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FG Moves To Declare Special Day For Senior Citizens

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The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq, has given assurance that a special national day for senior citizens would be declared soon.

Farouq gave the assurance when the management team of the National Senior Citizens Centre (NSCC) led by its Director-General, Dr Emem Omokaro paid her a visit in Abuja.

“I want to commend Omokaro for the pace at which she is settling down to work, hoping that, with the assemblage of the management team at her disposal, the overall objectives of the NSCC will be realised soon.

“I want to also assure the NSCC of my resolve to follow on with the request made by Omokaro, through the relevant Ministries, Departments and Agencies,” Farouq said.

Earlier, Omokaro appealed for the declaration of a national day of older persons in Nigeria within the months of August and early September 2021 to herald the first-ever National Senior Citizens Day celebration in October 2021.

“We are also requesting assistance from the NSCC to secure the National registration of senior citizens of Nigeria (SCN) who are 70 years and above.

“The purpose is for their effective identification for public respect, age-friendly services and concessions in banking services and facilities, road, air and rail transportation services as well as health and hospital services,” Omokaro said.

Highpoint of the visit was the formal presentation of the Communiqué issued at the end of one-day senior citizens forum maiden dialogue organised by the National Senior Citizens Centre on Aug. 3.

The News Agency of Nigeria reports that the National Senior Citizens Centre was approved by the Federal Executive Council in January 2018 while its board was constituted in June 2021.

The centre is to cater to the social welfare of citizens aged 70 and above in areas like healthcare, pensions, income security, leisure, a supplementary income and other social protection safety nets.

As of July 2020, the National Social Register of Poor and Vulnerable Households holds data for 1, 625, 937 persons across 36 states and the FCT.

The register showed that 48 per cent are male while 52 per cent are female.

A further breakdown of data in the register showed that fractions of this aged population deal with vulnerabilities including health-related issues, financial deprivation, illiteracy, and lack of basic care.

The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development has so far picked out 200,748 elderly persons nationwide from the National Social Register to benefit from the Federal Government’s COVID-19 Cash Transfer Programme.

The National Senior Citizens Centre is domiciled in the Federal Ministry of Humanitarian Affairs Disaster Management and Social Development.

(NAN)

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Federal Government To Grant Mining Licenses To Only Companies That Process Locally

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Nigeria will only grant new mining licences to companies that present a plan on how minerals would be processed locally, under new guidelines being developed, a government spokesperson confirmed on Thursday.

This is a departure from Nigeria’s long-standing practice of exporting raw commodities, as governments around Africa work to increase the value derived from their substantial mineral reserves.

To spur investment, Nigeria will offer investors incentives including tax waivers for importing mining equipment, make it easier to secure electricity generation licences, allow full repatriation of profits and boost security, Segun Tomori, a spokesperson for Nigeria’s minister of solid minerals development said.

“In exchange, we have to review their plans for setting up a plant and how they would add value to the Nigerian economy,” Tomori said. He did not say when the guidelines would be finalised or come into effect.

However, last week the minister of solid minerals development, Dele Alake, said it was now government policy to make value addition a condition for obtaining licences so as to create jobs and help local communities.

Alake, who also chairs an African mining strategy group comprising mining ministers from Uganda, Democratic Republic of Congo, Sierra Leone, Somalia, South Sudan, Botswana, Zambia and Namibia, is pushing for a continent-wide effort to get maximum local benefit from mineral exploration.

Nigeria, Africa’s top energy producer, has struggled to extract value from its vast mineral resources due to poor incentives and neglect. The underdeveloped mining sector contributes less than 1% of the country’s gross domestic product.

Last year Nigeria exported mostly tin ore and concentrates worth about 137.59 billion naira ($108.34 million), mainly to China and Malaysia, according to the country’s statistics bureau.

The government aims to drive more investment into the sector by issuing more licenses. It has set up a state-owned solid minerals corporation offering investors a 75% stake and established a special security unit tasked with fighting illegal miners.

The government is also trying to regulate artisanal miners, who dominate the sector, by grouping them into cooperatives.

Foreign mining companies operating in Nigeria include Canada-based Thor Explorations which is involved in gold exploration, Chinese-owned Xiang Hui International Mining which partnered with a local company to process gold, and Indian-owned African Natural Resources and Mines, which is building a $600m iron ore processing plant in northern Nigeria.

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Governor Babajide Sanwo-Olu Felicitates President Tinubu At 72

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Governor Babajide Sanwo-Olu, has congratulated President Bola Ahmed Tinubu on his 72nd birthday, describing him as a brave, bold, and passionate leader who is dedicated to the advancement, growth, and development of Nigeria.

He said that President Tinubu’s contribution to the nation’s growth is cause for celebration, citing the President’s unparalleled bravery, integrity, honesty, and patriotism in his efforts to steer Nigeria’s ship in the correct path since he into office on May 29, 2023.

Governor Sanwo-Olu, in a statement issued on Thursday by his Special Adviser, Media and Publicity, Mr. Gboyega Akosile, said President Tinubu has provided honest and transparent leadership in Nigeria by taking bold decisions to address challenges militating against the prosperity of Nigeria and Nigerians.

Sanwo-Olu further described the President as a visionary and master strategist whose democratic credentials are scholarly materials for study in political economy.

He said: “On behalf of my family, the government, the people of Lagos State,  members of the Governance Advisory Council (GAC), leaders, and members of the ruling All Progressives Congress (APC) in Lagos State, I congratulate our leader, President Bola Tinubu, on the occasion of his 72nd birthday.

“President Tinubu has sacrificed the greater part of his life in the service of our dear State and Nigeria. He contributed to the enthronement of democracy and good governance, serving first as a Senator in the aborted third republic and later as a pro-democracy activist, working tirelessly as a member of the National Democratic Coalition (NADECO) to struggle for the de-annulment of the June 12, 1993 presidential election.

“President Tinubu’s financial wizardry and economic intellect, which he put to good use as the Governor of Lagos State, have taken our dear state to a greater height. Today, Lagos is the pride of Nigeria, occupying an enviable position as the fifth largest economy in Africa.

“President Tinubu has made positive impacts in the country through the Renewed Hope agenda of his administration. His unblemished service and track record of impressive achievements in public office have made him a role model for many Nigerians.

“As President Tinubu celebrates his 72nd birthday, it is our prayer that God will grant him more prosperous years in good health and wisdom as he continues to serve our dear nation.”

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JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

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The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

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