₦airaland Forum

SaiOba:
It baffles me why they are walking free. ALL THANKS to Sunday and Nnamdi, for their little efforts in seeing that these criminals were driven out of the southwest and southeast forests.

These are great fighters for their region against the terrorist North hence their continued incarceration

MightySparrow:
Okay nah



Buhari shied away from naming his kinsmen criminals.


Next is to prosecute them.

yes, Tinubu administration has exposed them, don't you think the north will fight back

MightySparrow:
I hope it is true.

yes

MMempire:
Have you started implementing the rules yourself @ OP.

Yes

1. Pay yourself first

2. Learn how to invest

3. Don't be a hater of it

4. Give every Naira a job

5. Spend less than you earn

6. Have a plan and set goals

7. Don't be a slave to money

8. Keep your finances organized

9. It's a game learn how it works

10. Always have an emergency fund

11. Always make money work for you

12. Learn how to make money passively

13. Use it to solve problems in the world

14. It's not what you make It's what you keep

DSS confirms arrest of Tukur Mamu, the man who negotiated the release of some of the hostages in the March 2022 train abduction in Kaduna.
Tukur Mamu accused of financing terrorism

The Federal Government has released the names of nine individuals and six Bureau De Change (BDC) operators financing terrorism in Nigeria.

This follows the directive of the Federal Government that the names of those financing terrorism in the country be published.

In the light of this, the Nigerian Sanctions Committee revealed the identities of those financing terrorism in Nigeria.


Popular among them is Tukur Mamu, a Kaduna based publisher as among the sponsors of terrorism. Mamu is the publisher of Desert Herald Newspaper.

See full list below

1. Tukur Mamu

2. Yusuf Ghazali

3. Muhammad Sani

4. Abubakar Muhammad

5. Sallamudeen Hassan

6. Adamu Ishak

7. Hassana-Oyiza Isah

8. Abdulkareem Musa,

9. Umar Abdullahi


The six BDCs are:

1. West and East Africa General Trading Company Limited


2. Settings Bureau De Change Limited

3.. G. Side General Enterprises

4. Desert Exchange Ventures Limited

5.. Eagle Square General Trading Company Limited

6.. Alfa Exchange BDC.

According to The Punch, details of the development were revealed by the Nigerian Financial Intelligence Unit, in an email on Tuesday night, entitled “Designation of Individuals and Entities for March 18, 2024.”

Documents released the Nigerian Sanctions Committee when it met on Monday revealed that Mamu participated in the financing of terrorism by receiving and delivering ransom payments over the sum of $200,000 US in support of ISWAP terrorists for the release of hostages of the Abuja-Kaduna train attack.

It added that one of the individuals is the suspected attacker of the St. Francis Catholic Church Owo, Ondo State on June 5, 2022, and the Kuje Correctional Centre, Abuja, on July 5, 2022.


Email: info@pmnewsnigeria.com

1. Just because you do something a lot doesn’t mean you’re good at it.

It’s called the Mere Exposure effect, and it’s the reason you still pee on the toilet seat.

2. When you change how you treat yourself, you change how others treat you.

3. Your health is your first and most important job. If you don’t protect your health,

you won’t be able to protect anything else—your happiness, family, or finances.

4. Your comforts are a threat.

5. Loneliness & social isolation can be as detrimental to your health as smoking or obesity

6. Every successful person you admire has embarrassed themselves in front of people they respect. To succeed at a high level, you will have to do the same.

7. You should live a life of intention, but only 95% of the time. Much of life’s spice is found in the margins of the unexpected.

8. Never silence your anger without listening to it first. Almost always, it’s trying to convey something important.

9. Entrepreneurship is the best vehicle for self-improvement. Whereas the rest of society rewards you for your excuses (with sympathy or favors), entrepreneurship inherently punishes all excuses. It's a powerful cure for Excusitis.

10. Sometimes pain serves no purpose other than to keep us from taking pleasure for granted

11. Give small loans to friends who seek them. A loan is an efficient, cheap way to gauge character.

12. Each time you do something (good or bad), you make it easier to do again.

13. Never being angry is a handicap.

14. It’s better to train yourself to accept everything that happens in life. To "accept" doesn't mean to love.

It just means to be at peace with it so you could move on to the next step; asking yourself: "How do I use this to grow?"

15. Living unauthentically is discounted living. At best, it's a C+

16. The game of life is rigged—some people have more advantages than you. But if you play your part to perfection,

You will find that you have been given just enough to meet your dreams and goals.

17. Fuckups serve a grander purpose, always. Each misstep moves the aimless closer to purpose, and the purposeful closer to attainment.

18. "Love thy neighbor as thyself" [Matthew 22:39] has an oft unnoticed implication: Learning to love yourself comes first.

19. Life is unpredictable, and bad things can happen to anyone at any time.

20. You will never have all the information you need. Consciously or otherwise, you must choose:


21. The best antidepressant is pushing your body so hard that your only concerns are air and water.

22. You will encounter people who do not like you or want to see you succeed.

23. Few things in life feel as sublime as a heart-felt kindness done without an ulterior motive.

24. Miscommunications destroy more relationships than death. Never walk away from a meaningful relationship without the other party knowing why.

25. To thrive, you must get used to disappointing others. The alternative is to live small.

yungchap:
What's the monthly charges and cost of each transaction made ??

your first 30 transaction is free

Expiration dates on bottled water is for the bottle and not for the water in it.

Every 35 days your skin replaces itself, your liver, every month. Your body makes these new cells from the food you eat. So, you are literally what you eat.

Mosquitoes don't just bite you, they also urinate on you after sucking your blood.

People pace while talking on the phone because they don't have visual feedback, so the body reacts by moving.

Most dust particles in your house are made from dead skin!

The “Blue Java” banana, a hardy, cold tolerant banana said to have a consistency like ice cream and a flavour similar to Vanilla.

Cockroaches can live for several weeks with their heads cut off, because their brains are located inside their body. They would eventually die from being unable to eat.

There is a naturally pink lake in Australia(Lake Hillier).

ATM’s were originally thought to be failures, because the only users were prostitutes and gamblers who didn’t want to deal with tellers face to face.

Butterflies will drink turtle tears when they need salt.

Earth is the only planet that is not named after a God in the whole solar system.

Flamingo egg yolks are pink.

If a pregnant woman has organ damage, the baby in her womb sends stem cells to help repair the organ.

Every Nation’s passport is a shade of blue, red, green, or black. There are no rules for the cover color, but most countries decided that the dark Hues looked the most official.

Beetles taste like apples, wasps like pine nuts, and worms like fried bacon.

“Cracking your knuckles does not hurt your bones and never cause arthritis. The sound you hear is just gas bubbles bursting.”

123yes:
This is wise decision by Colombian President. You can act tough like Nigerian president and you don't have means and liver to sustain that toughness. If that could bring solutions to Nigeria
numerous security problems why not. The government has been fighting boko Haram, bandits for years now without end in sight.

Boko Haram is not a Nigeria terrorist group,so the government can't negotiate with them

dawnomike:
Well, I do not support negotiating with 'criminals'. But, maybe it's not a bad idea

criminal and drug Lords are more powerful and influencial in Columbia that the government have no other choice than to negotiate with them

Colombia's president invites the country's largest criminal group to peace talks, and it accepts
Colombia’s largest criminal group says it has accepted President Gustavo Petro’s offer to start peace negotiations, but the next steps in any talks are not immediately clear

Petro on Monday night said he was willing to start peace negotiations with the group if it “dares” to leave drug trafficking, stops taxing local businesses and stops profiting from the transit of migrants heading to the United States.

The group responded on Tuesday with a statement on X saying it accepted the president’s invitation to start negotiations. It denied being involved in the smuggling of migrants.

The Gulf Clan was founded by former members of right-wing paramilitary groups that demobilized in the early 2000s. It has been described as an apolitical group that increasingly controls communities where it administers justice, taxes local businesses and employs youth.

The group has an estimated 9,000 fighters and earns more than $4 billion per year from its illicit activities, which makes it Colombia’s wealthiest armed group, according to a report published Tuesday by the International Crisis Group.

“The armed groups who are in negotiations (with the government) today are under military pressure not from the state but from the Gulf Clan,” Elizabeth Dickinson, the report’s author, told The Associated Press. “So hovering over all of the ongoing negotiation processes is this threat that laying down arms...translates into handing over illicit economies, territories and communities" to the group.

Dickinson said that starting negotiations with the Gulf Clan would be essential for the government’s efforts to pacify rural areas of Colombia.

But talks with the Gulf Clan have been hampered by legislation that limits the government's ability to negotiate with criminal groups that are not believed to have ideological motivations.

Colombia's “total peace” law, created during the early days of the Petro administration, designated the Gulf Clan as a criminal group instead of an insurgent group.

While a 2023 ruling by Colombia's constitutional court says the government can initiate talks with criminal groups, it is not allowed to offer them concrete terms under which they can disarm.

Instead, the Gulf Clan would have to negotiate its disarmament with Colombia’s attorney general.

On Monday, Petro said he had asked the attorney general to come up with terms under which the members of the Gulf Clan could collectively lay down their weapons.

“If they were born here, they have the right, like any other citizen, to discuss what they want for the future of their territory,” Petro said during a town hall meeting in Apartado, a town where the Gulf Clan is said to be active.

Nigeria’s total debt (Federal Government and states’ loans) may hit at least N107.38tn soon following the approval of fresh borrowings for the Federal Government and new securitisation of the Central Bank of Nigeria’s N7.3tn Ways and Means advances.

This is as the Senate, as of December 2023, approved President Bola Tinubu’s request to borrow $7.8bn and €100m as part of the Federal Government’s 2022-2024 borrowing plan. According to Tinubu, the Federal Executive Council under former President Muhammadu Buhari approved the loan facility on May 15, 2023, to finance infrastructure, health, education, agriculture, insecurity, and other sectors.

While asking for the approval, he the foreign loan was necessary to bridge the financial gap and return normalcy to economic activities in the country.

In a letter to the senate in November 2023, the president said, “The senate is invited to note that following the removal of fuel subsidy and its impact on the economy in the country, African Development Bank and the World Bank Group have indicated interest to assist the country in mitigating the economic shores and recent reforms with a sum of $1bn and $2bn respectively.


“In addition to the Federal Executive Council approved 2022-2024 external borrowing plan. Consequently, the required approval is 7,864,508,559 dollars and in terms of euros, 1000 million euros.

“I would like to underscore the fact that the projects and programmes borrowing plans were selected based on positive technical economic evaluations as well as the expected contribution to the social economic development of the country, including employment generation, skills acquisitions, supporting the emergence of more enterprenuers, poverty reduction, and food security to improve the livelihood of an average Nigerian.”

He added, “Given the nature of these facilities and the need to consolidate the country to normalcy, it has become exigent to request the senate consideration and approval of the 2022- 2024 external borrowing plans to enable the government to deliver its responsibilities to Nigerians through expeditious disbursement and efficient projects implementation.”


Nigeria’s total debt as of the end of September 2023 was N87.91tn, according to data from the Debt Management Office. The breakdown of this debt revealed total external debt as N31.98tn ($41.59bn) and total domestic debt of N55.93tn.

The total debt includes that of the Federal Government and state governments. Following the recent approvals by the senate, total debt will climb up by at least 22.15 per cent (N19.47tn) to N107.38tn in 2024 if the borrowing plan is followed to the letter.

The component of total debt, if the plan is followed, will include foreign debt of N44.15tn ($49.39bn converted at N891.9/$ and €100m converted at N969.92/€) and domestic debt of N63.23tn (old domestic debt of N55.93tn with new securitised Ways and Means of N7.3tn).

Between January 2022 and September 2023, the Federal Government grew its foreign loan profile by $3.20bn from $38.39bn to $41.59bn. It is unclear whether this is part of the 2022-2024 borrowing plan.

The PUNCH did not use a higher exchange rate like that of Friday, 2, 2024 when the naira closed at N1435.53/$ because of the optimism around the CBN’s latest move to stabilise the foreign exchange rate. The naira is expected to appreciate N900/$ in certain corners.

Raising total debt to N107.38tn will translate to 53.06 percent of the country’s 2022 GDP value of N202.37tn. The country has a targeted 40 percent debt to GDP ratio. The Medium-Term Expenditure Framework and Fiscal Strategy Paper 2024-2026 recently revealed that the country’s Total Public Debt/GDP was 41.15 percent as of June 2023.

Ways and Means is a provision that allows the government to borrow from the CBN if it needs short-term or emergency finance to fund deficit gaps. It typically is not added to the total loan profile of the country until it is securitised.

In May 2023, the National Assembly approved the securitisation of N22.7tn from the N23.3tn previously advanced by the CBN. This led to a substantial increase in the country’s total public debt profile.

The debt was transferred to the DMO with a 40-year tenor, a 3-year moratorium, and an interest rate of 9 percent. When it released its total debt profile for the second quarter of 2023, DMO said, “Nigeria’s total public debt stock as of June 30, 2023, was N87.38tn ($113.42bn). It comprises the total domestic and external debts of the Federal Government of Nigeria, the thirty-six states, and the Federal Capital Territory.

“The major addition to the Public Debt Stock was the inclusion of the N22.712tn securitized FGN’s Ways and Means Advances.”

It is important to note that the projected borrowing has not yet been secured and may take a while according to analysts conversant with government borrowings.

One analyst, who didn’t want his name in print, said, “It will take a while for the projection to happen. Some loans were approved in 2020, but we have not gotten the full amount. One of the loans, we have only received about 15 percent since 2020.”

Total public debt is also expected to grow by at least N7.83tn in 2024 based on the Federal Government’s budget projection for the year.

Recently, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed that the country is seeking $1.5bn from the World Bank.

He said to Bloomberg recently, “We’re hoping to get $1bn or $1.5bn from the World Bank for budgetary support.”

He also hinted that the country might issue a Eurobond in late 2024. He noted, “It is a matter of discussion at the moment, but we think we will get the support because we are continuing with our reforms.”

In October 2023, the Federal Government disclosed that it secured a budget support loan worth $1.5bn from the World Bank and another worth $80m from the African Development Bank.


Edun stated that the government would receive the $1.5bn before the end of 2023, provided it fulfilled its end of the deal.

He said, “The total is $1.5bn. The world today has one of the highest interest rates as the developed world looks to fight inflation. They do it by restricting money, and keeping interest rates high so that you can get inflation down.

“That means that interest rates for everybody else become not just high but very painful, if not unaffordable within that context.”

Edun has been quite vocal against loans, stating that to stabilise the economy the country would need to rely less on borrowing.

During the 2024 Budget presentation in 2023, he said, “The breakdown of different elements shows the direction of this administration in order to stabilise the Nigerian economy for rapid inclusive growth. There is going to be less reliance on borrowing.

“The budget deficit is being brought down to about from 6.1 percent to 3.8 percent of GDP. That is a huge change in direction from unlimited borrowing to focusing on revenue and expenditure management. There will be value for money on expenditure and increased revenue. The key target is to increase tax to GDP ratio from under 10 percent to 18 percent in a couple of years. That target, a hugely ambitious one is what we need to meet to reduce reliance on borrowings.”

Before this, Edun, while unveiling an eight-point agenda for the economy, said, “The government is not in a position to borrow if you consider 90 percent debt service to revenue, and behind that, a rising debt to GDP ratio. If you look at the last budget, you will see a borrowing requirement built into it and appropriated by the National Assembly. And that is ongoing.”

Recently, the Director-General of the Debt Management Office, Patience Oniha, noted high inflation rates have impacted how the country can enter the foreign market.

Speaking on the sidelines of the discussions for the establishment of the African Debt Managers Initiative Network spearheaded by the African Development Institute of the African Development Bank, she said, “There is still uncertainty around the world from the Russia-Ukraine war. So foreign investors are a bit more cautious.

“Let’s use the word, risk-averse and they are investing in those securities that are triple A or double A rating that are offering them high rates, four percent, five percent.”

The country’s rising debt profile has led to an increase in the cost of debt servicing over the years. The World Bank recently projected that debt servicing may gulp 123.4 percent of the Federal Government’s revenue in 2023.

Between January and July 2023, the Federal Government spent 75.92 percent of its aggregate revenue on debt servicing.


Nigeria is still reliant on Ways and Means financing, the World Bank recently stated. It said Federal budgets are prepared based on overly optimistic revenue projections that are often not realised during the year, causing financing gaps to emerge as actual fiscal deficits exceed budgeted fiscal deficits.

In its Nigeria Development Update for December 2023, the global bank declared, “Consequently, the FGN resorts to using Ways and Means financing—a quicker source of financing and one that is not officially accounted for as part of the FGN’s debt stock.”

In its 2024 outlook, the Nigerian Economic Summit Group disclosed that the government is still overly reliant on foreign debt to finance its budget deficit.

It said, “Currently, the Nigerian government is contending with a growing budget deficit, estimated at 85.4 percent of government revenue as of 2022 — surpassing the benchmark figure of 3.0 percent of GDP stipulated in the Fiscal Responsibility Act (FRA) 2007, owing to historical underperformance in revenue.

“The reliance on foreign debt to finance the budget deficit, exacerbated by the private sector crowd-out effects of domestic borrowing, has contributed to the escalation of the general price level and the depreciation of the exchange rate.”

The group noted that with an anticipated surge in government revenue due to substantial savings from removing fuel subsidies, the exchange rate devaluation, the expected rise in crude oil prices, and an improvement in crude oil production in 2024, the country will continue to fulfill its debt obligations.

In a document titled, ‘2024: The Hard Road Ahead,’ the Chief Executive Officer, Financial Derivatives Company Ltd., Bismarck Rewane, highlighted that Nigeria’s debt is becoming unsustainable and the country’s debt burden will be further worsened by high-interest rates in 2024.

He said, “Nigeria’s debt is becoming unsustainable. Nigeria serviced its debt with 99 percent of its revenue in H1’23. Nigeria’s debt burden will be exacerbated by high-interest rates in 2024. Efficient use of borrowed funds is crucial for its debt sustainability. The federal government must spend on productive sectors to boost revenue sources.”

He noted that a one percent increase in public debt will have a 16.7 percent negative effect on GDP and that if public debt increases to $114.3bn, real GDP growth will fall to 2.12 percent.

He added, “High debt burden but Nigeria is likely to withstand the shock.”



Contact: theeditor@punchng.com

CodeTemplar:
That's what Buhari did when he collected loans and agreed to repay it with future crude oil sales. Ghana also used their cocoa to take laons.

I think Africa as a whole needs restructuring. Let no govt be able to take above 2.5% of economy size as loans under any circumstance. Let loans be tied to internally generated revenue from industry and commerce and not to natural resource sales.

Yes,this is one of the reasons why African countries are the poorest in the world.

They always eat their cake before having it.

The International Monetary Fund (IMF) has strongly supported a call by the African Development Bank Group urging countries in Africa to stop borrowing loans backed by their natural resources.

The IMF Managing Director Kristalina Georgieva met with the President of the African Development Bank Group, Dr Akinwumi Adesina, in Abidjan, Côte d’Ivoire. It is the first time an IMF head has visited the Bank headquarters since its establishment in 1964.

Welcoming Georgieva, Adesina said, “the natural resource-backed loans are non-transparent, expensive and make debt resolution difficult.” He warned that if the trend continues, “it will be a disaster for Africa.”

Georgieva said the Fund’s senior management team will “carry out a thorough assessment. We will come with a strong voice to tell countries not to create avenues for predatory and enslaving loans.”

She said the issue would also be discussed at the Global Sovereign Debt Roundtable comprised of bilateral creditors, private creditors and borrowing countries. The roundtable is co-chaired by the IMF, World Bank and the presidency of the G20. The African Union joined the G20 in September as a permanent member.

Georgieva is on her way to Marrakech, Morocco, for the World Bank Group and IMF Annual meetings which last held in Africa 50 years ago.

The IMF chief said she is visiting Africa at a time when the continent holds much promise for more dynamic growth in the world.

“We often focus on the challenges that the continent is facing because it is here the impact of climate change is much more severe, where macro-economic and financial instability and debt are amplified.”

“But we want to focus on opportunities in Africa for the simple fact that the capital is in the North and a young population is in the South, primarily here in Africa. Unless we build a bridge for capital to flow to where it is needed most, it could lead to a bigger problem.”

Adesina praised bold efforts by the IMF chief and the US Secretary of Treasury Janet Yellen, at the height of the Covid-19 pandemic in 2021, to shore up the global economy by allocating $650 billion in Special Drawing Rights (SDRs).

Africa, with a population of more than 1.2 billion, received about $33 billion of SDRs, representing only 5 percent of the total allocation, the smallest portion among the different regions of the world.

The African Development Bank continues to lead conversations and develop models that will allow SDRs to be rechanneled through multilateral development banks. MDBs can leverage such resources three to four times their original values. Adesina thanked the IMF for working with the African Development Bank’s team on an initiative that could allow SDRs to be channeled through MDBs.

“Together with the Inter-American Development Bank we developed a model that meets the IMF’s reserve asset status. If you channel $5 billion through the Bank, we will use our leveraging power and that could easily become $20 billion of new financing for Africa,” said Adesina.

The Bank chief said the initiative would provide much-needed support to countries in Africa where post-pandemic debt remains a big challenge. “It’s more serious for low-income countries who constitute the Bank’s concessional lending window, the African Development Fund. They are also the most vulnerable in the world to climate change.”

Georgieva, who has publicly supported the Bank’s initiative on SDRs, said the two institutions will continue to work together to find ways for SDRs to be deployed as hybrid capital.

“I’m on record supporting the Bank’s effort and if this succeeds, there will be a significant expansion of financial capacity for countries even beyond our years in office,” she said.

The African Development Bank Group’s SDR proposal is supported by African leaders as well as UN Secretary General António Guterres.

The IMF chief also commended the Bank’s initiative, in conjunction with the African Union, to establish an African Financial Safety Mechanism to cushion the continent against exogenous shocks such as the impact of Covid-19.

According to Adesina, “Africa is the only region in the world that does not have a safety net against shocks. Europe has it. Asia has it. America has it. The Middle East has it.”

The African Union endorsed the African Development Bank Group’s proposal for the mechanism during its summit in February 2022.

yungchap:
Very safe??

yes, very safe, fast and reliable.I have been using it for two years now without any hitches.

FAIRMONEY move with the speed of light
Just do your KYC and face verification then you are good to go

BigDickProblems:
God is just wonderful.

If it's written in a fairytale about a substance that has no smell, taste nor colour, but one of the most important substance for the survival of man, I wouldn't in my lifetime believe it.

But here we are, Water, is one of those things that should remind us that there is an Almighty God.

Yes,there is

pendragonbladgo:
These people don't understand anything. Even America face Terrorist. They are comparing cult boys and Terrorist?

it's a communal fight

oladipupo38880:
They should use the new super tucano jets to wipe everything out of the areaThey should use the new super tucano jets to wipe everything out of the area...

You don't use a sledge hammer to kill a fly.

They should conduct a serious investigation on this matter to know the truth and not just destroying the said village,this action is barbaric

pendragonbladgo:
You must be a female,that how female relate.

Who I boasting about region, I thought we are commenting to potent of Nigerian military and their effect in combating crises - so i mention the size of the North for you to see why it is not easy to combat such a large sizes of states. I was not talking about region in production aspect.

And what do you think about the North to say they DEPEND on south to survive... Wow!!!?

Before oil was discouvered In the south 1958, who was feeding the entire Nigeria and other Naighboring countries, what was Nigeria trading on? The North have been doing business about 1century before the entire South South came to map.
You really think the North is poor? Or you think because the Government abandoned the resources in the North to focus on oil makes the North a poor place?
The family of Dangote, Dantata didn't make their money from Oil at first place.
If I have time, I will share you the resources endowed in the North.

Oga, Northern Nigeria are not poor ohhh, they are the first to export in Nigeria (the Kano pyramids)... Read history
Anyways, goodevening

Why did they almagate the north and southern protectorate to form Nigeria, because the colonial masters were using the reasources of the south to run the north

Right from time the north has nothing to sustain itself, hence the colonial masters did this forced marriage.

The British government is still apologetic to the north up to this day

The north cannot survive without the south hence they are against resource control

There are two kinds of water: salt water and fresh water. Salt water contains—you guessed it—large quantities of salt, while fresh water has a dissolved salt concentration of less than 1%. Only fresh water can be used as drinking water.
Americans use five times the amount of water that Europeans use
.
A small drip from a faucet can waste as much as 75 litres of water a day.

Frozen water is 9% lighter than water, which explains why ice floats.

Water is the only substance on earth that is found naturally in three forms: liquid, solid and gas.

A trillion tons of water is evaporated every day by the sun!

If you ever catch a fever, be sure to drink lots of water—it regulates your body temperature.

In Canada, there is more water underground than on the surface.

Most of the water found on the earth's surface is permanently frozen or salty.

Less than 1% of the water supply on earth can be used as drinking water.

More than 90% of the world's supply of fresh water is located in Antarctica.

The earth is a closed system that rarely loses or gains extra matter. Essentially, this means that the same water that existed on earth millions of years ago is still present today.

Pure water has no smell and no taste. It also has a pH level of around 7.

Canada is home to 25% of the world's wetlands. In fact, it's the largest wetland area in the world.

Our bodies are 60-70% water; our brains are 75% water; our lungs are nearly 90% water; and our blood is about 82% water.

limeta:
Something the military cannot do in the north

Is that a justification

You can argue that tires are a car’s four most important safety and performance features, but all the basic components are equally critical. If any one of them fails, the vehicle becomes unusable.

However, the engine is the heart of your car and the performance of any moving thing depends heavily on its heart. Speed and power are impressive, but Americans are increasingly driving their cars longer and want cars with engines that won’t let them down and won’t need inconvenient and expensive repairs.

Some brands are known not only for the dependability of their cars, but of their engines as well. Here are five car brands that have the most reliable engines.


5. Ford
It’s become second nature to say the most reliable cars on the market come from Japan and to a lesser extent, South Korea. That might be true, but U.S. brands know how to build advanced, efficient, high-performing engines that last ages.

Ford has a long history with engines. In fact, Henry Ford’s first invention was the engine, which he eventually used to power his first car. Throughout its history, Ford engines have been synonymous with performance, reliability, and longevity, frequently taking their vehicles past owners’ mileage forecasts. Ford’s tenacious 5.0 Coyote V8 and 3.5 V6 EcoBoost engines are making way for new engine technology for internal combustion vehicles, hybrids and electric production.


4. Chevrolet
Owning many distinct car companies over the years — including Buick, Cadillac and Lotus now and Oldsmobile, Pontiac and Saturn in the past — General Motors has built countless engines. However, Chevrolet stands out among GM’s subsidiaries for its reliable and powerful engines that hold up even after a few odometer rollovers.

While Chevy’s diesel motors are tough to beat, its V8s are iconic. The LS engine has gone through three generation changes since 1997 and has proven to be easy to maintain and trouble-free throughout its lifespan. The 5.7-liter LT1 engine powered Corvettes and Camaros with plenty of horsepower during the 1990s and the new Gen V engines are moving Chevrolet up J.D. Power’s dependability rankings every year.



3. Lexus
According to J.D. Power’s 2023 Vehicle Dependability Study, Lexus topped the list of rankings and the RX model was named the most dependable vehicle on the market (tied with Toyota’s C-HR). For 2024, the luxury brand led its segment and the overall industry for the second year in a row.

Dependability has quickly become Lexus’ hallmark, which can’t be said about most other luxury brands on the market. According to RepairPal, Lexus owners usually spend around $551 per year on maintenance and upkeep. Equipped with engines like the 1UR-FE, 2JZ and 2GR variants, Lexus (and some Toyota) models are some of the most reliable cars you can buy.


2. Honda
For decades now, Honda has built a reputation for engines that can rack up miles without anything more than regular maintenance and care. Offhand, the typical lifespan of a Honda car is about 200,000 miles. However, many Honda models are known to outlast their owners’ wildest expectations.

Whether a Honda carries a K-Series engine (Honda Civic SI, Element, CR-V), a J35 (Honda Pilot, Acura MDX, Honda Accord, Honda Odyssey) or an H22A (turn of the century Preludes and Accord SiR Sedans and Wagons), you’re assured of top-of-the-line reliability and endurance.


1. Toyota
You don’t become the world’s best-selling and most reliable brand without making great engines that perform consistently well. Over the years, Toyota has introduced resilient engines that have regularly given owners hundreds of thousands of miles of driving enjoyment.

CarBuzz singles out a few sturdy Toyota engines that have stood the test of time, including the 3.5-liter V6 2GR engine, which has driven many of the brand’s most popular models (Tacoma, Camry, Highlander and Avalon; Lexus ES, GS, IS and RX).

Special mention should go to the powerful 1JZ and 2JZ engines and to the UZ family of engines, which have powered many of Toyota’s luxury sedans, minibusses, pickup trucks (e.g., the Tundra) and off-road SUVs (e.g., Land Cruiser, Sequoia, and Lexus LX/GX).

Solofresh2:
I have always been a member of the vanity upon vanity crew
I am not from a rich family and we are not poor either.We are average but as soon as I started spending and eating money,my life and that of my family has changed for good. Omo sometimes I feel like am in heaven
Omo life is not vanity oo.It is only vanity to the dead.Money have saved me from a lot of moments that can be embarrassing.
After money na money abeg

After God na money

Nigeria has recorded a 45.02% increase in its Value Added Tax (VAT) collections, amassing a total of N3.64 trillion in 2023, according to data from the National Bureau of Statistics (NBS).

This considerable growth, up from N2.51 trillion collected in 2022, underscores the country’s strengthening economic landscape amidst various reforms and measures aimed at enhancing tax compliance and broadening the tax base.

A breakdown of the 2023 VAT revenue reveals a comprehensive contribution from different segments, including local non-import VAT, which accounted for N2.10 trillion, non-import (foreign) VAT at N824.60 billion, and NCS (Nigeria Customs Service)-import VAT tallying up to N714.51 billion. This diversified revenue source underscores Nigeria’s multifaceted economic activities and the government’s efforts to harness these sectors for national development.

Top Three Highest Paying Sectors
The manufacturing sector emerged as the highest VAT contributor with a staggering N578.4 billion, marking a 21% increase from its previous year’s contribution of N477.43 billion. Despite this achievement, the sector faces challenges such as widespread smuggling, which not only undermines legitimate businesses but also significantly dents the government’s revenue collection.
Following closely, the Information and Communication sector boasted a VAT contribution of N412.3 billion, witnessing a 53% surge from the N268.84 billion recorded in 2022. The sector’s growth, however, is somewhat throttled by limited broadband penetration, especially in rural areas, affecting the full realisation of its potential and broader access to ICT.
The Mining and Quarrying sector also saw remarkable growth, with its VAT contribution jumping 64% to N260.0 billion from N158.49 billion in the previous year. The sector’s sustainability and growth are contingent upon addressing the pervasive issue of illegal mining, which results in significant revenue loss and environmental degradation.
Top Three Lowest Paying Sectors
On the flip side, the sectors with the least VAT contributions include activities of households as employers and undifferentiated goods- and services-producing activities of households for own use, which slightly grew by 11% to N367.93 million in 2023 from N332.70 million in 2022.
The water supply, sewerage, waste management, and remediation activities sector experienced a decline, posting a -31% annual growth with a VAT collection of N1.11 billion in 2023, down from N1.60 billion in 2022.
Meanwhile, activities of extraterritorial organisations and bodies saw a significant 44% growth, with VAT collections rising to N1.27 billion in 2023 from N882.97 million in the previous year, reflecting the sector’s gradual but positive trajectory in its financial contributions.

Youth overzealousness,

Nigeria Successfully Pays Back China, India, IMF, Others $560m Debt in 2024, More to be Paid Wednesday, March 13, 2024 at 11:50 AM by Zainab Iwayemi Data by the CBN has shown that in January 2024, Nigeria paid $560 million to repay debt owed to various countries and organisations Analysis showed the amount is greater by 339% compared to the amount spent for the same purpose last year. This came amid a report that estimated that Nigeria's total public debt stood at N87.91 trillion as of September 2023 PAY ATTENTION: Follow our WhatsApp channel to never miss out on the news that matters to you! Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy,

In January 2024, the federal government paid $560 million to service the nation's external debt. FG paid $560 million to service the nation's external debt In January 2024. Photo Credit: FG Source: UGC Compared to the $112 million paid on debt service in January of 2023, the amount spent in January was 339% greater, according to a ThisDay analysis of the Central Bank of Nigeria's (CBN) Weekly International Payments.

Breakdown of debt payment last year Nigeria paid $3.5 billion in 2023 as repayment for its external debt, a substantial rise above the $2.4 billion spent in 2021.

The monthly analysis of Nigeria's debt service in 2023 shows dynamic patterns that provide insight into the nation's economic climate. Debt servicing totalled $112 million at the start of the year, while there was a significant increase in February, hitting $288 million. The debt servicing escalates to $400 million as the pace continues throughout March. Debt servicing records a decrease in April of $93 million but increases in May to $221 million.

The month of July stands out as a peak month, exceeding $641 million, while June exhibits a notable adjustment at $54 million. In August, the amount falls precipitously to $310 million but rises to $439 million in September.

After reaching $65 million at year-end adjustments, there is a noticeable decline towards the end of 2023, and in January 2024, there is another big peak of $560 million. In a recent report, Legit.ng reported that data from the Debt Management Office (DMO) shows that Nigeria's total public debt stands at N87.91 trillion as of September 2023. The increased debt profile comes four months after President Tinubu and 18 new governors came into office in May 2023.

Naij.com Media Limited, 2024 All rights reserved Read more: https://www.legit.ng/business-economy/industry/1583287-nigeria-successfully-pays-china-india-imf-560m-debt-2024-paid/

TikTok is now facing a ban in the United States, a fate that has already befallen a string of American social media giants that tried to make it in China.

On Wednesday, the US House of Representatives passed a bill which could ban TikTok in the country if its Chinese owner ByteDance doesn’t sell the app to an entity that satisfies the US government.

“The bill passed by the US House of Representatives puts the US on the opposite side of the principle of fair competition and international economic and trade rules,” Chinese Foreign Ministry spokesperson Wang Wenbin said at a briefing Thursday.


But American apps have long been barred in China. Beijing currently blocks most US social media platforms — including Google, YouTube, X, Instagram, WhatsApp and Facebook — because they refuse to follow the Chinese government’s rules on data collection and the type of content shared.

In 2010, Google pulled out from mainland China after operating there for four years. It said at the time that it was no longer willing to continue censoring results on Google.cn, citing Chinese-originated hacks on it and other US companies.

More than 10 years after that high-profile retreat, the shoe is on the other foot, even if the circumstances aren’t exactly the same.

“The TikTok bill appears likely to become law and China’s displeasure seems ironic, if not hypocritical, given its stance toward American social apps,” said Brock Silvers, managing director at Kaiyuan Capital.

Asked about China’s stance on US apps, Wang said “this is completely different” and “you can clearly see what is bullying and what is gangster logic.”

The focus is now on the US Senate, where many lawmakers said they are still evaluating the legislation. President Joe Biden has said he will sign the bill if it reaches his desk.

US officials and legislators have long expressed concerns about TikTok’s potential national security risks, including that it could share data with the Chinese government, or manipulate content displayed on the platform. But TikTok has rejected the claims.

On Thursday, following the House vote, the Chinese Commerce Ministry pledged that the country would take “all necessary measures” to safeguard its interests regarding TikTok.

The Chinese government has said it strongly opposes a forced sale of TikTok, and it has the legal ability to do so. It views TikTok’s technology as highly valuable and has taken steps since 2020 to ensure it can veto any sale by ByteDance.

In August 2020, following an attempt by the Trump administration to force the sale of TikTok, Beijing revised its export control rules to cover a variety of technologies it deemed sensitive, including technology that appears similar to TikTok’s personalized information recommendation services.

Years later, in March 2023, a Commerce Ministry spokeswoman said in the government’s first direct response to the matter that China would oppose any forced sale of TikTok, because a sale or divestiture of the app would involve exporting technology and had to be approved by the Chinese government. Beijing has not indicated any change to this position since then.

TikTok’s algorithms, which keep users glued to the app, are believed to be key to its success. The algorithms give recommendations based on users’ behavior, thus pushing videos they actually like and want to watch.

“TikTok’s crown jewel, its AI algorithms, will put the company into a legal tug of war,” said Winston Ma, adjunct professor at New York University School of Law, adding that ByteDance is subject to Chinese laws that require it to seek Beijing’s approval before selling advanced technologies.

Silvers said it was possible that TikTok could seek a “middle ground” to try to meet US requirements for ownership, but it’s unclear whether American concerns can be mollified by cosmetic change.

He said the episode is likely to worsen relations between Beijing and Washington, which are already mired in an escalating battle over access to advanced technology such as computer chips and AI.

“Markets should expect [China to have] retaliatory actions against US firms as tech and trade issues continue on a negative trajectory,” he said.

If TikTok is eventually banned, more Chinese-owned apps in the US may be next in line, according to Alex Capri, a research fellow at the Hinrich Foundation and a lecturer at the National University of Singapore Business School.

“This latest episode with TikTok underscores the need for a much more robust regulatory framework in the US to address existential issues wrought by big-tech, in general,” he said.

Applications from Chinese developers popular in the US App Store or Google Play include budget retailers Temu and Shein, as well as short-form video editing app Capcut, which is also owned by ByteDance.

“This legislation marks a pivotal moment in the ongoing battle for control over emerging public opinion spaces, deepening the geopolitical contest between China and the US,” said Craig Singleton, senior China fellow at the non-partisan Foundation for Defense of Democracies in Washington, DC.

On Chinese social media site Weibo, hashtags related to TikTok being potentially banned in the US were trending on Thursday, generating 78 million views and thousands of discussion posts.

“Why can’t we just talk about business instead of elevating everything to the national [security] level?” said Weibo user “Mastering technology” in a post that was ranked “hot” by the platform. “Direct interference in business operations is inconsistent with the values of free market economy that the US has always advocated.”

Some online commentators urged Beijing to retaliate by taking action against US companies operating in China. But that was questioned by other users.

“We’ve already been unable to use Google, Twitter, and Facebook for more than a decade,” said one user. “I think we are way ahead of the US in blocking foreign news media [services].”


“While China has completely banned [these] American apps, TikTok enjoys all the benefits of America’s free and open legal and political systems,” he said.

Telecommunications companies and banks in Nigeria have been hit by an internet outage as a result of damage to international undersea cables supplying them with connectivity.

Nairametrics gathered that the damage affected major undersea cables near Abidjan in Côte d’Ivoire and is causing downtime across West and South African countries.

The West Africa Cable System (WACS), the Africa Coast to Europe (ACE), MainOne, and SAT3 cables are affected.

Some bank networks in Nigeria have been down and unable to process transactions as a result of the internet outage. Telecom subscribers, especially, those of MTN have also been complaining of poor data experience since Thursday morning.

“We apologize for the challenges you may be experiencing with internet speed and accessing data services at the moment.
“This is a result of damage to international undersea cables across East & West Africa. The repair process is ongoing to resolve the situation as soon as possible. Please look out for further updates.”
In the banking space, Sterling Bank is one of the banks hit by cable damage as the bank’s network was shut down and could not process any transactions.

A visit to one of the bank’s branches in the Ogba area of Lagos State confirmed this as all customers attempting to enter the bank’s hall were being turned back.


When asked the reason, one of the staff of the bank said:

“Our network is down and it is bank-wide, you don’t need to go to another branch. Our app is also down for now, please try it again later in the day for your transaction.”
Networks in South Africa are down as well
According to reports from local media, the cable damage has also caused a massive internet problem in South Africa