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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
Soldier killed, two injured as bandits ambush military vehicle in Katsina
By: Zagazola Makama
Armed bandits on Wednesday ambushed a military Armoured Personnel Carrier (APC) in Yadi forest, near Machika village in Sabuwa Local Government Area of Katsina State, killing one soldier and critically injuring two others.
It was gathered that the APC had developed a mechanical fault while on patrol before it was attacked at about 2:32 p.m.
Sources said hat the heavily armed bandits seized the opportunity to launch a coordinated assault on the stranded vehicle.
“In the course of the attack, one soldier was fatally shot while two others sustained life-threatening injuries. The injured personnel were immediately evacuated for medical attention,” the report noted.
Following the incident, a Nigerian Air Force fighter jet was deployed to the area for aerial support, while troops of Operation FANSAN YANMA cordoned off the forest in search of the attackers.
Security operations in the area are ongoing to track down and apprehend the perpetrators of the deadly ambush.
Soldier killed, two injured as bandits ambush military vehicle in Katsina
Mob kills suspected motorcycle thief in Gombe, police arrest four
By: Zagazola Makama
The Gombe State Police Command has confirmed the killing of a 22-year-old man by a mob in Kumo, Akko Local Government Area, over allegations of motorcycle theft.
Sources said the incident occurred around 9:30 a.m. on Tuesday, when the victim, identified as Daudu Ahmed of Sarkin Yaki Quarters, was attacked with machetes to the head and stomach by a group of youths accusing him of being a serial motorcycle thief.
The matter was reported to the Akko Divisional Police Station by the victim’s elder brother, Dahiru Ahmed, at about 10:15 a.m.
The Divisional Police Officer and his team responded swiftly and rushed the victim to the General Hospital, Kumo, where he was confirmed dead on arrival.
Four suspects were identified and two Babayo Musa and Zaidu Sani both of Jauro Musa Quarters were arrested. The others, identified only as Sulaiman and Usama, remain at large alongside other fleeing suspects.
During interrogation, the arrested suspects reportedly confessed that the deceased had been involved in motorcycle snatching and was a known threat in the area. Machetes used in the attack were recovered as evidence.
Sources said that case has been transferred to the State Criminal Investigation Department (SCID) for further investigation, while efforts are ongoing to apprehend the remaining suspects.
Mob kills suspected motorcycle thief in Gombe, police arrest four
Gunmen abduct two in Kwara Fulani camp, injure one
By: Zagazola Makama
Armed men have abducted two residents and injured another during an attack on Baba Ramo Fulani Camp near Isanlu Isin in Kwara State, the police have confirmed.
Zagazola gathered that the incident occurred at about 8:30 p.m. on Tuesday, Aug. 5, when the gunmen stormed the camp, shooting sporadically before whisking away two men identified as Ibrahim Nuhu and Musa Umar.
Sources said during the attack, one Opeyemi Ibrahim sustained a gunshot wound to his right thigh and was rushed to Adeyemi Hospital in Omu-Aran for urgent medical attention.
Following the incident, local hunters and vigilantes immediately launched a bush combing operation in an attempt to rescue the abductees.
During the search, the team recovered eight empty AK-47 bullet shells, a severed human thumb, a flashlight, and a blue Bajaj motorcycle with registration number KMA 185 VD. About 50 cows believed to have been abandoned by the attackers were also recovered.
All recovered items have been handed over to the police, and an investigation is currently ongoing to track down the abductors and secure the release of the victims.
Gunmen abduct two in Kwara Fulani camp, injure one
Soldier killed, two injured as bandits ambush military vehicle in Katsina
Mob kills suspected motorcycle thief in Gombe, police arrest four
Gunmen abduct two in Kwara Fulani camp, injure one
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