Niger State Government has said that it will henceforth be paying its workers 70 per cent of their salaries as a result of a reduction in its federal allocation.
Secretary to the Niger State Government, Ahmed Ibrahim Matane, in a statement today, November 25, said that the reduction in salaries was not a slash but the state’s inability to meet 100 per cent salaries.
“What we discussed with the organized Labuor was that because of the recession, our FAAC allocation has dropped to a level where we would not be able to pay 100 percent of the salary.
“We called their attention to this; we opened our books in terms of how much we received, the existing commitments and what is left over.”
Matane said that there will be a meeting with Labour leaders tomorrow, November 26 to discuss the next steps to take.
Soccer legend, Diego Maradona, has died at 60 after suffering a cardiac arrest, according to multiple Argentine media outlets.
The football legend had a heart attack at his home just two weeks after leaving hospital where he underwent surgery on a blot clot in his brain.
Maradona, regarded as one of the greatest footballers of all time, helped Argentina win the World Cup in 1986, the pinnacle of an illustrious career.
He played for Boca Juniors, Napoli and Barcelona among others and was adored by millions for his brilliant skills.
The Argentine news outlet Clarin broke the news on Wednesday afternoon UK time, describing the news of Maradona’s passing as having a ‘worldwide impact’.
Soon, tributes were pouring in from all over the world of football.
Maradona left hospital on November 11 just eight days after being admitted for emergency brain surgery.
The legend former Argentinian footballer was driven away from the private Olivos Clinic just before 6pm on Wednesday as hundreds of fans of photographers tried to get a glimpse of him.
Maradona was hospitalised the previous week and had to have an emergency operation to remove a blood clot from his brain.
The Minister of Information and Culture, Lai Mohammed, has accused international news channel, CNN of getting its news on EndSARS shooting at Lekki in Lagos mainly from questionable social media.
He said: “we are accusing them (CNN) of basing their stories on videos sourced on social media. CNN has been inconsistent. It also doctored the video it got. We are confident in our position.”
The Minister, who reacted to the release of the second ‘investigative report’ on the shootings at Lekki toll plaza during the #EndSARS protests depite threats of sanction from the Federal Government, while speaking on NTA today, November 25, said: “they (CNN) did the story without contacting the Federal Government for its own side. They relied on second and third parties narratives.
“What we are asking CNN is that where is your evidence? The military has been consistent. CNN contravenes the basic principles of journalism – fairness, and balance. They (CNN) were caught spreading fake news and they are trying to escape.”
When asked about the second CNN’s report, Mohammed said: “it shows that they (CNN) are desperate. The so-called recent development has been seen before. There is nothing new. If there is anything new, it is a contradiction of CNN’s position.”
Speaking on the protest letter written to CNN, the minister said: “We have received an acknowledgment and we were told that the letter has been passed to the editorial team.”
The Central Bank of Nigeria (CBN) has expressed determination to end the current recession by the end of the year as it holds its benchmark interest rate to allow previous cuts to flow through the economy.
All 10 members of the monetary policy committee who attended the two-day meeting today, November 24, voted to keep the rate at 11.5%.
The apex bank’s Governor, Godwin Emefiele said in a virtual news briefing from the nation’s capital, Abuja, emphasized that the pause following two cuts of 100 basis points each in 2020 signaled that the nation’s second recession in less than four years will be short-lived.
Emefiele said that holding rates “will allow current policy measures to permeate the economy.”
The twin impact of coronavirus lockdowns and the plunge in the price of oil hit the West African economy harder than most on the continent. That came on top of land borders that have been closed since last August in an attempt to curb smuggling and boost local production. This has weighed on Nigerian exports and on the supply of some food products, adding to inflation.
Although inflation has been above the central bank’s target band of 6% to 9% for more than five years, and quickened for a 14th straight month in October, this should start moderating in the medium term, according to the MPC. Food-price growth, that has been a key driver, is expected to ease, Emefiele said.
The committee kept the cash reserve requirement at 27.5%, held the liquidity ratio at 30% and retained the asymmetric corridor, which means the cost at which lenders borrow is at 100 basis points above the monetary policy rate and the return on their deposits at 700 basis points below the benchmark.
President Muhammadu Buhari has said that his government has set in motion, plans towards making Nigeria net exporter of petroleum product.
Speaking today, November 24 at the virtual inauguration of the 5,000 barrels per day Waltersmith modular refinery in Ibigwe, Imo State, as well as the Ground-Breaking Ceremony for the Phase-2 works to expand the capacity of the refinery to 50,000 barrels/day, Buhari said that the deployment of modular refineries is one of the four key elements of his administration’s Refinery Roadmap rolled out in 2018.
According to the President, “the realization of the Refinery Roadmap will ultimately lead us to becoming a net exporter of petroleum products not only to our neighbouring countries but to the worldwide market.”
He expressed delight that Waltersmith refinery in Ohaji Egbema Local Government Area of Imo State was coming on stream within two years of the commencement of the Roadmap, after many years of granting licenses for the establishment of modular refineries with nothing to show for it.
”Furthermore, there is increased momentum in the other three focus areas under the Roadmap covering the Rehabilitation of existing refineries, Co-location of new refineries, and Construction of greenfield refineries.
“This modular refinery is the largest commissioned modular refinery in the country today.
“The role played by the Federal Government through the Nigerian Content Development and Monitoring Board (NCDMB) in going into collaboration with Waltersmith Refining and Petrochemical Company is novel in concept and superb in delivery,” he said.
The President described plans to commence the expansion of the capacity of the refinery to 50,000 barrels per day to refine crude oil and condensates as an important part of economic reforms the country is undergoing.
“I look forward to seeing this new phase completed within the target timeframe,” the President said, even as he directed the Ministry of Petroleum Resources, Department of Petroleum Resources (DPR), NNPC, as well as all relevant Government Agencies to provide Waltersmith Company all the necessary support to access crude oil and condensate feedstock for the timely delivery of the additional capacity.
In line with his administration’s agenda on jobs creation, the President said he was pleased to note that hundreds of direct and indirect jobs were created during the construction of the first phase of the project in addition to the various business opportunities.
He expressed hope that the construction of the second phase of the project will create bigger additional employment opportunities.
President Buhari thanked the local community and the people of Imo State for hosting the refinery, which, he stressed, will bring prosperity and economic development to the area.
The President commended the Ministry of Petroleum Resources, the Honourable Minister of State for Petroleum Resources, Timipre Sylva, the Chairman and members of the Governing Council, and the management and staff of the Nigerian Content Development Board for making the public-private partnership a success.
He also commended the Chairman, Board, Management and Staff of Waltersmith Refining and Petrochemical Limited for their professionalism and focus in getting the project completed.
Governor Hope Uzodinma of Imo State and the Minister of State, Petroleum, cut the tape on behalf of the President at the event which was also attended by the Group Managing Director of NNPC, Mele Kyari, the Executive Secretary, NCDMB, Engr. Simbi Wabote and the Chairman of WalterSmith, Abdulrazaq Isa.
Vice President Yemi Osinbajo has said that the Muhammadu Buhari saw the negative effects of Coronavirus coming and worked on a few things as game-changers in the nation’s economy.
Professor Osinbajo, who spoke today, November 24 at a webinar with some French business leaders under the auspices of the Franco-Nigeria Chamber of Commerce and Industry, said that part of what the Buhari administration had done in its response to Coronavirus pandemic was to build a business environment that will be supportive of domestic and foreign investors.
“It is important to recognize that the pandemic, which really is the cause of the downturn, not just in the Nigerian economy, but practically all of our economies, all over the world, except perhaps China, also provides incredible opportunities for doing all manner of very innovative, and creative things.
“And I think that we are in a season where we are ready to experiment and ready to do a lot more. And if you look at our Economic Sustainability Plan, which is our response to the pandemic, what we tried to do was to do a few things that we thought would be game changing.
“For example, one of the important things that we are trying to do with respect to renewable energy is with solar power. We are collaborating with several solar power companies to provide, within the next 12 months, 5 million Nigerian households with solar home systems.
“This is partly to address the issues with the national grid by providing more off-grid capacity and provide more opportunities in the renewable energy space. What we are doing is to get the financing through the Central Bank of Nigeria as part of the Economic Sustainability Plan.”
The Presidential Task Force (PTF) on COVID-19 has advised Nigerians to suspend their Christmas and New Year travels to limit the risk of contracting the virus.
The chairman of the task force, Boss Mustapha, at a press briefing today, November 23, said that such trips should be put on hold to reduce transmission risks.
He said that large social gatherings should also be avoided because there is a bigger risk of COVID-19 transmission.
“Ahead of the upsurge in travels for the Christmas and New Year festivities, we urge strongly that for this year, such trips should be put on hold firmly because of the risks involved.
“The transmission rate has simply become astronomical.”
According to him, new clusters of cases can also emerge in places that have so far been unaffected as people gather for festivities.
“There will always be many more festive seasons to celebrate.”
Chairman of Transorp Energy, Chief Tony Elumelu is believed to have completed plan to sign $1 billion oil block deal even as the Founder of the BUA Group, Abdulsamad Rabiu, is also planning to build a 200,000 barrels per day (bpd) oil refinery in Akwa Ibom State, all aimed at pulling Nigeria from the “worst” recession.
The 200,000 barrels per day (bpd) oil refinery in Akwa Ibom State project is expected to rival the 650,000 bpd Dangote Refinery project in Lagos.
Elumelu was quoted to have told Financial Times today, November 23: “you’ll suppose at a time like this, rational funding behaviour could be to decelerate. However, we are even investing extra.”
Elumelu said that Transcorp Energy was on track to secure a $300 million stake in a state-owned energy facility.
The appetite of local investors is much stronger than their international peers’. The inflow of Foreign Direct Investment (FDI) into the country over the last 12 months is slower than that of Ghana.
Nigeria attracted only $148.6 million in FDI in the second quarter, one-third weaker than the figure it reported in the same period of 2019.
Portfolio investors are similarly casting their glances elsewhere to seek climes promising safety for capital in the face of global investment disruption.
Inflows from this investment category slumped 91 percent to $385.3 million from April to June, relative to the second quarter of last year.
The economic condition is grim. The Gross Domestic Product tapered by 6.1 percent in the second quarter and 3.62 percent in the last quarter where the unemployment and the inflation rates are simultaneously surging just like the cost of food.
“You possibly can’t get foreigners to take a position when home traders are cautious,” said Amaka Anku, director and practice head at Eurasia Group, a Washington-based consultancy.
Small-scale domestic businesses do not have the heart to invest the way big players do, she added, affirming wider insecurity on the country’s investment scene.
Arewa Youth Consultative Forum, AYCF, has accused the Federal Government of selective application of justice by detaining Senator Ali Ndume on the same offence committed by Senator Enyinnaya Abaribe.
While Senator Ali Ndume was today, November 23, remanded at Kuje Correctional Centre for failing to produce the former Chairman of the defunct Pension Task Team, Abdulrasheed Maina, Senator Abaribe has been allowed to walk freely after standing suretie for Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB, who jumped bail and is on the run,
In a statement today, the National President of the AYCF, Alhaji Yerima Shettima, wondered why same court has not ordered the detention of Senator Enyinnaya Abaribe, saying: “we, as a youth group from the North, find the arrest and remand in prison of Senator Ali Ndume because fugitive Abdurrashid Maina had jumped bail, as unfair. Much as we are not denying whether Abdurrashid Maina committed offence or not, we believe it amounts to setting bad example if Senator Abaribe – who stood surety for terrorist Nnamdi Kanu is still walking the streets as a free man.
“We cannot fathom why Senator Abaribe, who secured bail for IPOB’s Kanu whose action has since been declared treasonable and terror to the country (and still on the run) has never ever been sanctioned for standing surety.
“In the interest of equity, fairness and balance, Senator Abaribe should be immediately arrested and remanded in prison too, until IPOB’s Kanu is turned it or he turns himself in.
“Both Ndume and Abaribe are senators of the Federal Republic of Nigeria and therefore Abaribe cannot be said to be higher in status than Ndume. Both are lawmakers by the grace of our national constitution and the votes of their constituents.
“Most importantly, we have a duty as a country to demonstrate that in this country, no one citizen is above the other. Significantly, Ndume’s case is such that Maina is still a “suspect” being tried by the law and no sentence has yet been handed down by any court of competent jurisdiction. Still, this cannot be said of Nnamdi Kanu and his treason case.
“We are therefore very disturbed that this is happening to Ndume at a moment democratic power is mainly in the hands of people from Ndume’s immediate constituency. It is this kind of development that gives room for people to accuse the Federal Government of selective application of justice.
“We, therefore, call on President Buhari to intervene and put an end to this embarrassing selectivity against one the North’s exceptionally-vocal, fearless and pro-masses member of the National Assembly.”
A Federal High Court had on today, ordered the detention of Senator Ndume beNdume, who represents Borno South at the National Assembly and stood as surety for Maina who is standing trial on alleged money laundering charges.
A Nigerian-born medical doctor and one of those leading the research at Pfizer for a COVID-19 vaccine in the United States, Dr. Onyema Ogbuagu, has dispelled misconceptions concerning the COVID-19 vaccine, saying that there is no sinister plan in the development of the vaccine.
Dr. Ogbuagu, who is an Associate Professor of medicine at Yale University in the US, in a series on Tweet on his official handle concerning some misconceptions about the vaccine, warned that misinformation about the pandemic may lead to loss of lives.
He insisted that the vaccine efficacy results are real and that they were not delayed to hurt or help any politician.
“The Pfizer vaccine doesn’t contain the SARS CoV-2 virus or parts of it!
“No nefarious or sinister plan to inject people with a labeling code. The mRNA vaccine is not integrated into recipient’s genome. No fetal tissue is used for the mRNA vaccine. And No!…researchers such as myself are not part of any conspiracies.
“We just want to apply science to improve patient outcomes and even better, to prevent disease.
“We can only work our way out of this pandemic through effective vaccines especially because it is difficult to achieve optimal mask-wearing and physical distancing to end the pandemic.
“Think of how vaccines have made deadly diseases either go away (smallpox) or become relatively rare (such as measles).
“When the “COVID” vaccine becomes available, let’s roll up our sleeves and let’s end this thing! Another challenge would be the equitable distribution of vaccines.
“High vs. low/middle-income countries, and even in developed nations, to ensure that vulnerable and underserved populations, disproportionally affected by the pandemic are proportionally reached!
“Now is time for strategic distribution plans at global, national, and community level.
“Pfizer and BioNTech had announced that a completed study shows that their experimental COVID-19 vaccine is 95 percent effective.
“The study results mark an important step in this historic eight-month journey to bring forward a vaccine capable of helping to end this devastating pandemic,” Pfizer CEO, Albert Bourla said.
During the announcement, Pfizer was quoted as saying it would be able to supply 50 million doses by the end of 2020, and around 1.3 billion by the end of 2021.
Dr. Ogbuagu is an associate Professor of Medicine, in the clinician-educator track and Director of the HIV Clinical Trials program of the Yale AIDS Program, Section of Infectious Diseases of the Yale School of Medicine.
His Bio:
Ogbuagu’s profile on the website of Yale School of Medicine states that his clinical responsibilities include educating and training medical students, residents, and infectious diseases fellows in various capacities in inpatient and outpatient settings; and through structured course work and other teaching sessions.
“As a faculty of the HIV training track of the Yale-Internal Medicine primary care program and for over 6 years as a faculty of the Human Resources for Health program in Rwanda, I have extensive experience with curriculum development, structuring of residency training programs, and mentoring residents and faculty. In Rwanda specifically, I have and continue to mentor medical residents and junior faculty in quality improvement and clinical research projects that are locally relevant and addressing important infectious diseases-related problems (particularly HIV/AIDS and antimicrobial resistance).
“Furthermore, I have facilitated meaningful educational and research collaborations between faculty and trainees across institutions. As the program director of World Bank and HRSA-funded efforts supporting the Liberia College of Physicians and surgeons (LCPS)–run Internal medicine residency training program, I have overseen the selection and deployment of faculty to Liberia, and am responsible for educational programs and activities aimed at strengthening the residency training program. Overall, my expertise and collective experiences to date have positioned me to design and run successful projects around capacity building in low-resource settings including developing and implementing innovative and robust medical training and research programs for faculty, fellows, residents, and students.”
For five years now, Ogbuagu has been the Director of the Yale AIDS Program HIV clinical trials program, and a principal investigator on numerous pharmacokinetic, phase 2 and 3 safety and efficacy trials of novel antiviral compounds (HIV).
More, recently, given the alarming rate of new infections among men who have sex with men (MSM), he has focused on HIV prevention trials including being a co-principal investigator on a Yale CIRA funded project, which has supported the formation of a cohort of men who have sex with men, who are at high risk for HIV and are engaged in HIV PrEP services in order to study the impact of substance use on retention in care and adherence to PrEP.
He is also the lead investigator on the international DISCOVER trial evaluating TAF/FTC vs TDF/FTC for HIV prevention among MSM and transgender women.
He is Yale’s principal investigator on multiple investigational therapeutic and preventative clinical trials for COVID-19 including remdesivir (now FDA approved), leronlimab and remdesivir and tocilizumab combination therapy as well as the Pfizer/BioNTech Vaccine trial.
-A UNICAL Graduate With Many Honours-
Ogbuagu studied medicine at the University of Calabar, Cross River state, in 2003. After graduation, he interned at the Ebonyi State University Teaching Hospital, Abakaliki, Nigeria.
He then proceeded to intern at Mount Sinai School of Medicine (Elmhurst), New York. He rose to become a chief resident at the same school after which he became a fellow of infectious diseases, Yale University School of Medicine, New Haven, Connecticut.
In 2015, Ogbuagu became a fellow at, American College of Physicians. In 2017, he was a nominee for Charles W. Bohmfalk Award in Clinical Science, Yale University School of Medicine. In the same year, he won the Steve Huot Faculty Award for Dedication and Excellence, Yale University School of Medicine Internal Medicine Primary Care programme.
In 2019, Ogbuagu was awarded the Gerald H. Friedland award for outstanding international research. In 2020, he emerged as a nominee for Charles W. Bohmfalk Award in Clinical Science, Yale University School of Medicine.
-US Missions Recognition-
United States Diplomatic Mission Nigeria also recognised his contribution to the world of Medicine. In a tweet on Monday, November 23, they said, “Our hats off to Dr. Onyema Ogbuagbu at Yale who helped develop a COVID-19 vaccine!”
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The Central Bank of Nigeria (CBN) has expressed determination to end the current recession by the end of the year as it holds its benchmark interest rate to allow previous cuts to flow through the economy.
President Muhammadu Buhari has said that his government has set in motion, plans towards making Nigeria net exporter of petroleum product.
Vice President Yemi Osinbajo has said that the Muhammadu Buhari saw the negative effects of Coronavirus coming and worked on a few things as game-changers in the nation’s economy.
