The Central Bank of Nigeria (CBN) has assured that the country’s Deposit Money Banks (DMBs) remain resilient amid ongoing internal and external economic challenges.
CBN Governor Yemi Cardoso made this known on Tuesday in Abuja while presenting the communiqué from the 298th meeting of the Monetary Policy Committee (MPC).
Cardoso stated that the MPC commended the sustained stability of the banking system despite various economic headwinds.
“Key financial soundness indicators, such as the Capital Adequacy Ratio (CAR), Non-Performing Loan ratio (NPL), and Liquidity Ratio (LR), continue to reflect the strength of the sector,” he said, adding that the CBN will maintain close monitoring to ensure banks adhere to regulatory thresholds and remain healthy.
The MPC also highlighted the CBN’s ongoing efforts to deepen financial inclusion, aiming to enhance the effectiveness of monetary policy transmission.
Addressing inflation, Cardoso noted that data from the National Bureau of Statistics (NBS) revealed a rise in headline inflation to 33.88% in October, up from 32.70% in September.
On a month-on-month basis, inflation increased to 2.64% in October from 2.52% in the previous month.
Food inflation climbed to 39.16% in October from 37.77% in September, while core inflation rose to 28.37%, compared to 27.43% in the preceding month.
Despite the inflationary trend, the MPC observed a slight moderation in the prices of farm produce and commended the Federal Government’s efforts to boost productivity in the agricultural sector.
On economic growth, Cardoso disclosed that Nigeria’s Gross Domestic Product (GDP) grew by 3.46% year-on-year in the third quarter of 2024, driven by both the oil and non-oil sectors.
The non-oil sector expanded by 3.37%, while the oil sector recorded a 5.17% growth.
Additionally, Nigeria’s external reserves increased to $40.88 billion as of November 21, up from $40.06 billion at the end of October, providing enough to finance 17 months of imports.
Your Excellency, sir, I want to use this opportunity to draw your attention to the trend followed by your predecessors: forming a composition of the state executive council that is not all-inclusive and fails to address the need for every local government to be well-represented in accordance with the principle of federal character establishment.
The negligence or oversight of this administrative arrangement has become a typical setback, leading to the marginalisation of Warawa L.G.A. since its establishment by law in 1991. This undermining of not only its human capacity development but also the general welfare of its indigenes is evident in the few developmental projects the state has executed so far.
Sir, none of your predecessors on record has ever given us fair representation or equal opportunity through appointment to serve as a state executive council member, either as Commissioner or Special Adviser, since the establishment of Warawa Local Government. Your Excellency, your administration’s adoption of a similar trend is a significant setback to your performance indicators for good governance and fulfilling your campaign promises.
Among the twenty-four (24) Commissioners and about thirty-two (32) Special Advisers you appointed and cleared before the State Assembly, none is an indigene of Warawa L.G.A. Not only that, Your Excellency Sir, so far, all of your political appointments for the various positions of heads of respective Ministries Departments and Agencies (MDAs) ranging from about (7) Director General DGs, (44) Managing Directors MDs and Deputies, Executive Directors EDs, (5) Executive Secretary ES, and even Project Coordinators none is an indigene of Warawa L.G.A.
Your Excellency Sir, only if you imagine having a similar composition of Federal Executive Council members at the Federal level without Kano State having any ministerial position designated (not even minister of state).
At the same time, another state gets two or more. It appears disheartening that this recurring marginalisation is so severe that a ward from another L.G.A. will have two or more appointees and even an additional appointment as head of some MDAs. In contrast, Warawa ends up with none as a constitutionally recognised L.G.A.
Except for state constituency allocation and the ongoing 5 km entrance road projects, road developmental projects are not sponsored by the state as obtainable in other L.G.A that are well represented in the Council and beyond. Warawa L.G.A is autonomous like every other Local Government Area. The constitution and electoral act made it mandatory that no single election into the office of the executive governor of Kano state would be declared conclusive without the votes of this administratively neglected local government area.
For this reason and beyond, in the principle of justice, fairness, and equity, we call upon you to address the issue by giving us a fair and equal opportunity to develop this resourceful local government area. Our interest is to be part of this administration’s history written in gold, as we were part of the struggle that brought it on board.
Thank You.
Yours Sincerely,
Engr. Ismail Abdu Garba
Engr. Ismail is a lecturer, research scholar, and member of the Kwankwasiyya Scholars Assembly (KSA). He is also the Chairman of the Warawa Education Election Campaign Committee for 2019 and 2023. He can be contacted via madaarie@gmail.com.
Bulbula-Gayawa, a once-thriving community in Kano, has been ravaged by the devastating effects of gully erosion. The erosion has not only claimed lives but has inflicted untold hardships, from the tragic loss of farmlands to the dangers faced by children in the neighbourhood.
Gully erosion is a lingering problem caused by inadequate drainage systems, poorly managed waterways, and irresponsible sand excavation. As a result, people from the same area have been separated, creating a physical barrier within a single community.
Residents lament the erosion’s crippling impact on their lives, posing environmental challenges. The Daily Reality gathered that the erosion claimed the lives of nine young children in a single day a few years ago while coming back from school following heavy downpours.
Three local governments, including Ungoggo, Nassarawa, and some parts of Fagge, have been affected by the erosion.
Muaz Abubakar, a resident of the area, explains that “the erosion started a long time ago. We are doing our best to protect ourselves from this danger. Due to inappropriate waterways, rainfall washes away whatever we build to prevent direct access to the eroded site.
“Thousands of houses are at risk, and as a result, the site has been turned into a refuse dumping site and an avenue for smoking and other criminal activities”.
The Daily Reality contacted Mr Abduljabbar Abdussalam, an advocate of climate change and natural resources management, about the challenges and causes of gully erosion. He responded, “It was due to inadequate waterways and enough trees that can contain and consume the amount of water passing through the eroded drainage.”
He explains that trees slow water flow and absorb large amounts of it, helping to prevent flooding. However, because of poor waterways, residents are directing water pipes to the eroded site, causing flooding. Additionally, they’ve made the area a dumping ground, redirecting heavy water and worsening the situation.
“People in this environment are in grave danger; there’s the need for a call to action. To prevent themselves and safeguard their younger ones, there’s the need for the government to come to their aid by constructing drainages that can contain vast amounts of water.
The Ministry of Environment has made clear that the Kano state government intends to tackle the serious challenges facing the eroded environment.
During a visit to the site, the Kano State governor revealed that the work to address the damage would be done through the Agro-climatic Resilience in Semi-Arid Landscape (ACReSAL), which the Kano State Ministry of Environment supervises. The ministry partners strategically with the World Bank and the Federal Government of Nigeria.
The Kano State Public Complaints and Anti-Corruption Commission has uncovered warehouses where federal government palliative rice, marked as “not for sale” and bearing the image of President Bola Tinubu, was being re-bagged for potential resale.
The operation, led by the commission’s chairman, Muhuyi Magaji Rimingado, revealed the illicit handling of approximately 28 trucks of 50kg rice, valued at over N1.4 billion, around the Kano Western Bypass.
“This is a serious case of mismanagement and diversion of public goods. These palliatives were meant for the poor and vulnerable, but some individuals are profiting from the people’s suffering,” Rimingado stated during the raid on Tuesday.
One suspect has been apprehended, and investigations are underway to identify others involved in the scheme.
The commission pledged to recover the diverted palliatives and ensure their proper distribution to intended beneficiaries.
Rimingado assured the public of the commission’s commitment to holding those responsible accountable, stating, “We will leave no stone unturned in bringing those behind this act to justice.”
The incident has sparked outrage among residents, with many condemning the misuse of resources meant for the less fortunate.
A community leader in Hotoro, Garba Isah, described the act as “shameful and heartless,” adding, “People are struggling, yet some individuals are stealing from the poor. We commend the anti-graft agency for their swift action.”
The commission has urged citizens to remain vigilant and report any suspicious activities involving government relief materials.
It reaffirmed its dedication to transparency and accountability in addressing corruption and ensuring public resources reach the vulnerable.
The former Governor of Kogi State, Yahaya Bello, has once again appeared before the Economic and Financial Crimes Commission (EFCC) in connection with allegations of fund misappropriation during his tenure.
The Daily Reality gathered that Bello arrived at the EFCC headquarters in Abuja on Tuesday morning, accompanied by his legal team.
His visit follows a recent Supreme Court ruling dismissing a suit filed by several state governments challenging the EFCC’s constitutional authority.
Driving himself in a black Hilux van, the former governor’s appearance aligns with ongoing legal proceedings.
At a previous hearing on November 14, the EFCC requested an adjournment until November 27, citing the 30-day window required for a summons issued earlier.
Governor Usman Ododo, Bello’s successor, was also present during his earlier visit to the EFCC.
The anti-graft agency is continuing its investigation into the financial allegations against the former governor.
In one month, our mentor, leader, teacher, and father, Professor Salisu Shehu, the Vice Chancellor of Al-Istiqamah University Sumaila, Kano, and Deputy Secretary-General of the Nigerian Supreme Council of Islamic Affairs, received two distinguished honorary awards in recognition of his years of exemplary leadership, meritorious services, and contributions to the development of Islamic education.
The National Association of Teachers of Arabic and Islamic Studies (NATAIS) conferred one of these awards on Professor Salisu Shehu in a grand ceremony on November 16, 2024, at the Federal College of Education, Yola. The event was part of the Association’s 41st Annual International Conference.
The note of the Association’s highest Merit Award, inscribed on the crest presented to our beloved mentor, reads, “For your Exemplary Leadership and Contributions Towards the Islamic Propagation and Development in Kano State and Nigeria at Large.”
Coincidentally, the Bauchi State Qur’anic Recitation Competition in Jama’are presented the second award to the professor on the same day. Like its peer, this award recognises and celebrates the role played by our mentor in the dissemination of Islamic knowledge, societal enlightenment, and mentoring of the upcoming generation.
Interestingly, however, this second award is both a reward of excellence and a turbaning ceremony of Professor Salisu Shehu as Khadimul Qur’an (Custodian of the Qur’an), the highest title that connotes the peak one attains in promoting the knowledge of Islamic Scripture. The note of the award reads, “Islamic Knowledge Award presented to Prof. Salisu Shehu, V.C, Al-Istiqamah University, Sumaila, Kano State, for his tireless efforts in spreading Islamic knowledge, guiding our community, and inspiring a new generation of Muslims to embrace their faith.Congratulations Khadimul Qur’an”.
For hundreds of mentees and millions of Muslim followers of Professor Salisu Shehu, these esteemed awards clearly testify to the commitment and devotion for which the Professor has been known over the decades. This reputation is justified by his successes in various positions, including his position and duties at Bayero University Kano, where he taught before becoming the founding Vice Chancellor of Al-Istiqamah University Sumaila.
Professor Salisu Shehu displayed an inimitable commitment to modifying the establishment of the Centre of Continuing Education establishment at Bayero University. The centre grew from strength to strength, eventually transforming into the Institute of Continuing Education (ICE) and finally to the School of Continuing Education (SCE).
Professor Salisu Shehu was appointed as the first head of this centre, which started from scratch. He led a tenacious staff team, some of whom were younger colleagues he mentored or guided, to develop and upgrade this academic centre into a formidable educational unit of Bayero University. The place has already transformed from a diploma-awarding body to a degree-awarding school within one of Nigeria’s leading and most prestigious learning institutions.
Professor Salisu Shehu is a man in whom one can have confidence and a guarantee of success in any project or mission he undertakes or participates in. His years as the National Coordinator of the International Institute of Islamic Thought (IIIT) can, without much ado, testify to and validate this claim. Space will not allow us to marshal the achievements this Institute recorded when Professor Salisu Shehu headed it.
The same can be said of various other capacities and ranks in which he served and holds, such as being the first North-west Coordinator of JAMB organised for the visually impaired as the chairman of the Bauchi State Qur’anic Recitation Competition Committee (2007-2011); his role as the Executive Secretary of the Islamic Forum of Nigeria; Deputy Secretary-General, Nigerian Supreme Council of Islamic Affairs (NSCIA) and a host of other duties including imamship and delivery of sermons and Islamic lessons.
Besides all these, our distinguished scholar is also an effective mediator; all Nigerians can proudly vouch for his accomplishments. Northern Nigerian Muslims still remember the Professor’s role in facilitating the remarkable debate between some scholars and Abduljabbar Kabara, who shook the religious polity in Kano with his utterances that were considered highly aberrational.
Nigerian citizens and their counterparts of the Niger Republic, as well as their posterities, will remain forever indebted to Professor Shehu and his colleagues among religious leaders who intervened and brought about an understanding that averted war between two neighbours.
As our mentor was conferred these honours by both NATAIS and the Bauchi State Qur’anic Recitation Competition Committee, we pray that he will continue to receive more recognition and blessings in his life. More importantly, however, we pray that these recognitions are precursors to Divine recognition and honour by Allah on the Day of Judgement in the Hereafter.
Isma’il writes from the Advancing Education and Research Centre (AERC) in Rabat and can be reached at ismailiiit18@gmail.com.
The Nigerian National Petroleum Company Limited (NNPCL) has announced that the Port Harcourt Refinery in Rivers State has finally commenced crude oil processing.
This development was disclosed by the Chief Corporate Communications Officer of the NNPCL, Femi Soneye, who described it as a significant achievement for the nation.
“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing.
This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye said on Tuesday.
He commended President Bola Ahmed Tinubu, the NNPCL Board, and Group Chief Executive Officer Mele Kyari for their dedication to the project.
Truck loading operations are set to begin today, with the NNPCL also working on restoring operations at the Warri Refinery, Soneye added.
However, this milestone comes after the refinery missed several deadlines for resuming operations, including those set in March, August, and September 2024.
The Port Harcourt Refinery’s return to production is expected to ease Nigeria’s reliance on imported petroleum products while boosting the local economy.
The Plateau State First Lady, Barr. Helen Caleb Mutfwang has stated that the Project 10 Million campaign is dedicated to screening and managing hypertension and diabetes mellitus in the state.
According to her, the project campaign represents a critical mission to improve the health and quality of life of the people of Plateau State. The state’s goal is to change lives, save lives, and work towards a healthier, stronger, and more vibrant Plateau.
Barr. Helen explained that the initiative is about screening and increasing public awareness, gathering essential data, and fostering collaboration among stakeholders to make health services more accessible across the states and federal capital territory.
The First Lady added that by working together, the state can implement effective communication and data management strategies to guide interventions and improve Nigeria’s health and well-being.
Barr. (Mrs.) Mutfwang, who commended the Nigeria Health Commissioners Forum (NHCF) for spearheading and domesticating the campaign, acknowledged its impact on the health and quality of life of the citizens, adding that it has the primary objective of screening over 200,000 Plateau residents for hypertension and diabetes and the secondary objective of collecting data on the prevalence of non-communicable diseases to better the state health policy and planning, among others.
Speaking earlier was the State Commissioner of Health, Dr Cletus Bako Shurkuk, who said the Project 10 Million is a national project with the theme: “KNOW YOUR NUMBER, CONTROL YOUR NUMBER”, saying it is aimed at screening 10 million Nigerians for hypertension and diabetes mellitus, which marks a significant step in the fight against non-communicable Diseases.
According to him, the project aims to provide immediate counselling and referral, link newly diagnosed patients to treatment facilities, increase public awareness about hypertension and diabetes, and improve data collection.
Shurkuk explained that selected primary and secondary healthcare facilities would screen 200,000 people across the seventeen local government areas.
He appreciated Barr. Helen Caleb Mutfwang for accepting to flag off the program and also serve as an ambassador. He called on people to take the screening exercises to learn about their blood pressure and sugar levels.
In a closing remark, the Permanent Secretary of the State Ministry of Health, Mr Gayi Timothy Gayi, appreciated Barr. Helen Caleb Mutfwang, the government, and development partners, among others, for gracing the occasion, urging the people to avail themselves to know their health status.
The high point of the event was the decoration of the First Lady as an ambassador of the project and her screening to determine her blood pressure level.
Dr. Victor Okhai, a seasoned filmmaker and critic in Nigeria, decried that cultural imperialism has made people forget about Indigenous films, which has caused a significant setback in the local film industries.
This was made known during the Kano Indigenous Languages of Africa Film Market and Festival (KILAF) conference, which was held on Monday at the Faculty of Communications, Bayero University, Kano.
He explains that ” one thing about indigenous film is that it contains a variety of activities. One can see how a particular culture operates, their way of life, and other things contained within that particular culture that people cannot know without being portrayed in a local movie.”
Dr Okhai further added that people mainly rely heavily on American movies. As such, they ignore their own heritage and embrace the Western way of life, which later cultivates them and makes them behave in a particular way the filmmakers want.
He also asserts that “through local films, individuals within a particular culture can be able to know their roots, what their forefathers have done which they might not necessarily know.”
“Indigenous film serves as an important medium of explaining cultural heritage, an avenue for generating revenue and an important tool for entertainment,” Okhai stated.
Dr. Dikko Umaru Radda won the 2023 Katsina State gubernatorial elections and has since taken office. However, he seems to struggle with the transition from CEO of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to his new role. He keeps lecturing the youths on entrepreneurship, telling them that there are no jobs. He would always tell them why being a worker is a misfortune in today’s world. Surprisingly, he is never caught on tape talking about the key role of the government in entrepreneurship.
This society has normalized throwing jibes at salaried workers. People who despise salaried employees behave as if they are the next smartest people on earth since Albert Einstein while in reality, there is nothing spectacular in this. It is a tepid argument, and when Nigerian leaders do it, it reflects their reluctance to take responsibility for the economic challenges we face.
One significant reason for the current suffering of Nigerians is the systemic push of workers into poverty. Despite advancements in technology, automation, and artificial intelligence, no national economy thrives without the contributions of workers. Even if entrepreneurs automate production and supply chains, consumption remains a human necessity. Who will buy the products? Machines? No, it is people- primarily workers- who drive consumption. So, when anyone is throwing jibes at these employees, I usually imagine what planet they come from.
Let us return to Dr Radda and other Arewa leaders who always want to deliver free lectures on entrepreneurship. It is crucial to note that no business thrives in a commercially toxic environment. How have these Arewa leaders been able to create a conducive environment for business? They have always been in the business of blame games and never taking leadership responsibility seriously. This is exactly why it is easy today for President Tinubu and his Tax Boys to tell them they are rejecting his proposed VAT sharing formula because they have lazied around for too long, earning more Federal Account Allocation Committee (FAAC) than they actually deserve.
We have vast fields of arable land, yet companies like Nestle who need maize and soya beans prefer to set up their factories in Lagos. We have cattle that FrieslandCampina and Promasidor would ordinarily obtain fresh milk from through modern animal farming processes. However, these companies are based in Lagos because the north is either faced with farmers-herders clash on Monday, or fighting bandits on Tuesday, or discovering Lakurawa by Wednesday. Which multinational company will waste its time, energy and resources building a business in such an environment? This is why they prefer to be based in South-West, then buy these raw materials from up north and transport them for processing and ship some of it back to the north for consumption.
I will not discuss why 19 northern states believe they are okay with this type of poor electricity supply over the years. Your Kano and Kaduna textiles are dead; reptiles now live where we had textile machines and very many workers running shifts. Even on the planet Saturn, they are aware that no development happens without electricity in this modern age. But since Arewa leaders know an alternative way to do this, let us keep waiting for the miracle. I am sure it is very close to happening. Sokoto is just an inch away from advancing like South Korea, since Kaduna is already competing with Silicone Valley!
The other day, Dr Radda’s tape was virally circulated. He was still talking about workers, and how an Indomie Joint vendor earns better monthly income than them. The irony is that on 23 November, 2024, Daily Trust wrote a report that this type of business is crumbling. They cited that the astronomical rise in the prices of egg, milk, noodles and bread is telling on the business. Nigerians can no longer afford this. These food items have become a luxury to the who used to consume them. It is a pointer to the fact that people are getting poorer.
This was not always the case in Nigeria. Workers began suffering after Buhari did his trial and error economics for eight solid years, and now Tinubu is here to shut down the economy finally so that everyone can go and rest in their graves. Otherwise, ten years ago (2014 to be specific), a salaried worker on a minimum age of N18,900 could afford to buy a 50kg bag of foreign rice at N7,500 which he could feed his family for at least three months. He would still have the remainder of this salary which will at least cover his transportation to work. The political class destroyed this. The same political class which Katsina state governor belongs to.
In my opinion, the governor should realize that it is no longer the SMEDAN days. All Nigerians cannot be entrepreneurs. In every real national economy, the workers are always far more than the entrepreneurs. The earlier he and members of his social class come together to chart a sustainable economic plan for the north, the better for all of us. The South-West governors who have created economically viable environment are not begging their citizens to go into entrepreneurship. The citizens are identifying the opportunities already. When you put your house in order, you don’t need to tell anyone to start a business. People will naturally see the opportunities. This is why the South-West is ahead. It is not magic. They are deliberate about developing their environment, and this is a good one. Had other leaders developed their regions in a similar manner, we would not be fighting over the VAT sharing formula.
Arewa’s economic recovery starts from reviving the New Nigeria Development Company (NNDC) Limited to be what the Sardauna of Sokoto, Sir Ahmadu Bello meant it to be. Arewa governors should give politics a break and focus on governance by revitalizing the NNDC and truly investing in that company. NNDC was a big dream to save this region from the economic mess it has found itself today.
Sardauna was visionary and NNDC actually delivered on its objectives for decades before the Arewa governors class of 1999 to date decided to watch it die a slow and painful death, folding their arms and waiting for oil royalties from the newly found Kolmani oil in Gombe or Bauchi State. Arewa leaders should wake up and save this region. It is their responsibility. It is not the responsibility of Tinubu or FG or anyone. But your Excellency, please, allow workers to face their predicament. They were never in this situation until your political class decided to make them poor through extreme taxation and careless policies that spiked inflation to all record high. Therefore, if you cannot help them, you do not need to add insult to their injury.
