FG to investigate N-Power consultants, plans creation of 5 million Jobs
The Nigerian Federal Government has provided additional reasons for suspending the N-Power programme, which has left over one million beneficiaries without jobs.
The National Programme Manager, Akindele Egbuwalo, revealed that the scheme had ghost beneficiaries and some consultants withholding participants’ funds.
He expressed concern about consultants holding onto funds even after their contracts ended in March 2023.
The government condemns this and is working to identify those involved and ensure owed payments are made.
The suspension aims to address these issues and restore confidence in the programme.
It will also lead to the expansion of the program to include beneficiaries aged 18-40, up from the previous limit of 35.
Pension in N2.4tn deficit before reforms says PenCom DG
The Director-General of the National Pension Commission, Aisha Dahir-Umar, highlighted that Nigeria’s pension reforms began when the nation faced a N2.4 trillion deficit.
This revelation comes from the book ‘Fighting for the Future: Nigeria’s Pension Reform Journey’ by Cable Books.
Despite challenges, the country’s pension industry has made irreversible progress.
The book reveals that from a N2.4trillion deficit in 2004, Nigeria’s accumulated pension assets grew to N15.45trillion by February 2023.
This transformation has significantly contributed to the nation’s economic growth, akin to the telecoms reform’s impact. Dahir-Umar emphasised that Nigeria has the capacity for change, showcasing the success of pension reform.
FG approves contract appointments for retired healthcare workers
The Nigerian Federal Government has approved contract appointments for doctors, nurses, and clinical healthcare workers upon reaching their retirement age or years of service, responding to discussions about the retirement age of healthcare professionals.
A circular dated October 5, 2023, from the Federal Ministry of Health mandates strict compliance with a previous circular rejecting an age increase for healthcare professionals.
It cites reasons such as emigration due to financial and working conditions and dissatisfaction with healthcare workers’ ethics.
The circular also allows retired health workers to return on contract at their previous salary scale level.
The government seeks commitment from medical professionals and improved work ethics.
Oil prices jump more than $4 as Middle East violence rattles markets
Oil prices surged by over $4 per barrel in early Asian trading on Monday due to escalating military clashes between Israeli and Hamas forces, intensifying political uncertainty in the Middle East.
Brent crude increased by 4.94 percent to $88.76 a barrel, while U.S. West Texas Intermediate crude rose by 5.11 percent to $87.02 a barrel.
The spike in prices reversed a recent downward trend driven by concerns about high-interest rates impacting global demand.
The violence could disrupt U.S. efforts to mediate a Saudi-Israeli rapprochement, potentially affecting oil supplies.
Market focus has shifted to the possibility of Iranian involvement in the attacks.
US to send military ships, aircraft closer to Israel
The United States is demonstrating support for Israel in the wake of Hamas’ recent deadly attacks, possibly aimed at disrupting potential normalisation between Israel and Saudi Arabia.
Defence Secretary Lloyd Austin announced the deployment of multiple military ships and aircraft closer to Israel.
This includes the USS Gerald R. Ford Carrier Strike Group and the augmentation of U.S. Air Force ]fighter aircraft squadrons in the region, along with munition supply to Israel.
President Joe Biden assured Israel of additional assistance, emphasising Israel’s right to self-defence.
Protests against U.S. support for Israel erupted in New York and Washington.
Hamas cited escalated Israeli actions as the reason for the attacks, while the U.S. sees a potential connection to Saudi-Israeli normalisation efforts.
U.S. Deputy National Security Adviser Jon Finer urged both countries to continue pursuing normalisation despite the attacks, while U.S. Secretary of State Antony Blinken labelled Hamas’ actions as a terrorist attack and noted ongoing intense fighting in Gaza.
There is no evidence of Iranian involvement in the attacks, but Iran has longstanding ties with Hamas.
