News
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
Troops arrest suspected terrorist, recover rifle in Zamfara
By: Zagazola Makama
Troops of Operation FANSAN YAMMA have arrested a suspected terrorist and recovered an AK-47 rifle during a routine patrol in Gusau Local Government Area of Zamfara State.
Security sources said the arrest was made on April 3 at about 11:30 a.m. by troops of 1 Brigade Combat Team deployed at Forward Operating Base (FOB) Kurya.
The suspect was apprehended at Tungan Haki village and found in possession of one AK-47 rifle mounted with a magazine containing 13 rounds of 7.62mm special ammunition.
The sources disclosed that the suspect and the recovered weapon are currently in custody for further investigation and necessary action.
They added that troops have continued to intensify patrols and surveillance operations across the area to curb criminal activities.
Troops arrest suspected terrorist, recover rifle in Zamfara
IED explosion injures two security personnel during patrol in Anambra
By: Zagazola Makama
Two security personnel have been injured following the detonation of an improvised explosive device (IED) during a fighting patrol in Ihiala Local Government Area of Anambra State.
Security sources said the incident occurred on April 3 at about 12:30 p.m. when troops of Sector 5, Operation UDO KA, deployed at Forward Operating Base (FOB) Lilu, conducted a patrol alongside Nigeria Police personnel.
It was gathered that the team sighted the IED within the Lilu general area and attempted to destroy it.
However, the explosive device detonated during the process, injuring an Explosive Ordnance Disposal (EOD) personnel and a police officer.
The injured personnel were immediately administered first aid at the scene before being referred to a medical facility for further treatment.
Authorities said the situation has been brought under control, while operations continue in the area to ensure safety and prevent further incidents.
IED explosion injures two security personnel during patrol in Anambra
Troops neutralise two terrorists, destroy hideouts in Plateau clearance operations
By: Zagazola Makama
Troops of Operation Enduring Peace (OPEP), under Operation Wutan Daji, have neutralised two suspected terrorists and destroyed several hideouts during clearance operations in Wase Local Government Area of Plateau.
Security sources said the operations were carried out in conjunction with local vigilantes across Babangida, Adua and Bokayi villages within the Dutsen Zaki forest.
It was gathered that troops made contact with the terrorists along the Babangida–Adua road, leading to a gun battle in which two of the suspects were neutralised, while others fled with possible gunshot wounds.
No casualties were recorded among the troops, and all equipment was accounted for.
During the operation, troops recovered one locally fabricated gun, a belt containing 105 rounds of 7.62mm PKT ammunition, 30 rounds of 7.62mm special ammunition and a cutlass.
In a related development, troops of CSI Battalion XIV, in collaboration with 332 Artillery Regiment and vigilantes, conducted further clearance and raid operations in Dadin-Kowa and Dada villages.
The operation involved 47 soldiers and four vigilantes, supported with motorcycles, gun trucks, a Mine-Resistant Ambush Protected (MRAP) vehicle and an artillery gun.
The troops established a gun position and carried out fire missions on suspected terrorist locations in Madam Forest to deny them freedom of action.
Subsequent raid operations in Dadin-Kowa village led to the destruction of suspected terrorist hideouts, although no contact was made with the fleeing elements.
Troops neutralise two terrorists, destroy hideouts in Plateau clearance operations
Troops arrest suspected terrorist, recover rifle in Zamfara
Troops recover suspected rustled cattle in Plateau
Troops neutralise kidnapper, rescue victim in Enugu
Roger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
THE PLIGHT OF FARIDA
FAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years ago
THE PLIGHT OF FARIDA
-
News12 months agoFAILED COUP IN BURKINA FASO: HOW TRAORÉ NARROWLY ESCAPED ASSASSINATION PLOT AMID FOREIGN INTERFERENCE CLAIMS
-
News2 years agoEYN: Rev. Billi, Distortion of History, and The Living Tamarind Tree
-
Opinions4 years agoPOLICE CHARGE ROOMS, A MINTING PRESS
-
ACADEMICS2 years agoA History of Biu” (2015) and The Lingering Bura-Pabir Question (1)
-
Columns2 years agoArmy University Biu: There is certain interest, but certainly not from Borno.
-
Opinions2 years agoTinubu,Shettima: The epidemic of economic, insecurity in Nigeria
