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IMF raises alarm on Nigeria’s economic challenges, calls for urgent action

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International Monetary Fund (IMF)
International Monetary Fund (IMF)

IMF raises alarm on Nigeria’s economic challenges, calls for urgent action

The International Monetary Fund (IMF) on Sunday painted a stark picture of Nigeria’s economic situation, highlighting the country’s “difficult external environment” and “wide-ranging domestic challenges.”

The body in a statement, titled “IMF Executive Board Concludes Post Financing Assessment with Nigeria,” emphasized the scarcity of external financing, both from markets and official sources, further exacerbated by rising global food prices due to conflict and geopolitical tensions.

It reads, “Nigeria faces a difficult external environment and wide-ranging domestic challenges. External financing (market and official) is scarce, and global food prices have surged, reflecting the repercussions of conflict and geo-economic fragmentation.

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“Per-capita growth in Nigeria has stalled, poverty and food insecurity are high, exacerbating the cost-of-living crisis. Low reserves and very limited fiscal space constrain the authorities’ option space. Against this backdrop, the authorities’ focus on restoring macroeconomic stability and creating conditions for sustained, high and inclusive growth is appropriate.”

Despite the bleak outlook, the IMF acknowledges the Nigerian government’s focus on “restoring macroeconomic stability and creating conditions for sustained, high and inclusive growth” as the right approach.

IMF raises alarm on Nigeria’s economic challenges, calls for urgent action

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Education

25 Universities, Teaching Hospitals Get Solar Power Under REA Programme

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25 Universities, Teaching Hospitals Get Solar Power Under REA Programme

Twenty-five federal tertiary institutions have been connected to solar electricity under the Rural Electrification Agency’s (REA) Energizing Education Programme.

The REA Managing Director, Abba Aliyu, disclosed this during the commissioning of a 3MW captive solar hybrid power project at Yakubu Gowon University, Abuja.

According to Aliyu, the programme covers 22 federal universities and three affiliated teaching hospitals and has deployed more than 100MW of clean energy.

He said the initiative now benefits over 300,000 students and 50,000 academic and administrative staff.

Aliyu added that the new 3MW facility would power key university facilities, including lecture halls, laboratories, ICT systems, administrative buildings and campus lighting.

Meanwhile, Minister of Power Joseph O. Tegbe said reliable electricity was essential to supporting teaching, research, healthcare and digital services in universities.

He stressed that the long-term performance of the solar projects would be more important than their commissioning.

Vice-Chancellor of Yakubu Gowon University, Prof. Hakeem Babatunde Fawehinmi, also said dependable electricity was critical to the institution’s academic and research activities.

25 Universities, Teaching Hospitals Get Solar Power Under REA Programme

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OAU Investigates Death of Final-Year Student as Police Begin Probe

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OAU Investigates Death of Final-Year Student as Police Begin Probe
OAU Investigates Death of Final-Year Student as Police Begin Probe

Obafemi Awolowo University (OAU), Ile-Ife, Osun State, is investigating the death of a final-year student of the institution.

The student, Oluwole Oluwosegun, was studying Materials Science and Engineering at the university.

According to the university’s Public Relations Officer, Olarewaju Abiodun, the incident occurred on Tuesday afternoon at the student’s off-campus residence around the Damico area of Ooni Layout, Ile-Ife.

After receiving the report, the university’s Quick Response and Security (QRS) Team went to the location. The team also contacted the Nigeria Police, after which officers from the ‘A’ Division in Moore, Ile-Ife, joined them at the scene.

The university later took the student to its Health Centre, where a medical doctor confirmed his death.

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Police Begin Investigation

Following the incident, university authorities handed relevant information and items recovered from the scene to the police to support their investigation.

The police have since begun inquiries into the circumstances surrounding the student’s death.

Meanwhile, the university said it had informed the appropriate student affairs authorities to provide necessary follow-up, particularly regarding the welfare and emotional support of students affected by the incident.

Vice-Chancellor Professor Simeon Bamire also expressed condolences to the student’s family, friends, classmates and colleagues.

The university further encouraged students facing severe emotional distress, relationship difficulties, financial pressure or other personal challenges to seek help from trusted people and available university support services.

Professor Bamire reaffirmed the institution’s commitment to the welfare of its students and staff, stressing that no student should feel they must face overwhelming difficulties alone.

OAU Investigates Death of Final-Year Student as Police Begin Probe

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Niger State Urges Local Communities to Protect Newly Completed Public Schools

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Niger State Urges Local Communities to Protect Newly Completed Public Schools

Basic education officials deliver modern classrooms to help children learn safely, kicking off an ambitious statewide renovation drive.

State education leaders in Niger State are calling on neighborhood residents and parent groups to take good care of newly renovated primary schools.

On Wednesday, the head of the Niger State Universal Basic Education Board, Dr. Ibrahim A. Liman, reminded communities that public classrooms belong to everyone, warning that state funding can only make a lasting difference when local people watch over these shared spaces.

To prepare for handing over the keys, board officials visited Zango Primary School in Kontagora and Richard Lander Primary School in New Bussa. These two locations are the first to finish out of seven model schools currently under construction.

During their visits, team members inspected classrooms to make sure builders followed high safety standards, while encouraging neighbors to keep the grounds secure, tidy, and ready for pupils.

Furthermore, state officials explained that these building projects are part of a larger plan to improve early education across every community. Alongside these new classrooms, the board is starting repair work on about 400 primary schools throughout the state.

In addition to fixing desks and roofs, authorities are upgrading classroom teaching tools and supporting teachers. As a result, children across all backgrounds will have safe, welcoming spaces to learn and grow together.

 

Niger State Urges Local Communities to Protect Newly Completed Public Schools

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