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Politics / Re: Osinbajo Presents Legacy Document Of NEC In The Last Eight Years To Govs by TheRareGem1(f): 8:03am On Apr 28, 2023
This is good. It will serve as template for the incoming vice President, senator Kashim Shettima. This is what has never been done before. Of course Osinbajo has done well once again leaving behind such document
Politics / Osinbajo Presents Legacy Document Of NEC In The Last Eight Years To Govs by TheRareGem1(f): 8:02am On Apr 28, 2023
I had the pleasure of presenting a Legacy Document of NEC in the last eight years at the Valedictory National Economic Council Meeting.

The Legacy Document is a report of the activities of the National Economic Council from 2015 to 2023. It is of course a summary of all the activities including the major contributions of the National Economic Council from 2015 to 2023.

https://twitter.com/ProfOsinbajo/status/1651842183375335424?t=z7Wl4NNBm8oCHBISkFXJcA&s=19

Politics / Re: NEC Recommends Postponement Of Petrol Subsidy Removal by TheRareGem1(f): 4:32pm On Apr 27, 2023
Subsidy should be removed please. Let the money be out into good use for the betterment of the people

26 Likes 3 Shares

Politics / Re: Buhari Arrives Army Parade In Military Uniform (Photos) by TheRareGem1(f): 12:26pm On Apr 27, 2023
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Politics / Buhari Arrives Army Parade In Military Uniform (Photos) by TheRareGem1(f): 12:24pm On Apr 27, 2023
PHOTOS: Buhari Arrives Army Parade In Military Uniform

The President, Major General Muhammadu Buhari (retd.), has arrived at the Nigerian Army trooping and presentation of colours parade at the Eagle Square in Abuja on Thursday.

Buhari will unveil 28 out of the 81 national and regimental colours for the newly established and operationalised units and retired unit colours of the Nigerian Army.

https://twitter.com/MobilePunch/status/1651544606348115968?t=BX6K2f5BtUfTg5lOe_ofDw&s=19

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Politics / Re: Photos From 5th PEBEC Award Attended By VP Osinbajo At The Villa by TheRareGem1(f): 12:00pm On Apr 27, 2023
God bless Nigeria

1 Like

Politics / Re: Photos From 5th PEBEC Award Attended By VP Osinbajo At The Villa by TheRareGem1(f): 11:29am On Apr 27, 2023
5th pebec Award

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Politics / Re: Photos From 5th PEBEC Award Attended By VP Osinbajo At The Villa by TheRareGem1(f): 11:26am On Apr 27, 2023
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Politics / Re: Photos From 5th PEBEC Award Attended By VP Osinbajo At The Villa by TheRareGem1(f): 11:26am On Apr 27, 2023
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Politics / Photos From 5th PEBEC Award Attended By VP Osinbajo At The Villa by TheRareGem1(f): 11:26am On Apr 27, 2023
Vice President Yemi Osinbajo SAN attends the The 5th Presidential Enabling Business Environment Council (PEBEC) Awards as the special guest of honor and keynote speaker at the Statehouse Presidential Banquet Centre, Abuja. 26th April, 2023.

3 Likes

Politics / Re: What Did Katsina And Ogun State Benefit From Buhari And Osinbajo? by TheRareGem1(f): 8:30am On Apr 27, 2023
The school of transportation alone is a great achievement. Focus on what Gov Masari achievements are in Katsina.

1 Like 1 Share

Politics / Re: Under Osinbajo As Vice President, Ogun State Remained perpetually Stagnant. by TheRareGem1(f): 8:28am On Apr 27, 2023
Last time I checked, Dapo is doing the great job which just earned him a second tenure and Ogun is recording a giant strides. Trying to bring the number two man into state affairs such as this is preposterous.

Talk about Ikenne which he has executed a lot of projecta for his people. Go and verify.

O
Politics / Re: Controversy As Osinbajo Invites Chimamanda For His Book Launch by TheRareGem1(f): 8:25am On Apr 27, 2023
Some people are just irredeemable. Wait. Is it only her that was invited and this so called book launch, it is Osinbajo's people that organises it. And APC members, government officials, Former President and head of states would be present.
Politics / Re: Photo: Osinbajo Receives By Leadership Of University Of Pennsylvania by TheRareGem1(f): 9:23pm On Apr 25, 2023
OloYeOfEgbE:
This guy is so weak....TUEh..

Imagine aboki dey toss whole VP even when Mr.P no dey country.. No mass followers,nothing..

Na wa ooo

Spewing trash
Politics / Re: Photo: Osinbajo Receives By Leadership Of University Of Pennsylvania by TheRareGem1(f): 9:06pm On Apr 25, 2023
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Politics / Re: Photo: Osinbajo Receives By Leadership Of University Of Pennsylvania by TheRareGem1(f): 9:05pm On Apr 25, 2023
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Politics / Photo: Osinbajo Receives By Leadership Of University Of Pennsylvania by TheRareGem1(f): 9:05pm On Apr 25, 2023
Vice President Yemi Osinbajo SAN arrives at PENN Museum, University of Pennsylvania and is received by the University Leadership persons of Camille Z. Charles, Wale Adebanwi, Erika E. James (Dean, Wharton Business School), Jeffrey Kallberg (Associate Dean, School Of Arts And Science), and Wasa (Wharton Business Students Association). Philadelphia, USA.

The Vice President also takes a tour of some Africa Museum Holdings courtesy of Tukufu Zuberi, Professor of Race Relations at the University

He finally delivers a Special Lecture at University of Pennsylvania, Philadelphia, USA.

Cc mynd444 lalasticlala

1 Like

Politics / Re: Osinbajo Honours Invitation By Us Ivy School, University Of Pennsylvania.- Pics by TheRareGem1(f): 8:54pm On Apr 25, 2023
Great man
Politics / Nigeria's Jacob Olupona Elected To American Academy Of Arts And Sciences by TheRareGem1(f): 4:29pm On Apr 21, 2023
Nigerian scholar and professor, Jacob Olupona, has been elected into the American Academy of Arts and Science, the academy website said.
Olupona, a Professor of African Religious Traditions at the Harvard Divinity School, is among the 269 newly announced Academy fellows revealed by the institution.

The announcement was made on Wednesday, April 19, 2023, by Academy President David W. Oxtoby and Chair of the Board of Directors Nancy C. Andrews.

The Academy announced that 269 excellent individuals have been elected to the Academy in 2023.

The new members were listed on the Academy website as it marked another celebration of excellence which began over 240 years ago.

According to the institution, “This year’s election of new members to the American Academy of Arts and Sciences maintains a commitment to honouring excellence that began more than 240 years ago.

“In 1780, the Academy’s founders – including John Adams and John Hancock – envisioned an organization that would recognize accomplished individuals and engage them in addressing the greatest challenges facing the young nation. The first members elected to the Academy in 1781 included Benjamin Franklin and George Washington.”


“Today, the Academy continues to be both an honorary society, electing new members from the non-profit, private, and public sectors, and an independent policy organization with initiatives in the arts, democracy, education, global affairs, and science,” the Academy said.

When announcing this year’s new members, Academy President David W. Oxtoby said, “With the election of these members, the Academy is honouring excellence, innovation, and leadership and recognizing a broad array of stellar accomplishments. We hope every new member celebrates this achievement and joins our work advancing the common good.”

Prof. Olupona was elected in the field of religious studies. He is a Professor of African Religious Traditions, with a joint appointment as a Professor of African and African American Studies in the Faculty of Arts and Sciences.

He bagged his Bachelor of Arts (BA) degree from the University of Nigeria, also holds MA and PhD, from Boston University in the United States.

Jacob Olupona, who joined the Faculty of Divinity and the Faculty of Arts and Sciences in 2006, is a noted scholar of indigenous African religions.

Currently, Olupona research focuses on the religious practices of the estimated one million Africans who have emigrated to the United States over the last 40 years, examining, in particular, several populations that remain relatively invisible in the American religious landscape: “reverse missionaries” who have come to the United States to establish churches, African Pentecostals in American congregations, American branches of independent African churches, and indigenous African religious communities in the United States.

His earlier research ranged across African spirituality and ritual practices, spirit possession, Pentecostalism, Yoruba festivals, animal symbolism, icons, phenomenology, and religious pluralism in Africa and the Americas.

In his book City of 201 Gods: Ilé-Ifè in Time, Space, and the Imagination, he examines the modern urban mixing of ritual, royalty, gender, class, and power, and how the structure, content, and meaning of religious beliefs and practices permeate daily life.

Olupona’s other books include Òrìsà Devotion as World Religion: The Globalization of Yorùbá Religious Culture, co-edited with Terry Rey, and Kingship, Religion, and Rituals in a Nigerian Community: A Phenomenological Study of Ondo Yoruba Festivals, which has become a model for ethnographic research among Yoruba-speaking communities.

In 2012, he was named one of Harvard’s Walter Channing Cabot Fellows, for distinguished publications.

Olupona has received grants from the Guggenheim Foundation, the American Philosophical Society, the Ford Foundation, the Davis Humanities Institute, the Rockefeller Foundation, the Wenner-Gren Foundation, and the Getty Foundation.

He has served on the editorial boards of three influential journals and as president of the African Association for the Study of Religion.

In 2000, Olupona received an honorary doctorate in divinity from the University of Edinburgh in Scotland, and in 2007 he received the Nigerian National Order of Merit, that country’s prestigious award given each year for intellectual accomplishment in the four areas of science, medicine, engineering/technology, and humanities. In 2018 he received the Martin E. Marty Award for the Public Understanding of Religion.

https://www.chronicle.ng/2023/04/jacob-olupona-academy-of-arts-sciences/

Politics / Twitter Removes Tinubu's Verification Badge - Chronicle.ng by TheRareGem1(f): 8:23pm On Apr 20, 2023
The verification badge on the official account of Bola Tinubu, Nigeria’s president-elect has been removed by Twitter on Thursday.
Chronicle NG could not independently verify why the verification badge from @officialABAT was removed by the social media platform.

Findings however revealed that Twitter could remove the verification badge if the account has violated one of its rules

Twitter may also remove the checkmark from accounts that are found to be in violation of the Twitter Rules,” the social media platform said on its website.

It is not clear why the former Lagos governor’s checkmark was removed but Chronicle NG reports that his media handlers have not posted any content on the account since April 17.

https://www.chronicle.ng/2023/04/twitter-remove-tinubus-verification-badge/
Politics / Re: Prejudice & Bias, Natural Aspects Of Human Nature: Osinbajo Goes Down Memory Lan by TheRareGem1(f): 10:33am On Apr 19, 2023
My VP
Politics / Re: Osinbajo Condemns Attempt to Deny People Right To Vote by TheRareGem1(f): 5:13pm On Apr 18, 2023
Good talk ✅
Politics / Osinbajo Condemns Attempt to Deny People Right To Vote by TheRareGem1(f): 2:00pm On Apr 18, 2023
STATE HOUSE PRESS RELEASE

LEADERS DON’T HAVE LUXURY OF TOYING WITH PREJUDICE IN CONTEST FOR POWER, IT’S A THREAT TO OUR DEMOCRACY, OSINBAJO WARNS

*Condemns attempts denying people right to vote in last elections

*VP calls for deliberate efforts to overcome ethnic, religious prejudices

*Speaks at NIPSS Good Governance Lecture series


In the contest for power, leadership elites must not toy with prejudices that alienate or divide any section of the country, rather they should conduct themselves with a high sense of responsibility in order to build a new Nigeria where there is justice, equity and shared prosperity.

Besides, deliberate efforts have to be taken to deal with ethnic profiling and prejudices before they influence political contests.

These were some of the highlights of the speech delivered today by Vice President Yemi Osinbajo, SAN, at the maiden Policy Making and Good Governance Lecture Series of the National Institute of Policy and Strategic Studies (NIPSS), Kuru, Plateau State.

According to the VP, “the leadership elites have a duty to conduct themselves with a high sense of responsibility even as they prosecute their contest for power.”

Explaining further, he noted that, “historically conscious and patriotic elites all recognize that, beyond what the letter of the law asserts, there are lines that cannot be crossed in the pursuit of political power.

"One of such lines is the willful exploitation of sectional sentiments and the invocation of ethnic antipathies to mobilize a political constituency. It is dangerous because it is an attempt that seeks to mobilize by fostering division and hatred.

Prof. Osinbajo outrightly condemned reported attempts in some parts of the country that denied some Nigerians their right to vote in the last elections.

“These elections witnessed the exploitation by political actors of the fears and anxieties of people about so-called outsiders. Any attempts to deny people the right to vote in any locality on the basis that they do not belong in that place is condemnable in the strongest possible terms,” he stated.

The Vice President also noted that “when ethnic or religious prejudices are weaponised for political purposes, we are confronted with a lethal potentially destructive situation.”

In a speech that also addressed the way forward in building a new Nigeria, the Vice President noted that “the most prosperous places are countries that have learned to harness diversity while building ever more inclusive institutions.”

He observed that “discrimination against people on the basis of their identity is explicitly condemned by most legal codes, including our own Constitution. But there is still a tension that exists between this new Nigeria and the old Nigeria as understood by a generation that is much more accustomed to political mobilization on the basis of identity. But we must ennoble and validate the Nigeria that our young people are consciously or unconsciously building. This is the future we want.”

According to him, "let us never forget that although we may speak different languages, belong to different tribes and profess diverse creeds; we are bound, above all else, by the language of a shared hope, by our common humanity as Nigerians, and a supreme faith in the possibility of our country."

Speaking further against any form of discrimination, the VP noted that “if we are truly committed to economic growth, then we must also be committed to creating inclusive communities and strengthening social cohesion. Put another way, the only thing that grows in a climate of tribal hatred is poverty. This is why justice, healing, and a stronger commitment to the ideals of integration are so important.”

Continuing, Prof. Osinbajo stated that “where the forces of primordial division and polarization are harnessed for the sake of electoral gain, the venom of such devices remains and continues to poison communal relations, setting neighbour against neighbour. We have witnessed the catastrophic consequences of the political weaponization of prejudice in places such as Rwanda.”

Emphasising the role of political elites, Prof. Osinbajo asserted that “elites have a responsibility to discipline themselves in the pursuit of their political ambitions and exercise of power to ensure that the fabric of our communities is not rent asunder.

“When elites fail to compete responsibly and moderately, they foster a sense that everything goes, which breeds instability. We have seen this dynamic play out time and time again in our history. A model of competition that recognizes no ethical limits or boundaries is a threat to our democracy. It is incumbent upon politicians to act and conduct their competition responsibly.”

Urging Nigerians to learn from the Rwandan genocide which claimed about a million lives, the Vice President also pointed out the lives lost in Nigeria’s civil war, which he observed was fuelled by bigotry, what he called the “exploitation of prejudice and the incitement of hatred against ethnic communities.”

He stated that “we talk about the civil war, but we seem to ignore the fact that it is the manipulation of ethnoreligious sentiment that eventually boiled over into that tragedy. The demons released by that bloody conflict among brothers are yet to be fully caged, and we pay the price of that healing process daily. This is not a chapter of our history that we should ever allow to repeat itself."

Emphasising the need for inclusion and unity across tribes and political divides, Prof. Osinbajo said urgent steps must be taken by the country’s elites and citizens to avoid the tragedies fuelled by bigotry and prejudices.

Proposing the implementation of laws to safeguard society from the dangerous manipulation of ethnic sentiments, the VP noted that “the Rwandese took deliberate steps to ensure that that tragedy would never be repeated, including even a memorial to the dead.

“But more importantly, the strict enforcement of laws against the use of ethnically or religiously charged rhetoric, and a raft of laws that criminalize divisive attitudes and behaviour. We also must do the hard work of providing and implementing a framework for fair, just, and unifying dealings amongst our people.”

He also observed that “people do not suddenly start hating each other during elections.

“While political actors may invoke ethnic or sectional sentiments in an election, these social and cultural antipathies exist, lurking beneath the surface. As we reflect on the takeaways from this election cycle going forward, we must also consider the prevalence of ethnic profiling and other forms of day-to-day discrimination that occur.”

Highlighting Nigeria’s uniqueness, Prof. Osinbajo noted that the country’s diversities should be harnessed for good and not for political gains and selfish motives.

“There is a recognition that sociocultural diversity while being a fact of life is neither a weapon nor a weakness. The most prosperous places are countries that have learned to harness diversity while building even more inclusive institutions.

“I believe that Nigeria is neither unique nor exceptional on account of her diversity. The genre of scholarship and public polemic that problematizes our country’s profusion of ethnicities and religions and characterizes it as a profound flaw is one with which I differ strongly. Our diversity is neither a liability nor a curse; it is, in fact, a blessing and an asset,” he said.

Prof. Osinbajo then called for a fair, just, and more inclusive society, noting that “inclusion is essential to prosperity,"

"So, is it possible to conquer ethnic or religious prejudice and build a unified nation? Yes, it is, but it is a journey, not an event; and it is perhaps the most important issue in nation-building," he buttressed.

The VP referenced countries such as Singapore, Tanzania and Rwanda which have tackled and overcome national prejudices, noting that Nigeria can equally do the same to address the underlying challenges brought about by all forms of prejudices in our society.

According to him, “leadership has been critical in all the countries that have been relatively successful in the journey to overcoming prejudice. He highlighted particularly the conduct of the elites of these countries.

“The elites of both countries recognized that cohesion and peaceful coexistence have to be intentionally prioritized and pursued. This is the challenge of leadership in our country. Elites have a responsibility to discipline themselves in the pursuit of their political ambitions and their exercise of power to ensure that the fabric of our communities is not rent asunder.

“We must recognize that if peaceful coexistence is sacrificed on the altar of partisan politics, then all will be lost.”

Exploring further the nexus between a country’s diversity and shared prosperity, the Vice President observed that “in the 21st century, the true wealth of nations is human capital.

"This means that places that have learned to attract and retain the most diverse pool of skilled human resources are easily winning the race for success."

Prof. Osinbajo submitted that diversity “also provides a broad range of cultural, philosophical, and intellectual approaches for solving problems.

“A state’s chances of growth will depend upon how much qualitative capital it can attract and the richer the human capital pool at its disposal, the more taxes it can harvest to fund governance and social services. In this scenario, the politics of division and tribalism will breed poverty because it can only alienate the human capital that a state desperately needs for growth.”

Proffering solutions, the Vice President noted that fairness and justice were crucial elements in moving the country forward.

Aside from the responsibility of the political elite in fostering unity, the Vice President also called on the media and civil society to act responsibly in projecting particular narratives.

“That burden is also on civil society, including and perhaps, especially the media. The media has a twofold responsibility. As an institution that is uniquely influential in shaping public perceptions and attitudes, it has to be extremely mindful of what sort of narratives it is projecting and how it frames disputes, especially in our multicultural and heterogenous contexts,” he stated.

Prof. Osinbajo recalled the surgery on his right femur in July 2022, in a Nigerian hospital to buttress his point.

He explained: “On the 16th of July 2022, I went in for surgery on my right femur at a hospital in Lagos. Of course, as I lay on the operating bed and I was about to be anaesthetised, a thought crossed my mind that I would be absolutely at the mercy of the surgeons, the paramedics and the anesthesiologist. I had to trust them with my life.

“One was from the South East, the head of the team was from Delta State, some were Muslims, some were Christians. In fact, I suspect one did not even believe in God. Yet it didn’t seem to matter. They were the experts.

“When we make the decisions that affect our lives and those of our children the most, somehow, we are able to ignore tribal or religious prejudices. This is the attitude we must adopt always to build the nation of our dreams,” he concluded.

During the interactive session with the NIPSS faculty and course participants, Prof. Osinbajo answered questions posed by participants about curbing ethnic and religious biases, ensuring policy continuity, and the imperative of building a new Nigeria, among others.

In separate remarks, Plateau State Governor, Hon. Simon Lalong, and the Gbong Gwom Jos, HRM, Jacob Gyang Buba, thanked the Vice President for his steadfastness and interest in the upliftment of academic standards at the National Institute, noting that since his assumption to office as VP, the institution has grown in leaps and bounds.

On his part, the Director General of NIPSS, Prof. Ayo Omotayo, said the inaugural Policy Making and Good Governance Lecture Series is one of the many innovations of the institute that is inspired by Prof. Osinbajo’s visionary leadership and useful recommendations.

He assured the Vice President of the management’s commitment to always maintain the high standards set before them, especially in making the institute Nigeria and Africa’s foremost think-tank.

After the lecture, the Vice President accompanied by other dignitaries inaugurated the newly built quarters for Nigeria Army participants at the Institute.

Also present at the event were the Deputy Governor of Plateau, Prof. Sonni Tyoden; the Speaker of the Plateau State House of Assembly, Hon. Yakubu Sanda; the Vice Chancellor of the University of Jos, Prof. Tanko Ishaya, and the General Officer Commanding, 3 Armoured Division, Nigeria Army, Maj. Gen. Abdul Khalifa Ibrahim, who represented the Chief of Defence Staff, among others.

Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
17th April, 2023

https://www.chronicle.ng/2023/04/2023-osinbajo-condemns-people-right-vote/
Politics / Re: 'it Is Damaging'~osinbajo Faults Weaponisation Of Ethnic,religious Biase In Poll by TheRareGem1(f): 10:52am On Apr 18, 2023
Blissful45:
.

How?
Pls today is my birthday. I may not be Davido with rich friends and family but I've got nairalanders. Pls drop whatever u can so I can get a bottle of coke, cook rice , eat and praise God. Thanks

May Your new age be blessed. Happy birthday to you m
Politics / 'it Is Damaging'~osinbajo Faults Weaponisation Of Ethnic,religious Biase In Poll by TheRareGem1(f): 9:58am On Apr 18, 2023
[i][/i]'It is damaging' -- Osinbajo faults weaponisation of ethnic, religious biases during polls[b]

Vice-President Yemi Osinbajo says it is possible for Nigeria to conquer ethnic and religious prejudices.

Osinbajo spoke on Monday at the maiden policy-making and good governance lecture series of the National Institute of Policy and Strategic Studies (NIPSS) in Plateau state.

The vice-president faulted the “weaponisation” of ethnic and religious biases for political purposes, adding that democratic competition was defined by societal sociocultural diversity.

Speaking on the recently concluded general election, Osinbajo said leaders do not “have the luxury of toying with prejudice”, adding that they “have a duty to conduct themselves with a high sense of responsibility even as they prosecute the contest for power”.

He said there is a need to assess the extent to which political actors comply with the peace accord they sign.

“One of the unsavoury tendencies that was witnessed in this election cycle was the weaponization of ethnic, religious and sectional prejudices in ways that are damaging to social cohesion,” he said.

“Any attempts to deny people the right to vote in any locality on the basis that they do not belong in that place is condemnable in the strongest possible terms.”

He said Nigeria’s diversity is neither a liability nor a curse but a blessing and an asset.

“Social integration is one of the highest ideals of Nigeria’s constitution which guarantees citizens the right to traverse the length and breadth of this country without hindrance,” Osinbajo said.

“The constitution affirms the right of all Nigerians to not be discriminated against on the basis of their identity Above all, the constitution holds up integration as a priority.”

He said the law was not created to fuel an apartheid system that distinguishes between natives and settlers but to create a civic nation.

“Is it possible to conquer ethnic or religious prejudices and build a unified nation? Yes it is, but it is a journey, not an event; and it is perhaps the most important issue in nation-building,” Osinbajo said.

“As humanity seeks to build a more durable, just and sustainable civilisation, our natural prejudices and allied irredentist urges have to be disciplined and sublimated in a mutuality rooted in our shared humanity.”

According to the professor of law, the most prosperous places are countries that have learned to harness diversity while building inclusive institutions.

https://www.thecable.ng/it-is-damaging-osinbajo-faults-weaponisation-of-ethnic-religious-biases-during-polls/amp

Romance / Re: . by TheRareGem1(f): 5:42am On Apr 18, 2023
Spiritualsdeeps:
Those that Produce you has Responded already that you were A Products of there Inability to Get Satisfied with each other.

Remember in one of your Thread how you Lamented as being a Product of the Extramarital Affairs that your mother had with her Man Friend and your father was so bittered that your mother could be so Promiscuous to Disappoint him.

It's quite unfortunate that Your Mother was thrown out of her Matrimonial home.

Hope you have been able to reconcile both of them now.. Sorry.. it happens.. That thread of yours really made lots of People to learn the travails you as a product from Infedility went through.

So sorry

Guy, you have been roasted already by him. Just rest 🤣🤣🤣

1 Like

Politics / Re: Subsidy Palliative: FG To Pay N5,000 To 10m Households For 6 Months by TheRareGem1(f): 1:38pm On Apr 17, 2023
Pure rubbish Im sorry to say.

35 Likes 2 Shares

Politics / Subsidy Palliative: FG To Pay N5,000 To 10m Households For 6 Months by TheRareGem1(f): 1:17pm On Apr 17, 2023
The federal government will pay N5,000 to 10 million households for six months as palliative for removing petrol subsidy after June.

Daily Trust reports that the amount is N50 billion per month and reaches N300bn with $800m (N371.6bn at CBN N464/$1 rate) World Bank loan to fund the project.

The Minister of Finance, Budget, and National Planning, Zainab Ahmed, explained this at the Nigerian briefing on the sideline of the World Bank/ International Monetary Fund spring meetings in Washington DC, yesterday.

Zainab also said the $800m has been negotiated and approved by the Federal Executive Council, and is now before the parliament for approval.

She said: “Once the parliament approves it, we roll. We have also been doing preparatory work side by side along the approval process. And that includes the building of the social register, which will be used for the electronic transfers of the funds.

We needed to have this ready because when the government eventually removes the fuel subsidy, there will be an immediate transport palliative that will be provided to the most vulnerable members of our society who have been identified, registered, and now contained in our national social register,” she noted.

The minister said the effort is led by the ministry of humanitarian affairs, disaster management, and social development. They developed that register with the support of the World Bank. The register has about 10 million households, equivalent to 50 million Nigerians.”

Zainab explained that the initial design is to disburse cash transfers of N5,000 per month per household for a period of six months. “So, whether this is enough is an assessment that we are undertaking with the transition team. If it’s not enough, the country has to raise additional resources to be able to cover more people, extend the period or increase the amount; whichever is finally negotiated upon.

When the subsidy is removed, there would be additional revenue that would now accrue to the Federation account.

Speaking on how the palliative will impact the transport sector, she said there will be a consideration of whether some of the support will go to the transport sector directly but it’s not a decision that has been taken yet.

Zainab also said the subsidy removal could spike inflation but would moderate. “Anywhere in the world where you remove any kind of subsidy, it has that effect. That is why that initial fund is necessary so that you are deploying it quickly and reducing the impact on the lives of the most vulnerable people in our society.”

Debt Sustainability

Speaking on debt sustainability, the minister said, debt was one of the main things that were discussed throughout the sessions at the World Bank, adding that because of high inflation globally and the continuous quantitative easing the central banks globally are undertaking, interest rates continue to rise.

“So, if you have taken a foreign debt, your debt cost rises without you doing anything. So, we all have these challenges such that what you have planned in budget and provided for just keeps changing because interest rates keep changing.”

To ease these burdens, the minister said various options were discussed including freezing interest rates at some point.

No $23.3m paid to consultant

The minister also denied any knowledge of paying $23m (about N71bn) to some consultants for facilitating the approval of the $800m World Bank loan.

“We raise our funds ourselves. We don’t need consultants to raise funds from these institutions. We raised this $800m by discussing with the Debt Management Office, the Ministry of Finance, and the World Bank country office in Nigeria. We have internal expertise that has worked well over time, so we don’t need consultants for that,” Zainab said.

Plans to increase taxes

On the calls by the World Bank and IMF for countries to raise revenues through taxes, Zainab said: “The new administration has to consider the review of the VAT tax rate by way of increasing it. We have already introduced some new excise duties, so maybe when they stabilise, there may be reviews.

“Again, by way of the finance act where on an annual basis reviews are done on different tax laws to ensure enhancement. But major work is actually in improving efficiency, enhancing compliance, and expanding the tax base,” she explained.

https://dailytrust.com/subsidy-palliative-fg-to-pay-n5000-to-10m-households-for-6-months/

4 Likes 1 Share

Politics / Re: Osinbajo, Obsanjo, COS, Dapo Abiodun, Others Attend Fidau Prayer Of Former AGF by TheRareGem1(f): 8:04pm On Apr 16, 2023
May Allah forgive his shortcomings and grant him Janatu l firdaus, Ameen

Politics / Osinbajo, Obsanjo, COS, Dapo Abiodun, Others Attend Fidau Prayer Of Former AGF by TheRareGem1(f): 8:03pm On Apr 16, 2023
Vice President Yemi Osinbajo SAN, Segun Ajibola, Akin Ajibola, Demola Ajibola, and their spouses at the 8th day Fidau Prayer of their Boss, Mentor, and Father, HE Prince Bola Ajibola at the Crescent University in Ogun State.

Cc
Mynd444
Lalasticlala

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Politics / INEC Annuls Binani’s Declaration As Adamawa Governor-elect by TheRareGem1(f): 11:59am On Apr 16, 2023
Breaking News:
The attention of the Commission has been drawn to a purported declaration of winner in the Adamawa Governorship election by the Resident Electoral Commissioner (REC) even when the process has clearly not been concluded.
2. The action of the REC is a usurpation of the power of the Returning Officer. It is null, void and of no effect.
Consequently, the collation of results of the supplementary election is hereby suspended.

3. The REC, Returning Officer and all involved are hereby invited to the Commission's Headquarters in Abuja immediately.
Detailed statement to follow shortly.

Barr. Festus Okoye
National Commissioner, Information & Voter Education

https://twitter.com/inecnigeria/status/1647550170576429056?t=EEf4KuXjrkZt_QmLoSuM2Q&s=19

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Politics / Re: About 2m Nigerians Impacted In FG’s 2022 NPRGS by TheRareGem1(f): 5:05pm On Apr 13, 2023
Good development that we can see

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