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We’ve Spent $7bn Waging War Against Poverty Since 2015 — FG

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The federal government says it has earmarked about $7 billion within the last seven years in its efforts to pull 100 million Nigerians out of poverty through its National Social Investment Programme in the country.

Sadiyya Farouq, the Minister of Humanitarian Affairs, Disaster Management and Social Development, stated this while delivering her keynote address during the flag-off of the N-Skills, Pilot 2, which was held on Tuesday at the Professor Iya Abubakar Resource Center, Bauchi.

According to her, President Muhammadu Buhari has since assumed office in 2015 given great priority to addressing the plights of the poor and vulnerable people across the country.

She said the N-Ship had become one of the largest social protection programs in the African continent with $1 billion budgeted annually.

“Since the inception of President Muhammadu Buhari’s administration in 2015, the Federal Government has paid more attention to promoting the plight of the poor and vulnerable in the country despite the economic slump the administration inherited,” she said.

“This informed the decision to initiate the National Social Investment Programme (NSIP) as a strategy for enhancing social inclusion. NSIP is one of the largest social protection programs in Africa with about $1billion earmarked annually to cause positive change in the lives of the poorest and most vulnerable in the country.

“Since its introduction in 2016, the program has impacted positively on the lives of the poor and vulnerable in Nigeria. I have personally witnessed the life-changing experiences of people who lived below the poverty line and those that are vulnerable to shocks,” she said.

Farouq said that in furtherance to Buhari’s approval for the restructuring of NSIP, and in line with the National Poverty Reduction with Growth Strategy, the Ministry instituted processes to revamp and expand the NSIP and to make it more impactful on the economy and citizens.

She noted that this led to the introduction of the N-Skills program, which was based on a certification system and accreditation of training provided through the informal Apprenticeship System anchored by Master Craft Persons, and through the formal training system using the Community Skills Development Centres.

According to her, the program targeted the marginalized and disadvantaged population, including those with primary education as well as those not in any Education, Employment, or Training.

She stressed that it aimed to improve the quality and relevance of skills delivered using a nationally standardized certification system on one hand, and to ease the transition of target beneficiaries to full-time skilled employment or self-employment, on the other hand, to help in bridging the gap in demand for standard and market-relevant skills.

BIG STORY

BON Awards Hosts Memorable Book Reading Of Do As You’re Told Baji

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On November 24th, 2024, the Best of Nollywood (BON) Awards organized a captivating book reading of Do As You’re Told, Baji, authored by the renowned writer Lola Shoneyin. The event, held at 11 a.m. in Kwara State, celebrated the power of storytelling and the importance of fostering a culture of reading among families.

Among the distinguished attendees were the First Lady of Kwara State, Ambassador Olufolake AbdulRazaq, alongside notable figures such as Wole Ojo, Cynthia Clarke, Chioma Okafor, Segun Arinze, and Kemi Adekomi, who added prestige and insight to the event.

In her remarks, Ambassador Olufolake AbdulRazaq highlighted the vital role of parents in fostering a love for reading among children. “Parents should cultivate the habit of reading with their children,” she said. “It’s not just about education—it’s about creating lasting memories and strengthening family bonds.”

The reading of Do As You’re Told, Baji showcased Lola Shoneyin’s vibrant and relatable storytelling, leaving participants inspired to embrace literature as a means of cultural and personal enrichment. The event also featured engaging discussions about the book’s themes, celebrating the depth and diversity of Nigerian literature.

This initiative reinforces the BON Awards’ dedication to promoting the arts, literacy, and the celebration of Nigerian creative talents.

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BIG STORY

An Aspirant Gave Each Delegate $30,000 During PDP Primary In 2022 — Dele Momodu

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Dele Momodu, publisher of Ovation Magazine, says he regrets spending about N50 million to buy the presidential nomination form of the Peoples Democratic Party (PDP) in 2022.

Momodu spoke in a recent interview on Eden Oasis, published on Sunday.

The journalist and politician said the primary was heavily monetised, with a particular aspirant doling out $30,000 to each of the 774 delegates who voted during the election.

The politician stated that he would not vie for any party’s presidential ticket unless he is adopted as a consensus candidate.

“Experience is the best teacher. I have come to realise that there are powers that you can describe as principalities that control Nigeria,” he said.

“Unless a major political party decides to adopt me — where you have a consensus of people who say Dele Momodu is best suited to change and to lead Nigeria. Then I will consider it.

“But if I have to pick my money to buy a presidential nomination form of about N100 million… I spent about N50 million to buy the form for the last one.

“N50 million would have bought me a property. It was a waste. I didn’t get even one vote because everything was monetised.

“One of the candidates paid as much as $30,000 per delegate, and we had 774 delegates.

“So, how do you want to compete with them? They have stolen the country blind and are doing all kinds of deals to make money, especially those in the oil-rich areas.

“It is not easy. You can’t compete with them. That’s why they insult Nigerians anyhow because of the amount of money available to them in raw cash. There’s no country where people buy raw cash like Nigeria.

“The bulk of their money is not in any bank. So, they are not traceable to any bank. So, they have the money. If today you say to some politicians that you need $500 million to become a president, they will find it.

“So, people like us, where will I start from?”

Momodu was one of the presidential hopefuls of the PDP at the time. He did not secure any votes during the exercise.

Atiku Abubakar clinched the presidential ticket with 371 votes to beat his closest challenger, Nyesom Wike, now minister of the federal capital territory (FCT), who polled 237 votes.

Abubakar was defeated by Bola Tinubu of the All Progressives Congress (APC) in the 2023 presidential election.

Bukola Saraki, former senate president, scored 70 votes; Bala Mohammed, Bauchi governor, got 20 votes; Udom Emmanuel, former governor of Akwa Ibom, secured 38 votes; while Pius Anyim, former secretary to the government of the federation, polled 14 votes.

Sam Ohuabunwa, a businessman, alongside Momodu and Ayodele Fayose, the former governor of Ekiti, received zero votes.

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BIG STORY

Nigeria Has Saved $20bn From Subsidy Removal, Naira Float Policies — Finance Minister Edun

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Wale Edun, minister of finance and coordinating minister of the economy, says Nigeria has saved $20 billion from “petrol” subsidy removal and market-based pricing of the foreign exchange rate.

Edun spoke at a ceremony recently held to mark the first 100 days in office of Esther Walso-Jack, head of civil service of the federation, in Abuja.

“An amount of five per cent of GDP is what those two subsidies were costing when there was a subsidy on “PMS”; when there was petroleum product generally for a long time and when there was a subsidy of foreign exchange. Between them, they were costing five percent of GDP,” he said.

“If you say GDP was on average, let’s say $400 billion. We all know what five percent of that is – $20 billion of funds that could be going into infrastructure, health, social services, education.”

Edun said these flows now return into the government’s coffers for further deployment to the aforementioned sectors.

“The real change that has happened with the measures of Mr. President is that nobody can wake up and their target for the day or for the week or the month or the year is to get access to cheap funding, cheap funding exchange from central bank, which they can now flip,” Edun said.

“And overnight, they become wealthy from no value added for doing virtually nothing, except you know the right people. Similarly, they can no longer try and be part of a new peak market and very inefficient “petrol” subsidy regime as a way of making money overnight.”

On May 29, President Bola Tinubu said the “petrol” subsidy regime was over.

Three months later, TheCable reported that Tinubu was considering a “temporary subsidy” on “petrol” as crude oil prices and foreign exchange rates soared.

After several denials of the return of “petrol” subsidy by the authorities, the Nigerian National Petroleum Company (NNPC) Limited, on August 19, said the federal government owes it N7.8 trillion for under-recovery.

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