Business

400,000 youths benefit from N-Power, says NASS C’ttee

Published

3 years ago

July 2, 2021

The House of Representatives Committee on Poverty Alleviation and Small and Medium Enterprises Development Agency (SMEDAN) says 400,000 youths have benefited from the N-Power Scheme.

Rep. Balarabe Salame, Chairman of the committee, in an interview with the News Agency of Nigeria (NAN) on Friday in Abuja, said that the success was recorded during his tenure as the committee’s chairman.

NAN reports that the N-Power is a scheme set up by President Muhammadu Buhari in 2016 to address the issues of youth unemployment as well as help increase social development.

The lawmaker, representing Illela/Gwadabawa Constituency of Sokoto State, said the N-Power and SMEDAN had effectively alleviated poverty in the country.

”There are so many committees, one can make millions from, but I asked for a committee that will touch the lives of the masses and I was given the Poverty Alleviation Committee.

“Prior to now, no accountability was made for funds the government allocates for poverty alleviation, but since I assumed as chairman of the committee, 400,000 youths were given N-Power.

“And in my state, in each constituency, the women benefit from women’s grant.

“No fewer than 1,000 women have been given N20,000 each to start up a small business, while SMEDAN has also empowered youths and small scale businesses,” he said.

Meanwhile, the All Progressives Congress (APC) Stakeholders Forum, also paid the chairman a courtesy visit and presented him with an award of ‘Legislature of the Year’.

Salame, a three-time member of the house, said he believed he had served his constituency favourably during his tenure in the House of Representatives and as such, would not be seeking a re-election.

He appealed to other lawmakers to empower members of their constituency adequately and impact positively on their lives to reduce crime and insecurity.

“I thank Almighty Allah for giving me the help and people like you that always advice, support me and appreciate what I have been doing.

“I believe I have achieved what I intended to achieve and will not contest in the next elections for a seat in the House of Representatives,” he said.

On his part, Rep. Abdullahi Sa’ad, Deputy Chairman, Public Accounts Committee, commended Salame’s commitment to human capacity building.

He pointed out that there had been an improvement in the collating of inputs of lawmakers and conveying same to the Executive for integration in the programmes of the government.

Sa’ad also praised the synergy between the Executive and the 9th Assembly, noting that the absence of friction between both arms of government enhanced their operations.

“I thank God we have this opportunity to appreciate Salame and say thank you and may God continue to give you the wisdom to forge better partnerships with the Executive and the Legislature.

“This administration is arguably the best in terms of social intervention in the history of this country; the amount of social intervention we have seen.

“Both money spent and the people who have benefited, are unprecedented in the history of Nigeria.

“There are several bills to create a permanent body responsible for social intervention programmes in Nigeria and I believe the committee under him, will be the ones to scrutinise the bill and make recommendations for further legislative actions.

“I congratulate you on the award and believe that as it is not the first, it will also not be the last.

“We continue to pray for God’s guidance, as you continue to touch positively on the lives of your constituents and other Nigerians,” he said.

A member of the APC Stakeholders Forum, Mr Abdullahi Hassan, said that the solutions to the issue of insecurity in the country were good leadership, job creation and adequate engagement of the youths.

“We found out that unemployment is one of the major factors that has contributed to the insecurity we are facing today.

“Be it IPOB, Boko Haram or Banditry, any kind of crime and criminality going on today in Nigeria, the genesis is unemployment.

“Fortunately, Rep. Salame has within the last four years carried out programmes that have changed the living standard of people in his constituency economically.

“Because of that, the leaders of the APC Stakeholders Forum at the national headquarters of the party decided to pay you a visit and appreciate your initiative for positively impacting on the lives of your people,” Hassan said.

Highlight of the visit was the presentation of the award by the Chairman of the APC Stakeholders Forum, Faruq Hassan, to Salame.

Business

Tron Founder joins Trump-backed crypto project, invests $30m

Published

2 hours ago

November 27, 2024

Trends Admin

Justin Sun

Tron Founder joins Trump-backed crypto project, invests $30m

Justin Sun, the founder of the Tron Blockchain has joined the World Liberty Financial project as an advisor after investing $30 million into the project.

The World Liberty Financial project is backed by the Donald Trump family and aims to become a leading crypto project in the global crypto space.

Justin Sun joined the project as an advisor after purchasing $30 million worth of WLFI tokens making him the largest shareholder in the project.

The development was announced via the official X page of the World Liberty Financial project welcoming the Crypto founder to the project.

“Exciting Announcement!

We’re honored to welcome @justinsuntron as an advisor to World Liberty Financial (WLFI)! Justin is the founder of @TRONDAO an advisor to @HTX_Global, and a supporter of @BitTorrent

. A graduate of the University of Pennsylvania, he recently won Sotheby’s auction for the iconic banana artwork. 

#TRON is among the world’s top 10 cryptocurrencies and one of the largest public blockchains. Justin’s insights and experience will be instrumental as we continue to innovate and grow. Welcome to the team, Justin!” WLFI tweeted

Tron Founder joins Trump-backed crypto project, invests $30m

Auto

Toyota By CFAO showcases latest Land Cruiser Prado, others at P’Harcourt Open Day

Published

4 hours ago

November 27, 2024

Trends Admin

Toyota By CFAO showcases latest Land Cruiser Prado, others at P’Harcourt Open Day

Toyota By CFAO, the authorized distributor of Toyota vehicles in Nigeria, has commenced a three-day special display of the latest new Toyota models from the company at an Open Day organised in Port Harcourt, Rivers State, for residents of the city and its surrounding areas.

The Toyota By CFAO Open Day holds from Tuesday, November 26 to Thursday, November 28, 2024, according to a statement by the company.

The event running from 9am to 5pm each day is taking place at the auto company’s showroom located at 184B, Trans-Amadi Industrial Layout, Port Harcourt.

It discloses that the exciting event will feature the highly anticipated 2024 Toyota Land Cruiser Prado, one of Toyota’s flagship models, alongside a range of other exceptional vehicles tailored for the Nigerian market.

This, it notes, is an exclusive opportunity for attendees to explore the latest in automotive excellence, discover new vehicle options, and benefit from Toyota By CFAO’s End of Year Bonanza.

General Manager of CFAO Mobility Port Harcourt, Julius Fasetire, encourages all residents to “come witness history in motion as we proudly unveil the All-New 2024 Toyota Land Cruiser Prado.

“Be among the first to explore this remarkable masterpiece and discover our full range of Toyota vehicles. Don’t miss out on the chance to experience automotive excellence and enjoy a free diagnostic check for your Toyota vehicle!”

The 2024 Toyota Land Cruiser Prado has already generated excitement across the country, following its recent unveilings in Lagos and Abuja.

The product is quickly becoming one of the most sought-after sports utility vehicles in Nigeria, appealing to both corporate and individual buyers.

With over 11.3 million units sold globally in more than 170 countries, the Land Cruiser Prado is renowned for its rugged off-road capabilities and comfort for everyday driving.

The firm says this year’s model comes in two distinctive editions – the Limited Edition (First Edition) and the Adventure Edition – both equipped with a 2.4L turbocharged gasoline engine and an 8-speed automatic transmission, ensuring superior performance both on and off the road.

Toyota By CFAO also says it ensures that genuine parts and a comprehensive 3-year/100,000 kilometre warranty are available for all customers.

In addition to the Land Cruiser Prado, the event will showcase a variety of other popular Toyota models including the Belta, Rumion, RAV4, Camry, and Hiace.

The Open Day, it stresses, promises to be a must-attend event for anyone interested in exploring the world of Toyota vehicles, from luxury to practicality, and experiencing firsthand the future of automotive technology.

The company says more details about the rich offering of Toyota in the Nigeria market can be obtained from https://www.toyotabycfao.ng/.

Business

Nigeria’s foreign reserves in marginal increase, now $40.88bn

Published

7 hours ago

November 27, 2024

Trends Admin

Nigeria’s foreign reserves in marginal increase, now $40.88bn

Nigeria’s foreign reserves rose to $40.88 billion as of November 21, the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said.

Cardoso disclosed this on Tuesday at a press conference after the Monetary Policy Committee’s 298th meeting in Abuja.

He said the external reserves grew from $40.06 billion at the end of October to $40.88 billion in November.

The amount represents an increase of $82 million or 2.05 per cent in 21 days.

“The external reserves rose marginally to 40.88 billion as of 21 November 2024, from 40.06 billion at the end of October 2024, available to finance 17 months of imports,” he said.

However, from the apex bank’s website, the increase in Nigeria’s foreign reserves showed $40.27 billion on November 22.

Cardoso also said, “The process of getting us where we are in terms of reserves has been a long one”.

“It is a clear indication that the policies we have put in place are certainly yielding fruits,” he added.

“However, and it’s very important to make a distinction here and to reiterate the fact that reserves are there for a multiplicity of different purposes, not least of which is to create buffers in the event of unanticipated shocks.

“So they are not there to simply whittle away. They are there to be used to more or less defend yourself where that becomes necessary

“And when we talk about shocks that are not anticipated, I think we can see how the global economies are.”

Cardoso also said the bank would continue to intensify efforts to stabilise the currency and prices.

The CBN governor said, “The currency has been stable compared to what it was in June”.

But he said for the value of the country’s currency to be stable, there must be increased exports and diversification of the economy.

Cardoso said diaspora remittance had increased due to policies put in place.

He commended those in the diaspora for helping the country accomplish over $600 million in remittances.