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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 nutrialised several Boko Haram terrorists in Yobe
By: Zagazola Makama
Troops of the Nigerian Army have nutrialised several Boko Haram terrorists after it successfully repelled a terrorist ambush along the Longlari–Kanama road in Yunusari Local Government Area of Yobe State.
Security sources said the incident occurred at about 5:23 p.m. on March 14 when troops of the 159 Battalion Nigerian Army, B Company, stationed in Kanama, were returning from a routine patrol.
.According to the sources, the troops were ambushed by suspected terrorists along the Longlari–Kanama road near Mairari village.
The troops engaged the terrorists with heavy fire and neutralized several of them forcing many of them fo flee.
Following the encounter, the soldiers conducted exploitation of the general area to track the fleeing insurgents.
Troops nutrialised several Boko Haram terrorists in Yobe
Zulum Condemns Maiduguri Explosion, Calls for Calm, Vigilance in Worship, Public Places
Borno State Governor, Professor Babagana Umara Zulum, has condemned in the strongest terms the explosion that occurred in some parts of the metropolis on Monday evening.
Zulum, who is currently in Saudi Arabia for the Lesser Hajj, described the attack as despicable, cruel, and cowardly, targeting innocent people in the holy month of Ramadan.
In a statement, the Special Adviser to the Governor on Media, Dauda Iliya, called for increased vigilance and heightened security measures, particularly in places of worship, as the festive period beckons.
“I am deeply saddened by the explosions that occurred in parts of the metropolis on Monday evening.
My thoughts and prayers are with the families of the victims and those injured as a result of the blast. The act is utterly condemnable, barbaric, and inhumane,” said Zulum.
He added, “The recent surge in attacks is not unconnected with intense military operations in the Sambisa forest and other hideouts of the insurgents.
The Governor, therefore, assured people of the state that the military and other security agencies are on top of the situation, as adequate measures have been taken to forestall any security breach in Maiduguri and the entire state.
He called on residents to remain calm, go about their usual activities, and report any suspicious movement or activity to security agencies.
Zulum Condemns Maiduguri Explosion, Calls for Calm, Vigilance in Worship, Public Places
GOC 8 Division visits troops in Kebbi, urges vigilance in operations
By: Zagazola Makama
The General Officer Commanding (GOC) 8 Division Nigerian Army and Commander Sector 2 of Operation Fansan Yamma, Maj. Gen. PB Koughna, has conducted a familiarisation visit to troops deployed in parts of Kebbi State.
During the visit on March 15, the GOC inspected troops of CSI Battalion III at the Forward Operating Base Dirin Daji in Sakaba area of Zuru Local Government Area, as well as personnel of 223 Light Tank Battalion in the state.
The GOC was received by the Commanding Officers of the units, who briefed him on their operational activities and security situation within their areas of responsibility.
Addressing the troops, Maj. Gen. Koughna urged them to remain vigilant, committed and professional in the discharge of their duties.
He also held an operational meeting with the unit commanders, during which issues relating to ongoing operations and prevailing security challenges within their areas of responsibility were discussed.
The visit ended without incident.
GOC 8 Division visits troops in Kebbi, urges vigilance in operations
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Troops nutrialised several Boko Haram terrorists in Yobe
Zulum Condemns Maiduguri Explosion, Calls for Calm, Vigilance in Worship, Public Places
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