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The Ministry of Steel Development, under the Federal Government, is proceeding with the concession process for Ajaokuta Steel Company, aiming to expedite its revival.
Minister Shuaibu Audu revealed plans for a three-year ultimatum to initiate steel operations, aligning with President Bola Tinubu’s directive.
This follows a previous legal restraint, and despite opposition in 2022, the Federal Executive Council approved the engagement of transaction advisors for the concession.
Audu emphasized that the concession is integral to a three-year roadmap addressing the steel company’s dormancy and reducing the nation’s heavy reliance on steel imports.
Lagos inland waterways case: Oba elegushi clears air on supreme court ruling
He said, “About the three-year plan for Ajoakuta Steel and whether we should assume that it would start working, I think the short answer is yes.
“The three-year plan is to enable us to start production of some form of steel in the next three years, so we should be able to get the light steel mill working, the engineering workshop working, we should be able to get some of the lines plants working and operating at near full capacity or full capacity.
“Part of what we would also do within that three years is to concession it to a concessionaire that has the required skill set to be able to have liquid steel production coming out of blast points. Ideally, in a perfect scenario, that’s what we would like.
“And I suspect that the concession agreement to be worthwhile for the concessionaire would have to be a minimum of let’s say, 10 or 30 years agreement where they would be able to recoup their capital.”
According to him, the implementation of the road map which requires an investment of $5bn will create 500, 000 jobs and a possible revenue of $10bn.
Audu added that the ministry is considering all available options with stakeholders to avoid the misdeeds of previous administrations, adding that ongoing litigation have been resolved.
The minister added, “Based on the advice I’ve been provided with and based on some of the data that I’ve seen and the technical analyses that have been done, we would need between $2bn and $5bn to revive this entire Ajaokuta Steel Complex but certain things can be done in piecemeal before we resolve the entire issue with the plant.
“What we plan to do is to restart the Light Steel Mill section, which will cost us about N35 billion for us to be able to produce 50,000 metric tonnes of iron rods. When we achieve all of these, we expect to bring $10bn into the economy and 500,000 direct and indirect jobs for Nigerians. Right now, 90 per cent of our steel demand is imported and we spend in excess of $4bn annually on the importation of steel and we are going to reverse that trend.”
The minister also stated plans to commence the construction of new steel companies through foreign investors from China in order to meet local production demands.
“We have also engaged with foreign investors to start new steel plants in the country. We have met with Chinese investors to look into how to set up a new steel plant in Nigeria and I am sure all of these plans will come to fruition soon.
“Part of what we need to do for this is to identify a new location, would it be a green field location or ground field location that has enough land mass with the needed infrastructure? Ideally, where we intend to get is to have 90 percent local production and 10 percent import,” he said.
Commercial banks in the country are heaving a sigh of relief as the Central Bank of Nigeira (CBN) reversed to its old ways of calculating and deducting cash reserve requirement (CRR), a move that analysts say will see an increase in the loan books of banks.
While the move has been commended and described as one of the best news for banks in recent time, there are still questions that remain unanswered. The CBN had issued a circular titled “Cash Reserve Requirement Framework Implementation Guideline” yesterday to all banks and signed by the acting Director Banking Supervision department, Dr Adetona Adedeji.
According to the circular, the CBN is ceasing daily CRR debits and will be adopting an updated Cash Reserve Requirement (CRR) mechanism that is intended to facilitate banks’ capacity for planning, monitoring, and aligning their records with the CBN.
CRR is a percentage of a bank’s total deposits that it is required to maintain in the form of cash reserves with the central bank. Central bank across the world use it as a monetary policy tool to control the money supply in an economy and influence inflation and liquidity levels.
In Nigeria, the CRR has been set as 32.5 per cent of deposits and the CBN has in the past computed CRR daily and regularly debited trillions of naira from banks’ account but the new circular states that the determination of the segment of deposits subject to sterilization with the CBN as CRR will follow the old process.
Accordingly, it stated that in phase one of the process, the determination will utilize an incremental approach as “the extant ratio (32.5%) will be applied to increases in the banks’ weekly average adjusted deposits.”
This means that after the CRR has been debited, only the increase in the deposits will be sterilized onward. Typically what happened before the rule was changed by the previous CBN leadership was that every two weeks, if the deposit of the bank increased, the CBN will take 32.5 per cent of the increase of as additional CRR. This is the process that the CBN is reverting to.
Also, the circular noted that “CRR levy of 50 per cent of the lending shortfall will be enforced for banks that do not meet the minimum Loan to Deposit Ratio (LDR) as per our correspondence to all banks referenced BSD/DIR/GEN/LAB/12/049 dated September 30, 2019.”
LDR the proportion of a bank’s total loans to its total deposits, and is calculated by dividing the total loans by the total deposits and then multiplying the result by 100 to express it as a percentage. The CBN had set LDR at 65 per cent, thus with the new guideline, the CBN in addition to the CRR, the penalty for not meeting the LDR is 50 per cent of the shortfall of what should have been given out.
Commenting on the latest guideline, President, Nigerian Economic Society, Professor Adeola Adenikinju, a member of the Monetary Policy Committee which had set the previous rule noted that under the previous CBN governor, the dynamic CRR (DCRR) was introduced to compel the banks to lend instead of just buying government fixed income assets or playing in the forex account with surplus cash.
He explained that the DCRR was “designed to compel banks to do more lending and reduce their surplus cash that they could put into the forex market or into fixed income assets. Emefiele introduced the LDR, loan to deposits ratio, which is the minimum rate of deposits that banks must lend. Any bank that failed to meet the LDR, the shortfall is taken away from the bank balances and added to the CRR. Hence, the actual CRR was much higher than the 32.5 per cent.”
To Head of Financial Institutions ratings at Agusto & Co, Ayokunle Olubunmi, “this is one of the best news that the banks can have. The current rate for CRR is 32.5 but what we have seen in the era of the former CBN governor is that they don’t adhere to the rule. The CBN can just wake up and debit you anyhow. There were some banks that had over 50 per cent of their naira deposit sterilized with the CBN.”
Nine months financials of 10 banks for the period ended September 2023 showed that their CRR stood at N13.81 trillion up from N9.56 trillion a year ago, representing a 45.51 percent increase.
Speaking on the LDR, Adenikinju said “the new circular has reduced how much banks could lose to failure to meet the LDR to 50 per cent instead of the entire amount, as was the practice in the past. The new circular would also allow the banks to estimate their CRR and be able to plan more effectively.
“This would also be done weekly instead of daily. It will also now be universal among the banks instead of selective applications in the past. The 50 per cent additional CRR would be equally applied to all the banks that fall below their LDR”
On implications for banks, Olubunmi said it will enable banks to be able to plan adequately “they will be able to know how much the CBN will sterilize and they can plan thier portfolios and their activities. That is what the banks have been complaining of. They don’t even know how the CRR has been deducted. They what to know what we are working with so that we can plan adequately.
“Secondly, we will see a significant increase in the industry loan book because a lot of banks will be working towards avoiding the penalty that comes with not meeting the LDR.” However the circular remains unclear as to whether the CBN will refund excess CRR that has been deducted as well as what it will do in the case where the deposit reduces rather than increase.
Leadership findings reveal that the CBN is yet to refund CRR of some merchant banks after it revised downwards their CRR from 32.5 per cent to 10 per cent.
Following the growing spake of insecurity in the country, a chieftain of the People’s Democratic Party (PDP) and former campaign spokesperson of Atiku Abubakar, Daniel Bwala, has said President Bola Tinubu regrets the anger and frustration expressed by Nigerians.
Bwala made the remark while speaking in a statement issued via his official X handle on Wednesday, January 31.
He assured Nigerians that President Tinubu would do everything possible to address the security and economic challenges confronting the country.
Bwala said the hydra-headed security challenge is a test to Nigerians, but the president would ensure it’s resolved in due time.
He, therefore, charged the citizens to remain resilient and keep faith in the country, stressing that Nigeria is a unique country of resilient people.
He wrote: “Fellow countrymen, keep faith with your country; Nigeria is a unique country of resilient people.
“@officialABAT will do whatever he can to address the myriad of challenges confronting the Nigerian people.
“Your frustration and anger are deeply regretted. But I assure you that the labour of our heroes’ past shall never be in vain.
The hydra-headed security challenge is testing our resolve, but If we stay hopeful and resilient amidst these trying times, we will rise undaunted as a nation.”
The Federal Government through the Central Bank of Nigeria has raised the exchange rate for cargo clearance from N952/$ to N1.356 per dollar.
This is coming weeks after the rate was increased from N783/$ to N952/$.
In November, the exchange rate for cargo clearance was raised from N757 per dollar to N783 per dollar, representing a 3.4 per cent increase, and was later raised from N783/$ to N952/$ in December.
However, it was observed on Friday that the new rate has been reflected on the portal of the Nigeria Customs Service.
According to Punch, a member of the Association of Nigerian Licensed Customs Agents, Remilekun Sikiru, in a chat with the newspaper on Friday, said, “How do we explain this? From N952/$ to N1.4/$ as of Friday morning with about N404 increase? It’s quite unfortunate that the prices of goods and commodities will automatically increase. Importation would further decrease and depreciate, vehicle prices would skyrocket again.
“Since this unification of a thing, the government has refused to look inward and critically into the maritime industry as regards importation and exportation. The sector have been neglected and things are getting worse daily. The question now is, how would freight forwarders and customs brokers agents cope with this new rate?”
Also speaking, an agent, Ben Anya, said that they woke up to the new rate, “which was before now set at N951 per dollar,”
Anya explained that with the latest increase in the exchange rate, the cost of clearing would increase.
“And this would also affect the cost of goods in the market. It would also lead to a drop in importation,” he said.
The Department of State Services, DSS, has cautioned all contending parties in the February 3, 2024 by-elections to shun all acts capable of causing a breakdown of law and order.
The agency enjoined public commentators, social critics and key players in the public space to consider the peace of the country over and above their personal or group interests.
This is even as the Service assured that it will work with the Independent National Electoral Commission, INEC, other sister security and law enforcement agencies and all stakeholders to ensure a hitch-free election.
This was made known in a statement on Friday by Peter Afunanya, the Director, PR & Strategic Communications, DSS National Headquarters, Abuja.
Afunanya assured that the DSS will continue to implement proactive measures to achieve the desired stability in the country.
He further advised those engaging in subversive endeavours or desirous of doing so to desist from such as the Service will not hesitate to ensure that defaulters, no matter how highly placed, face the full weight of the law.
The Central Bank of Nigeria (CBN) has prohibited banks and fintech companies from engaging in international money transfer services.
This directive, outlined in the revised guidelines for International Money Transfer Operators (IMTOs), was officially communicated on January 31, 2024.
The exclusion mentioned in the document pertains to individuals associated with the management, shareholders, and officers of banks.
The document reads: “All banks are prohibited from operating International Money Transfer services but can act as agents.
“Also, Financial Technology Companies are not allowed to obtain approval for IMTO.
“The provisions of BOFIA 2020 on the prohibition of employment of certain persons in banks shall also apply to IMTOS.”
In the previous guidelines issued in 2014, only deposit money banks were prohibited. However, the CBN has extended the ban to fintechs.
N10 Million Application Fee
The apex bank also increased the application fee for IMTO licence from N500,000 in 2014 to N10 million in the revised guidelines. This is an increase of about 1,900% in about 10 years.
The document noted that any IMTO intending to operate in Nigeria shall submit its application to the Director, Trade and Exchange Department with the following documents, among others:
“A non-refundable application fee of N10,000,000.00 (Ten Million Naira only) or such other amount that the Bank may specify from time to time; payable to the CBN through electronic transfer or bank draft.
“Approval to operate in other jurisdictions or agency agreement (for all IMTOs).
“Evidence of tax clearance and incorporation documents in Nigeria (for indigenous IMTOS) to include Memorandum and Articles of Association (Certified True Copy), of which the primary object clause shall indicate provision of money transfer services.”
There is also an annual renewal at a fee of N10 million naira, or any amount that the apex bank may specify from time to time; payable to the CBN through electronic transfer or bank draft on or before 31st January of the year.
It was also noted that the renewal of IMTO approval shall be done within the first quarter of every year, adding that where an IMTO fails to avail its agent bank of a copy of CBN renewal of its IMTO approval for that year within the first quarter of the year, the bank should cease any further transaction with the IMTO.
Super Eagles defender, William Troost-Ekong has revealed that head coach Jose Peseiro almost made him stop playing for Nigeria because of a disagreement he had with the Portuguese.
Speaking in an interview with ESPN, the former Udinese and Watford star said he was not sure of playing at the ongoing 2023 Africa Cup of Nations, AFCON, in Ivory Coast.
“I was not sure if I was going to play this AFCON or not and to be honest, I was not sure if I was going to continue with the national team either because I was weighing all my options,” Troost-Ekong said.
“I felt that maybe the only thing that was going to stop me this time was that there was some disagreement with the coach [Peseiro] before the tournament so I was not sure if I was going to be part of the squad or not.”
He added, “I stayed in communication with the team, I was wishing them well. I also reminded the coach that I am available and I think everyone was impressed with how I was playing in the league and also the European Conference League.”
Troost-Ekong has been solid for Nigeria at the AFCON.
The 30-year-old scored a goal for Nigeria against the host nation Ivory Coast.
Ondo State governor, Hon. Lucky Orimisan Aiyedatiwa, has transmitted the names of six Commissioner-nominees to the State House of Assembly for screening and confirmation.
The development is contained in a statement issued on Friday by his chief press secretary, Ebenezer Adeniyan.
According to the statement, the six nominated for appointment are Mrs. Omowumi Isaac, ACCA, Mr. Olukayode A. Ajulo, SAN, Engr. Razaq Obe, Pastor Emmanuel Igbasan, Barrister Akinwumi Sowore, and Mr. Oseni Oyeniyi.
The governor also appointed three Special Advisers. The nominees are Hon. Olugbenga Omole (Special Adviser on Information & Strategy), Mrs. Olamide Falana (Special Adviser on Gender Affairs), and Mr. Alabi Johnson, (Special Adviser on Energy).
The president of the Senate, Godswill Akpabio, on Friday flew into Abidjan Cote d’Ivoire to support the Super Eagles of Nigeria in the quarter final match against Angola.
Akpabio being received in Cote d’Ivoire
Accompanying Akpabio, is Senator Simon Lalong, former Governor of Plateau State, among others.
Lalong in a social media statement, declared:
Sen. Simon Bako Lalong
@LalongBako
Akpabio, Lalong and others
“Today, I joined H.E. @SPNigeria Godswill Akpabio on a journey to Abidjan, Cote d’Ivoire, to rally behind the Super Eagles of Nigeria as they face Angola in the quarterfinals.
“The nation stands united in support of d Eagles, & I am confident they will bring pride to us. Go Eagles!”
[NationalDaily]
French President Emmanuel Macron confirmed on Friday that two French aid workers had been killed in a Russian strike in Ukraine and condemned the attack as “outrageous”.
Ukranian officials said the two men died in a recent drone attack in southern Ukraine.
“Two French aid workers have been killed in Ukraine by a Russian strike. A cowardly and outrageous act,” Macron said on X (formerly Twitter).
“My solidarity goes out to all the volunteers who are committed to helping people,” he added.
Foreign Minister Stephane Sejourne added: “Russia will have to answer for its crimes.”
Ukranian officials said that two French nationals were killed and three other foreigners wounded on Thursday in Beryslav, near the southern Ukrainian city of Kherson.
Ukrainian police said they had died as a result of a drone attack.
Beryslav, which sits on the Dnipro River close to the front line, has regularly been targeted by Russian drones and artillery.
Ukrainian President Volodymyr Zelensky voiced gratitude for the Frenchmen’s work in his war-torn country.
“Russian terror knows no boundaries or victims’ nationalities.
“The brave French aid workers assisted people and we will always be grateful for their humanity.
“My condolences go out to their loved ones,” Zelensky wrote on social media.
AFP
More...
Governor Lucky Orimisan Aiyedatiwa of Ondo State has nominated six persons for appointment as Commissioners.
In a statement issued on Friday by his Chief Press Secretary, Ebenezer Adeniyan, the governor said the nominees will assist him in the day-to-day running of the government of the state.
The statement added that Governor Aiyedatiwa had forwarded the names of the Commissioner-nominees to the State House of Assembly for screening and confirmation.
It stated that three of the commissioners and two special advisers sacked last week by the governor, were amongst the new special advisers and commissioner nominees.
According to the statement, the nominees are Omowumi Isaac, ACCA, Olukayode A. Ajulo (SAN), Engr. Razaq Obe, Pastor Emmanuel Igbasan, Barrister Akinwumi Sowore, and Oseni Oyeniyi.
The governor also appointed three Special Advisers. The nominees are Hon. Olugbenga Omole (Special Adviser on Information & Strategy), Olamide Falana (Special Adviser on Gender Affairs), and Alabi Johnson, (Special Adviser on Energy).
[NaijaNews]
As President Bola Tinubu sets up a committee to decide a new minimum wage for Nigerian civil servants, it would seem worrisome that the country’s rising inflation, currently at 28.92%, is yet to be tamed.
Economists believe the implementation of a substantial new minimum wage will hurt the economy with more than 50% inflation. This is just as the naira exchange rate to international currencies widens daily.
President Tinubu is touting a minimum wage that will be satisfactory to all, which leaves many in wonderment what that would be.
According to the World Bank, People living below the poverty line don’t have enough to meet their basic needs. Countries typically define national poverty lines, using the lines of a group of the poorest countries to define the international extreme poverty line of $1.90 per day.
Currently, at the rate of N1,520/$, a N30,000 monthly wage is worth 66 cents per day, which is far below the poverty line.
If the committee set up to recommend a new minimum wage, does it by the World Bank’s standard, that means the next minimum wage must be at least N84,474, going by the current exchange rate to the dollar.
Considering the fact that the civil service across the states and the federal government is at least 1.7 million, an addition of at least N50,000 per civil servant would mean infusing N85 billion into the economy every month, or N1.02 trillion every year.
Without value addition in terms of productivity, the government will resort to printing or borrowing money endlessly to meet its recurrent expenditure, which would in turn cause massive demand-pull inflation.
The President said his administration hopes to surpass the basic Social Protection Floor for all Nigerian workers, considering the sustainable payment capacity of each tier of government for employers or businesses.
Veteran stockbroker and lecturer at Adeleke University, Professor Tayo Bello, told Nairametrics that increasing wages in Nigeria during a period of rising inflation could initially provide relief to workers by improving their purchasing power and standard of living. He said higher wages may contribute to a boost in consumer spending, potentially stimulating economic activity.
- “However, the downside is that this wage increase might exacerbate inflationary pressures. As businesses face higher labor costs, they may pass on these expenses to consumers through increased prices for goods and services. This, in turn, could create a feedback loop, with rising wages fueling further inflation,” he said.
Dr. Tosin Olaleye, an economic affairs analyst, also told Nairametrics that small and medium-sized enterprises (SMEs), which make up more than 96% of businesses in Nigeria, may be particularly vulnerable to increased wage costs, potentially leading to layoffs or business closures.
He said this could negatively impact employment levels and overall economic productivity. He also said depending on how well the minimum wage is managed, the exercise could increase the rate of inflation by as much as 50%
Special Advisor to President Bola Tinubu on PEBEC and Investment, Dr. Jumoke Oduwole, revealed that 39.7 million MSMEs in Nigeria today account for roughly 96% of businesses and 88% of jobs.
Financial economist at Ebonyi State University, Dr. Nelson Nkwo, noted that the government may need to implement complementary policies to manage the potential negative effects of wage increases, such as tightening monetary policy to control inflation and providing support to affected businesses through targeted interventions.
- He said striking a balance between addressing the legitimate demands for higher wages and managing inflationary pressures is crucial for achieving sustainable economic growth.” Policymakers must carefully consider the broader economic implications and adopt a comprehensive approach to ensure a harmonious and stable economic environment,” he stated.
Drawing strength from the outcome of the Udoji Commission in 1972, Nkwo said, “I fear we may have another bout of uncontrollable inflation, maybe above 50%, if the wage increase is not properly managed.”
Also speaking, the chief executive of Anthill Concepts Limited, Dr. Emeka Okengwu, stated that it is more appropriate to be talking about living wage because living wage takes into consideration what minimum wage does not.
He said a living wage would contain three major factors, including energy cost, which would include electricity and transportation, education, and the cost of food and healthcare.
He caveated that this cannot be achieved without productivity because it cannot be accomplished with imported goods and services such as energy and health facilities.
He also cautioned that it’s only a small percentage of Nigerians that are in paid employment and a smaller percentage of Nigerians in the civil service.
According to the Anker Reference Value Update Rural Nigeria 2023, the Living Income for 2023 is NGN 232,948 (USD 383). This update takes into account the amount of inflation to mid-2023 for the country since mid-2020.
Accumulated inflation in this period was 68.0%. “Without accounting for inflation, the living income estimated in 2020 would not be sufficient for families to have a basic but decent standard of living in 2023, because the purchasing power of the living income would have decreased.
The Coordinator of the Independent Shareholders Association of Nigeria, Moses Igbrude, and Professor Tayo Bello agreed that increasing the minimum wage will not be the ultimate solution to the underlying problem laborers face.
Speaking separately, they cited that the government needs to improve the country’s productivity, especially in the agriculture and manufacturing sectors.
Igbrude noted that an increase in the minimum wage at this time would reduce the value of the increase in no time because there are no measures in place to curb the rising inflation and the sliding value of the naira, which is another major cause of inflation.
[Nairametrics]
Nigeria is the second-largest trading partner in Africa to the United States of America, Julie Leblanc, U.S. Commercial Counselor to Nigeria, said during her speech held at the BusinessDay Africa Trade and Investment Summit.
The event organised by Africa’s business journal of international repute, BusinessDay, is currently taking place at the Eko Convention Centre, Lagos, and has had captains of industry, senior government officials, and members of some diplomatic coups in attendance, with more to speak today (Friday).
Leblanc, who stood in for Will Stevens, the U.S. Mission to Nigeria, and of Consul General, spoke about the significance of strengthening bilateral trade relations between the U.S. and Africa, and in particular Nigeria.
She emphasised the roles played by the U.S. government to reduce the trade gap between both countries.
She said, “Turning our attention to Nigeria, one of the continent’s largest economies, we recognise the vital role it plays in regional and global markets. With two-way trade exceeding $10.6 billion in 2022 and U.S. foreign direct investment totaling $5.6 billion, Nigeria stands as our second-largest trading partner in Africa.”
The U.S. envoy stated the specific areas that have helped improve this bilateral relationship, with more focus directed towards enhancements in technology, education, healthcare, and agriculture, amongst other areas.
Leblanc said, “Our partnership is increasingly technology-driven, with significant investments in Nigeria’s tech ecosystem and collaborative efforts to tackle global challenges in education, healthcare, agriculture, and other key areas.”
LeBlanc highlighted the pioneering programme of the Biden-Harris Administration, the Digital Transformation with Africa (DTA), as a demonstration of the U.S.’s commitment to enhancing productivity in its partnership, particularly with Nigeria and the entire continent of Africa.
She says, amongst several things, that the DTA is going to “expand digital access, enhance U.S.-Africa commercial relations, and strengthen digital environments in alignment with the African Union’s Digital Transformation Strategy.”
The programme was created not only to acknowledge the continent’s contribution to global trade but also, most importantly, to amplify its role in global digital transformation.
In addition to the remarkable initiatives aimed at enhancing trade relations between the world’s largest economy and Nigeria, the U.S. envoy highlighted several commendable programmes the U.S. government employs to bolster Africa’s presence on the global stage.
Among these initiatives is the U.S.-African Continental Free Trade Area Memorandum of Understanding. The U.S. government’s unwavering confidence in the programme is reflected in its investment of $160 million to support it.
According to Leblanc, “this funding supports the development of digital trade and investment protocols, stakeholder engagement across Africa, and trade facilitation efforts.
“Our focus is on expanding trade in goods and services, digital trade, and supporting the Women and Youth Protocol of the African Continental Free Trade Area.”
[BusinessDay]
The Belgium government has sounded a warning that it is not easy to survive in Belgium, albeit Europe without a decent job.
Belgium also expressed concern over the spike in some asylum seekers from Nigeria in the post-COVID era, saying it has increased from 50 to 380 in 2023.
Freddy Roosemont, Director General, Office of Foreigners, Belgium barked out the warning while addressing journalists in Abuja on Friday.
Roosemont said right now there is no space for people to migrate to in his country, as lots of irregular migrants end up on the streets.
He therefore stressed that most dreams of a better life in Europe are nothing but eldorado; adding that it’s a dream and not a reality.
He said: “First of all, informing the people correctly, because that they often leave with a dream. If I say to the investor, you’re gonna win the lottery next week and it’s going to bring you a million euros and he believes me it will be a dream, is that dream realistic? Not at all.
“So first of all, you have to take away the dream. The dream is not real. That’s why I’m telling you and I hope that through you, the public is aware that dream is not real.
“It’s not easy to survive in Europe, without a decent job and without sort of being an employer or by a university. The dream is fake.
“The second thing is, of course, we have legal migration, but legal migration will not be for 10,000 for 5000 people. It will be for some people who have gone through some conditions. Somebody who wants to study in Belgium is very welcome. But he first has to show to the university that he will be capable of following the studies there in English, that if he’s studying medicine he has a sort of basics to study medicine, and if he wants to become an engineer, that he has a technical knowledge that he is good in maths and so on. So there it’s the division University is going to select who they let it was not only from Nigeria, it’s from everywhere in the world like that.
“The work possibilities are there, but it will be a Belgium employer who is looking for somebody who can fill a position in his company, and he has connections, he knows that you’re capable of doing so that he asks at the Belgium service of labour if he can contact you give you a contract and get you over family reunification is easy to do.
“So you need a family you need a wife and your children. But those three are the three main levels of legal migration.”
He also warned that coming to Belgium to seek asylum would not work, as there is a low chance of obtaining a residence permit.
“So at that moment, we have to limit the reception of asylum seekers only to people who are vulnerable and that means families, women with children. No man alone, not in that group.
“So for the moment there are lots of these asylum seekers living in Brussels on the street, and I can assure you the temperature in Brussels is not what it is here in Abuja. It got to minus seven, minus five. Now it’s around zero Celsius.
“So it’s really not easy to survive in Brussels without help without assistance.
“We are by law obliged to give that assistance but we simply can’t do it because places are filled up or simply filled up. It’s a very painful situation for Belgium, but it’s like that if you look at the newspapers, if you look at the journals, if you walk in the streets in Brussels, you’re going to see everywhere, people sleeping on the streets and people trying to survive without any help.
“Secondly, we also see that a lot of people, especially girls are forced into prostitution in the big cities.
“If we find girls like that, we try to help them we try to help them to come to come them the people come keep guilty of that.”
He also added that certain procedures in the Belgium Justice Department would help girls who want to leave the profession. So we get quite good information about what they have to do and what they earn. And they earn nothing, their passport will be taken away from them. Their humanity will be taken away from them and they will end up there and that’s why you have to inform your public, the people of Nigeria, the youth of Nigeria that things like that are still going on in Europe and Belgium.
Roosemont pleaded with the media to help educate the people, saying “Notifying the youth that it’s not the dream to go to Europe to go to Belgium is not realistic and it’s very dangerous. So that’s why I making that brief. That’s also the reason why we were here in Nigeria the last week to try to inform the youth directly or indirectly, that the thing that they hope is not realistic. It’s a very dangerous thing.”