Tinubu's ₦155 billion grocery giveaway
Hi!
Yesterday was a bit of a mess. I’d tell you about it but this isn’t that kind of newsletter 👀.
This edition was written by Nafisat Abdulrahman, and edited by Adetomiwa.
In this episode:
Tinubu’s Presidential Aircraft
World Bank's $45 Million Digital ID Drama
NELFUND Is giving red, yellow and green light
Nigeria has run out of cholera vaccines
Government Expenditures
Tinubu’s Presidential Aircraft
Last week, we reported that the special adviser on information and strategy to the president, Bayo Onanuga and Peter Obi exchanged words about the president’s plans to buy a new presidential airplane. Bayo Onanuga said Peter Obi telling them to read the room means he wants the president dead.
The Senate has chimed in.
The Senate President said that there have been reports that the National Assembly would approve the purchase of new aircraft for the President and Vice President. He says it’s simply not true
On the other hand, the House of Representatives Committee on National Security and Intelligence is singing a different tune. They think our current presidential plane is on its last legs and reckon it’s too risky to use.
Lowkey the presidency probably already bought the planes. I bet all this is just for show
Meanwhile, the FG has spent N14.77 billion on repairing and maintaining the presidential air fleet over the past 11 months
It’s raining disbursement
Tinubu's ₦155 Billion grocery giveaway
President Tinubu has just greenlit a ₦155 billion spree on food items to be spread across the country.
According to presidential spokesman Ajuri Ngele, Tinubu is all about easing our hardships. His message? "I'm here to make sure no Nigerian goes through tough times." The big plan? The National Construction and Household Support Programme is rolling out to support all states in the country.
Tinubu also approved a ₦50,000 uplift grant to 100,000 families per state for three months.
Discussing his interest in boosting food production, the President noted that the Sokoto-Badagry Highway is a pivotal project as the highway is within the food belt of the nation, and close to Badagry, which is an important artery for food export.
Loan/Grants
World Bank's $45 Million digital ID drama
The World Bank has given $45 million to Nigeria’s National Identity Management Commission (NIMC) under the Digital Identification for Development project
According to the World Bank, Nigeria was able to access the funds by passing into law the Nigerian Protection Act in June last year.
Part of the deal was that Nigeria would provide 148 million citizens with an NIN by the 1st of June 2024.
The June 1 deadline has passed and Nigeria is still lagging. NIMC recently disclosed that 107.3 million NIN had been issued as of April this year.
The World Bank described the progress of the project so far as ‘moderately satisfactory’.
More chaos: Paradigm Initiative, a Pan-Africa social enterprise raised red flag.
Last week, we reported the organisation’s discovery of a website selling Nigerian NINs.
NIMC says it's a lie, there’s no data breach and no website is authorised to sell NINs or personal data.
Economy
$24 Billion FX surge in early 2024
Olayemi Cardoso, the Governor of the CBN says the country recorded a total foreign exchange inflow of approximately $24 billion in the first quarter of 2024. This figure represents a 50% increase compared to inflows recorded since 2021.
Cardoso highlighted that the bank's policy measures have started to alleviate inflationary pressures, which have been a concern.
He reassured the public that the Monetary Policy Committee members remain vigilant in monitoring inflation trends and are committed to moderating inflation.
According to Cardoso, the rise in foreign exchange liquidity in the first quarter of 2024 is the highest seen in any quarter since 2021.
Nigeria's oil woes
Nigeria has taken a massive hit, losing about N636.3 billion in revenue due to a dip in oil production. The oil output has been slipping since January 2024.
According to the Nigerian Upstream Petroleum Regulatory Commission, Nigeria went from producing 44.22 million barrels in January to just 38.8 million barrels in May.
So, what's causing this oil slump? Crude oil theft and pipeline vandalism.
It's gotten so bad that the NNPC boss is practically begging the judiciary for help. He’s looking for some legal muscle to tackle these issues so the oil and gas industry can finally live up to its potential and power the economy.
Thankfully, the Nigerian Army is on a mission to squash criminals vandalising crude oil installations.
$15.55 Billion debt service saga
According to the CBN, the FG has shelled out $15.55 billion on debt servicing between 2019 and 2024.
Let’s break it down: in 2019, Nigeria paid $588.33 million in debt service between January and May. In 2020 that figure skyrocketed to $5.40 billion.
The United States credit rating agency, Fitch Ratings, predicts that our external debt servicing will reach $5.2 billion next year.
The CBN’s International Payments Data confirms that 2020 was the year we spent the most on debt financing— $5.40 billion.
And what’s the game plan? The principal objective is to boost non-oil revenues while safeguarding our precious oil and gas earnings.
Salaries and Wages
Minimum wage drama
The Federal Executive Council (FEC) has decided to hold off on deciding the minimum wage by withdrawing its memo on the topic.
According to FEC reps, the council realised that they need to get more input from other stakeholders before finalising the new minimum wage.
The Head of Public Relations of the Nigeria Labour Congress, Benson Upah, said withdrawing the memo “creates room for injurious speculations”.
The last we heard of it, the NLC proposed N250,000 as the minimum wage, the FG countered with N62,000.
The NLC rejected this counter, so the FG went back to deliberate a more favourable number.
There is no news on when they intend to present this new number.
ASUU stands firm: No to IPPIS
ASUU is demanding exemption from IPPIS (Integrated Payroll and Personnel Information System) and has asked the FG to fulfil agreements made in 2009.
ASUU says IPPIS will lead to more salary delays and inconsistencies for university lecturers.
According to reports, the government has failed to meet the union's demands regarding the 2009 renegotiation agreements with the national body of ASUU, as promised.
The agreements include removing ASUU from IPPIS, paying outstanding academic allowances, providing a revitalisation fund, paying promotion arrears, and settling withheld salaries.
Reports say the FG has not honoured any of these agreements. Since the last suspended strike in October 2022.
ASUU says if the promises are not fulfilled, they will start another nationwide strike.
However, to avoid another academic shutdown, the FG and ASUU had a closed-door meeting.
ASUU President Emmanuel Osodeke confirmed that negotiations had begun and expressed hope that the FG would stick to their end of the deal.
Education
NELFUND Is giving red, yellow and green light
The yellow and red lights
The Nigerian Education Loan Fund (NELFUND) announced they're pausing student loan applications for state institutions for 14 days.
Why? They need all state schools to get their act together and submit complete and accurate info to avoid hiccups.
The application window was set to open on June 25, 2024, but NELFUND says it will now open on July 10, 2024.
NELFUND reps say the extension is to allow state institutions to submit more student data, which will give more students the ability to apply for student loans.
So far, only 20 state universities out of 48 12 state colleges out of 54, and 2 state polytechnics out of 49 have completed the data submission process.
The green light
NELFUND has approved the disbursement of loans to successful applicants as decided in their inaugural meeting on Wednesday.
Spokesperson Nasir Ayitogo announced that over N35 billion will be paid to 70,000 students from federal government-owned institutions in the first phase.
Successful students will receive a monthly stipend of N20,000.
Infrastructure
FAAN launches armed security unit at Lagos airport
The Federal Airports Authority of Nigeria (FAAN) has launched an armed Aviation Security (AVSEC) unit to tackle touting and criminal activities.
Minister of Aviation and Aerospace Development, Festus Keyamo noted that this new squad is on a mission to arrest and prosecute any miscreants causing trouble within the airport premises.
Keyamo emphasised that this move is part of the ongoing efforts to curb illegal activities and ensure safer travel for all.
Keffi Custodial Centre's big move
The ancient Medium Security Custodial Centre in Keffi, Nasarawa State is moving. During an inspection, Interior Minister Dr. Olubunmi Tunji-Ojo noted that the prison is overcrowded: 750 inmates crammed into a space meant for 340, with 605 still awaiting trial. The current Keffi centre is also surrounded by civilian homes, making it a prime candidate for relocation.
To resolve this, the minister is working on a new 3,000-capacity facility in Karshi, Abuja.
Tunji-Ojo emphasised the shift from prisons to correctional centres, focusing on transformation, not just incarceration.
Plus, they're beefing up perimeter security to avoid any Suleja-like incidents. So, here's to safer, less crowded correctional centres.
Tinubu’s big boost: roads, rails, and relief
President Tinubu has just given the green light to the National Construction and Household Support Programme, covering every nook and cranny of Nigeria. During the 142nd National Economic Council meeting,
Tinubu emphasised boosting agriculture, manufacturing, and construction, aiming to provide economic relief for Nigerians.
Key projects include the Sokoto-Badagry Highway, Lagos-Calabar Coastal Highway, and multiple railway upgrades. Plus, a one-off N10 billion allocation for buses, N50,000 grants for families, and N155 billion for foodstuff distribution.
Shoprite Is closing wuse mall
The Wuse, Abuja branch of Shoprite is shutting its doors on June 30,2024 because the business climate has not been favourable.
CEO Dr. Folakemi Fadahunsi broke the news, saying the decision came after a deep dive into the store’s financial health.
This closure is part of a trend, with big names like GSK and Procter & Gamble also packing up due to Nigeria's economic rollercoaster.
Health & Safety
Nigeria has run out of cholera vaccines
The latest cholera outbreak has claimed 40 lives, and the country has run out of vaccines.
The Nigeria Centre for Disease Control (NCDC) is on the hunt for more vaccines from donor agencies, but no delivery date is set yet.
The NCDC is urging everyone to focus on preventive measures like proper sanitation and hygiene to curb the spread.
Since 2021, the numbers have been grim with over 4,364 deaths out of nearly 140,000 suspected cases.
The Lagos State Ministry of Health has reported 29 deaths and 579 cases since the cholera outbreak began.
The Federal Government has called on Nigerians to avoid locally made drinks such as kunu, zobo and fura to prevent cholera disease.
The NCDC also advised to drink loads of clean water as dehydration is the major cause of cholera complications
On food security
According to a United Nations Children’s Fund on child nutrition, Nigeria and 19 other countries are home to 65% of the world's children facing severe food poverty
The report showed that globally, 27% of children are living in severe child food poverty in early childhood, amounting to 181 million children under five years of age, but in Nigeria, it's even worse at 32%.
It also found that the global food and nutrition crisis, localised conflicts, and climatic shocks are intensifying severe child food poverty, especially in fragile and humanitarian settings.
UNICEF is calling on governments to step up and invest in nutritious diets for children to help break the cycle of poverty.
Climate, Disaster & Environment
Heatstroke death toll in Makkah hits 1,301
The heatwave in Makkah has claimed the lives of 1,301 pilgrims due to heatstroke, prompting Saudi authorities to deploy extensive preventive measures.
Health Minister Fahd Al-Jalajel confirmed that most of the deceased were unauthorised pilgrims who lacked adequate shelter from the intense heat.
In response, Saudi Arabia has ramped up its healthcare efforts, offering over 465,000 specialised treatments and 1.3 million preventive services.
The Kingdom’s actions include increasing the availability of cooling stations, distributing hydration packs, and setting up medical tents equipped to handle heat-related illnesses.
Kwara’s green crisis: post-Zimbabwean farmers’ exit
Remember those white Zimbabwean farmers invited in 2004 to revolutionise agriculture? Well, they’ve packed up and left, and the aftermath isn't pretty. Here’s what to know👇🏽
Deforestation and land degradation are the new norm, leaving local farmers scratching their heads over infertile land and dwindling crop yields.
The food crisis is worsening, flooding is up, and the women, who once thrived on economic trees, are feeling the pinch.
The locals are shouting out for government help to bring back the green.
Crime and Insecurity
Police nab Ekiti killers
The Ekiti State Police just busted three suspects linked to recent Ado-Ekiti killings.
They also nabbed Omotuyi Temitope, the brains behind the 2012 Ado-Ekiti jailbreak. These suspects, from rival cult groups, confessed to all sorts of mayhem, including murder and robbery.
Temitope, who had a previous stint in a UAE murder case, was caught chilling at a hotel. The police are still on the hunt for other gang members.
Bandit protection
So, here’s a head-scratcher for you: Dogo Gide, a well-known bandit leader, has strolled into Magami community in Zamfara, promising to protect residents and farmers.
While some locals are cautiously optimistic, others are scratching their heads, wondering if this is just a bandit PR stunt, because what in the name of audacity is this?
Residents of Dansadau are particularly jittery, remembering past failed deals with bandits. Authorities are now trying to figure out what Gide’s real game plan is.
332 farmers killed amid rising food inflation
Terrorists have killed 332 farmers this year, mainly in the northern regions of Nigeria:
Places like Plateau and Katsina States have seen about 50 farmer deaths each.
This violence is hitting hard alongside skyrocketing food inflation, which shot up to 44.66% in May.
With 16% of Nigerians facing severe food insecurity, the military is upping their game to protect farmers and ensure food production doesn’t take a nosedive
Fraud
Adeyemi Ikuforiji discharged
Former Speaker of the Lagos State House of Assembly, Adeyemi Ikuforiji, and his former PA, Oyebode Atoyebi, were discharged and acquitted on Monday.
The Federal High Court in Lagos ruled that the EFCC couldn’t prove their N338.8m money laundering case beyond a reasonable doubt.
The saga started back in 2012 with 20 charges, but Justice Liman wasn’t convinced.
Ex-State governors are fighting the courts
El-Rufai is suing his state
Former Kaduna State Governor, Nasir El-Rufai, is taking the state government and House of Assembly to court. He’s not happy about their report accusing him of mishandling funds.
The lawmakers claim El-Rufai mismanaged around N423 billion from loans during his time as governor from 2015 to 2023. They say the money wasn’t used as intended and procedures were skipped.
On Wednesday, El-Rufai filed a case at the Federal High Court in Kaduna, arguing that his rights were violated because he wasn’t given a fair hearing.
His lawyers said El-Rufai is seeking justice as a Nigerian citizen, highlighting his right to a fair hearing under the Nigerian Constitution and the African Charter on Human and Peoples Rights.
Yahaya Bello be doing wonders
Former Kogi State Governor Yahaya Bello, facing charges of money laundering and misappropriation of N80.2 billion, missed his scheduled court appearance in Abuja on Thursday. Instead, he sent a letter through his legal team requesting the trial be moved to the Kogi High Court in Lokoja, citing territorial jurisdiction.
African News
Kenyan President William Ruto announced that he’s pulling the plug on the contentious finance bill after it sparked massive protests and some serious chaos, including 20+ deaths and a parliament ransacking.
The protests were initially peaceful but turned nasty when lawmakers passed the bill. Things got really heated with police firing live rounds and parliament literally going up in flames.
The Kenya National Commission on Human Rights reported 22 deaths and 300 injuries. They're launching an investigation.
The government argued the tax hikes were essential to pay off Kenya's enormous debt, which is about 70% of the GDP. But, the public didn’t buy it, and now Ruto’s got to find another way to balance the books.
Other News
50 lawmakers from various political parties asked Tinubu to release Nnamdi Kanu from detention and discontinue his trial. The timing couldn’t be more interesting. Last week, the leader of IPOB expressed his wish to settle his treason charges out of court - Premium Times
The Oyo State government is on a mission to reduce unemployment, and they’re starting with the recruitment of 7,000 teachers for public primary schools. Interested parties can apply through the state application portal - Punch
Senior Customs officer, Etop Andrew Essien, collapsed and passed away while responding to questions at the Public Accounts Committee of the House of Representatives on Tuesday, June 25 - Vanguard
A group of protesters stormed the National Medical Services Laboratories in Pennsylvania, the United States over the outcome of a toxicology test reportedly conducted in the facility to determine the cause of the death of the late Nigerian singer, Mohbad - Punch
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