₦airaland Forum

Penguin2:
Believe it or not, the outcome of the 2023 presidential election will forever remain controversial especially after INEC turned off the IREV and shut down every transparency in the management of the result of that election. In the end, ‘losers’ were told to “Go To Court” in a manner that seemed like mockery.

However, the ‘losers’, and indeed all Nigerians, held up hope and believed that the judiciary will correct what ill they observed during the election especially when you consider that INEC failed to keep to letters of both the Electoral Act and their Guidelines but alas, the judiciary arrived at a judgment they said was the right decision but I doubt majority of Nigerians agree with them.

Now, having seen that INEC is not likely to obey their own rules and that the judiciary may not give a judgment acceptable to many, do you think Nigerians would have the kind of patience they had last year should the 2027 elections be rigged or would they rather resort to self help?

Mr Umeh Kalu (SAN), counsel for the Senate President, Godswill Akpabio, has said that the decision and resolution to suspend Senenator Abdul Ningi (PDP-Bauchi) was that of the Senate sitting in plenary and not that of Akpabio.

Kalu stated this in a letter to human rights lawyer, Femi Falana (SAN) titled, “Re: Request to Lift the Suspension of Sen. Abdul Ningi” and made available to newsmen in Abuja on Thursday.

Ningi was suspended by the Senate for three months on March 12 over the 2024 Budget padding allegation.

Kalu in the letter said, “We are solicitors to Sen. Godswill Akpabio and write you in respect of the above subject matter at his instance.

“Your letter of March 27, with the above caption has been referred to us with instructions to react thereto.

“We have carefully read through your analysis of the facts and circumstances leading to your client’s suspension from the Senate.

“We are unable to find reason in your verdict of our client’s sole culpability in the said suspension. We therefore plead non est factum for our client. ”

The letter further read, “In addition to the above and contrary to the contents of your letter under reference, our client was at no time your client’s accuser, prosecutor and
judge.

“Our client’s role at the session of the Senate that led to your client’s suspension was and remains the statutory role of a Legislative House Presiding Officer, which role equally includes pronouncing the majority decision of the Legislative House at the end of debate and voting.

“Permit us to mention your attempt at drawing our client’s attention to legal authorities and pronouncements of our courts of record on the unconstitutionality of suspending members of Legislative Houses.

“Which attempt we dare say was unhelpful, due to your failure or refusal to make available, the relevant particulars of the said court decisions in your letter.

“You may wish to provide these legal authorities which you have alluded to, bearing in mind that every decision of a court emanates from its peculiar facts, circumstances and extant laws.

“In as much as it may not be necessary to canvass herein all the remedies available to our client, in response to your threats of a court action and petition to the Legal Practitioners Disciplinary Committee (LPDC), it is important we mention that legislative proceedings are guided by rules.

“We urge you to give due consideration to the legal issues raised in this letter and be guided accordingly in your further and future action in respect of this matter.”

FactsZoneAfrica:
In an unparalleled move that cements his status not just as a music mogul but as a luxury icon, Nigerian superstar Davido has reportedly expanded his fleet of private jets.

With the acquisition of a Bombardier Global 7500, valued at a whopping $80 million, Davido becomes the first African artist to own not one, not two, but three private jets.


https://www.youtube.com/watch?v=6A4wBx_0Yb0

RenaissanceGuy:
Very true. They want to make it look like it's the richest of the rich that'd be affected whereas probably up to 70% would be affected. I recharged yesterday night and I got less than half of what I used to get. I stay in Abuja, but not in highbrow areas like Maitama, Asoroko, Wuse, but I'm classified under their useless Band A. Imagine being classified under the same rating with people living in mansions whereas where you live, a BR flat isn't up to ₦300K.

The Nigerian Electricity Regulatory Commission, on Wednesday, approved an increase in electricity tariff for customers under the Band A classification.

The Vice Chairman, NERC, Musliu Oseni, said the increase will see the customers paying N225 kilowatt per hour (KW/h) from the current N66.

PUNCH Online notes that customers under Band A are those who enjoy 20-24 hours of electricity supply daily while those in Band B are subscribers who enjoy 16 to 20 hours. Those in Band C enjoy 12 to 16 hours daily.

Also, Band D subscribers are beneficiaries of eight to 12 hours daily and Band E subscribers only enjoy four to eight hours of electricity consumption everyday.

Speaking at a press conference in Abuja, Oseni said customers in Band A represent a 15 per cent of the 12 million electricity customers in the country which is about 1.8 million subscribers.

He added that the review will not affect customers on the other bands.
Citing sources, Bloomberg had on Tuesday reported that power companies will be allowed to raise electricity prices to N200 ($0.15) per KW/h from N68 for urban consumers.

It quoted people in the presidency with knowledge of the matter saying this was in a bid to attract new investment and slash about $2.3 billion spent to cap tariffs.

In this report, PUNCH Online highlights the Lagos State subscribers of the Band A tariff plan who are beneficiaries of the 20 to 24 hours of electricity daily consumption in a document prepared by Ikeja Electricity Distribution Company.

1. Ijaiye (33-Ota TCN-AMJE) in Abule-Egba Business Unit enjoys 998 KW/h
2. Ijaiye (33-Ota TCN-Abeokuta Expressway) in Abule-Egba Business Unit enjoys 930KW/h
3. Able-Taylor (11-EkoroINJ-T1-Ekoro) in Akowonjo Business Unit enjoys 920KW/h
4. Egbeda (11-AlimoshoINJ-T8-Alimosho) in Akowonjo Business Unit enjoys 889KW/h
5. Anifowoshe (11-New AlausaINJ-T4-Siyanbola) in Akowonjo Business Unit enjoys 929KW/h
6. Anifowoshe (11-Adeniyi JonesINJ-T1-Ajao) in Akowonjo Business Unit enjoys 941KW/h
7. Anifowoshe (11-New AlausaINJ-T6-Awolowo) in Akowonjo Business Unit enjoys 889KW/h
8. Anifowoshe (11-Adeniyi JonesINJ-T1-Adeniyi Jones) in Akowonjo Business Unit enjoys 982KW/h
9. Ogba (11-OgbaINJ-T3-Oba Akran) in Akowonjo Business Unit enjoys 888KW/h
10. Ogba (11-Oke IraINJ-T2-Kayode) in Akowonjo Business Unit enjoys 867KW/h
11. Ogba (11-Oke IraINJ-T2-Mangoro) in Akowonjo Business Unit enjoys 943KW/h
12. Ojodu (11-OjoduINJ-T2-River Valley) in Akowonjo Business Unit enjoys 910KW/h
13. Oregun (11-MarylandINJ-T2-Ojota) in Akowonjo Business Unit enjoys 973KW/h
14. Oregun (11-OpebiINJ-T1-Olusosun) in Akowonjo Business Unit enjoys 924KW/h
15. Oregun (11-New AlausaINJ-T5-Kudirat) in Akowonjo Business Unit enjoys 977KW/h
16. Oregun (11-New AlausaINJ-T6-Ogundana) in Akowonjo Business Unit enjoys 981KW/h
17. Oregun (11-New AlausaINJ-T4-Allen) in Akowonjo Business Unit enjoys 989KW/h
18. Oregun (11-New AlausaINJ-T5-Alausa) in Akowonjo Business Unit enjoys 945KW/h
19. Oregun (11-New AlausaINJ-T4-Oregun) in Akowonjo Business Unit enjoys 980KW/h
20. Oregun (11-New AlausaINJ-T5-Morrison) in Akowonjo Business Unit enjoys 950KW/h
21. PTC (11-IlupejuIJN-T4-Ikorodu) in Akowonjo Business Unit enjoys 892KW/h
22. PTC (11-MarylandIJN-T1-PTC) in Akowonjo Business Unit enjoys 858KW/h
23. PTC (11-IlupejuIJN-T1-Bhojson) in Akowonjo Business Unit enjoys 923KW/h
24. PTC (11-PTCIJN-T2-Awuse) in Akowonjo Business Unit enjoys 991KW/h
25. PTC (11-IlupejuIJN-T3-General Hospital) in Akowonjo Business Unit enjoys 892KW/h
26. Lasunwon (33-IkoroduTCN-Fakale Source) in Ikorodu Business Unit enjoys 890KW/h
27. Odogunyan (11-OdogunyanINJ-T2-Centex) in Ikorodu Business Unit enjoys 854KW/h
28. Ago (11-ItireINJ-T3-Ago) in Oshodi Business Unit enjoys 851KW/h
29. Ago (33-ItireTCN-Ago 1) in Oshodi Business Unit enjoys 933KW/h
30. Ajao (11-AjaoINJ-T2-New Estate) in Oshodi Business Unit enjoys 906KW/h
31. Idimu (33-EjigboTCN-AGODO) in Oshodi Business Unit enjoys 956KW/h
32. Ikosi (11-MarylandINJ-T3-Demurin) in Shomolu Business Unit enjoys 947KW/h
33. Ilupeju (11-IlupejuINJ-T3-Coker) in Shomolu Business Unit enjoys 960KW/h
34. Ilupeju (11-IlupejuINJ-T3-Palmgroove) in Shomolu Business Unit enjoys 960KW/h
35. Magodo (11-MagodoINJ-T2-Bashiru) in Shomolu Business Unit enjoys 939KW/h
36. Magodo (11-MagodoINJ-T1-Emmanuel Keshi) in Shomolu Business Unit enjoys 998KW/h
37. Mende (11-MarylandINJ-T3-Sylvia) in Shomolu Business Unit enjoys 944KW/h
38. Mende (11-MarylandINJ-T2-Westex) in Shomolu Business Unit enjoys 981KW/h
39. Olateju (11-IlupejuLocal-T1-Industrial) in Shomolu Business Unit enjoys 982KW/h
40. Oworonshoki (11-OworoINJ-T1-Hospital) in Shomolu Business Unit enjoys 985KW/h
41. Oworonshoki (11-OworoINJ-T1-Anthony) in Shomolu Business Unit enjoys 965KW/h

fitinwell:
Story... Just bring down Fuel price ..

Open Borders wider.. like pregnant woman due for delivery...

Not every seller ...stock up during dollar rising against the Naira ..

Many seller are selling to Nigerians with Old stock since September 2023 .. having excessive gains..

Last year February 2023... We brought Naira with Naira...

Today is another story..

We pray for a better tomorrow...



And see as Food and commodities go surplus and eventually prices go reduce..

Starpro87:
When was the last time you ate bread?

libertyfather:
till when?

Economists have stated that it will take some time for Nigerians to feel the impact of the current strengthening of the naira against the dollar on the prices of commodities in the country.

The Chief Executive Officer of Economic Associates, Ayo Teriba, explained to Sunday PUNCH that the impact of the naira on prices exhibited a time lag.

He noted, “Foods that have been bought at the old exchange rate will still be tied to the old exchange rate.

“Whether a month or a quarter, it depends on the duration it takes to order and sell. The effect we should hope to see is that the prices have stopped going up. We call it acceleration.”

Echoing similar sentiments, President of Nigerian Economic Society, Adeola Adenikinju, highlighted the economic rationale behind the delay in price adjustments.

Adenikinju stated, “What people have in stock now was purchased at high prices. If they sell at lower prices, they are going to record losses.

“So until they replace the current one, that is when they will reduce their prices.

“But currently, to avoid losses, they will still sell at the rate at which they bought it. We will only start seeing the current prices of things as current stock is sold and new stock is acquired.”

According to Adenikinju, the central bank’s actions in the next few weeks will also reflect what the sellers will do.

“They will be watching the markets to see if CBN will be able to sustain the stability of the naira,” he opined.

Nigeria has been battling soaring inflation, which accelerated to 31.70 per cent in February from 29.90 per cent in the previous month, driven primarily by food inflation, which rose to 37.92 per cent.

To tame the pacing inflation, the CBN raised the benchmark interest rate to 22.75 per cent in February from 18.75 per cent and further reviewed it upward to 24.75 per cent on Tuesday.


According to Professor of Economics, Babcock University, Onakoya Adegbei, the fact that prices go up and never come down is not peculiar to Nigeria.

He said, “Reduction in production usually comes with a lag because of rigidity in production.”

He emphasised that market expectations usually drive the delay.

“There is usually a lag and that is due to the expectation theorem. For example, if you expect the price of rice to increase, you will buy more and keep it in the house, So, it will increase your demand. But if you expect that prices will fall, what you already have you cannot dispose of.

“Reduction in production usually comes with a lag because of rigidity in production. If you already produce a certain product at a certain price and the price in the market is falling, you will then wait to see if the reduction will be sustainable. If you see that it is sustainable, then you can make a move to reduce the prices of your product. It is a lag effect,” Adegbei explained.

Favour Uche, a foodstuff seller at EFAB market, told Sunday PUNCH, “The price of rice didn’t reduce even now that the dollar is down.”

Uche emphasised the challenges faced by traders, including the expenses incurred to maintain product quality amid infrastructural constraints.

“The price of rice didn’t decrease. Even now that the dollar is down, it still hasn’t reduced. For example, a carton of Titus fish cost N90,000 two weeks ago but today, the same carton of fish is sold at N95,000 as of March 29, 2024.

“Even with the fact that the dollar has reduced, but being in the system, I think I understand why. It is because they use one-third of their profit to buy diesel to cool these fish and keep them frozen. After all, there is no light. So, I understand their pain and why the prices are like that,” she added.

Another trader, Abdul Yusuf, who sells meat, asserted, “Price did not come down even with the dollar fall.

“Two weeks ago the price of one kilogramme of meat was selling at N4,800 but now, it is N5,000. So, the price did not come down even with the dollar falling.”

GuyWise101:
MummyIMadeit pls give us updates

Biodun556:
Well, on the retail side, it’s N1,500. Dangote refinery has already started putting diesel in the market and people are buying that.

https://www.channelstv.com/2024/03/30/with-dangote-refinery-diesel-prices-will-fall-below-n1000-by-may-rewane/

MichaelSokoto:
Mr. Paramecium, average sized bread is #1800 in Benin here!

Should I name other hiked items for u since ur balablu mounted a hijacked podium?
ehn Mr. Paramental!

No provoke me oo!

Rantingpiglets:
FULANI Herdsmen killed YORUBA OBAs.. when are you re-electing another OBA that FULANI will kill again?

LadyRosa:
Good development but let it defeat 216 to dollar as at during Jonathan's time.

waternogetememy:
IF U LIKE MAKE IT IN SAMBISA FOREST.

TheLastProphet:
Infact air peace is on point on this one. Ishiagu is probably the most expensive traditional attire worn in Nigeria. Do you expect him to use one local cut and join attire to represent Nigeria?
Isiagu is Nigerian traditional cloth and whoever is not happy can use Ethiopian airline.
Spits