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President Bola Ahmed Tinubu yesterday left for Rio de Janeiro, Brazil, to attend the 19th G20 Leaders’ Summit.
The President who left Abuja last night after rounding off his bi-lateral meeting with Indian Prime Minister Narendra Modi, will attend the summit on the invitation of host President Luiz Inácio Lula da Silva.
The summit holds today and tomorrow.
The theme of the summit is “Building a Just World and a Sustainable Planet.”
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the gathering will bring together leaders from the world’s largest economies, alongside representatives from the African Union, the European Union, and key international financial institutions.
The summit’s agenda includes discussions on combating global hunger and poverty, reforming international governance structures, and advancing sustainable development and energy transition efforts.
These topics align closely with Nigeria’s long-standing advocacy for global institutional reforms and its aspirations for a permanent seat on the United Nations Security Council.
On the sidelines of the summit, President Tinubu is expected to hold bilateral meetings to further Nigeria’s socio-economic reform agenda.
Accompanying the president is a high-level delegation, including Foreign Affairs Minister, Ambassador Yusuf Tuggar; Minister of Livestock Development, Idi Mukhtar Maiha; Minister of Art, Tourism, Culture and Creative Economy, Hannatu Musawa; Minister of State for Agriculture and Food Security, Dr. Aliyu Sabi Abdullahi; and the Director-General of the National Intelligence Agency, Ambassador Mohammed Mohammed.
Members of the G20 are: United States, United Kingdom, Russia, Canada, China, France, Germany, Argentina, Australia, Brazil, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, , Saudi Arabia, South Africa, Turkey, and the European Union.
[TheNation]
Governor Umar Namadi’s government of Jigawa State has introduced a new digital tax payment system to enhance revenue collection and address the issue of multiple taxation.
Dr Nasiru Sabo Idris, the Chairman of the Jigawa State Internal Revenue Service (JIRS), announced the launch of the Jigawa Integrated Tax Administration System (JIGTAS), which is intended to modernize the processes of revenue mobilization and payment throughout the state.
During a recent event in Dutse, Idris highlighted that a workshop was conducted for accountants and revenue mobilizers from various ministries, departments, and agencies (MDAs) to improve their skills in effectively utilizing the new system.
The JIGTAS system is specifically designed to facilitate the collection and remittance of internally generated revenue (IGR) across MDAs.
In a related development, the Akwa Ibom State Government has announced plans to fully digitize all tax collection processes starting in the 2025 fiscal year.
The Executive Chairman of the Akwa Ibom State Revenue Board, Okon Okon, disclosed this during a media briefing in Uyo on Sunday.
He explained that the implementation of electronic assessment, e-tax clearance processes, e-filing of tax returns, and the automation of registration and reporting processes is expected to significantly enhance revenue generation in the state once the digitalization initiatives are put into action.
[PRESS STATEMENT] Dabiri-Erewa celebrates Chidimma's emergence as First Runner up ,Miss Universe
Admin![[PRESS STATEMENT] Dabiri-Erewa celebrates Chidimma's emergence as First Runner up ,Miss Universe](/media/k2/items/cache/fcd332285a284d3271cbd586d9879c3f_M.jpg?t=20241117_193819)
Hon. Abike Dabiri-Erewa, Chairman/CEO Nigerians in Diaspora Commission (NIDCOM) has congratulated
Nigeria’s Chidimma Adetshina for emerging second at Miss Universe 2024, describing it as a reward for her doggedness and resilience.
In a congratulatory statement issued by Abdur-Rahman Balogun, Director of Media, Public Relations and Protocols of the Commission, the NIDCOM boss was excited that despite all odds, Chidimma remained focused and attained her goals.
Dabiri-Erewa said though Chidimma Adetshina as
Nigeria’s representative, finished as the first runner-up at the 73rd Miss Universe Competition held in Mexico, her courage, determination and support from Nigeria eventually paid off. She was also named Miss Africa and Oceania 2024.
Dabiri-Erewa recalled Adetshina’s controversial official withdrawal from the Miss South Africa 2024 contest, of which she had advanced to the final stage ,some few months back, noting that Nigeria warmly welcomed her, after being literally forced out of South Africa.
While in Nigeria, accompanied by President Silverbird group, Mr Guy Murray Bruce, Chidinma was warmly received at the NIDCOM Lagos office, and thereafter hosted to a grand reception at Idris Olorunnibe’s “The Temple,” Victoria Island, with music legend, Dbanj in attendance.
Describing her as brilliant, focussed and determined, she urged others to emulate the spirit of Nigerianess in Chidimma by being proud of the country and not run it down under whatever guise.
The competition, described as one of the most thrilling in recent years, celebrated the talents, intelligence, and elegance of women from around the globe.
Nigeria came second behind Miss Denmark, Victoria Kjaer Theilvig, who won the keenly contested crown from Miss Universe 2023, Sheynnis Palacios of Nicaragua.
It will be recalled that Chidimma was rejected by South Africa who expressed worries and questioned her nationality.
Due to that, Adetshina came to Nigeria to represent Taraba State and won the title of Miss Universe Nigeria.organised by the Silverbird group
E- signed.
Abdur-Rahman Balogun
Director of Media, Public Relations and Protocols Unit, NiDCOM, Abuja.
Media
[STATE HOUSE PRESS RELEASE] President Tinubu Congratulates Gov. Lucky Aiyedatiwa On Election Victory In Ondo State
Admin![[STATE HOUSE PRESS RELEASE] President Tinubu Congratulates Gov. Lucky Aiyedatiwa On Election Victory In Ondo State](/media/k2/items/cache/67e6c2a09f6969a91d3f1a568f417ac9_M.jpg)
President Bola Tinubu felicitates with the winner of Saturday's Ondo State Governorship election, Mr. Lucky Aiyedatiwa of the All Progressives Congress, while also commending the peaceful conduct of the process.
The President congratulates Aiyedatiwa and other candidates of the 17 political parties for the maturity and sense of purpose demonstrated during the campaigns and the election, attributing the success of the polls to the civility in the state.
He enjoins the political actors to allow their orderly conduct to permeate the post-election activities and processes.
President Tinubu believes the Ondo State election was another litmus test of the capacity of the Independent National Electoral Commission, affirming that the electoral body justified the confidence of the people with early preparations, deployment of staff and materials, and handling of the electoral process.
The President also commends INEC for the efficiency of uploading more than 98 per cent of results on the same day of the elections.
President Tinubu extends his appreciation to the Nigerian Police Force, National Civil Defence Corps, Federal Road Safety Corps, National Youth Service Corps, the military and other security outfits for their professionalism in maintaining peace and order.
The President urges candidates dissatisfied with the outcome of the election to explore the opportunities provided by the judicial system to seek redress on areas of conflict.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
Ekiti State Governor, Mr. Biodun Oyebanji, has hailed the re-election of Ondo State Governor, Mr. Lucky Aiyedatiwa, in the November 16, 2024, gubernatorial election as a resounding vote of confidence in the leadership of President Bola Ahmed Tinubu and the All Progressives Congress (APC).
Governor Aiyedatiwa, who contested under the APC banner, was declared the winner by the Independent National Electoral Commission (INEC) after the collation of results concluded on Sunday.
In a statement issued by his Special Adviser on Media, Yinka Oyebode, Governor Oyebanji described the victory as an endorsement of good governance under the APC’s administration in Ondo State and highlighted the people’s trust in the party’s leadership. He praised the electorate for supporting the APC since it came to power in Ondo in 2016, attributing the success to verifiable governance achievements.
“This triumph places a renewed responsibility on Governor Aiyedatiwa to intensify efforts in delivering the dividends of democracy to the people of Ondo State, who have shown unwavering support,” Oyebanji noted.
The Ekiti governor also emphasized that the victory reflected Nigerians’ faith in President Tinubu’s socioeconomic policies, expressing optimism that the administration’s programs would lead to lasting development and economic prosperity.
He commended APC’s National Chairman, Dr. Abdullahi Ganduje; the Progressive Governors’ Forum; the APC National Campaign Council; and other stakeholders for their contributions to the electoral success.
Oyebanji lauded Ondo residents for their peaceful conduct during the election and praised INEC for improvements in election administration, especially the prompt release of results. He also recognized the professionalism of security agencies in ensuring a smooth electoral process.
He urged Governor Aiyedatiwa to remain magnanimous in victory by reaching out to his opponents for inclusive governance. Oyebanji specifically thanked Ekiti indigenes in Ondo for supporting Aiyedatiwa and expressed confidence that they would benefit from the governor’s leadership.
“On behalf of the Government and people of Ekiti State, I congratulate my dear brother, Governor Lucky Ayedatiwa, on this well-deserved victory. We look forward to a stronger partnership between our states for mutual benefit,” he said.
Oyebanji also extended congratulations to President Tinubu for his leadership and efforts in improving the electoral process, as well as to the APC and the people of Ondo for choosing continuity under the party’s governance.
Governor Lucky Aiyedatiwa says his victory in the just-ended governorship poll is a call to deliver more for the people of Ondo State.
Aiyedatiwa won the Ondo governor election which was concluded on Sunday, beating the Peoples Democratic Party (PDP)’s Ajayi Agboola in the largely peaceful exercise.
Speaking to reporters after he was declared as the winner of the poll, the Ondo governor promised better days for residents of the South-West state.
According to him, having visited every part of the state during campaigns, he is more in tune with the needs of the people.
“The people should expect better service. And that’s what they’ve been looking forward to because I campaigned across the entire local government,” he said.
“The only candidate that went through the entire local government, not just the capital city of the local government, all communities. In almost all the communities we visited, we saw the roads and the way they look like, the environment they are living in, we heard their voices, we read their messages and we listened and responded to questions and their yearnings and aspirations.
“So, they have that belief that their hope is in me. They believe that whatever we say is what we will do. We will not tell them what we cannot do. We will do all that we have promised within the limited resources available to us.”
Ondo State Governor, Mr Lucky Ayedatiwa, has been declared winner of the Saturday’s governorship election in the state.
He was returned elected by the Independent National Electoral Commission after winning the governorship poll in all the 18 local government areas of the state.
Ayedatiwa who won in Ese Odo Local Government Area in the last LG result presented on Sunday at the State Collation Centre in Akure, had previously won in the 17 LGs that had earlier been announced.
In the final declaration of the result by the State Returning Officer, Prof Olayemi Akinwumi, he said APC’s Ayedatiwa polled in total of 366,781 votes to defeat Agboola Ajayi of PDP, who got 117,845 votes.
The Returning Officer said, “That Ayedatiwa Lucky Orimisan of APC, having satisfied the requirement of the law is hereby returned elected.”
Details later…
The Independent National Electoral Commission (INEC) has declared Lucky Aiyedatiwa of the All Progressives Congress (APC) as the winner of the Ondo State governorship election held on Saturday.
Aiyedatiwa defeated his closest rival, Mr Agboola Ajayi of the People’s Democratic Party (PDP), securing 366,781 votes to Ajayi’s 117,845. The APC clinched victory in all 18 local government areas of the state.
'My songs will make you buy bedsheets'- Ironha, who took hawking when fire razed his Yaba shop
The Labour Party (LP) and the Zenith Labour Party (ZLP) polled 1,162 and 2,692 votes, respectively.
The results were announced by the collation officer, Prof Olayemi Akinwunmi, at INEC’s State Headquarters in Akure.
See full results: Ondo election live updates: INEC resumes collation of results
ONDO STATE GUBERNATORIAL ELECTION RESULTS (UPDATED)
1– Akure North
APC 14, 451
PDP 5, 787
2–Okitipupa
- APC 26, 811
- PDP 10, 233
3—Akoko Northeast
APC 25, 657
PDP 5, 072
4—Akure South
APC 32, 969
PDP 17, 926
5—Ose –
APC 16, 555
PDP 4, 472
6—Akoko Northwest
APC (25, 010)
PDP 5, 502
7—Akoko Southeast –
APC 12, 140
PDP 2, 692
8—Ondo West
APC 20, 755
PDP 6, 387
9—Owo
APC 31, 914
PDP 4, 740
10–-Akoko Southwest
APC 29, 700
PDP 5, 517
11—Irele
APC 17, 117
PDP 6, 601
12–-Ifedore
APC 14, 157
PDP 5, 897
13—Ondo East
APC 8, 163
PDP 2, 843
14 —Ile Oluji/Oke-Igbo
APC 16, 600
PDP 4, 442
15—–ldanre .
APC 9, 114
PDP 8, 940
- Ilaje LG
APC 24,474
PDP 3623
LP 176
- Ese Odo LG
APC 14511
PDP 7814
- Odigbo LG
APC 26683
PDP 9348
[Vanguard]
President Bola Ahmed Tinubu has welcomed the Prime Minister of India, Narendra Modi, to Nigeria on his first official visit.
Tinubu disclosed this in a statement through his official X handle on Sunday.
According to him, discussions during the visit will seek to explore strategic and corporate relations between Nigeria and India.
“Look forward to welcoming Prime Minister Narendra Modi on his first visit to Nigeria, which is also the first visit by an Indian Prime Minister to our dear country since 2007.
“Our bilateral discussions will seek to expand the strategic partnership between both countries and enhance cooperation in critical sectors. “Welcome to Nigeria, PM Modi,” he wrote.
Modi arrived in the Federal Capital Territory, Abuja, in the early hours of Sunday.
Earlier, presidential spokesperson Bayo Onanuga had announced that Tinubu will host Modi on Sunday.
Says combating insecurity requires a whole-of-society approach
NSA hands over 58 rescued kidnap victims to Kaduna govt
The Chief of Defence Staff (CDS), General Christopher Musa, has accused unnamed individuals of attempting to sabotage the government’s efforts to address insecurity in the country.
Speaking yesterday when he handed over 58 rescued kidnap victims to the National Security Adviser (NSA), Mallam Nuhu Ribadu, for a formal handover to the Kaduna State Government, Musa stated combating insecurity would require a whole-of-the society approach.
Ribadu yesterday handed over the 58 kidnapped victims who were rescued following a joint operation led by the General Officer Commanding (GOC) of 1 Division, Kaduna, Major General MLD Saraso, in the Birnin Gwari area of Kaduna State to the state government.
The victims were first handed over to Ribadu by the CDS, Musa.
The NSA subsequently handed over the rescued victims comprising young men, women and children to the Chief of Staff, Kaduna State government, Alhaji Sani Liman Kila who represented Governor Uba Sani at the handover ceremony.
Speaking at the handover, Musa said: “It’s a joint effort. We’re able to do that through non-kinetic means of getting across. No penny was paid for these individuals.
“I want Nigerians to understand that if we do not come together to work, it will make it extremely difficult for us to succeed. Success depends on all of us working together. It’s a whole-of-society approach.”
“You can see from these people — the women, the children, both girls and boys and even the little ones. The question is: why would anyone kidnap such vulnerable individuals? These are people barely surviving.”
He said the kidnappings, particularly of farmers in their farms, “is to tell you that there are individuals that on their own, are trying to make it impossible for the government to succeed.
“They are doing everything possible to sabotage the efforts of the government. That will not happen”.
He continued, “Today is Saturday, the 16th of November, 2024. Part of the operations, as we have always said, is we are doing the kinetic and the non-kinetic. The kinetic being carried out by the military.
“The non-kinetic is a combined effort by all. And we have told you, for us to succeed, we need all Nigerians to take ownership of this operation, and that is what is happening. What we are seeing out of this number is the success of the collaboration right from the top, from the presidency, from the Office of the National Security Advisor, Ministry of Defence to the Defence Headquarters – all agencies working together, including Kaduna State.
“The governor has been very, very supportive and very helpful. It is this collaborative effort that has made it possible for us to be able to rescue these individuals. I know the question is how were they rescued?
“It’s a joint effort. We were able to do that through non-kinetic means of getting across. No penny was paid for these individuals.
“This is what has made us achieve this success. You can see from the people, the women, the children, both girls and boys, and the little one.
“The question you want to ask is why would somebody kidnap these kinds of people? If you see them, they are barely just providing.
“And that is to tell you that there are individuals that on their own are trying to make it impossible for the government to succeed. They are doing everything possible to sabotage the efforts of the government. That will not happen.”
“I urge Nigerians to understand that we can only succeed by working together. Combating insecurity requires a whole-of-society approach.”
Also speaking, the National Coordinator of the National Counter-Terrorism Centre, Major General Adamu Laka, revealed that preliminary investigations indicated the victims were kidnapped by suspected armed bandits under the command of a notorious leader known as JANBROS.
He explained, “During the kidnapping, the victims were forced to trek hundreds of kilometres to the thick forest of Birnin Gwari.
“The government provided them with all necessary support for their stabilisation, including rehabilitation and medical check-ups. Six victims were admitted to hospital but have since recovered and joined the others for the handover to their respective families.”
The Chief of Staff to the Kaduna State Governor, Sani Limankila, expressed gratitude to the security agencies.
More...
Indications of another dirty political battle for the presidential ticket of the Peoples Democratic Party (PDP) in 2027 emerged at the weekend as a two-time Director of Youth Mobilisation in the Atiku Abubakar Presidential Campaign in 2019 and 2023, Hon. Dimeji Fabiyi, has said that age cannot stop the former vice president from contesting the 2027 presidential election.
Fabiyi, a known associate of Atiku, also described the remarks by Governor Seyi Makinde of Oyo State on the criteria for presidential candidates as portraying the governor as a poor student of history.
Governor Makinde had insinuated that age was a limiting factor for presidential hopefuls in the party.
Though Atiku’s name was not mentioned by Makinde, Atiku, who is still nursing presidential ambition in the next general election, will be 81 years old by 2027.
But Fabiyi, who is a leader of the PDP in Ogun State and pioneer financial officer of the PDP, in his response to Makinde, admonished the Oyo State governor “to take a lesson from the just concluded presidential election in the United States where the President-elect, Mr. Donald Trump, won overwhelmingly against a much younger opponent, Kamala Harris.’’
He stressed further: “Politics is a marketplace of ideas. It is a place where experience and age are undeniable assets. President Trump is Atiku’s contemporary in age.
‘’But it is clear by the convincing win he secured for the Republicans that the electorate in the United States acknowledges more leadership assets in him than his main opponent.”
Fabiyi also noted that ‘’Atiku is of sound mind and body, with the intellectual firmament that measures far ahead of Makinde.”
In a press statement he personally signed, Fabiyi noted that while Atiku may be older than Makinde, he has the experience and a cosmopolitan ability to solve problems.
He said: “As a matter of fact, I challenge Seyi Makinde to an intellectual contest with Atiku, and we shall see how his arrogance and presumed youthfulness will be humbled.
“I have known Atiku for almost three decades, and I can tell you for free that he’s an avid reader. When Seyi Makinde is in town, he should seek out how resourceful and flourishing Atiku’s library is.
“Atiku is not a connoisseur of expensive wines and doesn’t keep the company of cringe drinkers. Rather, he’s a lover of books who reads widely.
“Unless Makinde believes that leadership is determined by aerodynamic strength, he should have been more guided before making a comment that makes him look like a clown,” Fabiyi said.
“It is on this note that I will admonish Governor Makinde to devote more time to reading good books and familiarise himself more with intellectuals, instead of keeping the company of alcoholics, so that when next he speaks, he won’t be mistaken for someone who prides himself for drinking 40 years old whiskey,” Fabiyi said.
Nigeria’s External Debt Projected To Hit $45.1 Billion In 2024 As FG Approves $2.2 Billion Borrowing Plan
AFOLABI
Nigeria’s external debt stock is projected to rise to $45.1bn by the end of 2024 as the Federal Government seeks additional funding to bolster the economy, according to the Debt Management Office (DMO).
The DMO revealed in its latest report that the country’s external debt increased by $780m in the second quarter of 2024, climbing from $42.12bn in March to $42.9bn in June.
In a new development, the Federal Executive Council (FEC) last Thursday approved a $2.2bn external borrowing plan to finance the Federal Government’s 2024 Appropriation Act.
The Minister of Finance, Wale Edun, announced the approval during a briefing with State House correspondents at the Aso Rock Villa in Abuja.
He disclosed that the borrowing plan included a mix of Eurobond and Sukuk offerings, valued at $1.7bn and $500m, respectively.
“These funds are expected to bolster Nigeria’s fiscal stability amid ongoing economic reforms,” Edun stated, adding that the allocation between the instruments would depend on market conditions and advice from transaction advisors.
He further noted that the borrowing plan is subject to approval by the National Assembly, emphasizing that the funds would play a key role in addressing fiscal challenges and supporting critical infrastructure projects.
“The first (memo) was to complete the borrowing programme of the FG in terms of the external borrowing with the approval of the $2.2bn financing programme made up of access to the international capital market for some combination of the Euro bond offer and the Sukuk bond offer.
“A Euro bond of about $1.7bn and Sukuk financing of another $500m the actual makeup of the financing which will be done as soon as the National Assembly has considered and seen fate to hopefully approve of the borrowing plan and the external borrowing approval is given, it will be done this year, as soon as possible after approval.
“The actual combination of instruments that will be raised will depend on what the advisors, the transaction advisors, the commercial advisers, and what they say about market conditions at the time we decide and we want to enter the market,” Edun explained.
In its report, the DMO noted that Nigeria’s external debt experienced a notable increase in its naira valuation between March 31, 2024, and June 30, 2024, due to naira devaluation.
On March 31, 2024, the total external debt was valued at $42.12bn, equivalent to ₦56.02tn, using an exchange rate of ₦1,330.26/$1.
By June 30, 2024, the external debt rose marginally to $42.90bn but surged to ₦63.07tn in naira terms due to a higher exchange rate of ₦1,470.19/$1.
This represents a 12.59 per cent increase in the naira valuation of external debt within the period, largely driven by the naira’s depreciation.
While the dollar-denominated debt grew by just 1.87 per cent, the significant devaluation amplified the burden of external debt in local currency terms, further emphasising the exchange rate’s critical role in Nigeria’s debt sustainability.
Justifying the borrowing, Edun said the external financing initiative aligned with the administration’s broader economic recovery plan, which focused on stabilising macroeconomic conditions, adjusting market pricing for foreign exchange and petroleum products, and supporting local production.
He added that, earlier in the year, Nigeria’s successful domestic issuance of dollar bonds highlighted the growing resilience and sophistication of the country’s financial market, attracting both local and international investors who showcased confidence in the Federal Government’s economic reform agenda.
Ondo State Governor and the candidate of the All Progressives Congress, Lucky Ayedatiwa, is so far leading in 15 local government areas as the Independent National Electoral Commission announced the results of Saturday’s governorship election.
The State Returning Officer for the election, Prof. Olayemi Akinwumi, who is also the Vice Chancellor of the Federal University, Lokoja, Kogi State, formally opened the state collation exercise around 12:10 a.m. on Sunday
In the results of the 15 local government areas declared so far, Ayedatiwa won in all, including Idanre Local Government, where Peoples Democratic Party’s governorship running mate, Mr. Festus Akingbaso, hails from.
In Ifedore LG, APC got 14,157 to defeat PDP which polled 5,897 votes.
In Ondo East LG, APC got 8,163, defeating PDP that garnered 2,843 votes.
In IleOluji/OkeIgbo LG, APC, 16,600, PDP, 4 442, in Idanre LG, APC, 9,114, PDP, 8,940.
However, in Idanre Local Government Area, a PDP agent alleged that there was no voting in Ofosun Oniseri.
He also alleged a case of ballot snatching at Alade.
He said votes from the ward should be expunged from the LG’s votes.
In Irele Local Government, APC got 17,117 while PDP polled 6 601. In Akoko South West, APC got 29,700 to defeat PDP which garnered 5,517.
The result from Owo Local Government Area indicated that APC polled 31,914 to defeat PDP which garnered 4,740.
In Ondo West LG, APC polled 20,755, while PDP got 6,387 votes.
In Akoko South East LG, APC polled 12140, while PDP got 2692 votes.
In Akoko North West, APC won with 25010, as PDP got 5502.
APC also won Ose LG with a total of 16555, while PDP got 4472. In Akure South LGA, APC polled 32969 votes against PDP’s 17926.
In Akoko North East, APC won with 25657 votes against the PDP’s 5072.
Akinwumi, after the results of the 15th LG, said the commission would go on reccess to resume by 12noon when results of the last three local government areas, Ilaje, Ese Odo and Odigbo, would be released.
See the breakdown of the LGs announced so far:
1. Ifedore LGA:
APC: 14157
PDP: 5897
SDP: 21
2. Ondo East LGA:
APC: 8163
PDP: 2843
SDP: 15
3. IleOluji/OkeIgbo LGA:
APC: 16600
PDP: 4442
SDP: 08
4. Idanre LGA:
APC: 9114
PDP: 8940
LP: 24
APGA: 25
5. Irele LGA
APC: 17117
PDP: 6601
LP:15
APGA: 30
6. Akoko South West LGA
APC: 29700
ADP: 87
PDP: 5517
APGA:23
SDP: 11
7: Owo LGA:
APC: 31914
ADP:140
PDP: 4740
AAC: 16
APGA: 36
LP: 42
8: Ose LGA
AA: 03
AAC:08
APGA:19
ADC:141
APC:16555
LP:06
PDP: 4472
9: Akure South LGA:
AA: 08
AAC: 58
APGA: 95
ADC: 630
APC: 32969
PDP: 17926
LP: 238
SDP: 138
ZLP: 252
10: Akoko North East:
AA: 03
AAC: 19
APGA: 36
APC:25657
LP: 14
PDP: 5072
SDP:03
11. Ondo West LGA
A: 31
AA: 09
AAC: 30
ADC: 415
ADP: 143
APC: 20755
LP: 181
PDP: 6387
SDP: 123
12. Akoko South East LGA
A: 02
AAC: 04
ADC: 81
ADP: 28
APC: 12140
APGA: 19
PDP: 2692
SDP: 03
13. Akoko North West LGA
A: 06
AA: 04
AAC: 14
ADC: 130
ADP: 51
APC: 25010
APGA: 21
LP: 23
PDP: 5502
SDP: 05
14. Akure North LGA
A: 9
ADC:180
APC: 14451
LP: 238
PDP: 5787
PRP: 6
SDP:46
15. Okitipupa LGA
A:5
ADC 284
APC: 26811
LP:27
PDP: 10233
PRP: 17
SDP: 18
Eighteen months after the implementation of Nigeria’s ongoing economic reforms, the International Monetary Fund (IMF) has observed that the fiscal policies introduced by the President Bola Tinubu administration are struggling to deliver meaningful results.
Catherine Patillo, IMF Deputy Director, while presenting a report at the Lagos Business School (LBS) on Friday, reported a mixed performance of economic reforms across Sub-Saharan Africa, with notable successes in countries such as Côte d’Ivoire, Ghana and Zambia.
Nigeria was conspicuously absent from the list of success stories in the region.
The report stated that sub-Saharan Africa’s average economic growth rate is projected to remain at 3.6 per cent for 2024. It noted that Nigeria’s growth rate, pegged at 3.19 per cent, falls below this average.
Patillo said that while macroeconomic imbalances have reduced in several countries, Nigeria has yet to show such progress.
She stated that more than two-thirds of countries have undertaken fiscal consolidation, stressing that while the median primary balance is expected to narrow by 0.7 percentage points alone in 2024, there are notable improvements in Cote d’Ivoire, Ghana, and Zambia, among others.
The report stated, “In contrast, Nigeria’s inflation rate, which slowed briefly in July and August, resumed its upward trend in September, rising further in October.
“At 33.8 per cent, it significantly exceeds the 21 per cent target set for 2024, with analysts predicting further increases in November and December.”
The report also observed Nigeria’s struggles with exchange rate stability, highlighting it as one of the worst-performing nations in that regard.
According to the report, other countries in the region are experiencing reduced foreign exchange pressures but Nigeria’s local currency depreciation and instability remain a concern.
On debt servicing, the report said Nigeria ranked among countries suffering the heaviest fiscal burden.
The IMF noted that rising debt service obligations are consuming substantial portions of revenue, limiting resources available for development.
It stated that in Angola, Ghana, Nigeria, and Zambia, the increase in interest payments alone absorbed a massive 15 per cent of total revenue.
The IMF grouped Nigeria among resource-intensive countries struggling with social and political challenges that hinder reform implementation.
Political unrest, public dissatisfaction, and tight financing conditions were identified as major impediments.
The report noted that resource-intensive countries continue to grow at about half the rate of the rest of the region, with oil exporters struggling the most and further noted that adjustment fatigue, public resistance, and weak communication strategies are undermining the impact of reforms in Nigeria.
The IMF recommended rethinking reform strategies, urging countries like Nigeria to adopt measures that mobilise public support for deep structural changes.
It pointed out the need for greater attention to communication and engagement strategies, reform design, compensatory measures, and rebuilding trust in public institutions.