Business
Inflation: Expert Tasks CBN On Appropriate Monetary Policy
Sequel to recent increase in inflation figure published by the National Bureau of Statistics (NBS), a financial expert, Mr Emmanuel Atama, has appealed to the Central Bank of Nigeria (CBN) to use appropriate monetary policy tool to check rising inflation rate in the country.
He said that it was only through such decisive monetary control instrument that the rising inflation rate in the country could be controlled.
Atama,who is the Executive Secretary of the National Cooperative Financing Agency of Nigeria (CFAN) in an interaction with airport correspondents, recently, posited that all hands must be on deck to reverse the trend in the interest of citizens and the economy of the country.
“I am more concerned about the purchasing power of ordinary Nigerians who could only do little with their meagre resources in the event of the hike in inflation, as their resources will do little for them and their household.
“It will now amount to counter productive efforts, no matter the things put in place; as conditions of living may tighten.
“It is time to use appropriate monetary policy tool to bring the situation to check, for the sake of the ordinary Nigerians and the economy, and the Central Bank should lead in this direction”, he said.
The National Bureau of Statistics had on February 18, this year released a report, stating that the country’s inflation rate rose from 11.98 percent as at December 2019 to 12.3 percent in January 2020.
According to the report, consumer price index that measured inflation increase by 12.3 percent which was 0.15 percent higher than the rate recorded in December last year, also showed that the current rate as compared to others in the last 21 months, is the highest so far.
Corlins Walter
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
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