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China’s Population Drops for First Time Since 1961

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China’s population fell last year for the first time in six decades, a historic turn that is expected to mark the start of a long period of decline in its citizen numbers with profound implications for its economy and the world.

The drop, the worst since 1961, the last year of China’s Great Famine, also lends weight to predictions that India will become the world’s most populous nation this year.

China’s population declined by roughly 850,000 to 1.41175 billion at the end of 2022, the country’s National Bureau of Statistics said.

Long-term, U.N. experts see China’s population shrinking by 109 million by 2050, more than triple the decline of their previous forecast in 2019.

That’s caused domestic demographers to lament that China will get old before it gets rich,” slowing the economy as revenues drop and government debt increases due to soaring health and welfare costs.

China’s demographic and economic outlook is much bleaker than expected. China will have to adjust its social, economic, defense and foreign policies,” said demographer Yi Fuxian.

He added that the country’s shrinking labour force and downturn in manufacturing heft would further ‘exacerbate’ high prices and high inflation in the United States and Europe.

Kang Yi, head of the national statistics bureau, told reporters that people should not worry about the decline in population as “overall labour supply still exceeds Demand.

 

Reuters /Shakirat Sadiq

Agency To Build Agro-Machinery Institute in Cross River State

The National Agency for Science and Engineering Infrastructure, NASENI, has laid the foundation for the construction of an agriculture equipment and development institute in Cross River State, south-south Nigeria.

The Chief Executive of NASENI, Professor Mohammed Haruna, who performed the ceremony in Obudu local government area of Cross River State, said the decision to site the institute in the northern district was in recognition of the Governor Ben Ayade’s strides in agro-industrialisation.

Ease Modern Farming

Professor Haruna, who described the Governor as one, who deserves to be celebrated, said that the institute would produce high tech agricultural equipment to ease and modernize farming.

He said, “we are here today not only to lay the foundation for the construction of Machinery Equipment and Development Institute, but to celebrate an achiever, Governor Ayade.

Cross River State Governor, Sir Ben Ayade and the Executive Vice Chairman / Chief Executive of National Agency for Science and Engineering Infrastructure

“I must confess that it is his performance, his record that attracted our attention to decide that the institute was suitable to be sited in a cluster of industries in Obudu here in northern Cross River and the Nigerian President Muhammadu Buhari graciously approved our recommendation,” he stated.

Speaking further on the institute, the NASENI Chief Executive said, “this institute is not just a regular institute, it is a south-south zonal institute for agriculture. There would be only six in the country and one is located here. It is also among the first three in phase one of the construction and development of this institute.

“The institute has the mandate to research, develop and manufacture equipment to ease farming, to introduce mechanized farming – to ease cultivation, planting, weeding, harvesting, shelling, processing and preservation of food crops,” he further stated.

Essential for Growth

Responding to the gesture, Governor Ayade expressed gratitude to the Nigerian President Buhari for finding the state worthy of the project, saying “I celebrate the Nigerian President in a special way and also my friend, Professor Haruna. For those who know what I have done in Cross River, it is only in the fullness of time that you will see the manifestation of our dream.”

While reiterating the importance of agro-industrialisation to economic growth, the governor noted, “every nation must start with agro-industrialization and you cannot agro-industrialize without the basic equipment. The choice of Cross River for this institute is a result of the calibration of all that we have achieved in terms of agro-industrialization establishment of a plethora of agro-industries.”

 

 

Confidence Okwuchi

Heat Halts Play At Australian Open

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Scorching heat halted outdoor matches and sent fans scurrying for shade at the Australian Open on Tuesday before resuming late in the afternoon as players were given an early test of their endurance on a sweltering day two at Melbourne Park.

Organisers invoked their Extreme Heat Policy about three hours into the day session as temperatures nudged 36 degrees Celsius, 97F and searing gusts of wind blew through the venue.

The tournament’s Heat Stress Scale, which measures radiant heat, humidity and air temperature in the shade, crossed its highest threshold of 5.0, halting 10 outdoor matches at the Grand Slam.

Play continued under the roofs of the main showcourts, however, with former world number one Andy Murray sweating it out against Italian Matteo Berrettini at Rod Laver Arena.

Frenchwoman Caroline Garcia, who beat Katherine Sebov 6-3 6-0 on the main showcourt before Murray’s match, said she was not too badly affected earlier.

“I have to admit on Rod Laver Arena it was pretty nice. Obviously it was warm. It was nice to be able to walk in the shadow a little bit when you were able to serve but I didn’t feel that (it was) such warm weather.

I don’t know in the crowd there is some AC or whatever, but it felt warm, but it felt okay, Garcia said.

Play on the outdoor courts resumed at around 5 p.m. local time (0600 GMT) when conditions improved.

The suspension of play was not welcomed by all players, with local man Jordan Thompson blowing his cool when his match on Court Three was halted when trailing American J.J. Wolf 6-3 1-3.

“When does that ever happen?” world number 88 Thompson barked at the chair umpire.

“I’ve been here when it’s like 45 degrees.”

The temperature was already nudging 30 degrees Celsius when matches started in the morning, and Canada’s Leylah Fernandez was glad to see off French veteran Alize Cornet in straight sets in the first match on Court 3.

“I think I did well to manage my emotions, and then especially manage the heat, try not to get too hot-headed,” Fernandez told reporters.

“So I was very happy with that.”

Extreme heat is a feature of the Australian Open, held in mid-summer in the country, with play occasionally suspended and leaving organisers with scheduling headaches.

Tennis Australia tweaked its extreme heat policy at the end of 2018 after a slew of players complained of health and safety risks under the previous system.

Novak Djokovic begins his charge towards a record-extending 10th Australian Open title in cooler conditions in the evening when he meets Roberto Carballes Baena.

A more pleasant day is expected on Wednesday, with the temperature set to drop by more than 10 degrees.

 

Reuters/Samuel Isaiah

NGO Tells Political Leaders Give Account Of Stewardship

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A Non Governmental Organisarion, NGO known as the Civil Liberties Organisation, CLO, has called on elected political office holders in Nigeria to give account of stewardships by organising town hall meetings with their constituents nationwide.

The Chairman of CLO in Anambra State, Mr Vincent Ezekwueme, said that elected public office holders should relate more with Nigerians on their development efforts in the past three years.

According to him, executive governors, council chairmen, senators, members of the House of Representatives, state assembly lawmakers and ward councilors should convene expanded town hall meetings to properly brief their various constituents on their stewardship.

They should let the people know developmental projects they have done or attracted as well as their efforts towards tackling serious socio-economic challenges such as youths unemployment, restiveness and insecurity.

“They should do these town hall meetings urgently and not take the voters for granted any longer.

“Today, voters are more informed that politicians can no longer deceive and mislead them through provisions of emergency empowerment and poverty alleviation programmes prior to every periodic election. But only to disappear after the election, and reappear during next election time,” he said.

Mr.  Ezekwueme said that Nigerians were desirous of electing benevolent, competent, capable, selfless and patriotic servant leaders “who always think about the next generation, not the next election”.

The chairman said that the 2023 general election had provided a unique platform for effective positive change through voting in God-fearing servant leaders, and voting out corrupt, inept politicians who are bereft of ideas and innovation.

“Docile followers precipitate docile leaders.

“Hence, the inevitable and ineluctable need for citizens to be the watchdog of those in authority by asking questions where and when necessary on how public funds are spent for public good, interest and welfare,” the Chairman added.

NAN/Confidence Okwuchi

8th AFRIMA: Ugandan DJ Wins Best African DJ Award

Ugandan Disc Jockey, DJ Ssekitooleko Ronald, popularly known as “DJ Lito”, has won the best African DJ at the All-Africa Music Awards, AFRIMA.

This was announced during the award night held in Dakar, Senegal.

DJ Lito said the award was dedicated to all his fan across the globe.

He advised up-and-coming DJs and the intending ones to consistently remain harworking, focused and dedicated as they pursue their choice of profession.

I am quite excited and I appreciate everyone who has contributed to this award, this is dedicated to all my fans across the world and I appreciate all the media in my country,” he said.

Speaking about his journey to limelight, DJ Lito said he was able to attract much fans and recognition in 2020 when he defied  all Covid-19 lockdown protocols to perform at almost all the night clubs in his country.

According to him, success comes with hardwork, dedication, being focused and prayerful.

He said all these were the secret to his success as he promised his fans not to relent in making them proud.

 

NAN/Confidence Okwuchi

 

 

President Buhari urges Africa countries to enhance international trade

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Nigeria’s President, Muhammadu Buhari has urged African countries to enhance international trade by expanding their participation to benefit the African Continental Free Trade Agreement (AfCFTA).

He stated this during the ninth African Shippers’ Day themed: “African Continental Free Trade Agreement: A Veritable Platform for African Shippers to Mainstream into Global Trade,” which was held in Lagos state.

Represented by the Minister of State for Transportation, Ademola Adegoroye, the President explained that the participation of African countries in international trade would create wealth, generate employment and reduce poverty.

He noted that the volume of African export in the global trade was still very low at three per cent in spite of the growth in the continent.

On the AfCFTA, President Buhari said the experience during the outbreak of the COVID-19 pandemic and the global lockdown showed the need for a vibrant and successful AfCFTA.

He expressed optimism that the African Continental Free Trade Agreement would boost intra-African trade, strengthen the production and export of goods and services as well as create employment opportunities.

The President said that African producers would benefit from access to cheaper inputs, intermediate goods as well as larger markets for their products, while consumers would have access to cheaper goods and varieties of products.

He however noted that for the AfCFTA to have a positive influence on long-term investments, African Governments must develop appropriate policies, build the requisite infrastructure and ensure an educated workforce.

 “We will need to actively promote productive employment and decent work, women empowerment and food security and reduction in inequalities,” he added.

 

PIAK

 

 

Military Veterans call for review of security debarment allowance

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Military Veterans in Nigeria have appealed to the government to review the payment of security debarment allowance recently paid to retired servicemen in the country

The Chairman of the Nigerian Legion, Niger State Chapter, Mahmud Ahmed made the appeal in Minna the state capital during the Armed Forces remembrance Day.

Ahmed, a retired Staff Sergeant who appreciated President Muhammadu Buhari for approving the payment of the security debarment allowance, said that those who joined the Military almost 60 years ago, generally referred to as 63 NA (Nigerian Army) were poorly paid against their counterparts who joined in the late 1970s (The 79 NA).

“Those of us that participated in the Nigerian Civil War was paid lesser amount than the 79 NA enlistment who were our juniors in the Service.”

The Chairman of the Military veterans in Niger State further urged the government to look at the possibilities of paying the balances of the security debarment allowance to members of the 63 NA like their counterparts.

“We are pleading with the administration of President Muhammadu Buhari to reconsider payment of the balance, as a retired  Military General.”

President Muhammadu Buhari approved N134.7 billion for the payment of security debarment allowance (SDA) to all military veterans, during the launch of the emblem for the Armed Forces remembrance day in September 2022.

The Military veterans staged a protest over unpaid outstanding deferment allowance (SDA) which was approved  by the Government in May 2022

 

PIAK

CBN Governor Resumes Duty Ahead of Monetary Policy Committee Meeting

The Governor, Central Bank of Nigeria, Mr. Godwin Emefiele, has resumed duty after his annual vacation abroad.
Mr. Emefiele, who proceeded on leave in December 2022, resumed work, Monday, January 16, 2023.
A statement by CBN Director, Corporate Communications, Osita Nwanisobi said:
The Governor resumed with renewed vigour to perform his duty ahead of the first Monetary Policy Committee (MPC) meeting of the year scheduled for January 23 to 24, 2023.
“Mr. Emefiele remains committed to performing the task before him in line with his oath of office and the policy direction of President Muhammadu Buhari.
“While thanking the public for keeping faith with the Bank, we urge Nigerians to continue to support the policies of the Bank aimed at ensuring a stable financial system and the Nigerian economy in general.”

 

 

 

 

 

 

NGX investors begin week bearish

Investors trading on the floor of the Nigerian Exchange Group Limited, NGX,  witnessed a drop in market capitalisation of listed equities amid renewed bargain hunting and profit-taking on medium and large cap stocks.
Monday’s trading session ended with decrease of N89 billion on market capitalisation to close  at N28.512 trillion lower than the N28.602 trillion recorded on Friday.
Consequently, All-Share Index depreciated by by 163.66 basis points, representing a decline of 0.31 percent to close at 52,348.82 compared to Friday’s 52,512.48.
A total volume of 221, 85 million units of shares that exchanged hands in 5,219 deals.
The market sentiment, as measured by market breadth, was negative as 20 stocks gained, relative to 23 losers.
PRESCO led the gainers chart with the highest price gain on its shares with 9.87 percent to close at N150.80k and N139. WAPIC followed with a 9.52 gain percent on its share price to close at N0.46 while FTN Cocoa Processors had 7.14 percent gain on its share price to close at N0.30k.
 On the flipside, CHELLARAM led the losers table with a 9.70 percent loss on its share price to close at N1.21k followed by PRESITGE which had a 8.70 percent loss to close at N0.42k. Then Livestock Feeds had 7.69 percent loss to close at N1.20k.

Governor Makinde restates commitment to good governance

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The Oyo State Governor, Seyi Makinde, has restated that his administration would continue to work in harmony with other arms of government to produce a system of governance the people of the state would be proud of.

Governor Makinde, reiterated this on Monday, during the swearing-in ceremony of the acting Chief Judge of the state, Justice Iyabo Yerima, held in the Executive Council Chamber of the Governor’s Office, Secretariat, Agodi, Ibadan, expressing confidence in the competence and ability of the acting Chief Judge.

He explained that Yerima was sworn-in as the Chief Judge in an acting capacity because there is a process that requires the state to wait for the National Judicial Council (NJC) to send their recommendation and expressed confidence in Yerima’s ability to steer the ship of the Judiciary in the state, noting that his administration would give Justice Yerima the support needed to carry out her duties diligently.

“So, while we await that, as they say in the judicial circle, ‘nature abhors vaccum,’ we have to fill in this vacuum in accordance with Section 271 (4) of the Constitution of the Federal Republic of Nigeria, 1999, as amended. I must say that the fact Justice Yerima is the acting Chief Judge does not remove anything from her abilities, and on numerous occasions, she has acted on behalf of Hon. Justice Muntar Abimbola (rtd).”

The Governor explained that when re-elected, his administration would do more to reduce the infrastructure deficit in the judiciary and complete the work of modernising that arm of government, saying his administration would continue to deliver good governance to the people of Oyo State till May 28th when his tenure would end and should be held accountable by the people.

Makinde also charged the new Acting CJ not to waiver and to always stand for the truth, saying: “If you stand for the truth, you will be vindicated at the end of the day.”

The acting CJ promised that every resource given and allotted to the judiciary would be judiciously utilised for the benefit of justice delivery and service to the people of Oyo State.

She stated that she would be counting on the support of the state government in administering an effective justice system, stating that her vision was to make the Oyo State Judiciary a pacesetter in the area of good infrastructure.

“It really behoves on me at this time to do my very best for the good of Oyo State. As I stated some months back when I led the team of the judiciary to defend our 2023 budget, every resource given and allotted to the judiciary will be judiciously utilised for the benefit of justice delivery and service to the good people of Oyo State.”  

 

PIAK