₦airaland Forum

silvoclaira:
Na today you dey know?


U never see pepper for Nairaland

PDPdestroyer:
But why did ogododo stop giving us updates on the exchange rate, the moment the naira started gaining strength?
That’s to tell you the mindset of an average Obi supporter; they don’t want the country to progress as long as an Igbo man isn’t at the helm. That’s why I shake my head for the Yoruba Obidients, those ones are probably the most stupid people in the history of mankind

The Nigerian government plans to commence local manufacturing of vehicles in the next ten years.

Minister of Industry, Trade and Investment Doris Uzoka-Anite disclosed this on Friday at the launch of the Nigeria Automotive Industry Development Plan.

The Minister stated this on Friday while launching the Nigeria Automotive Industry Development Plan at a gathering that was attended by stakeholders drawn from the private and public sectors.

According to her, the country can produce vehicles, including motorcycles, tricycles, sedans and heavy trucks.

The Minister noted that the goal was to cut down on the cost of purchasing vehicles in the country.

“Nigeria can produce its vehicles. We have the raw materials, we have the skills, we have a market, and now we have a plan that can help us produce our vehicles.

“These vehicles include motorcycles, tricycles, sedans, and heavy-duty trucks.

“With this plan, we should see Nigeria fully producing its own vehicles within ten years. Our goal is to reduce the cost of purchasing a vehicle for the average Nigerian,” he said.

In his remarks, the Director General of the National Automotive Design and Development Council, Joseph Osanipin, stated that the policy proposed to help actualise the plan was a five-year tax holiday for assemblers of vehicles in Nigeria.


He said, “Through such fiscal initiatives, there is a deliberate focus on backward integration and component production.”

The development comes as vehicle imports climbed by 226.46 per cent to N1,063 trillion in 2023 from N325. 05 billion in 2022, according to data from the National Bureau of Statistics.

The Abuja Electricity Distribution Company confirmed the development to its customers through its social media handles.

The AEDC said the national grid collapsed at about 4:28 pm, plunging the country into darkness.

“Dear valued customers, please be informed that the current power outage is due to a system failure from the national grid. The system collapsed at about 16:28 hours today 28 March 2024, causing the outage currently being experienced across our franchise area.


“We appeal for your understanding as all stakeholders are working hard to restore normal supply,” the Abuja DisCo said.

Also, the Eko Electricity Distribution Company said: “Dear valued customer, kindly be informed there was a system collapse at 16:28hrs which has resulted in a loss of power supply across our network.


“We are currently working with our partners as we hope for speedy restoration of the grid. We will keep you updated as soon as the power supply is restored. Kindly bear with us.”


The PUNCH reports that the grid collapsed on February 4.

Recall that on December 12, 2023, The PUNCH reported that Nigeria witnessed a system collapse of its national grid, leading to a crash in power generation from 4,032.8MW to 43.5MW the preceding day.

Power generation figures obtained from TCN at the time showed that electricity on the system moved up to 115.4MW around 3 pm on December 11, 2023, before rising further to 240.9MW at about 4 pm.

Nigeria’s national power grid collapsed 46 times from 2017 to 2023, a report by the International Energy Agency said in a report.

According to the report, Nigerians endured more nationwide blackouts in 2023, especially on September 14 when the grid collapsed due to a fire on a major transmission line.

helinues:
No promising future than to send them to hell where they belong

Nansense

Racoon:
When it started, they thought it was right since it was their perceived enemies that are on the receiving end. Now the chicken has came home to roost. Rest on people. Too bad!

A former Minister of Communication Adebayo Shittu has urged the President Bola Tinubu-led Federal Government to promise bandits a promising future by negotiating with them.

Shittu said most of these bandits are able-bodied men whom the Federal Government should retain.

Featuring on Channels Television’s Politics Today on Tuesday, the former minister said non-kinetic approach in dealing with banditry would bring about a lot of results.

“If I am in position, it is not too late to use non-kinetic measures in negotiating with bandits, giving them a promising future. Let us retain them. Many of them are very intelligent, many of them are able-bodied,” Shittu said.

The ex-minister said the millions of out-of-school children in Northern Nigeria is a “production factory for banditry” in the country.

This is coming when controversial Islamic cleric, Ahmad Gumi, had urged the Federal Government to negotiate with bandits.

Gumi had urged Tinubu against toeing the path of former President Muhammadu Buhari who refused to negotiate with bandits.

The prices of rice, garri, and yam, popular staple foods in Nigeria, surged to 134.81 per cent, 109.16 per cent and 131.33 per cent, respectively, in February 2024 compared to last year.

This is according to the National Bureau of Statistics in its latest selected food price watch in February.

Accordingly, the report said 1kg of local rice increased by 134.81 per cent to N1,222.97 in February 2024 from N520.84 last year.

Similarly, the average price of garri increased to N723.45 in February 2024 from N345.88 in February 2023.

Also, the price of yam increased to N1009.56 in February 2024 from N436.41 in February 2023.

On a month-on-month basis, the prices of rice, Garri and yam rose by 19.69 per cent, 20.44 per cent and 11.93 per cent, respectively.

In addition, NBS said the price of 500g of sliced bread increased by 89.48 per cent between February 2023 and February 2024.

Former Vice-President Atiku Abubakar has condemned the recent attack that led to the killing of a village head and other residents of Rafi Local Government Area (LGA) of Niger State.

Daily Trust had reported how at least 21 people including the village head lost their lives on Thursday afternoon when bandits in their numbers reportedly invaded a market in Madaka, an agrarian community in Rafi LGA.



According to residents, the attackers raided the market around 3pm when the commercial activities were in full swing and started shooting at the crowd.

Among those killed was a butcher who recently got married. He had gone to the market to purchase some items needed for business when the bandits struck.


Reacting to the development, Abubakar, in a post via X on Friday, said Nigeria had become a “killing field” under President Bola Tinubu.

He called for the need to speed up the introduction of state police.

He wrote: “It is saddening that Nigeria has become a killing field. Thursday’s killing of scores of persons, including the village head and abduction of an unspecified number of people by suspected bandits in Madaka, in Rafi Local Government Area of Niger State, is yet another confirmation that contrary to assurances, insecurity continues to be rife in our country.

“We have to prioritise security and speed up the process of a constitutional amendment that will introduce State Police so that states and local authorities can deploy mechanisms that best suit their environment in tackling this hydra-headed insecurity in our land.


“My thoughts and prayers are with the families of the bereaved and the government and people of Niger State.”

A report by the Central Bank of Nigeria (CBN) has revealed that out of the total loans of N10.3 trillion disbursed as intervention, N193 billion has been declared lost and another N418.9 billion remains doubtful.

According to the report, which was last updated in September 2023, detailed the breakdown of the bank’s intervention funds over the years.


Conquering the clouds on a journey to Ta Xua with the team - Road Trip Vietnam Team - Nếm TV

A doubtful loan is one for which full repayment is questionable and uncertain. The degree of repayment of loans in question ranges from a complete loss to an uncertain loss unless corrective actions are taken.

According to the report, out of the N10.3 trillion in intervention funds, N4.4 trillion has been repaid, while approximately N5.8 trillion remains outstanding. Some of the loans are tenured, meaning they only fall due when the principal repayments mature.


However, only N969.8 billion of the outstanding amount was past due, as some loans had repayment tenures extending years beyond 2023. Based on this, the report claimed the percentage of repayments to amounts due was 75.8%.

The apex bank report also indicates that N289 billion of the loans are performing, N67.9 billion is substandard and N418.9 billion is doubtful and N193.9 billion of the loans are lost.

The apex bank governor, Yemi Cardoso, has repeatedly criticised the intervention funds carried out under the leadership of Godwin Emefiele, claiming that the bank could not implement the interventions appropriately.

Putindbutt:
Iweada, ogododo, omooba77, na same Whatsapp group, working for crumbs to promote negative news. bunch of losers dem.

gabbytabby:
Because I am doing my own little, last week, I happen to ask for the price of the products in the market.

Anytime I have time I call their username out.

The Senate President, Godswill Akpabio, on Tuesday, said those involved in the killing of soldiers in Delta State may be foreigners.

Some armed men had on Thursday, March 14, attacked and killed 15 personnel of the Nigerian Army during a peace mission to Okuama Community in Ughelli South Local Government Area of Delta State.

Speaking on Tuesday during a debate on two merged motions by Senators Abdulaziz Yar’Adua, APC, Katsina Central, and Edeh Dafinone, APC, Delta Central, Akpabio opined that those who killed the soldiers may be mercenaries.

He said, “We are not at war. I don’t think they are from the Niger Delta. They may be mercenaries.”


The Senate thereafter ordered the probe into the killings as it has asked its Committee on Defence, Army, Navy, and Air Force to liaise with the Military authorities to get more information on the remote and immediate cause of what it described as “a dastardly act.”


The Red Chamber further called on the Federal Government to apprehend the perpetrators and bring them to book, just as it observed a minute silence in the honour of those killed.

It also called for the recruitment of more policemen so that the military would not be dragged into civil matters.


The Senate, however, rejected a prayer to observe a minute silence or to commiserate with the families of innocent civilians killed in the process, saying that their numbers are still unknown.

While the Senate rejected an additional prayer for relief materials for the community by the National Emergency Management Agency, the Upper Chamber resolved that families of the killed soldiers should be compensated immediately as moved by the Deputy Senate President, Senator Jibrin Barau, and seconded by Senator Tony Nwoye.

EmiloCorn:
We don pack kanu already

EmiloCorn:
Stop calling that terrorist commanders name here

Kanu is the biggest and most dangerous terrorist in nigeria today (even if he didn't kill anybody)

It is how we like it to be in this government