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Instablog9ja
24 m
15
The United Nations Children’s Fund (UNICEF) has expressed concern that Nigeria has the largest number of out-of-school children globally, with only 63 percent of primary school children regularly attending school.
The UN agency also lamented that a staggering 10.2 million primary school-age children and an additional 8.1 million at the junior secondary level are out of school in Nigeria.
This was stated by the Chief of Field Office, Bauchi UNICEF Field Office, Dr Tushar Rane in a Goodwill message during a 2-day Regional Stakeholders Engagement Meeting on the Out-of-School Children and the Retention, Transition and Completion Models in Bauchi, Gombe and Adamawa states.
UNICEF further expressed deep concern with the rate of out-of-school children, and low learning achievement in the country, especially in the North-East and North-West sub-regions Citing Multiple Indicator Cluster Survey 2021, Rane said only 84 percent of children effectively transition to junior secondary education after primary school completion. He added that, “Less than 50 percent – about 2.4 million – of the 5.9 million children who commence Primary Grade 1 annually in Nigeria persist to the conclusion of Junior Secondary Grade 3.
An analysis of the MICS reports between 2011 and 2021 shows an increase in dropout rates across all genders at the primary level especially in the northern part of the country. Specifically, the primary-level dropout rate rose from 1% in 2011 to 5% in 2021.
A similar upward trend is noticeable when considering wealth quintiles. For students belonging to the poorest wealth quintile, the primary-level dropout rate increased from 2% in 2011 to 6% in 2021. Among students in the richest wealth quintile, the dropout rate also showed an increase, rising from 1% in 2011 to 4% in 2021.
This consistent pattern suggests that, compared to a decade ago, the education system in Nigeria faces challenges in retaining students and ensuring their continued education across all the regions and the problem persists in the North-East and North-West ” he said.
Tushar Rane assured that in collaboration with the Universal Basic Education Commission (UBEC), “We have developed the “National Framework of Action to Reduce the Number of Out-of. School Children in Nigeria” and the “Retention, Transition, and Completion Model” which ensures inclusive and equitable quality education and promotes lifelong learning opportunities for all.”
Investopedia hh 24 m 15
Interactive Brokers Group Inc. (IBKR) is an automated global electronic broker providing execution, clearance, and settlement services for institutional and individual customers. The company uses proprietary technology to allow customers to monitor and trade in 33 countries around the world simultaneously, at a low cost, from a single trading account.
Interactive Brokers’ roots go back to 1978, and the company was incorporated as a U.S. broker-dealer in 1993. The company has grown to have about $466 billion of client equity and is a full-service brokerage.
Interactive Brokers makes available every exchange-traded fund (ETF) that is publicly traded on a major exchange, as well as more than 48,000 mutual funds. The company does not have its own family of funds. Additionally, Interactive Brokers provides access to stocks, options, futures, foreign exchange instruments, bonds, metals, and cryptocurrencies.
Investors in the United States have access to several tax-advantaged saving plans offered by a broad range of other financial services companies, including 401(k)s, individual retirement accounts (IRAs), and Roth IRAs.
The main difference between a Roth IRA and a traditional IRA is that the former is funded with after-tax dollars. This means that contributions to Roth IRAs are not tax deductible, where they are with traditional IRAs. But unlike a traditional IRA, where withdrawn funds are taxed, a Roth IRA allows investors to withdraw funds tax free.
All data in the bullet point lists for each fund below are as of March 31, 2022, unless otherwise indicated.
VTI is an ETF that aims to track the performance of the CRSP U.S. Total Market Index, an index composed of thousands of stocks across the market capitalization spectrum and that represents approximately 100% of the U.S. investable equity market. The fund provides broad, diversified exposure to the U.S. equity market.
VTI is managed by Gerard C. O’Reilly and Walter Nejman. O’Reilly has advised the fund since 2001 and Nejman since 2016.
Of the ETF’s 4,076 holdings as of Jul. 31, 2022, 69.5% are large-cap stocks, 4% are somewhere between midcap and large cap, 13.2% are midcap, 6% are between small cap and midcap, and 7.2% are small cap. The average market cap for each stock in the fund is $481.5 billion.
VTI has the widest range of exposure to stocks of various market caps compared to similar broad-based ETFs at its price point. A single broad stock fund is normally sufficient for most investors looking to build a long-term portfolio for retirement.
A total stock market fund, like VTI, is preferable to an S&P 500 index fund because it offers greater diversification by providing exposure to small-cap and midcap stocks in addition to large caps. The iShares Core S&P Total U.S. Stock Market ETF (ITOT) and the Schwab U.S. Broad Market ETF (SCHB) are also inexpensive alternatives.
Investors who want to invest in a specific small-cap or midcap fund to complement a fund tracking the S&P 500 index might consider these large-cap ETFs, all of which are large-cap funds:
A broad-based equity fund like VTI carries a certain degree of risk, but it also provides investors with fairly strong growth opportunities. For many investors, this ETF may act as the foundation of a well-diversified investment portfolio. However, for those with a very low risk tolerance or who are approaching retirement, a more income-oriented portfolio may be a better option.
BKAG is a passively managed ETF that aims to track the performance of the Bloomberg Barclays U.S. Aggregate Total Return Index, a broad-based benchmark that gauges the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market. The fund provides investors with broad exposure to the overall U.S. bond market.
BKAG has a 0 percent expense ratio. It is managed by Nancy G. Rogers and Gregory A. Lee, both of whom have advised the fund since 2020.
Of the fund’s 2,415 holdings as of Jul.31, 2022, 40.4% are Treasurys, and 27.8% are agency fixed-rate bonds. The remaining roughly 32% of holdings are bonds or other debt securities issued by entities operating in market sectors including banking, consumer noncyclical, communications, and technology.
Broad-based bond or fixed-income funds are generally less risky than equity funds. However, bond funds don’t provide the same growth potential, which means generally lower returns. They can be useful tools both for risk-averse investors and as part of a portfolio diversification strategy. Consistent with modern portfolio theory, risk-averse investors will find that investing in both a broad-based bond fund and a broad-based equity fund provides diversification. It is an approach that tends to maximize returns while minimizing risks.
Traditional wisdom suggests that that the precise mix of stocks and bonds in a long-term portfolio should follow the 60/40 rule—60% stocks and 40% bonds—and that the proportion of stocks to bonds should shrink as the investor ages. But conventional wisdom has changed, and many financial advisors and prominent investors, including Warren Buffett, now recommend that holding a higher percentage of stocks throughout an investor’s career can greatly enhance potential returns while only marginally increasing the risks.
Investors should always consider their own financial needs and appetite for risk before making any investment decision.
There are no custodian or termination fees associated with any individual retirement accounts (IRAs) provided by Interactive Brokers.
Yes. It’s possible to move an IRA from another brokerage or service to Interactive Brokers. This process is known as a rollover. Rollovers can typically be done without a tax penalty. If the originating account is a Roth IRA, then the new account also must be a Roth IRA.
Yes. By definition, IRAs are allowed to carry futures and option contracts. IRAs may not carry short stock positions and may not hold a debit cash balance.
A Roth IRA offers investors certain tax advantages. Roth IRAs are unique in that they are funded with after-tax dollars and are not taxed when the funds are withdrawn at a later date.
In short, funds invested in a Roth IRA can grow tax-free. After opening a Roth IRA, the types of investments chosen will depend on the individual investor’s risk tolerance and how much time and energy they have to research various investments.
For investors with little time and energy, one option is to go with a few large and diversified funds, allocating part of their money to a broad-based stock fund and another part to a broad-based bond fund. These large, diversified funds also may create a solid foundation for many investors who do have the extra time and energy to evaluate other, sometimes riskier, investment options involving investments in individual companies or specific niches of the market, such as small-cap stocks.
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Investopedia
1 h
10
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Shares of Uber Technologies (UBER) are sinking while those of rival Lyft (LYFT) are jumping after the ride-hailing firms posted quarterly results; Reddit (RDDT) shares are soaring after the social media firm's first results since going public showed record user traffic; shares of AB InBev (BUD) are rising as the brewing giant notches higher sales even as the U.S. boycott of Bud Light continues to weigh; Microsoft (MSFT) is investing $3.3 billion in a new data center focused on artificial intelligence (AI) in Wisconsin; and strong cloud demand from AI applications is lifting shares of Arista Networks (ANET). U.S. stock futures are little changed. Here’s what investors need to know today.
Uber Technologies (UBER) shares are tumbling nearly 6% in premarket trading after the ridesharing company unexpectedly reported a loss, weighed down by legal settlements and a revaluation of its equity investments. Uber posted a $654 million loss in the three months through March, versus the $477.2 million profit expected by analysts surveyed by Visible Alpha. Revenue for the quarter of $10.1 billion was in line with estimates. First-quarter gross bookings, which includes ride hails and delivery orders, rose 20% from a year earlier to $37.7 billion, and the company projected that bookings this quarter will range from $38.75 billion to $40.25 billion. Meanwhile, rival Lyft’s (LYFT) cost-cutting drives led to a narrowing of its loss to $31.5 million from $187.6 million a year ago. Lyft shares are up more than 5% premarket.
Reddit (RDDT) shares are soaring about 12% in premarket trading after the social media company reported record user traffic and rising revenue in its first quarterly earnings report since its initial public offering (IPO) in March. Reddit Chief Executive Officer (CEO) Steve Huffman said that the data licensing business is "still early in its monetization journey," after the company had indicated in its IPO filing that licensing its data for AI training would represent a key source of opportunity. The company has already announced a licensing agreement with Alphabet's (GOOGL) Google and reported it also "signed licensing agreements with various companies in the social listening space."
American depositary receipts (ADRs) of Anheuser-Busch InBev (BUD) are rising nearly 5% in premarket trading after the Belgian brewer reported a higher-than-forecast 2.6% gain in revenue even as the year-long boycott of its Bud Light brand continued to weigh on volumes. The company, whose brands also include Corona and Stella Artois, posted an 11.1% drop in volumes sold of its own brands in North America largely due to sales declines of Bud Light, it said. The brand lost its top spot as the best-selling beer in America last year, and was hit after a boycott following its partnership with transgender influencer Dylan Mulvaney.
Microsoft (MSFT) is investing $3.3 billion in a new data center focused on artificial intelligence in Wisconsin, the White House said Wednesday, ahead of President Biden’s visit there to announce the deal. The site will create 2,300 construction jobs and eventually as many as 2,000 data center jobs, and will be on the land left vacant by Apple (AAPL) iPhone assembler Foxconn’s “failed investment in Racine County,” the White House said. The Taiwanese firm Foxconn has largely abandoned a $10 billion investment in the site.
Shares of Arista Networks (ANET) are surging more than 6% in premarket trading after the cloud-networking giant issued a trifecta of upbeat news—an earnings beat, better-than-expected current-quarter outlook, and a big share buyback program amid strong cloud demand from artificial intelligence (AI) applications. Arista, whose clients include tech giants Microsoft (MSFT) and Meta Platforms (META), continues to benefit from insatiable demand for cloud AI networking solutions, such as Ethernet switches and routers, that connect cloud and data center infrastructure which powers the technology.
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Legit
3 hrs
10
Following reports that the cooking gas dealers crashed the price of 12.5kg of gas to N10,000, Nigerians have been sharing their experiences.
A Nigerian man on Facebook, Jfr Chasideho, announced the news on his page, eliciting reactions from his followers.
Lady shares gas price in her area
Upon seeing the post by Chasideho, Nigerians stormed his comments section to reveal the varying prices of refilling gas in their area.
A Nigerian lady, Kemi Bababusuyi, who claimed to have refilled 12.5kg of gas, reacted to his post, stating that she was charged N12,500.
“It is 12500 in my area. As at today,” she said.Adewale Salami reacted:
"12k few hours ago here in ota."Netizens disputed the reduction of price in refilling 12.5kg of gas to N10,000 as everyone claimed to have used cash within the range of N12,000 to N15,000.
Reactions trail news about price of gas
The comments section was flooded with reactions from netizens who shared their experiences.
Theophilus Alechenu said:
“Audio reduction, far north 1kg is been sold at 1350.”Dolly Owa reacted:
“I bought on Friday for 15k.”Okoroafor Vincent reacted:
“I bought for #14,500.”Stanley Okoronkwo said:
“Dey play.”Olorundajo Segun said:
“I pray it will be so.”Eric Ilalokhoin said:
“12k at gas land at lgando.”Gbenga Osisanya said:
“For where sir? I still bought over the weekend 14000.”Sani Idris said:
“On Facebook street market | guess.”Kemi Bababusuyi reacted:
“It is 12500 in my area. As at today.”Lauretta Egboh said:
“Are you serious??”Olusegun Razak said:
“It was N3600 this time last year.”Seun Olota reacted:
“It used to be N6,000. Na to check well because Nigerian sellers no want anything to go down excess profit is the curse on them all. The reason to check well is to be sure the content is the right measure.”See the post below:
Nigerian lady opens gas shop for herself
Meanwhile, Legit.ng previously reported that a Nigerian lady made a short video that captured the makeshift business centre she recently opened.
Made with planks, there were gas cylinders in the place to show that she would be selling to people from the place.
Source: Legit.ng
Instablog9ja
3 hrs
15
A Mother-of-three has cried out that her husband sold their house and her car, emptied her bank account, and left her with over N9 million in debts.
She said after this she relocated to Lagos to start life afresh but last night she was r%bbed inside a one chance vehicle and all she had in her account was taken.
She does not know how to start life again and she needed help for her children.
Click to watch
Instablog9ja
4 hrs
9
Reno Omokri has educate Nigerians, has he revealed that the 0.5% Cybersecurity levy is for your own good.
This Cybersecurity Levy is not a policy or regulation of the Tinubu administration. Those bandying that claim are either ignorant or dishonest. This is a policy that has existed since 2015. Like many things in the Buhari administration, it was implemented in breach, which is why Cyber Security suffered under that unfortunate administration.
The reason why Binance was able to siphon $25 billion, which represents 6% of our GDP, out of Nigeria in just one year is because our cybersecurity architecture is porous. And as long as it is vulnerable, the Naira cannot be stable. And if the Naira is not stable, your purchasing power as a Nigerian will reduce drastically
Therefore, it is more profitable for you to pay a 0.5% cybersecurity levy and secure the Naira from all thr£ats, foreign and domestic, than for you to resist the policy, and the Naira goes into free fall.
Not all monetary transactions are affected. Social welfare schemes, such as the grant to nano entrepreneurs and any other social intervention program, are exempt, as are charitable donations, and tuition payments. Salaries, loans and their repayments, transfers between customers, and intra-bank transfers from one of your accounts to another account you have in a different bank are also exempt.
If the office of the National Security Adviser does not have a solid and dedicated team working to protect Nigeria’s military, industrial, financial, communications, educational and governmental online space from thrOats, the cost to you, personally, would be more than the 0.5% levy on your transactions, and I will give you an example.
If Binance had not been found out, and they had continued to funnel $25 billion out of Nigeria, that singular action would have meant that our Gross Domestic Product (the sum of all the wealth in Nigeria) would have dropped further by 6.5%.
Now, If Nigeria’s GDP tanks by 6.5% at a go, global ratings agencies like Fitch, Moody’s, Standard and Poor, and others that have recently upgraded our economy to a B Positive, woulddowngrade us. Once we get downgraded, international investors will not want to invest their money in Nigeria, and the demand for made-in-Nigital goods and services will fall, meaning that the exchange rate will go down.
Remember MMM? The reason the Mavrodian Mondial Moneybox were able to dupe hundreds of thousands of Nigerians of close to half a billion dollars is because of our weak cybersecurity system.
And these international carpetbaggers can smell such weakness the way sharks smell bl££d. When you are bl££ding, a predator does not feel sympathy towards you. They see your rupture as an opportunity.
That is why after MMM d¥ped Nigerians, other Ponzi schemes flooded Nigeria and amassed more daily regular traffic than the best read newspapers in Nigeria, including Ultimate Cycler, Zarfund, Givers Forum, Crowd Rising, Charity, to mention a few. They all came, they saw, and they d¥ped Nigerians.
When the cat’s away, the mice will play. Without adequate cybersecurity in Nigeria, opportunists, like Binance and MMM, would continue to fleece Nigeria and Nigeria off billions and put negative pressure on our Naira, which will reduce your purchasing power as a citizen.
There are arguments this levy would reduce financial inclusion. But in all honesty, people are more likely to bank their money if they know that Nigeruw’s cyberspace is safe from cybercriminals and the Dark Web than if they feel that our regulatory regimes are weak.
Obviously, politicians like Peter Obi, whom the International Consortium of Investigative Journalists fing£red for money laundering in their Pandora Papers, would be against such a laudable policy. But that is expected. The fly would always support the dustbin and its ability to cause the decay of life, over the refrigerator.
