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Experts seek proper implementation of FG’s N500bn fiscal stimulus package

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Financial experts on Tuesday said the N500 billion fiscal stimulus package of the federal government would mitigate heightened risks posed by COVID-19 to the economy if properly implemented.

The experts spoke with Our Correspondent in Lagos on the N500 billion fiscal stimulus package announced by the Federal Government in response to the COVID-19 pandemic.

Uche Uwaleke, Professor of Finance and Capital Market at the Nasarawa State University Keffi, commended the federal government for introducing the N500 billion fiscal stimulus package announced by the Minister of Finance, Budget and National Planning in response to the COVID-19 pandemic.

Uwaleke said, if well implemented, the fiscal stimulus package, together with the palliatives already announced by the Central Bank of Nigeria (CBN), would subtantially mitigate heightened risk posed by the pandemic to public health and the economy.

“This package which includes about N102 billion direct intervention to State governments as well as for the improvement of health facilities nationwide, will go a long way in the provision of critical health infrastructure required to fight the disease including intensive care units, personal protective equipment, ventilators and so on.

“It is cheering news that the government has also made provision for the enhancement of hazard allowance including insurance of health workers especially those on the frontline,” he stated.

He added that the activation of the Finance Act 2020, which granted tax concessions and waivers to Small and Medium Enterprises was a welcome development.

“However, granted that the Finance Act has widened exemptions with respect to VAT, the federal government should consider postponing the implementation of the VAT increase till the crisis is over just as was done in the case of new electricity tariffs.

“The government needs every kobo it can raise in order to provide these palliatives.

“This is why the government’s effort to take advantage of a COVID-19 concessional rapid credit facility, at zero interest rate, from the International Monetary Fund should be supported as other countries like Rwanda and Mozambique have done so,” Uwaleke said.

Also speaking, Prof. Sheriffdeen Tella, Professor of Economics, Olabisi Onabanjo University, Ago-Iwoye, Ogun State, commended the N500 billion fiscal stimulus package, saying that it was directed largely at health sector expenditure.

Tella stated the fiscal stimulus would complement the donations made by wealthy Nigerians, corporate bodies and financial institutions to tackle the effect of the pandemic.

“One aspect I have not heard from allocations from all these sources is how much is voted for research; for a medical research institution like the one in Oshodi, Lagos,  towards contributions to finding global solutions to the COVID-19. There is the need to be explicit on this.

“Also, intervention to firms producing hand gloves, facial masks and other medical attires, specifically for the pandemic have to be clearly stated so that the public can appreciate efforts at providing for and protecting medical personnel,” Tella said.

Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., said economic crisis was at hand with the coronavirus outbreak since December 2019.

“Our delay as a nation in putting preventive measures earlier will cost us a lot to curtail the spread and manage the effects on the economy.

“The ongoing economic palliative of food sharing, transfer of money to the poor will not have impact on economic recovery or growth.

“The N500 billion intervention fund is a welcome development for managing the spread of virus and post coronavirus economic recovery if effectively utilised,” Omordion stated.

He noted that the intervention funds and palliatives should be targeted at critical sectors of the economy such as agriculture, manufacturing and healthcare, among others to ensure quick recovery.

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“Nigeria’s Biggest Ever Coalition, Civil Groups, Professionals, Labour, Artisans, Declare for Bola Tinubu”

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In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.

The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.

The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.

In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.

Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.

Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.

As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.

Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.

In what is being described as an unprecedented political development ahead of the 2027 general elections, a broad-based national coalition cutting across civil society organisations, professional bodies, labour groups, artisan associations, and other grassroots networks has announced plans to formally endorse President Bola Ahmed Tinubu for a second term in office.

The coalition, spearheaded by the Coalition of Civil Society Organisations in Nigeria, COCSON, now extends far beyond the traditional civic space, bringing together over 1,500 groups from diverse sectors of the Nigerian society. Participants include human rights organisations, medical and legal professionals, trade and artisan unions, community-based organisations, and influential labour leaders, reflecting a wide national spread and multi-sectoral backing.

The historic convention is scheduled to hold on May 17, 2026, where leaders and representatives of the various groups are expected to converge in what organisers say will be the largest endorsement gathering in Nigeria’s history. The event will serve as the official platform for the coalition to collectively declare support for President Tinubu’s re-election bid.

In a major demonstration of grassroots mobilisation, the coalition also revealed plans to submit a compiled total of 20 million signatures of Nigerians who have endorsed the President’s candidacy. The signatures, gathered through extensive nationwide engagement, are being positioned as a clear indication of public support cutting across regions, professions, and social strata.

Organisers of the event stated that the decision to back President Tinubu is driven by what they described as tangible strides in economic reforms, governance, and national stability. They emphasised that the inclusion of non-traditional actors such as artisans, market groups, and labour unions underscores a broader national consensus that transcends the usual civil society framework.

Political analysts say the scale and diversity of this coalition mark a significant shift in Nigeria’s political landscape, where support structures are no longer confined to political parties and elite stakeholders but are increasingly driven by a fusion of grassroots and professional constituencies.

As momentum builds towards the May 17 convention, observers are keenly watching how this expansive alliance will shape political narratives and influence voter sentiment in the lead-up to the 2027 elections.

Further details on the convention and breakdown of participating groups are expected to be unveiled in the coming days.

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How ISWAP killed Army Col. Six others in Borno.

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☆☆☆As Troops Foil Series of Ambushes.

Troops of the Nigerian Army under operation Hadin Kai have foiled a series of ambush by suspected members of the Islamic State West Africa Province (I SWAP) terrorist along the Monguno in Borno state.

Islamic state of West Africa province (ISWAP) have attacked the Nigerian army from Monguno 242 Battion Barrack in Borno State on their way to reinforce the camp.

A serving Nigerian Army Colonel was  reportedly  killed in an ambush by  insurgents in Monguno, Borno State, during a reinforcement mission

Source added said that colonel I.A. Muhammad was ambushed by ISWAP and killed along with four other soldiers.

Community confirmed that the troops who were on a fighting patrol as part of operation,came under fire from suspected terrorists 

As of the time of felling this report, there has been no official statements from the Nigerian Army regarding the accident.

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Dogara Felicitates Dangote at 69, Applauds His Enduring Impact on Africa

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Hon. Yakubu Dogara, former Speaker of the House of Representatives and Chairman of the Credit Guarantee Company Limited (NCGC), has joined Nigerians and the global business community in celebrating Alhaji Aliko Dangote on his 69th birthday. In a detailed tribute, Dogara described Dangote as “a visionary whose life’s work has become a cornerstone of Africa’s economic transformation.”

Dogara emphasized that Dangote’s entrepreneurial journey is one of resilience and foresight. From humble beginnings, he built the Dangote Group into Africa’s largest conglomerate, with investments spanning cement, sugar, salt, fertilizers, and the landmark Dangote Refinery. These ventures, Dogara noted, have not only revolutionized industries but also created millions of jobs, strengthened Nigeria’s economy, and reduced dependence on imports. “Alhaji Dangote is not just an entrepreneur; he is a nation-builder whose vision has redefined what is possible for Nigeria and Africa,” Dogara said.

He pointed out that the Dangote Refinery, in particular, represents a turning point in Nigeria’s energy sector, offering the promise of self-sufficiency in petroleum products and positioning the country as a major player in global energy markets. “This singular achievement underscores his commitment to solving Africa’s most pressing challenges through bold and innovative solutions,” Dogara remarked.

Beyond his industrial empire, Dogara praised Dangote’s philanthropy through the Dangote Foundation, which has invested heavily in healthcare, education, and humanitarian relief. From building hospitals and funding scholarships to providing aid during crises, Dangote’s generosity has touched countless lives across the continent. “His philanthropy reflects a deep commitment to humanity. He has shown that true greatness lies not only in building industries but also in uplifting lives,” Dogara added.

Dogara also reflected on the inspirational power of Dangote’s story, stressing that his rise from modest beginnings to global prominence serves as a beacon of hope for young Africans. “His journey proves that with hard work, faith, and determination, Africans can build enterprises that rival the best in the world. He remains a shining example of African excellence,” he concluded.

As Dangote celebrates his 69th birthday, his legacy continues to resonate far beyond Nigeria’s borders. His life stands as a testament to the transformative power of vision, enterprise, and compassion—an enduring reminder that Africa’s future can be defined by innovation, resilience, and generosity

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