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FG Is Intentional About Ending Borrowing – Finance Minister

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The Federal Government (FG) says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

FG is intentional about ending borrowing – Finance Minister

The Federal Government (FG) says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving the business environment for local and foreign investment.

Edun said that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long term basis.

He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself over time.

Similarly, the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, said investment offers were already coming up in different sectors of the economy, including oil and gas, health, solid minerals and agriculture.

She said that her ministry would collaborate with relevant Ministries, Departments and Agencies of government to achieve the president’s commitment to creation of jobs for the teeming youthful population of Nigeria.

On his part, the Minister of Health, Dr Ali Pate, said that critical sections of the health value chain would be exploited to improve the economy and create jobs for Nigerians.

He said that the president had directed them to be courageous and innovative in taking decisions that would benefit the country, adding that the president has already taken such moves.

Pate said that the president was responsive to the need to set the economy on the path of progress with his move to remove subsidy on petrol from the first day of his inauguration.

The Minister of Information and National Orientation, Alhaji Mohammed Idris, said that the president charged the cabinet members to be transparent in their dealings, especially in disseminating necessary information.

He urged the media to avail themselves of the opportunity of verifying and fact checking their stories in order not to misinform the public.

Credit – The Nation

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SystemSpecs’ Sixth Children’s Day Essay Competition to Kickstart in February 2025

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The organisers of Children’s Day Essay Competition (CDEC), SystemSpecs a leading software technology company, has announced the 2025 edition.

According to them, the porter will be open on February 3, 2025.

For the sixth consecutive year, the CDEC will provide Nigerian children aged 9 to 16 a platform to showcase their creativity, critical thinking, and problem-solving skills through the application of technology in addressing real-world issues.

As a cornerstone of SystemSpecs’ Corporate Social Responsibility (CSR) efforts, the CDEC has, for the past five years, promoted technological awareness and fostered innovation among young Nigerians. The competition aims to nurture local talent and equip the next generation of leaders with the skills necessary to thrive in Nigeria’s digital economy.

Mrs. Bukola Adeoye, Executive Director of Corporate Services at SystemSpecs Holdings Limited, expressed her enthusiasm for the upcoming edition: “For Nigeria to compete effectively on a global scale, the next generation must be equipped with the requisite technological skills from an early stage. Therefore, over the past five years, we have been dedicated to promoting technological awareness nationwide, highlighting the significance of initiatives like this in shaping Nigeria’s digital future through the CDEC. We are happy to announce that the upcoming edition of CDEC will provide all Nigerian children with another opportunity to explore technology and develop crucial skills for the future.”

ALSO READ: SystemSpecs’ GMD, John Obaro, Advocates for Robust Digitalisation to Improve Governance Frameworks

With over three decades of experience in ICT development, SystemSpecs has continually invested in nurturing young talent, helping to create sustainable change in the tech sector. This competition reflects the company’s long-term vision of promoting technological literacy and capacity development, positioning Nigeria to compete globally in the digital economy.

The competition, which has become increasingly competitive, is expected to attract participants from all 36 states and the FCT, as students are eager to showcase their innovative ideas. The next edition promises to engage new schools, students, and parents while continuing to inspire thousands of young minds across the country.

CDEC has gained widespread national acceptance, drawing participation from both public and private schools across Nigeria. The competition has seen a significant increase in entries, particularly from female students, aligning with global initiatives like Girls in ICT. As part of its impact, the competition has influenced millions of students, helping them build confidence, creativity, and a passion for technology.

As SystemSpecs gears up for the 2025 edition, Mrs Adeboye emphasised the company’s excitement about engaging with new students, schools, and parents: “This competition is becoming increasingly competitive, and we look forward to even greater participation next year. It’s a unique opportunity for students to explore technology and develop essential skills that will empower them for the future.

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Lagos LG Boss, Olakanle Dies In Office, Like His Predecessor

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OLU JAMES RAPHEAL

 

Onigbongbo LCDA chairman, Oladotun Olakanle, has passed away at the age of 54, he was said to have died days after attending the burial of a close friend and APC chieftain, Dr. Adesola Taiwo.

Late Olakanle would be the second Onigbongbo LCDA chairman who will die in office while serving their second term.

This tragic event marks the second time a sitting council boss in Onigbongbo LCDA has died in office during their second term. Olakanle’s predecessor, Babatunde Oke, also passed away due to Covid-19 complications while serving his second term.

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US President, Biden Thanks Tinubu Over  The  Release Of Gambaryan

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… discussed African Security

President of the United States, Joe Biden, has expressed his gratitude to President Bola Ahmed Tinubu and the Nigerian government for dropping the criminal charges against Head of Financial Crimes Compliance at Binance, Tigran Gambaryan.
Gambaryan, a US citizen, was arrested on a business trip to Nigeria in February and charged with his company for laundering $35.4m and tax evasion, which they denied.
This followed the escape from custody of his colleague Nadeem Anjarwalla, a British-Kenyan national who was Binance’s Africa regional manager, and had been arrested in Nigeria alongside Gambaryan.

But the Economic and Financial Crimes Commission (EFCC) last week announced that it had withdrawn the money laundering charges against Tigran Gambaryan to allow him to get medical treatment outside the country.

However, to express gratitude on the development and a number of other matters of mutual interest, President Biden called President Tinubu at about 4pm today (Tuesday) and held a conversation, which lasted about 30 minutes.

Minister of Foreign Affairs, Ambassador Yusuf Tuggar, who disclosed this to journalists at the State House, Abuja, said discussions centered around the recent discharge of Gambaryan and other diplomatic issues.
The Minister said Biden expressed support for Nigeria’ quest to get a permanent seat status on the United Nations Security Council, especially with the country’s leadership roles in Africa and peace-keeping efforts and sacrifices across the globe.

According to Tuggar: “The call was about the collaboration between the two countries with regards to law enforcement and law enforcement agencies as well as the release of one of the suspects of the crypto currency exchange company that you are all aware of.

“In response, President Tinubu also thanked him and the US for the partnership and collaboration in numerous areas, and also discussed the issue of collaboration with regards to security in Africa, in particular West Africa.
“President Biden equally assured that this is a partnership that will continue and he stated, as a matter of fact, not more than not just once, but at least twice, that the future of the world resides in Africa, which is why it was important for this partnership to continue.
“The two leaders also discussed the issue of the permanent seats in the United Nations Security Council, and President Biden once again assured that the United States is committed to seeing Africa having two permanent seats and also reiterated that he does not see any reason why one of those seats should not belong to Nigeria, given its position in Africa, its stature and importance.”

 

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