Connect with us

Government

Democratic Republic Of Congo Joins The East African Community (EAC)

Published

on

Congo Brazaville

The Democratic Republic of Congo (DRC) was on Tuesday officially admitted into the East African Community (EAC) during the 19th Extra-Ordinary Summit of the EAC Heads of State and Government chaired by President Uhuru Kenyatta virtually.

Welcoming the newcomer to the EAC, President Kenyatta termed the admission of DRC into the EAC a historic event that demonstrates the agility of the community to expand beyond its socio-cultural boundaries to new people and trade centred partnerships and collaboration that will expand opportunities for citizens of the region.

“Today as chairman of the EAC, I proudly and warmly welcome our brothers and sisters from the DRC to the EAC and look forward to joining hands in strengthening our community together. Working together, we have more to gain than when we are separate.

“Indeed, the combined population and GDP of our community will grow by 50 percent and 25 percent respectively, implying a corresponding expansion of the market for goods and services. These numbers imply expanded market opportunities for producers located within EAC under the Customs Union,” President Kenyatta said.

The President added that the expanded community will attract more investments across all sectors, a move that will create more wealth and employment for the people.

He pointed out that with the inclusion of DRC, the EAC will be in a better position to combine resources to develop the much-needed infrastructure, especially the main transit corridors running from east to west.

“The said infrastructure is crucial in facilitating cross-border movements of goods, people and physical capital as envisaged in the EAC Common Market,” the President said.

With a larger market of about 300 million people, President Kenyatta expressed optimism that the community will achieve better outcomes brought about by the economies of scale and pooling of productive human and financial resources.

Speaking during the summit, other East African leaders commended President Felix Tshisekedi of DRC for working hard to ensure his country joined the community noting that the action he took is not only beneficial to his country but the region at large.

Leaders who included Presidents Yoweri Kaguta Museveni (Uganda), Paul Kagame (Rwanda) and Samia Suluhu (Tanzania) thanked the EAC Council of Ministers and the Secretariat for speeding up the process that led to the admission of DRC into the community.

“The joining of East Africa Community by DRC is an event of great significance. I have been involved in these efforts for almost 60 years and this is really very pleasant that DRC has finally reconnected formally with EAC,” said President Museveni.

On his part, President Kagame said the admission of DRC into the EAC is in line with the community’s quest to widen and deepen integration for the region and the continent at large noting that Rwanda is ready to play its role in ensuring the success of the community.

“Rwanda commends the Council of Ministers and the Secretariat for speeding up this process. I urge all EAC organs to accelerate the full integration of DRC into our organization in line with the roadmap approved by the Council of Ministers,” he said.

Tanzanian President Samia Suluhu said the decision by President Tshisekedi to seek admission for his country into the EAC will provide an opportunity to entrench peace and security in DRC.

“To my brother Felix Tshisekedi, I commend you for the decision to seek admission to the EAC. And to the people of DRC your country’s decision to join EAC will accord you a great opportunity to extend space for peace and security, prosperity and solidarity within your country as well as the region,” she said.

In his inaugural speech at the EAC summit, President Tshisekedi thanked the EAC leaders for welcoming him to the community and assured of his commitment to working closely with them for the development and prosperity of the region.

President Évariste Ndayishimiye of Burundi was represented at the summit by Vice President Prosper Bazombanza while President Salva Kiir Mayardit of South Sudan was represented by Minister Barnaba Marial Benjamin.

The summit designated President Kenyatta, the EAC Chairman, to sign the treaty of accession of DRC into the EAC by April 14 this year.

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

Continue Reading
Comments

Government

Senate Suspends Senator Abdul Ningi for 3 Months Over Budget Padding Allegations

Published

on

Abdul-Ahmed-Ningi

The Senate has announced the suspension of Senator Abdul Ningi for three months following his allegations of budget padding to the tune of N3.7 trillion in the 2024 budget.

Ningi, who represents Bauchi Central and chairs the Senate Committee on Population, had made the claims in a recent interview with the Hausa service of the BBC.

During a plenary session, Senator Olamilekan Adeola, the Chairman of the Senate Committee on Appropriations, raised a motion to address Ningi’s allegations, citing the urgent need to address what he termed as “false allegations.”

The transcript of Ningi’s interview was read on the Senate floor, prompting deliberation on the appropriate action to take.

Initially, Senator Jimoh Ibrahim proposed a 12-month suspension for Ningi, but Senator Chris Ekpeyong moved to reduce it to six months.

Eventually, Senator Garba Maidoki amended the motion further, suggesting a three-month suspension.

The amended motion was put to a voice vote, and Senate President Godswill Akpabio announced the decision to suspend Ningi for three months.

Following the ruling, Ningi was escorted out of the Senate chamber by the Sergeants-at-arms.

The suspension comes amidst division within the Senate over Ningi’s claims, with some senators disowning his allegations and calling for a thorough investigation.

Continue Reading

Government

Ekiti Governor Unveils Multi-Billion Naira Relief Programmes Amid Economic Crisis

Published

on

Biodun Oyebanji

Ekiti State Governor, Mr. Biodun Abayomi Oyebanji, has announced a comprehensive relief package aimed at alleviating the hardship faced by the people of the state.

The relief programs encompass various sectors to cushion the impact of the economic downturn.

One of the key initiatives entails clearing salary arrears amounting to over N2.7 billion owed to both State and Local Government workers.

This move signifies the government’s commitment to addressing the financial burdens faced by its workforce.

Furthermore, Governor Oyebanji has approved a substantial increase of N600 million per month in the subvention of autonomous institutions, including the Judiciary and tertiary institutions.

This augmentation is intended to enable these institutions to implement wage awards in alignment with State and Local Government workers’ salaries.

In addition to addressing salary arrears, the relief programs extend to pensioners, with the approval of payments totaling N1.5 billion for two months’ pension arrears.

Moreover, an increase in the monthly gratuity payment to state pensioners and local government pensioners will provide additional financial support, totaling N200 million monthly.

The relief initiatives also encompass agricultural and small-scale business sectors.

The allocation of funds for food production and livestock transformation projects underscores the government’s commitment to enhancing food security and economic sustainability at the grassroots level.

Governor Oyebanji emphasized that these relief programs are part of the state’s concerted efforts to mitigate the adverse effects of the economic downturn and foster shared prosperity.

The comprehensive nature of the initiatives reflects a proactive approach towards addressing the challenges faced by Ekiti State residents.

Continue Reading

Government

President Tinubu Orders Immediate Settlement of N342m Electricity Bill for Presidential Villa

Published

on

power project

President Bola Tinubu has directed the prompt settlement of a N342 million outstanding electricity bill owed by the Presidential Villa to the Abuja Electricity Distribution Company (AEDC).

This move comes in response to the reconciliation of accounts between the State House Management and the AEDC.

The AEDC had earlier threatened to disconnect electricity services to the Presidential Villa and 86 Federal Government Ministries, Departments, and Agencies (MDAs) over a total outstanding debt of N47.20 billion as of December 2023.

Contrary to the initial claim by the AEDC that the State House owed N923 million in electricity bills, the Presidency clarified that the actual outstanding amount is N342.35 million.

This discrepancy underscores the importance of accurate accounting and reconciliation between entities.

In a statement signed by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, the Presidency affirmed the commitment to settle the debt promptly.

Chief of Staff Femi Gbajabiamila assured that the debt would be paid to the AEDC before the end of the week.

The directive from the Presidency extends beyond the State House, as Gbajabiamila urged other MDAs to reconcile their accounts with the AEDC and settle their outstanding electricity bills.

The AEDC, on its part, issued a 10-day notice to the affected government agencies to settle their debts or face disconnection.

This development highlights the importance of financial accountability and responsible management of public utilities.

It also underscores the necessity for government entities to fulfill their financial obligations to service providers promptly, ensuring uninterrupted services and avoiding potential disruptions.

Continue Reading
Advertisement




Advertisement
Advertisement
Advertisement

Trending