Battle Of Eagles: Nigeria Fall To Mali In Marakech

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March 27, 2024

Former Nigerian footballer, Finidi George’s bid to become the permanent head coach of the Nigeria Men’s national team has suffered a setback after his side fell to Mali in the battle of Eagles at Marrakech, Morocco.

This came after the Super Eagles lost 2-0 to Mali’s Eagles. The Nigerian team came into the game on the back of a 2-1 win over Ghana’s Black Stars, which was George’s first game in charge.

Despite making a few changes to the side that won against Ghana, the Super Eagles had a slow start against the Eagles of Mali.

The Malians looked more energetic, willing to take risks while George’s men were just happy to keep the proceedings safe.

This lack of energy in Nigeria’s play would eventually cost them as the Malians took the lead in the 18th minute, although in fortunate circumstances.

The Malians took advantage of Chidozie Awaziem’s unfortunate pass at the back, which fell into the path of El Bilal Toure, who made no mistake in slotting the ball past Stanley Nwabali in Nigeria’s goal.

Nigeria tried to raise their tempo after Bilal Toure’s goal, but it was too little, too late. The Super Eagles failed to fashion an opening, despite continued dominance in possession in the second half.

The Malians remained compact in defence, and Nigeria’s failure to create clear chances would cost them dearly as Kamory Doumbia doubled the Eagles’ advantage three minutes from time.

This goal put the final nail in the coffin, as Mali claimed a stunning 2-0 win over Nigeria, denting Finidi Goerge’s hopes of getting the job permanently.

Nigeria 0-2 Mali: Lessons From The Battle Of Eagles

By

Emenike Agu

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March 27, 2024

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Nigeria suffered a 2-0 defeat to Les Algles of Mali following their impressive 2-1 victory over Ghana days ago.

The game against Mali left a lot to be desired, and here are three things we learned from the disappointing result:

`Firstly, errors from Omeruo and Awziem disappointed Finidi George’s men in Marrakech on Tuesday night. The defenders left Nigerians missing the Ekong-Ajayi-Bassey combination at the 2023 AFCON. But some days are like that,

Secondly, Finidi George’s Super Eagles dream took a major blow as Mali stunned Nigeria. The jury is still out on Finidi George as the interim coach of the Super Eagles. Although he made some tactical alterations in the victory over Ghana, the showing against Les Aigles calls for further evaluation. The Nigerian Football Federation’s search for Jose Peseiro’s replacement is ongoing, and Finidi George is one of the contenders for the role.

Most Nigerians who had previously backed Finidi for the job will pause and that implies Emmanuel Amunike retains the tag as favourite to land the job.

Lastly, although Nigeria lost the game, Alex Iwobi was involved in everything positive for the Super Eagles, proving that his impressive season with Fulham can be replicated in Nigerian colors.

In addition to this, Cyriel Dessers failed to grab his opportunity and stake his claim for future invitations over two matches. He scored against Ghana, but it was from the penalty spot, and he missed crucial chances against Mali that could have changed the outcome for the Super Eagles of Nigeria.

The players will return to their respective clubs after the March International break – but there is concern about Moses Simon’s injury – hopefully, it is not as serious as the initial signs from videos showing the Nantes man in tears as he was taken off the pitch.

Up next will be qualification games for the 2026 World Cup and 2025 AFCON. By then, the Eagles will have a new head coach.

Victor Boniface Returns To Full Training

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Emenike Agu

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March 27, 2024

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Super Eagles striker Victor Boniface has made a triumphant return to full training at Bayer Leverkusen after a three-month injury lay-off.

Boniface made significant impact at Bayer Leverkusen following his $20.5 million transfer from Belgian club Royale Union SG. The 23-year-old striker’s impressive performances saw him amass 16 goals and eight assists in just 23 games for Die Werkself.

His stellar displays earned him consecutive Bundesliga Rookie of the Month awards and a call-up to the Super Eagles squad for the 2023 Africa Cup of Nations.

However, his progress was halted by an adductor injury at the beginning of the year, which required surgery and forced him to undergo a three-month rehabilitation process.

Despite initial projections suggesting a return in early April, coach Xabi Alonso hinted at a potential earlier comeback for Boniface.

Now, in a positive turn of events, Bayer Leverkusen has shared images of Boniface training alongside his teammates at the club’s training ground, indicating that he has made a full recovery.

Super Eagles striker Victor Boniface has made a triumphant return to full training at Bayer Leverkusen after a three-month injury lay-off.

With his return, Boniface becomes available for selection in Bayer Leverkusen’s upcoming Bundesliga fixture against Hoffenheim this Saturday, providing a significant boost to Die Werkself. However, coach Xabi Alonso may opt for a gradual reintroduction of Boniface into the starting lineup given his extended absence.

As Bayer Leverkusen enters the final stretch of the season with eight fixtures remaining, they aim to secure the Bundesliga title as quickly as possible.

Additionally, their presence in the Europa Cup quarter-finals against West Ham presents another opportunity for success.

With Bayer Leverkusen remaining the only unbeaten team in Europe’s top five leagues, Boniface’s return will be crucial in maintaining their formidable form and contributing goals to propel them to victory throughout the remainder of the campaign.

Nollywood Actor Amaechi Muonagor passes on at 62

By

Emenike Agu

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March 26, 2024

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Nigerian actor Amaechi Muonagor is dead, the veteran actor died on Sunday at the age of 62.

His colleague, Kingsley Orji, broke the news via social media on Sunday evening.

Kingsley drew the public’s attention to Amaechi’s plight earlier in the month when he shared a video of the late actor on his social media handle, saying the illness affected his speech.

At the same time, Tony ‘Oneweek’ Muonagor, a singer and cousin of the late actor, posted a burning candle on his social media page, symbolizing mourning for someone’s death.

In November 2023, Amaechi Muonagor suffered a stroke, before he was diagnosed with kidney disease, diabetes, and stroke in December 2023.

On the 19^th of March 2024, that the late actor sought financial assistance from Nigerians and philanthropists for a kidney transplant in India but passed on before the assistance could be made. After the Actors Guild of Nigeria sought financial support for the actor.

AGN’s National President, Emeka Rollas, on his social media page, noted that AGN approved some money to be sent to him from the guild’s trust fund.

Amaechi Muonagor started off his career as a journalist with the News Agency of Nigeria (NAN) in 1989 before debuting in Nollywood in the early 90s classic, Taboo (part 1).

He hails from Obosi in Anambra State and is famous for his roles in movies like Taboo (1), Aki and Pawpaw, Karishika, Aki na Ukwa, Igodo, and others.

He was nominated for the 2017 Africa Magic Viewers’ Choice Awards for Best Actor.

Road Construction: Executive Council Okays N1.267Tn

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Rhoda Onuzulike

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March 26, 2024

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The Nigerian government has approved the sum of N1.267 trillion for the construction of 28 roads and bridges across the country.

The Minister of Works, Dave Umahi made this disclosure while briefing State House Correspondents at the end of the Federal Executive Council meeting presided over by President Bola Ahmed Tinubu in Abuja.

Umahi revealed that apart from the 28 projects, FEC agreed that N144 billion be spent on Shaki-Okerete Road in Oyo State and N 83. 779 billion on the Buruku BrIdge in Katsina And Benue State.

Pres. Tinubu Okays Infrastructure Development Fund

One project —the 158 billion Biu- Kanga-Kana- Gaya road to the Niger Republic border- was stepped down by the council based on the minister’s request.

He said, “Today(yesterday) the Federal Executive Council considered and approved a total of 28 roads and bridges and stepped down one project. The project I requested that should be stepped down so that I can look at it again is the Biu, Kanga, Kana, Gaya to the border of Niger Republic costing about N158 billion.

“The other projects totalling 1.26 7 trillion, they were all approved by FEC having gone through the BPP(Bureau for Public Procurement) and we got the certification, no objection.

“Council also approved the Buruku bridge that is going across Katsina Ala River in Benue state, the bridge is a twin bridge that marches the dualised road there, and each of the bridge is about 850 meters. So put the two together is 1.7 kilometres and costs about N83.799 billion.

“There was also approval by FEC for a road- Shaki and Okerete- in Oyo. The road is 91.432 kilometres costing N144 billion.”

CBN Directs BDCs to Sell Dollar at N1,269

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Rhoda Onuzulike

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March 26, 2024

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The Central Bank of Nigeria has disclosed that it will be allocating $10,000 to each Bureau de Change operator at N1,251/$.

This was contained in a circular made available and signed by the bank’s Director, Trade and Exchange Department, Dr Hassan Mahmud on Monday.

The apex bank directed each BDC to sell the dollars to eligible customers at a rate not exceeding 1.5 per cent above the purchase price, implying the BDCs are not expected to sell above N1,269/$1.

On July 27, 2021, the CBN discontinued the sale of foreign exchange to BDCs, accusing them of trading FX wholesale amounts greater than $5,000, in contravention of their licences, and Nigeria’s FX regulations.

Earlier, The CBN announced its decision to sell foreign exchange worth $20,000 to each eligible Bureau de Change operator across the country in February.

CBN Begins Sales of Dollars To BDCs Operators

This comes more than two years after the suspended former CBN Governor, Godwin Emefiele, stopped the sales of foreign exchange to BDC operators.

The naira maintained a steady appreciation against the United States dollar on Monday, gaining N14 to close at 1,408/$ at the official market.

The circular read in part, “We refer to our letter to you referenced TED/DIR/CON/GOM/001/071 in respect of the above subject, wherein the CB approved a second tranche of the sale of FX to eligible BDCs.

“We write to inform you of the sale of $10,000 to each BDC at the rate of N1,251/$1. The BDCs are to sell to eligible end users at a spread of not more than 1.5 per cent above the purchase price.”

Last month, the CBN Governor, Olayemi Cardoso, outlined a comprehensive strategy aimed at curbing inflation, stabilising the exchange rate, and instilling confidence in the country’s banking system and economy.

Through last month’s Monetary Policy Committee meeting and a conference call with foreign portfolio investors, the central bank set expectations for sustained growth in the country’s foreign currency reserves and improved liquidity in the foreign exchange market.

“All the different measures we have taken to boost reserves and create more liquidity in the markets have started to pay off,” Cardoso said.

Analysts said that when a central bank enhances liquidity, it injects more money into the financial system, to help stabilise the foreign exchange market by providing more funds for buying and selling currencies.

‘Ounje Eko’: Sanwo-Olu Salutes Lagosians on Calm

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Rhoda Onuzulike

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March 26, 2024

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The Lagos State Governor, Babajide Sanwo-Olu, has noted the smooth conduct on Sunday at the Ounjè Eko Sunday markets.

For the second Sunday, residents trooped out to buy various items at 25 percent less than the usual market prices.

Many praised the government for the initiative, which they suggested should go on.

A statement by the Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, made it known that Sanwo-Olu received reports of calmness and orderliness at the various markets despite the huge turnout of residents.

The commissioner in the statement, quoted the governor as having said: “It is all about assuring Lagosians that our administration will continue to stand by them.

“We will continue to find and deploy creative ways of easing their burden.”

Discounted Food Markets Open Across Lagos Sunday

Governor Sanwo-Olu praised the Special Dispensation Advisory Committee on Social Interventions, an 11-man, non-partisan body set up to advise the government on various interventions, for its support on all the initiatives, which will soon be fully rolled out.

The “Ounje Eko” Market pilot scheme, which opened on March 17, 2024 in 57 centres across the five divisions of the State, is part of multi-sectoral measures rolled out by Governor Sanwo-Olu to cushion the effects of the economic hardship on Lagosians.

The market at its debut last week had some hitches, but most of the identified inadequacies have since been corrected.

On March 24, the situation was calm as prospective buyers were orderly.

Payment points ran smoothly at the cashless markets.

Reports gathered at various markets showed that sales started earlier than last week, as local food vendors arrived early to the delight of customers.

Although the prices of the products varied according to locations, residents were full of praise for the idea.

To prevent reselling, double-buying and ensure that all buyers were served, children who came with their parents were not allowed to purchase food items, while preference was given to the aged, expectant women and people living with disabilities.

On sale were rice, beans, pepper, bread, eggs, garri and others.

Hoarding Foodstuffs, Not Fair to Tinubu’s Govt. – Minister

By

Rhoda Onuzulike

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March 26, 2024

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Minister of Agriculture and Food Security, Senator Abubakar Kyari has said that traders hoarding food commodities and engaging in speculative trading are not fair to Tinubu’s Government.

This he said as he assured that the Federal Government is intensifying efforts to scale up food production in the country.

The minister stated this in Abuja at a Ramadan lecture organised by the SA to the President on Agriculture and Food Security, Mufutau Yinusa and the Asiwaju Project Beyond 2023, a major support group of the president during the 2023 presidential election.

Nigeria, Others Most Hit by High Food Inflation

The lecture had as its theme: “Gratitude, Patience and Vision: Embracing challenges with Optimism”.

The minister who decried the increasing cost of food items, said that apart from insecurity that has affected agricultural production, hoarding of foodstuffs has further exacerbated the situation in the country.

“Some of the problems we are facing is also man made, hoarding for instance and speculative trade by commodity traders is also very huge.

“We have seen and discovered some warehouses in big commodity areas where even gates are removed and walls built just to hoard food stuffs inside.

“So when you look at those things and say it’s Bola Tinubu, I think we are not being fair to the administration of this government.

“So we have to look inward, we all have a role to play,” he said.

Kyari said the Federal Government would continue to work round the clock to ensure food security for the nation, while addressing the insecurity challenge frontally.

Also, Minister of State for Agriculture and Food Security, Sen. Aliyu Abdullahi, in his goodwill message at the event urged Muslims to use the Ramadan period to pray for the nation and its leaders.

“We don’t have any country than Nigeria and President Ahmed Tinubu has said it times without number, he is here to make a difference and he wants everybody to support him,” Abdullahi said.

He reiterated the Federal Government’s commitment to working with relevant stakeholders to address the economic challenges facing the nation.

The SA to the President on Agriculture and Food Security, Mufutau Yinusa said the lecture was part of efforts to support the current administration and reach out to the grassroots.

The Director-General, Asiwaju Project Beyond 2023, Barr. Realwan Okpanachi expressed optimism that Nigeria will soon surmount its challenges looking at the track records and experience of President Bola Tinubu.

Pres. Tinubu Okays Infrastructure Development Fund

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Rhoda Onuzulike

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March 26, 2024

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President Bola Tinubu has approved the Renewed Hope Infrastructure Development Fund to bridge the country’s $25bn per annum infrastructure funding gap.

The new initiative will be domiciled in the Presidency, the Minister of Information and National Orientation, Mohammed Idris, told journalists after Monday’s Federal Executive Council meeting at the Presidential Villa, Abuja.

According to the minister, the fund became necessary given Nigeria’s current infrastructure gap, requiring $878bn to bridge between 2016 and 2040.

“Now, there is a study that was made that said Nigeria will require about $878bn between 2016 and 2040 to bridge its infrastructural deficit.

“What that means is that from 2016 to 2040, about $25bn will be required annually to bridge that infrastructure deficit.

“Therefore, Mr President, in his wisdom and with the approval of the Federal Executive Council, today, approved the setting up of the Renewed Hope Infrastructure Development Fund to be domiciled in the Presidency,” he announced.

Giving further details about the new development, Chairman of the Federal Inland Revenue Service, Zacch Adedeji, said the fund would focus on road, rail, agriculture, ports and aviation.

He explained that the fund will be launched only after the Minister of Budget and Economic Planning, Abubakar Bagudu, prepares a supplementary budget to accommodate the new spending.

“Our key strategic focus, for now, will be on road infrastructure, rail infrastructure, agricultural infrastructure, port revitalisation and aviation enhancement.

“We believe this vehicle will be a major outside-the-box solution to our infrastructure gap. And we believe, hopefully, by the special grace of Almighty God, that Mr President will launch this fund after the Minister of Budget and Economic Planning has done the supplementary budget to take care of all these critical projects.

“So, we look forward to the next few months when the fund will be launched. And then it will be domiciled in the Presidency,” said Adedeji.

Meanwhile, the Presidency had highlighted four objectives of the Renewed Hope Infrastructure Development Fund (RHIDF).

A statement signed by the Special Adviser to the President on Media and Publicity, Ajuri Ngelale, stated the fund would be invested in critical national projects that would, among other things, promote growth, enhance local value-addition, create employment opportunities, and stimulate technological innovation and exports.

The statement titled ‘President Tinubu approves renewed hope infrastructure development fund’, noted, “Establish an innovative infrastructure investment vehicle to attract and consolidate capital, serving as a dynamic driver for economic advancement.

Infrastructure Bank Commits N13b to Cushion Subsidy Removal

“Execute strategic and meticulously chosen national infrastructure projects across several key sectors, including road, rail, agriculture (irrigation, storage, logistics & cold chain), ports, and aviation, among others.

“Efficiently utilise and aggregate accessible low-interest loans such as concessionary loans and Eurobonds, supplemented by the procurement of other favourable financing options, in addition to budgetary allocations.”

It is also designed to “guarantee Nigeria secures the most advantageous arrangements for financing, construction, and subsequently, operation and maintenance of the identified projects, ensuring optimal long-term outcomes for the nation”.

According to the Presidency, the fund will also identify appropriate approaches in its investment strategy, such as direct project financing through budgetary allocations and SPVs, co-financing (public-private partnerships) with key institutions, multilateral development institutions, as well as equity investments.

On agricultural infrastructure and food security, the Presidency said the emphasis would be on the development of robust agricultural infrastructure networks.

“This encompasses the establishment of national food storage facilities, integrated irrigation systems, ranching for animal husbandry, and the enhancement of agricultural logistics and distribution,” it noted.

On port revitalisation, the strategic thrust revolves around the rejuvenation of port facilities and associated infrastructure to streamline operations and enhance the ease of doing business.

According to the Presidency, by modernising port facilities and implementing advanced monitoring systems, the goal is to optimise efficiency, attract investments and bolster Nigeria’s position as a regional trade hub.

LCCI Commends Move on Cost of Governance Review

By

Rhoda Onuzulike

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March 26, 2024

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The Lagos Chamber of Commerce and Industry has expressed satisfaction on the recent actions taken by the Federal Government to cut the cost of governance in Nigeria.

This is contained in a press statement signed by the Chamber’s Director General, Dr Chinyere Almona, on Monday.

LCCI specified that it particularly commended the government’s decision to reduce the number of public officials on foreign trips and the recent directive to suspend all public-funded foreign trips for government officials, effective April 1, 2024.

Almona stressed: “These measures, by effectively managing the cost of governance, are a positive step towards a more economically stable Nigeria.

“Considering the current economic challenges facing our nation, including soaring inflation and high living costs exacerbated by the removal of petrol subsidies and forex market crises, the government must take decisive action to cut unnecessary expenses and even reduce statutory expenditures, where possible.

Start cut of governance cost from the executive – Reps

“The decision to temporarily halt public-funded foreign trips aligns with the urgent need to prioritise cost-saving measures without compromising the effectiveness of governance”.

LCCI also acknowledged the government’s concern about the rising cost of travel borne by Government’s Ministries, Departments, and Agencies (MDAs), adding that with the suspension, the government could redirect valuable resources towards more pressing priorities, including infrastructure development, social welfare programs, and economic stimulus initiatives.

The statement said: “The government at all levels and tiers should initiate similar actions to cut the cost of governance within their jurisdictions. For instance, the Abia State Governor, Dr. Alex Otti, recently signed the Abia State of Nigeria Governors and Deputy Governors Pension Repeal Law of 2024, stopping the payment of pensions to ex-governors and their deputies in the State. This action is worth emulation by other states and the Federal Government.

“We strongly urge the Federal Government and States to make public the amount of funds rescued from these cost-cutting initiatives. This commitment to public accountability will reassure citizens and companies, fostering a sense of trust and confidence in the government’s financial management.

“We also encourage fiscal transparency, including the exact figures allocated to statutory transfers in the government budgets and amounts allocated for constituency projects undertaken by legislators in the National Assembly. These disclosures can inspire citizens and companies to pay their taxes with a deep commitment to contributing to the commonwealth of our nation”.

Almona disclosed that LCCI envisions the rescued funds being invested in projects that promote cost-efficiency and automation, adding that one such strategic initiative could be the allocation of rescued funds towards the automation of virtual platforms within each ministry.

“This investment, by enabling remote training and participation in meetings, can significantly reduce the need for costly international travels. This shift towards virtual engagement not only reduces operational expenses but also enhances efficiency and productivity across government agencies. We believe in the potential of these initiatives to inspire and support a more cost-efficient and effective government.

“Summarily, the Lagos Chamber of Commerce and Industry commends the government for this decisive action in suspending public-funded foreign trips and urges all stakeholders to support efforts aimed at fostering responsible fiscal management and driving inclusive growth in Nigeria” Almona restated.