Today is a day of celebration and solemn reflection. It is the anniversary of the day Nigerians realised one of the most cherished of human desires – the desire for freedom. We, therefore, give thanks to and remember our founding fathers who laboured so hard and sacrificed so much to build and bequeath to us this wonderful nation. It is our duty to consolidate this great legacy.
- On this first October date and on the eve of the start of the general election cycle, we should do well to reflect on what binds us together and the great strength our diversity bestows on us. Ours is an ambitious nation, and, as citizens we have every right to look forward to the future with confidence and optimism which are well founded, considering where we find ourselves today.
There has been a steady improvement in the security situation in the North East. We remain committed to ending the crisis and make the North East safe for all.
Our thoughts and prayers are always with the victims of the Boko Haram’s atrocities and their families. Beyond that, we know that the goals of the Boko Haram terrorists include capturing territories, destroying our democracy and denying our children the right to education. We will not allow them to succeed.
I want at this point to pay tribute to the men and women of our armed forces, the Police and other security and law enforcement agencies, who have been working under the most difficult conditions to keep the country safe. In the process, many have made the supreme sacrifice.
As their Commander -In- Chief, I assure these our gallant men and women that I will continue to empower them by deepening their professionalism and providing all the necessary force multipliers and enablers required for them to prevail on the field. I am looking into all reported cases of inadequacies in relation to their entitlements, their welfare and those of their families.
We are diversifying away from reliance on oil to increased manufacturing capacity, solid minerals development, and agriculture.
Efforts are on course in the Niger Delta to clean up polluted lands, restore hopes of the youths in the region and re-establish livelihoods, and strengthen their capacity to guarantee for themselves and for our country a brighter future.
The age-long conflict between herders and farmers that was being exploited by those seeking to plant the seeds of discord and disunity amongst our people, is being addressed decisively. We will sustain and continue to support the commendable efforts by all including civil society organisations, local and states governments and our traditional and religious leaders in finding durable solution to this problem.
This being a transhumance issue, we are working with countries in our region that are also facing similar difficulties to complement our common efforts. In this context I must warn that the perpetrators of murder and general mayhem in the name of defending or protecting herders or farmers will face the full wrath of the law. Meanwhile, we urge all peace loving Nigerians to reject any simplistic portrayal, at home or abroad, of this conflict as either religious or ethnic based.
We are one of the countries in the world most affected by environmental degradation, as a consequence of climate change. We are signatories to almost all conventions and agreements aimed at slowing down the effect of climate change and mitigating its now evident consequences.
The consequences on lives and livelihoods of the shrinking of the Lake Chad and the pollution caused by oil exploitation activities alone make it mandatory on us to be at the forefront of the struggle for a safer and more sustainable environment. We will continue to mobilise international support for our efforts in this regard.
We are making progress in the fight against corruption and recovery of stolen public funds and assets despite vicious and stiff resistance. The shameful past practice, of the brazen theft of billions of Naira is no more. Shady oil deals and public contracts that were never delivered have become things of the past.
Consequently, and this is very evident across the country, we have done more with less in infrastructural developments. Roads, railways, major bridges, schools, energy and power, air and sea ports, welfare of serving and retired personnel both civilian and military including payment of legacy debt such as pension arrears, have been attended to.
There is now an enabling environment for local and foreign investment in Nigeria. We are building a rules-based system – a level playing field that is free from fixers and intermediaries. This is the cornerstone to help genuine investors and honest consumers, and the platform that will allow for the real reforms that we intend to deliver over the coming years.
We are gradually strengthening the economy with a stable Naira and falling inflation rate. We are building an economy that is moving away from over reliance on oil. Consequently we have witnessed massive return to farms and seen bumper harvest, despite recurrent floods across the country.
These positive developments are the result of our collective pursuit of a common vision through hard work and dedication, after the missed opportunities and disappointments that followed the return to democracy in 1999.
At the forefront, have always been our youths. They have been at the vanguard of the struggle for independence. They fought in the war to keep the country united. And it was they who kept alive the struggle for democracy and human rights in our country at times when these were at risk, especially following the June 12th 1993 election and the historic 2015 election process.
Even today, our youths play a central role in Nigeria’s continuing progress and developments in all fields of our national endeavour –technology, agriculture, mining, engineering and especially the creative arts. Together we are building a more diverse, inclusive and self-reliant economy.
In the past three years we have introduced many policies and programmes targeted at youth development and youth empowerment. We support the ‘not too young to run’ legislation aimed at giving the youths greater say in our national politics and governance.
The school feeding program in primary schools is aimed at encouraging enrolment and attendance. We are building on what we have already introduced to support schools and universities to which funds have recently been released for upgrade of facilities, training programs for our entrepreneurs, and rehabilitation schemes for victims of terrorism and human trafficking.
- Now we have in our hands technology that is a powerful tool that we can and should use for knowledge and understanding. As with other countries, we must also learn how to manage those tendencies that, instead, look to abuse new technologies to provoke passions and stir tensions.
Never before have we faced such a challenge. We must all rise to the responsibility of shutting out those disruptive and corrosive forces that hide in today’s world of social media. We need critical minds and independent thinking, to question and question until we are satisfied we have the facts. Otherwise, all the progress we have made as a democracy since 1999 is at stake.
I have committed myself many times to ensure that elections are fully participatory, free and fair and that the Independent National Electoral Commission will be exactly INDEPENDENT and properly staffed and resourced. The ballot box is how we make our choice for the governments that rule in our name.
- Developing a thriving democracy is not an easy task. There can be no quick fixes or short cuts. These are the most important lessons that we have learnt in our 58 years as an independent nation.
At the international level, we remain a responsible and respected member of the international community, playing active positive roles within ECOWAS, the African Union and the United Nations as well as all other regional and international organisations and institutions of which we are members.
27. We will continue to support initiatives aimed at addressing the challenges of our times: global and regional crises and conflicts, terrorism, trans-border crime, climate change, human rights, gender equality, development, poverty and inequality within and between nations, etc. In this context, we are working hard to achieve both the AU 2063 Agenda for socio-economic transformation of our continent; and the UN 2030 Agenda for sustainable development, which together aim at addressing these challenges
28. As we celebrate the 58th Anniversary of our independence, we know we are on the right path. Although we have our differences, they count for far less than the values, virtues and common aspirations that unite us as a nation. We have so much for which we should be grateful, and in which we should rightly take pride. Our journey is not finished but we have come a long way.
29. I want to assure you that as President, I will continue to work tirelessly to promote, protect and preserve what really matters: a united, peaceful, prosperous and secure Nigeria, where all, irrespective of background, can aspire to succeed.
Thank you. I wish you a memorable independence celebration.
COVID-19 Update in Nigeria
On the 15th of July 2020, 643 new confirmed cases and 6 deaths were recorded in Nigeria.
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increase as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 34,259 confirmed cases.
On the 15th of July 2020, 643 new confirmed cases and 6 deaths were recorded in Nigeria, having carried out a total daily test of 12,707 samples across the country.
To date, 34,259 cases have been confirmed, 13,999 cases have been discharged and 760 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 199,016 tests have been carried out as of July 15th, 2020 compared to 186,309 tests a day earlier.
COVID-19 Case Updates- 15th July 2020,
- Total Number of Cases – 34,259
- Total Number Discharged – 13,999
- Total Deaths – 760
- Total Tests Carried out – 199,016
According to the NCDC, the 643 new cases were reported from 19 states- Lagos (230), Oyo (69), FCT (51), Edo (43), Osun (35), Rivers (30), Ebonyi (30), Kaduna (28), Ogun (27), Ondo (23), Plateau (20), Benue (17), Enugu (16), Imo (10), Delta (6), Kano (4), Nasarawa (2), Kebbi (1), Ekiti (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 12,941, followed by Abuja (2,738), Oyo (1,951), Edo (1,850), Rivers (1,427), Delta (1,398), Kano (1,318), Ogun (1,132), Kaduna (1,067), Ondo (770), Katsina (669), Ebonyi (646), Borno (593), Plateau (591), Gombe (533), Enugu (531), Bauchi (521), Kwara (422), Abia (413), Imo (409).
Jigawa state has recorded 321 cases, Bayelsa (318), Osun (311), Nasarawa (254), Sokoto (153), Akwa Ibom and Niger (145), Benue (143), Adamawa (110), Anambra (101), Kebbi (88), Zamfara (76), Ekiti (67), Yobe (62), Taraba (30), Cross River (10) while Kogi state has recorded 5 cases only.
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020.
|Date||Confirmed case||New cases||Total deaths||New deaths||Total recovery||Active cases||Critical cases|
|July 15, 2020||34259||643||760||6||13999||19500||7|
|July 14, 2020||33616||463||754||10||13792||19070||7|
|July 13, 2020||33153||595||744||4||13671||18738||7|
|July 12, 2020||32558||571||740||16||13447||18371||7|
|July 11, 2020||31987||664||724||15||13103||18160||7|
|July 10, 2020||31323||575||709||20||12795||17819||7|
|July 9, 2020||30748||499||689||5||12546||17513||7|
|July 8, 2020||30249||460||684||15||12373||17192||7|
|July 7, 2020||29789||503||669||15||12108||17012||7|
|July 6, 2020||29286||575||654||9||11828||16804||7|
|July 5, 2020||28711||544||645||11||11665||16401||7|
|July 4, 2020||28167||603||634||6||11462||16071||7|
|July 3, 2020||27564||454||628||12||11069||15867||7|
|July 2, 2020||27110||626||616||13||10801||15693||7|
|July 1, 2020||26484||790||603||13||10152||15729||7|
|June 30, 2020||25694||561||590||17||9746||15358||7|
|June 29, 2020||25133||566||573||8||9402||15158||7|
|June 28, 2020||24867||490||565||7||9007||14995||7|
|June 27, 2020||24077||779||558||4||8625||14894||7|
|June 26, 2020||23298||684||554||5||8253||14491||7|
|June 25, 2020||22614||594||549||7||7822||14243||7|
|June 24, 2020||22020||649||542||9||7613||13865||7|
|June 23, 2020||21371||452||533||8||7338||13500||7|
|June 22, 2020||20919||675||525||7||7109||13285||7|
|June 21, 2020||20242||436||518||12||6879||12847||7|
|June 20, 2020||19808||661||506||19||6718||12584||7|
|June 19, 2020||19147||667||487||12||6581||12079||7|
|June 18, 2020||18480||745||475||6||6307||11698||7|
|June 17, 2020||17735||587||469||14||5967||11299||7|
|June 16, 2020||17148||490||455||31||5623||11070||7|
|June 15, 2020||16658||573||424||4||5349||10885||7|
|June 14, 2020||16085||403||420||13||5220||10445||7|
|June 13, 2020||15682||501||407||8||5101||10174||7|
|June 12, 2020||15181||627||399||12||4891||9891||7|
|June 11, 2020||14554||681||387||5||4494||9673||7|
|June 10, 2020||13873||409||382||17||4351||9140||7|
|June 9, 2020||13464||663||365||4||4206||8893||7|
|June 8, 2020||12801||315||361||7||4040||8400||7|
|June 7, 2020||12486||260||354||12||3959||8173||7|
|June 6, 2020||12233||389||342||9||3826||8065||7|
|June 5, 2020||11844||328||333||10||3696||7815||7|
|June 4, 2020||11516||350||323||8||3535||7646||7|
|June 3, 2020||11166||348||315||1||3329||7522||7|
|June 2, 2020||10819||241||314||15||3239||7266||7|
|June 1, 2020||10578||416||299||12||3122||7157||9|
|May 31, 2020||10162||307||287||14||3007||6868||7|
|May 30, 2020||9855||553||273||12||2856||6726||7|
|May 29, 2020||9302||387||261||2||2697||6344||7|
|May 28, 2020||8915||182||259||5||2592||6064||7|
|May 27, 2020||8733||389||254||5||2501||5978||7|
|May 26, 2020||8344||276||249||16||2385||5710||7|
|May 25, 2020||8068||229||233||7||2311||5524||7|
|May 24, 2020||7839||313||226||5||2263||5360||7|
|May 23, 2020||7526||265||221||0||2174||5131||7|
|May 22, 2020||7261||245||221||10||2007||5033||7|
|May 21, 2020||7016||339||211||11||1907||4898||7|
|May 20, 2020||6677||284||200||8||1840||4637||7|
|May 19, 2020||6401||226||192||1||1734||4475||7|
|May 18, 2020||6175||216||191||9||1644||4340||7|
|May 17, 2020||5959||388||182||6||1594||4183||7|
|May 16, 2020||5621||176||176||5||1472||3973||7|
|May 15, 2020||5445||288||171||3||1320||3954||4|
|May 14, 2020||5162||193||168||3||1180||3815||4|
|May 13, 2020||4971||184||164||6||1070||3737||4|
|May 12, 2020||4787||146||158||6||959||3670||4|
|May 11, 2020||4641||242||152||10||902||3589||4|
|May 10, 2020||4399||248||142||17||778||3479||4|
|May 9, 2020||4151||239||127||11||745||3278||4|
|May 8, 2020||3912||386||118||10||679||3115||4|
|May 7, 2020||3526||381||108||4||601||2818||4|
|May 6, 2020||3145||195||104||5||534||2507||1|
|May 5, 2020||2950||148||99||5||481||2370||4|
|May 4, 2020||2802||245||94||6||417||2291||2|
|May 3, 2020||2558||170||88||2||400||2070||2|
|May 2, 2020||2388||220||86||17||351||1952||2|
|May 1, 2020||2170||238||69||10||351||1751||2|
|April 30, 2020||1932||204||59||7||317||1556||2|
|April 29, 2020||1728||196||52||7||307||1369||2|
|April 28, 2020||1532||195||45||4||255||1232||2|
|April 27, 2020||1337||64||41||0||255||994||2|
|April 26, 2020||1273||91||41||5||239||994||2|
|April 25, 2020||1182||87||36||3||222||925||2|
|April 24, 2020||1095||114||33||1||208||855||2|
|April 23, 2020||981||108||32||3||197||753||2|
|April 22, 2020||873||91||29||3||197||648||2|
|April 21, 2020||782||117||26||3||197||560||2|
|April 20, 2020||665||38||23||1||188||466||2|
|April 19, 2020||627||86||22||2||170||436||2|
|April 18, 2020||541||48||20||2||166||356||2|
|April 17, 2020||493||51||18||4||159||317||2|
|April 16, 2020||442||35||13||1||152||277||2|
|April 15, 2020||407||34||12||1||128||267||2|
|April 14, 2020||373||30||11||1||99||263||2|
|April 13, 2020||343||20||10||0||91||242||2|
|April 12, 2020||323||5||10||0||85||228||2|
|April 11, 2020||318||13||10||3||70||238||2|
|April 10, 2020||305||17||7||0||58||240||2|
|April 9, 2020||288||14||7||1||51||230||2|
|April 8, 2020||274||22||6||0||44||226||2|
|April 7, 2020||254||16||6||1||44||204||2|
|April 6, 2020||238||6||5||0||35||198||2|
|April 5, 2020||232||18||5||1||33||194||2|
|April 4, 2020||214||5||4||0||25||185||0|
|April 3, 2020||209||25||4||2||25||180||0|
|April 2, 2020||184||10||2||0||20||162||0|
|April 1, 2020||174||35||2||0||9||163||0|
|March 31, 2020||139||8||2||0||9||128||0|
|March 30, 2020||131||20||2||1||8||121||0|
|March 29, 2020||111||22||1||0||3||107||0|
|March 28, 2020||89||19||1||0||3||85||0|
|March 27, 2020||70||5||1||0||3||66||0|
|March 26, 2020||65||14||1||0||2||62||0|
|March 25, 2020||51||7||1||0||2||48||0|
|March 24, 2020||44||4||1||0||2||41||0|
|March 23, 2020||40||10||1||1||2||37||0|
|March 22, 2020||30||8||0||0||2||28||0|
|March 21, 2020||22||10||0||0||1||21||0|
|March 20, 2020||12||4||0||0||1||11||0|
|March 19, 2020||8||0||0||0||1||7||0|
|March 18, 2020||8||5||0||0||1||7||0|
|March 17, 2020||3||1||0||0||0||3||0|
|March 16, 2020||2||0||0||0||0||2||0|
|March 15, 2020||2||0||0||0||0||2||0|
|March 14, 2020||2||0||0||0||0||2||0|
|March 13, 2020||2||0||0||0||0||2||0|
|March 12, 2020||2||0||0||0||0||2||0|
|March 11, 2020||2||0||0||0||0||2||0|
|March 10, 2020||2||0||0||0||0||2||0|
|March 9, 2020||2||1||0||0||0||2||0|
|March 8, 2020||1||0||0||0||0||1||0|
|March 7, 2020||1||0||0||0||0||1||0|
|March 6, 2020||1||0||0||0||0||1||0|
|March 5, 2020||1||0||0||0||0||1||0|
|March 4, 2020||1||0||0||0||0||1||0|
|March 3, 2020||1||0||0||0||0||1||0|
|March 2, 2020||1||0||0||0||0||1||0|
|March 1, 2020||1||0||0||0||0||1||0|
|February 29, 2020||1||0||0||0||0||1||0|
|February 28, 2020||1||1||0||0||0||1||0|
Nigerian Real Estate and COVID in 19 Slides
Validate investment cases and focus energies on property sectors that are more resistant to shocks.
Nigeria is rapidly approaching an economic crisis as the COVID-19 global pandemic has put the world on lockdown and sent Brent crude oil prices to a 20-year low. Spurred by lower global demand and reliance on oil exports for 90% of its foreign exchange income, Nigeria’s economy and her fragile currency are being pushed to their breaking point.
In this report, we will focus on the impact this pandemic will have on the real estate market in Nigeria. So far, key themes include mass concessions, re-negotiation and restructuring activity, slowed decision making, stretched out project deliveries due to the lockdown and more. After outlining the potential property sector losers, hospitality and retail most especially, alongside potential winners (industrial and healthcare), we discuss the impact of the COVID-19 pandemic on individual property sectors and the direction of rentals, capital markets and more.
Within this uncertain environment, we recommend that market participants including asset owners, real estate service providers and others stress test their businesses at varying levels of reduced income, use the downtime for market research to validate investment cases and focus energies on property sectors that are more resistant to shocks.
Download the report through the link in the header.
IMF appoints Ceda Ogada as new director and secretary of the fund
Before joining the IMF, Ogada worked at the United Nations Conference on Trade and Development.
The International Monetary fund (IMF) has announced the appointment of Mr. Ceda Ogada as the Secretary of the Fund and Director of the Secretary’s Department with effect from September 1, 2020, following the retirement of the former Secretary, Mr Jianhai Lin.
This was disclosed in a press statement by IMF on Wednesday, July 15, 2020.
While making the announcement, Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), said, “Ceda has outstanding institutional knowledge, strategic and intellectual heft, and people leadership. His unparalleled ability to bring people together, combined with his profound appreciation of the Fund’s institutional history and legal principles, as well as a strong service orientation, will help the Fund to even more effectively serve our member countries in a very challenging economic environment.”
Mr. Ogada joined the IMF’s Legal Department in 1999 and rose through the ranks to become Deputy General Counsel in 2014. During this time, he has worked on virtually all aspects of the Fund’s work, including advising on the governance of the Fund, on country operations, helping to develop Fund policies and implementation guidance, and providing technical assistance to member countries.
According to the statement, ‘’Some of the key projects that he has worked on include the Fund’s enhanced policy to address governance and corruption issues, ensuring the adequacy of the Fund’s lending resources, reforms in lending policy such as the establishment of the Flexible Credit Line (FCL) and the Catastrophe Containment and Relief Trust (CCRT), reviews on surveillance policy and capacity development strategy and transparency, archives and communications policies.’’
The new Secretary of the fund was heavily involved in the work on euro area crisis countries during the global financial crisis. Recently, he has led the Legal Department in promoting good governance and transparency in several countries, together with the use of emergency financing for the COVID-19 crisis.
Before he joined IMF, Mr. Ogada worked at the United Nations Conference on Trade and Development as a legal expert and also before that he was in private legal practice in the United States. He holds a Juris Doctor from Harvard Law School and a B.A. in history from Dartmouth College. Mr. Ogada is a citizen of Kenya.