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Takeaways From President Buhari’s Visit To France – By Garba Shehu

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Buhari's lopsided appointments

The first official visit to Europe since the COVID-19 pandemic saw President Muhammadu Buhari going to Paris, France to participate in a summit convened by Emmanuel Macron, his counterpart in France, on the financing of African post-COVID economies.

The beginning of the idea of this meeting is traced to a conversation between the Kenyan President, Uhuru Kenyatta and his French counterpart, Emmanuel Macron. The conversation started like this: How would Africa come out of the challenges of the COVID-19 pandemic?

It is a notorious fact that COVID-19 has led to unprecedented economic and health challenges all over the world. Africa which has recorded continuous growth in the last 25 years suffered its worst recession in 2020.

The International Monetary Fund, IMF postulates that the continent needed a whopping USD 285 billion between 2021 and 2025 to achieve the growth momentum lost to the pandemic. Where do they start from?

That is why President Macron called this important summit, bringing together about 20 African leaders, about a dozen others from Europe and Asia as well as an impressive gathering of all the big players in the global financial system, the AfDB, the World Bank, the IMF and others. Also present were the G7 and G20 groups of countries, the World Trade Organization, WTO, the Organization for European Cooperation and Development, OECD and very many operators in the Financial Sector as well as investment and manufacturing.

The meeting ended with a strong resolve to make African states attractive to investment. This should change the existing notion that investment on the continent is risky and something to be avoided. That is one of the reasons why many African countries had turned towards China. From here going forward, Macron is promising that there would be in place, a guarantee scheme to make it less risky to invest in Africa.

The Macron-Africa summit also scored big on the issue of debt forgiveness. It made a strong case for debt cancellation or a new relationship between Africa and Europe.

READ ALSO: Suspected Gunmen Kidnap FUNAAB Student In Ogun

Equally significant is the decision to support the private sector financially to form partnerships between the players in Europe and their counterparts on the African continent.

An important resolution of this summit is the agreement for the formation of an Alliance for Entrepreneurship in Africa “to help mobilize all partners ready to support, through technical and financial resources, the development of African Private Sector, Micro, Small and Medium-sized Enterprises (MSMEs) including women entrepreneurs promoted by the Affirmative Finance Action for Women in Africa (AFAWA).”

To actualize this major aspiration, President Macron plans to host an African Business Summit later in the year. Nigerian and other African Businessmen will sit together with their European counterparts to address the issues of partnerships, the problem of African financing needs and supporting vibrant private sector initiatives on the continent.

It is hoped that this summit will open the channels to more private financing for Africa, and lead to reduction in poverty levels, boost jobs and employment among youths, and widen the donor base especially for climate change initiatives.

Climate change is very important to both Nigeria and France. For Nigeria, President Buhari is of the strong view that recharging the Lake Chad, which shrank in size to only 10 percent of its original size, with water from the Central African rivers will be actualized if and when France comes on board the idea.

Another important issue the summit addressed is that concerning the inequitable access to COVID-19 vaccines. Nigeria and all African countries face the danger of a COVID crisis similar to that of India without the western nations opening the doors to a fairer vaccine access. France, which is believed to hold a surplus of COVID-19 vaccines, says it will help Nigeria.

In the area of business, France and Nigeria agreed that outside of Morocco, Nigeria is the biggest destination for French Foreign Direct Investment, FDI.

There are 120 active French businesses in Nigeria with oil giant, Total leading the pack. Altogether, they have investments worth more than USD 7 billion.

The two countries agreed to increase trade and investment especially in agriculture, aviation, consumer goods, the creative arts and renewable energy, among others.

The important issue of security in Nigeria, the Lake Chad Basin area and the entire stretch of the Sahel was also enthusiastically discussed. Both countries agreed that security is an important part of our relationship.

France already participates in the Abuja-based intelligence fusion center which brings the West European nations and the countries bordering Lake Chad Basin together in sharing information.

President Macron promised a strong solidarity with Nigeria as the country squares up to the security challenges in many parts of the country. He also expressed support for the emergency meeting of the countries of the Lake Chad Basin Commission, LCBC coming up on Tuesday 25th of May, called to discuss the demise of Idris Deby-Itno and the future that lies ahead for Chad, its new leaders and the ongoing war against terrorism in the sub-region.

In addition to the summit and the bilateral with the French leader, President Buhari held six meetings including that which he traditionally holds with the Nigerian communities wherever he went.

He met Total, the largest French investor in Nigeria; the Dassault Systems, a leader in digital communications and software development; and Airbus, makers of airplanes and a prospective-partner in the new national airline starting in 2022. Airbus is also doing so much with the Nigerian Air Force and other players in the aviation sector. He also met Danaflex, a spare parts manufacturer in France, founded by a proud, inspiring Nigerian from the Southeast.

On a final note, the trip to France was a highly successful one for Nigeria with concrete promises and agreements.

 

Garba Shehu is the Senior Special Assistant to the President on Media and Publicity

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Nigeria In Darkness As National Grid Collapses Fourth Time In 2024

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Electrocuted

Nigeria encountered a widespread power outage as its primary electricity network, managed from Osogbo, Osun State, suffered a breakdown around 4:30 p.m. on Thursday, leaving countless households and businesses in darkness.

GWG.ng reports that this marked the fourth grid collapse within the first three months of the year, exacerbating the persistent challenges in Nigeria’s power sector. Reports from distribution companies (DisCos) across the country’s 36 states indicated that their power supply systems were incapacitated, resulting in extensive power outages nationwide. According to Leadership, electricity production on the grid, previously at 2,984 megawatts by 4 p.m. on Thursday, plummeted to zero within an hour. By 5 p.m., all 21 power plants connected to the grid had ceased operations.

This latest incident underscores another setback for the electricity sector in Nigeria, which has struggled despite efforts to enhance it through privatization and plagued the nation in darkness. The grid has witnessed 141 collapses in the past decade alone, revealing the entrenched challenges facing the industry. At the time of reporting, only the Azura Power Plant was actively contributing to the grid, albeit with a modest output of 54 megawatts. Meanwhile, major power generation plants such as Egbin, Afam, Geregu, and others remained inactive, exacerbating the country’s electricity shortage.


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Why CBN Increased Minimum Capital Requirements For Banks

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The Central Bank of Nigeria (CBN) has released new minimum capital requirements for commercial, merchant and non-interest banks.

In a statement on Thursday by its Acting Director, Corporate Communications Department, Hakama Sidi Ali, the apex bank pegged the minimum capital base for commercial banks with international authorisation at N500 billion.

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The CBN added that national authorisation commercial banks need to meet an N200bn threshold, while those with regional authorisation are expected to achieve an N50bn capital base.

The apex bank also disclosed that the new requirements for non-interest banks with national and regional authorisations are N20bn and N10bn, respectively.

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It said the increase was necessary due to prevailing macroeconomic challenges and headwinds occasioned by external and domestic shocks.

Recall that a circular signed by the Director, Financial Policy and Regulation Department, Haruna Mustafa, to all commercial, merchant, and non-interest banks and promoters of proposed banks emphasized that all banks are required to meet the minimum capital requirement within 24 months commencing from April 1, 2024, and terminating on March 31, 2026.

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According to the circular, the move, initially disclosed by the CBN Governor, Olayemi Cardoso, in his address to the Annual Bankers’ Dinner in November 2023, was to enhance banks’ resilience, solvency, and capacity to continue supporting the growth of the Nigerian economy.

To enable them to meet the minimum capital requirements, the CBN urged banks to consider inject fresh equity capital through private placements, rights issues and/or offers for subscription; Mergers and Acquisitions (M&As); and/or upgrade or downgrade of license authorisation.

Furthermore, the circular disclosed that the minimum capital shall comprise paid-up capital and share premium only. It stressed that the new capital requirement shall not be based on the Shareholders’ Fund.

The CBN circular said the minimum capital requirement for proposed banks shall be paid-up capital, adding that the new minimum capital requirement shall apply to all new applications for banking licenses submitted after April 1, 2024.

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Why Eyiboh Won NIPR’s Outstanding Spokesperson Award

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The Special Adviser on Media and Publicity and official Spokesperson to the President of the Senate, Rt.Hon Eseme Eyiboh has won the most Outstanding Spokesperson Award of the Nigeria Institute of Public Relations (NIPR) in collaboration with the Federal Ministry of Information.

Eyiboh, himself a former Spokesperson for the House of Representatives and  Chairman of its Committee on Media and Public Affairs was selected for the prestigious award on account of his roles in projecting the positive image of not only the President of the Senate but the Senate as an institution of democracy.

The Jury Sub-Committee of the National Spokespersons Awards, set up by the NIPR and the Ministry found Eyiboh worthy of the award among other  spokespersons operating across the Legislative arm of government in both state and national institutions in the country.

Eyiboh spokesperson

The ceremony took place at the International Conference Center, Abuja. In the award, Hon Eseme Eyiboh is described as an indomitable non-violent communication expert with deep network and effective practice delivery with clarity in objectives, strategic in framing engagements with his audience. His

impact and effectiveness in perception and reputation management is robust.

The letter to the award recipient, read in parts:

“I am excited to 

inform you that, from the numerous entries, you have been selected as the Outstanding Spokesperson Award – Legislature

in recognition of your work and having satisfied the selection criteria”.

“The National Spokespersons Awards is the highest honours celebrating outstanding spokespersons 

Eyiboh spokesperson
Eseme Eyiboh

in corporate communications, public affairs, politics, media, advocacy, and other domains in 

Nigeria who have demonstrated outstanding eloquence, integrity, and effectiveness in their roles 

as spokespeople. There was an eruption of ovation and a rush to join him in the podium when Eyiboh was announced as the winner. His acceptance speech on behalf of others brought to the fore his gift of the garb rendered with inexhaustible elocution.

Eyiboh dedicated the award to the President of the Senate – senator Godswill Akpabio(his boss).

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Okuama: Army Declares Professor, Lady And Six Others Wanted

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Okuama army wanted

The Nigerian Army has declared a professor and seven others including a woman wanted over the killing of its 17 officers and men in Okuama, Delta State.

GWG.ng reports that they were declared wanted over the killing of the four officers and 13 men during what was claimed to be a peacekeeping operation in Okuama.

The declaration of the suspects as wanted was made on the official twitter handle of the Nigerian Army.

The persons declared wanted were:

  • Akevwru Daniel Omotegbono
  • Professor Ekpekpo Arthur
  • Andaowei Dennis Bakriki
  • Igoli Ebi (female)
  • Akata Malawa David
  • Sinclear Oliki
  • Clement Ikolo Oghenerukevw
  • Reuben Baru.

GWG.ng reports that the decision to declare the men wanted over the Okuama killinng came after the Army buried the slain officers at the military cemetery, Abuja at an occasion attended by the top cream of the political and military brass.

At the burial ceremony on Wednesday, March 27, 2024, President Bola Tinubu bestowed national honours on all the 17 slain officers and charged the army to with precision bring the culprits to book.

The president also awarded scholarships to the children of the deceased and granted the survivors a house in any part of the country.

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Former US Vice Presidential Nominee, Joe Lieberman Is Dead

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Former United States (US) Senator and vice-presidential candidate, Joe Lieberman, has reportedly died.

GWG.ng understands that Lieberman passed away at the age of 82 due to complications from a fall.

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The family of the deceased confirmed the sad development to CBS News, describing Lieberman as a centrist who served Connecticut in the Senate for almost 25 years.

“Senator Lieberman’s love of God, his family, and America endured throughout his life of service in the public interest,” his family noted in a statement.

In 2000, Lieberman made history as the first Jewish politician to be part of a major party US presidential ticket when Al Gore chose him as his running mate. Al Gore expressed deep sorrow upon hearing the news of Lieberman’s death.

“It was an honour to stand side-by-side with him on the campaign trail.

“I’ll remain forever grateful for his tireless efforts to build a better future for America,” Gore said in a statement made available to journalists.

GWG.ng understands that the veteran politician held the position of US senator from Connecticut from 1989 to 2013. He wielded significant influence in the legislative arena and was highly valued in the nation’s capital.

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Throughout his tenure, Lieberman diverged from his party’s stance on various matters, notably the Iraq War. Despite this, he secured his last term in 2006, running as an independent candidate.

More recently, he gained recognition as the inaugural leader of No Labels, a moderate political organization that aims to introduce a third-party option for the presidential race in 2024.

“Senator Lieberman was a singular figure in American political life who always put his country before party,” No Labels said in a statement on Wednesday.

Born in Stamford, Connecticut, in 1942, Lieberman embarked on a successful political career, making his mark in state politics before ascending to the US Senate in 1989.

Throughout his tenure, Lieberman stood out as one of the most prominent Jewish politicians in the United States.

His joint campaign with Mr Gore for the White House was a significant milestone for Jewish Americans, and he openly embraced and practised his faith.

Known as a moderate Democrat, Lieberman gained a reputation in Washington for his willingness to reach across party lines, even if it meant occasionally clashing with members of his own party.

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In 2000, Mr Gore chose Lieberman as his running mate for the Democratic presidential ticket. However, their bid for the presidency ended in a highly contentious and historic election, resulting in their defeat to Republican candidates George W Bush and Dick Cheney.

By 2008, Lieberman surprised many by endorsing his close friend, Republican Senator John McCain of Arizona, for the presidency. Ultimately, McCain would lose to Barack Obama, who became America’s first black president.

During his time as a senator, Lieberman also championed several progressive policies. Notably, he played a crucial role in ending the Pentagon’s discriminatory Don’t Ask, Don’t Tell policy, which prohibited LGBTQ individuals from openly serving in the military.

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FAAN Shuts Down KFC

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The Federal Airports Authority of Nigeria (FAAN) has closed a KFC outlet at the Murtala Muhammed Airport in Lagos for violating laws protecting the rights of people with special needs.

The action was confirmed through a statement released on Thursday by FAAN’s Director of Public Affairs and Consumer Protection, Obiageli Orah.

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The official statement, titled ‘FAAN shuts down KFC outlet at MMIA,’ highlighted that the closure was in response to the outlet’s breach of the Lagos State law on People with Special Needs, specifically referencing Part C, Section 55 of the General Provisions on Discrimination.

This law prohibits discrimination against individuals based on their physical or mental disabilities.

The shutdown was prompted by a social media report from a Passenger with Reduced Mobility (PRM), who recounted experiencing discriminatory treatment at the KFC branch within the airport premises.

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This incident sparked immediate action from FAAN, reflecting the authority’s commitment to enforcing legal standards and protecting the rights of all passengers.

It read, “In line with Lagos State law on People with Special Needs, Part C, section 55 of General Provisions on Discrimination which states that “A person shall not deprive another person of access to any place, vehicle or facility that members of the public are entitled to enter or use on the basis of the disability of that person”, the management of the Federal Airports Authority of Nigeria (FAAN) has closed the KFC facility at the Murtala Muhammed International Airport in Lagos with effect from March 28, 2024.

“This is as a result of a social media report by a Passenger with Reduced Mobility (PRM), alleging discriminatory treatment he received at the Murtala Muhammed International Airport, Lagos.

“The MD/CE of FAAN, Mrs Olubunmi, Kuku intervened swiftly by deploying a management team comprising the Director, Public Affairs and Consumer Protection, Mrs Obiageli Orah; the Regional Manager South West, Mr. Sunday Ayodele; Ag. General Manager Public Affairs, Mrs Ijeoma Nwosu-Igbo and the International Terminal Manager, Mr. Kerri, to investigate the allegation.”

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FAAN said, “It is based on the findings of the team that FAAN has shut down the KFC facility at the MMA, where the incident occurred.

“The authority has instructed that the KFC Management should tender an unreserved apology, in writing, to the affected PRM and a policy statement of non-discrimination be written and pasted conspicuously at the door post of their facility at MMIA before it resumes operation.

“FAAN uses this medium to express our unreserved apology to the affected Passenger with Reduced Mobility and assures all airport users that we shall continue to work tirelessly to ensure that the rights of every passenger are not infringed upon.”

The victim of the maltreatment, Adebola Daniel, son of former Ogun State Governor, Gbenga Daniel, recounted his experience at the KFC outlet of the airport in a series of tweets posted on Wednesday via his X handle, @DebolaDaniel

Daniel, a wheelchair user, described his ordeal as “the worst sort of public humiliation” he ever had.

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Nwoko Tells Christians What To Do At Easter

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Nwoko Easter

Sen. Ned Nwoko (PDP-Delta), has urged Christians to draw spiritual inspiration from the resurrection story of Jesus Christ as they celebrate Easter.

Nwoko who represents Delta North Senatorial District, made the call in an Easter message made available to newsmen in Abuja on Wednesday.

He said that Christians should allow the symbolism of Jesus Christ’s death on the cross to reflect in them.

The senator said that Easter was a commemoration of the fulfillment of God’s Prophecy that offered the hope of  eternal life to mankind.

”This hope of eternal life is through the sacrificial death of Christ and His subsequent resurrection from the dead.

”With this faith, Christians should significantly contribute towards making the earth a better place for all of us,” he said.

Nwoko further urged Christians to use the Easter celebration to demonstrate Christ-like concern for the poor and powerless in the society.

”Let us speak up against injustice and all activities that tend to impede equal opportunities, fairness and national unity.

”It should be a season of renewal of hope and sober reflection. The season should remind us of the importance of compassion, unity, and resilience,” he said.

Nwoko urged Christians to use the period to renew their commitment to the service of the nation and to pray for peace and sustenance of national unity. (NAN)

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Okuama: Tinubu Honours Slain Heroes, Announces Special Package For Pregnant Widows

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Tinubu Okuama national honours

President Bola Tinubu has announced the award of national honours to all 17 officers and soldiers who were killed during a mission to Okuama, Delta State and packages for thier widows and children.

President Tinubu made the declaration on Friday as he attended the military burial of the slain members of the Armed Forces.

Besides the national honour, President Tinubu also declared scholarship for all children of the slain officers and men of the army. The scholarship which is to run up to the university level according to President Tinubu will also cover the unborn children of the slain men.

To make life easier for the widows and their families, the president also promised the provision of houses to the widows in any part of Nigeria.

While lauding the patriotism of the slain officers and men he declared them as national heroes who died in the defence of the fatherland.

While declaring that every effort should be made to find out the killers, he nevertheless called for restraint on the part of the army in the pursuit of the suspects.

Earlier the Chief of Army Staff, Lt Gen Taoreed Lagbaja and the Chief of Defence Staff, Lt Gen. Chris Musa had given their tributes in memory of the slain officers and men.

Nigeria’s national flags were at the ceremony distributed to the next of kin of each of the slain officers and men.

Following that the caskets of the slain officers and men were lowered into the grave.

GWG.ng reports that besides the national honours that the presence of Tinubu at the burial of the Okuama 17 is the first time in the last eight years that a sitting president would attend a military burial.

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Nigerians To Mark Tinubu’s 2024 Birthday With Public Holiday As …

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Tunji-Ojo Off your mic

Despite the well-applauded decision of President Bola Tinubu to mark his 72 birthday coming up on Friday, March 29, on a low key, the Federal Government in an unenvisaged coincidence has declared the same day a Public Holiday.

The birthday of President Tinubu falls on Good Friday which is traditionally a public holiday in Nigeria and in most parts of the world.

GWG.ng reports that Good Friday is marked around the world to celebrate the death of Jesus, The Christ.

The Federal Government has also declared Monday, April 1, 2024 as public holidays to mark Easter Monday, the day following the day of the resurrection of Jesus.

The minister of interior, Olubunmi Tunji-Ojo, made the declaration on behalf of the federal government in a statement by the Permanent Secretary of the Ministry, Aishetu Ndayako, on Wednesday.

Tunji-Ojo urged Christians and all Nigerians in general to emulate the sacrifice and love displayed by Jesus Christ in dying for the redemption of man.

The statement partly read, “Easter, beyond religious significance, promotes values of love, forgiveness, and compassion, which are essential for social cohesion and harmony.

The minister called on Christians to imbibe these virtues as they are capable of impacting positively on the socio-economic development in Nigeria by fostering unity, reducing conflicts and encouraging cooperation among Nigerians.”

He further urged Nigerians to show acts of charity and generosity to help alleviate the material conditions of the less privileged amongst them.

Tunji-Ojo added that this was in tandem with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

“While wishing Christians at home and abroad a happy and blissful Easter celebration, the Minister also called on Nigerians to join hands with President Tinubu-led Administration in its determination to bring sustainable development and usher in prosperity for all, ” the statement added.

GWG.ng reports that it would be a great irony that despite his vow to mark his birthday on a low key that fate has gifted President Tinubu a public holiday for his 72 birthday.

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