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We’ll focus, invest on the blue economy – Badaru



We’ll focus, invest on the blue economy – Badaru

The Minister of Defence, Alhaji Mohammed Badaru, said on Wednesday that the Federal Government was focused on investing in the modernisation of military equipment to guarantee the safety of citizens and foreigners.

Badaru said this in a statement issued by Mrs Victoria Agba-Attah, Director, Press and Public Relations, Ministry of Defence, in his goodwill message at the Nigerian Bar Association Annual General Conference 2023.

The conference had as its theme: “Crafting a Strategic Blueprint for Security and Prosperity”.

He said while investing in the modernisation of military equipment, the government would also pay attention to the blue economy, the unmanned spaces and climate change.

Badaru who was represented by the Permanent Secretary in the ministry, Dr Ibrahim Kana, said that the Nigerian Government through the ministry had invested a lot in providing equipment and platforms to address piracy.

He added that the International Maritime Bureau had declared that Nigeria had recorded less than two to five cases in the gulf of guinea.

According to him, the Ministry of Defence and the Armed Forces of Nigeria are responsible for maintaining peace and stability, not just within the black water and the brown water, but deep down into the blue water.

“Indeed the government is redoubling its efforts by providing more platforms like ‘Falcon Eye’ as well as the deep blue project.

“Government has invested huge resources on these projects to address insecurity in not just the Niger Delta but the entire coastal areas of Nigeria,” he said.

Badaru also said that the Nigerian Navy had been active in fighting piracy which had affected the economy of the country, particularly in the maritime area.

He further said that unmanned spaces had significant impact on both the security and economy of the country.

He added that the country would invest in the unmaned spaces through agriculture in order to reduce insecurity in the country.

On Defence and innovation, the minister said that the focus of the National Defence Policy was on modernisation of the Armed Forces.

He noted that the country was developing her local Military Industrial Complex which would ensure innovation and employment as well as fight insecurity.

“With the deployment of modernised military equipment, we will begin to say goodbye to insecurity in Nigeria”, he said.

The News Agency of Nigeria (NAN) reports that the Minister of Budget and Economic Planning, Alhaji Abubakar Bagudu and Chief of Defence Staff, Gen. Christopher Musa, represented by Rear Admiral M.K Onubebe were in attendance.

Others in attendance were the Chief of Army Staff, Lt.-Gen. Taoreed Lagbaja, represented by Maj.-Gen. Jimmy Akpor who is the Chief of Administration, Army and the Acting Inspector General of Police, Kayode Egbetokun, represented by Deputy Inspector General of Police, Frank Mba.

His Royal Highness Emir of Gumi, Justice Lawan Gummi; Chief Adetunji Adeleye, Commander, Ondo State Security Network (Amotekun) were also among other dignitaries present at the event.



I Still Get Attacked By People – Yakubu Aiyegbeni Reveals



In a recent interview, former Nigerian football star Yakubu Aiyegbeni has revealed that he continues to receive messages and criticisms from fans, years after his infamous miss during the 2010 FIFA World Cup match against South Korea.

The moment, etched into football history, occurred during Nigeria’s crucial group stage game against South Korea. With the score tied at 2-2 and a spot in the knockout stages on the line, Aiyegbeni found himself with what seemed like an open goal opportunity. However, to the shock of fans worldwide, he missed the chance, leaving Nigeria unable to secure the much-needed victory.

Despite this moment happening over a decade ago, Aiyegbeni expressed his surprise at the ongoing messages he receives about the miss. “I still get messages from people, different messages,” he stated in the interview. “It’s surprising how that moment still sticks with people, even after all these years.”

The striker, who had a successful career playing for clubs like Everton and Portsmouth in the English Premier League, admitted that the miss was a tough moment in his career. “Of course, it was a big moment, and I wish it had gone differently. But in football, you have highs and lows,” he remarked.

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Job Losses, Factory Closures Loom As Unsold Goods Pile Up — MAN



AGAINST the backdrop of sustained pressure in the foreign exchange market and high cost of production, the Manufacturers Association of Nigeria, MAN has indicated that inventory of unsold goods is escalating to levels now threatening the existence of companies operating in the production sector of the economy with attendant job losses.

Findings show that as of the weekend the foreign exchange market had recorded over 254 per cent plunge in the value of the naira since flotation of the currency by the Central Bank of Nigeria (CBN) in June 2023.

Recall that the naira traded for N471 per dollar in the official I&E market on June 13, 2023 before the floatation of the currency, but exchanged for N1,665.50 to a dollar as at February 23, 2024 on the Nigerian Foreign Exchange Market (NAFEM), indicating a depreciation of more than 253.6 per cent over the eight-month period. The forex crisis is also stoking inflation, and coupled with high energy costs, purchasing power has continued plummet, stifling demand for goods.

Speaking on the impact of this development on the manufacturing sector, Director General, MAN, Segun Ajayi-Kadir, said: “There are reports that across the board, many warehouses and plants of many manufacturing firms are stockpiled with unsold goods manufactured last year. “The development is as a result of the devastating effects of the exchange rate crisis, inflation, fake and sub-standard goods, smuggling and other macro-economics challenges.”

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