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 Politics › Re: The Economic Illiteracy At The Heart Of ‘Tinubunomics’ by treesun(op): 8:46pm On Feb 19, 2024 |
Nlfpmod! |
| Politics › The Economic Illiteracy At The Heart Of ‘Tinubunomics’ by treesun(op): 11:27am On Feb 19, 2024 |
Bola Tinubu, Nigeria’s self-regarding president, says he deserves an entry in the Guiness Book of World Records for his economic reforms. Speaking at the 10th German-Nigerian Business Forum in November last year, Tinubu said: “To me, if you didn’t mention me in the Guiness Book of Records, I would find a way to insert myself because I did it (the economic reforms) without expectations.” But whether he said that in jest or in earnest, the truth is that he goofed spectacularly, displaying a hubristic detachment from reality. Think about it. When, as president, your policies inflict untold suffering and misery on millions of citizens, it’s utterly arrogant and insensitive to beat your chest and demand global accolades for your “achievement”. It is also inconsiderate and out-of-touch to tell citizens to endure excruciating pains now for some pie-in-the-sky gains in the future. Thomas Jefferson famously said that “the care of human life and happiness is the only legitimate object of good government”. Thus, the real test of any policy is its impact on people’s lives. But Tinubu’s economic “reforms” commiserate and dehumanise ordinary Nigerians! Yet, some dubbed Tinubu’s economic approach “Tinubunomics”, implying that there’s a philosophy behind it. But there’s no philosophy behind his economic “reforms”. Yes, removing the fuel subsidy and scrapping the naira peg are liberal economic policies. But Tinubu is not an economic liberal at heart. He is a Keynesian, who believes in state intervention, massive public borrowing and fiscal activism, which fuel inflation and are anathema to free-market economics. Truth is, he introduced the “reforms” not because he instinctively believed in them or understood their mechanics and wider implications. So, why did he introduce them? Well, to win over the international community. Given the negative international reactions to his controversial election, Tinubu decided to attract the positive attention of the world. Nothing could be more attention-grabbing than ditching the costly fuel subsidy and the market-distorting fixed exchange rate system, which foreign governments and investors had long called for, but unheeded by the Buhari government. It worked spontaneously. For instance, the Financial Times, which had described Tinubu’s election as “deeply flawed”, later praised him after he introduced the two policies, saying Tinubu “gets off to a dramatic start.” Last week, the British High Commissioner to Nigeria, Richard Montgomery, echoed the international sentiments when he said: “Recent big and bold reforms by the Federal Government of Nigeria and the Central Bank are boosting optimism amongst international investors that the country is on the right path.” When, as president, your policies inflict untold suffering and misery on millions of citizens, it’s utterly arrogant and insensitive to beat your chest and demand global accolades for your “achievement.” But there are two problems. First, the international endorsement will not automatically translate into foreign investment inflows. In fact, foreign investors are leaving Nigeria; they’re not investing in the country. Second, the domestic effects of the “reforms” – collapse of the naira’s exchange rate and skyrocketing inflation – are harming Nigeria’s economy and making lives unbearable for most Nigerians. Unfortunately, the international and domestic effects feed each other: with continued shortage of foreign exchange, the naira’s value will fall steeply, and inflation will rise sharply; and with high inflation, foreign investors will ditch the naira, precipitating its further rout against the dollar, thus requiring high interest rates to tackle the run-away inflation. But rising interest rates would further damage the economy. Those are the multiplying or knock-on effects of Tinubu’s “reforms”. Remarks on the economy and monetary policy Decision-Making: Key to powering business continuity Here, then, is the question: Why have the withdrawal of the fuel subsidy and the elimination of the fixed exchange rate failed to produce the intended outcomes? Well, to answer that question, we need to understand the distinction between enablers and drivers of growth. Drivers are the direct causes of growth; enablers are factors that help overcome barriers to growth. Withdrawing the fuel subsidy and scrapping the currency peg are mere enablers of growth. Removing the fuel subsidy allows market forces to determine the pump price of petrol, saving the government money. Scrapping the currency peg lets demand and supply dictate the value of the naira, thereby enabling foreign investors to obtain dollars and repatriate their profits. Both are necessary enablers, but neither is a driver of growth. So, what are the drivers of growth? Well, the first driver of growth is a strong macroeconomic environment – low inflation, low interest rate, stable and competitive exchange rate, low unemployment and supply-side incentives that make industries more efficient and productive. The other drivers of growth are a diversified economy and export base, which can only be facilitated by a strong macroeconomic environment as well as supply-side incentives. But Nigeria’s macroeconomic fundamentals are extremely weak, and the country is a mono-economy that exports virtually nothing of worth besides crude oil. Now, when a country doesn’t refine its crude oil but imports expensive refined products, it will import inflation and, without fuel subsidy, will punish its own people. Similarly, a country that doesn’t export any value-added product must know that floating its currency would decimate its value and lead to imported inflation. A weak currency is not necessarily bad if a country is export oriented as it will make its exports cheap and internationally attractive. But for a country that exports little of value but imports most things, a weak currency is almost suicidal. One solution, short of exporting valued-added products and curbing imports, is to attract significant foreign capital. But foreign investors won’t rush into a country whose macroeconomic fundamentals are not stable and strong and whose business environment is not investor friendly. Again, to repeat, Nigeria suffers acutely on both fronts. Nigeria must diversify its export base and reduce its import bill, not through protectionism but by Nigerian industries producing quality goods that Nigerians would want to buy and consume. But that requires radical economic transformation. However, in the meantime, the government has a duty to stabilise the macroeconomic environment. It must rein in public spending and borrowing and tackle inflation to prevent capital flight and incentivise investment inflows. Floating the naira, without capital controls to stop money leaving the country, means that any irresponsible fiscal or monetary policy will trigger capital flight and discourage capital inflows. Sadly, Tinubu’s government is fiscally reckless, borrowing heavily and spending profligately. Furthermore, Nigeria lacks strong and credible economic ministers that can inspire the confidence of foreign investors. The finance minister, Wale Edu, budget minister, Abubakar Bagudu, and CBN governor, Yemi Cardoso, are Tinubu’s cronies, who lack the international stature to wow the international markets. Indeed, the CBN’s recent policies would discourage foreign investors. For instance, the CBN recently banned payment of remittances in dollars and stopped International Oil Companies (IOCs) from repatriating 100 per cent of their earnings; they can only repatriate 50 per cent. That’s capital or exchange control and won’t incentivise investment flows and diaspora remittances into the country. Read also: Tinubu appoints Idris, DG, NCDC Coming back to the fuel subsidy, well, it’s expensive, costing about $10billion annually. But corruption probably accounted for half of that amount; the government should have tackled the corruption instead of abolishing the subsidy itself. Subsidies aimed at reducing the prices of goods for consumers are prevalent worldwide. As for the currency peg, it had to go. The utterly corrupt arbitrage that allowed powerful people to buy dollars cheaply at the official rate and sell them at the parallel market, scooping millions, even billions, of naira was unsustainable. Equally, a fixed currency regime that resulted in the rationing of dollars, thereby preventing investors from taking their money out, damaged investor confidence. Yet, scrapping the fuel subsidy and the naira peg won’t transform Nigeria’s economy without strong macroeconomic fundamentals and a diversified export base. Thus, Tinubu’s chest-beating, while his half-cooked “reforms” devastate lives, is grating. He truly deserves an entry in the Guiness Book of Records. Well, for economic illiteracy and immiseration! https://businessday.ng/columnist/article/the-economic-illiteracy-at-the-heart-of-tinubunomics/ |
| Politics › Re: Forex Crisis: Atiku’s Solution Will Hurt Economy, Says Presidency by treesun(op): 8:20am On Feb 19, 2024 |
Give us your own solution! |
| Politics › Re: Stunning Stories From Kidnap Forests : Human Bones Littered Marshy Surrounding by treesun(op): 11:31pm On Feb 18, 2024 |
McStoic:70% of Nigerians dont read! |
| Politics › Forex Crisis: Atiku’s Solution Will Hurt Economy, Says Presidency by treesun(op): 11:29pm On Feb 18, 2024 |
The Presidency has said a controlled floatation of the Naira to prevent further devaluation would only return Nigeria to the economic regime of the embattled former Governor of the Central Bank of Nigeria, Godwin Emefiele. It said the policy, which saw about $1.5bn spent monthly to shore up the Naira, fueled financial malpractices such as arbitrage which hurt the economy. The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, made this assertion in a statement he signed on Sunday titled, ‘Once again, former Vice President Atiku Abubakar got it wrong.’ Onanuga was responding to a former Vice President and presidential candidate of the Peoples Democratic Party at the 2023 polls, Atiku Abubakar, who argued that Tinubu’s economic policies, especially the unification of the exchange rate, were implemented hastily without adequate planning and proper consultations with stakeholders. THE LOUNGE: Man Asks For Divorce To Marry Office - Lover After Getting Educated By Wife0:00 / 0:00 President Tinubu’s economic reforms of the past nine months have sparked collateral instability in the value of the Naira, heaping hardship on Nigerians as food prices continue to soar. Atiku criticised the government, saying, “The wrong policies of the Tinubu administration continue to cause untold pain and distress on the economy and the rest of us cannot keep quiet when the government has demonstrated sufficient poverty of ideas to redeem the situation.” He argued that “Given Nigeria’s underlying economic conditions, adopting a floating exchange rate system would be an overkill. We would have encouraged the Central Bank of Nigeria to adopt a gradualist approach to FX management. A managed-floating system would have been a preferred option.” Atiku observed that the Naira may fluctuate daily in such a system, but the CBN will step in to control and stabilise its value. “Such control will be exercised judiciously and responsibly, especially to curb speculative activities,” he noted. But the Presidency disagreed, saying, “Atiku’s alternative of a controlled floatation of the Naira is similar to the policy of Godwin Emefiele when an estimated $1.5bn was spent monthly to shore up the Naira, while arbitrage or round-tripping went on unhindered. Sadly, it was perpetrated by people close to the corridors of power.” Onanuga noted that last Thursday’s meeting between the president, his vice, and state governors was not to discuss currency fluctuation as Atiku claimed but food supply and how to drastically reduce the fluctuation in food prices. Citing Tinubu’s plea to Governors to allow the CBN to work and his stance not to establish a commodity board, he said, “We expected Alhaji Atiku to praise President Tinubu for maintaining this stance and for not interfering with the business of Central Bank.” “It is false and preposterous for Atiku to claim that CBN’s FX management policy was hurriedly put together without proper plans and consultations with stakeholders and that the apex bank is hamstrung by Tinubu’s government in implementing a sound FX Management Policy’ that would have dealt with such issues as increasing liquidity, curtailing/regulating demand, dealing with FX backlogs and rate convergence.’ “Contrary to former VP Atiku’s claim, Cardoso’s CBN is implementing a raft of policies to stabilise the Naira and end volatility in the market and this is already yielding some positive results,” he added. The Presidency also cited figures from the National Bureau Statistics for Q4 2023, which stated that Nigeria recorded a 66.27 percent increase in capital inflow, compared with Q3, before Cardoso arrived at CBN—in Q3, the capital inflow was $654.65m and rose to $1.09bn in Q4. “Atiku will agree that the rise in capital inflow suggests massive investors’ confidence in Nigeria and the policy direction of the Tinubu administration,” it argued. Therefore, it said when juxtaposed with the policy options being implemented by the CBN, Atiku’s alternative of a controlled floatation of the Naira is similar to the policy of Godwin Emefiele. https://punchng.com/forex-crisis-atikus-solution-will-hurt-economy-says-presidency/ |
| Politics › Re: Stunning Stories From Kidnap Forests : Human Bones Littered Marshy Surrounding by treesun(op): 9:09am On Feb 18, 2024 |
APC turned everywhere to grave yards, we had only BokoHaram during PDP, but now every state is under sieges of kidnappers, killing with abaddon recklessness, Mynd44! 1 Like |
| Politics › Re: Stunning Stories From Kidnap Forests : Human Bones Littered Marshy Surrounding by treesun(op): 8:30am On Feb 18, 2024 |
"Two vehicles including our own ran into the trap set by the bandits. As our driver was trying to run past them, another set of bandits opened fire from the front. Luckily, it was the tyres of the bus that deflated. “The haggard-looking bandits ordered us to alight with our shoes off. We were 13 altogether. There was an old man who was visually impaired. Among us also was a woman. “They marched us into the thick bush. We trekked almost four kilometers into the forest. As we were going, we got to a cassava farm and the bandits uprooted some tubers of cassava. “As we were walking through the forest, darkness was everywhere and they didn’t use any flashlight. “They asked if there were any Amotekun officers trailing us. “They had seized our phones. We got to a place and it appeared the old man had no more strength to move on. They abandoned him and moved on. “The woman leading the man was not allowed to stay with him. After about two kilometers to the point they dropped the old man, we stopped. There was a small canopy that could shield only two people. As we stopped, the rain that had been threatening started falling. “Two of the bandits hid under the canopy while the remaining five stayed in the rain with us. The rain was heavy. All of us were shivering except the abductors. “We were there for eight days. They fed us with garri that was supplied by a man on a bike. We didn’t see him but we knew when we heard the sound of his motorcycle. They offered us raw cassava but we rejected it. “On the third day in captivity, they asked us to tell them the richest person in our families. They used the phone of one of us to make calls. They demanded N100 million. “The torture was indescribable. They beat us with the rods they used to control their cattle. All of them were Fulani but two could speak Yoruba a little. “It was around 1am on the eighth day that we heard them arguing. “We couldn’t hear what they were saying. Four of them left the place giving instructions to the remaining three. “Around 3am that day, I woke up only to find that the three kidnappers left with us had fallen fast asleep. “I just touched about four people who were close to me and we gently left the place after untying the piece of cloth on our ankles. “We were afraid of the other four who had gone earlier. So we didn’t follow the path they took. Not quite far from that place, we saw a mud house where an old man lived. He directed us to the main road”. In the case of one Tunde Ariwodola who was kidnapped around Ibarapa zone of the state, he was lucky to be rescued the following day. He and two other victims were rescued by local hunters after their abductors fled. “The three days we spent there, I didn’t taste the garri and water they brought. They were so dirty in their tattered clothes. They tied our hands and legs while beating us with their rods. “They were smoking weed and couldn’t speak Yoruba or English. As we begged them, they beat us the more. Thank God because help came our way on the third day. I will not pray that my enemies should go through the horror”. Waheed (surname withheld for security reason), another survivor, who was rescued in Komu area of Oke-Ogun by hunters, said he was now afraid to travel outside Saki where he resides. “I have been hearing about abduction, I didn’t know it was that terrible. I’m a farmer and was in my farm when three men surrounded me with machetes. One was carrying an AK 47 rifle. I tried to escape but they warned me they would shoot. “They tied my hands and led me into the forest. After trekking several kilometers, we stopped. The place was a hamlet with makeshifts. There were about three mud houses. “In one of the houses, there were chains tied to iron they pinned to the ground. In the single room, there were clothes, school uniforms, female pants and shoes scattered all over. “The suffering we passed through within two days we were there was much. There were bruises all over our bodies. We were given garri to eat all through. “After the first day, I was running stool. “I thank God that I was among the rescued victims when the hunters came. They arrested three of them and we were rescued.” ONDO: We’re fed with raw cassava, maize – Survivor In Ondo State, kidnappers operate mostly from the lfon/Ose forest in the Northern Senatorial District. Reports also show they operate from Ala- Dada, Jugbere, Ijagba forest in Akure North and Akunu forest in Akoko North-East. The state Commander of Amotekun, Chief Adetunji Adeleye, recently raised the alarm over the influx of kidnappers from borderstates of Ekiti, Kogi and Edo. Adeleye, who attributed the development to the heavy presence of security personnel in Ekiti, lamented the increase in the cases of kidnapping in Ondo. According to him, criminals usually flee to towns in Kogi and Edo after they have perpetrated crimes in Ondo. Survivors of kidnapping in Ondo also have the stunning stories to tell. Narrating his ordeal in the den of kidnappers, a 200-level student of the Federal School of Surveying, Oyo State, who was abducted in Akure but later released after ransom was paid by his parents, said he saw hell in the captivity. “l spent two weeks in the den of the bandits. We trekked a long distance and we’re fed with raw cassava and maize”, he told Sunday Vanguard. “Those who kidnapped us wore army uniform, we were traveling through Ondo State and we’re taken to Kwara State for two weeks “We were returning from Lagos. As we got to Akure, we ran into a checkpoint supposedly mounted by soldiers who turned out to be kidnappers. “They checked our vehicle and asked us to stay inside. After some minutes, they said we should follow them to the barracks. They also took other people in six vehicles. “A man that was coming to Akure with his new wife was also kidnapped. They diverted us to Ekiti and from there to Kwara. “We spent two weeks with them inside the forest. We paid ransom before we were released. “We stopped at Oyin in Ekiti State and trekked to Kabba in Kogi State. From Kabba, they put us in a car and took us to Kwara. We didn’t know where we were. We drank water from the stream and any available water. We ate raw cassava and maize. “They beat us and threatened to kill us. We were moved from one place to another inside the forest. I didn’t know the language they were speaking but their hair was different from ours. “They were dressed in full army uniform. They even had an army van parked by the roadside where we were kidnapped. “It was one of our brothers who brought cash (ransom). They refused to collect the money through bank transfer. They collected the ransom in Kwara. “It was one of them (abductors) that told us we were at Omu-Aran in Kwara after we were released. He gave us N1, 500 to board a vehicle back to our destination”. Our captors lived like kings – 23-yr-old student •Says they demanded energy drinks, wines, foods from captives’ families for their enjoyment A 23-year-old young lady, who was abducted by gunmen, on her part, described her experience as horrific. The victim, who was released after seven days with her abductors, said she was working in her sisters’ farm when four armed men invaded the farm at Ago-Oyinbo village in Akure North. She explained that the kidnappers immediately contacted her family demanding for ransom but said, after negotiation, they agreed on N350, 000 which was paid after spending seven days with her captors. “My mum and dad were in the town. I went to the village to help my sister’s on her farm so that when we resumed I will be able to get some money to take to school”, the survivor said. “On that fateful day, we were at the farm and suddenly we saw these three kidnappers coming towards our farm. “I was afraid but my sister told me that they were Fulani herders and they were coming to our side. I wanted to run but they warned me against the move that if I tried to run, they will shoot me. “They told us to kneel down and we knelt down, begging them. Two of them were with guns while the third person was carrying a cutlass. They ordered us to follow them and beat us with cassava stick until we get to the den. “We spent seven day with them, they asked for my dad’s number but we told them that we did not know it off-handed. “We later told them we did not have parents anymore; that they had died. “But they told us they knew everything about our family and I later gave them my number because I was not with my phone on that day. “They called my number and talked with one of my other sisters and informed her that I was in their custody and they negotiated ransom. “It was that sister who now went to the Amotekun office to report and they swung into action to rescue us” “Our captors lived inside the thick forest like kings. They ate good foods, drank choice wines. They had cooks and nurses that took care of their needs. When they asked families of their captors to bring Energy drinks, different brands of wine and other food items, it was for their enjoyment”. Abductors dragged us into the bush – Govt official A top government official ordeal in Ondo, who was abducted and freed, also told his story: “I was kidnapped on my way to Abuja alongside many other people and made to walk several miles in the bush on empty stomach. “My experience shows that in terms of security, our government needs to buckle up, government needs to work harder. “I discovered that some of my captives were graduates and because they had no means of livelihood, they resorted to do what they were doing and, by the time they become criminally minded in it, it will be difficult for anybody to pull them out. “The money they are making is huge; our government must provide shelter for our people, they must provide infrastructure, they must provide job. “We thought the armed men in military uniform were exchanging fire with the police but later discovered that they were armed robbers. “When they approached my vehicle, they asked for what I had and I gave them what was on me, very little money, and they left. “They said we should lie down and we obeyed and within a twinkle of an eye, some of them came back and said ‘where is Oga?’ “When they identified me, they dragged me into the bush. I tried to resist but they gave me a dirty slap, and my eyes turned blue and I had to follow them. “We walked till midnight when we stopped and rested. We started moving again around 4am, trekking for about another seven hours before they hid us inside a pit. |
| Politics › Stunning Stories From Kidnap Forests : Human Bones Littered Marshy Surrounding by treesun(op): 8:30am On Feb 18, 2024*. Modified: 9:06am On Feb 18, 2024 |
•ANAMBRA SURVIVOR: ‘Captives killed like chickens’ in hell on earth •EDO: Akoko-Edo, Sasaro forest, Ayetero, Ososo-Makeke Road, Okpe Road, Bekuma horrors •A-IBOM: Creeks as kidnappers’ den •IMO/ ABIA: Echoes of a Prelate’s kidnapping •DELTA: Kidnapped priests fed with raw cassava. •Abductors spread tentacles, take over cemetery, forests Kidnapping spree has continued across the country despite security agencies’ best efforts to contain the scourge. Victims are apparently taken deep inside forests where their captors negotiate ransom usually in millions of naira. In this report, survivors narrate their chilling experiences to Sunday Vanguard in kidnappers’ dens. It is a story of how kidnappers have spread their tentacles in many states including Bayelsa, Edo, Cross River, Delta, Anambra, Abia, Oyo, Osun, Ondo and Imo. BAYELSA: Kidnappers turn cemetery to den In predominantly riverine Bayelsa State located at the center of the Niger Delta, a kidnap victim, who shared her ordeal, said, “I was blindfolded and forced to lie on the floor of their speedboat after I was seized from my house. “For several hours, we traveled on the waters; I did not know how they managed to beat the numerous military checkpoints. But we got to their camp after a long trek from where we disembarked from the boat. “The forest is believed to be a cemetery as human bones could be seen around. From the vegetation and marshy surroundings, I knew we were in the thick of the mangrove. I was alone and praying for divine intervention for a quick rescue. “I was fed with garri, and sometimes, smoked fish and sachet water. My captors, especially the one detailed to guard the dinghy where I was confined, armed with AK-47s, and seemingly the youngest among them, were humane. “Others were agitated and threatened that my family had been stubborn, and did not agree to their ransom demand. But thank God I survived and I am alive. It was a traumatic experience I do not wish for anybody”. I was almost dead – Commissioner Otokito The state Commissioner for Industry, Trade and Investment, Federal Otokito, was once a victim as they abducted him for allegedly opposing suspected crude oil thieves, who wanted to set up an illegal refinery in his (Otuokpoti) community forest. The Commissioner, who had injuries on his body with swollen black eyes, and bandages on his back and right arm, said: “If not for your prompt intervention, the pressure the government put on them (kidnappers), I could have been a dead man. “I am very grateful to you, the governor, deputy governor, security agents, and whoever joined hands to bring me back to life. “I was almost a dead man. I thought I would never even come back to see my children.” Water-logged grave In the case of Mike Ogiasa, a cousin of former President Goodluck Jonathan, who was abducted sometime in 2022, his abductors sent out a heartwrenching video of him with his head covered with a dirty nylon, and hands tied in a water-logged six- feet grave, pleading with his family to pay ransom for his freedom. The strategy was to railroad the family into paying the ransom. The video also captured the traumatic experience of the victim in captivity. Some others were not that lucky to be released after ransom had been paid as they died in the hands of the kidnappers before help could come their way ostensibly because of shock, ill health, and sometimes the harsh environment where they were exposed to the vagaries of the elements. DELTA: Kidnapped priests fed with raw cassava Reverend Father Emmanuel Obadjere of the Catholic Diocese of Warri, Delta State, kidnapped with three others along the dreaded Urhonigbe Road on their way to Agbor, Ika South Local Government Area, Delta State, in November 2018, said the den his abductors took them was spinechilling. Narrating his experience, he said: “They were 10 in number, armed with guns. About 10 minutes later, the police came close to where we were in the forest and started shooting. They did not see us, so could not rescue us. “We slept the first night in a cassava farm. At night, they walked us through the railway. We went through the forest under the sun, and the rain with no water and food. “They demanded money and said that they would kill us if we did not bring it. We told them we did not have money, and that we were doing the work of God. This angered them more. We were all in our cassock so there was no doubt about our identity. “They were very brutal, violent. They beat us. They said they would kill us if we did not bring money. Related News Expectations amid hardship: No grains yet, our warehouses empty, states lament AYO ORITSEJAFOR: An epitome of leadership Yahaya Bello: As game ends, tasks before Ododo “Their age bracket was between 20 and 30. They were Fulani, speaking Fufude. I understand Hausa, so I knew it was Fufude they were speaking. “They walked us the four nights till we got to Abavo community. They usually stood at a distance when we prayed. Four of us would hold our hands to pray. Each time we did that, they got angry. Sometimes, they would brutalize us to stop us from praying. “Then, God did his miracle and we were released. The whole process of our release started when one of us fainted. They were worried; they threatened that if anyone died among us, they would kill the other three. “They were bitter that no money came from anywhere despite all the calls they made with our phones to numbers they saw on the phones. “The one who fainted was almost dying; they uprooted cassava and gave him to eat because the four days we were with the kidnappers, we ate nothing. “When they saw that the priest was almost dying, in panic, they released us. They said since money was not coming, they could not keep us beyond Friday. One of us was already dying. They released us at about 7.00 pm that Friday, making it four days we were with the kidnappers”. CROSS RIVER: ‘Twice kidnapped, it was by God’s grace I wasn’t raped’ Kidnappers’ dens in Cross River State, according to a top security agent, who pleaded anonymity, are majorly in the creeks. He claimed to have participated in rescuing kidnap victims, saying a lot happens in the camps situated in creeks in Cross River especially in Bakassi, Akpabuyo, Calabar South and Odukpani LGAs. The major challenge for security operatives, he told Sunday Vanguard, is that many of the kidnappers’ dens are located inside swamps and hard to reach areas, thus making it almost impossible for operatives to carry out rescue operations except kidnappers are smoked out or negotiated with to secure the release of victims without harm. A victim who claimed to have been kidnapped twice in Cross River said he stayed in the camp for 34 days. He said his harrowing experience is something he won’t wish for his worst enemy. “They demanded N100 million immediately after I was brought to the camp which was right inside the creek and they were always moving me”, the survivor narrated. “There were days I couldn’t eat, there were days I fell ill, they didn’t care about your well being; they were only after ransom. “They usually had a 1-2 camp gas cylinder to make meals and make shift huts; mosquito bites were unbearable. “They had supplies of drugs and a ‘medical assistant’ who treated victims when they noticed they were sick. “They had informants in very unusual places who looked out for security operatives during my stay with them and they usually moved from creek to creek. “If your people were not negotiating well, they will torture you very well. “My experience was harrowing because I was twice kidnapped. The first time I paid ransom and the second time I got lucky as I escaped on a Sunday by divine intervention. “I stayed with those animals for more than two months on the two occasions they abducted me”. Another victim, who was also kidnapped twice in Calabar municipality, said it was worse for a woman to be in such a situation as it takes God’s grace for you not to me sexually molested. According to her, those 72hours were the worst time of her life as she sustained different injuries from her abductors, tied up hands and legs as well as blindfolded. “I was kept in a house from where I could hear voices from afar which means the house was very close to residential area”, she narrated. “I didn’t have food to eat but I will never want anyone talk more of a lady to be in such a situation. “I thank God I came out alive after my husband parted with a huge amount of money to secure my release; they dumped me somewhere around Calabar South. “At the time they captured me , I was a lone victim; no one else was in the place with me and they were always listening to the news to hear if my name was mentioned. “Of course they knew who I was from there and insisted my people must pay for my release. “When they realised that the pressure was becoming too much, they had to collect what my people raised because they had demanded N20 million earlier. A security operative in Cross River told Sunday Vanguard that kidnappers in the state have different categories of members who play different roles, from surveillance team to pickers who carry out abduction operation, cooks, people who supply food or medical consumables, transloaders who collect the victims from town to creeks and more. “But many of them are not professionals hence they make mistakes in the course of their operations by using (bank) accounts to collect ransom if they can’t get the huge money they demand in cash. There are many layers to the illicit business,” he said. OYO, OGUN, LAGOS KIDNAP SPOTS: ‘Indescribable torture’ on Lagos-Ibadan Expressway, Ijebu-Ode- Ibadan Road, Iseyin and Saki in Oke Ogun Kidnap survivors in Oyo say there are forests in Iseyin-Saki axis, Ijebu- Ode-Ibadan Road and Lagos-Ibadan Expressway which kidnappers use as cover. Some of the forests are located in Iwere-Ile, Iseyin, Komu (all in Oke- Ogun), Ijebu-Ode-Ibadan Road and Lagos Ibadan Expressway. According to a victim, Olaoluwa Opeyemi, who claimed to have been kidnapped along Ijebu-Ode-Ibadan Road, kidnapping happens frequently on this road. Narrating his ordeal, he said he boarded a Toyota Sienna space bus from Ijebu going to Ibadan. “It was some minutes past 5pm when they got to a point. The kidnappers were in three places laying ambush. Suddenly, we heard sporadic gunshots. https://www.vanguardngr.com/2024/02/stunning-stories-from-kidnap-forests-1-human-bones-littered-marshy-surrounding/ |
| Politics › How Much Is 1kg Of Cooking Gas In Your Area? by treesun(op): 8:08am On Feb 17, 2024 |
How much is 1kg of cooking gas in your area? |
| Politics › FG Seals Off Sahad Store, Abuja As Crackdown On Hoarding, Price Fixing Begins by treesun(op): 11:33am On Feb 16, 2024 |
Twenty-four hours after President Bola Tinubu unveiled plans to tackle factors responsible for food crisis, the Federal Competition and Consumer Protection Commission (FCCPC), sealed Sahad Store, a popular supermarket in the Garki area of Abuja.https://dailytrust.com/breaking-fg-seals-off-top-abuja-store-as-crackdown-on-hoarding-price-fixing-begins/ 21 Likes 4 Shares
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| Politics › Forex Crisis Pushes Petrol Subsidy To N907.5b Monthly by treesun(op): 8:07am On Feb 15, 2024 |
• Actual pump price hits N1,202.7/litrehttps://guardian.ng/news/forex-crisis-pushes-petrol-subsidy-to-n907-5b-monthly/ 1 Like 1 Share
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| Crime › Re: Court Remands Ondo Tailor For Stealing Pot Of Soup by treesun: 7:35am On Feb 15, 2024 |
UDOKABESTLUV:If our judge, I will give her money to cook soup after freeing her, there hunger induced by APC! 3 Likes |
| Politics › Re: Hundreds Of Youths Protest Against Police Brutality In Delta State (Photos) by treesun(op): 6:32am On Feb 15, 2024 |
Police are[ criminal! |
| Politics › HARDSHIP: We Can’t Pacify The People Anymore – Northern Traditional Rulers by treesun(op): 10:49pm On Feb 14, 2024 |
Monarchs from the North under the umbrella of Northern Traditional Council led by the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar have told the Federal Government that unless the necessary action is taken, insecurity, poverty and unemployment in Nigeria and North in particular, have made Nigeria sit on a keg of gunpowder, ready to explode. The Sultan spoke on Wednesday at the Arewa House, Kaduna during the 6th executive Northern Traditional Council committee meeting, where he told the Federal Government that the traditional rulers, religious leaders as well as State governors have been pacifying the masses and the jobless youth from revolting against political leaders at the helm of affairs. “It is getting to a level that traditional leaders could no longer pacify the people from revolting against government and political leaders that supposed to find solutions to their lingering socio-economic plight,” he said. “And let’s not take it for granted; people are quiet, they are quiet for a reason, because people have been talking to them.; we have been talking to them, we have been trying to tell them things will be be okay and they keep on believing. I pray to Almighty Allah that they will not one day wake up and say we no longer believe in you. Because that would be the biggest problem, because we can’t quieten these people as traditional, spiritual leaders and diplomats forever.” “We have reached that level, people are very agitated, people are hungry, they are angry, but they still believe there are people who can talk to them, they believe in some of their Governors, some other traditional rulers and some of their religious leaders, fortunately some of us double as traditional and religious leaders.” “So, we have this onerous task of reaching out to everybody, calm them down and assure them things would be okay, and they should continue to pray and pray and still do something good, because prayer without work will not bring anything.” “To make matters worse, we are faced with rising level of poverty of most of our people; lack normal sources of livelihood by the common man to have even a good meal a day.” “But, I believe talking about insecurity and the rising level of poverty are two issues that we cannot fold our arms and think everything is okay. I have said it so many times and at so many fora that, things are not okay in Nigeria and of course, things are not okay in the North.” “What are the real issues bringing about poverty and rising cases of insecurity? I don’t think it is the issue of new government. To me, this government is a continuation of the former government; it is the same party. So, what really is the problem? I think that is one of the reasons we are here to talk to ourselves.” “We owe it a duty to the teeming millions of people that believe in the traditional institution, to bring solution to the various problems facing them. We will not fail in doing that. We will do our best.” “We must find jobs for our teeming youth that are sitting idle and I have said it so many times, we are sitting on a keg of gunpowder, having teeming youths, millions of them, without jobs, without food, we are looking for trouble.” “But, we thank Allah we believe in ourselves, we believe in Almighty Allah to bring succour to all our problems and we will keep on praying and urging our political leaders, who we believe will do something better.” “We are only advisers to the political leaders, that is all we can do, but if we are empowered and as strong as the Governors by the constitution, by the amount of funds they get from the Federal and states revenues, we can also do a lot.” “However, we are ready to work with the Governors, because we believe in them, we believe in what they are doing and must work with them. And if the Governors too want to have peace and stability in their states, they must work with the traditional leaders.” “We are gathered here again for the sole purpose of looking at the issue troubling our dear Northern States. We also invited the security chiefs, the IGP, Chief of Defence Staff, DG SSS to be with us and interact with us because of our concern for the rising insecurity in the North in particular.” “We have had such meetings before with the Northern Governors, so many times at Kashim Ibrahim House. We have entered into a new cycle of leadership, some new Governors have come on board, while some are having their second term and still we are faced with these insecurity issues.” “I have said so many times, that we never lack solution to our problems, what we lack is implementation, because we meet today, we bring out so many beautiful ideas on how to solve our problems, we go back to our various places and go to bed, leaving such solutions here in this conference hall. So, how do we implement them?” “This is why we invited the leadership of Coalition of Northern Groups (CNG) to come and interact with us on the outcome of similar meeting they organized in Abuja. We invited the Arewa Consultative Forum (ACF) to be part of us and talk to us too, because as elders, some of whom have been in politics, who have done a lot for the North and the country. At the end of the meeting, we believe we will come up with various suggestions on how to resolve our numerous problems in the North.” “Education is important, so whatever issue you want to bring to us here, you must talk about education, you must talk about health issue and of the two monsters that have been harassing all of us here, that is insecurity and poverty.” “So, I think it’s good we talk about these things and let us be very honest with ourselves, let us be very frank about what we are going to tell ourselves here; it is no time to hide things.” “I believe at the end of this meeting, we should have very good suggestions to our political leaders, to our security chiefs, that when such is implemented, we will have a better North and at the same time have a better Nigeria,” the Sultan said. https://www.vanguardngr.com/2024/02/hardship-we-cant-pacify-the-people-anymore-northern-traditional-rulers-tell-fg/ 1 Like |
| Politics › Re: Hundreds Of Youths Protest Against Police Brutality In Delta State (Photos) by treesun(op): 10:46pm On Feb 14, 2024 |
Nlfpmod, EndSARS 2.0 loading! 2 Likes |
| Politics › Hundreds Of Youths Protest Against Police Brutality In Delta State (Photos) by treesun(op): 1:44pm On Feb 14, 2024 |
Hundreds of Nigerians are currently protesting in Ughelli, Delta State, against unchecked police brutality and extortion from Nigerian youths.https://saharareporters.com/2024/02/14/breaking-heavy-protests-delta-state-hundreds-nigerian-youths-march-against-police 3 Likes
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| Politics › Re: Bayo Onanuga: Nigeria’s Wealth Overestimated, Country Very Poor by treesun(op): 10:24pm On Feb 12, 2024 |
Nlfpmod, are we rich! |
| Politics › Bayo Onanuga: Nigeria’s Wealth Overestimated, Country Very Poor by treesun(op): 9:07pm On Feb 12, 2024 |
The Presidency on Monday described Nigeria as a “very very poor” country, given its low per capita income, compared to other African nations.https://punchng.com/nigerias-wealth-overestimated-country-very-poor-presidential-aide/ 11 Likes 3 Shares
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| Politics › Re: Governors, Intervene In Cost Of Living Crisis - Daily Trust by treesun(op): 7:22pm On Feb 12, 2024 |
Everyone is now hungry, Nlfpmod! |
| Christianity Etc › Nigeria Needs Urgent Spiritual Help – Adeboye by treesun(op): 9:05pm On Feb 11, 2024 |
General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, says Nigeria’s problems require spiritual solution.https://dailytrust.com/nigeria-needs-urgent-spiritual-help-adeboye 7 Likes 7 Shares
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| Politics › Governors, Intervene In Cost Of Living Crisis - Daily Trust by treesun(op): 9:33am On Feb 11, 2024 |
Food is a basic requirement for human existence. Any threat to its availability or affordability is, therefore, a threat to human existence. When people experience either of these two threats, the first casualty is naturally the peace that is subsisting among the people. It, therefore, did not come as a surprise when women in Kpakungu area of Minna, Niger State, blocked the Minna-Bida road to peacefully protest the high cost of living; the same reason spontaneously prompted their men who accused government of turning deaf years to their plight to join the non-violent protest. Another peaceful protest of a small group of people reportedly took place in Kano the same day Monday, February 5, 2024, also, for the same reason. But probably dissatisfied with the impact of their Monday outing, a larger group of Kano residents trooped out again on Thursday, February 8, 2024, around Kurna, Rijiyar Lemo, and Bachirawa areas along Katsina road in Fagge and Ungogo local government areas of Kano State, to bemoan the worsening economic situation in the country. One of them who spoke to newsmen said they staged the protest because they had been pushed to the wall. Before the second protest in Kano, a second one metamorphosed in Suleja in Niger State, two days after the first one in Minna; also, to decry the record-rising inflation on food items and essential commodities. Powered By Video Player is loading. PauseUnmute Fullscreen Since then, the protest over the high cost of living has continued to spread passively. On Friday, February 9, 2024 for instance, youths in their numbers carried placards and stormed the MDS Street in Osobgo, Osun State, to lament the unceasing hardship, poverty, and insecurity of lives bedeviling residents of the state. In Yobe State, residents of Potiskum, under the auspices of the United Marketers Association Potiskum (UMAPO) on Friday, February 9, 2024 offered special prayers to seek divine relief over the soaring cost of living plaguing the country. In a press statement signed and released on February 8, 2024 by the Secretary-General of the Jama’atu Nasril Islam (JNI), Dr Khalid Abubakar Aliyu, JNI lamented the spate of poverty amidst inflation regime; calling on the federal and state governments to urgently intervene before the situation worsens. On the other hand, the Catholic Bishops of Ibadan Ecclesiastical Province decried the precarious socio-economic situation in the country and called for immediate interventions to lessen the sufferings of Nigerians. How Nigeria’s economy nosedived in 10 years The hunger protests Speaking before the Senate Committee on Banking and Finance to explain the current inflation crisis, the Minister of Agriculture and Food Security, Senator Abubakar Kyari, identified smuggling of food by Nigerians to neighbouring countries as one of the factors affecting food supply. The minister added that devaluation of the naira, which had made food in Nigeria the cheapest across the West African sub-region, accounts for the huge smuggling of grains. This explanation is not tenable because government, not citizens, is in charge of the borders and has a mandate to check activities of smugglers. The repeated hope-raising assertions by government that citizens would soon forget the pains of the current hardship is not helping to comfort hungry and angry Nigerians who are now running out of patience. The recent threat by organised Labour (the Nigeria Labour Congress-NLC and the Trade Union Congress-TUC) to embark on strike at the expiration of a 14-day ultimatum cannot be isolated from lip-service paid by government to the welfare of Nigerians. Had it been its promises to Labour were fulfilled, the economic situation in the country would not have worsened to the current level. Sadly, while all Nigerians are looking towards the federal government for solution, the state governors appear to have isolated themselves from it all. This inaction by state governments further complicates Nigeria’s economic crisis. By now, we expected that governors would have rolled out measures at addressing the situation while waiting for the federal government to act. All state governors must begin to look inwards and seek solution to the problem. At the moment states are receiving more allocation than before, and so, there is no reason why there should be no changes in the living conditions of their people. Nigerians were living witnesses of how the billions earlier released to states in lieu of palliatives failed to make any concrete impact on the life of citizens. With a boost in the revenue that accrue to states from the Federation Account, workers and pensioners are still being owed entitlements, in addition to the non-implementation of the national minimum wage by many states. All these reasonably explain why nothing significant has changed in the life of citizens across the 36 states of the federation. Although, the federal government ordered the immediate release of 102 metric tonnes of grains, which experts say is a drop in the ocean, no state has through its ministry of agriculture, taken practical measures to impact positively on their respective food supply chain. They lack measures to check the alleged smuggling of grains and the activities of middlemen who mop up cereals from markets after harvest. With the large span of arable lands across states, it is unfortunate that none appears to conspicuously have strategic agricultural initiatives planned to meet the economic interests, as well as the survival needs of its own people. Perhaps, due to over-reliance on the federal government, states have not only failed to explore and develop the natural resources in their domains, but abysmally failed to bring development closer to their people. If they did, such efforts would have tamed the present endemic rate of poverty and unemployment in the country. It is difficult to say what value agencies of the federal government replicated in the states have added to national programmes designed to reduce poverty and unemployment. State governors must rise to the occasion by reducing cost of governance with a view to pragmatically supporting and promoting the development of the country’s agricultural potentials. The future of developing countries lies in their resolve to become suppliers of skills and commodities, not consumers. While these protests must not be taken for granted, the federal and state governments must act quickly, individually and collectively, fashion out practical measures that will take Nigerians out of the despair. Specifically, we call on state governors to do their part. The time to act is now. https://dailytrust.com/governors-intervene-in-cost-of-living-crisis/ |
| Politics › Re: Suspected Terrorists Kill Six Farmers, Kidnap 20 Women In Niger State Community by treesun(op): 6:08pm On Feb 10, 2024 |
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| Politics › Leaked SGF ₦1bn Memo: Tinubu Presidency Is A Cesspit Of Corruption - PDP by treesun(op): 6:52pm On Feb 09, 2024 |
February 9, 2024Official PDP Nigeria 29 Likes 7 Shares
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| Business › Re: Banks Dollar Sale Falls As Naira Weakens To 1,479/Dollar by treesun(op): 9:37am On Feb 09, 2024 |
Nlfpmod! |
| Business › Re: Banks Dollar Sale Falls As Naira Weakens To 1,479/Dollar by treesun(op): 9:18am On Feb 09, 2024*. Modified: 10:22am On Feb 09, 2024 |
iwaeda:Tried to pay for online course, I couldnt again! 2 Likes |
| Business › Banks Dollar Sale Falls As Naira Weakens To 1,479/Dollar by treesun(op): 8:00am On Feb 09, 2024 |
The total value of transactions recorded at the official Nigerian Autonomous Foreign Exchange Market fell from $465.29m on Tuesday and $203.93m on Wednesday, data obtained from FMDQ Exchange showed on Thursday.https://punchng.com/banks-dollar-sale-falls-as-naira-weakens-to-1479-dollar/ 1 Share
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| Politics › Re: Suspected Terrorists Kill Six Farmers, Kidnap 20 Women In Niger State Community by treesun(op): 11:12pm On Feb 07, 2024 |
It is well! |
| Politics › Suspected Terrorists Kill Six Farmers, Kidnap 20 Women In Niger State Community by treesun(op): 9:32am On Feb 07, 2024 |
Suspected terrorists have killed at least six farmers and kidnapped 20 women at the Maganda Junction on Allawa-Pandogari Road in the Shiroro Local Government Area of Niger State. A resident, Salihu Adamu, who confirmed this, said the deceased were four men and two women. He stated that the six farmers were returning to Allawa town in Shiroro LGA from Pandogari town in Rafi LGA when bandits opened fire on their cars. “The bandits planted land mines on the road. And on sighting a convoy of vehicles heading to Allawa from Pandogari, they (bandits) opened fire on the vehicles, killing six people, comprising four men and two women. Three people sustained injuries and two trucks loaded with foodstuffs were burnt down,” Adamu was quoted by Daily Trust. Meanwhile, the Niger State Governor, Mohammed Bago, on Monday in Minna, while reacting to a protest over hardship, had said, “On the issue of insecurity, I can rightly say that we have noticed a significant increase in security level in Niger State. Our farmers have gone back to their farms.” The governor also banned mass purchase of foods in the state's local markets by traders from other states in the country. https://saharareporters.com/2024/02/07/suspected-terrorists-kill-six-farmers-kidnap-20-women-niger-state-community |
| Politics › FG Laments High Cost Of Food by treesun(op): 4:25pm On Feb 06, 2024 |
The Federal Government has expressed concern over the continuous rise in the prices of food and other commodities, prompting protests in Niger and Kano.https://punchng.com/fg-laments-high-cost-of-food/ 4 Likes
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| Politics › Re: Nigeria Fails To Meet Oil Production Targets In 10yrs by treesun(op): 8:57pm On Feb 05, 2024 |
! |
| Politics › Re: Nigeria Fails To Meet Oil Production Targets In 10yrs by treesun(op): 12:26pm On Feb 05, 2024 |
Major reason dollar rate is high, not too much cash flow! |
| Politics › Re: Hardship: Presidency Attacks Atiku Again Over Criticism Of Economy by treesun(op): 12:24pm On Feb 05, 2024 |
Melagros:Childish and irresponsible! |
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