ColdHubs Nigerian maker of solar-powered fridge wins $1m in Dubai

 

ColdHubs, a Nigerian company based in Owerri, that produces solar-powered fridge for rural farmers is among four companies that won a $1 million prize set up by the Ruler of Dubai.

The award was announced in Dubai on Monday, according to UAE newspaper The National.

ColdHubs won in the food security category, with the masterminds expressing joy for making it:

On Facebook, ColdHubs wrote: “We are proud to announce that we are the WINNER of this year’s #GlobalMakerChallenge Innovation for Peace and Justice. Winning for Food Security is a thing of joy for us.

A walk-in ColdHub fridge

“We appreciate the MBR Initiative for Global Prosperity team and everyone who has been there with us”, it said.

The Global Maker Challenge invited businesses around the world to pitch ideas which could benefit the world’s poorest people.

The Mohammed bin Rashid Initiative for Global Prosperity, which runs the challenge, said the finalists were selected from more than 3,400 entries.

A ColdHubs refrigerator in a market

“We appreciate the MBR Initiative for Global Prosperity team and everyone who has been there with us”, it said.

The Global Maker Challenge invited businesses around the world to pitch ideas which could benefit the world’s poorest people.

The Mohammed bin Rashid Initiative for Global Prosperity, which runs the challenge, said the finalists were selected from more than 3,400 entries.

ColdHubs fridges help preserve perishable foods produced by rural farmers in developing countries.

They are particularly effective in areas where farmers’ markets are common. But many of these lack cold storage, meaning food can be wasted.

“Food is precious,” said Nnaemeka Ikegwuonu, the chief executive of ColdHubs. “The cold room can be installed in open markets and I and my team strongly believe with so much advancement in science and technology there is no need for food to spoil.”

The Nigerian prize-winner used to be an agricultural radio host and the child of farmers.

He won the 2020 Waislitz Global Citizen Disruptor Award.

He said he would use the $50,000 cash prize, “to build two ColdHubs in two fruit and vegetable markets, saving 3,285 tons of food from spoilage yearly, increase the income of 200 users, and create four new jobs for women.”.

The other three winners in Dubai include the Simbi Foundation, a developer of solar-powered learning centres that gives access to digital education;

Plastics for Change, an ethical sourcing platform; and Poket, a crowd-sourced registry of offline merchants that can map rural supply chains.

The prize was split into different challenges – solving challenges refugees face when accessing services and how to ensure growing populations can access healthy and sustainable food were only two.

The 20 finalists used machine learning, artificial intelligence, smart materials or cloud networks to devise solutions to these problems.

The companies, along with eight runners-up, will now receive financial prizes, mentorship and access to global organisations worth up to $1 million.

Judges included members of Massachusetts Institute of Technology’s “Solve initiative” – a programme that seeks solutions from tech entrepreneurs to address the world’s most pressing problems – alongside 47 other experts.

- PM NEWS

Kwara first lady secures apartment for blue-eyed Risikat, husband

Olufolake Abdulrazaq, wife of Kwara governor, has secured an apartment for Risikat, the blue-eyed woman who recently reunited with her husband after their marriage crisis.

The spotlight had beamed on Risikat after she alleged that she was thrown out with her daughters due to her features.

The first lady, however, intervened while also promising to empower Risikat ahead of a possible reunion with her husband.

On Saturday, the couple had renewed their vows at a ceremony held in Ilorin, Kwara state capital.

According to Punch, Yinka Adeniyi, press secretary to the governor’s wife, said she secured a two-bedroom apartment for the couple within the Ilorin metropolis through her Ajike Support Group.

“We wanted to secure a shop for the lady to sell patent medicine, but when we went to pay for both the shop and the apartment, we were told that somebody else had paid for the shop and we only paid for the apartment and asked the couple to look for another shop,” Adeniyi said.

“Thereafter, the Ajike Support Group will obtain a licence for the lady to operate a patent medicine store and stock the shop for her.”

- THECABLE

Chike-Obi: Politicians want Nigerians to make sacrifices yet drive around in 30-car convoys

 

Mustapha Chike-Obi, chairman of Fidelity Bank Plc, has advised political office holders to join poor Nigerians in making sacrifices during tough economic times.

Speaking in an interview with Arise TV, the former chairman of the Asset Management Corporation of Nigeria (AMCON), said poor people should not be left to make all the sacrifices.

“There is no need for the president or any governor to have 100-car convoy when they are going anywhere. We need to cut governance and make everybody see that the leaders are making sacrifices for this double-digit growth,” Chike-Obi said, answering a question about the possibility of Nigeria recording double-digit economic growth.

“If we make these sacrifices, we are going to have some breathing room. We need time, between five to 10 years

“People are not making sacrifices. They want the poor people to make sacrifices but if you look at the governors and you see them with 30-car convoys and they live wonderful lives and they fly around in private jets.”

In recent times, the federal government has increased the rate of value-added tax and adjusted petrol and electricity prices to reflect costs. Some Nigerians have kicked against these actions; accusing the government of being insensitive during a pandemic.

“Double-digit growth is doable, difficult and requires sacrifice from every sector of the economy, starting at the top,” he continued.

“Look at the fight to death over the governorship of Edo. Edo is an average state but they are fighting to death of the governorship because the rewards of being a governor are so high.

“We should make the rewards much less attractive so that the people that do it do it for love of country, not for the benefits they are going to get.

“Symbolically, all people in government should make Nigerians aware that they are making sacrifices. They’ve cut their salaries, entourages and such. Those things don’t amount to much but they are symbolic.

“National assembly should make symbolic gestures to show Nigerians that we are all in this together. They are not doing that.”

Speaking on Nigeria’s debt to GDP ratio, Chike-Obi said Nigeria’s debt is not excessive rather it was the debt to service ratio that needs to be addressed.

“The debt itself is not excessive, what we need to do is reduce debt service, borrow some more money and direct it at areas that will create a sustainable economy.”

He listed the priority areas that need urgent investment to include infrastructure, education and health.

- THECABLE

Alleged fraud: EFCC arraigns bank staff, others

 

The Economic and Financial Crimes Commission (EFCC) Sokoto has arraigned a banker, Ezeagbor Chijioke alongside two others Anthony Chidiebere Nneji and Ibenegbu Chukwudi Francis.

They were arraigned before Justice Muhammad Muhammad of the Sokoto State High Court on four-count charges on conspiracy, forgery and obtaining money by false pretences to the tune of N1million.

The agency received intelligence of alleged conspiracy to defraud one Olajide Adeshina Muhammad Misbahudeen under the guise of Central Bank of Nigeria (CBN) Treasury Bill investment.

EFCC said the suspects allegedly forged and issued Misbahudeen a fake certificate.

Count one read: “That you Ezeagbor Chijioke while being the Direct Sales Agent of First City Monument Bank (FCMB) Plc, Anthony Chidiebere Nneji and Ibenegbu Chukwudi Francis of the C. S. Paper Works business center, on or about the 20th day of February 2020 at Sokoto, within the jurisdiction of this honourable court, with intent to defraud falsely obtained the total sum of N1,000,000 from one Olajide Adeshina Muhammad Misbahudeen under the guise of investing the money in Central Bank of Nigeria Treasury Bills which you knew to be false and thereby committed an offence contrary to Section 1(1)(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.”

The defendants pleaded not guilty to the charges when they were read.

Prosecution counsel, S. H. Sa’ad asked for a date for commencement of trial.

Counsel to the first defendant, Y. Y. Gwazawa, and counsels to the co-accused prayed for time to file bail applications.

Justice Muhammad adjourned the case to September 24, 2020 for trial.

He ordered that the defendants be remanded in the NCS pending the hearing and determination of bail.

- DAILY POST

Daddy Freeze to Ibiyeomie: Here is my father, mother, wife, child (PHOTOS)

 

Daddy Freeze, with family

Critic, Daddy Freeze has released photos of his father, mother, wife and a child to shame founder of Salvation Ministries, in Port Harcourt, Pastor David Ibiyeomie.

Ibiyeome had on Sunday threatened to kill Daddy Freeze for insulting Bishop David Oyedepo.

He said Daddy Freeze was insulting Oyedepo because he had no father and that if he had one, he should show his picture for the world to see.

Ibiyeome also said Daddy Freeze had no wife as the one he has had left him.

According to him, “The day Daddy Freeze insults Oyedepo, I will deal with him and arrest him. Who gave birth to you? Do you have a father? Show us his picture.

“Oyedepo will not talk but I can’t be alive and you insult my father. I curse the day you were born. I will tear you into pieces you bastard. He is insulting him because he has no father.

“You can never insult a father if you have one, be warned. A man whose wife left him, has no good job, will be insulting my father and people will be laughing online. I will never be alive to see such and do nothing again.”

Daddy Freeze, however, raised the alarm on Tuesday that Ibiyeomie was after his life and that he should be held responsible should anything happen to him

Daddy Freeze, with family

However, Daddy Freeze displayed the photos of his father, mother, wife and two children on Tuesday on his Instagram and Twitter pages for Ibiyeomie to see.

- PM NEWS

Champions League, Europa: Arsenal, Man Utd, Chelsea, others to pay £519m bill

 The Premier League teams that played in Europe last season, are set to pay a huge TV bill, as they continue to bear the impact of the coronavirus.

European Club Association (ECA) chairman, Andrea Agnelli, on Tuesday revealed that the continent’s biggest clubs and UEFA, have agreed to pay back up to £519million to its broadcast partners.

Liverpool, Chelsea, Arsenal, Tottenham, Manchester United, Manchester City and Wolves represented England in the Champions League and Europa League during the 2019/2020 campaign.

Along with the rest of Europe’s elite, they will now pay a huge rebate to TV companies.

Agnelli said: “We have seen very important rebates to the principal broadcasters both at domestic level and at the international level.

“We have seen a £330million rebate in the Premier League, we have seen a downturn in the Bundesliga domestic rights of about €200million.

“We are in the process of finalising the account with UEFA with a reduction of around €575million (£519m) for the international club competitions, and that is all money that is normally distributed.”

The figure that each club will pay individually, will be a percentage of their total earnings from their respective campaigns.

- DAILY POST

’41 attacks’ on journalists in Nigeria between January and August

 

More than 40 attacks on journalists in Nigeria have been recorded between January and August 2020, an analysis by the International Press Centre (IPC) has revealed.

Melody Akinjiyan-Lawal, IPC programme officer (journalists safety), disclosed this on Monday, during a webinar organised by the centre in collaboration with the Association of Communication Scholars and Professionals of Nigeria (ACSPN).

The webinar had as its theme, “Edo/Ondo Elections – The Imperative of Safety Consciousness and Conflict Sensitivity in Media Coverage and Reportage”.

Citing some instances in which journalists were targeted, Akinjiyan-Lawal said the nature of the attacks included unlawful arrest/detention, physical assault, harassment, threat to life, battery, and damage of gadgets.

IPC listed some of the journalists attacked as Alex Ogbu of The Regent African Time magazine who was shot by policemen in the federal capital territory (FCT) on January 21 — he eventually died — and Eyo Charles of Daily Trust Newspaper, who was verbally assaulted by Femi Fani-Kayode, a former minister of aviation, while participating in a media briefing in Cross River on August 20.

Also cited was Vincent Ake, general manager of Tide Newspaper in Port Harcourt, Rivers, who was reportedly sacked for publishing a report on the first case of COVID-19 in the state on March 26.

Ake’s sack was said to be based on an allegation that he did not get approval from the Rivers task force on COVID-19 before publishing the report.

Statistics from IPC’s journalist safety desk revealed that in the last eight months of this year, not less than 41 cases of attacks on journalists have been recorded,” Akinjiyan-Lawal said.

A breakdown of the figure showed that 35 males, five females and one media organisation have been at the receiving end of assault in 2020.

“Journalists need to take into cognizance that nothing has changed much in the way and manner our politicians view elections as a do-or-die affair,” she added.

“In this regard, it is important for journalists to situate their role and interest in the context of the two major stakeholders — the politicians and the people.”

ournalists were counselled to be non-partisan in the performance of their duties, handle classified information with care and deal peacefully with security officials.

- THECABLE

Oyedepo: I’ll make you my assignment – Charly Boy attacks Pastor Ibiyeomie

 

Maverick entertainer, Charles Oputa, popularly known as Charlyboy, has reacted to Pastor David Ibiyeomie’s attack on a popular On Air Personality (OAP), Daddy Freeze.

Charly Boy took to his official Instagram account on Monday to condemn Ibiyeomie’s threats to kill Freeze.

He also warned that If Ibiyeomie has decided to make Freeze a topic, he will make the pastor his ‘assignment’.

It all started when Freeze criticized Bishop David Oyedepo of the Living Faith Church for saying women should submit to their husbands.

Reacting, Ibiyeomie called the media personality a bastard, threatening to kill him.

In a viral video from his Sunday service, the Port Harcourt-based Pastor threatened to deal with Freeze.

He also cursed the day the OAP was born.

And reacting to this, Charly Boy, wrote: “Look at these Con Men Of God.

“So pastor Ibiyeome is saying that The Chief Racketeer, Pastor Oyedepo can’t make mistakes because he’s all-knowing?

“Even in the house of worship calling my anointed Daddy Freeze a Bastard?

“Pastor Ibiyeome, Who is your father?

“Were you not born on the express road because that is where most accidents happen. Is Oyedepo man or God?

“I know you have your head far into Oyedepo’s ass that you cannot see or hear clearly any more.

“If you decide to make Daddy Freeze a topic, I will make you my Assignment.

“God punish useless fake Pastors.”

- DAILY POST

Manchester United unveil third kit for new season

 

Manchester United have unveiled their third kit for the 2020/2021 season. We think it is beautiful.

Designed with adidas, the kit presents a visually distinctive design, inspired by striped jerseys from the club’s history.

“From United’s first striped kit over 100 years ago, to the eye-catching designs of the 1970s and 80s, the latest release aims to provide a fresh update to tradition, while delivering a vibrant new print”, the club said on their website.

“To create this new design, adidas re-drew, hacked and re-imagined combined elements from various jerseys throughout the club’s long history to create a bold new pattern. Utilising United’s iconic club colours of red, white and black, the kit is an original story with a modern update.

“The result is surprising, unexpected and demonstrates a continued ambition to push the boundaries of shirt design.

The release of the new third shirt follows the launches of the new home kit, which celebrates the club’s DNA with an imprint of “MANCHESTER UNITED” running through the shirt, and an away jersey which pays homage to the club’s famous travelling away support.

- PM NEWS

Northern coalition to Buhari: We’re tired of excuses — sack service chiefs

 

The coalition said they voted Buhari into power because of his experience as military head of state, and so, expect the best from him.

Rising attacks by various groups including Boko Haram insurgents and bandits have led to the loss of lives across the country.

As a result, many Nigerians, including federal lawmakers, have mounted pressure on the president to take a firm step to address the situation by sacking service chiefs.

In a statement on Monday, the coalition said there is no part of the north-central that is not experiencing terrorist attacks, adding that “Nigerians are tired” of rhetoric regarding the security situation.

“We join other well-meaning Nigerians to call on Mr. President to immediately restructure the current security architecture in the country with the sacking of the service chiefs as the first steps,” the statement, signed by Usman Bida, CNCE chairman, read.

“Nigerians are tired of rhetorics and promises of the security situation getting better.

“We are saddened that there is no state in the North Central that is free from terrorists’ attacks or that has not had its own fair share of the mindless killing of innocent citizens one time or the other, a region that was the most peaceful in the entire North.”

The coalition said it was still reeling from the shock of an arrest “over 400 terrorists with dangerous weapons” in Nasarawa state only for the Nigeria Customs Service to alert the country of the presence of Boko Haram insurgents in parts of the north-central.

“As it stands today, the well-meaning citizens of North Central and Nigeria are frightened by this information,” it said.

“Some parts of Nasarawa, Niger and Kogi States are no-go areas because of the activities of these terrorists that kill, kidnap, and rob people at will as if we are in a Banana republic.

“We voted for President Buhari because of his vast experience in security and integrity and we expect the best from him.

“Mr. President, we are with you and will always be, but we feel your continued retention of the service chiefs for the last five years running is totally against the wishes of Nigerian people given that it is causing a lot low morale and bad work zeal in the entire Armed Forces. We appeal that you act now.

“Mr. President, sir, four officers cannot be more experienced than thousands of the officers we have in the armed forces. It is on this note that we appeal to you to, as a matter of urgency and national importance, sack them from office.”

- THECABLE

Barcelona: What Koeman told Messi after returning to first training

 

New Barcelona coach, Ronald Koeman, on Monday told captain, Lionel Messi, how happy he is that his star player will be staying at the club beyond this summer.

Messi finally returned to the club’s pre-season training for the first time ahead of the 2020/21 season on Monday.

The 33-year-old, who now wants to reintegrate himself into the team following his failed attempt to leave Barcelona this summer, was seen driving into the Ciutat Esportiva in Sant Joan Despi at just after 4:00 pm on Monday evening.

According to Mundo Deportivo, before the training session, Koeman took Messi aside for a quick chat, their first since the Barca No. 10 wanted to leave Camp Nou.

Koeman told Messi that he only wants players who are committed to Barcelona, adding that he will treat him as a “special” player, though he will not receive the special treatment he was afforded under previous managers.

He also promised Messi that he would do his best to make the Blaugrana one of Europe’s most feared teams again.

Messi trained alongside Philippe Coutinho in Monday’s session, building up their fitness.

Barcelona will continue their training session on Tuesday ahead of their 2020/21 La Liga opener against Gimnastic on Saturday.

- DAILY POST

Daddy Freeze breaks silence: Pastor Ibiyeomie after my life

 Critic and On-Air Personality, Daddy Freeze has broken his silence and called on the police and other security agencies to hold Pastor David Ibiyeomie, founder of Salvation Ministries, in Port Harcourt, responsible should anything happens to his life.

Ibiyeomie had in a viral video on Sunday attacked Daddy Freeze, calling him a bastard for daring to challenge his father in the Lord, Bishop David Oyedepo.

He threatened to kill him if he should dare speak ill against Oyedepo again. According to him, “The day Daddy Freeze insults Oyedepo, I will deal with him and arrest him. Who gave birth to you? Do you have a father? Show us his picture.

“Oyedepo will not talk but I can’t be alive and you insult my father. I curse the day you were born. I will tear you into pieces you bastard. He is insulting him because he has no father.

“You can never insult a father if you have one, be warned. A man whose wife left him, has no good job, will be insulting my father and people will be laughing online. I will never be alive to see such and do nothing again.”

Daddy Freeze, however, on Monday evening replied Ibiyeomie, saying that even with a gun to his head, he would continue to preach the truth about Christ, the scriptures and Christianity.

He said he never insulted Oyedepo, but only drew his attention to Ephesians 5:21 after Oyedepo quoted verse 22 of the same chapter on submission of the woman to her husband at home.

“Correcting scripturally is not an insult. Christ was criticised, Paul was criticised, Peter was criticised, even the Pharisees were criticised, so there is no way you are going to preach a message from the scripture that you will not get criticism.

“I found it very devastating that just to get at me, Pastor Ibiyeomie, would drag the whole Somali nation, I am very proud to associate with Somalians because they are very beautiful people. Beautiful African people like you and I. It is hate speech to undermine them with derogatory words ‘Is he not just a Somalian? To all my fans and followers in Somalia, I love you all and proud to be associated with you, even though by birth I am not a Somalian; my mum is European, my father is Yoruba.”

According to Daddy Freeze, in a 10 minutes video on Youtube, “I will need to draw the attention of the public and the law enforcement to the threat of life that was issued to me in that video. Pastor Ibiyeomie, I don’t know if you realise that threat to life is a criminal offence and let it be on the record that you threatened my life.

“Is this how Nigeria is going to accept this? if anything happens to me, I hope you know who to hold responsible? This has been on social media space for the past 24 hours now, I am yet to hear anything from the police, what happened to our laws on hate speech, racism, discriminatory statements, threat to life which is actually criminal? ”

Daddy Freeze added: “You said you will finish me, to my understanding, that is another Criminal offence, and if anything happens to me, I am speaking to the public, to the police and the world at large, should anything happens to me, whatsoever, I want you to know who to hold responsible.

“Everyday we shout for freedom of speech, how can our dreams be shattered with threats of death from the ones we expect to guide our spiritual lives? Even with a gun to my head, I will continue to preach the word of God and debunk errors with the Scriptures.”

Daddy Freeze also castigated Ibiyeomie for making derogatory remarks about the broadcast industry, saying “Pastor Ibiyeomie, you went all again to undermine the noble profession of broadcasting, I am a proud broadcaster for the past 25 years, I have dedicated my life to it, you demean it to such a great extent, such a glorious profession that disseminate important information.

“Are we going to make broadcasters feel bad because of how little money is there? Maybe broadcasters should start collecting offering too that it will make you feel that someone of your calibre is talking to you. I think you should apologise to every journalist and broadcasters for undermining our world.”

Daddy Freeze described Ibiyeomie as a racist for calling him half-cast and demanded an apology.

“Are you aware that the word ‘half cast’ is racism? The world is fighting against racism and it brings tears to my eyes that a black man will refer to a fellow black man at a time people are crying that ‘black lives matters,’ as a half cast. Hate speech is criminal, it is derogatory and I ask that you should apologise for it,” he said.

He continued: “You say I am not my father’s son, I put it to you to prove who my real father is because with that verbal construct, you have insulted the integrity of my mother who is a professor of law.

“Pastor Ibiyome, do you honestly believe that the tenets of Christianity were upheld in that video? Do you believe that as a pastor behind the pulpit, you show the likeness of Christ in your utterances in that video? Is what you did in line with Christianity and scriptures?”

- PM NEWS

Ogun finally reopens schools

 

The Government of Ogun State has finally reopened schools, five months after they were shut down to prevent community transmission of coronavirus.

The state government said schools should reopen on September 21 for the first term of 2020/2021 session.

In a statement by Kunle Somorin, the Chief Press Secretary to Governor Dapo Abiodun, on Monday, it was announced that the reopening of schools is extended to all classes in primary and secondary schools, technical and vocational colleges, and tertiary Institutions of learning.

According to Kunle Somorin, universities, polytechnics and colleges of education are to resume same day, September 21.

However, as part of COVID-19 guidelines, school hours are staggered for public schools.

DAILY POST reports that pupils in Primary one to three will be in school from 8am to 11am; while those in Primary 4 to 6 will be in classes from 12 noon to 3pm.

For those in secondary schools, the hours are staggered in the same manner among those in junior and senior classes.

According to Somorin, technical and Vocational will operate their normal school hours of 8am to 2pm.

He maintained that Early Child Care Development and Education classes for infants from 3 to 5 years of age will not be resuming in public schools until the next phase of schools reopening.

“Tertiary institutions are allowed to commence reopening from 21 September, 2020 as may be determined by their respective Management,” he said.

- DAILY POST

Don’t encourage policies that make Nigerians poorer, NESG tells FG

 

The Nigerian Economic Summit Group (NESG) has advised the federal government not to encourage policies that make Nigerians poorer.

In a statement signed by Asue Ighodalo and ‘Laoye Jaiyeola, its board chairman and chief executive officer respectively, the body listed matters that needed “serious attention”.

The NESG said there is a need to overhaul the management and support being given to the agricultural sector given the huge food requirement gap that currently exists in the country.

“Despite the budgetary allocations and huge sums of money disbursed by the Central Bank of Nigeria (CBN) through the Anchor Borrowers’ Programme, a huge gap remains in meeting the food requirements, which has resulted in increasing hunger among the Nigerian populace. Evidently, the issues are beyond money,” the policy think tank group said.

It also urged stakeholders who have raised issues about certain provisions of the recently enacted Companies and Allied Matters Act (CAMA) 2020 to follow due process in seeking review and that the government give them a fair hearing.

It advised that the government to carry out stakeholder consultations on the petroleum industry bill (PIB) so that the law will create the required enabling environment for investment flows, reserves enhancement, technology transfer and utilization efficiency.

“The Group expresses serious concerns about how the Central Bank of Nigeria (CBN) has carried on the business of foreign exchange transactions, loan disbursements (intervention funds) and price fixings without appropriate policy clarity,” it said.

“This can be subject to abuses, manipulations and significant market disruptions, reflective of a policy akin to crony capitalism. We therefore respectfully request the appropriate authorities to properly review this policy to restore credibility into our financial sector.

“The NESG has expressed severe concerns about certain provisions of the ‘repealed and re-enacted’ Bank and Other Financial Institutions Act 2020.

“The Bill contains certain provisions which breach the provisions of the Nigerian Constitution, confers immunity on CBN officials and exempts actions by the CBN from judicial review. These are draconian, totalitarian and inimical to the development of a stable and transparently regulated financial sector.”

It also expressed concerns about distortions in the liquidity and interest rate management, which it said has resulted in rate distortions causing grave disadvantage to domestic investors and pensioners.

“Our country needs to mobilise domestic savings and investments even as we seek to attract foreign investment and we should be careful not to initiate policies that appear to discriminate against or discourage domestic savings and investors,” the NESG said.

Commending the federal government for the price deregulation in the oil and electricity sectors, the think tank said reforms to facilitate smooth functioning of the fuel and electricity market should be implemented.

It also urged the federal government to reopen the borders given its negative impact on trade and employment.

“We also call on the government to ratify the African Continental Free Trade Agreement (AfCFTA), so that we can move to full membership status and take our rightful place in subsequent negotiation rounds,” it advised.

It said the country’s resort to borrowing to fund the deficit that has now been worsened by the COVID-19 pandemic is not sustainable in the medium to long term.

It advised that a strong communication strategy be deployed to prepare the people for the tougher times ahead whilst the current reforms take effect.

- THECABLE