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2021 BUDGET : Brigade Of Guards To Consume More than 1.5 Billion Naira

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Abbas Yushau Yusuf

The Minister of Defence, Maj Gen Bashir Salihi Magashi (rtd) has defended the Ministry of Defence 2021 budget proposal before the House of Representatives Committee on Defence Chaired by Babajimi Bande at the Green chamber of the National Assembly.

General Magashi presented Three hundred and forty billion, three hundred and fifteen million, three hundred and fifty nine thousand, two hundred and fifty five naira ninety five kobo.(N340,315,359,255.95) for the Ministry of Defence 2021 fiscal year.

The Minister who was accompanied by the Permanent Secretary Ministry of Defence, Hussaini Babangida said the budget is premised on the 2020-2023 Economic Recovery and Growth Plan (ERGP) of the government as well as predicated on strengthening the Services and other Military institutions.

This is to enable them perform their statutory responsibility without lacking the necessary requirements.

He gave a breakdown of the budget proposal of two billion, seventy six million, four hundred and nine thousand, eight hundred and forty four naira (N2,076,409,844.00) as main Overhead cost of the Ministry for the year out of which the sum of One billion five hundred and twenty million (N1,520,000,000.00) is for the Brigade of Guards. In addition, the sum of five hundred and fifty six million, four hundred and nine thousand eight hundred and four naira (N556,409,844.00) is budgeted for its regular Overhead expenditure to arrive at the grand total of three hundred and forty billion, three hundred and fifteen million, three hundred and fifty nine thousand two hundred and fifty five naira, ninety five. kobo( N340,315,359,255.95).

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According to the Minister, the Projects to be executed by the Ministry in the 2021 budget include the on-going and Special projects approved by the Commander-in-Chief of the Armed Forces, President Muhammadu Buhari which cover
acquisition of Defence Equipment to be executed on government to government on win-win basis estimated at $692,968,573.00 out of which 30% was released by the Federal Ministry of Finance, Budget and National Planning.

The Defence Minister, disclosed that the Ministry has the Presidential
directive to execute a stalled contract put at USD269,734,420.50 for the delivery of seven hundred (700) Troops Carrying Vehicles and fifty (50) buses awarded since 2014 by the Office of the National Security Adviser.

Meanwhile, the Minister had earlier summarised the 2020 budget performance as at 26th October pointing out that 88% of the Overhead was utilised while the total Expenditure for Capital utilised stands at 16%. He however blamed the low Capital utilisation on four causative factors. They include, the challenge of the general effects of Covid-19 pandemic, paucity of funds, late releases of Capital funds and bureaucratic bottleneck associated with procurement process.

He assured the House Committee on Defence, that the Ministry is poised to actualising its statutory responsibility of providing adequate security to entrenche peace in a united Nigeria.

In a statement by Muhammad Abdulkadiri said the Chairman House Committee on Defence Babajimi Bande reiterated the commitment of members to doing the needful with the budget proposal without any delay.

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Uber Shutdowns Operations in Nigeria

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By Yusuf Danjuma Yunusa

Ride-hailing company, Uber, has shut down its operations in Nigeria.

In a statement, the company, which came into Nigeria in 2014, said its exit is effective from September 2, 2026.

“We are writing to share some difficult news. After a thorough review of our business, we have made the tough decision to wind down our operations in Nigeria, effective 2 September 2026.

“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.

“Whether it was a morning commute, a ride to see loved ones, or exploring the city, thank you for trusting the platform to connect you to a driver to get you there safely. We know this may cause disruption to your routine, and we sincerely apologize for the inconvenience.”

In a memo on Wednesday, the ride-hailing company also announced elimination of roughly 3,300 positions.

The job cuts focused on management and coordination roles, according to its CEO, Dara Khosrowshahi.

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“Today, we’re making a number of significant organizational changes across Uber. We are removing layers, simplifying team structures, refining our global location strategy, and focusing our people and investments against the biggest opportunities ahead of us.”

“As a result, we will be reducing the size of our team by about 10%. Everyone whose role has been affected has already been notified, except in countries where we will follow the required local process.

“This wasn’t a decision we made lightly, because it will have a real impact on our teammates and friends who have worked hard for Uber. It’s important to say that these changes are about how we’re organized and what we’re prioritizing, not about anyone’s contributions to Uber, which we will always value.

“I’m sure you’re asking, ‘Why, and why now?’ particularly since our business is performing so well. Over the last 5+ years, Uber has grown by orders of magnitude, with our top line nearly tripling. We’ve built new products, expanded into new businesses, reached more consumers and supported more earners, and become a much larger and stronger company. But that growth has also brought complexity: more layers, more coordination, more fragmented ownership, and in some cases structures that made sense when businesses were smaller but no longer serve us well at our current scale.

“Our opportunity from here is enormous: we have the chance to bring Uber to hundreds of millions more people; to invest even more in drivers, couriers and merchants; and to innovate across our core businesses and build the autonomous future.

“The changes we’re making today are designed to do two things: make Uber simpler and faster, and create more capacity to invest in our future. A leaner organization will mean clearer ownership, faster decisions, and more time spent building rather than coordinating. It will also generate savings that we intend to reinvest in growth, innovation, and the capabilities that will matter most over the coming years.

“It’s our job as leaders to make these difficult calls, and to give you transparency into our thinking and our decision-making process.”

The layoffs are the latest round of job cuts for Uber, which eliminated roles in customer service and HR earlier this year.

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Author of ‘Rich Dad Poor Dad’ Languishes in Billion Dollar Debt

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By Yusuf Danjuma Yunusa

Robert Kiyosaki, the author of the bestselling ’Rich Dad Poor Dad’ book, has accumulated an estimated $1.2 billion debt connected to his aggressive real estate investment.

According to reports, the debt is the estimated amount the 79-year-old author and his business partners borrowed to acquire approximately 1,500 property units as Mr Kiyosaki continues to expand his real estate holdings.

Despite the significant debt, Mr Kiyosaki does not appear apprehensive about the liabilities, maintaining that borrowing money to acquire income-generating assets is a strategy commonly used by wealthy individuals.

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“So, I’m a billion two in debt,” the author said on the ‘Get Rich Education’ podcast recently, adding that people “should not do what I do, right? But I studied it since 1974… If you’re going to learn to use debt, you’d better take some education.”

In a recent interview with Vanity Fair, Mr Kiyosaki’s ex-wife and business partner, Kim Kiyosaki, revealed that the debt did not reflect the amount her ex-husband personally owes.

She stressed that it is connected to the real estate properties owned by them and their business partners, adding that Mr Kiyosaki’s personal share of the liabilities is small.

Vanity Fair estimated Mr Kiyosaki’s share of the debt at around $30 million to $60 million.

“We have a lot of apartment houses with our partners. So technically, yes, we have all this debt,” the ex-wife told Vanity Fair.

Speaking to the magazine, Mr Kiyosaki stated, “If it all comes to hell, you can talk to my attorney. Firewalls—that’s the way the rich play the game.”

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Maulud: Best Choice Specialist Hospital Congratulates Kano Governor, Muslims Globally

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The Chairman of Best Choice Specialist Hospital, Kano, Auwal Lawal Muhammad (Dan Malikin Garo), has congratulated the executive governor of Kano State Alhaji Abba Kabir Yusuf, the good people of Kano State and Muslims across the world on the occasion of the Maulud celebration commemorating the birth of Prophet Muhammad (SAW).

In a statement he personally signed, Lawal commended Governor Abba Kabir Yusuf for his efforts towards fostering unity among the people of Kano State.

According to the statement, the chairman was amazed on how governor Yusuf placing emphasis on the development to the state particularly in matters concerning religion, saying such initiatives would help reduce divisions, promote mutual understanding and strengthen peaceful coexistence across the state.

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He urged Muslims to use the occasion of Maulud to strengthen their relationship with Allah through increased devotion and prayers for peace, stability and prosperity in Nigeria and Kano State.

The Chairman of Best Choice also praised the Governor for his efforts to improve the healthcare sector in the state.

He cited the renovation and upgrading of healthcare facilities, provision of modern medical equipment, as well as the training and development of healthcare workers as some of the administration’s efforts towards improving healthcare delivery in Kano.

Auwal Lawal further commended Governor Yusuf for his dedication, compassion and commitment to the wellbeing of the people, noting that his efforts continue to have a positive impact on the lives of residents across the state.

He prayed for continued peace, unity and prosperity in Kano State and Nigeria, while wishing the Governor and the people of Kano a blessed Maulud celebration now and beyond.

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