Buhari to Nigerian youths: Engage us constructively – Newstrends
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Buhari to Nigerian youths: Engage us constructively

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… ‘We’re paying staff salaries of 100,000 MSMEs’

President Muhammadu Buhari has challenged Nigerian youths to engage his administration constructively in providing solutions to myriad problems confronting the nation.

He said he had accepted the five-point demand presented to him by the youths during their protests against police brutality, adding that after promptly granting the first request – disbanding the dreaded Special Anti-Robbery Squad, measures had been put in place to address the remaining four.

The President made these pronouncements in a nationwide broadcast on Thursday night.

He said, “As a democratic government, we listened to, and carefully evaluated the five-point demands of the protesters. And, having accepted them, we immediately scrapped SARS, and put measures in place to address the other demands of our youth.

On approving the termination of SARS, I already made it clear that it was in line with our commitment to the implementation of extensive police reforms.”

Buhari added, “I therefore call on our youths to discontinue the street protests and constructively engage government in finding solutions. Your voice has been heard loud and clear and we are responding.”

He said the administration was doing everything possible to advance the progress of the youths and enumerated some of the programmes targeted at improving their lots.

For instance, he said the government was currently “paying three months salaries of the staff of 100,000 Micro, Small and Medium Enterprises; paying for the registration of 250,000 businesses at the Corporate Affairs Commission; giving a grant of N30,000 to 100,000 artisans; and guaranteeing market for the products of traders.”

Buhari said, “Government has put in place measures and initiatives principally targeted at youths, women and the most vulnerable groups in our society. These included our broad plan to lift 100 million Nigerians out of poverty in the next 10 years; the creation of N75 billion National Youth Investment Fund to provide opportunities for the youths and the Micro, Small and Medium Enterprises (MSME) Survival Fund.”

The President, however, said that while the government was willing to accede to the demands of Nigerians, it should not be considered to be weak.

He said, “In the circumstances, I would like to appeal to protesters to note and take advantage of the various well-thought-out initiatives of this administration designed to make their lives better and more meaningful, and resist the temptation of being used by some subversive elements to cause chaos with the aim of truncating our nascent democracy.

“For you to do otherwise will amount to undermining national security and the law and order situation. Under no circumstances will this be tolerated.”

He said it was thus worrisome that after the demands were met, the protesters failed to back down.

He said: “I must warn those who have hijacked and misdirected the initial, genuine and well-intended protest of some of our youths in parts of the country, against the excesses of some members of the now disbanded Special Anti-Robbery Squad (SARS).”

He also said, “The choice to demonstrate peacefully is a fundamental right of citizens as enshrined in Section 40 of our Constitution and other enactments; but this right to protest also imposes on the demonstrators the responsibility to respect the rights of other citizens, and the necessity to operate within the law.

“As a democratic government, we listened to, and carefully evaluated the five-point demands of the protesters. And, having accepted them, we immediately scrapped SARS, and put measures in place to address the other demands of our youth.

“On approving the termination of SARS, I already made it clear that it was in line with our commitment to the implementation of extensive Police reforms.

“Sadly, the promptness with which we have acted seemed to have been misconstrued as a sign of weakness and twisted by some for their selfish unpatriotic interests.

“The result of this is clear to all observers: human lives have been lost; acts of sexual violence have been reported; two major correctional facilities were attacked and convicts freed; public and private properties completely destroyed or vandalised; the sanctity of the Palace of a Peace Maker, the Oba of Lagos has been violated. So-called protesters have invaded an International Airport and in the process disrupted the travel plans of fellow Nigerians and our visitors.”

Even as he acknowledged the concerns of Nigeria’s neighbours and the international community, he urged them to always “seek to know all the facts available before taking a position or rushing to judgment and making hasty pronouncements.”

“This government respects and will continue to respect all the democratic rights and civil liberties of the people, but it will not allow anybody or groups to disrupt the peace of our nation,” he added.

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Nigeria seeks fresh $300m W’Bank loan for health security

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Nigeria seeks fresh $300m W’Bank loan for health security

The Federal Government has engaged the World Bank for a new $300 million loan aimed at strengthening Nigeria’s health security infrastructure.

According to World Bank documents, the Nigeria Centre for Disease Control (NCDC) will implement the project, with the Federal Ministry of Finance acting as the borrower.

The initiative aims to enhance Nigeria’s capacity to prevent, detect, and respond to health emergencies.

The project is currently in the pipeline stage, with a disclosure date set for February 6, 2025.

The World Bank Board is expected to approve it on July 30, 2025, after necessary appraisals and assessments. Implementation will commence in the 2026 fiscal year.

The Nigeria Health Security Programme (HeSP) will focus on expanding molecular laboratory capacity, upgrading primary healthcare centres, establishing emergency operation centres and deploying mobile laboratories.

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Others are constructing warehouses for medical supplies, installing water, sanitation, and hygiene facilities and integrating solar energy systems to power health infrastructure.

The initiative is part of efforts to strengthen Nigeria’s public health infrastructure, following lessons from past outbreaks, including COVID-19.

This latest loan request comes as Nigeria continues to rely heavily on external financing. Under President Bola Tinubu’s administration, the Federal Government has secured $6.95 billion in World Bank loans over the past 18 months.

Data from the Debt Management Office shows that Nigeria owes the World Bank $17.32 billion, with the International Development Association (IDA) accounting for $16.84 billion.

In the first nine months of 2024, Nigeria spent $3.58 billion servicing its foreign debt, a 39.77% increase from $2.56 billion during the same period in 2023.

Nigeria seeks fresh $300m W’Bank loan for health security

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CBN to sanction banks limiting ATM withdrawal below N20,000

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CBN Governor, Olayemi Cardoso

CBN to sanction banks limiting ATM withdrawal below N20,000

The Central Bank of Nigeria, CBN, has threatened to sanction banks that limit Automated Teller Machines (ATM) withdrawal to less than N20,000 per transaction.

The apex bank disclosed this in a document addressing concerns over the reviewed fees on ATM withdrawal.

Recall that CBN on Tuesday increased ATM transaction withdrawal fees, saying, from March 1st, bank customers will pay N100 charge for every N20,000 withdrawal from the on-site  ATM of other  banks.

The CBN in a circular to banks and other financial institutions, the CBN said,  “ATM Transaction Fees On-Us for customers withdrawing at the ATM of the customer’s financial institution in Nigeria with No charge.

“Not-On-Us for withdrawal from another institution’s ATM in Nigeria; On-site ATMs will attract a charge of N100 per N20,000 withdrawal.

“Off-site ATMs will attract  a charge of N100 plus a surcharge of not more than N500 per N20,000 withdrawal.

“The surcharge, which is an income of the ATM deployer/acquirer, shall be disclosed at the point of withdrawal to the consumer.

“International Withdrawals (per transaction) whether debit/credit card: Cost Recovery – exact charge by international acquirer.

“Furthermore, the three free monthly withdrawals allowed for Remote-On-Us (other bank’s customers/Not-On-Us consumers) in Nigeria under Section 10.6.2 of the Guide shall no longer apply.”

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However, following widespread concerns over the limit on ATM cash withdrawal by banks, the apex and yesterday released a list Frequently Asked Question, FAQ, to clarify implementation of the new charge.

CBN to sanction banks limiting ATM withdrawal below N20,000

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Google CEO meets Tinubu over AI skills expansion in Nigeria

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Google CEO meets Tinubu over AI skills expansion in Nigeria

The CEO of Google, Sundar Pichai on Wednesday met with Nigeria’s President Bola Tinubu in Paris, where both leaders discussed a partnership to expand Artificial Intelligence (AI) skills in Nigeria.

Pichai first shared a picture of the meeting with Tinubu on X, noting that the discussions centered on the immense potential of AI in Nigeria.

“It was great meeting with President Tinubu @officialABAT. 

“We talked about the immense potential of AI in Nigeria, and how we can partner to expand AI skills, enable innovation, and support Nigeria’s growing tech ecosystem,” Pichai posted.  

Commitment to AI in Nigeria 

Responding to the post, the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, who was also at the meeting, described the discussions as “extremely productive”.

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According to him, the meeting demonstrated the Nigerian government’s commitment to AI and Google’s ongoing support towards developing AI skills and innovation in critical sectors in Nigeria.

Last year, Google announced two separate AI initiatives in Nigeria in partnership with the Ministry of Communications, Innovation, and Digital Economy, both aimed at empowering Nigerians with AI skills.

In the first initiative, the National Centre for Artificial Intelligence and Robotics (NCAIR),  a N100 million AI Fund backed by Google to support Nigerian startups that are leveraging AI to develop innovative solutions.

The second initiative was a N2.8 billion support from Google to accelerate AI talent development across Nigeria.

According to the Ministry, the support, which was provided as a grant from Google.org to Data Science Nigeria, would bolster its ongoing AI-driven initiatives to upskill youth and under- and unemployed Nigerians, with a focus on AI skill development and education.

Google CEO meets Tinubu over AI skills expansion in Nigeria

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