News

Publisher Of Veracity Desk, Ajibulu Felicitates Pastor Oluwaleke Toba, Host Of Hallelujah Everyday Podcast

Published

1 day ago

November 13, 2024

By Kayode Sanni-Arewa

The publisher of Veracity Desk (veracitydesk.com), an online news platform, Emmanuel Ajibulu has celebrated Reverend Oluwaleke Toba, a Pastor, entrepreneur and host of Hallelujah Everyday Podcast, as he marks his birthday on November 12, 2024.

The birthday message was contained in a statement the media personality personally signed and made public on Tuesday.

In the statement, Ajibulu thanked Pastor Oluwaleke for his daily prayers for the country, people’s businesses, careers and for his “wise counsel”.

The statement read in full, “I truly feel elated to join others in celebrating the grace of stewardship and leadership upon your life sir, as you mark your birthday today, Tuesday, November 12, 2024.

“Sir, your daily prayers for the country, people’s businesses, careers, your wise counsel as well as your patriotic zeal and manifest determination to see Nigeria succeed are deeply appreciated and have equally been identified as core ingredients of the great virtues deposited in you for greater glory through the grace of Almighty God.

“Today, I celebrate with you on this special day and appreciate God for keeping you for the expansion of his kingdom on earth and thank you for answering the call of God on your life.

“I pray that your new age is filled with all the blessings of the Lord and laced with more unction to function. As your days are, so shall be your strength and may God grant you all the required grace needed for life, family and ministry.

“I pray that God will continue to empower you for all He’s doing through you in the Body of Christ. May your words continually be backed up by signs and wonders in Jesus name, Amen. Congratulations sir, and may you continue to be a beneficiary of God’s multiplied blessings, sound health and prosperity,” the statement concluded.

News

Brain Drain, Infrastructure, Resource Allocation Challenges Of Health Sector – Reps

Published

2 minutes ago

November 15, 2024

Gloria Ikibah

By Gloria Ikibah

The House of Representatives has highlighted the detrimental impact of the mass migration of health workers from Nigeria, describing it as a major challenge to the country’s healthcare system.

The Chairman, House Committee on Health Institutions, Rep. Amos Magaji, stated this during a public hearing on 16 bills aimed at establishing various health institutions, on Thursday in Abuja.

Rep. Magaji underscored the need for better distribution of healthcare facilities, particularly in rural areas, to address population growth and healthcare gaps.

He noted, “Recently, there has been an enormous migration of doctors, nurses, and other health workers in search of ‘greener pastures,’ leaving Nigeria’s health sector severely understaffed. To improve the sector, we must invest in human resources, medical intelligence, and the administrative appointment of capable persons based on merit.”

The Chairman also brought to light the infrastructural deficiencies in healthcare institutions across the country, citing inadequate funding, lack of maintenance, and insufficient equipment as recurring issues.

The Minister of Health, Prof. Mohammed Ali Pate, represented by Dr. Jimoh Olawale Salahudeen, in his submission warned against the duplication of health institutions, and stated that such efforts would strain the already scarce resources.

He explained, “Existing Federal Teaching Hospitals and Medical Centers in Nigeria, including those in the North West, already provide cardiovascular care and related services. Establishing a new institute would add financial burden without addressing the core issues.”

Pate also acknowledged the migration of health workers and the need for a stronger workforce to handle emerging health challenges.

“The Federal Ministry of Health supports the establishment of new institutions but insists on considering geographical spread, population density, and disease burden in proposed locations,” he added.

The hearing emphasised the need for balanced development in the healthcare sector, adequate funding for existing institutions, and policies to retain health professionals in Nigeria.

News

Access Bank (UK) Limited to Acquire AfrAsia Bank Limited

Published

17 minutes ago

November 14, 2024

Gloria Ikibah

By Gloria Ikibah

Access Holdings PLC has announced that its subsidiary, The Access Bank UK Limited (“Access UK”), has signed a binding agreement to acquire a majority stake in AfrAsia Bank Limited, the third-largest bank in Mauritius by total assets.

Mauritius, known for its strong financial sector, which contributes 13.4 per cent to its GDP, offers Access UK a strategic base to grow its personal and corporate banking services.

This was contained in a statement by its Company Secretary, Sunday Ekwochi, made available to Naijablitznews.com on Thursday.

According to Ekwochi, the acquisition will also position Mauritius as a hub for Access Bank’s trade finance operations, enhancing its ability to manage cross-border transactions across Africa and internationally.

AfrAsia Bank, as of June 30, 2024, reported total assets of over $5.7 billion and a net profit after tax of $152.4 million, underlining its solid financial position.

**Key statements on the acquisition:**

– Managing Director/CEO of Access Bank Plc, Roosevelt Ogbonna, speaking on the acquisition said: “This acquisition is a crucial step in our African growth strategy, strengthening our position as a top Pan-African financial institution. Mauritius’ role as a financial hub aligns with our vision to unlock opportunities that drive trade, support businesses, and promote economic inclusion across the region.”

Also Managing Director of Access Bank UK, Jamie Simmonds, stated: “AfrAsia Bank’s strong balance sheet and established brand in Mauritius give us a solid platform for sustainable growth. This deal supports our strategy to diversify earnings and provide clients with seamless access to global markets.”

Access Bank UK aims to promote sustainable growth, deliver innovative financial solutions, and support trade between Africa and the world.

The acquisition process will be finalized in the coming months, with updates provided as needed.

News

FEC approves ₦47.9tn 2025 budget

Published

2 hours ago

November 14, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The Federal Executive Council, FEC, has approved a proposed national budget of ₦47.9 trillion for the 2025 fiscal year.

Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this on Thursday while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu.

This was part of the Medium-Term Expenditures Framework, MTEF, for 2025 to 2027 and in line with the Fiscal Responsibility Act of 2007.

“And equally, the fiscal objectives were conservative, because we want to ensure that we study the course much as we believe the projections will be exceeded.

“The budget size that was approved for presentation to the National Assembly in the MTEP is ₦47.9 trillion, with new borrowings of ₦9.2 trillion to finance the budget deficit in 2025,” Bagudu said.

“We need to sustain the market deregulation, commendable market deregulation of petroleum prices and exchange rate, and to compel the Nigerian National Petroleum Corporation Limited to lower its oil and gas production cost significantly, and even to consider the need to amend the relevant sections of the petroleum industry act 2021 to address the significant risk to Federation.

“The Federal Executive Council approved the Medium Term Expenditure Framework and the physical strategy paper, and it will be submitted to the National Assembly.

“This is in addition to bills that are already at the National Assembly, the economic stabilization bills and tax reform bills, which we believe we will have a very, very strong growth in 2025.”

During the meeting, the FEC approved its submission to the National Assembly as required by the 2007 Fiscal Responsibility Act.

The framework projected a gross domestic product (GDP) growth rate of 4.6 percent, an exchange rate of $75 to the naira, and oil production of 2.06 million barrels per day. [Channels TV]