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BusinessJumia Food To Shutdown In Nigeria From December 2023 by nlfpmod(mod): 9:20am On Dec 14, 2023
In a decisive move, Jumia is shuttering its food delivery service, Jumia Food, across its operating countries, including Nigeria, Kenya, Morocco, Ivory Coast, Tunisia, Uganda, and Algeria, by the end of December 2023. The company will now focus on its core physical goods business and the Jumia Pay platform across its 11 countries of operations.

“The more we focus on our physical goods business, the more we realize that there is huge potential for Jumia to grow, with a path to profitability. We must take the right decision and fully focus our management, our teams and our capital resources to go after this opportunity. In the current context, it means leaving a business line, which we believe does not offer the same upside potential - food delivery," said Francis Dufay, Chief Executive Officer of Jumia.

Despite constituting 11% of Jumia's Gross Merchandise Value (GMV) in the first nine months of 2023, Jumia Food has struggled to achieve profitability since its inception. This means the total value of food sold on Jumia Food stood at $64 million (11% of $581 million) between January and September 2023. An indicator of the massive scale Jumia Food was operating at, but it doesn't necessarily amount to revenue or profitability.

Since its inception, Jumia Food experienced fluctuating fortunes, with a significant 82% year-over-year growth in 2021, reflecting the company's strong foothold in the food delivery segment. However, in 2023, the company saw a marked decline in Quarterly Active Consumers and Orders. A consequence of its shift to drive profitability by focusing on viable categories and reducing consumer incentives.

As for employees focused on Jumia Food, the company says a number of them will transition to the core physical goods segment, suggesting that some could be laid off.
https://techpoint.africa/2023/12/14/jumia-food-shutdown-nigeria-2023/

BusinessRemoving Import Restrictions Will Lift 1.3M Nigerians Out Of Poverty– World Bank by nlfpmod(mod): 3:36pm On Dec 13, 2023
The World Bank has said that the removal of import restrictions in Nigeria will lift about 1.3 million people out of poverty.

It stated this in the December 2023 edition of its Nigeria Development Update (NDU) report.

This comes as some members of the House of Representatives recommended a ban on the import of items that can be locally produced in the country.

Also, the CBN lifted the foreign exchange proper centohibition on 43 items, including rice, fertilizer, and cement.

The World Bank has commended the move by the apex bank, describing it as pro-poor as it enhances consumer welfare.

The report read:

“Import restrictions disproportionately affect goods that are consumed more by the poorer households. For example, rice—a staple food for about 84 per cent of Nigerian households and consumed in both locally produced and imported varieties—has seen escalating prices, a trend exacerbated by import restrictions.

Recent World Bank estimates show that removing import restrictions could lower the prices of affected items by 4.7 per cent. This would lead to an overall increase in purchasing power which, in turn, would lift about 1.3 million people (around 0.6 percent of the population) out of poverty.”

Kaduna, Ekiti, Enugu, six other biggest beneficiaries

The Bretton Woods institution further said that certain states will benefit more from the positive impacts on poverty reduction triggered by the removal of the import ban.

The biggest beneficiaries are Kaduna, Ekiti, Enugu, FCT, Kwara, Anambra, Adamawa, Cross River, and Kebbi, while the smallest are Rivers, Akwa Ibom, Ondo, Abia, Imo, and Ebonyi.

The World Bank, however, noted that although “the removal of import restrictions may present challenges to certain sectors, these can be mitigated for some of them with a comparative advantage.”

It urged the government to reduce the overall cost of doing business and ensure several complementary reforms to support “Nigeria’s structural agenda and overall gains in competitiveness and economic diversification.”

Tinubu’s reforms are expected to undo the poverty increase from 2024 as 24 million Nigerians became poor in five years
The big global lender also noted further that the reforms by the current administration will likely undo the increase in poverty recorded in the past five years.

The World Bank said that about 24 million Nigerians became poor between 2018 and 2023, with the total number of poor people rising from 79 million to 104 million.

The report read:

“The recent reforms are expected to undo the increases in poverty seen in recent years from 2024 onward, albeit only marginally and slowly.

Sluggish growth and rising inflation have increased poverty from 40 per cent in 2018 to 46 per cent in 2023, pushing an additional 24 million people below the national poverty line.
“The number of poor rose from 79 million in 2018 to 104 million in 2023, with urban poor—more exposed to inflation—increasing from 13 to 20 million, while the number of poor people in rural areas increased from 67 to 84 million.
“In the medium term, the reforms will reverse this trend through higher growth and lower inflation, but to a limited extent, with poverty rates decreasing from 46 per cent in 2024 to 44 per cent in 2026.”
https://nairametrics.com/2023/12/13/removing-import-restrictions-will-lift-about-1-3-million-nigerians-out-of-poverty-world-bank/

PoliticsRe: Breaking...!!! Demolition Of Rivers State House Of Assembly Ongoing by nlfpmod(mod): 9:19am On Dec 13, 2023
PoliticsRe: ANALYSIS: Inside The Unrealistic Projections, Illegalities In Tinubu’s 2024 Budg by nlfpmod(mod): 9:53am On Dec 12, 2023
Christianity EtcChris Oyakhilome Celebrates His 60th Birthday Today by nlfpmod(mod): 9:03am On Dec 07, 2023
Birthday: Chris Oyakhilome Turns 60 Today!

Christian Oyakhilome (born 7 December 1963) known as Pastor Chris is a Christian faith leader, preacher, author, philanthropist, televangelist and president of Loveworld Incorporated. He is most well known as the founding pastor of the Mega Church Christ Embassy and author of the daily devotional Rhapsody of Realities.

Oyakhilome also organizes large crusades, with some garnering attendance of over 3.5 million. His healing school holds periodically every year in Nigeria and South Africa.
https://en.m.wikipedia.org/wiki/Chris_Oyakhilome

Foreign AffairsHostage Fights Off 7 Hamas Terrorists While Being Kidnapped by nlfpmod(mod): 8:34am On Dec 07, 2023
This is a video that was published tonight for the first time in Israel and has been shared with me by Israeli security officials, in which you see a kidnapped woman named Amit Sosna fighting 7 terrorists who are acts like animals. Amit was abducted from Kfar Gaza on October 7 and was forcibly held captive for 55 days in Gaza by Hamas.

You see how she struggles with them - absolutely valiant- extraordinarily heroic and brave - and the Hamas worse than vermin. They systematically gang raped women, girls grandmothers, teens , they routinely amputated Instruments and breasts even handling them after amputating breasts while women still lived.

These are war crimes and crimes against humanity and the world WILL seek retribution and punitive justice against these monsters for all these women and girls, victims and survivors and for their brothers, sons, daughters, fathers, sisters and grandfathers who didn’t come home. May Hamas be condemned to Gods fury and answer for their heinous crimes against humanity. Rape is not resistance. Women’s and girls bodies are not weapons of war. Rape is used as a weapon of war even as Women’s bodies are not battlefields but the sanctuary before birth and beginnings of every member the human race .

Gender based war crimes against Israeli women and girls committed by Hamas in such mass scale demand the world unite in condemnation, prosecution and punishment of the perpetrators. Islam REVERES the status of mothers, daughters, the sanctity of the body and specifically mentions the status of mothers to be highest of all including even fathers and posits heaven exists figuratively beneath one’s mother’s feet- so precious is womanhood.

Hamas defiles and murders women and girls and in daring to claim motive and the words of my great religion of Islam as they commit these crimes debases and impugns all Muslims globally. We condemn you Hamas.

You do not represent Islam. You do not represent innocent Palestinians. But you do represent Islamist extremism, jihadism and lethal antisemitism. We will not allow this ever again.
https://www.instagram.com/reel/C0c_kbngetD/?igshid=NTc4MTIwNjQ2YQ==

PoliticsFull Details Of The 2024 Budget by nlfpmod(mod): 10:05pm On Dec 05, 2023
Happy to confirm the full and complete Federal Budget, including the line-by-line budget has been posted on the FGN budget Office.

For example, this is the State House Budget

link to budgets https://www.budgetoffice.gov.ng/index.php/resources/internal-resources/budget-documents/2024-budget
Kalu Aja

https://budgetoffice.gov.ng/index.php/resources/internal-resources/budget-documents/2024-budget

PoliticsShettima’s Aide, Stanley Nkwocha To Obi: ₦15bn For VP’s Residence Not Wasteful by nlfpmod(mod): 8:47pm On Dec 05, 2023
Stanley Nkwocha, spokesperson of Vice-President Kashim Shettima, said the N15 billion budget for the construction of a new residence for the VP is not a waste of money CV.

Obi had faulted the proposed N15 billion for the construction of a new residence for Shettima, saying that given the current economic crisis, the money could have been put to good use.

Reacting in a statement on Tuesday, Nkwocha said the proposed plan for the construction of the new residence was awarded by the administration of ex-President Goodluck Jonathan.

He noted that his principal has committed himself to serving Nigeria and helping President Bola Tinubu in achieving his set goals and objectives.

He accused Obi of trying to paint the current administration in bad light.

We have taken note of statements credited to the Presidential candidate of the Labour Party in the 2023 presidential election, Mr. Peter Obi, who made another frail and futile attempt to paint the President Bola Tinubu administration in bad light,” the statement said.

The subject of his new found passion – armchair criticism after his loss at the presidential poll was the proposed N15.5billion budgeted by the FCTA to renovate the house of the Vice-President, which he claimed would pay the annual salary of 3,000 University Professors.

“Giving the reactions and invocations generated by Obi’s comments, it is necessary for the sake of history to clarify the issue.

The proposed plan for the construction of the Vice President’s official residence, for which budgetary allocation was made in the 2024 budget by the FCT Administration, was awarded by the administration of former President Goodluck Jonathan.

“It was not originated by the present administration.

“This, Mr Obi, knows but chose to play dumb all in a bid to inflamate a targeted group of Nigerians and, as usual, score cheap political goals, accolades and praises.”

Nkwocha said the project which was re-initiated in 2010 and funded by the Jonathan administration was abandoned.

Appalled by the sorry state of the uncompleted building that was now overtaken by weeds and reptiles over a decade after construction started about 13 years ago,” he said.

The current FCT Minister, Nyesom Wike, felt it would be a waste to allow such a project started with public funds to continue to lie fallow.

Thus, in his wisdom and without the prompting of the vice-president, decided to resuscitate the building. We invite more cerebral Nigerians to crosscheck properly.

“What should be considered a waste between Obi’s tantrums because the project has attracted government’s attention, given the decision by the current administration to complete vital abandoned projects.

What is more wasteful and reckless than abandoning an edifice to rot and depreciate despite the amount that has been sunk into it over the years?

“It did not start today, same for residences of the Senate President and the Speaker. The array of abandoned Federal Government projects littered all over the country is a national embarrassment that the current administration has taken a bold step to save the country from.

“This is why it has made it a priority that all abandoned projects must be completed before new ones are initiated, save for some on exceptional basis, either because of the need for strategic alignment or economic significance.”
https://www.thecable.ng/shettimas-aide-n15bn-for-vps-residence-not-wasteful-obi-trying-to-score-cheap-points/amp

BusinessBitmama Acquires Payday by nlfpmod(mod): 8:24am On Dec 05, 2023
In a significant development in Nigeria's fintech landscape, blockchain payments platform, Bitmama Inc. has confirmed the acquisition of Payday, a virtual card service provider.

The news comes barely nine months after Payday announced its $3 million seed round and three months after its exploration of sale options was confirmed. Facilitated through Bitmama's cross-border payments product Changera, the acquisition marks a pivotal shift from earlier speculations, including a potential acquisition by lead investor, Moniepoint. Changera is set to consolidate its blockchain payment platform by acquiring 100% of Payday's customer base.

A source close to the matter, who declined confirming the financial terms of the deal, revealed to Techpoint Africa that acquisition conversations were initiated just a few weeks ago, and the process is "about 85% complete."

Changera, launched in 2021, is set to absorb a number of Payday's key personnel across various departments, including marketing, customer service, and engineering. This integration is already underway, with some Payday employees already transitioning to Changera. As a founder with a strong technical background, Payday CEO Favour Ori's integration into Bitmama's team is not yet confirmed. However, given Bitmama's already established leadership and robust technical team, it appears more likely that he may step away.

For the over 300,000 customers previously reported by Payday, who will now be under Changera's care, there will be hopefully no noticeable changes.

According to a senior member of Bitama's management, Payday's brand will continue to operate but it will now fall under the broader umbrella of Changera, supported by its stablecoin infrastructure. This integration is expected to overcome the liabilities and challenges Payday faced due to its dependence on third-party integrations, thereby potentially improving both customer experience and service reliability. The self-proclaimed neobank of the gig economy had previously grappled with operational challenges, including industry-wide charge-back fraud issues, a notable disruption in Mastercard services, and the exit of senior team members in July 2023.

For Changera customers, the acquisition promises to expand the range of available services, providing access to Payday's digital payment solutions.

In the short term, there are no planned changes to the fee structures or terms of service for Payday customers. However, as the integration progresses, customers can anticipate an expanded suite of services and potentially new features that leverage the combined strengths of Bitmama and Payday.

Post-acquisition, Bitmama is poised to embark on an ambitious roadmap. Central to this roadmap is the development of a new solution aimed at enhancing FX transactions for African businesses. Slated for launch in Q1 2024, this solution is expected to address a critical need in the market, facilitating smoother and more efficient B2B cross-border financial interactions.

The acquisition of Payday by Bitmama mirrors a broader trend of strategic consolidations within the fintech industry. It comes in the wake of similar acquisitions, such as that of Chaka by Risevest in September 2023. This consolidation trend suggests an emerging pattern where fintech companies are increasingly seeking strategic partnerships and acquisitions to overcome market challenges and scale operations.
https://techpoint.africa/2023/12/05/bitmama-changera-acquires-payday/

BusinessEl-Rufai Launches $100 Million Afri-Venture Capital Company by nlfpmod(mod): 1:41pm On Dec 04, 2023
MONDAY ANNOUNCEMENT: I can confirm that our VC-PE firm, Afri-Venture Capital Company Ltd will by the Grace of God, begin operations initially in Abuja in January 2024 with Jimi Lawal, Hafiz Bayero, Eyo Ekpo and Kabir Yabo as founding directors and initial shareholders. I am privileged to be the part-time Chairman of the Board.

Please pray for our success and the Nigerian (and in the near future African) innovators and entrepreneurs we hope to finance, nurture, and mentor to be the Dangote Group of the future.
El-Rufai plans $100m venture capital in private sector return


Nasir El-Rufai may no longer be the Kaduna State governor and has missed a controversial ministerial appointment, but he certainly has not lost his zest for taking on big projects. The former governor is going into the private sector with a loud statement.

El-Rufai plans to launch a $100 million venture capital fund for startups in Nigeria, particularly those in the Kaduna tech ecosystem. He plans to match his ambitions with actions. He is willing to stake $2 million of his money for the offtake of the fund. He plans to convince investors to provide the remaining funding. The investors will mostly be those “who believe in us but don’t have the capacity or the time to do the analysis and evaluation. But they trust our judgment and they will come with us.”

He was in Marrakech in November for the Africa Investment Forum where he spoke to BusinessDay.

The former governor who played a significant role in the emergence of the current Nigerian president as the party’s candidate, seems to have put his disappointments behind him.

In Marrakech, there was no trace of the man who became the target of much social media trolling. The El-Rufai that showed up in Marrakech was looking spritely and took part in all the sessions of the Africa Investment Forum, a multi-stakeholder, multi-disciplinary platform with the vision to channel capital towards critical sectors to achieve the Sustainable Development Goals, the African Development Bank’s High 5s, and the African Union’s Agenda 2063.


According to him, he wants to set up a venture capital fund or private equity that will invest in young Nigerians with innovative ideas. It doesn’t matter what segment of the economy the ideas are. It could be in agriculture. ICT or the creative industry, so long as it has the potential to add value to the world, these are the ideas that El-Rufai and his fund will target.

During his tenure as governor of Kaduna, El-Rufai said he met many students in Kaduna who had great ideas and were creating innovations. However, many of them did not have someone to mentor them and help those ideas grow.

“What young people need is essentially mentoring and financing to get things going. They develop the idea and see whether it is viable. And we will open doors for them because they don’t have contact. They don’t know or have access to ministers, presidents, or regulatory agencies. We do. We know the minefields that they have to navigate. We know that they need to give them appointments and we can provide them with the startup funding and in return we take an equity position.

We don’t want to take your business; we want to develop it. But if we take the risk on you, we will take a percentage of the business,” El-Rufai said.
He is working with select private sector partners, including Eyo Ekpo, co-founder of Excredite Consulting Limited, and their primary focus is on Nigeria but the ambition is Africa because he projects from a report that Africa will be supplying the world with a significant portion of the workforce it needs by 2050.

According to a report by the Guardian, by 2050, Africa’s population is expected to reach 2.5 billion, which is about 25 percent of the world’s population.

El-Rufai says such projections call for more investments in the younger demographic. However, his fund will not just be focusing on new startups, there is also a plan to engage established companies with management problems that are still viable. The VC fund will invest in such companies, get them sorted out and take them to exit.

“We don’t intend to remain in any business. We want to catalyse growth in these startups,” he said.

One of the goals of being at the African Investment Conference was to seek continental partnerships, and investors and to explore opportunities with climate-focused investors.

“Nigeria has a lot to offer Africa and the world. Our population, entrepreneurial capability, the innovation of our young people and their boldness and courage to find success. We just felt that we have a duty to encourage,” he said.

The first fund will be investing for three to four years. The fund is expected to launch early next year and the company will be headquartered in Abuja. This is to diversify the funding beyond Lagos because there is already a lot of interest in funding innovation in Lagos. El-Rufai and his partners want to spur startup funding interest in ecosystems in Kaduna, Abuja and other parts of the country.
https://businessday.ng/technology/article/el-rufai-plans-100m-venture-capital-in-private-sector-return/

TravelDiesel Tanker Catches Fire In Ojota (Photos) by nlfpmod(mod):
A truck loaded with diesel has been gutted by fire in the Ojota area of Lagos.

The Lagos fire rescue service swiftly extinguished the flame.

Sharing a video on the social media handle of the Lagos Fire Rescue Service on Monday, December 4, the caption reads: 'Situation in Ojota is under control as the peddler truck conveying Diesel inward Ketu that went on flame has been extinguished."
Source: LagosRescue

PoliticsNPA Restores Intels’ Service Boat Operation Contract by nlfpmod(mod): 2:16pm On Dec 03, 2023
NIGERIAN PORTS AUTHORITY
LAGOS PORT COMPLEX, APAPA

30th November, 2023
To: All Shipping Companies Through: Berthing Meeting Committee

Dear Sir,

REINSTATEMENT OF INTELS NIGERIA LIMITED AS THE AUTHORITY'S SERVICE BOAT OPERATIONS MONITORING PROVIDER IN THE PILOTAGE DISTRICTS

This is to kindly inform you that sequel to the Presidential Directives dated 18" August 2023 and the consent Judgment of the Federal High Court, Lagos dated 21st of September 2023, the Authority has extended the Service Boat Operation Contract between it and Intels Nigeria Limited.

Further to the above and to support the Authority's and Federal Government's drive to increase revenue generation from the Service Boat Operations, Messrs. Intels Nigeria Limited has been directed to resume services immediately. This is in line with the terms of the extended contract contained in the Managing Agency Agreement conveying the scope of Services, in addition to the obligations of the Agent.

Consequent upon the above, you are hereby directed to ensure that Intels Nigeria Limited is allowed unrestricted access to information on Pilotage Movements and to be provided with the necessary assistance to successfully commence operations as the Authority's Managing Agent on Service Boat operations in Lagos Pilotage District (LPD).

While thanking you for your usual cooperation, please accept as always the assurances of our esteemed regards.

Charles Okaga
Port Manager, Lagos Port Complex.
Kalu Aja

PoliticsLauretta Onochie Celebrates Buhari's 34th Wedding Anniversary by nlfpmod(mod): 5:22pm On Dec 02, 2023
Today, December 2, Is The 34th Wedding Anniversary Of Our Beloved Couple, Our Former President Muhammadu Buhari And Beautiful Former First Lady, Dr. Mrs. Aisha Muhammadu Buhari.

Our Prayers And Thoughts Are With Them Today And Always.

Happy Anniversary To The Most Beautiful Couple I Know.

God bless Nigeria.
Lauretta Onochie

SportsRe: Cristiano Ronaldo Gets Swollen Lip but no Penalty as Al Nassr collapse by nlfpmod(mod): 8:20am On Dec 02, 2023
AImiron:
lol boss, i would have attached the video of the chant if possible boss. It's a blockbuster headline boss, abi you no feel am ni...
No! Your headline Must Be from the content of your post naaa. I read that twice without seeing where the headline came from.
BusinessRe: Top Energy Company, Equinor, Exits Nigeria After 30 Years. by nlfpmod(mod): 8:11am On Dec 02, 2023
SportsRe: Cristiano Ronaldo Gets Swollen Lip but no Penalty as Al Nassr collapse by nlfpmod(mod): 9:50pm On Dec 01, 2023
AImiron, Where did you get your title from?
CultureAll Women Are Good Witches - Ooni Of Ife by nlfpmod(mod): 7:28pm On Nov 30, 2023

https://www.youtube.com/watch?v=IqxAdV_AgA4?si=mLB0iI39UnvF59cs

The Ooni of Ife, Oba Adeyeye Ogunwusi, has hosted the cast of the popular reality show, Real Housewives of Lagos.

In a video clip that was shared on Instagram on Thursday, some cast members of the reality series visited the monarch in his palace, where he spoke to them about witchcraft.

Iyabo Ojo, Chioma Ikokwu and Tania Omotayo were among those seen in the video at the king's palace.

Ooni's queen, Aderonke Ademiluyi-Ogunwusi, welcomed the guests and guided them on how to address the king as he entered the palace.

During the interaction with the Real Housewives of Lagos cast, the Ooni of Ife claimed that all women possess witchcraft spirits and are manipulative nature.

He said, Every woman has that witchcraft spirit in them but you know people just probably think it is a negative thing, but witchcraft is all about manipulation.

“If you know how to manipulate very well. And that’s the power of a woman. You have natural manipulative spirit and you should manipulate in a very positive way."


In response to this revelation, Ojo sought clarification, asking if the king meant that all women were witches.

The king affirmed this but promptly added that they are "good witches."
https://punchng.com/video-ooni-hosts-real-housewives-of-lagos-stars-speaks-on-witchcraft/?amp

PoliticsRe: President Tinubu And King Charles III (Pictures) by nlfpmod(mod): 6:42pm On Nov 30, 2023
PoliticsTinubu’s 2024 Budget Speech (Full Text) by nlfpmod(mod): 3:14pm On Nov 29, 2023
President Bola Tinubu, on Wednesday, presented the N27.5 trillion 2024 budget proposal to a joint session of the 10th National Assembly in Abuja — his first since assuming office exactly six months ago.⁣

Read the full speech below:

1. In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly.

2. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion to economic development and to the greater welfare of our people. It also highlights your desire to work in close collaboration with the Executive branch. We do not serve ourselves. We must always strive to work together to serve and benefit the people of our beloved country.

3. I am confident that the National Assembly will continue to work closely with us to ensure that deliberations on the 2024 Budget are thorough but also concluded with reasonable dispatch. Our goal is for the Appropriation Act to come into effect on the 1st of January 2024.

4. It is, by now, a matter of recorded history that my very first fiscal intervention as President of this great nation was to end the fuel subsidy regime which had proven to be so harmful to the overall health of our national economy. The second was to negotiate and subsequently present a supplementary budget to enable my government to fund the items needed to restore macro-economic stability and mitigate the harsh impact of subsidy removal.

5. The third was to secure a second supplementary budget, this time to enable us to keep our promises to promote national security, invest in infrastructure and provide much-needed support to the most vulnerable households in our society.

6. In swearing in my cabinet and reflecting on the unique challenges facing us, I invited the Ministers to imagine that we are attempting to draw water from a dry well. Today, I stand before you to present our Budget of Renewed Hope; a budget which will go further than ever before in cementing macro-economic stability, reducing the deficit, increasing capital spending and allocation to reflect the eight priority areas of this Administration. The budget we now present constitutes the foundation upon which we shall erect the future of this great nation.

PREVAILING ECONOMIC ENVIRONMENT

7. Economic conditions remain challenging both abroad and at home. Despite lingering post-COVID supply and production bottlenecks, armed conflict in various parts of the world and restrictive monetary policies in major economies, we expect global growth to hover around 3.0 percent in 2024. This relatively low rate has significant implications for our economy due to our current reliance on importation.

8. Distinguished Senators, Honourable Members: despite the global headwinds, the Nigerian economy has proven resilient, maintaining modest but positive growth over the past twelve months.

9. Inflation has trended upward due to weak global conditions. To contain the rising domestic prices, we will ensure effective coordination of fiscal and monetary policy measures, and collaborate with sub-national governments to address structural factors driving inflation in Nigeria.

10. The Budget proposal meets our goal of completing critical infrastructure projects which will help address structural problems in the economy by lowering the costs of doing business for companies and the cost of living for the average person, The Honourable Minister of Budget and Economic Planning will provide full details of this proposal.

PERFORMANCE OF THE 2023 BUDGET

11. Distinguished Senators and Honourable Members, an aggregate revenue of 11.045 trillion naira was projected to fund the 2023 Budget of 24.82 trillion naira with a deficit of about 6.1 percent of GDP.

12. As of September 30, the Federal Government’s actual aggregate revenue inflow was 8.65 trillion naira, approximately 96 percent of the targeted 8.28 trillion naira.

13. Despite the challenges, we continue to meet our obligations.

THEME AND PRIORITIES OF THE 2024 BUDGET

14. Distinguished Senators, Honourable Members, permit me to highlight key issues relating to the budget proposals for the next fiscal year. The 2024 Appropriation has been themed the Budget of Renewed Hope. The proposed Budget seeks to achieve job-rich economic growth, macro-economic stability, a better investment environment, enhanced human capital development, as well as poverty reduction and greater access to social security.

15. Defence and internal security are accorded top priority. The internal security architecture will be overhauled to enhance law enforcement capabilities and safeguard lives, property and investments across the country.

16. Human capital is the most critical resource for national development. Accordingly, the budget prioritizes human development with particular attention to children, the foundation of our nation.

17. To improve the effectiveness of our budget performance, the government will focus on ensuring value for money, greater transparency and accountability. In this regard, we will work more closely with development partners and the private sector.

18. To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024.

19. A stable macro-economic environment is important to catalyse private investment and accelerate economic growth. We have and shall continue to implement business and investment-friendly measures for sustainable growth.

20. We expect the economy to grow by a minimum of 3.76 percent, above the forecasted world average. Inflation is expected to moderate to 21.4 percent in 2024.

21. In preparing the 2024 Budget, our primary objective has been to sustain our robust foundation for sustainable economic development. A critical focus of this budget and the medium-term expenditure framework is Nigeria’s commitment to a greener future.

22. Emphasizing public-private partnerships, we have strategically made provisions to leverage private capital for big-ticket infrastructure projects in energy, transportation and other sectors. This marks a critical step towards diversifying our energy mix, enhancing efficiency, and fostering the development of renewable energy sources. By allocating resources to support innovative and environmentally conscious initiatives, we aim to.
https://www.google.com/amp/s/punchng.com/full-text-tinubus-2024-budget-speech/%3famp



https://www.youtube.com/watch?v=ClFK3cVMbT0?si=tRv4br3isPciyZBI

PoliticsRe: Full Speech: Obaseki’s Deputy, Shaibu Declares For Edo Governorship Race by nlfpmod(mod): 2:03pm On Nov 27, 2023
PoliticsRe: Edo 2024: Philip Shaibu Declares For Governor by nlfpmod(mod): 2:02pm On Nov 27, 2023
TravelUnited Nigeria Airline Lagos-Abuja Flight Lands In Asaba by nlfpmod(mod): 9:12pm On Nov 26, 2023

https://www.youtube.com/watch?v=C2WxQ_oZGGI

Nigeria my country. We departed Lagos about an hour ago on @flyunitedng to Abuja, and upon arrival, the cabin crew confidently announced that we've arrived Abuja, only for us to realize that we landed in Asaba. Apparently, our pilot was given wrong flight plan from Lagos 🤣🙆‍♂️
Dawisu Peacock

Why we diverted Abuja flight to Asaba -United Nigeria Airline


United Nigeria Airline has said that it temporarily diverted its flight NUA 0504 en route Abuja to Asaba on Sunday, November 26, due to poor destination weather.

This explanation came shortly after a former aide to the national chairman of All Progressive Congress (APC), Dawisu Tanko, posted on social media that a United Nigeria flight which he boarded headed for Abuja, informed passengers that they had arrived the Nnamdi Azikiwe Airport, Abuja, only to discover that they had landed in Asaba International Airport.

He said: “We departed Lagos about an hour ago on @flyunitedng to Abuja and upon arrival, the cabin crew confidently announced that we have arrived at Abuja, only for us to realize that we landed in Asaba. Apparently, our pilot was given the wrong flight plan from Lagos.”

But the Head, Corporate Communications for the airline, Achilleus-Chud Uchegbu, said in a statement that the pilot of the aircraft was aware of the temporary diversion and was properly briefed but that a wrong announcement was made by cabin crew upon landing safely in Asaba, creating confusion among the passengers.

“A United Nigeria Airlines flight, NUA 0504, operating from the MM2 in Lagos en route Abuja on Sunday, November 26, 2023, was temporarily diverted to the Asaba International Airport due to poor destination weather.

“At all material time, the pilot of the aircraft was aware of the temporary diversion and was properly briefed. However, a wrong announcement was made by cabin crew upon landing safely in Asaba, creating confusion among the passengers.


Meanwhile, the aircraft has landed safely in Abuja following improvement on destination weather.

United Nigeria Airlines remains committed to ensuring the safety of its passengers at all times.”
https://sunnewsonline.com/why-we-diverted-abuja-flight-to-asaba-united-nigeria-airline/

CrimeRe: How Police Slapped Me & Withdrew ₦390k From My Account In Lagos - Man by nlfpmod(mod): 3:09pm On Nov 26, 2023

CrimeHow Police Slapped Me & Withdrew ₦390k From My Account In Lagos - Man by nlfpmod(mod): 3:09pm On Nov 26, 2023
As shared by Oseni Qasim Olusegun (JQ):

I just got tossed away by the Nigerian police, I was coming back from a friends introduction, got to the front of my estate at cemetery waec office along igbogbo road by 11:00pm 25 NOV 2023, me and my friend was stopped by the Nigerian police and our car was searched and nothing was found.

Immediately they told us to come down so they could search well, when they found nothing, they saw my friends tattoo and immediately called us a cultist, we was still trying to tell them cultist as how. I was slapped and told to seat at the back seat of my car, two @PoliceNG office join at the back seat.

They turn around and started driving towards ogolonto my friend was thrown inside their bus, they drive us to way bridge along mile 12 all the way from ebute ikorodu, stopped there and threatened to shoot me, I was handcuffed they slapped me multiple times

My phone was unlocked with my Face ID, the officer with my phone went straight to my banking apps opened piggy Vest made me withdraw 1.5m to my fcmb account it didn’t work many times cause of network issues , we kept trying multiple times with different OTP till it was successfully transferred to my fcmb

After it was transferred to Fcmb acct from piggy vest, they tried transferring 1M from my fcmb it didn’t go through cause of daily limit so they result to me making the transactions little by little.

cause they said they will take all the money in my Fcmb acct so I made a transfer of 200k 100k , 50k , 20k with Ussd code , then 20k from my PalmPay.

Total of 390k was withdrawn from my acct to these moniepoint 8274433925 mummy T ventures , they tried to withdraw all 1.5m from fcmb thank god Otp was not sent to my number due to network I guess, so they carted away with 390k.


I could not make any video or sort cause they was with our phones but I recognize their faces they are from ipakodo police they said, I’m still traumatized please I need my money it’s supposed to be added to my rent money
JQ

Police React

Lagos Public Relations Officer, SP Benjamin Hundeyin reacted:
"Send your phone number via DM."

Foreign AffairsHamas Releases Video Of Hostages Handover by nlfpmod(mod): 2:55pm On Nov 25, 2023

https://www.youtube.com/watch?v=EEKoAdvqX4E?si=NApeRlxrH4JcwTpZ

Video released by Hamas' military wing shows women and children being shepherded out of a vehicle and into the care of Red Cross workers.

A total of 24 people held by Hamas for the past seven weeks have been released as part of a hostage deal.

Music/RadioZlatan - 10 Bottles (Official Video) by nlfpmod(mod): 12:32pm On Nov 25, 2023
Foreign AffairsIsrael Reviews List Of Hostages Set To Be Freed By Hamas Today by nlfpmod(mod): 11:24am On Nov 25, 2023
Israel has received a list of hostages to be freed from Gaza on Saturday by Palestinian militant group Hamas, officials said, following the release of 24 hostages the previous day, the first of a planned four-day truce.

Israeli security officials were reviewing the list, the office of Prime Minister Benjamin Netanyahu said in a statement, after his government's vow to work for the release of all hostages taken by Hamas in an attack on Israel on Oct. 7.

The pause in the fighting was the first such break, with both sides saying hostilities would resume as soon as the truce ends. U.S. President Joe Biden expressed hope it could be extended, however.

The released hostages, including Israeli women and children and Thai farm workers, were transferred from Gaza and handed to Egyptian authorities at the Rafah border crossing, along with eight staff of the International Committee of the Red Cross in a four-car convoy, the organisation said.

They were then taken to Israel for medical checks and re-unions with relatives.

Qatar, which acted as mediator for the truce deal, said 13 Israelis had been released, some with dual nationality, as well as 10 Thais and a Philippine national - farm workers employed in southern Israel when they were seized.

Thirty-nine Palestinian women and children, some convicted or detained on suspicion of weapon charges and violent offences, were released from Israeli jails. The freed Israeli hostages included four children accompanied by four family members, and five elderly women.

Biden said there was a real chance of extending the truce, adding that the pause was a critical opportunity to get humanitarian aid into Gaza.

He declined to speculate how long the Israel-Hamas war would last. Asked at a press conference what his expectations were, he said Israel's goal of eliminating Hamas was legitimate but difficult.

The Palestine Red Crescent Society said 196 trucks of humanitarian aid carried food, water and medical supplies through the Rafah crossing on Friday, the biggest such convoy into Gaza since Hamas' assault on Israel and Israel's subsequent bombardment of the territory.

About 1,759 trucks have entered the narrow enclave since Oct. 21, it added.

Aid groups have used the truce to evacuate patients and health workers from some northern hospitals that have all but collapsed due to attacks and lack of fuel.

The World Health Organization helped transfer 22 patients from Al Ahli hospital to the south on Friday, its chief Tedros Adhanom Ghebreyesus said on social media platform X.

"To meet all the health needs in Gaza, much more support is needed and above all sustained ceasefire," he said.

MIXED EMOTIONS IN ISRAEL

The families of hostages expressed mixed emotions, fearing for those left behind.

"I’m not dead, I’m not dead," Thai farm worker Vetoon Phoome told his family, who thought he had been killed in the Hamas attack seven weeks ago, according to his sister, Roongarun Wichagern.

She told Reuters from her home in northeastern Thailand that her 33-year-old brother's survival was a "miracle".

Ten Thai labourers were among the hostages released. Thailand said 20 of its nationals remain captive, with Prime Minister Srettha Thavisin urging their release "as soon as possible" in a post on social media.

A source briefed on the negotiations said the Thai release was unrelated to the truce deal with Israel and followed a separate track of talks with Hamas mediated by Egypt and Qatar.

"I'm excited for the families who today are going to hug their loved ones," Shelly Shem Tov, the mother of Omer Shem Tov, 21, said in an interview with Israel's Channel 12, although he was not among those released on Friday.

"I am jealous. And I am sad. Mostly sad that Omer is still not coming home."
https://www.reuters.com/world/middle-east/israel-receives-list-hostages-be-released-saturday-by-hamas-2023-11-24/

Foreign AffairsRe: Pictures Of Israeli Hostages Released By Hamas by nlfpmod(mod): 9:31pm On Nov 24, 2023
Yafa Adar, 85, was kidnapped from Nir Oz. Her granddaughter Adva found a video of her being taken to Gaza, surrounded by four armed men. She has three children, eight grandchildren and seven great-grandchildren, the group speaking for families said. Yafa's grandson Tamir, 38, who defended the kibbutz as part of the Nir Oz emergency squad, was also taken to Gaza, the Times of Israel reported.

Foreign AffairsRe: Pictures Of Israeli Hostages Released By Hamas by nlfpmod(mod): 9:29pm On Nov 24, 2023
Hanna Katzir, 77, appeared in a hostage video released by Islamic Jihad on 9 November. In it, she is seen sitting in a wheelchair as she addresses the camera. She was abducted from Nir Oz, along with her son, Elad Katzir, 47.
Foreign AffairsRe: Pictures Of Israeli Hostages Released By Hamas by nlfpmod(mod): 9:29pm On Nov 24, 2023
Channah Peri, 79, was taken hostage along with her son Nadav Popplewell, 51, said Channah's daughter Ayelet Svatitzky, who was speaking to them on the phone when the gunmen burst in. She said the captors sent pictures of her two relatives, who both have diabetes, with armed men in the background. Channah emigrated to Israel in the 1960s from South Africa and has three children, the group speaking for families said.

Foreign AffairsRe: Pictures Of Israeli Hostages Released By Hamas by nlfpmod(mod): 9:28pm On Nov 24, 2023
Ohad Munder-Zichri, nine, his mother, Keren Munder, 54, and his grandmother Ruthi Munder, 78, were kidnapped from Nir Oz, Israeli officials said. The Associated Press reported that a phone signal has been traced to Gaza. Ohad's ninth birthday took place while he was in Gaza. Avraham Munder, Ruthi Munder's husband, and Keren's father and Ohad's grandfather, is still being held hostage.

Foreign AffairsRe: Pictures Of Israeli Hostages Released By Hamas by nlfpmod(mod): 9:27pm On Nov 24, 2023
Doron Katz Asher, 34, and her two daughters Raz, four, and Aviv, two, were taken captive while staying with relatives near the Gaza border. Doron's husband, Yoni, saw a video of his wife and daughters being loaded on to a truck with other hostages. He also traced Doron's mobile phone to Gaza.

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