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Nigeria can’t grow economically without electricity – Rewane warns

Economic expert and Managing Director of Financial Derivatives Company Ltd, Bismarck Rewane, has emphasised the need for Nigeria to resolve its lingering power supply issues, saying that continued outages pose a significant threat to national economic growth. Rewane stated this on Tuesday, when he appeared on Channels Television’s ‘Business Morning’. Rewane stressed the impact of
Nigeria can’t grow economically without electricity – Rewane warns

Economic expert and Managing Director of Financial Derivatives Company Ltd, Bismarck Rewane, has emphasised the need for Nigeria to resolve its lingering power supply issues, saying that continued outages pose a significant threat to national economic growth.

Rewane stated this on Tuesday, when he appeared on Channels Television’s ‘Business Morning’.

Rewane stressed the impact of electricity instability on Nigeria’s Gross Domestic Product, GDP, especially in key economic hubs like Lagos and Ogun states.

“There is the opportunity cost, and there is a cost. The cost is that Lagos and Ogun states may constitute about 30% of Nigeria’s GDP. So, if you’re going to have one month of power outage, the impact is effectively one-twelfth of 30%—which is significant,” he said.

According to him, Nigeria’s power challenges are deeply rooted and multi-dimensional, citing issues such as cultural barriers, tariff imbalances, underinvestment, and debt forbearance within the sector.

“You cannot grow the economy with what we’ve seen today without a broad power solution. If there is a power outage in Nigeria, it must be resolved—no question. You can’t put a Band-Aid on it. It has to be done, and it has to be done now,” he added.

Speaking on economic performance, the expert explained that Nigeria’s GDP currently stands at approximately $2.45 billion, with a 3.13% growth recorded in the first quarter of the year.

He also observed shifts within the economy, noting that manufacturing’s contribution has declined, while agriculture has grown in visibility, and the service sector remains the primary driver of economic activity.

Weighing in on oil refining, Rewane explained that the global refining industry is increasingly hub-centered, and that refineries operate on high volume but low margins.

Nigeria can’t grow economically without electricity – Rewane warns

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Ebonyi aviation ministry to train staff ahead of airport commissioning – Obichukwu

The Ebonyi State Commissioner for Aviation and transport technology, Mrs Ngozi Obichukwu said the ministry has concluded plans to embark on training at Chuba Okadigbo international Airport for staff and commissioning of airline traffic lights. Obichukwu who spoke to newsmen in Abakaliki on Tuesday shortly after visiting the Ebonyi State House of Assembly committee on
Ebonyi aviation ministry to train staff ahead of airport commissioning – Obichukwu

The Ebonyi State Commissioner for Aviation and transport technology, Mrs Ngozi Obichukwu said the ministry has concluded plans to embark on training at Chuba Okadigbo international Airport for staff and commissioning of airline traffic lights.

Obichukwu who spoke to newsmen in Abakaliki on Tuesday shortly after visiting the Ebonyi State House of Assembly committee on public account, lauded the unwavering commitment of the governor, Francis Nwifuru to get the airport working efficiently.

She said: “I am always encouraged when they invite us like this.It tells us that we have monitors.It tells us that we ought to be prudent and transparent.It tells us to be cautious of people watching what we are doing.

“And fortunately today, we came. They equally agreed with us and even said it by themselves that aviation is one of the most complex capital intensive ministry.

“We may not be reaping what we are sowing now, but it will gradually come.And from the interaction we had with them, they are pleased with what we are doing at the aviation.And they are encouraging us to continue, especially the issue of flight movement.

“That the flight movement is helping to advertise the airport.And I thank God for that.I am equally grateful to His Excellency who has doggedly determined to ensure that the airport works. We are the supervising ministry and we are making sure that the airport does not fail.

She noted further that: “Very soon, we will be having our training.Very soon, we will be commissioning the airline traffic lights. That has made us not to be flying in the night. Once the installation is done, we will now have flight operation in the evenings as well.

Speaking on the Ebonyi Airline PLC, CAC registration, she said: “Yes,CAC pertains to the Ebonyi Airline PLC.Without the CAC and the board members that are working for the airline,we may not be able to have what we call the air transport license.

“The CAC includes the CAC of the board members as well. We have the Rice World CAC.We have the ICT CAC.And then, those of us that are not company, we must have to show our payee, pay as you earn tax for 33 years.All these things are fund intensive.

“But I thank our dear Governor, Francis Nwifuru,once he is determined to do something, nothing stops him. We have gone ahead to get all the CACs that are required.And now we are heading for the air transport license.

“Once the air transport license comes in, the next thing is the airline, the aircraft.That means the aircraft will soon be ready?Not that the aircraft is already ready, wherever it is.But once the rudiments and all the activities, all the requirements, all the documentation, which are currently ongoing.

“We just concluded with the DSS and the Secretary of the Federation, SGF.We are now ready to be issued the license to enable the purchase.And to procure an airline is not like buying ordinary refrigerator from any market.

“There are other ways to go with it.Like if we see the airline, we have professionals from FAN, NCAA and all the rest of them, that will now go and monitor to ensure that the aircraft is good” she said.

Ebonyi aviation ministry to train staff ahead of airport commissioning – Obichukwu

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Nigerian govt still working to rescue Chibok Girls, Leah Sharibu – NCTC-ONSA

The Federal Government and security forces have not given up hope on securing the release of the Chibok girls and Leah Sharibu. Maj.-Gen. Adamu Laka, National Coordinator, National Counter Terrorism Centre, Office of the National Security Adviser, NCTC-ONSA, stated this while briefing newsmen on the activities of the Multi-Agency Anti-Kidnap Fusion Cell in collaboration with
Nigerian govt still working to rescue Chibok Girls, Leah Sharibu – NCTC-ONSA

The Federal Government and security forces have not given up hope on securing the release of the Chibok girls and Leah Sharibu.

Maj.-Gen. Adamu Laka, National Coordinator, National Counter Terrorism Centre, Office of the National Security Adviser, NCTC-ONSA, stated this while briefing newsmen on the activities of the Multi-Agency Anti-Kidnap Fusion Cell in collaboration with the United Kingdom National Crime Agency on Tuesday in Abuja.

DAILY POST recalls that 276 girls were kidnapped in April 2014, from the Government Girls Secondary School in the town of Chibok in Borno, with 87 still in captivity 11 years after.

About 189 others have regained their freedom at different times, either through rescue operations by the military or escaped from the terrorists’ den.

On the other hand, Sharibu and 109 other girls were abducted from the Government Girls’ Science and Technical College, GGSTC, in Dapchi in Yobe on February 19, 2018.

Laka, while responding to questions from newsmen, explained that the government has not forgotten the victims, adding that several of the girls had been rescued by security forces, though, not just at one time.

“Since when they were kidnapped, those who were rescued were not just rescued one time, It was a gradual process. Negotiations were done, trying to get them out. Operations were conducted.

“Luckily, at the beginning of that, towards the year after they were kidnapped, I was in the theatre, and I know what the military and intelligence agencies put in to rescue the initial set of the Chibok girls.

“We have not given up hope on them, some of them were married to some of the insurgents. Some have come out. But let our focus not only be on the Chibok girls because there are others that have been kidnapped.

“There were aid workers that were kidnapped. We have rescued some that are working for UNICEF, UNHCR and IOM and so on.

“So, we have not relented on our efforts. We are not always talking about it. It doesn’t mean we don’t care. It doesn’t mean we have forgotten about them. We are still on it.

“Our prayer is that the whole 87 or 80 plus that are left will be rescued. By God’s grace,” he said.

The UK Deputy High Commissioner to Nigeria, Gill Levers, condemned the recent killing of 33 kidnap victims by bandits in Banga town in Kaura Namoda Local Government Government Area of Zamfara.

Levers described kidnapping as an “unspeakable crime” that has impacts on society, communities, and families.

According to her, it damages people’s mental and physical well-being, retards economic progress and all the other things that we know and we must bring an end to this.

“We must stop this. We must limit this, because we all feel passionately and keenly what the terrible impacts are of kidnapping. This is what we want to try and stop.

“So my condolences to the people of that state and to the affected people and to their families and friends.

She said that the multi-agency Kidnap Fusion Cell had been a three-year initiative to create a collaborative response from Nigeria’s security forces to tackle the threat of kidnap across the country.

According to Levers, the Multi-Agency Fusion Cell’s role was to support the Nigerian Police and Department of State Services, DSS, kidnap response units nationwide by collecting, analyzing, and disseminating data to the Office of the National Security Adviser, as well as providing trend-based information on kidnapping incidents by state.

“The Multi-Agency Fusion Cell and the training that’s going on this week comes out of a deep partnership that the United Kingdom and Nigeria have, called our Security and Defence Partnership.

“It is part of our overall strategic partnership, signed by our foreign ministers last year, and a partnership that’s based on mutual trust and mutual respect and mutual support.

“We met at a Security and Defence Partnership meeting over a few days in London a couple of weeks ago, and this step of rolling out the Mukti-Agency Fusion Cell capability to states was something we agreed on,” she said.

Nigerian govt still working to rescue Chibok Girls, Leah Sharibu – NCTC-ONSA

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Yelewata: Oluremi Tinubu donates N1bn to displaced families in Benue

Wife of the President, O luremi Tinubu has announced a ₦1 billion donation through the Renewed Hope Initiative (RHI) to assist families displaced by a recent suspected herders’ attack in Benue State. The First Lady made the pledge on Tuesday during a condolence visit to the Benue State Government House, where she met with victims’
Yelewata: Oluremi Tinubu donates N1bn to displaced families in Benue

Wife of the President, O luremi Tinubu has announced a ₦1 billion donation through the Renewed Hope Initiative (RHI) to assist families displaced by a recent suspected herders’ attack in Benue State.

The First Lady made the pledge on Tuesday during a condolence visit to the Benue State Government House, where she met with victims’ families and state officials following the June attack on Yelewata community, which left over 100 people dead.

Oluremi Tinubu said the intervention aligns with the mission of RHI to restore hope and livelihoods for vulnerable families.

“On behalf of the governing council of the Renewed Hope Initiative, we are making a donation of ₦1 billion to support displaced families to regain stability, return to their sources of livelihood, and build better lives,” she stated.

Yelewata: Oluremi Tinubu donates N1bn to displaced families in Benue