ONIGBESE AGBAYE ( AGBA YAHOO) !!! FG plans N12tn fresh borrowing, public debt to hit N50tn by 2023

The Federal Government hopes to push its public debt stock to N50.22tn by 2023, with domestic debt at N28.75tn and external debt at N21.47tn.

This is according to the projections in the National Development Plan 2021-2025.

The Debt Management Office had disclosed that Nigeria’s public debt was N38tn as of the end of the third quarter of 2021, with the total debt stock rising by N2.540tn in three months from July to September 2021.

Sorry, the video player failed to load.(Error Code: 100013)An investment analyst, Omosuyi Temitope, said that although the debt servicing to revenue ratio would exceed even by 2022, the government seemed to be borrowing for obvious reasons.

He said, “As a matter of fact, debt service to revenue would remain above 80 per cent in 2022, but there are obvious reasons the government needs to embrace more borrowing.

“First, no nation can achieve long-lasting development without some forms of borrowing to finance growth-enabling projects and programmes. Nigeria’s infrastructure needs are very essential to her sustainable and inclusive growth.

“Everyone can clearly deduce the negative impact of poor infrastructure on the nation’s growth, ranging from the high cost of doing business to the high cost of living amidst a general unimpressive living condition, just to mention a few.”

This shows that the regime of the President, Major General Muhammadu Buhari (retd.),  plans to accumulate about N12tn debt in two years from 2021 to 2023.

However, based on the plan, the government targets a reduction in total public debt by 2025.

A tabular illustration in the document showed that the government targets N39.59tn debt stock for 2021, N46.63tn for 2022, N50.22tn for 2023, N50.53tn for 2024, and N45.96tn by 2025.

The government also discloses that it needs money to finance the plan of N348.1tn, and the borrowing framework in the plan is 45 per cent each for both foreign and domestic borrowing.

The plan read in part, “The plan will require an investment of about N348.1tn to achieve the plan objectives within the period of 2021-2025. It is estimated that the government capital expenditure during the period will be N49.7tn (14 per cent) while the balance of N298.3tn (86 per cent) will be incurred by the Private Sector. Of the 14 per cent, government contribution, FGN capital expenditure will be N29.6tn (9 per cent) while the sub-national governments’ capita

“The borrowing framework in the plan is 45 per cent each for both foreign and domestic borrowing while the other financing sources account for 10 per cent. Domestic bonds and concessional external loan financing, amongst others, will account for the borrowing strategies for the plan. Thus, the government will improve on current debt management strategies to ensure sustainability.”

An investment analyst, Omosuyi Temitope, said that although the debt servicing to revenue ratio would exceed even by 2022, the government seemed to be borrowing for obvious reasons.

He said, “As a matter of fact, debt service to revenue would remain above 80 per cent in 2022, but there are obvious reasons the government needs to embrace more borrowing.

“First, no nation can achieve long-lasting development without some forms of borrowing to finance growth-enabling projects and programmes. Nigeria’s infrastructure needs are very essential to her sustainable and inclusive growth.

“Everyone can clearly deduce the negative impact of poor infrastructure on the nation’s growth, ranging from the high cost of doing business to the high cost of living amidst a general unimpressive living condition, just to mention a few.”

He, however, stressed the need for the debt to be sustainable through the creation of assets and value that justify the debt.

“Nonetheless, it is imperative for the government to ensure debt obligations are sustainable by creating assets and value that justify the ballooning debt stock,” he said.

Current debt rate is worrisome, borrowing pace not sustainable – Tella

On his part, a professor of Economics at the Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Prof Sheriffdeen Tella, said debt level was worrisome and the government should not be considering more borrowing, urging the government to consider other ways of generating revenue.

He said, “Even at the level that we are now, it is worrisome, not to talk of planning to borrow more. It is unfortunate that the government is always thinking of borrowing, instead of thinking of other ways to generate revenue.

“They can ensure that public-private partnership projects are built, once operational and yielding capital, though whoever implemented it can generate their money plus interest and then the project becomes ours and we can generate revenue from those. There are projects that we can scale down until we have enough funds to implement and there are projects that can generate money on their own.

Go after wealthy Nigerians, who owe the country instead of borrowing – Economist

“Instead of always thinking of borrowing, the government can go after those that owe the country, For instance, NEITI recently detected some money that is being held by some wealthy individuals, money that runs into trillions but the government isn’t going after those funds.”

He added that the government’s borrowing pace was not sustainable as revenue generated would be used to service debts. 

“Also, our borrowing pace is not sustainable, because almost all the revenue generated by the country is used to pay the current debt and that is why the government doesn’t have enough to pay for a lot of its expenditure,” he added.

Rising debt profile raises sustainability concerns – CPPE

An economist and the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, said that the increasing debt profile of the government raised some sustainability concerns

Yusuf, who is a former Director-General of the Lagos Chamber of Commerce and Industry, said, “The rising debt profile of the government raises serious sustainability concerns.  Although the government tends to argue that the condition is not a debt problem, but a revenue challenge.  But the truth is that debt becomes a problem if the revenue base is not strong enough to service the debt sustainably.  It invariably becomes a debt problem.”

He also stressed the need to cut down expenditures and implement reforms that could reduce the costs of governance and ease the fiscal burden.

“What is needed is the political will to cut expenditure and undertake reforms that could scale down the size of government, reduce governance cost, and ease the fiscal burden on the government.

“It is imperative for the country to operate as a true federation which it claims to be.  The unitary character of the country is making it difficult to unlock the economic potentials of the sub-nationals.  It is perpetuating the culture of dependence on the federal government.

“It is necessary to scale down the size of government and cost of governance.  Fiscal sustainability is driven by both cost and revenue. Therefore managing the major drivers of cost and revenue is imperative. As far as possible, the government should push back in sectors or activity areas where the private sector has the capacity to deliver desired outcomes. We should see more concessions and privatisations at all levels of government,” he said.

He added that the debts, which should be concessionary, should be used to strictly fund capital projects that would boost the productive capacity of the economy.

“It is important to ensure that the debt is used strictly to fund capital projects that would strengthen the productive capacity of the economy.  This is the position of the Fiscal Responsibility Act.

“Additionally, emphasis should be on concessionary financing, as opposed to commercial debts which are typically very costly,” he added

FG has been borrowing irresponsibly – Moghalu

A former Deputy Governor of the Central Bank of Nigeria and former presidential candidate, Kingsley Moghalu, condemned the constant borrowing of the Federal Government, saying it was irresponsible.

He said, “I condemn the borrowing plan in its entirety. I think the Federal Government of Nigeria has been borrowing irresponsibly and mortgaging the future of the youth of Nigeria.

“This should stop. The damage will be very difficult to repair. There is no need for Nigeria to be borrowing at the rate it is borrowing and the huge sums it is borrowing.

“There is an element of callousness in this. They are doing everything as possible to borrow before 2023, and then walk away and hand over the problem to someone else.”

FG is becoming reckless in borrowing – CACOL

The Executive Director of Centre for Anti-Corruption Open Leadership, Mr Debo Adeniran, said that the government is becoming reckless in borrowing at a fast pace.

He said, “The government is fast becoming reckless in the way it is borrowing, yes, it might have its reasons to have resorted to borrowing because of the infrastructural deficit and collapse which was in existence before this administration came in. but this administration needed to understand that it could not solve all the problems of more than 50 years overnight.”

He added that taking interest-yielding loans will likely enslave the citizens and future generations.

“And taking interest-yielding loans is likely to enslave us and the generations to come. Most of the countries that are giving us loans are entrapping us like China. All the infrastructures we are using their loans to build are very sensitive and if they are to take over it Nigerians will suffer,” he added.

He advised the government to recover looted funds, which would be useful in funding infrastructure projects.

“What I believe that the government could have done is to recover looted funds and what the looters procured with the proceeds of their crime, that will go a long way in covering some of the infrastructural gaps that we are bridging with the loans,” he said.

SOURCE - PUNCHNG

Man allegedly kills girlfriend for ritual purpose in Edo

 

A suspected ritualist, known as Osa, has allegedly killed his girlfriend, Elohor Oniorosa, for money ritual purposes.

The incident reportedly occurred on Christmas Eve somewhere in a suburb of Egor Local Government Area, Benin, Edo State, when the suspect allegedly invited the deceased to his family house, where he reportedly slaughtered her.

Operatives of Edo State Police Command have launched a manhunt for the suspect.

Though details of the murder still remain sketchy at the time of filing this report, but SP Kontongs Bello, the Edo Police Command spokesman, has confirmed the sad incident.

Bello stated that the father of the deceased, William Oniorosa, reported the incident at one of the state police divisions.

Reacting to enquiry on the incident, Bello said: “The suspect’s name is Osas. Surname unknown, who is a boyfriend of Elohor Oniorosa, daughter of one William Oniorosa, who reported that incident to the police.

“Investigation is on. Meanwhile, the suspect is on the run. The incident happened on the 24/12/2021.”

Meanwhile, a similar incident happened in Osun State a few months ago.

Police Command in Osun  arrested one Kabiru Oyedun,39, for being in possession of dismembered body parts of a girl.

The suspect and his friend Akin, currently at large, allegedly killed the girl and removed vital organs.

- DAILY POST

#junglemadman !! Insecurity: Buhari will end insurgency in next 17 months – Presidency

 Adesina said Buhari government would take out those behind insurgency within the next 17 months remaining.

Speaking with Channels Television, the presidential spokesman recounted how the Tamil Tigers in Sri Lanka was taken out after 28 years of rebellion.

According to Adesina: “Nothing is impossible. I always refer to the Tamil Tigers in Sri Lanka.

“That rebellion lasted for 28 years. But one day, the mastermind of that rebellion was taken out and that was the automatic ending of it.

“Those who are behind this insurgency will be taken out. They are being taken out one after the other and it will get to a point that the last of them will be taken out, and then we’ll get to the end of it. It can be done within 17 months that remains for this administration.”

- DAILY POST

IPOB insists on removal of Nigerian flags in S/East, commends churches, others for complying

 

The Indigenous People of Biafra, IPOB, has insisted on the removal of all Nigerian flags from the southeast.

IPOB made the remark while commending churches and institutions that complied with its earlier directive.

The group had ordered banks and other organizations across the region to remove all Nigerian flags from October 1.

IPOB also ordered a sit-at-home in protest of Nigeria’s independence.

However, spokesman of IPOB, Emma Powerful on Saturday vowed to dismantle Nigerian flags still hoisted in the region.

He warned institutions in the region against failure to comply with the directive by removing Nigerian flags within their domain.

Powerful also commended those who complied with the sit-at-home order yesterday.

According to Powerful: “We wish to thank all those that complied with our directive to sit-at-home today, 1st October, 2021.

“We thank you all for your compliance, and for rejecting Nigeria and her tribalalistic Fulani-controlled government in Abuja.

“We equally appreciate and commend those institutions and churches including companies who, on their own, dismantled Nigeria flags in their premises. IPOB will never relent in our resolve to restore Biafra.

“Any institution, company, hotel, etc that is yet to comply with this directive should stop waiting for us to remove the flags for them. They should simply do the needful because disobedience is not a good option.”

Some institutions across the southeast were reported to have removed Nigerian flags hoisted within their premises, following the directive.

- DAILY POST

Makinde: Nigeria can regain its lost glory through restructuring

 

Seyi Makinde, governor of Oyo state, says Nigeria can only regain its lost glory if the country is restructured.

Speaking on Saturday at the unveiling of SATVIEW Network, a homegrown digital television outfit, in Ibadan, the state capital, the governor said the push for a restructured Nigeria is aimed at making it regain the series of achievements recorded by the first generation leaders.

In a statement by Taiwo Adisa, chief press secretary to the governor, Makinde said his administration will continue to identify, encourage and support talented youths to grow businesses in the state.

“So, I came here today to let our people know that all is not lost. We are pushing for a restructured country because when we achieved all of these firsts, the country was not overcentralised at that time,” Makinde said.

“We believe that when we push through the agenda to restructure the country, we will be in a better position for people to unleash their talents, not just the local economy, but also to place us where we really belong in the comity of nations right across Africa.

“So, the SATView Network is not the first network to bring programme to our people but what is unique about this offering is, once you buy the decoder, you are not going to pay any money. That is the difference.

“Oyo State, Ibadan precisely, hosted the first TV station in Africa. Almost all of us here have DSTV at home and the money we are paying to DSTV is going directly to South Africa because that is where the parent home is.

“We missed the road but we believe that, with the talents that we have, if we nurture them, we can get our position back as truly the first in Africa.”

The governor added that it is unbelievable that Nigeria, which had the first television station in Africa, now relies on foreign television networks for clear signals.

- THECABLE

#JUNGLE !! After serving Borno State as teacher for 35 years, man hawks to survive

 

Al-Amin Shettima Bello, a Borno man who served the government as a teacher for 35 years and retired meritoriously is now hawking along the streets of Maiduguri, the Borno State capital.

Shettima Bello who spoke with newsmen in good English said he was taught by the British.

He said in his school then, there were only a few Blacks who were teachers namely: the late Dr. Shettima Ali Monguno, Shettima Kashim and late Shettima Mustapha Kutai (Father to the current Senator representing Borno Central in the green chamber, Kashim Shettima).

Malam Bello who shared his story with newsmen along the roadside said Professor Bosoms Sheriff of the University of Maiduguri was his school mate.

“Professor Bosoms was ahead of me with one year because he completed his primary education in 1966 while I completed in 1967. He is older than me in class not by age, ” Bello said.

Speaking about his education, he said, ” I started schooling in Yerwa Central and completed in 1955 where I proceeded to Trade Business and trained as a carpenter. I worked as a carpenter for several years before my parents decided that I go back to school again. I went to Old Bama Primary School and completed in 1967 where I proceeded to Borno Teachers College.”

Bello who always stationed himself around the First Bank ATM centre at the Maiduguri Monday Market said it was strategic to take position where people who come to withdraw can be approached easily in order to market his products.

He explained that hawking ‘mentholated rub’ is the business he has chosen to do, looking at his income and people’s needs, especially during the seasons.

” Teaching is an exciting job but there is no money in it. It is a sacrifice. Now that I have retired, I can only help myself with the little from this business rather than being a dependant on people,” he said.

Shettima Bello believed that there are many of his classmates who are doing well out there who may not have remembered him or know that he is still existing.

- DAILY POST

Nigeria has Africa’s highest out-of-school children

 

Minister of State for Education, Chukwuemeka Nwajiuba said that Nigeria has an estimated 10,193,918 Out-of-School Children, the highest in sub-Saharan Africa.

Nwajiuba stated this during the inauguration of “Better Education Service Delivery For All (BESDA)”, in Katsina on Monday.

The programme started in 2018.

According to him, the Nigerian Education system is characterised by high illiteracy level and infrastructural decay.

“We have inadequate number of qualified teachers, inadequate infrastructural facilities/resources and poor funding,” he added.

Nwajiuba congratulated the Katsina State Governor, Aminu Masari, on his giant stride to reposition education in the state.

He said this is a clear demonstration of high leadership quality and personal commitment to education.

The minister stated that BESDA focuses on 17 states in the country, including all 13 states of the North-West and North-East geo-political zones.

Niger, Oyo, Ebonyi and Rivers are also included.

Masari commended the Federal Ministry of Education and the Universal Basic Education Commission (UBEC) for their laudable programmes for the education sector.

- PM NEWS

NDLEA arrests 10 ‘online drug traffickers’ in Abuja

 

The National Drug Law Enforcement Agency (NDLEA) says it has arrested ten suspected online drug traffickers operating in Abuja.

Femi Babafemi, NDLEA spokesman, said in a statement on Sunday that the agency arrested the suspects following their undercover operation during the week.

Among those arrested was one Ese Patrick, who was accused of running an illicit drug business on Instagram.

Babafemi said the 28-year-old was picked up alongside her boyfriend as they brought deliveries for undercover NDLEA operatives who had ordered the drugs online.

He said the agency subsequently raided Patrick’s residence and “confiscated 400 grams of Arizona weed”, which she allegedly uses in baking the brownies.

Peter Nkejika, another suspect, was also apprehended on May 24 after his despatch rider was picked up with “N510,000 worth of Loud”, a highly psychoactive variant of cannabis.

Also apprehended was one Dolapo Benjamin, said to be the owner of five motorcycles allegedly used in distributing the drugs.

In Gwagwalada, the NDLEA said it seized drugs weighing 105.5 kilograms in a luxury bus and arrested three persons in connection with the illicit substance.

Meanwhile, Babafemi said the agency also confiscated drugs that were being transported to New Zealand and the United Arab Emirate in Lagos.

“The agency has 445 grams of Methamphetamine going to New Zealand and concealed inside USB chargers and hair attachments, with another 450 grams of cannabis Sativa going to UAE and concealed inside local soap containers at a courier company in Lagos,” he said.

- THECABLE

Governor Sani Bello out of Nigeria as bandits rule Niger state

 

Governor Abubakar Sani Bello of Niger is at present not in Nigeria as bandits increasingly turned his state into a playground.

The bandits latest acts were the attacks on several communities in Tegina, Wushishi and Batati.

The bandits capped their reign of impunity with the kidnapping of over 200 students of Tegina Islamiyya school on Sunday.

But in a shock disclosure, the chief press secretary to Governor Bello said the governor had left the country before the recent attacks on “a security mission”.

“The Gov who had left the country to explore all possibilities of strengthening the state’s security architecture before the incident happened, is expected back soon.

“He has, however, given directives to the security operatives and state govt officials to do all they can towards ensuring the safe return of the abducted Tegina Islamiyya children and others”.

Bandits on Sunday not only kidnapped the students of Salihu Tanko Islamic School in Tegina, they also kidnapped some passengers of a Sharon Bus travelling to Minna.

Two persons were shot in the course of the mass abduction in Tegina, Rafi LGA.

One of them was confirmed dead, while the other person is critically injured.

“The State Govt is still gathering detail security report on the attack so as to take necessary measures to secure the release of those abducted”, the chief press secretary said on Twitter.

Niger state in central Nigeria has been, in recent times, been facing unrelenting attacks by bandits and terrorists, leading to displacement of thousands of people from their villages.

In February, 42 people were abducted for ransom in Kagara, among them 27 students.

- PM NEWS

Gulak: We don’t spill blood, assassination not part of our agenda – IPOB insists

 

The Indigenous People of Biafra, IPOB, has insisted that it’s not a terrorist group and does not spill blood.

IPOB, while distancing itself from Gulak’s death, stressed that the assassination of politicians is not part of its agenda.

IPOB made the remark while insisting that it was not responsible for the murder of Ahmed Gulak, a former aide to ex-President Goodluck Jonathan.

Some gunmen murdered Gulak while on his way to Sam Mbakwe Airport in Owerri, Imo State, yesterday.

The Nigeria intelligence community had linked the Gulak’s killing to IPOB, but the state Police Command had refuted such claims.

Imo State Police Command spokesman, Bala Elkana, had said armed bandits murdered the former presidential aide.

However, Elkana later recanted his earlier remark, saying men of the Eastern Security Network, ESN, killed Gulak.

A Situation Report, SITREP, had confirmed that ESN operatives had waylaid and killed Gulak along the airport road at Obiangwu Junction at Ngor-Okpala Local Government Area.

Reacting, IPOB’s spokesman, Emma Powerful, distanced the secessionist group from the assassination.

A statement by Powerful reads: “The attention of the Indigenous People of Biafra (IPOB) ably led by our great leader, Mazi Nnamdi Kanu, has been drawn to the untenable allegation by the security agencies that IPOB was responsible for the assassination of former presidential aide to ex-President Goodluck Jonathan, Ahmed Gulak on his way to Sam Mbakwe Airport Owerri Imo State.

“We, therefore, state without equivocations that IPOB knows nothing about the said assassination. We had nothing in common with Gulak and could not have killed him.

“This is purely a smokescreen to justify their long awaited plan to declare another special military operation in the Eastern region to kill more innocent Biafrans.

“IPOB is not a terrorist organization and does not spill blood.

“For us, connecting with the assassination of Gulak is simply to pitch the East against the core Islamic North as a cover and justification for another round of pogrom against Easterners living in the North.

“We are only after the restoration of Biafra. Assassination of politicians is not part of our agenda.”

- PM NEWS

SOUTH VS PARASITE NORTH !!! IGP orders ‘Operation Restore Peace’ to crush IPOB, secessionist agitators

 

The Inspector General of Police, Usman Baba on Tuesday ordered the new special operational action plan, code-named, “Operation Restore Peace” to crush members of the Indigenous People of Biafra (IPOB) and other secessionist groups in the South East.

Baba officially launched Operation RP on Tuesday for the stabilization of security order in the South-East Geopolitical Zone of the country.

The IGP launched the special operation at the Michael Okpara Square, Enugu as part of efforts targeted at returning the South-Eastern region to its historical pride of place where its people are known to be peaceful, tolerant, innovative, industrious and entrepreneurial.

Baba noted that the special operation has become necessary to engender all-inclusive security actions to roll-back the murderous attacks, violence, proliferation of weapons and other threats to law and order occasioned by the separatist agenda being heightened by the Indigenous People of Biafra (IPOB) and its armed wing, the Eastern Security Network (ESN) in the South-East region.

The IGP observed that activities of the group in the region had assumed an armed dimension in which important political and community leaders as well as personnel and assets of the Nigeria Police, Military and other security agencies, critical national infrastructure are being constantly targeted in clearly well-coordinated, premeditated manners.

“This is in addition to deepening inter-ethnic prejudice and intolerance, unjustifiable inter-ethnic violence and counter-violence, loss of lives and massive destruction of properties,” he said.

Baba assured the nation that in the coming days the special operation would be extended to other parts of the South-East region to confront criminal elements, take the battle to their doorsteps and re-order cherished national values in the region.

The IGP further said that the “Operation RP” would be replicated in other parts of the country, to address peculiar crimes, including banditry, kidnapping, armed robbery, cultism, amongst others.

“The ‘Operation’ will be carried out by operatives of the Force in collaboration with the Armed Forces, the intelligence community and other sister security agencies.

“The personnel deployed have been charged to be civil with the law-abiding citizens, but firm and ruthless with criminal elements operating under any guise whatsoever who may attempt to test the collective will of the people,” he said.

Governor of Enugu State, Ifeanyi Ugwuanyi, commended the IGP for initiating the special operation.

He described the operation as timely, and believed it would help in rejigging and re-tooling the security architecture of the South-East.

Other dignitaries at the event are; the Deputy Governors of Abia, Ebonyi and Imo States, traditional rulers, religious leaders, among others.

- PM NEWS

Ngige: Workers threatening to switch off national grid over Kaduna strike

 

Chris Ngige, minister of labour and employment, has appealed to the Nigeria Labour Congress (NLC) to call off the strike in Kaduna.

The NLC embarked on a five-day warning strike on Monday to protest the disengagement of 4,000 workers across the state.

However, the Kaduna government had said the decision was taken because the huge wage bill wasn’t sustainable for the state.

According to a statement issued on Tuesday by Charles Akpan, his spokesman, Ngige said he has received information that workers in the power sector want to trigger a nationwide blackout in solidarity with their colleagues in Kaduna state.

According to NAN, the minister, however, appealed for calm and understanding on all sides.

“This is because we have it on good authority, following complaints by the Minster of Power that workers have threatened to trigger a nationwide blackout by interfering or switching off the national grid,” Ngige said.

Ngige, who said the federal government will wade into the matter, urged the workers to give room for dialogue.

“We are not unaware of what is going on in Kaduna state. It is a labour issue which has snowballed into a national strike and picketing by the two labour centres and affiliate unions,” the statement reads.

“We hope and also urge the Kaduna state governor not to escalate matters to such a level where it becomes uncontrollable. We also appeal to leaders of the labour centres to step down action to make way for discussion.

“My ministry is wading into the matter and therefore calls on the warring parties to give peace a chance.”

He also appealed to all workers on essential duties not to join the strike.

- THECABLE

EPL: Bruno Fernandes named Player Of The Year

 Manchester United midfielder, Bruno Fernandes has been named the Sir Matt Busby Player of the Year for the second successive season.

Fernandes is the Reds’ top scorer this season and has contributed 11 assists in the Premier League and five more in Europe.

The Portugal international also broke Frank Lampard’s goal record for a midfielder in the Premier League era with his goal against Liverpool last week.

Luke Shaw and Edinson Cavani emerged as the main rivals for the award, but Fernandes clinched it after polling 63% of the votes.

Mason Greenwood and Marcus Rashford finished in fourth and fifth respectively.

- DAILY POST

Anthony Joshua reveals plan B if fight with Fury fails

 

Promoter Eddie Hearn revealed that Anthony Joshua is looking for another opponent after Tyson Fury was ruled to fight Deontay Wilder again.

Hearn also gave Fury a deadline of the end of this week to resolve his obligations to Wilder and confirm a fight with Joshua.

Joshua may instead face Usyk and then reschedule a fight with Fury to December.

Fury had previously confirmed that he would face IBF, WBA and WBO titleholder Joshua on August 14 in Saudi Arabia in the most anticipated fight in the sport, but 24 hours later a court of arbitration ruled that he must meet Wilder again by September 15.

Asked if he was now looking at a different opponent for Joshua, Hearn told Matchroom: “Absolutely. I had been focusing on Plan A. The only fight was Fury and we hope it can still take place.

“The game changed – we have to have a Plan B in place, and probably a Plan C.

“We have different options. The one that springs to mind is Usyk.

“If Team Fury don’t get their act together by the end of this week then we will have no option but to look for an alternative fight”.

- PM NEWS

NAFDAC approves Johnson & Johnson COVID vaccine for emergency use

 

The National Agency for Food and Drug Administration and Control (NAFDAC) has given approval for the use of Johnson & Johnson (J&J) COVID-19 vaccine in Nigeria.

Mojisola Adeyeye, director-general of NAFDAC, made the announcement in a statement issued on Tuesday.

The NAFDAC DG said the vaccine is for emergency use.

The approval brings to three the number of COVID-19 vaccines approved for use in Nigeria by the agency — after AstraZeneca and Pfizer were authorised in February and April respectively.

Adeyeye said the agency made a thorough evaluation of the J&J vaccine and concluded that the data on the vaccine was robust and met the criteria for efficacy, safety and quality.

She said the benefits of the vaccine outweigh its known risks.

“Results from a clinical trial involving people in the United States, South Africa and Latin American countries found that Janssen COVID-19 vaccine is effective for 18 years of age and above,” she said.

“The Phase III clinical trial involved over 44,000 people. Half received a single dose of the vaccine and half were given placebo (a dummy injection).”

The NAFDAC DG said the trial found a 67 percent reduction in the number of symptomatic COVID cases after two weeks in people who received J&J COVID-19 vaccine.

She said the vaccine will be monitored and subjected to several procedures that applied specifically to COVID-19 vaccines.

According to her, the manufacturers had been required to provide monthly safety reports in addition to the regular updates generated by NAFDAC activities.

Adeyeye said the ministry of health and the National Primary Health Care Development Agency (NPHCDA) will announce when the vaccine becomes available for use in the country.

- THECABLE