₦airaland Forum

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....he must vomit the tradermoni he diverted

Twitter founder Jack Dorsey says the effects of the U.S. dollar inflation is being negatively felt by Nigeria and other developing countries.

On Tuesday, Mr Dorsey made his comments in response to the White House, saying it expects a hike in its inflation and to the United States printing its currency over the past years.

“You don’t understand the power of the dollar and our single export. Ask someone in Nigeria how the dollar affects them,” Mr Dorsey said in a tweet.

In February, the U.S. consumer price index showed that inflation rose above 7.9 per cent last year, the highest level since 1982.

“We expect March CPI headline inflation to be extraordinarily elevated due to Putin’s price hike,” said White House press secretary Jen Psaki ahead of March’s report.

The Bloomberg Dollar Spot Index noted that dollar rose as much as 0.4 per cent reaching a level unseen since July 2020. This has affected third world countries like Nigeria which imports goods in dollars.

In February, the National Bureau of Statistics said Nigeria’s inflation rate rose from 15.6 per cent to 15.7 per cent.

The Naira has been in free fall under the Buhari-led regime, currently trading at N417.00/$1 at Nigeria’s official foreign exchange market, Investors and Exporters (I&E) and at N586 at the parallel market.

https://gazettengr.com/u-s-dollar-inflation-badly-affecting-nigerians-jack-dorsey/

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He has embezzled the necessary funds to do the impossible!

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?

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The Economic Community of West African States (ECOWAS) has said that Nigeria now has 3.3 million people displaced by various crisies rocking the country.

Speaking at the opening ceremony of the stakeholder workshop on the Best Practices for Stabilization in West Africa, the Vice President of the ECOWAS Commission, Madam Finda Koroma, said the issue of displacement in the region needs to be addressed.

She said: “We also need to address the crisis of displacement. For instance, Burkina Faso has experienced an explosion in its forced displacement crisis because of militant Islamist group violence originating in Mali. Its current 1.2 million displaced population represents a nine-fold increase from 2019.

“Additionally, violent attacks by Boko Haram in the Northeastern in Nigeria, have resulted in the displacement of 2.5 million Nigerians, whilst kidnappings, extortion, and organised criminal attacks in the Northwest have displaced an additional 800,000 people.

“We need to find a way to return these communities to their homes, safely.”

She added: “It is against this backdrop that ECOWAS Commission, in partnership with development organisations and governments, have embarked on an ambitious journey of introducing interventions designed to stabilise conflict affected areas, address the root causes of insecurity, and set them on the path for sustainable development through recovery and building community resilience.

“In partnership with the German government, we have established the ECOWAS Fund for Regional Stabilisation and Development in fragile member states. The objective of this programme is to stabilise conflict affected communities through provision of sustainable economic opportunities and essential services for conflict affected communities, construction or rehabilitation of key national infrastructure and capacity building for governance and security institutions.”

Koroma noted that ECOWAS Stabilisatiom Programme was launched in The Gambia as a pilot project and in 2020, Guinea Bissau, Niger and Mali form part of the first phase of the regional project.

https://dailypost.ng/2022/04/12/displaced-persons-in-nigeria-now-3-3-million-ecowas/

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Sai Petroleum Minister.....

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The Organisation of the Petroleum Exporting Countries (OPEC) has said Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March 2022.

OPEC made this known in its Oil Market Report for April 2022 which was obtained by the News Agency of Nigeria ( NAN) on Tuesday in Lagos.

The report said the figure showed a decrease of 24, 000 barrels per day when compared to the 1.378mb/d produced averagely in the month of February 2022.

“According to secondary sources, total OPEC-13 crude oil production averaged 28.56 mb/d in March 2022, higher by 57 tb/d month-on-month.

“Crude oil output increased mainly in Saudi Arabia, Kuwait and the United Arab Emirates while production in Libya, Nigeria and Congo declined,” it said.

The report noted that following a contraction of 1.8 per cent year-on-year in 2020, Nigeria’s economy expanded by 3.6 per cent in 2021.

It said this economic recovery was most likely to continue over the course of 2022 with support from improvements in the hydrocarbons sector and energy prices.

The report said: “Recent official data suggested that the annual inflation rate edged up slightly to 15.7 per cent in February 2022 from 15.6 per cent in January 2022, although food inflation remained elevated.

“Indeed, higher food costs related to geopolitical tensions could further fuel inflation.

“In March 2022, the overall business improvement softened as Stanbic IBTC Bank Nigeria’s Purchasing Managers’ Index suggested, indeed it dropped to 54.1 from 57.3 in February.

“Yet, the overall prospects for Nigeria’s short-term economic outlook remain positive, despite concerns over inflationary pressures amid disruptions to global trade flows and supply shortages.”(NAN)

https://thenewsnigeria.com.ng/2022/04/12/nigerias-crude-oil-production-dropped-to-1-354mb-d-in-march-opec/

Stubborn man.....face your problems!

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(See me, see trouble....)

Nigeria needs a 'Wike d' man to fight the bandits, jihadist and herdsmen....

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Amaechi has tried for his people......

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.....in the North!

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See as the light is lopsided......and wall patch up.

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.....just like his projects in Imo.

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Tragic....

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.....and timely.

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Alhaji Rotimi Amaechi.....

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Aka..............WaZoBia!

What economy?

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.....its only banditry and kidnapping reigning in nigeria.

Jesu....

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...the cold war just got colder,

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Your current employer has 'locked' your destiny....

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...yet we dont feed our dogs!

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Collection of thieves,,,,,

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...this thing can fly in dense forests?

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.....see as the camera dey small and unsophisticated!