapping.

”We will make it possible for the military to get to the bandits and kidnappers and eliminate them.’’

He explained that the closure of the nation’s land borders was partly an attempt to control the smuggling in of weapons and drugs.

“Now that the message has sunk in with our neighbours, we are looking into reopening the borders as soon as possible.’’

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Buhari gave assurances that the country’s military would continue to get the support they needed to fight criminals.

“I am not going to the public to speak about the vehicles and equipment we have ordered.

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”What I can say is that the military received armoured cars and other equipment and they are training the trainers.

”More of such equipment, including military aircrafts will come in,’’he added.

On the issues raised on #ENDSARS protest and its hijack by hoodlums to cause mayhem and destroy private and public property, Buhari sounded a strong warning about a reccurrence, saying that no responsible government would allow that to happen.

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“We do not stop anyone from demonstrating, but you don’t set up roadblocks and smash windscreens. Which government will allow that?’’

He noted that the foreign press coverage of the #ENDSARS violence was not balanced, citing specifically the CNN and BBC, for omitting the number of policemen killed, police stations that were razed, and the prisons that were thrown open for inmates to escape.

“I was disgusted by the coverage, which did not give attention to the policemen that were killed, the stations that were burnt, and prisons that were opened. (They said we are all at fault. We don’t have the sympathy of anyone. We are on our own).’’

On the eight-month long strike by Academic Staff Union of Universities, the president said lecturers had not taken into consideration the larger challenges facing the country.

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“Government conceded something. The problem is that they refused to look at the problem of the whole country. The Minister of Labour is working hard at it.

”It is amazing how ASUU will stay out of classrooms for so long. There’s a need for our elites to understand the challenges facing the country.’’

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#Newsworthy

Army Generals get last warning from Buratai

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Buratai revealed that he was aware that some generals were being ‘approached’ and his eyes are on them.

Chief of Army staff, Tukur Buratai has extended a stern warning to military generals to stay away from politicians and individuals approaching them to plan a ‘coup’.

The stern army chief made this known on Friday during the decoration ceremony of 39 newly promoted Major Generals.

“Democracy has come to stay. We will not tolerate any agent of destabilisation. The years of military misadventure in politics have never carried us anywhere. It is over,”.

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“Do not hobnob with politicians. At this rank of two star generals, do not lobby for appointment. If you want to lobby for appointment, lobby the Chief of Army Staff and you can only do this through hard work, discipline and loyalty. The crop of officers (39 Major Generals) decorated yesterday will never be dragged into any interest that is contrary to the sustenance of democracy in our nation.”

“All our eyes are on you. We know there are several moves to get your attention. You must make sure that whatever you are doing, and when some persons approach you, you must act within the confines of the constitution.”

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#Newsworthy

Borno Massacre: Buhari Must Resign Now! – Nigerians flare

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The killing had stirred reactions of anger in Nigerians, who demanded Buhari’s exit from office over his alleged failure to ensure the protection of lives and properties.

Some aggrieved Nigerians on Monday called for the immediate resignation of President Muhammadu Buhari.

They made the call following the spate of insecurity in the country and Boko Haram’s latest killings in Borno State.

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Recall with NoRM that Boko Haram terrorists had beheaded over 43 rice farmers in Zabarmari, Jere Local Government Area of Borno State, over the weekend.

NoRM curated calls for the president’s resignation from Twitter on Monday after the hashtag trended on the microblogging site.

@TripleOGLston: “The insecurity in Nigeria and the new level of hardship are all indications that Buhari and APC have failed Nigerians, they should do the honourable. thing and fuck off !!! Dem just sit down dey collect loans wtf ?! Face with symbols over mouthFlag of NigeriaFacevomiting #BuhariResignNow.”

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@TosinOlugbenga: “Dear Arewa People, It is meaningless trending #SecureNorth only on Twitter, this has lingered too long. Demand #BuhariMustGo

Demand #BuhariResignNow

Demand #SackTheServiceChiefs. Occupy the streets across the north protesting, how many more to die? Do something NOW.”

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@Imran_Tela: “I see no reason for you guys to still making excuses for Buhari’s failure we all knew he can’t do it let him go.#BuhariMustGo

BuhariResignNow.”

@taiwo1989: “Buhari promised us all dis back in 2015 and now he is killing us..

BuhariResignNow.”

@falah_verda: “Nigeria can’t take a third recession. I need to graduate soon and start my career. And for this to happen #BuhariMustGo.”

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@SaniBasharA1: “Let’s keep it up, enough is enough for the killings in North #ZabarmariMassacre

ZabarmariMassacre#BuhariResignNow #BuhariResignNow.”

@XahraBKumbo: “43 innocent farmers were brutally killed by Boko Haram. We’re not safe in this country

@MBuhari doesn’t care about the killings in the north. We’re tired, we need action now, we can’t tolerate it anymore

Buhari please Resign for our peace. Loudly crying face

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ZabarmariMassacre#BuhariResignNow.”

@Real_AmakaIke: “Had it been it was herders that were killed by #BokoHaram in #Borno,@MBuhari would have landed in #Maiduguri by now. #BokoBuhari

BuhariResignNow #ServiceChiefsMustGo.”

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#Newsworthy

Buhari Gov’t getting former president, Jonathan’s secret service – APC

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Jonathan lost to Buhari in the 2015 general elections, but he has since taken up several diplomatic assignments across the continent.

The All Progressive Congress (APC) on Friday said former President Goodluck Jonathan has supported the current administration despite being a card-carrying member of the Peoples Democratic Party.

APC Spokesman, Yekini Nabena, made the comment while appearing on Channels Television’s Politics Today.

Also appearing on the show was PDP spokesman, Mr Diran Odeyemi who said a number of APC governors are set to defect to the PDP.

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“Goodluck Jonathan has been working for this government,” Mr Nabena said. “He has been going to all African countries. If he is not a progressive person, he won’t have been working for this government. So the PDP should also know that.”

Recently, the ex-President led talks that helped to de-escalate the crisis in Mali.

Mr Nabena, on Friday, argued that Jonathan’s work is evidence of the APC’s progressive streak.

However, Mr Odeyemi disagreed, reiterating that the APC is set to witness a couple of top defections to the PDP.

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“Many APC Governors are talking to us,” Mr Odeyemi said. “Perhaps Nigerians have not seen the end of these activities. More Governors from APC are coming to join us. And I’m saying it with all emphasis.

“The question we have to ask ourselves is, what has been the achievements of APC now, that will now warrant people to join them, if not for selfish reasons? Nigeria knows which party to vote for in 2023 and that’s what we rely on.”

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#Newsworthy

Buhari Gov’t to slash levy on imported cars to 5% as against 35%

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Once the bill has been passed by the legislature and signed by President Muhammadu Buhari, it’ll automatically become law.

The federal government of Nigeria has concluded plans to slash the levy to be paid on imported cars from 35 percent to five percent, according to a new bill to be presented to the national assembly.

The bill which will come as a welcome development to Nigerians who have been financially impacted by a 2020 year plagued by the Coronavirus pandemic, is contained in the draft bill of the 2020 finance bill to be presented to the national assembly.

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The bill also shows that the import duty of tractors and motor vehicles for the transportation of goods will be slashed from 35 percent to 10 percent while tax relief will be granted to companies that donated to the COVID-19 relief fund under the private sector-led Coalition against COVID-19 (CACOVID).

According to Zainab Ahmed, the Nigerian minister of finance, budget, and national planning, had previously explained that the reduction in import duties and levies is being done to reduce the cost of transportation.

“The reason for us is to reduce the cost of transportation which is a major driver of inflation especially food production,” she told state house correspondents at the end of the federal executive council (FEC) on Wednesday, November 18.

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Recall with NoRM on Wednesday November 18, media aide of Vice President Yemi Osinbajo, Laolu Akande, tweeted on the reduction of import duty.

“President Muhammadu Buhari’s administration is proposing more tax incentives in the 2020 Finance Bill including import duty reductions from 35 to 10% & 0% levies on tractors, transport vehicles & co, 50% reduction of minimum tax, specific TETFUND exemption.

“There would also be tax relief for contributions to the COVID-19 Relief Fund, while retirees’ compensation exemption threshold is to be raised from N10,000 to N10million & software acquisition would now qualify as capital expenditure allowing for tax recovery of same. Expect more.”

The bill could be read to the national assembly this week.


#Newsworthy

Buhari’s led Gov’t drives Nigeria into fresh recession

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NBS said the economy slipped into recession at the end of the third quarter (Q3) which ended in September.

The Nigerian economy has recorded a second recession in the current political dispensation, according to the National Bureau of Statistics (NBS),the country’s official data agency.

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Nigeria’s economy went into a recession in 2016 following a lull in economic activities as a result of the delay in the appointment of ministers and other key appointees upon take over of the reins of government in 2015 President Buhari.

According to the NBS, this recession is the worst since 1987 as the Gross Domestic Product in real terms declined by -3.62% (year-on-year) in the third quarter of 2020 and is driven by the long closure of the Nigerian borders which restricted economic movements across the borders.

“Nigeria’s gross domestic product (GDP) recorded a growth rate of –3.62% (year-on-year) in real terms in the third quarter of 2020,” NBS said on Saturday.

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“Cumulatively, the economy has contracted by -2.48%While this represents an improvement of 2.48% points over the –6.10% growth rate recorded in the preceding quarter (Q2 2020), it also indicates that two consecutive quarters of negative growth have been recorded in 2020.

“Furthermore, growth in Q3 2020 was slower by 5.90% points when compared to the third quarter of 2019 which recorded a real growth rate of 2.28% year on year.

“The performance of the economy in Q3 2020 reflected residual effects of the restrictions to movement and economic activity implemented across the country in early Q2 in response to the COVID-19 pandemic.

“As these restrictions were lifted, businesses re-opened and international travel and trading activities resumed, some economic activities have returned to positive growth. A total of 18 economic activities recorded positive growth in Q3 2020, compared to 13 activities in Q2 2020,” it explained further.

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The report also said during the quarter under review, aggregate GDP stood at N39,089,460.61 million in nominal terms, adding that the performance was 3.39% higher when compared to the third quarter of 2019 which recorded an aggregate of N37,806,924.41 million.

“This rate was, however, lower relative to growth recorded in the third quarter of 2019 by –9.91% points but higher than the proceeding quarter by 6.19% points.

“For clarity, the Nigerian economy has been broadly classified into the oil and non-oil sectors:The contract mark the beginning of a full-blown recession and second consecutive contraction from -6.10 per cent recorded in the previous quarter of this year.”

According to the numbers contained in the report, oil GDP contracted by -13.89 per cent from -6.63 per cent in the second quarter of this year and 6.49 per cent in Q3 2019.The country’s non-Oil GDP contracted -2.51 per cent from -6.05 per cent in Q2 2020 and 1.85 per cent in Q3 2019 Information & Communication under Services GDP grew 14.56 per cent compared to 16.52 per cent in Q2 2020 and 9.88 per cent in Q3 2019.

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Services real GDP contracted by -5.49 per cent compared to -6.78 per cent in Q2 2020 and 1.87 per cent in Q3 2019.

Construction under Industry real GDP grew by -2.84 per cent compared to -31.77 per cent in Q2 2020 and 2.37 per cent in Q3 2019.

Industry real GDP contracted by -6.12 per cent compared to -12.05 per cent in Q2 2020 and 3.21 per cent in Q3 2019. Telecoms real GDP grew by 17.36 per cent compared to 18.1 per cent in Q2 2020 and 11.3 per cent in Q3 2019.

Agricultural sector grew by 1.39 per cent compared to 1.58 per cent in Q2 2020 & 2.28 per cent in Q3 2019.


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