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Tinubu Congratulates Dangote on Appointment to World Bank’s Investment Lab

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President Bola Tinubu has congratulated Africa’s wealthiest man, Alhaji Aliko Dangote, on his appointment to the World Bank’s Private Sector Investment Lab. This is a body focused on driving investment and job creation in emerging economies.

Tinubu praised Dangote’s extensive experience in the private sector. He highlighted his strategic investments and the thousands of jobs created through his conglomerate, Dangote Group. He emphasized that Dangote’s appointment was well-deserved given the group’s rise to prominence, spanning industries like cement, fertilizer, salt, sugar, oil, and gas.

Tinubu also noted that Dangote’s $20 billion Petroleum Refinery and Petrochemicals project is the most ambitious and significant private investment in Africa. He encouraged Dangote to bring his innovative ideas to his new role at the World Bank. Also, he encouraged him to help shape impactful initiatives for emerging markets globally.

Dangote was announced as part of the World Bank’s expanded Private Sector Investment Lab on Wednesday.  Joining other business leaders such as Bill Anderson (CEO of Bayer AG), Sunil Bharti Mittal (Chair of Bharti Enterprises).  Lastly, Mark Hoplamazian (President and CEO of Hyatt Hotels). The expanded lab aims to attract private capital and create jobs in developing economies. In addition, to support the World Bank’s goal of global job creation as a key focus for development.


 

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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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