News
Centre Laments World Bank Report On Nigeria, Demands Freeze On Borrowing
Published
2 years agoon
By
Editor
The Centre for Fiscal Transparency and Integrity Watch (CeFTIW) has expressed concerns over Nigeria’s fiscal condition.
The organisation wants a freeze on borrowing for consumption purposes, demanding loans obtained be channelled to capital projects and the production sector.
A statement on Thursday by Public Relations Officer, Victor Agi reacted to the latest World Bank Macro Poverty Outlook for Nigeria.
It described the nation’s fiscal condition as “a more fragile position than before the late 2021 global oil price boom,” and put the poverty rate at 41.1%.
READ ALSO: Oil-producing States Borrow N1.3tn Amid N6.4tn Windfall
The report revealed that 96.3 percent of the revenue generated in 2022 was used to service debt, worsening the public debt profile.
The CeFTIW called for the suspension of the federal government’s move to borrow $800 million to distribute as a palliative to cushion the effect of subsidy removal.
Agi noted that adding more to the country’s debt stockpile will continue to frustrate meaningful efforts to grow the economy.
Nigeria’s debt was $103.11 billion or N46.25 trillion as of December 2022, according to figures by the Debt Management Office (DMO).
READ ALSO: Buhari To Borrow N819.5 Billion To Finance 2022 Supplementary Budget
The figure may hit N77 trillion by the end of the Buhari administration if the Ways and Means Advances from the Central Bank of Nigeria (CBN) and other loans included.
“The Centre is bothered by the consistent revenue shortfalls. Despite the deregulation of the oil sector, the cost of petrol imports continues to rise with no solution in sight.
“This is amidst promises of revamping refineries to boost local production. The inability to address the lingering cases of oil theft, diversify the economy, and monetary policy somersault has put the country on edge.”
The statement said it was against further borrowing after assessing Social Investment Programmes (SIPs) such as the COVID-19 stimulus package, which reportedly gulped N2.3 trillion.
READ ALSO: DMO Clarifies Alleged N2trn FG Borrowing
It also listed Tradermoni, Conditional Cash Transfer (CCT), Government Enterprise and Empowerment Programme (GEEP) and school feeding.
The SIPs reportedly cost Nigeria about $1 billion annually, according to the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq.
“The fact that there has been no commensurate impact on the living standards of Nigerians puts the transparency and accountability of the programmes into question.
“Citizens doubt the planned payment of N5,000 to 10,000 households, over a period of six months with the new loan, will be any different from previous interventions,” Agi noted.
The CeFTIW further demanded fiscal prudence in government activities and the entrenchment of strong measures to curb corruption and resource wastage.
You may like
News
Textile, Garment And Tailoring Workers Assault Journalists In Edo
Published
5 hours agoon
September 16, 2025By
Editor
Some members of the National Union of Textile, Garment and Tailoring Workers of Nigeria (NUTGTWN), Edo State branch,
on Tuesday, assaulted journalists who were invited to their secretariat to cover their meeting.
Deputy General Secretary of the NUTGTWN, Comrade Emeka Nkwoala, invited the journalists to the secretariat of the body to get the outcome of a meeting he was directed to hold with them following the resignation of the branch chairman, Mike Ochei from the Caretaker Committee, and the suspension leadership of the union in Edo State over his resignation.
The Caretaker Committee was set up by the leadership of the Nigerian Labour Congress (NLC) to resolve the crisis and conduct election into the state leadership of the Congress.
Ochei, while resiging was quoted to have said that he was coerced into the membership of the caretaker committee, hence his resignation.
READ ALSO: Edo Deputy Gov Tasks Lab Scientists On Research, Vaccine Production
Trouble, however, started, when, after the journalists introduced themselves inside the hall, and as Nkwoala about to talk, some of the members of the body started shouting ‘we don’t need press,’ it is an internal affair, they must leave,’ which was followed by some of the union members physically assaulting the journalists. One of the members poked his hands into the eyes of one of the reporters, while they used derogatory words on them.
Addressing journalists after the uproar that followed the meeting, Nkwoala said Ochei was contacted and informed before he was nominated to serve in the NLC committee, stressing that it was, therefore, wrong for him to have claimed that he was coerced into the committee.
He, thereafter, apologised to journalists who were harassed by some members of the union.
READ ALSO:Nigerian Jailed In US Over $6m Inheritance Fraud
Nkwoala said: “I want to apologise on behalf of our union, we are a matured union, we hold the press in high esteem and we relate very well with the press. From the inception of our union, our past leaders didn’t joke with the press. Is it Comrade Adams Oshiomhole, Comrade Issa Aremu or the current General Secretary Comrade Ali Baba? We don’t joke with the press. We apologise for the embarrassment that our members caused you. We are not known for such.
“The state of our union right now in Edo State is that we have suspended the Mike Ochei led state exco. They are on suspension till further notice. That was the resolution we reached with the various chairmen of the zones in Benin City today, it was also the resolution of our National Administrative Council (NAC) of our Union via our zoom meeting yesterday (Monday). So they cannot represent the NUTGTWN anywhere in whatever capacity.”
On the way forward for the crisis in Edo NLC, he said: “Our allegiance is to the national leadership of the NLC ably led by Comrade Joe Ajaero and the Professor Monday Igbafen led caretaker committee. We believe that the leadership of the NLC has machinery in place to deal with some of these issues, for us we are part and parcel of the NLC and we will continue to pay our allegiance with the leadership of congress led by Comrade Ajaero.”
News
Edo Deputy Gov Tasks Lab Scientists On Research, Vaccine Production
Published
8 hours agoon
September 16, 2025By
Editor
Deputy governor of Edo State, Hon. Dennis Idahosa, on Tuesday, urged the Association of Medical Laboratory Scientists of Nigeria (AMLSN), to go into deep research, and channelled scientific findings to boost public health.
Idahosa also urged the scientists to set up a vaccine manufacturing company in Edo State.
The deputy governor spoke when he played host to the state chapter of AMLSN, saying “as we speak, we still do not have a vaccine manufacturing company or industry in the whole of Nigeria. That, to me, is worrisome.”
READ ALSO:Idahosa Lauds Edo Specialist Hospital Facilities
Idahosa, who hosted the scientists on behalf of Governor Monday Okpebholo, added: ” This is the heartbeat of the nation. I think we should roll up our sleeves and do what other states in this country have not done before. Let Edo be the beginner.”
He appreciated the laboratory scientists on the courtesy visit, just as he commended them for their contributions and medical interventions, which he said had given a boost to the public health sector delivery system in the state.
Making reference to the campaign manifesto and five point SHINE Agenda of Okpebholo, Idahosa affirmed that, “after security, health is number two. We are laying so much emphasis on health. Edo State is going to be happy with what we are going to do with the health sector.”
READ ALSO:2027 Presidency: Idahosa Reiterates Okpebholo’s Promises Of Delivering Edo To Tinubu
Idahosa assured the scientists that he was going to work closely with “the think tanks in the health sector based on raised areas of needs,” as “government would look at the best way to proffer solution to some of these challenges.”
State Chairman of the AMLSN, Dr. Ekhaguere Ehigie who earlier congratulated the Edo State Government for victories at the polls and in court, highlighted issues that plagued laboratory practice in Nigeria.
He advocated the setting up of modern molecular laboratories and use of Nano technology to boost disease diagnosis, accurate laboratory results and monitoring/surveillance of public health.
News
10 Things Candidates Should Know About Customs Recruitment CBT Exams
Published
8 hours agoon
September 16, 2025By
Editor
The Nigeria Customs Service has issued detailed guidelines to shortlisted candidates ahead of its computer-based test for the ongoing recruitment exercise.
This was contained in a statement obtained by The PUNCH on Tuesday.
The service emphasised that the CBT would be strictly monitored and advised candidates to take note of all instructions to avoid disqualification.
According to the NCS, here are 10 key things applicants must know
1. Test will be online
The service explained that the CBT would be conducted virtually, allowing candidates to write the exam from any location as long as there is reliable internet access. It added that those without personal devices could make use of internet-enabled computer centres.
READ ALSO:UK Bars Over 100 Job Roles From Foreign Recruitment To Curb Migration
2. Mobile phones not allowed
Applicants were warned against attempting to use mobile phones for the exam, as the platform does not support such devices. Only laptops and desktops that have webcam capability and allow full-screen display will be accepted.
3. Facial verification required
The NCS stated that a mandatory facial recognition process would be carried out during login. Candidates were urged to prepare accordingly, as their faces must match the details already provided during registration.
4. Avoid untidy appearance
The mail advised applicants to ensure their facial presentation is clear and uncluttered, stressing that “clumsy facial looks” might hinder the smooth operation of the verification system.
5. Sensitive to noise and movement
The CBT application is programmed to detect unusual behaviour. Candidates were cautioned to sit still and maintain focus throughout the test. The system, it warned, could log out those who make excessive body movements or create noise.
READ ALSO:Customs Seizes N13.5bn Worth Of Illicit Drugs At Onne Port
6. No distractions allowed
Beyond movements, the service also warned against writing the exam in noisy environments. It explained that whispering or background disturbances may be picked up by the system and interpreted as malpractice.
7. One window at a time
Applicants must remain on a single screen throughout the exam. Switching from one window to another, even briefly, could be flagged by the application as an attempt to cheat.
8. Pre-test before main exam
To familiarise candidates with the system, the service said there would be a compulsory practice session two days before the actual test. This, it added, would enable applicants to understand how the application works and reduce errors on the exam day.
9. Two links for candidates
The NCS explained that applicants would receive two separate links: one to access the pre-test and another for the main CBT on a different date. It urged candidates to use the correct link on the assigned day.
READ ALSO:Customs Intercepts N1.7bn Falsely Declared Goods Across South-West Zone
10. Extra test for Superintendent cadre
The mail noted that those who applied for the Superintendent cadre (Level 8) would undertake an additional CBT in the next phase of the recruitment. However, this requirement does not apply to candidates seeking positions in the Inspectorate and Customs Assistant cadres.
The service said that applicants who scale through all stages would be invited for a final screening.
According to The PUNCH, 286,697 candidates were shortlisted for the CBT stage, with the NCS directing all applicants to validate their email addresses as part of the process.
- Textile, Garment And Tailoring Workers Assault Journalists In Edo
- Serbia Indicts Ex-minister, 12 Others Over Train Station Tragedy
- Kazakhstan Bans Forced Marriage, Bride Kidnapping
- Russia Arrests Woman For Detonating Bomb On Railway
- Customs Unveil E-clearance Platform To Decongest Apapa Port
- EPL: Newcastle Cancels 103 Season Tickets Over Resale Breach
- DSS Sues Sowore, X, Meta Over Anti-Tinubu Post
- Israel Begins Ground Offensive In Gaza Despite International Criticism
- NAPTIP Rescues Eight Stolen Children From Delta Orphanage
- Edo Deputy Gov Tasks Lab Scientists On Research, Vaccine Production
Trending
- News5 days ago
JUST IN: Resident Doctors Begin Five-day Warning Strike Today
- Business4 days ago
Dangote Refinery Reduces Fuel Price Nationwide, Provides Update On Petrol Distribution
- Politics5 days ago
2027: Jonathan, Obi Hold Closed-door Meeting
- News4 days ago
VIDEO: Hilda Baci Washes Giant Pot Ahead Of Record-breaking Jollof Rice Attempt
- Entertainment4 days ago
Why I Cooked 200 Bags Of Rice Instead If 250 — Hilda Baci
- Politics3 days ago
2027: Details Of Jonathan, Peter Obi Meeting Emerge
- Sports4 days ago
Enabulele Applauds Team Edo Deaf Athletes For Performance At W’Africa Championship
- Business5 days ago
NUPENG Accuses Dangote Of Breaching Agreement, Says Nationwide Strike Inevitable
- Entertainment3 days ago
Drama As Hilda Baci’s Jollof Pot Falls After GWR Attempt
- Entertainment2 days ago
200-level Student Wins Car As MTN Thrills UNIBEN With Campus Invasion