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Tag: Osinbajo

  • Osinbajo flags Trader Money off in Warri, explains criteria

    Vice President Yemi Osinbajo on Friday flagged off the federal government social investment programme, ‘the Trader Money Scheme’ for Delta state in Warri.

    Professor Osinbajo, who was a guest of the Olu of Warri, Ogiame Ikenwoli, in his palace, before proceeding to the Warri Main Market in Warri South council area of the state, where the flag-off took place, also explained that the scheme is targeted as petty traders who do not need too much to get their businesses running.

    Osinbajo said the federal government also had the “Money Market Scheme” for the senior traders.

    According to him, government had studied and discovered that the largest number of people within the commercial sector are petty traders, adding that their capital needs are usually meager, which the federal government, through the Trader Money, had decided to prove at repayable, interest-free loans.

    “The Trader Money Scheme will be targeting two million traders with a view to supporting their businesses as well as reducing poverty and empowering them. Today, am here to Flagg off what we know as the trader money scheme. The trader money scheme is one of those schemes that was initiated by President Muhammadu Buhari.

    “The President then decided following an experience he had with the Katsina foundation which he was chairman of that, it is better to give these petty traders some money as a loan, ten thousand naira, when they pay back the ten thousand, we give them fifteen thousand naira, when they pay back the fifteen thousand naira, we give them twenty thousand naira and we keep increasing all the way up to hundred thousand naira so long as they pay back.

    “We looked at the whole commercial scale of Nigeria and observed that the largest number of people engaged in commerce are the petty traders that required little start-up capital between N2,000 and N5,000. We then felt it will be better to give these traders N10,000 as loans to be paid back. Once that is done, we give them N15,000 each and keep increasing it so long they pay back.

    “The scheme is designed to elevate those people at the lower ladder. I strongly believed that this is the right thing for our people, a way of empowering them. The enumerators will be here till January 2019 to ensure that the petty traders are captured,” he said.

    Speaking further, the vice president also explained how the bigger commercial intervention programme; ‘the Money Market Scheme’ works, saying traders in this category would be given between N100,000 and N350,000 adding that the beneficiaries would be guided to ensure they achieved their objectives.

    Earlier, the vice president said the federal government had embarked on different developmental projects in Delta with a view to boosting the economy of the state and indeed Nigeria.

    “We have been able to fulfil some of those promises we made particularly the Maritime University, though there are still issues to be resolved but we have established it. We have established one modular refinery and other three are on the pipeline.

    “The dredging of the Escravos bar which will open up the Warri port and it will be a big boost to the state particularly the young men and women looking for opportunities. Also, the Export Processing Zone (EPZ) is being executed by the Niger Delta Development Commission (NDDC), all these project will enhance the economy of the Itsekiri kingdom,” he said.

    Responding, Mr Dickson Kpori who spoke on behalf of the monarch urged the federal government to ensure that the scheme succeeds in Warri.

  • Osinbajo presides over FEC

    Vice President Yemi Osinbajo yesterday presided over brief Federal Executive Council (FEC) meeting, which lasted about one hour thirty minutes.

    The brief FEC started about 10.03am when the Vice president arrived at the Council Chamber, Presidential Villa, Abuja.

    The opening Christian prayer was said by the Minister of Industry, Trade and Investment, Okechukwu Enelemah. The Muslim prayer was offered by the Minister of the Federal Capital Territory, Mohammed Bello.

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    At the end of the meeting, the ministers and other cabinet members immediately proceeded to the National Assembly to accompany President Muhammadu Buhari for the presentation of the 2019 Appropriation Bill.

    Before proceeding to the National Assembly, the Minister of Information, Lai Mohammed, said there would be no post-FEC media briefing.

  • VP, ex-PDP Chair Muazu meet at Aso Villa

    Former People’s Democratic Party (PDP) National Chairman Adamu Muazu yesterday met with the Vice President Yemi Osinbajo.

    The meeting, which was held at the Vice President’s office, lasted for about one hour.

    At the end of the meeting, he declined to speak with to State House correspondents on the purpose of his visit to the Villa.

    It was, however, gathered that the visit was to thank the Vice President, who attended the former PDP’s daughter wedding recently.

  • Osinbajo to attend Africa, Europe Heads of Govt meeting in Australia

    Vice President Yemi Osinbajo will participate in the Africa-Europe High Level Forum with other African and European Heads of States and Government in Vienna, Austria.

    Vice President’s spokesman Laolu Akande, in a statement on Monday in Abuja, said the forum was hosted by the Austrian government on behalf of the European Union (EU) and the African Union (AU).

    Osinbajo would be speaking on the theme of the forum, ‘Taking Cooperation to the Digital Age’ holding from Dec. 17 to Dec. 18.

    According to the organisers in the EU and AU, the forum would promote innovation and digitalisation as important enablers of future development, so that everyone can benefit from the ongoing digital transformation.

    It would assess how the partnerships between Africa and Europe contribute to this goal and complement the ongoing implementation of the joint declaration of the 2017 Abidjan Summit between the AU and the EU.

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    The declaration among other things highlighted the importance of unlocking the potential of the digital economy for Africa and Europe.

    It also aimed at contributing to the Africa-Europe Alliance for Sustainable Investment and Jobs.

    In Vienna, Osinbajo would hold a town-hall meeting with the Nigerian community in Austria; and also attend several bilateral meetings with European government leaders.

    Some of the European government leaders are the Prime Minister of Czech Republic, Andrej Babis; Prime Minister of Finland, Juha Sipilä; the Federal Chancellor of Austria, Sebastian Kurz; and the UK Minister for Africa, Harriet Baldwin.

    Osinbajo would also meet with top officials of the Bill and Melinda Gates Foundation.

  • Osinbajo, Obi trade tackles at VP debate

    In measured tones, All Progressives Congress’ Yemi Osinbajo and Peoples Democratic Party’s Peter Obi tactically turned the vice presidential debate held in Abuja yesterday into a sparring match as they expressed their knowledge of the economy and other national issues.

    During the debate organised by the Nigeria Elections Debate Group (NEDG) and the Broadcasting Organisation of Nigeria (BON), Osinbajo utilised his hands-on knowledge and involvement in running the nation’s economy to project a capacity for effective leadership while Obi made generous use of facts and figures.

    The three other Vice presidential candidates at the debate – Young Progressives Party’s Hajia Umma Getso, Alliance for New Nigeria’s Hajia Khadijah Abdullahi-Iya  and Ganiyu Galadima of Allied Congress Party of Nigeria – all strove to communicate their readiness for the responsibilities of a vice president.

    However, during the live television debate, skewed audience cheered and jeered, eliciting threats by the organisers to sanction errant members of the audience.

    The five vice presidential candidates all managed to project the preparedness of their political parties and presidential candidates.

    During the largely economy-focused debate, the five participants proffered solutions for the various social and economic problems bedeviling the nation with one of the high points being the exchange of barbs between Osinbajo and Obi on the issue of petroleum subsidy.

    While Young Progressives Party’s Hajia Umma Getso pointedly noted widespread perception that petroleum subsidy is “a scam”, Osinbajo noted that even advanced economies sustain some forms of subsidy for logical reasons.

    According to Osinbajo, without subsidy, the price of petroleum could go as high as N220, adding that the prevalent fraud in Nigeria’s fuel subsidy system has been effectively curbed as the Nigeria National Petroleum Corporation now procures fuel abroad.

    “Today, the NNPC is the sole importer of petroleum, so it is from the balance sheet of the NNPC that the subsidy is being taken.

    “Now, let me say that if today you are to remove subsidy, petrol price could go as high as N220 per litre or higher.

    “There is no country in the world, not even the wealthiest ones, that don’t run some type of subsidy or the other,” Osinbajo stated.

    In his own response, PDP Vice presidential candidate, Peter Obi alleged that the APC administration’s pattern of fighting corruption has cost the nation jobs and economic progress.

    “It is not that you cannot fight corruption, but you can fight it more aggressively while addressing economic issues. For example, in 2015, unemployment was 24 per cent, today, it is 40 per cent.

    “In 2015, we attracted $21bn in Foreign Direct Investment but we attracted only $12bn last year; our GDP was $500bn in 2015 while per capita was $2,500 today it is under $1,900.

    “If you look at our stock market, we have lost over N2tn in one year, so that is not a policy. You’re just fighting corruption, you are not creating jobs.

    “You cannot shut down your shop and be chasing criminals,” he said, eliciting Osinbajo’s response that “if the assault by thieves continues, there may be no shop to look after.”

    Earlier, Obi had criticised the Buhari/Osinbajo administration over petroleum subsidy, waving it off as a subsidization of inefficiency that should be done away with.

    “Why are you actually subsiding? Nigeria has one of the lowest car ownerships in the world; it is 10  per 1,000. So, we have only two million vehicles and you’re paying almost a trillion when you have 87 million people that are poor,” he said.

    As the debate progressed, Nigerians keenly followed online, with some identifying lies and mix-ups in the candidates’ presentations.

    For instance, on Twitter, an activist, Sega L’éveilleur, using the handle @segalink, faulted Osinbajo’s statement that “major cause of poverty is corruption”, noting that while corruption also exists in developed countries, Nigeria is far behind in productivity.

    Another twitter user using the handle @Ayourb criticised PDP’s Peter Obi for lying.

    “Why is Peter Obi a compulsive liar? He just said there are two million vehicles in Nigeria. But according to the NBS (National Bureau of Statistics) data, there are 11 million vehicles in Nigeria,” he stated.

  • Stop blame game, focus on development, Osinbajo tells governors 

    Vice President Yemi Osinbajo yesterday urged state governors and other stakeholders in the country to stop the blame game and focus on human capital development in their respective areas.

    He made the call during the launching of Human Capital Development Programme: Healthy, Educated and Productive Nigerians for a Globally Competitive Nation by 2030 at the extended National Economic Council (NEC) meeting held at the Banquet Hall, Presidential Villa, Abuja.

    Advising them to resist playing politics with issues, he said that it was time to get the job done.

    The Vision 2030 focuses on the Human Capital Development and is hinged on three main thematic areas; namely health and nutrition, education and labour force participation.

    Osinbajo said: “As a government, we are fully aware of the issues and we are committed to transforming them. There is no denying that debilitating levels of poverty existed in spite of huge earnings in the past. We are doing exactly what countries like India and Brazil did in a similar situation, for instance kick-starting the Social Investment Programme (SIP).

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    “The Federal Government must together with states collaborate on the issue of human capital development; it should not be a platform for blame games. Concerted collaboration is required now so we don’t repeat the mistakes of the past. Constant communication with the people is equally important because the resources belong to them,” he stated.

    He stressed the need to promote transparency, accountability and improving existing data.

    In his remarks, Chairman of the Nigeria Governors’ Forum, NGF, Alhaji Abdulaziz Yari, said governors had been working very hard to make Nigeria’s economy work in a more transparent manner and remain accountable to the people, adding “we have tried to make sure that every cent is spent.”

    Yari, who is the governor of Zamfara State, stated that the concern raised on human capital development can only be addressed with availability of funds.

    He said: “I can assure you that the governors are committed, but we have to work harder in the area of revenue generation to address all these competing demands.”

    He queried the fact that the VAT has remained stagnant at 5 per cent for the past 25 years, insisting that a political decision has to be taken to increase it in the new year.

    The World Bank Nigeria Country Director, Rachid Benmessaoud, said for the world to do well on human capital development, Nigeria has to do well because the world relies on Nigeria’s human capital.

    He stressed that the quality of education improves young person’s opportunity to earn a living and help the economy, urging the government to work on improving human capital development.

    The Country Director, DFID, Debbie Palmer, said Nigeria is ranked near the bottom of the World Bank’s Human Capital Index (152 out of 157 countries globally), describing it as a rude wake-up call for everyone in Nigeria and for everyone who cares about Nigeria.

    USAID Country Director said the US government will continue to honour the partnership in the areas of education and health as well as with the private sector.

    Ms. Zouera Youssoufou, Managing Director and CEO of the Dangote Foundation, commended the government for its commitment to see to the improvement in human capital development.

    The National President, Association of National Accountants of Nigeria (ANAN), Alhaji Shehu Ladan, in his presentation, listed quality education, special agencies for skills, entrepreneurial support, vocational training, improved infrastructure and improved health care sector  as factors that will improve the country’s human capital development.

  • Osinbajo unveils vision to accelerate human capital development

    Vice President Yemi Osinbajo on Friday unveiled Nigeria’s vision to accelerate human capital development by the year 2030.

    He made the presentation during the extended National Economic Council (NEC) meeting at the old Banquet Hall of the State House, Abuja.

    Noting that 112 million Nigerians were living in extreme poverty in 2012, he said that the Buhari government introduced the Social Investment Programmes (SIP) to change the story.

    He said that the Buhari’s administration is now on the right path and everything must be done to stick to the path.

    He said: “About nine months ago we convened a similar gathering here at the State House, along with some of our most supportive partners and philanthropists, to discuss this very vital issue of Human Capital Development.

    “The debate that followed made it very clear to all that this issue is perhaps the most important in our country today. What can be more important than the well being of the people we serv.

    “As a government we are fully aware of this, and are committed to ensuring that we positively transform the Nigerian experience as it relates to the quality of life and wellbeing of our people.

    “There is no gainsaying the fact that Nigeria has struggled with debilitating levels of poverty for several decades, in spite of our huge potential. Indeed the result of last poverty study done by the NBS in 2012 showed that 112 million Nigerians were living in extreme poverty.

    “When we came into office in 2015, three things were very clear: one, that we needed to move quickly and ambitiously in our response to the issues of poverty and malnutrition and disease and illiteracy.

    “Two, there would be no quick fixes or miracles cures. It would be a long and painful journey out of the status quo. And we would need to be patient and consistent in the implementation of our interventions.

    “Three: just as we are reaping in the present the consequences of the poor decisions we have taken in the past, we can change the consequences that await us in the future by changing the decisions we take is in the present.

    “These realisations have guided us over the last three years, even as we have developed a vision for a Nigeria that is healthy, educated and positioned to fully unleash its development potential.

    “This is what informed the creation and implementation of our Social Investment Programme, which is now the largest in Africa; a multi-faceted intervention simultaneously targeting poverty, hunger, unemployment, financial exclusion, and the absence of skills needed for our large youth population to thrive in the 21st century.” he

    He also disclosed that every country that has taken significant numbers of its population has had to put in place a robust Social Investment Policy.

    “India which had the largest number of poor people in absolute terms did exactly what we are doing….microcredit, government jobs programme, school feeding, cash transfers etc,

    “Since that March meeting, the Social Investment Programme has seen a significant expansion. We have added more than 2 million children to our School Feeding Programme, we now have in excess of 9 million school children being fed daily across 26 States.

    “N-Power, our Jobs Scheme for unemployed graduates has more than doubled since then, to cater to 500,000 beneficiaries. And our Trader Moni Microcredit scheme for petty traders excluded from formal lending opportunities has now benefited well over a million people. Market MONI which started earlier had benefitted
    In terms of healthcare, we have recorded a landmark accomplishment: the setting up of the Basic Healthcare Provision Fund, with seed funding of 1 percent of our Consolidated Revenue Fund, as outlined in the National Health Act.

    “I am pleased to say that Nigeria is for the first time complying with these stipulations since the Act was signed into law in 2014. The Vision to accelerate Human Capital Development by 2030 has the….All of what I have listed above are efforts and input.

    “Ultimately it is the outcomes that are most important. We must be able to show that all of what we are doing and investing is producing tangible results in the quality of lives of our citizens.

    “The end goal is a country, where it is not a miracle for infants to live to and beyond the age of 5, where our children are in no danger of malnutrition, where every child is guaranteed access to quality basic education, where a basic minimum package of healthcare benefits is guaranteed to every citizen and no one is shut out because of the cost,
    Nigerians everywhere deserve to live healthy, educated and productive lives, regardless of where in Nigeria they live or what God they worship or what language they speak.”

    By the nature of Nigerian constitutional arrangements, he said that the Federal government must work with State governments and the State governments must work with each other on the issue.

    He added “The only way to succeed is by recognizing that this is a joint and several responsibility. This is not and should never be a platform for blame-games and buck-passing.

    “These have not worked in the past, and will not work now. Nothing short of concerted collaboration is required from all of us, across all tiers of government and with the partnership and support of the private sector, traditional and religious and community leaders, and the international community.

    “There is much learning to be shared and exchanged, to ensure that we are not repeating mistakes that have already been made, and to ensure that we are allocating resources in maximally efficient ways.

    “Very importantly, there is the work of communicating, of carrying Nigerians along, making the vision clear and simple to them, and transparently showing how the resources – which belong to them – are being deployed to work for their benefit.

    “We must never underestimate the importance of communicating and ensuring that we get the buy-in of the citizens on behalf of whom we are holding public office.

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    “Last but not the least is the importance of collecting credible data to support our programmes and policies and to accurately measure their impact. What cannot be measured, it has been said, cannot be managed. The wisdom of this truism should always stay with us.

    “We must find ways of improving the quality of the data we collect, and the timeliness. And we must resist the temptation to play politics with these statistics, or be overly defensive when they don’t cast us in very good light.

    “The lesson is to listen to what the data is telling us, and to vigorously look for ways to respond robustly with policy interventions.

    “I have no doubt that we are on the right path. But we must stick to this path. We cannot afford anything that will slow us down or take us away from these commitments that we have started implementing.

    “We owe it to all the people of Nigeria, young and old, male and female, especially the poorest and most vulnerable amongst us, to improve the quality of lives they lead, and the quality of healthcare, education and jobs accessible to them.

    “It is now my special, pleasure to present Nigeria’s Vision to Accelerate Human Capital Development by 2030.” he said.

  • Osinbajo to open Wells Carlton Hotel

    All roads lead to the Federal Capital Territory (FCT) this weekend where Vice President Yemi Osinbajo is expected to unveil The Wells Carlton Hotel and Luxury Apartments.

    According to the management of the five-star luxury hotel located at the plush Asokoro district of Abuja,     customers will be offered “the grand experience of luxury”.

    A tour of the Wells Carlton Hotel and Luxury Apartments reveals a flamboyant display of pleasure with the sprawling facility featuring  wave of sophistication, style and glamour that would leave anyone breathless with longing.

    From walkways filled with iconic works of art, building fixtures of unparalleled craftsmanship, architectural finishings of aesthetic perfection, and a modern style that is second to none, the Wells Carlton Hotel and luxury apartments is an experience guaranteed to leave guests in the throes of lasting impression.

    The Wells Carlton Hotel and Luxury Apartments features 55 rooms and deluxe suites, as well as a conference center (and meeting rooms) which are perfect for private meetings and corporate events.

    The epitome of sheer luxury boasts an amazing roof-top terrace that offers an attractive view of the FCT, allowing guests an elevated experience and a secluded ambience of serenity.

    It also offers exotic bars and four world-class restaurants which serve both continental and local cuisines. In addition, the Wells Carlton Hotel and Luxury Apartments provide a world-class gym and enchanting state-of-the-art swimming pools. Among numerous other hospitality services and premium offerings, the Wells Carlton Hotel and Luxury Apartments offers guests the convenience of an international gift shop. The hotel spa, named Tirta Ayu, is an exotic haven where guests are treated to Japanese and Indonesian spa experiences: a blend of ancient therapeutic remedies and modern-day spa rituals for healthy living and well-being. It’s certainly an out-of-this-world experience.

    Wells Carlton Hotel and Luxury Apartments Chairman, Captain  Idahosa Wells Okunbo spent a fortune in creating this world-class hotel for those who demand only the  best.

    “This is a brand to which I have attached my name. It has taken me nine years to achieve. Not nine years because it couldn’t have been ready sooner; but nine years because, for me, only the word perfect will do! This brand stands for my character of tenacity, perfection, integrity and excellence,” Okunbo said.

     

  • Osinbajo, Gowon, Adeboye in Abuja for Christmas Praise Concert

    VICE PRESIDENT Yemi Osinbajo hosted yesterday the 2018 Christmas Praise Concert at the old Banquet Hall of the State House in Abuja.

    Dignitaries at the concert included the former Head of State, Gen. Yakubu Gowon.

    The General Overseer of the Redeemed Christian Church of God (RCCG) Worldwide, Pastor Enoch Adejare Adeboye delivered the Christmas message at the concert.

    He centred his message on John chapter 14, verse 6 “Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.”

    According to him, Jesus Christ is the way into freedom, Jesus Christ is the way out of problems, Jesus Christ is the way forward, Jesus Christ is the way upward, and Jesus Christ is the way where there is no way.

    He cited John 8:32, John 8:36, Mark 5: 1-15, Luke 7: 11-15, Luke 5: 1-7, John 12: 32, John 11:39-44.

    The cleric also prayed for better 2019 and peaceful elections in 2019.

    Lesson 4 was taken from Luke 2:1-7 by the Secretary to the Government of the Federation (SGF) Boss Mustapha.

    State House Chaplain Pastor Joseph Malomo led prayers for the leaders of the country, peace and no blood shed in the country during the festive season, and prayers for 2019

    The concert featured Aso Villa Chapel Children Choir, Hallelujah Nigeria Non-Stop Praise Team, The Praise Chorale Lagos, Plateau State Unity Choir, Blessing Ilagha and D-Boys, Gloria Braimah and Solomon Lange, Pastor Kunle Ajayi.

    It was attended by the Vice President’s wife, Dolapo, governor Gboyega Oyetola (Osun), Simon Lalong (Plateau), Akinwunmi Ambode (Lagos), Udom Emmanuel (Akwa Ibom), Godwin Obaseki (Edo) and Kayode Fayemi (Ekiti) as well as members of the diplomatic corps.

  • Compulsory health insurance scheme coming, says Osinbajo

    PROPOSAL and plan for establishment of a Compulsory Health Insurance Scheme is in the works as part of the Buhari presidency’s Next Level agenda, Vice President Yemi Osinbajo said yesterday

    According to the plan, the government will pay the premium for the poor.

    Osinbajo spoke on Tuesday night as guest of honour at the Invest Africa Forum hosted by the publishers of Africa Report magazine at London’s Royal Society hall.

    Osinbajo, in a statement by his Senior Special Assistant on Media and Publicity, Laolu Akande, said: “On healthcare, to cut the long story short, where we are going is the National Health Insurance. At the moment, we have National Health Insurance, which is not compulsory.

    “So, we are looking at compulsory National Health Insurance and we are also looking at how to pay the premium, especially for the poorest.”

    The vice president, who took questions from the publishers of Africa Report and members of the audience, explained that the plan is to “have a co-payment arrangement”.

    Osinbajo said: “Government will provide payments of premium or free medical care for 40 per cent, which is the poorest segment, and the other 60 per cent will be compulsory co-payments for formal and informal workers.

    “The resources, the money from the National Health Insurance, is the way to fund medical care. At the moment, most people who seek medical help pay out of pockets. Obviously, that’s one of the reasons why we have the poor health indices at the moment.

    “So, we think that health insurance will resource healthcare and help greatly, in not just rewarding our healthcare practitioners, but also in resourcing the hospitals and helping most of our people to get the kind of health care that they may need.”

    Responding to a question from a member of the audience on the prospects of the Petroleum Industry Bill, the vice president said it could still be signed into law, after all the necessary amendments have been made, possibly before the end of the 8th Assembly.

    “We hope that the bill will become law before the end of the 8th Assembly,” Osinbajo said.

    Answering another question from the moderator of the forum, Mr. Patrick Smith, who is the Editor-in-Chief of The Africa Report, on the chances of the APC winning the forthcoming 2019 elections, Osinbajo said in the 16 years of the PDP rule, the party had nothing tangible to show Nigerians despite earning over $382 billion in oil revenue between 2010 to 2014.

    “The PDP has not cured itself of corruption,” he said.

    He urged Nigerians to ignore the party in the coming elections.

    Osinbajo then urged the Nigerian electorate not to listen to the party in the 2019 election because they have nothing to offer them.

    The vice president noted that since returning to power in 2015, “the All Progressives Congress (APC)-led government has invested over N2.7trillion on infrastructural growth, at a time the country was earning less.

    On the privatisation of some of the public enterprises, the vice president observed that the exercise, especially in the electricity power sector, was “poorly done” under the PDP previous governments.

    He referred to a trending video of a 2014 interview where the PDP presidential candidate actually confessed to the failure of the past PDP presidencies in the power sector.