The report that the United States of America Ambassador to Nigeria, Mary Beth Leonard, stated that Nigeria would continue to be eligible for preferential trade access to the US market under the African Growth and Opportunity Act (AGOA) is one of the trending stories in Nigerian newspapers on Monday.
The Punch reports that the United States of America Ambassador to Nigeria, Mary Beth Leonard, at the weekend, disclosed that Nigeria would continue to be eligible for preferential trade access to the US market under the African Growth and Opportunity Act (AGOA).
A statement by the Ministry of Industry, Trade and Investment said that Leonard, on a visit to the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, had said Nigeria became eligible after a review of the criteria set by the US Congress under AGOA.
According to her, the criteria for eligibility among others included the establishment of a market-based economy, rule of law, political pluralism, right to due process, fair trial, equal protection under the law, elimination of barriers to US trade and investment, economic policies to reduce poverty, a system to combat corruption and bribery, and protection of internationally recognised workers’ rights, the statement disclosed.
AGOA criteria also required the benefitting country to respect internationally-recognised human rights.
Leonard noted that during the AGOA eligibility review, the US government noted the progress Nigeria had made to diversify and strengthen the market-based economy, poverty reduction, reforms in the power sector, raising electricity tariffs and implementing the Nigeria Economic Sustainability Plan.
The US ambassador, however, expressed her government concern on the availability and accessibility of US firms to forex, particularly their ability to repatriate revenue and fulfill loan obligations in timely manner, child labour and respect for the rule of law, the statement further said.
In his response, the Minister, who expressed his happiness with the US government report which allowed Nigeria to continue to enjoy preferential trade access to the US market, said the report was an affirmation of the progress the country was making to reposition the economy for better performance.
The newspaper says that the country’s external reserves hit a seven-month low after falling to $38.57bn as of May 25, 2022, figures obtained from the Central Bank of Nigeria have revealed.
Findings have shown that the continuous decline in the country’s external reserves used to defend the naira value is making the banks tighten access to foreign exchange to travellers and other legitimate users as scarcity bites harder.
According to figures obtained from the CBN on movement in external reserves, the reserves which had been fluctuating for weeks now, experienced its lowest of $39.01bn and $38.39bn on October 10 and 8, 2021 respectively.
Due to scarcity, many banks are extending waiting period to access forex for foreign trips, thereby denying travellers with urgent trips access to apply for Personal Travel Allowance or the Business Travel Allowance requests.
The banks have also been reducing the amount a customer can spend on the cards in dollar terms.
Ecobank Nigeria on Sunday explained its current stand on retail foreign exchange transactions for international school fees, accommodation and upkeep payments as well as PTA/BTA requests.
The Head, Consumer Banking, Korede Demola-Adeniyi, Ecobank said, “Due to current market trends, we require a 30-day window to complete requests for school fees, accommodation, and upkeep.”
The Guardian reports that two days after former President Goodluck Jonathan got a reprieve from a Federal High Court, removing the constitutional obstruction that now makes him eligible to contest 2023 presidency, President Muhammadu Buhari has distanced himself from any plot to draft Jonathan into the All Progressives Congress (APC) presidential race.
Indications have emerged that while few APC members, including a Northern governor, are behind the push to draft Jonathan into the ruling party’s presidential primary, a Presidency source late on Sunday, however, revealed that President Buhari has taken measures to distance himself from the plot.
The impeccable source in the Villa disclosed that instructions have consequently been given that there shall be no public release of photos of any meetings between the former President and the incumbent at this time as the President does not want such images to be used to confer any modicum of support to the plot to get Jonathan into the race.
According to the source, there are also concerns that the aides of the ex-President are “involved in actively keeping the plot alive in the media by releasing photos of his visits to the APC Chairman, Senator Abdullahi Adamu and Alhaji Mamman Daura, the President’s influential nephew, to insinuate that these two gentlemen are in support of the plot.”
However, while speculative news reports have claimed the APC has granted Jonathan waiver to join the presidential race even though he is not known to have properly fulfilled membership requirements, there has not been any formal confirmation that he submitted the presidential nomination forms or whether he would be included in the screening expected to happen this week.
The newspaper says that terrorists who, last week, threatened to kill passengers they abducted during the March 28, 2022 Abuja-Kaduna train attack have withdrawn the ultimatum.
The abductors had vowed to execute the passengers unless the Federal Government met their demands, including release of eight children held by the Nigerian military in Jimeta, Adamawa State.
A Kaduna-based publisher, Tukur Mamu, who disclosed the matter, said the terrorists dropped the idea after security agents were able to locate the children. He said the terrorists, nevertheless, urged the Federal Government to hasten release of the children.
Mamu, who is the spokesman of a prominent Islamic cleric, Sheikh Ahmad Gumi, said: “I can authoritatively confirm that the earlier threat to stop feeding the over 60 abducted passengers of the Abuja-Kaduna bound train and start executing the victims was successfully withdrawn on Saturday afternoon.”
He noted: “This was as a result of ongoing engagement with the Abu Barra-led abductors. This is a good development, even though for issues that have to do with the safety of the victims, to ensure continuation of engagement with the abductors and build confidence, we would not elaborate on this latest development, which comes less than 48 hours after the release of another threatening video of the kidnapped victims.
“We were able to identify the location of their eight children with the active support of security agencies and eventually sent a proof of life and their children’s existence to the terrorists, a development that has helped to restore confidence.”
Mamu affirmed that a temporary truce that would enable government facilitate action was reached with the abductors.
The Nation reports that Lagos State has partnered Finland to boost its comprehensive schools.
The comprehensive schools programme was launched last year. Governor Babajide Sanwo-Olu conceived the partnership.
Select teachers and coordinators were sent on a two-week training at the Tampere University Applied Sciences (TAMK) in Finland in partnership with Finland. The programme, which began on April 18, ended on May 1.
The aim was to pick up methodologies and strategies to be incorporated into the Comprehensive Schools Programme for the best results.
Adebayo Sodiq, a teacher from Lagos Education District I, with his colleagues, witnessed innovation first-hand at a project presentation on recycling plastic to form rings, earrings, and other items at Ylojarvi Upper Secondary School.
“I was impressed by the confidence of students and the depth of their know-how. It was an eye-opener on how learning can move from textbooks to practical and useful purposes. It is a testament to the flexibility of an education system where learners are accommodated to leave no dead end in the system.
“This is similar to the vision of the Lagos Comprehensive Schools Programme, and offers a specific equivalent in the Finnish JOPO Programme helping students regain motivation and prevent dropout.”
GIK/APA