A student of a public secondary school, Government Secondary School, Omu Aran, Kwara State, Olukayode Victor Olusola, scored 362 marks in this year’s Unified Tertiary Matriculation Examination, UTME, to be among the contenders for the highest scorers in the examination.

Though the Registrar of the Joint Admission and Matriculation Board, JAMB, Prof. Isaq Oloyede, organisers of the exam, had said the Board would not announce the highest scorer to avoid last year’s experience of confusing claims, Olukayode’s score is celebratory, as it is among the highest in recent years.

He scored 95 marks each in Mathematics, Physics and Chemistry and 77 in English Language.

His exploit is coming against the backdrop of the poor performance of candidates in the exam in which 1.4 million scored less than 200 marks out of 400. The exam was taken by over 1.8 million candidates

Also, Olukayode’s excellent performance is coming at a time when confidence is greatly eroding in what public schools have to offer and some private schools are boasting of being the most expensive in the country.

Olukayode was born in 2009 and hopes to study Electrical Electronic at the University of Ilorin, Kwara State.

His mother, Beatrice Tosin, while giving all the honour to God, also praised the studious and hard working nature of her child.

iwaeda:


Egbon, this laughable, same CBN that weekly increase custom duties, I have people, whose goods and vehicles entered demurrage due to high cost of clearing. Also banks have started hoarding cash due to CBN directive. How many can save self, when what they earn is bearly enough to feed. How will activities increase?

The Central Bank of Nigeria, CBN, has expressed worries over the declining economic activities in Nigeria.

The CBN deputy governor of Corporate Services, Bala Moh’d Bello, disclosed this in his personal statement at the end of the last Monetary Policy Committee meeting released on the Banks’ website on Tuesday.

He noted that the country’s Composite Purchasing Managers’ Index, PMI, declined sharply to 39.2 index points in February 2024 from 48.5 index points in the previous month.

He stressed that economic activity has contracted for eight months due to exchange rate pressures, inflation and security challenges.

“It is concerning to note that the Composite Purchasing Managers’ Index (PMI) declined sharply to 39.2 index points in February 2024 from 48.5 index points in the previous month.

“Economic activity has been contracting for eight consecutive months, mainly due to exchange rate pressures, rising input prices, security challenges, and other idiosyncratic headwinds. This calls for well-nuanced policy decisions targeted at price stability to forestall stifling economic activities and derailing output performance.

“Of more concern is the rising inflationary trend despite sustained hikes in the monetary policy rate with forecasts of further price increases in the near term.

“Both food and core inflation rose in February 2024, underpinning acceleration in headline inflation to 31.70 per cent in February 2024 from 29.90 per cent in the previous month.

“This continued rise in inflation was mainly due to high production costs, lingering security challenges and exchange rate pressures,” he said.

He added that the country’s inflation soared to 33.22 per cent in March, which is unacceptably high and requires coordinated efforts to curb.

“Inflation is currently unacceptably high and requires decisive and coordinated efforts to curb it, given its adverse impact on citizens’ purchasing power, investment decisions and broad output performance.

“The Federal Government’s initiatives addressing food insecurity, such as releasing grains from the strategic reserves, distributing seeds and fertilizers, and supporting dry season farming, are important and commendable,” he added.

Recall that the MPC raised the country’s interest rate to 24.75 per cent in March.

This represents a 14 percent increase in rate compared to the old rate of N1,164.84/$ previously used for the opening Form M and an increase of N162.51 on a dollar needed to clear goods at the port.

This means that importers opening Form M today will require more money to pay import duties than those who opened Form M at the weekend.

BusinessDay reports that last week, the naira had its worst run since the devaluation in January, falling 7.8 percent to N1,339.23 on Friday from N1,234.49 at the beginning of the week, according to data by FMDQ Securities Exchange.


The naira appreciated to N1,280/$ Saturday, an 8.57 percent gain compared to N1,400/$ Friday, according to multiple traders who spoke with BusinessDay.

In his reaction, Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, told BusinessDay that Nigeria needs to deemphasise revenue generation because too much emphasis on revenue causes growth, job creation, and development to suffer.

He said fiscal authorities need to stabilise rates to give policy support to critical sectors of the economy and also give breathing space to investors without burdening them with too much taxation.

Eugene Nweke, a freight forwarder, called for a fixed exchange rate regime for cargo clearing at the port to give relief to businesses, support trading activities, and stabilise the market value of products.

According to him, the port’s high import and clearing cost is exacerbating Nigeria’s inflation rate.

The Minister of Power, Mr Adebayo Adelabu, says the Federal Government requires 10 billion dollars annually in the next ten years to revive the nation’s power sector and end the liquidity challenge.

He added that such was not feasible in the country considering the budget size.

Adelabu said this in Abuja on Monday, at a one-day investigative hearing on halting the new electricity tariff increase by the Nigerian Electricity Regulatory Commission for onward implementation by the Distribution Companies.

The investigative hearing was organized by the Senate Committee on Power.

Adelabu said, “For this sector to be revived, the government needs to spend nothing less than $10bn annually in the next 10 years. “This is because of the Infrastructure requirement for the stability of the sector, but government cannot afford that.”

He added that to sustain the sector, there was a need to open the power market to investors.

Adelabu stated, “We must make this sector attractive to investors and to lenders.


“So for us to attract investors and investment, we must make the sector attractive, and the only way it can be made attractive is that there must be commercial pricing.

“If the value is still at N66 and the government is not paying subsidy, the investors will not come.

“But now that we have increased tariff for a Band, there is interest been shown by investors.”

He further stated that the major challenge in the sector was the absence of liquidity, saying that the sector has been operating on a subsidized tariff regime, given the absence of a cost-reflective tariff.

He, however, said the subsidy had not been funded over the years as huge liabilities had been owned by the Generating Companies (and the Gas Companies.

He added that the inability of the government to pay the outstanding N2.9 tn subsidy was due to limited resources, hence the need to evolve measures to sustain the sector.


The minister appealed to the lawmakers to support the process of paying the debt owed to operators across the value chain of generation transmission and distribution.


According to him, the increase is based on supply, saying that any customer that does not receive 20 hours of power supply will not be made to pay the new tariff. He said the government was committed to ensuring sustainable reform in the sector, saying that there was a need to clear the outstanding debt owed GenCos and Gas companies.

To improve power supply, he said the government was investing in hydroelectric power, adding that construction of 700 mega-watt power in Zungeru had commenced, while the Kashimbila Hydroelectric power plant of 40 megawatts was awaiting evacuation to improve generation.

The minister noted that there was also an ongoing investment in 26 small hydropower dams to boost electricity production across the country. However, members of the committee in their separate remarks decried the experiences of Nigerians on electricity supply over the years, despite the unbundling of the sector.

In his remarks, Senator Ola Ashiru ( APC, Kwara South) said Nigerians were paying for the inefficiency of power sector operators. Ashiru, who is Vice Chairman of the committee said there were a lot of inefficiencies across the value chain of generation, transmission, and distribution.

He said poor Nigerians must be protected, adding that there was a need to consider a reversal of the tariff increase.

Senator Solomon Larlong said there was no adequate consultation, before the increase, adding that issues of palliative should have been discussed and provided before the tariff increase.

Also, Senator Adamu Aliero called for the reverse of the increase in the price of electricity.


He said, “He said the public was not at peace with the increase, saying that the increase was over 200 per cent, hence the need for a reversal of the tariff increase.”

The committee chairman, Senator Eyinnaya Abaribe, said what Nigerians wanted was a solution to the issues and ways to ensure liquidity in the sector. He also decried the non of appearance of a company “ZIGLAKS” over the failed agreement to provide prepaid meters for Nigerians. He alleged that the company had received N32bn in 20 years to meter Nigerian electricity consumers.

The PUNCH earlier reported that the Senator representing Osun Central, Olubiyi Fadeyi, had lamented that he pays one million naira each for both power and purchase of diesel.

Other stakeholders that made presentations at the investigative hearing include the Nigerian Electricity Regulatory Commission, Manufacturers Association of Nigeria, Association of Power Generation, and Electricity Distribution Companies among others

The Senate through its Committee on Finance, has called for concerted efforts by all relevant stakeholders to rescue and sustain the stability of the naira.

The naira persisted in its decline against the US dollar within the official exchange framework, concluding at N1,309.88 on Thursday, April 25.

However, the naira, last week, recovered against the US dollar at the parallel market but began to depreciate again.

In a statement issued on Sunday, the Chairman of the Committee, Senator Sani Musa (APC, Niger East), said there was an urgent need for concerted efforts at tackling the instability and continuous depreciation of the naira.

He said, “The recent depreciation of the naira underscores the need for proactive measures to safeguard the stability and resilience of our currency.

“The Nigerian economy is facing significant challenges, exacerbated by both internal and external factors.

“Despite efforts to stabilise and bolster economic growth, the numerous initiatives and bold but necessary steps and policy decisions taken by President Bola Tinubu, the persistent depreciation of the Naira against major foreign currencies has become a pressing concern.”

“The recent depreciation of the naira underscores the need for proactive measures to safeguard the stability and resilience of our currency,” the Senate finance chairman lamented.

Musa added that the committee “is closely monitoring the situation and is committed to working collaboratively with relevant stakeholders to implement effective policies and strategies,” stressing the significance of addressing “the root causes of naira depreciation, including but not limited to fluctuations in global oil prices, fiscal deficits, and structural imbalances in the economy.”

The senator added that the committee is working out numerous “policy options” to “mitigate the impact of naira depreciation and foster economic stability.

“This includes robust oversight of fiscal policies, engagement with key stakeholders, and the formulation of targeted interventions to support key sectors of the economy.

“It is also the hope of the committee that our economic managers will adhere strictly to the norms and standards set by this administration to ensure that we achieve the desired outcomes in taking Nigeria to its economic growth and prosperity.”

Musa urged Nigerians “to remain vigilant and resilient,” noting that “together, we can overcome the challenges facing our economy and chart a path towards prosperity for all.

Omooba77:
Arsenal must win Tottenham.....
#COYG.. ..

The Nigerian Association of Road Transport Owners in the South-West zone has voiced its growing concerns about the deteriorating state of roads and escalating insecurity, appealing to governors and the Federal Controller of Works for immediate intervention.

The association also lamented multiple taxations by government agencies.

During the inauguration of newly elected members, the NARTO Zonal Chairman, Alhaji Bola Ogunyele, highlighted the pressing issues faced by transport owners and their impact on business operations.

Ogunyele lamented the difficulties faced by NARTO members while trying to address road-related issues with state governments.


According to him, in the past, they would contact the federal comptroller of works in the respective states, who would then engage with the state government on their behalf.

However, recent interactions with the governors have left NARTO members disheartened and unheard, he said.

Ogunyele, “We don’t know what is happening anymore. When you book an appointment with these governors, they don’t even care. They don’t want to hear about us.”


Ogunyele also appealed to the governors and other stakeholders to address pressing issues such as extortion, multiple taxation, and the presence of area boys (street urchins) in states like Lagos and Oyo.

He said, “Permit me to commend all the governors in the South-West zone, Lagos, Ogun, Oyo, Ekiti, Osun, Ondo, for working harmoniously with our members in their various states.

“I want to appeal generally that the issue of extortion, double taxation and area boys should be carefully checked in the states like Lagos and Oyo. They should also fix bad roads in the zone.

“If you buy a truck for about N50m, someone will just stay somewhere and start extorting money from you. How can you make a profit? So, we want to appeal to the governors in the South-West to please help us address the issue of insecurity.”

Despite the challenges, however, Ogunleye expressed confidence in the support of NARTO headquarters and the Federal Government, pledging that the newly elected members would remain focused and resolute in their efforts.

“The task before the zone is enormous as it takes time for a sustained injury to be healed as a result of the current economic predicament due to subsidy removal, but with the support of NARTO headquarters and the Federal Government, we shall not fail and remain focused,” he stated.

VICTOR AYENI writes about the violent attacks meted out to Lagos residents by louts who rob, extort, and harass hapless passers-by in different parts of the state

When a barrage of slaps landed on Peter Eze’s face on the evening of August 17, 2016, for the first time, he experienced one of the ugly scenarios he had heard about the ever-busy streets of Oshodi in Lagos State.

Eze, a native of the Ezeagu Local Government Area of Enugu State, set out from his parent’s home in Mushin to visit his uncle who lived in Ladipo.

The graduate of the Federal Polytechnic, Oko, Anambra State, who was 19 years old at the time, was listening to music through earphones attached to his Infinix phone, which he had placed in his pocket.

Shortly after getting off the bus in Oshodi, the 27-year-old walked along the road where he was accosted by thugs who attacked him and took his phone and wallet.

Recounting his ordeal to Saturday PUNCH, Eze said perhaps the incident could have been averted if he had crossed to the other side of the road because more people were walking on the left side than the right side he was walking on.

“I was enjoying the music while walking when a harsh voice cut through in Yoruba, which I am also fluent in. ‘Hey, look here!’ a guy said to me, but I ignored him and kept walking.

“In no time, about five guys circled me and charged at me, ‘We were calling you and you didn’t respond, are you mad?’ Before I could say anything, a slap landed on my face. I was still disoriented when another landed on my face again.

“The next thing I felt were hands going in and out of my pockets. They took my phone and my wallet.

“This happened at past 6 pm because I still had my wristwatch on me. It happened at a time when people could see what was going on, but people were just minding their business and looked on; nobody turned to help or intervene.

“One of the guys shoved me to the floor and began beating me. I just laid there in fear, unable to do anything. When they left me, I managed to sit up on the ground in confusion watching the people walking past me. Eventually, I had to clean myself up.

“There was no phone to call my uncle or my mum, so I turned back and trekked back home to Mushin. My eyes were swollen and my mother was alarmed, but thankful that they didn’t kill me.”

Highlighting other stories of robberies he had heard about since his experience, Eze described the Oshodi area as a zone “where many people get robbed at night and it’s always the underbridge side”.

Two men attacked in Ketu

Like most Saturday evenings, Ayomide Ojedele, who lives in the Mile 12 axis, goes to watch football matches at the Agiliti area in Ketu.

However, on March 16, 2024, the 29-year-old, came under an attack by some touts on his way home from a viewing centre.

“I was holding my phone to see through the dark when three guys suddenly cornered me around the Alapere axis and ordered me to bring the phone I was holding, I refused and it turned into a struggle. They were trying to wrest my phone from my hands and while that was going on, I pushed one of them to the floor.

“It seems like they were cultists because one of them spoke a slang term to the other, more like, ‘Give him one’.

“That was how one of them hit me with a cutlass in the head and my head began to bleed. Eventually, they snatched the phone from me.

“The only fortunate thing was that I was able to retrieve my Bank Verification Number and account number that night and blocked my account, so they couldn’t use the stolen phone to withdraw my money,” he recounted.

Another resident of Mile 12, Ebenezer Ayinde, who was on his way to visit his elder sister one evening in 2023 said he was attacked when he was around the overhead bridge at Ketu.

“This happened in broad daylight. Two area boys accosted me ordering me to stop. They told me, ‘Don’t you know us? We live here under the bridge.’ I didn’t answer them because I figured they were targeting the phone I was holding, so I quickened my pace.

“Because I didn’t respond to them, one of them walked ahead, stopped in front of me, and gave me a painful blow in my ear. They expected me to wait up so they could pounce on me and take my phone but I kept walking. People were there but they looked on as if nothing was happening.

“Later when I left the area entirely and checked my ear, I saw that blood was coming out, but at least, they didn’t succeed in robbing me,” Ayinde told our correspondent.

Filmmaker raises the alarm

Popular filmmaker Biodun Stephen, in a video that went viral on April 5, described the extortions and attacks on residents by miscreants in several areas of the city as a “pandemic” that Governor Babajide Sanwo-Olu, and everyone in power needed to tackle.

Stephen mentioned areas such as Oshodi, Agege, and Lagos Island, which she stated had become notorious for being unsafe for people to walk as they would be dispossessed of their phones and extorted by louts armed with weapons.

She said, “You can’t pick up a phone call on the road as you are walking. This bunch of guys will gather around you and they will demand your phone – if they don’t even snatch it. And if they snatch your phone, they will tell you brazenly to your face ‘If you want us to return your phone to you, then go and bring money.’

“We had a case of a lady whose phone was snatched from her and she ended up paying N50,000. Yesterday, this one happened a bit close to home.

“We kept on calling a crew member of ours and he wasn’t taking his calls. We were worried but we kept calling. He was forced to take his call and he was on the street of Agege.”

“Suddenly, seven or eight boys surrounded him brandishing weapons in broad daylight. Please, understand that this happened around 9:30 am; people were passing and everybody ignored him. Even the people selling stuff close to where this happened didn’t interfere. This implies that this is what is occurring in that place.

“They were pushing him (the crew member) around and threatening to stab him and nothing would happen till he paid them to retrieve his phone from them. He ended up parting with N5,000 yesterday.

“As he was telling us that story another person was confirming that the same thing happened to her three weeks ago. Please, in the name of God, this seed that has been planted has grown into a tree and it is multiplying; very soon it will become a forest. This is a country and a state that has laws and security,” she added.

Pleading with the governor and the state authorities to nip this problem in the bud, the film director added, “These boys have become brazen, stabbing people in broad daylight, demanding, exploiting, extorting, and threatening.

“We are not safe in our cars so don’t think this doesn’t concern you; they are already knocking on car windows. We are not safe!”

As the video went viral last weekend, several netizens took to social media to share their experiences of being harassed by louts in Agege, particularly around the overhead bridge.

The Agege Pen Cinema Bridge which was completed in September 2020 and inaugurated by Sanwo-Olu in February 2021 h[b]as been described by residents to be an unsafe zone for citizens due to the hoodlums that have found refuge there[/b].

Saturday PUNCH observed that in a section of the bridge, there was an abandoned rail line dotted by vendors and hawkers of various wares and two staircases that were often used by pedestrians to cross the lines.

The site has been described as the ‘axis of evil’ where robberies, extortions, and harassment by louts take place, even in broad daylight.

An Instagram user, Shayez, wrote, “I work in the Agege Local Government (Area) and we’ve been advised never to pick (phone) calls or put anything tangible in our bags when walking across Agege underbridge and its environs as one could lose his or her life to these street urchins.

“You have to adhere to the warning, otherwise you might not live to tell the stories. I’ve heard over 10 stories of how they hijacked people’s bags, and phones, and in some cases, some victims get killed!”

Corroborating Shayez’s stance, another Instagram user, Obafemi Adeleye, stated, “These urchins are always under the bridge, once you are about to cross the railway.

“They are mostly at that spot when you are about to make use of the stairs and they attack mostly females. That Agege bridge is worse. It has happened to me too but thank God I was raised on the street.”

How hoodlum threatened to kill me – Victim

Recounting his experience on social media a Lagos resident who gave his name as Pelumi said he and his friend were accosted by a lout in Agege who ordered them to hand over their money.

“This happened to me and my friend in Agege on the night of December 26, 2021. The guy stopped us and greeted us like a normal human being. My friend answered and I also answered. The next thing he demanded we give him something. I said I didn’t have my friend likewise.

“Then he said in Yoruba, ‘Ma gun iya yin ni isinyi’ (I will just stab your mothers now). My friend agreed to give him N2,000 but he refused, asking us whether he told us he was hungry, and why we were giving him N2,000.

“He turned to me and asked about mine. I told him I didn’t have any money and he brought out his knife and said, ‘Iya e ma foju sun kun e nisinyi’ (Your mother will soon cry over your death).

“I was shocked. Thank God for an old woman selling water close by who told him to leave us. That was when he let us be. Mind you that Agege Oju Irin (old railway) side is their base,” Pelumi, in a tweet posted on April 5, recalled.

Another social media user who gave her name as Olufunke also wrote, “Those Agege boys are terrible! Are they all on drugs? Even when you are walking, they come and start harassing you for money and touching you.”

Sharing a video on March 20, an social media user, @Ogeshinikese, lamented how miscreants extort money from pedestrians who pass through the stairs at the Agege underbridge.

“The authorities should help address boys raiding people there. I have slapped them when confronted but I can’t imagine how many times I have to be violent. I passed through Agege under the bridge but I don’t know the update there because I only drive across the bridge now.

“The Force Public Relations Officer should help us talk to the police in Agege because I think they’re scared to act,” he wrote.

In another video posted by the same X user on April 5, in which some louts were seen having an altercation with three men, he said, “This nonsense is happening in a state, with everybody fighting. They are demanding N100 from passers-by. If you don’t pay, there’s serious beating.”

The red zones

Aside from Agege, several other Lagos residents told Saturday PUNCH how hoodlums perennially harassed passers-by in areas such as Bariga, Orile, Somolu, Obalende, Ojo, and Mile 2.

“Areas like Bariga, Somolu, and the Bajulaye axis are red zones where these incidents happen. Those thugs are something else.

“I have seen them stop commercial bikes or tricycles, order passengers to come down, and give them money. If you dare resist, big slaps can land on your face, and mind you, these harassments occur in broad daylight, not even at night or evening and people around will be looking on as if it’s a skit,” a shoe vendor, Isaiah Adeogun, told our correspondent.

Corroborating Adeosun’s opinion, an Uber driver, who gave his name as Samuel, also told our correspondent that certain areas in the state were unsafe for car owners and pedestrians, especially in the evenings.

He added, “In Orile, you will see the thugs armed with cutlasses and they will hit your car’s bonnet or windows and ask you for money, if you dare open the window, you’ll get robbed and extorted. You will see them attacking people even in broad daylight.

“In areas like Oshodi, Ketu, Mile 2, Idumota, Ikotun, or Obalende, I can’t even park my car to get down or purchase something if it’s evening. Some other unsafe zones are Westminster (Olodi Apapa), Ojo, Volks, and even Alausa towards CMD Road under the bridge.”

Wistfully, a digital marketer, Chris Nomor, told Saturday PUNCH how he was attacked and robbed in broad daylight in Iyana Iba, along the Ojo-Lagos State University Expressway.

“It happened in 2017 when I was going to visit a friend. I alighted in the area and as I walked towards the street I was visiting, I suddenly felt a slap from the back, and then another.

“When I turned around, I saw that there were five louts. They descended on me with fists and took my bag. My laptop, ATM card, wristwatch, and phones were taken. I later sneakily removed my international passport before they ordered me to walk away from there.

“They emptied my account. I had just returned to Nigeria at the time and I never experienced such a thing before. For days, I still couldn’t believe it was real,” he said.

Our correspondent gathered that several footbridges in Ikeja Along, Obanikoro, and Ojota, as well as pedestrian bridges in Ladipo, Berger and Oshodi are also blackspots as they are often inhabited by robbers and drug-addled thugs who attack and dispossess passersby of their valuables.

The pedestrian bridges, it was learnt, have become a profitable hub for pickpockets and other small-time thieves in addition to the miscreants who harass women.

A viral video shared online by Guardian Nigeria on March 20 showed a thug who blocked two women carrying loads from climbing a bridge until they paid the N100 levy he demanded.

The video also showed other pedestrians without any load having unhindered access to use the bridge.

The caption read, “In Yaba, Lagos State, individuals are imposing a fee of N100 on pedestrians carrying loads to use the pedestrian bridge, coinciding with the enforcement of laws against jaywalking in Lagos. Concerned citizens on social media, including X, urge the state government to address this issue.”

Following the report, operatives of the Lagos Environmental Sanitation Corps arrested the miscreants who were immediately charged in court.

Giving an update on the matter, the Commissioner for Environment and Water Resources, Tokunbo Wahab, on March 21, wrote on his official X account, “As a follow-up to the arrests made of miscreants extorting traders on the pedestrian bridge across Lagos, the magistrates’ court sitting in Oshodi convicted the defendants for breach of public peace and illegal collection of money from people with goods.

“Magistrate Oshikoya sentenced the defendants to one month in prison. Also, the magistrates’ court sitting in Oshodi convicted 17 defendants for crossing the highway and not making use of the pedestrian bridges. The court found them guilty and sentenced them to two months in prison with an option of N7,000 fine.”

In another post on April 5, Wahab wrote, “A total of nine miscreants were apprehended by the officials of the Lagos State Environmental Sanitation Corps during (an) early morning operation at Bolade, Shogunle, PWD, and Ladipo pedestrian bridges for preventing people from using the facilities.”

Police arrest 303 suspects

On Monday, the state Police Public Relations Officer, Benjamin Hundeyin, in a statement, disclosed that the police arrested no fewer than 303 suspects during a raid of criminal hideouts following reports of illegal seizure of phones within the Lagos metropolis.