🗞️ Nigeria’s inflation 🤝 fresh bread
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This edition was written by Hope Ibiale, and edited by Adetomiwa.
That News News is an independent self-funded project by me (Adetomiwa). If you find it useful, you can support by sharing, donating or sending us sweet treats 😄
In this edition:
Nigeria’s inflation is rising like bread
Tinubu is paying the power sector’s gbese
NLC’s fight is not over yet
Cybersecurity levy on hold
The Rivers State political battle: Wike vs Fubara
This edition is 2,400 words long. Approx 8 min read
The mass marriage of orphans has supposedly stopped
The Speaker of the Niger State Assembly, Abdulmalik Sarkin-Daji, announced the mass marriage of 100 orphans in Niger. The plan sparked reactions from several human rights activists, for good reason.
The Minister of Women Affairs, Minister Uju Kennedy-Ohanenye, interjected by filing a court order to stop the wedding.
Nigerians have also raised their concerns over the intended mass marriage and started a petition to stop the marriages.
In a turn of events, Minister Kennedy-Ohanenye dropped the suit. She stated that the wedding has been stopped and the girls will be empowered and given an education.
Money
EFCC's latest venture
The Economic and Financial Crimes Commission (EFCC) has directed embassies to stop all Dollar transactions.
The Crimes Commission Department also instructed Nigerian foreign missions domiciled abroad to accept Naira in all their business transactions.
According to the commission, this directive is to tackle the dollarisation of the Nigerian economy and the degradation of the naira.
EFCC has also begun to arrest Bureau De Change operators in Abuja.
Inflation is at its highest
The inflation rate in Nigeria has increased to 33.69%, one of the highest rates in 28 years. Someone Guinness World Records.
According to a report by the National Bureau of Statistics in April, the food and non-alcoholic beverages category are the biggest contributors to inflation.
To address the rising cost of everything, The Federal Government (FG) announced a 35% salary increment for civil servants. They have also shared 42,000 tons of grains.
San Francisco jamming
The FG has announced plans to build a Nigerian Digital Technology Exchange Program Hub in San Francisco.
In a bid to position Nigeria as a “significant player” in the global technology space, the FG has disclosed its plan to establish a technology hub called the Nigeria Startup House in San Francisco.
According to the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, the project has been approved by the Federal Executive Council (FEC).
The soon-to-be-established startup house will be managed by a group of Nigerian digital technology companies. These companies will provide funding.
Cybersecurity levy on hold
Nigerians can now breathe easy as the FEC has suspended the cybersecurity levy policy.
The Minister of Information and Culture announced the suspension of the cybersecurity levy policy.
It was suspended to undergo a review and might be re-introduced
A few weeks ago, the CBN told banks to levy 0.5% on selected electronic bank transactions. Nigerians criticised the government for imposing a levy while failing to increase the minimum wage.
Power to the women
To improve access to healthcare for Nigerian women, the FG via the Ministry of Women Affairs is introducing N200 monthly health insurance plan.
In addition, 37,000 women in different states will receive a PoS machine from the Ministry of Women's Affairs. Women who get the machines will pay the N200 out of pocket.
Student loan portal back up
The Nigerian Education Loan Fund (NELFUND) announced that the Student Loans portal will (finally) be opened on May 24, 2024.
The portal was put on hold in March, a day before it was set to launch, so the FG could re-evaluate its content.
Students have been advised to visit www.nelf.gov.ng to begin the application process.
About 1.2 million students from tertiary institutions and government-recognised acquisition centres are predicted to be the first batch to access the loan.
The billing is going round
President Tinubu and other VIPs are set to start paying fees at toll gates anytime they use airports in Nigeria. Apparently, the FG has been losing 82% of airport toll gate revenue due to the refusal of certain government officials to pay the toll gate fees.
Minister of Aviation and Aerospace Management, Festus Keyamoordered sent a general message to the president and other VIPs saying they will start paying. You see this billing, it must reach everybody
The Neps are settling some debts
To improve the power situation in Nigeria, President Tinubu has approved the payment of the outstanding N3.3tn power debts.
A breakdown: The FG will pay N1.3tn to power-generating companies via cash injections and promissory notes, and about $1.3bn via cash and futures will go to gas companies.
With these payments, the poor power supply should hopefully improve.
All the debts might not be paid now, but the Minister of Power, Chief Adebayo Adelabu, stated that plans are being made to ensure the debts are paid gradually.
More on power
In a bid to tackle power outages in Nigeria, President Tinubu launched new gas plants namely; the AHL Gas Processing Plant and the ANOH Gas Processing Plant. According to the president, the gas supply from these plants would improve the lives of Nigerians significantly.
As a result of the 500MMscf of gas that would be supplied from these gas plants, there would be an increased supply of gas to the power sector, which will hopefully translate to more electricity.
NLC’s many fights
The recent increase in electricity fees has prompted the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) to join forces for a nationwide protest. Members of the NLC and TUC shut down electricity distribution companies in Lagos, Kano, Ebonyi, Plateau, Kaduna, Bauchi, and Jos. Protesters said the hike is because power supply is still unstable.
The FG NLC and TUC have rejected the government’s counter of N48,000 to their N615,000 minimum wage proposal. The union reps said the proposed minimum wage is an “insult” to government workers.
FG’s solution
A few days ago, the FG plans to implement a new payment structure where each government worker is paid “based on their monthly performance”. Director-General of the National Productivity Centre, Nasir Raji-Mustapha, disclosed that the payment proposal has gone through one phase of assessment.
Pensioners can breathe easy
A few weeks ago, there were allegations that the FG intends to use pension funds for infrastructural developments.
However, Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, refuted the news stating that the pension fund is guarded by several legal frameworks.
The pension funds were intended to be used to drive investments in certain sectors of the nation. The union of the NLC and TUC released a joint statement admonishing the FG and warning them not to touch the pension fund.
Infrastructure
Cleaner energy, by force?
President Tinubu has directed all government officials and agencies to purchase vehicles powered by compressed natural gas (CNG), solar power, or electric energy sources.
To ease Nigeria’s transition to cleaner energy, the president rejected all bids by government officials to purchase petrol-dependent cars. He asked all government officials and agencies to embrace the new energy sources.
Although this charge is for all Nigerians, the president urged government officials to lead by example.
Last year, the presidency launched the Presidential Compressed Natural Gas Initiative (PCNGi). 800 CNG buses, 4,000 CNG tricycles, and 100 electric buses will soon be distributed across the nation.
The president believes this new policy will open doors for investment in renewable energy, solar panels, and lithium batteries.
Soon, Nigerian petrol stations will start installing CNG pumps in their stations. The government’s plan is to harness the nation’s abundant gas supply and reduce the reliance on fuel.
Fraud and Crime
Siriki, again?
The EFCC plans to arraign ex-aviation minister, Hadi Siriki and his brother, Ahmad Abubakar, over new corruption charges.
We previously reported that the former minister, his daughter and her husband were arraigned over charges of abuse of office in awarding contracts. It appears the family’s business with EFCC is not over.
Like the previous case, Siriki and Abubakar will be charged for abuse of office.
The EFCC reports that Siriki awarded contracts worth N14 billion to brother’s company, which is in breach of Section 19 of the Corrupt Practices and Other Related Offences Act, and the ICPC Act.
Emefiele is not guilty, according to him.
Former CBN governor, Godwin Emefiele, has been arraigned by the EFCC once again. And like his previous appearances in court, Emefiele has pleaded not guilty to charges.
This time, Emefiele has been arraigned over charges of illegal printing of naira notes.
EFCC accused him of printing N684 million notes at the cost of N18.96 billion without the approval of former president Buhari.
He is also accused of illegally approving the withdrawal of about N124.8 billion from the consolidated revenue fund.
After pleading not guilty, a trial date was requested.
EFCC is working harder than the devil
The EFCC’s current arrest spree is giving “we fit arrest anybody papa”. In their recent outing, operatives EFCC arrested 13 “fake” Bureau De Change operators in Lagos. They were arrested for operating without an official licence. All the arrested suspects will be charged after investigations have been concluded.
Politics
Wike vs Fubara Part 1001
The court might have ruled in favour of Siminalayi Fubara, but the rift between Fubara and the former governor of Rivers State, Nyesom Wike, is not over.
How the fight is going:
The Former National Chairman of the PDP, Uche Secondus, accused Wike of causing political unrest in the state and receiving bribes from the NNPC during his tenure as governor.
The current governor, Fubara, is not retreating. He ordered the relocation of the Rivers State House of Assembly to the Government House in Port Harcourt after it was set on fire last year. The suspected arsonists were apprehended
On May 11 the Rivers State High Court barred the speaker of the State House of Assembly and 24 pro-Wike lawmakers from their offices for challenging the authority of the current governor accused.
After the 24 were fired, 5 other supposed pro-Wike resigned: Prof. Chinedu Mmom (Education), Dr. Gift Worlu (Housing), Austen Ben-Chioma (Environment), Inime Aguma (Social Welfare), and Jacobson Nbina (Transport)
Their reason: the work environment is “toxic and unhealthy”.
How it started:
After being elected as the governor of Rivers State, Fubara accused Wike of leaving a huge debt. This accusation seems to have started the fight.
The political unrest was also fueled by the decision of 25 lawmakers to impeach Fubara which led to the fire outbreak at the state House of Assembly to the Government House.
Fubara’s Chief of Staff, Edison Ehie said the rift was caused by “some political leaders who want to take control of the state’s resources”.
President Tinubu called for a peace pact between Wike and Fubara. His intervention changed nothing.
Elections in Ondo and Edo
The Independent National Electoral Commission (INEC) is set to begin preparations for the scheduled gubernatorial elections in Ondo and Edo states.
The INEC chairman, Prof Mahmood Yakubu, unveiled the location of various registration centres scattered around the states. He added that the commission would commence training 794 officials for the elections.
Voter Registration in these states will hold from May 27 to June 5.
The Edo and Ondo State elections are set for Sept 21 and Nov 16 respectively.
Insecurity
Abducted Confluence students rescued
The Kogi State Police Command revealed that 14 students have been rescued. The police commended the efforts of local vigilantes and security operatives in rescuing the students.
The rescued students and other injured security operatives are currently receiving medical attention. Nine students are still missing.
The Kogi State governor, Ahmed Usman Ododo speculated that the abduction was orchestrated with the help of an insider. He said, “We installed CCTV cameras in all the classrooms and the entire perimeter of the university campus yet on the day of the attack, our investigation revealed that all the cameras were switched off ”.
More kidnap cases
Over 100 people were abducted from Gora, Madomawa and Jambuzu in Zamfara's Birnin-Magaji local government area. Currently, 38 men and 67 women and children are missing, but there could be more.
The kidnappers have contacted the families of the victims telling them to pass messages across to the state governor but they have not asked for ransoms.
In a statement, the Zamfara state governor said he wouldn’t negotiate with bandits.
A week ago, bandits attacked two communities in Zamfara state and killed 30 people.
Boko Haram and ISWAP members surrender
47 members of the Boko Haram and ISWAP sect have surrendered to the Nigerian Army. The group includes 7 men, 9 women, and 31 children. They are all under investigation.
Other news
Flutterwave has lost N11 billion due to security breaches. This is the 4th incident of unauthorised transfers at Flutterwave reported in the last year - TechCabal.
Two security guards at Ajayi Crowther University have been arrested for raping a female student. The school management has said they’ll issue a “heavy penalty if the guards are found guilty after a proper investigation” - Punch.
A Nigerian man, Musa Suleman, has been arrested for engaging his three-year-old daughter in adult content on social media - Punch.
12 ride-hailing companies will begin offering health insurance - TechCabal.
Emirates Airlines to resume operations in Nigeria on October 1, 2024 - Guardian ng
The Ondo State Security Network Agency also known as Amotekun Corps arrested 45 people allegedly committing crimes like kidnapping, vandalism, theft, burglary and cultism.
Ekiti Governor, Biodun Oyebanji has approved the renovation and equipping of 11 general hospitals as a plan to improve the state of healthcare. The selected hospitals will be renovated and equipment updated within four to six months. Hospital staff payment and other allowances will be increased and more doctors recruited - Punch
ASUU is threatening to go on strike to protest the dissolution of governing councils in universities. Channels.
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