Sudan war: First batch of Nigerians arrive Abuja
The first batch of Nigerian students fleeing the war in Sudan arrived at Nnamdi Azikiwe International Airport, Abuja.
About 270 Nigerian students came in courtesy of Air Peace, while a NAF C-130H jet carrying about 80 people also touched down moments later.
Their arrival comes a week after assurances were made by the Federal Government to airlift Nigerians stranded in the war-torn country.
Senate approves restructuring of N22.7tn loan request
The Senate on Wednesday approved the restructuring of the N22.72 trillion in ways and means advances. The approval comes as the upper legislative chamber makes efforts to avoid a government shutdown.
The approval came at plenary session after considering a report from its ad hoc committee, which noted that the federal government repeatedly borrowed from the central bank of Nigeria, exceeding the five percent threshold of the previous year’s revenue as stipulated by the CBN Act.
Agenda 2050: FG targets $33,000 per capita GDP, 165m new jobs
President Muhammadu Buhari said on Wednesday that the implementation of the Nigeria Agenda 2050 would “ensure that Nigeria attains a per capita GDP of $33,328 per annum to place her among the top middle-income economies globally by 2050.”
Buhari made this declaration in Abuja at the launch of the Nigeria Agenda 2050 and said that the project would achieve the following: create 165 million new jobs, reduce the number of Nigerians living in poverty to 2.1 million in 2050 from the 83 million estimated in 2020, and increase real GDP growth by seven percent.
The launch of this project took place shortly before the kickoff of this week’s Federal Executive Council meeting held at the Council Chambers of the Presidential Villa, Abuja.
Buhari said, “The plan we are launching today has a vision of a dynamic, industrialised, and knowledge-based economy that generates inclusive and sustainable development for the country.
“The broad target is to ensure that Nigeria attains a per capita GDP of $33,328 per annum that will place her among the top middle-income economies in the world by 2050.
“I am confident that given the measures already in place for continuous planning implementation, successive administrations will find the document useful in delivering electoral promises.”
Lasaco Assurance gross premium income hits N13.91bn
Lasaco Assurance Plc’s gross premium income rose to N13.91 billion in 2022 from N10.96 billion in 2020, a statement from the company said.
The company said that the results showed sustained and steady growth over the past three years.
It said, “This positive development is reflected in the company’s gross premium income, which surged from N10.96 billion in 2020 to N13.91 billion in 2022, signifying an increased ability to attract a larger customer base and generate more revenue.”
Razzaq Abiodun, the managing director of Lasaco Assurance Plc, said that claims payment played a crucial part in its business operations last year, helping the company attract more businesses and new-to-business clients.
IMF sees uncertainty over Japan’s monetary policy, spillover globally
The International Monetary Fund on Thursday warned of “uncertainty” around the direction of Japan’s monetary policy, saying a possible shift from ultra-low interest rates could have a significant impact on global financial markets.
Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, also pointed to risks surrounding Asia’s economic outlook including from weakening exports to advanced economies, slowing productivity in China and a fragmentation of global trade.
“Over the medium term, we expect the Chinese economy to experience a slowdown in productivity and investment, which will lower growth below 4 percent by 2028,” he said.
“In addition, we see a risk that the global economy fragments into trading blocs,” which could deal a particularly heavy blow to export-reliant Asia, Srinivasan said in a briefing at the Asian Development Bank’s annual meeting in Incheon.
While most Asian central banks must keep tightening monetary policy, Japan remains an exception with inflation still moderate – though this could change. (Reuters)
