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June 14, 2024 World Bank Approves $2.25bn For Economic Reforms In Nigeria
IFMNEWS

World Bank Approves $2.25bn For Economic Reforms In Nigeria

The World Bank has sanctioned a $2.25 billion loan for Nigeria aimed at stabilizing its economy through reforms and bolstering assistance to the impoverished. Wale Edun, Nigeria’s Finance Minister, revealed this development on Thursday. In April, Mr. Edun had previously announced Nigeria's qualification for and intention to secure the $2.25 billion loan from the World Bank. The loan is anticipated to play a crucial role in supporting Nigeria's economic recovery efforts amidst ongoing challenges.

According to a statement from Mohammed Manga, spokesperson for the Ministry of Finance, the approved funding encompasses $1.5 billion allocated to the Nigerian Reforms for Economic Stabilisation to Enable Transformation (RESET) Development Policy Financing Programme (DPF) and $750 million for the Nigeria Accelerating Resource Mobilisation Reforms (ARMOR) Programme-for-Results (PforR). This total of $2.25 billion is set to provide essential financial and technical assistance as the government continues to address economic imbalances.

The statement highlights that these funds will aid Nigeria in its objectives to boost non-oil revenues and ensure fiscal sustainability, enabling the delivery of high-quality public services. Mr. Edun expressed gratitude for the World Bank's support and stressed the importance of these reforms in achieving sustainable and inclusive economic growth, generating jobs, and creating economic opportunities for all Nigerians.

He noted that the RESET initiative aims to strengthen Nigeria’s economic policy framework, create fiscal space, and protect vulnerable populations. Meanwhile, the ARMOR PforR program will support tax and excise reforms, enhance tax revenue and customs administration, and safeguard oil revenues.

Ousmane Diagana, the World Bank’s Vice President for Western and Central Africa, commended Nigeria’s efforts in reshaping its economy, emphasizing that comprehensive macro-fiscal reforms could stabilize the economy and reduce poverty. Diagana underscored the importance of sustaining these reforms and continuing to support vulnerable populations to mitigate the impact of the cost-of-living crisis.

June 14, 2024 Court Mandates Kano Government to Compensate Deposed Emir Bayero with N10m
IFMNEWS

Court Mandates Kano Government to Compensate Deposed Emir Bayero with N10m

A Federal High Court in Kano has ruled that the Kano State Government must pay N10 million in damages to deposed Emir Alhaji Aminu Ado Bayero for violating his fundamental rights. The court, having established jurisdiction over Bayero's rights violation case, also mandated the state government to ensure his right to movement and personal liberty.

Justice Simon Amobeda, presiding over Federal High Court 3, emphasized the necessity of jurisdiction in legal proceedings, asserting that any action without it is invalid. He underscored the court's duty to protect citizens' rights, noting that Bayero provided compelling evidence of rights abuses, including a public declaration by the Governor of Kano State in May 2024 that Bayero had been deposed and should be arrested.

The judge condemned the government's actions, stating they constituted unlawful confinement and infringed upon Bayero's constitutional rights to liberty and freedom of movement as guaranteed under Sections 35(1) and 41(1) of the 1999 Constitution. As a result, the court ordered the government to pay N10 million as compensation for breaching Bayero's rights.

Furthermore, the court issued an injunction preventing the police, DSS, and other authorities from arresting or harassing Bayero, ensuring his protection from further rights violations.

June 14, 2024 NCDC Issues Warning about Cholera Epidemic
IFMNEWS

NCDC Issues Warning about Cholera Epidemic

The Nigeria Centre for Disease Control and Prevention (NCDC) has issued a warning regarding a rise in cholera cases across the country, reporting 30 deaths, 1,141 suspected cases, and 65 confirmed cases between January and June 11, 2024. According to Dr. Jide Idris, the Director-General of NCDC, these cases have been identified in 96 local government areas spanning 30 states.

Dr. Idris highlighted those ten states—Bayelsa, Zamfara, Abia, Cross River, Bauchi, Delta, Katsina, Imo, Nasarawa, and Lagos—have contributed significantly to the cholera burden, accounting for 90 percent of the cases. He emphasized the importance of vigilance as the rainy season exacerbates the spread of cholera.

Dr. Idris stated, "Recently, an outbreak was reported in Lagos State," underscoring the situation's urgency. In collaboration with the National Cholera Technical Working Group comprising various federal ministries, WHO, UNICEF, and other partners, the NCDC has been actively supporting affected states. Their efforts include risk communication, case detection, laboratory testing, treatment, provision of response supplies, and hygiene education through local and English awareness campaigns.

Cholera, a water and foodborne illness caused by Vibrio cholera bacteria, spreads through contaminated water and food, often contaminated by infected individuals' feces. Dr. Idris advised preventive measures such as ensuring access to clean drinking water, proper sanitation, and hygiene practices like frequent handwashing with soap and boiling water before consumption. He also emphasized the importance of thorough cooking of food, avoiding open defecation, and proper waste disposal to mitigate the risk of cholera transmission.

June 14, 2024 The Association of Local Government of Nigeria Expresses Concerns Over Proposed N62,000 Minimum Wage
IFMNEWS

The Association of Local Government of Nigeria Expresses Concerns Over Proposed N62,000 Minimum Wage

The Association of Local Government of Nigeria (ALGON) has voiced apprehension regarding the proposed N62,000 minimum wage, warning that its implementation could significantly strain the financial capacities of local councils across the country.

Recently, the Federal Government cautioned organized labor about the broader economic ramifications of pushing for what it termed an unrealistic hike in the national minimum wage. Minister of Information and National Orientation, Mohammed Idris, emphasized that the suggested N250,000 minimum wage demand by labor unions could potentially destabilize the economy, trigger mass layoffs, and jeopardize the welfare of Nigerians.

Contrary to President Bola Tinubu’s assertions during his Democracy Day address that an agreement had been reached on the new national minimum wage, labor unions disputed this claim.

Speaking on a monitored program on Thursday, ALGON National President Aminu Muazu-Maifata expressed skepticism about the feasibility of local governments meeting the proposed N62,000 minimum wage. He highlighted that many of the 774 local government areas (LGAs) are still grappling with the payment of the current N30,000 minimum wage approved in 2019.

"The current allocation from the Federation Account is inadequate for local government councils to meet the proposed N62,000 minimum wage," Muazu-Maifata stated. "Currently, approximately 90% of our revenue from the Federation Account is allocated to salaries and pensions. Without a revision in the allocation percentage to local governments, it will be exceedingly challenging, if not impossible, to meet the proposed wage increase."

He further elaborated, "Local government councils presently receive slightly over 18% of the total Federation Account Allocation Committee (FAAC) funds, whereas the federal government receives over 52%. Some councils are still struggling with the N18,000 minimum wage and have not yet fully implemented the N30,000 wage. With the current allocation structure, local governments simply cannot afford an increase to N62,000."

Muazu-Maifata, who also serves as chairman of Lafia Local Government in Nasarawa State, emphasized that local governments shoulder numerous responsibilities beyond salary payments. He advocated for a comprehensive consideration of these obligations when evaluating the affordability and sustainability of any proposed minimum wage increase.

In conclusion, Muazu-Maifata underscored that should the proposed minimum wage legislation be enacted, local governments would have to seek financial assistance from governors and the Federal Government to bridge the funding gap.

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