By Michael Owhoko, Ph.D The Urhobo is among the first 10 major ethnic groups, and the fifth largest in Nigeria, yet, its initial capacity to command considerable influence in the Nigerian polity was weakened by a lack of brotherliness, unity, and trust among its people, unarguably, owing to the multiplicity of dialects, as depicted in the 24 kingdoms that make up the nationality. In an attempt to eliminate this deficit, prevent disunity-induced regression, and raise sustained awareness for unity and trust across the divide, the founding Urhobo leaders came up with a philosophical slogan of “Urhobo Ovuovo”. Specifically, the concept…
Author: Elvis Eromosele
ONE Campaign, an international, non-partisan, non-profitable, advocacy and campaign organisation that fights extreme poverty and preventable disease, particularly in Africa, through public awareness, among others, has recognized Enugu State as the second highest performing state in Primary Healthcare Service Delivery in Nigeria for 2019-2021. Presenting the award of recognition to the Executive Secretary, Enugu State Primary Healthcare Development Agency (ENSPHCDA), Dr. George Ugwu, the Country Director of One Campaign in Nigeria, Stanley Achonu, commended the administration of Governor Ifeanyi Ugwuanyi for the excellent status of the primary healthcare system in the state. Achonu disclosed that ONE Campaign, which is also…
The federal government has confirmed that the Central Bank of Nigeria (CBN) is being owed N20 trillion ($47 billion), which is yet to be added to the country’s outstanding public debt, according to a report by the Budget Office of the Federation. This is coming as a think-tank backed by the Bill & Melinda Gates Foundation is seeking $50 billion in aid to help debt-ridden African countries re-enter capital markets and avoid future defaults. The debt figure was as of July 31, the Budget Office said, in a document, which gave the details of the country’s expenditure plans from 2023-2025.…
Pension Fund Administrators (PFAs) earned N125.39 billion in the financial year ended December 31, 2021, the National Pensions Commission of Nigeria (PenCom) said in a report. The Commission said the figure indicated an increase of 14.33 per cent, compared to the total income of N109.68 billion earned in 2020. PenCom stated that the total operating expenses of the PFAs amounted to N65.58 billion, as against N55.20 billion recorded in 2020, while gross operating profits in the industry increased from N54.78 billion in 2020 to N59.52 billion in 2021. According to the Commission, the major source of income for the PFAs…
The Federal Government has approved a concession arrangement for developing the Badagry deep seaport at a cost of $2.59 billion over a period of 45 years. The approval was finalised following a presentation by the Federal Ministry of Transportation at the Federal Executive Council (FEC) weekly meeting presided over by President Muhammadu Buhari in Abuja last week. The port, according to officials, is expected to generate $53.6 billion in revenue over the 45 years concession period. The Minister of Transportation, Mu’azu Jaji Sambo confirmed the deal shortly after the meeting at the State House, Abuja. “I am pleased to announce…
Oando Clean Energy has partnered with the Lagos State Ministry of Transportation to roll out 3,000 electric buses by 2030. Mr. Ademola Odunbanjo, Executive Vice President Oando Clean Energy, disclosed this at the ongoing ninth edition of the Lagos Climate Change Summit in Lagos, Wednesday. The News Agency of Nigeria ((NAN) reports that at the two-day event titled: “Integrating Climate Actions in Lagos State Development: Investment Opportunities and Trade-offs”, Odunbanjo spoke on the topic: De-carbonising Industries/Mobility via Innovative Clean Energy. He said that Oando would be experimenting with different energy mixes to come out with affordable green energy for consumers, mobility…
In an effort to align with the federal government’s target of achieving 70 per cent broadband penetration in five years, MTN Nigeria has launched what it tagged ‘Home Broadband services’. The idea, according to MTN is to expand broadband services to millions of homes across Nigeria, which currently boasts of approximately 44.3 per cent internet connectivity, whereas other African countries, such as South Africa, Egypt, and Kenya, are at 68, 74, and 48 per cent internet penetration, respectively. “At MTN, we believe that everyone deserves the benefits of a modern, connected life; hence our investment in industry-leading connectivity operations,” noted…
Nigeria banks borrowed a total of N4.5 trillion from the Central Bank of Nigeria (CBN) in July, compared with N3.6 trillion the previous month, representing a 27 per cent increase Month-on-Month. Banks borrowing from the regulatory bank totalled N13.36 trillion in the first seven months of this year, compared with N17.9 trillion borrowed in the prior seven months of 2021. The commercial lenders borrowed short-term funds from the Standing Lending Facility (SLF) to cover their position in a time of liquidity shortage. While the CBN lends money to banks through the SLF at an interest rate of 100 basis points…
The Nigerian Communications Commission (NCC) has committed over N500 million to the Nigerian universities and other tertiary institutions across the country to facilitate research and innovations to promote developments in the Nigerian telecommunications industry. Executive Vice Chairman of the Nigerian Communications Commission, Prof. Umar Danbatta, disclosed this at a two-day Regional Roundtable with Academia, Industry and Other Stakeholders in Kano recently. The NCC boss revealed on the occasion that the funds have been committed to research grants to universities and tertiary institutions, including professorial chairs in the universities in salient areas to drive technology development. Danbatta said the commission is…
The Nigerian government is expected to make over N200 billion annually as the new five per cent telecommunications tax goes into effect. Telecommunications subscribers are to pay five per cent tax on calls, SMS and data services in addition to the existing 7.5 per cent Value Added Tax (VAT) on telecommunications services meaning that subscribers get to pay 12.5 per cent as tax on all telecom services. Minister of Finance Budget and National Planning, Zainab Ahmed, had indicated a couple of weeks back that the government needs to tax non-oil sectors to remain solvent. Her words: “Payments are to be…