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November 20, 2024 Oluremi Tinubu: Gender Equality is Essential for a Peaceful Society

Oluremi Tinubu: Gender Equality is Essential for a Peaceful Society

The First Lady of Nigeria, Senator Oluremi Tinubu, has called for sustained efforts to achieve gender equality, emphasizing its importance in building a peaceful, equitable, and sustainable society.

Speaking at the 2024 Gender Conference on Tuesday at the University of Lagos, Tinubu underscored the need for justice, equity, and empowerment as cornerstones of societal advancement.

Gender equality is essential for achieving a peaceful and equitable society,” Tinubu affirmed during her keynote address. Represented by Mrs. Maryam Obadina, she highlighted the global importance of empowering women and girls, stating, “Women and girls represent half of the world’s population and potential. Empowering them is critical for productivity and economic growth.”

The First Lady also reflected on her personal experiences in politics, shedding light on the obstacles women face in leadership and decision-making.

“For 12 years, I worked in politics without the numbers to influence policies that directly impacted women. For example, I couldn’t effectively challenge harmful laws like child marriage, which severely affect young girls,” she shared.

Encouraging women to take initiative, Tinubu urged them to seize opportunities and not wait for them to be handed over. “Be bold, stay informed, and create your own opportunities. Hard work and faith go hand in hand,” she advised.

In a goodwill message, the First Lady of Oyo State, Tamunominini Makinde, echoed Tinubu’s sentiments, emphasizing that gender equality benefits everyone.

“Gender equality is not just about women. A man can be a nurse, and a woman can be a pilot or a lawyer. It’s about having the opportunity to pursue your dreams irrespective of gender,” Makinde said.

She further encouraged women entering male-dominated fields to prepare thoroughly, adding, “Ask yourself: How well do you know the field? Who has succeeded in it before you? What can you do better? These questions will help you build a solid foundation.”

The conference served as a platform for inspiring dialogue and reaffirmed the commitment to breaking barriers and creating opportunities for all, regardless of gender.

November 19, 2024 Tinubu Seeks NASS Approval for ₦1.77 Trillion New External Loan

Tinubu Seeks NASS Approval for ₦1.77 Trillion New External Loan

President Bola Tinubu has formally requested the National Assembly to approve a new external borrowing of ₦1.767 trillion (approximately $2.209 billion) as part of the 2024 budget. The funds are intended to partially finance the ₦9.7 trillion deficit outlined in the 2024 appropriation bill.

The President's request, delivered during Tuesday’s plenary session, was accompanied by the submission of the Medium-Term Expenditure Framework/Fiscal Strategy Paper (MTEF/FSP) for 2025–2027 and an amendment bill to establish the National Social Investment Programme (NSIP). The proposed amendment aims to position the social register as the primary tool for implementing federal social welfare initiatives.

This development comes amid growing concerns about Nigeria’s rising debt servicing obligations. Data from the Central Bank of Nigeria (CBN) reveals that the Federal Government spent $3.58 billion servicing foreign debt in the first nine months of 2024, a 39.77% increase compared to $2.56 billion during the same period in 2023. The highest monthly debt service payment occurred in May 2024, totaling $854.37 million, significantly higher than the $221.05 million recorded in May 2023.

The escalating cost of debt servicing reflects Nigeria’s increasing dependence on external borrowing, compounded by the weakening naira, which has devalued from₦899.39/$1 in December 2023 to ₦1,470.19/$1 by June 2024. This has significantly increased the naira-denominated value of the nation’s foreign debt.

At the state level, Nigeria’s 36 states collectively reported a debt increase to ₦11.47 trillion as of June 2024, up from ₦10.01 trillion in December 2023. This growth, driven partly by the devaluation of the naira, contrasts with a reduction in domestic debt from ₦5.86 trillion to ₦4.27 trillion.

A report by BudgIT highlights the fiscal challenges faced by state governments, noting that 32 states relied on federal allocations for at least 55% of their revenue in 2023. Lagos State stood out as the most self-sufficient, contributing ₦1.24 trillion to the combined revenue of all 36 states, while also holding the highest foreign debt of $1.24 billion.

Despite the rise in revenue for states—up 31.2% from ₦6.6 trillion in 2022 to ₦8.66 trillion in 2023—the report underscores the over-reliance on federally distributed revenue, exposing states to economic shocks tied to crude oil prices and external factors.

The ongoing reliance on federal allocations highlights the urgency of fiscal reforms to improve internally generated revenue and reduce vulnerability to external economic pressures.

November 19, 2024 Presidency Shake-Up: Tinubu Appoints Bwala and Dare as Co-Spokespersons Alongside Onanuga

Presidency Shake-Up: Tinubu Appoints Bwala and Dare as Co-Spokespersons Alongside Onanuga

President Bola Tinubu has appointed Sunday Dare and Daniel Bwala as co-spokespersons alongside Bayo Onanuga in a recent restructuring of the presidency’s communications team.

The announcement was made on Monday in a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy. The statement clarified that there will no longer be a single spokesperson for the presidency. Instead, Dare and Bwala will join Onanuga as part of a collaborative team handling government communications.

Sunday Dare, previously designated as Special Adviser on Public Communication and National Orientation, has been re-assigned as Special Adviser on Media and Public Communications. Meanwhile, Daniel Bwala, who was announced last week as Special Adviser on Media and Public Communication, will now serve as Special Adviser on Policy Communication.

The presidency explained that the shake-up aims to improve the consistency and effectiveness of communicating government policies, decisions, and engagements.

“President Bola Tinubu has re-designated the positions of two recently appointed officials in the State House media and communications team to enhance efficiency within the government’s communication machinery,” the statement read.

The new structure ensures that the three Special Advisers—Dare, Bwala, and Onanuga—will collectively act as spokespersons for the presidency. This move, according to the presidency, underscores a collaborative approach to public communication, allowing for a more comprehensive representation of the government’s voice.

November 19, 2024 Wike Approves ₦70,000 Minimum Wage for FCT Workers

Wike Approves ₦70,000 Minimum Wage for FCT Workers

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has approved the immediate implementation of the ₦70,000 minimum wage for all FCT administration staff.

This announcement was made in a statement issued by Anthony Odeh, Press Secretary to the Head of the Civil Service of the FCT, on Tuesday.

The approval follows the signing of the Minimum Wage Bill into law by President Bola Tinubu in May 2024, which set the minimum wage at₦70,000 after extensive negotiations with organized labor.

The decision comes amid tensions, as the FCT chapters of the Nigerian Labour Congress (NLC) and the Trade Union Congress (TUC) had threatened to join a nationwide strike on November 30, 2024. The unions cited the delayed implementation of the minimum wage in some states, including the FCT, and alleged that the Wike-led administration had not engaged with labor unions since his inauguration in August 2023.

To address these concerns, Wike approved the payment on Monday, November 18, 2024, along with three months of arrears for all FCT administration staff, effective from November 2024.

According to the Acting Head of Civil Service of the FCT, Mrs. Grace Adayilo, the move demonstrates the minister’s commitment to the welfare of workers and aims to “ameliorate the plight of employees under the FCT Administration.”

Adayilo also expressed confidence that this gesture would inspire the staff to continue supporting Wike in delivering on President Tinubu’s Renewed Hope Agenda.

The statement emphasized that the decision underscores the minister’s dedication to improving the well-being and morale of FCT workers.

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