General News
Economic hardship:FG Re-assures Of Drop In Inflation In 2025
By George Mgbeleke
The Minister of Finance and Coordinating Minister of the Economy, Mr. Olawale Edun, has re-assured Nigerians that the high inflation rate in the nation will be reduce by at least 15 percent in 2025.
Nigeria’s inflation rate rose for the fourth straight month in December, 2024 advancing to 34.80% in annual terms from 34.60% in November, in the data from the statistics agency showed last week.
Speaking while addressing the Senate Committee on Finance on 2025 Budget defense, on Monday in Abuja, Mr. Edun expressed optimism that the 2025 budget estimates of N47.9 trillion, particularly with regards to the revenue will be achieved with expected strong economy.
He said reducing inflation, though was a key responsibility for monetary policy championed by the Central Bank of Nigeria.(CBN) is achievable.
“Central Bank of Nigeria is indicating a 15 per cent inflation rate by the end of 2025, it is achievable, we are working hard towards it,we look forward to achieving it.
“And it is their signaling of where inflation is expected to lie that has given us this interest rate,however, we all have a role to play.
“Even if monetary policy helps to try to bring down inflation,however, on the fiscal side, it is important that we contribute to lower inflation, not just by really squeezing demand, but by increasing supply.
“Increasing supply of food is one of the major commitments that is already laid out,we are having a dry season harvest now, and we have mobilised 250,000 farmers to be able to produce 750,000 metric pounds of assorted grains from the dry season farming”.
Mr. Edun also said that under President Bola Tinubu, the country’s economy is growing positively as the budget deficit as percentage to Gross Domestic Product, GDP, is falling while debt service ratio as percentage to revenue is improving.
“After eighteen to twenty months, under the able and visionary leadership of President Bola Tinubu, we have been inspired as a nation to re-determination forbearance arrive st the situation where the economy is very much turning the corner, it is growing. The budget deficit as percentage to Gross Domestic Product, GDP, is falling while debt service ratio as percentage to revenue is improving”
In his opening remarks, the Chairman Senate Committee on Finance, Senator Sani Musa urged Ministries, Departments and Agencies (MDAs) to present a budget that is realistic, implementable, focused and tailored towards attainment of measurable outcomes.
Senator Musa said the MDAs budget should have a clear purpose and translate to tangible benefits for the populace on implementation.
He said the it was the responsibility of the legislature to ensure efficient and transparent allocation of government resources to drive development and needs of the people, adding that ministry of finance plays a foundational role in shaping economic policies and fiscal strategies.
“The impact of this action will be released across all sectors, and as such, this budget must reflect prudence, accountability, and alignment with the priority of the people.
“We understand the challenges you face in balancing the demands of your mandate with available resources.
“However, as custodians of the public costs, it is our collective responsibility to ensure that every one contributes meaningfully to our shared goals.
“This session is an opportunity for MDAs to address the challenges they face supported by clear data and justifiable expenditures, this process is not adversarial but collaborative as we all share the common goal of advancing the economic well-being of our country,”Musa said.
Present at the session were the Accountant General of the Federation Dr. Oluwatoyin Madein and Chairman, Fiscal Responsibility Commission (FRC),Mr Victor Muruako,
President Bola Ahmed Tinubu last year presented a N49.7 trillion budget proposal for the 2025 fiscal year, projecting inflation which has been soaring to drop to 15 percent in the 2025 proposal.
General News
OBYC Worldwide fault Ineife led IYC over planned protest against Bayelsà Industrialist. ….urges IYC to respect for Court Process
By David Owei,Bayelsa
The Ogbia Brotherhood Youth Council (OBYC) Worldwide has condemned the planned protest over the legal dispute involving Azikel Group President, Dr. Azibapu Godbless Eruani, CFR, and Mr. Kariyai Daukoru, describing the action as unnecessary while the matter remains before a competent court.
OBYC, in a statement issued on Saturday and made available to newsmen, urged Ijaw Youth Council (IYC) Central Zone Chairman, Comrade Peres Ineife, to suspend the proposed protest and allow the judicial process to run its course.
It also appealed to the newly elected IYC Worldwide President, Dr. Doubra Collins Okotete, to promote dialogue and reconciliation among the parties involved in the Aviation Training initiative.
OBYC maintained that Dr. Eruani’s aviation training initiative was a philanthropic programme designed to empower Bayelsa youths and rejected allegations that he intended to victimise anyone.
The Council further called on Ijaw youths, political leaders and stakeholders to exercise restraint, respect the rule of law, and avoid actions capable of undermining the judiciary or disrupting peace.
General News
OBYC Worldwide fault Ineife led IYC over planned protest against Bayelsà Industrialist. ….urges IYC to respect for Court Process The Ogbia Brotherhood Youth Council (OBYC) Worldwide has condemned the planned protest over the legal dispute involving Azikel Group President, Dr. Azibapu Godbless Eruani, CFR, and Mr. Kariyai Daukoru, describing the action as unnecessary while the matter remains before a competent court. OBYC, in a statement issued on Saturday and made available to newsmen, urged Ijaw Youth Council (IYC) Central Zone Chairman, Comrade Peres Ineife, to suspend the proposed protest and allow the judicial process to run its course. It also appealed to the newly elected IYC Worldwide President, Dr. Doubra Collins Okotete, to promote dialogue and reconciliation among the parties involved in the Aviation Training initiative. OBYC maintained that Dr. Eruani’s aviation training initiative was a philanthropic programme designed to empower Bayelsa youths and rejected allegations that he intended to victimise anyone. The Council further called on Ijaw youths, political leaders and stakeholders to exercise restraint, respect the rule of law, and avoid actions capable of undermining the judiciary or disrupting peace.
By David Owei,Bayelsa
The Ogbia Brotherhood Youth Council (OBYC) Worldwide has condemned the planned protest over the legal dispute involving Azikel Group President, Dr. Azibapu Godbless Eruani, CFR, and Mr. Kariyai Daukoru, describing the action as unnecessary while the matter remains before a competent court.
OBYC, in a statement issued on Saturday and made available to newsmen, urged Ijaw Youth Council (IYC) Central Zone Chairman, Comrade Peres Ineife, to suspend the proposed protest and allow the judicial process to run its course.
It also appealed to the newly elected IYC Worldwide President, Dr. Doubra Collins Okotete, to promote dialogue and reconciliation among the parties involved in the Aviation Training initiative.
OBYC maintained that Dr. Eruani’s aviation training initiative was a philanthropic programme designed to empower Bayelsa youths and rejected allegations that he intended to victimise anyone.
The Council further called on Ijaw youths, political leaders and stakeholders to exercise restraint, respect the rule of law, and avoid actions capable of undermining the judiciary or disrupting peace.
General News
Two Fishermen Feared Dead ln Bayelsa Ocean
By David Owei,Bayelsa
Two fishermen have been declared missing after their boat capsized off the coast of Opu-Okumbiri in Brass Local Government Area of Bayelsa State.
It was gathered that the missing fishermen were identified as Elder Sunday Sample Timothy and his assistant, Mr. Avarada.
According to a source, Chief Saturday Akimi-Omunhuo, a community leader, the two men left for a fishing expedition at about 1:00 a.m. on Friday when the outboard engine of their fishing boat reportedly developed a fault while they were far out at sea.
Chief Akimi-Omunhuo said a rescue boat towed the disabled vessel toward the continental shelf and the Atlantic coastline. However, as they approached the shore, strong waves reportedly capsized the faulty boat, throwing the two fishermen into the water.
He narrated that the rescue boat and those aboard reached the shore safely, but the two fishermen have remained missing.
Community members were said to immediately launch a search operation along the coastline and surrounding waters. The search team later recovered the fishermen’s fishing gear, but there was no sign of the missing men as of the time of filing this report.
Chief Akimi-Omunhuo described the incident as tragic, noting that similar accidents have occurred over the years in the coastal communities.
He appealed to the Brass Local Government Council, the Bayelsa State Government, the Federal Government and relevant stakeholders to provide improved safety equipment, weather monitoring systems and other support for fishing communities whose livelihoods depend on the sea.
“Our people depend on fishing for survival. We need better safety measures to reduce the loss of lives on our waterways,” he said.
Search efforts for the two missing fishermen were still ongoing at the time of this report.
Authorities were yet to issue an official statement on the incident.
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