News
FG must sustain reforms in spite of hardship on Nigerians – World Bank
Published
FG must sustain reforms in spite of hardship on Nigerians – World Bank. The World Bank Vice President and Chief Economist, Mr. Indermit Gill said yesterday that the Federal Government should sustain ongoing reforms despite the hardship on Nigerians.
While also commending the Central Bank of Nigeria, CBN for the unification of the exchange rates, Gill called on the federal government to provide cost-effective safety nets to protect the most vulnerable people from the hash impact of the reforms.
He spoke at the opening session of the #NES30# in Abuja, yesterday.
Mr. Gill admitted that the reforms of the present administration had brought hardship to Nigerians, especially the vulnerable poor but that it was the only way out for the economy.
To return the nation’s economy to the path of sustainable growth, Gill said Nigeria must sustain the reforms that if allowed would transform the Nigerian economy and that of the entire Sub-Sahara Africa.
His words, “I don’t know if you agree with me or you don’t agree with me. If he does that it will transform the economy of Sub-Sahara Africa.
It is very difficult to do these things but the rewards are massive. This is the lesson from the last 40 years as well as countries such as Norway, Poland and Korea.
“I am going to say something unpopular perhaps, Nigeria’s reforms from 2003 to 2007 were exactly what you needed but they were not sustained. Today’s fiscal and monetary reforms are hurting everyone especially ordinary Nigerians who are struggling with high prices of food and transport.
“The government must do everything in its power to protect the most vulnerable citizens against hardships because their lives and the lives 110 million children depend on it.
“You must stay the course of the reforms because Nigeria’s future and the future of these 110 million children depend on it. During the coming years, Nigeria’s policymakers have three key options. The first is to prioritise non-oil exports.
“The exchange rate that Nigeria now has is the most effective in 20 years.
It is a great opportunity. You must build foreign reserves as a buffer against oil volatility. Again, I think Governor Cardoso is doing many of these things and I think he should be encouraged.
“Second, every vulnerable household needs government support to be able to survive the current difficulties. Install cost-effective safety nets to protect the most vulnerable people. Financing it from some of the savings from fuel subsidies and the exchange rate savings.
“Nigerians’ need for jobs is immense. In the next ten years, more than 12 million Nigerians would enter the workforce. You need to generate jobs for them. You need to attract investments, especially in the non-oil sector.”
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Lifestyle
Innovative Crowdfunding Ideas to Support Children in Garment Factories
Published
4 days agoon
January 29, 2025By
JohnAddressing Child Labor in the Garment Industry: A Global Concern
Child labor remains a significant issue worldwide, particularly in the garment industry. Millions of children work in hazardous conditions, often denied education and subjected to exploitation. According to the International Labour Organization, approximately 160 million children are engaged in child labor globally, with a substantial portion in textile and garment production.
The rise of fast fashion and consumer demand for cheap clothing has exacerbated the problem, as many factories operate in regions with lax labor laws. These children work long hours under unsafe conditions, earning meager wages that trap them in a cycle of poverty. Addressing this issue requires innovative solutions, including crowdfunding, to provide tangible support to affected children.
Limitations of Traditional Fundraising Methods
Traditional fundraising methods, such as grants and corporate donations, have supported efforts to combat child labor. However, they often face challenges, including:
- Slow and bureaucratic processes that hinder timely interventions.
- Limited engagement from potential donors who feel disconnected from the cause.
- Lack of transparency makes it difficult for donors to track the impact of their contributions.
- High competition for limited resources, reduces the effectiveness of campaigns.
To overcome these limitations, alternative and more dynamic fundraising approaches, such as crowdfunding, have gained momentum.
How Crowdfunding Supports Children in Garment Factories
Crowdfunding has revolutionized fundraising by allowing individuals and organizations to raise funds from the public directly. With compelling storytelling and strategic social media campaigns, crowdfunding creates a strong emotional connection between donors and the cause. Key benefits include:
- Global reach: Online crowdfunding platforms extend the campaign’s visibility beyond traditional donors.
- Transparency: Donors can see exactly how their contributions are utilized.
- Personalized engagement: Supporters can choose specific projects to fund, fostering a sense of ownership.
Case Studies: Successful Crowdfunding Campaigns Fighting Child Labor
Several crowdfunding initiatives have successfully raised funds to support children in garment factories:
- “No Child in the Garment Industry” Campaign: This initiative raised over $100,000 to fund educational programs and vocational training for at-risk children.
- “Empower Young Lives” Initiative: Focused on providing scholarships for children working in garment factories in Bangladesh, this campaign garnered significant donor engagement and media attention, enabling many children to return to school.
Innovative Crowdfunding Strategies for Maximum Impact
To maximize crowdfunding success, organizations can adopt innovative approaches, such as:
- Virtual Reality Experiences: Creating immersive VR content that allows donors to witness the daily struggles of child laborers, fostering empathy and increased contributions.
- Ethical Fashion Shows: Hosting events featuring ethically produced clothing to raise awareness and funds for the cause.
- Influencer Partnerships: Collaborating with social media influencers to amplify crowdfunding campaigns and reach wider audiences.
- Gamified Giving: Incorporating reward-based crowdfunding, where donors receive unique incentives, such as hand-made crafts from rescued children.
The Impact of Crowdfunding on Child Labor Eradication
Crowdfunding plays a crucial role in breaking the cycle of poverty and exploitation by:
- Providing direct financial support for education, safe housing, and legal advocacy.
- Raising global awareness, pressuring corporations and governments to enforce stricter labor laws.
- Encouraging community participation, empowering individuals to take action against child labor.
Challenges and Ethical Considerations in Crowdfunding
While crowdfunding presents immense opportunities, ethical considerations must be addressed:
- Transparency & Accountability: Clear reporting mechanisms should be in place to ensure funds reach the intended beneficiaries.
- Respectful Storytelling: Campaigns must avoid exploiting children’s suffering for emotional appeal, maintaining dignity in representation.
- Community Involvement: Engaging affected communities in decision-making ensures that initiatives align with their actual needs.
How Individuals and Organizations Can Get Involved
Individuals and organizations can contribute by:
- Supporting existing crowdfunding campaigns through financial contributions or social media sharing.
- Launching their initiatives, and collaborating with NGOs and local stakeholders.
- Educating others on child labor issues, fostering a culture of advocacy and action.
Conclusion: The Future of Crowdfunding in Ending Child Labor
Innovative crowdfunding solutions provide a scalable and impactful way to support children in garment factories. By leveraging digital platforms, engaging storytelling, and community-driven fundraising, we can work towards a world where every child has the opportunity to learn, grow, and thrive—free from exploitation.
Join the movement today and be a part of the change!
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Business
Nigeria Secures $1.1 Billion AfDB Loan to Provide Electricity for 5 Million People by 2026 – Tinubu
Published
4 days agoon
January 29, 2025By
JohnNigeria Secures $1.1 Billion – AfDB Invests in Nigeria’s…
AfDB Invests in Nigeria’s Power Sector to Boost Electricity Access
Nigeria has secured a $1.1 billion loan from the African Development Bank (AfDB) to enhance electricity access for 5 million people by the end of 2026, according to President Bola Tinubu.
Tinubu, speaking through Minister of Power Adebayo Adelabu at the Mission 300 Africa Energy Summit in Dar es Salaam, Tanzania, highlighted the transformative impact of the AfDB’s investments in Nigeria’s energy sector.
In addition to the $1.1 billion loan, Tinubu also confirmed that the AfDB has allocated $200 million to the Nigeria Electrification Project, which is expected to provide power to 500,000 people by the end of 2025.
“This is an ambitious goal, but we can achieve it together,” Tinubu stated. “As Nigeria’s President, I am committed to making energy access a top priority.”
Nigeria Set to Benefit from AfDB and World Bank Investments
Beyond the AfDB’s current funding, Nigeria is also set to benefit from an upcoming $1.2 billion AfDB investment in the Nigeria Desert to Power programme and a facility for the Nigeria-Grid Battery Energy Storage System.
Tinubu outlined the specifics of the additional investments:
- $700 million for the Nigeria Desert to Power Programme
- $500 million for the Nigeria-Grid Battery Energy Storage System, which will provide electricity to 2 million more people
Furthermore, the World Bank’s $750 million support for expanding distributed energy access through mini-grids and standalone solar systems is expected to bring electricity to 16.2 million Nigerians.
Global Support for Nigeria’s Energy Transformation
President Tinubu expressed gratitude to Ajay Banga, President of the World Bank Group, and Akinwunmi Adesina, President of AfDB, for their commitment to transforming Africa’s energy landscape. He also acknowledged contributions from:
- UN Sustainable Energy for All
- The Rockefeller Foundation
- The Global Energy Alliance for Development
“Africa is rich in energy resources, yet millions of our citizens still lack access to reliable and affordable energy. This situation is unacceptable. It is our responsibility to take collective action to change this narrative,” Tinubu stated.
Nigeria’s Renewable Energy Future: A Path to Economic Growth
With these investments, Nigeria is positioning itself as a leader in renewable energy expansion across Africa. The funding from AfDB and the World Bank will accelerate Nigeria’s electrification efforts, boost economic growth, and improve the quality of life for millions of citizens.
Stay updated with the latest Nigeria energy news and power sector developments by following our reports.
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News
VIDEO: Young Woman Allegedly Killed by Gospel Singer Laid to Rest
Published
3 weeks agoon
January 15, 2025By
JohnVIDEO: Young Woman Allegedly – VIDEO: Young Woman Allegedly…
VIDEO: Young Woman Allegedly Killed by Gospel Singer Laid to Rest
The remains of Salome Adaidu, allegedly murdered by gospel singer Timileyin Ajayi, have been interred amid an outpouring of grief.
The sombre burial ceremony, captured in a viral video, showed mourners weeping as her body was laid to rest on Monday night.
Ajayi, who gained popularity as a gospel artist and motivational speaker, was apprehended in Nasarawa after being caught with Adaidu’s severed head concealed in a polythene bag.
The grim discovery occurred on Sunday in Agwan Sarki, Orozo, near the Federal Capital Territory (FCT).
How police arrested Salome’s killer
Authorities revealed that an intelligence tip-off led security agents to an uncompleted building where the suspect was arrested.
During interrogation, Ajayi confessed to the crime, claiming a heated altercation with Adaidu led to her death.
“We fought, and she tried to stab me with a knife,” he stated in a now-viral video.
The Killer’s confession
Ajayi, who released his album God of the Earth in 2020, further admitted that the rest of Adaidu’s body was at his residence, prompting authorities to intensify their investigation into the incident.
The chilling case has sparked public outrage, with many calling for swift justice.
Meanwhile, security agencies are working to piece together the events surrounding Adaidu’s tragic death.
This shocking crime has drawn widespread attention, leaving the community grappling with the devastating loss of a young life.
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