Headlines
Palliative: Financial Expert Warns Tinubu Against Sharing N8,000 To Poor Nigerians
A financial expert, Gbenga Adeoye, has asked President Bola Tinubu to quench the plan by his government to distribute N8,000 to 12 million poor Nigerians in six months.
Recall that the President, on Thursday, requested N500 billion from the National Assembly, supposedly to be distributed to poor Nigerians as palliatives to cushion the effects of the fuel subsidy removal.
In the letter, Tinubu explained that his government would transfer N8,000 a month to 12 million poor and low-income households with a multiplying effect on about 60 million individuals.
But Adeoye, in an interview with DAILY POST, told the President that he would not be able to cushion the effect of subsidy removal through the planned distribution of N8,000.
While alluding to the fact that Tinubu was prepared for the job due to the actions he took immediately after he assumed office, Adeoye, however, said “I have been disturbed by the plan of the Tinubu government to give N8,000 cash palliative to 12 million poor Nigerians for six months.”
Explaining why the cash palliative should be avoided, the Chartered Accountant said that N8,000 to 12 million Nigerians will amount to N96 billion a month and N576 billion in six months.
“Cash palliative does not befit a country that has not reached optimal production level, it is good in a country that has attained optimal production level but the people are restricted from going out to work. An example of such is the United States of America where cash was distributed during COVID-19 Restrictions because people could not go out to perform their economic activities,” he explained.
In his recommendations, the Tax expert suggested that the Federal Government acquire 200 buses per senatorial district at N30m per bus, stressing that N666 billion would be spent on acquiring 22,200 buses.
“This will reduce the cost of transportation if handed over to relevant stakeholders to manage.
“Ensure regular maintenance and run it as a pure business but regulate the rate based on locations. Make monthly tickets available. USE card over time like in OYSTER Card in the UK.
“Ensure there are savings from the income generated from the buses to be able to replace them after five years. Let no politician use the bus for free.
“All Nigerians will benefit from this as most people will no longer have to worry about the high cost of petrol,” he stated.
The lawyer also suggested giving N1,000,000 to 600,000 entrepreneurs, who will engage in petty businesses and will be able to employ four other Nigerians.
”The money, he said, should be paid back over a period of 10 years at a 2 or 5 percent maximum rate and if possible, at no interest since N576bn proposed by Federal Government is a free gift anyway.”
Adeoye informed that this will create 3 million direct and indirect employments.
Expressing further concerns about the planned N8,000 palliative, he asked: “How do we determine the poor Nigerians? How do we ensure the spread across the country? What will N8,000 do monthly?”
The UK Arbitrator said, “In my considered opinion, that move will not solve the poverty problem and hardship arising from fuel Subsidy removal.
”To give N8,000 per month is to give N266.67 per day. This will not produce the desired result as it means giving less than N90 per meal if it is assumed that the so-called poor will eat three times daily.
“The worst aspect of cash palliative is that people return to their level at the end of the programme, and that will cause more havoc after 6 months and can lead to unrest.
“Lastly I repeat, Mr President, please do not give out cash palliative of N576b. The amount is too much for such and the two alternatives enumerated above will have better impact than N266.67 per day to 12 million Nigerians.”
The post Palliative: Financial Expert Warns Tinubu Against Sharing N8,000 To Poor Nigerians appeared first on Jomog.
Education
1ST NIGERIAN TERTIARY INSTITUTIONS CONFERENCE ON UN SUSTAINABLE DEVELOPMENT GOALS (SDGS) ESSAY COMPETITION
Competition Overview:
The SDG Youth Essay Competition offers a grand prize of N1 million for the top three winners, along with free sponsorship to attend the 1st Nigeria Tertiary Institution Conference on Sustainable Development Goals (SDGs) in April 2024 in Abuja.
Competition Requirements:
1. Eligibility:
– Open exclusively to undergraduates in Nigerian tertiary institutions.
2. Entry Guidelines:
– Topic:The Role of Students in Attainment of SDG4
– length: Essays should be 1500 words.
– Entry Period: Thursday, February 1, 2024 – Thursday, February 29, 2024
– Referencing: APA Style (6th Edition).
– Font: Times New Roman, 12-point font size.
– Documentation: Typed in 1.5 line spacing, MS Word format only.
– Plagiarism: Only original content is accepted; plagiarized entries will be disqualified.
Benefits:
– Prizes:
– 1st Prize: N500,000
– 2nd Prize: N300,000
– 3rd Prize: N200,000
– Winners will also receive free sponsorship to attend the 1st Nigeria Tertiary Institution Conference on Sustainable Development Goals (SDGs) in April 2024 in Abuja.
Required Documents:
– Student’s Institution ID Card
– Copy of Student’s Admission Letter
– One recent passport-size photograph
– WhatsApp telephone number and email address
Application Procedure:
– All entries and submissions (essay and required documents) should be scanned and sent to nigeriaessay@sdgyouth.org before the deadline.
For Further Inquiries:
– Call: 08068931151, 08133846739, 07067772964
– Email: nigeriaessay@sdgyouth.org
Deadline: February 29th, 2024
Don’t miss this opportunity to contribute to achieving SDG4 and win exciting prizes. Submit your entry and required documents before the deadline. For any inquiries, feel free to contact them via phone or email.
Competition Overview:
The National Essay Competition invites undergraduate law students to showcase their expertise and contribute to the discourse on AI, privacy, and data protection. In addition to cash prizes, participants have the chance to intern with Pentagon Partners, gaining valuable hands-on experience.
Competition Requirements:
1. Eligibility:
– The competition is open to 400-level and 500-level undergraduate law students in Nigerian universities.
2. Essay Requirements:
– Length: Essays should not exceed 1500 words.
– Format: Double spaced, 12pt Times New Roman font.
– References: OSCOLA format for citations with 10pt font size for footnotes and endnotes.
– Submission Format: Essays must be submitted in PDF format.
– Entrant Details: Include full names, school, level, phone number, and email address in both the body of the email and on the last page of the essay.
– Single Entry: Each entrant is allowed only one submission.
– Originality: Plagiarism will result in automatic disqualification.
Competition Benefits and Timeline:
1. Prizes:
– Winner: N200,000
– 1st Runner Up: N150,000
– 2nd Runner Up: N100,000
2. Internship Opportunity:
– In addition to cash prizes, winners have the exclusive opportunity to intern with Pentagon Partners, enhancing their career prospects.
Application Procedure:
– Interested participants should submit their essays to essay@pentagonpartnerslp.com during the submission period.
– The subject of the email should be the Essay topic
For additional information and updates, visit www.pentagonpartnerslp.com.
Deadline: March 22nd, 2024
Don’t miss this chance to showcase your legal expertise, contribute to important discussions on AI and law, and vie for enticing cash prizes. Pentagon Partners looks forward to receiving your submissions.
Purpose:
Inaugurated in 2020, the CDEC is part of SystemSpecs’ Corporate Social Responsibility (CSR) commitment to promoting capacity development in the Nigerian ICT industry. By encouraging young Nigerians to tackle everyday issues, the competition contributes to intellectual growth and societal progress.
Topic:
The theme for the 2024 competition is “Protecting the Nigerian Child from the Dangers of Online Technology.” Participants are tasked with exploring strategies to safeguard children in an increasingly digital world.
Eligibility:
– Open to primary and secondary school students in Nigeria aged 9 to 16.
– Junior category (ages 9 to 12) essays must not exceed 1,000 words.
– Senior category (ages 13 to 16) essays must not exceed 1,500 words.
Prizes:
– Winners will receive generous rewards, including a high-capacity laptop, premium headphones, a portable laptop stand, a smart wristwatch, and one year of internet data, among other items.
– Consolation prizes will be awarded to other participants.
Application Process:
– Interested candidates should access the application page
– Essays must be written in English and reflect original thought.
– Each participant is limited to one entry.
– Entries must be endorsed by an accredited school official, parent, or legal guardian.
– Deadline for submissions is April 12, 2024.
Submission Guidelines:
– All submissions must be in PDF format and include the student’s name, home and school addresses, email address, and contact phone number.
– Double entries will result in automatic disqualification.
– Submissions must be received by March 15, 2024, at 5:00 p.m.
Notification of Winners:
– Successful students and schools will be contacted in the second quarter of the year.
– Updates on winners will be announced on @nercng social media platforms.
The SystemSpecs Children’s Day Essay Competition offers a unique opportunity for Nigerian students to demonstrate their creativity and problem-solving skills. By addressing the theme of online child protection, participants contribute to building a safer and more secure digital environment for all. We encourage eligible students to seize this opportunity and showcase their talent and ingenuity.
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