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FG To Borrow $750m From World Bank For States To Stimulate Local Economy, Support Vulnerable Household Consumption

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The federal government is planning to borrow $750 million on behalf of states to stimulate local economies in Nigeria.

Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, made this disclosure in Abuja on Friday at the inauguration ceremony of the Federal Steering Committees of the Nigeria COVID-19 Action Recovery and Economic Stimulus (N-CARES).

According to the Finance Minister, the Nigerian Government “is in the process of accessing a World Bank loan of $750 million on behalf of the states to stimulate the local economy and support vulnerable household consumption”.

In going to borrow the money, the federal government is considering the causes and consequences of civil unrest and COVID-19 in the country.

Zainab Ahmed stated that: “the consequences will be too high if we ignore the root cause of rising civil unrest in our country. We must, therefore, fashion out ways of ensuring that post-Covid-19 is not injurious to the Nigerian people and the economy.”

The Finance Minister noted that “the federal government has created several windows of interventions as captured in the Economic Sustainability Plan (ESP) to, among other things, respond robustly and appropriately to the challenges posed by the COVID-19 pandemic, identify fiscal measures to enhance oil and non-oil government revenues and reduce non-essential spending”.

Speaking on the need for proper implementation, Ahmed stated that “to ensure that the implementation of the N-CARES is in line with the federal government priorities as outlined in the ESP, the Federal Steering Committee, made up of ministers and permanent secretaries as well as a Technical Committee, made up of directors of key ministries, departments and Agencies (MDAs) has to be in place”.

According to her, the government has carefully selected the “members of the Federal Steering and Technical Committees because of the important role your MDAs play in the recovery of the Nigerian economy as well as the fulfilment of lifting 100 million people out of poverty.”

On the expediency of the inauguration of the committee, the Finance Minister said, “the inauguration of the committees “is expedient given the nature of this emergency intervention; Nigeria as the biggest economy in Africa cannot afford to remain in recession; the survival of over 200 million population is germane to all we do and we must address the concerns of the majority of our populace”.

Members of the Federal Steering Committee will provide an overall policy direction for the implementation of this programme and advise Mr. President appropriately, while the Federal Technical Committee will be responsible for the programme oversight, overall guidance, support, coordination, strategic direction, review and approval of the annual work programme as well as budget for the Federal CARES Support Unit (FCSU).

The members of the Steering Committee of the Nigeria CARES Programme, are: Minister of State, Budget and National Planning (BNP) FMFBNP- Chairman; Minister of State-Federal Ministry of Agriculture and Rural Development (FMARD); Minister of State-Federal Ministry of Industry, Trade and Investment (FMITI); Minister of State-Federal Ministry of Labour and Employment (FMLE); Minister of State-Federal Ministry of Environment (FMEnv); Minister of State-Federal Ministry of Education (FME); Permanent Secretary, Budget & National Planning (BNP); Permanent Secretary, Federal Ministry of Finance (BNP); Permanent Secretary, Ministry of Humanitarian Affairs (MHDMSD); Permanent Secretary, Federal Ministry of Water Resources (FMWR); Executive Director NGF Secretariat; Chairman Federal CARES Technical Team (FMFBNP) – Secretariat.

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Man Faints After Discovering His Wife Is His ‘Landlord’

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A Zambian man identified as Martin Stampa reportedly collapsed after discovering his wife is his “landlord.”

Local news platforms reported that Stampa lived in the house for 15 years, and was paying 3500 kwacha every month. It was also gathered that his wife was the one who always took the rent to his “landlord.”

However, an altercation ensued after the lady identified as Lushomo discovered that her husband was having an extramarital affair. Martin reportedly told his wife that he got a side chick because he wanted someone who was intelligent and engages in smart conversations.

This riled Lushomo, who ended up spilling the beans and telling Martin that he’s not intelligent enough as he has been paying her a monthly rent because the house they live in belongs to her.

On seeing the house’s title deeds, Martin lost consciousness and collapsed. People had to drench him with bucketfuls of water to wake him up.

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My Administration Has Brought Visible Developments To The State, Lagosians Will Re-Elect Me In 2023 – Sanwo-Olu

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Governor Babajide Sanwo-Olu of Lagos State has said he is confident that the electorates in the state will re-elect him to steer the affairs of the state for another four years given his record of achievements.

He spoke during a chat on Channels TV’s Sunday Politics program.

Governor Sanwo-Olu, alongside 14 others, will be jostling for the governorship seat in 2023.

He said his administration had brought in development that can be seen and felt by the state’s residents.

“I managed the emergency of the city. Today alone, there are emergencies that have been reported today alone. I’ve recruited over 650 fire service men. I’ve bought 64 brand new trucks that you will come, I will invite you for commissioning.

“I spent over a billion to take off the refuse in Lagos. We’re creating a sanitary landfill site. That’s what we’re doing. We’re building 1618 kilometres of rigid pavement road that runs to tens of billions. We’re building the biggest market in the country because that’s what we’re doing.”

When he was asked if he saw one of his challengers, Olajide Adediran of the PDP, and his deputy, Funke Akindele, a filmmaker, as a threat, Sanwo-Olu said he is the most preferred candidate because he is more experienced.

“So you know, like I said if you have an emergency, who would you call? What are your chances? Do you call the man that has the experience that has gone through the trenches before that has lived with it that understands what the issues are,” he said.

“That appreciate what challenge you have even at 3 a.m. or will you leave your chance to someone that doesn’t know where the dial is or that doesn’t even know what the issues of governance are? This is Lagos.

“This is an informed audience. This is not a tea party. We’re talking about real governance. We’re talking about the lives of 20-plus million Nigerians.

Sanwo-Olu added that Lagos cannot be left in the hands of someone who “cannot run a business that has 100 people.”

The Governor noted that traffic robberies and accidents have significantly reduced following the directive on motorcycle (okada) transportation.

Okada riders were banned by the governor from plying in six local government areas in the state – Eti-Osa, Ikeja, Surulere, Lagos Island, Lagos Mainland, and Apapa and nine local government councils areas.

It is not the first time the government would impose the measure.

In January 2020, the government banned the operation of motorcyclists in 15 local councils across the state.

The governor said that since he gave the directive to restrict the motorcyclists in certain areas of the state, residents have written to him commending the development.

“We’ve also seen a significant drop in accidents. You know, we don’t see people being lame, you know, cutting off limbs in our hospitals again, because these were reckless driving that usually terminate people’s life, unexpectedly,” he said.

“We’ve seen tremendous improvement in that statistics to support. In terms of death drop in the last two months. At the peak of it, we saw about 550 Okada-related accidents at the peak of it in January for over a month.

“Now, it’s coming down to less than 100 direct Okada accidents that we’ve seen, from our hospitals.”

On Amotekun, Sanwo-Olu said there is no need to replicate the Western Nigeria Security Network called in Lagos.

He said the Lagos State Neighbourhood Safety Corp is a replica of the security outfit which “works closely” with the Nigerian Police Force.

“We have the Lagos State Neighbourhood Watch, which are almost 7,000 men that have been trained, that have been energized and are working day to day in the state,” he said.

“There’s no need to reinvent the wheel.”

Since its establishment in 2020, the security outfit has been operational in five states in the South-west except for Lagos.

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HEALTH: Nigeria Records 157 Monkeypox Cases, Four Deaths

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The Nigeria Centre for Disease Control (NCDC) has confirmed 157 cases of monkeypox across 26 states in the country.

This is contained in its latest monkeypox situation report for week 30, posted on its verified Twitter page.

According to the report, four deaths were recorded in 4 states – Delta (1), Lagos (1), Ondo (1), and Akwa Ibom (1) from January 1 to July 31, 2022.

So far, Nigeria has at least 413 suspected cases of monkeypox.

The report read in part, “There were fifty-six (56) new suspected cases reported in Epi week 30, 2022 (25th to 31st July 2022) from nineteen (19) states – Ondo (13), Plateau (8), Lagos (6), Adamawa (4), Abia (3), Borno (3), Delta (2), Kano (3), Anambra (2), Bayelsa (2), Kwara (2), Akwa Ibom (1), Gombe (1), Imo (1), Nasarawa (1), Osun (1), Oyo (1), Rivers (1) and Taraba (1).

“Of fifty-six (56)suspected cases, there were twenty-four (24) new confirmed positive cases in Epi week 30, 2022 from twelve (12) states – Ondo (5), Kano (3), Lagos (3), Abia (2), Adamawa (2), Bayelsa (2), Kwara (2), Delta (1), Anambra (1), Gombe (1), Rivers (1) and Nasarawa (1).

“From 1st January to 31st July 2022, there have now been 413 suspected cases and 157 confirmed cases (105 male, 52 female) from twenty-six (26) states – Lagos (20), Ondo (14), Adamawa (13), Delta (12), Bayelsa (12), Rivers (11), Edo (8), Nasarawa (8), Plateau (6), Anambra (6), FCT (5), Taraba (5), Kwara (5), Kano (5), Imo (4), Cross River (3), Borno (3), Oyo (3), Abia (3), Gombe (3), Katsina (2), Kogi (2), Niger (1), Ogun (1), Bauchi (1) and Akwa Ibom (1).

“Four deaths were recorded from 4 states – Delta (1), Lagos (1), Ondo (1), and Akwa Ibom (1).

“Overall, since the re-emergence of monkeypox in September 2017 and to 31st July 2022, a total of 925 suspected cases have been reported from 35 states in the country.”

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