FG to Complete Cash Transfers To Vulnerable Nigerians: IMF

FG to complete cash transfers to vulnerable Nigerians: IMF. The International Monetary Fund (IMF) has urged the Nigerian government to fast-track the completion of its cash transfer programme to support vulnerable households amid ongoing economic reforms.

IMF Communications Director, Julie Kozack, emphasized that while Nigeria’s efforts to stabilize its economy are commendable, policies must also protect the country’s poorest citizens.

IMF’s First Deputy Managing Director, Gita Gopinath, recently visited Nigeria and met with key officials, including Finance Minister Wale Edun and CBN Governor Yemi Cardoso. She also engaged with civil society groups and private sector stakeholders.

FG to Complete Cash Transfers

IMF representatives will return next week for the 2025 Article IV Consultation, an assessment of Nigeria’s economic policies. The Fund has consistently urged Nigeria to expand its cash transfer programme, particularly in rural areas, to alleviate rising poverty and food insecurity.

Similarly, the World Bank has stressed that cash transfers are crucial in helping Nigerians escape poverty amid inflation and weak economic growth.

IMF Appoints Elumelu To Advisory Council On Entrepreneurship? Growth

IMF appoints Elumelu to Advisory Council on Entrepreneurship? Growth. The International Monetary Fund (IMF) has appointed Heirs Holdings Founder and Group Chair, Tony Elumelu, to its Advisory Council on Entrepreneurship and Growth, convened by IMF Managing Director, Kristalina Georgieva. His appointment was disclosed in a statement on Friday.

The Advisory Council of the IMF comprises global business leaders, policymakers, and academics, dedicated to identifying and addressing regulatory barriers to entrepreneurship.

Its mandate is to recommend policies that enhance resource allocation, stimulate innovation, and catalyse sustainable private sector-led economic growth.

“Elumelu, Africa’s leading advocate of entrepreneurship and whose Foundation has funded, mentored and trained over 25,000 African entrepreneurs since 2015, champions entrepreneurship as the engine for the economic transformation of Africa.

“A self-made entrepreneur, Elumelu’s embracing of entrepreneurship is fundamental to his concept of Africapitalism, his belief that Africa’s private sector can and must play a leading role in the continent’s development, making long-term investments, that deliver social and economic value.

IMF Appoints Elumelu

“Elumelu will be instrumental in ensuring that Africa’s entrepreneurial potential is central to global economic policymaking.

Other members of the Council include: Harberger Professor of Economics, University of Chicago, Professor Ufuk Akcigit; Saudi Ambassador to the United States, HRH Ambassador Reema Bandar Al-Saud; Chair, CEO, and Co-Founder of Salesforce, Mr. Marc Benioff; Executive Chair, Banco Santander, Ms. Ana Botín; Chairman, Tata Group, Mr. Natarajan Chandrasekaran; Chief Executive, Vodafone Group, Ms. Margherita Della Valle; Founder, Chairman and CEO, Vista Equity Partners, Mr. Robert Smith and Argentine Minister of Deregulation and State Transformation, Mr. Federico Sturzenegger.

Federal Government Inaugurates N18.8bn Water Project In Benue

Federal government inaugurates N18.8bn water project in Benue. He noted that the project would improve the lives of an estimated 506,000 residents by providing access to potable water.

President Bola Tinubu on Thursday inaugurated the upgrade of the Buruku-Gboko water supply project, valued at ₦18.8 billion.

The project, located in Ameladu, Gboko Local Government Area of Benue State, is a major underground water collection site in the region.

The project, originally conceived in 1992 by former President Ibrahim Babangida to provide clean and safe drinking water to Gboko, Buruku, and environs, was neglected by successive administrations.

Speaking at the groundbreaking ceremony, Mr Tinubu, represented by the minister for water resources and sanitation, Joseph Utsev, said the project aligned with his administration’s Renewed Hope Agenda.

“The project is a clear demonstration of the government’s commitment to improving the lives of our citizens, which aligns with President Bola Tinubu’s Renewed Hope Agenda of providing one of the most essential necessities to the populace.

“The Buruku/Gboko Water Supply Project was initially conceived as the ‘Gboko-Yandev Water Supply System’ but has now been renamed the ‘Rehabilitation and Upgrading of Buruku/Gboko Water Supply Project,” Mr Utsev explained.

The minister stated that the rehabilitation and upgrade of the Buruku/Gboko Water Supply Scheme aimed to restore the vandalised waterworks at Ameladu, Mkar in Gboko, and the Buruku Water Supply Scheme.

He noted that the project would improve the lives of an estimated 506,000 residents by providing access to potable water and reducing the risk of waterborne diseases.

Mr Utsev explained that water would be sourced from the Katsina Ala River via an intake structure on the riverbank.

It would then be transported over a distance of 17 kilometres for purification and treatment before being distributed as potable water to Gboko, Mkar, and neighbouring communities.

He disclosed that the project would be executed by Messrs Ceylon Construction Services Limited at a cost of N18.8 billion, inclusive of all relevant taxes, with a completion timeline of 18 months.

“The scope of work includes the complete rehabilitation of the water intake and treatment plant at Gboko and the supply and installation of three low- and high-lift pumps with a motor power rating of 400V/50Hz.

“It has a discharge capacity of 380–440 m³/h at a head of 18–22 metres, along with an associated control panel adaptable to a solar power source using an RSI Hybrid 30KW VFD inverter.

“Other works at Buruku include the supply and installation of a 150m³/hr package water treatment plant with associated electromechanical equipment at Buruku station,” Mr Utsev added.

He urged the Benue government to provide the necessary support to the team of engineers and experts handling the project to ensure its successful completion.

Tap water

In his remarks, Benue Governor Hyacinth Alia commended Mr Tinubu for fulfilling his campaign promise to address the people’s long-standing challenge of accessing safe drinking water.

Represented by his deputy, Samuel Odeh, Mr Alia described the project as monumental, noting that it had been abandoned for decades.

He urged residents to take ownership of the project and ensure its sustainability.
“The project belongs to the people of Benue. I appeal to you not to harass the contractors so they can complete the work on time,” Mr Alia said.

Also speaking, the paramount ruler of the Tiv nation, the Tor Tiv, His Royal Majesty James Ayatse, assured that the community would take full ownership of the project and protect it.