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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
Army, DSS arrest notorious cultist, gunrunner in Cross River, recover weapons
By: Zagazola Makama
Troops of 13 Brigade, in collaboration with the Department of State Services (DSS), have arrested a suspected cultist and gunrunner during a raid operation in Ikom Local Government Area of Cross River State.
Security sources said the operation was carried out at about 1:10 a.m. on April 3 along Effangha Spring Road in Ikom.
The sources disclosed that the suspect, who hails from Khana Local Government Area of Rivers State, was apprehended during the coordinated raid.
According to the sources, troops recovered one revolver pistol, one sword, two laptops, four mobile phones, one digital camera, one wristwatch, three identity cards, and a sack of garri allegedly used to conceal the weapon.
The suspect and recovered items have since been handed over to the DSS for further investigation and possible prosecution.
Security authorities said the operation is part of ongoing efforts to curb cult-related violence and illegal arms circulation in the South-South region.
Army, DSS arrest notorious cultist, gunrunner in Cross River, recover weapons
Gunmen kill village head, wife in Adamawa, son hospitalised
By: Zagazola Makama
Unknown gunmen have killed a village head and his wife in Tunga Waja community, Lamurde Local Government Area of Adamawa State.
Security sources said the incident occurred at about 8:50 p.m. on April 2, when the assailants attacked the residence of the village head and opened fire on him, his wife and their son.
The sources disclosed that the village head died on the spot, while his wife and son sustained gunshot wounds and were evacuated to a medical facility in Tingno for treatment.
According to the sources, the wife later died at the hospital, while the son is currently receiving treatment.
The motive behind the attack remains unclear, while efforts are ongoing to identify and apprehend the perpetrators.
The incident has heightened concerns among residents, as security agencies intensify efforts to restore calm and prevent further attacks in the area.
Gunmen kill village head, wife in Adamawa, son hospitalised
Three soldiers injured in road accident during pursuit of bandits in Kaduna
By: Zagazola Makama
Three soldiers have sustained injuries following a road traffic accident during an encounter with suspected armed bandits in Birnin Gwari Local Government Area of Kaduna State.
Security sources said the incident occurred at about 3:00 p.m. on April 2, when troops of 2 Battalion deployed at Forward Operating Base Dogon Dawa were returning from an administrative patrol.
The sources explained that the troops reportedly sighted a group of armed bandits attempting to block the road at Ngede Allah and engaged them, forcing the criminals to flee.
During the pursuit, however, three soldiers fell off a military gun truck and sustained varying degrees of injuries, including fractures to the hand and leg.
The injured personnel were immediately evacuated to the 44 Nigerian Army Reference Hospital in Kaduna, where they are currently receiving treatment and responding positively.
Security operations in the area have continued as troops maintain pressure on criminal elements within the axis.
Three soldiers injured in road accident during pursuit of bandits in Kaduna
Man O’ War personnel reports abduction of female colleague in Bayelsa
Army, DSS arrest notorious cultist, gunrunner in Cross River, recover weapons
Gunmen kill village head, wife in Adamawa, son hospitalised
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