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 Celebrities › A War Of Words Over Music Style- Flavor And Kcee Fight Over Copying Music by CAkpos(op): 1:03pm On Oct 29, 2024 |
Nigerian music stars KCee and Flavour are currently in a heated exchange on social media, and fans can’t get enough of the drama. It all started when Flavour appeared to throw shade at KCee, calling him a “copycat.” KCee didn’t let it slide and fired back with some strong words of his own. Here’s how it all began: Flavour, famous for his unique Igbo Highlife sound, posted a cryptic message on X (formerly Twitter) about an artist copying his style, though he didn’t mention names. Coincidentally, KCee had just announced his latest single, Netfliss, and shared a preview of the music video. https://x.com/2niteFlavour/status/1850182063015514188 Fans were quick to notice that KCee’s new song had a similar vibe to Doings, a hit track by Flavour and Phyno. This fueled speculation that Flavour’s post was directed at KCee. Just two days later, KCee responded with a series of tweets, making it clear he wasn’t happy with the shade. He told Flavour they weren’t on the same level and advised him to “choose his battles wisely.” KCee also dismissed Flavour’s claim of being the “gatekeeper” of Igbo culture, saying he has been in the music industry for a long time and will continue to honor his heritage without apology. https://x.com/iam_kcee/status/1850966960865214792 The online exchange quickly went viral, and fans eagerly joined the conversation. Although neither artist mentioned the other’s name directly, followers couldn’t help but connect the dots, concluding that the two were definitely throwing shade at each other. These two used to have a song together.
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| Politics › Nigeria Military Elites Armed Robbed The Economy by CAkpos(op): 12:56pm On Oct 29, 2024 |
If many talented Africans, especially Nigerians excel in Europe and the United States, why can’t they use the same expertise to develop their individual countries? Corruption in high places is not unique to Africa. The fact is, there are more talented Africans at home outside the Military. But the temptations they ignore in foreign countries are embraced in Africa. They know Deterrence makes postal boys out of successful Blacks abroad. In Africa, most can kill or buyout deterrents. Since the interventions by military rulers, most African countries have never recovered from the trauma of armed robbery. It is not a coincidence that ethnic conflicts escalated into armed and full-blown civil wars. Militricians claim they returned democracy to their country when they either become civilian Presidents or pick their cronies to rule. Soldiers are trained to defend their country from external or uncontrollable internal aggression, not trained in the political economy. African military men, as the sacred cows, have replaced the colonialists: looting Africa with impunity. They inherited a colonial enabling environment. They are so powerful and unmoved, most civilian Presidents watch their backs. Only a few argue with guns, no matter how many times we condemn it. Otherwise, the so-called bloody civilians risk displacement. The overthrow and ugly humiliation of Lumumba in Congo still crawls the blood of most decent human beings. The only way the military rulers could be replaced is through a palace coup like what Nzeogwu did in Nigeria and what Rawlings did in Ghana. Take a look at Niger, Mali, Sudan, Burkina Faso and Guinea. There is nothing they all promised that had not been promised by past Military leaders. They are all intoxicated by power. Even the ones with idealistic motives at the beginning of their reigns become too comfortable after enjoying the regalia of office. Full Content in the links: https://thenews-chronicle.com/enabling-environment-military-elites-armed-robbed-the-economy/ Get the latest news as they unfold [url]thenews-chronicle.com[/url]
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| Crime › Nigerian Police Uncover Kidnappers’ Hideout In Abuja, Arrest Four Suspects by CAkpos(op): 11:17am On Oct 03, 2024 |
Operatives of the Federal Capital Territory (FCT) Command of the Nigeria Police Force have uncovered a kidnappers’ hideout in the Sauka area, located along the Airport Road in Abuja, the operation led to the arrest of four suspected kidnappers, including an ex-convict.https://m.lindaikejisblog.com/index.php/2024/10/police-arrests-four-notorious-kidnappers-in-fct.html 7 Likes 1 Share
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| Politics › Re: ASUU Threatens Strike, Gives FG 14-day Ultimatum by CAkpos(op): 2:05pm On Sep 25, 2024 |
Why una no wait till October 1st get update here https://thenews-chronicle.com/ASUU-threatens-strike-gives-fg-14-day-ultimatum/ |
| Politics › ASUU Threatens Strike, Gives FG 14-day Ultimatum by CAkpos(op): 2:03pm On Sep 25, 2024 |
The Academic Staff Union of Universities has issued a 14-day strike warning ultimatum to the Federal Government to address some protracted issues dating as far back as 2009. In a statement issued on Wednesday, September 25, ASUU President, Emmanuel Osodeke, noted that the academic union is seeking the conclusion of the renegotiation of the 2009 FGN/ASUU Agreement based on the Nimi Briggs Committee’s Draft Agreement of 2021. The Union also demanded the release of withheld salaries following the 2022 strike action, and expressed frustration with the government’s lack of commitment and delay tactics. It added that these actions were generating a crisis in the public university system. “In view of the foregoing, ASUU resolves to give the Nigerian Government another 14 days, in addition to the earlier 21 days, beginning from Monday, September 23, 2024, during which all the lingering issues must have been concretely addressed to the satisfaction of the membership of the union. The union should not be held responsible for any industrial disharmony that arises from the government’s failure to seize the new opportunity offered by ASUU to nip the looming crisis in the bud”. The Union stated further. Meanwhile, ASUU is also pressing for the release of unpaid salaries for staff on sabbatical, part-time, and adjunct appointments affected by the Integrated Payroll and Personnel Information System, and the payment of outstanding third-party deductions such as check-off dues and cooperative contributions. It explained that it wants funding for the revitalization of public universities, partly captured in the 2023 Federal Government Budget, and the payment of Earned Academic Allowances partly captured in the 2023 Federal Government Budget. Other issues include the proliferation of universities by Federal and State Governments, the implementation of the reports of visitation panels to universities, the reversal of the illegal dissolution of Governing Councils, and the adoption of the University Transparency and Accountability Solution as a replacement for IPPIS.
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| Politics › Re: Tinubu Rejects Bill Seeking To Raise Retirement Age Of National Assembly Staff by CAkpos(op): 12:48pm On Sep 25, 2024 |
Get update from TNC Nigeria No reason president just reject bill for retiree. i fear who no fear Tinubu https://thenews-chronicle.com/tinubu-rejects-bill-seeking-to-raise-retirement-age-of-national-assembly-staff/ |
| Politics › Tinubu Rejects Bill Seeking To Raise Retirement Age Of National Assembly Staff by CAkpos(op): 12:45pm On Sep 25, 2024 |
President Bola Tinubu has turned down his assent to a bill proposing an increase in the retirement age for civil servants in Nigeria’s National Assembly.https://www.google.com/amp/s/www.vanguardngr.com/2024/09/40-years-of-service-tinubu-rejects-bill-seeking-to-raise-retirement-age-of-national-assembly-staff/amp/ 4 Likes 2 Shares
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| Politics › Re: Tinubu Begs For Debt Pardon For Nigeria At UNGA by CAkpos(op): 12:39pm On Sep 25, 2024 |
full stories: A whole president is begging. na wa oooo https://thenews-chronicle.com/tinubu-seeks-for-debt-pardon-for-nigeria-at-unga/ |
| Politics › Tinubu Begs For Debt Pardon For Nigeria At UNGA by CAkpos(op): 12:37pm On Sep 25, 2024 |
President Bola Tinubu has appealed for debt forgiveness from creditors and multilateral financial institutions for Nigeria and other developing countries. In a statement issued by a presidency’s spokesman Stanley Nkwocha on Wednesday, September 27, Tinubu made the appeal while addressing world leaders during the General Debate of the ongoing 79th Session of the United Nations General Assembly at the UN headquarters in New York, U.S. Represented by Vice-President Kashim Shettima, Tinubu also stressed the need for reforms in the international financial architecture and a transparent multilateral trading system. He expressed the hope that “the adoption of the ‘Pact for the Future’ could change the narrative, reposition economies and translate into concrete measures. According to the president, the measures will solve the challenges developed and least-developed countries face. “It is for this and other reasons that we reiterate the call by countries, especially of the global South, for reform of the international financial architecture and promotion of a rules-based, non-discriminatory, open, fair, inclusive, equitable and transparent multilateral trading system,” he added. Tinubu, who averred the dangers of straying from multilateralism, drew the UN’s attention to the global debt burden, undermining the ability of countries and governments to meet the needs of their citizens, also said that trade barriers and protectionist policies are destroying nations’ hopes, and the uncontrollable competition discourages motivation and hampers global investments. “Similarly, we must ensure that any reform of the international financial system includes comprehensive debt relief measures. This will ensure a sustainable financing for development,” Mr Tinubu stressed. “Countries of the global South cannot make meaningful economic progress without special concessions and a review of their current debt burden.” The president, therefore, called for the recovery of the proceeds of corruption and illicit financial flows. He maintained that the return of such funds to countries of origin “is a fundamental principle of the United Nations Convention against Corruption.” He said. He added, “Therefore, the international community must promote practical measures to strengthen international cooperation to recover and return stolen assets and to eradicate safe havens that facilitate illicit flows of funds from developing countries to the developed economies.” Tinubu called on world leaders to recommit themselves to multilateralism by deepening relations among UN member states in line with the principles of inclusivity, equality and cooperation. He said this is the surest guarantee of global action against existential challenges faced by the international community. The president decried the steep descent to singularity and nationalism, undermining the quest for peaceful and collective resolution of global challenges. The president stated that the challenges are terrorism, climate change, poverty, food crises, hyperinflation, nuclear proliferation and grinding debt burden, among others. President Tinubu equally reminded the world leaders that the UN stands for multilateralism, which represents inclusiveness and is anchored on the tripod of peace, sustainable development, and human rights. Tinubu explained further; “Today, these pillars of our organisation are threatened. They risk being broken by the relentless pursuit of individual national priorities rather than the collective needs of the nations that are assembled here today. While commitment to multilateralism offers us the surest guarantee of global action to address the existential challenges we face. “Singularity and nationalism are undermining the aspirations towards the peaceful and collective resolution of such challenges. From last year’s summit, and indeed from previous years, we have carried over the numerous challenges of terrorism, armed conflict, inequality, poverty, racial discrimination and human rights abuses. “Other challenges are food crises, hunger, irregular migration, piracy, global pandemics, hyper-inflation, nuclear proliferation, grinding debt burden, climate change, and a host of other vexations. The continued manifestation of these challenges testifies to our failings rather than to any lofty achievements on our part. Billions of dollars are being committed to the prosecution of wars and the fanning of the embers of conflict,” . Tinubu reechoed Nigeria’s steadfast commitment to strengthening multilateralism as it did 65 years ago when it joined the UN as the 99th member state. 2 Likes 1 Share
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| Politics › Local Marketers Boycott Dangote Refinery Products by CAkpos(op): 2:02pm On Sep 24, 2024 |
Local Marketers Boycott Dangote Refinery Products, Causing The Average Fuel Price To Reach N1,406.05/Litrehttps://nairametrics.com/2024/09/24/average-diesel-price-hits-n1406-05-liter-as-local-marketers-boycott-dangote-refinery-products/ 4 Likes 3 Shares
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| Politics › The Audacity Of “Go To Court”: A Threat To Free And Fair Elections In Nigeria by CAkpos(op): 1:14pm On Sep 24, 2024 |
It is no more news to Nigerians who are exposed to the media that President Bola Ahmed Tinubu has encouraged aggrieved politicians in Edo State to seek resolution through the judiciary following the recent governorship election. While this call might have emphasized the importance of utilizing legal avenues while maintaining the integrity of the democratic process to address disputes to some Nigerians, to this writer, it is not. The reason for having an opposing view on the issue cannot be farfetched as it is an impunity that is been taken too far to the detriment of Nigerian democracy. 22 Likes 4 Shares
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| Politics › Aliko Dangote Muses On His Missed $2 Billion Opportunity To Acquire Arsenal by CAkpos(op): 9:51am On Sep 24, 2024 |
Aliko Dangote, chairman of the Dangote Group and an African business magnate, has apologized for passing up the opportunity to buy Premier League team Arsenal for $2 billion in the past. Currently, the club is valued at almost $4 billion. Dangote declared in 2020 that he will purchase the North London club after completing his refinery project. However, the billionaire admitted that the “time has passed” for him to buy Arsenal in a recent interview that aired in New York on Bloomberg TV. Dangote, whose estimated net worth is $13.4 billion, is the second richest person in Africa as of September 2024. Johann Rupert is currently the richest person in Africa, with $14.3 billion in net wealth. The chief executive of the biggest conglomerate in West Africa, Dangote Group, stated that he does not now have the funds to support an investment of $4 billion in Arsenal, pointing out that investing just for marketing purposes would not be feasible. “I think that time has passed,” Dangote said. “The last time we had this interview, I told you that, yes, as soon as I finished with the refinery, I was going to try and buy Arsenal. But the issue is that everything has gone up. The clubs are all doing well, and Arsenal is doing extremely well now. At that time [when I wanted to buy], they were not doing very well.” He underlined that funding his refinery project was the proper choice at the time. “I wish I had purchased Arsenal sooner. But I didn’t need to buy Arsenal with my money; I needed it to finish my work.” He said he could never have completed my project if he had paid $2 billion for it. Dangote is still an avid fan of Arsenal, even though he has given up on his dream of purchasing the team. “I will always be the biggest Arsenal fan. I will always be a huge fan of theirs and will watch their games, but I don’t think buying Arsenal makes sense right now. “Actually, I regret not buying Arsenal before, but completing my project was the right move,” Dangote continued, reflecting on his choice. Dangote, who comes from a wealthy family and is ranked 158th on the Forbes Billionaires List, has a long history of influence in the commercial world in Africa.
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| Politics › Ecowas Standy-force: New Wine In Old Wine Skin? (2) by CAkpos(op): 9:35am On Sep 24, 2024 |
There are several observations about the current conversation about an ESF: One, there is an erroneous belief that if you have a Standing or Standby Force, they will be quickly and efficiently deployed in conflict situations. The truth is that every conflict is unique and will throw up specific forms of politics among members of the Standby Force or Standing Force. For instance, would an ESF in which Burkina Faso, Mali, and Niger have soldiers be willing to be deplored to restore constitutional order in their countries after the military coups in those countries? Would an ESF be able to intervene in a conflict in Nigeria – especially given the size of the country, its ethnic and religious polarization and the shared ethnic and religious bonds among some ethnic groups across different member states? [b]Two, a crucial question in any conversation about the ESF is who should be the mandating authority for any force deployment, especially in the context of the dynamics of global power play. While under the ASF framework, it was assumed that the Peace and Security Council of the AU should be the mandating authority, in most cases, this authorization has come from the RECs and almost always must be with the acquiescence of the UN Security Council, which frowns at any intervention without its authorization. For instance, though ECOWAS was the driving force behind the restoration of constitutional order in Mali in 2012 following a military coup and the subsequent Tuareg rebellion in the Northern part of the country, its request to the UN Security Council for authorization of an African-led International Support Mission to Mali (AFISMA) and provision of voluntary and UN-funded logistics support packages (including equipment and services for an initial period of one year), was unnecessarily delayed. Yet the same UNSC, on April 25, 2013, authorized the United Nations Multidimensional Integrated Stabilization Mission in Mali (MINUSMA) under French leadership and asked AFISMA to be subsumed into it. Similarly, during the Libyan crisis of 2011, the AU’s several peace initiatives, including its unequivocal rejection of external military intervention in the country and development of a roadmap for peace which was accepted by Muammar Gaddafi and most of the actors in the conflict, was ignored, and in many cases undermined, by NATO members who appeared to harbour a vendetta against Muammar Gaddafi. In essence, if the UNSC, controlled by the five veto-wielding members of the Council, must authorize any intervention, then there is a considerable risk that the ESF will become just another tool in big-power politics.[/b] Three, any talk of ASF or ESF underestimates the force of the external ties pulling African countries in different directions. Regarding ECOWAS, the primary contradiction is between the Anglophone and the Francophone countries. For instance, the Economic Community of West African States Monitoring Group (ECOMOG), which was the closest to a Standby force in the sub-region, was formed in 1990 mainly by Anglophone members of the group (essentially by Nigeria and Ghana with sub-battalion strength units from Guinea, Sierra Leone, The Gambia, Liberia and others) to intervene in the civil war in Liberia because several Francophone ECOWAS members strongly opposed any troop deployment to the country. The leaders of Burkina Faso and Côte d’Ivoire supported Charles Taylor in his attempt to depose Samuel Doe. Charles Taylor had accused Anglophone members of the ECOWAS of a gang up against him, which led to Senegal sending 1500 soldiers to his aid. Unfortunately for Taylor, after a major confrontation between his forces and the Senegalese soldiers in Vahun, Lofa, county on May 28, 1992, Senegal withdrew its forces, making it easier for ECOMOG to assert itself in the conflict. With the withdrawal of Niger, Mali, and Burkina Faso from the sub-regional body and suspicions in some quarters that Nigeria’s President Bola Tinubu has a close relationship with France (at a time anti-French sentiments are high in French-Speaking West African countries), it can be assumed that the contradictions between Anglophone and Francophone West Africa may have widened. Four, why did the reputation built by ECOMOG from its interventions in the Liberian civil wars and its successful deployments to stop the RUF rebellion in Sierra Leone in 1997 and to end the Guinea Bissau Civil War in 1999, suddenly begin to atrophy? For instance, though ECOWAS planned to deploy 1700 troops along the Guinea-Liberia border in 2001 to stop guerrilla infiltration by fighters opposed to the new post-1998 election government in Liberia, no force was ever deployed, ostensibly because of lack of funds. Similarly, in September 2003, ECOWAS launched the ECOWAS Mission in Liberia (ECOMIL) to end the Second Liberia Civil War with 3563 troops from Nigeria, Mali, and Senegal, but this was quickly converted into United Nations Mission in Liberia (UNMIL) by the UNSC from October 1, 2003. Some attributed this to the unease by big powers about any regional intervention force they are not directly in control of and, of course, to the internal contradictions within the ECOWAS. Those pushing the new frenzy about ESF should carefully study the rise and fall of ECOMOG, which some have argued might have inspired the notion of ESF. Some Western commentators have unfairly attributed the early successes of ECOMOG to Western intelligence, technical, logistical, and financial support rather than to the fact that members had their booths on the grounds where they intervened. Five, many of the current leaders of ECOWAS lack the requisite legitimacy and moral right to intervene in external conflicts because most are guilty of at least one of the three forms of coup-making in the continent – electoral coups, military coups, and tenure elongation. This undermines their moral authority to use force to restore constitutional order in any country, as happened when it tried to restore constitutional order following military coups in Burkina Faso, Mali, and Niger. Six, there is also the question of who will pay for the ESF. Projecting power on the global scene is an expensive enterprise. And with Nigeria, the main financier of ECOWAS initiatives, in deep financial trouble, it is doubtful if the country still has the power of the purse to play the big brother role in the sub-region. Seven, there are also operational issues of who will lead the ESF. For instance, the first Commander of ECOMOG was a Ghanaian, Lieutenant General Arnold Quainoo, but he was succeeded by an unbroken line of Nigerian officers on the argument that Nigeria was the primary funder and driver of the initiative. But that also bred resentment and eventually weakened ECOMOG as a force. Eight, what should be the way forward? The current configuration of global power and Nigeria’s declining influence do not favour the sort of standby force envisaged by the ECOWAS. Nigeria needs to get its act together, and if it is seen as succeeding, it will become easier for others in the sub-region to line up behind its leadership. For now, the emphasis should be on the sub-regional body using whatever moral authority it has to persuade parties in any conflict. One of its bargaining tools could be reminding warring parties that escalating their conflicts could inevitably result in extra-African interventions and that such has hardly done any country any good. Essentially, the ECOWAS has to expand the carrots in its diplomatic toolkits and show better sensitivity to both the internal and the external constraints to its room to manoeuvre. ____________________________ Jideofor Adibe is a Professor of Political Science at Nasarawa State University, Keffi and founder of Adonis & Abbey Publishers. He can be reached at: pcjadibe@yahoo.com or 07058078841 (WhatsApp or text messages only). A version of this article was presented on 12 September 2024 to the monthly Dialogue Series of the Abuja School of Political and Social Thoughts.
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| Politics › Let Tinubu Kuku Kill All Of Us Kawai by CAkpos(op): 9:10am On Sep 06, 2024 |
Nigerians are the most resilient people I know. Despite these killings, our population is always on the increase. I expect the population to plummet. Killings everywhere. One is either killed by bandits or kidnappers. If one escapes being killed by ISWAP, they might be ambushed by Boko Haram. However, Killings by these agents of death are nothing compared to the lives that have been lost to hunger, malnutrition, sickness, and depression due to hopelessness. Everyday, countless number of Nigerians die of poverty and hunger. Many who are not clearly in the poverty cycle are depressed due to the fear of being drawn into the ever-expanding cycle of poverty. All this, courtesy of Tinubu’s strangulating policies. Yet, he does not give a damn. For Trending News: https://thenews-chronicle.com/let-tinubu-kuku-kill-all-of-us-kawai/ Under Tinubu who is said to be a democrat, democrats are being locked up for being democrats. Their offence? They protested against hunger and bad governance by carrying placards. This simple expression of democratic right has become treasonable offence in Nigeria under Tinubu. While protesters are easily tracked and arrested, gun-wielding terrorists terrorize and kill Nigerians as if they had the support of government. They make calls to negotiate ransom even as government continues to appoint minister of communication. My sense is: “Protest against bad governance and hunger is perceived to be a protest against government and Tinubu. That is treasonable and could be punishable by death. But since bandits, kidnappers, and terrorists are not against the government, they are only killing common Nigerians—farmers and the bloody poor—no problem.” As rapt listeners, all that you hear from Nigerian government when these agents of death commit their atrocities is: “We will deal with them,” “it is condemnable,” “perpetrators won’t go unpunished,” “government promises justice for victims of attack” etc. That is all. As usual, the government has reacted to the recent killings in Yobe State where more than hundred Nigerians were reportedly killed with these nice words. And that is all. Is it not cowardice to flex muscles against placard-carrying protesters and turn a blind eye when terrorists strike? There is no disputing the fact that Nigeria is hellish under Tinubu. Though the eternal Hell is for arrogant sinners, Tinubu, with his cold policies, has successfully created his own personal “Hell” in Nigeria for all. What qualifies one to be in Tinubu’s Hell is to be a civil servant, petty trader, self-employed, unemployed, underemployed, to be poor. To keep the long list short, once one does not belong to the ruling class, he or she is most likely qualified to be in Tinubu’s “Hell.” Recently, Steve Hanke, a professor of applied economics at Johns Hopkins University described Tinubu as “arrogant, ignorant, and incompetent.” Though many Nigerian newspapers reported Hanke’s remark, I have not seen any rejoinder to Hanke’s characterization of Tinubu from any of his “brilliant” technocrats and spokespersons. Could that be a tacit approval of Hanke’s characterization of their boss? Hanke cringed at the arrogance and callousness that propelled Tinubu to purchase aircraft with about 150 billion naira at a time Nigeria’s inflation rate has gone haywire. He wrote: “Meanwhile, I accurately measure Nigeria’s inflation at a SHOCKING 114%/yr.” This far exceeds official figures in Nigeria. If I were one of Tinubu’s praise singers, I will rejoinder Hanke and I will make it brief. I would have penned the following: “Dear Prof Steve Hanke, do you think Nigeria is a sane country like America—economically speaking? In fact, our lawmakers and executives have no problem with replacing 19 year old jet with 15 year old jet at a whopping sum of $100 million. Maybe you are not aware, one of our prominent clerics (“men of God”) considered the decision to buy presidential jet the best of all decisions taken by this administration even as the masses die of hunger. For your information, all the economic sense you can think of is nonsense in Nigeria under Èmi lo kàn. Therefore, you do not need to tell us that our president is arrogant, ignorant, and incompetent.” When I learnt that fuel price has been hiked again, my spontaneous remark is the title of this column “Let Tinubu Kuku Kill all of us Kawai.” Honestly, I was crestfallen and that was conspicuous in my mood. I became moody instantly and I am yet to recover as I write. I thought of my earnings that can now hardly feed myself and my little kids—this is after making all the adjustments you can think of. I thought of those whose earnings are way below mine, those without regular earnings, and those who do not have any source of income. The two words in the title “kuku” and “kawai” are Yoruba and Hausa words respectively. I may not be entirely accurate in my translation of them into English. They convey the meaning of “simply” as in “Let Tinubu simply kill all of us. Describing the terrible outcome of salary negotiation between NLC and FG in my column titled “Protesting Hardship and the N70K Minimum Wage,” I wrote: “In a word, the FG won. In another word, the NLC lost. To crown it all, the masses are in trouble.” To those whose foresight could not guide to understanding the trouble in the 70k minimum wage and the failure of NLC, this is the time to understand. While 70k itself is a ridiculous offer which the FG is yet to, PMS (fuel) now sells for almost N1000/litre at NNPCL filling stations while other filling stations sell a litre more than N1000. Plan to increase VAT also from 7.5% to 10% is in the offing. It means Nigerians are in a new phase of hardship under the man who “built” Lagos. Rate at which prices of commodities will rise can only be imagined. What about transport fare? I learnt the Lagos State Governor Babajide Sanwo Olu asked civil servants to work from home for three months. So, what happens after three months? Do we even have the facilities to work from home? How do doctors and nurses work from home? How do policemen work from home? What about those in the private sectors who are not civil servants? What about traders whose shops are in markets far away from home? We are in a deep mess. The 81 year old professor of economics, Hanke, said this about Tinubu few months ago. He (Tinubu), according to Hanke, is the Master of Economic Disaster. It is as if Hanke has invested enough time to study Tinubu and his policies. In his recent caricature of Tinubu, Tinubu is depicted piloting his new presidential jet and globetrotting while his country burns. If I were a member of Tinubu’s family, I will be ashamed of myself. Even as a citizen, I am ashamed to admit that a citizen of another country makes such huge mockery of our president and many agree with him. But do we blame Hanke? Tinubu and his family are obviously living in opulence while the masses burn in the Hell he created. The Muslim-Muslim clerics who have access to Tinubu should please meet him in camera, hold his hand, and advise him that he must learn how to show empathy—or at least sympathy. They should tell him that when Umar Ibn Khattab was the Caliph and things were tough in the year of Ar-Ramadah (year of famine), Umar (RA) said, reacting to hunger in the land, “I do not like to eat in an extravagant manner. How can I be concerned for the people if I do not suffer what they suffer?” They should also tell Tinubu that when the price of ghee became very high, Umar (RA) ate olive oil. He could not eat ghee, yogurt or milk which he considered too expensive until people could afford it. His hunger caused his stomach to rumble but he would say, “Rumble as much as you like, for by Allah you will not get ghee until the people eat it!” Can Tinubu be like Umar? Many would say it is impossible. Me: with God, everything is possible. The only thing those clerics need to do is their part. No one should accuse me of stupid optimism. May God help Nigerians and guide our rulers. Abdulkadir Salaudeen salahuddeenabdulkadir@gmail.com
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| Politics › JUST IN: Dangote Refinery Unveils First Petrol Sample, Says Product To Hit Filli by CAkpos(op): 12:52pm On Sep 03, 2024 |
JUST IN: Dangote Refinery Unveils First Petrol Sample, Says Product To Hit Filling Stations In 48Hrs The President of Dangote Group, Aliko Dangote, has unveiled the first sample of Premium Motor Spirit, otherwise known as petrol. Dangote made this presentation on Tuesday in a broadcast at his refinery situated in the Ibeju-Lekki Area of Lagos State. The 650,000-capacity refinery engaged in a test run of the product. “I would like to salute the people of Nigeria and the government of President Bola Tinubu for giving us the platform for growth, development, and prosperity. I also want to thank him personally for creating the idea of the Naira for crude. Doing that will give Naira stability. “As we have this refinery working, it will show the true consumption of Nigeria; we can track every loaded truck and ship,” he said. Asked to comment on the pricing of petrol from his refinery, Dangote said, “It is an arrangement which is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu. As soon as it is finalized, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market.” The billionaire also said that his refinery will meet the demands of not only Nigerians but also sub-Saharan Africa. Details shortly…
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| Politics › When The Black Markets Become Official Markets by CAkpos(op): 2:55pm On Sep 02, 2024 |
Indeed all is not well. Gradually, we have enthroned, crowned, institutionalised and entrenched absurdities as a way of life. In fact, doing normal things now looks abnormal while those who practise abnormalities are now looking like those with virtues worthy of emulation. At what point did this descent to anomie become validated and acceptable? Today, it is acceptable and normal not to have petrol to buy from the filling stations but right in front of the filling stations are touts brandishing petrol for sale to motorists. As it is now, it’s more normal now than driving into a filling station to get petrol. Of course, our oil chieftains at NNPCL think it is normal and are carrying on as though all is okay. Nigeria is the sixth largest crude oil producer in the world, yet I cannot get petrol to power my I-better-pass-my-neighbour generator to work from home from the filling stations. Since electricity has not only been priced beyond the reach of the common man, and because in my remote village, electricity is a rarity, I am left at the mercy of black marketers. Was it Bob Marley of blessed memory who sang …in the abundance of water the fool is thirsty? Yes in the abundance of crude oil, arable land, clement weather and relatively regular rains, Nigerians are starving and hopping from one fuel queue to the other in search for petrol. It cannot be a mere coincidence or happenstance that in all of Mele Kyari’s over nine years (since July 2019) as NNPC GMD not one of our oil refineries is working. It cannot be by chance that in spite of the several failed promises to get one of them working, the NNPC is still unable to deliver on its promises or meet deadlines it had set for itself. This is a classical example of the abnormal coming to become normal. What NNPC, if you like you can add L, and the Nigerian government have failed to achieve, that one man called Aliko Dangote has achieved. Tells you how serious our leaders are. Should we just laugh or cry? [b] News Source:[url] https://thenews-chronicle.com/when-the-black-markets-become-official-markets/[/url] In the past, our government pretended to hunt and chase black market operators. Today, it is a new normal. In front of the Nigerian Army Barracks in Ojo, in Lagos is the headquarters of petrol black market operators. Talk about the official seal![/b] So much for the oil mafia and their underground activities. Enter the financial sector. If you need to travel or pay school or medical fees abroad and you desire foreign currency, of course, the black market is your first and only realistic option. Well, you may argue that this scenario has been with us forever, but have you noticed that unlike in the past where these Abokis operated in obscure corners in the city centres, they are now in every market where fish and tomatoes are sold today? It’s our new normal, it’s come to stay. In societies where laws are what they are, nobody would dare to exchange foreign currency on the streets illegally, but in my country, Abokis are struggling with pepper sellers for kiosk spaces. Some schools and hotels in Nigeria are insisting that payment be made in foreign currencies. One of the allegations against the former CBN governor, Godwin Emefiele, we are told, was his currency redesign programme which saw Nigerians go through and suffer in an unprecedented way like never before, chasing cash from bank to bank and using money to buy money. It was an experience that was better imagined. Husbands and their wives would take off from their homes to go searching for naira notes to purchase, like hunters going in search of bush meats in the forests. Well, you would think that with that experience, the new refrain would be never again, is it not? Sorry! Today people still go from banks to banks in search of cash to undertake little expenditures here and there. The banks will tell you they don’t have cash and so cannot give more than N10,000 but right opposite the bank is a POS operator under an umbrella who can give you as much as you desire in cash for a fee. Since these POS operators under canopies and umbrellas do not run supermarkets nor do they have another business, where are they getting their cash from? What exactly is the purpose of the ATM when I cannot access cash from it at any time, isn’t that the essence of the 24/7 access these banks claim in their commercials? As a man with over 30 years experience operating a bank account, I cannot claim to have had new naira notes paid to me from the counters of these banks. Yet, illegal currency dealers are at every social gathering offering new notes for sale. Do they operate their own money minting companies? Where are they getting supplies from? Ironically, the two major reasons responsible for the current plight of Nigerians are linked with the petroleum and financial sectors. When President Tinubu during his inauguration said oil subsidy is gone, he meant well, because many of us could no longer live with the monumental fraud that is masked around the oil subsidy regime. But did he think it through and did he not anticipate the immediate backlash that would arise from that pronouncement? When he opted to float the currency, which again was supported by many if only to end the fraud with round-tripping in the sector, did he also consider the consequences given that these two major policy shifts were coming in quick succession? Now that those two decisions have been taken, how about seeking immediate remedial actions to mitigate their effects on the people. Providing 30 hybrid Compressed Natural Gas-powered buses and promising to provide more is only a drop in the ocean. Because our economy is road-driven, palliative measures would not address the problem. Will NNPCL deliver the local refineries and how soon can that be done? How prepared are the NNPCL, NMDPRA and the ministry, to ensure that as a matter of urgency, Dangote is given all the support it needs to be in the market? Until our markets have a significant amount of locally refined petrol the volatility of the cost of the products would be beyond our control since the cost is determined by the exchange rate of the naira against the dollar. There shall be no more excuses by NNPCL and NMDPRA. It is either a regular supply of petrol in the market or their bosses are sacked. Kyari must be given a mandate to deliver these local refineries or he is shown the way out. We are tired of constantly shifting the due date. It is only when sanity and transparency are brought to the petroleum sector that the economy of this nation can begin to breathe. Energy is everything for a growing economy, we are either getting it right or we continue to remain the laughingstock of other serious nations of the world. |
| Crime › BREAKING: Police Declare British National, One Other Wanted Over Alleged Plot To by CAkpos(op): 2:34pm On Sep 02, 2024 |
BREAKING: Police Declare British National, One Other Wanted Over Alleged Plot To Unseat Tinubu Authorities of the Nigeria Police has declared a suspect identified as a foreign mercenary, a British national called Andrew Wynne who is popularly referred to as Andrew Povich or Drew Povey wanted, for alleged sponsor of terrorism in the country. According to the police, investigation of the Nigeria Labour Congress (NLC), has revealed the level of involvement of the foreigner as the NLC did not even know the real identity of the person occupying their building. While briefing journalists in Abuja on Monday September 2, Force Public Relations Officer, ACP Olumuyiwa Adejobi, said Andrew built a network of sleeper cells to topple the government and plunge the nation into chaos. In the same vain, the police declared Lucky Ehis Obiyan, who is alleged to be a local coordinator for Andrew, wanted, adding that global hunting for them has begun in connection with the investigation. “Investigations have identified a foreign mercenary, Andrew Wynne (also known as Andrew Povich or Drew Povey), a British national, who built a network of sleeper cells to topple the government and plunge the nation into chaos. He rented a space at Labour House, Abuja, for an ‘Iva Valley Bookshop’ and established ‘STARS of Nations Schools’ as a cover for his subversive activities. “Documentary evidence and confessions revealed that Andrew Wynne issued directives, monitored progress, and provided finance and operational guidance to achieve unconstitutional regime change in Nigeria. Read more https://thenews-chronicle.com/breaking-police-declare-british-national-one-other-wanted-over-alleged-plot-to-unseat-tinubu/
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| Politics › BREAKING: Nigerian Government Arraigns 10 Protesters On Treason Charges In Abuja by CAkpos(op): 2:11pm On Sep 02, 2024 |
The Nigerian government arraigned 10 young people who were arrested in Abuja, Kaduna, Kano, and Gombe for participating in protests calling for better governance under the hashtag #EndBadGovernance, on Monday. They are facing charges related to treason before a Federal High Court in Abuja The defendants pleaded not guilty to the six charges brought against them when they appeared before Justice Emeka Nwite. Security was tight at the court during the proceedings. full story in the link https://thenews-chronicle.com/breaking-nigerian-government-arraigns-10-protesters-on-treason-charges-in-abuja/
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| Politics › Okonjo-iweala: Since 2014, Nigeria’s Average GDP Growth Rate Has Been Negative by CAkpos(op): 1:11pm On Aug 26, 2024 |
The World Trade Organization’s (WTO) Director General, Ngozi Okonjo-Iweala, has noted that Nigeria’s GDP growth rate has been generally falling since 2014, indicating a decline in the typical Nigerian’s economic well-being. Speaking on Sunday at the Nigerian Bar Association’s (NBA) Annual General Conference, Okonjo-Iweala observed that the nation’s economic fortunes had reversed after the decade between 2000 and 2014 when the average GDP growth rate was almost 3.8%. The WTO Director-General claimed that the country’s GDP was growing consistently at a faster rate than its population, which was only increasing by 2.6% per year. She did, however, note that since 2014, things have turned around, with the GDP displaying a 0.9% negative growth rate since the government has been unable to maintain the positive growth that was attained by earlier administrations. “Many of the big problems the NBA is grappling with today has its root in Nigeria’s failure to sustain rate of economic growth and development that consistently outpaced the growth of our population. “We have had episodes of reforms and faster economic growth that was not merely a function of the price of oil. But we have been unable to consolidate and build on them and millions of our compatriots have paid the price in terms of diminished job prospects and human well-being. “For example, in the decade between 2000 and 2014, we have an average GDP growth rate of 3.8% well above our population growth rate of 2.6% per annum, meaning that people were on average truly improving their standard of living. “During the following decade, average annual GDP per capita has been negative around minus 0.9% meaning people were worse off because we were not able to sustain prior positive growth momentum,” Okonjo-Iweala stated. Nigeria must maintain good economic policies Speaking further, Okonjo-Iweala stated that to promote national growth, the nation must maintain sound economic policies regardless of the government or political party in power. The country’s economic development has reversed, according to the previous Finance Minister, and this is due to policy contradictions. She also supported a social compact that transcends the political party in power and unites the people and the government. She argues that regardless of who is in power, there needs to be a general acceptance of this social compact regarding the economic principles that should be adhered to. “Maintaining good economic and social policies; maintaining policy consistency and adding more reforms on top of that will lead us along the path of good progress that we all desire,” she continued. What to note According to a study from the National Bureau of Statistics (NBS), Nigeria’s GDP growth decreased to 2.98% from the 3.46% rate reported in the fourth quarter of 2023. Nonetheless, the quarter’s GDP growth rate is better than the 2.31% level noted in the equivalent quarter of 2023. GDP assesses a country’s economic performance Nigeria’s economy has grown moderately during the past few decades due to some issues, including poor exports and a decline in oil sales, which provide for about 90% of the nation’s income. President Bola Tinubu has maintained that he would raise Nigeria’s GDP to $1 trillion, but many economists don’t think this is possible given the country’s high unemployment rate, rising national debt, and high rates of inflation.
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| Politics › Nigeria’s Tortoise Syndrome: How Politicians Corner Palliatives Meant For All by CAkpos(op): 12:57pm On Aug 26, 2024 |
In the vibrant tapestry of African folklore, few stories resonate as deeply as the tale of the cunning Tortoise. This crafty creature, who cleverly manipulated language to deceive his fellow animals, serves as a timeless reminder of the perils of greed and selfishness. The fable tells of Tortoise joining a group of animals on a journey to solicit for food. When they arrived at their destination, he introduced himself as “All of you.” This deception allowed him to claim every food delivered by their benefactor, who would announce, “This food is for all of you.” Thus, Tortoise greedily consumed the provisions meant for the entire group, leaving his companions hungry and disillusioned. This ancient tale, though simple, mirrors the tragic reality unfolding in Nigeria today. As the country grapples with economic hardship and widespread poverty, the government’s efforts to distribute palliatives, a supposed lifeline for millions of struggling citizens, are being undermined by the very leaders entrusted to ensure their fair allocation. Just like the Tortoise, a select few politicians are allegedly diverting these resources for their personal gain, despite the fact that they were meant for the masses, Click: All Trending News Today https://thenews-chronicle.com/ Without any iota of exaggeration, the recent economic crisis in Nigeria has been exacerbated by rising inflation, currency devaluation, and widespread unemployment. In response, the government has rolled out various palliative measures, including the distribution of foodstuffs, financial aid, and other essential resources. These palliatives were intended to ease the burden on ordinary Nigerians, many of whom are barely surviving under the weight of these challenges. However, reports of corruption and mismanagement have cast a dark shadow over these efforts. In many communities, the promised palliatives are either delayed, insufficient, or completely absent. Yet, in the corridors of power, stories of diversion and hoarding of these resources abound. Much like the Tortoise, these politicians have effectively claimed the palliatives meant for “All of you” by manipulating the distribution process to benefit themselves and their close allies. The result is a growing divide between the haves and the have-nots, with the latter left to fend for themselves in an increasingly harsh economic environment. The foregoing facts can be reinforced in this context by opining that in recent months Nigeria has witnessed a surge in allegations surrounding the diversion of palliatives meant for vulnerable citizens during times of crisis. These essential relief materials, often provided by the federal government, are intended to alleviate the sufferings of those affected by disasters, pandemics, or economic downturns. However, accusations of mismanagement, corruption, and political maneuvering have cast a shadow over their distribution. One notable case revolves around Kano State, where the Chief of Staff to the Governor, Shehu Wada Sagagi, has been accused of diverting federal government palliatives. The opposition party in the state, All Progressives Congress (APC), leveled these allegations against Sagagi, claiming that he played a role in the misallocation of relief materials. In response, Sagagi vehemently denied any wrongdoing, emphasizing that neither his office nor he personally received any allocation for palliative distribution. He labeled the claims as baseless, misleading, and politically motivated. Sagagi’s defense highlights the need for transparency in palliative distribution. The New Nigeria People’s Party (NNPP) government, under which Sagagi serves, insists on clear records of beneficiaries and distribution channels. However, the APC’s accusations appear contradictory, considering their previous praise for the NNPP’s efforts in supporting Kano residents. Some speculate that the APC’s frustration stems from their defeat in the 2023 governorship election, leading them to resort to political stunts. Beyond Kano, similar allegations have surfaced in other states. For instance, Edo State finds itself embroiled in a heated debate over the alleged diversion of rice meant for vulnerable citizens. The APC has pointed accusing fingers at the Peoples Democratic Party (PDP), accusing key affiliates of the party of mismanaging the relief materials. According to Senator Adams Oshiomhole, during an interview on Channels Television, the state government received 20 truckloads of rice from the federal government and an additional 30,000 bags from the Aliko Dangote Foundation, and diverted them, despite the fact that the palliatives were intended for distribution to vulnerable residents, especially amid reports of rice looting during hunger protests. The Edo State chapter of the PDP swiftly refuted Oshiomhole’s assertions. Rev. Olu Martins, the Deputy Director of the PDP Governorship Campaign Council, emphasized that there is no evidence to support such claims. According to Martins, neither the federal government nor the Dangote Foundation provided rice donations to the state, saying that President Bola Ahmed Tinubu’s address on the hunger protests did not mention any palliative rice being sent to Edo State. There appears to be a missing link as Martins raised critical questions, asking “If 20 trucks of rice were indeed sent to Edo, and if they were truly sent, which ministry handled the distribution?”, and “Where are the documented records of receipt and signing?” Against the foregoing backdrop, it is expedient to opine in this context that the absence of clear evidence casts doubt on the allegations. Furthermore, Martins clarified that while Dangote may distribute rice through the state government, it is not directly managed by the state. As the controversy unfolds, transparency and accountability remain paramount. Whether the rice diversion allegations hold true or not, Edo State’s citizens deserve clarity and assurance that relief materials reach those who need them most. In a state grappling with political tensions and hunger protests, the focus should be on effective governance, unity, and the well-being of its people. Only then can we bridge divides and build a stronger and more resilient Edo State. Besides the foregoing, introspection into the recent years reveals that during the COVID-19 pandemic that state governments across Nigeria received relief materials from the private sector to distribute to residents affected by the lockdown. These materials included food items like rice, garri, spaghetti, and vegetable oil. However, as the pandemic waned and cases reduced, the relief materials remained stored in warehouses. In October, after the #EndSARS protests, hoodlums discovered the items and looted the warehouses where they were stored away. Notably, one such incident occurred in the Satellite area of Lagos State, where a warehouse containing COVID-19 palliatives was raided. The fact that these materials were still available months after their intended distribution raised questions about transparency and accountability. In fact, reports indicate that politicians diverted the palliatives for their own gain. In Lagos and other states, the stolen food items were allegedly shared among party loyalists rather than reaching the intended beneficiaries. The situation highlighted the need for better governance, transparency, and effective distribution mechanisms during crises. As Nigerians grappled with hunger and economic challenges, the revelation of hidden warehouses sparked outrage and underscored the importance of holding Given the foregoing buttressed facts, it is not out of place to opine that the allegations of palliative diversion in Nigeria raise fundamental questions about governance, ethics, and the well-being of citizens. As stakeholders debate the veracity of claims and counterclaims, one thing remains clear: the need for transparency, compassion, and effective distribution mechanisms to ensure that palliatives serve their intended purpose; alleviating suffering and providing hope in times of crisis. The implications of this “Tortoise Syndrome” are dire. As trust in government institutions erodes, the social fabric that holds communities together begins to fray. When those in power prioritize their interests over the collective good, it not only undermines the effectiveness of policies designed to alleviate suffering but also fuels resentment and disillusionment among the populace. In a country as diverse and complex as Nigeria, this can have far-reaching consequences, including social unrest and political instability. The lesson from the Tortoise fable is clear: greed and deception ultimately lead to downfall. If Nigeria is to overcome its current challenges and emerge stronger, its leaders must abandon the selfish tendencies that have plagued the nation for far too long. The palliatives are meant for everyone, not just a privileged few. It is high time that those in power remember this and act accordingly, lest they find themselves alone at a table meant to feed an entire nation.
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| Politics › Fg Moves To Enforce 18-year Age Limits For Waec, Neco, Utme Exams by CAkpos(op): 12:48pm On Aug 26, 2024 |
The Federal Government has banned persons under the age of 18 from participating in the National Examinations Council and West African Examinations Council examinations. The Minister of Education, Prof. Tahir Mamman made this known this when he featured on Channels Television’s ‘Sunday Politics’ program on Sunday August 25th. All lates news: https://thenews-chronicle.com/fg-moves-to-enforce-18-year-age-limits-for-waec-neco-utme-exams/ While explaining that the federal government has directed WAEC, which conducts the West African Senior School Certificate Examination and NECO, which oversees the Senior School Certificate Examination to enforce the 18-year age requirement for candidates wishing to take these examinations, Mamman stated that this was not a new policy. The Education minister added that the age limit for candidates sitting for the Unified Tertiary Matriculation Examination, administered by the Joint Admissions and Matriculation Board, remains set at 18 years. He explained further; “It is 18 (years). What we did at the meeting that we had with JAMB (in July) was to allow this year and for it to serve as a kind of notice for parents that this year, JAMB will admit students who are below that age but from next year, JAMB is going to insist that anybody applying to go to university in Nigeria meets the required age which is 18. “For the avoidance of doubt, this is not a new policy; this is a policy that has been there for a long time. “Even basically if you compute the number of years pupils, and learners are supposed to be in school, the number you will end up with is 17 and a half – from early child care to primary school to junior secondary school and then senior secondary school. You will end up with 17 and a half by the time they are ready for admission. “So, we are not coming up with new policy contrary to what some people are saying; we are just simply reminding people of what is existing. In any case, NECO and WAEC, henceforth will not be allowing underage children to write their examinations. In other words, if somebody has not spent the requisite number of years in that particular level of study, WAEC and NECO will not allow them to write the examination.”
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| Politics › Jittery EFCC Denies Sharing N54 Billion Recovered From Emefiele’s Associates by CAkpos(op): 10:23am On Aug 22, 2024 |
The Economic and Financial Crimes Commission (EFCC) has vehemently denied a report by an online newspaper alleging that N54 billion forfeited by associates of former Central Bank of Nigeria (CBN) governor Godwin Emefiele was shared among ministers, aides of President Bola Tinubu, and EFCC officials. All latest news here: https://thenews-chronicle.com/jittery-efcc-denies-sharing-n54-billion-recovered-from-emefieles-associates/ In a statement, the EFCC described the report as “false” and “sensational,” stating that no official of the Commission has ever been involved in the sharing of proceeds from forfeited assets. The EFCC emphasized that the notion of sharing forfeited assets is “strange” to the Commission and contradicts the existing asset recovery and management framework. The EFCC Act, 2004, and the Proceeds of Crime (Recovery and Management) Act, 2022, clearly outline the accounts into which proceeds of forfeited assets are to be paid, leaving no room for “sharing.” The Commission challenged the newspaper to provide evidence of when and how the alleged sharing took place, stating that the report’s lack of specificity betrays its falsehood. Todays Trending news: https://thenews-chronicle.com/ The EFCC condemned the report as “irresponsible” and an attempt to defame its reputation. The Commission urged the public to disregard the report and assured that it will not tolerate any attempts to tarnish its hard-earned reputation.
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| Politics › Misappropriation Of N90 Billion Naira Hajj Fund: Group Lauds Tinubu For Sacking by CAkpos(op): 9:46am On Aug 22, 2024 |
Misappropriation of N90 Billion Naira Hajj Fund: Group Lauds Tinubu for Sacking NAHCON Chairman A foremost youth group, the Nigerian Youth Patriots (NYP) has commended President Bola Tinubu for sacking the former Chairman of the National Hajj Commission (NAHCON), Jalal Arabi following a discrete investigation by the Economic and Financial Crimes Commission (EFCC). The EFCC from its investigation into the suspicious use of funds allocated to NAHCON for Hajj operations, revealed a multi-million-dollar fraud perpetrated by the sacked Chairman, Arabi, and the Secretary of National Hajj Commission (NAHCON). Among the crimes carried out by the Sacked Chairman, Mr Arabi and the secretary was a consultancy fee paid to Shuraka’a al-Khair Group Ltd to recover money already received in the commission’s account from the Saudi Arabia Ministry of Hajj and Umrah. It was gathered that the sacked Chairman made an overpayment of estacodes to himself and staff members for a study tour that never took place. He was said to have paid himself SAR 50,000, far above the SAR15,929 he was entitled, paid three commissioners SR40,000 each instead of SAR15,929, paid the secretary SR30,000 instead of SAR14,336, overpaid the directors and the chief of staff SAR30,000 each, when they were only entitled to SAR2,550 each, alongside several unaccounted cash withdrawals from the account of NAHCON and the mismanagement of N90 billion federal government subsidy for 2024 Hajj. Latest news update: https://thenews-chronicle.com/ Reacting to the development, the NYP President, Amb. Timothy Nwachukwu eulogized the EFCC for its diligent investigation which revealed the monumental fraud that was undertaken by the embattled former Chairman. He expressed sadness that the malaise of corruption has reached endemic proportions across all segments of Nigerian society, with the public service being perceived as the worst affected. “The case of the National Haji Commission Chairman confirms how endemic corruption has eaten into the fabric of Nigerian society. “Nigerians must support the EFCC by providing credible information that will lead to the arrest of individuals who are corruptly enriching themselves while holding public offices,” he said. All News Here: https://thenews-chronicle.com/misappropriation-of-n90-billion-naira-hajj-fund-group-lauds-tinubu-for-sacking-nahcon-chairman/ Amb. Nwachukwu further called on Nigerian public officeholders to discharge their duties honestly, responsibly, diligently, and transparently with accountability, for Nigeria to attain its developmental goals today and for future generations.
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| Politics › Tinubu’s Petrol Subsidy Costs N15 Trillion As Scarcity Intensifies by CAkpos(op): 1:48pm On Aug 21, 2024 |
THE NEWS CHRONICLE’s calculations show that in the previous 14 months, President Bola Tinubu’s administration has spent N15.096 trillion on petrol subsidies. Petroleum marketers’ information and data from the National Bureau of Statistics (NBS) were used to determine the value of the subsidy spending under Tinubu. Nigeria imports 1.95 billion litres on average every month, ranging from 1.4 billion to 2.5 billion litres, according to the NBS. The nation has used 27.3 billion litres in the course of 14 months, from June 2023 to July 2024. However, independent marketers claim that the cost of landing a litre of petrol plus other logistics expenses is N1,203. At its stations, NNPC Retail sells gasoline for N650 per litre, meaning that there is an N553 difference for every litre of fuel. Given the N553 difference and the 27.3 billion litres used in just 14 months, the Tinubu administration is estimated to have spent N15.097 trillion during that time. The CEO of Dairy Hills, Kelvin Ayebaefie Emmanuel, stated that Nigeria must first be truthful about how many litres of gasoline the nation uses. “Determining the actual daily consumption is the first step in addressing the cost of under-recovery on the premium motor spirit (PMS) subsidy.” The price of crude oil and the currency rate are the other two significant factors contributing to the resurgence of under-recovery. He stated that the Naira to USD pair at 750 and the price of Brent at $75 per barrel are the only ways to achieve non-payment. All latest news here: https://thenews-chronicle.com/tinubus-petrol-subsidy-costs-n15-trillion-as-scarcity-intensifies/ “For this reason, the government must modify its obligations regarding the domestic supply of crude oil and ensure that domestic refineries have the feedstock they need to integrate production backwardly.” In his inauguration speech on May 29, 2023, President Bola Tinubu stated that petrol subsidies had been removed. But it’s now greater than what was being paid before his ascent to prominence. Between 2016 and the first half of 2023, Nigeria’s former president Muhammadu Buhari spent N10.7 trillion on petrol subsidies. But Tinubu’s spending on petrol subsidies in a single year has surpassed that. This is ascribed by analysts to the naira’s decline following the deregulation of foreign exchange in 2023. According to observers, the value of the Naira has decreased by almost 60% since the present administration liberalized it. On Tuesday, one dollar was worth N1,592.06, compared to N740 on June 1, 2023. Mele Kyari, the group CEO of Nigerian National Petroleum Company (NNPC) Limited, disclosed that the nation was spending more than N400 billion a month on fuel subsidies a week before the 2023 presidential election that resulted in the new administration. However, Kyari informed the media on Monday in a widely shared video that the state-owned business was not providing fuel subsidies. “I told you there is no subsidy whatsoever. We are recouping all of our expenses from the products that we import.” “We understand why the marketers are unable to import. We hope they accomplish this soon, and these are some of the measures the administration is implementing. There is no subsidy,” he stated. Read More News here: https://thenews-chronicle.com/ However, the News Chronicles study shows that as of Monday, August 19, 2024, the landing cost of petrol per litre is more than N1,200, even if the retail price of petrol is between N650 and N750 nationwide. “After reviewing the analysis, the government has acknowledged that the subsidy is back and larger,” stated Jide Pratt, TradeGrid’s country manager and AIONA’s chief operating officer. According to Pratt, the subsidies prior to Tinubu’s administration were approximately N50–N60 per litre based on the exchange rate and the fuel index. President Bola Tinubu has authorized NNPC Ltd.’s proposal to use the 2023 final dividends owed to the federation to cover the cost of the petrol subsidy, according to a recent article by The Cable. According to sources close to the presidency, the report said that the president also gave his approval to postpone paying the federation’s 2024 interim dividends to increase NNPC’s cash flow. Furthermore, the National Oil Company informed the President that due to the subsidy payments – which it referred to as a “subsidy shortfall/FX differential” – it will not be able to send taxes and royalties to the Federation account for the time being. The state-owned oil firm in Nigeria is still the only importer of fuel, even with the implementation of the Petroleum Industry Act of 2021 and the liberalization of the downstream sector, which allows licensed commercial oil marketers to import petrol. Nevertheless, private marketers have found it difficult to obtain the foreign exchange required for the importation of gasoline, which has left them dependent on the state-owned oil corporation. Over nine months after President Bola Tinubu proclaimed the liberalization of the downstream petroleum sector, over ninety licensed petroleum marketers in Nigeria are no longer in operation because they are unable to import goods because of unresolved price disparities.
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| Crime › “na My Turn To Chop Nor Good For Politics” by CAkpos(op): 12:25pm On Aug 21, 2024 |
In the bustling neighborhood of Ogba, Lagos, I recently encountered a mechanic whose words have since lingered in my mind. As we talked about the challenges of daily life and the state of the nation, he remarked in pidgin, “Na my turn to chop nor good for politics.” This simple, yet profound statement encapsulates a critical issue plaguing Nigerian politics today; the dangerous mentality of self-enrichment at the expense of the public good. The phrase “Na my turn to chop” has become a common and tacit refrain in Nigeria’s political discourse, symbolizing the entitlement mentality that drives many politicians to seek office. For too many, political office is seen not as an opportunity to serve the people, but as a means to personal enrichment. This mentality is often justified by the argument that it is “my turn” to benefit from the spoils of power, as if governance were a relay race in which the baton of corruption is passed from one politician to the next. All latest news here: https://thenews-chronicle.com/na-my-turn-to-chop-nor-good-for-politics/ However, the mechanic’s statement, “Na my turn to chop nor good for politics,” challenges this notion. It is a reminder that this mindset is not only morally wrong but also fundamentally destructive to the nation’s progress. When politics is reduced to a feeding frenzy, the very purpose of governance, to improve the lives of the people is lost. The result is a cycle of poverty, underdevelopment, and social unrest. This culture of “chop” politics manifests in various forms, from the embezzlement of public funds to the awarding of contracts to cronies without regard for competence or public interest. It is a culture that prioritizes personal gain over public service, and it is deeply ingrained in the fabric of Nigerian politics. The consequences of this mentality are all too evident. Infrastructure projects are abandoned halfway, public institutions are underfunded, and basic services like healthcare and education are neglected. Virtually all Nigerians, who depend on these services, are left to bear the brunt of this mismanagement, while those in power live in opulence. Yet, the irony is that this culture of self-enrichment ultimately harms everyone, including those who engage in it. When roads are left in disrepair, even the politician with the latest luxury car cannot drive comfortably. When hospitals are poorly equipped, even those in power must seek medical care abroad, at great expense. In essence, the selfishness that drives “chop” politics creates a society in which no one, not even the politicians themselves, can truly thrive. It is time for a shift in mindset, both among the political class and the electorate. Politics should be about service, not self-enrichment. Leaders should be chosen based on their ability to deliver on their promises and improve the lives of the people, not on their capacity to “chop” the most. The electorate, too, must reject candidates who campaign on the basis of patronage and instead demand accountability and transparency. The mechanic in Ogba was right, “Na my turn to chop nor good for politics.” It is a mentality that has held Nigeria back for far too long. If the nation is to move forward, this culture must be rejected in favor of one that prioritizes the common good over personal gain. Only then can Nigeria truly fulfill its potential and provide a better future for all its citizens. Partisan politics, often referred to as “paddy-paddy politics” and “chop-I-chop politics,” has become a significant obstacle to good governance in Nigeria. This form of politics, where alliances are formed based on personal gain rather than the public good, prioritizes the interests of a few over the needs of the many. It fosters an environment where loyalty to political benefactors takes precedence over accountability to the electorate, leading to decisions that serve the elite rather than addressing the pressing issues facing the nation. Get our latest news: https://thenews-chronicle.com/ The consequences of such politics are evident in the stagnation of critical sectors like healthcare, education, and infrastructure. Instead of implementing policies that would benefit the masses, politicians are more concerned with securing their positions and enriching themselves and their allies. This “chop-I-chop” mentality has led to widespread corruption, with public funds being siphoned off to fund lavish lifestyles while ordinary Nigerians continue to struggle with poverty and lack of basic amenities. Ultimately, partisan politics undermines the very essence of democracy, which is meant to be a government of the people, by the people, and for the people. When politicians engage in “paddy-paddy” alliances, they betray the trust of those who elected them, and the result is a cycle of bad governance that perpetuates inequality and hinders national development. For Nigeria to progress there needs to be a shift away from this destructive brand of politics towards a system that prioritizes the common good and holds leaders accountable to the people.
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| Politics › The Storm Clouds Are Gathering: Towards A Totalitarian State? by CAkpos(op): 2:04pm On Aug 20, 2024 |
The #EndBadGovernance protest, which started on August 1, 2024 and formally ended on August 20, 2024 has continued to raise discussions across the country and beyond, especially within civil society groups. More than 1,400 people who took part in the protest have reportedly been arrested and detained by security agencies with indications that the government is still trying to hunt down suspected sponsors of the protest. One of the important lessons from the protest is that the storm clouds seem to be really gathering towards a totalitarian state – a system characterized by a strong central rule that attempts to control and direct all aspects of individual life through coercion and repression. In political science, totalitarianism is the extreme form of authoritarianism, wherein all power is held by a dictatorial nanny state that promotes group-think through blackmail and propaganda. Group-think, according to the American social psychologist Irving Janis who coined the term, is “the mode of thinking that persons engage in when concurrence-seeking becomes so dominant in a cohesive in-group that it tends to override realistic appraisal of alternative courses of action.” In groupthink, loyalty to the group requires individuals to avoid raising controversial or non-conforming issues and ideas or even alternative solutions. All news here: https://thenews-chronicle.com/ The first lethal blow to liberal democracy by totalitarians is the ‘chilling of speech’. This refers to a situation where individuals or groups refrain from exercising their constitutionally guaranteed freedom of speech (both verbal, and symbolic such as organizing peaceful protests) for fear of running afoul of a law or regulation. The ‘chilling of free speech’ is a form of ‘prior restraint’ (a form of censorship that allows the government to review the content of printed materials to decide whether such should be published or not). When free speech is successfully stifled, even an honest opinion could be construed as an incitement by the totalitarian state which then uses it as a pretext to come after purveyors of the speech it does not like. As the American jurist Wendell Holmes famously put it in Gitlow v New York (1925), “Every idea is an incitement… The only difference between the expression of an opinion and an incitement in the narrower sense is the speaker’s enthusiasm for the results”. Totalitarians come in different guises, usually rationalizing their desire to chill free speech by hiding under higher values. A good example is the ‘end of politics’ sycophants in the Tinubu government. This is an overzealous but self-serving group which, in the wake of the Supreme Court affirmation of Bola Ahmed Tinubu as the President after the controversial 2023 presidential election, began an aggressive quest to muzzle free speech by those they consider as opposition elements. They did so (and still do) using various mantras such as “the time for politicking is over, it is now the time for governance” or “the President should be allowed to concentrate on governance”, the “President should not be distracted”, “those who lost elections should wait until 2027” etc. The irony is that the advocates of “the end of politics” are themselves being political. They are either trying to stifle the voices of opposition or blackmail critics of the government, both of which are needed in a democracy to keep the government on its toes for optimal performance. Ironically, some members of this in-group flaunt their ‘democratic credentials’ by constantly reminding us of their roles in the struggle for the revalidation of MKO Abiola’s mandate. The truth is that not all who partook in the noble struggle to re-validate MKO Abiola’s mandate were democrats. Some were drawn into the struggle by different motives, including defence of ethnic pride. Just like the DSS infamously went after people who expressed an honest opinion of supporting an interim government after the 2023 elections and sought to blackmail the public into believing that such expressions of honest opinion amounted to intentions to commit treason, the ‘end of politics’ zealots, (many of who are linked to the government), are going overdrive to criminalize protest. I fail to see any crime not just in peaceful protests but also in the ‘sponsorship’ of such protests – which is actually a way of encouraging citizens to become active participants in the political process. And talking of sponsorship, are various state agencies such as the National Orientation Agencies and others that provide myriad forms of political enlightenment campaigns not also engaging in ‘sponsorship’ when they devise schemes for citizens to identify more with the government of the day, including funding pro-government or counter-protests? The only difference is that while one group is presumably ‘sponsored’ to voice its displeasure with the government (which is constitutionally allowed), another group is ‘sponsored’ to identify with the government of the day. Of course, supporting citizens to become active participants in the political process through ‘sponsoring’ peaceful protest must be distinguished from sponsoring an insurrection or encouraging violent protest or vandalizing people’s property, which is condemnable. In the run-up to the protest, Bayo Onanuga, who had in the aftermath of the 2023 presidential election in Lagos proclaimed himself a Yoruba irredentist and weaponized ethnicity, accused Peter Obi of being the secret sponsor of the #EndBadGovernance protest. Others linked to the government have also variously accused Atiku Abubakar, the North, some Senior Army officers from the North, the Igbos and foreign interests of being the sponsors of the protest. There was also a threat to start a campaign for Igbo Must Go from August 20 2024 to force the Igbos to vacate Lagos and all the states in the South-west (so far no arrest has been made about the sponsors of the genocidal campaign). Recently, the Speaker of the House of Representatives, Tajudeen Abbas, introduced a so-called Counter Subversive Bill 24 (now withdrawn), which proposed harsh penalties for Nigerians who refuse to recite the national anthem, destroy national symbols, or deface places of worship or who organize “an unlawful procession”. I see all these as gangster methods of chilling speech through the spreading of fear across the camps of opposition forces. Once free speech is successfully chilled, our current liberal democracy, as imperfect as it is, would be further corrupted into George Orwell’s dystopian account of a totalitarian state in his book, ‘Nineteen-Eighty-Four’. Since the price of freedom is eternal vigilance, it is important that anti-democratic forces, in whatever guises they come, are not allowed to gain an upper hand. It is germane to note that the very First Amendment to the American Constitution in 1791 was to protect freedom of speech, the press, assembly, and the right to petition the Government for a redress of grievances. This is because free speech, and the marketplace of ideas which it creates, is the foundational structure of democracy. Without it, democracy dies. ____________ To be continued next week Jideofor Adibe is a Professor of Political Science at Nasarawa State University, Keffi and founder of Adonis & Abbey Publishers. He can be reached at: pcjadibe@yahoo.com or 07058078841 (WhatsApp or text messages only). 1 Share
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| Crime › Soldier Nabbed In Borno For Alleged Possession Of 485 Rounds Of Ammunition Hidde by CAkpos(op): 12:25pm On Aug 20, 2024 |
Soldier Nabbed In Borno For Alleged Possession Of 485 Rounds Of Ammunition Hidden In Cartons According to reports, a Nigerian soldier, identified as Sergeant Saad Adamu, with service number 05NA/56/385, has been arrested in Borno State for alleged possession of illegal ammunition. It was gathered that Sergeant Adamu was found with 485 rounds of 7.62mm special ammunition and two magazines hidden within cartons of dry fish. All Stories here: https://thenews-chronicle.com/soldier-nabbed-in-borno-for-alleged-possession-of-485-rounds-of-ammunition-hidden-in-cartons/ The incident which took place at Njimtilo, along the Damaturu-Maiduguri Road, revealed that Sergeant Adamu, who is a personnel of the 3 Division Ordnance Services (3 DOS), left his unit in Jos and travelled to Maiduguri without official leave. During preliminary investigations, Adamu allegedly confessed that the ammunition was supplied to him by Sergeant Dalhatu Murtala, with service number 07NA/60/0940, the armorer of the 19 Brigade Garrison in Baga. The seized ammunition included 313 rounds of 7.62mm PKT ammo, 172 rounds of 7.62mm special ammo, and two magazines. The items were reportedly concealed in a Bagco bag mixed with cucumbers and dry fish cartons. For all latest news: https://thenews-chronicle.com/ Meanwhile, the suspects and the recovered items are currently in the custody of the 7 Division Provost Group for further investigation. 1 Like 1 Share
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| Politics › Borno State Governor Zulum Oversees Federal Food Relief Distribution by CAkpos(op): 12:13pm On Aug 20, 2024 |
Borno State Governor Zulum Oversees Federal Food Relief Distribution to Over 10,000 Families in Mafa Borno State Governor, Babagana Umara Zulum, personally supervised the distribution of food relief provided by the federal government to more than 10,000 families in Mafa Local Government Area. The relief effort took place on Tuesday, across four designated centers in Mafa town, which serves as the administrative headquarters of the local government. All Stories here: https://thenews-chronicle.com/borno-state-governor-zulum-oversees-federal-food-relief-distribution-to-over-10000-families-in-mafa/ During the distribution, each household head received a relief package that included a 50kg bag of maize grain, an essential staple in the region. The governor expressed deep gratitude to the federal government for its timely intervention, which aimed to alleviate the ongoing hardship faced by many residents in the state, particularly in areas affected by insecurity and displacement. Zulum emphasized the importance of this support in sustaining the livelihoods of families in Mafa and highlighted that similar distributions of food aid had already taken place in other affected areas, including Gwoza and Nganzai. The governor reaffirmed his administration’s commitment to working closely with federal authorities to ensure that relief efforts continue to reach those most in need. Get latest News from here: https://thenews-chronicle.com/ This initiative is part of a broader strategy by both the state and federal governments to provide critical assistance to vulnerable communities across Borno State, as efforts to restore peace and stability in the region continue.
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| Politics › Former Adamawa Senator Reveals Senators Now Earn N29 Million Monthly, Argues It’ by CAkpos(op): 1:43pm On Aug 19, 2024 |
Former Adamawa Senator Reveals Senators Now Earn N29 Million Monthly, Argues It’s Insufficient Former Senator for Adamawa North, Ishaku Elisha Abbo, recently disclosed during an interview with Arise TV on Monday, that during his time in the Senate, he earned N14.4 million monthly. However, he noted that current senators now receive a monthly sum of N29 million. This figure, according to Abbo, includes a salary of N1 million plus allowances. All Stories Here: https://thenews-chronicle.com/former-adamawa-senator-reveals-senators-now-earn-n29-million-monthly-argues-its-insufficient/ Despite the significant increase in senators’ earnings, Abbo argued that the N29 million is relatively modest considering the vast responsibilities and demands placed on members of the Upper Chamber. He highlighted that in comparison, state governors reportedly earn between N700 million and N1 billion every month, which he believes dwarfs the earnings of senators. “I am paying a lot of people’s scholarship in my office, I am subsidizing some people’s life in my office, while a state governor in this country is going home with over N700 million every single month, some go home with N1 billion.” In the interview, Abbo emphasized that while the figure of N29 million might appear substantial on paper, it does not accurately reflect the financial strain associated with the role. He described the amount as inadequate, especially given the myriad of challenges and expectations that senators face. Reflecting on his time in the Senate, Abbo shared that his combined monthly salary and allowances amounted to approximately N14.4 million. He compared this with his earnings as a private citizen, where he had been the Managing Director and CEO of a company he founded. After winning the election, he had to step down from his role in the company to take up his responsibilities as a senator, which, according to him, led to a significant reduction in his income. “When I was in the Senate, my monthly salary and allowances put together was about N14.4 million, and at the end of the month, the company I founded, which I was the managing director and CEO, when I won the election, I had to leave the company to go into governance, I had to start subsiding my own life.” Abbo explained that the N14 million allocated to his office was insufficient to meet the demands placed on him by constituents from Adamawa State and beyond. He recounted how his office was frequently visited by people seeking financial assistance for various needs, including scholarships and other personal expenses. The pressure was so intense that he often had to reach out to state governors to assist with requests originating from their states. All News in Nigeria and States here: https://thenews-chronicle.com/
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| Crime › Pain, Anguish As Remains Of Youth Leader Killed Enroute Abuja By Gunmen Arrives by CAkpos(op): 12:50pm On Aug 19, 2024 |
Pain, Anguish as Remains of Youth Leader killed enroute Abuja by Gunmen arrives Anambra Anambra State Commissioner for youth development, Hon Patrick Aghamba who was kidnapped last Friday, alongside his wife has been reportedly released. Aghamba and his wife were taken by gunmen on Friday while traveling in a commercial vehicle to Abuja for the wedding of the daughter of the governor of the state, Prof Chukwuma Soludo. Details of the release is not clear yet, but sources said they was released on Saturday night. According to a close friend, Uche Nworah, who took to his facebook page: “Great news. Kidnapped Anambra Youth Commissioner Aghamba and his wife have been released. To God be the glory.” It was however difficult to ascertain the veracity of the news, at the time of filing this report, as both the Press Secretary to the governor, Mr Christian Aburime and the spokesperson for Anambra State Police command, SP Tochukwu Ikenga were yet to reply to messages sent to them. All Stories here: https://thenews-chronicle.com/pain-anguish-as-remains-of-youth-leader-killed-enroute-abuja-by-gunmen-arrives-anambra/ Meanwhile, there was wailing in Onitsha on Sunday as the corpse of an aide to youths Commissioner, who was killed on his way to Abuja on Friday arrived his country home Onitsha. The Commissioner’s aide Hon Ernest Offiah, had travelled alongside him, but was shot dead, when the gunmen attacked the Sienna bus in which they were travelling. The corpse of Offiah, a lawyer from Onitsha, who holds the traditional title of Kpajiego, which was returned on Sunday, elicited wailing from indigenes.The victim was also said to be a youth leader. A video obtained by TNC correspondent showed the moment an ambulance arrived Onitsha with Offiah’s corpse, leaving everyone devastated. Family members who had hitherto, refused to believe the shocking news of Offiah’s demise, were seen wailing and raining curses on the killers and asking the deceased not to rest until he had avenged his death. Read more: https://thenews-chronicle.com/
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| Politics › Will The National Assembly Ever Come Clean? by CAkpos(op): 12:25pm On Aug 19, 2024 |
Nigeria’s second arm of government, the Legislature, is in the eye of the storm again! Tongues keep wagging the National Assembly basically on two issues that keep recurring. The first has to do with its salaries, allowances, emoluments and perquisites, which many believe are out of this world and out of tune with realities. The second is how effectively and diligently it has performed its oversight functions on the Executive arm of government. Many Nigerians are more concerned with the first than the second. Complaints about the humongous take-home of the National Assembly members have always been a sore point for Nigerians who cannot see what service the legislators are rendering to justify their huge pay. Besides, the country is said to be too poor to pay the law makers salaries that are far superior to what the developed countries and advanced democracies pay their own law makers. All Stories here: https://thenews-chronicle.com/will-the-national-assembly-ever-come-clean/ Hence, various derogatory names have been given to our senators and honourables, one of which is legislooters. With cries of “we are hungry” all over the place, the groundswell of opinion is that it cannot be business as usual for the National Assembly members. But rather than thaw, the coconut leaf of the legislators hardens furthermore. How can our leaders live life to a hilt while preaching to the generality of the people to tighten their belt and accept austerity measures? Why is it that what is good for the goose is not also good for the gander? The fire of controversy was stoked again by the revelation of a sitting senator that he earns N21m per month – and he is not even a principal officer! Which means that the principal officers must be earning every month something way ahead of that. A news medium reported the squealing senator thus: “The lawmaker representing Kano South, Senator Sumaila Kawu, has revealed that he earns over N21m monthly as a total take-home package. This revelation is coming barely 24 hours after the Revenue Mobilization Allocation and Fiscal Commission had said that each of the 109 senators in the upper chamber receives a total of N1.06m in salary and allowances per month. The RMAFC chairman, Mohammed Shehu, said this as a form of clarification in response to recent controversies over the real amount each lawmaker earns per month. Based on Shehu’s disclosure, it would mean each lawmaker earns N12.72m in 12 months and the Federal Government incurs a total expenditure of N1.4bn annually on all senators. “A breakdown of their monthly earnings revealed that each Senator collects a monthly salary and allowances of N1,063,860, consisting of a basic salary of N168,866:70; motor vehicle fueling and maintenance allowance, N126,650:00; and personal assistant allowance, N42,216:66. Others include domestic staff, N126,650:00; entertainment, N50,660:00; utilities, N50,660:00; newspapers/periodicals, N25,330:00; wardrobe, N42,216,66:00; house maintenance, N8,443.33:00; and constituency allowance, N422,166:66. complete content in : Read more: [url]https://thenews-chronicle.com/will-the-national-assembly-ever-come-clean/[/url]
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| Politics › Food Prices Continue To Drive Nigeria’s Headline Inflation by CAkpos(op): 11:21am On Aug 19, 2024 |
It is no longer news that Nigeria’s headline inflation on year- on- year basis declined for the first time since December 2022. According to the National Bureau of Statistics, it dropped to 33.40% in July 2024 from 34.19% in June 2024. It is no fluke as the month-on-month headline inflation declined consistently since March 2024, with June 2024 as an exception. It is important to note that inflation only started to decelerate after the Central Bank, at its first Monetary Policy Meeting of 2024, held on the 26th & 27th of February 2024, the benchmark interest rate, by 400 basis points from 18.75% to 22.75%. It made subsequent increases, as need arose. The benchmark interest rate is currently 26.75%. All Stories here: https://thenews-chronicle.com/food-prices-continue-to-drive-nigerias-headline-inflation/ Interestingly, from January to July 2024, food and non-alcoholic beverages inflation contributed to no less than 51.8% of the headline inflation on a year-on-year basis. In July 2024, it contributed to 17.3% of the 33.4% headline inflation rate. The headline inflation rate was lowest in January when food inflation was also at its lowest. Therefore, reducing food inflation is key to the government’s long-term goal of driving inflation to single digit. It is not strait jacket as various factors, some of which are interwoven, have contributed to food inflation in Nigeria. The rising cost of farming and transporting food commodities to the point of sale has affected the final price of food items. For example, the cost of animal feed, veterinary services, energy, fertilizer, seedlings, machinery & spares, and fuel has risen since the removal of the fuel subsidy and the floating of the naira by the government. Insecurity, which has caused many farmers to abandon their farmland, has led to a decrease in farm produce, causing shortages, especially during the dry season. This has encouraged hoarding and profiteering, with food prices skyrocketing. Food availability was also impacted by the increased demand for our farm produce from neighbouring countries as the devaluation of the naira, made them cheaper. It is likely that, in the immediate future, headline inflation will experience more decline but not necessarily on a straight-line basis, because the implementation of the new national policy is expected to increase household spending and raise the cost of producing/offering goods and services as employee wages increase. The Central Bank of Nigeria may be tempted to raise interest rates to slow demand and encourage savings. Also, with the harvest season commencing and the implementation of waivers on tariffs & duties on some essential imported food items, food prices are expected to drop. The recent mobilization of ten thousand agro-rangers by the Civil Defence Corps to secure farmlands across the country, if effective, is expected to encourage people to return to their farms and, in the long run, increase food production in the country. However, the recent fluctuation in the value of the Naira is likely to impact headline inflation in subsequent months.
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