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Home Blog Page 4787

Liz Truss’ Resignation and the Lesson from the UK

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FILE - Britain's Prime Minister Liz Truss attends a press conference in the Downing Street Briefing Room in central London, Friday Oct. 14, 2022. Truss has only been in office for six weeks. But already her libertarian economic policies have triggered a financial crisis, emergency central bank intervention, multiple U-turns and the firing of her Treasury chief. (Daniel Leal/Pool Photo via AP, File)

Liz Truss, the prime minister of the United Kingdom, is out. She joins an amalgam of leaders which are on rotating roll calls in Europe. Directly or indirectly, the war in Ukraine is architecting a new governance framework in Europe. If Russia had not attacked Ukraine, Boris Johnson would still be the PM of the UK. 

On this, we are learning many things: party philosophies mean nothing if they do not help citizens especially when the citizens are used to good living standards. You can preach the conversative constructs of low taxes embellished on libertarian individual liberty and free market  when you have abundance. But when there is scarcity in the land, suspicion comes when you do things which seem to favour the 1% over the 99%.

How do you cut tax for the rich when the internet has made it harder for the rich not to be making money faster? They have an organic virtuoso circle which produces wealth than they can spend. On that call, Ms Truss scored an own-goal; in this 21st century, cutting taxes for the 1% is an expired strategy even if it worked decades ago.

The bond market and the broad financial market pushed her out. When the pounds started bleeding, it was over. In the Igbo Nation, the elders have it that no man can cook for all his kindred, but when the kindred cooks for a man, he has no chance of finishing the food. The UK cooked for Ms Truss and she ran away today. 

Contrast that with Africa where leaders face minimal consequences for being poor in what they do. Liz’s resignation is a demonstration of the zenith of Britain’s mature democracy: the supremacy of the people over any human. Africa needs that prescription at scale as we have a disease which is more devastating than the political pandemic in the UK.

U.K Prime Minister Liz Truss has recently revealed that she is resigning from her position after spending about six weeks in office.

In her resignation speech, Truss disclosed that a contest would take place within a week, although the exact process for the contest is yet to be revealed, as it seems unlikely that there will be a repeat of the two-month marathon contest that followed the toppling of Boris Johnson.

While giving her speech Liz Truss said outside the 10 Downing Street, the official residence and the office of the British Prime Minister, she said, “I came into office at a time of great economic and international instability with a mandate to change this. Families and businesses were worried about how to pay their bills.

Who will come next? Penny Mordaunt and Rishi Sunak are potential candidates. But do not take out the most powerful man in UK politics now – Jeremy Hunt.  He saved the pounds

Liz Truss has resigned as prime minister, losing out to an iceberg lettuce purchased by the Daily Star in the battle to not wilt.

Truss was “elected” by the Conservative Party’s membership a mere 45 days ago, and formally made PM by the Queen on 8 September. In that time she has overseen the death of Queen Elizabeth II; the tanking of the British economy; and now her own demise, but could not surpass the challenge of outlasting a non-sentient lump of plant matter and water.

UK Prime Minister Liz Truss Resigns

 

Crypto Latest: BudBlockz (BLUNT), Avalanche & Neo Updates

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New and experienced crypto enthusiasts who regularly follow the latest industry news will have seen BudBlockz, Avalanche, and Neo dominate headlines in recent months. However, the notoriously volatile landscape can see prices and prospects change in very short periods of time. Therefore, keeping abreast of the latest updates is essential.

The following info can help investors who have considered buying – or selling – Budblockz (BLUNT), Avalanche (AVAX), and NEO make calculated decisions regarding their next steps.

BudBluckz (BLUNT) update: its pre-sale is thriving

Most crypto enthusiasts will have seen at least one analyst predict that BudBlockz will be a late candidate for the best token of 2022. While the BLUNT token is still yet to be officially released on the Uniswap platform, it is already growing very nicely thanks to its incredibly successful pre-sale phase.

Having initially opened as a private sale with tokens available at $0.015 before the allocation of 26,880,000 sold out, the BudBlockz pre-sale has now progressed to stage two. With over 38,000,000 tokens already sold to tens of thousands of investors, the price has already climbed to $0.026. A near 50% ROI for early investors is anticipated to only signal the start for a digital token that has already taken the marijuana industry by storm.

With the legalized marijuana sector growing at a phenomenal rate, the native coin of the BudBlockz platform looks certain to continue its success after its official launch. The capabilities of NFT-backed assets and fractional ownership ensure that BLUNT remains a key feature for businesses, investors, and consumers of both digital and real-world marijuana products. The fuse has already been lit and the price of BudBlockz looks to be on the path to an incredible explosion.

Avalanche (AVAX) update: AVAX joins the OpenSea

Like many cryptos that saw their price soar in 2021, AVAX has fallen in 2022 (from just over $100 to around $14) but it remains over four times the price it was at in January 2021. Moreover, it has retained its rank within the top 20 digital tokens on the market. Following the recent news that it is now available on the OpenSea NFT marketplace suggests that significant growth could follow before the end of the year.

AVAX becomes the seventh blockchain to be included on the OpenSea platform with over 10 native NFT projects confirmed. There are hopes that the added exposure can see AVAX projects break the top 100 NFT projects at some stage. If this does happen, the AVAX token could coattail that success to see a significant boost.

NEO update: fluctuating price opens door of opportunity

Just one week ago, NEO enjoyed a short-lived bull run that saw it surpass $8.70 for the second time within one month. While it has since dropped to below $7.50, a recovery to $7.60 suggests that it is moving in the right direction once more. In fact, price predictions have suggested it could climb to an average of $32 in 2023 before touching $40 in 2024.

Anyone who has traded NEO in the past five years may have seen lows of $0.11 and highs of over $187. Even in the past 12 months, the price has been over $120 but often sits far lower. With its current price sitting at nearly the lowest it has been in two years yet currently moving in the right direction, many investors will be looking for a low-volume purchase.

 

Learn more about BudBlockz (BLUNT) at the links below:

Official Website: https://budblockz.io/

Presale Registration:: https://app.budblockz.io/sign-up

Telegram Group: https://t.me/BudBlockz

Discord Server: https://discord.gg/s7hBFgvTmN

All BudBlockz Links: https://linktr.ee/budblockz

US Pledges Support of $1million to Cushion the Effects of Flooding on Affected Nigerians

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The United States has pledged $1million in relief fund to Nigeria to cushion the effects of the ongoing flooding on affected households and regions in the country as part of its humanitarian assistance to flood-ravaged regions.

The world power has made the commitment through the US Agency for International Development USAID to provide emergency shelter assistance, relief commodities, and hygiene kits to promote safe and healthy practices amid the ongoing cholera outbreak, and multipurpose cash assistance for people impacted by the devastating floods.

According to a statement from the U.S ambassador to Nigeria, Mary Leonard, the US regrets the effects of the unusual rainfall and will not renege on its obligation of providing humanitarian assistance across flood-ravaged areas. The statement goes thus:

“We are filled with grief for the flood victims who have lost so much – livelihoods, homes, and even loved ones.

“The United States continues to stand with the people of Nigeria during this extremely difficult time

“The unusually heavy rainfall and resulting flooding have affected nearly 2.8 million people across the country. In addition, many homes have been damaged or destroyed, displacing millions of people.

“The floods have exacerbated an already critical humanitarian situation in Nigeria, where ongoing conflict, especially in the northern region, has driven millions of people from their homes. In the same region, more than 4 million people are projected to continue experiencing acute food insecurity amid the worsening global food crisis. We are also concerned that standing floodwaters could increase the risk of cholera and other waterborne diseases in Adamawa, Borno, and Yobe states, where cholera outbreaks were declared in August and September and at least 7,750 cases were recorded. In 2022, 31 out of 36 states reported cholera cases.

“The $1 million in new USAID support will allow local partners on the ground to provide emergency shelter assistance, relief commodities, and hygiene kits to promote safe and healthy practices amid the ongoing cholera outbreak, and multipurpose cash assistance for people impacted by the devastating floods.”

 

Join Tekedia Capital and Get the Best of Nigeria Start-up Act

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The Nigeria Start-up Bill is now law. Yes, the Nigeria Start-up Act is here. Tekedia Capital will be with innovators, builders and investors, to build and deepen that fertile ecosystem of innovation. At Tekedia Capital, we have amazing farmland to grow and nurture unicorns (a special type of startups with valuations of at least $1 billion).

We invite you to visit Tekedia Capital and explore how we can work together to  make that Act to live up to its lofty promises. We have an active cycle going on now; you are invited here to join.

You can read about the ACT here.

10 IMPORTANT AREAS THAT THE START UP ACT 2022 COVERS:

  1. Special certification for startups.
  2. Seed Fund for Startups.
  3. Tax Incentives.
  4. A Bridge between Regulatory bodies & Startups.( CAC, NCC, NOTAP, SEC, CBN, NEL, TRADEMARK, PATENT AND DESIGN REGISTRIES).
  5. Incubation Programmes.
  6. Legal Framework.
  7. Institutional Framework ( National Council for Digital Innovation and Entrepreneurship).
  8. Training Program for Talents.
  9. Tech friendly environment.
  10. Strategic Positioning of the Nigerian startup Ecosystem

Flooding Still a Problem in Nigeria Despite Over N1trn Emergency Management Allocations: Presidency Charges Governors On Accountability

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Flooding has become a perennial problem in Nigeria and has taken a major toll on the nation’s economy. This year, several hundreds of death cases including mass destruction of property and displacement of persons have been recorded in the country due to flooding.

Though the effect has been unprecedented, the occurrence of flooding this year has not been unexpected. Earlier this year, the National Emergency Management Agency had predicted that not less than 22 out of 36 states in Nigeria including the federal capital, Abuja would be affected by flooding this year. How the Government has been able to respond to the crisis still leaves much to be desired.

Therefore, many indigenes of the mostly affected regions, especially Benue and Kogi states in the North-Central as well as Bayelsa, Rivers and Delta in the South-South have vehemently hounded the Federal Government for its tardiness in extending palliatives and relief materials to victims of floods forced out of their homes and left without shelter, food and potable water.

In response to the above, the Presidency has stated that over one trillion Naira has been allocated to all states from the Ecological Fund to tackle floods and other ecological problems, and it has challenged state and regional governments to give account of how they’ve been able to use disaster-management funds which have been allocated to them in the last three years.

The Federal Government in a statement it released on Wednesday has also said that contrary to popular belief, the release of water from the Lagdo Dam in Cameroon was not responsible for the large-scale flooding in Nigeria.

According to a news report by the Vanguard, roughly N1 trillion, that is 2.2 per cent of the total budget for 2018, 2019 and 2023 was budgeted for ecological and disaster management. In 2018, 2.2 per cent of the estimated of N9.120 trillion budget, amounting to N198 billion was set aside for the Ecological Fund; in 2019, the 2.2 per cent amount of the budget of N132 billion was allocated for the Fund, while in 2023, 2.2 per cent of the N21 trillion budget indicated  N462 billion allocation for Ecological Fund.

The report shows that a search of the website of the Ecological Fund Office for details of accruals and monthly/ quarterly releases to states and federal agencies did not yield the desired results. Similarly, a search of the budget implementation report leaves much to be desired.

“The House of Representatives had since June, launched a probe into the utilization of the fund for the past 10 years. This is not the first time such a probe is taking place in the National Assembly” the Vanguard stated.

The Presidency has therefore expressed indignation over how public attention has consistently been on the Federal Government instead of the states and regional governments that have received the chunk of the ecological funds set aside for disaster management.

The Presidency also reiterated the need for state governors to own the responsibilities of their offices by responding to the needs of their citizens in the face of growing floods and other ecologically-related disasters.