FG has ended borrowing – Finance Minister

The Federal Government says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister of the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving business environment for local and foreign investment.

Edun said that with the increased revenue from subsidy removal, various palliatives had been made available to cushion its effects on a short, medium and long term bases.

He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself over time.

Similarly, the Minister of Industry, Trade and Investment, Doris Uzoka-Anite, said investment offers were already coming up in different sectors of the economy, including oil and gas, health, solid minerals and agriculture.

She said that her ministry would collaborate with relevant Ministries, Departments and Agencies of government to achieve the president’s commitment to creation of jobs for the teeming youthful population of Nigeria.

On his part, the Minister of Health, Prof. Ali Pate, said that critical sections of the health value chain would be exploited to improve the economy and create jobs for Nigerians.

He said that the president had directed them to be courageous and innovative in taking decisions that would benefit the country, adding that the president is already taking such moves.

Pate said that the president was responsive to the need to set the economy on the path of progress with his move to remove subsidy on petrol on his first day in office.

The Minister of Information and National Orientation, Alhaji Mohammed Idris, said that the president charged the cabinet members to be transparent in their dealings, especially in disseminating necessary information.

He urged the media to avail themselves the opportunity of verifying and fact checking their stories in order not to misinform the public.

Source: News Agency of Nigeria

President Tinubu tasks new ministers on hard work, dedication

President Bola Tinubu has tasked the new cabinet ministers to hit the ground running by working hard to turn around the fortunes of the country.

He gave the charge on Monday while addressing the cabinet members at the opening of the Federal Executive Council (FEC) meeting in Abuja.

“We have talents; we have the level of intellectuals and capacity to turn this country around. You and I know that the expectation is high. Therefore we must work hard, commit ourselves and create a buoyant economy that will serve every Nigerian.”

The president charged the ministers to work as a team, stressing that if they stay focused in the discharge of their responsibilities, the country would quickly move forward.

“Every one of you is a member of this team, we can do whatever we want from our areas of responsibility but it all depends on you. If you stay focused, we will all arrive at a better destination and the country will be better for it,” he said.

Tinubu added that the natural endowments of the country must be properly harnessed to make life better for citizens of the country.

“We must unlock the energy and natural resources of this country. We must start to produce for ourselves, dig ourselves out of the woods, focus on education, healthcare, and make social investments that are essential for the development of our people.

“Our priority areas are defined in our economic programmes. Every area is our priority and you belong in the driver’s position to realise and make that priority a fulfilling promise to the entire nation and the continent of Africa.

“We must achieve the economic growth that is expected of us. We must feed our people, we must leverage on what we have and grow more to satisfy Nigerians,” he said.

Tinubu said he would continue to listen to the yearnings and aspirations of Nigerians and make corrections where necessary, as he enjoined the ministers to be bold in taking decisions that would move the nation forward.

“I am ready to listen. Like I said to the Nigerian Bar Association yesterday, I am ready even for corrections because only God is perfect. Don’t be afraid to make a decision; that’s the problem of leadership,” he said.

The president also said that the challenges confronting the nation like security, unemployment and food security would be addressed in order to alleviate the plight of citizens.

Source: News Agency of Nigeria

Only relevant govt. officials should travel for UNGA – Tinubu

President Bola Tinubu has directed that only government officials who have direct relevance to the United Nations General Assembly (UNGA) should travel as part of Nigeria’s delegation.

A statement by Ajuri Ngelale, Special Adviser to the President on Media and Publicity, disclosed that it was a broader effort to reduce the cost of governance in the country.

The president directed the Federal Ministry of Foreign Affairs to freeze the processing of visas for all government officials without proof of direct participation in UNGA’s official activities.

‘’To prevent any sharp practice in this regard, the U.S. Mission in Nigeria is accordingly guided on official visa processing while Nigeria’s Permanent Mission in New York is further directed to prevent and stop the accreditation of any government official who is not placed on the protocol lists forwarded by the approving authority.

‘’By this directive of the president, all Federal Ministries, Departments and Agencies are mandated to ensure that all officials, who are approved for inclusion in the UNGA delegation, strictly limit the number of aides and associated staff partaking in the event.

‘’Where excesses or anomalies in this regard are identified, they will be removed during the final verification process,’’ he said.

The president stressed that government officials and government expenditure must reflect the prudence and sacrifice being made by well-meaning Nigerians across the nation.

Source: News Agency of Nigeria

Security challenges: Badaru seeks professional advice from former Head of State, others

The Minister of Defence, Alhaji Muhammed Badaru, on Monday paid a courtesy visit on the former Military Head of State, Gen. Abdulsalam Abubakar, in his Abuja home.

Badaru also paid a courtesy visit on the former Chief of Defence Staff, Gen. Martin Agwai.

The minister’s visit to the duo was to seek for professional advice on how to tackle and accomplish the task ahead of him.

This is contained in a statement in Abuja on Monday, by Mrs Victoria Agba-Attah, Director, Press and Public Relations in the ministry.

Briefing the former Nigerian leaders, the minister said that his visit was in view of the task and responsibilities ahead of him in the strategic ministry.

He said in the light of that, it was imperative that he and his state counterpart consult and tap from the wisdom and wealth of their experience.

Badaru said that he would not relent in his efforts at wider consultations with elders and former Nigerian leaders on how to tackle the current security challenges facing the nation.

He commended the former Head of State, who was also the head of ECOWAS special envoy to Niger Republic for his gigantic efforts at restoring peace and overcoming the current political impasse in that country.

Abubakar, Nigeria’s former Military Head of State between 1998 and 1999 is a renowned elder statesman and a Peace Ambassador for ECOWAS and the United Nations.

Similarly, Agwai had served the nation at one point of his career as the Commander of the combined United Nations- African Union Peacekeeping Force in Dafur.

He also served as Chief of Staff and Chief of Defence Staff.

Both leaders commended President Bola Tinubu for appointing the minister, describing him as a great achiever.

They wished him a successful tenure as minister of defence.

Source: News Agency of Nigeria

Deputy Minister Kenneth Morolong: Presidential Youth Employment Intervention

Remarks by Deputy Minister in The Presidency Kenneth Morolong

Media briefing on the Presidential Youth Employment Intervention 28 August 2023

Members of the media,

Every year, about a million young people leave secondary school in South Africa – of these approximately 30% enter post-schooling education, another 10% find work, while 60% remain outside of employment, education or training.

We know that those young people who do manage to access opportunities tend to zig-zag on broken pathways, falling in and out of education and short-term work making it difficult for them to gain a foothold in the economy.

This situation calls for bold and urgent action.

It is for this reason that in his 2020 State of Nation Address, the President launched the Presidential Youth Employment Intervention (PYEI) as a direct response to the youth unemployment crisis.

The PYEI is a multi-stakeholder partnership that accelerates efforts to transition young people from learning to earning.

It is designed around young people and places strong emphasis on implementing what we know is effective in enabling these transitions.

This includes the following:

pathway management, which acknowledges that different groups of young people face very different barriers to productive earning and therefore require different types of support;

creating a direct link between skills development and demand in economy to unlock earning opportunities in growing sectors;

building mechanisms that enable local economies and support young people’s enterprises and self-employment and;

providing young people with paid community service and other temporary earning opportunities to gain experience, build their agency and contribute to their communities.

The PYEI recognises that the challenge before us cannot be addressed through isolated initiatives.

It brings together the strengths of numerous government institutions and social partners to open more pathways to earning for young people.

The Presidency’s Project Management Office (PMO) coordinates the intervention and provides strategic direction while key national departments and entities lead the implementation together with a diverse set of partners.

The desired impact is to contribute to a South Africa where young people are actively participating in the economy with greater dignity and a sense of agency over their contribution to society.

The PYEI has made significant progress to date with achieving this objective.

The National Pathway Management Network, a network of networks that aggregates opportunities into a single place and provides active support to young people to navigate pathways into the economy, now reaches more than 4 million young people.

Many of the young people who are joining the network through sayouth.mobi, face exclusion in the labour market.

The majority are young black women, a cohort we know experiences extensive barriers to accessing earning opportunities in the economy and requires targeted support.

Moreover, 73% of young people who responded to the question report that they attended poorer resourced quintile 1 to 3 schools and 65% report that they live in households where at least one member receives a social grant.

By connecting the sayouth.mobi platform to other platforms in the network such as the Department of Employment and Labour’s Employment Services South Africa (ESSA), JOBJACK and the National Youth Development Agency’s ERP platform, the National Pathway Management Network is providing young people with access to a wide range of opportunities across all partners.

Through this network, young people have been supported to access just over 1 million earning opportunities since the inception of the PYEI. This includes opportunities delivered through the Presidential Employment Stimulus, the revitalised National Youth Service and private sector efforts such as the Youth Employment Service.

Young people such as Timothy who first joined the sayouth.mobi as a school assistant in the successful Department of Basic Education Employment Initiative programme have been able to find other opportunities on the network.

After the DBE programme ended, Timothy discovered an opportunity to make his own money on SA Youth, by selling goods using a digital app called Qwili (link is external)and quickly becoming a top earner.

As we come to the end of Women’s Month, it is also critical to highlight how the PYEI is responding to the vulnerability young women continue to face.

The recent release of quarter 2 results of the Quarterly Labour Force Survey paint a grim picture of the state of women in the labour market.

Women are less likely to participate labour force compared men and those that do, face higher unemployment rates.

Of the young women aged 15-24 years, 36% are NEET compared to only 32.4% for young men.

The PYEI counters these effects by linking young women to programmes in the partnership such as the Basic Package of Support and the revitalised National Youth Service that provide targeted support and break down persistent barriers.

The Basic Package of Support reaches out to young people who are Not in Employment, Education, or Training (NEET) and offers face-to-face coaching to help them solve for the multiple challenges that are keeping them trapped in the NEET status.

We know that young women are especially vulnerable to this as they are are more likely to live in income poor households and to carry a heavier burden of care in the household.

This is the case for Michaela, a 21-year-old young woman from Atlantis, who joined the Basic Package of Support in June 2022.

Michaela’s primary goal was to pursue her studies, but she also felt a responsibility to care for and financially support her grandmother.

She initiated a job hunt and achieved success. After securing employment, her Basic Package of Support coach encouraged her to pursue broader ambitions for higher education.

Michaela applied for a Foundation Phase teaching course and was unfortunately not accepted.

She persevered, having developed a Plan B with her coach and is now pursuing her studies in Human Resource Management.

As these results highlight, a substantial amount of energy has gone into bringing young people into the National Pathway Management Network, where they are supported to access learning to earning opportunities.

With this foundation in place, the PYEI is now placing greater emphasis on transitions into sustainable earning opportunities.

This involves both unlocking demand in priority growth sectors as well as developing effective mechanisms to track young people’s movements through the labour market.

In addition, we are focusing our attention on two critical priorities for the remainder of the year to ensure the sustainability of the PYEI.

Our first priority is to secure funding for the PYEI over the medium term.

Our second is to review and enhance the institutional arrangements to continue to embed this intervention in government and enable effective partnerships with the non-state sector.

This whole of society approach to delivery is central to the PYEI partnership and it is working.

It is must be prioritised for funding to scale up its efforts and ensure its continuity over long term.

The results and stories from young people demonstrate that by creating pathways to the opportunities, the PYEI is restoring young people’s hope and dignity.

Thank you

Source: Government of South Africa

Call for increase in affordable rental housing stock

Human Settlements Minister, Mmamoloko Kubayi, has called on the City of Johannesburg to increase the delivery of social housing units.

This is in response to the ever-increasing public demand, further exacerbated by in-migration to the economic hub of Gauteng.

Kubayi made the call during a community engagement and the launch of the Riverside View Social Housing Project in Diepsloot, Johannesburg, on Friday. The launch included the handover of the completed 180 units to beneficiaries.

The Minister was accompanied by Gauteng Human Settlements MEC, Lebohang Maile and Johannesburg Mayor Kabelo Gwamanda.

The Minister also led the sod turning ceremony to mark the commencement of construction of Phase 3 of the project, a Ward 96 mixed-income development. The development is meant to address social, economic, and spatial integration and substantially contribute to providing affordable rental accommodation in Johannesburg.

During an on-site briefing, Kubayi was encouraged to learn that since July, over 9 000 applications for housing were received by the Johannesburg Social Housing Company (JOSHCO), which is an entity of the City of Johannesburg.

While substantial, the figure is not unique to the city noted the Minister, as the Housing Company Tshwane had in 2022, also revealed that it had received over 7 000 applications from potential tenants who had shown interest in the Townlands Social Housing Project.

“The demand for social housing is huge. As the government, mainly the City of Johannesburg and the Provincial Department of Human Settlements, working alongside the private sector, we must strengthen working relations to increase social housing units in the city and other areas to benefit communities,” she said.

The construction of Phase 3 is expected to commence in September 2023, and the Minister said it must be launched as soon as in January 2024.

Overall, the project is expected to deliver 1108 units on completion. It will cater for low-income families and individuals from various backgrounds, while also providing adequate and affordable, safe, and comfortable homes to qualifying applicants.

The Minister underscored that most people living in informal settlements do not qualify for fully subsidised government houses, as they fall outside the qualifying income bracket of R0-R3500.

“Thus, a need to provide them with decent and affordable accommodation, through a social housing programme that offers rental stock for those earning between R3501 and R22 000,” she said.

She added that “we have a Constitutional obligation to provide housing for all” while also calling on renters to pay their rent.

“This is a rental stock, not a rent-to-buy. By doing so, you will be assisting the government in working with the private sector to deliver more affordable rental units.”

Land identified for social amenities

Meanwhile, responding to community concerns about the lack of facilities in Diepsloot and surrounding areas, MEC Maile indicated that there are pieces of land that have been identified to provide social amenities, including schools and clinics.

Maile also outlined plans to further expand the scope to cater for more people, amidst an increasingly high number of people flocking into the province to seek better opportunities.

“Those people inevitably need a convenient and comfortable place to live, thus making it more urgent for private sector partners to come on board,” Maile said.

Government remains committed to delivering 18 000 units between 2019 and 2024. To date, over 11 000 units have been handed over to the rightful beneficiaries.

“The Department of Human Settlements is working with the Banking Association of South Africa (BASA) to de-risk potential beneficiaries who find themselves not qualifying for various housing opportunities because of their credit ratings,” Kubayi said.

The Social Housing Regulatory Authority (SHRA), an entity of the department and delivery agent for the Riverside View Social Housing Project, indicated that 14 projects in total have been completed and are ready to be handed over by the end of 2023. These account for 4700 units across the country.

Source: South African Government News Agency