Tag: World

  • ‘Inflation Eroding The Value Of Naira, Pushing More Nigerians Into Poverty’- Experts React To NBS Report

    Some economic experts have said that Nigeria’s rising inflation is difficult to tackle without fixing the foreign exchange crisis and epileptic power situation in the country.

    The experts who share the same view on Nigeria’s inflationary pressure said the surge in prices is eroding the purchasing power of the naira thereby dragging many Nigerians into poverty.

    The Chief Executive Officer of the Centre for the Promotion of Private Enterprises, Muda Yusuf and Professor of Capital Market, Uche Uwaleke, said this in reaction to the consumer price index report that was released by the National Bureau of Statistics on Monday.

    The NBS in its report estimated headline inflation at 26.7 per cent in September as against 25.8 per cent in August.

    Food inflation maintained its upward trend rising to 30.64 per cent in September, the NBS said.

    Yusuf however told THE WHISTLER, “It will be very difficult to tame inflation if we do not fix power, logistics and forex. Regrettably, there are no quick fixes in these areas. But it is important to prioritise these issues and drive accelerated progress with the right strategies.”

    The CPPE CEO said the persistent inflationary pressures in the Nigerian economy continue to be a major cause for concern, especially because of the acceleration effect on poverty.

    He said the effect of inflation is eroding the purchasing power of Nigerians which has continued to fall over the past few months.

    Yusuf said, “Economic growth may remain subdued while the risk of stagflation heightens. Key inflation drivers are not receding, if anything, they have become even more intense.

    “These factors include the depreciating exchange rate, surging transportation costs, logistics challenges, forex market illiquidity, astronomical hike in diesel cost, climate change, insecurity in farming communities and structural bottlenecks to production.

    “Elevated inflationary pressures also aggravate pressure on production costs, weaken profitability, erodes shareholders’ value and dampen investors’ confidence. Not many producers or service providers can transfer cost increases to their consumers.”

    Uwaleke in his comment on the matter said the trend in the inflation rate is quite worrisome considering how it is impacting the “purchasing power of the naira and by extension on poverty level.”

    He argued that inflation was partly responsible for the increasing dollarisation of the Nigerian economy and the demand pressure in the forex market.

    Uwaleke added, “In view of the supply-side factors driving inflation in Nigeria including rising cost of transport, energy, flooding and insecurity, the government must play complementary roles to that of the CBN through tackling insecurity, massive investments in power and agriculture in partnership with the private sector as well as ensuring the speedy resuscitation of the refineries in order to bring down the cost of transport as well as help naira appreciation in the forex market when an end is put to import of petroleum products.”

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  • Lagos state govt close down three establishments in Lekki and Ogba over noise pollution

    Lagos state govt close down three establishments in Lekki and Ogba over noise pollution

    The Lagos state government have shut down three establishments in the Lekki and Ogba areas of the state over noise pollution. 

     

    The state Commissioner of Environment and Water Resources disclosed this via his X handle.

     

    See his post and photos of the businesses closed down below…

     

    Lagos state govt close down three establishments in Lekki and Ogba over noise pollution
    Lagos state govt close down three establishments in Lekki and Ogba over noise pollution
    Lagos state govt close down three establishments in Lekki and Ogba over noise pollution
    Lagos state govt close down three establishments in Lekki and Ogba over noise pollution

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  • Nigerian govt approves committees on industrial roadmap, FTZs

    The Federal Executive Council (FEC) has approved the establishment of two committees on industrial roadmap and review of the Free Trade Zones (FTZs) in the country.

    The Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite disclosed this to State House correspondents at the end of the FEC meeting presided over by President Bola Tinubu on Monday in Abuja.

    She said the committees to be headed by President Tinubu would have various sub-committees to harmonise the activities of the ministry with that of other ministries and agencies relevant to it.

    The committees, according to Uzoka-Anite, will come up with a roadmap toward the full revival of the economy in line with the president’s eight-point agenda.

    The minister said the sub-committees would include that of consumer credit, commodity exchange, heavy industries, steel development, and licensing and certification of artisans.

    Others are trade facilitation and liberalisation, mining and solid minerals, oil and gas as well as the creative industry.

    She said: ‘’The committee will harmonise activities of the ministry with other ministries and agencies toward a roadmap for a full industrial revival of the economy in line with the eight-point agenda of the president.

    ‘’We expected a boost in investment in the industrial sector, job creation, GDP growth rate from 3.5 percent to about 7 percent, and a GDP base of about N1 trillion in line with Mr. President’s mission.”

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  • FEC approves committees for industrial revitalisation, free trade zones

    The Federal Executive Council (FEC) has approved the formation of two committees on industrial revitalisation roadmap and review of free trade zones in the country, with the aim of improving the nation’s economy.

    The minister of industry, trade, and investment, Doris Uzoka-Anite, disclosed this at the end of the second FEC meeting on Monday in Abuja.

    She explained that these committees, chaired by President Bola Tinubu, would have various sub-committees tasked with harmonising the activities of the ministry with those of other relevant ministries and agencies.

    Mrs Uzoka-Anite further clarified that these sub-committees would develop a roadmap for the full revival of the economy, aligning with Mr Tinubu’s eight-point agenda.

    The sub-committees will encompass various aspects, including consumer credit, commodity exchange, heavy industries, steel development, and the licensing and certification of artisans.

    Other sub-committees will focus on trade facilitation and liberalisation, mining and solid minerals, oil and gas, as well as the creative industry.

    ‘’The committee will harmonise activities of the ministry with other ministries and agencies toward a roadmap for a full industrial revival of the economy in line with the 8-point agenda of the president.

    ‘’We expected a boost in investment in the industrial sector, job creation, GDP growth rate from 3.5 per cent to about 7 per cent, and a GDP base of about N1 trillion in line with Mr president’s mission,’’ Mrs Uzoka-Anite said.

    She also mentioned that the committee responsible for the free trade zones would be tasked with charting a way forward for these zones, aiming to create opportunities for Nigerians to take advantage of.

    “The Council also approved the setting up of a committee to review the free trade zone, to look at its incentive and the laws and reforms and come up with reform that will help to stimulate and catalyse the economic benefits of the free trade zones and the economic special zones for the benefit of Nigerians and other investors,” she said.

    (NAN)

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  • Coast Guard puts 2 new environmental focused units on Oahu

    The Coast Guard is expanding its engagement in the Pacific and beyond to tackle illegal fishing and respond to environmental disasters.

    The Coast Guard is expanding its engagement in the Pacific and beyond to tackle illegal fishing and respond to environmental disasters.

    Its new Indo-Pacific Marine Environmental Response Regional Activity Center and the Illegal Unreported and Unregulated Fishing Center of Expertise will be key in the battle as the Coast Guard plays an increasingly prominent role in American geopolitical strategy. In the White House’s 2022 Indo-Pacific Strategy, it is the only military service specifically named, calling for bolstering its presence and working more with other countries.

    At the ribbon-cutting on Wednesday for the new centers on Ford Island, Vice Adm. Andrew Tiongson, the California-based commander for Coast Guard Pacific Area, told Coast Guardsmen that his task is nothing new to their service, “but today there is greater demand for your Coast Guard than ever before … (these new units ) strategically positioned here in Hawaii will fulfill exactly what the Indo-Pacific strategy directs.”

    Tiongson told the Honolulu Star-Advertiser that opening the new offices made him think about the recent sinking of the oil tanker MT Princess Empress in February that spilled 260, 000 gallons of industrial fuel in the Philippines.

    The disaster response brought in ships from American, Japanese and South Korean coast guards along with experts from all three countries to help Philippine authorities clean up the toxic mess. He said that in situations like that, gathering the right team of experts is critical.

    “We do that now, but we do that on an ad-hoc basis, ” said Tiongson. “Now we’re talking about having a dedicated force that talks about that, can do that, or can direct to the right people to have that done … you have a venue to do those kinds of things and the people and the expertise that are here.”

    He said placing them in the middle of the Pacific in Hawaii was no afterthought. The Coast Guard envisions bringing together experts from across the U.S. as well as countries around the world to the new centers on Ford Island, which operate out of the National Oceanic and Atmospheric Administration’s Daniel K. Inouye Regional Center.

    “A lot of our partners have some great methods on how they do things, (so let’s ) see and learn from each other so that we can be better together at maritime governance, ” said Tiongson.

    The ocean plays a central role in the modern global economy ; the majority of international trade travels on merchant vessels hauling everything from food and fertilizer to oil and gas.

    But the ocean is also an infamously lawless place. Transnational criminal groups regularly take to the sea to move black market goods and evade the law. And in both coastal and international waters, many ostensibly legitimate enterprises regularly flout safety, labor and environmental regulations—often at catastrophic risk to both human and ocean life.

    Today environmental concerns are increasingly becoming national security concerns. Threats from climate change have many Pacific Island nations worried about their survival. Tiongson said that “small low-lying islands, they’re worried about sea level rise, they’re worried about droughts, they’re getting pummeled by increasing typhoons.”

    Indo-Pacific Marine Environmental Response Regional Activity Center, or “the RAC, ” as coasties have begun calling it, is aimed at tackling both natural and man-made disasters.

    Rear Adm. Jo-Ann Burdian, the Coast Guard’s Assistant Commandant for Response Policy in Washington, D.C., who played a key role in getting the two new units established in Hawaii, said that the RAC can help “understand the needs of partners and help build capacity to respond to oil spills as we increase human activity on water.”

    As for the Illegal Unreported and Unregulated Fishing Center of Expertise, Tiongson said he hopes it “will act as the international engagement center for combating IUU fishing throughout the world.”

    In 2020 the Coast Guard declared that IUU fishing had surpassed piracy as the greatest global security threat on the high seas. The service warned that rampant overfishing has already caused environmental and economic devastation to some coastal communities that depend on fishing for food and employment.

    An estimated 80 % of the world’s fish stocks are nearly depleted. Competition over dwindling fish stocks around the world has led to violence at sea between fishermen that has at times escalated to diplomatic spats.

    Disputes over fishing rights in the South China Sea, once one of the world’s most plentiful fisheries, has become especially fierce. China, which has the world’s largest fishing fleet, has been accused of using a mix of its naval forces and “maritime militias ” to stake out disputed fishing grounds and force out fishermen from the Philippines and Vietnam—sometimes violently.

    As East Asian countries grow in population, seafood is often a critical source of protein, especially in coastal communities. But as fishermen find it harder to fish at home, many are traveling farther and joining “distance fishing fleets ” around the globe.

    This hasn’t gone unnoticed off Hawaii’s shores, where in recent years some Hawaii fishermen have reported an increase in sightings of foreign industrial vessels around the islands and occasional aggressive interactions.

    In March 2020 the Western Pacific Regional Fishery Management Council in Hono ­lulu sent a letter to the U.S. State Department after a violent encounter between a Taiwanese vessel and a Honolulu longliner, demanding officials “follow up on complaints of assault by foreign fishing vessels on the Hawaii-based U.S. longline fishery and take appropriate diplomatic actions.”

    But while the sea can be a lawless and sometimes dangerous place, it’s also not without its own code.

    In March, when Honolulu-based fishing longliner Sea Smile sank 545 miles southwest of Hawaii at night, Taiwanese fishing vessel Ying Rong No. 638 heeded a request for help from the Coast Guard to aid the crew. By midnight the Taiwanese vessel had successfully found and rescued all six of the Honolulu crew.

    “All of us rely upon the ocean for our prosperity, for our security, ” said Burdian. “What we owe in return is this work to build the resilience of our oceans, to defend this domain that gives us so, so much.”

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    (c) 2023 The Honolulu Star-Advertiser

    Distributed by Tribune Content Agency, LLC.



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  • Abia Govt Denies Asking Northerners To Vacate Cattle Market

    Alex-Otti

    The Abia State Government has denied the reports that it asked the northern community at Lokpanta, in Umunneochi local government area to move back to the north.

    The Special Adviser to Governor Alex Otti, on Security, Retired Navy Commander MacDonald Uba, who disclosed this to newsmen in Umuahia, said the report is untrue and should be disregarded.

    Uba also stated that the government has taken steps to stop the spate of kidnapping in the area with the launch of Operation Crush.

    He regretted that market dealers at Lokpanta have allowed criminals to take over the market, while the market served as a venue for exchanging kidnap ransom.

    The Security Adviser said everything is being done to ensure safety adding that he was happy that no incident of kidnapping has taken place around the area in the past six weeks.

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  • 7 year old boy mauled by pitbull dog as he played with his friends at park after school

    7 year old boy mauled by pitbull dog as he played with his friends at park after school

    A 7-year-old boy was mauled twice by the same pitbull dog as he played with his friends after school.

    Reece Munro was in a playground with friends and his mum Cheryl on October 12 when a dog attacked him in Edinburgh, UK.

    Cheryl speaking to the Edinburgh Reporter revealed her son has been left with “scarring wounds” following the horror attack.

    “This is a big scary looking dog and it is quite old as well. People in the area have told me they are aware of the dog.

    “We have lived here for 13 years and nothing like this has happened before.

    “Now I don’t even feel safe allowing my boys into our garden, but I really don’t want them to be frightened after this.”

    She revealed how Reece had spotted the dog’s owner entering the park on a lead, but he and his friends began running after the dog started chasing them.

    Cheryl said the dog hit her young son, before he fell to the ground.

    An investigation has been opened into the dog attack.

     

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  • Group claims bandits killed 14, abducted 27 women in Southern Kaduna

    Gunmen suspected to be bandits have reportedly killed 14 people and abducted 27 women in southern Kaduna.

    The National Women Coordinator of the Southern Kaduna Peoples Union (SOKAPU), Mrs. Jemutu Katarma, said in a statement on Monday that four children were also abducted by the hoodlums during the attack.

    She added that the victims who were abducted on October 2 have not returned home.

    The SOKAPU official urged the state and federal governments to rescue the victims unhurt.

    Katarma lamented that the bandits have sacked hundreds of villages in southern Kaduna and rendered thousands homeless in the area.

    The statement read: “After closely observing the policies, words, and actions of Governor Uba Sani since he came to power in May 2023, we have good reasons to believe that he has come to restore hope, confidence, and unity to the state. We also see him working with the Federal Government in helping to solve the serious challenge of the security of lives and property of citizens of Kaduna State.

    “It is based on this belief that we are encouraged to use this medium to send him an SoS message on very disturbing security matters, part of which he inherited, and to plead for his urgent intervention.

    “As you may all be aware by now, Southern Kaduna is made up of the eight Local Government Areas of Kaduna South senatorial zone, plus Lere LGA in Kaduna North senatorial zone including Kajuru and Chikun LGAs in Kaduna Central senatorial zone.

    “The Southern Kaduna women explained that out of these 12 LGAs of Southern Kaduna, only about three have not suffered violence and crimes from armed groups, especially bandits and armed herdsmen, as thousands have been killed, houses burnt and hundreds have been kidnapped.

    “Hundreds of our villages have been sacked and some taken over by bandits. Even the immediate past government of the state has been reporting these atrocities to the press every quarter of each year. Our people, especially women and children in their thousands are rendered as IDPs. It is usually women and children who suffer the most during such displacements.

    “Of particular note, we want to bring to the attention of His Excellency, Gov Uba Sani about a terrible development that happened to his citizens on 2nd October 2023 in Kachuwe, close to Sarkin Pawa in Niger State. After their villages suffered several invasions from bandits in Chikun, they decided to move to Kachuwe which they thought was safer to start life all over again by farming.

    “Unfortunately, armed bandits stormed the village on 2nd October 2023 and killed 13 male adults and a young girl. Among those killed is a grandfather (1) Baba Barda Kariya. The names of the rest are (2) Ali Nariya, (3) Zakariya Nariya (4) Markus Nariya, (5) John Nariya, and (6) Haruna Nariya.Others are (7) Iko Ali, (8) Vincent Ali, (9) Amos Zakariya, (10) Habila Zakariya, (11) Smalis Markus, (12) Timothy John (13) Victor Markus, and (14) Godiya Markus, the only female killed.

    “After committing the crime, they looted the village of foodstuffs and animals. They then burnt down the village. They spared the lives of the old women and sick old men. Then they took away the following females and boys.

    “Grace Ali (25), Kauna Ali (22), Murna Ali (18), Tera Ali (3), Rahila Shagari (18), Sunday Zakaria (17), Leonard Zakaria (10), Lucy Zakaria (11), Blessing Zakaria (13), Charles Haruna (10), Tina Amos (27), Desire Amos (7), Success Amos (3) and Yemi Benjamin (27).”

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  • Nigerian government accuses UN of stealing donations, threatens lawsuit

    She stressed that the report must be submitted between October 16 and November 15 in order to avoid legal repercussions.

    The post Nigerian government accuses UN of stealing donations, threatens lawsuit appeared first on Peoples Gazette.

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  • Blinken to visit Israel again as Lebanon border clashes heat up

    U.S. Secretary of State Antony Blinken will make an unscheduled return to Israel on Monday following talks with Arab officials, as increasing attacks from Iran-backed Hezbollah open up a second front on Israel’s northern border.

    Separately, the U.S. said it has held back-channel talks with Iran, with which it has no formal diplomatic relations, to warn Tehran against escalating the conflict in Israel.

    In the most intense crossfire between Israel and Hezbollah in days, the latter said it attacked Israeli military posts near the border with Lebanon on three different occasions on Sunday.

    The Middle East’s most powerful militia said it fired guided missiles and used shells and live ammunition in its attacks, which included an army base. Israel Defense Forces said nine rockets were fired from Lebanon into Israel including five that were intercepted.

    The increased attacks came as Iran’s Foreign Minister Hossein Amirabdollahian warned that “no one can guarantee control over the situation and prevent the conflict from spreading” if Israel continues its offensive on the Gaza Strip.

    Amirabdollahian met with Qatar’s ruler in Doha after holding talks with Hezbollah’s leader Hasan Nasrallah in Beirut last week.

    Iranian President Ebrahim Raisi delivered a similar message to French President Emmanuel Macron in a call on Sunday, warning that if the siege of Gaza doesn’t stop, “the scene will expand.”

    Israel has said it’s preparing for a ground invasion in Gaza to “wipe out” Hamas, the Palestinian militant group that rules the Gaza Strip and was behind the Oct. 7 attack on the Jewish state. Hamas militants infiltrated Israel via land, sea and air in an unprecedented operation that killed over 1,200 people.

    Israel has since pounded Gaza, killing more than 2,300 people and injuring thousands more, according to local officials. It has asked 1.1 million residents in the northern sector of Gaza to move south for their own safety, an evacuation deemed by the U.N. as “impossible.”

    Blinken, who held meetings in Tel Aviv on Thursday as part of a hectic trip across the region, will touch down again for several hours on Monday before returning to Washington, State Department spokesman Matthew Miller told reporters.

    It will cap a frantic diplomatic sprint as Blinken crisscrossed the Middle East with stops in Jordan, Bahrain, Qatar, Egypt, Saudi Arabia and the United Arab Emirates. Blinken met in Riyadh on Sunday with Saudi Crown Prince Mohammed bin Salman.

    The U.S. is urging its Arab partners to put pressure on Hamas and prevent Iran-backed militant groups such as Lebanon-based Hezbollah from getting involved in the conflict.

    Iran supplies Hamas with funds and training but has denied involvement in the Oct. 7 operation. It’s also Hezbollah’s main backer.

    Cross-Border Attacks

    Hezbollah’s initial attack on an army post in Shtula in Upper Galilee on Sunday killed one Israeli and wounded three others Sunday, according to Israel’s rescue service. The skirmishes are continuing.

    The group said the attacks were in retaliation for the killing of two Lebanese nationals in Shebaa Farms and a Reuters reporter near the southern village of Alma Al-Shaab last week. Shebaa Farms is land claimed by both Lebanon and Syria that Israel captured from Syria in the 1967 Middle East war.

    Hezbollah’s Al-Manar television channel showed footage of a hilltop it described as the Al-Raheb post, saying fighters had raised the group’s flag. There was no confirmation from the Israeli side that the post had been taken by Hezbollah members.

    Other footage showed a funeral for one of three Hezbollah fighters killed last week by Israeli fire; hundreds flocked to the western part of the Bekaa region, with some wearing military fatigues and others raising the Palestinian and Hezbollah flags.

    Hezbollah fought a month-long war with Israel in 2006 and its fighters have since seen extensive ground combat in Syria, where they fought on the side of President Bashar al-Assad. It is known to have an arsenal of missiles that can reach deep into Israel.

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    © 2023 Bloomberg L.P

    Distributed by Tribune Content Agency, LLC.



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