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Niger Coupists Adamant As Deadline Ends
The coup plotters in Niger are unyielding to the one-week ultimatum given to them by the Economic Community of West African States (ECOWAS) to quit and allow the democratically elected President Mohamed Bazoum to return to office or risk military intervention.
Daily Trust reports that the deadline given the military junta expired yesterday, with the putschists remaining obstinate even as they have gone ahead to rally unprecedented support from the civil population who joined them in keeping vigil on the streets of Niamey and other major cities like Maradi on Saturday through Sunday.
Aljazeera news reported last night that an estimated 30,000 people gathered in the capital Niamey at a stadium, some draped in Russian flags, as the threat of regional military intervention looms.It said a delegation of members of the now-ruling National Council for the Safeguard of the Homeland (CNSP) arrived at the scene Sunday to cheers from supporters.
Elevator accident: Lagos govt orders suspension of LASIAMA boss, Adekanmbi, blacklists facility managers
Lagos State government has ordered the General Manager, the State Infrastructure and Asset Management Agency (LASIAMA), Adenike Adekanmbi, to immediately proceed on suspension, following the conclusion of deliberations and submission of report by the panel established to probe the unfortunate elevator accident at the General Hospital, Odan, which resulted in the death of Dr. Vwaere Diaso.
The accident which occurred on Tuesday, 1st August 2023 at the House Officer’s residence of the General Hospital, led to the death of Dr. Diaso, a vibrant young house officer, who was about completing her housemanship.
Permanent Secretary, Ministry of Information and Strategy, Mr. Olumide Sogunle, made this known in a statement made to newsmen on Sunday, saying that besides, the facility managers had been sacked and blacklisted based on the state government’s findings.
Consumer goods manufacturers borrow N1.8trn to survive in HI’23
At the backdrop of rising interest rates and foreign exchange scarcity, leading consumer goods manufacturing companies have come under severe funding pressure.
Financial Vanguard findings from the financial statements of the companies show that they have resorted to very expensive bank borrowings to sustain their businesses, increasing their exposure to the banks to N1.834 trillion in the first half of the year 2023, H1’23, a 24.5% increase against N1.473 trillion in the corresponding period of 2022, H1’22.
Data obtained from 11 leading companies listed on the Nigerian Exchange Limited, NGX, revealed that the finance cost from the borrowing rose astronomically by 411.2% to N330.972 billion in H1’23 from N64.745billion in H1’22.
The rising finance cost is majorly driven by the steady increases in Monetary Policy Rate, MPR, by the Central Bank of Nigeria, CBN, which hit 18.75% as at last month.
Atiku Files Fresh Case Against Tinubu In U.S
Peoples Democratic Party (PDP) presidential candidate, Atiku Abubakar, said yesterday that he withdrew the case against President Bola Ahmed Tinubu at the Circuit Court of Cook County, Illinois County, in the United States of America because he filed a fresh case against the president.
Special assistant on public communications to Atiku, Phrank Shaibu, who stated this in a statement, said the former vice president has filed a separate case No. 23-5099 (N. D. III.) in the U.S.
District Court for the Northern District of Illinois against Tinubu hence the decision of the former Vice-President to withdraw an existing case before a circuit court in Illinois.
The Circuit Court of Cook County had dismissed Atiku’s lawsuit seeking to get access to Tinubu’s educational records at the Chicago State University.
Niger invasion may cost FG over N2.98tr, double defence spending yearly
Though the Nigerian Senate, at the weekend, rejected President Bola Tinubu‘s request to deploy Nigerian troops in Niger Republic to restore democratic rule in the troubled country, military intervention may have come to Nigeria at a heavy cost to warrant a pull back from the avoidable brink.
By global average of cost of war to Gross Domestic Production (GDP) in countries, President Bola Tinubu’s foretold military incursion in Niger Republic will at least double Nigeria’s N2.98 trillion (i.e. 13.4 per cent) committed to defence in 2023 Appropriation Law.
The conservative estimate may even be more, given that countries at war now spend between 23.5 per cent and 59.1 per cent of their GDP on the economics of violence.
Indeed, the upper legislative chamber advised President Tinubu and the Economic Community of West Africa States (ECOWAS), which he leads, to explore a political solution to the crisis.
Conclusion
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