Connect with us

Headlines

Expectations high as Truss takes over, vows to ride out economic storm

Published

on

Liz Truss to succeeds as UK Prime Minister

Liz Truss took over as Britain’s Prime Minister on Tuesday, vowing immediate action to tackle one of the most daunting set of challenges for an incoming leader in post-War history led by soaring energy bills, looming recession and industrial strife.

Truss, the fourth Conservative prime minister in six years and successor to Boris Johnson who was forced out over multiple scandals, acknowledged the severe global headwinds from Russia’s invasion of Ukraine and the COVID-19 pandemic.
“I am confident that together we can ride out the storm. We can rebuild our economy, and we can become the modern brilliant Britain that I know we can be,” Reuters quoted the 47-year-old former foreign secretary to have said outside her new Downing Street home and office.

Truss appointed close allies to top jobs such as Kwasi Kwarteng as finance minister, Therese Coffey as deputy prime minister and health minister, and James Cleverly as foreign minister.

Advertisement

It was the first time a white man would not hold one of Britain’s four most important ministerial positions.

The new cabinet would be charged with delivering on Truss’ three stated priorities: tax cuts to boost the economy, help over rising energy costs, and sorting out the state-run National Health Service.

She inherits an economy in crisis, with inflation at double digits and the Bank of England warning of a lengthy recession by the end of this year.

Advertisement

Already, workers across the economy have gone on strike.

Truss has promised to scrap plans to increase corporation tax on big firms, and to reverse an increase in a payroll tax on workers and employers, designed to raise additional funding for health and social care, with the extra spending coming from general taxation instead.

Her plan to revive growth through tax cuts, as well as potentially providing around 100 billion pounds ($116 billion) to help with energy bills, has rattled financial markets.

Advertisement

British 30-year government bonds suffered their sharpest one-day fall since March 2020 when the coronavirus pandemic caused turmoil in financial markets, as investors honed in on the extra borrowing Truss’s plans are likely to require, while 10-year borrowing costs rose to their highest since 2011. read more

“I know that we have what it takes to tackle those challenges. Of course, it won’t be easy, but we can do it,” Truss said, adding that Britain would also continue to stand up for freedom and democracy around the world.

One major global ally, United States President, Joe Biden, offered his congratulations.

Advertisement

“I look forward to deepening the special relationship between our countries and working in close cooperation on global challenges, including continued support for Ukraine as it defends itself against Russian aggression,” he said on Twitter.

Also, President Muhammadu Buhari congratulated the new Prime Minister of Britain.

In a statement yesterday, by his Media Adviser, Femi Adesina, the president on behalf of the citizens and Government of Nigeria, congratulated the Truss, on her assumption of this trusted position of leadership.

Advertisement

Buhari rejoiced with the former Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom, whose antecedents in government, politics and diplomacy will further shape and strengthen relations with Nigeria and other nations.

He affirmed that the shared ties between Nigeria and Britain remains strong, positive and mutually beneficial, while working with Prime Minister Truss to deepen that relationship in the interest of both countries.

Buhari appreciated the warmth and friendliness of the immediate past Prime Minister, Boris Johnson, wishing him the best in his future endeavours.

Advertisement

The new prime minister has a weaker political hand than many predecessors.

Having held a place in cabinet for eight years, she defeated former finance minister Rishi Sunak in a vote of Conservative Party members by a tighter margin than expected and despite more of the party’s lawmakers initially backing him.

Johnson, who tried to cling to power in July, despite ministers resigning en masse over scandals including parties during COVID lockdowns, appealed for unity. read more

Advertisement

“It’s time for politics to be over, folks,” he said in his farewell speech. “It’s time for us all to get behind Liz Truss.”

After speaking outside Downing Street’s famous black door, Johnson flew to Scotland to tender his resignation to 96-year-old Queen Elizabeth at one of her homes, before Truss followed him into Balmoral Castle to be appointed. read more

Johnson boasted of his successes, including an early COVID vaccine programme and his staunch support for Ukraine in its battle against Russia.

Advertisement

He also listed “delivering Brexit” as one of his main achievements, although polls now show that a majority of people think leaving the European Union was a mistake.

Britain, under Conservative rule since 2010, has stumbled from crisis to crisis in recent years and there is now the prospect of a long energy emergency that could drain the savings of households and threaten the futures of businesses still weighed down by COVID-era loans.

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

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

Headlines

Akwa Ibom APC Gears Up to Receive President Tinubu as Governor Umo Eno Joins Party

Published

on

The All Progressives Congress (APC) in Akwa Ibom State has announced its readiness to host President Bola Ahmed Tinubu and other top party leaders as it officially welcomes Governor Umo Eno into its ranks.

Speaking at a press briefing in Uyo on Friday, APC chieftain and former presidential aide, Senator Ita Enang, disclosed that the party was fully prepared to receive the president, Vice President Kashim Shettima, APC National Chairman, and governors elected on the party’s platform for the historic reception.

Governor Umo Eno had on June 6 formally defected from the Peoples Democratic Party (PDP) to the APC, in a move widely described as a political game-changer in Akwa Ibom.

Advertisement

Enang, a former Special Assistant to the President on National Assembly and Niger Delta Affairs, said the governor’s defection had effectively aligned the state with the central government.

He assured Governor Eno and his supporters that the APC would embrace them wholeheartedly and honour all agreements reached.

“As progressives, we shall work with the governor and his supporters to ensure that they fit into the party without hitches,” Enang stated. “We will also work with them to align programmes of the state government with the ideals and manifesto of the party.”

Advertisement

He further described the governor’s move as a “merger” that promises significant benefits for Akwa Ibom and its citizens.

The planned reception is expected to mark a major political event in the state, signaling a realignment of forces ahead of future elections.

Advertisement
Continue Reading

Headlines

Ekiti Launches Aggressive Anti-Flood Campaign, Dredges Ofigba River

Published

on

The Ekiti State Government has intensified efforts to prevent flooding across the state with the launch of a comprehensive dredging campaign, targeting critical waterways in both rural and urban areas.

Chairman of the Ekiti State Environmental Protection Agency (EKSEPA), Chief Bamitale Oguntoyinbo, disclosed this on Friday during an inspection visit to the ongoing dredging project at the Ofigba River in Ise-Ekiti.

Oguntoyinbo, who was accompanied by EKSEPA board members, said the visit was to assess the progress of work being carried out to mitigate flood risks in the community. He expressed satisfaction with the pace and quality of the dredging work.

Advertisement

“I and other board members of EKSEPA are delighted with the level of job done by the site engineer because he is actually working with the directives of three-kilometer dredging of waterways,” he said.

According to him, the dredging commenced on June 4, and so far, 1.8 kilometers of the river have been successfully cleared.

He applauded Governor Biodun Oyebanji for prioritizing the safety and welfare of residents by initiating the state-wide anti-flooding campaign.

Advertisement

“I want to commend our amiable governor, Mr. Biodun Oyebanji, for embarking on zero tolerance campaign against flooding in every community and town in Ekiti,” Oguntoyinbo stated.

He also praised the General Manager of EKSEPA, Mr. Olukayode Adunmo, for his commitment to the project’s supervision and success.

In his remarks, Adunmo emphasized the urgent need to clear waterways choked by refuse, which impede water flow and contribute to flooding during the rainy season.

Advertisement

“Dredging of Ofigba River in Ise-Ekiti in Ise/Orun Local Government Area is necessary because some of the waterways have been blocked by refuse,” he explained. “There is the need for us to remove every blockage to enhance free flow of water and avert flooding during heavy rainfall.”

Adunmo also commended Governor Oyebanji for taking proactive steps to protect lives and properties across the state.

Residents of Ise-Ekiti have welcomed the government’s intervention. Chief Godwin Ojo, a community leader, expressed gratitude to the governor for his timely action.

Advertisement

“We thank the governor for the move to avert flooding in our community,” Ojo said. “May God grant him more wisdom to pilot the affairs of the state to an enviable height.”

The dredging campaign forms part of the Oyebanji administration’s broader commitment to environmental safety and disaster prevention.

Advertisement
Continue Reading

Developmental

Tinubu to visit Kaduna Thursday to inaugurate key projects

Published

on

Tinubu commiserates with Akwa Ibom governor over wife’s death

President Bola Tinubu is expected in Kaduna State Today Thursday for the inauguration of several key developmental projects executed by the administration of Gov. Uba Sani.

The News Agency of Nigeria (NAN) reports that the visit forms part of activities marking Sani’s two years in office.

The projects lined up for inauguration include the 300-bed Specialist Hospital in Millennium City, Kaduna, built by the state government to bolster the provision of healthcare services.

Advertisement

Tinubu will also inaugurate the Institute of Vocational Training and Skills Development in Rigachikun, road projects in Soba, and Samaru Kataf LGA’S as well as the 24-kilometre Kafanchan Township Road.

Others are the Tudun Biri Road, the 22km road linking Kauru and Kubau LGAs as well as the Vocational and Skills Training Centre in Tudun Biri.

Tinubu is also expected to unveil 100 Compressed Natural Gas (CNG) buses, as part of efforts to modernise the state’s public transportation system.

Advertisement

The projects are part of the administration’s focus on infrastructurde evelopment, healthcare delivery, youths empowerment, and economic growth.

The state government described the visit as a significant moment for the people of Kaduna and an opportunity to showcase ongoing efforts to transform the state through impactful governance.

Sani, who marked his second year in office this month, has prioritised human capital development, rural infrastructure, and jobs creation since taking office in 2023.

Advertisement

Tinubu’s visit to Kaduna State was rescheduled from Wednesday to Thursday.

He was initially supposed to visit Kaduna on Wednesday, but due to the recent attacks in Benue, he shifted his trip.

The president visited Benue on Wednesday to commiserate with the victims of the recent attacks and assess the humanitarian crisis.

Advertisement

During his visit to Benue, Tinubu met with stakeholders, including traditional rulers, political and community leaders, and youth groups, to seek lasting solutions to the hostilities.

He also condemned the ongoing violence and called on the residents to embrace peace and mutual understanding.

NAN recalls that the Benue Government had declared a work-free day for Tinubu’s visit, urging the residents to turn out in large numbers to welcome him.

Advertisement
Continue Reading

You May Like

Copyright © 2025 Acces News Magazine - All Right Reserved.

Verified by MonsterInsights