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Politics › Re: How Much Is The Average Cost Of Feeding A Family Of 6? by ogododo: 5:37pm On Jun 02, 2024

helinues:
Awon how much crews..

If you no get money, no le oko

Jide no be failure again.

Politics › Hardship: We Warned Nigerians Against Voting APC –Tambuwal by ogododo(op): 5:01pm On Jun 02, 2024

Former Governor of Sokoto State and Senator representing Sokoto-South, Aminu Waziri Tambuwal, has described the current hardship in the country as a repercussion of re-electing the All Progressives Congress (APC) government in 2023.

Speaking during a stakeholders meeting of the People’s Democratic Party (PDP) in Sokoto on Sunday, Tambuwal said, “during our campaigns in 2023, we warned Nigerians not to repeat the mistake of voting APC into power because they have nothing positive to offer them.”

“We told them APC are not prepared to lead this country. What they wanted was to grab power and see them into offices.

“Now they have grabbed the power and are into offices but don’t know what to do with it.

https://dailytrust.com/hardship-we-warned-nigerians-against-voting-apc-tambuwal/

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Politics › Re: We Need A New Generation Of Leaders – Obasanjo by ogododo(op): 9:48am On Jun 02, 2024

Nlfpmod, na talk be dis.

4 Likes

Politics › We Need A New Generation Of Leaders – Obasanjo by ogododo(op): 9:00am On Jun 02, 2024

Nigeria must begin to recruit new leaders to take over the mantle of leadership, ex-President, Olusegun Obasanjo, has said.

Obasanjo spoke in Lagos at the Africa Methodist Council Heads of Conference Summit and Women’s Movement Leadership Summit,

According to him, insecurity had made the country a dangerous place, filled with so much suffering and hunger.

The former president said to get things right, the leadership has to wake up to its responsibilities in order to create a better world for all Nigerians.

Nigeria going through terrible metamorphosis – Bode George
Development, where we missed the road – Professor Gambo Laraba Abdullahi (former VC University of Abuja)
While asking Nigerian leaders to re-evaluate the world, he said: “How do we re-evaluate the world? What do we do? Jesus Christ himself told us that in this world, we would have trouble.

“I will give you two points. Wake up! We need a new generation of leaders; moral leaders, transformational leaders, and servant leaders. This new generation of leaders will lead by showing love and leading the re-evaluation and transformation.”

He further said: “Nigeria as it is now is volatile, uncertain, complex, ambiguous and dangerous. We have resources in Africa; we have 70 per cent of the world’s copper. Japan has no mineral resources. Singapore is even worse. No resources!

“But, whatever resources we have, if we are devoid of leadership, it won’t get us anywhere. That is why leadership in Africa is very important. We can’t create an Africa of hope, prosperity, devoid of oppression and one of security, peace and where leaders have vision, knowledge and understanding this way.”

https://dailytrust.com/we-need-a-new-generation-of-leaders-obasanjo/

27 Likes 3 Shares

Business › Re: Dangote Refinery Exports Jet Fuel To Europe by ogododo: 10:47am On Jun 01, 2024

Biodun556:
https://leadership.ng/dangote-refinery-makes-first-jet-fuel-export-to-europe/?utm_source=&utm_medium=facebook#google_vignette

Lie dey expire.

Politics › Re: New” National Anthem Is National Self-debasement by ogododo(op): 8:38am On Jun 01, 2024

Na dem dey encourage.

Politics › New” National Anthem Is National Self-debasement by ogododo(op): 8:01am On Jun 01, 2024

Nothing in my adult life has made me more ashamed to be a Nigerian and more inclined to completely divest my emotions from Nigeria than the readoption of “Nigeria, We Hail Thee,” a colonially created national anthem whose first stanza drips wet with the spit of racist condescension, gender exclusion, and stodgy, ungainly archaisms.

First, it’s inexcusable national self-humiliation to discard a home-made national anthem, irrespective of its defects, for one that was made by an imperialist whose influence we’re supposed to be independent of. That instantiates a phenomenon that social anthropologists call cultural cringe.

First propounded by an Australian scholar by the name of Arthur Phillips in the 1950s to describe Australia’s complicated cultural relations with Britain and the US, cultural cringe is the deep-rooted inferiority complex that causes psychologically damaged, formerly colonized people to inferiorize and disdain their own country and its culture and to uncritically valorize cultures and countries that their low self-esteem persuades them to believe is superior to theirs.

In previous columns, I have called this Nigeria’s national xenophilia, which I have defined as our predilection for irrational, unjustified, inferiority-driven veneration of the foreign and the corresponding sense of low national self-worth that this veneration activates.

A country whose symbolic song of independence is inspired, written, and composed by the appendicular remnants of imperialist oppressors of whom the country has supposedly been independent for more than six decades isn’t worthy of its independence. Such a country has lost the moral and philosophical argument for independence and against recolonization.

That is why, as I’ve argued in the past, our leaders are routinely infantilized by the West. As a people and a culture, we have internalized a mentality of low self-worth and an unwarranted veneration of the foreign, especially if the “foreign” also happens to be white. Nothing has demonstrated this more than the readoption of a national anthem that was written and composed by colonial British women.

But my worry transcends this. I am mortified that the very first stanza of our national anthem derogates our humanity. I have written multiple articles on what I have called the vocabularies of racial differentiation and exclusion in which I have repeatedly pointed out that “tribe” and “native” are racist words that white people reserve only for people they consider inferior, and that their appearance in Nigeria’s first national anthem was one of the reasons for the anthem’s rejection in 1978.

I’ll repeat some of the things I’ve written over the last few years on this issue and hope that President Bola Ahmed Tinubu sees reason to rescind the readoption of this denigrating British anthem written for Nigeria.

Shorn of all pretenses, “tribe” basically means backward, primitive nonwhite people. Let no one deceive you that the word means anything other than that in the English language. Even the Oxford Dictionary of English recognizes this fact. Its usage note on “tribe” reads:

“In historical contexts the word tribe is broadly accepted (the area was inhabited by Slavic tribes), but in contemporary contexts it is problematic when used to refer to a community living within a traditional society. It is strongly associated with past attitudes of white colonialists towards so-called primitive or uncivilized peoples living in remote underdeveloped places. For this reason it is generally preferable to use alternative terms such as community or people” (p. 1897).

I personally prefer “ethnic group” as an alternative to “tribe.” But I am aware that “tribe” has been congealed in our lexical repertory and can even be said to have been resemanticized by Africans, that is, given a meaning that is different from its original one.

For most English-speaking Africans, “tribe” is simply the English lexical equivalent of the words in their languages that they deploy to denote peoplehood. That may be so, but I come to language from a communication standpoint. To effectively communicate, you have to speak the same codes and share the same meanings.

Native English speakers would never call themselves “tribes” and understand the word to mean a group of primitive, nonwhite people who are still stuck at the lower end of the civilizational hierarchy.

You may understand the word differently, but if you tell a native speaker you belong to a tribe, you are inadvertently authorizing your inferiorization. That’s why when anybody asks me, “What is your tribe?” I always say, “You mean my ethnic group? I don’t belong to a tribe.” That was, by the way, Chinua Achebe’s attitude, too. He hated the word “tribe.”

That was also why when former US President Bill Clinton visited Nigeria and other African countries in 1998, experts told him to steer clear of the word “tribe” and its inflections such as “tribal,” “tribalism,” “tribalistic,” etc.

An influential American newspaper called Politico contrasted Clinton’s studied avoidance of the word “tribe” and Obama’s liberal use of it. “Keep in mind that the word ‘tribal conflict’ is extremely insulting to Africans,” the paper quoted a scholar by the name of Marina Ottaway of the Carnegie Endowment for International Peace to have told American reporters who would cover the presidential visit. “Don't write about ‘century-old tribal conflicts in African countries’… Yet, when Obama uttered the phrase ‘tribal conflicts’ at a press conference Friday as he discussed his planned trip to Africa, it went virtually unremarked upon. So too did several references he made in his Ghana speech to battles among ‘tribes.’” “Another president,” the paper concluded, “might have been accused of racism…”

Well, I criticized Obama for this in a Jul 18, 2009, column titled, “The Anti-African Racist Insults Obama Got Away with in Ghana,” which attracted the attention of the White House at the time.

A column I wrote earlier on February 27, 2009, titled “What’s my tribe? None” got the attention of CNN International’s copy desk. After a back and forth with its Chief Copy editor, the organization banned the use of the word “tribe” from its style guide. It came from their admission that no white ethnic group would ever be called a “tribe.”

In my September 30, 2018, column titled, “‘Tribe’ and ‘Detribalized’ are Derogatory Words,” I wrote: “Sadly, in 2018, our elites not only still call us ‘tribes’; they defend doing so. Lillian Jean Williams, the British colonial who wrote the anthem, would be proud.” I had no inkling that Tinubu would take this embarrassing sociolinguistic suicide to the next level.

“Native” is another linguistic marker of racial inferiorization that has no business being on Nigeria’s national anthem. The word was originally used by white colonialists and later by Western anthropologists to refer specifically to nonwhite people. The New Oxford American Dictionary (3rd edition) captures this subtlety well. One of the definitions of “native,” which the dictionary says is “dated, often offensive,” is “one of the original inhabitants of a country, especially a nonwhite as regarded by European colonists or travelers.”

Lillian Jean Williams was a British colonialist who thought herself superior to the “natives” and reflected that in the first stanza of the anthem she composed for us.

Notice, though, that in American (and Canadian) English “native” is used widely in a non-racially discriminatory way. When people call a city their hometown, they often say they’re natives of the city, as in “I am an Atlanta native.” I am not sure how widespread this usage of “native” is in British English, but it appears only 148 times in the British National Corpus.

The New Oxford American Dictionary’s usage advice on “native” is instructive. It says, “In contexts such as native of Boston or New York in the summer was too hot even for the natives, the noun native is quite acceptable. But when it is used to mean ‘a nonwhite original inhabitant of a country,’ as in this dance is a favorite with the natives, it is more problematic. This meaning has an old-fashioned feel and, because of its association with a colonial European outlook, it may cause offense.”

There is exactly zero reason to revert to “Nigeria, We Hail Thee.” Its readoption symbolizes the starkest evidence of national defeat, national self-humiliation, and national inferiority complex that I have ever seen. If Tinubu doesn’t reverse himself on readopting this national disgrace, the next government should. This is simply unbearably embarrassing!

https://www.farooqkperogi.com/2024/06/new-national-anthem-is-national-self.html

Politics › Re: Police Arrest Killers Of Six Corps Members In 2011 Bauchi Post-Election Crisis by ogododo: 7:42am On May 31, 2024

Paraman:
https://punchng.com/police-arrest-killers-of-six-corps-members-in-2011-bauchi-post-election-crisis/?utm_source=telegram&utm_medium=social

Nawa.

Politics › Re: Bismarck Rewane Worried Over Tomato Price Hike From ₦40,000 To ₦150,000 by ogododo(op): 7:35am On May 31, 2024

Ebinkpawon.

9 Likes

Politics › FG To Lift 50m Youths Out Of Poverty – Uche Nnaji by ogododo(op): 7:34am On May 31, 2024

The Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji, has said that the federal government is determined to strengthen local content integration in innovation, science and technology across the critical sectors of the economy with the aim of lifting 50 million Nigerian youths out of poverty.

The minister stated this at the flag off of the National Compressed Natural Gas (CNG) Conversion Capacity Building titled: “Train The Trainee”, organised by the Federal Institute of Industrial Research Oshodi (FIIRO) in Abuja yesterday.

He emphasised that training youths in auto gas conversion would drive economic diversification, create job opportunities, self-reliance and reduce youth restiveness.

He said, Economic growth thrives on innovation, science and technology. Our ministry is committed to contributing to Nigeria’s development by building capacity in these areas. Since assuming office in 2023, we have focused on achieving the priority areas outlined in the Renewed Hope agenda of our dear President and Commander in Chief of the Armed Forces, Bola Ahmed Tinubu. The priority areas are economic reform, national security, agricultural growth, energy development, infrastructure enhancement, education, health, social investment, industrialisation and improved governance.’’

https://dailytrust.com/fg-to-lift-50m-youths-out-of-poverty-minister/

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Politics › Re: Bismarck Rewane Worried Over Tomato Price Hike From ₦40,000 To ₦150,000 by ogododo(op): 8:34pm On May 30, 2024

advanceDNA:
It's sad.....poor people can't even afford the usual poor man products..... Ordinary garri and ground nut that used to be the poor man's life line.....

No be dem dey collect 2k to vote.

65 Likes 4 Shares

Politics › Bismarck Rewane Worried Over Tomato Price Hike From ₦40,000 To ₦150,000 by ogododo(op): 8:00pm On May 30, 2024

Tinubu’s Economic Council Expresses Worry Over Tomato Price Hike From N40,000 To N150,000

A member of the Economic Coordination Council constituted by President Bola Tinubu, Bismark Rewane, has lamented the increase in the cost of tomatoes in Nigeria, which has risen from N40,000 to N150,000 per bag within a year.

Speaking on a live broadcast, Rewane argued that food inflation had continued to increase the suffering of the people during the reviewing period.

Rewane said: “How does this affect you? In Inie and Jeffrey, a bag of rice cost N35,000 last year; today, it’s N80,000, an increase of 129 per cent. Garri was N28,000 last year; it’s now N50,000. Beans were 30,000 last year; now, it’s N95,000, up by 217 per cent. A loaf of bread was N900; now it’s N1,600. A tuber of yam was N2,000; now it’s N10,500. The big problem is tomatoes: last year, N40,000 per bag; now it’s N150,000.

“Non-food basket items: A night bus from Lagos to Abuja was N20,000 last year; now it’s N33,000, up 68 per cent. Toiletries were N300; now it’s N500, up 67 per cent. A flight from Lagos to Abuja was N38,000; now it’s N80,000, up 111 per cent. Lagos to London flights dropped from N2.6 million to N1.4million.”

Rewane stated further that the rise in headline inflation, and food prices in particular, exacerbated the prices of food across the country.

“Before, we were growing at 2.91 per cent. This year, we are now growing at 2.87 per cent, so our growth has declined by 0.04 per cent. Headline inflation was 22.41 per cent when President Tinubu took office. It is now 33.69 per cent, so it has deteriorated by 11.28 per cent.

“Food inflation was 24.82 per cent; it is now 40.53 per cent. It has deteriorated by 15.71 per cent. The exchange rate on May 29 last year was N765 to a dollar in the parallel market. Today, it’s at N1,520, essentially doubling and declining by 100 per cent. The difference between the parallel and official market rates was N295 to a dollar last year; today, it’s N346 due to recent adjustments.

“The price of diesel was N840 per litre last year; today, it’s N1,200, although it had reached N1,700 before Dangote brought it down to N1,200, an increase of 43 per cent. Petrol (PMS) was N190 per litre, highly subsidized; today, it’s N580 in most parts of the country, even N617, increasing by 205 per cent. Efforts were commendable, but outcomes were average,” he noted.

Rewane added that one of the positive developments during the period was the marginal increase of 11 per cent recorded in oil production.

He also lauded the appreciable metrics recorded in external debts, Federal Allocation Committee, and external debt per head as a result of the subsidy removal within one year in office of President Tinubu.

He said, “We were producing 1.15 million barrels per day last year. Now, it’s 1.28 million barrels, a marginal increase of about 11 per cent. The total Federal Allocation Committee shared N10.92 trillion last year, which has increased to N14.39 trillion due to subsidy removal and reduction, a 31.78 per cent increase.

“Total external debt was $42.7 billion last year; today, it is $42.5 billion, a slight improvement. External debt per head was $179 per Nigerian last year; now it’s $178 per head. Gross external reserves were $35 billion last year, dropping by 7 per cent to $32 billion. The minimum wage was N30,000 per month last year, and it’s now open to debate.”

Speaking on the economic impact and unintended consequences, Rewane said, “The gross fixed investment, which drives growth, was $154 billion last year; it is now down to $105 billion, a 31 per cent decrease. Stock market capitalization was N30 trillion last year, now it is N55 trillion, an 83 per cent increase, benefiting investors.

“National savings as a percentage of GDP decreased from 33 per cent to 29 per cent. Life expectancy improved from 55.8 years to 56.1 years. Ships waiting at Nigerian ports increased from 12 to 15, a 25 per cent improvement. Grid collapses reduced from 12 times last year to five times this year.”

Based on metrics, the renowned economist also categorized his economic reviews into three broad views.

He said, “So, we have the good, the bad, and the ugly. The good: Tax and other revenues have more than doubled; FAAC increased to N14.39 trillion; Dangote Refinery and other modular refineries commenced operations; Forex backlog cleared by over half; credit rating upgraded to B; oil production increased to 1.34 million barrels per day; and international fares reduced.

“The bad: Nigeria fell from the 32nd largest economy in the world to 42nd; in Africa, from 1st to 4th; inflation increased from 24% to 33%; public debt rose to N97trillion.

"TThe ugly: Terrorist attacks continue; power grid collapses persist; multinationals like Procter & Gamble exited; the cost of living crisis persists; food inflation is rising, driven by post-harvest losses, insecurity, and poor storage.”

https://saharareporters.com/2024/05/30/tinubus-economic-council-expresses-worry-over-tomato-price-hike-n40000-n150000

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Business › Re: Huggies Maker, Kimberly-clark To Stop Production Three Years After Investing $10 by ogododo(op): 6:25pm On May 30, 2024

Nawa Nlfpmod. Where dose pipu go work now.

Business › Huggies Maker, Kimberly-clark To Stop Production Three Years After Investing $10 by ogododo(op): 1:34pm On May 30, 2024

Diaper and sanitary pad manufacturer, Kimberley Clark will soon announce an imminent shutdown of its Ikorodu production facility two years after investing $100 million in Nigeria.

Sources within the company informed Nairametrics that the plant has been producing below capacity from late 2023 into 2024 due to the harsh economic environment within the country.

In 2022, the company inaugurated a $100 million production facility in Ikorodu, Lagos state to restart operations after a similar closure of operations in 2019 following a strategic review of its business.

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Kimberly-Clark began operations in Nigeria in 2012 but stopped due to unfavourable economic conditions after five years in 2019 to later restart in 2021.

The company produces Huggies diapers, sanitary pads, Kotex and other hygiene and personal care products. KC is a listed multinational on the New York Stock Exchange with the majority of its shares held by institutional investors like Blackrock Inc., Vanguard Group, Morgan Stanley etc.

Dinosaurs Spine at Hang Dong, Ta Xua, Son La seen from above

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According to the source who claimed anonymity, the company since late 2022 have battled with high energy costs, raw materials and reduced demand from customers due to the prevailing economic situation.

This has resulted in downsizing and reduced production time from every day of the week to just Mondays to Thursdays.

The company currently spends around N100 million on power generation monthly aside from maintenance costs and its monthly fixed spend on operations has risen over N500 million.

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He said, “Our first two years were fantastic in terms of sales growth and market shares within the diaper industry. Fast forward into late 2022 and 2023 was really bad years for the coy due to economic situation.”

“Running cost is extremely on the high side. Our fixed spent on a monthly basis is above N500 million and we spent about N100 million on just gas consumption for powering the gas engine aside maintenance. The company has two assets and for last year, these assets didn’t run for like 90 days in 365 days.”

“Earlier this year, the coy had to downsize to 2 shifts from 4 shifts. We run 24hrs and 7days and 365 days before but currently we don’t run on Friday, Saturday and Sunday anymore because of the economic situation. There is already an embargo on external recruitment. The company is looking for ways to reduce cost since it is not making a profit.”

Furthermore, the source noted that the high production cost stems from the increased raw material cost since it is import-based.

At the initiation of operations about three years ago, the company set aside some money for operations which it estimated would last five years after which revenue from Nigeria could sustain the operations.

Exit from Nigeria
The planned closure of operations of Kimberly-Clark from Nigeria and the reasons provided are similar to those of other manufacturers who have exited the country in the past few years.

High production cost, currency depreciation affecting the import of raw materials, and weak purchasing power of the populace.

Last year, another U.S based company in the personal care business Procter and Gamble (P&G) closed production in Nigeria in a similar fashion having invested about $300 million (the single largest non-oil investment by a U.S company in Nigeria) in a production facility in Ibadan.

Similarly, PZ Cussons stated last month that it is evaluating strategic options for its Africa business for which Nigeria is the biggest and thinking of ways to maximise shareholder value. The company has also restarted asset disposal in Nigeria after a halt due to forex liquidity issues.

The baby diaper industry in Nigeria is estimated at $920 million with a CAGR of about 11% between 2024 and 2028 according to Statista. Leaders in the industry include; Pampers produced by P&G, Molfix, and Kimberly-Clark’s Huggies. However, it is a hugely competitive industry with about 15 brands competing for market share.

What this means
The planned closure of production in Kimberly-Clark’s facility in Nigeria is a huge blow to the federal government’s drive to attract foreign direct investment into the country and mirrors the challenges faced by players in the real economy.

Furthermore, the closure of operations means that two of the three leaders in the diaper and personal care industry in Nigeria (P&G and Kimberly-Clark) have ended production in the last one year.

Like GSK, P&G transitioned to an import-based business model, if KC tows the same line, it could exacerbate the cost of diapers and sanitary materials for babies and households following significant depreciation of the Naira and further increase the country’s imports at a time when the drive for local production is high.

https://nairametrics.com/2024/05/30/breaking-huggies-maker-kimberly-clark-to-stop-production-three-years-after-investing-100m-in-nigeria/

Politics › FCCPC Survey Links Rising Food Prices To Insecurity, Subsidy Removal by ogododo(op): 7:58am On May 30, 2024

Traders in major food markets in the country have blamed insecurity and fuel subsidy removal for the rising food prices in the country, according to a survey conducted by the Federal Competition and Consumer Protection Commission.

The move, according to FCCPC, was aimed at finding the major reason for the constant hike in the prices of food items in the country in a bid to advise the government on the best policy to tackle the issue.

The FCCPC noted that it had been conducting fact-finding interactions with traders’ associations and marketers to ascertain factors responsible for the continuous hike in food prices.

Speaking during a tour of some major markets in Lagos State, including Mile 12 International Market, Ketu, and Ilepo Market, on Wednesday, the Head of FCCPC in the state, Mrs Sussie Onwuka, explained that the exercise was a fact-finding mission.

She added that there had been constant complaints by Nigerians about the constant hike in the prices of food commodities in the market, adding that the government was concerned.

“And because of our mandate to protect the consumer and to also advise the government, we have to conduct an investigation and come up with a report that would help the government put good policies in place, so we have to come out to the source and talk to the market executives,” Onwuka said.

She noted that the commission had talked with market people to find out what the real reason for the constant hike was and put up a report.

According to her, the major complaint by traders was insecurity in the country.

“From what the people we have spoken to said, the major complaint is the insecurity in the country. The farmers can’t go to the farm; fuel scarcity has made the cost of transportation go up, and the costs are added to the cost of the goods.

“And they complained about rain affecting grain. There are many reasons attached to the constant hike in the prices of food commodities,” she asserted.

Earlier, the Chairman of Mile 12 International Market, Shehu Jibril, said that the major cause of the hike was insecurity, as most farmers in internally displaced persons camps could no longer access their farms.

“Most of the people in all the IDP camps across the country are farmers, and now they can’t farm because of insecurity. The government should ensure security so that these people can return to their farmlands. That is the only way to tackle the constant hike in food items,” he averred.

Jibril stated that the association had started engaging the Lagos State Government, particularly the Ministry for Agriculture, to provide them with farmland.

“It is ongoing; the commissioner is willing and has promised us. So, we are still on the matter,” Jibril stated.

He added that the association was engaging with the farmers in Lagos to start cultivating other food commodities like tomatoes, among others.

“We can supplement some things we are doing. You know we have farmers in Lagos already who are farming all these lands. So, we are engaging them to start also doing tomatoes and some other things that people can eat in Lagos,” he remarked.

Also, the General Secretary of Ilepo Market, Olatunji Majester, noted that the prices of food items were going up because of insecurity.

“Most of the goods witnessing a constant hike in prices are due to insecurity. Secondly, people add the logistics costs, including fuel, repairs to the trucks, and all that. And you know that the haulage cost differs, and you know the cost of diesel is getting high now,” he explained.

The country’s food inflation stood at 40.53 per cent at the end of April, according to the National Bureau of Statistics.

https://punchng.com/fccpc-survey-links-rising-food-prices-to-insecurity-subsidy-removal/

3 Likes

Politics › Re: Renewed Hope or Dashed hope?: Rate Tinubu's Administration In One Year by ogododo(op): 8:12am On May 29, 2024

iwaeda:
. Confused, confusion, no direction, wastages, palliatives and lies. Minus 20. Hopelessness..

Na so broda.

17 Likes

Politics › Re: Renewed Hope or Dashed hope?: Rate Tinubu's Administration In One Year by ogododo(op): 7:49am On May 29, 2024

Na odo, zero.

103 Likes 3 Shares

Politics › Renewed Hope or Dashed hope?: Rate Tinubu's Administration In One Year by ogododo(op): 7:40am On May 29, 2024

What is Your Rating of Tinubu's Administration in One Year?

1 Like 1 Share

Politics › Re: Lack Of Funds Preventing Nigeria From Appointing Ambassadors This Year – Foreign by ogododo(op): 9:22pm On May 28, 2024

kokoA:
I don't think anybody realized we don't have ambassadors yet, we can as well do without them and save the country some more money.

Nawa oo. APC come ground Naija.

Politics › Lack Of Funds Preventing Nigeria From Appointing Ambassadors This Year – Foreign by ogododo(op): 7:57pm On May 28, 2024

The Minister of Foreign Affairs, Yusuf Tuggar, says the country has not appointed a new set of ambassadors to its missions this year because of a lack of money.

He stated this in Abuja during the ministerial briefing on the one-year anniversary of President Bola Tinubu’s administration.

According to him, following significant problems in the macroeconomy with respect to the depreciation of the naira, inflation, debt and others, the Ministry of Foreign Affairs became underfunded.

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Tinubu assures US of enhanced power supply through Nigeria’s abundant gas resources
MAY 9, 2024

He stated, “Part of the problem is the situation the new administration came and met. As you know, President Tinubu, when he came in, focused on removing subsidy. The whole idea is to stop subsidising consumption and focus on subsidising production. At the same time, the government was also facing other challenges.

“To cut a long story short, foreign affairs was not being funded the way it should be and these sorts of loopholes were exploited by the likes of Binance, so it’s a money problem. There is no point sending out ambassadors if you don’t have the funds for them to even travel to go there. And then, of course, to run effectively and efficaciously, you need funding, so that is it.”

Dinosaurs Spine at Hang Dong, Ta Xua, Son La seen from above

However, Ambassador Tuggar noted that the President is aware of the situation and will appoint ambassadors in due course.

Also, he addressed the problem with the issuance of student visas to Nigerian students in other countries, stating that negotiations are going on between Nigeria and other countries where Nigerians are facing similar problems.

What you should know
The administration of President Bola Tinubu on assumption into office one year ago, introduced some bold reforms including the removal of fuel subsidy and unification of the foreign exchange market.
The reforms led to arguably the biggest depreciation of the naira in history with the local currency losing over 100% of its value and reaching about N1600/$ on the official window.
While there have been some wild swings in 2024, there has been relative stability on the forex market in the last one month, with the naira settling around N1200 to N1500.
Also, inflation reached a 28-year high of 33.69% in April 2024 while food inflation ticked 40.53% in the month.
All these, coupled with increasing recurrent expenditure, have made the President mulling the implementation of the neglected Oronsaye report which aims to reduce the cost of governance while improving public efficiency.
Follow us for Breaking News and Market Intelligence.

https://nairametrics.com/2024/05/28/lack-of-funds-preventing-nigeria-from-appointing-ambassadors-this-year-foreign-affairs-minister/

Politics › Re: Dangote Refinery To Begin Diesel Exports In June, Gets Petrol Refining Approval by ogododo: 8:00am On May 28, 2024

Paraman:
Dangote Refinery to Begin Euro V Diesel Exports in June, Gets Regulator’s Approval To Refine Petrol

https://www.arise.tv/dangote-refinery-to-begin-euro-v-diesel-exports-in-june-gets-regulators-approval-to-refine-petrol/

Dey play.

1 Like

Business › Re: Naira Down To N1,525/$ In Parallel Market by ogododo(op): 7:59am On May 28, 2024

Nlfpmod come see dere lies wey sey dollar don fall.

4 Likes 1 Share

Business › Re: Naira Strengthens To 1,339.33/$ At Official Market by ogododo: 7:58am On May 28, 2024

PDPdestroyer:
Ogododo won't like this kind of news at all

Una dey deceive ur self.

Business › Naira Down To N1,525/$ In Parallel Market by ogododo(op): 7:23am On May 28, 2024

The Naira yesterday depreciated in the parallel market to N1,525 per dollar from N1,520 per dollar last weekend. However, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,339.33 per dollar from N1,482.81 per dollar last weekend, indicating N143.48 appreciation for the
Consequently, the margin between the parallel market and NAFEM rates widened to N185.67 per dollar from N37.19 per dollar last week Friday.

https://www.vanguardngr.com/2024/05/naira-down-to-n1525-in-parallel-market/

2 Likes

Travel › Re: 3 Burnt To Death As SUV Collides With Truck In Lagos by ogododo: 7:51pm On May 27, 2024

Newlymarried:
https://pmnewsnigeria.com/2024/05/27/three-burnt-to-death-in-lagos-auto-crash/

Nawa on newlymarried.

Crime › Hoodlums Attack Lagos Police Station by ogododo(op): 12:42pm On May 27, 2024

Panic ensued in a section of Lagos State on Monday when more than 100 hoodlums stormed the Ipaja Police Station.

It was gathered that the attack resulted in a gun battle between the thugs and police officers during which several of the thugs who launched the attack were killed.

The incident caused fear among residents as the attack resulted in a subsequent exchange of gunfire.

Police personnel have been dispatched to the area for reinforcement.

See photos below:

Hoodlums at Ipaja Police Station
Details later…

https://punchng.com/pictorial-hoodlums-attack-lagos-police-station/?amp

Politics › Re: Obasanjo: Tinubu Yet To Find Right Way To Handle Economy, Subsidy Removal Wrongl by ogododo(op): 9:46am On May 27, 2024

slivertongue:
APC is wrongly in power.

Na so we see am.

Politics › Obasanjo: Tinubu Yet To Find Right Way To Handle Economy, Subsidy Removal Wrongl by ogododo(op): 7:54am On May 27, 2024

Former President, Chief Olusegun Obasanjo has said the administration of President Bola Tinubu is yet to find the right way to handle the economy.

He also said the removal of fuel subsidy by the president was in order but said it was wrongly implemented, leading to suffering in the land.

According to Obasanjo two out of the three decisions made by Tinubu were wrongly implemented.

In a statement made by his Special Assistant on Media, Kehinde Akinyemi on Sunday, Obasanjo hinted that the third decision was the position in dealing with the coup in Niger.

The former President made this remark at a Colloquium: “Nigeria’s Development: Navigating the Way Out of the Current Economic Crisis and Insecurity” delivered at the Paul Aje Colloquium (tPAC) in Abuja, at the weekend.

Obasanjo also took a swipe at those against his position on much touted refurbished refinery at Port Harcourt, Rivers State, describing them as “sycophants and spin doctors”.

He declared that such people failed to remember that the attempt that was made in 2007 to partly privatise the refineries was made by him after a thorough study of the situation, hence his knowledge and better understanding of the situation before making his decision late last year.

On what could be described as his position on 365 days of President Bola Ahmed Tinubu administration, Obasanjo also posited ways out of the situation in the country, including a 25-year development agenda.

“Today, government has taken three decisions, two of which are necessary but wrongly implemented and have led to impoverisation of the economy and of Nigerians.

These are removal of subsidy, closing the gap between black market and official rates of exchange and the third is dealing with military coup in Niger Republic.

“The way forward is production and productivity which belief and trust in government leadership will engender. No short cut to economic progress but hard work and sweat,” Obasanjo said.

To him, “Economy does not obey orders, not even military orders. I know that. If we get it right, in two years, we will begin to see the light beyond the tunnel. It requires a change of characteristics, attributes and attitude by the leadership at all levels to gain the confidence and trust of investors who have alternatives.

He goes further, “Total Energy has gone to invest 6 billion dollars in Angola instead of Nigeria. If the truth must be stated, the present Administration has not found the right way to handle the economy to engender confidence and trust for investors to start trooping in.

“They know us more than we know ourselves. And now they are laughing at us, not taking us seriously. We have to present ourselves in such a way that we will be taken seriously. If the existing investors are disinvesting and going out of our country, how do we persuade new investors to rush in. We can be serious if we choose to be but we need to change from transactional leadership in government to transformational and genuine servant leadership.

“With change by us, the investors will give us benefit of doubt, and security being taken care of on sustainable long-term basis, they will start to test the water. With the right economic policies, attribute of integrity and honesty of purpose, all should be well with all hands on deck and government become a catalyst for development, growth and progress.

Related News
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To conclude on the economy, “tinkering with exchange rate is not the answer. The answer is consistency and continuity in policy to ensure stability and predictability. That way, we will be sure of incentivizing domestic and foreign investment. There must be honesty and transparency in government dealings and contracts and not lying with deception about these issues. When government is seen as pursuing the right policy, the private sector will go for production and productivity.”

“Change is possible but it must begin with the leadership”.

Obasanjo noted that to get out of the current situation of the country, the government and the governed needed to look at the past and the present, and asked: “How do we get here?”

“Looking at the topic of today’s occasion, the question I would ask is, how do we navigate our way out of these crises and pave the path towards a more secure and prosperous Nigeria? I believe the answer to this requires a multi-faceted approach that addresses the root causes of these challenges. The central questions are: where were we? And how did we get to where we are today.”

According to Obasanjo: “Firstly, we must know where we are coming from. Our economy has consistently suffered from poor policies, lack of long-term sustainable policies, discontinuity, adhocry and corruption firmed on personal greed, avarice, incompetence, lack of knowledge and understanding and lack of patriotism.

“For instance, the statement and proposed actions given forty-five years ago to stop fuel scarcity is the same statement and action being touted today. I recall when I made the statement that the refineries will not work, the sycophants and spin doctors of this current administration went out to castigate me as not being a petroleum engineer and that I did not know what I was talking about.

“They forgot that the attempt that was made in 2007 to partly privatise the refineries was made by me after a thorough study of the situation. But the decision was reversed by my successor and the 750 million dollars paid was refunded.”

On a way out, the former President disclosed that the country needed “a 25-year socio-economic development agenda that will be generally agreed to, by the nation of all political parties and passed into law by the National Assembly with State Assembly are expected to also pass into law by the State Houses of Assembly. We take up the implementation on five-year basis. In reality, that plan will have the effect of almost a Constitution. The first priority in the implementation will be education for all.

“The second should be food and nutrition security through agribusiness. The third should be energy for all. The fourth should be industrialization and manufacturing. And the fifth should be science, technology, innovation and Artificial Intelligence, AI.

“In all these, government should provide conducive environment for private sector to operate and thrive. And where government will be involved at all, other than as policymaker and enabler, it should be on the basis of private public partnership with government as junior partner.”

On the security, “we need stick and carrot approach. Stick to deal with those who cannot be weaned out of criminality and evil deeds and for those weaned, they should be rehabilitated. There should be no Nigerian without being in school compulsorily for eleven years – secondary education level.

“Employment must be a right for all Nigerians from age 18 years to 65 years. With such carrot in position, the stick must then be made more severe for criminals. Five years must be set out to ensure that every Nigerian child that is not in school is in school and no one is left out of popular education.

“Adult education should be embarked upon to give every Nigerian basic education equivalent to six years of formal education. We should give ourselves ten years to rid Nigeria of illiteracy. No matter what we do, if we do not find a way of educating, giving skills and empowerment, over 20 million Nigerian children that are out of school today will end up being rich recruitment centre for drug addicts, Boko Haram, bandits and other social misfits.”

https://pmnewsnigeria.com/2024/05/26/obasanjo-tinubu-yet-to-find-right-way-to-handle-economy-subsidy-removal-wrongly-implemented/

Sports › Re: Southampton Is Back, The Saints Are Back To EPL by ogododo(op): 7:34am On May 27, 2024

Why Leeds never win playoff for Wembley, dem don loose 6 times.

Sports › Re: Southampton Is Back, The Saints Are Back To EPL by ogododo(op): 6:30pm On May 26, 2024

Leeds neva win for Wembley.

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