Connect with us

Headlines

IMF commends Nigeria Government’s management of COVID-19 pandemic

Published

on

IMF commends Nigeria Government’s management of COVID-19 pandemic

By Matthew Eloyi

The International Monetary Fund (IMF) has commended the Federal Government of Nigeria for its proactive management of the COVID-19 pandemic and its economic impacts.

The commendation is contained in the organisation’s Executive Board’s conclusion of the 2021 Article IV Consultation with Nigeria, obtained from its website on Tuesday.

Despite the pandemic’s management, the outlook, according to the board, is vulnerable to substantial risks, including the pandemic’s trajectory, oil price volatility, and security challenges.

It acknowledged that the Nigerian economy was recovering from a historic downturn, aided by government policies, rising oil prices, and international financial aid.

“After registering a historic deficit in 2020, the current account improved in 2021 and gross foreign exchange reserves have improved, supported by the IMF’s Special Drawing Rights (SDR) allocation and Eurobond placements in September 2021.

“Notwithstanding the authorities’ proactive approach to contain COVID-19 infection rates and fatalities and the recent growth improvement, socio-economic conditions remain a challenge.

“Levels of food insecurity have risen and the poverty rate is estimated to have risen during the pandemic,” it said.

According to the IMF, the prognosis is balanced, with low vaccination rates exposing Nigeria to future pandemic waves and new variations on the one hand, and increasing debt service to government revenues posing fiscal sustainability issues on the other.

It went on to say that escalating violence and insecurity could further sabotage the recovery.

“On the upside, the non-oil sector could be stronger, benefitting from its recent growth momentum, supportive credit policies, and higher production from the new Dangote refinery.

“Nigeria’s ratification of the African Continental Free Trade Agreement (AfCFTA) could also yield a positive boost to the non-oil sector while oil production could rebound, supported by the more generous terms of the Petroleum Industry Act,” it said.

IMF, however, emphasised the need for major reforms in the fiscal, exchange rate, trade and governance areas to lift long-term, inclusive growth.

On exchange rate, the directors welcomed the removal of the official exchange rate and recommended further measures towards a unified and market-clearing exchange rate.

This, they said, was to help strengthen Nigeria’s external position, taking advantage of the current favorable conditions.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

NAPTIP to establish command in FCT to tackle violence, SGBV cases

Published

on

NAPTIP urges stiffer penalties for rape

The National Agency for the Prohibition of Trafficking Persons (NAPTIP) says it is proposing the establishment of a command in the Federal Capital Territory (FCT) to tackle cases of Violence against Persons (VAP).

The Director-General of the agency, Mrs Binta-Adamu Bello, disclosed this on Monday in Abuja during the 2024 stakeholder’s coordination meeting on implementation of the Violence Against Persons Prohibition (VAPP) Act 2015 and corresponding state laws.

The News Agency of Nigeria (NAN) reports that the meeting was supported by Ford Foundation to commemorate the first day of the 2024 Global 16 Days of Activism, an annual campaign to challenge violence against women and girls.

The NAPTIP boss said that the establishment of the FCT command would further solidify the agency’s commitment toward eradicating social menace, especially with the issue of Sexual and Gender-Based Violence (SGBV) in the nation’s capital.

According to the NAPTIP boss, it is expected that the command will enhance quicker response to SGBV cases, improve coordination among stakeholders, provide specialised support services for survivors and strengthen investigation and prosecution.

She said that the command would serve as a model for other states and strengthen stakeholders’ collective efforts to eradicate SGBV within the FCT, while inviting the stakeholders’ input and expertise in facilitating the move.

She said “I have strong conviction that we will leave here with renewed vision toward eradicating the ills associated with violence against persons and in turn, make the country safer and more habitable.

“It is gratifying to note that this meeting is holding on the first day of the Global 16 Days of Activism, which is an annual campaign to challenge violence against women and girls.

“The theme for this year is “Towards Beijing +30: Unite to End Violence against Women and Girls”, which resonates with the 30th anniversary review of the implementation of the Beijing Declaration and platform for action.

“At this point, I must commend the efforts of Ford Foundation for graciously supporting this meeting under the project “Strengthening Government Approach in Preventing and Responding SGBV.”

She reiterated NAPTIP’s commitment to work with states, the mandate Secretary of the Women Affairs Secretariat of the FCT and Civil Society Organisations to implement laws that abhor

Violence against women and girls.

Mrs Tolulola Odugbesan, the acting Director, VAP Department, NAPTIP, said that the coordination meeting was an opportunity for stakeholders to connect, proffer guidance, reflect on concerns, review successes and identify gaps.

She added that the meeting was also to discuss challenges, assess the level and effectiveness of intervention efforts and proffer recommendations and far-reaching strategies associated with the implementation of the VAPP Act 2015.



 

Continue Reading

Headlines

Plateau to organise free medical care for 200,000 residents

Published

on

Appeal Court sacks Mutfwang as Plateau governor

The Plateau Government says it has concluded arrangements to organise free medical care for 200,000 residents.

The Commissioner for Health, Dr Cletus Shukuk, made the disclosure on Monday in Jos at the official launch of “Project 10 Million; Know Your Number, Control Your Number.”

Shukuk explained that the free medical care was basically screening for hypertension and diabetes, which were non-communicable diseases.

The commissioner stated that the programme was a comprehensive intervention strategically in line with the national campaign of the Nigeria Health Commissioners Forum to combat the rising prevalence of non-communicable diseases.

According to him, the project would provide immediate counselling and referral and would also link newly diagnosed patients to treatment facilities.


Shurkuk further said that the increased public awareness would be carried out on hypertension and diabetes.

“The project would support the creation of a hypertension and diabetes register and, in turn, improve data collection, which would enhance health care policies and planning.

“The screening will be conducted in the 17 local government areas and will be done in selected primary and secondary health care facilities.

“I wish to call on the people of the state to avail themselves for the screening exercise to enable them to know their blood pressure and blood sugar level status,” he advised.

The News Agency of Nigeria (NAN) reports that Mrs Helen Mutfwang, the wife of the governor of Plateau, was made the ambassador of the “project 10 million.”



 

Continue Reading

Headlines

Minimum wage: LG boss lauds Oyebanji for approving N70,000 for workers

Published

on

Minimum wage: LG boss lauds Oyebanji for approving N70,000 for workers

Mrs Clara Bamisile, the Chairperson, Oye Local Government Area in Ekiti State has commended Gov. Biodun Oyebanji for approving the N70,000 minimum wage for workers.

Bamisile gave the commendation in an interview with the News Agency of Nigeria (NAN) in Oye-Ekiti on Monday.

She described the governor’s decision as the right step in the right direction towards reducing financial burden for civil servants and making cost of living affordable for them.

According to her, Oyebanji has proved to all Ekiti indigenes that he is a good and compassionate leader, who cares for the wellbeing of his people.

“I want to commend our amiable governor, Mr Biodun Oyebanji, for approving the N70, 000 minimum wage for civil servants in Ekiti.

“He has proved to all Ekiti indigenes that he is worthy, passionate, caring and a good leader, who is ready to make his people happy as we approach yuletide.

“It is a testimony that our governor is ready to make cost of living affordable for our people, and he will not relent to do more if given a chance.”

She urged both Ekiti indigenes and residents to consider Oyebanji for a second term in office to continue his good works.

Bamisile enjoined the civil servants to be diligent in their various departments to justify the salary increment

Continue Reading

You May Like

Copyright © 2024 Acces News Magazine All Right Reserved.

Verified by MonsterInsights