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Nigeria’s External Debt Up By 148% In Four Years – DMO

Nigeria’s Debt Management Office says the nation’s external debt stock rose by 148 per cent in almost four years of the MUHAMMADU BUHARI administration.

According to the DMO, the external debt soared to $25.61 billion dollars on March 31, 2019 from $10.32 billion dollars on June 30, 2015.

Eurobonds worth $10.87 billion dollars accounted for the largest chunk of the external debt, as it rose from $1.5 billion dollars on June 30, 2015.

The debt management body said debt owed to the World Bank rose to $8.90 billion dollars from $6.19 billion dollars in the period under review.

China, through its Export-Import Bank of China, is the third biggest lender to Nigeria with a loan of $2.55 billion dollars as of March 31, 2019, up from $1.39 billion dollars as of June 30, 2015.

Computer Literacy To Be Compulsory For Teachers And Pupils Nationwide – Senate

The Senate has resolved to make computer literacy compulsory for teachers and pupils in private and public schools nationwide.

The resolution followed a motion sponsored by Senator AKON EYAKENYI of the Akwa Ibom South Senatorial District, over the falling standards of education.

She urged the Federal Government and stakeholders to establish “computer facilities for proper training of pupils and students in computer knowledge.”

The lawmakers, including senator BASSEY ALBERT AKPAN of the Akwa Ibom North-East senatorial district, enjoined the three tiers of government be fully involved in the project.

In his contribution, Senate President AHMAD LAWAN said the National Council on Education must see to the implementation of computer education, adding that the upper legislative chamber would address its funding.

EFCC To Fight Corruption In NYSC

the Economic and Financial Crimes Commission -EFCC has taken is anti-corruption war to the National Youth Service Corps –NYSC to fish out unqualified graduates currently in the scheme.

The EFCC said it had received a request from the NYSC to check the activities of “unpatriotic Nigerians who sell their certificates to unqualified graduates to be able to undergo the youth service”.

EFCC’s acting chairman, Mr IBRAHIM MAGU, said this in Abuja when he received the NYSC Director-General, Brigadier-General SHUAIBU IBRAHIM, in his office in Abuja.

MAGU said the EFCC would partner and support the NYSC in its move to combat fraudulent mobilisation of unqualified graduates for national service.

July 17, 2019 President Buhari Approves Immediate Payment Of New Minimum Wage

President Buhari Approves Immediate Payment Of New Minimum Wage

It is good news for Nigerian workers, as President MUHAMMADU BUHARI has approved the immediate implementation of the N30,000 new national wage for Federal Public Service workers currently earning below the minimum wage.

The Chairman, National Salaries, Income and Wages Commission, RICHARD EGBULE said this at a news conference on the implementation of the new national minimum wage in Abuja.

EGBULE said commencement of the approved payment would be determined by the office of the Accountant-General and back dated to when the President signed the agreement.

According to EGBULE, the approval takes effect from April 18, 2018 and will affect the salary of government agencies under five salary structures.

Meanwhile, the Organised Labour says it has commenced mobilisation of workers for a total industrial action if negotiation on the consequential adjustment arising from the N30,000 new minimum wage breaks down.

In a communiqué signed by the acting it’s Chairman, ANCHAVER SIMON, and secretary, ALADE LAWAL, labour called on the federal government to reconvene the meeting of the negotiating committee.Labour further accused the government of deliberately making attempt to deny workers the opportunity of benefitting maximally from the new Minimum Wage Act signed by President BUHARI in April this year.

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