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African Central Bank Takes Off In Abuja, President Tinubu Assures Support

February 17, 2024

By Ayodele Oni

President Bola Tinubu has assured that Nigeria is ready to host the African Central Bank in line with the vision of the Abuja Treaty.

Presidential spokesman, Ajuri Ngalele, in a statement said Tinubu gave the assurance while addressing leaders at the 37th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) in Addis Ababa, Ethiopia, on Saturday,

President Tinubu said his administration will engage the African Union Commission in collaboration with member states to ensure that the bank takes off as scheduled in 2028.

The President affirmed that Africa’s success in addressing its challenges hinges on the firmness of its resolution, built on a foundation of deep-rooted solidarity, if it is to avoid perpetuating existing problems and creating new ones.

“As a continent and as individual nations, we face strong headwinds and difficult hurdles threatening to complicate our mission to bring qualitative democratic governance and economic development to our people.

“Many of these obstacles, such as climate change and unfair patterns of global trade, are largely not of our making.

“However, some of the pitfalls, including coup-birthed autocracies and the deleterious tinkering with constitutional tenure provisions, are developmental cancers we as Africans are giving to ourselves.”

Speaking on the military takeovers in the Republics of Guinea, Burkina Faso, Mali, and Niger, and the exit of three of these nations from ECOWAS, the President said disagreements over the unconstitutional changes of government should not mean a permanent rupture of the abiding lines of regional affinity and cooperation.

“The drive for a peaceful, strong, and united West Africa is bigger than any one person or group of people. The bonds of history, culture, commerce, geography, and brotherhood hold deep meaning for our people.

“Thus, out of the dust and fog of misunderstanding and acrimony, we must seize the chance to create a new people-centric era of trust and accord.

“To all who care to listen, I declare that if you come to the table to discuss important matters in good faith, you will find Nigeria and ECOWAS already sitting there waiting to greet you as the brother that you are.”

On education, which is the theme of this year’s summit, the President said education is the core ingredient in the process of evolving creative solutions to the unique challenges long confronting the continent.

“In helping to achieve the Agenda 2063 objective of a peaceful, united and prosperous Africa, I consider African education, not only in the narrow context of the benign use of science and technology to improve the material standards of our people, but also in the nuanced appreciation of the fact that Africa must also become better educated in the humane art of democratic practice, diplomacy, and conflict resolution without violence.

“This year’s theme encourages us to remodel our educational systems to fit these goals. In Nigeria, my administration is devoting ample resources to education at all levels.

“From redesigning our school feeding programmes and academic curricula to making ourselves an Information and Communication Technology hub, through which we shall bring more youths into the classroom and furnish them with the tools required to flourish in the global economy of the 21st century.”

The President used the occasion to extend invitation to the Africa Counter-Terrorism Summit scheduled to take place in April 2024, in Abuja, stating that the summit aims to expand discussions beyond military and law enforcement remedies to comprehensively tackle the root causes of violent extremism, such as poverty, inadequate political access, and the propagation of hateful ideologies.

Imo Monarch, Eze Amadi, Escapes Death From Gunmen, Kidnappers Strip Women Nak€d

The Source

February 17, 2024

By Charles Igbo

But for the bravery of his driver, His Royal Highness, Eze Emeka Amadi, the Traditional Ruler of Okolochi, Owerri West Local Government Area, Imo State, could either have been dead, or in the hands of kidnappers by now.

Eze Amadi miraculously escaped the gunmen on Friday afternoon while on his way back to his Community.

An eye witness account said that the incident took place along the road between Ihiagwa and the Eze’s Community, Okolochi.

While they were driving home, his “eagle-eyed” driver suddenly noticed that the gunmen have blocked the road. Faced with a choice between the devil and the deep blue sea, he took the risk. Using his skill, he accelerated and drove through the hoodlums who, in disbelief, jumped away from the road.

One of them, however, was not that lucky as he was hit and knocked down by the Eze’s car, thanks to the courageous action of the driver.

This medium was not able to confirm if the hoodlums managed to take away their colleague, but as they escaped, they rained bullets on the Eze’s car. Mercifully, even though he was brushed by bullets, he survived the attack, and, is currently in an undisclosed hospital.

But, not yet done, as the hoodlums escaped, they met some women on their way back from their farms. To humiliate them, they forced them to strip naked and sprawl full length on the ground. However, the quick intervention of angry youths, hunters and vigilante members who mobilized to the scene, saved the women from any further molestation as the hoodlums ran away with the youths and local hunters on their trail.

Narrated an eye witness who put the story out:

“HRH Eze Emeka Amadi of Okolochi Autonomous Community narrowly escaped death after his vehicle was sprayed by bullet some few hours ago on the Okolochi- Ihiagwa road.

“The driving skill of his driver who took the risk to stump on the kidnappers, knocking down one with the rest scampering into the bush (saved the day). They later shot sporadically at his car with a bullet brushing him. He is currently receiving treatment in an undisclosed hospital.

Not done yet, these marauders attacked some women returning from the farm ordering them to remove their clothes. They were told to lay down naked on the ground . They were rescued after combined youths from Okolochi initiated a counterattack.

“The youths, hunters, and their vigilante team have initiated a thorough combing of the adjoining forest with a view to apprehending the marauders.

“We have put our security team on red alert and urged caution on movements.

We are living in dangerous times as Oche appears to be under siege.”

In his reaction, Sir Ernest Amadi, the Eze’s brother who resides in the United States of America, said:

“This dastardly attack happened this Friday afternoon when HRH Eze C.C. Amadi was traveling along Okolochi and Ihiagwa town link road.

“Thank God he escaped through the bravery hands of his driver, who took a leap of faith and drove through the assassins/ kidnappers.

“Right now, my brother is recovering from some bruises and some wounds.

“Please let’s watch and pray for our communities to overcome this state of seige that has bought fear and apprehension in our community. God bless.

Sir. Ernest Amadi”

The forests and bushes in most parts of Owerri West have, sadly, become the abode for kidnappers. In recent times, the Police and local hunters successfully conducted raids in the bushes and forests. Some arrests were made during the raids while, at least, five decomposed bodies of victims were discovered.

Four Die In Lone Accident Along Lagos/Ore Highway

Ayodele Oni

February 17, 2024

By Ayodele Oni

Four persons have been confirmed dead on Friday in a lone accident at Ore in Odigbo local government area of Ondo State.

It was gathered that 10 other passengers also sustained various degree of injuries during the crash.

Confirming the incident, Public Relations Officer, Ondo State Command, Funmilayo Odunlami-Omisanya said the accident occurred due to the driver’s exhaustion.

The Police spokesperson in a release on Saturday on behalf of the Commissioner of Police, noted that the driver lost control and entered the ditch on getting to the step-down area at Ore.

The driver who had been driving from Port Harcourt was heading to Lagos when the crash occurred.

“On February 16, 2024 around 6:30am, the Police received an information that at step-down area in Ore, Chisco Company luxurious bus with reg no KSF 93 YG had an accident.

“Passengers of the vehicle were rushed to Grace of God hospital by the Police; four people confirmed dead and their remains deposited at the hospital mortuary while 10 were injured and are being treated.

“Information has it that the vehicle left Port Harcourt for Lagos and on getting to stepdown area of Ore, he lost control and entered a ditch which led to the accident.

“The public are hereby advised to check on their loved ones who left for Lagos from Port Harcourt with Chisco Transport on the above mentioned date.

“The command while sympathizing with the families of those who lost their loved ones in the unfortunate accident use this medium to advise transportation companies to be circumspect on physical and mental condition of drivers engaged to drive passengers.”

Ondo APC, House Of Assembly Berate Reps Over Gov Aiyedatiwa, Advise Them To Face Business Of Law-making

Ayodele Oni

February 17, 2024

By Ayodele Oni

The All Progressives Congress (APC) in Ondo state has disowned those members of the House of Representatives that signed a letter to President Bola Tinubu accusing Governor Lucky Aiyedatiwa of sundry allegations.

The APC in the state described their action as embarrassing yo the party as all allegations against the governor were unfounded.

APC, in a statement on Saturday by the publicity secretary, Alex Kalejaye stated that “The recent allegation of neglect of Ondo State chapter of the All Progressives Congress (APC) by some members of House of Representatives from Ondo State is unfounded and embarrassing to the chapter.

“Members of the State Working Committee of the party, a few days ago, paid an unscheduled visit to the Governor, who put aside other engagements and accorded due respect to the SWC.

“The Governor, who is also the leader of the chapter, had extensive discussions on how to further build the party and promote unity within the fold, with a view to securing victory for APC in Ondo State, come November.

“The Governor never talked about personal ambition, but rather expressed desire to ensure befitting burial for the departed leader, Arakurin Oluwarotimi Akeredolu SAN, CON.

“It is gratifying to note that all the concerns raised by the party, through the State Chairman, Engr. Adetimehin, were duly considered by the Governor, who assured that he would address them betimes.

“The party appreciates the two gentlemen, Honourables Abiola Makinde and Donald Ojogo, for taking time to discredit the spurious allegations put forward by their colleagues.

“For the records, there is no rancor nor bad blood between the Governor and the party structures in the state. The development of the chapter is the crux of all decisions and activities in the State.

“We expect party leaders, including the federal lawmakers, to key into the focus and support laudable ideas that befit nobility. For now, Ondo State does not deserve discordant tunes, that betray malice and self-servicing.”

Also reacting to the action by the Reps Members, the Ondo State All Progressive Congress (APC) Caucus in the State House of Assembly under the leadership of the Speaker of the House, Rt.Hon.Olamide Oladiji called on politicians in the state to maintain decorum, uphold the existing peace in the State and work for the overall progress of the party at all levels.

The call was made in an official statement made available to journalists by the Secretary of the Caucus, Gbegudu Ololade, today in Akure.

Reacting to the purported letter written to President Bola Ahmed Tinubu by some members of the Ondo State APC Caucus in the Federal House of Representatives, the House of Assembly Caucus condemned the act, saying it was unnecessary especially at this time that the State is preparing for the burial of the Former Governor of Ondo State, Oluwarotimi Akeredolu.

The State lawmakers noted the tireless efforts of President Tinubu and the leadership of APC led by its national Chairman, Alhaji Abdullahi Ganduje in encouraging unity and cohesion among political actors of Ondo State.

While calling on the five APC caucus in the House of Representatives to sheath their swords and not heat up the Polity in the overall interest of the party at large, the House of Assembly members advised their senior counterparts to channel their energies in supporting the lofty policies of Governor Lucky Aiyedatiwa and join him in fostering development for Ondo state citizenry.

“We enjoin our brothers in the House of Representatives not to heat up the polity by this unwarranted accusations, name callings and finger pointings.

“We admonish them to rather work together with other members of our party as a big family under the leadership of Governor Aiyedatiwa, in order to achieve a common goal.”

Ahead Of Party Primaries, Ondo Police Command Cautions Against Fake News, Thuggery

Ayodele Oni

February 17, 2024

By Ayodele Oni

As political activities begin to pick up, Ondo state Police Command has read riot act to politicians in the state ahead of the party primaries to pick governorship candidates.

The Independent National Electoral Commission (INEC) has fixed governorship election in the state for November 16.

Politicians, especially those interested in the governorship are already moving round the state to seek votes, as well as holding discussions with leaders of their various parties.

The Commissioner Of Police, Ondo State command warned that politicians participating in their political party primaries ahead of the Gubernatorial election in the state should be wary of activities that can heat up the polity in the state.

A statement on Saturday by the Command’s spokesperson, Funmilayo Odunlami -Omisanya, stated that “Political gladiators are also enjoined to warn their supporters not to be part of any disruptive or destructive act that can lead to break down of law and order.

“Parents and guardians are urged to warn their children/ wards not to serve as toxic agents and purveyors of false news capable of creating anarchy in the state.

“In the same vein, the good people of the state are urged to be wary of those who may want to use them as guinea pig in the primary process, as the law will take its full course on anyone involved in political disturbance under whatever guise using the current state of the nation as a fulcrum of destabilization.

“While enjoying our freedom of movement and association as enshrined in the 1999 Constitution of the federal republic of Nigeria (as amended) residents of the state are advised to be responsive and conduct themselves in a responsible manner.

“On this note, all political participants and supporters are urged to operate within the ambit of the law before, during and after the primary process while those who may have their reservations should handle it within the confines of the law or be made to face the full wrath of the law.”

Sealing Of Sahad Stores: This Is Not A Time For Populism

The Source

February 17, 2024

By Frank Nweke II

“Closure of Sahad Stores: Breaking into warehouses which have been legitimately used by business owners to store their products through the years is ill-advised and ultimately counter-productive. It may become an unwitting signal for miscreants to raid stores and businesses under the pretext that the government claims that items are being hoarded”

I find the news on the purported sealing of Sahad Stores, Abuja on February 16, 2024 by the Federal Consumer Competition and Protection Commission (FCCPC) very distressing.

Recently, news reports quoted the Niger State Governor as having directed law enforcement agents not to allow bulk purchase of grains within the state.

A few days ago, while addressing the Senate Committee on Banking, Insurance, and Other Financial Institutions, the Minister of Agriculture said that the government was considering closing Nigeria’s borders to stem cross-border trading in grains.

This action and others contemplated by the government suggest that it has reached its wit’s end. It is an admission of cluelessness and incapacity and will only serve to further erode public trust and worsen Nigeria’s economic woes.

It is a disturbing signal to local businesses and potential investors. It is inconsistent with free market principles which the government claimed underpinned the policy choices made since May 2023.

It is neither a thoughtful nor pragmatic response to the rampaging headline and food inflation, respectively 35.4% and 29.9%, exacerbated by insecurity, which has constrained food production and supply.

Pouring any kind of fuel into a fire that you do not want can only expand the size and scope of the fire.

It is difficult to accept the justification provided by FCCPC – that prices charged at the checkout counter are higher than the price tags on products on the store shelves. Sahad Stores was also alleged to be hoarding goods. Since when did the government start fixing prices? I am sure that citizens will be pleased to avail the government of a list of items we would like the government to fix if the government has now resumed this task.

The daily flurry of circulars from the CBN and other economic departments of the FGN underscores the high turnover of policy options in response to the unprecedented volatility of the Naira and the prices of goods and services across the nation.

Are we not witnesses to the nearly hourly change in the value of the Naira in an atmosphere of wage stagnation?

How can it be that a well-known business like Sahad Stores, which is open to customers almost 24 hours a day including weekends can be hoarding goods that it opens its doors to sell every day?

I do not encourage or support hoarding and profiteering, but people make investments to make gains and not losses. Businesses, whether large, medium or micro are responding to economic stimuli – government’s macro and fiscal policies, wage stagnation, insecurity and simple calculations around replacement costs of goods.

The appropriate response in my view, is determined efforts by the government to govern well – and be seen to do so by:

Urgently improving the safety of lives and property to restore social and economic trust for citizens to go about their lawful businesses without fear. If farmers enjoy security, we will produce more food.

Align monetary and fiscal policies. While the CBN has been aggressive in restoring macro stability, not much has been heard from the Ministry of Finance which also serves as the coordinating Ministry for the overall economy.

3.The effort of the government to improve the food supply will continue to be constrained by the pervasive insecurity across the country.

Recognize that these are not normal times, deliberately reduce the cost of governance, and eliminate leakages and corruption.

Go beyond lip service on the matter of diversification of the economy, actively identify business opportunities ready implementation and provide every needed support for them to take off, create jobs and earn foreign exchange for the country.

Breaking into warehouses which have been legitimately used by business owners to store their products through the years is ill-advised and ultimately counterproductive. It may become an unwitting signal for miscreants to raid stores and businesses under the pretext that the government claims that items are being hoarded.

Who will want to continue to invest if the government which should ensure the security of the businesses are the ones endangering them using populist rhetoric?

So, you destroy people’s investments and empty the warehouses and the stores, the simple question that I have for the government is, after now, then what?

As a country, Nigeria can survive this extremely challenging time. The administration must however jettison all pretensions to partisanship and reach out to friends and foes alike, who have the capacity, experience and track record to support the administration at this time. Individuals such as Akin Adesina, Benedict Orama, Ngozi Okonjo-Iweala, Oby Ezekwesili, Atedo Peterside, Sanusi Lamido, Bayo Ogunlesi, Ayo Teriba, Biodun Adedipe, Osita Ogbu, Ade Ojowu, Jonathan Aremu should be engaged under the auspices of a reconstituted Presidential Economic Advisory Council.

Most importantly, the government must act in good faith to implement the policy options and economic solutions proposed by this council.

Nweke II, politician, entrepreneur, teacher and social innovator, was Minister of Intergovernmental Affairs, Special Duties and Youth Development; Minister of Information and Communication and former Director General, Nigerian Economic Summit Group (NESG).

How Abductors Of Emure Pupils And Their Teachers Were Arrested, Vigilante Members Involved

The Source

February 17, 2024

By Gideon Njoku

The Ekiti State Police Command has arrested the heartless gunmen who abducted six Pupils and three Teachers in Emure, Ekiti State from their school bus on their way home from school recently.

The traumatised pupils and their teachers have since been released after about a 10-day stay in the custody of their abductors. They were released after a ransom money of N15m was paid. Sadly, the driver of the bus was killed and his body still missing. According to one of the released victims, the driver was killed for daring to ask one of the victims to shift from an ant-infested area where the victim was lying down. His devasted family in an emotional appeal, has asked the Government and Security Agencies to help find his body, even if burnt, to enable them give him a decent burial. The allegation is that the gunmen set his body on fire after killing him.

However, the cheering news is that the heartless and blood thirsty hoodlums have been arrested.

According to the Police in a statement, “This recent breakthrough was made possible through the dogged effort of our gallant men of the Rapid Response Squad (RRS) ably led by their Commander, CSP. Ogundola Marcus.

“In our relentless and deliberate efforts to rid the State off criminal elements especially kidnappers and the quest to ensure the arrest of the hoodlums behind the killing of two traditional rulers in Ikole-Ekiti and the kidnapping of some school children and their teachers in Emure-Ekiti as well as other kidnapping incidents in the State, the Command Rapid Response Squad (RRS) commenced a thorough investigation and operation and arrested Eight (8) members of a kidnapping syndicate and neutralized one. Details below:

“On 8/02/2024 at about 1300hrs, the Command Rapid Response Squad (RRS) received a credible tip-off that a gang of armed men has invaded a farmland at Eda-Oniyo-Ekiti and were planning to kidnap some Expatriates in Dairy Farmland, Ikun-Ekiti.

“Upon receipt of the information, a team of RRS operatives swung into action and arrested one ABUBAKAR ALIYU a.k.a SMALLIE who was on a mission to spy on the actual location of the Expatriates. After the arrest of Abubakar Aliyu a.k.a SMALLIE, the leader of the kidnapping gang identified as one Sumo Karami sent two (2) vigilante members, one Saliu Ibrahim and Umaru Saliu, to secure the bail of the arrested gang member from Police custody.

“The two (2) vigilante members were arrested and they led the RRS operatives to Oro-Ago town where one Mohammed Bashiru, the leader of Miyetti Allah vigilante in Oro-Ago, Kwara State, was arrested. During interrogation, Mohammed Bashiru revealed that he is a relative of Sumo Karami who is a leader of a dreaded kidnapping gang and that Abubakar Aliyu a.k.a SMALLIE is one his gang members who have been terrorizing and kidnapping innocent citizens with AK47 rifles and other dangerous weapons.

“Initial investigation revealed that Sumo Karami and his gang members were responsible for the kidnapping of the Pupils and their Teachers in Emure-Ekiti on 29th January, 2024.

“Meanwhile, the phone used to demand for ransom for the release of the Pupils and the Teachers was recovered from the suspects and effort intensified led to the arrest of two (2) among the gang members, namely: Yahaya Jubril and Usman Garba in Owo forest, Ondo State.

“Further investigation led to the arrest of one Kenneth Ugwu in Ibadan, Oyo State, on 14/02/2024. The suspect, during interrogation, confessed to be a member of a kidnapping syndicate who kidnapped 5 Pupils, three (3) teachers and a driver in Emure-Ekiti who was allegedly killed by the kidnappers. The suspect led a team of RRS operatives to the kidnapper’s hideout inside Agric Reserved Forest between Ise-Ekiti/Emure-Ekiti. On sighting the Police, the armed hoodlums engaged the team in a gun duel. In the process, one of the gang members who was later identified as AYUBA was neutralized, one Abubakar Mohammed a.k.a Smallie was captured alive while other gang members escaped through the forest.Investigation revealed that the syndicate was responsible for the kidnapping of one Paul Omotosho, the APC Chairman, Ekiti State, along Agbado/Imesi, Ekiti road on 08/07/2023, the kidnapping of Mr. and Mrs. Awoniyi along Ikere/Itaogbolu road in the month of January this year and the kidnapping of teachers and pupils of Apostolic Faith Secondary School, Emure-Ekiti on 29th January, 2024.

“EXHIBITS RECOVERED:

One (1) AK 47 assorted rifle,
One(1) pump action gun loaded with five (5) lives cartridges,

iii. Twenty-one (21) AK47 live ammunition

Expended shells of AK-47 ammunition.
One (1) face-mask
One (1) Nose mask

vii. Two (2) pairs of hand glove

viii. Twenty (20) different handsets

One (1) National ID Card bearing Salisu Mohammed
Two (2) MTN sim card
One (1) airtel sim card”

“Halt Mindless Killings In The South-east” Ndigbo In Diaspora Urge President Tinubu

The Source

February 17, 2024

By Daniel Maduka

Ndigbo in the Diaspora under the aegis of Igbo General Assembly, IGA, have called on President Bola Tinubu to arrest the high level of insecurity and human carnage ravaging most parts of the South-east Region.

The Malaga Spain based IGA in a statement issued and signed by its President- General, Ozo Kingsley Ndibe, and Secretary, Hon E. C. Onugha, on Saturday February, 17, 2024 ,and made available to a section of the Media expressed the optimism and confidence in the abilities of the President to find an enduring panacea to the security challenges being faced by the people of the South-east Region. They urged the President to use the instrumentalities of his office as well as his status as the father of Nigeria to halt the orgy of violence and mindless human and material destruction in most States of the region.

The IGA which statement was issued at the end of its Conference in Spain regretted that since the commencement of the avoidable security problems, Diaspora investments which have been one the bedrocks of the region’s economy has considerably dwindled, as people can no longer come home to invest.

The disproportionate short fall in diaspora investments, according to the Umbrella body of Ndigbo in the Diaspora, has resulted in an increase in youth unemployment, with same youths now a willing tool in the hands of merchants of violence, kidnappings, and other criminal enterprises.

They noted that this ugly development has been a major source of concern to all Ndigbo both at home and abroad, and lamented the lack of political will on the part of the Muhammadu Buhari administration to halt the slide.

The IGA advised that one of the practical steps that should be considered in the efforts to restore normalcy and end the continued economic strangulation of the region is to find a lasting solution to the lingering incarceration of Mazi Nnamdi Kalu.

“There have been incessant cases of kidnappings, killings and regular bloodetting in the South-east, where our mothers can no longer go to the farm and fathers cannot also go out to conduct their businesses.

“Movements have been restricted in the region every Monday of the week.. All these have been impacting negatively on the educational future of the children and economic growth of the region.

“As stakeholders in the Igbo General Assembly. we are calling for the unconditional release of Mazi Nnamdi Kalu.

“We have faith in your administration’s abilities to build on equal rights ,justice ,and fairness for all irrespective of tribal ,political and or religious affiliations ” IGA stated.

Falana To Tinubu: Resist Pressure From IMF To Increase Electricity Tariff, Fuel Price

Akinwale Kasali

February 16, 2024

By Akinwale Kasali

A senior Advocate of Nigeria, SAN, Femi Falana, has advised the Federal Government not to bow under the unnecessary pressure by the International Monetary Fund, IMF, to increase the electricity tariff and fuel pump price.

Nigerians are presently facing economic hardship following the deplorable State of the nation’s economy that has led to protests in some part of the country.

Falana, Chairman, Alliance on Surviving Covid 19 and Beyond, ASCAB, in a statement on Friday 16th February, 2024, advised President Bola Tinubu to reject the IMF’s advice and not further inflict pains on Nigerians.

Falana said that contrast advice given to UK Chancellor, Jeremy Hunt against cutting taxes by the IMF, should be totally rejected by the President.

He said: “Sometime in November 2023, the Minister of Power, Adebayo Adelabu, said that President Bola Tinubu stopped the implementation of a hike in electricity tariff and insisted that subsidy be paid on power consumed nationwide.

Adelabu said then “Tariffs should have been raised months back, but Mr President said until we can achieve regular and incremental power supply we can’t touch the tariff.

The Minister also said that “But for political reasons and empathy, you can not cause additional burden on Nigerians. We just had the removal of the fuel subsidy, we are talking about the exchange rate skyrocketing, galloping inflation, and so many others that bring hardship to the people.”

On January 1, 2024, the Nigerian Electricity Regulatory Commission (NERC) equally dismissed the widespread rumours of an increase in electricity.

“In the same vein, on February 8, 2024, the Nigerian state-oil company the Nigerian National Petroleum Corporation Limited said that it had no plans to raise petrol prices after a second devaluation of the Naira in less than a year, following speculation that it could increase prices to recover some of its import costs.

“The NNPC — the sole importer of petrol because local private firms are unable to obtain foreign currency — urged Nigerians to disregard the speculation about price rises, adding that “there are no plans for an upward review of the (petrol) price.

“However, three days ago, the International Monetary Fund (IMF) directed the Bola Tinubu administration to remove the pump price of fuel and electricity tariffs without any further delay on the grounds that “current subsidized rates are thought to be significantly below the actual market prices. By phasing out these subsidies, the government would allow fuel and electricity prices to align more closely with their true market value, potentially leading to increased costs for consumers.

“Barely 24 hours later, the Minister of Power, Mr. Adedibu said that Nigeria could not continue to subsidise electricity, adding that the nation must begin to move towards a cost-effective tariff model, as the country is currently indebted to the tune of 1.3 trillion naira to generating companies (GenCos) and 1.3 billion dollars owed gas companies.”

“It is doubtful if the neoliberal ideologues in government are aware of the fact that on January 30, 2024, the IMF warned the UK Chancellor, Jeremy Hunt against cutting taxes, arguing that country needs to curb public borrowing and prioritise spending in areas such as health, education and tackling climate change. Pierre-Olivier Gourinchas, IMF chief economist, told the Financial Times that the UK’s focus should be on “the path towards a fiscal consolidation” despite expectations that Hunt would cut taxes at his spring Budget.

“ Hunt should be “trying to rebuild fiscal buffers . . . in the context in which there are important spending needs”, Gourinchas said, rather than add to the £20bn of personal and business tax cuts delivered in November. We would rather wish they would not do this type of tax cuts, and that they would instead focus on both addressing the spending needs and on the path towards a fiscal consolidation.

“ In urging the Bola Tinubu administration to pluck up the courage to reject the dangerous directives of the IMF to further increase the pump price of PMS and electricity tariffs, the international intruder should be questioned for applying different standards to Nigeria and the United Kingdom. Henceforth, the Federal Government should halt the implementation of the dangerous prescriptions of the IMF including the removal of subsidies and floating of the Naira.

“Our economic managers should be wary of the sort of lectures they receive from the IMF on the matter of subsidies given the realities in some advanced capitalist economies.

“According to the London-based news agency, Reuters, on June 8, 2023, the British government said that it had paid almost 40 billion pounds ($50 billion) in energy subsidies since it began to help households and businesses cope with the surge in power bills after Russia’s invasion of Ukraine.

“The same Reuters reported last year that the United States’ subsidies for renewable energy producers more than doubled between 2016 and 2022, forming nearly half of all federal energy-related support in that period. Renewable subsidies jumped to $15.6 billion in fiscal year 2022 from $7.4 billion in fiscal year 2016, according to the Energy Information Administration’s Federal Financial Interventions and Subsidies in Energy report.

The French newspaper, Le Monde, also reported that on April 21, 2023, the French government said that it would continue subsidising electricity bills into 2025 as prices suffer from Russia’s invasion of “Ukraine and part of the country’s nuclear reactor fleet remaining offline. The IMF has not called on France to stop subsidising electricity and increase electricity tariffs. So, the IMF anti-subsidy campaign in Nigeria should be flatly rejected. “

“We Shall Restore ABSUTH’s Dignity” Vow Management, Government

The Source

February 16, 2024

The Acting Chief Medical Director CMD of Abia State University Teaching Hospital ABSUTH Aba, has said that the major task ahead of the Management of the Institution is to ensure the restoration of its lost glory, with a view to aligning its operational dynamics with the vision ,mission and philosophy of its progenitors .

This is just as the Abia State Government has promised to continue to lend its support to moves aimed at regenerating the fortunes of the state’s tertiary health facility.

The duo of Dr Ngozi Okoronkwo Abia Health Commissioner, who represented Governor Alex Otti, and Prof Chikezie spoke separately on the occasion of the maiden edition of the Outstanding Scholars Lecture Series organized by the tertiary hospital on Friday February 16 2024 .

The CMD noted that the lecture series has been conceived as one of the veritable means of arousing the consciousness of ABSUTH stakeholders on the need to show commitment and dedication to the onerous task of transforming the institution,in line with Governor Otti, Abia renewal project

“By instituting this lecture series,we are seeking to promote excellence via key resource persons who have made their extraordinary strides ,particularly in the field of Medicine and healthcare generally.

“Following in the footsteps of Governor Otti, under whose watch we have witnessed an unrivaled commitment to the advancement of the Abia dream vis-a-via the restoration of critical infrastructure in concurrence with a renewed focus on education and healthcare.

“I am compelled to not only reflect upon this ,but to also recognize hard work ,enterprise and unity among the various stakeholders as critical elements needs for growth

“Every scholar involved in this project has left an indelible mark and therefore ,is a testament to the lofty heights we are pursing. We intend first , to draw inspiration from these notable scholars and thence ,motivate ourselves to strive harder and accomplish more in our little spaces.” Prof Chikezie stated.

The Abia State Governor informed that priority will be accorded to the transformation of the Teaching Hospital by his administration to enable it discharge its statutory responsibilities to the people as envisioned by its founding fathers.

He called on both the management and other stakeholders of ABSUTH to work assiduously towards restoring the dignity of the institution,which it lamented has nosedived in the past few years.

The Source reports that ABSUTH conceived as a centre of excellence for the breeding of qualitative medical personnel and second only to the University of Nigeria Teaching Hospital UNTH Enugu in South East region ,suffered a reversal in fortune in the last few years,climaxing with the infamous and scandalous loss of its Medical And Surgery accreditation status late 2022 .

Normalcy was only restored about three months ago,following the intervention of the present Abia State Government.

The Maiden edition of the lecture series, with its theme “Networking In The Life Of An Academic” was delivered by a Professor of Nephrology, UNTH Enugu, Ifeoma Ulasi.

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