Nigerians protest food shortage at town hall meeting

 

ABUJA— The atmosphere was charged, yesterday, as participants at the special Town Hall meeting organized by Ministry of Information and Culture, in collaboration with the Alumni Association of National Institute for Policy and Strategic Studies, AANI, in Abuja, confronted nine ministers, demanding for quick remedy to the current economic hardship in the country.
Some of the aggrieved participants told the ministers that Nigerians were tired of the talkshops and that government should do more to put food on their tables. Speaking at the meeting, Minister of Budget and National Planning, Senator Udoma Udo Udoma, said 2017 Budget would be submitted to the National Assembly by October this year. 

Fani Kayode and Others: Court orders suspects back to prison, reserves bail ruling till July 4

Justice M. S. Hassan of the Federal High Court Ikoyi on Friday July 1, 2016, adjourned the ruling for bail on the case involving Nenadi Esther Usman, a former Minister of Finance and Director of Finance PDP Presidential Campaign Organization in the last general elections along with Femi Fani-Kayode also a former Minister and Director Media/Publiciity of the PDP Presidential Campaign Organization, Danjuma Yusuf and Jointrust Dimensions Nigeria Limited who are been prosecuted by the EFCC till Monday July 4, 2016. 

PRESS RELEASE: FG TO RE-JIG MULTI-BILLION NAIRA YouWin PROGRAMME

The Federal Government is set to start consultations with beneficiaries and other stakeholders on the restructuring and refocusing of the multi-billion Naira Youth Enterprise with Innovation in Nigeria (YouWin) programme with the objective of injecting new ideas for its sustainability.

The Federal Ministry of Finance, which has been running the programme from inception, has scheduled the consultation for July 22, 2016 in Abuja, where representatives of the beneficiaries drawn from the six-geo-political zones and other stakeholders would chart a way forward for the programme.

FG TO RESTRUCTURE PROJECT ACT NOLLYWOOD FOR SUSTAINABILITY

* CONVENES STAKEHOLDERS WORKSHOP

The Federal Government is organizing a workshop for stakeholders aimed at restructuring and reinvigorating Project ACT Nollywood, the N3billion grant programme established by the Federal Government to solve the main challenges impeding the growth of the Nigerian movie industry.

The workshop, which is scheduled for Friday July 1, 2016, would be attended by representatives of the key stakeholders in the Nigerian Film industry, such as the Federal Ministry of Information and Culture, the leadership of Nollywood, the Actors Guild, Film and Videos Censors Board, The Nigerian Film Corporation and The Nigerian Copyright Commission.

The Minister of Finance, Mrs. Kemi Adeosun, the Convener of the workshop, has stated that the ideas discussed during the workshop would be part of the inputs for restructuring the project to ensure its sustainability.

BUHARI'S SUGAR-COATED PILL TAKES ANTI-GRAFT WAR TO THE STATES By Garba Shehu

The recent agreement between the federal and state governments to implement a Fiscal Sustainability Plan, FSP marks a new level in President Muhammadu Buhari's ambitions to cure the Government at federal and state levels of their corruption ills.

Before now, observers had noted the existence of a gap between what the administration is doing at the center and the business-as-usual going on in the states, without regard to the political party in power.

Directives on the Economy: Buhari Orders Full Exploration of Solid Minerals in the Country,

At a time oil volatility seems to be hampering the ‎full implementation of the 2016 budget, President Muhammadu Buhari, has demanded for a full exploration of solid minerals in the country, in order to enhance revenue.

The President who made this known through the Vice President, Yemi Osinbajo, said the Federal Government is committed to tapping iron ore in the country.

Presently, Nigeria is the 12th largest iron ore resource country in the world, and second largest in Africa.

Nigeria has about 2 billion metric tonnes of iron ore reserves.

Kemi Adeosun say No more bailout for states, says finance minister

The Federal Government on Thursday ruled out the possibility of providing bailout funds for state governments to meet their financial obligations, including the payment of salaries of workers, due to declining allocation from the Federation Account.

It insisted that rather than providing fresh funds for the states to run their operations, the state governments must restructure their finances in line with the current economic realities.

The Minister of Finance, Mrs. Kemi Adeosun, who stated these during an interview on Channels Television’s Sunrise Daily, noted that unlike in the past when state governments had a lot of allocation from the Federation Account, the drop in oil prices had made it imperative for the governors to reduce the cost of governance.

Aregbesola, Others Get Relief As President Buhari Suspends Deductions

Osun and Edo States Governors

The Minister of Finance, Mrs Kemi Adeosun had during her reports to the National Economic Council (NEC) meeting said President Muhammadu Buhari ordered the suspension of monthly deduction at source for this month, and no such deductions would be made this month from the FAAC allocations to the States

According to Adeosun: "Regarding the salary assistance loans, the Finance Minister informed Council that President Muhammadu Buhari has approved the suspension of monthly deduction at source for this month, and no such deductions would be made this month from the FAAC allocations to the States."

"This is meant by the President to give the States some financial relief at a time the FAAC allocations are dwindling due to the drop in oil prices."

· The Vice President, Prof. Osinbajo during the NEC meeting added that the President will continue to review the situation of the States on an ongoing basis and take appropriate relief measures as necessary and possible.

Ex Finance Minister, Okonjo-Iweala speaks on reason for Nigeria's current challenges & profer solutions

Ngozi Okonjo-Iweala, former Minister of Finance on Thursday said the zero political will to save under former President Goodluck Jonathan is responsible for the challenges the country is facing.

While speaking at the George Washington University, on "Inequality, growth and resilience," former Minister said the zero political will to save under former President Goodluck Jonathan is responsible for the challenges the country.

The two-time finance minister said the World Bank and the International Monetary Fund (IMF) must seek means to embed savings in national constitutions devoid of political manipulations, adding that Nigeria was able to save $22 billion under former President Olusegun Obasanjo, which saved the country in 2008, when there was global economic meltdown.