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No fewer than two persons were shot on Saturday at Okere Community in Warri Metropolis of Delta State.
It was gathered the victims were shot by security operatives believed to be soldiers from the 3 Battalion of the Nigerian Army, Effurun Barrack.
The first victim was identified as Macaulay Uku and the second simply identified as Eguono, was shot around midday during the visit to the area by the Olu of Warri, Ogiame Atuwatse III.
Uku, according to various sources, was shot early in the afternoon while Eguono was shot hours later.
The Commanding Officer of the Battalion, Major A. Ohegbe, who was contacted by The Nation, said he was not aware of any shooting but confirmed the heavy presence of security personnel during the visit.
He hinted that the fracas was sparked off by resistance to the monarch’s visit by a section of the indigenes of Okere community, which is the home of Chief Ayiri Emami.
The Nation recalled that a section of the Okere community sided with Chief Ayiri Emami, the Ologbotsere of Warri, whose alleged removal is the subject of an ongoing litigation.
“Those who are loyal to the Ayiri essentially are opposed to the monarch and this has resulted in the polarisation of Okere,” a source in the area said.
Supporters of the monarch however said that there was no opposition to the monarch in Okere, stressing, “He is the Olu of all Itsekiri people”.
Our source further added that the people of the area were incensed by an attempt by the monarch to sprinkle anointing oil at the sacred ground of the Okere shrine.
It was gathered that two of the victims of Saturday’s shooting were those loyal to Chief Emami, leading to insinuation that the soldiers were brought in to suppress opposers of the monarch’s visit.
Tension has gripped the community as supporters on the opposing sides trade words on social media and on the streets on the next line of action.
[TheNation]
A Ghanaian cleric, Bishop Sam Owusu, has expressed disappointment in his fellow Ghanaians for not offering the same level of support to Ghanaian clerics as they do to Nigerian pastors.
This is coming in the wake of Nigerian Pastor Jerry Eze’s conference in Ghana.
The Nations’ Service Project with Pastor Jerry Eze reportedly attracted over 60,000 people last week.
The Ghana Conference, also known as the NSPPD conference, attracted a lot of buzz on social media.
However, Owusu, in a viral clip on Saturday, chided his church members and his countrymen for attending the conference.
Owusu is the Senior Pastor of the Pottersville church, East Legon Hills, Accra, Ghana.
He shared concerns about Ghanaians labelling their pastors as fake but supporting the ministries of Nigerian pastors.
In an impassioned speech in front of his members, he said, “Sometimes I am very surprised about Ghanaians, how hypocritical we are.
“We don’t respect our own and we don’t honour our own and we don’t love our own. We celebrate foreigners more than our own.
“But there is no foreigner that will celebrate Ghanaian. Look at how Ghana members and Ghanaian Christians follow Nigerian pastors and respect Nigerian men of God than even Ghanaian pastors.
“Every prophet in Ghana is considered as fake. Every anointed man of God is considered fake.”
Talking about Eze’s programme, he said, “Just last week, one of the young men in Nigeria came to do a prayer conference here and over 50,000 people were there praying, Ghanaians o!
“But let me tell you, do you know there is no Ghanaian Pastor that will go to Nigeria to have that crowd? Not even 10%?
“Nigerians will never that’s why there is no bigger Ghanaian Church in Nigeria. Nigerians respect and love their own”
He added, “You go to Jerry Eze programme, you are sponsoring a Nigerian at the detriment of your own prophet in Ghana.
“I don’t hate him. I love the man. I love the young man. He came to Ghana and pulled over 100,000 crowd and took offerings and seed to his country and I saw even the Electoral commissioner who was the one who went to receive him from the airport.”
This situation has triggered responses from many individuals, who have highlighted the ongoing competition between Ghana and Nigeria.
The two African nations have often clashed in attempts to establish superiority.
In recent years, Ghana and Nigeria have engaged in friendly competition over Afrobeats, football, and jollof rice.
[Punch]
The presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, former Vice President Atiku Abubakar, has urged gubernatorial aspirants and stakeholders to close ranks and rally around Asue Ighodalo, the party’s governorship candidate for Edo State.
Naija News reports that Ighodalo had emerged as the winner of the primary conducted by the ruling party, but the Deputy Governor of Edo State, Philip Shaibu, had also claimed victory in a parallel primary.
Despite the PDP leadership giving Ighodalo a Certificate of Return, Shaibu has vowed to challenge the party’s decision in court.
In a statement on Saturday, Atiku, through his Media Adviser, Paul Ibe, congratulated Asue Ighodalo for his victory at the just-concluded primary election of the party.
The former Vice President said that the election of a thoroughbred technocrat by the PDP as the party’s candidate in Edo State signposts the urgency that the PDP gives to ensuring that the next governor of Edo State is a round peg in a round hole.
Atiku said, “The PDP leadership and members in Edo State must be congratulated also, for an amazing primary election that produced the quality of candidate to fly the flag of our party in the upcoming election.
“The party has made a choice, and it is not in dispute that the choice is a good one.
“It is, therefore, on this note that I plead with all other aspirants and aggrieved stakeholders to reconcile and negotiate to make sure that Edo remains a PDP state.
“Barrister Ighodalo, apart from being a brilliant mind, in whose hands the affairs of Edo State will steer on stable waters, is also a fine gentleman.
“I believe that our candidate has what it takes to bring everyone willing to work for the interest of the PDP under the huge umbrella of our party.”
Continuing, he noted that the current hardship being experienced by Nigerians should energize every PDP member to work for the party’s interest, especially in Edo State, in ensuring that the ruling party, the APC, does not enlarge its map of hunger and poverty.
[NaijaNews]
The Yoruba nation activist, Sunday Adeyemo, popularly known as Igboho, has urged traditional rulers in the Southwest to support him in flushing out criminality and banditry from the region.
Igboho said he would collaborate with traditional rulers to put a permanent end to insecurity in the Southwest.
In a statement he signed, he lamented that insecurity was responsible for death and farmer-herder crisis in the region.
“I welcome the idea, and assure them that I will do my best to checkmate incidence of insecurity provided I receive the backing of the relevant security agencies, Yoruba monarchs and other stakeholders.
“Insecurity and threats precipitated by banditry, herders/farmers clashes, leading to deaths and massive destruction of farmlands have driven away farmers and agric entrepreneurs from farm settlements in Yorubaland.
“We need to flush out criminal elements, who have occupied our forests using the place as launch pads to jeopardize the peace in our communities, towns, villages and amulets. I am ready to lend my support in this regard,” he said.
[DailyPost]
The General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, says he is alive because God is wonderful, recalling how he once escaped death by the whiskers.
He spoke at the Redemption Camp, off Lagos-Ibadan Expressway in Ogun, on Saturday as he clocked 82, with congregants celebrating him.
Adeboye narrated the incident, which many years ago, according to him, could have claimed his life, if not for a miraculous intervention of God.
He referred to an earlier narrative by his former driver of several accidents in which the cleric and his wife escaped death in various incidents on the way to Ilorin, Kwara.
Adeboye said that the most frightening was one in which their vehicle came face to face with a trailer that was coming at full speed on a narrow path, by a bridge which had a river by its side.
“Somehow we passed,” he said, noting that it was a miracle that they escaped unhurt in the incident, which left both him and his driver shaking.
Adeboye said the escape amazed his driver, that all the way to Ilorin, all he was repeating was ‘wonderful.’
“That I’m alive today is because His name is called wonderful,” he said, and prayed that God would be wonderful in the lives of the people.
Adeboye appreciated the church members for celebrating him, praying that none of them would die young, and that they would be greater than him.
He said that his 82nd birthday anniversary also marked the 38th anniversary of the annual Special Holy Ghost Service organised by the church.
Adeboye thanked God for the lives that had been touched through the programme.
The cleric, at the event, went on to preach on the theme of the Holy Ghost Service – On Eagles Wings.
Preaching from Exodus Chapter 19, he said, “When God hears and takes notice of a person, the life of such a person changes for better.
“God can grab you from the lowest point on earth and put you on the throne.”
According to him, when one’s case is beyond any human assistance, the God who knows will send help.
The cleric said that all God required was faith and holiness, and He was able to give sweatless victory.
He prayed that God would hear the cries of the people, carry them on eagle’s wings and deliver them totally like He did for the children of Israel.
(NAN)
FG clash with Binance, Tinubu dusts off Oronsaye report, voodoo in Olympics: Weekly news roundup
AdminThis report brings you this week’s biggest news stories from around the country.
Nigeria has increased its crackdown on cryptocurrency platforms in the country, leading to reported disruptions for several users. The Binance platform was specifically targeted in this crackdown following accusations by the Central Bank governor of being used for illegal transactions.
Renowned Nobel laureate, Wole Soyinka, graced PUNCH Newspaper’s 50th anniversary. Did the efforts by the Nigerian Labour Congress to shut down the country through protests fail to achieve the desired outcome?
President Bola Tinubu dusted off the Oronsaye report and called for immediate implementation. Here are highlights from the week’s biggest news stories, from February 25 to March 2, 2023.
- Soyinka calls for decentralisation
Nobel laureate, Prof Wole Soyinka, criticised previous national conferences in Nigeria, describing them as deceitful attempts to pacify citizens rather than genuine solutions for national challenges.
Speaking at a public lecture to celebrate PUNCH Nigeria Limited’s 50th anniversary, Soyinka urged leaders to prioritise decentralisation for effective national development, stating that it is essential for maximising productivity and self-sufficiency.
“When the word restructuring is booted around, we often have the challenge, what do you mean by restructuring?
“Well, I don’t even like the word restructuring, I prefer the expressions like reconfiguration, decentralisation. And those who lead us they recognise the necessity of it; they recognise the importance and almost the inevitability of decentralisation until they get in power,” he said
Soyinka emphasised decentralisation’s importance in enhancing food production and addressing hunger.
“Palliatives remain crude, short-term, stop-gap measures only.
“As a veteran of food security working conferences from Uganda to India, from Paris to Sochi, I insist that for a nation to be food self-sufficient, and sustainably, decentralisation is the key, not collectivisation,” he said.
He stated that decentralisation is not just a slogan but a necessary step towards addressing the nation’s incomplete mission of nation-building.
- The one-day protest
The Nigeria Labour Congress and affiliated unions initiated a national protest on Tuesday, addressing concerns about the high cost of living, inflation, insecurity, and general hardship in the country.
Protesters, led by NLC President, Joe Ajaero, marched to the National Assembly and presented a letter of demands to President Bola Tinubu through the lawmakers.
However, following the first day of protests, the NLC announced the suspension of the nationwide demonstration slated for Wednesday.
In a communiqué issued after the National Executive Council meeting, the NLC expressed confidence that the government had received their message effectively.
Despite the decision to suspend the protest, Ajaero revealed at a subsequent press briefing on Wednesday that the congress faced intimidation and threats, compelling them to halt the demonstration.
He said, “We were threatened with all manners of consequences that would be meted on us if we went ahead.
“We were, however, not perturbed, as lifting the heavy yoke of suffering upon Nigerian workers and masses left us with no option than to press on,” Ajaero revealed.
Ajaero highlighted the NLC’s commitment to alleviating the hardships faced by Nigerian workers and the general public, despite the obstacles.
Additionally, he disclosed he has evidence of the “importation of agents” mobilised to disrupt the peaceful demonstration through violence during Tuesday’s protest
- FG versus Binance
The Federal Government is intensifying its scrutiny of Binance, a cryptocurrency exchange company, amid concerns about its impact on Nigeria’s economy.
According to reports, the government is considering demanding over $10bn from Binance as a penalty for its alleged involvement in illegal transactions in the country.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, revealed in an interview with the BBC that discussions on compensation and fines are ongoing, highlighting the potentially significant losses Nigeria has suffered while Binance profited.
This move comes amidst efforts to stabilise the value of the naira, as Binance users allegedly manipulated dollar-naira rates, leading to a sharp decline in the currency’s value.
Onanuga also stated that Binance is not registered in Nigeria and has no physical presence in the country.
The Office of the National Security Adviser confirmed that Nigerian authorities are investigating Binance’s operations.
This development follows reports of Binance executives being detained by the Nigerian government and the platform’s suspension of naira-denominated transactions.
It also comes after Binance’s settlement of $4.3bn in criminal money laundering charges with the U.S. Department of Justice.
- Oronsaye: The Rise of the Sceptre
Twelve years after the submission of the Stephen Oronsaye Report, the Federal Government announced on Monday its approval of the implementation of some of its recommendations aimed at reducing the cost of governance.
Consequently, 29 government agencies will be merged, while eight parastatals will be integrated into eight other agencies.
Additionally, four agencies are set to be relocated to various ministries, and one agency is slated for scrapping.
As per the announcement made by Minister of Information and National Orientation, Mohammed Idris, it comes in response to the 2012 Oronsaye report, which pointed out the increase in government parastatals and suggested major restructuring.
The report suggested reducing the number of statutory agencies from 263 to 161, scrapping 38 agencies, merging 52, and reverting 14 to departments within ministries.
It also proposed repealing the law, establishing the National Salaries and Wages Commission and merging Nigeria’s top three anti-corruption agencies.
The decision to implement the Oronsaye report was part of President Bola Tinubu’s agenda for governance reform.
Agencies slated for merger include the National Agency for Control of HIV/AIDS, the National Emergency Management Agency, and the Directorate of Technical Cooperation in Africa.
Certain agencies such as the Federal Radio Corporation and the National Commission for Museum and Monuments are set to be merged or subsumed into other entities.
Some agencies, like SERVICOM and the Border Communities Development Agency, will become departments within other agencies.
The restructuring effort aims to enhance government efficiency, reduce duplication of functions, and free up resources for developmental projects. To facilitate the restructuring and ensure legislative amendments, President Tinubu constituted a committee with a 12-week mandate to oversee the process.
- Peseiro bids farewell
Portuguese coach José Peseiro has said goodbye to the Super Eagles following the conclusion of his contract. He expressed his pride in his time with the team, highlighting their second-place finish at the 2023 African Cup of Nations.
Amidst the uncertainty surrounding his future, negotiations for a contract extension were in progress. Peseiro has mentioned receiving attention from other national teams.
There was a lot of talk about who might take over, with Emmanuel Amunike and George Finidi being considered.
Some people have suggested hiring a local coach, but technical director, Austine Eguavoen, backed the idea of extending Peseiro’s contract for stability.
As conversations progress, Nigerians are eagerly anticipating clarification before the upcoming 2026 World Cup qualifiers in June.
Peserio was appointed head coach of the Super Eagles in 2022 and he helped the national team finish second at the 2023 Africa Cup of Nations.
- 2024 Olympics Qualifier: Cameroon juju vs Nigeria’s God
Another Nigerian coach had an interesting experience this week in the form of voodoo. When the Super Falcons beat the Indomitable Lioness of Cameroon 1-0 at Moshood Abiola Stadium in Abuja to advance to the final stage of the 2024 Olympic Games, discussions about voodoo and juju in football circles came up.
Esther Okoronkwo’s goal propelled Nigeria to the final stage of the qualifiers. However, in the closing minutes of the game, Cameroon sent Annie Enganemben on as they were about to launch a free kick into the Nigerian box, with claims that the player was sent on to touch the net in a bid to give Cameroon a saving grace as they were running out of options, and had to resort to diabolical means.
In an already viral video, the substitute, alongside another striker, were seen trying to run towards the Nigerian goal in an attempt to touch the net, but Asisat Oshoala and other Super Falcons players took it upon themselves to prevent that from happening.
The drama led to the player being sent off after she hit Nnadozie in the process.
However, Super Falcons manager, Randy Waldrum, dismissed the notion, stating his disbelief in voodoo. Player Deborah Abiodun emphasised the team’s focus and faith amidst distractions, highlighting their belief in God.
“We kind of saw it as a point of distraction but we remained focused regardless of whatever they believe in, we believe in God and in Him we stand. So we don’t care about the voodoo,” Abiodun stated.
With the Super Falcons striving to qualify for the Olympics after their last appearance in 2008, there is optimism under Waldrum’s leadership to end this drought and clinch a spot in the Olympics.
- Sisi Quadri
On March 1, 2024, the entertainment world was plunged into mourning as news broke of the untimely passing of popular actor, Quadri Oyebamiji, fondly known as Sisi Quadri, at the age of 44.
Reports indicated that the actor had been battling persistent hiccups, attributed to a kidney-related ailment, while in his hometown of Iwo, Osun State.
Mourners, filled with sorrow, gathered at the residence of Quadri’s father, Alhaji Jimoh Oyebamiji, in Iwo, to lament his passing.
Quadri passed away slightly more than a year after his mother’s death in February 2023. He leaves behind a legacy of remarkable performances known for his distinctive fast-paced dialogue delivery and witty insults.
The news of his passing elicited an outpouring of grief from colleagues and fans alike, with fellow actors such as Abiola Adebayo, Bolaji Amusan (Mr Latin), Saidi Balogun, and Odunlade Adekola expressing their condolences on social media.
Quadri’s death was a major blow to the Nigerian entertainment industry, creating a void that will be that will be difficult to fill.
[Punch]
Legal luminary and human rights activist, Dr. Olisa Agbakoba (SAN), has said President Bola Tinubu was right to have removed fuel subsidy.
Besides supporting the subsidy removal, Agbakoba said he was fully in support of correcting the economy. However, he noted, “I do not support the slow pace at which the government is tackling the problem of hardship now.”
The SAN, who is an expert in maritime law, and former President of the Nigerian Bar Association, NBA, made the points in an interview with Vanguard.
10 ministers
He also told Vanguard that Tinubu needed to reduce the number of ministers to 10 or 12.
He said: “What are you doing with 48 ministers? It is just too big. You don’t need all that. I recommend a maximum of 12.
“So many ministries can be merged and others abolished. What is the Ministry of Information doing? All the press secretaries in the Villa cover what the Minister of Information does. Tell me, what does the Minister of Information do daily? Nothing!
“We also do not need Agriculture and Housing ministries. My take is that the government has no house and does not need a Minister of Housing.
“There should be a very clean sweep; you can bring it down from 48 to about 10 to 12 ministers.
“We should abolish that section in the constitution that says every state must produce a minister.
Subsidy removal
Recall that on May 29, 2023, President Tinubu declared that subsidy was gone. He later described subsidy as an elephant that would bring Nigeria to its knees.
According to Agbakoba: “Why should we in good heart and sense, feed smugglers and be Father Christmas to neighbouring countries, even though they say not every day is Christmas?
“The elephant that was going to bring Nigeria to its knees is the subsidy. A country that cannot pay salaries and we say we have the potential to encourage ourselves. I think we did the right thing.”
We institutional palliative — Agbakoba
Speaking on the subsidy removal, Agbakoba said: “The principle of subsidy applies across the world. Every government uses the proceeds to offer palliatives to the aged, the poor and the unemployed.
“The problem with our own is the method of delivery.
“For instance, in the US, there is a social security law. So, the palliative process is institutionalised. It is not administrative.
“Even at that, there is a process of verification of people who are entitled. I don’t see how it cannot be done here. We have a lot of identification tools like BVN, NIN and others that can be used for people who are qualified for the palliative.
“On the larger issue of subsidy, it is really not a bad idea. France has just announced 45 billion euro to subsidise electricity.
“The budget of the United States is $5 trillion and half of it goes into subsidising education, free health, and support for the aged. The UK pays 200 billion pounds to support the national health system.”
‘Where’s the subsidy money’
Continuing, he said: “On the point whether President Tinubu was right to remove it, yes, he is right, to recreate the economy.
“But what hasn’t happened is the consequential follow-up, which is a gap creating the hardship now.”
Also suggesting a way out, he added: “We need to pass, as a matter of urgency, the social security act which will use existing data to identify people who are entitled to get palliative.
“What we have is the administration, where the government said it has set aside N100 billion for palliative but we don’t know where it is going.
“Where is the money that has accrued from the subsidy removal? How much has been paid as palliatives, and where is the money going to?
“Those are the gaps I will want the government to cover. If they do so, it is not going to be difficult to persuade Nigerians that ‘yes, this is a very tough period that we must go through to correct the economy’,” Agbakoba added.
[Nigerianeye]
Nollywood actress, Laide Bakare, has debunked the accusation of sexualising controversial Nigerian singer, Habeeb Okikiola, popularly known as Portable.
Naija News recalls that trouble started between the duo after the movie star, during an interview with her colleague, Abiola Adebayo, on her YouTube show called Portable a ‘dirty boy’ from Sango.
Reacting, Portable, in a video shared online, claimed that the movie star made sexual advances towards him despite using demeaning words on him online.
The ‘Zazu Zeh’ crooner also said that Laide Bakare was in his social media DM begging for his WhatsApp number and pleading with him to attend her birthday/event.
In an interview with Legit, Laide said the Zazu crooner was someone she used to enjoy his music before he became a nuisance.
Addressing the allegation of making sexual advances at Portable, the thespian stated that she had never met the singer, adding she only sent him a DM because she wanted him to perform at her show.
She said, “The first time I noticed him, he was different. He looked crazy and funny, but he is no more funny, now he is a nuisance. I used to like his style of music. That time when he first came out, I wanted him on my show. I didn’t have his phone number, so I sent him a message on Instagram.
“I requested for his contact so that we can discuss about my show. Later, I had to go through his former manager who later sent his contact to me but Portable didn’t pick up, so I went back to his manager. We did not conclude our discussion before I dropped the idea.
“Me Ke?. I have never seen him in my life. I can never shake him. He looks so dirty. He claimed I hugged him, I said me, hug ke? I have worked with his fathers in the music industry. I have featured 9ice, Olu Maintain, and Dekunle Fuji in my films.”
Countries with the best economy in the world contribute immensely to the global Gross Domestic Product (GDP) and have the power to influence international trade and world economic policies.
Naija News reports that the GDP is a measure for assessing the magnitude of a nation’s economy, which includes investments, expenditure, and value of exports, goods, and services.
Currency exchange rates also influence the strength of a country’s economy.
When the GDP of a country goes up, it means the economy is doing well. If GDP falls from one quarter to the next, it is a negative growth. Two successive quarters mean the economy is in recession.
There are no identical economies. What defines a country’s economy is based on resources, culture, history, geography, laws, and the country’s evolution.
In this article, you’ll get to know the top 10 countries dominating the world’s economies.
1. United States of America
The Gross Domestic Product (GDP) of the United States is estimated to be about 26.85 trillion dollars, which is the highest in the global economy. Different service sectors such as technology, finance, healthcare, and so on have been major contributors to the country’s total output.
The United States of America has been notable for being one of the top economies in the world. The country’s economy has been able to thrive because of government policies, technologies, and productivity. The United States of America practices capitalism as its economic system — this means the government has no business doing business.
2. China
China is the second world’s largest economy, with a GDP of about 19.37 trillion dollars. This is a country whose economic expansion has become a global phenomenon. China operates a mixed socialist market economy. The main drivers in the economic growth of China are private investment and exports.
As of today, China is the fastest-growing consumer market and accounts for about half of the global consumption of metals. The country plays a crucial role in international trade considering being the largest trading nation in the world. Also, it has the largest foreign exchange reserves worth 3.1 trillion dollars.
3. Japan
Japan has been having significant economic growth since the 1960s. It ranks third with a GDP of 4.41 trillion dollars.
What made Japan one of the top economies in the world is its advanced social market economy, referred to as the “East Asian Model”. By market capitalization, Japan Exchange Group is the world’s fifth-largest stock exchange and the world’s second-largest foreign exchange reserves worth 1.4 trillion dollars.
It is also the world’s fourth-largest consumer market. In terms of automobiles, Japan is the second largest automobile manufacturer in the world. This is a country often ranked among the world’s most innovative countries.
4. Germany
Germany has a GDP of 4.31 trillion dollars; which makes it one of the top economies in the world. Germany is the top economy in Europe, with a highly developed social market economy.
In 2016, Germany had the highest trade worth 310 billion dollars. This feat made Germany one of the largest exporters globally, worth 1.81 trillion goods and services.
Its major exports are machinery, food products, rubber, plastics, electronic products, chemical goods, and basic metals. Germany is the first country to explore renewable energy and a top location for trade fairs
5. India
India’s 3.74 trillion GDP places it among one of the top economies in the world. The economy has been one of the fastest growing in the world’s economies. India’s economy has grown from just a mixed-planned economy to a mixed middle-income developing social market economy.
Right from independence in 1947 to 1991, the Indian government followed the Soviet model in promoting economic policies. India’s GDP is driven by government spending, investment and exports.
In 2022, India became the 6th largest importer and 9th largest exporter, including domestic consumption; the country is the world’s sixth-largest consumer market. The service sector is about 50 per cent of the GDP and is the fastest-growing sector.
6. United Kingdom
Despite the uncertainties that ensued from Brexit, the United Kingdom has managed to be one of the top economies in the world, with a GDP of 3.16 trillion dollars.
The economy of the United Kingdom is very developed in terms of social markets. In the world today, the United Kingdom constitutes 2.3 percent of the world GDP by Purchasing Power Parity (PPP).
The service sector constitutes 82% of the country’s GDP. The technology sector is worth 1 trillion dollars. Going back to history, the United Kingdom was the first country to industrialize in the 18th century.
7. France
France’s GDP is estimated to be 2.92 trillion dollars. Some of them are leading globally; that is automobile, railway, and aerospace. About 70 per cent of the country’s GDP comes from the service sector.
France’s social market economy is highly developed with different strategic sectors. In 2020, France was acknowledged as the largest Foreign Direct Investment recipient in Europe.
Bloomberg Innovation Index 2020 also ranked France as one of the top 10 innovative countries in the world. The International Monetary Fund (IMF) ranked France by GDP per capita in 2023 as the 23rd country with 44, 408 dollars per inhabitant.
8. Italy
Italy is widely known for its influential sectors; economy and agriculture including a highly developed social market economy. It is the eighth largest exporter in the world, with a GDP of 2.284 trillion dollars.
The world’s third largest gold reserve is in Italy and it is a great contributor to the budget of the European Union. Italy boasts of many multinational corporations which serve as the backbone of the industry.
Also, what makes Italy one of the top economies in the world is its significant production of furniture, vehicles, pharmaceuticals, food, and clothing. Italy is the hub for luxury goods and is the third largest in the world.
9. Canada
Canada is the ninth among the top world economies with a 2.09 trillion dollar GDP. The economy is a mixed one; exporting and importing goods worth over 630 billion dollars. Since the beginning of the 20th century, Canada has been growing economically and practically transformed the country from a rural to an urbanized industrial one. The service sector dominates the Canadian economy; and employs three-quarters of the country’s workforce. Canada is a leading exporter of gold, platinoids, uranium, zinc, and nickel. In the aspect of agriculture, it produces canola, wheat, and other grains.
10. Brazil
Brazil ranks tenth among the top economies in the world. The country’s GDP is about 2.08 trillion dollars. The economy is quite diverse, from manufacturing, agriculture, and services.
According to the International Monetary Fund (IMF), the GDP per capita in 2023 was around 10, 413 per inhabitant. Between the years 2000 to 2012, Brazil was one of the fastest-growing economies in the world.
It was able to diversify the economy by focusing on gold, cotton, and sugar. Brazil is one of the largest steel producers and exporters.
In a new and exciting twist, Big Brother Naija Organisers has hinted at the season 9 edition of the reality TV show.
At the end of the show, Level-up housemate, Ilebaye, emerged as the winner of the All-Stars show, while Mercy Eke emerged as first runner-up, followed by CeeC.
However, in a post via X on Friday, the show organisers tease fans about the upcoming season.
The post read, “Last season, Biggie asked for the All-Stars! This time, he has his eyes set on something different. What could it be this time around?”
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Naira, on Friday, reversed the appreciation trend at the parallel section of the foreign exchange market.
The local currency depreciated by N100 or 6.67 percent to N1,600 per dollar.
Currency traders, known as bureau de change (BDC) operators, quoted the buying rate at N1,550 and the selling price at N1,600 — leaving a profit margin of N50.
At the country’s official window, the naira appreciated to N1,548.25 against the dollar on Friday — a 2.94 percent increase from the N1,595/$ traded on Thursday.
On Friday, the Central Bank of Nigeria (CBN) had revoked the licences of 4,173 BDC operators for failing to observe regulatory provisions.
According to the apex bank, it is revising the regulatory and supervisory guidelines for BDC operations in Nigeria.
The development comes amid efforts by CBN to achieve an appropriate market-determined exchange rate for the naira.
On February 27, 2024, the CBN said it approved the sale of foreign exchange to bureau de change operators.
Also, on February 23, CBN said sellers of the equivalent of $10,000 and above to BDCs are required to declare the source of the forex.
The bank also placed limits on the FX sales by BDC operators.
BDCs may sell foreign currency in the equivalent of $4,000 and $5,000 for personal travel allowance (PTA) or business travel allowance (BTA), respectively, once every six months.
The torrential fall of the Naira which has turned the petroleum supply chain into a quagmire is fast eroding the projected gains after the federal government finally removed the petrol subsidy regime.
Oil marketers and government officials also appear not to be on the same page when it comes to the actual landing cost of Petroleum Motor Spirit and the impact that Nigeria’s fluctuating currency has had on the importation of the product.
Presently, it has been calculated that landing cost of Premium Motor Spirit, PMS also called petrol has averaged N1,009 a litre going by prevailing rate of N1,500 per dollar, from N720 per litre recorded in October 2023.
Though, this cannot independent be confirmed by our Correspondent as President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Billy Gillis-Harry, said such figures may still be disputed because there are other associated costs like insurance, port charges and cost of hiring vessels.
It has also been reported that the country is paying about N907.5 billion subsidy on petrol monthly as the country’s foreign exchange crisis pushed the actual cost of litre of fuel to N1,203, signalling a return of subsidy regime.
However, an inside source at the Nigerian National Petroleum Company Limited, NNPCL, denied the insinuation.
The source said such reports are falsehood and should be disregarded as subsidy has gone.
“I think we should take a look at the provisions of the Petroleum Industry Act, PIA, which gives the NNPCL the responsibility to ensure energy security at any time. Though it operates as a limited liability company that pays dividend to shareholders, nonetheless the PIA vests that responsibility to the Company to provide buffer and secure the country’s energy demands and perhaps that is what is erroneously being interpreted as return of Subsidy.
The group CEO of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, had said at the birth of NNPCL that the country was spending over N400 billion monthly on petrol subsidy, but investigations into Nigeria’s petrol pricing dynamics have revealed a significant surge in the landing cost of petrol, attributed to the escalating exchange rate.
In his views, the chief executive officer, CEO, of the Center For The Promotion Of Private Enterprises, CPPE, Dr. Muda Yusuf, said, “Evidently, the currency depreciation has partially eroded the subsidy savings.”
According to Yusuf, this is because the cost of fuel importation has increased, when converted to naira, adding.
Besides, the mounting inflationary pressures has inherently increased the subsidy because the pump price had remained fixed while the landing cost has been on the increase.”
This he said is understandable in the light of the current hardships being experienced by the citizens.
“The government is unlikely to go back to full subsidy. Doing so, would amount to a complete reversal of a major pillar of the current reforms. Besides the government do not have the fiscal space to ensure full restoration of subsidy.
“The objective of the reform is actually to exit completely from fuel subsidy regime. But this will take some time as the economic fundamentals are still weak.” he advised.
Just recently the International Monetary Fund (IMF) claimed that the Nigerian government has, through the backdoor, resumed the payment of subsidies on petrol.
LEADERSHIP WEEKEND writes that on May 29, 2023, President Bola Tinubu announced an end to petrol subsidy, which caused a hike in the prices of goods and services in the country.
Following that announcement, the Central Bank of Nigeria (CBN) collapsed the different exchange rate regimes into one, with the value of the naira to the dollar weakening.
The IMF recently issued a statement on the conclusion of its Executive Board’s Post Financing Assessment with Nigeria, during which it expressed concerns that the government had capped the prices of fuel at retail stations.
The IMF advised Tinubu to completely stop the payment of subsidies on petrol to free funds to run the government.
In reaction, some Groups and individuals rejected the IMF position for what they described as “anti-masses policies”, and called on Nigerian government to explore home grown options that would fix the economy and better the life of the people.
But the minister of Information and National Orientation, Mohammed Idris, on Wednesday, said petrol importation in the country reduced by 50 per cent since the withdrawal of the fuel subsidy.
Idris said this at the third edition of the ministerial press briefing series, where the coordinating minister for Health and Social Welfare addressed journalists in Abuja.
He said,“Petrol importation has been reduced by 50 per cent since the withdrawal of the fuel subsidy. The Nigerian Stock Exchange All Share Index crossed the 100,000 mark – its highest ever, mainly due to the pragmatic reforms initiated by the President, which inspired investor confidence in the Nigerian economy.
It is also encouraging to state that oil production has risen from 1.22 million barrels per day in the second quarter of 2023 to 1.55 million barrels per day in the fourth quarter of 2023.”
President Bola Tinubu announced the removal of petrol subsidy during his inaugural address on May 29, 2023, saying, “Subsidy is gone.”
Idris notes that President Tinubu has also given a directive for the design of a Social Security Unemployment Programme to cater for unemployed graduates.
Equally, President Bola Ahmed Tinubu, has stated that the decision of his administration to remove subsidy on Premium Motor Spirit (PMS) was premised on the need to ensure long-term energy security and economic prosperity of Nigeria.
Tinubu stated this in his keynote address at the opening ceremony of the 7th Nigerian International Energy Summit (NIES) at the Banquet Hall of the Presidential Villa, Abuja on Tuesday, 27th February, 2024.
The president who was represented at the event by the minister of Information and National Orientation, Mohammed Idris, noted that the petroleum subsidy had, over the years, strained the country’s economic resources, leading to inefficiencies and, most importantly, hindering ability to invest in critical areas of energy security.
He admitted that the decision to remove the petroleum subsidy was a challenging one, but stressed that it was a step that must be taken to secure Nigeria’s energy future and foster economic growth.
He added that by removing the subsidy, “We are creating a more transparent and accountable energy sector. The funds that were previously allocated to subsidizing petroleum products are now redirected towards developing and upgrading our energy and other social infrastructure”.
However, the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) said the only way out of this quagmire is to tap and explore the country’s vast gas deposits and bring it into useful disposition.
The PETROAN president Billy Gillis-Harry, in a conversation with our Correspondent, said government should escalate activities around gas adoption as alternative to petrol.
He said his association has made significant strides in promoting the adoption of Autogas in vehicles across the country.
Our correspondent reports that PETROAN, is working such that over 7,000 filling stations under the association be converted into gas dispensing outlets. These conversion centers will be used for dispensing Autogas, including compressed natural gas (CNG) and Liquefied Petroleum Gas (LPG), into vehicles.
The body is engaging in various intervention projects, including collaborations with manufacturers of conversion kits for LPG, LNG, and CNG. Notably, they held discussions with their Asian partners, primarily from India, who are eager to support their initiatives.
He advocated that the government’s financial support for consistent vehicle conversion to run on gas would be a more effective form of palliative compared to direct cash transfers to vulnerable households.
Such an intervention, he believed would significantly reduce the dependence on petrol and alleviate the burden of petrol imports due to foreign exchange constraints.
The adoption of gas as an alternative fuel source is seen as the most viable solution to mitigate the current high cost of petrol.
With 7,000 retail outlets already registered for conversion centers, government funding to support these conversions, which would be another form of palliative for the public.
PETROAN has partnered with a company capable of producing 70,000 conversion kits monthly, enabling them to target the conversion of 70,000 vehicles each month. The vision is to have hundreds of thousands of vehicles running on gas within the next three to six months.
In support of this initiative, oil marketers represented by the Depot and Petroleum Marketers Association of Nigeria (DAPPMAN) have pledged to donate 100 CNG buses to help ease the impact of petrol subsidy removal.
Furthermore, President Bola Tinubu announced that his administration has allocated N100 billion between now and March 2024 to acquire 3,000 units of 20-seater buses powered by CNG.
The drive towards Autogas adoption and the establishment of conversion centers signifies a significant step towards reducing the country’s dependence on traditional petrol-based fuels.
According to the Minister of State Petroleum Resources (Oil), Sen
Heineken Lokpobiri, said, in spite of the abundant oil and gas reserves in the country, Nigeria suffers from energy poverty as the reserves have not translated to economic prosperity contrary to what obtained in the Middle East.
He therefore implored the summit to unravel what other oil producing countries were doing to bring economic prosperity to their countries that Nigeria hasn’t done.
He noted that the task of exploring oil reserves should be given to those who have proven capacity, both financially and technically to be able to explore oil and gas reserves for the benefit of Nigerians and the global energy landscape, adding that, the easiest way to guarantee energy security in Nigeria was to get the right investment.
He also noted that, in exploration, the target should be to explore these resources in a more environmentally friendly and sustainable ways.
Lokpobiri charged the delegates at the summit to come up with brilliant ideas in ensuring that we have energy security in Nigeria and ramp up production. “The only way we can guarantee energy security is to increase production in the upstream so that we will be able to provide the right quantity to service our obligations, both locally and internationally”.
[Leadership]
Shade Silifat Abdulkadir, the mother of the three children who suffocated to death in a parked car in Ilorin, Kwara State capital, last week Sunday, has broken her silence on the tragic incident.
In an interview with journalists on the last moments of the deceased children, 37-year-old Shade appealed to Nigerians to come to her aid.
The first child, Maryam was 10 years old, Nudrah, the second child was 8 years and the third, Mohammed, was 2.
All three children died after suffocating in the car parked in their residence.
DAILY POST gathered that the vehicle was borrowed by their father from his elder brother.
Speaking at her family house, Ile Magaji, Taiwo Isale, in Ilorin, Shade pleaded with all mothers to come to her aid.
Narrating the incident, Shade said, “It happened on Sunday around some minutes to 2:00 pm, shortly after I finished cooking rice for them. It was my second daughter, Nudrah, who told me that she would not eat rice in school the next day (Monday) and that she would prefer spaghetti.
“I have money in the shop and N700 in my Opay account but was left with cash of N200 only. I live at No 8 Boluke area in the Zango-Kulende area of Ilorin and operate a shop at Oke-Andi, Zango, where I sell provisions and other items.
“It would only cost me N200 to go and come back home. So I told my children that if at all, what I have is not up to buying what you want, I have people I can collect money from till I get to shop on Monday and I left. This is not the first time I would leave them and go to buy something.
“Sometimes, I would leave them and go and fetch water and they would be playing inside. At times, if I get a job from churches, mosques or from any celebrant to help make doughnuts or snacks, because I am also a caterer, I go and deliver it to the customers and leave the children at home.
“My husband married another wife which I didn’t get to know on time. I faced a lot of issues in my marriage which is now 11 years and there has never been peace.
“My husband has been moving with the lady called Kafayat from Oke-Ode for quite some time and I was told to be patient and my family and his are aware of the development.
“Sometimes he comes home around 11:00 pm and leaves home very early in the morning. All my children were not gotten in peace, it was from one trouble to another. Sometimes, if we had a quarrel, he would drive me outside in the middle of the night. His name is Jimoh Abdulkadir from Babanloma in Kwara South.
“It happened that he impregnated the girl but the child died after birth. On the day of marriage, he introduced the wife to me. But penultimate Saturday, the lady gave birth again. I am not his first wife. A lady had given birth to a child for him before but I met him as a single father and he was not like this before I married him.
“So after his second wife had her second child, my husband informed me and I went to greet him.
“When I woke up on Sunday, I saw the voice note of my husband that Kafayat has relocated from her previous apartment in case I still want to come and greet her. They have been married not even up to a year and they had a societal wedding unlike mine which was only Nikkah.
“On Thursday and Saturday, I went to greet her in the new location described by my husband. And it was after I went to greet Kafayat at home that he suddenly changed his attitude towards me. If I sleep in the bedroom, he would sleep in the parlour and if I sleep in the parlour, he would go to the bedroom. But all my family and friends advised me to be patient for the sake of the children whenever I complained.
“They didn’t tell me anything about the naming ceremony except people that called me to ask why I was not present,” Shade declared.
She said it was on Saturday, after they finished the naming, that her husband brought the car owned by his elder brother home which they used to do all the running around and packing of items during the event.
“Although before we got married, his brother had been using the car and this is not his first time he would borrow it.
“If we were talking during the period or I had a premonition of what would happen, I would have told him to return the car to the owner who will need it to go to work on Monday. He didn’t return the car and didn’t park it at the venue of the event. Why is it that he had to park it here where I am staying?
“Now the car was there from that Saturday till Sunday when the incident happened.
“After the children requested noodles to take to school the next day, I went to the shop to get the indomie noodles for them. Before I went, my last born, Mohammed, was crying but I said the sun was much and I would not want to take him outside because of the heat. I called Maryam who is the eldest to take care of her siblings.
“But when I came back, I noticed that the children had scattered the entire room and met the door open. I also saw their shoes and envisaged they would not be out of the premises because they would put on their shoes if they were going outside the gate. I never thought of the vehicle even for a second.
“From my house to the shop is just a N100 bike. I called out for them when I came and couldn’t find them. Initially I thought they were playing hide and seek with me. I checked everywhere but to no avail. My landlady had gone to work because she was on morning duty.
“The flat next to us was occupied by aged couples and my children don’t usually go inside their house except on a few occasions.
“When I couldn’t find them, I checked inside the domestic well but nothing was there, I took Okada to the junction crying that I couldn’t find my children.
“When I came back, I went to knock at the door of the next flat to tell them that I couldn’t find my children, the woman’s husband was already asleep.
“She told me she heard their cries about 10 minutes ago, when she was even calling Maryam, asking why she was beating her siblings. Later something just told me to check inside the vehicle and I saw them inside.
“I managed to open one of the doors and met them just lying down but the remaining three doors did not open. I was asking them why they went inside the car, which they don’t usually do. But their posture and the way I saw them made me terrified, I called them but no answer and I started shouting for help.
“It was the woman’s husband that came to force the other doors open and dragged Mohammed out, his hand got injured in the process.
“So my shout later attracted some boys and other people outside, some of whom jumped our security fence and we started pouring water on them to revive them but to no avail. It was those people that rushed them to Olutayo hospital, I didn’t see them after that.
“Me and my husband were still not in talking terms up till that Sunday morning, though he slept in the house that day but people would hardly know that we have issues or are quarrelling because he still used to take us to the shop and drop us at home and the children were even appreciating him. Even if he wants to communicate with me, it’s through the children.
“Earlier before that day, he sent Maryam to go and ask a nearby vulcanizer, Jamiu, how much it will cost to repair one of the tyres of the vehicle,” she stated.
The distraught mother added: “Since the incident I have not set my eyes on their dad but I was told he came here at our family house.
“He has also called me twice since the incident saying thrash for all I care, asking when am I coming home or what do I feel.
“The police came and I also narrated this to them. They said the Inspector General of Police was interested and was the one who called the Commissioner of Police to inquire what was going on in Kwara State before they later sent officers here.
“But I have strengthened my faith in Almighty Allah coupled with the people that God surrounded me with. That is just what is keeping me going.”
Comrade Joe Ajaero, President of the Nigeria Labour Congress (NLC), has asked President Bola Tinubu to fulfil his promises to Nigerians rather singling the union out for criticism.
During the commissioning of the Red-Line Railway Project in Lagos, on Thursday, Tinubu had accused NLC of partisanship.
Rejecting the nationwide protest over widespread hardship in the land, Tinubu said the union was unfair to his 9-month-old administration.
“Allow me to throw a jab here. The Labour Union should understand that no matter how much we cling to our freedom and rights, to call for strike within 9 months of an administration is unacceptable… If you want to participate in the electoral process, meet us in 2027. If not maintain peace. You are not only voice of Nigeria,” Tinubu had said.
In his response on Friday, Ajaero said, “We find these remarks, particularly those concerning the role of Labour in governance, to be profoundly at variance with the struggles faced by ordinary Nigerians under existing policies.
“President Tinubu’s insinuation that Labour lacks the moral ground to challenge his administration, merely nine months into office, is deeply troubling. Moreover, his focus on partisan issues and the distant 2027 election cycle, rather than the urgent needs of the populace, further underscores a disconnect from the realities faced by Nigerians on a daily basis.
“It is regrettable that the President seems oblivious to the profound hardships endured by millions of Nigerians. The pervasive hunger, unemployment, housing insecurity, and escalating costs of basic necessities such as food and healthcare demand immediate attention and decisive action. Yet, instead of addressing these pressing concerns, President Tinubu appears preoccupied with political calculations and future electoral prospects.
“The NLC wishes to emphasize that our primary objective is not to vie for political positions, including that of the President. Rather, our sole focus is on advocating for effective governance that prioritizes the welfare and security of all Nigerians. We urge President Tinubu to redirect his efforts towards fulfilling this fundamental duty of public office, rather than engaging in political rhetoric.
“It is imperative that we refocus our collective energy on addressing the substantive issues that have been the subject of engagement between Labour and the government since June 2023. These include critical matters such as wage increases, social welfare programs, infrastructure development, and the revitalization of key sectors such as education and healthcare.
“In any case to avoid the dissipation of energy, it is important that we focus on the real issues because we have engaged the government since June 2023 after the subsidy is gone statement. The issues are around the non-implementation of agreements reached between us and the government.
“For example; on June 5, 2023 after the hike in the Price of PMS, the following agreements were reached between us and the Government viz;1. Review Proposal for Wage Increase and Award including framework for timing and implementation.
“Mr. President, these agreements were reached but the Committee that was saddled with working on these was never inaugurated and none of them was implemented until we were forced to organize a nationwide rally while the president gave his personal commitment. However, Mr. President, nothing came out of your promises.
“It took another round of protests for the October 2, 2023 agreement to be reached. We outline the agreement below so that your government will tell Nigerians which one it has been able to implement.”
[DailyPost]