The Republics of Benin and Niger have failed to meet the conditions for the reopening of Nigeria’s land borders, according to Punch.
This was stated by Lai Mohammed, the Minister of Information and Culture when he led a government delegation to the Seme border yesterday.
The Details: Judging from the rate at which goods were smuggled and the number of illegal immigrants arrested over the last two weeks, the Minister noted that nothing was done by the neighbouring countries to address the issues that led to the closure of the borders.
Conditions for reopening of borders: The Federal Government announced five conditions that would make it reopen the borders after the closure. One of those conditions is that Nigeria would turn down imported goods repackaged by neighbouring countries and brought to Nigeria.
Another condition requires immigrants to identify themselves by providing a passport. These agreements were reached during a meeting of Inter-Ministerial Committee on the Temporary Partial Closure of Land Borders in Abuja.
Giving an account of the events that occurred during the border closure, the Information Minister said,
“Local consumption of fuel had dropped by 30% apparently due to the reduction in smuggling of petroleum products to neighbouring countries.
“The partial closure has so far curbed the smuggling of foreign rice into the country, in addition to other prohibited items. Our series of interactions and engagements with the Rice Miller Association of Nigeria since the commencement of this exercise has shown that the border closure has enhanced more production and milling of Nigerian rice.
“Patronage of Nigerian rice has increased and farmers are expanding their farms as well as engaging more hands. Furthermore, the border closure has impacted positively on revenue generation of the Federal Government which in turn will be used to build more infrastructure and develop critical sectors of the nation’s economy.
“The border exercise has also curbed diversion of petroleum products from Nigeria to neighbouring countries,” Lai explained.
In a recent Nairametrics article, it was reported that Ghanaian goods and services recorded high patronage at the last Lagos International Trade Fair despite the closure of the land borders and the disagreement between the Ghana Union of Traders Association (GUTA) and foreign traders.
According to Catherine Gordor, the Senior Export Development Officer, Research and International Cooperation of the Ghana Export Promotion Authority (GEPA), Ghanian goods recorded more patronage at the opening of the trade fair between Friday, 1st and Tuesday 5th November.
House of Reps to make Youths globally competitive
House of Representatives is determined to make the Youths globally competitive.
“Facts don’t lie, a government that has devoted N500bn to youth empowerment every year. There’s Trader Moni, N-Power, and several others, they are all there,” he added.
Gbajabiamila added that the President Muhammadu Buhari’s administration has done a lot about youth empowerment and is ready to do more.
COVID-19: Ogun orders full reopening of churches, mosques, hotels
Religious centres and other public places have been reopened following the success recorded in flattening the curve of COVID-19.
The Ogun State Government has ordered the full reopening of churches, mosques, businesses, hotels, and entertainment centres across the state.
This was disclosed by the State Governor, Dapo Abiodun, in a statement signed by his Chief Press Secretary, Kunle Somorin, via the state’s Twitter handle on Wednesday.
Abiodun stated that the religious centres and other public places had been reopened, following the success recorded in flattening the curve of COVID-19.
According to him, the government is aware that many people are just recovering from the economic hardship imposed by COVID-19, as their activities had been affected by the lockdown, while necessary measures had been put in place to combat the pandemic.
He stated, “In the process of rebuilding the economy, the State Government was irrevocably committed to the successful implementation of the “Building our Future Together” agenda, and would ensure everything possible for people to have increased prosperity that would place the State on a sound footing towards continued development.
“Government would improve on testing, just as it continues to monitor the development and not hesitate to do selective lockdown should there be any flagrant disobedience to the set COVID-19 protocols.”
COVID-19: Ogun orders full reopening of churches, mosque, hotels
Pleased with the drop of COVID-19 infections in Ogun State, @dabiodunMFR, has announced that all hotels, viewing centres, marquees, event centres, suites, guest houses, motels, and establishments providing…. pic.twitter.com/sMiUe3DUt5
— Ogun State Government – OGSG (@OGSG_Official) October 28, 2020
What you should know
Governor Abiodun had closed religious centres, businesses and schools in March, as part of moves to flatten the curve of the coronavirus.
He later announced the reopening of only worship centres and schools in August.
Abiodun pegged the number of worshippers for each service at 200, and insisted that services must not exceed one and a half hours.
CBN reveals framework for the N75 billion Youth Investment Fund
The Nigerian Youth Investment Fund will be funded through the NIRSAL MFB window of the CBN.
The Central Bank of Nigeria (CBN) has revealed the implementation framework for the Nigerian Youth Investment Fund.
This was disclosed in a publication by the Development Finance Department under the auspices of the Central Bank of Nigeria.
The CBN stated that the Nigerian Youth Investment Fund (N-YIF) would be funded through NIRSAL MFB window, with an initial take-off seed capital of N12.5 billion.
The N-YIF aims to financially empower Nigerian youths to generate at least 500,000 jobs between 2020 and 2023.
Objectives of the scheme:
Improve access to finance for youths and youth-owned enterprises for national development.
Generate much-needed employment opportunities to curb youth restiveness.
Boost the managerial capacity of the youths, and develop their potentials to become the future large corporate organizations.
Explore Data on the Nairametrics Research Website
The fund targets young people between the ages of 18 and 35 years.
Beneficiaries of NMFB, TCF and AgSMEIS loans, and other government loan schemes that remain unpaid are also not eligible to participate.
Individuals (unregistered businesses) shall be determined based on activity/nature of projects subject to the maximum of N250,000.
Registered businesses (Business name, Limited Liability, Cooperative, Commodity Association) shall be determined by activity/nature of projects subject to the maximum of N3.0 million (including working capital).
The tenor of the intervention is for a Maximum of 5 years, depending on the nature of the business and the assets acquired, of which interest rate of not more than 5% under the intervention shall be charged annually.
The Federal Ministry of Youth and Sports Development (FMYSD) will collaborate with relevant stakeholders to identify potential training for training/mentoring.
The youths that are duly screened (and undergo the mandatory training where applicable) shall be advised to login to the portal provided by the NMFB to apply for the facility.