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Things Buhari Needs To Do To Get Nigeria Out Of Recession – Bukola Saraki

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8 years ago

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Saraki

Bukola Saraki

The Senate through Bukola Saraki has released a statement consisting of a list of things the government needs to to inorder to facilitate inclusive growth in all sectors and help Nigeria get out of recession

See the statement below:

1. The executive should forward an Economic Stimulus Bill containing all the fiscal stimulus packages, investments and incentives which will receive accelerated consideration and passage at the National Assembly.
2. The fiscal and monetary authorities must harmonise all policies that lower interest rates for investors in the real sector and small/medium scale farmers.
3. The government should adopt peaceful means in the Niger Delta to restore Nigeria’s oil production back to 2.2 million barrels per day.
4. The release of low interest funding under the stimulus package should be targeted at the following areas.
Social Safety Programmes
Humanitarian Activities in the North East
Power Generation
Agricultural value chain
Textile manufacturing
National highway network construction and maintenance
Railway construction and maintenance
Motor vehicle assembly plants
Completion and commissioning of Ajaokuta Steel Complex
Arts, Science and Technology
5. The President should appoint a Senior Special Adviser to lead the government engagement with the aggrieved Niger Delta Militants to ensure the protection of Nigeria’s oil and gas assets.
6. The Federal Government should negotiate foreign concessionary borrowing agreements to cover shortfalls in the 2016 budget and the government’s accelerated infrastructural development programme.
7. The Federal Government should restrict and cap the issuance of bonds and treasury bills in order not to crowd-out local investors from the market.
8. The Federal Government should ensure the payment of all genuine domestic debts owed to local contractors who have completed their jobs.
9. The Federal Government should settle all salaries and pension liabilities.
10. The Federal Government should leverage the use of pension and insurance funds to provide long-term capital on lending for agriculture, industry and housing projects.
11. The Executive should reconstitute the Board of the Central Bank of Nigeria (CBN) and all other critical agencies in order to ensure that they operate in accordance to their enabling laws.
12. The Legislature (through law) and the Executive (through policies) must take action to encourage telecommunications companies to float their shares in Nigeria’s stock market.
13. The Fiscal Responsibility Act should be used to encourage States and Local Govenrments to be more prudent and accountable in their revenue and expenditure agreements.
14. Cases involving unaccounted oil exports should be pursued vigorously to logical conclusions.
15. The Federal Government should immediately set-up an ad-hoc committee for the reconstruction of the North-East and the rehabilitation and resettlement of all Internally Displaced Persons.
16. The President should consider establishing a Council of Economic Advisers made up of experts in economic management.
17. The Federal Government should establish a platform for pro-business-oriented leadership-level engagement to boost market confidence.
18. The Federal Government should retool its export promotion policy scheme with export incentives like the Export Expansion Grant (EEG) and the export financing initiatives.
19. The National Assembly will institute a legislative framework with timelines for key government policies in the area of agriculture and solid minerals to boost investor confidence in government – and to protect investors from rapid policy reversals.
The National Assembly will examine, prioritise and fast-track the consideration of the following bills to revive Nigeria’s economy:
Petroleum Industry Bill
National Development Bank of Nigeria (Establishment) Bill
Nigerian Ports and Habours Authority Act (Amendment) Bill
National Road Fund (Establishment) Bill
National Transport Commission Act of 2001
Warehouse Receipts Act (Amendment) Bill
Companies and Allied Matters Act (CAMA)
Investment and Securities Act (ISA)
Customs and Excise Management Act
Federal Competition Bill
National Road Authority Bill
20. The National Assembly will immediately commence sustained oversight to monitor the activities of the Executive in the implementation of the 2016 Budget.
21. The National Assembly will continue to engage the Executive to create the necessary synergy on all economic and social interventions that are capable of bringing succour to Nigeria.
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Juventus ordered to pay Ronaldo €9.7m unpaid salaries

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14 hours ago

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April 18, 2024 10:01 am

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Juventus must pay Portuguese star Cristiano Ronaldo 9.7 million euros ($10.4 million) in back wages for the 2020-21 season, the Italian courts announced on Wednesday.

The Court of Arbitration, to which Ronaldo appealed, “orders Juventus Turin to pay the sum of 9,774,166.66 euros”, plus interest and procedural costs, it stated in its decision.

The sum equates to the difference between the salary actually received by Ronaldo and that which he should have received after tax and other deductions.

Ronaldo, who spent three seasons in Italy with Juventus (2018-21) before joining Manchester United (2021-22) and then the Saudi club Al Nassr, was claiming 19.5 million euros but the arbitration panel reduced that by 50 per cent.

Contacted by AFP, Juventus declined to comment, but said it would be issuing a statement “shortly”.

According to the rankings drawn up by the American business magazine Forbes, the five-time Ballon d’Or winner was the world’s highest-paid sportsman in 2023, with $136 million, including $46 million in wages.

Juventus, who are listed on the stock exchange, recorded losses of 123.7 million euros in the 2022-23 financial year, which ran to the end of June, it announced in October.

No provision has been made in the accounts of Italian football’s most successful club, currently third in Serie A, for the payment of this wages backlog.

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Sports

EPL to adopt semi-automated offside technology next season

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5 days ago

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April 13, 2024 12:19 pm

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The English Premier League (EPL) says semi-automated offside technology will be used in matches from next season.

The league announced the decision in a statement on its website on Thursday.

The decision was made after a unanimous agreement by all the clubs at a Premier League Shareholders’ meeting.

The technology will be ready for use from the 2024/25 season after the autumn international breaks.

“The new system will be used for the first time in the Premier League next season, and it is anticipated the technology will be ready to be introduced after one of the autumn international breaks,” the statement reads.

“The technology will provide quicker and consistent placement of the virtual offside line, based on optical player tracking, and will produce high-quality broadcast graphics to ensure an enhanced in-stadium and broadcast experience for supporters.”

The first usage of the semi-automated offside technology in top-level football was at the 2022 World Cup in Qatar.

The offside rule has been subjected to change in recent years, with the video assistant referee (VAR) technology also deployed to assist the on-field officials in checking for offside calls leading to a goal.

The EPL further updated its offside rule in the summer of 2023 to include that “a player who is clearly offside should not become onside on every occasion when an opponent moves and touches the ball.”

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Sports

Nigerian chess master, Tunde Onakoya sets to break Guinness World Record

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5 days ago

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April 13, 2024 12:17 pm

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Nigerian chess master, Tunde Onakoya has revealed plans to break the Guinness World Record for the longest chess marathon.

Onakoya who made the plan known on his X account on Friday said that he is “doing this for the dreams of millions of children across Africa without access to education.”

He added that the attempt will hold on April 17th at the New York City’s Times Square and he is to play chess for 58 hours without a single defeat.

He wrote, “On the 17th of April 2024, I will attempt to break the Guiness World record for the longest Chess marathon in the heart of Times Square New York City for 58 hours without losing a game. Doing this for the dreams of millions of children across Africa without access to education.”

Onakoya disclosed that the attempt will start at 10am and would be available for all to stream on YouTube.

He appealed to Nigerians residing in New York, urging them to come forward and provide their enthusiastic support as he strives to establish a new world record.

Tunde Onakoya is renowned for his philanthropic efforts, notably utilizing chess as a tool to offer opportunities for young people residing in the marginalized areas, often referred to as ‘slums,’ within the country.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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