News
High Cost Of Food Living: Solution Is In Sight, CBN, Ministers Assure
The Minister of Finance, Mr Wale Edun, and the Minister of Budget and National Planning, Atiku Bagudu, have assured Nigerians that the high cost of living being witnessed by Nigerians is currently being addressed.
The Governor of the Central Bank of Nigeria, Olayemi Cardoso, Chairman, Federal Inland Revenue Service, Zacch Adedeji, joined the ministers to allay the fear of Nigerians about the current inflation.
They all spoke when they appeared at the sectoral debate organised by the House of Representatives for the finance sector and stakeholders on the current cost of living at a Plenary in Abuja, yesterday..
Speaking, Edun, who is also the coordinating minister of the economy, said “Where we are as a nation is a much better place than we were in on May 29, 2023.”
He added that Nigeria as a country was on the road to economic disaster by way of subsidy on fuel, adding that it was expected that there would be challenges as a result of subsidy removal.
Edun said that inflation had increased and the cost of living had spiked, but stated that President Bola Tinubu was committed to protecting the poorest and the vulnerable.
“As things improve, there will be further intervention on behalf of the vulnerable to assist in the cost of living.
“Let us be confident, calm, and assured that Nigeria will change in terms of economic management and that there will be intervention in every sector.”
According to him, there is a need to tackle inflation because full inflation accounts for 33 percent of the consumer price index.
He said there was a need to return to production, adding that industry, however, required energy to function optimally and that President Nola Tinubu was also committed to using state power to subdue vested interest in the oil sector.
On his part, Bagudu said the president was committed to national development, adding that the President reckoned with the challenges of the living conditions of the people.
“What is happening in our country is obvious to someone visiting a construction site; we are very clear that we are on the right path and the challenges of the moment are being tackled.
“We are getting support from international partners, and they are all acknowledging the commendable steps that the president is taking.
“We have seen investments in the rail sector, the NNLG, and we assure you that we will overcome the challenges of the moment and sustain the economic growth as promised by the President,” he said.
In a related development, Cardoso expressed confidence that positive outcomes from the administration of Tinubu were already emerging and would further emerge in the near future.
“The concern as per the cost of living is genuine, and the urgency of the matter is not lost on us at the CBN, and we are working tirelessly to bring up a lasting solution”, he assured.
He said inflation was expected to decline in 2024, adding that this would be aided by improved agricultural productivity.
He said that the challenges of the exchange rate had been tackled, adding that they were fueled by speculation, increased forex demand, increased capital outflow, excess liquidity, and increased demand, among others.
He noted that the CBN was addressing the forex demand by clearing forex operations and adjusting the remuneration standard deposit, among others.
Speaking, the FIRS boss, Mr Adedeji, said the service was not a revenue-generating agency but a revenue-collection agency, adding that the agency was doing a lot to increase the nation’s revenue base.
According to him, the target for 2023 revenue was N10 trillion, and we achieved N12.3 trillion because of the decision taken by the president.
Adedeji said the president took the decision to rectify the distortion in the economic parameters and remove the fuel subsidy.
According to him, we have overperformance from VAT collection and company income tax. We have the target of collecting N19.2 trillion in 2024.
The chairman added that the N19.2 trillion target was based on the fact that it would not collect new taxes but bring more people into the tax rate.
He said less than 60 companies, as of today, contribute less than 60 percent to the nation’s company income tax.
Meanwhile, the Deputy Speaker, Benjamin Kalu, said it was imperative to recognize the urgency and importance of the agenda before it.
He said, “We must also confront the stark realities of the economic, fiscal, and revenue challenges that our beloved nation, Nigeria, is currently facing.
“In the face of global economic shifts and domestic challenges, it is clear that robust reform measures are not just beneficial but imperative.
“We are at a pivotal moment where the decisions we make and the policies we implement will impact the lives of millions of Nigerians”
He said the reform should not only address immediate needs but also lay a resilient and dynamic framework that would adapt to future challenges and opportunities.
According to him, these measures should stimulate growth, foster innovation, and uplift the lives of every Nigerian.
News
Fubara Tasks Nigeria’s Surveyor-General On C of O …Says Surveyors’ Role Pivotal In Governance
Rivers State Governor, Sir Siminialayi Fubara, has expressed concern over certain unprofessional practices within the surveying profession, urging practitioners to address issues surrounding the acquisition of Rights of Way and seismic operations in the State.
The governor also raised strong objections to what he described as threats to land ownership and title in the State through the alleged issuance of Federal Certificates of Occupancy by the Office of the Surveyor-General of the Federation and other affiliated federal agencies.
According to him, such actions are contrary to Section 1 of the Land Use Act, Cap L5, Laws of the Federation of Nigeria 2004, which vests all land within a state in the Governor as trustee on behalf of the people.
Fubara made the remarks while speaking as Special Guest at the National Conference of the Association of Private Practicing Surveyors of Nigeria (APPSN), a sub-group of the National Institute of Surveyors (NIS), held at the Obi-Wali Cultural Centre, Port-Harcourt, yesterday.
Represented by the Secretary to the State Government, Dr Benibo Anabraba, the governor also expressed concern over the problem of land grabbing through illegal survey plans and the payment of inadequate compensation to landowners during compulsory land acquisition for oil and gas exploration by licence holders, urging surveyors to uphold professionalism and fairness in their practice.
He said such illegal activities negatively affect the development of the State.
Fubara urged surveyors to promote ethical and sustainable planning practices that protect the environment, including the preservation of green spaces, marine areas, and forest reserves.
He described the role of surveyors as pivotal to the growth, development, peace, and orderly governance of any society.
According to him, the services of surveyors are critical to physical and urban planning, housing development, land administration, and the provision of infrastructure.
He stressed that surveyors play indispensable roles in land use and management, infrastructure provision, environmental management, and conflict resolution, noting that their presence in government ministries, departments, and agencies ensures adherence to best practices.
“The role of surveyors in governance is pivotal to the growth, development, peace, and order of society, particularly in land administration, infrastructure development, environmental management, and conflict resolution,” the governor said.
He noted that the conference theme, “Mapping the Future: The Vital Roles of Surveyors in the Nigerian Oil and Gas Industry,” was particularly significant to Rivers State, given its position as the hydrocarbon heartbeat of the nation.
The President of the Nigerian Institution of Surveyors (NIS), Surv. Pius Eze, urged all participants to optimize the opportunity provided by the conference for professional upgrading and networking, adding that the conference displays consistency of vision and dedication to the welfare of private practitioners.
The National Chairman of APPSN, Surv. Simepiriye Kalio, thanked leaders and members of the association for their sacrifices to achieving the successes recorded.
The Chairman of APPSN, Rivers State chapter, Surv. Andy Nwikinane, said that the association was working with relevant stakeholders to prevent the infiltration of quacks in the profession.
News
African Leaders Should Be Under 50 -Jonathan
Former President Goodluck Jonathan has called for a generational shift in African leadership, urging countries across the continent to deliberately promote younger leaders between the ages of 25 and 50.
According to him, younger leaders are more physically and mentally equipped for the rigours of modern governance.
Jonathan made the call in Abuja, yesterday, at the International Memorial Lecture and Leadership Conference marking the 50th anniversary of the assassination of former Head of State, General Murtala Ramat Muhammed.
Reflecting on the demands of leadership, the former president recalled that while in office, he sometimes had no more than two hours of sleep in 24 hours, stressing that advanced age can limit the capacity to cope with the pressures of governance.
“Why do we begin to think that you must be a hundred years old before you can rule your country?” Jonathan asked.
He noted that leadership requires unusual stamina and resilience, arguing that younger leaders are better positioned to withstand the pressure.
“If they need to stay awake for 24 hours, they can stay awake for 24 hours. When I was in office, some days I did not sleep up to two hours. If you subject an older person to that kind of stress, the person will spend 50 per cent of the time in hospital,” he said.
Jonathan aligned his position with the spirit of Nigeria’s “Not Too Young To Run” movement, which seeks to lower age barriers for elective offices and encourage youth participation in politics.
“I have to reinforce the Not Too Young To Run movement. We have to bring some of these age limits down. If we are looking for people who can run nations in Africa, we should look within the 25 to 50 age bracket. That is when you can be very vibrant, physically strong and mentally sound,” he said.
He also questioned the practice of some public office holders spending extended periods outside their states or countries.
“In a country like the United States, some governors do not leave their states for four years. But here, some of our governors spend 50 per cent of their time outside. So who runs the state? Why will we not have security problems? Coming of age must transcend many things. First and foremost, we must have the discipline to manage ourselves,” he added.
Reflecting on the legacy of General Murtala Muhammed, Jonathan said the late leader demonstrated that age was not a barrier to decisive and visionary leadership. Muhammed became Head of State at 38 and, despite ruling for only 200 days, left a lasting impact.
“General Murtala Muhammed assumed office at the very young age of 38. Despite a tenure of only 200 days, his achievements were profound because he was driven by a clear, unyielding vision.
“His leadership sent a clear message: leadership was to serve the national interest, not personal ambition,” Jonathan said.
The former president also referenced other Nigerian leaders who assumed office at relatively young ages, including General Yakubu Gowon, who became Head of State at 32 and later introduced the National Youth Service Corps, which remains in existence to this day.
“Young man of 32 managed to pull the country through the civil war. So why do we now think leadership must only come at old age?” he asked.
However, Jonathan cautioned that youth alone is insufficient without discipline, patriotism and strong institutions.
While praising Muhammad’s decisiveness, he stressed that democracy depends more on institutions than on individuals.
“Democracy requires vision rather than decree. It requires persuasion instead of command. It depends on institutions, not individuals. Above all, it requires respect for the rule of law and the willingness to submit power to the will of the people,” he said.
He urged African leaders to view governance as stewardship rather than entitlement and encouraged young people to see leadership as service.
“Young people must see leadership as service, not entitlement. Leaders must see governance as stewardship, not a right,” he said.
“I sometimes remember when I contested as a deputy governorship candidate. You had to be 40 years old before you could even be a senator, a deputy governor or a governor, not to talk about president. Yet the Head of State we are celebrating today assumed office at 38,” he added.
Calling on Nigerians and Africans to draw lessons from history, Jonathan said leadership should be measured by impact rather than duration in office.
“As we mark 50 years of General Murtala Muhammed’s legacy, let us remember that leadership is not measured by how long you govern; it is measured by the courage to act decisively when the nation needs direction and by the impact you make on society,” he said.
He emphasised that while military leaders govern by command and authority, democracy demands a different approach anchored on strong institutions, credible electoral bodies, an independent judiciary, well-trained security agencies and accountable governance systems.
“While General Murtala Muhammed symbolised decisive leadership, our democratic future depends on strong institutions. Democracy requires vision rather than decree. It requires persuasion instead of command. It depends on institutions, not individuals. Democracy also demands restraint and respect for the rule of law,” Jonathan said.
News
Police Bust Kidnapping Syndicate In PH
The Rivers State Police Command has confirmed the arrest of two men linked to a criminal syndicate that lured, kidnapped, and robbed women working as “run girls” in Port Harcourt hotels.
The suspects, 27-year-old Albert Koko-Ete Hanson and 18-year-old Wisdom Okon from Abak Local Government Area of Akwa Ibom State, were apprehended after victims reported the crimes to hotel security.
One of the victims, simply identified as Faith, told the police that she was invited to a hotel under the pretense of a client request and was led to a two-bedroom apartment where the suspects were staying.
She said the suspects showed her a photograph of another woman, whom they claimed was owing them N5 million, and demanded her phone password to access her bank account. Her phone was seized, though she had no money in her account.
Faith also alleged that another female victim had already been tied and blindfolded in a bathroom, and both were later stripped and sexually assaulted, with threats of organ harvesting reportedly made by the suspects.
It was learnt that a third victim alerted friends in the hotel via text message while the suspects tried to access her bank app. The quick action of the hotel security team led to the rescue of all the three victims.
The prime suspect, Albert Koko-Ete, reportedly confessed to the crimes and revealed that he had been operating the syndicate for six years, earning over N18 million naira.
Rivers State Police Public Relations Officer, CSP Grace Iringe-Koko, warned young women against engaging in prostitution, citing the high risks involved.
Iringe-Koko advised women to acquire skills and seek legitimate means of income, revealing that the syndicate specifically targeted women with high-end devices such as iPhone 15 and above.
The Police confirmed that the suspects’ method involved identifying women they could abduct to extort money from them or their relatives.
The Police said the suspects remain in custody and will be arraigned in court once investigations are complete.
The Command reiterated its commitment to protecting citizens and dismantling criminal networks preying on vulnerable individuals.
King Onunwor
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