The Nigeria Employers’ Consultative Association (NECA) has issued a call to all levels of government, urging them to address the various factors disrupting the food supply chain in the country. In a statement titled “Nigeria’s inflation dynamics amid currency appreciation: Need for more supplementary measures,” Mr. Adewale-Smatt Oyerinde, the Director-General of NECA, stated the critical need for a holistic approach to tackle inflationary pressures and promote economic stability. Despite recent efforts by the Central Bank of Nigeria to tighten measures, resulting in the appreciation of the naira, Oyerinde noted a concerning trend of decelerating inflation alongside disruptions in the food…
Author: Omolemi Eboisetale
The Federal Government has issued a warning to governors across Nigeria regarding the looming threat of flooding in at least 31 states. This caution comes following a dire prediction by the Nigeria Hydrological Services Agency (NIHSA) indicating high flood-risk areas across the nation. During a briefing in Abuja, the Minister of Water Resources and Sanitation, Prof Joseph Utsev, stated the severity of the situation, revealing that a total of 148 local government areas spanning 31 states had been classified as high flood-risk areas. These states include Adamawa, Lagos, Benue, Ogun, and others, with projections indicating potential flooding between April…
President Bola Tinubu inaugurated the National Single Window Project, projecting a potential annual savings of $4 billion for the nation. The initiative, unveiled at the Council Chamber of the State House in Abuja, seeks to streamline trade operations by providing a centralized digital platform accessible to both domestic and international trade stakeholders. President Tinubu stated the economic significance of the project, highlighting its potential to curtail losses incurred due to bureaucratic hurdles and corruption in trade operations. By implementing a Single Window system, Nigeria aims to optimize efficiency, expedite cargo movement, and enhance inter-African trade, potentially unlocking an annual economic…
An Israeli strike killed a local Hezbollah commander in south Lebanon on Tuesday, the Israeli army and a source close to the powerful Iran-backed movement said. Israel and Hamas ally Hezbollah have been exchanging near-daily cross-border fire since the Palestinian militant group attacked southern Israel on October 7, triggering war in the Gaza Strip. Tuesday’s strike came with regional tensions high after Iran launched missile and drone attacks on Israel over the weekend in retaliation for a deadly Israeli strike on Tehran’s consulate in Damascus. The Israeli military said its “aircraft struck and eliminated Ismail Yusef Baz, the commander of…
Nigeria has witnessed a significant decline in Foreign Direct Investments (FDI) over the past decade, amounting to a $19 billion drop, according to recent disclosures by Wale Edun, the Minister of Finance and Coordinating Minister of the Economy. This was revealed during a presentation to top business leaders in Lagos, shedding light on the economic challenges facing the nation and the government’s strategies to address them. Edun’s presentation highlighted the concerning trajectory of FDI inflows into Nigeria, which plummeted from $22.7 billion in 2014 to a mere $3.7 billion in 2023. This decline underscores the pressing need for initiatives…
In preparation for its 2024 national elections, the Nigerian Bar Association (NBA) has announced its adoption of an electronic voting system to ensure transparency and accessibility for its members. Chairman of the Electoral Committee of the NBA (ECNBA), Mr. Oluseun Abimbola, SAN, revealed the association’s plans during the opening of nomination forms at the NBA Secretariat in Abuja. He emphasized that the electronic voting system will enable members to cast their ballots securely from their respective locations, enhancing convenience and participation. With 50 lawyers already declaring their intentions to contest various national positions, and an expected participation of over 150,000…
Israel launched a “diplomatic offensive” against Iran on Tuesday, calling on 32 countries to impose sanctions against the Revolutionary Guards and their missile programme. Late on Saturday, Iran carried out an unprecedented direct attack on Israel, using more than 300 drones, cruise missiles and ballistic missiles, in retaliation for a deadly April 1 air strike on the Iranian consulate in Damascus. The Israeli military said it intercepted 99 per cent of the aerial threats with the help of the United States and other allies, and that the attack caused only minor damage, including to a military base in the country’s…
The Federal Government has commenced the disbursement of N200 billion in palliative loans to support manufacturers and small businesses across the nation. The Ministry of Industry, Trade, and Investment, through the Bank of Industry, has initiated the Presidential Conditional Grant Scheme, marking the beginning of a phased disbursement strategy. The disbursement process follows an exhaustive selection process, ensuring that verified applicants receive the much-needed financial support. According to Doris Aniete, the progress report shared on the trade minister’s official platform, a portion of beneficiaries has already received their grants. Another substantial disbursement is scheduled for Friday, April 19, 2024, benefiting…
Former presidential candidate and prominent political figure Peter Obi has raised concerns regarding the allocations outlined in the 2024 budget, stating the importance of prioritizing the welfare of Nigerian citizens, particularly the less privileged. In a statement released on his X handle on Tuesday, Obi stated his persistent reservations about several aspects of the budget, highlighting what he perceives as misguided allocations that could hinder the nation’s development and adversely impact its populace. Peter Obi particularly criticized the allocation of N15 billion solely for the National Assembly hospital, a figure he deemed excessive and disproportionate compared to allocations for vital…
The Federal Government has announced the allocation of 8,925 houses to deserving applicants nationwide under the National Housing Programme (NHP). This was as the government noted that there were no completed houses in Abia, Lagos, Bayelsa, Rivers states and the FCT. This is contained in a statement issued by the Permanent Secretary of the Ministry of Housing and Urban Development, Dr Marcus Ogunbiyi, in Abuja. According to the News Agency of Nigeria on Tuesday, the NHF is a Federal Government scheme, which entitles all Nigerians above the age of 21 years in paid employment to a low-interest, government-funded loan. Members…
The Federal High Court in Osogbo, Osun State, granted bail to Olalekan Oyeyemi, an associate of Governor Ademola Adeleke, who is facing charges of terrorism and unlawful killing. The court’s ruling, delivered by Justice Emmanuel Ayoola, came after a formal bail application filed by Oyeyemi’s counsel, Edmund Biriomoni. Oyeyemi, also known as ‘Emir’, was arraigned on eleven counts, including conspiracy, terrorism, unlawful killing, and arson, among others. He had previously pleaded not guilty and was remanded in the Ife Correctional Facility pending trial. During Tuesday’s hearing, the court set Oyeyemi’s bail at N50 million, requiring two sureties to provide the…
The air component of Operation Hadarin Kai (OPHK) has executed a precision airstrike on the hideouts of ISWAP terrorists, killing over 30 of their fighters within Kolleram village along the shores of Lake Chad. In a statement signed by the Director, Public Relations and Information, Nigerian Air Force on Tuesday in Abuja, AVM Edward Gabkwet, said the airstrikes conducted on April 13 were a decisive blow against terrorism in the North-East. He said the operation yielded significant success as the battle damage assessment post-strike conducted revealed the neutralisation of over 30 terrorists. Gabkwet said that among those neutralised were some…