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Breaking: Tinubu arrives N’Assembly to present 2025 budget
President Bola Tinubu arrived at the National Assembly at 12:10 PM on Wednesday for the formal presentation of the 2025 budget proposal, set at ₦47.96 trillion.
This follows Monday’s Federal Executive Council approval and the Senate’s endorsement of the 2025–2027 Medium-Term Expenditure Framework on November 22.
The budget aligns with these frameworks, emphasizing fiscal strategies and adjustments. The revised timeline highlights the need for thorough refinements before submission.
Joshua Beckford: Redefining What’s Possible as a Young Prodigy
Meet Joshua Beckford, a young genius whose remarkable story has captured global attention. Born in 2004, Beckford is widely celebrated for becoming the youngest person ever admitted to the prestigious University of Oxford at the tender age of six. But his achievements go far beyond academic brilliance—they showcase the power of perseverance, intellectual curiosity, and a commitment to making a difference.
A Remarkable Start
Joshua Beckford’s extraordinary abilities were evident early in life. By the age of two, he could read fluently and mastered speaking Japanese by three. His father, Knox Daniel, noticed his keen intellect and sought to nurture it by exposing him to challenging educational opportunities.
At six years old, Beckford enrolled in Oxford University’s online philosophy program for gifted children. His success in the course was nothing short of extraordinary. Studying topics like morality, ethics, and logic, Beckford earned distinctions and demonstrated a level of understanding that even many adults would find daunting.
Beyond Academics
Joshua Beckford’s brilliance extends far beyond the classroom. He is an advocate for social change and a passionate voice for environmental conservation. At a young age, he developed a strong interest in climate action, becoming a staunch supporter of green initiatives and raising awareness about the need to care for our planet.
Beckford is also an activist for autism awareness. Living with high-functioning autism himself, he uses his platform to challenge stigmas surrounding neurodiversity and to inspire others to celebrate unique talents. He represents the possibility that those with autism can excel in ways the world might not yet understand.
A Heart for Humanity
In addition to his intellectual pursuits, Beckford dedicates time to philanthropic activities. He has worked on projects aimed at supporting underprivileged communities, particularly in Africa. For instance, he has been involved in initiatives to raise funds for building schools in rural areas, ensuring children have access to the education they need to fulfill their potential.
Beckford’s advocacy for the Sustainable Development Goals (SDGs) further highlights his global perspective. He believes in empowering others through education and creating a sustainable future for all—a vision that aligns with the growing urgency to address systemic issues worldwide.
Recognition and Legacy
Joshua Beckford’s groundbreaking achievements have earned him numerous accolades, including recognition as one of the world’s most intelligent children. He has been honored by organizations across the globe for his contributions to education, autism advocacy, and environmental conservation.
Yet Beckford’s legacy isn’t just about what he has achieved. It is about the inspiration he offers to people of all ages. He challenges the traditional notions of capability, showing that the limits we impose on ourselves often have little to do with our actual potential.
African countries plan continental credit rating agency
In a bold move to reshape Africa’s financial landscape, Nigeria and several other African nations are collaborating to establish a continental credit rating agency. This initiative aims to counter perceived biases from Western credit rating agencies and provide a more accurate representation of Africa’s economic realities.
The announcement was made during the launch of the Debt Management Forum for Africa and the inaugural policy dialogue titled “Making Debt Work for Africa: Policies, Practices, and Options,” organized by the African Development Bank (AfDB) in Abuja.
Prof. Kevin Urama, Vice President and Chief Economist at the AfDB, highlighted that the proposed African credit rating agency would address information asymmetries and biases that have historically affected the continent’s credit ratings. He emphasized that the lack of reliable data and the reliance on historical perceptions have contributed to unfavorable ratings for African countries.
“The credit rating agency will encourage Africans to introspect and understand that it’s not just about blaming the big three. If they provide certain ratings, we need to assess our methodologies and data sources,” Urama stated. He added that this initiative would enhance engagement with existing rating agencies and improve their understanding of Africa’s unique economic contexts.
Supporting this perspective, the Director-General of Nigeria’s Debt Management Office, Ms. Patience Oniha, noted that Western credit rating agencies often exhibit biases against Africa.She pointed out that the limited timeframes given to countries to respond to queries further exacerbate these challenges.
This development comes amid growing concerns about Africa’s debt sustainability and the need for fair assessments that reflect the continent’s true economic potential. By establishing a continental credit rating agency, African nations aim to assert greater control over their financial narratives and foster an environment conducive to sustainable economic growth.
ECOWAS Leaders Offer Grace Period as Mali, Burkina Faso, and Niger Plan Withdrawal
The Economic Community of West African States (ECOWAS) faces a historic shift as leaders of the regional bloc have approved the withdrawal of Mali, Burkina Faso, and Niger—three nations currently under military rule. However, to preserve ties, ECOWAS has extended a six-month grace period, allowing the countries to reconsider their decision.
Founding Members Depart
Mali, Burkina Faso, and Niger, founding members of ECOWAS since its establishment in 1975, announced plans to leave the bloc in January 2025. This decision follows their refusal to comply with ECOWAS’s demands to restore democratic governance after recent military coups in these nations.
The departure of these three countries deals a significant blow to ECOWAS, which has long been a cornerstone of economic and political integration in West Africa. Citizens of ECOWAS member states currently enjoy the right to live and work across borders, with free movement of goods. The withdrawal raises questions about how these freedoms will be affected.
A New Bloc Emerges
The departing states have formed a new alliance, the Alliance of Sahel States (AES), which has already announced visa-free travel and residency rights for ECOWAS citizens. Leaders of AES emphasize that this decision reflects a spirit of friendship and a desire to maintain long-standing cultural and historical ties across the region.
Despite these assurances, the three nations remain among the poorest in West Africa, and most migration flows traditionally move from these landlocked states to wealthier coastal countries within ECOWAS.
ECOWAS Negotiates a Transitional Period
During a summit in Nigeria, ECOWAS leaders expressed respect for the decision of the Sahel nations but emphasized the hope for reconciliation. They offered a transitional period from 29 January to 29 July 2025, during which the three countries can rejoin the bloc if they choose.
Negotiations, led by Senegal’s President Bassirou Diomaye Faye and Togo’s Faure Gnassingbé, will continue in an effort to mend relations. Yet, the Sahel states maintain that their decision to leave is “irreversible,” as confirmed in a joint statement following a ministerial meeting in Niger’s capital, Niamey.
Challenges Ahead for Regional Cooperation
The withdrawal of Mali, Burkina Faso, and Niger poses serious challenges for regional unity. ECOWAS stands to lose 76 million people—a significant portion of its population—as well as more than half of its geographical land area.
In a statement, ECOWAS Commission President Omar Touray described the impending exit as “disheartening,” but acknowledged the value of ongoing mediation efforts. Meanwhile, AES Chairman and Mali’s military leader Assimi Goïta assured that the right of ECOWAS citizens to move and reside within AES territory freely would remain intact, signaling a willingness to maintain amicable relations.
Underlying Tensions
Relations between ECOWAS and the Sahel states have been strained since the military coups in Mali (2020), Burkina Faso (2022), and Niger (2023). ECOWAS suspended the membership of these nations and condemned the coups, demanding a return to civilian rule.
However, the military juntas have resisted these calls and shifted their alliances toward Russia, accusing ECOWAS of being too aligned with Western powers. This geopolitical pivot underscores the deepening divisions within the region.
What Lies Ahead?
As ECOWAS prepares for the formal departure of the Sahel states, the bloc’s leadership is tasked with navigating this unprecedented split. The coming months will determine whether negotiations can bridge the growing divide or if the departure of Mali, Burkina Faso, and Niger will mark a permanent fracture in West African unity.
Power sector: Nigerians beam hopes on Tinubu as Buhari govt fails
The inauguration of President Bola Ahmed Tinubu on Monday heralds a new era for the country after an unsuccessful attempt by the immediate past President Muhammadu Buhari to break the jinx facing Nigeria’s power sector.
In 2015, when Buhari assumed power, he promised to revamp Nigeria’s transmission, distribution and generation subsectors of the power industry.
Eight years later, he exited the seat of power, leaving the sector unchanged.
According to data by the Nigerian Electricity Regulatory Agency, NERC, available power generation capacity stood at 4,712.34MW in the First Quarter of 2022.
The Nation had continued to hover around the generation capacity of 4,000MW to 5,000MW in a country with over 200 population. Meanwhile, of the generated electricity capacity, the Electricity Distribution Companies, DisCos, could only absorb less than 3, 802MW per day in July 2022. However, Nigeria needs a massive 25,000–40,000 megawatts (MW) of power supply.
Challenges in Nigeria’s Power Sector
The challenges in Nigeria’s power sector cut across the transmission, distribution and generation sectors.
The continued collapse of the National grid had characterised the power sector in the eight years of Buhari’s administration. On 15 May, the grid collapsed for the 99th time since 2015.
DAILY POST reports that in May 15, 2023, the national grid dropped to 221MW out of over 4,500MW routine available capacity. Accordingly, of over 16 active plants in the country, only three were on the grid at the time; Omotosho was on the grid with 132.90MW, Omotosho NIPP was also on the grid with 78MW, while Rivers IPP was on the grid with a generation of 10MW.
Since privatising the power sector in 2013, the national grid has collapsed 130 times.
In a report by NERC, the national grid collapses in 2015 were 10. That rose to 28 in 2016, while 21 cases were recorded in 2017. NERC listed the cases in 2018, 2019, 2020, and 2021 as 13, 11, four and four, respectively. Last year, the grid failed seven times, among others that the commission did not capture.
As a solution to addressing the challenges in the power sector, Buhari’s government in 2020 launched the $2.3 billion Siemens deal, dubbed the Presidential Power Initiative (PPI), to unlock Nigeria’s electricity generation to 25,000 MW in six years; however five years down the line, the project has not impacted the industry.
The challenges led Buhari into cabinet reshuffling, the Minister of Power- Babatunde Fashola, who served from 2015 to 2019 (when the Minister of Power was removed from his portfolio) and given to Mammah Saleh (August 2019 to September 2021) and Abubakar Aliyu whose tenure ended on Monday. However, despite the efforts of Buhari and his men, the sector continued to suffer setbacks.
Speaking with DAILY POST on Monday, the President of Network of Energy Reforms Nigeria, Nigeria Consumer Protection Network, Mr Kunle Olubiyo, stated that the power success had failed on all fronts under the Buhari administration.
He said electricity tariffs were increased by 500 per cent in the eight years of Buhari’s government without a commensurate improvement in the quality of services to consumers.
“Between 2016-2023, there was about a 500 per cent increase in electricity tariff without a corresponding increase in power generation, transmission, and distribution via the national electricity grid.
“Power sector’s failure in maximising the inherent potentials of the sector was largely due to failure of institutions and overbearing political interferences in the day to day business operations of the sector, resulting in a decline in power supply to Nigerians in the most unprecedented and embarrassing manners.
“In the years under review, there were largely pronounced failures of regulatory institutions in charge of enforcing market rules, extant operational rules and general failure of enforcement of regulatory framework”, he stated.
Also, Bode Fadipe, Global Power & energy sector policy analyst, said Buhari had not significantly impacted the Nation’s power sector.
He decried that the state of things in the market had remained convoluted under Buhari.
He noted that most of the challenges Buhari met in 2015 were eminently available after his exit on Monday.
“For operations, the Buhari administration did not depart remarkably from what it met on the ground. The state of things in the market continued to remain convoluted.
“From generation to distribution, the challenges that the administration met when it took over power in 2015 – three years into the privatisation were still visible even in the administration’s twilight.
“The number of grid system outages, the inability of the Siemens project to address operational issues and bring the necessary succour to end users of Electricity, the takeover of 6 of the DisCos (Abuja, Kaduna, Kano, Ibadan, Benin & Port Harcourt) by financial institutions for lending delinquency, the notice of withdrawal of the licence of Kaduna DisCo, the periodic threat by generation companies to withdraw their service, the disturbing silence from the regulator even with the new policy direction provided by the 1999 Constitution are all indicators of a market that requires more than a mere glance by an administration that came on the mantra with a mountainous promise to make a difference within the Constitutionally allowed time to make a change”, he stated.
Similarly, Mr Joseph Eleojo, an energy expert, reiterated that nothing changed in the power sector under Buhari’s government except the increase in electricity tariffs.
He noted that Buhari’s administration only paid lip service to electricity generation in Nigeria.
“Foremost, nothing has changed in the electricity sector despite the so-called reforms. The generation has not crossed 6,000 Megawatts for a Country of over 200m people since the Military regime.
“What has changed in the electricity sector? He just increased tariffs without corresponding service. The Buhari Government only paid lip service to electricity generation”, he said.
Can Tinubu break the jinx in the power sector?
Tinubu, during his inaugural speech on Monday, had promised that his administration would undo the many challenges facing the country’s power sector.
He said, “Electricity will become more accessible and affordable to businesses and homes alike. Power generation should nearly double, and transmission and distribution networks should be improved. We will encourage states to develop local sources as well”.
The specifics of how Tinubu would achieve the above feat in the power sector have remained to be determined.
It was not all bad during Buhari’s government as it completed the Kashimbila Multipurpose Dam, 40MW Hydropower Station and Associated 132KV Switchyard, Transmission Line and Distribution Substation located in Taraba state, 50 megawatts (MW) Maiduguri emergency power project and other projects.
Olubiyo advised Tinubu to review the entire gamut of the power sector.
According to him, the privatisation project of the country’s power sector had failed to achieve its desired outcome, hence the need for a drastic turnaround.
“The incoming administration should review the entire gamut of the power sector privatisation in its present state, which has failed to achieve the desired results despite huge investments.
“Electricity is a major enabler for job creation, industrialization, sustainable growth and development. The need for the incoming administration to get it right with electricity can not be over-emphasised,” he said.
Eleojo said Tinubu must prioritise electricity generation and distribution if he must succeed on the economic front.
He stated that Tinubu must undertake drastic reforms beyond rhetoric.
He particularly advised that the privatisation of the DisCos should be reviewed and the national grid disbanded.
“The incoming administration should make electricity generation and distribution its number one priority. It should carry out more drastic reforms, review the privatisation process of the DisCos and disband the national grid.
“Let private estates, local governments and other interested entrepreneurs generate and distribute electricity without getting a licence from NERC. The guidelines and regulations of NERC are one of the major bottlenecks to power generation in Nigeria”, he stated.
On his part, Fadipe said Tinubu’s government must walk the talk on the subnational government taking advantage of the liberalised power sector.
The government must intentionally kick the ground running in the transmission, distribution and generation sectors.
“It is also vital that the Tinubu administration takes deliberate steps to work with subnational governments to exploit the liberalised power sector.
“It is very important because if the national government provides that technical support, the subnational governments may be able to take advantage of the provisions of the 1999 Constitution.
“The Tinubu administration also needs to look very closely at the principal regulator of the sector to exorcize from it what is called the 1st Born Syndrome. Frequently, 1st borns are usually timid with a yes sir mentality. 1st borns are more managers than leaders. They are often quiet with an intention not to rock the boat.
“We have seen this syndrome in the principal regulator of the market. The regulator needs to lead the market from the front. A sector that is ten years old should have become stronger and better by now with a steady climb into higher altitudes. Unfortunately, we are still dealing with take-off issues in the market.
“As tantalising as it seems, asking for scrutiny of projects executed in the last 8 years will be distracting. That notwithstanding, past managers must be held accountable for their deeds as soon as there are discoveries”, he stated.
Like other past administrations, Tinubu’s government has started with hope and expectations; certainly, Nigerians are optimistic that the rhetoric would translate into fundamental changes required to curb the menace in Nigeria’s power sector.
Credited to: Dailypost.ng
India gas leak: No less than eight dead after Visakhapatnam accident
Eight instant death, with hundreds of others taken ill, after a gas leak in south India.
The leak, in the city of Visakhapatnam in Andhra Pradesh state, has been traced to the LG Polymers plant.
“Doctors say “hundreds” of people have been taken to hospital – many complaining of a burning sensation in the eyes and difficulties breathing.”
The occurrence, which took place around 03:00 local time (21:30 GMT), may have been due to carelessness, officials say.
The leak crop up when the plant was being re-opened for the first time since 24 March when India went into lockdown to restraint the spread of coronavirus.
The state Industries Minister Goutam Reddy told BBC Telugu that it looked as though proper measures and guidelines were not considered when the plant was being re-opened.
As the gas escalate, inhabitants of the place ran out of their homes in panic.
“Distressing visuals of people fainting and dropping unconscious on the streets are being shared on social media.”
Source___BBC News
Trump economy encounters long-term catastrophe as jobs data emerges
The swaying economic pain — might be one of the trounce since the 1930s — of the American economy in the time of the Corona Virus pandemic will be graphically intensified in two new rounds of unemployment data that are due on Thursday and Friday.
“The figures will show Americans who have and will lose their livelihoods as common victims of the most cruel public health crisis in 100 years, along with the sick and the more than 73,000 people who have so far died.”
The anticipation of an extended economic hovel will have vital implications in politics. It is already threatening to humidify memories of the roaring economy that President Donald Trump was banking on to carry him to a second term.
“It may also provide an opening to presumptive Democratic nominee Joe Biden who helped bring the country back from the last economic crisis in the Obama administration.”
The coming reality that the “rocket” like glance the President foretell is unlikely may be behind Trump’s drastically frantic statements on a emergency he has also declared will soon be over.
“We went through the worst attack we’ve ever had on our country,” he said on Wednesday. For weeks early this year, Trump was in denial and painted the threat from the virus as tiny.
“This is really the worst attack we’ve ever had. This is worse than Pearl Harbor. This is worse than the World Trade Center,” Trump said Wednesday.
Trump also called on schools to resume and cut off a nurse visiting the Oval Office who observed that personal preventive equipment had been “sporadic” in hospitals.
Source___CNN
Banjul City Council calls quick distribution of Gambia gov’t food aid
In spite of the launch of its own food bank, the Banjul City Council says it would be perfect if the central government speed up the issuance of food aid to inhabitants of the city as Covid-19 limitations threaten to give rise to food insecurity in many Gambian households.
The BCC not long ago set up a food bank but the town hall has demonstrated its readiness to work with the central government to help keep hunger at standstill through the distribution of food aid to residents under the Covid-19 partial lockdown.
“The government has asked us to send them data on the number of compounds and houses in Banjul and we’ve done that since on Thursday and we’re now keeping our fingers crossed,” spokesman Bah disclosed.
“We believe they [government] will involve us because as local government authorities to complement the efforts of the central government.”
He told The Standard that the earlier the government engaged local governments in the distribution of relief aid, the better as the population faces prospects of hunger.
“We are patiently waiting but we want it [distribution] done quickly because people have been asked to stay at home and this can cause food shortages,” he predicate.
Source___Standard News
Gambia: URR village pressurize to cast out family over Covid19 case
The Ministry of Health has said a community in Upper River Region has pressurized to cast out the family of the only Covid-19 case in the area.
The acting director of health services, Dr Mustapha Bittaye told journalists yesterday: “The ministry of health has intensified psychosocial support and sensitisation support in a village (Numuyel) in URR as the community threatens to banish the family of the only confirmed case in the village.”
“All the 109 test results received all tested negative. 90 percent of these test results are samples of the mass screening conducted in Bakau. Three high risk contacts of the recently confirmed case have been traced. 101 low risk contacts have been regularly followed up to ascertain manifestation of symptoms of Covid-19,” he said.
He said five connected contacts of the recently recorded case in Central River Region have been taken into quarantine and the compound is under total isolation. “The country currently has 101 people under quarantine, 7 active cases.”
Source___Standard News
India unemployed numbers pass 120 million in April
A lockdown to prevent the escalation of coronavirus has seen 122 million Indians lose their jobs in April alone, new data from a private research agency has explain.
India’s unemployment record now topped 27.1%, according to the Centre for Monitoring the Indian Economy (CMIE).
“The new data shows India’s unemployment figures are four times that of the US.’
The country has been in lockdown since 25 March to to prevent Covid-19 spreading around, causing mass layoffs and heavy job losses.
India currently has not less than 50,000 reported infections.
Unemployment hit 23.5% in April, a sharp rise from 8.7% in March. This is due to the lockdown, which brought most economic activity – except important services such as hospitals, pharmacies and food supplies – to a standstill.
Scenes of stranded migrant workers, particularly daily-wage earners, fleeing cities on foot to go back to their villages, filled TV screens and newspapers for most of April.
“Their informal jobs, which employ 90% of the population, were the first to be hit as construction stopped, and cities suspended public transport.”
But prolonged alarms and the continued lockdown of businesses – and the uncertainty of when the lockdown will end – hasn’t left out formal, permanent jobs either.
Source___BBC News
D5 Creation