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Economic Instability, FX Scarcity Forced 800 Companies To Shut Down — Finance Minister Wale Edun

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Wale Edun, the minister of finance, says economic instability forced 800 companies to shut down operations.

Edun said this on Tuesday in Abuja during the sectoral report of President Bola Tinubu’s one year in office.

According to the minister, these enterprises’ exit was not unexpected.

He claimed that although certain problems—like unstable markets, broken contracts, and unfulfilled promises—had kept them away, they have since been fixed.

“Government did inherit an unstable economy,” Edun said.

“The 800 companies or so did not make up their minds overnight. They stayed until they could stay no more.

“The conditions which sent them packing are no more. Those conditions were a foreign exchange market that was in no way fit for purpose.

“There was no liquidity. They were a general economic regime marked by instability, broken promises, lack of adherence to contracts.”

Edun said the new environment for investors involves tackling inflation, which will eventually result in lower interest rates.

This, he said, will allow investors to leverage the dynamic domestic markets to enhance their equity and invest.

On March 6, the Manufacturers Association of Nigeria (MAN) said 767 manufacturers shut down operations, while 335 became distressed, in 2023.

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Delta Man Nabbed For Allegedly Defiling 13Yr-Old Girl

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The Delta State Police Command arrested Ezekiel Elijah for allegedly defiling a 13-year-old girl in Aviara, Isoko area of the state. Police Public Relations Officer Bright Edafe disclosed this on (link unavailable) on Sunday.

Edafe stated that Elijah lured the minor into his room and defiled her. He also accused Elijah of taking advantage of the victim, who has a “hearing impairment.”

Edafe wrote, “Rape is different from defilement. For defilement, the consent of the underage girl is immaterial (which means, you can’t say she is my girlfriend).” He added that the 13-year-old girl Elijah defiled is “physically impaired.” Edafe said, “He took advantage of this child, lured her to his room and defiled her. May God help us.”

In a video, Elijah said he met the victim on his street and invited her to his house. He stated, “I knew her on the street. She was going out with her friend when I called both of them. She was the one who later answered me, and I asked her to follow me to my house. That was when I requested sex from her.”

Elijah claimed he didn’t know the girl was 13 years old. Edafe insisted that Elijah took advantage of the girl’s vulnerability, saying, “The offence of defilement is a clear one. She has not got to the age where she can decide for herself whether she wants to sleep with a man or not.”

Edafe disclosed that Elijah would be arraigned in court.

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Former US President Jimmy Carter Dies At 100

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Jimmy Carter, a former president of the United States, has died.

The Democrat, who served as president from 1977 to 1981, passed away at the age of 100.

The Carter Centre announced that the 39th president of the US died on Sunday afternoon at his home in Plains, Georgia, surrounded by his family.

He is survived by four children, 11 grandchildren, and 14 great-grandchildren.

Carter became the first ex-US president to reach 100 years on October 1, 2024.

He lost his re-election bid to Ronald Reagan in 1981 and left the White House with low approval ratings amid economic turmoil.

Following his presidency, he dedicated himself to humanitarian work, which earned him the Nobel Peace Prize in 2002.

Rosalynn, Carter’s wife of 77 years, passed away in November 2023.

“My father was a hero, not only to me but to everyone who believes in peace, human rights, and unselfish love,” Chip Carter, his son, said in a statement after his passing.

“The world is our family because of the way he brought people together, and we thank you for honoring his memory by continuing to live these shared beliefs.”

Carter was the first US president to embark on a state visit to sub-Saharan Africa when he arrived in Lagos, Nigeria on March 31, 1978, with Olusegun Obasanjo, then military ruler, on hand to receive him.

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We Spend N204m Monthly To Keep Kaduna Clean — Environment Commissioner Buba

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Abubakar Buba, commissioner for environment in Kaduna, has stated that the state government spends N204 million monthly to maintain cleanliness in the state.

Buba made the comment in response to a recent report by State of the Nigerian Environment (STONE), which ranked Kaduna as the cleanest state in the north-west.

In a statement issued on Sunday, Buba explained that this investment is driven by Uba Sani, the state governor, who believes that “a clean environment is the foundation of a good healthcare system.”

The commissioner noted that the significant financial commitment is beginning to show results, describing the ranking as a true reflection of the sanitary condition of the state.

He further mentioned that the Sani administration has engaged 2,400 street sweepers who ensure that major cities are swept every day.

Buba clarified that the cost is shared by both the state and local governments.

“The Senator Uba Sani Government is doing a lot toward ensuring the recycling of waste to wealth. In the near future, Kaduna State government will be generating revenue from waste instead. We are currently working with investors in this area,” Buba added.

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