Economy
Nigeria’s inflation drops to 17.93 percent
The Consumer Price Index (CPI) which measures inflation dropped to 17.93 per cent (year-on-year) in May compared to 18.12 per cent in the preceding month, according to the National Bureau of Statistics (NBS). The 0.19 per cent decline in the headline index, makes it the second consecutive month that the rate had sustained its downward trajectory after 18 months of inflationary pressures on the economy. According to the CPI figures for May which was released by the statistical agency Tuesday, food inflation dropped to 22.28 per cent from 22.72 per cent in April. Price moderation was recorded in bread, cereals, milk, cheese, eggs, fish, soft drinks, coffee, tea and cocoa, fruits, meat, oils and fats and vegetables. On month-on-month basis, the food sub-index declined to 1.05 per cent in May ...
Senate reassures Nigerians on PIB, electoral, constitutional amendment bills
Senate President Ahmad Ibrahim Lawan said on Friday that the Senate was closer to passing the Petroleum Industry Bill (PIB), the Electoral Act Amendment Bill, and the Constitution Amendment Bill, assuring Nigerians that the bills will be passed between now and July year. Lawan who stated this while interacting with journalists to mark the second anniversary of the 9th Senate stated that it was a mark of excellent effort that the ninth senate would soon be ready to pass the Petroleum Industry Bill (PIB) after twenty years of failed attempts. “This should happen this June, and it should increase accountability, probity, efficiency, equity and justice in that vital sector of our economy. “Our determination to pass the bill is additionally in line with our resolve to be a result-oriented parli...
Lagos governor asks security agencies to crush criminals
Lagos State Government has tightened the noose on criminal elements, as Governor Babajide Sanwo-Olu fortifies the armoury of the State Police Command with new hardware and gadgets. One hundred and fifty units of double cabin vehicles, 30 patrol saloon cars, four high-capacity troop carriers and two anti-riot water cannon vehicles are part of the crime-fighting equipment donated to the police, yesterday, by the Lagos Government to strengthen security responses across the state. President Muhammadu Buhari took inventory and inaugurated the security equipment before Governor Sanwo-Olu handed over the gears to the Inspector-General of Police (IG), Mr. Alkali Usman, for the use of Lagos Police Command. The equipment and gadgets were procured through the Lagos State Security Trust Fund (LSSTF) –...
Iran says nuclear talks policy won’t change after presidential vote
Iran’s policy in talks with world powers to revive the 2015 nuclear accord will remain unchanged after a June 18 presidential election because the issue is decided by its highest leadership, a government spokesman said on Tuesday. A host of barriers to the revival of the nuclear deal remain firmly in place ahead of talks due to resume this week, suggesting a return to compliance with the accord is still a way off, diplomats, Iranian officials and analysts said. “We have shown that we adhere to our international obligations under all circumstances, and this was a national decision,” cabinet spokesman Ali Rabiei told a weekly news conference. Rabiei said Iran’s nuclear policy, set by Supreme Leader Ayatollah Ali Khamenei, is not linked to internal developments and that the new government wou...
Lagos governor: Twitter should have an office in Nigeria to resolve issues
Lagos State Governor Babajide Sanwo Olu said if Twitter had an office in Nigeria, resolving the current Twitter ban initiated by the Buhari government would have been easier. The governor made the suggestion in an interview with Arise TV on Monday. Mr Sanwo-Olu noted that he cannot categorically say if the federal government’s action against Twitter is wrong or right because he does not have the same prognosis as the President and Commander in Chief. “I cannot sit down here with all of the responsibilities that I have and fly (sic) the commander in chief of the armed forces. Even had (sic) a prognosis and security information that I do not have. I cannot begin to say that was it done is right or wrong” he asserted. He alluded that the government had only suspended Twitter operations in Nig...
UN: 64% of married Nigerian women lack sexual, reproductive rights
The United Nations Fund for Population Affairs (UNFPA) has said that an estimated 64 per cent of married women in Nigeria are unable to enforce their sexual and reproductive health rights. It said that only about 46 per cent of married women in Nigeria between the age of 15 and 49 years are in a position to make personal decisions regarding their sexual and reproductive health rights. UNFPA said that whereas 56 per cent of the married women have decisions about their healthcare made mainly by their husbands, 33 per cent make such decisions jointly with their husbands. The world body, which issued a report on the state of bodily autonomy for women across the world, said only 56 per cent of married women in Nigeria can say no to their husbands if they do not want to have sexual intercourse. ...
Presidency: One million Nigerians benefitting from survival fund
The Presidency yesterday said that over one million Nigerians have so far benefitted from the Survival Fund scheme under the Federal Government’s Economic Sustainability Plan (ESP). The Presidency said there are 500,000 beneficiaries from the MSMEs Payroll support track, 44,500 under the one-off General MSME Grant, and another 265,425 under the artisan support track, among others. Recall that payment to new beneficiaries of the Payroll Support track and the one-time General MSME Grant had commenced at the end of April. A statement by the Senior Special Assistant to the President on Media and Publicity, Office of the Vice President, Mr Laolu Akande, in Abuja last night explained that so far, under the ESP there are currently over one million beneficiaries nationwide from the various schemes...
NCS: Nigerian government to inaugurates Funtua inland dry port November
The Minister of Transportation, Mr. Chibuike Rotimi Amaechi, will in November inaugurate the ongoing Funtua Inland Dry Port project in Sokoto State. Also the French government has indicated its interest in collaborating with its Nigerian counterpart and therefore hinted that it will assist the government in form of financial assistance to the sector. The Executive Secretary/CEO Nigerian Shipper’s Council (NSC), Mr. Hassan Bello, made this known Thursday in Abuja during a meeting between the Council, Concessionaires for the Inland Dry Ports and the French Embassy. NSC ES, while highlighting the successes so far recorded by the Council stated that the federal government thought it necessary to bring shipping closer to the people by establishing ports in the hinterland. Hassan told the audien...
SERAP urges President Buhari to tell Nigerians spending plan for James Ibori loot, others
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Muhammadu Buhari to “urgently direct Mrs Zainab Ahmed, Minister of Finance, Budget and National Planning to disclose spending details of the $700 million looted funds reportedly recovered by the Federal Government in the past four years, including the list and location of projects completed with the money, as well as details of the contractors that executed the projects.” SERAP also urged him to “direct Mrs Ahmed to disclose how the government plans to spend the returned £4.2m Ibori loot, including details of planned capital expenditure, and whether there is any plan to ensure that the money and any future returned Ibori loot would be spent to achieve justice and effective remedies for victims of corruption in...
Rivers government seeks relocation of NIMASA cabotage department
The Governor of Rivers State, Nyesom Wike, has appealed to the Nigerian Maritime Administration and Safety Agency (NIMASA) to return its Cabotage Services Department to Port Harcourt. Wike made the appeal when the Director-General of NIMASA, Dr. Bashir Jamoh, visited him in Port Harcourt, recently. Wike said operations of the Cabotage Services Department of NIMASA used to be in Port Harcourt, Rivers State, but it was relocated to Lagos. The governor said in spite of his administration’s procurement of gunboats for security agencies, especially the Police and Navy to assist in the fight against piracy and ensure safety on the waterways for NIMASA’s businesses to thrive, the state did not get anything in return. He commended Jamoh for the initiative aimed at harnessing ocean resources as an ...
House asks FCT councils to suspend illegal taxes on businesses
The House of Representatives has declared illegal, levies being imposed on businesses by area councils in the Federal Capital Territory, ordering the task forces to suspend their activities. A member of the House from Kogi State, Mr Tajudeen Yusuf, had moved a motion calling for the suspension at the plenary on Tuesday. It was titled ‘Investigation of Alleged illegal Levies by the Federal Capital Territory Area Councils on Business Outlets and Premises in the Area Councils.’ Yusuf said, “Business outlets and private enterprises have been under threats, intimidation, and coercion by task forces operating in the Federal Capital Territory area councils under different guises, forcing business owners to pay illegal levies which are not remitted into the government coffers but private pockets o...
Tunisia president wants debate on new political system, constitutional amendment
Tunisian President Kais Saied called on Tuesday for a dialogue with political parties on creating a new political system and amending the 2014 constitution, which he described as “with locks everywhere”, in an effort to ease the ongoing political crisis. Saied’s comments could pave the way for an end to a months-long political standoff with Prime Minister Hichem Mechichi, who is backed by parliament Speaker Rached Ghannouchi, leader of the moderate Islamist Ennahda party, over powers and political alliances. The Tunisian constitution, approved following the 2011 revolution, has been widely praised as a modernist constitution. But many politicians admit that it includes many controversial chapters and needs amendment. “Let us enter into a credible dialogue… to a new political system and a r...