Iwaeda's Posts
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He is avoiding billings and village people. ![]() |
He looks stressed, frayed and over burdened. ![]() |
They only talk when they leave offices. APC need to be flushed out. ![]() |
When we talk now, they call us names. Tinubu is a failure. It has shifted to Edo from Kwara. ![]() |
The wife looks familiar. I love the guy. I saw his skits, the one where he said he doesn't know how beautiful his children are moved me. ![]() |
Village people both ways. ![]() |
The problem of baby mama. Obi Cubana should do the needful, not like K1 who abandoned the boy with actress I will not name. ![]() |
Suspected bandits have attacked a wedding convoy in Unguwar Nagunda, Kankara Local Government Area of Katsina State, killing at least two people and injuring several others.https://saharareporters.com/2026/01/12/bandits-attack-wedding-convoy-katsina-kill-two-injure-bride-abduct-guests
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Waiting for how to cook the book again. They will drop it to 13.9% ![]() |
The National Bureau of Statistics is set to engage stakeholders ahead of the release of the inflation data for December. This stakeholders meeting is scheduled to be held on Monday amid multiple projections that the disinflationary trend would be halted temporarily in December over year-end spending and waning base year effects. The PUNCH reported that CardinalStone projected that the headline inflation would come to 32.07 per cent. However, this jump in inflation is expected to be temporary and reversed in January 2026. Similarly, Coronation Asset Management also expected a reversal of the current disinflationary trend in December, projecting a sharp rise in inflation at year-end. The firm attributed the expected increase largely to base-year effects. “For December, we expect a reversal of the current disinflationary trend, with inflation projected to rise sharply at year-end, largely reflecting a statistical base-year effect. On a month-on-month basis, we expect an uptick in headline inflation to persist, reflecting sustained festive-season demand pressures, elevated transport activities associated with holiday travel, and continued cost pass-through from higher logistics and service-sector prices. In addition, food prices are likely to remain under upward pressure as a result of tighter market supplies, insecurity in key producing regions, and increased Yuletide consumption,” Coronation stated in its macroeconomic update. AIICO Capital, in its macroeconomic update on Friday ahead of the inflation figure release, reiterated that the base-year effect, combined with festive spending, is expected to halt the disinflationary trend in December, with the headline CPI expected to be in a range of 31.4–32.4 per cent year-on-year. Substantiating its projections, AIICO Capital said, “Our position is based on the base year effect on the components of the headline inflation, core and food inflation, as well as festive season spending on the overall price in December. Our analysis indicates that core inflation, which reflects changes in the average price of non-farm produce, is expected to ease by a minimum of 10bps to 1.0–1.2 per cent m/m and increase by a minimum of 1510bps to 32.50–32.60 per cent year-on-year. “The month-on-month easing is expected to be driven by two major factors: naira appreciation and reduced petrol price in December. Notably, the naira appreciated by 76 bps (N10.98 per USD) to N1,435.76 per USD at the official window, although it depreciated marginally by 34 bps (N5.00 per USD) to N1,475.00 per USD in the parallel market. In addition, average petrol prices declined by 14.7 per cent, from N890 per litre to N759.5 per litre, following a 16 per cent reduction in gantry prices to N699 per litre by a major domestic refiner, Dangote Refinery.” Calling on stakeholders to attend the engagement, the Nigerian Economic Summit Group, in an email, said, “Inflation has remained one of the most critical macroeconomic indicators globally. In Nigeria, following the CPI rebasing in 2025, the inflation has moderated to 14 per cent in November 2025. Anticipation in some quarters suggests strong expectations that the December 2025 inflation figure could record an artificial spike arising from base effects associated with the arithmetic computation of the inflation rate.” The private sector think tank added that the expected spike in inflation for December does not reflect a deterioration in underlying structural or economic conditions; “Rather, it is a consequence of the computational methodology. These expectations, if not well understood, risk heightening uncertainty, weakening confidence in official statistics, and complicating policy and business decision-making. “The National Bureau of Statistics, as the custodian of Nigeria’s official inflation data, plays a vital role in ensuring transparency, methodological clarity, and stakeholder confidence in the Consumer Price Index. Given heightened inflation expectations, it is important to engage technical stakeholders ahead of the release of the December 2025 CPI to discuss inflation dynamics, data trends, and the interpretation of outcomes. “Accordingly, there is a need to proactively sensitise and engage data users and key stakeholders on what to expect, as well as to clearly communicate how the National Bureau of Statistics intends to address and contextualise this outcome.” The PUNCH reported that in early 2025, the National Bureau of Statistics rebased the Consumer Price Index with the price reference period updated to 2024 from 2019. The NBS averred that the rebasing reflects current price volatility and provides a clearer understanding of economic trends in Nigeria. https://punchng.com/nbs-meets-stakeholders-ahead-of-december-inflation-report/ |
Interestingly I was looking at this picture over the weekend and I doubt in the 80s, this type of suit exist. People that can use Donald Duke's picture. What else they can't forged. ![]() |
Tinubu doesn't know what he is doing, how can government be releasing 70 bandits to continue destroying others. They kill and get pardon. ![]() |
Wike only barking. ![]() |
Barcelona 3 Real Madrid 2. Raphinaaa again. ![]() |
Barcelona 2 vs Madrid 2. ![]() |
Barcelona 2 Madrid 1. Lewandonski ![]() |
Barcelona 1 vs Madrid 1. ![]() |
BondRiv:Fubara CAN NOT be impeached. ![]() |
Barca scored 1-0. Raphina. ![]() |
Law of life, Wike. ![]() |
Team Best team. Temper will fly. ![]() |
Manchester DisUnited 0 Brighton 2. ![]() |
Nlfpmod, in Gbenga Adeboye's voice, Ija sese bere. ![]() |
Aspire to perspire brother. Good evening. ![]() |
Who will save Manchester disunited? Hope they score. ![]() |
The Rivers State House of Assembly has raised the alarm over what it described as a plot by some persons linked to the executive arm to procure a court order stopping it from performing its functions.https://dailytrust.com/rivers-assembly-no-court-order-can-stop-fubaras-impeachment/?noamp=available
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Nlfpmod. ![]() |
Morocco 1 vs Nigeria 2. Final. ![]() |
Atiku is the Next President,Obi VP. ![]() |
Only my children knows the anthem, sang it last in the days of aluta. ![]() |
The Federal Government has proposed to spend N6.04 billion on personnel costs for Ajaokuta Steel Company Limited in the 2026 fiscal year, even though the steel complex has remained non-operational more than four decades after it was conceived. Data from the 2026 Appropriation Bill shows that the company was allocated a total of N6.69 billion for the year, with personnel expenses alone accounting for about 90.4% of the entire provision. The structure of the allocation reinforces Ajaokuta’s long-standing role as a non-producing public enterprise sustained largely by salary payments rather than industrial activity. What does the 2026 proposed budget show Nairametrics observed that of the N6.04 billion earmarked for personnel, N4.79 billion is for salaries and wages, while N1.25 billion is set aside for allowances and statutory social contributions. These include N479.42 million for employer pension contributions, N239.71 million for NHIS payments and N59.82 million for employees’ compensation insurance. Regular allowances alone amount to N468.9 million. A closer look at the proposed 2026 budget shows a sharp imbalance between recurrent and capital expenditure. Total recurrent spending for Ajaokuta stands at N6.28 billion, while capital expenditure is limited to N410.8 million. This means that less than 7% of the company’s total allocation is directed towards assets, rehabilitation or infrastructure. The capital budget itself is thinly spread across minor items. Fixed asset purchases such as computers, printers and security equipment account for N56.4 million. Construction and provision of facilities take N129.2 million, while rehabilitation and repairs are allocated N225.2 million, largely for electricity-related works and office buildings. These figures highlight how little funding is being channelled toward reviving a heavy industrial complex originally designed to anchor Nigeria’s steel and manufacturing value chain. Year-on-year trends show persistence, not reform An examination of recent budget trends shows that the 2026 figures represent continuity rather than reform. In 2024, personnel costs at Ajaokuta stood at N4.29 billion. This jumped to N6.21 billion in 2025, representing a 44.8% increase despite the absence of production. The proposed N6.04 billion for 2026 reflects only a marginal 2.7% reduction from the previous year. While the slight decline may appear like restraint on paper, it does not alter the underlying structure of spending. Salaries continue to dominate the budget, while capital investment remains compressed, confirming that staff remuneration remains the core priority rather than steel output. Zero revenue and dependence on federal payments The budget document indicates that Ajaokuta is projected to generate zero independent revenue in 2026 and will receive no grants. This leaves the company fully dependent on federal subventions for survival. Despite this, it continues to feature in constituency-style capital projects such as solar street lighting in parts of Niger East and Kwara North, water facilities, road repairs, security lighting and grants to market women and youths. These projects, although ongoing, are not linked to steel production or industrial capacity and do little to change the company’s non-operational status. However, separate from Ajaokuta’s own allocation, the proposed 2026 budget includes provisions for revival-related activities under the Federal Ministry of Steel Development. The ministry allocated N150.99 million for the revitalisation of Ajaokuta Steel Company Limited and the National Iron Ore Mining Company, classified as an ongoing capital project. Also, N1.06 billion was set aside for project preparation aimed at investment mobilisation for Ajaokuta. This covers feasibility studies, Environmental and Social Impact Assessments and financial modelling. While these signals continued planning activity, it also shows that spending remains concentrated on preparatory work rather than physical recommissioning. The 2026 provisions are notably lower than in 2025, when the ministry budgeted N2.41 billion for project preparation and N250.98 million for revitalisation of Ajaokuta and NIOMCO. The decline points to a 56% drop in project preparation spending year on year, even as the steel complex remains idle. What you should know Conceived in 1979 as Nigeria’s flagship industrial project, the Ajaokuta Integrated Steel Complex was expected to reduce steel imports, drive industrialisation and support economic diversification. More than 40 years later, budget allocations suggest it functions largely as a payroll institution, with successive governments funding salaries while production remains at zero. On its website, the company says it employs about 3,000 workers and claims that full commissioning could directly engage about 10,000 staff, with upstream and downstream industries potentially supporting up to 500,000 jobs nationwide. For now, the proposed 2026 budget figures show a steel plant sustained by recurrent spending, with revival still confined to studies and plans rather than output. https://reubenabati.com.ng/feature/fg-budgets-n6-04-billion-for-ajaokuta-staff-in-2026-despite-zero-output |
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