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
Military
Mutiny: Presidential Guard Tightens Security Around Niger Presidency Amid Reports of Military Protest
Mutiny: Presidential Guard Tightens Security Around Niger Presidency Amid Reports of Military Protest
By Zagazola Makama
Security was significantly reinforced around Niger’s Presidential Palace in Niamey following reports of unrest involving elements of the country’s armed forces, security sources told Zagazola Makama.
According to multiple security sources, the heightened deployment of the Presidential Guard, supported by armoured vehicles around the Presidential Palace on the night of July 3 and into July 4, followed what was described as a limited protest by personnel of an armoured unit within the Niger Armed Forces (FAN).
The sources said some soldiers reportedly declined deployment to frontline positions in northern Tillabéri Region, particularly around Inatès and Chinagodrar, citing inadequate heavy equipment and insufficient operational resources to confront the growing security threats in the area.
The protest was described by one source as a “small mutiny,” although there has been no official confirmation from the Nigerien authorities.
Security sources said the development triggered concern within the country’s leadership, prompting the reinforcement of security around the Presidential Palace and temporary restrictions on movement in the surrounding area as a precautionary measure.
The Tillabéri Region remains one of Niger’s most volatile security zones, with recurrent attacks by armed extremist groups, including factions linked to the so-called Islamic State in the Greater Sahara (ISGS).
As of the time of filing this report, the Nigerien government and military authorities had not issued any official statement regarding the reported protest or the increased security presence around the Presidency.
The situation remains under close observation.
Mutiny: Presidential Guard Tightens Security Around Niger Presidency Amid Reports of Military Protest
Two suspected criminals arrested during patrol in Plateau
By: Zagazola Makama
Troops of Sector 1 under Operation Enduring Peace have arrested two suspected criminals during a routine patrol in Jos East Local Government Area of Plateau.
Security sources disclosed that the suspects, identified as Azi Ezekiel, 21, and Ajiji Emmanuel, 19, were apprehended at about 10:30 a.m. on Saturday along the road leading to Forbur Village.
The sources said the suspects were intercepted by troops of Sector 1, Sub-Sector 12, while conducting a routine patrol in the area.
According to the sources, the two suspects have been handed over to the Keystone Police Station in Forbur for further investigation and possible prosecution.
The arrest forms part of ongoing security operations aimed at combating criminal activities and enhancing safety across Plateau State.
Two suspected criminals arrested during patrol in Plateau
Troops arrest suspected kidnapper in Plateau community
By: Zagazola Makama
Troops of Sector 4 of Operation Enduring Peace have arrested a suspected kidnapper during a security operation in Barkin Ladi Local Government Area of Plateau.
Security sources said the suspect, identified as Mohamdu Surajo, 29, was arrested at about 6:45 p.m. on Friday at Sabon Layi Village following sustained security operations in the area.
The sources disclosed that the suspect is currently in military custody and is undergoing preliminary interrogation to aid ongoing investigations.
They added that the arrest is part of continued efforts by security forces to dismantle criminal networks and enhance security across Plateau State.
Troops arrest suspected kidnapper in Plateau community
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