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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
News
U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation
U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation
By: Zagazola Makama
The United States has announced the elimination of Abu-Bilal al-Minuki, described as the second-in-command of the global Islamic State terrorist network, during a joint counterterrorism operation conducted with Nigerian security forces.
In a statement issued on Friday, Donald Trump said American forces, working alongside the Nigerian Armed Forces, carried out what he described as a “meticulously planned and very complex mission” targeting the terrorist leader.
According to Trump, Abu-Bilal al-Minuki had been operating from Africa and was considered one of the most active terrorist figures globally.
“Tonight, at my direction, brave American forces and the Armed Forces of Nigeria flawlessly executed a meticulously planned and very complex mission to eliminate the most active terrorist in the world from the battlefield,” Trump said.
He stated that the operation was enabled through intelligence sources that tracked the activities and movements of the ISIS commander.
Trump added that the removal of al-Minuki would significantly weaken the global operations of the terrorist group and reduce its capability to coordinate attacks, including plots targeting American interests.
He also thanked the Nigerian government for its cooperation and partnership in the operation.
“With his removal, ISIS’s global operation is greatly diminished. Thank you to the Government of Nigeria for your partnership on this operation,” he said.
Neither the U.S. nor Nigerian authorities immediately disclosed the exact location or operational details surrounding the mission.
The development marks one of the most significant counterterrorism operations involving U.S. and Nigerian forces in recent years against transnational terrorist elements linked to the Islamic State network.
U.S., Nigerian Forces Eliminate ISIS Second-in-Command in Joint Operation
News
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
By: Michael Mike
The government of Cuba has intensified accusations against the United States over the island’s worsening electricity and economic crisis, while cautiously welcoming reports of a proposed $100 million American aid package amid growing humanitarian concerns.
In separate statements issued this week, Cuban President Miguel Díaz-Canel and government officials argued that the country’s severe power shortages, fuel scarcity, and economic hardship are direct consequences of decades-long U.S. sanctions and what Havana described as an increasingly aggressive “energy blockade.”
The latest developments come as Cuba experiences one of its most difficult periods in recent years, marked by prolonged blackouts, shortages of food and medicine, rising inflation, and mounting public frustration.
Díaz-Canel said the situation affecting Cuba’s National Power System had become “especially tense,” with authorities forecasting a deficit of more than 2,000 megawatts during peak evening demand.
According to the Cuban leader, fuel shortages alone were responsible for preventing the generation of at least 1,100 megawatts of electricity, significantly worsening blackouts across the country.
He accused Washington of deliberately obstructing fuel supplies to Cuba by threatening sanctions and punitive measures against countries and companies willing to trade with Havana.
“This dramatic worsening has a single cause: the genocidal energy blockade that the U.S. has imposed on our country,” Díaz-Canel declared.
The Cuban president argued that recent improvements in electricity supply during April demonstrated the direct relationship between fuel imports and power generation capacity.
He noted that the arrival of a single fuel tanker — out of the eight Cuba reportedly requires monthly — temporarily reduced electricity deficits and mitigated blackouts, though outages did not disappear entirely.
Díaz-Canel further accused sections of the U.S. media and political establishment of attempting to portray Cuba’s economic crisis as solely the result of government mismanagement while ignoring the impact of sanctions and economic restrictions.
According to him, neither the decades-old U.S. embargo nor the additional sanctions imposed during the administration of former President Donald Trump had succeeded in overthrowing the Cuban Revolution.
He alleged that more recent executive measures targeting fuel supplies, foreign trade, and investment in Cuba were specifically designed to increase suffering among ordinary citizens and provoke unrest against the government.
Despite the criticism, Havana has also reacted cautiously to reports that the United States Department of State had formally proposed an aid package valued at $100 million for Cuba.
In a separate government statement, Cuban authorities said it remained unclear whether the proposed assistance would come in the form of direct financial support or material aid such as fuel, food, or medicine.
The Cuban government said it was prepared to consider foreign aid offered in good faith and expressed openness to working with the Catholic Church in implementing humanitarian support efforts.
“We are willing to hear the details of the offer and how it would be implemented,” the statement said, while warning against any attempt to use humanitarian assistance for political leverage.
Havana maintained that the most meaningful support Washington could provide would be the easing of economic, commercial, financial, and energy restrictions imposed on the island.
Cuban officials argued that sanctions had intensified “as never before” in recent months, severely affecting nearly every sector of the economy and worsening living conditions for millions of citizens.
The latest exchange reflects the complicated and often confrontational relationship between Havana and Washington, which has remained strained for more than six decades despite intermittent attempts at diplomatic rapprochement.
While Cuba insists that U.S. sanctions are the central driver of its current crisis, critics of the Cuban government continue to point to structural inefficiencies, state control of the economy, and policy failures as major contributors to the country’s prolonged economic difficulties.
Nevertheless, the apparent willingness of both sides to discuss humanitarian assistance suggests a potentially significant, though cautious, opening for limited engagement amid escalating hardship on the island.
Cuba Blames U.S. Sanctions for Deepening Energy Crisis, Responds Cautiously to Reported $100m Aid Offer
News
Troops Arrest Suspected Gunrunner in Taraba State
Troops Arrest Suspected Gunrunner in Taraba State
By: Zagazola Makama
Troops of Operation Whirl Stroke (OPWS), in collaboration with Defence Intelligence Agency operatives and local vigilantes, have arrested a suspected gunrunner in Ardo-Kola Local Government Area of Taraba State.
Security sources said the arrest was made at about 7:45 a.m. on May 13 during an intelligence-led operation at Iware community in the area.
The suspect was reportedly apprehended following credible intelligence linking him to arms trafficking activities within the Amaseyo general area.
Preliminary interrogation revealed that the suspect was allegedly involved in illegal arms dealing, prompting his immediate arrest by the joint security team.
The suspect is currently in custody and undergoing further investigation, while security agencies say efforts are ongoing to dismantle arms trafficking networks operating within the state and surrounding areas.
Troops Arrest Suspected Gunrunner in Taraba State
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