NAN Governor Samuel Ortom of Benue says the state does not own any militia group. Ortom was reacting to rumour making the rounds in some quarters in the country that the state government owned a militia group. The governor spoke on Thursday, January 18, in Makurdi, when the Benue Youth Prayer Group and National Union…
An economist, Prof. Sarah Anyanwu has advised the Federal Government to take into focus the country’s hyperinflation in the implementation of the 2017 budget.
Hyperinflation occurs when a country experiences very high and usually accelerating rates of inflation.
Anyanwu, a former Head of Economics Department, University of Abuja, said this in an interview with the News Agency of Nigeria (NAN) in Abuja on Monday.
She said considering the current inflation rate in the planning stage would ensure successful implementation of the budget.
The key assumption on inflation in the budget is 15.74 per cent while the latest inflation is 16.25 per cent.
“If actually the government has taken care of inflation during the budget formulation, it will not affect implementation.
“If the amount budgeted for Ministries Departments and Agencies (MDAs) was not taken care of during budget formulation and approval, it will definitely affect the implementation.
“What it means is that the amount released will not be enough for project implementation and there will always be budget deficit.
“There will be budget deficit since prices of material have gone up subsequently leading to incomplete and abandoned projects.’’
According to her, the government may need to prepare supplementary budget to take care of high level of inflation.
Speaking on the latest inflation rate, the don said that the figures were still on the high side in spite of efforts of the government to bring it down.
According to the National Bureau of Statistics (NBS), the country’s inflation dropped to 16.25 per cent in May from 17.24 per cent in April.
This is the fourth consecutive decline in the rate of inflation since January.
Anyanwu explained that the Consumer Price Index (CPI) only dropped on month-on-month basis, saying it rose on year-on-year basis.
“The inflation is still very high; we appreciate the efforts of the government to lower this inflation rate because it has a lot of implications.
“It has a lot of implication on micro economic variables, especially on investment, interest, exchange rates and Gross Domestic Product at large.
“The decrease is still very small, we need to put in place more efforts with the type of hyperinflation happening in the country which discourages investment.
“The government needs to bring the inflation to three or four per cent,’’ she said. (NAN)
— 18th January 2018
NAN Oladeji Adeoye, President of Nigeria Shooting Federation (NSF), on Thursday, January 18, in Abuja said the Federation was in need of about N10 million to host a world shooting sport programme. Adeoye, a retired brigadier-general in the Nigerian Army, told the News Agency of Nigeria (NAN) the financial support was needed from governments and…
— 18th January 2018
Ali Abare, Gombe The Gombe Zonal office of the Economic and Financial Crimes Commission (EFCC) said it has uncovered three properties alleged to have been built from crime as part of money diverted from the 2015 campaign funds. Newly posted zonal controller for the commission, Johnson Babalola, disclosed this to journalists, in Gombe, on Thursday….
— 18th January 2018
Paul Osuyi, Asaba A total of 2,457 members of the National Youth Service Corps (NYSC), on Thursday, took their oath of allegiance to serve their fatherland for the mandatory one year national service. They were posted to Delta and Edo states under the Batch ‘A’ Stream II service year, and were sworn in at the…
— 18th January 2018
Noah Ebije, Kaduna The Nigeria Union of Teachers (NUT), Kaduna State chapter, has called off the indefinite strike action embarked upon in all the state public schools. The strike had lasted for almost two weeks. NUT Chairman in the state, Comrade Audu T. Amba disclosed this, on Thursday, shortly after an emergency meeting of the…
Entertainment— 18th January 2018
InTouch Allegations of an affair between President Donald Trump and Stormy Daniels recently resurfaced after a Wall Street Journal article reported that the porn star was paid a reported $130,000 to stay silent. While Stormy adamantly denied that anything happened in a letter released by Trump’s lawyer on Jan. 10, In Touch has an explosive first-person interview with the adult entertainer that was conducted…
South-West Report— 18th January 2018
Jubilations as 400 renounce militancy, surrender weapons in Ondo The amnesty programme of the Ondo State Government has started yielding positive results as restive youths in the coastal part of the state are surrendering their arms. The programme was said to be a follow up to the Federal Government’s programme organised for militants in the…
Abuja Metro— 17th January 2018
…Says no alternative to food security By Magnus Eze As the nation grapples with the perennial issue of herders-farmers’ clashes, the Chief of Army Staff (COAS), Lt-Gen. Tukur Buratai, has said government’s efforts at achieving national security, including the fight against insurgency in the North-East, would be meaningless without food security. To this end, he…
Oriental News— 17th January 2018
• As Eze Idigo marks 188th Ovala festival From Geoffrey Anyanwu, Awka Since the November 18, 2017, governorship election in Anambra State, the people of Aguleri have been deliberating on how best to honour their own, Governor Willie Obiano. They have been looking for a way to ventilate their joy. Therefore, it was a day…
Features— 18th January 2018
•For N25, you can pick a bride •Only men can ask for divorce From Paul Osuyi, Asaba In Benin culture and tradition, marriage rites are held in very high esteem. According to Benin tradition, the family is the bedrock of any community hence the norms and values imbibed at the family level go a long…
Literary Review— 13th January 2018
With 141 books published so far, Reverend Chris Christian is probably Nigeria’s most prolific author. With specialty in Christian literature, his aim is to break barriers and get many of his books to the international audience. He is gradually succeeding in this regard. A preacher of the gospel, he is famed for taking the Vow…
Lifeline— 18th January 2018
… As millions take over Mgbidi for Lord’s Chosen crusade By Gilbert Ekezie This year’s edition of the annual international crusade organised by the Lord’s Chosen Charismatic Revival Ministries at Mgbidi, a sleepy town in Oru West Local Government Area of Imo State, recently came to a close. And not a few participants from across…
Education Review— 16th January 2018
From LAYI OLANREWAJU, Ilorin PROF. IS-HAQ Oloyede, the Joint Admissions and Matriculation Board (JAMB) Registrar, in this piece gave hints on how far JAMB has gone on knotty issues of admission into Nigerian higher institutions, the challenges and the way forward. He also explained the new 2018 registration system, why JAMB introduced that innovation as a…
Marketing Matters— 30th November 2016
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TSWeekend— 12th January 2018
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Governor Samuel Ortom is certainly distressed. He is the most embattled public office holder in the country at the moment. Killer herdsmen have raped the peace in Benue, the state he superintendents over. As governor, he swore an oath of office to protect life and property of his people. That makes him the chief security…
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