• Wednesday, November 29, 2023
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Five things to know to start your Tuesday


Katsina govt. seeks AfDB’s support on agriculture, renewable energy

Governor Dikko Radda of Katsina, is seeking the support of the African Development Bank (AfDB) to develop the abundant agricultural and renewable energy resources in the State.

The governor, in a statement signed by his Chief Press Secretary, Kaula Ibrahim, sought the bank’s support when he visited the Director-General, AfDB Nigeria Country Department, Lamin Barrow, in Abuja.

According to the governor, the purpose of the visit is to discuss investment and intervention support to boost job creation and enhance the livelihoods of the people of Katsina State, as well as the North West Geo-political zone, which comprises Jigawa, Kaduna, Kano, Katsina, Kebbi, Sokoto, and Zamfara states.

“We particularly need the Bank’s help to address the State’s infrastructural deficit, such as power.

”Also, we recognise the fact that renewable energy remains a critical infrastructure necessary for achieving higher economic growth in Katsina state, and across the North West geo-political region.

”That is what necessitated my visit to the Nigeria Country Office of the AfDB, to seek their support and strengthen the existing partnership,” he said.

The truth is that subsidy has been reduced — Bismarck Rewane

Bismarck Rewane, a Nigerian economist and member of the Nigerian Economic Advisory Council that acted in an advisory capacity to the government of former President Muhammadu Buhari, has insisted that the fuel subsidy removed by President Bola Tinubu has not been removed but only reduced.

Speaking on Channels Television’s 2023 Democracy Day programme aired on Monday to discuss Nigeria’s growing democracy, Rewane explained that what the current government actually did was reduce subsidy.

He insisted that if the subsidy was removed, the price of fuel would be a lot higher than what it is today, especially with the Nigerian National Petroleum Corporation (NNPC) Limited selling within a band limit of between N488 and N568.

“The truth is that subsidy have been reduced,” Rewane said. “If the subsidy has been removed, then the price of PMS as you see it today will be much higher than what it is.”

Read more: The truth is that subsidy has been reduced — Bismarck Rewane

Nigerians react to viral video of Senator Bulkachuwa’s bragging about his influence on wife’s court’s judgements

Nigerians from all shades of life have been reacting to a viral video of retired Senator Ahmed Muhammad Bulkachuwa’s bragging about how he influenced the judgements of his wife, Justice Zainab Bulkachuwa (Rtd.) when she was the president of the Court of Appeal.

In a valedictory service for outgoing senators of the 9th National Assembly, chaired by Ahmed Lawan, Senate President, on Monday, Senator Bulkachuwa, representing Bauchi North senatorial district, gave a rather disturbing revelation about how he used his influence to prevail over his wife, Rtd. Justice Bulkachuwa, to give judgement in his favour or those that serve the interests of his friends.

In the video, Senator Bulkachuwa, who retires from the Senate after clocking the mandatory age of 70, was bragging about how he dictated judgements for his wife, something that he was proud of.

The video of his confession has since gone viral on Twitter, gathering as many as 5,000 likes, 7,300 retweets, and 1,400 comments.

Justice Bulkachuwa (Rtd.) the first female president of the Court of Appeal, played an integral role in choosing members of the election tribunal to handle post-election cases.

“Particularly my wife, whose freedom and independence I encroached upon while she was in office, and she has been very tolerant and accepted my encroachment and extended her help to my colleagues,” Senator Bulkachuwa said.

NGO calls for more participation in Micro Pension Plan

The Contributory Pension and Happy Retirement Advocacy (COPEHRA), a Non-Governmental Organization (NGO), has called for more participation in Micro Pension Plan (MPP).

A board member in the NGO, Sani Mustapha, said this in an interview with the News Agency of Nigeria (NAN) on Sunday.

He said that the MPP has a lot to offer the economy and the country in terms of investible long term funds and deepening the financial inclusion.

“MPP is an opportunity for workers who are mainly under the informal sector to save for their retirement.

“It is also for persons working in organisations with less than three employees, and the minimum age to start the contribution is 18 years.

“The MPP has many benefits which include opportunity to make withdrawal prior to retirement,” he said.

Mustapha said available record shows that MPP has over 95,000 participants registered now and has generated N435.61 million.

China’s central bank cuts short-term borrowing cost for first time since Aug

China’s central bank lowered a short-term lending rate for the first time in 10 months on Tuesday, in a bid to restore market confidence and prop up a stalling post-pandemic recovery in the world’s second-largest economy.

Recent economic data has shown subdued demand and weaker investor sentiment, raising excpetations that authorities will ease monetary policy to sustain growth.

The People’s Bank of China (PBOC) cut its seven-day reverse repo rate by 10 basis points to 1.90 percent from 2.00 percent on Tuesday, when it injected 2 billion yuan ($279.97 million) through the short-term bond instrument. (Reuters)