News
Nigeria Loses $3 Billion Annually to Foreign Ankara Producers, Says Minister Musawa
Hannatu Musawa, Nigeria’s Minister of Art, Culture, and Creative Economy, has revealed that the country loses around $3 billion annually to foreign manufacturers of ankara, a popular wax print.
Speaking at the Creative Africa Nexus Weekend 2024 in Algiers, Musawa highlighted the urgent need to boost local production of fabrics like ankara to preserve Africa’s heritage and reduce reliance on imports.
She emphasized that nearly 90% of ankara consumed in Africa is imported, and called for strengthening local textile industries to reclaim the continent’s fashion narrative.
Musawa also stressed the economic potential of the fashion sector, projecting its growth to $15.5 billion by 2025, and outlined government initiatives to support the industry.
News
South Korea Faces Political and Economic Crisis Over Impeachment
People Power Party (PPP) leader Kweon Seong-dong urged Han to continue leading state affairs despite his impeachment, but Han stated he respects parliament’s decision and awaits the Constitutional Court’s ruling.
Opposition lawmakers accused Han of avoiding an insurrection probe and rejecting judicial appointments, actions they claim violate his duties. Finance Minister Choi Sang-mok, now acting president, warned the impeachment could harm the economy.
The Constitutional Court, operating with six of nine seats filled, will decide the validity of the impeachments.
Meanwhile, the crisis has shaken investor confidence, with the South Korean won hitting a 16-year low, and authorities intensifying investigations into the martial law declaration.
News
Troops Arrest Kidnapper, Boko Haram Suspect, Recover Weapons in Taraba
Troops of 6 Brigade Nigerian Army/Sector 3 Operation Whirl Stroke (OPWS) have arrested a suspected kidnapper and a Boko Haram terrorist in Taraba State, recovering weapons during their operations.
Acting Assistant Director of 6 Brigade Army Public Relations, Captain Olubodunde Oni, revealed in a statement on Friday, December 27, 2024, that Musa Suito, a member of a vigilante group, was arrested for his involvement in the kidnapping of a district head in Jalingo.
Suito allegedly exploited his role to identify potential targets for kidnappers. Items recovered from him included a Dane gun and two cartridges.
In a separate operation, troops arrested a suspected Boko Haram terrorist, Nura Yakubu, in Bali Local Government Area. Yakubu, who worked as a food vendor, was accused of harbouring terrorists and aiding the kidnapping of a businessman, Mr. Arinze.
The army emphasized its commitment to ensuring security in the region and urged the public to remain vigilant and provide credible information to security agencies to combat criminal activities.
News
Bauchi Governor Urges Tinubu to Reconsider Unpopular Economic Policies
The Governor of Bauchi State has called on President Bola Tinubu to revisit current economic policies, arguing that they lack widespread support among Nigerians.
Speaking during a Christmas Day event in Bauchi on December 26, the governor urged the presidency to prioritize the grievances of the masses over pride.
“We are calling on the presidency and the federal government to change their style. Whenever a policy is not popular, they should listen to the people and not assume that whatever they say must stand. This is not a military rule but a democracy,” he said.
He also emphasized the importance of unity across political divides to tackle Nigeria’s economic challenges. “There is a lot of hardship.
We must work together across party lines and government tiers to provide relief for Nigerians. Leadership is not about ego; it’s about listening and making necessary changes,” the governor added.
His comments come amid widespread criticism of President Tinubu’s economic policies, which many claim have worsened the struggles faced by Nigerians.
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