• Tuesday, November 28, 2023
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Five things to know to start your Tuesday


Nigeria needs roadmap to diversify economy – NECA

The Nigeria Employers’ Consultative Association (NECA) has advised the federal government to put more energy into developing a roadmap to diversify the economy toward non-traditional tradable goods and services.

Adewale Oyerinde, the association’s Director General, said this at a news conference in Lagos on Monday.

Oyerinde said such a roadmap would not only guarantee long-term economic stability but would also ensure sustained job creation and Foreign Exchange generation.

“Furthermore, aggressively transiting into non-oil export and exportable service activities will allow Nigeria to take advantage of the rising income elasticity of demand that derives from growing income in the world economy,” Oyerinde said.

Read also:Investing against the odds: Weighing the risks and rewards in today’s economy

NDLEA’s Tincan Command seizes cannabis indica worth N1.8billion

Mohammed Abubakar, Commander of Narcotics, the National Drug Law Enforcement Agency (NDLEA), said that the Tincan Special Area Command had confiscated 521.95 kilograms of Cannabis Indica, also known as “Colorado”, worth N1.77 billion between January and June.

Abubakar made this revelation during the 2023 International Day against drug abuse and illicit trafficking held in Lagos on Monday.

He said that seven people were arrested and prosecuted in connection with the seizure.

The commander attributed this achievement to the unwavering commitment of the command in its relentless pursuit of eliminating drug abuse from our communities.

World Bank approves fresh $500m loan for FG

The World Bank Group has approved a loan of $500 million to help Nigeria in its quest to empower women. This loan becomes the second loan the World Bank has approved under President Bola Tinubu.

A statement by the World Bank read in part, “The World Bank has approved $500 million for Nigeria for Women Program Scale Up (NFWP-SU). The scale-up financing will further support the government of Nigeria to invest in improving the livelihoods of women in Nigeria.

“The NFWP-SU will help to ensure better economic opportunities for women, which is essential for addressing gender inequality; guaranteeing better education, health, and nutrition outcomes for families; and building women’s and communities’ resilience to climate change.”

The World Bank stated that the government had to put in more effort to address issues that prevent women from reaching their full economic potentials and hinder inclusiveness.

UAE: Massive fire engulf high-rise  residential building in Ajman

A massive fire broke out in a residential building in the United Arab Emirates’ Ajman on Monday night, prompting authorities to send several fire control vehicles to douse the blaze. According to the Ajman Police, the incident took place in Tower 02 of “Ajman One Complex”.

Bharrattimes reported that the massive operation led by the fire department and local police authorities, teams of civil defense and police were able to successfully contain and extinguish the fire. At present, the police said that no one has been reported injured so far.

Director- Abdullah Saif Al Matrooshi said, “A mobile police station was brought to the accident site, providing certificates and other measures for residents to be able to report the loss of objects. The mobile station helped secure the site helped too.” Police Operation Gen of Ajman Police in a microblogging post on Tuesday.

Toronto set to elect Olivia Chow as its first Chinese-Canadian mayor-CBC News projects

CBC News projected on Monday that Olivia Chow is likely to become the first Chinese-Canadian to be elected mayor of Toronto, Canada’s biggest city.

Chow victory is based on her promise to support renters, champion social causes, and reduce the sweeping powers of her office.

The 66-year-old politician is the first woman to serve as mayor since Barbara Hall in 1997. She previously ran for mayor in 2014, when she came in third.

She drew on her record as a former member of parliament in Ottawa and as a Toronto city councillor and leaned on historic relationships established by her late husband, former New Democratic Party (NDP) and federal opposition leader Jack Layton.

She takes over as mayor after the resignation of John Tory, who won his third election last October. Tory left office in February after acknowledging he had had an affair with a staff member.