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84 Million Nigerians Living In Poverty Unacceptable To President Tinubu — Finance Minister Wale Edun

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  • Says we will give Nigerians decent work, sustained social protection.
  • N25,000 cash transfer begins.

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, yesterday said the number of Nigerians (84 million) living in poverty is unacceptable to President Bola Ahmed Tinubu

The situation makes ending poverty a priority for the Administration, he added.

The minister hopes the N25,000 conditional cash transfer to 15 million households, which began yesterday, will help address the problem for the most vulnerable in the short term.

President Tinubu launched the Renewed Hope Conditional Cash Transfer initiative at the Presidential Villa.

For three months, 15 million poor households nationwide will receive N25,000 cash support, for which N1.125 trillion has been provided.

It targets over 61 million vulnerable Nigerians and is designed to cushion the petrol subsidy removal pain.

The take-off of the programme coincided with this year’s International Day for the Eradication of Poverty.

Among the initial beneficiaries, who were presented with cheques at the ceremony, were Larai Suleiman, Shuaibu Hassana, Sariki Bala Gamu, Okor Jonah and Hameed Isiaka.

Edun said: “It (the number of poor Nigerians) is totally unacceptable to the President as it is to the rest of us.

“That is why it is perhaps his number one priority to tackle poverty and he has a programme to stabilise and grow the economy in general.”

Nigeria’s population is estimated at over 225 million, according to Worldometer, which provides real-time world statistics.

President Tinubu, represented by the Secretary to the Government of the Federation, Senator George Akume, restated his Administration’s commitment to poverty alleviation.

He said the theme of this year’s poverty eradication day: “Decent work and social protection: Putting dignity in practice for all,” aligns with the Renewed Hope Agenda.

The President said: “Today is a significant day for us in Nigeria and for my administration for it brings with it an opportunity for me to restate my administration’s commitment to poverty alleviation as expressed in my eight-point agenda.

“My government will lead from the front in seeking to ensure that all Nigerians have opportunities decent for dignified work and sustained social protection.

“It is only via a sustained collaborative approach that we can win this war against poverty in Nigeria and the world at large. Hope is here.

“I ask the Nigerian people to please ensure that they key into all the available programmes because they are here to help.

“Our objective is to lift millions of Nigerians out of poverty.

“Yet, this will only be possible with the cooperation of the people we seek to help. Let us continue to work together to achieve our collective goal of eradicating poverty in Nigeria.”

Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, believes it would amount to sitting on a keg of gunpowder to ignore poverty.

According to her, the N75,000, which each household will receive for three months, can form the capital for some small-scale businesses.

She said: “Beyond this, the government will be providing low-cost shelter for the poor and internally displaced persons as a form of providing that cover for them.

“Other interventions, including the rural vocational skills intervention, will be carried out at a mass scale.

“All of these are targeted at the various dimensions of poverty in the country.

“Poverty is that scourge, a hydra-headed cobra in the room that if not tackled, would consume everyone.

“Sitting and ignoring poverty at any level will only seem or equate to sitting on a keg of gunpowder and that’s why today, the president is tackling it headlong.

“We want to encourage Nigerians, the private sector, and development partners that it’s time to step up to the occasion.

“We have a clear-cut roadmap, an action plan for the eradication of poverty. Everyone must key in and be part of it.”

World Bank country representative, Shubham Chaudhuri, stressed that cash transfers are universally accepted.

According to him, the method has proven to be one of the most effective ways to support those impacted by economic shocks or rising living costs.

Chaudhuri said: “This aid is crucial in helping them overcome the initial period during which they might otherwise be compelled to make decisions with long-term consequences.

“For instance, these decisions might include reducing daily meals to just one or withdrawing their children from school.

“The type of cash transfer referred to as ‘shock-responsive cash transfer’ that is currently being implemented is utilised by countries worldwide to offer temporary relief in such situations.”

The President in July ordered the release of grains to 50 million farmers and households.

He also ordered a review of the N8,000 conditional cash transfer programme, which was initially announced by the Administration following the removal of petrol subsidy.

The sum was initially proposed for payment to 12 million poor households for six months.

BIG STORY

JUST IN: Saudi Declares Wednesday As First Day of Ramadan 2026

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After an extensive moon searching exercise, the Supreme Court of Saudi Arabia has declared that Wednesday, February 18, 2026, will mark the beginning of the holy month of Ramadan for this year, 1447 AH.

The announcement followed reports from authorized moon sighting committees across the Kingdom, in accordance with Islamic tradition, that the moon was sighted in the country.

With the confirmation on Tuesday, Muslims across Saudi Arabia will begin fasting at dawn on Wednesday, observing the ninth month of the Islamic lunar calendar with prayers, reflection, and charitable acts.

Ramadan is a period of spiritual devotion marked by daily fasting from dawn to sunset, increased worship, and community gatherings.

Mosques across the Kingdom are preparing to receive worshippers for Taraweeh prayers, while authorities have finalized arrangements to ensure smooth services during the holy month.

Government entities and private institutions are also set to implement adjusted working hours in line with Ramadan schedules.

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BIG STORY

JUST IN: Senate Passes Electoral Act Amendment Bill

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The Senate on Tuesday passed the Electoral Act, 2022 (Repeal and Re-Enactment) Bill 2026.

Before the passage, there was a rowdy session as the upper chamber resumed proceedings with a demand for division over Clause 60 raised by Senator Enyinnaya Abaribe (ADC/Abia South).

The Senate President, Godswill Akpabio, stated that he believed the demand had previously been withdrawn, but several opposition senators immediately objected to that claim.

Citing Order 52(6), the Deputy Senate President, Barau Jibrin, argued that it would be out of order to revisit any provision on which the Senate President had already ruled.

This submission sparked another uproar in the chamber, during which Senator Sunday Karimi had a brief face-off with Abaribe.

The Senate Leader, Opeyemi Bamidele, then reminded lawmakers that he had sponsored the motion for rescission, underscoring that decisions previously taken by the Senate are no longer valid.

He maintained that, consistent with his motion, Senator Abaribe’s demand was in line.

Akpabio further suggested that the call for division was merely an attempt by Senator Abaribe to publicly demonstrate his stance to Nigerians.

The Senate President sustained the point of order, after which Abaribe rose in protest and was urged to formally move his motion.

Rising under Order 72(1), Abaribe called for a division on Clause 60(3), specifically concerning the provision that if electronic transmission of results fails, Form EC8A should not serve as the sole basis, calling for the removal of the proviso that allows for manual transmission of results in the event of network failure.

During the division, Akpabio directed senators who supported the caveat to stand.

He then asked those opposed to the caveat to rise.

Fifteen opposition senators stood in opposition.

However, when the votes were counted, the Senate President announced that 15 senators were not in support of the proviso, while 55 senators voted in support of it.

Clause-By-Clause Consideration

Earlier, proceedings in the Senate were momentarily stalled as lawmakers began clause-by-clause consideration of the Electoral Act, 2022 (Repeal and Re-Enactment) Bill 2026, following a motion to rescind the earlier amendment.

The motion to rescind the bill was formally seconded on Tuesday, paving the way for the upper chamber to dissolve into the committee of the whole for detailed reconsideration and reenactment of the proposed legislation.

During the session, the Senate President, Godswill Akpabio, reeled out the clauses one after the other for deliberation.

However, the process stalled when at clause 60, Senator Enyinnaya Abaribe (ADC/Abia South), raised a point of order, drawing immediate attention on the floor.

Following the intervention, murmurs spread across the chamber as lawmakers began speaking in small groups and approaching the Senate President’s desk for consultations.

The session immediately moved into a closed-door session.

 

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BIG STORY

Dangote Signs $400 Million Equipment Deal, Set To Become Largest Refinery In The World

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Dangote Group has signed a $400 million construction equipment agreement with XCMG Construction Machinery Co., Ltd., one of China’s leading manufacturers of construction machinery, in a move set to accelerate the expansion of the Dangote Petroleum Refinery & Petrochemicals from 650,000 barrels per day to 1.4 million barrels per day, positioning it to become the largest refinery in the world.

The agreement will enable the Group to acquire additional wide range of advanced construction equipment to support ongoing and forthcoming projects across refining, petrochemicals, agriculture, and large-scale infrastructure development. The new equipment will complement existing assets deployed for the refinery expansion, which is expected to be completed within three years.

Beyond refining, the expansion programme will see polypropylene production increase from 900,000 metric tonnes per annum to 2.4 million metric tonnes per annum. Urea capacity in Nigeria will be tripled from 3 million to 9 million metric tonnes per annum, in addition to the 3 million metric tonnes per annum capacity in Ethiopia, strengthening the Group’s position as the largest urea producer globally.

Production capacity for Linear Alkyl Benzene (LAB) will also be increased to 400,000 metric tonnes per annum, positioning the Group as the largest producer in Africa and strengthening supply to the detergent and cleaning agents manufacturing industry. Additional base oil production capacity also forms part of the broader expansion programme.

In a statement, the Group described the agreement as a strategic investment aimed at deepening its construction footprint and accelerating its ambition to build a $100 billion enterprise by 2030.

“The additional equipment we are acquiring under this partnership will significantly enhance execution across our projects. With this investment, we are positioning ourselves to become the number one construction company in the world,” the statement said.

Dangote Group is currently accelerating expansion and regional market development as it advances toward its long-term vision of building a $100 billion enterprise by 2030.

 

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