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1 year agoon
National Leader of All Progressives Congress (APC), Sen. Bola Tinubu, has urged Federal Government to make cash payments to households through Bank Verification Numbers (BVN) to cushion the effects of COVID-19 pandemic on Nigerians.
Tinubu, a former governor of Lagos State, gave the advice in a statement issued in Lagos on Wednesday.
He said payments could be made quickly by using the BVN of prospective recipients to make direct deposits into individual bank accounts.
The APC leader said the use of BVN would also be safer and not lead to the types of violence and crime that might follow physical cash transfers.
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Tinubu said this would even encourage those without bank accounts to establish such accounts and this process would further bring millions of people into formal banking.
“The money-less family still needs food, water, shelter and, to a lesser degree, utilities. In a compassionate society, they should not be made to do without.
“Most families need relief. If relief is not forthcoming, these families risk hunger and its attendant suffering and woes,” Tinubu said.
He said the palliative measures would blunt hunger, maintain aggregate demand in the domestic economy and help sustain private-sector markets to the extent possible.
Tinubu explained that such payments could be done in either one or in a combination of three ways.
He said: “First, we can designate a stipend for every household. The amount should be enough to pay for the monthly needs of an “average” household for food and other basics.
“While this may somewhat penalise larger families, perfection cannot be had at this time.
“Second, the stipends could be given as a form of emergency unemployment insurance to those who can prove they were relieved of employment due to the crisis.
“This will be more targeted at the actual victims of the crisis but harder to administer. This stipend will also have to be extended to owners of small and medium-sized businesses.
“Third, the government can render some form of payroll support to companies and businesses that seek to retain workers albeit they may not be fully employed.
“The stipend can help companies stay in operation while maintaining workers on their payroll. By maintaining workers, the company can more swiftly return to full operation when normalcy returns.”
Tinubu said payment of these stipends would require hiring additional government workers to augment the existing bureaucracies to implement that programme.
According to him, this administrative requirement will help boost employment and aggregate consumer demand.
He said that activating Trader-moni and other programmes would help many small-scale traders but not the average wage earner who just lost his job.
On agriculture, the APC national leader called for the re-establishment of commodity boards for strategically important crops to maintain adequate supply of food and ensure price stability.
He said that these boards would specify a guaranteed minimum-maximum price range for these crops in order to maintain and stabilize farm incomes as well as consumer prices.
According to Tinubu, the country faces a “trade-off between certain pandemic and possible widespread depravation.
“This situation presents a historic chance to establish more beneficial social contract between government and the governed,” he said.
He also urged government to expand the school feeding programme to many states consistent with applicable public health measures.
“By expanding this programme, we help feed our most vulnerable children while creating extra jobs and bolstering food production and farm incomes,” he said.
On debt relief, Tinubu called on African finance ministers to join a coordinated effort for debt forgiveness, while urging the World Bank and other DFIs to agree to a wholesale debt rollover by reducing the interest rate burden of African nations by at least one half.
He also urged the CBN to lower interest rates to single digits to spur some private sector and lower the charge on government deficit spending.
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1 week agoon
April 10, 2021Published
5 months agoon
December 4, 2020It described as unfortunate the failure by government to produce a plan for the purchase, distribution and administration of the therapy despite the fact that many nations globally had done so.
Adopting a motion sponsored on Thursday, Dec 3, by Senator Oloriegbe Ibrahim during plenary presided over by Senate President Ahmad Lawan in Abuja, the upper legislative chamber directed its Committee on Health and Primary Health Care to summon the Ministries of Health and Finance, as well as the Presidential Task Force (PTF) on COVID-19 and other relevant agencies for their plans.
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The lawmakers regretted that “the only plan on COVID-19 vaccine for Nigeria is the pledge by Global Alliance for Vaccine Initiative (GAVI) to support 20 per cent of the country’s requirement.”
This support, according to them, would cover only the cost of the treatment without taking care of logistics for distribution and administration.
The legislature added: “Despite the change in the epidemiology trends of the disease, the financial plan developed by the country and World Bank in April 2020 to fund the response to the pandemic is still being implemented without taking due cognisance of the changes by re-allocating the funds to vaccine procurement.”
It noted that failure to administer vaccines in the nation would result in Nigeria’s inability to contain further infections and a possible ban on Nigerians by countries across the world.
Published
5 months agoon
November 5, 2020The Chinese authorities have issued fresh travel restrictions into China by Nigerians and other nationals in Nigeria holding valid Chinese visas or residence permits.
A public notice issued by the Embassy of China and Consulate in Nigeria today November 5, states that the decision was based on the COVID19 concerns in Nigeria. Other countries placed on temporary travel restrictions include the United Kingdom, Belgium, Luxembourg, Philippines, and a few others.
The Chinese embassy says it will no longer issue certified health declaration form for non-Chinese nationals in the country. It, however, said holders of diplomatic passports, courtesy, or C visas would not be affected by the regulation.
‘Notice of temporary suspension of entry into China by non-Chinese nationals in Nigeria holding valid Chinese visas or residence permits.’
Due to the COVID-19 pandemic, China has decided to temporarily suspend entry into China by non-Chinese nationals in Nigeria holding visas or residence permits still valid at the time of this announcement.
The Chinese Embassy and Consulate in Nigeria will no longer issue a certified health declaration form for the above-mentioned personnel. Entry by holders of diplomatic service, courtesy or C visas will not be affected.
Foreign nationals visiting China for emergency needs may apply for visas at the Chinese Embassy or Consulate. Entry by non-Chinese nationals in Nigeria with visas issued after November 3, 2020, will not be affected.” the public notice read
Reacting to the development, the spokesman, Chinese Foreign Affairs Ministry, Wang Wenbin, told AFP that the entry suspension was a legitimate and valid move consistent with international customary practices.
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