Business News
FG working out plans to stabilize revenue – Zainab Ahmed
The Minister said the government revenue will be stabilized to restore adequate fiscal space.
The Minister of Finance, Mrs. Zainab Ahmed, declared that the present administration, in a bid to set the economy on the path of growth and economic sustainability is working out plans to stabilize revenue.
This statement is contained in her Independence Day message to Nigerians, which was released to the mainstream via her official Twitter handle, to commemorate the Independence Day celebrations.
READ: COVID-19 boosts Fidson Healthcare Plc’s Q2 2020 performance
Mrs. Zainab Ahmed emphasized that the present administration is working out ways and means in which government revenue will be stabilized to restore adequate fiscal space, in a bid to fund the Federal Government and the States through the Federation Account Allocation Committee (FAAC).
The Minister stated that in line with the president’s mandate, a committee was set-up to ensure that the business of the government continues to run as normally as possible, with government agencies considerably funded.
(READ MORE:FAAC disagrees over revenue allocation for FG, States, LGs)
However, Mrs. Ahmed noted that the COVID-19 pandemic has slowed economic activities and growth, and this continues to mount pressure on output across various sectors of the economy, she emphasized that the present administration is committed to providing critical infrastructures and enhancing inclusive growth through policies, programmes and projects that will stimulate job creation in the country.
She said, “Despite the challenges of COVID-19, the government has continued to invest in critical infrastructures like roads, rail and electric power to ensure continuous growth hinged on programmes and projects that will enhance employment of large percentage of our youth.”
READ: Is Zenith Bank thriving on the strength of sound financial indices?
In like manner, Mrs. Ahmed addressed the sentiments regarding the recent restrictions and the policy decisions of the government in her Independence Day address. She reiterated that the unexpected public health emergency caused by the COVID-19, coupled with the drop in oil revenue from the ebbing economic activity made the government to take difficult decisions, in a bid to keep the economy afloat at a critical time as this.
As the journey has been a mixture of challenges and successes, she remarked that despite the challenges, there are myriads of opportunities ahead of the nation.
READ: How foreign exchange risks and others affect the Nigerian pension industry
She admonished that Nigeria belongs to all of us, and we have to appreciate our differences and forge ahead to build a united prosperous nation.
Economy & Politics
Breaking: Senatorial, State House of Assembly bye-elections postponed – INEC
Senatorial and State House of Assembly bye-elections slated to hold on October 31 in 11 states have been postponed by INEC.
The 6 Senatorial and 9 State House of Assembly bye-elections slated to hold on October 31 in 11 states of the Federation has been postponed by the Independent National Electoral Commission (INEC). The vacancies were as a result of death and resignation of previous members.
According to the statement issued by its National Commissioner & Chairman, Information and Voter Education, Festus Okoye Esq., INEC said the decision was taken after meeting with the 37 Resident Electoral Commissioners (RECs) on Thursday.
Breaking News: #INEC Postpones Bye Elections in 6 Senatorial Districts, 9 State Constituencies. pic.twitter.com/RWiUomBsC6
— INEC Nigeria (@inecnigeria) October 22, 2020
Though the commission did not categorically state the reason for the postponement, feelers are that it may not be unconnected with the raging #EndSARS protests across the nation.
Details shortly…
ENDSARS
#EndSARS: President Buhari issues stern warning to hoodlums
The President has issued a warning to hoodlums who have hijacked the #EndSARS protest to promote unrest.
President Buhari, in his state of the Nation address to Nigerians this evening has warned hoodlums and the conflict entrepreneurs who have hijacked the #EndSARS protest to promote unrest.
The President explained that the choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of the Constitution and other enactments.
“I must warn those who have hijacked and misdirected the initial, genuine and well-intended protest of some of our youths in parts of the country, against the excesses of some members of the now-disbanded Special Anti-Robbery Squad (SARS),” he said.
President Muhammad Buhari frowned against the desperate and inhumane actions of mobsters, arsonists and hoodlums which has led to the loss of human lives, sexual violence, attacks on correctional facilities, as well as public and private properties which were completely destroyed or vandalized.
He explained that these bad actions will not be tolerated, as it is not in line with the legitimate expression of grievance of the youth of the country. He reiterated that the Government shall continue to ensure that liberty and freedom, as well as the fundamental rights of all citizens, are protected.
What you should know from the President’s State of the Nation address
The President reiterated that the government has the obligation to protect lives and properties, and ensure that the citizens go about their daily businesses freely and protected from acts of violence.
However, he appealed to protesters to note and take advantage of the various well-thought-out initiatives of this administration designed to make their lives better and more meaningful, and resist the temptation of being used by some subversive elements to cause chaos with the aim of truncating our nascent democracy.
The President, however, warned the youth that doing otherwise will amount to undermining national security as well as law and order, which under no circumstances will be tolerated.
President Buhari thus called on the youths to discontinue the street protests and constructively engage the government in finding solutions, as their voices have been heard loud and clear.
ENDSARS
#EndSARS: President Buhari tells Youths to discontinue street protests
The President has advised the protesters to discontinue the street protests, but rather, engage the government in finding solutions.
President Muhammadu Buhari has called on the #EndSARS protesters to discontinue their street protests and rather constructively engage the government in finding solutions.
The President disclosed this during his national broadcast on Thursday.
He said, “I call on our youths to discontinue the street protests and constructively engage government in finding solutions. Your voice has been heard loud and clear and we are responding.
“The choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of our Constitution and other enactments; but this right to protest also imposes on the demonstrators the responsibility to respect the rights of other citizens, and the necessity to operate within the law.
“And I call on all Nigerians to go about their normal businesses, and enjoin security agencies to protect lives and properties of all law-abiding citizens without doing harm to those they are meant to protect.”
The choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of our Constitution and other enactments; …
— Muhammadu Buhari (@MBuhari) October 22, 2020
Breaking: Senatorial, State House of Assembly bye-elections postponed – INEC
#EndSARS: President Buhari issues stern warning to hoodlums
#EndSARS: President Buhari tells Youths to discontinue street protests
#EndSARS: President Buhari asks international community not to make hasty decisions on developments
Breaking: Some Nigerians mistook promptness of FG response as sign of weakness – Buhari
COVID-19 Update in Nigeria
Daily Parallel Market Exchange Rate – ₦461/$1
#EndSARS: Tinubu says he has no investment in LCC, collects no dime from Lekki Tollgate
BRT owners, Primero says they lost N100 million to #ENDSARS violence
Sanwoolu says curfew may be partially lifted
