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Nigeria Exited Recession Faster Than Expected – World Bank

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Nigeria Exited Recession Faster Than Expected - World Bank

The World Bank has said Nigeria moved out of last year’s recession faster than expected.

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Nigeria slipped into recession in the second quarter of 2020 amid the economic fallout of the COVID-19 pandemic but emerged from it in the fourth quarter.

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Finance

ICPC cautions Federal hospitals, finance directors against budget-padding

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ICPC cautions Federal hospitals, finance directors against budget-padding

The Chairman of the Independent Corrupt Practices and Other Related Offences Commission ICPC, Prof Bolaji Owasanoye, SAN, has condemned the padding of budget by government officials, warning that the Commission won’t tolerate breach of government financial rules and regulations.

Owasanoye, according to a statement on Friday, by the ICPC spokesperson, Azuka Ogaga, advised the hospitals managements to carry out a proper evaluation of the number of personnel needed and for which services so as not to overshoot the number of non-regular staff required.

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He pointed out that it was an aberration for Federal Medical Centres to have more staff than teaching hospitals and criticised the fraudulent practices associated with outsourcing of services which was prevalent in the hospitals.

He noted that a review of the health sector undertaken by the Commission revealed that funds meant for specific projects in hospitals had been diverted to other unimportant areas.

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On internally generated revenue, Owasanoye told the finance directors that agencies which receive allocations from government were expected to pay 100 per cent of their IGRs into the government treasury to avoid abuse.

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Osinbajo Calls For Coordination Between Govt, MDAs To Promote Economic Diversification

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Osinbajo Calls For Coordination Between Govt, MDAs To Promote Economic Diversification

Vice President, Yemi Osinbajo, has called for synergy between various tiers of government, Ministries, Departments, and Agencies at all levels.

Professor Osinbajo stated this on Friday in a keynote address delivered virtually at the 19th meeting of the National Council on Development Planning themed “National Development Planning in Nigeria: Issues and Challenges”.

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He said the coordination between the government and the MDAs was important to ensure that  national plans are inclusive In other to  promote high growth and economic diversification.

According to him,  Nigeria’s economic plan should  be modern and ambitious but yet realistic and flexible enough to absorb shocks and adapt to swiftly changing domestic and international conditions.

He further stressed that these  plans must accelerate domestic resource mobilisation and capacity building While noting that the best possible environment for the private sector to invest and operate must be created in other for Nigeria’s economy to thrive

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Finance

Nigeria’s Devt Plans Must be Dynamic for Economic Growth-Osinbajo

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Nigeria's Devt Plans Must be Dynamic for Economic Growth-Osinbajo

Vice President Yemi Osinbajo has stressed that Nigeria’s national development plans must promote economic diversification, be ambitious, realistic, flexible enough to absorb shocks and adapt to swiftly changing national and international conditions so as to bring about an economy that works for all, especially the poor and vulnerable.

Osinbajo stated this on Friday in a keynote address delivered virtually at the 19th meeting of the National Council on Development Planning themed “National Development Planning in Nigeria: Issues and Challenges”.

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According to him, such plan is necessary in order to bring about a society and economy that works for all, especially the poor and vulnerable, adding that such plan, among other things, must promote economic diversification, be modern, ambitious, realistic and flexible.

Referencing the Buhari administration’s Social Investment Programmes (SIPs) as an example of deliberate efforts aimed at ensuring inclusive growth, he said that an aspect of national planning that is often overlooked is how to manage distributional outcomes in a rapidly changing economic environment.

He said that on top of mind for Mr President is how to lift 100 million Nigerians out of poverty in this decade as they radically re-engineer the productive base of the economy in agriculture, manufacturing, mining and the digital and creative sectors.

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COVID-19 PREVENTION

infectious diseases in your community. It is very important to wash your hand frequently with soap under running water.

COVID-19 IS REAL

#COVID19NIGERIA Situation Report

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

The #COVID19Nigeria situation report for 21st July, 2020 has been published. Our daily reports provide a summary of the epidemiological situation & response activities in Nigeria

@Africa CDC

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

The African Union and Africa CDC will virtually rollout the Partnership to Accelerate COVID-19 Testing (PACT) in Africa tomorrow 4 June, 2020 at 11.00 am Eastern Africa Time.

GALLANT OFFICER

Gallant Officer
"Also found worthy of honour was Bashir Abubakar, an Asst Comptroller-General of Customs, who rejected a bribe of $412,000 per container offered him by drug traffickers seeking to bring 40 containers of Tramadol into Nigeria. A fine example of incorruptibility, worthy of emulation"

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