₦airaland Forum

Salewa97:
Yes o, Tinubu na real oga! He dey do all he can to help the citizens in these times of hardship. God bless am!

The Country Director of World Bank, Dr. Shubham Chaudhuri, has applauded President Bola Tinubu’s policies on subsidy removal and the subsequent palliative measures announced to cushion the effects.

Chaudhury said this while fielding questions from journalists during a symposium jointly organized by the Department of Agricultural Economics, Faculty of Economics and Management Sciences, and the Nigerian Institute of Social and Economic Research (NISER).

The symposium which had Chaudhury as its lead discussant was , titled, ‘Economic opportunity pathways to navigating post-reform challenges in Nigeria,’ was held at the University of Ibadan, Oyo State on Friday.

The World Bank Country Director noted that the whole measures taken by the presidency on his first day was the right thing to do, although “a lot more that needs to be done”.

While noting that there is a need to be more transparent on the mechanism of the palliative distribution, Shubham mentioned that the key role is the quick delivery of the relief packages.

He said: “It is really about making the best possible use of the revenues that will now flow to the federation but in a way that the ordinary people can get some relief because it has been hard with the prices increasing. We think that a package of things; cash transfers, help with mass transport vehicles, school fees, help for farmers and a whole package of things rolled out as quickly as possible in a way that the Nigerian people can actually see and feel that there is accountability is what is needed.


“We stand ready at the world Bank to help on this and we look forward to working closely with all stakeholders” He disclosed.

He charged the Nigerian people and especially the civil societies and elites to follow through in order to ensure that what has been announced is actually distributed to the right people who needs it.

The Vice-Chancellor, University of Ibadan, Prof. Kayode Adebowale, stated that the discussion was timely especially now that Nigeria is going through challenges.

According to the Head of the Department of Agricultural Economics, UI, Prof. T. T. Awoyemi, also contributed to the discussion saying that this is not a time to carry out policies in the usual ways but to be sincere and infuse a lot of discipline in the process.

He also mentioned the need for all to make sacrifices to ensure that the implementation of the transformation agenda becomes fruitful.

Anthonia Simbine; the Director-General of NISER noted that the many problems of the country could be overwhelming, however a proper management of the problems would guarantee some positive changes which would improve the lives of the people.

She also said that the Nigerian problems have a historical background which makes it difficult to overcome overnight.


“The government of today are taking some steps that really should have been taken well before now. Nevertheless, now that the steps have been taken, the people need to be a bit more patient and we need to also support the same people with many mechanisms for managing the situations that they find themselves in.”

Tochi3:
The only people not yet shcocked are the emilokans

ican2020:
That shows how NEC are detached from the citizens

newsblendanews:
https://www.lindaikejisblog.com/2023/8/lagos-socialite-farida-sobowale-of-house-of-phreeda-rescued-after-attempting-to-commit-sucde-on-third-mainland-bridge-video.html

SenatePresdo:
As if he doesn't know that removal of fuel subsidy will cause inflation? Person wey dey raise two hands up during anthem no get sense normally sha.

Keep the shocks coming just like Buhari he will get more shocks.

He said he would continue from where Buhari stopped, and we are seeing it.

IconicR:
Nigerians are not even helping matters , the way they increase the price of whatever they are selling is evil.
Before you condemn the government please look inwards and do the needful as well.
May God ease our affairs.

The National Economic Council, NEC, yesterday expressed shock over the high cost of food and transportation in the country.

Consequently, it approved N5 billion grant to each of the 36 states of the federation for the procurement of grains as well as five trucks of rice to each state as palliatives to cushion the effect of fuel subsidy removal.

The NEC also approved the distribution of 40,000 bags of maize to be distributed to states, and directed the National Emergency Management Agency, NEMA, to distribute food items to states sharing border with Niger Republic over the recent political instability in the country.

These were among the outcomes of the NEC meeting presided over by Vice President Kashim Shettima, at the Council Chamber, Presidential Villa, Abuja.

Briefing State House correspondents at the end of the meeting, Governor Babagana Zulum of Borno State said the approval of N5 billion and trucks of rice and grains were part of measures to bring temporary solutions to the high cost of living caused by subsidy removal as government continued to work with more enduring programmes.

Zulum, who disclosed that states were mandated to purchase 100,000 bags of rice and beans, among other items, said: “NEC met today (yesterday) and expressed serious concerns as regards increasing cost of food items, increasing cost of transportation, among others, as a result of subsidy removal.
“In order to cushion the effect of subsidy removal, the federal government released five trucks of rice to each state last week.

“Furthermore, in order to cushion the effect of food shortages across the country, the federal government has approved the sum of N5 billion to be given to each state for the procurement of 100,000 bags of rice, 40,000 bags of maize and fertilizers.

“This funding has to be shared with a formula as follows: 52 per cent of this money is given to states as grants, while 48 per cent of the N5 billon is to be paid back on an instalmental basis within a period of 20 months to the CBN (Central Bank of Nigeria) by the states and local governments areas in Nigeria.

“The Council commended the efforts of the federal government, under the leadership of President Tinubu, as well as the CBN. We have also commended the efforts of NEMA in cushioning the effects of the subsidy removal.

“Council has taken bold decisions to ensure speedy release of grains and other items in order to cushion the effects of subsidy removal on the less privileged in the society.

Subsidy as banana peel

“Council has also taken note of the $800 million loan and insist that it be strictly used for intended purpose and based on accurate and acceptable register. The $800million announced by the president will go to Nigerians in accordance with an accurate social register.

“Furthermore, Council has also noted the package that was announced by the president in order to cushion the effect of subsidy removal, amounting to about N500billion.

“This fund has to be distributed to the following sectors, including MSMEs, industrial sector. About N125 billion will go for cash transfers, agricultural sector as well as gas expansion for buses.

“Because of the increasing cost of fossil fuel, the federal government intends to establish more gas stations in Nigeria, procure more gas-powered, CNG, buses, as well as electric buses in order to cushion the effect of subsidy removal.

“NEMA will also liaise with states to distribute foodstuffs to the people immediately, especially those affected in the frontline states that are bordering Niger Republic because of influx of refugees.

“The Council also tasked states to dialogue with the labour unions’ leadership. A committee made up of Anambra State governor, Charles Soludo, NGF Chairman, Governor Abdulrazaq Abdulrahman and others have been nominated to interface with labour.

“The most important thing the Council has taken note of is that all these palliatives that are being mentioned now are temporary solutions. Council has decided to invest in medium and longer term, sustainable solutions that will ensure availability of food and non-food solutions in Nigeria, especially investing in commercial agriculture and also irrigated agriculture.

“NEC is calling on Nigerians and labour to be calm, law abiding as the president is determined to address the issues at hand.”

On his part, the governor of Anambra State, Prof. Charles Soludo, said the review of social register was in progress.

He said Nigeria was already having refugees from Niger Republic which, according to him, is affecting the distribution of palliatives.

But the governor of Kaduna State, Senator Uba Sani, said only N2 billion had so far been given to states, instead of the N5 billion approved by the federal government.

Governor Yahaya Bello of Kogi State stated that a sub-committee was constituted last year to propose modalities to address imminent food crisis due to the flooding and possible source of funding for palliatives to victims.

He said: “The sub-committee was to be chaired by the governor of Kebbi State and the following as members – Ministries of Agriculture, Humanitarian, Finance, NEMA and CBN.’’

On limitations, he said: “ The exercise would have been more successful and effective if all the affected states had responded as and when due and according to provisions made in the template. Some of the limitations include delay or non-submission of filled template by some states.

“Only 16 of the total number of affected states forwarded their submissions to NEC Secretariat to date as expected. About 15 others are yet to do so. The submission from defaulting states are awaited to update the database.

“Some of the states that submitted did not fully comply with requisitions of the template, thereby making some of their submissions difficult to process by the automated system. There is the need for compliance with laid down processes to allow for higher degree of uniformity, especially considering the huge volume of data involved.

GuruboiNaija:
https://.ng/2023/08/17/i-killed-my-wife-for-sex-starvng-me-octogenarian/

Moshphil:
Which aproko abeg , go and learn more abt security report writing. Obi dun make all of una know everything abt security.
You are not in the field , special security report require special proactive and monetary support to do everything to avert such attack.

Look at their recommendation and their submissions, not as if it's only them that will be involved in the execution.
So ask question inorder not to make a fool of yourself in public.

Freemasonry:
Social media
Clout chasing
Monetary gain

These 3 things has turned our people to complete idiots.

That memo was classified for a reason, so that the law enforcement agencies can plan quietly and have the element of surprise to neutralize the terrorists when they attack.

Now, someone has leaked it.
For what exactly?

The Department of the State Services, DSS, has in a leaked memo to the Nigeria Railway Corporation, NRC, warned against bandits attack along Abuja-Kaduna Train.

The secret service in memo titled: Security Alert: ‘Impending Threat By A Coalition Of Banditry Syndicate To Attack Abuja-Kaduna Train Service Along AKTS Corridor’, advised other security agents to deploy troops in the stated area, to stop this from happening.

Vanguard had reported how gunmen on the 28 March 2022, attacked an Abuja–Kaduna train in Katari, Kaduna State, and kidnaped many passengers.


However, in a leaked letter signed by DSS Director FCT Command, R.N. Adepemu, the secret service cautioned train passengers to be careful and security alert.

Below is the leaked memo:

Islie:
https://www.vanguardngr.com/2023/08/police-react-to-death-of-married-lover-during-sex-romp-with-bishop-in-abia/

The University of Ibadan, Oyo State, has directed its staff to work for three days a week.

This was made known in a statement released by the institution in a special release with the number 4642, dated August 14, 2023, and signed by G.O. Saliu, Registrar and Secretary to Council.

It stated that the choice was made in light of the recent elimination of Premium Motor Spirit subsidies.

The statement said, “The astronomical increase in the fuel pump price occasioned by the removal of subsidy by the Federal Government has imposed huge economic difficulties on the generality of Nigerians.

"Salary earners who have to commute to work every working day are faced with an aggravation of the condition, given the attendant hike in the transport fare and cost of living.

“After careful consideration of the situation, the University Management recommended a temporary work schedule adjustment for members of staff, which Senate at its meeting of Thursday, 03 August 2023 considered and approved.

"Accordingly, members of staff are now expected to work on-site for three (3) days in rotation per week, with effect from Monday, 14 August 2073.

"It should, however, be noted that those on essential duties are exempted from this adjustment.

“It should be further noted that Management will review the arrangement as the situation improves. Meanwhile, members of staff are to maintain commitment, open communication, and cooperation towards ensuring free workflow, including working from home where and when necessary.

"In light of the foregoing, management seeks the understanding of all Deans, Directors, Heads of Departments and Units towards a smooth implementation of the intervention.”

The National Parent Teacher Association of Nigeria (NAPTAN) has appealed to President Bola Tinubu to intervene and do everything possible to prevent petrol price from going up further and out of hand.

Mr Adeolu Ogunbanjo, National Deputy President of NAPTAN, told the News Agency of Nigeria (NAN) that the appeal was coming following an emergency meeting of the association on Monday in Lagos.

Recall that Tinubu, had in his broadcast to the nation in July, said the government was monitoring the effects of the exchange rate and inflation on gasoline prices, promising to intervene if and when necessary.

Oil marketers on Monday projected an imminent price increase due to naira depreciation, against the dollar.

According to the marketers, as long as the dollar keeps rising against the naira in the foreign exchange market, the price of fuel in the country will continue to increase.

However, Ogunbanjo has now called on the president to give a concession rate on the dollar to petroleum importers.

According to him, this will create an enabling environment whereby the current price of fuel in the country will remain the same.

“The removal of the petroleum subsidy we agree, align with it. However, unifying the naira at the same time is what is causing the hardship because anytime the dollar rises, fuel imports rise.

“It is upon this development that we are pleading and seeking for the intervention of our dear president to consider a concessionary rate for fuel importers.

“About 60 per cent are parents; September is around the corner, when school fees will be paid, so the Nigerian parents are crying, begging and kneeling for Mr President to hear us.

“He should do everything possible to stabilise the fuel price and make the current pump price not higher than what we are buying now, as anything contrary will increase hardship,” he added.

leokid866:
but you Still carry your head enter......

WHILE the government appeared distracted with the coup in Niger Republic, the naira plunged further in the foreign exchange markets last week, exchanging at a record high of N955 to US$1 on Thursday, and spreading panic through the business community and apprehension among Nigerians. President Bola Tinubu and the Central Bank of Nigeria need to move fast, creatively, and pragmatically to avoid losing control of the currency and the economy.

The omens are bad. Since Tinubu pushed the CBN to merge the exchange rates two months ago, the naira’s southward descent has accelerated. The twin goals of facilitating a “realistic” rate, and eliminating the wide arbitrage gap created between official rates and informal market rates have remained elusive. At the official exchange rate of N767.76/$, the gap, and hence, room for illegal arbitrage, raced from N100/$ towards N200/$.

Absent an economic management team, direction, or cabinet, and no accompanying reforms of the regulatory agencies, all colliding with high inflation and business contraction, the naira is on track to crest the N1,000/$ mark and beyond soon, raising real fears that the CBN could lose control with dire consequences. The IMF added to the anxiety last week, saying existing “loose fiscal and monetary policies” make it difficult for the naira to stabilise.

Wale Edun, Tinubu’s longtime economic adviser and ministerial nominee, signposted N700/$ as the realistic rate, saying the higher rates are not backed by the fundamentals of the economy. The Economist Intelligence Unit’s forecast of a N1,000/$ rate up till 2027 now appear overly optimistic. Things could get really nasty well before then.

This is not surprising. Supply is constrained by low non-oil export earnings. Demand is artificial, driven by speculators and hoarders, and massive, unchecked money laundering by state and non-state actors. Politicians, public office holders, bandits, kidnappers, and connected contractors, facilitated by lax oversight of the deposit money banks and the bureaux de change, are driving the market with ill-gotten naira, not producers or genuine commercial enterprises.

Tinubu must shift from his unfocussed, ill-planned, and uncoordinated decisions to strategic, well-planned, and comprehensive economic policies. He desperately needs an EMT and more economists and technocrats on board than the motley politicians he has nominated as ministers.

To avoid losing control of the naira and hyperinflation, the CBN should for a few weeks, fund the forex market; next, restrain the BDCs and errant banks from round-tripping and illegal arbitrage. There should be closer collaboration with other regulatory agencies, and the anti-corruption and law enforcement agencies to monitor operators and swiftly and firmly punish infractions and offenders.

An economy battling high unemployment, inflation, production contraction, and dwindling public revenues, needs strong stimulus to achieve recovery. These should target protecting strategic sectors – agricultural production, pharmaceuticals, transportation, and small businesses. Special attention should be paid to SMEs; how to subsidise their power supply, access to low-interest credit, and overthrow crippling taxes and levies.

Hard decisions lie ahead, but should be taken only after rigorous diagnoses and preparation. Shortage of dollars is leaving supply to the market in the hands of black-market operators, thereby effectively subverting the goal of reducing the gap between the official Importers and Exporters window and the parallel market rates. A temporary bolstering of the market to defend the naira for a very short period and funnelled to legitimate businesses is desirable to halt the naira’s downward spiral.

The economy requires very close attention and rigorous planning to avoid a collapse: Tinubu should, going forward, stop taking hasty measures without them.

juman:
Tinubu is our messiah that knows the way.

9182736455O1999:
I see post for FP as 1:1
I click the thread con dey see 2:1
Open another page i see 0:0
Now i dey see 2:1 again
Wetin dey occur na?

badoh:
Nonsense talk from someone that could not get a single vote in APC presidential primaries. He has no political influence even in his polling unit.