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COVID-19: SANWO-OLU, FIRST BANK LAUNCH N5 BILLION SUPPORT CAPITAL FOR LOW-COST SCHOOLS

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•Gov: ‘Intervention To Help Mitigate Effect Of Lockdown’

•LSETF, First Bank Float Education Loan Programme

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Lagos State Government in partnership with First Bank of Nigeria Ltd has launched N5 billion Post-Coronavirus (COVID-19) Recovery Support capital for education sector to support low-cost private schools across the State in mitigating the negative impact of the pandemic.

The intervention fund, which targets over 2,000 private schools, was formally launched by Governor Babajide Sanwo-Olu on Friday at a ceremony held at the Banquet Hall in the State House, Alausa.

Lagos State Employment Trust Fund (LSETF) collaborated with First Bank of Nigeria Limited to facilitate the matching fund, which will be given as loan to schools and vocational education centres across the State.

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Sanwo-Olu said the intervention was part of the State Government’s sustainable solutions to limit the socio-economic impact of the COVID-19 pandemic on both residents and businesses.

As the State gradually unlocks socio-economic activities, following the impact of the pandemic, the Governor said the loan programme would help the targeted beneficiaries accelerate recovery and give them opportunity of painless return to regular life.

He said: “It is no longer debatable that the education is one of the sectors that are severely impacted by the COVID-19 pandemic, with schools and vocational learning-centres shut since March when we took the tough decisions meant to disrupt the spread of the virus. Given the incidence of the closure of schools in response to the pandemic, it would not be out of context to note that the challenges presently faced by these schools would increase significantly.

“With access to low-cost funding for privately owned schools and vocational training centres in the state, we are confident that this programme will help accelerate sustainable and painless return to world-class learning and skills acquisition of our young population. As a responsible Government, we are obligated to provide intervention that would enable learners in these schools’ study in line with the new normal.”

Sanwo-Olu said the N5 billion Education Loan Programme was a precursor to many more human development sector-specific support programmes that would be unveiled by the LSETF on behalf of the State Government next month. 

The Governor explained that the intervention was necessary, given the importance of education to building human capital. He said his administration took education as critical building 21st century economy and realising objectives set out in the T.H.E.M.E.S. agenda.

The beneficiaries, Sanwo-Olu said, will have access to single-digit loan facilities to fund the provision of the amenities and services needed to aid learning.

He said: “It is thus heart-warming to have First Bank of Nigeria electing to be our exemplary partner for this intervention. With their support, players in the education sector would be getting the financial support they need to boost learning at a single-digit interest rate.

“I also commend the Board of LSETF and the management for this significant accomplishment. They have helped the Lagos State Government build an institution that has engendered public trust and elevated the hope of small businesses and young people, irrespective of challenges faced.”

Chairperson, LSETF Board of Trustees, Mrs Bola Adesola, represented by Mrs. Tatiana Mousali-Nouri, said schools that have a minimum of 100 students and have been in operation for, at least, a year are the ones qualified for the loan facility.

She said: “We are confident that this intervention fund, which is complemented by our free professional and institutional support structures, will ensure that education ecosystem in Lagos witness an improvement in the overall learning outcomes for the children, while positively impacting on the local economy through wealth and job creation.”

First Bank’s Chief Executive Officer, Dr Adesola Adeduntan, said the Bank went into the partnership, having recognised the role played by education towards the growth of the economy.

He praised the State Government’s efforts towards suppressing the burden caused by the COVID-19 pandemic on the education, saying Lagos Government had scored another first.

Adeduntan said: “With the single-digit funding targeted at about 2,000 low-cost private schools in Lagos, we are delighted to demonstrate our commitment to the development of education in the State, thereby contributing our quota to realise the mandate of the State Government and LSETF on economic growth, opportunities for employment and bridging societal gaps in education.”

The loan scheme will be provided to two categories of applicants, which are Micro-Enterprise (ME) and Small and Medium Enterprise (SME). Those in ME category will receive a sum of not more than N500,000, while those in SME will get N5,000,000.

To apply for the loan facility, applicants are expected to submit their applications via the LSETF portal for screening. Details of the successful applicants will be passed on to First Bank for appraisal and disbursement.

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Nigeria: The Changing Governance Story

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Nigeria: The Changing Governance Story

Today, however, Nigeria is home to the largest single-train refinery in the world, with the capacity to process 650,000 barrels of crude per day

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Nigeria: The Changing Governance Story

 

 

 

 

 

 

 

By Temitope Ajayi

 

 

 

 

 

 

 

Sahara Weekly Reports That Tracking many stories of remarkable progress currently taking place in Nigeria can be a challenging task. This is so because these important stories are lost to some who daily indulge in the cacophony of adverse reports. These negative news often dominates the headlines.

 

 

 

 

Nigeria: The Changing Governance Story

 

 

 

 

 

With a 24-hour news cycle that tends to focus mainly on distasteful narratives, several Nigerians have been made to accept the view that nothing good is happening in their country.

Those who rely on the mainstream media and social media as the only sources of news and information they consume are the worst hit by the cycle of misinformation that portrays our country as descending rapidly to the edge of the precipice. However, the reality is different: the country is making progress in leaps and bounds.

 

 

 

 

 

 

Late Swedish physician and Professor of International Health at Karolinska Institute, Hans Rosling, his son, Ola Rosling, and daughter-in-law, Anna Rosling, extensively dwell on this subject in “Factfulness: Ten Reasons We’re Wrong About the World – and Why Things Are Better Than You Think,” a book published in 2018. In the book, the authors demonstrate that most people are made to hold the wrong notion about the state of the world because the media project data, analyse trends and select stories to make people assume that things are getting worse around them. The authors assert that a majority of people view the world as poorer, less healthy, and a more dangerous place to live in than it actually is. In other words, many people believe they are living in a worse period in the history of mankind because of misinformation.

 

The same situation the Roslings describe in their book is at play in Nigeria, where individuals, interest groups, activists, analysts, self-serving politicians, and opposition elements constantly project and amplify negative stories.

It is as if we are in a race with those who can say the most horrible things about our country. Yet, we have an abundance of good stories to tell the world. We seem so numb to the good news that we are dismissive of breakthroughs and innovative trends. For instance, we downplay the significance of Dangote Petroleum Refinery and its possibilities to reflate the economy.

 

Many people forgot so soon that we had been importing petroleum products for over three decades because the state-owned refineries are moribund. Our national economy bled, and the country was in a fiscal cul-de-sac for those years as a result of subsidy payments on petroleum products.

 

Today, however, Nigeria is home to the largest single-train refinery in the world, with the capacity to process 650,000 barrels of crude per day. Cynics do not see this as a breakthrough.

 

Nigerians who are 60 years old and below started seeing modern rail infrastructure in 2016 when the All Progressives Congress-led administration of former President Muhammadu Buhari commissioned the standard gauge rail system, beginning with the Abuja-Kaduna route, later Lagos-Ibadan and then the Warri-Itakpe.

 

The national rail modernisation project is progressing with Kano-Katsina-Maradi and Kano-Kaduna standard gauge rail projects at different stages of completion. The contractor working on the rehabilitation of the Port Harcourt-Maiduguri narrow gauge recently announced the completion of the Port Harcourt-Aba section. While the Federal Government is rallying stakeholders to promote economic integration across the country, the Lagos State Government recently launched two metro rail lines -Blue and Red Rail lines – as part of the state’s elaborate master plan to build a modern and efficient megacity. Like Lagos State, there are visible signs of remarkable, quantifiable progress in several other states, including Kaduna, Kano, Akwa-Ibom, Rivers, Kebbi, Borno, Gombe, Oyo, Ekiti and Ogun, among others.

 

A few weeks ago, the President Bola Tinubu-led administration embarked on the construction of the 700 kilometres Lagos-Calabar Coastal Highway that will connect nine coastal states in another bold move to bolster economic growth further and open up the country to productive economic activities.

 

While it may be very easy for critics and other armchair analysts to ignore these developments and their significance to remaking Nigeria, there is no gainsaying that these projects and many more that are ongoing or about to be instituted across critical sectors are the core of President Tinubu’s Renewed Hope Agenda. Indeed, it is hard to process why the so-called critics and cynics can not see the Lagos-Calabar Highway project as a clear demonstration of the President’s commitment to harnessing the potential of our renascent Blue Economy.

 

Despite what is bandied by the most vociferous critics

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Wike’s Loyalist Nwanosike Leads Thugs To Disrupt PDP NEC Meeting

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Wike’s Loyalist Nwanosike Leads Thugs To Disrupt PDP NEC Meeting

 

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Samuel Nwanosike, the chairperson of Ikwerre Local Government Area of Rivers State, Thursday, reportedly led thugs to disrupt the National Executive Committee (NEC) meeting of the Peoples Democratic Party (PDP) in Abuja.

Nwanosike, who is the chairman of Ikwerre Local Government Area of Rivers State, is a loyalist of Nyesom Wike, the Minister of the Federal Capital Territory.

Among many other things, a potential sanction for Wike was expected to take the front burner at the party’s NEC meeting over allegations of anti-party activities.

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However, Nwanosike reportedly tried to force his way into the venue and came along with hoodlums. His intent, it was gathered, was to create chaos and halt resolutions by the NEC.

 

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APC Vanguard condemns purported sacking of Ganduje as attempted civilian coup …recommends full investigation

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APC Vanguard condemns purported sacking of Ganduje as attempted civilian coup ...recommends full investigation

APC Vanguard condemns purported sacking of Ganduje as attempted civilian coup
…recommends full investigation

 

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A political interest group in the All Progressives Congress (APC) has condemned the purported sacking of the National Chairman of the party, Alhaji Umar Ganduje.

The group under the umbrella of APC National Vanguard described the sacking as a political coup orchestrated by desperate individuals outside the party who are envious, and felt threatened by Ganduje’s rising profile.

It said that the attempt to sack Ganduje as the National Chairman of the APC is a direct assault on the democratic principles and what the party stands for.

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The group said: “We understand that such calls and attempt to illegally sack the chairman can only be contemplated by anti-democratic forces and those who seek the fall of the APC party.

“It is most unfortunate that they are hiding behind the façade of being democrats when in reality they abhor the very tenets of democracy, which is why they are keen on using crude tactics to cause disarray, and unsettlement within our prestigious party.

“We warn those outside the APC party who desperately want to rejoin the party to do so in the most honorable and civilized manner. Resorting to devilish, demonic, and dubious means to achieve their goals is not only unacceptable but also undermines the principles of democracy and fair play.

“It Is a clear violation of our party’s constitution and an affront to the democratic principles upon which our great nation is built. We stand firmly behind Alhaji Ganduje and affirm our unwavering support for his leadership.

“His dedication, integrity, and commitment to the ideals of the APC have been instrumental in our party’s success and growth. His Excellency, Alhaji Umar Ganduje, has been an exemplary leader within the All Progressives Congress.

“Under his leadership, the party has made significant strides in advancing its agenda, promoting good governance, and delivering on its promises to the Nigerian people. His rising profile is a testament to his dedication, hard work, and commitment to the party’s ideals.”

The group called on Governor Abba Kabir Yusuf of Kano State to call his dogs to order. It said: For those that have hired themselves out as mercenaries to threaten Nigeria’s democracy and causing strife within our noble party, you should be ready to face the sword of justice soonest.

“The governor needs to understand that oppression of the weak is the bane of Justice and Democracy in any country. We implore him to step down if he has nothing in his head other than witch-hunting, and playing divisive politics in Kano State.

“He should hand over government to a competent hands if he’s not ready to embrace following due process of justice, other than using rascality, impersonation, and manipulative tactics to fight opposition.

“We call on all members of the APC, at all levels, to rally together in support of Alhaji Umar Ganduje and to condemn this act of political sabotage.

“Our unity and solidarity are paramount in these challenging times. It is only by standing together, hand in hand, that we can overcome any attempts to divide and weaken us.

“In conclusion, we reiterate our condemnation of the purported sack of His Excellency, Alhaji Umar Ganduje, as the National Chairman of the APC. We expose the legal loophole in the alleged suspension, highlighting the fact that those who addressed the press conference are not card-carrying members of our party.

“Which in regards of this revelation makes the purported suspension null and void, and would have no any effect on the National Chairman.

“We further express our happiness at the good news that, the Ward and Local Government Executives having identified the persons involved in this unfortunate situation, have already prepared to charge them to court for impersonation and calculated attempt to embarrass and dent the image of the Party and that of the National Chairman.

“We also issue a stern warning to those outside the APC who seek to rejoin the party, urging them to do so in a manner that upholds honor, civility, and the democratic values we hold dear.”

 

APC Vanguard condemns purported sacking of Ganduje as attempted civilian coup
...recommends full investigation

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