Connect with us

News

IsDB Approves US$ 2.12 Billion for Development Projects in Member Countries

Published

on

Outgoing board members

The Board of Executive Directors of the Islamic Development Bank (IsDB), today, approved US$ 2.12 billion to finance new development projects in member countries.

Chaired by IsDB President and Group Chairman, H.E. Dr. Muhammad Al Jasser, the 353rd board meeting approved 16 projects that support socio-economic development and promote sustainability in member countries in key strategic sectors such as transport, energy, health and education, in addition to youth development/entrepreneurship-employment.

In his remarks, the IsDB President highlighted the significance of the approved projects, and their transformative impacts on improving transportation, health, education, and energy, as well as fostering regional economic integration.
Dr. Al Jasser told the Board members that IsDB is working to deepen the Sukuk (Islamic bonds) market to enable the Bank to finance more projects, be they green, sustainability, or ordinary Sukuk.

Top among the approvals is IsDB’s EUR 803.3 million (US$ 845.57 million) financing to Indonesia to contribute to “Strengthening Indonesia’s Health Care Referral Network Project”. The objective of the project is to enhance the physical and service capacity of the health referral system in Indonesia, ensuring that everyone has equal access to quality healthcare services in all districts, cities, and provinces.

The IsDB Board also approved financing of EUR 187.84 million (US$ 204.00 million) to Morocco for the “Construction of Guercif-Nador Highway Project” in the Kingdom of Morocco. The project aims to contribute to improving the connectivity of the Oriental region and the Nador West Med port complex by completing the construction 104 km of highway including 17 bridges and 53 flyovers by 2029.

Also, among the key approved projects are IsDB’s financing contribution of EUR 136.86 million (US$ 144.00 million) to Burkina Faso and US$ 106 Million to Uganda to improve the living environment of the populations and support the transport sector in the two beneficiary countries.

Advert

Additionally, the Board approved the following projects:

EUR 55 million (US$ 58.0 million) to the Republic of Mali to help enhancing the country’s electricity transmission grid via modernization and expanding of the high voltage transmission infrastructure;

Euro 64.30 million (US$ 70.0 million) for the Republic of Chad and EUR 25.24 million (US$ 27.13 million) to the Republic of Togo to support the higher education sector in these two African member countries.

US$ 16.90 million in slums Upgrading and Integrated Urban Development Project in Bouloas, Djibouti to improve the livelihoods of people living in slum areas through developing basic economic infrastructure.

US$ 79 million to improve access to affordable, resilient, and energy-efficient housing for the underserved population, as well as to support the Shariah mortgage development in the Kyrgyz Republic.

US$ 40.00 million to contribute towards supporting sustainable and green economic transformation of the Maldivian economy through improved access to Islamic finance while embracing social and environmental responsibilities.

US$ 200 million to deliver beneficiary‐driven, multi‐hazard resilient, reconstruction of core housing units to the populace affected by the 2022 floods in Sindh province in Pakistan.

US$27 million to improve the quality of life of the people living along the project road as well as contribute to the development of the international transit traffic potential of Tajikistan.

The IsDB Board approved US$ 300 million in financing for two projects for Türkiye earthquake-affected areas:

US$100 million to support the economic recovery of earthquake-affected industrial firms in various sectors and thereby contribute to enhancing the resilience of productivity and economic growth of the country.

US$ 200 million to support Türkiye’s efforts towards the rapid delivery of health facilities and services to improve the quality of life of the earthquake-affected population.

Furthermore, the IsDB Board reviewed several technical reports including the progress report of the IsDB Group Food Security Response Program (FSRP) which aims at supporting member countries in better averting the ongoing food crisis and further strengthening their resilience to future food security shocks. The Board was also updated on “Various Initiatives to Enhance IsDB’s Products and Services”.

News

KIRS seeks wider tax compliance to boost Kano revenue

Published

on

 

The Executive Chairman, Kano State Internal Revenue Service (KIRS), Alhaji Bashir Maitama has urged taxpayers to pay their taxes correctly and as when due.

Maitama made the call while speaking in Kano on Wednesday during the Customer Service Week of the service.

He said the celebration provided an opportunity for the agency to appreciate taxpayers for their contributions to the development of the state.

The chairman described taxpayers as important stakeholders whose contributions were valued by the agency and the state government.

Maitama said KIRS’ digital tax platforms had made tax payment easier, adding that the agency was committed to resolving challenges experienced by taxpayers.

He urged taxpayers facing difficulties with the platforms to contact the agency for prompt assistance.

Advert

On revenue performance, the chairman said KIRS had recorded significant improvement in its collections and expressed confidence that it would meet the revenue target set by the state government.

He said the agency would continue to promote voluntary compliance and expand the tax net by bringing more eligible taxpayers into the system.

“There are many people doing businesses who are not yet in the tax net. We want to ensure that more taxpayers are captured and encouraged to comply voluntarily,” he said.

The chairman explained that the digitization of KIRS operations was aimed at blocking revenue leakages, improving transparency and simplifying tax payment.

He said the agency would continue to adopt technology to improve efficiency, revenue collection and service delivery.

Maitama, therefore, urged taxpayers to fulfil their tax obligations promptly and correctly.

Earlier, The Executive Director, Revenue Operations, (KIRS), Kasim Ismael urged taxpayers to pay their taxes correctly and as when due, describing tax payment as essential to the development of the state.

He said taxes were an important source of revenue for the government to provide essential services, maintain institutions and promote peace and development.

The executive director also called for improved cooperation between the agency and taxpayers to strengthen compliance and revenue generation in the state.

Speaking also, Mr Michael Daniel, who spoke on behalf of the customers, said that taxpayers appreciated the efforts of KIRS in improving its services and strengthening its relationship with taxpayers.

He urged the agency to sustain its commitment to transparency, professionalism and efficient service delivery, saying improved customer service would encourage more people to comply with their tax obligations.

NAN

Continue Reading

News

Breaking:FG Offers 30 Day Fuel Subsidy To Nigerians

Published

on

The Federal Government has announced a 30-day discount on petrol sold through the Nigerian National Petroleum Company Limited (NNPCL), with public transport operators expected to receive priority under the arrangement.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, disclosed this on Thursday in Abuja during a briefing on petrol pricing and the Federal Government’s position on fuel subsidy.

Oyedele explained that the initiative should not be interpreted as a return to petrol subsidy, stressing that the government’s intention was to make the product available at cost for the period.

Advert

He said the measure would initially run for 30 days and would focus particularly on public transporters across the country.

“We are offering a discount on petrol dispensed by NNPC limited for the next 30 days in the first instance with priority for public transporters nationwide. So, it’s not a subsidy, government is just saying we sell to you at cost.”

The announcement comes amid renewed concerns over the rising cost of petrol and its impact on transportation and household expenses across the country.

The minister did not immediately provide further details on the size of the discount or the mechanism through which eligible public transport operators would access the benefit

Continue Reading

News

Waiya Urges Northern Appointees to Take Tinubu’s Renewed Hope Message to Grassroots

Published

on

 

Comrade Ibrahim Abdullahi Waiya, Co-Convener of the Nigeria Forward Project, has urged political appointees of President Bola Ahmed Tinubu from Northern Nigeria to take the message and achievements of the administration’s Renewed Hope Agenda to the grassroots.

Waiya made the call in a statement in which he said those entrusted with public responsibilities must communicate the policies and achievements of the Federal Government more effectively to citizens, particularly as the country approaches the 2027 general elections.

According to him, the call by the Secretary to the Government of the Federation, Senator George Akume, for ministers, special advisers, chairmen and chief executive officers of federal government agencies to improve communication of the administration’s achievements should be taken seriously by appointees across the country.

Waiya said Akume made the call at the Federal Appointees Strategic Summit in Abuja, where he reportedly urged government officials to communicate the impact of the administration’s policies and programmes to Nigerians more effectively.

He said the call had assumed greater political significance as political activities ahead of the 2027 presidential election intensify, with various groups and political leaders beginning grassroots mobilisation for President Tinubu.

Waiya noted that reports of heads of federal government agencies describing themselves as “foot soldiers of the Renewed Hope Agenda” demonstrated the growing mobilisation around the administration ahead of the 2027 elections.

Advert

He also referred to reports that Senator Akume had led North-Central political leaders in launching a grassroots mobilisation campaign for President Tinubu and Vice President Kashim Shettima, saying such activities should go beyond political mobilisation.

According to Waiya, the mobilisation should provide an opportunity for government officials and political leaders to explain to Nigerians how the Renewed Hope Agenda affects their daily lives and the development of their communities.

He urged Northern appointees of the Federal Government to communicate what he described as the positive reforms of the Tinubu administration, while presenting measurable achievements in areas such as infrastructure, institutional reforms, economic development and opportunities for citizens.

Waiya said the message should not be restricted to Abuja or other major cities, urging Northern appointees to take the administration’s message to markets, farms, businesses, universities, local communities and households across the region.

He stressed that the concerns and aspirations of ordinary Nigerians should remain central to any campaign for the administration, arguing that citizens would ultimately assess the government based on what they have experienced, seen and understood.

“The 2027 elections will ultimately belong to Nigerians. They will judge the administration by what they have seen, experienced and understood,” Waiya said.

He urged President Tinubu’s appointees not only to campaign for continuity but also to explain the reasons for seeking another mandate, defend the administration’s record with evidence and communicate its future plans clearly to the electorate.

Waiya said the Renewed Hope Agenda should be presented to Nigerians in a manner that enables citizens to understand the policies, programmes and reforms of the administration and their potential impact on communities.

He called on Northern appointees to intensify grassroots engagement, saying the message of the administration must reach people at the community level if it is to be properly understood.

“Now is the time to take the Renewed Hope message to the people. Let the story be told. Let the achievements speak. Let the vision be explained,” Waiya said.

He further urged government officials and supporters of the administration to demonstrate to Nigerians why they believe the Tinubu administration deserves another mandate in 2027.

“Renewed Hope must not remain a government slogan. It must become a story Nigerians can see and feel,” Waiya said.

The statement was signed by Waiya in his capacity as Co-Convener of the Nigeria Forward Project.

Continue Reading

Trending