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“Nigeria Could Face Economic Collapse Without Reforms” – Bayo Onanuga

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Bayo Onanuga, the Special Adviser to President Bola Tinubu on Information and Strategy, recently addressed concerns regarding Nigeria’s economic situation, suggesting that without the current reforms, the country’s economy could have faced dire consequences similar to those of Somalia.

Onanuga spoke on Thursday, responding to widespread public dissatisfaction regarding the economic challenges brought on by certain policies implemented by the Tinubu administration.

He emphasized that while many Nigerians are understandably impatient for immediate results from these reforms, it’s essential to recognize the necessity of these changes for the long-term success of the economy.

Onanuga acknowledged the current weaknesses in Nigeria’s economy, but he expressed optimism that the ongoing reforms would create a path toward a more productive and sustainable economy.

In his remarks, he reflected on the historical context by mentioning reports from Vision 2010 and Vision 2020, initiatives aimed at boosting Nigeria’s economic potential.

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These reports underscored the longstanding issues of inefficiency and weakness within the country’s economy.

Onanuga pointed out that if the government did not take decisive action, Nigeria could find itself facing a situation close to that of Somalia’s economic struggles.

He explained that the government has traditionally reduced consumption, leading to a culture of dependency rather than productivity.

He argued that the reforms are aimed at shifting this issue, encouraging a more productive economic model that can better serve the needs of the people of Nigeria.


 

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FG Extends NYSC Orientation Camp From 3 to 6 Weeks

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The Federal Government has announced an extension of the NYSC programme. It can be noted that the NYSC camp orientation is usually for three weeks before the youths go out to gain experience, employment, and serve the country for one year.

However, the FG announced that the passing-out parade from camp will be cancelled, and corps members will now spend six weeks in camp instead of three weeks.

“The first two weeks speak to laying a foundation on civic responsibility. The next two weeks will look at career mapping, basic accounting literacy skills, business planning and access to finance. The final two weeks, we intend to have focused corps-stream-specific training aligned with the corps member’s designated stream based on his choice, academic background and skills profile.”


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Is Lagos Sinking? Residents Raise Concerns as Flooding Worsens

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With the rainy season in Nigeria, many are wondering if the increase in flooding has now become the new normal. Lots of videos, clips, and complaints have literally flooded online, showing how badly roads, homes, and other places have been affected.

We were used to hearing about the rise of water on the Island since it is literally surrounded by water, but now floods are being spotted on the Mainland as well.

We may not know exactly why this is happening, but one thing is certain—we urgently need a lasting solution.


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Federal Government Clarifies Position on Proposed Tax Recommendations

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The federal government reacted to claims stating that the new tax rules will be imposed on telecommunications and petroleum products for Nigerians.

The FG released a statement to explain the process and stated that there is no intention to place taxes on telecom and petroleum products and services.

“Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”


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