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N-Power And Its Bitter-Sweet Experience

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N-POWER was initiated to be a solution provider to curb the high rate of unemployment and poverty in Nigeria. However, so far, it has been a bitter-sweet experience for beneficiaries of the programme.

Investors King gathered that the monthly stipends of these beneficiaries are now unable to meet up with the economic situations in the country.

Recall that President Muhammadu Buhari, under the Social Investment Programme (SIP) and through the Ministry of Humanitarian Affairs, Disaster Management and Social Development, had said the programme was built to address the issues of youth unemployment and help increase social development, targeting youths between the ages of 18 and 35. Designed to be community-based, the exercise is to allow one million volunteers in different streams of batches.

Affirming this, Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Faroug had said: “It is a well-known fact that N-Power programme is a critical part of the National Social Investment Programmes domiciled in the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development (FMHADMSD) and designed to achieve the national objectives of poverty reduction and job creation”.

With the national minimum wage standing at N30, 000, N-Power beneficiaries are usually paid the sum of N30,000 monthly.

However, during the 2022 Worker’s Day celebration, Edo state Governor, Godwin Obaseki approved N40, 000 minimum wage for Edo state workers. The governor said the decision was to “cushion the hardship being experienced by the workers, particularly the effects of rising food prices.”

Investors King recalls that in the fourth quarter of 2015, prior to the commencement of the programme, unemployment rate in Nigeria was 12.1 per cent. However, in 2018, the rate rose to 14.23 per cent.

Currently, unemployment rate in Nigeria stands at 33.3 per cent while youth underemployment is at 42.5 per cent.

In 2021, Farouq stated that the Federal Government has approved an additional 400,000 youths have been approved for the Batch C1 programme. Since this announcement, beneficiaries have not been able to register for this Batch C2.

Several reasons have been responsible for this, from wrong deployment of Place of Primary Assignment (PPA) to delay in monthly payment.

N-POWER had severally apologised to beneficiaries over the non-payment of their stipends. It had earlier said on its official Facebook page that payment for Batch C1 have been initiated and crediting of accounts will begin, including outstanding payments.

But later, N-Power posted that network glitch was responsible for the subsequent delay.

“We did not intentionally redeployed N-power Batch C1 Beneficiaries, not at this point.
Therefore, the sudden CHANGE OF PPA and all PROCESSING PAYMENT recently changed to FAILED reading system error as encountered was as a result of NETWORK FAILURE.

“There is no cause for Alarm as our team are working to rectify it. Once that is done, your payment will be reinitiated. Please be patient,” N-Power said.

However, different reactions trailed this latest announcement. To many beneficiaries of the programme, a delay in the payment of their stipends amounts to delay for the Batch C 2 intakes.

One of the beneficiaries, SAYEDADAMADAMS said: “Why is it that the same network glitch did not fail and make their five-months paid into their accounts.”

Others lamented that the N30,000 stipend has not been able to sort their expenses due to the growing economic challenges in Nigeria.

One of the beneficiaries, Oluwafunmilayo Oluwatobi Adegun told BBC that the stipend is small, adding that the government is supposed to increase the stipend from N30, 000 as that the amount has not been able to solve anything in this country.

She said: “Many of the beneficiaries have families that depends on them to pay school fees.”

She further faulted government’s decision to disengage N-Power beneficiaries after their expiration of one year and advised that they should provide other engagements for beneficiaries.

“Government is supposed to put concrete plans in place so that the beneficiaries will not be stranded after the programme. N-Power without proper exit plan is meaningless,” she continued.

 

Sport Business

Usyk Claims Victory Over Fury in Historic Bout, Becomes Undisputed Heavyweight Champion

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Oleksandr Usyk emerged victorious over Tyson Fury to claim the title of undisputed heavyweight champion.

The highly anticipated bout, held in Riyadh, Saudi Arabia, showcased the remarkable skill and determination of both fighters, culminating in a split-decision victory for Usyk.

From the opening bell, the tension was palpable as Fury, the reigning WBC champion, and Usyk, the unified cruiserweight champion, squared off in the ring.

Fury, known for his towering stature and formidable punching power, sought to impose his will early on, using his reach advantage to keep Usyk at bay.

However, Usyk, undeterred by the size disparity, showcased his superior footwork and technical prowess, darting in and out of Fury’s range to land precise counterpunches.

As the rounds progressed, the momentum shifted back and forth between the two fighters, with each landing significant blows and demonstrating their resilience in the face of adversity.

Fury’s powerful punches tested Usyk’s chin, while Usyk’s speed and agility kept Fury on the defensive.

In the pivotal moments of the fight, Usyk delivered a masterful performance in the later rounds, capitalizing on Fury’s fatigue to unleash a barrage of punches that rocked the defending champion.

Despite Fury’s valiant efforts to rally back, Usyk’s relentless pressure and pinpoint accuracy earned him the judges’ favor, securing a split-decision victory and etching his name in the annals of boxing history.

With this triumph, Usyk joins the ranks of legendary heavyweight champions, becoming the first undisputed heavyweight champion since Lennox Lewis more than two decades ago.

His victory not only cements his status as one of the sport’s elite athletes but also signals a new era in the heavyweight division, characterized by fierce competition and unparalleled skill.

As the boxing world reels from the electrifying showdown, fans and pundits alike eagerly await the prospect of a rematch between Usyk and Fury. With both fighters showcasing their championship pedigree, the stage is set for another epic clash that promises to captivate audiences worldwide.

In the aftermath of his victory, Usyk expressed gratitude to his team, his country, and his faith, attributing his success to hard work and dedication.

Meanwhile, Fury, while disappointed with the outcome, vowed to bounce back stronger and reclaim his title in the anticipated rematch.

As the boxing world celebrates Usyk’s historic achievement, his victory serves as a testament to the enduring spirit of sportsmanship and the unyielding pursuit of excellence in the noble art of boxing.

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Education

JAMB Releases 36,540 Withheld UTME Results, Dismisses Cyber Breach Claims

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The Joint Admission and Matriculation Board (JAMB) has quelled concerns over the integrity of the Unified Tertiary Matriculation Examination (UTME) results by releasing an additional 36,540 previously withheld scores.

This move follows earlier revelations of withheld results and assertions of a cyber security breach.

Fabian Benjamin, the spokesperson for JAMB, confirmed the release of these results in a statement issued late Tuesday in Abuja.

This latest batch of released scores, when combined with the 531 previously unveiled, brings the total number of results made public to 1,879,437.

Benjamin took the opportunity to address circulating rumors regarding the security of the UTME results.

He categorically dismissed claims of a cyber security breach, saying that the examination outcomes remain intact and securely stored.

He stressed that the results are not stored in any cloud system and thus cannot be compromised by external entities.

At the time of the UTME release, JAMB had disclosed that certain results were withheld pending further investigation.

Subsequently, 531 of these results were recently unveiled with the remainder still under scrutiny.

Benjamin explained that any candidates implicated in examination malpractice are undergoing thorough investigation.

The examination board intends to meticulously review footage from CCTV cameras installed across all accredited centers to ascertain each candidate’s involvement.

Benjamin urged the public to remain vigilant against misinformation originating from sources not affiliated with JAMB.

He attributed the discrepancies in minimum admissible scores to variations among tertiary institutions. Some institutions, he noted, proposed lower minimum scores than others, resulting in varying benchmarks.

Benjamin clarified that these benchmarks are determined collectively by all Heads of Institutions during the annual Policy Meeting on Admissions, ensuring uniformity across the country.

Also, Benjamin cautioned religious organizations against overstepping their designated roles.

He warned against the dissemination of false information to governmental bodies for personal gain.

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Travel

British Airways Owner IAG Prepares for Summer Surge Amid High Travel Demand

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As the world gradually emerges from the grip of the pandemic, the travel industry is witnessing a resurgence in demand with British Airways owner IAG SA gearing up for a busy summer season.

Despite lingering challenges, the airline conglomerate remains optimistic about the outlook, citing strong demand for travel within Europe and across the Atlantic.

In a recent stock exchange filing, IAG disclosed an adjusted operating profit of €68 million ($73.3 million) for the three months ending March.

According to Chief Executive Officer Luis Gallego, the group’s core markets, including the North Atlantic, South Atlantic, and intra-Europe routes, have shown robust performance, positioning them well for the upcoming peak travel period.

With vaccination rates increasing and travel restrictions easing in many parts of the world, consumers are eager to resume travel plans, fueling the surge in demand.

However, the road ahead is not without its challenges. While travel within Europe and across the Atlantic remains strong, other regions present a more complex operating environment.

The ongoing conflict in the Middle East has dampened demand for certain destinations, while airspace restrictions resulting from geopolitical tensions, such as the Russian invasion of Ukraine, have disrupted flight routes to East Asia.

Despite these hurdles, IAG remains resilient, banking on the strength of its core markets and the performance of its brands to weather the storm.

The company’s strategic positioning and proactive measures to adapt to changing circumstances have positioned it to capitalize on the rebound in travel demand.

As the summer season approaches, IAG is focused on ensuring operational readiness to meet the surge in passenger numbers.

With travelers eager to reconnect with loved ones, explore new destinations, and embark on long-awaited vacations, the airline group stands ready to facilitate safe and seamless travel experiences.

As vaccination campaigns progress and travel sentiment rebounds, IAG’s proactive approach and strategic investments position it as a key player in the aviation industry’s recovery journey. With optimism on the horizon, the company remains committed to delivering exceptional service and fostering a seamless travel experience for passengers worldwide.

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