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Lagos pushes for equitable revenue sharing formula

The Lagos State government has again demanded what it termed fair and equitable revenue sharing formula in Nigeria. The state, at the pre-Southwest stakeholders’ meeting on Tuesday to deliberate on the current revenue allocation formula by the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), said it was high time the extant revenue formula is readjusted. Rabiu Olowo, the commissioner for finance, Lagos State, speaking at the event, said it was organised in line with the recent call in a publication made by the RMAFC under the caption “call for memoranda on the review of the revenue allocation formula”. He said sensitisation was critical considering happenings in the country at the moment. “For instance, he said the number of states and local government has increased from 30 to 36 states, and 589 to 774 respectively. Read also: UK institution commits $50m to boost rural connectivity in Africa “The constitution prescribes a minimum limit of five years to operate an agreed formula before further review,” he disclosed. Speaking also, Oyeyemi Ayoola, the permanent secretary in the finance ministry, pointed out that the review of the revenue allocation formula was long overdue as stipulated by the law and considering different variables that had emerged in recent years. Some members of the state executive council at the event were Samuel Egube, commissioner for economic planning and budget; Wale Ahmed, commissioner for local government and community affairs and Moyosore Onigbanjo, attorney-general and commissioner for justice, who was represented by Saheed Adebiyi Quadri, a director in the ministry. Participants at the workshop in a consensus agreed that Nigeria cannot have a sustainable public service with the kind of resources being shared at the moment; hence the urgent need to review the revenue allocation formula.

Analysis-JPMorgan's 2021 deal spree aims to fill the few holes left in its global operations

NEW YORK (Reuters) - JPMorgan Chase & Co (NYSE:JPM) has been on a boutique-business buying spree this year, acquiring or investing in around 30...

FG, CSOs inaugurate technical group to monitor economic intervention for women

The federal government on Tuesday inaugurated a Technical Working Group to track, monitor and ensure accountability in the implementation of policies and budget allocation targeting women’s economic empowerment (WEE). The Ministry of Budget and National Planning, in collaboration with the National Institute for Policy and Strategic Studies, Kuru, and the Development Research (dRPC) and Projects Centre inaugurated the group which comprises Monitoring and Evaluation Officers from 10 ministries, departments and agencies (MDAs). Plangsat Dayil, consultant, dRCP project and director, centre for gender women studies, speaking at the event decried that government has lots of policies that ought to improve the lots of women economically, but the impact is not being felt. She added that these policies do not have specific targets for women which gives room for exclusion. According to her, there are still lots of gaps in the empowerment of women across the country. “If you read through government policies, you will not see specific issues targeted at women or people with disability. Most of these policies are just blankets and that gives room for a lot of exclusion. “In the past, there are no group monitoring these things, you can have pockets of civil societies that are not coordinated, but, we are bringing in a collective of all women organisations who are into business, entrepreneurship at the national and state level to ensure that government is actually doing what they said they are doing”, she said. Read also: ActionAid gets £1.3m grant to mobilise youths, women for governance Dayil said the TWG is working with the ministry of budget and planning to track the percentage of women that have benefitted in all economic policies and projects from CBN and many other organisations. She also informed that the TWG will monitor how many women are benefitting in terms of number and if the projects meet the desired impact. The Director-General of the National Institute for Policy and Strategic Studies, Brigadier CJ Udaya, represented by Nasirdeen Usman, disclosed that the TWG is to support the accountability process of the piloting of the application of the Monitoring & Evaluation framework on WEE programs in Nigeria. According to him, NIPSS is partnering with the Budget Office and the Development Research and Projects Centre to support the accountability component of the development and implementation of the pilot M&E framework to track and rate women’s economic empowerment project/policies/interventions at the national and sub-national level. He also described WEE as a strong policy of the federal government that must be translated into action by the TWG. Nasirdeeen added that the TWG would also support NIPSS, FMFBNP & dRPC WEE outreach and engagement activities; submit reports of its activities to NIPSS, FMFBNP & dRPC WEE at regular intervals; and carry out other ad hoc duties as requested by NIPSS, FMFBNP & the dRPC. While urging the 20 committee members drawn from the Federal Ministry of Budget, Agriculture, CBN, and other MDAs, to work hard to promote transparency in the implementation of women’s economic empowerment in the country, Nasirdeen said the nation stands to solve its economic challenges when women’s economic empowerment are given the required attention. ‘With 44.82 percent of the labour force in Nigeria, empowering this segment of our population is not the only key to achieving economic independence, but it is also critical in sustaining the nation’s overall economic development’ he said In his remarks at the occasion, the director monitoring and evaluation, Federal Ministry of Budget and National Planning, Zakari Lawal, while stressing the need to strengthen monitoring and evaluation of women’s economy in the country, he said the federal government is determined to set in mechanisms to promote transparency in the allocation and implementation of policies in the country. The event was funded by the Bill and Melinda Gates Foundation, under the Partnership for Advancing Women’s Economic Development, PAWED.

AIG invites applications for 6th round of scholarships

The Africa Initiative for Governance (AIG), a subsidiary of the Aig-Imoukhuede Foundation, invites applications for its sixth round of AIG scholarships. The scholarships offer an exciting opportunity to exceptional Nigerians currently working in the Federal and State civil services to attend the University of Oxford for one year and undertake a Masters in Public Policy degree. The AIG Scholarships were launched in 2017 and since then, 27 scholarships worth over £50,000 each have been awarded to an outstanding group of young people in Nigeria and Ghana who possess the capacity to effect positive change. Upon completing their degrees, AIG Scholars return to their home countries and use their learning to contribute to the development of their nations. Read also: Five Africans get AIG scholarships Ofovwe Aig-Imoukhuede, the executive vice-chair of the Aig-Imoukhuede Foundation said they are committed to supporting capacity-building opportunities for the civil service workforce. “We want to see aspiring leaders take advantage of this opportunity to help transform public service delivery and in so doing, improve the lives of Nigerians. Applicants can expect to undergo a rigorous selection process that ensures that only the best of the best candidates are selected,” Ofovwe Aig-Imoukhuede said. Successful candidates can look forward to spending the year at one of the world’s top universities, acquiring knowledge and skills from the outstanding academic faculty and expert practitioners, and interacting with other public sector leaders from around the world. The scholarships are delivered under a partnership between the Aig-Imoukhuede Foundation and the Blavatnik School of Government, University of Oxford, and are wholly funded by the Aigboje Aig-Imoukhuede Foundation. Applications are welcome from Nigerian civil servants aged 25 to 50 with solid intellectual capacity, demonstrable leadership qualities, and a passion for restoring excellence in the Nigerian civil service. Information on full eligibility criteria and how to apply are available on the AIG website www.aigafrica.org. The application window closes on October 10, 2021.

Backers of Trump’s false fraud claims seek to control next U.S. elections

One leading candidate seeking to become Georgia’s chief elections official, Republican Jody Hice, is a Congressman who voted to overturn Democrat Joe Biden’s 2020 presidential win in the hours after the Jan. 6 riots at the U.S. Capitol. Hice had posted on social media earlier that day: “This is our 1776 moment,” referencing the American […]

Fobi Data Exchange Launches With First Partner, In-Touch Group, A Leading UK Platform Managing Data From 6,000 Independent Convenience Stores In-Touch group will optimize...

VANCOUVER, British Columbia, Sept. 22, 2021 (GLOBE NEWSWIRE) — Fobi AI Inc. (FOBI: TSXV FOBIF: OTCQB) (the “Company” or “FOBI”), a global leader in providing real-time data analytics through artificial intelligence to drive operational efficiencies and profitability, is pleased to announce the launch of the Fobi Data Exchange (“FDX”) with its first data monetization agreement and […]

How the Child Care Crisis Became a Global Economic Fiasco

(Bloomberg) — The numbers are crushing: By the end of April last year, less than half of the women in Brazil were employed, the lowest level in 30 years. In Australia, around the same time, nearly a tenth of women exited the workforce, while in Japan, women lost jobs at nearly twice the rate of […]

Evergrande and Crypto: Just How Intertwined Are They?

Just when you thought another Chinese economic hysteria couldn’t unfold, it just did.Unfortunately, crypto markets are not immune to economic uncertainty, and Bitcoin’s volatility...

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