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
News
Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA
Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA
By Zagazola Makama
Troops of the 1 Brigade of the Nigerian Army operating under Operation FANSAN YANMA have neutralised a suspected terrorist and recovered arms during an offensive operation in Shinkafi LGA.
Security sources told Zagazola Makama that the operation was carried out on March 13 by troops of CT 5, who launched a deliberate clearance mission targeting terrorist camps located at Tubali and Zangon Danmaka.
The sources said the operation followed credible intelligence on the presence of armed bandits and other criminal elements using the locations as operational hideouts.
During the operation at Tubali, troops made contact with the suspected terrorists and engaged them in a brief gun battle, forcing the criminals to flee into nearby forested areas.
“During the engagement, one terrorist was neutralised, while others escaped with possible gunshot wounds,” the source said.
Following the encounter, troops conducted exploitation of the area and recovered one AK-47 rifle, a magazine containing two rounds of 7.62mm special ammunition, and a motorcycle believed to belong to the fleeing terrorists.
The recovered items were secured by the troops while further search operations were carried out around the camp to ensure that no other threats remained in the vicinity.
The sources added that when troops advanced to Zangon Danmaka, no contact was made with terrorists as the suspects were believed to have fled the area ahead of the troop arrival.
However, troops maintained dominance in the general area while conducting further patrols and surveillance operations aimed at preventing the terrorists from regrouping.
Zamfara: Troops neutralise terrorist, recover arms in Shinkafi LGA
News
Troops arrest suspected ISWAP spy in Kanama, Yobe
Troops arrest suspected ISWAP spy in Kanama, Yobe
By Zagazola Makama
Troops of 159 Battalion in collaboration with members of the Civilian Joint Task Force have arrested a suspected spy linked to terrorists operating in the North-East in Kanamma Yobe state.
Security sources told Zagazola Makama that the suspect, identified as Malam Fantami, a native of Dikwa was apprehended during a security operation by troops deployed in the area.
The sources said the suspect was intercepted following credible intelligence indicating that he might be working as an informant for terrorists affiliated with the ISWAP.
According to the sources, items recovered from the suspect at the time of his arrest included a mobile phone, a smart watch, prayer beads, a motorcycle key, and a cash sum of ₦7,000.
Preliminary examination of the suspect’s mobile phone by security personnel reportedly revealed several suspicious materials, including photographs of motorcycles, large sums of cash, AK-47 rifles and other items believed to be linked to terrorist activities.
“The discovery of these materials has raised serious suspicion about the suspect’s role as a possible logistics informant or intelligence asset for insurgent elements operating in the region,” the source said.
The suspect is currently in military custody, where he is undergoing further interrogation to determine the extent of his involvement with terrorist networks and to identify possible collaborators.
The military high command said the arrest forms part of ongoing counter-terrorism efforts by troops in the North-East aimed at dismantling the intelligence and logistics networks that support insurgent operations.
Kanama, located in Yunusari Local Government Area of Yobe State near the border with Niger Republic, has remained an important corridor frequently exploited by insurgent groups for movement and supply activities.
Troops arrest suspected ISWAP spy in Kanama, Yobe
News
Troops repel ISWAP attack in Bita, Borno
Troops repel ISWAP attack in Bita, Borno
By: Zagazola Makama
Troops of Operation HADIN KAI successfully repelled an attack by terrorists suspected to be members of ISWAP in Bita area of Borno state following a fierce overnight encounter.
Security sources said the attack began at about 1:09 a.m. on Saturday, when the insurgents launched a coordinated assault on troops of the 26 Task Force Brigade deployed in the Bita axis.
According to the sources, the terrorists attempted to overwhelm the troops’ position but were met with stiff resistance from the soldiers who engaged them in a sustained gun battle.
“In a decisive and coordinated operation, gallant troops of Operation Hadin Kai launched a simultaneous land and air assault on terrorist positions in Bita in the early hours of today,” the source said.
The coordinated response involved ground troops engaging the insurgents while aerial support conducted precision strikes and surveillance over the battlefield, forcing the attackers to retreat.
The intense engagement compelled the terrorists to withdraw towards their enclaves after suffering heavy pressure from the combined land and air assault.
Following the withdrawal of the insurgents, troops immediately commenced exploitation operations to pursue fleeing elements of the terrorist group and prevent them from regrouping.
Troops repel ISWAP attack in Bita, Borno
-
News2 years agoRoger Federer’s Shock as DNA Results Reveal Myla and Charlene Are Not His Biological Children
-
Opinions4 years agoTHE PLIGHT OF FARIDA
-
News11 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
