Ahead of the highly anticipated roll out of the Student loan scheme by the federal government, President Bola Tinubu has approved the appointment of Mr. Jim Ovia as the Chairman of the Board of the Nigerian Education Loan Fund (NELFUND). This was made known by a State House press release signed by the Presidential Spokesperson, Chief Ajuri Ngelale. Jim Ovia is the founder of Zenith Bank, a new generation bank that is currently one of Nigeria’s leading banks. He is an alumnus of Harvard Business School and holds a Master’s in Business Administration from the University of Louisiana. The National…
Author: Michael Chibuzo
By Michael Chibuzo Peter Obi finished third in the 2023 presidential election under the platform of the Labour Party, buoyed by a strong religious and tribal sentiments that characterised the presidential election. He was able to create a base of ardent supporters for himself called Obidients. This support base is mostly populated by highly ignorant and easily impressionable fellows who also exhibit fascist tendencies but lack any clear cut ideology. Perhaps, Peter Obi’s over-performance at the 2023 polls gave him a false confidence that he can actually win a presidential election in Nigeria. Like a trader, he did some basic…
In keeping with his campaign promise to establish a consumer credit scheme in order to make goods and services more affordable and accessible for Nigerians, President Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme (CCS). According to a press release by the Special Adviser to the President on Media and Publicity, Chief Ajuri Ngelale, the essence of establishing the consumer credit scheme is to enable citizens to enhance their quality of life by accessing goods and services upfront, while paying responsibly over time. Ajuri went on to state that the consumer credit scheme…
By Michael Chibuzo The former Governor of Anambra State and presidential candidate of the Labour Party in the 2023 presidential election, Mr. Peter Obi has described the Lagos-Calabar coastal road project as unnecessary. Mr. Peter Obi who once said infrastructure does not grow an economy, voiced his opposition to the Lagos-Calabar superhighway mega project in a post on his X handle on Monday. Mr. Peter Obi hinged his opposition to the project on the basis that there are numerous uncompleted roads scattered across the country, which according to him should be completed first before embarking on the monumental coastal road…
The Nigerian Army has dismissed two soldiers who were caught while trying to steal armoured cables from the premises of Dangote refinery in Ibeju Lekki. This is according to a press release signed by the Director of Public Relations in the Nigerian Army, Major General Onyema Nwachukwu. The army in the statement said, “In line with Nigerian Army’s (NA) commitment to upholding high standard of professionalism, integrity and discipline, the NA wishes to update the general public on the outcome of the investigation into the alleged theft of armoured cables at the Dangote Refinery premises on 14th April 2024, involving…
By Michael Chibuzo Nigeria is a highly unusual country with a handful of paradoxes, one of which is the misfortune of having, perhaps the largest population of unpatriotic citizens in the world. There is no other country apart from Nigeria where you will find a huge number of people actively praying for bad news to befall their country! I was drawn to put up this piece by the disturbing commentaries I have seen from many of my fellow countrymen regarding our strengthening national currency especially in the wake of reports showing a dip in our foreign reserves on one hand…
The Nigerian economy is witnessing a slowing down of monthly inflation rate increase according to the consumer price index report for March 2024 released by the National Bureau of Statistics on Monday. The consumer price index (CPI) report, which measures the rate of change in prices of goods and services, shows that the March, 2024 headline inflation rate increased by 3.02%, which is lower than the 3.12% increase witnessed in February, 2024. Also, the food inflation rate slowed down marginally in March, 2024 to 3.62% from the 3.79% monthly increase recorded in February, 2024. This points to an easing in…
By Michael Chibuzo On February 25, 2024, serial presidential candidate, Atiku Abubakar jumped on a Reuters article that cast a positive light on Argentina’s new president, Javier Milei and his austerity economic programme, which led to a slowing down of Argentina’s monthly inflation rate. Atiku was quick to hail President Milei of Argentina for whatever it is that was happening in the Argentinean economy and derived special joy knocking Nigeria’s President, Bola Tinubu, rather ignorantly I must say. Atiku Abubakar openly said he was attracted to the reforms in Argentina because Javier Milei’s stabilisation plan bears resemblance to his “Recover…
A judge of the Federal High Court in Lagos, Justice Abimbola Awogboro has handed down a verdict, sentencing controversial cross-dresser, Mr. Idris Okuneye, famously known as Bobrisky, to six months in prison with no option of fine. The judgment is coming days after the anti-corruption agency arraigned Bobrisky before Justice Abimbola on April 5. Bobrisky upon his arraignment had pleaded guilty to all the four count charges slammed against him by the EFCC bordering on Naira abuse. The judge consequently found him guilty of abuse of the Naira and slated Tuesday, April 9th for sentencing. Unfortunately, the eid fitr holiday…
The Labour Party has become a theater of chaos following the latest twist in the crisis engulfing the party especially as it regards who takes over from Mr. Julius Abure who has been National Chairman of the party since 2018. On Wednesday, the Abure-led National Working Committee of the party held a national convention in Enugu where the entire NWC members were ‘re-elected’. However, many stakeholders, including Mr. Peter Obi distanced themselves from the Nnewi convention. Prior to the convention, the Labour Party moved the venue of the convention thrice – from Benin City to Umuahia before eventually settling for…