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China ‘confident’ of hitting economic goals

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Beijing has disappointed investors who were hoping for an announcement of more stimulus measures. Analysts say its 5% growth goal for 2024 is highly optimistic.

China on Tuesday expressed certainty it could meet its development goals for 2024 without another stimulus package, despite a sluggish economy.

“We are fully confident in achieving the goals of economic and societal development for the year,” said Zheng Shanjie at a news conference. Zheng is the head of China’s National Development and Reform Commission, and thus the country’s top economic planner.

“We are also fully confident in maintaining stable, healthy and sustainable development,” he added.

Zheng disappointed investors, however, by not announcing further measures to drive economic growth like he did last month.

Little optimism for property sector

China’s economy has been drastically slowing in recent years, affected by decreasing consumption, local government debt, and a major housing crisis.

Although last month’s measures were mainly targeted at making it easier for middle-class Chinese families to buy homes, analysts still believe the country’s 5% growth target is too optimistic.

Beijing’s central bank has cut interest rates on mortgages and lowered the amount of money lenders must keep on hand. However, experts have warned more substantial reforms are needed if China wants to boost its property sector following the downfall of development firms like Evergrande.

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Otti orders investigation as Fire Service officials switch off phones during fire disaster in Aba

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Governor Alex Otti of Abia State has directed his Senior Special Assistant on Homeland Security to carry out an investigation to find out what actually led to the inferno that engulfed a two-storey building at 73 Lagos Street Aba, this week.

This is as he expressed dismay that the phone numbers of Fire Service officials in Aba were reportedly switched off when the fire was ravaging the building.

Otti, who paid a visit to the victims on Friday, commiserated with them and promised that his administration would assist them and provide temporary accommodations for them.

He thanked God that no life was lost and stressed the need for every household to have a fire extinguisher, and directed that henceforth, there is going to be enforcement of compulsory fire extinguisher in all households.

He directed that a thorough investigation should be conducted to ascertain why the phone numbers were off during such an emergency and to determine if the inferno was natural or the carelessness of the occupants.

“It’s quite unfortunate that the fire service could not come on time, normally they arrive within ten minutes and I am surprised the way this one turned out.

“I have directed them to do a thorough investigation to ascertain why the phone numbers of fire service officers were off during the fire outbreak.

“I need to get a report about the fire service officers and why their phones were put off and this whole place burnt down completely,” Otti fumed.

Narrating their ordeals, the landlord of the building, Mr. Vincent Uzuegbu, his family and a tenant in the building, Mr. Obinna Obi and his wife, said that they were asleep when the fire started, adding that they lost everything.

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Supreme Court: Abure’s sack will restore peace, order in LP – Otti

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Governor Alex Otti of Abia State says the Supreme Court judgement on Friday, which sacked the Julius Abure- led National Working Committee of Labour Party, LP, will pave the way for the return of peace, unity and order in the party.

Otti, who was reacting to the Court ruling, said the leadership of the party has been vindicated.

According to him, the tenure of the Abure-led National Working Committee had long expired which informed the decision to set up the National Caretaker Committee led by Esther Nenadi Usman as Chairman and Darlington Nwokocha as secretary.

Governor Otti added that the vision behind the setting up of the committee was to foster peace and unity, while strengthening the party to consolidate on the gains made in the last election.

Governor Otti commended the Supreme Court for its sound judgement, which he said met the popular expectations of genuine Labour Party members in particular, and Nigerians in general and thanked those who kept faith while the battle for the soul of the party lasted.

Otti further invited the former national officers of the party to join hands with the National Executive Committee, NEC and the National Caretaker Committee, NCC, of the party to move the party forward, assuring that he and other leaders of the party were committed to building an all-inclusive party devoid of discrimination and favoritism.

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Anambra 2025: Defections Rocks APC as Party Heavyweights Quit Guber Race

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Ahead of tomorrow’s Gubernatorial primary elections, the All Progressives Congress (APC) may be facing serious internal crisis after two front line aspirants announced their withdrawal from the race.

In separate letters, Sir Paul Chukwuma and Hon Chuma Umeoji both announced their decision to step away from the race.

They both cited personal reasons for their decision.

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