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SUBSIDY: Hope Uzodimma Fires Back At World Bank, Says Nigeria Trusts CBN For Sound Economic Policies

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The executive governor of Imo State, Hope Uzodimma, says the country will continue to rely on the Central Bank of Nigeria (CBN) to secure the country’s economy.

Uzodimma said this on Friday while speaking with state house correspondents after meeting with President Muhammadu Buhari.

The World Bank had said the current petrol subsidy regime poses an “existential threat” to Nigeria, adding that the country would have to eventually get rid of the arrangement.

In response to this, the governor said the bank’s projections were perpetually inaccurate.

“Our own bank is Central Bank of Nigeria and we are going to look up to them to come up with policies that will protect and secure our economy,” he said.

Uzodimma added that “25 years ago, before 1999, the World Bank had always said Nigeria will break into pieces and today Nigeria has not been broken into a half piece”.

“This country is loved by God and our faith in God has been keeping this country,” he said.

According to him, the country has allies who are “friendly enemies”, internationally and nationally, but Nigeria continues to exist.

“There is nowhere in the world you will go and the gas stations you will see are not Shell, ExxonMobil, Texaco Overseas, all the major oil producing companies,” he said.

“It is only in Nigeria that you will hear languages like independent marketers, Okafor & Sons Filling Station and all that. What is the World Bank saying about that?

“It is only in Nigeria you talk about subsidy. What is World Bank saying about that?

“It is only in Nigeria you hear jargons like turnaround maintenance. Where else in the world do you have such language?

“A refinery is a process plant that requires just routine maintenance and cleaning, but here we spend billions of dollars to do what they call turnaround maintenance.

“If you have been to the United States, Texas in particular, where crude oil production is heavy, when you are arriving Houston airport, look at the environment; they plant vegetables, farmers live there, an environment where they produce crude oil.

“What is the cost of producing one barrel of crude oil in Houston by Shell and what is the cost of producing one barrel of crude oil by Shell in Nigeria?

“But if you are landing in Warri Airport, look at the local river, there is no fish anymore, the place is highly polluted. There’s total disregard to our environmental laws and nobody’s raising all these issues, rather what we want to occupy ourselves with is knowing a party that has Muslim-Muslim ticket and a party that has Christian-Christian ticket.

“So, they are making a mockery of us and if we don’t rise up and address our challenges, nobody, I repeat, nobody, will do it for us. We have to define our country, we have to identify, collectively, our national interest so we can also collectively defend it.”

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MOHBAD: Reps Observe Moment Of Silence, Promise To Monitor Ongoing Probe

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Nigeria’s House of Representatives on Tuesday observed a moment of silence for the late 27-year-old Afrobeats singer Ilerioluwa Aloba, better known as Mohbad, who died two weeks ago.

The lower chamber paid the tribute at the beginning of an executive session at the resumption of plenary in Abuja.

Following a motion of urgent importance by the member representing the Ikorodu Federal Constituency, Mr Babajimi Benson, the House further resolved to monitor the investigation surrounding his death and royalties accruing to him.

Benson called for a review of relevant laws guiding the entertainment industry as well as copyright laws, while expressing concerns about the contracts and agreements that entertainers are compelled to sign.

 

Feature Image credit: Channels TV

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Impeached Ogun LG Chairman Wale Adedayo Arraigned, Remanded At Correctional Centre

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Wale Adedayo, the impeached chairman of the Ijebu East Local Government (LGA), has been arraigned by the Ogun State Police Command on a two-count charge for allegedly publishing an alleged false story about local government funds diversion by the state government.

This follows a petition filed by the state government over the alleged zero allocation and diversion of local government funds by the state government, an allegation which has been denied by the government.

Adedayo, who was arrested by the police on Monday, has since been arraigned at the Customary Court 2 in the Isabo area of Abeokuta, the state capital.

The defendant pleaded not guilty to the two-count charge proffered against him.

The counsel to the defendant, Kayode Akinsola, prayed for the court to grant his client bail, promising that the defendant would not jump bail if granted and would honour all conditions attached to the bail application to which the prosecuting counsel, Olaide Rolly, did not object.

Delivering her judgement for the bail application, the presiding judge, A K Araba, admitted the defendant to bail of N2 million and two sureties with landed properties, among others within the jurisdiction of the court.

The case has however been adjourned till October 20 for the next hearing while the defendant has been remanded at the Ibara Correctional Centre in Abeokuta.

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NOVA Merchant Bank Uplifts 50 Young Lives Through Paediatric Surgical Intervention

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NOVA Merchant Bank, a leading merchant bank in Nigeria, has sponsored a Pediatric Surgical Intervention, as part of its 2023 Environmental, Social and Governance (ESG) program, specifically within its UPLIFT initiative project.

This initiative, conducted in partnership with the Association of Paediatric Surgeons of Nigeria (APSON), positively impacted 50 indigent child patients at Lagos State University Teaching Hospital (LASUTH) on Monday, September 18, 2023.

APSON is the umbrella body of all Paediatric Surgeons in Nigeria engaged in the treatment of surgical issues in children, the education and training of specialists in Pediatric surgery, and the enhancement and preservation of the high standards and quality of surgical care provided to children.

This collaboration exemplifies NOVA’s unwavering commitment to community development and its dedication to impacting lives through its UPLIFT Initiative projects aimed at creating “Today’s solution for tomorrow’s sustainability (UPLIFT).”

Speaking on the motivation behind NOVA’s intervention, Mr Nath Ude, Managing Director of NOVA Merchant Bank, said, “NOVA envisions a future in which millions of people have free or low-cost access to healthcare and where unnecessary pain caused by preventable illnesses and untimely fatalities can be mitigated. This intervention is a stride towards achieving this vision.” He added that, “No child should be deprived of their promising future due to a lack of healthcare accessibility” noting that the impact of this project will echo through lifetimes to come.

Emphasizing the pivotal role of NOVA’s intervention, the President of APSON, Professor Roland Osuoji, said, “In the past year, Lagos state heavily subsidized paediatric operations for children between the ages 0-12 which have resulted in a growing waiting list, stretching until 2025.” He added that, “This initiative not only reduces the backlog but also saves lives and offers hope to these deserving families.

Commenting on the patient selection process, Dr Omolara Williams, the Local Organizing Committee Chairman of the medical outreach, said, “We surveyed our group of patients from our database and pinpointed those who were on the waiting list due to financial constraints. We made every effort to contact as many of them as possible, and as a result, we now have patients ranging from 1 to 14 years old who will receive treatment for their pediatric conditions through this intervention.” She further emphasized the need for continued regional and national initiatives like this to bridge the gap in paediatric surgical care accessibility.

Expressing appreciation for NOVA’s intervention, the LASUTH Chief Medical Director (CMD), Prof Adetokunbo O. Fabamwo, said, “This collaboration reflects a shared vision of a healthier and brighter future for children in Nigeria.” He noted that this meaningful impact is not just mending bodies but also building dreams.

NOVA Merchant Bank Limited is an investment grade-rated merchant bank in Nigeria, offering an integrated suite of financial solutions encompassing Financial Intermediation, Wholesale and Investment Banking, Asset and Securities Management, Trade Services, Cash Management, Transaction, and Digital Banking.

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