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Dangote frowns at elite profligacy, says investment better than private jets, Rolls-Royce
Africa’s richest person and founder of Dangote Group, Aliko Dangote, has criticised wealthy Nigerians who prioritise Rolls-Royce vehicles and private jets instead of investing in industries for job creation.
Speaking with journalists on Friday, the industrialist said Nigeria cannot develop by depending on imports, arguing that importation “is importing poverty and exporting jobs”.
He questioned whether Nigeria can progress without building its own industries, saying the country must prioritise agriculture, industrialisation, and a strong banking system to support growth.
“If you have money for Rolls-Royce, you should go and put up an industry in your locality, or anywhere in part of Nigeria, wherever that you feel there is a need,” Dangote said.
“Everybody has a private jet. Those private jets should be in industries, so that we can create jobs.”
The billionaire said Nigeria must prepare for its rapidly growing population, noting that 8.7 million babies are born each year — a demand that will require massive investments in power, infrastructure, healthcare and schools.
The billionaire said companies must also fulfil their civic responsibility by paying taxes, describing the government as “the number one shareholder” in every business through the tax system.
“What we are looking for is that [the] government should give us an enabling environment to do this. We too, as corporate citizens, we must make sure that we pay our taxes. We must behave. So it is a partnership,” he said.
“If I pay tax, your children will be able to go to school. Your children will be able to go to [the] hospital. We don’t need to go to Cairo, London, or the US for medicals. We do it here.”
The group president also urged Nigeria to focus less on wooing foreign investors and more on strengthening policies that encourage domestic investment.
News
Benin Republic military coup fails as loyalists take control
A coup attempt by a section of the military in Benin Republic has been tatted by troops loyal to the President.
The Military had earlier on Sunday announced that they have overthrown President Patrice Talon, bylut his entourage said he was safe and the army was regaining control.
Soldiers calling themselves the “Military Committee for Refoundation” (CMR), said on state television that they had met and decided that “Mr Patrice Talon is removed from office as president of the republic”.
The announcement follows two coups in Madagascar and Guinea-Bissau in as many months. Benin is bordered in the north by Niger and Burkina Faso, which have also seen military takeovers.
The French Embassy said on X that “gunfire was reported at Camp Guezo” near the president’s official residence in the economic capital.
It urged French citizens to remain indoors for security.
Latest reports indicate that troop loyal to the President have put the situation under control while citizens are on the streets in solidary with their elected leader
News
Military announces take over govt of Benin Republic
The Military in Benin Republic on Sunday announced that they have overthrown President Patrice Talon, although his entourage said he was safe and the army was regaining control.
Soldiers calling themselves the “Military Committee for Refoundation” (CMR), said on state television that they had met and decided that “Mr Patrice Talon is removed from office as president of the republic”.
The announcement follows two coups in Madagascar and Guinea-Bissau in as many months. Benin is bordered in the north by Niger and Burkina Faso, which have also seen military takeovers.
The French Embassy said on X that “gunfire was reported at Camp Guezo” near the president’s official residence in the economic capital.
It urged French citizens to remain indoors for security.
But the president’s entourage said Talon, who has been president of the west African nation for 10 years and is due to step down in April, was safe.
“This is a small group of people who only control the television. The regular army is regaining control. The city and the country are completely secure,” his office told AFP.
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Insecurity: Nigerian Army places temporary ban on retirement
Determined to win the war against terrorism, banditry, kidnapping and other violent criminals acts, Nigerian Army has placed temporary ban on all statutory and voluntary retirements for certain categories of officers
President Bola Tinubu on November 26 declared a nationwide security emergency and directed the military, police, and intelligence agencies to expand recruitment and deploy thousands of additional personnel.
An internal memo dated December 3 and signed by Maj. Gen. E. I. Okoro on behalf of the Chief of Army Staff stated that the suspension of retirements was to retain manpower, experience, and operational capacity as the Armed Forces expand in response to rising insecurity.
The document, referencing the Harmonised Terms and Conditions of Service Officers (HTACOS) 2024, noted that although officers are ordinarily expected to retire upon reaching their age limit, completing 35 years in service, or after repeated promotion or conversion failures, service extension is permissible under Paragraph 3.10(e) in the interest of the military.
The memo partly read, “Military service of a commissioned officer entails a period of unbroken service in the AFN from the date of enlistment or commissioning to the date of retirement. The period of service is determined by conditions enshrined in the HTACOS Officers 2024. These include attainment of age ceilings on various ranks, 35 years maximum length of service, and other criteria provided in Paragraphs 11.02(d) and 17.15, among extant regulations.
“Notwithstanding these provisions, Chapter 3.10(e) of HTACOS Officers 2024 allows for extension of service to officers in the interest of the service.
“The President and Commander-in-Chief declared a nationwide security emergency on November 26, mandating the expansion of the AFN and other security agencies. In line with this, and to rapidly expand manpower, it has become expedient to temporarily suspend all statutory and voluntary retirements from the Nigerian Army with immediate effect.”
According to the circular, the temporary suspension applies to officers who fall into the following categories: officers who failed promotion examinations three times; officers passed over three times at promotion boards; officers who have reached the age ceiling for their ranks; officers who failed conversion boards three times; and officers who have attained 35 years of service.
The Army noted that affected officers may apply to continue serving beyond their normal retirement dates.
“Officers in these categories who are not interested in extension of service are to continue with the normal retirement procedure. Officers desirous of extension should note that upon extension, they are not eligible for career progression, including promotion, career courses, NA sponsorship, self-sponsored courses, secondment, or extra-regimental appointments,” the memo stated.
It directed all commanders to disseminate the directive and manage morale, adding that the policy would be reviewed as the security situation improves.
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