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Economist Tasks CBN On Inflation Rate

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8 years ago

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An economist, Dr Uju Ogubunka, has appealed to the Central Bank of Nigeria (CBN) to sustain the steady fall in inflation rate particularly in the months preceding the 2019 General Elections.
Ogubunka, a former Executive Secretary, Chartered Institute of Bankers of Nigeria (CIBN), made the appeal in an interview with The Tide source in Lagos, yesterday.
According to the economist, the apex bank should ensure that influx of huge sums of money, which normally precedes an election year, does not reverse the inflation rate.
“We expect that the inflation rate, which has been on a steady decline for the last 13 months, will not begin to rise again due to electioneering spending.
“I hope the apex bank will use its monetary policy more to sustain the gains it has made,” he said.
He lauded the Federal Government for interventions in the Investment and Export windows, and urged it to continue with the trend to give manufacturers more access to foreign exchange.
Ogubunka said that the government should urgently ensure security in the Benue and other states to guarantee continuous fall in food prices.
“Government should try to ensure peace by resolving the crisis between farmers and pastoralists in the Middle Belt and North-East because they are the food baskets of this country.
“The country needs peace to attain food security and to be a net exporter of agricultural produce in no distant future.
“More tax rebate should be in place for investors interested in agro-processing business, and they should be able to obtain loan on a single-digit interest rate,’’ he said.
The economist added that there should be a centre where fabricated machines for agriculture would be made.
“These and few others are what the investor needs to excel in business and contribute his quota to the growth of the economy,” he said.
Our source reports that the Nigeria’s annual inflation rate fell for the 13th consecutive time in February, according to the National Bureau of Statistics (NBS).
An NBS report showed that the core inflation fell to 14.33 per cent from 15.3 per cent in January while the food price index indicated inflation of 17.59 per cent in February as against 18.92 per cent in January.

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Kenyan Runners Dominate Berlin Marathons

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5 days ago

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September 22, 2025

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Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.

Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.

The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.

Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.

“I did my best and I am happy for this performance,” said Sawe.

“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”

Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.

In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.

Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.

Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.

 

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NIS Ends Decentralised Passport Production After 62 Years

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5 days ago

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September 22, 2025

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The Nigeria Immigration Service (NIS) has officially ended passport production at multiple centres, transitioning to a single, centralised system for the first time in 62 years.
Minister of Interior, Dr Olubunmi Tunji-Ojo, made the disclosure during an inspection of the Nigeria’s new Centralised Passport Personalisation Centre at the NIS Headquarters in Abuja, last Thursday.
He stated that since the establishment of NIS in 1963, Nigeria had never operated a central passport production centre, until now, marking a major reform milestone.
“The project is 100 per cent ready. Nigeria can now be more productive and efficient in delivering passport services,” Tunji-Ojo said.
He explained that old machines could only produce 250 to 300 passports daily, but the new system had a capacity of 4,500 to 5,000 passports every day.
“With this, NIS can now meet daily demands within just four to five hours of operation,” he added, describing it as a game-changer for passport processing in Nigeria.
“We promised two-week delivery, and we’re now pushing for one week.
“Automation and optimisation are crucial for keeping this promise to Nigerians,” the minister said.
He noted that centralisation, in line with global standards, would improve uniformity and enhance the overall integrity of Nigerian travel documents worldwide.
Tunji-Ojo described the development as a step toward bringing services closer to Nigerians while driving a culture of efficiency and total passport system reform.
According to him, the centralised production system aligns with President Bola Tinubu’s reform agenda, boosting NIS capacity and changing the narrative for improved service delivery.
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FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year 

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5 days ago

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September 22, 2025

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The National Information Technology Development Agency (NITDA) has announced plans to roll out Digital Public Infrastructure (DPI) and the Nigerian Data Exchange (NGDX) platforms across key sectors of the economy, starting in early 2026.
Director of E-Government and Digital Economy at NITDA, Dr. Salisu Kaka, made the disclosure in Abuja during a stakeholder review session of the DPI and NGDX drafts at the Digital Public Infrastructure Live Event.
The forum, themed “Advancing Nigeria’s Digital Public Infrastructure through Standards, Data Exchange and e-Government Transformation,” brought together regulators, state governments, and private sector stakeholders to harmonise inputs for building inclusive, secure, and interoperable systems for governance and service delivery.
According to Kaka, Nigeria already has several foundational elements in place, including national identity systems and digital payment platforms.
What remains is the establishment of the data exchange framework, which he said would be finalised by the end of 2025.
“Before the end of this year and by next year we will be fully ready with the foundational element, and we start dropping the use cases across sectors,” Kaka explained.
He stressed that the federal government recognises the autonomy of states urging them to align with national standards.
“If the states can model and reflect what happens at the national level, then we can have a 360-degree view of the whole data exchange across the country and drive all-of-government processes,” he added.
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