Saturday, 3 November 2018

*What Buhari Told British Government About Obasanjo, Jonathan’s Administrations*


President Muhammadu Buhari has said that with the humongous resources at the disposal of Nigeria between 1999 and 2014, it was sad that infrastructure was not fixed.

President Buhari said the administrations then allowed infrastructure to rot completely within the period. 
Buhari said this when he received the outgoing British High Commissioner to Nigeria, His Excellency, Paul Arkwright, in a farewell audience at State House, Abuja, on Monday.

Buhari said, “Our focus now is on infrastructure; roads, rail, power, and others. How I wish we had fixed all those when we had money. 
“What we earned between 1999 and 2014 is on record, but nothing was done to infrastructure. Now, we are doing a lot more, with a lot less resources. And we shall continue to do our best.”

This was contained in the details of the meeting forwarded to DAILY POST by the President’s Special Assistant on Media and Publicity, Femi Adesina. 
President Buhari commended the outgoing High Commissioner for his warm and pleasant disposition, which has seen him traversing almost the entire country.

“I always see you all over the place,” the President noted.

*'ED Must Copy 🇸🇬Singapore Strategy If He 💫Wants Zim’s Economy to Recover'*

Renowned economist and currency expert, Professor Steve Hanke of Johns Hopkins University has advised President Emmerson Mnangagwa to adopt the strategy of Lee Kuan Yew, Singapore’s first prime minister if he wants the country’s economy to recover. In the last few weeks, prices have been increasing due to fluctuating rates of foreign currency on the black market. According to Hanke, Zimbabwe needs to adopt four principles: stable money, no foreign aid, first-world competitiveness and the protection of private property and the public’s safety to grow its economy and become affluent.

In an article written for Forbes Magazine, Hanke says

"So, what should the Mnangagwa government do to put Zimbabwe on a road to recovery and liberty? Zimbabwe should adopt the strategy of Lee Kuan Yew, Singapore’s first prime minister. That strategy was based on four principles: stable money, no foreign aid, first-world competitiveness, and the protection of private property and the public’s safety. Mr Lee’s near-perfect execution of the strategy was a result of the fact that he surrounded himself with first-class civil servants and paid them first-wages. As a result, Singapore escaped the grinding poverty it faced in 1965 to become one of the world’s most affluent countries.

"So far, the Mnangagwa government has not expressed interest in adopting any of the elements of the Singapore Strategy. Nor have members of his government displayed the kind of competence required to tow the economy out of the abyss. Zimbabwe remains in an economic ditch and the storm clouds are gathering."

Minimum Wage: Labour Holds🚷 Nationwide Mass Protest👊 Tomorrow*


Ahead of November 6 nationwide strike to compel government to peg a new minimum wage at N30,000, organized labour will tomorrow hold mass protest across the country as part of sensitization of workers and Nigerians for the planned industrial action.

This came as organized labour urged workers not to be deterred by the government’s threat of “no work, no pay” as strike had always complied with legal requirements.

Already, leaders of Nigeria Labour Congress, NLC, Trade Union Congress of Nigeria, TUC and United Labour Congress of Nigeria, TUC, have begun massive mobilisation of members nationwide and their civil society allies, ahead of not only tomorrow’s protest, but also for the nationwide strike on November 6.

*Zimbabwe's 2018 Budget💸 Deficit Seen at 11.1 Percent📈 of GDP*

Zimbabwe’s budget deficit will more than double to 11.1 percent of gross domestic product this year from an initial forecast of 5 percent due to runaway government spending, a senior treasury official said on Monday.

President Emmerson Mnangagwa’s government cranked up spending by increasing public sector salaries and purchasing farming inputs for rural farmers ahead of a disputed July 31 presidential election.

The southern African nation is facing an acute shortage of dollars that has stifled imports and sent prices soaring.

George Guvamatanga, the top civil servant at the finance ministry said the government planned to reduce spending by, among other measures, cutting its wage bill by $330 million between 2019 and 2020.

“A double digit budget deficit Mr Chairman is not sustainable,” Guvamatanga told a parliamentary committee.

*Cape Town Man to Be Sentenced👨‍⚖ for Raping His Girlfriend Before She⚰ Died*


The boyfriend of a young woman who was found guilty of raping her at a New Year's Eve party shortly before she died is expected to be sentenced in the Western Cape High Court on Monday.

During the judgment proceedings in September, Taariq Phillips appeared emotionless when he was acquitted of the murder of his girlfriend Sharisha Chauhan. He was, however, convicted of raping her before her death.

The state had alleged that the group had taken drugs and went dancing that night, whereafter Chauhan started feeling ill. Phillips accompanied his girlfriend back to the tent, the prosecution claimed, and an hour later the accused called for help.

*Angela Merkel To Step Down😯 as German🇩🇪 Chancellor in 2021*


Germany's Angela Merkel has said she will step down as chancellor in 2021, following recent election setbacks.

"I will not be seeking any political post after my term ends," she told a news conference in Berlin.

She also said she would not seek re-election as leader of the centre-right CDU party in December. She has held the post since 2000.

The CDU was severely weakened in Sunday's poll in the state of Hesse, the latest in a series of setbacks.

The election comes just weeks after Mrs Merkel's Bavarian sister party, the CSU, suffered huge losses in a state parliament vote.

Parties like the Greens and the far-right AfD have grown in national support following the 2017 general election, as backing for the major centre parties has waned.

Mrs Merkel said she took "full responsibility" for poor performance, and made clear she would not handpick her successor as party leader.