Israel Intensifies Air, Ground Attacks on North Gaza As 300,000 Flee Rafah
Israel has intensified its air and ground assaults on northern Gaza, resulting in a mass exodus of civilians from the city of Rafah. According to the United Nations Relief and Works Agency (UNRWA), at least 300,000 residents have been displaced amidst the turmoil.
Source: Al Jazeera English
The Israeli military’s operation has seen tanks push deeper into the Jabalia refugee camp, marking a new phase in the offensive against Hamas, the governing authority in the Gaza Strip. This move comes after months of tension and sporadic violence that has gripped the region.
The situation in Rafah deteriorated rapidly as Israeli forces seized a key border crossing previously used for civilian and humanitarian purposes. The military alleges that the crossing had been repurposed for terrorist activities, although evidence to support this claim has not been made public.
Stop electricity subsidy, IMF tells FG
The International Monetary Fund has warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.
Source: Punch Newspapers
In a report published recently by the IMF, the organisation told Nigeria that the subsidies would guzzle three per cent of the nation’s Gross Domestic Product in 2024 as against one per cent in the year before.
According to the report, the IMF commended the Federal Government for, among other things, phasing out “costly and regressive energy subsidies”, saying this was critical to creating fiscal space for development spending and strengthening social protection while maintaining debt sustainability.
Ensure you work as you dance, Obasanjo tells Adeleke
Former President Olusegun Obasanjo, urged Osun State Governor, Ademola Adeleke, not to relent in his drive for infrastructural development in the state.
Source: Vanguard News
Obasanjo, who spoke at the inauguration of a VIP lodge, an edifice located within the premises of Osun State Government House in Osogbo, recalled a private conversation he had with Adeleke, when he advised him not to stop dancing but to work very hard to improve lives of the residents of the state.
The former president, who declared himself as Adeleke’s dancing partner, also challenged the governor to unite the Peoples Democratic Party in the state, implement good policies that would affect people positively and ensure proper documentation of all his achievements as governor.
Banks cut loans to govt by 73% in March
Commercial lenders significantly reduced loans to the three tiers of government by 73.18 per cent to N19.59tn in March 2024 from N33.93tn in the previous month, according to data obtained from the Central Bank of Nigeria.
Source: Punch Newspapers
Government credit stood at N23.52tn in January. Financial analysts have linked the government’s rekindled interest in the fixed-income market in March to the decline in credit to the public sector.
The former President of the Chartered Institute of Nigeria, Professor of Economics and Dean of the College of Postgraduate Studies, Caleb University, Imota, Lagos, Olusegun Ajibola, told Sunday PUNCH Online that the government raised significant funds from the fixed-income market through treasury bills and bonds in March, which reduced the loans it took from commercial lenders during this period.