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Centre Advises Tinubu on How to Tame Soaring Inflation
Centre Advises Tinubu on How to Tame Soaring Inflation
By: Michael Mike
President Bola Tinubu has been advised to take a holistic approach at taming the soaring inflation in the country
A press statement on Tuesday by the Lead Director of the Centre for Social Justice, Eze Onyekpere said it has become imperative that Nigeria’s economic managers adopt a holistic approach to improving the economy/decelerate inflation.
Among the advised given for a leeway out of the present economic doldrums include “Increased productivity especially in the tradable and export-oriented sectors (including oil and gas as well as removing export trade barriers in the agriculture sector in the short run) can shore up our foreign exchange earnings which will improve the value for the Naira against major international currencies thereby limiting import induced inflation.
“Improving security of lives and property through the right political will that guarantee value for money in the provision of security services in Nigeria. It should be recalled that security has been given the highest budgetary allocations at the federal level in the last ten years. This will also improve agriculture’s contribution to the GDP and food production thereby limiting food inflation which has been the major driver of inflation over the last one year. Improved security will further lead to increased oil and gas production for export and local refining.
“Limit ways and means of funding of the federal budget to the statutory limit of not more than 5 percent of previous years’ actual revenue in accordance with S.38 of the Central Bank of Nigeria’s Act 2007.
“Implement a Nigeria First Local Content Policy in Federal and State Public Procurement to ensure that capital budget implementation do not put undue pressure on the Naira. Rather, capital budget implementation should create jobs, enhance local productivity and grow the economy, and
“Stop denying Nigerians access to their money, vis cash in banks as a means of mopping up what is considered excess liquidity. This is a fundamentally flawed measure for the reduction of inflation.”
Centre for Social Justice noted that rising prices is a symptom of the overall negative macroeconomic fundamentals and strong headwinds besetting the Nigerian economy, adding that beyond inflation, the Naira is losing value, poverty and unemployment is increasing; there have been massive factory closures, increasing insecurity and population growth figures that almost outpaced economic growth.
The Centre said that: “Furthermore, the short term and medium-term impact of economic reform measures (fuel subsidy removal and exchange rate unification) have not been properly articulated. The reforms were not accompanied by an evaluation/projection of their impact on the economy as well as countervailing measures necessary to limit their harsh effects on prices and other macroeconomic indicators.”
Centre Advises Tinubu on How to Tame Soaring Inflation
Police officer dies, 17 injured in auto crash along Potiskum–Bauchi road
By: Zagazola Makama
A senior police officer has died while 17 other passengers sustained injuries following a road accident along the Potiskum–Bauchi highway in Yobe State.
Sources said the crash occurred at about 3:15 p.m. on Feb. 21 near the bye-pass roundabout area of PKM on the outskirts of Potiskum.
The vehicle, a Toyota Hummer Bus belonging to Borno Express and conveying 18 passengers from Kaduna to Maiduguri, reportedly lost control after the rear tyre rim on the passenger side suddenly detached.
According to the sources , the driver veered off the road into a bush, resulting in fatal and multiple injuries.
One of the passengers, ACP Abubakar Ibrahim Balteh, 45, attached to the Borno State Police Command, sustained a severe head injury and died on the spot.
Two male and two female passengers escaped unhurt, while 13 others suffered serious injuries of varying degrees.
The injured victims and the deceased were evacuated to the General Hospital Potiskum for treatment and autopsy.
Police officer dies, 17 injured in auto crash along Potiskum–Bauchi road
Troops of Operation FANSAN YANMA humiliate Lakurawa terrorists
By: Zagazola Makama
Troops of Operation FANSAN YANMA have neutralised several of suspected Lakurawa terrorist elements following a failed attack on Dadinkowa community in Kebbi State.
Local intelligence sources said the armed group attempted to raid a local market in the early hours of Sunday and blocked a major access road into the community to facilitate the operation.
The sources disclosed that security forces responded swiftly after receiving distress alerts and engaged the attackers in a fierce gun battle, forcing them to retreat.
According to the sources, several of the assailants were neutralised during the encounter, while others escaped with suspected gunshot wounds.
The attempted market raid was successfully foiled, preventing potential civilian casualties and destruction of property.
Troops have since intensified patrols and clearance operations around Dadinkowa and adjoining areas to track fleeing elements and stabilise the security environment.
Troops of Operation FANSAN YANMA humiliate Lakurawa terrorists
One killed as suspected IPOB/ESN militants attack Ogbakoba Market in Anambra
By: Zagazola Makama
A 15-year-old boy was killed while security operatives repelled an attack by suspected members of the proscribed IPOB/ESN militia at Ogbakoba Market Arena in Anambra State.
Sources said the incident occurred on Feb. 21 at about 1:40 p.m., when a group of armed hoodlums emerged from a dense forest camp at Amiyi and opened sporadic fire at market-goers, apparently attempting to kidnap or rob residents.
A joint task force patrol team stationed at Amiyi responded swiftly, engaging the attackers in a fierce gun duel that forced them to retreat into the forest with bullet wounds. The injured boy was rushed to the village hospital but was confirmed dead on arrival. His body was deposited in the morgue for autopsy and preservation.
The sources added that later the same day at about 8:30 p.m., the armed group resurfaced near the community, snatching a shuttle bus with registration number HAL 987 XA and a GSM phone belonging to one Mr. Kinsley Iwunze of Okpotuno Odekpe, Ogbaru LGA.
Security operatives immediately dispatched teams to the scene, but the hoodlums had fled. Authorities said an aggressive manhunt was ongoing to apprehend the fleeing suspects.
One killed as suspected IPOB/ESN militants attack Ogbakoba Market in Anambra
Police officer dies, 17 injured in auto crash along Potiskum–Bauchi road
Troops of Operation FANSAN YANMA humiliate Lakurawa terrorists
One killed as suspected IPOB/ESN militants attack Ogbakoba Market in Anambra
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