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IMF praises Nigeria’s economic reforms as Tinubu promises to reduce hardship
IMF praises Nigeria’s economic reforms as Tinubu promises to reduce hardship
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has praised the economic reforms implemented by President Bola Ahmed Tinubu’s administration. She made the remarks during a courtesy meeting with the President on the sidelines of the G20 Leaders’ Summit in Brazil.
Georgieva highlighted the IMF’s commitment to supporting Nigeria’s economic recovery, particularly through the federal government’s social investment programs aimed at alleviating the effects of reforms on vulnerable populations.
She affirmed the IMF’s readiness to provide technical assistance for Nigeria’s budgeting process to optimize outcomes from financial resources and loans.
The IMF chief acknowledged the global economic shocks caused by the pandemic and underscored the importance of building resilient institutions in developing countries.
She emphasized the need for nations like Nigeria to benefit from IMF programs that align with their priorities. Georgieva also advocated strengthening regional economic ties and assured that the IMF is prepared to support this process.
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President Tinubu acknowledged the challenges Nigerians face due to the reforms, including weakened purchasing power, but reiterated his administration’s commitment to mitigating these effects through targeted social safety nets.
“We have started seeing positive results from our reforms, and Nigerians now understand their necessity. However, we must reduce the hardships caused by their implementation,” Tinubu stated.
The President also stressed the importance of education as a pathway out of poverty, highlighting efforts to ensure children remain in school.
“We are designing incentives to keep children in school because education is the key to ending hunger and poverty. We need your support to achieve this,” Tinubu said.
In addition to addressing social challenges, Tinubu noted the government’s focus on tax reforms and substantial investments in infrastructure to drive sustainable growth.
The President congratulated Georgieva on her re-election as IMF Managing Director and thanked her for the Fund’s support in advancing Nigeria’s economic agenda.
IMF praises Nigeria’s economic reforms as Tinubu promises to reduce hardship
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Suspected IPOB members kill two soldiers in Imo
Suspected IPOB members kill two soldiers in Imo
The Nigerian Army has confirmed the death of two soldiers and the theft of their weapons by operatives of the Eastern Security Network (ESN), the militant arm of the Indigenous People of Biafra (IPOB).
IPOB is a separatist group advocating for the creation of the Republic of Biafra, citing longstanding grievances over the marginalization of Nigeria’s South-East region since the Biafra-Nigeria civil war.
In a statement released on Saturday, the Nigerian Army explained that the incident occurred in Osina, Ideator North Local Government Area of Imo State, when troops from the 34 Artillery Brigade, returning from a routine patrol, responded to an emergency call about an attack on Osina Community by IPOB/ESN forces.
The statement revealed that upon arrival, the troops engaged the “terrorists” with overwhelming firepower, resulting in casualties among the attackers. However, the Army did not provide specific numbers, only noting that the “dissidents” eventually withdrew in disarray.
“Unfortunately, two security agents had been killed in action and one other missing in action, with their weapons—a AK-47 rifle and a tear gas launcher—being seized by the terrorists,” the statement said.
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The Army confirmed that the bodies of the fallen soldiers had been recovered, and the troops pursued the fleeing militants.
“Contact was again made with the criminal IPOB/ESN elements at Nkwachi Community, and in the firefight that ensued, one of the dissidents was neutralized while others, unable to withstand the troop’s firepower, retreated into the nearby forest. One AK-47 rifle with a fully loaded magazine was recovered, ” the statement said, adding that the troops continued their pursuit into Umalouma forest, where another intense exchange of fire took place.
“The dissidents eventually abandoned their weapons due to the troops’ superior firepower and scattered into the dense forest with severe gunshot wounds. An additional four AK-47 rifles, one Fabrique Nationale rifle, and two magazines were recovered,” the statement added.
The Army assured the public that operations would continue, with efforts to track down and eliminate the remaining criminals. “Further exploitation is ongoing as troops continue to track down the injured terrorists and flush them out of their hideouts and treatment locations,” the statement stated. “We urge all IPOB/ESN elements and other criminals hiding in the bushes to surrender to the nearest troops or face defeat, as the Brigade will ensure that the people of Imo celebrate the Yuletide season in peace, free from fear or intimidation.”
The Nigerian Army also called on the people of Imo State to continue providing timely intelligence to assist in the fight against criminal elements and help rid the state of lawlessness.
Suspected IPOB members kill two soldiers in Imo
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13 passengers burnt to death in Ondo auto crash
13 passengers burnt to death in Ondo auto crash
The Federal Road Safety Corps, Ondo State Sector Command, says no fewer than 13 people were burnt to death along Ikare-Akoko/ Owo Road on Saturday in the state.
Dr Samuel Ibitoye, FRSC State Sector Commander made this known in a statement made available to the News Agency of Nigeria on Saturday in Akure.
“FRSC regrets to inform the public about a road traffic crash that occurred today 28 December, 2024 at Abule Panu before Ose Bridge, on Owo-Ikare highway, Ondo State.
“The fatal crash which occurred at about 10:14 AM claimed 13 lives of commuters in two buses.
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“A total of 14 people were involved, out of which 13 were burnt beyond recognition, while only one was rescued alive with serious injuries.
“Eyewitness account indicates that the bus coming from Ikare axis had a tyre burst which led to loss of control.
“This was resultant in a head-on collision with the bus loaded with fabric coming from Owo axis.
“Immediately after the collision, the two buses went up in flames. The men of FRSC, Police and Fire Service were swiftly at the crash scene for rescue,” he said.
The FRSC boss said that the injured victim was taken to Federal Medical Centre, Owo, while the deceased were deposited at the morgue of the same hospital.
He, therefore, advised drivers to exercise patience on the roads and passionately maintain their vehicles.
“Passengers are also encouraged to speak out against dangerous driving because road safety is a concern of all,” Ibitoye said.
13 passengers burnt to death in Ondo auto crash
NAN
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NDDC empowers Niger Delta young entrepreneurs with N30bn
NDDC empowers Niger Delta young entrepreneurs with N30bn
The Niger Delta Development Commission (NDDC) has pledged to galvanise the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) by releasing N30 billion counterpart fund for the development of young entrepreneurs.
The NDDC Managing Director, Dr Samuel Ogbuku who disclosed this in Port Harcourt, restated the Commission’s commitment to empowering the people of the region through economic programmes.
He highlighted the NDCCITMA’s role in training youths, supporting SMEs, and designing industry-friendly skill development programmes.
He said, “We are providing N30 billion to fund projects and support businesses to ensure the sustainability of our youth development initiatives.
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“We will release the matching funds so the entrepreneurs can access them to boost their businesses. In our 2024 budget, we have provision for N30 billion which we are to use as matching funds for the chamber of commerce. We are working towards releasing this fund so that the chamber of commerce can start work in earnest.
“The Niger Delta Chamber of Commerce will strengthen young entrepreneurs in the region. It is no longer acceptable for our youths to be contented with receiving stipends while at home doing nothing.
Ogbuku remarked that the Commission was collaborating with the Bank of Industry, BOI, to ensure the success of NDDC’s youth development programmes.
“The current NDDC Board and Management choose to look at sustainable options in designing youth programmes. In the past, we did a lot in supporting entrepreneurs in the Niger Delta but these activities were not properly documented and backed with verifiable data.
“Our new strategy is to support genuine entrepreneurs rather than people who are just portfolio entrepreneurs because we know that the government alone cannot employ everybody. Many university graduates are coming out, and the government cannot employ all of them. However, we can empower them by creating an environment where they can engage other persons to expand their businesses.”
NDDC empowers Niger Delta young entrepreneurs with N30bn
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