Connect with us


Health minister pledges quality healthcare delivery to Karu residents



Muhammad Pate

The minister of health, Dr. Muhammad Pate, has pledged support for quality healthcare delivery to Karu residents, in Karu Local Government Area (LGA) of Nasarawa State.

The minister gave the pledge at a “Primary Health Care Development Agency (NPHCDA) Tour” to Karu primary health centre on Thursday, in company of the Chief Executive Officer of Gavi, David Marlow.

Pate said the present administration under the leadership of President Bola Tinubu was committed to improving healthcare to Nigerians.

He admonished Karu residents, irrespective of tribe and state, that the duty of ensuring a healthy living was everyone’s business because disease does not know individual.

The minister said that healthcare was a collaborative effort and as such requires everybody’s cooperation to stay healthy.

Also speaking, Marlow thanked the minister for the warmth welcome into Nigeria to see the good work that the organisation was doing in administering vaccines on children.

Gavi is an international organisation created in 2000 to improve access to new and underused vaccines for children living in the world’s poorest countries.
Marlow urged parents not to forget their task as parents.

He advised them to be responsible, support their children by ensuring they stay healthy as they are the future of the country.

“Make them healthy as they need good health to grow and become something in life,” Marlow said.

He pleaded with the minister to support health workers with education and also provide conducive atmosphere to make their work easier.

The Chairman of Karu, James Thomas, thanked the minister and Marlow for seeing Karu as worthy of their unrelenting support.

He also begged the minister for more health facilities, adding that the available ones are being overstretched.

The Esu Karu, Luka Panya, also a medical personnel (Pharmacist), noted that vaccines over the years have helped children.

Panya urged the minister to keep his promises of delivering good and quality healthcare to Nigerians to ensure improvement in the health sector.

Present at the event include Karu traditional rulers, Gavi Managing Director, Thabani Maphosa, NPHCDA top officials from the Federal and Nasarawa State, among others


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.”

Continue Reading


CBN Lifts Ban On BDCs, Introduces New Operational Mechanism



In a major development aimed at financial stability and strengthening the naira, the Central Bank of Nigeria (CBN) plans to resume its weekly intervention in the country’s foreign exchange (FX) market through the Bureau de Change (BDC) operators.

In 2021, the central bank, in a bid to achieve its mandate of safeguarding the value of the local currency, ensuring financial system stability, and shoring up external reserves, announced the immediate discontinuance of foreign currency sales to Bureau de Change (BDC) operators in the country.

However, the resumed intervention, which would reportedly commence today for funding as well as Tuesday for collection, will see the apex bank inject FX into the subsector in a bid to rescue the naira from further depreciation against major currencies, particularly the US Dollar. The collection will be at designated CBN branches in Lagos, Abuja, Kano, and Awka, while details of the naira accounts to be credited for funding bidding will also be made available today.

CBN is also expected to publish the list of eligible BDCs to benefit from its funding using certain compliance criteria.National Executive Council of Association of Bureau De Change Operators of Nigeria (ABCON) hinted on the latest developments through a memo to its members over the weekend.

The association also warned members that it will no longer be business as usual under the new supervisory regime of the central bank, as any infringement or infraction would result in outright revocation of license and prosecution.

ABCON said through the association’s various engagements with the central bank, in conjunction with ABCON’s strategic partners, CBN had agreed to its request, under the bank’s supervision, to inject liquidity into the market through a weekly intervention beginning today.

CBN assured ABCON that the new circular on the Revised Regulatory and Supervisory Guidelines to BDCs, which was introduced over the weekend, was only a draft exposure that required the association’s inputs before the release of the final guidelines by the apex bank.

To that effect, the letters of the guidelines were not cast in stone, the association’s leadership told its members, who had been worried over the sweeping reforms in the document, which, among other things, prescribed N2 billion and N500 million minimum capital for national and state BDCs, respectively.

Continue Reading