Economy & Politics
Nigerians knock Aisha Buhari over comments on “Social Media Bill”
The controversial “Social Medial Bill” is once again trending on social media, and this time, it is due to statements credited to Aisha Buhari.
The highly controversial “Social Medial Bill” is once again trending on social media, and this time, it is due to statements credited to Nigeria’s First Lady, Aisha Buhari.
As reported by Punch, the First Lady at the Nigerian Supreme Council for Islamic Affairs General Assembly and National Executive Council in Abuja, stated that China regulated the social media of its over one billion citizens and Nigeria should be able to control its own population which is about 200 million.
Aisha’s statement reads, “On this issue of social media, you cannot just sit in the comfort of your house and tweet that the Vice President has resigned. It is a serious issue. If China can control over 1.3 billion people on social media, I see no reason why Nigeria cannot attempt controlling only 180 million people.
Aisha Buhari
Also, the First Lady Aisha Buhari slammed state governors and ministers for failing to provide basic social amenities and infrastructure, lamenting that things were getting out of hand.
“We either fasten our seatbelts, do the needful or we all regret it very soon because at the rate things are going, things are getting completely out of hand. The VP (Yemi Osinbajo) is here. Some ministers are here. They are supposed to do justice to the situation.
“People cannot afford potable water in this country while we have governors. Since this is the highest decision-making body of Islamic affairs, for those that are listening, we should fear God, and we should know that one day, we will return to God and account for our deeds here on earth.”
[READ MORE: Nigerians react to Social Media Bill, mock lawmakers over similarity with Singapore]
Meanwhile, Nigerians are not having it
Nigerians took to Twitter to heavily criticise the First Lady, describing her statement as largely unpatriotic.
According to a Twitter user, Osas Cruz, China executes its corrupt politicians, so the First Lady should advocate for that also.
@theOsasCruz wrote, “Dear…. Aisha Buhari, Now I know Buhari was Right, – Maybe you truly belong in the kitchen. China executes their corrupt politicians, let’s attempt that. Social media is not the problem of Nigeria, Corrupt politicians are the problem we have.”
Twitter user, @Zaddy_Nomso stated, “Dear Aisha Buhari China also kills their corrupt Politicians, we would love Nigeria to start practising that first. Your Aide stole over N2bn, where he saw that money only you know.”
@TosinOlugbenga tweeted; “Since the cabals threatened Aisha Buhari with marrying a new wife for Baba Buhari, the following has happened. She begged Kogi people to re-elect failed Yahaya Bello, She’s supporting the Social Media & Hate speech Bill. The cabal is so powerful, they can shut down anyone.”
Another user, @ayeMojubar says the First Lady’s speech is laughable, “If China can control over 1.3bn people on social media, I see no reason why Nigeria cannot control only 180m people” – Aisha Buhari. Is it not a miracle to see that our First Lady cannot distinguish btw Unitary / One Party State and Democratic State with all our education”
@Obi_Nwosu stated “Dear Aisha Buhari, in china, if a government official is found guilty of corruption, he/she will be shot to death and the bullet is paid for by his/her family. How about we copy this from China, not just social media control”
Another user, @Elhay16 disclosed, “One minute Aisha Buhari is acting like she’s with the masses, the next minute she’s supporting the social media bill and playing solicitor for Yahaya Bello.”
Economy & Politics
Governors to meet on Wednesday over rising insecurity
The governors of the 36 States of the federation will hold an emergency virtual meeting to discuss growing insecurity in the country.
The Nigerian Governors Forum (NGF) has announced that the Governors of the 36 States will hold an emergency virtual meeting to discuss the recent killings and kidnappings by terrorist groups, and agree on a new national security plan to secure the lives of citizens.
This was disclosed in a statement by Head, Media and Public Affairs of the NGF, Mr Abdulrazaque Bello-Barkindo, on Monday in Abuja.
(READ MORE: Labour leaders reportedly walk-out on Ministers over fuel, electricity price hike)
The NGF disclosed in its statement that the Governors would also receive updates on the events following the disbandment of the SARS alongside the rising insecurity.
Other issues that will be discussed by the Governors include:
- CACOVID funding palliatives and updates across the states.
- Joint meetings between the CBN and Kaduna State Governor, Nasir el-Rufai, on accessing pension funds to finance infrastructure development.
- Updates on the ASUU strike. Issues related to Stamp Duty and the Water Resources Bill will also be discussed at the meeting.
What you should know
There has been a rise in reported cases of kidnappings and killings by terrorists groups and bandits, especially in Northern Nigeria.
Nairametrics reported earlier that President Muhammadu Buhari had condemned the killing of farmers by Boko Haram on Saturday. The President added that the Federal Government had given the armed forces support to tackle insecurity in the country.
Economy & Politics
Emefiele tells economists to stop “overdramatizing” analysis that can create Panic
CBN has assured that the nation’s economy will emerge out of recession in the first quarter of 2021.
The Central Bank of Nigeria (CBN) has assured that the nation’s economy will grow by 2% in 2021. The apex bank is optimistic that its various intervention will make Nigeria emerge out of recession in the first quarter of 2021.
This was disclosed by the Governor, CBN, Godwin Emefiele while delivering his keynote address at the 55th Annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos on Friday.
READ: Total credit to the economy rose to N19.54trillion – CBN Governor
What he is saying
He said, “We expect that growth in 2021 would attain 2.0 percent. It is important to insulate the economy from shocks that may undermine the attainment of the projected 2.0 percent economic growth.
“However, downside risks remain, as restoration of full economic activities, particularly in service-related sectors, remains uncertain until a COVID vaccine is produced and made available to millions of people across the world.
READ: Dark Clouds loom for investors as stocks fall 8% in first half of 2020
“Second, with the significant rise in cases in advanced markets and the imposition of lockdowns in parts of Europe, concerns remain on the impact this could have on growth in advanced economies, commodity prices and the financial markets.”
He emphasized on the need to find ways to insulate the economy from the impact of these shocks through diversification efforts, while also working to ensure that the nation adheres to safety protocols in order to prevent a surge in COVID-19 related cases, as this could further cripple economic activities.
READ: CBN discloses how much has been disbursed from N50 billion COVID-19 intervention fund
Stop overdramatizing analysis
Emefiele appealed to economic analysts to stay clear from analysis that can create panic and thus hamper the economic recovery process. “When you overdramatized you create panic in the system and that slows down the process of recovery.
“Our actions in 2021 would be guided by the considerations that emerged from the Monetary Policy Committee meeting of November 23 & 24, 2020, which sought to address the major headwinds exerting downward pressure on output growth and upward pressure on domestic prices,” he added.
Mr. Emefiele has often accused “armchair” economists of making exaggerated comments when expressing their views on the economy.
Explore Data on the Nairametrics Research Website
55th Annual Bankers Dinner https://t.co/WROvaYq8Cg
— Central Bank of Nigeria (@cenbank) November 27, 2020
READ: Finance Minister gives reason FG approached China for $17 billion loan
What you need to know
On November 23, 2020, Nairametrics reported that the Minister for Finance, Budget and National Planning, Mrs. Zainab Ahmed, said the country will exit recession by the first quarter of 2021 as the government is working towards reversing the declining economic trend in the country.
- The Finance Minister said the COVID-19-induced recession followed the pattern across the world, where many countries had entered an economic recession.
READ: Nigerian economy going into recession, might contract by -8.9% – Finance Minister
Economy & Politics
Nigeria edges closer to getting World Bank loan, in the final stages of talk
The Finance Minister has disclosed that Nigeria has fulfilled the conditions and is in the last stages of securing a World Bank loan.
Nigeria is set to achieve its plans of getting the $1.5 billion World Bank loan package as it is in the closing stages of the deal following its fulfilment of the conditions set by the international multilateral organization.
This disclosure was made by the Minister for Finance, Budget and National Planning, Zainab Ahmed, during an interview on Friday, November 27, 2020, with Bloomberg Television.
While pointing out that Nigeria’s senate approved the borrowing plan from the World Bank in June, Ahmed said the board of the multilateral institution will discuss the loan package at their next meeting.
What you should know
It can be recalled that the World Bank loan which had been sought by Nigeria in the wake of the devastating impact of the coronavirus pandemic, was being delayed by the Brettonwood institution due to concerns over reforms as it feels that Nigeria has not shown enough commitment towards achieving them.
Some of the reforms include the unification and flexibility of the exchange rate, removal of fuel subsidy, increase in electricity tariffs amongst others.
However, it seems that with the recent deregulation of the downstream sector of the oil industry with the attendant removal of fuel subsidy and increase in electricity tariff, some of those concerns of the World Bank are gradually being sorted out.
Ahmed also said that Nigeria is considering joining the G-20 debt-relief initiative and is talking to commercial lenders to secure their backing.
She said, “We will consider joining as long as it is safe for us to do so. Nigeria couldn’t participate initially because some of the conditions were unfavourable for existing loan commitments with bilateral lenders and other international borrowings.”
On the increased gap between the official rate and parallel market rate, the minister said the government is concerned about the widening gap in the naira’s exchange rate on the official and parallel markets.
She said, “We have been taking measures to close the gap. We hope to get to an even level very soon so the impact of the exchange rate will become moderated.”
Ecobank Nigeria launches Smart SME Agency Banking campaign to empower small businesses
Lagos Assembly passes bill to establish Lottery and Gaming Authority
Securing your children or ward’s future through Stanbic IBTC Education Trust
GTBank, Zenith Bank, Seplat boost Nigerian stocks
Buhari approves expansion of beneficiaries of N-Power, other NSIP programmes
Daily Parallel Market Exchange Rate – ₦495/$1
Ripple opens last billion XRP for 2020, worth over $662 million
Naira stabilizes at forex markets as CBN moves to boost liquidity
FG launches One-Stop Investment Platform for renewable energy investments
34.5% decline in aviation jet fuel daily sufficiency, a worry for airline companies
