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Despite Difficult Times, Firstbank Excited Families With Unique “DecemberIssaVybe” Experiences

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It was glitz and glamour as the premier and leading financial institution in the country, FirstBank thrilled their customer to a memorable “DecemberIssaVybe” at the just concluded Vibe on the Beach, featuring sensational music act, Ayodeji Ibrahim Balogun widely known as Big Wiz. The timing of the concert was right, having had Asake and Kiss Daniel’s concert precede that of the grammy award winning music sensation.

DecemberIssaVybe is not just about music but fun, fun and fun in its entirety, from stage plays to art and culture… the list comprised Culturati to Beeta Arts Festival Abuja, Koffi Tha Guru Unorthodox, Duke of Shomolu Production’s Encore, Our Duke Has Gone Mad Again and Ufok Iban.

Others supported by the Bank include; Joromi: The Musical Concert; Osamede, Awo and Ufok Iban by Duke of Shomolu Productions.

So back to the main gist… tell me who does not love gist, especially when it comes to Big Wiz.

Vibes on The Beach was held at Landmark Beach Oniru, Lagos on Friday, December 30th, 2022. It was unarguably an amazing night of fun and nothing but a star-studded show which exploded the audience to the height of ecstasy and rhythm of bliss courtesy of FirstBank.

With the kick time slated for 6 pm, the environs of Oniru were a beehive of activities as thousands thronged Landmark to be a partaker of the grandest Lagos concert of the year.

The organizational skills of the organizers and sponsors were nothing short of perfection as Landmark was transfigured into a haven of an international center, divided into regular, VIP, and VVIP.

Of a truth, the attendees who cut across individuals, friends, family members who came for reunions, and lovers were all smiles as they passed through the passage of entrance branded with FirstBank, the only financial brand which has provided them the opportunity and platform for yet another memorable homecoming experience with their idol, Wizkid.

Those at the regulars, VIPs, and VVIPs stands were mesmerized by the decoration and branding of the venue and the cool atmosphere which prepared them for the entrance of their favorite show hosts, Mr. Macaroni and Kiekie whose real names are Bukunmi Adeaga-Ilori.

Guests and fans of Big Wiz were in High expectations of the fun-filled experience they signed for the night when Popular skit maker cum musician, Oderhohwo Joseph Efe, famously called Carter Efe and Berri Tiga sang their trendy song, Machala, a blend of Afro-fusion. The song is widely attributed to be an anthem in honour of the superstar singer, Wizkid.

Afterwards, Landmark was thrown into a frenzy as Big Wiz, the biggest act of the night was ushered on stage. Interestingly, the entrance of Big Wiz was a barrier breaker and line crosser as those in the regular, VIP, and VVIP stands all melted into unison to the scintillating performance of the music superstar as he took everyone down memory lane starting from his evergreen debut singles to the newest and fresh contemporary songs. And guess what? Wizkid surprised everyone and added a juicy flavour to the event by doing a collaboration with the popular act, Naira Marley.

Truth be told, the 2022 edition of “#DecemberIssaVybe” by FirstBank goes beyond excitement but birthed memories that will be hard to fade off attendees’ minds for many years.

The bank’s dedication to going beyond functional products and benefits for its stakeholders and providing these types of enabling experiences sets it apart in the industry and solidifies its position as a leader in not just directly supporting the arts and entertainment industry but economically impacting its value chain.

Anyone not following the Bank is surely on a long thing but hey, it is never too late as there are still many excitements the Bank creates on its social media ecosystem via @firstbanknigeria (Instagram); @FirstBankngr (Twitter) and First Bank of Nigeria Limited (Facebook).

2023 will surely be another back-to-back hit as the financial giant creates more memorable fun for its customers and followers.

BIG STORY

Nigeria’s Stability More Important Than Our Pockets — Shettima Tells Senators-Elect

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Nigeria’s Vice-President, Kashim Shettima, has charged senators-elect to “vote wisely” when the upper legislative chamber is inaugurated next week.

The senate will elect its presiding officers for the 10th assembly on Tuesday.

Speaking during the ninth senate’s valedictory session on Saturday, Shettima told the lawmakers that the stability of the country is greater than that of their pockets.

There have been allegations that some senate president hopefuls are using money to woo senators-elect to vote for them.

Although the All Progressives Congress (APC) has nominated Godswill Akpabio, a former minister of Niger Delta affairs, for the position of senate president, Abdulaziz Yari, a former governor of Zamfara, and Orji Uzor Kalu, chief whip, have insisted on vying for the position.

The vice-president said the country’s interest should inform who they elect as senate president and deputy.

“To my incoming colleagues, I will leave you with a parable, ‘the stability of this nation is superior to the stability of our pockets’. On Tuesday, let us vote wisely, let us vote for the Nigerian nation,” he said.

The number two citizen described his colleagues as “friends who have become an integral part of my history”.

“We have served shoulder to shoulder in the face of adversity and worked relentlessly for the betterment of our nation,” he said.

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BREAKING: DSS Confirms Godwin Emefiele’s Arrest [VIDEO]

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The Department of State Services (DSS) has confirmed the arrest of suspended Central Bank of Nigeria (CBN) governor, Godwin Emefiele.

It was earlier reported the arrest of Emefiele by the DSS, shortly after he was suspended by President Bola Tinubu.

But on Saturday, the Service, on its Twitter handle said Emefiele was not in its custody.

Despite the denial by the DSS, report has it that the former CBN chief was in the custody of the secret police.

But confirming the report on Saturday evening, DSS spokesman, Peter Afunanya, posted: “The Department of State Services (DSS) hereby confirms that Mr Godwin Emefiele, the suspended Governor of the Central Bank of Nigeria (CBN) is now in its custody for some investigative reasons.”

 

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Talking Frankly On Removal Of Fuel Subsidy By Babajide Fadoju 

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Now that subsidy is gone, what is the plan?

Subsidies play a significant role in shaping economic policies in many countries, including Nigeria.

Subsidies are government incentives that aim to support specific industries or sectors by reducing the cost of goods or services.

However, the effect of subsidy removal on the Nigerian economy has been a subject of much debate and analysis.

Subsidies have long been used by the Nigerian government to support various sectors primarily the energy sector.

These subsidies are intended to stimulate economic growth, encourage investment, and alleviate the burden of high costs on consumers.

For instance, fuel subsidies have been implemented to ensure affordable prices for petroleum products, as Nigeria heavily relies on oil for its revenue.

Due to several imports, the subsidy on petrol has to be removed. For one the federal government cannot afford the subsidy payment anymore.

By removing subsidies, the government can redirect its spending towards more productive sectors.

The funds that were previously allocated to subsidies can be channelled into infrastructure development, healthcare, education, and other critical areas that can foster long-term economic growth.

The removal of subsidy is good for the industry; growth will be engendered as several players can now play competitively, efficiency will become the cornerstone to build on and this will aid product delivery to the end users.

The removal of subsidies can promote economic efficiency by allowing market forces to determine prices and allocate resources more effectively.

When subsidies are in place, they can distort market signals, leading to inefficiencies and suboptimal resource allocation. By removing subsidies, the government can create an environment that encourages competition and innovation, driving economic growth in the long run.

That is just one way to look at it, according to economic analysts, the removal of subsidies will trigger a temporary spike in inflation as the prices of essential commodities rise. However, over time, the market will adjust to the new price equilibrium, and inflationary pressures may stabilize.

One of the primary concerns surrounding subsidy removal is its impact on low-income households. These households often heavily rely on subsidized goods for their daily needs.

When subsidies are removed, the cost of living may increase, posing challenges for vulnerable segments of society.

To counter this, the government is prepared to review several areas of the fiscal economy. The government is prepared to review the minimum wage and provide palliatives for the most vulnerable.

More importantly, the money recouped from subsidy will be reallocated into infrastructure development and social programs, fostering sustainable economic growth.

It might be hard at first, but we will cross this rubicon and the country will be better for it.

Frequently Asked Questions (FAQs)

1. When was fuel subsidy removed in Nigeria?

Contrary to popular opinion, the subsidy regime was ended by the assent to the Petroluem Industry Act by the then president, Muhammadu Buhari in February of 2022. However, the nation was not ready and the budgetary allocation continued into May of 2023 – the end of the Buhari administration.

2. How does subsidy removal impact inflation?

Subsidy removal can lead to short-term inflationary pressures as the prices of subsidized goods or services increase. However, over time, the market can adjust to the new price equilibrium, and inflation may stabilize.

3. Are there alternative measures to subsidy removal?

Yes, there are alternative measures that can be considered before resorting to subsidy removal. These include subsidy reforms, targeting subsidies to specific populations, improving subsidy delivery mechanisms, and implementing fiscal consolidation measures.

4. What are the potential social implications of subsidy removal?

Subsidy removal can have social implications, particularly for low-income households. The increased cost of living may pose challenges for vulnerable segments of society. However, by redirecting resources, the government can implement targeted social welfare programs to mitigate the adverse effects.

6. What are the long-term benefits of subsidy removal?

The long-term benefits of subsidy removal include improved fiscal sustainability, increased government revenue, reduced corruption opportunities, economic efficiency, and the reallocation of resources to critical sectors.

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