Connect with us

News

Cardoso, Edun, others appear before Reps, promise improved economy

Published

on

 

The Central Bank of Nigeria (CBN) governor Yemi Cardoso; the Minister of Finance and Coordinating Minister for the Economy, Wale Edun; as well as the Minister of Budget and National Planning, Atiku Bagudu and the Chairman of the Federal Inland Revenue Service, Zacch Adedeji were at the House of Representatives on Tuesday to speak about the state of the economy.

 

Nigeria’s inflation rate has continued to soar and the cost of living has ballooned in recent months. But at the event in Abuja on Tuesday, the economic managers projected a brighter future.

 

Edun believes the country’s economy is in a much better state than it was when President Bola Tinubu took over power in May.

 

‘Much Better Place’
“Where we are as a nation economically is a much better place than we were on the 29th of May, 2023. We have heard from the governor of the CBN. He has talked about the importance of sustainability,” Edun added.

See also  Peter Obi calls for urgent action over economic crisis

 

“Before the implementation of the 8-point agenda of the President began, we were in an unsustainable place in terms of the fiscal situation of Nigeria. We were on the road to economic disaster.”

 

Edun also reiterated the government’s promise to cushion the impacts of the fuel subsidy removal, especially for the vulnerable.

 

“Likewise, there have been other benefits that have accrued as a result of the changes that have been made,” he said.

 

“However, inflation has increased, the cost of living has spiked, and right from the onset, Mr president is committed to making sure that the poorest and the most vulnerable are not left behind. The palliatives, the interventions have been rolled out.”

‘On Right Path’

Despite the rising rate of inflation in Nigeria, Cardoso is optimistic that with the policies of the present government, there will be an improvement.

 

“Inflationary pressures are expected to decline in 2024 due to the CBN’s inflationary targeting policy aiming to rein in inflation to 21.4 per cent, aided by improved agricultural productivity and easy global supply chain pressures,” Cardoso said.

See also  I'll add value to Sanwo-Olu's administration - Bush

 

“The Nigerian foreign exchange market is currently facing increased demand pressures causing a continuous decrease in the value of naira.”

 

Also speaking at the meeting, Bagudu asked Nigerians to be patient with the Tinubu government as it is working to address the hike in the cost of living.

 

“We are very clear that we are on the right path and the challenges of the moment are being tackled,” he added.

 

On his part, the FIRS boss told the gathering that the service is taking several steps to increase Nigeria’s revenue base.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Oyo school attack: Terrorists’ four-point demand before releasing pupils, teachers

Published

on

By

The abductors of teachers and pupils from three schools in Oriire Local Government Area of Oyo State have reportedly made a four-point demand before they will free the captives.

According to media reports, the abductors, who attacked schools in Esinele, Yawota and Alawusa communities on May 15, are reportedly demanding the release of detained terrorist commanders, payment of ransom, two Hilux vehicles and the implementation of Sharia-related law,  reports.

The two commanders whose release is reportedly being sought are Mahmud Usman, also known as Abu Bara’a or Abbas Mukhtar, and his deputy, Abubakar Abba, alias Isah Adam or Mahmud Al-Nigeri, also called Mallam Mamuda.

The two terrorists are leaders of Jama’atu Ansarul Muslimeena Fii Bilaadis Sudan, JAMBS, also known as Ansaru — a breakaway faction of Boko Haram — and are alleged to have aided and abetted acts of terrorism in the country between 2013 and 2015.

See also  Six Reps dump PDP for APC

The two were arrested between May and July 2025 and are currently standing trial on terrorism charges before Justice Emeka Nwite of the Federal High Court, Abuja, in a suit marked FHC/ABJ/CR/464/2025, with their trial commencing on January 15, 2026.

Usman was sentenced to 15 years in prison by Justice Emeka Nwite of the Federal High Court, Abuja, on September 11, 2025, after pleading guilty to one count of illegal mining — which he admitted he used to fund arms procurement for terrorism and kidnapping.

He denied 31 other counts and remains in DSS custody pending trial on those charges.

His deputy, Abba, pleaded not guilty to all 32 counts and is also standing trial before the same court.

Unconfirmed reports also claimed that the terrorists are demanding a ransom put at ₦1bn, which is to be paid into a bank account in the Republic of Benin.

Security analysts have warned that releasing the commanders would pose serious risks to national security.

See also  Buhari meets Tunde Bakare in Aso Villa

Meanwhile, the Oyo State Government has declined to comment on the demands or the state of negotiations, with the Commissioner for Information, Dotun Oyelade, saying it would be “unhelpful” to disclose the government’s strategy while efforts to secure the victims’ release were ongoing.

On May 17, two days after the attack, the abductors released a video showing the beheading of one of the kidnapped teachers, Michael Oyedokun, a mathematics teacher at Community High School, Ahoro-Esinele.

Governor Seyi Makinde confirmed the killing in a statement on Monday, May 18, describing it as deeply painful.

Continue Reading

News

DSS intercepts medical supplies to treat wounded ISWAP terrorists in Borno

Published

on

By

Operatives of the Department of State Services (DSS), working with forest guards, have intercepted a consignment of medical supplies allegedly meant for fighters of the Islamic State West Africa Province (ISWAP) in Borno.

According to Zagazola Makama, a counter-insurgency publication focused on the Lake Chad region, the supplies were intercepted on Friday during a coordinated operation in Kaga LGA of the state.

Makama, citing security sources, said the operation targeted a suspected supply route used by insurgent logistics networks operating within and around forested areas in Borno.

The publication said the seized items included large quantities of pain-relief medications, anti-malaria injections, antibiotics, and other pharmaceutical products, as well as basic consumables believed to be intended for battlefield resupply.

Makama said the consignment was linked to efforts to replenish ISWAP fighters following casualties and operational setbacks suffered during recent intelligence-led operations involving Nigerian security forces and the United States Africa Command (US-Africom).

See also  Reps join Senate to ask Buhari to designate bandits as terrorists

The publication said the interception was part of ongoing efforts to disrupt insurgent logistics networks and prevent the movement of medical and material support to remote terrorist enclaves.

According to Makama, preliminary investigations indicated that the supplies were being transported in small batches to evade security patrols along forest corridors.

Makama said the materials have since been taken into custody for forensic examination, while security agencies have launched investigations to identify and apprehend those behind the shipment.

On June 1, the Nigerian military in collaboration with the US-Africom reportedly killed 21 ISWAP fighters in an air strike in Arege, Kukawa LGA of Borno.

Continue Reading

News

Good morning! Nigerian Newspapers  Headlines: Oyo abduction: Muslims reject terrorists’ demand for Sharia law

Published

on

By

1. The Muslim community in Oyo State has condemned the Sharia-related demands reportedly made by terrorists holding teachers and pupils abducted from schools in Oriire Local Government Area, declaring that the criminals do not represent Islam or Muslims.

The position came as public and private schools across Oyo State’s 33 local government areas shut down in solidarity with the abducted victims.

2. The Senate has promised to expedite action on the constitutional framework for the establishment of state police amid rising insecurity, banditry and abductions across the country. Chairman of the Senate Committee on Media and Public Affairs, Yemi Adaramodu, disclosed this in an interview with Saturday PUNCH.

3. The police in Lagos State have recorded a major success in the fight against the rising wave of violent killings and attacks by rival cult members in Ishashi, Shibiri, Ajangbadi and Ilogbo, all in the Ojo area of the state. More than ten people have been killed during attacks and reprisal attacks by rival cult groups. One of those arrested is Emmanuel, alias Oblo, chairman and one of the leaders of the Neo Black Movement, popularly known as the Aiye Confraternity.

See also  Your comparison is flawed… Argentina’s inflation rate hit 254% in January, Presidency replies Atiku

Emmanuel claimed that he was only involved in the killing of four members of rival cult groups, but his gang has been linked to the killing of more than ten people around Ajangbadi, Shibiri, Ishashi, Ilogbo and other communities

4. A middle aged house wife, Umma Bashir, has dragged her husband, Bashir Ibrahim, to Sharia Court ll at Magajin Gari, Kaduna State for renting out her bedroom without her knowledge. The complainant told the court that her husband had provided two rooms for her and her two children but decided to rent out the bedroom without her consent


5. The Ondo state Police Command has confirmed the attack on Idogun Ido-Ani community in Ose Local Government Area of the state by bandits, during which a nine-year-old boy was abducted. The incident reportedly occurred at 1:30 a.m. at Ugbosi quarters on Friday as the armed men invaded the community, firing gunshots and scaring residents

See also  Orji Kalu: Tinubu has done well in certain areas — but people are hungry

6. Oyo State Governor Seyi Makinde has restricted the operations of commercial motorcycles, popularly known as okada, between 10:30 p.m. and 5:30 p.m. across the state as part of efforts to strengthen security and combat criminal activities. The governor announced the measure on Friday while addressing the public in a video on the state’s security situation and efforts to secure the release of schoolchildren and teachers abducted from their schools in Oriire Local Government Area of the state

7. The Federal High Court sitting in Ikoyi, Lagos, has fixed June 9, 2026, to rule on the bail application of self-styled relationship therapist Blessing Nkiruka Okoro, popularly known as Blessing CEO, who is standing trial over an alleged ₦36 million property fraud.

8. Five soldiers and three members of the Civilian Joint Task Force (CJTF) were killed after troops of Operation HADIN KAI repelled a terrorist attack on a military base in Borno State. In a statement issued on Friday, the Acting Media Information Officer of Operation HADIN KAI, Lieutenant Colonel Haruna Sani, said troops of the Forward Operating Base (FOB) Mandaragirau, under the 25 Brigade of Sector 2, thwarted the attack despite heavy rainfall and poor visibility

See also  Six Reps dump PDP for APC

9. Muyiwa Adekeye, media aide to Nasir el-Rufai, has accused the Independent Corrupt Practices and Other Related Offences Commission (ICPC) of denying the former governor of access to medical care despite complaints about a worsening eye condition. In a statement issued on Friday, Adekeye said el-Rufai had complained of swollen, reddish and itchy eyes while in ICPC custody and requested to see a doctor

10. Ola Oresanya, Ogun commissioner for environment, says the recurring gas leak incidents that have affected schools in Ijebu-Ode may be linked to geological fractures beneath the town. Speaking on Friday during Morning Brief, a programme on Channels Television, Oresanya said investigations conducted by the state government indicate that the affected schools are situated along the same fault line from the earth crust.

Continue Reading

Trending News