Nation
We’ll Wrestle Food Inflation From Next Year, Buhari Boasts
President Muhammadu Buhari, yesterday, assured that the government would work hard towards ensuring that the country has enough food to feed its citizenry.
To that effect, the President said that the administration will keep a keen eye on food inflation in the New Year and reiterated his initial directive to the Central Bank of Nigeria (CBN), not to give any money for food importation.
Buhari stated this at the fifth regular meeting with the Presidential Economic Advisory Council held at the Presidential Villa, Abuja, yesterday.
For the umpteenth time, he directed that the CBN “must not give money to import food. Already about seven states are producing all the rice we need. We must eat what we produce.”
In taking note of the strides made in agricultural production following the program of diversification from over reliance on oil instituted by his administration, Buhari wondered where the country would have found itself by now in view of the devastating economic crisis brought about by Covid-19 if the country had not embraced agriculture.
Buhari, in a statement issued by his Senior Special Assistant on Media and Publicity, Mallam Garba Shehu said, “Going back to the land is the way out. We depend on petrol at the expense of agriculture. Now the oil industry is in turmoil. We are being squeezed to produce at 1.5 million barrels a day as against a capacity to produce 2.3 million.
“At the same time, the technical cost of our production per barrel is high, compared to the Middle East production.”
He emphasized the place of agriculture in the efforts to restore the economy but agreed that measures must be put in place to curtail inflation in the country.
He said, “We will continue to encourage our people to go back to the land. Our elite is indoctrinated in the idea that we are rich in oil, leaving the land for the city for oil riches. We are back to the land now. We must not lose the opportunity to make life easier for our people. Imagine what would have happened if we didn’t encourage agriculture and closed the borders. We would have been in trouble.”
The meeting, which was for a review of, and reflections on the global and domestic economy in the outgoing year, was attended by Vice President Yemi Osinbajo, as well as Ministers of Finance and Humanitarian Affairs and agreed on a number of measures.
The statement further said, “In specific terms, it noted the sharp deterioration in international economic environment and its impact on Nigeria’s continuing but fragile economic recovery; that Nigeria’s economic growth continues to be constrained by obvious challenges including infrastructural deficiencies and limited resources for government financing.
“It emphasized the need to make the private sector of the economy the primary source of investment, rather than government.
“The meeting reviewed progress towards structural reforms in response to the economic crises, including the institution of the Economic Sustainability Plan, the changes in electricity tariff and fuel pricing regime, the partial re-opening of the Land Borders, the movement towards unification of exchange rates and budgetary reforms through Finance Bill 2020 and 2021.
“It agreed that, to prepare the country for the challenges ahead, it is imperative to ensure Macro-economic stability, create certainty and re-build investor confidence in the economy.”
It emphasized the need to deepen structural reforms initiated by the administration as a basis for stimulating investments from domestic and international sources with a view to raising productivity in key sectors of the economy.”
The Chairman of Malumfashi Local Government Council of Katsina State, Maharazu Dayi, has been impeached.
Maharazu Dayi was impeached yesterday by 11 out of 12 councillors, barely two days before the local government elections in the State.
The councillors reportedly took action following allegations of misconduct and poor governance against the chairman after a dispute over the distribution of the council’s Paris Club funds.
The development has sent shock waves across the local government area, especially as the impeached chairman is among those who failed to secure the ticket of the All Progressives Congress (APC) to contest in the forthcoming election.
The Rumuwoji Ultra Modern Market Traders Association, Mile 1, Port Harcourt, has urged the state government to utilise the available spaces within the area to build phase 3 of the Rumuwoji Market in order to solve the ever increasing needs of traders.
The association, which said this at a media briefing in Port Harcourt, also described as a welcomed development the decision by the state Governor to open the phase 2 of the market for business.
According to the association, “We consider it as an answer to the various cries of the people, because he is a man on a mission who is out to place the interest of Rivers people first. It is a dream come true for the first time for the market to be dully allocated and open for business”
Chairman of the association, Hon Godspower Wobo, who briefed the press shortly after a meeting of the association in Port Harcourt, also urged the public to disregard the activities of some persons whose stock in trade is to cause disaffection in the market.
He said the attention of the association was drawn to the activities of some strange fellows who went about misforming the people about situation in the market, stressing that apart from his association, no other group exists in the market except subdiary unions.
Wobo also tasked the reallocation committee to tread with caution so as to avoid being deceived by any group.
According to him, time has come for the state government to engage in robust discussion with aggrieved shop owners who went to court and those who paid monies to the state coffers and issued with allocation certificates for the overall interest of peace.
He also advised the public to deal directly with his association, stressing that the meeting was to review activities for the last year as well as unveil their new Constitution.
Also speaking, former Chairman of the association, Deacon Kenneth Eze urged the Rivers State Governor, Sir Siminalayi Fubara to open the phase 2 of the market, as it is long overdue.
Eze who is the Chairman of the Board of Trustees of the association also urged the public to do business with only the Rumuwoji Ultra Modern Market Traders Association as it is the only union recognised by the traders.
The President of the African Development Bank (AfDB), Akinwunmi Adesina, has debunked reports linking him with the race for Nigeria’s presidency in 2027.
Reacting to the report on his X handle yesterday, following a recent interview with Arise TV, the AfDB boss said his quotes were misrepresented and misinterpreted in several Nigerian media reports.
However, the AfDB president denied the media reports, stating that he never said that he wanted to contest for President.
“A segment of my recent interview on @Arise TV has been both misinterpreted and misrepresented in several Nigerian media outlets. What I said was, “I will be available to serve in any capacity, globally, in Africa, anywhere, including my own country.”
“A listen to the substantive and robust interview, which is available online, will show this to be the case. For clarity and for the record, I did not say that I am running for the office of President of Nigeria,” Adesina said.