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The Federal Government has released a state-by-state breakdown of another tranche of N243.8 billion Paris Club refund of over-deductions on Paris Club and London Club Loans.

The Minister of Finance, Kemi Adeosun, in a statement on Tuesday, said the debt service deductions were in respect of the Paris Club, London Club and Multilateral debts of the Federal and States Governments between 1995 and 2002.

President Muhammadu Buhari had approved the release of N522.74 billion as first tranche of payment to states.

Adeosun said: “These payments, which totaling N243,795,465,195, were made to the 36 states and the Federal Capital Territory upon the approval of the president on May 4, 2017.

“This is in partial settlement of long-standing claims by states governments relating to over-deductions from Federation Accounts for external debt service arising between 1995 and 2002.

“The funds were released to states governments as part of the wider efforts to stimulate the economy and were specifically designed to support states in meeting salaries and other obligations, thereby alleviating the challenges faced by workers.

“The releases were conditional upon a minimum of 75 per cent being applied to the payment of workers’ salaries and pensions for states that owe salaries and pension.

“The Federal Ministry of Finance is reviewing the impact of these releases on the level of arrears owed by states governments.

“A detailed report is being compiled for presentation to the Acting President, Prof. Yemi Osinbajo, as part of the process for approval for the release of any subsequent tranches.”

A breakdown of the payment, showed that Abia got N5.72 billion, Adamawa N6.11 billion, Akwa Ibom N10 billion, Anambra N6.12 billion, Bauchi N6.88 billion, Bayelsa N10 billion, Benue N6.85 billion, and Borno N7.34 billion.

Cross River got N6.08 billion, Delta N10 billion, Ebonyi N4.51 billion, Edo N6.09 billion, Ekiti N4.77 billion, Enugu N5.36 billion, Gombe N4.47 billion, Imo N7 billion, Jigawa N7.11 billion, and Kaduna N7.72 billion.

Kano got N10 billion, Katsina N8.2 billion, Kebbi N5.98 billion, Kogi N6.03 billion, Kwara N5.12 billion, Lagos N8.37 billion, Nasarawa N4.55 billion, Niger N7.2 billion, and Ogun N5.7 billion.

The others were: Ondo N7 billion, Osun N6.3 billion, Oyo N7.9 billion, Plateau N5.64 billion, Rivers N10 billion, Sokoto N6.44 billion, Taraba N5.61 billion, Yobe N5.41 billion, Zamfara N5.44 billion, and the Federal Capital Territory N684 million.

BIG STORY

Thousands Flock To Lagos For Africa’s Biggest Shopping, Entertainment Event [PHOTOS]

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Thousands of excited Nigerians attended the opening day of the much-anticipated maiden edition of the Lagos Shopping Festival (LSF) on Monday, December 23 and were served up an electrifying feast of events, activities and promotions across the the main venue of the festival, the iconic Mobolaji Johnson Arena, (formerly Onikan Stadium).

As advertised, first day of the festival lived up to its billing with a colourful blend of commerce, music, innovation and creativity following its flag off by the Executive Governor of Lagos State, Babajide Olusola Sanwo-Olu.

The Lagos Shopping Festival, powered by the Lagos State Government in collaboration with Chain Reactions Africa, a frontline PR firm, and supported by leading brands, including Zenith Bank, Tolaram Group, First Bank Plc, and Guinness, will see millions of people hit the main venue and select Lagos malls to bag the latest bargains, and bring together the best of city’s retail offering, showcasing local and top global brands and shopping experiences, including in-mall promotions.

Speaking at the event, Governor Sanwo-Olu described the LSF as a history-making festival of back-to-back shopping, fun, and entertainment, reaffirming the Lagos state’s commitment to grow small businesses as well as the entertainment industry.

“This is the first of its kind and this event is made to bring shoppers with MSMEs, with innovators, with entertainers, with the creative industry, with the food industry and everybody,” said Sanwo-Olu.

“For the next three days, we are meant to all come together, enjoy good food, good music, sales at discounted market price, shopping at the highest level and just general entertainment with the creativity of Lagos,” the Governor added.

He called on all Lagosians and Nigerian to join the fun, shopping and entertainment.

“Call everybody from Iyana-Ipaja to Alimosho, call people from Agege, call them from Ebute-Meta to Shomolu, call them from Bariga, from Badagry to Ikorodu, from Epe to Ibeju-Lekki, call everyone to come to the arena here at the Mobolaji Johson Center in Onikan where we’ll be doing shopping, we’ll be doing music, we’ll be doing entertainment for the next two days. This is the first of its kind”, Sanwo-Olu added.

He assured all fun-seekers, buyers and sellers of their safety, saying that they are in a safe, secure, peaceful environment, urging them to “to sit back, relax and see another Lagos creativity that is the first, and the very first Lagos Shopping Festival”.

Governor Sanwo-Olu expressed his appreciation to the sponsors of the Lagos Shopping Festival for their unwavering support to drive the story of Lagos commerce, entertainment and creativity.

“I want to thank all of our sponsors from FirstBank, to Zenith Bank, to Tolaram, to Smirnoff Ice, to Indomie Noodles, to OmniBiz, to PowerOil, to Minimie, and to Malta Guinness, all of them, including the Lagos State Government. I want to thank you”.

He also commended all the local and small businesses at the festival, and urged Lagosians and Nigerians to always patronize them.

“More importantly, to all the small businesses that are inside and under the canopies, go out there and make good deals. Go out there and do huge purchases from them. Go out there and make their small-scale market, work for them; because here, we want the market to be meeting all of the shoppers. That’s what this is all about. It’s about buying stuff at the most reduced market. It’s about entertainment, it’s about food, it’s about tourism. This is what Lagos has given to you again,” Sanwo-Olu said.

Also, commenting, the MD/ Chief Strategist, Chain Reactions Africa, the organisers of the Lagos Shopping Festival, Mr Israel Jaiye Opayemi, buttressed the strategic significance of the festival saying, “LSF is poised to be the catalyst that will redefine the true essence of commerce, especially SME businesses, the creative ecosystem, and fun times with family, friends and loved one. LSF is sure set to open a new vista of socio-economic growth from Lagos, to Nigeria, whilst raising a unique bar in the African market”.

Fun-seekers and business men and women alike had entertainment value for their time, with dancing and singing competition with the winners adjudged by the audience receiving cash gifts. The highlight of the day was the energy-revving musical performances from the youthful Ayo Maff, with the soulful rendition of songs from Adekunle Gold the icing on the cake for the audience who kept singing along to his enchanting stage performances.

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BIG STORY

JUST IN: Oriyomi Hamzat, Queen Naomi, School Principal Remanded In Agodi Prison Over Ibadan Stampede

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The Chief Magistrate Court sitting in Iyaganku, Ibadan, Oyo State has ordered the remand of Prophetess Naomi Silekunola, Alhaji Oriyomi Hamzat, and Mr. Abdullahi Fasasi at Agodi Correctional Center following their roles in the Ibadan Children Funfair stampede last week.

Amid heavy security, the three individuals, including the principal of Islamic High School, Bashorun Ibadan, Mr. Fasasi; the proprietor of Agidigbo FM, Alhaji Hamzat; and the estranged wife of the Ooni of Ile Ife, Oba Enitan Adeyeye Ogunwusi, Naomi Silekunola, were on Tuesday arraigned before the court over the incident.

The trio were arrested in connection with the Wednesday, December 18, 2024, stampede that occurred at Islamic High School, Ibadan, resulting in the death of 35 minors, while others sustained injuries.

Chief Magistrate Olabisi Ogunkanmi gave the order following the arraignment of the suspects in court on Tuesday.

The Police prosecutor accused the defendants of committing an offense contrary to Section 324 of the Criminal Code, Cap. 38, Vol. II, Laws of Oyo State of Nigeria, 2000 in a four-count charge for which they were arraigned.

The court premises was filled with relatives of the defendants and other interested parties.

 

More to come…

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BIG STORY

JUST IN: Dele Farotimi Finally Released After 21 Days In Detention

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Dele Farotimi has been released from detention in Ekiti after spending 21 days in a cell, following a complaint from Afe Babalola, SAN, who accused the human rights lawyer of defamation in his recently published book Nigeria And Its Criminal Justice System, a global bestseller on Amazon.

Farotimi was released on Tuesday after meeting the bail conditions set by an Ekiti Chief Magistrate’s Court on December 20, according to fellow activist Omoyele Sowore.

“I am pleased to report that Dele Farotimi is no longer being held at the prison yards in Ekiti State and is now returning home to Lagos,” Sowore shared the news on his X handle today.

“The struggle continues! Happy holidays to you all!”

 

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