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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
Troops rescue two kidnapped victims in Benue
By: Zagazola Makama
Troops of Sector 1 under Operation Whirl Stroke (OPWS) have rescued two kidnapped victims in Ukum Local Government Area of Benue State.
Security sources said the incident occurred at about 3:50 a.m. on April 15 when troops deployed at Kyado responded to a distress call on kidnapping activities in the area.
According to the sources, the troops swiftly moved to the scene, prompting the kidnappers to abandon their victims and flee.
The sources added that the troops successfully rescued the two victims and reunited them with their families.
Security operations have been intensified in the area to track down the fleeing suspects and prevent further incidents.
Troops rescue two kidnapped victims in Benue
Troops arrest bandit kingpin’s Deputy, wife in Gombe following intelligence operation
By: Zagazola Makama
Troops have arrested the second-in-command to a notorious bandit kingpin, Kachalla Auta, alongside his wife in Gombe State following an intelligence-led tracking operation across multiple locations.
Sources said the suspects, identified as Bala, popularly known as “Pakapaka,” and his wife, Zulaha Bala, were intercepted after fleeing from Dajin Madam Forest in Plateau State.
According to the sources, the arrests were the result of sustained intelligence surveillance and coordinated ground tracking by security operatives targeting fleeing members of the criminal network.
The suspects are currently in custody and undergoing interrogation to determine their level of involvement in the group’s activities and possible connections with other cells operating within and outside the region.
In a related development, troops conducted follow-up patrols around Bayar village in the Duguri axis after intelligence indicated that the main bandit kingpin had fled into the area.
However, no contact was made during the search operation.
Security sources said troops have continued to dominate the general area with sustained patrols aimed at denying criminal elements freedom of movement and disrupting their operational networks across Plateau, Taraba, and adjoining states.
Troops arrest bandit kingpin’s Deputy, wife in Gombe following intelligence operation
Troops rescue 12 kidnapped victims, arrest kingpin’s aides in Plateau–Taraba forest operations
By: Zagazola Makama
Troops conducting ongoing clearance operations under Operation Wutan Daji have rescued 12 kidnapped victims and arrested key associates of a fleeing bandit leader during coordinated offensives across forested areas linking Plateau and Taraba States.
A military source said the operations, carried out on April 15 and 16, involved troops of the 33 Artillery Brigade in conjunction with an Office of the National Security Adviser (ONSA) tactical team.
According to the source, the operations were conducted in the Dajin Madam and Kumbodoro forest axis, spanning parts of Plateau and Taraba States.
The source said the sustained offensive led to the recovery of 12 kidnapped victims who escaped from their captors during the pressure mounted by troops.
The victims were subsequently taken into custody for profiling before being moved to an Internally Displaced Persons facility in Fukuk.
Troops also recovered a Dane gun, a fabricated AK-47 rifle and a power bank during the operation.
Troops rescue 12 kidnapped victims, arrest kingpin’s aides in Plateau–Taraba forest operations
Troops rescue two kidnapped victims in Benue
Troops arrest suspected ammunition racketeer in Cross River
Troops arrest bandit kingpin’s Deputy, wife in Gombe following intelligence operation
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