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NIMC to Register, Issue 2.5 million National Identification Monthly

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The National Identity Management Commission has said it would improve registration and issuance of the National Identification Numbers to both Nigerians and legal residents to the current 500,000 to 2.5 million per month.

Aliya Aziz, Director-General, NIMC, said this was the commission’s renewed commitment towards the provision of identity services to the nation.

He gave the assurance while playing host to the Minister of Communications and Digital Economy, Isa Pantami, who was on an official visit to the commission’s head office in Abuja.

Aziz said in a statement issued in Abuja by the Head, Corporate Communication, NIMC, Kayode Adegoke, that the commission would meet and surpass the monthly target.

This, he said, would be part of the policy statements in the National Digital Economy Policy and Strategy.

The NIMC boss told his guest that the commission had competent human resources and was looking forward to government support and intervention in injecting the much needed material resources to realise the set objectives.

Pantami charged the commission to increase and improve its performance with regards to NIN registration and issuance, as he also reiterated the target of 2.5 million monthly enrolments.

The minister told his host that the importance of digital identity in actualising the digital economy goals could not be overemphasised and commended the strides recorded by the NIMC despite limited resources.

He assured the commission of government’s support and guidance towards ensuring the fulfilment of its mandate, adding that he had initiated moves to improve staff welfare at the NIMC.

Pantami also assured the NIMC management and staff of his resolve to improve the state of the current infrastructure and equipment to enable the commission to sustain its performance.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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UAE Commits $30 Billion as COP28 Climate Talks Kick Off in Dubai

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UAE President Sheikh Mohammed bin Zayed inaugurated the COP28 United Nations climate talks in Dubai on Thursday with a groundbreaking commitment of $30 billion to bolster climate solutions.

Notable world leaders, including Saudi Crown Prince Mohammed Bin Salman, German Chancellor Olaf Scholz, and Brazil President Luiz Inacio Lula da Silva, are scheduled to address the summit.

The unprecedented scale of this year’s COP is evident with tens of thousands of delegates in attendance, making it one of the largest gatherings in COP history.

Beyond politicians and diplomats, the summit attracts campaigners, financiers, and business leaders, providing a diverse platform to address pressing climate challenges.

The urgency of the discussions is underscored by the UN’s declaration of 2023 as the hottest year on record, coupled with the ongoing rise in greenhouse gas emissions.

One early success at COP28 is the agreement among nations on details for managing a fund designed to aid vulnerable countries in coping with extreme weather events intensified by global warming.

Also, rich countries have pledged at least $260 million to initiate this facility.

UAE’s COP28 President, Sultan Al Jaber, announced the launch of ALTERRA, the largest private finance vehicle for climate change, in collaboration with BlackRock, Brookfield, and TPG.

ALTERRA aims to mobilize $250 billion by the end of the decade, with $6.5 billion allocated to climate funds for investments, particularly in the global south.

As the summit unfolds, other pivotal topics include agreements to expand renewables, commitments to phase out fossil fuels, rules for a forthcoming UN carbon market, and the first formal evaluation of global progress in combating climate change since the signing of the Paris Agreement in 2015.

The UAE’s decisive move in financing climate solutions sets a significant tone for COP28, emphasizing the imperative for collective action to address the escalating climate crisis.

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Nigeria Eyes BRICS Membership within Two Years as Foreign Minister Emphasizes Strategic Alignment

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In a strategic move towards global economic collaboration, Nigeria is aspiring to join the BRICS group of nations within the next two years.

The Minister of Foreign Affairs, Yusuf Tuggar, affirmed that Nigeria is open to aligning itself with groups that demonstrate good intentions, well-meaning goals, and clearly defined objectives.

Tuggar stated, “Nigeria has come of age to decide for itself who her partners should be and where they should be; being multiple aligned is in our best interest.”

He emphasized the need for Nigeria to be part of influential groups like BRICS and the G-20, citing criteria such as population and economy size that position Nigeria as a natural candidate.

BRICS, comprising Brazil, Russia, India, China, and South Africa, stands as a formidable bloc of emerging market powers.

In a recent move to expand its influence, BRICS invited six additional nations, including Saudi Arabia, Iran, Egypt, Argentina, Ethiopia, and the United Arab Emirates, to join the group.

Nigeria, as Africa’s largest economy, has been absent from the BRICS alliance, prompting discussions on the potential economic and political advantages the bloc could offer the country.

Analysts have noted that BRICS membership could provide Nigeria with significant leverage on the global stage.

Vice President Kashim Shettima clarified that Nigeria did not apply for BRICS membership after the bloc’s announcement of new members in August.

Shettima emphasized the principled approach of President Bola Ahmed Tinubu, highlighting a commitment to consensus building in decisions related to international partnerships.

As Nigeria eyes BRICS membership, the move is seen as a strategic step towards enhancing its global economic and diplomatic influence.

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Nigeria Spends N231.27 Billion on Arms Procurement in Four Years Amidst Rising Security Challenges

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The Federal Government of Nigeria has disbursed a total of N231.27 billion for arms and ammunition procurement over the past four years.

Despite this significant investment, security agencies argue that the allocated funds are insufficient to effectively tackle the myriad security challenges afflicting the nation.

Chief of Defence Staff, General Christopher Musa, defended the substantial budget for arms purchases during a session with the House of Representatives.

He emphasized that Nigeria’s dependence on foreign countries for military hardware, which are priced in dollars, diminishes the impact of the substantial budget when converted to the local currency.

General Musa explained, “We don’t produce what we need in Nigeria, and if you do not produce what you need, that means you are at the beck and call of the people that produce these items. All the items we procured were bought with hard currency, none in naira.”

He further illustrated the challenges faced, citing that a precision missile for drones costs $5,000, underscoring the magnitude of the expenses associated with arms procurement.

An analysis of the annual budgets for the Ministry of Defence and eight other armed forces from 2020 to 2022 reveals allocations of N11.72 billion, N10.78 billion, and N9.64 billion, respectively.

In 2023, N47.02 billion was disbursed for arms procurement, supplemented by a recently passed budget of N184.25 billion, resulting in a total of N231.27 billion.

Security expert Chidi Omeje raised concerns about the Defence Industries Corporation of Nigeria (DICON), which is tasked with manufacturing arms locally. Omeje criticized DICON’s underperformance, urging the government to revamp the agency to reduce reliance on foreign nations for arms and ammunition.

Omeje stressed, “The new government must make sure that DICON lives up to its responsibilities,” highlighting the urgency of fostering self-sufficiency in arms production to address the country’s security challenges effectively.

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