Month: October 2023

The Jos Electricity Distribution (JED) Plc has commiserated with residents of Kabong Community in Jos North Local Government Area, over losses resulting from its facility’s malfunction.

JED in a statement issued by its Head, Corporation Communications, Dr Friday Elijah, on Saturday in Jos, described the incident as unfortunate.

“We express our deepest sympathies to families who have encountered losses as a result of this incident,” he said.

According to the JED official, the incident occurred at about 3 am, as a result of issues surrounding its high tension wires in the area.

“Preliminary investigation revealed that the accident was a result of a high-tension line snap onto the low-tension lines which resulted in a voltage supply outside limits.

“The source feeder tripped off and inter-tripped the transmission end source from Makeri Transmission Station.

“We will continue to be monitoring the situation closely and communicate the facts of this regrettable incident,” he said.

He said that an evaluation of the root causes would be conducted and appropriate measures put in place to forestall future occurrences.

A resident of Kabong , Mr Dung Bature, confirmed the incident and said that 10 persons have been reported killed as a result of the incident while the injured were taken to the hospital.

He added that some some shops around Sacred Heart Catholic Church were also gutted by fire among other damage. (NAN)(www.nannews.ng)

Source: News Agency of Nigeria

The Centre for Human and Socio-economic Rights (CHSR) has called on Gov. Babajide Sanwo-Olu of Lagos State to reopen Owode Onirin and Mile 12 International markets to prevent compounding economic hardship.

The President of CHSR, Mr Alex Omotehinse, in a statement on Saturday described the closure of the markets as a misplaced priority.

Omotehinse said that the reopening would avoid the unintended consequences on economic investments and livelihoods of overwhelming majority of the people.

He said, “We condemn recent closure of Owode Onirin and Mile 12 International markets by the Lagos State Commissioner for Environment and Water Resources, Mr Tokunbo Wahab.

“CHSR assert that the closure coming at the heels of recent actions that negatively affected the livelihoods of millions of Lagos residents in unfortunate and a misplaced priority.

“It should be instructive that the two markets are not only critical to economic survival of millions of traders across the country but also strategic to the supply of perishable food and vehicle spare parts in Sub-Sahara Africa.”

According to him, the group is aware that the two markets have, on many occasions in the past, been adjudged as compliant to the maintenance of clean environment.

He said that this was evident in the introduction of innovations and Infrastructural development that had tremendously improved the standard of the markets.

“We maintain that Lagos State Government in it’s quest to ensure that all market maintain cleaning and hygienic environment should not arbitrarily deploy closure of markets as weapons.

“We must also consider that the state environmental agencies has failed to meet up with the expectations of traders in spite of fulfilling the necessary obligation to the agency in charge of waste disposals.

“We are aware that Mile 12 International market has featured as the best maintained perishable food market in Nigeria, thus serving as example to other similar markets across the country.

“We also wish to reiterate that arbitrarily and frequent closure of markets at a time economic downturn when citizens are barely coping with survival is ill-conceived and counterproductive,” the activist added.

The News Agency of Nigeria (NAN) reports that the Lagos State Government on Friday announced the immediate closure of Mile 12 International and Owode Onirin markets for various environmental infractions. (NAN) (www.nannews.ng)

Source: News Agency of Nigeria

The International Monetary Fund (IMF) says it is playing an active role in mediating on the debt debacle facing some countries.

The Managing Director of IMF, Kristalina Georgieva, said this on Friday in Marrakech, at the Fund 2023 Annual Meetings Plenary.

According to Georgieva, more than half of low-income countries remain in, or are at high risk debt distress.

She said that about a fifth of emerging economies faced “default-like spreads”.

“The common framework is starting to deliver on debt restructurings, albeit slowly.

“And the more recent Global Sovereign Debt Roundtable established by the Indian G20 presidency, the IMF and the World Bank, is bringing all relevant creditors and debtors together with promising signs, ” she said.

The IMF managing director said that the fund was also committed to finding a lifeline for many countries in their time of need, through a “global financial safety net”.

“Since the onset of the pandemic, we have provided about one trillion dollars in liquidity and financing.

“This came via 650 billion dollars Special Drawing Rights (SDRs) and 320 billion dollars in lending to 96 countries, including 56 low-income nations,” she said.

She said that the IMF activated a programme of direct debt relief to its poorest members and also mobilised emergency financing during the COVID-19 pandemic.

She added that the IMF also inaugurated its newest instrument, the Resilience and Sustainability Trust (RST).

“For the first time in history, the RST provides long-term affordable resources to vulnerable low, and middle-income countries.

“One year after it was operationalised, we have 11 countries benefitting from RST support to help them adapt and build resilience, especially to climate change,” Georgieva said.(NAN)(www.nannews.ng)

Source: News Agency of Nigeria

Dr Salma Anas, Special Adviser to the President Bola Tinubu on Health, has called for collaboration between the public and private sector to accelerate realisation of a resilient health system in the country.

Anas made the call at the Future of Health Conference 2023, held on Thursday in Lagos.

The forum, organised by the Nigeria Health Watch, had as its theme:” The Private Sector as a catalyst for a resilient health system”.

In a virtual keynote address, Salma described healthy life as a fundamental human rights for all Nigerians.

“We need a healthy population that is productive to be able to unlock the potential for positive growth and development, which will then lead to our collective and national prosperity.

“The health of Nigerians is a matter of national security that requires a resilient health system to ensure the provision and maintenance.

“The government is greatly investing in the health sector but there has to be an active involvement of the private sector to secure the coverage and sustainability for sensible national growth, development and progressive prosperity.”

According to her, the administration of Tinubu has prioritised engagement of stakeholders especially the private sector to achieve the desired goals for the health sector’s growth and development.

“With over 70 per cent private expenditure on health as share of the total health spending in the country, having strategic and meaningful partnerships and collaborations between the public and private sectors is key.

“This will help in unlocking the huge potential and improvement of the overall health sector in the country,” the special adviser said.

Salma said leveraging on the existing opportunities and possibilities of public-private partnerships, Nigeria would enhance substantial progress toward achieving Universal Health Coverage (UHC).

She added that it would also advance healthcare delivery, improved access to health and ensure financial protection for a resilient health system for all Nigerians.

According to her, however, this will require crucial reforms to ensure the interests of both the public and private stakeholders are safeguarded.

She said that such reforms would establish clear roles and responsibilities with robust governance frameworks, as well as transparent and accountability mechanisms.

“However, achieving a resilient health system requires a multi-sectoral and multi-faceted approach where public and private sector collaborate and synergise to accelerate progress towards this goal.

“With this, Nigeria can have the right policy space that will enhance healthcare infrastructure, requisite manpower, deploy appropriate technologies, and guarantee pharmaceutical supplies with supportive logistics.

“Such policy will improve service delivery, mobilise additional resources and promote equitable access to quality healthcare for all its citizens.

“This is in line with the Renewed Hope mantra of this administration of inclusivity and partnership especially between the public and private sector for developmental growth that leads to national prosperity,” she said.

In her opening remarks, Vivianne Ihekweazu, Managing

Director, Nigeria Health Watch, emphasised that quality healthcare was not a privilege but a fundamental right for every citizen.

According to her, Nigeria has a mixed health system that needs to be synchronised.

“The reality in Nigeria is that we have a mixed health system, patients navigate for healthcare

between the public and the private sector.

“This demands better strategic integration between

public and private providers.

“This year, our focus centering on ‘The Private Sector as a Catalyst for a Resilient Health

System’ as a theme resonates deeply with the complex dynamics of healthcare delivery in our country.

“We recognise the indispensable role of the private sector, not just as a provider of

services, but as a catalyst for transformative change.

“By leveraging the innovation and expertise

within the private sector, we need to strengthen our healthcare system, ensuring its resilience in

the face of challenges.”

Ihekweazu said it was expedient to accelerate

progress to improve health outcomes in the country as our statistics are moving in the wrong direction. (NAN) (www.nannews.ng)

Source: News Agency of Nigeria

The Debt Management Office (DMO) says its N150 billion Sovereign Sukuk has received a subscription of N652.827 billion.

The Director-General of the DMO, Patience Oniha, made this known on Thursday in Marrakech.

According to Oniha, subscription level, which is 435 per cent of the N150 billion original amount, shows that the level of awareness of the product has increased.

She said it was also an indication that investors were willing to support the financing of infrastructure.

“In response to this strong demand for the Sukuk, the DMO has allocated N350 billion to the diverse investors who subscribed to the Sovereign

“The N350 billion will be used to finance the construction and rehabilitation of roads and bridges across the six geopolitical zones and the Federal Capital Territory.

“The DMO remains committed to meeting the needs of investors while also supporting the development of the domestic capital market,” she said. .

The News Agency of Nigeria (NAN) reports that on Oct. 3, the DMO announced an offer for subscription of its 6th, 10-year tenor Sovereign Sukuk for N150 billion, at a rental rate of 15.75 per cent.

Oniha had said that the Sovereign Sukuk was in initiated in 2017 to aid the rehabilitation and construction of critical national infrastructure.

She said that the Federal Government had raised and deployed N752.56 billion through the Sukuk, for development of critical infrastructure since 2017.

According to her, Sukuk helps in infrastructure development and also achieves associated multiplier benefits.

“The DMO, through the issuance of Sukuk, has raised and deployed N752.557 billion to the rehabilitation and construction of N4,000 kilometres of roads and bridges across the six geopolitical zones and the Federal Capital Territory (FCT).

“Apart from infrastructure development, Sukuk encourages financial inclusion by offering ethical investors an opportunity to invest in government securities.

“It deepens the domestic financial market and also sets a benchmark corporates and sub-nationals,” she said.

She assured that the Sukuk was backed by the full faith and credit of the Federal Government. (NAN)(www.nannews.ng)

Source: News Agency of Nigeria