A Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
Donald Trump admitted for the first time Friday that Barack Obama was born on American soil, after years spent fuelling the so-called “birther” movement that cast doubt on the US president’s legitimacy.
“President Barack Obama was born in the United States, period,” the Republican White House nominee told a nationally-televised press conference.
Trump
“Hillary Clinton and her campaign of 2008 started the birther controversy. I finished it. I finished it. You know what I mean?” he claimed.
Washington – Presidential nominee, Hillary Clinton, on Friday called on her rival of the Republican Party, Donald Trump, to repudiate his own history of questioning President Barack Obama's nationality.
Trump, a New York billionaire with little previous political participation, has long encouraged the "birther'' movement that arose during Obama's 2008 presidential campaign, questioning whether he was born in the U.S.
Clinton, in a Washington speech, said that Trump's campaign was founded on this outrageous lie, saying there was no erasing from the history.
Obama was born in Hawaii; his mother was a Kansas native married to a foreign student from Kenya.
"Barack Obama was born in America, plain and simple, while Donald Trump owes him and the American people an apology,'' Clinton said.
However, Trump too, was due to speak on the issue in Washington.
The Governorship candidate of the All Progressives Congress (APC), Mr Godwin Obaseki, said that he would make Edo, a model to be emulated by other states, in terms of development. The Edo APC guber candidate for the Sept. 28 Governorship election, made the promise at a meeting with the Association of Salon Operators on Friday in Benin.
He said the transformation of the state which had already started under the Adams Oshiomhole-led APC government would be taken to a greater level when he is elected governor. He said his government would not only continue with roads construction, the revolution in the educational sector and agricultural sector but will also seek ways to increase wealth creation in the state.
"We must emulate Lagos State to be a mega state. This has already started but will be move to a logical level where the state will also become a reference point to other states in the country. "Lagos did not become what is today without hard work and consistency in governance. It has been consistent with progressives' governors.
"Here in Edo, we want to be a able to continue from where Oshiomhole's government will stop. "Oshiomhole has done his best, it is left for us to carry on from where he will stop. "As a governor, I will not be learning the rope, as I have been part of the success story of the government but we will be taking it further through human empowerment.
"Our next phase is to increase and create wealth,'' Obaseki said. The governorship candidate said his administration would have a human face. He said that irrespective of party divide, his government would be for the generality of the people.
"We will be changing the face of government, where the government will simply be more responsive to the needs, yearnings and aspirations of the greater number of the people,'' Obaseki said. Mr Henry Idahagbon, a chieftain of the party and the Commissioner for Justice and Attorney-General of the state, urged the association to support the candidacy of Obaseki.
Presidential nominee, Hillary Clinton, on Friday called on her rival of the Republican Party, Donald Trump, to repudiate his own history of questioning President Barack Obama's nationality.
Trump, a New York billionaire with little previous political participation, has long encouraged the "birther'' movement that arose during Obama's 2008 presidential campaign, questioning whether he was born in the U.S.
Clinton, in a Washington speech, said that Trump's campaign was founded on this outrageous lie, saying there was no erasing from the history.
Obama was born in Hawaii; his mother was a Kansas native married to a foreign student from Kenya.
"Barack Obama was born in America, plain and simple, while Donald Trump owes him and the American people an apology,'' Clinton said.
However, Trump too, was due to speak on the issue in Washington.
By Precious John-Aziken STAKEHOLDERS in the nation’s Pension sector, have raised alarm over alleged plots by vested interests to destroy the gains of the Contributory Pension Scheme, CPS, and its regulator; National Pension Commission, PenCom, urging workers and pensioners to be wary of the antics of such vested interests.
Speaking through the Centre for Humanity, CFH, the stakeholders specifically faulted recent allegations of corruption against the Commission by Centre for Public Accountability, CPA, describing it as "fallacious and self-serving".
CFH in a statement in Asaba, Delta State, while urging President Mohammadu Buhari to ignore the frivolous allegations, called on PenCom not to be distracted in its efforts to reposition the pension industry and host the World Pension Summit- Africa Special, which it said Nigeria critically needed to attract foreign investors to reboot the economy in this time of recession.
The statement by CFH’s Spokesperson, Mrs. Ngozi Ogbu, accused CPA of crass ignorance of the pension industry and serving the interest of persons who have been indicted by PenCom for monumental fraud and currently being hunted by the Economic and Financial Crimes Commission, EFCC.
According to CFH, "the allegations of fraud and irregularities were false alarm and unpatriotic act aimed at discrediting and watering down the ongoing collaborative efforts of PenCom and EFCC to bring pension law offenders to book. The wrong facts, narratives, figures, and law citations dished out by the CPA on the pension industry and PenCom, clearly portray them as an ignorant group dabbling into an unfamiliar terrain and one that is out to deceive unsuspecting members of the public.
"The CPA lied that pension assets stand at N5.4 trillion, whereas indeed it stood at over N5.8 Trillion as at July 2016. Instructively, the Director-General of PenCom, Mrs. Chinelo Anohu-Amazu, who is the target of the CPA's smear campaign, met the pension assets at N3.2 trillion as an Acting DG in December 2012, but under her leadership and strict regulatory stance, pension fund has grown to N5.8 trillion as at July 2016. It is also noteworthy that the labour, which is a key stakeholder in the pension industry recognised her disciplined management of PenCom and pension resources by conferring on her the Trade Union Congress, TUC, "Excellent, Visionary, and Emphatic Leader" Award at the Union's 2016 Triennial Congress.
"It should worry well meaning Nigerians that these baseless accusations and false alarms are coming on the heels of the renewed crackdown on pension law offenders by the combined efforts of the EFCC and PenCom".
CFH, while describing the pension industry as a very critical sector, called on Nigerians and those in authority to pursue only purposes that serve the interest of the nation and humanity in general, not those of a few cabals.
Abuj -The Nov. 30 deadline for conclusion of admissions into higher institutions for 2016 remains effective, the Joint Admissions and Matriculation Board (JAMB) said on Friday.
The Registrar of the board, Prof. Is-haq Oloyede, reaffirmed the deadline in Abuja in his address at the opening of an Extra-Ordinary Technical Committee Meeting on 2016 Admissions to First Choice Institutions.
The meeting held at the Baze University, Abuja.
He said that the meeting was an indication that the board was ready to attend to legitimate requests of its stakeholders and clients in the collective quest for efficiency.
Oloyede said that JAMB would be flexible except in cases where flexibility would be unethical or inimical to national interest.
According to him, the meeting is in line with the board's pledge to be consultative and all-inclusive in the discharge of its functions.
"The First Technical Committee Meeting was held in Bayero University, Kano, from Aug. 22 to Aug. 26, where institutions were expected to make submissions for their first choice admissions to admissions' panels at the technical sessions.
"However, some institutions informed the meeting that they were not ready to make submissions as internal processes leading to the exercise had not been completed.
"The affected institutions requested for an earlier special date than the date for the Second Technical Committee Meeting scheduled for Nov. 14 in Owerri, Imo State,'' he said.
Oloyede said that he expected the institutions represented at the meeting to be prepared to make presentations of their recommended candidates to the board.
He said that the meeting was primarily for placement of suitably qualified candidates into tertiary institutions.
"As such, I need to re-state my earlier submission that the senate and the academic boards of the institutions have the primary responsibility of recommending candidates to the Joint Admissions and Matriculation Board for admissions.
"JAMB will not initiate or insert any candidates but will, as expected, ensure that no candidate is unjustly treated by any institution.
"The Joint Admissions and Matriculation Board is thus a referee for justice, equity and standards," he said.
The registrar said that the only difference in the 2016 admissions process was the policy that there should be no written post Unified Tertiary Matriculation Examination test.
He said that other admission processes remained.
The registrar urged institutions yet to update their requirements for the 2017 brochure to urgently do so.
Nri (Anambra) – The traditional ruler of Nri in Anaocha Local Government Area of Anambra, Eze Obidiegwu Onyesoh, has urged Nigerians to stop blaming President Muhammad Buhari for the challenges facing the country.
Onyesoh made the call on Friday while addressing newsmen ahead of Saturday's celebration of 2916 new yam festival in the kingdom.
He stated that all Nigerians, especially the past leaders, contributed to the country's problem.
"Buhari is not our headache; corruption and looting of national assets were there before he came in.
"Corruption was institutionalised in the country and everybody acted with impunity.
"There was no discipline anywhere. So, we should stop blaming Buhari; rather, we should blame ourselves and do some self-examination," he said.
Onyesoh urged the people to allow Buhari to reconstruct the country which was already in shambles before his election.
On the festival, the monarch explained that Nri was regarded as the ancestral home of the Igbos, and that there were myths surrounding new yam festivals.
"Igbo mythology has it that when Nri became hungry and needed something to eat, he found yam sprouting from his son's grave and when he uprooted it, cooked it and ate it, it tasted good.
"This is why yam is venerated among the Igbos and anyone who deliberately damage yam crops is treated as a murderer," the monarch said.
According to him, new yam festivals followed an injunction by God to the people of Israel to offer their first crop on the seventh month of the lunar calendar.
Abuja – President Muhammadu Buhari will on Sunday depart for New York, United States, to participate in the five-day 71st session United Nations General Assembly (UNGA) beginning on Monday.
This is contained in a statement issued in Abuja on Friday by the president's Special Adviser on Media and Publicity, Mr Femi Adesina.
The statement said that the president would deliver Nigeria's statement at the opening of the General Debate of the Assembly on "The Sustainable Development Goals: A Universal Push to Transform Our World."
Adesina revealed that the president would also attend a high-level summit to be hosted by the UN, on "Large Movements of Refugees and Migrants''.
"The summit, which is the first of its kind organised by the General Assembly at the Heads of State and Government level, is expected to come up with a blueprint for a better international response to enhance protection of migrants and refugees.''
He also said that Buhari would deliver a keynote address on "Taking Climate Action toward Sustainable Development in Nigeria and the Lake Chad Basin."
The president's aide disclosed that leaders of member-countries of Lake Chad Basin would attend the summit, organised by Nigerian government, to highlight the urgent need to mobilise international response to the situation in the Chad Basin.
"Over nine million people are in need of humanitarian assistance in the Lake Chad Basin."
He said that while in New York for the annual gathering of world leaders, the president would attend series of meetings as well as side events, which were of significant interest to Nigeria.
Adesina said that the president would equally participate in an event hosted by the UN Secretary-General, Ban Ki-Moon, on "Ending Need in the Lake Chad.''
"On the margins of the 71st UNGA, President Buhari will sign the Paris Agreement on Climate Change, and participate in activities commemorating the 30th anniversary of the Declaration of the Right to Development.''
He said that the Nigerian leader would attend the Clinton Global Initiative as well as the United Nations Private Sector Forum on Business and Global Goals organised by the Secretary General.
According to Adesina, the president will lead discussions at the United States-Africa Business Forum devoted to investing in Nigeria.
He said that the president would hold bilateral meetings with some world leaders in furtherance of his administration's commitment in ameliorating the plight of Internally Displaced Persons (IDPs) in the country.
He said that the discussions would also focus on the president's longstanding commitment to returning peace and security in the North-East of Nigeria.
Adesina stated that the discussions would also focus on restoring calm to the Niger Delta, and attracting more investments to develop critical infrastructure and revamp the Nigerian economy.
The Federal Government has announced that it has launched fresh bid to rescue the Chibok girls. Minister of Information, Alhaji Lai Mohammed, announced the new move at a media briefing in Abuja on Friday. The minister said previous efforts to bring back the girls were frustrated by in fighting among the insurgents and middle men, who ?exploited the process for pecuniary gains. Details coming…
A High Court sitting in Bukuru, Plateau, has committed, Shehu Dikko, Chairman, League Management Company (LMC) and Salish Abubakar, its Chief Operations Officer, to 14 days imprisonment for contempt.
The judge, Justice Ishaku Kunda, in his ruling, committed to Jos Federal Prison on Friday for disobeying the orders of the court.
Kunda, who gave the order of committal, also issued a warrant of arrest of Dikko and Abubakar.
He said that the duo had brought court of competent jurisdiction to disrepute by blatantly refusing to appear before it when they were ordered to do so.
The judge said that Dikko and Abubakar disobeyed the court order that ordered the suspension of the Nigeria Professional Football League (NPFL) pending the determination of a case before the court.
The court had in August ordered LMC to reinstate Giwa Football Club after it was evicted from the NPFL by the LMC for failure to honour three fixtures in the league.
Mustaphar Abubakar, who acted for himself and on behalf of Giwa FC, prayed the court to compel LMC to restore Giwa FC to the NPFL.
He also prayed for rescheduling of all matches of the club which had been cancelled, and direct LMC to return to the club all players who departed the club and registered for other clubs upon its expulsion.
The LMC, had through its chairman, issued a circular reinstating Giwa, but the club rejected the reinstatement for non-compliance to orders of the court.
The court also in another sitting ordered the suspension of the NPFL since the league was time bound until Giwa was reinstated, but that too was not obeyed.
The court at yet another sitting, ordered that the both Dikko and Abubakar to physically appear and explain while they failed to carryout the orders were not obeyed.
Kunda in his ruling said that parties were duly served the order to appear and their refusal amounted to contempt of court.
He said that the court earlier order of the suspension of the league was still valid and subsisting since it was not laid by a court of competent jurisdiction.
Mr Sunday Lafat, Counsel to Giwa FC, expressed satisfaction with the ruling.
The counsel to the LMC, however, declined to speak with newsmen and immediately drove out of court premises.
An Ekiti Chief Magistrates'Court on Friday remanded three men, Idris Kolawole, 19, Alaba Oluwole ,20, and Monday Tolulope ,23, in prison custody for alleged gang rape of a 12 year-old girl.
The Chief Magistrate, Idowu Ayenimo, who remanded them, frowned at the alarming rate of rape cases, especially on minors.
He adjourned the case till Nov.4 for mention.
The Prosecutor, Sgt.Bankole Olasunkanmi, told the court that the accused committed the offence on Sept.10 at Ifaki-Ekiti.
Olasunkanmi said that the accused, and others still at large, on the said date unlawfully gang raped a 12-year-old minor one after the other while on an errand for her mother.
He said the victim was hospitalised because of the the defilement, adding that the offence contravened sections 218,516 of the Criminal Code, Cap C 16,Laws of Ekiti State. 2012.
The prosecutor informed the court that he had forwarded their case file to the office of the Director of Public Prosecution for legal advice.
An Ado-Ekiti Magistrates' Court on Friday remanded a 33-year-old hunter, Ganiyu Abdullaral, in prison custody for allegedly killing his friend who alleged changed into a pig.
The Magistrate, Modupe Afeniforo, directed the prosecutor to duplicate the file and send it to the Director of Public Prosecution for legal opinion. Afeniforo adjourned the case till Nov.11 for further mention.
Prosecutor Monica Ikebulo told the court that the accused shot at a bush pig which later transformed into his friend.
Ikebulo said the accused committed the offence on Sept.9 at Iwaraji Camp via Efon Alaaye in Efon Alaaye -Ekiti.
She said that the accused on the said date with eight of his colleagues now at large went for group hunting and unlawfully shot his friend, Iginla Oluwashina, with his Dane gun.
The prosecutor applied for an adjournment to enable her duplicate and send the office to the Director of Public Prosecution for legal advice.
Ikebulo said the offence contravened Section 319 of the Criminal Code, Cap C 16,Laws of Ekiti State. 2012.
A mother of three, Nike Akinbile has told a Mapo Customary Court, Ibadan, that her husband Femi is desperately making effort to use her for monetary ritual.
Nike, who resides at Olunloyo Area, Ibadan, made this known when she testified in her divorce proceedings against Femi on Friday.
"For the past two years now, Femi has been making frantic effort to get rich at all cost and I am his primary target for that purpose. "Not too long ago, I was just lying on the bed, Femi thought that I had slept off, so he attempted to strike my eyelids with traditional eyeliner also known as tiro.
"I have received several visions that he wants to use me as a sacrificial lamb for the ritual he is making and I don't want to die now,'' she said. She said that the respondent don't `even cater for her and the three children, adding that they lack access to basic care.
Nike, who urged the court to dissolve the 11-year-old marriage, said that she had made up her mind about parting ways with him and nothing could change it. In his defence, Femi, a businessman of Akanran Area of Ibadan, denied all the allegations and opposed the divorce petition.
Femi said that he did not want the children to encounter any problem in life and that was the reason he wanted the union to continue.
"Your honour, I have suffered greatly all this while to sustain and marry Nike. I was the one that sent her to school and made her self-employed. "For Nike's education, I enrolled, wrote her examinations for her as well as supervise her other academic pursuits.
"In order to be well balanced in life, I encouraged her to learn tailoring which is her source of livelihood today. "As if those are not enough, I buy Nike all sorts of ladies' make ups to make her look beautiful and good, but Nike does not use any of the things like shoes, bags, clothes, and so on.
"Instead, Nike always tell me that she must take them to the church for cleansing and eventually dumped them.'' He said the major conflict was that "we don't attend the same church, her pastor told her that the make ups I give her are weapons of devil''. Femi told the court that Nike compelled their underage children to fast for days, thus, giving the impression that they were from impoverished and wretched home.
He tendered sacks of the make-ups he bought for his wife over the time as exhibit. The court's President, Mr Henric Agbaje, in his judgment, held that it was painful that some religious leaders influenced their followers with unacceptable doctrines that might result into marriage break ups.
"Well, since Nike has refused to be pacified to settling the dispute amicably, the court has no other option than to put an end to the union. "Femi shall take custody of the first two children who are no more legal minor, while Nike shall take custody of the third who is still a legal minor.
"In the interest of peaceful coexistence, the union between Nike and Akinbile has ceased to be henceforth," he said.
The National Bureau of Statistics (NBS) says Consumer Price Index (CPI) has increased to 17.6 per cent (year-on-year) in August from 17.1 per cent recorded in July.
A report released by the NBS in Abuja on Friday stated that the CPI, which measured inflation, was 0.5 per cent points higher from the points recorded in July. The report noted that increases were recorded in all Classification of Individual Consumption by Purpose divisions, which contributed to the headline index reflecting higher prices across the board.
"The major divisions responsible for accelerating the pace of the increase in the headline index were Housing, Water, Electricity, Gas and Other Fuel, Education and Transportation Services. "The Food Index rose by 16.4 per cent (year-on-year) in August, up by 0.6 per cent points from 15.8 per cent recorded in July.
"During the month, all the major food groups contributed to the increase in the Food sub-index. " However, the pace of increase was slowed by Fruits, Potatoes, Yam and other Tubers as well as Oils and Fats, which reported slower increases during the month,'' it stated.
The report also stated that imported foods as reflected by the Imported Food Sub-index, increased by 0.2 per cent points from July to 20.7 per cent in August.
"Price movements recorded by the All Items less farm produce or Core sub-index increased by 17.2 per cent (year-on-year) in August, and up by 0.3 percentage points from rates recorded in July (16.9 per cent). "During the month, the highest increases were seen in Solid fuels, Vehicles parts Books and Stationery and Clothing and other articles of clothing.''
On a month-on-month basis, the report stated that the headline index rose by 1.0 per cent in August, marginally lower than the 1.3 per cent recorded in July. " This is the third consecutive month of a slower pace of increase in the Headline Index,'' it stated.
In addition, the report stated that Urban and Rural prices continued to rise in the month of August. "The Urban index increased by 19.3 per cent (year-on-year) in August from 18.9 per cent recorded in July, while the Rural index increased by 16.1 per cent in August from 15.5 per cent in July,'' it added.
A research work on budget transparency and implementation in the Niger Delta has scored Bayelsa low on public funds management and transparency.
The report of the research was presented at a one-day forum on Friday in Yenagoa for stakeholders in Bayelsa organised by Bayelsa Non Governmental Organisations Forum (BABGOF).
The result of the empirical research revealed lack of budget governance practice by the Bayelsa government.
The research conducted in five states of Akwa Ibom, Bayelsa, Delta, Edo and Rivers, carried out by the Niger Delta Citizens and Budget Platform (NDCBP) reviewed the 2014 budgets of the states covered.
The report titled: "Campaign Votes: Citizens' Report on State and Local Government Budgets in the Niger Delta 2014", was done by a civil society group, the Social Action Development Integrated Centre (Social Action).
It was funded from the Strengthening and Civic Engagement Programme of U. S. Agency for International Development.
A total of seven NDCBP implementing member organisations, including BABGOF participated in various stages of the programme implementation.
Bayelsa government in the 2014 fiscal year signed a budget of N332.826 billion with recurrent expenditure profile of N183.989 billion comprising 55.3 per cent and N148.836 billion for capital expenditure 44.per cent of the budget.
Mr Ekpere Prince, Social Action's Project Officer, who spoke on the theme, "State of Open Budget in the Niger Delta" noted that Bayelsa scored only eight out of the 28 indicators used to assess its transparency in budget governance.
He listed some of the indicated shortfalls to include non executive consultation on budget, legislative defence not open to public, no public hearing at legislature on the budget, among others.
He said that Bayelsa's attempt to make the budget document public started in 2008 and ended the following year 2009.
Ekpere said that in spite of claims of operating a transparent government, the Dickson administration did not respond to Freedom of Information Act-based request for copies of the 2016 budget of the state.
"In 2008, Bayelsa state became the first in the state Niger Delta and perhaps in Nigeria to post its annual budget online. At the time, this was a major departure from a tradition of secrecy which prevailed in relation to state budgets.
"This practice was brought to an end in 2009. Since then, the state budget has been recluse.
"In 2016, Freedom of Information request was dispatched to the Ministry of Budget and Economic Planning, Ministry of Information and Ministry of Education requesting 2016 budget and other basic information.
"None of the agencies responded to the request. The practice of opaque system in Bayelsa state has continued in spite of the passage of a transparency law ostensibly meant to make fiscal information proactively available in the public space."
In their contributions, some stakeholders who spoke at the meeting advised the state government to prevail on political appointees to refrain from personalising public offices for citizens to enjoy the dividends of democracy.
By Innocent Anaba Mr. Joachim Iroko, the man charged to court for naming his dog 'Buhari' has asked the Chief Magistrate's Court, Ota, Ogun State, to dismiss the charge filed against him by the police.
It will be recalled that Mr. Iroko was arraigned before the Chief Magistrate's Court, Ota, on August 22, 2016, on a one count charge of inscribing the name 'Buhari' on his dog and parading same in the Hausa section of the Ketere market in Sango area of Ogun State. Mr Iroko has however denied the charge.
In a fresh application filed before the court, Mr. Iroko, through his lawyer, Ebun-Olu Adegboruwa, he is challenging the constitutionality and legality of the charge, which he is asking the court to quash. In the motion on notice filed in court on September 16, 2016, Mr Iroko is seeking the following orders, from the court:
He is further the court for an order quashing Charge No: 671C/2016 preferred against the Applicant herein for want of jurisdiction.
*An order setting down this application for hearing preliminarily.
*An order staying further proceedings in this Honourable Court, in Charge No. 671C/2016, pending the hearing and final determination of this application."
The fresh application and prayers are predicated on the grounds that follows:
*This court lacks the requisite jurisdiction to entertain and adjudicate upon charge No. 671C/2016, preferred against the applicant herein.
*The subject matter of Charge No.671C/2016 preferred against the applicant herein does not a criminal offence in law for which the applicant could be put to trial.
*This court has the jurisdiction to quash a charge where there is no disclosure of an offence and the trial would amount to an abuse of the process of the court.
*There is an inherent jurisdiction in this Honourable Court to prevent an abuse of its process.
*Charge No.671C/2016 as presently constituted is unconstitutional, null, void and cannot form the basis of any criminal trial.
The case is slated for September 19, 2016.
Mr Iroko has consistently maintained that he has the legal right to give his dog any name and that the name 'Buhari' is not synonymous with or exclusive to the President of the Federal Republic of Nigeria.
The case is being presided over by Magistrate B.J. Ojikutu ogf the Chief Magistrate's Court 2, Ota, Ogun State
Nigeria plans to raise $1 billion on the Eurobond market this year in a move designed to plug a budget deficit, said the country’s finance minister Friday.
Speaking at a press conference in the nation’s capital of Abuja, finance minister Kemi Adeosun said the government had earlier this month approved the plan to issue international debt for the first time since 2013.
Adeosun said that the bonds are expected to go on sale in December, with the proceeds channelled into capital projects.
“We are about to appoint our advisers. We are raising one billion dollars,” Adeosun said. “I want to re-emphasise that we have a strategic plan that will take us out of the recession that we find ourselves in. We want to make sure that this recession is the shortest possible.”
Nigerian President Muhammadu Buhari announced a record 6.1-trillion-naira ($19.4-billion) spending plan for this year’s federal budget to try to stimulate growth.
The government will be seeking loans from the World Bank, the African Development Bank, China Exim Bank and the Japan International Cooperation Agency.
“These concessional loans will go to the strategic sectors of the economy,” Adeosun said earlier in September, citing the power and agricultural sectors as a key areas of focus.
Nigeria is in a recession, suffering from double-digit inflation and a massive drop in foreign investment as it struggles to undo the effects of a rigid foreign-exchange regime that led to a shortage of dollars and drained reserves.
The West African country’s economy is dependent on oil revenues, which have been hit by a plunge in the global price of crude and ongoing rebel attacks on infrastructure in the oil-producing southern region.
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