DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 5211

IPAC And United Nations Express Worry Over Nigeria 2023 Polls

0

As preparations are on top gear towards the 2023 polls in Nigeria, political parties in the acclaimed Africa’s giant had stated that the coming general elections were critical to sustaining the country’s democracy, just as the United Nations (UN) had expressed worry over voter apathy being currently observed.

These views were expressed on Tuesday when the UN Electoral Needs Assessment Mission (ENAM) met with the leadership of the 18 registered political parties on the platform of Inter-Party Advisory Council (IPAC).

The leader of the UN delegation and head of mission, Mr. Serge Gakwandi Kubwimana notified the gathering that they were in Nigeria to assess the level of preparations for next year’s election and the areas the UN’s ENAM would provide support.

He said the delegation would consult with members of the National Assembly, security agencies and the political parties on the preparation and the challenges for the impending elections.

Mr. Kubwimana, who raised the concern over the low level of voter participation in previous elections in the country, however enthused that Nigeria was quite experienced in electoral matters and had introduced some reforms in the electoral process.

He explained that the UN Mission renders technical assistance by strengthening the capacity of the relevant organs for any election.

      In his welcome address, the National Secretary of IPAC, Alhaji Yusuf Dantalle, said the Council would need the assistance of the UN Electoral Mission in capacity building of political party leaders to equip them for transformational leadership and enhance parties’ internal recruitment process, which would produce credible leaders with the people’s mandate to govern.

Alhaji Dantalle, who stood in for the National Chairman of IPAC, also informed that the Council would embark on massive sensitisation, advocacy, enlightenment and mobilisation of the electorate at grassroots level across the country towards addressing the level of apathy among the voters.

He said free, fair, credible, transparent, inclusive, peaceful and acceptable elections are the beauty and bedrock of democracy. Hence, further stated, “The forthcoming general election is critical for sustainable democracy in Nigeria.

“We are pleased that a delegation of the United Nations Electoral Needs Assessment Mission led by Mr. Serge Gakwandi Kubwimana is in Nigeria to have an on-the-spot assessment of our preparation for this critical general election.

“The success of the elections will be a defining moment for our fellow compatriots who desire and yearn for transformational, visionary, progressive, purposeful and resourceful leaders who will restore Nigeria as the great arsenal of democracy in Africa.

He went ahead to assert, “As the umbrella body of the 18 registered political parties in Nigeria, IPAC played a major role to ensure the 2022 Electoral Act Amendment Bill that would provide the legal framework for the general election was passed by the National Assembly and signed into law by President Muhammadu Buhari.

“It added value to the electoral process with the adoption of an improved technology, the Bimodal Voter Accreditation System (BVAS) and uploading of election results in the INEC’s Result Viewing portal (IReV) when voting ends and votes are counted at polling units on election day, among others.

“The Council will continue to engage stakeholders particularly the National Assembly for further reform of the electoral process including the scrapping of the State Independent Electoral Commissions (SIECs), as Nigerians have lost confidence in their ability to conduct free, fair, credible and inclusive elections at the grassroots level.

The IPAC leader opined that polls conducted by various SIECs in the country were mere charades with predetermined outcomes that make mockery of Nigeria’s democratic encounter.

Therefore assured that IPAC would boycott these electoral jamborees by state governments in power, which have impeded the nation’s democratic advancement at the grassroots, hence demanded that their functions be carried out by the Independent National Electoral Commission (INEC), as he added that the IPAC supports Local Government autonomy as the third tier of government closest to the people.

In my opinion, if the IPAC is truly ready and prepared to ensure the conduct of free, fair and credible elections in Nigeria come 2023, it must go beyond partisanship in its daily struggle as regards the polls.

It’s noteworthy that aside from the UN, other international bodies are willing to partner with any concerned and relevant entity in regard to the awaited general elections, but it’s imperative to express the need for the local bodies to remain neutral and non-partisan as they carry out the national assignment.

Hence, for the impending 2023 polls to result in a wholesome outcome, all hands are expected to impartially be on deck as the odyssey progresses.

The Easter’s Equation of Infinite Grace

0

Oh Lord, it’s Easter

We’re living the grace – the amazing and abiding grace.

As you send your angels on assignments today

Lord, we are here.

 

As you send them to bless men and women

Father, our hands are raised up.

In the deepest of the night, and the brightest of the day

Our hope remains on Thee

And we’ll rise with Him.

 

Father, thou took us out of the miry clay

Into  thy greener pasture.

The ills of societies will find no strength in us.

As you give us wisdom to walk your path

In thy bosom, we will dwell.

 

Thy dew is mild, oh Lord

Thy oil soothes the nations

Thou ruleth with thy wisdom.

David made joyful noise with cymbals and flutes

Our lives will be thy praise and joy.

 

Protect us. Preserve us. Keep us.

Bless us – and elevate us

For thou victory is certain.

Thou solved our Problems

When thou divided them with zero on His Death

It’s Easter, the Day of Resurrection

And our Grace is now Infinite.

 

Good People, let the resurrection power catapult you into His pastures where you will experience infinite abundance in his vineyard. As we say in the Scripture Union, you will have better praise this year and more.

Twitter Adopts The ‘Poison Pill’ on Elon Musk’s Bid

0

On Friday, Twitter adopted the “poison pill” in a bid to combat Elon Musk’s bid for a hostile takeover. Musk became the highest Twitter shareholder earlier this month, and subsequently made a $43 billion bid to buy the social media platform after rescinding his earlier decision to join the board.

The move has ignited a chain of reactions around the world. Musk said his aim is to take Twitter private, enable free speech on Twitter, and make it thrive. The SpaceX CEO, earlier this month, floated the idea of a social media platform where free speech is guaranteed.

But Twitter board was quick to put out a measure to prevent the possibility of a total takeover by limiting Musk’s ability to amass more shares as a board member, forcing him to turn down his appointment as a board member.

“Twitter today announced that its Board of Directors has unanimously adopted a limited duration shareholder rights plan (the “Rights Plan”). The Board adopted the Rights Plan following an unsolicited, non-binding proposal to acquire Twitter,” The company announced in a statement.

Poison pill, which is also known as shareholder rights plans, typically trigger an automatic stock dilution through a flood of new shares if a corporate raider’s ownership stake grows too large.

Adopting the “rights plan” means Twitter will flood new shares if any person or group buys at least 15% of Twitter’s stock in a purchase that is not approved by its board.

Twitter said the plan, which will expire on April 14, 2023, is intended to enable all shareholders to realize the full value of their investment in Twitter.

“The Rights Plan will reduce the likelihood that any entity, person or group gains control of Twitter through open market accumulation without paying all shareholders an appropriate control premium or without providing the Board sufficient time to make informed judgments and take actions that are in the best interests of shareholders,” it said.

This means, if triggered by such a purchase, the plan would give other shareholders the right to buy additional shares of Twitter’s stock at a discount, diluting Musk’s shares and reducing the influence he may have through higher shares.

Twitter said the “Rights Plan” does not “prevent the Board from engaging with parties or accepting an acquisition proposal” if the Board believes that it is in “the best interests of Twitter” and its shareholders.

Musk had pushed for his bid to be decided by Twitter shareholders, not the board. But Saudi Arabian Prince Alwaleed bin Talal, a long-term Twitter shareholder openly criticized the bid, said the offer doesn’t come close to Twitter’s value and thus rejected it.

On Thursday, asset manager Vanguard Group increased its stake to 10.3 percent of Twitter, overtaking Musk who owns a 9.1 percent stake of the company. A move believed to have been part of Twitter’s plan to stop Musk.

Super Eagles Failure To Qualify For Qatar 2022 World Cup – A Need To Develop Grassroot Football In Nigeria

0

A lot of Nigerians were left in a state of hopeless despair when the super eagles of Nigeria failed to qualify for the 2022 FIFA World Cup which will be held in Qatar. After their last decisive qualifying match where they lost to Ghana, Nigerian fans stormed the pitch after the match in anger, causing chaos as well as destroying facilities.

Such a callous act was uncalled for, but it however showed how infuriated the fans were, knowing full well that they won’t get to watch the super eagles play at the world cup. I also didn’t feel good about Nigeria’s failure to qualify for the WorldCup, which spurred me to begin to ponder on what could have gone wrong.

A lot of things could have possibly gone wrong, ranging from the NFF, Coach, players, etc, but I finally concluded that the root cause of all these mediocrities in Nigerian football was the poor development of grassroots football. There is indeed an urgent need to develop grassroots football in the country. Currently, grassroots football in Nigeria is nothing to write about. The Nigerian league has the highest number of clubs in Africa, but unfortunately, the players are underdeveloped due to poor infrastructure, and the low tactical and technical knowledge of most grassroots coaches.

The league is poorly funded and has also been ravaged with corruption and nepotism. According to reliable sources, it was disclosed that most local-based players bribe their way into the team, as failure to do so will not see them stand a chance in playing for the team. Players are now recruited based on how much they pay for bribes rather than based on talent.

Many young talented men and women’s hopes have been dashed away as they get shut out by unscrupulous coaches and agents denying them the opportunity to showcase their talent because they had no money to bribe their way through. Imagine how many talents this country would have witnessed if the grassroots system was void of corruption.

The NFF should look into this issue and speak to authorities in charge of recruiting talents, to desist from corruption and rather choose players only on merit. To build a formidable national team, Nigeria needs to embrace grassroots development starting from remote parts of the country, if it wants to develop its football potential.

Ever wondered why Brazil have had so much success in their football over the years?, that you begin to wonder if God specially created them alone with football talent. Brazil’s football body is intentional about developing grassroots football. Scouts from different regions search the nook and cranny of the country to ensure they get the best talent. According to football officials in Brazil, they disclosed that familiarity with soccer begins early, which produces a pool of talents, which is why they groom this talent from a very young age.

Their success in football has made Brazilian players increasingly in demand for teams all over the world. You can’t mention great football players without Brazilian players dominating the list. The likes of Ronaldinho, Rivaldo, Roberto Carlos, Delima Ronaldo, Robinho, etc. There is no rocket science to producing great soccer stars, other than the development of grassroots football.

Today in Nigeria, what we see everywhere is all about promoting elite football. Almost everyone is looking for a quick return and to create a pathway, which is why the team keeps struggling at the National level. I often watch the super eagles play, and I am always tempted to ask if this is the best of players the country can produce. Their world cup outings have never been impressive over the years, with their recent absence from the world cup which makes it even worse.

Nigeria football officials must note that familiarity with soccer begins at an early age. There is a need to go to primary and secondary schools where they get to organize football competitions to get talents and nurture them properly to become superstars. There is abundant talent in the country that has not been harnessed, a proper development of grassroots football will see the national team succeed very well and even possibly win the world cup.

As A Member of Federal Cabinet, Nigeria Will Have A Working Student Loan Industry

0

Under the  “3T2030 Plan for Greater Nigeria”, a plan to turn Nigeria’s sub-$500b GDP into $3 trillion by 2030, we will institutionalize excellence, uniting all citizens to a shared vision that is open, dynamic, prosperous and hopeful. From the lagoons of Lagos to the mangrove of Calabar, from the savanna of Yola through the plateau of Jos, to the beautiful forests of Owerri, men, women, boys and girls, will experience an unbounded optimistic future because we will serve.

We will usher in a new dawn of nationalism to enable us to achieve great success through societal energy. It will be based on substance, and fueled by visible economic roadmaps for all. Nationalism will bring our diasporas to return with money, investment ideas, global standards, networks and passion to build our nation.

At primary and secondary, education has to be FREE. But at the university level, we will provide ways to help citizens who cannot afford it. But it cannot be a “pure loan”. If you borrowed N1,000 in 1995 to attend UNN and you have to pay for it now, I am not sure you are fair to the lender. The N1,000 of 2022 is not the same as N1,000 of 1995. 

Education lending will be reformed, to track inflation plus prime set by the Central Bank of Nigeria, at least from the 4th year of the loan. Diamond Bank paid for my doctoral degree in banking & finance, and my specialty was currency. We will bring that experience into play here.

By the time we reform the student loan industry, lenders will see opportunities. Today, lending N50,000 to be paid over years makes no business sense due to inflation and currency deterioration.

Good People, you will see actionable leadership from those who understand markets. And the National Assembly will bless the plans through legislation where necessary. #believe

Comment on LinkedIn Feed

Comment 1: Excellent strategy – primary and secondary school should be free of charge to attend. Post secondary should be subsidized by the state so fees for students will be lower and more manageable. Loans should be at prime (plus maybe 0.5%) with no interest accrual or repayments required while still being a student. Additionally, interest should only commence immediately upon graduation or withdrawal from school and repayments should only be required to commence after 12 months post graduation or withdrawal from school. The entire loan should be amortized over 10 years to allow for low monthly repayments but with no maximum repayment amount so the loan could be repaid as quickly as the borrower wishes…..this is the Canadian way.

My Response: I will not necessarily posit for the Canadian plan since I have to consider the cost of capital. In my plan, I assume that the bulk of the funding will not come from the federal (Nigeria does not have the funds unlike Canada). So, looking at the base cost of capital, we will create a new model.

A key component of my plan is that profits from education lending including dividends will be taxed at 25% of base. That means, government absorbs 75% tax hit to give incentives for private companies to inject funds into. There are many operational things there to make it appealing for lenders even as we ensure borrowers are protected but it has to be unique from what most countries do because Nigeria is unique.

Comment: This is interesting! However, repayment of the loans will be contingent on securing a part-time job while studying to service interest payments, and a job after graduation to repay both outstanding principal and interest. How will this repayment risk be mitigated?

Lenders may be willing to consider this risk if the current unemployment rate is first reduced to acceptable level through quantum job creation otherwise they will be creating potential toxic assets.

My Response: In America today, the biggest problem is that most companies cannot find people to hire. Nigeria produces about 600k graduates (universities, colleges of education and polytechnics) yearly, US turns out more than 4 million. If we get the Nigerian economy going, we may not even have enough graduates to hire. If you see my model, we need at least 2 million graduates in my New Rural Economy Plan within 2 years.

As Your Federal Minister, I Will Fix Nigeria’s Educational System