Connect with us

Politics

Tinubu’s economic reforms are yielding fruits- Minister of Information, Mohammed Idris, says

Published

on

Minister of Information and National Orientation, Mohammed Idris
Spread the love

The Federal Government says the economic reforms of President Tinubu are yielding results. In a statement released on Friday February 23, the Minister of Information and National Orientation, Mohammed Idris, said reforms such as the removal of fuel subsidy as well as the unification of the foreign exchange rate are yielding results.

 

He pointed out that the removal of fuel subsidy has led to the drop of petrol importation by fifty percent. He also mentioned that following the removal of fuel subsidy, monthly receipts by States from the Federal Accounts Allocation Committee (FAAC) have surged, giving governments at all levels billions of Naira in extra headroom to deliver the dividends of democracy to Nigerians.

 

‘’It is heartwarming to note that we are starting to see the results. Indeed, the naira is stabilizing, and the foreign exchange market is seeing a surge of inflows. The latest NBS figures show that capital importation into Nigeria rose by over 66 percent in Q4 2023, compared with the preceding quarter. The CBN Governor has also highlighted the fact that $1.8 billion flowed into the forex market last week, on the back of the new reforms.”

Idris pointed out that sadly, as with any effort to reform and sanitise a system entrenched in long-term malpractice, the CBN’s efforts have been met with ferocious resistance from speculators and other unscrupulous players within and outside the country, who profit from dysfunction and opacity.

‘’To tackle this, regulatory and enforcement agencies of government have been working round the clock in the past few days, joining forces to address these efforts at undermining the reforms. That strategic alliance has led to the intelligence-led identification, investigation and sanctioning of individuals and organizations involved in illegal activities and sabotage within the forex market.

Relevant regulatory and security agencies have been directed to remain vigilant to ensure that malpractices capable of undermining our currency are averted and that those engaged in these acts are brought to book. The government will not allow its efforts to be jeopardised. The emerging stability of the naira is in the interest of all Nigerians.” he said

Idris added that Nigerians should be rest assured that the government will continue to take further steps to stabilize the naira and safeguard our economy.

‘’We will continue to seek the patience and understanding of Nigerians as we push through these difficult times, into a season of abundant benefits and truly renewed Hope. As the President never fails to emphasize, these headwinds we are facing are only temporary, and, collectively, we will surely overcome. The President and his team are and will remain resolutely committed and focused on the task of bringing immediate relief and enduring prosperity to all Nigerians.” he said

Politics

Ondo Decides 2024: INEC declares Lucky Aiyedatiwa winner of election

Published

on

Ondo Decides 2024: INEC declares Lucky Aiyedatiwa winner of election
Spread the love

The Independent National Electoral Commission, INEC, has declared Governor Lucky Aiyedatiwa of the All Progressives Congress, APC, winner of Saturday’s governorship election in Ondo State.

Aiyedatiwa was declared winner after polling the highest number of votes in the election.

The incumbent governor battled Ajayi Agboola of the Peoples Democratic Party, PDP, Olorunfemi Festus of the Labour Party, LP, and Abbas Mimiko of Zenith Labour Party, ZLP, among others, in Saturday’s poll.

Announcing the result in Akure, the state capital, INEC’s Returning Officer and Vice Chancellor of Federal University, Lokoja, Prof. Akinwumi Olayemi Durotimi, said Aiyedatiwa polled a total of 366781 while Ajayi got 117845 while LP had 1162.

He said, ” Lucky Orimisan Aiyedatiwa of the APC having satisfied the requirements of the law and scored the highest number of lawful votes cast, is hereby returned elected.”

Aiyedatiwa who succeeded late Oluwarotimi Akeredolu on December 27, 2023, is from Ilaje Local Government Area in the southern senatorial district of the state.

 

Continue Reading

Politics

Senegal votes for lawmakers in test for new president

Published

on

An electoral worker sits as a woman prepares to cast her vote during the early legislative election, at a polling station in Parcelle, suburb of Dakar, Senegal, November 17, 2024. REUTERS/Zohra Bensemra © Thomson Reuters
Spread the love

By Ngouda Dione and Diadie Ba

DAKAR (Reuters) -Senegal headed to the polls on Sunday to vote in a legislative election that the president hopes will give his party the clear majority it needs to implement an ambitious agenda for reforms.

The heated campaign period has revived concerns about unrest as political rivals clashed, sometimes violently. The West African nation saw some of the worst political violence in recent history ahead of the presidential election in March.

Voters line up to cast their votes during the early legislative election, at a polling station in Parcelle, suburb of Dakar, Senegal, November 17, 2024. REUTERS/Zohra Bensemra
© Thomson Reuters

 

Voting in his home town of Ndiaganiao, President Bassirou Diomaye Faye urged the electorate to remain calm no matter the outcome.

“I once again call on voters… to show serenity, commit to the peaceful route, and to accept the popular will that will be expressed through the ballot box.”

Polls opened at 8 a.m. (0800 GMT) and close at 6 p.m, with a timetable for results still to be announced. More than 7 million registered voters will have the chance to vote for candidates for the 165-seat assembly, choosing between 41 registered parties or other entities.

Voters prepare to cast their votet during the early legislative election, at a polling station in Parcelle, suburb of Dakar, Senegal, November 17, 2024. REUTERS/Zohra Bensemra
© Thomson Reuters

 

At stake is Faye’s mandate to make good on promises to crack down on corruption and improve livelihoods that helped sweep him to power in April following a landslide election victory.

Top priorities for Senegalese voters are jobs and the economy, as inflation has squeezed livelihoods and the nation’s growing youth population struggles to find employment. Many are impatient for change.

Faye says his commitment to help has been stymied by the opposition-led assembly, which he dissolved in September to pave the way for Sunday’s vote.

People patiently waited at a polling station in a school in the Dakar suburb of Parcelle Unite, where several said they were voting for Faye’s party Pastef.

A man prepares to cast his vote during the early legislative election, at a polling station in Parcelle, suburb of Dakar, Senegal, November 17, 2024. REUTERS/Zohra Bensemra
© Thomson Reuters

 

“I hope they will address the issues our population faces. I want these elections to go smoothly and for them (Pastef) to get to work. We have faith in their program,” said El Baye Toure in the leafy schoolyard.

A voter casts her ballot during the early legislative election, at a polling station in Parcelle, suburb of Dakar, Senegal, November 17, 2024. REUTERS/Zohra Bensemra
© Thomson Reuters

 

Faye’s government is also grappling with slower-than-projected growth and a worsening budget deficit.

In September, a government audit revealed that Senegal’s debt and budget deficit were much wider than the previous administration had reported, causing the fiscal crisis to spiral. A $1.9 billion IMF programme agreed in June 2023 has been on hold since the discovery.

The main threat to the ambitions of Faye’s Pastef party is the unexpected alliance of two opposition parties, including the Republic party (APR) headed by the former Prime Minister Macky Sall.

The race also includes two smaller opposition coalitions. One, led by Dakar’s mayor Barthelemy Dias, has clashed with supporters of Pastef.

Continue Reading

Politics

Norway joins the war against Russia

Published

on

Norway joins the war against Russia © unsplash
Spread the love

Norway will financially contribute to arms production in Ukraine. The Ukrainian Defense Minister proudly announced this Friday.

Under a security agreement similar to the one signed by Denmark, Norway will help speed up the production of essential weapons for Ukrainian troops: “During my visit to Oslo, I concluded agreements with the Prime Minister, Jonas Gahr Store, and the Minister of Defense, Bjorn Arild Gram, whereby Norway will join the ‘Danish model’ of direct support and financing of production in Ukraine. This will speed up the manufacturing and supply of essential armaments for our defense forces”, he declared on Facebook.

He added: “We also discussed a new cooperation format: the Norwegian model. This is a new approach to investing in Ukrainian defense technology companies”, details of which will be unveiled shortly.

Continue Reading

Trending