metro
Messi, Ronaldo’s earnings higher than Osun, Nasarawa budgets
The budgets of Osun, Nasarawa, Enugu and seven other states in the country are less than the annual earnings of 10 top athletes in Europe and America put together, Sunday PUNCH has gathered.
The combined yearly salaries of athletes such as Lionel Messi, Cristiano Ronaldo and basketball star, Lebron James, are higher than the budgets of some states in Nigeria put together.
According to reports published on sportreview.com, the total amount earned per year by the three athletes from salaries, sponsorships and endorsements is N148,992,480,000.
Using the Central Bank of Nigeria exchange rate of N424.48 to $1, Messi earns N55,182,400,000 ($130m); Ronaldo gets N48,815,200,000 ($115m), while James takes home N51,362,080,000 ($121.2m).
Whereas the combined 2022 budgets of Nasarawa, Ekiti and Abia states is N356,750,000,000. In December 2021, the Nasarawa State Governor, Abdullahi Sule, signed the N110bn 2022 budget into law.
In the same vein, the Ekiti State Governor, Kayode Fayemi, signed the 2022 budget of N100.75bn into law with a promise to complete all ongoing legacy projects and consolidate other achievements recorded in the past years.
On his part, the Abia State Governor, Okezie Ikpeazu, signed into law a total of N147.28bn as the state’s budget for 2022.
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Speaking in separate interviews with Sunday PUNCH, experts attribute the low budgets by states to a weak national economy.
A professor of Economics at the University of Uyo, Akpakpan Edet, said states should stimulate the economy by cutting down the cost of governance and creating an enabling environment for investors to thrive, thereby creating quality jobs, which would enable the citizens to pay taxes.
According to him, all available resources should be concentrated on the economy to achieve desired development in the states.
He said, “What it means is that the economy of the states is very weak. They are not able to generate substantial internal revenue; when the economy is weak, they don’t have many people in employment and those who are able to find anything to do at all will be doing menial jobs that don’t pay them substantial income, so they end up being unable to pay taxes; that’s the problem.
Speaking in separate interviews with Sunday PUNCH, experts attribute the low budgets by states to a weak national economy.
A professor of Economics at the University of Uyo, Akpakpan Edet, said states should stimulate the economy by cutting down the cost of governance and creating an enabling environment for investors to thrive, thereby creating quality jobs, which would enable the citizens to pay taxes.
According to him, all available resources should be concentrated on the economy to achieve desired development in the states.
He said, “What it means is that the economy of the states is very weak. They are not able to generate substantial internal revenue; when the economy is weak, they don’t have many people in employment and those who are able to find anything to do at all will be doing menial jobs that don’t pay them substantial income, so they end up being unable to pay taxes; that’s the problem.
Edet added, “That way, you will be increasing the number of human beings who can pay tax and then you collect your tax and make sure that every citizen pays tax. And this is one of the problems; the states don’t have opportunities for taxpayers and they are inefficient in taxing.”
“Then, you can add factory overtime; if he’s a smart governor, he can attract a company that is producing some of the things that are being sold in your market and tell that company to put the factory in your state, create a conducive environment and expand your economy. Sensible people should run the economies of society and not greedy people who don’t have any business in government offices.
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“They all run to Abuja to share oil money and when they get it, they run back home and spend it on themselves and their cronies instead of putting the money in productive activities, that’s why you have so many people unemployed.”
A professor of African Economic History and Development at the Federal University of Kashere, Noah Attah, said, “The fact is that we are operating an economy that does not produce, but consumes. The analogy of the athletes is straightforward, what they are earning is the by-product of the production that has already taken place, and they are offering services for those who want to enjoy pleasure; if you go to our stadiums today, except maybe Nigeria is playing against another national team, you are not likely to find people in the stadiums, because somebody who doesn’t know where the next meal will come from will not think of going to the stadium.
“Our states are not producing; they go camping and they wait for the meal ticket from Abuja every month, where they share the money. And then when they share it with those in power, you know what they do with it.
“To save the situation, first you have to put the horse before the cart. When we are talking of leadership, they are the type of people who go there for the purpose of primitive accumulation in the sense that they go there to enrich themselves. Therefore, we need people who will not go to the government house to steal. When you look at the emergence of the US, Britain and Japan, you will also discover that those who hold the means of production are the ones who found themselves in the position of governance and not dropouts, not people who have no jobs, not people who don’t have a record of their productive achievements.
“Those in government, most of them are people who are involved in buying and selling; they buy contracts and they sell contracts. They do not produce a pin. Even toilet roll, they cannot produce. Such people, what will they do in the National Assembly to turn around governance?”
metro
NURTW scribe felicitates Nigerians on Xmas, urges caution
NURTW scribe felicitates Nigerians on Xmas, urges caution
The General Secretary of the National Union of Road Transport Workers (NURTW), Comrade Kayode Agbeyangi, has enjoined Nigerians to imbibe the virtues of peace, love and compassion as taught through the birth of Jesus Christ.
He stated this in his Christmas and end of the year goodwill message to felicitate members of the union and Nigerians in general.
Agbeyangi urged Nigerians to use the festive season to reflect on the values of love, compassion, and sacrifice that Jesus Christ embodied.
“This period is not for merry making alone; we should also spare time to reflect on the birth and life of Jesus Christ.
“His birth teaches humility, love compassion and sacrifice. As Nigerians, we must show love to our fellow county men. We must love our country. As Nigerians, we must be ready to make sacrifices for the nation.”
The NURTW scribe also used the opportunity to appeal to members of the union and other road users to always exercise caution and adhere to all safety protocols while travelling during the festive season.
“As we celebrate, let us not forget the importance of road safety. The roads can be treacherous, especially during the festive season.
“I urge our members and all road users to drive safely, avoid overspending, overtaking at dangerous bends and overloading, and be courteous to other road users,” he stated.
He also advised drivers that all their vehicle papers should be up to date to avoid embarrassment from law enforcement officers on the highways.
Comrade Agbeyangi prayed for a peaceful and joyous celebration, and wished members of the union and Nigerians, a happy prosperous New Year.
metro
Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam
Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam
The Chief Imam of Lekki Central Mosque in Lagos, Ridwanullah Jamiu, has said the “Jesus Christ is Not God” banner placed on the fence of the mosque was not intended to provoke anybody. The banner became a source of controversy after a picture of it was shared on social media, with many calling it an…
The Chief Imam of Lekki Central Mosque in Lagos, Ridwanullah Jamiu, has said the “Jesus Christ is Not God” banner placed on the fence of the mosque was not intended to provoke anybody.
The banner became a source of controversy after a picture of it was shared on social media, with many calling it an attack on the Christian faith.
Addressing his congregation, Jamiu said the banner was displayed to educate Muslims.
He said, “When you come to Lekki Central Mosque, at least you should learn something. You pass by the banners outside, you look here and there, you learn something because Islam treasures knowledge.”
The Imam said all the banners displayed outside the mosque contain Quran and Hadith verses.
He said after a photo of one of the banners went viral, he “received calls from the government, local government, and area command appealing to us to please remove the banners because of the festive period.”
He said the display of the banners was not to provoke anyone, noting that there’s a difference between propagation of Islam and provocation.
“It was not placed there just yesterday. It has been there for about two months or thereabout. We are peace loving people, we don’t provoke anyone. We only propagate our name,” he said.
Jamiu further stated that nobody can monopolise Jesus because Muslims also have what they believe about him as backed by the Quran which calls him Isah.
“If you don’t believe in Jesus, you are not a Muslim. We are Muslims and anything we believe must be in consonant with the Quran and the Quran says Jesus Christ is not God, he’s a messenger of God. We quoted this verse in the banner. Is there anything wrong if we paste what we believe on our territory to educate our congregation? It’s a verse of the Quran. This is freedom of religion, freedom of speech,” he said.
On the removal of the banner, Jamiu said he received multiple calls ascribing the gesture as cowardice.
“It is not cowardice. We removed it to let peace reign, to obey our government because we are peace-loving people and also because we know it’s a festive period, people may think it was actually calculated to enrage others. We are going to modify it and put it back. We are not cowards,” he said.
The banner has since been replaced with another which says “A
llah is the lord of Jesus.”
Why we displayed ‘Jesus Christ is not God’ banner at Lekki mosque -Imam
metro
CBN fines bank found hoarding cash N150m
CBN fines bank found hoarding cash N150m
The Central Bank of Nigeria (CBN) has imposed a N150 million fine on a commercial bank for failing to dispense cash through its Automated Teller Machines (ATMs).
This action follows an unannounced inspection by the apex bank, which uncovered deliberate cash hoarding and ATM manipulation by the erring bank.
Sources within the CBN revealed that the sanctioned bank was caught disabling its ATMs, thereby denying customers access to their funds while prioritizing cash disbursements to select VIP clients.
A staff member of the CBN stressed that the apex bank would not tolerate such practices.
“The Bank will not spare any Deposit Money Bank (DMB) caught in the act of hoarding cash or found favoring VIP customers over other customers,” the official stated.
To this end, the CBN has intensified spot checks on banks nationwide, exposing various illicit cash-handling practices by some unscrupulous financial institutions.
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For now, the CBN is imposing financial penalties on defaulting banks. However, according to the official, the next phase of enforcement will include publicly naming and shaming offending banks and prosecuting implicated bank officials.
“This fine is just the beginning. The CBN is determined to hold banks accountable for any actions that undermine public trust and the integrity of the banking system,” the official added.
Despite the ongoing challenges, the CBN has reiterated its commitment to promoting cashless banking in the country.
Another senior official disclosed that the apex bank’s management is intensifying efforts to encourage the use of electronic channels for transactions.
“The frustration faced by account holders is undermining our push for a cashless economy. We are doubling down on initiatives to restore public confidence in electronic banking solutions,” the official said.
CBN fines bank found hoarding cash N150m
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