…Seek national consultations From Romanus Ugwu, Abuja and Tunde Omolehin, Sokoto Governors elected on the ticket of the All ruling All Progressives Congress (APC) have blamed the spate of agitations by various ethnic nationalities on weak governance. To stem the tide of ethnic tensions, the governors under the aegis of the Progressives Governors Forum (PGF)…
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)
— 23rd June 2017
•Lagos/Ibadan highway, 2nd Niger Bridge, others threatened By Adetutu Folasade-Koyi Ten days after Acting President, Prof. Yemi Osinbajo, signed the N7.44 trillion 2017 budget into law, Minister of Power, Works and Housing, Babatunde Fashola, has blown the lid on how the National Assembly inserted projects outside the purview of his ministry. Besides, Fashola, who spoke…
— 23rd June 2017
An Ikeja High Court has remanded an American citizen, Marco Ramirez, at Kirikiri Maximum Prison, for allegedly defrauding three Nigerians in a $565,000 Green Card and investment scam. Ramirez was remanded following his ‘not guilty plea’ to a 16-count charge of obtaining money under false presences. He was arraigned by the Economic and Financial Crimes…
— 23rd June 2017
From Romanus Ugwu, Abuja The Independent National Electoral Commission (INEC) has written to Senator Dino Melaye, to officially notify him of plans by Kogi West senatorial district, to recall him from the Senate. In a statement signed by the National Commissioner and Member, Information and Voter Education Committee, Mallam Mohammed Haruna, the commission said the…
— 23rd June 2017
By Louis Ibah Thirty-four Nigerians arrived in the country yesterday after they were deported from six European countries for violating their immigration laws. The Nigerians were deported from Switzerland, Germany, Iceland, Austria, Belgium and Hungary. The deportees arrived at the Murtala Muhammed International Airport (MMlA) Lagos, at about 6.30am on board a chartered Airblue…
Entertainment— 21st June 2017
By RITA OKOYE Nollywood starlet, Nzubechi Maureen Onyia popularly called Nzube Onyia, dreads heartbreaks like hell. This is coming after her ex-lover dumped her a few years ago. However, the experience was the starting point of her movie career, as the heartbreak took her to another level. Here, the light-skinned actress shares her inspiring success…
South-West Report— 22nd June 2017
• Rumble in Ekiti communities over chairmanship of traditional council From Wole Balogun, Ado-Ekiti What can be described as a royal rumble is brewing in three major towns of Ogotun, Ilawe and Igbara-Odo, in Ekiti Southwest Local Government Area of Ekiti State. The Ologotun of Ogotun, Oba Samuel Oyebade, is accused of sit-tight for allegedly…
Abuja Metro— 21st June 2017
As the controversy over the death of Joy Odama rages, her nother, Mrs. Philomena Odama, has opened up on the tragic incident, saying an Abuja-based millionaire should be held responsible for it. In an interview with Molly Kilete in Abuja, at the office of the non-governmental organisation championing the arrest and prosecution of the suspect,…
Oriental News— 21st June 2017
From George Onyejiuwa, Owerri This year, no fewer than 12,000 persons have benefited from the three-day annual free medical mission held recently for the treatment of the aged, poor and indigent by the Mbaise USA for their people at home. The free medical mission held simultaneously at Ezinihitte, Ekwerazu, Uvuru, Lorji, Ezialakaohu Nguru and St….
Features— 23rd June 2017
By Okwy Odunze The Government of Anambra State has signed a Trust Agreement with the United Nations Industrial Development Organisation(UNIDO), on behalf of the for the implementation of the Learning Initiative For Entrepreneurs (LIFE) programme in the state. The programme which will be implemented in 41 Senior Secondary Schools across the three senatorial zones of…
Literary Review— 12th June 2017
By Isidore Diala Professor Ben Obumselu, who was laid to rest on Friday June 9, 2017, at his hometown, Oba, in Anambra State, remarked in a 1990 article: “Every man is a lover and follows the Muse.” He meant to point to the legion of human compulsions and fixations, and placed in hierarchical…
Lifeline— 22nd June 2017
•Thousands of commuters stranded; travellers in desperate search for food, water •We need help from FG, Niger govt cries out By Adams John, Minna The Ilorin-Jebba-Mokwa road is one of the busiest highways in the country. Over 300 trailers and tankers and other smaller vehicles ply the road daily, as it is the only major…
Education Review— 20th June 2017
• A revealing encounter with Nigerians who don’t know the meanings of “whistleblower” and “whistle blowing,” and ones who presume to know • Shocking: They include students of institutions of higher learning From Rose Ejembi, Makurdi, and Bianca Iboma, Lagos In recent times, there has been a lot of hue and cry about “whistle-blowing” and…
Marketing Matters— 30th November 2016
It was a unique gathering of major stakeholders in Nigeria’s marketing industry when the Advertisers Association of Nigeria (ADVAN) rolled out the red carpet to celebrate outstanding achievers at the 2016 ADVAN Awards for Marketing Excellence at the MUSON Centre, Onikan, Lagos, last weekend. The event threw up new champions who would bask in the…
TSWeekend— 19th June 2017
Mavrodi Mondial Movement (MMM) a peer to peer donation community of people helping each other with their SPARE money, recently partnered an NGO, Initiative for Self Esteem Empowerment and Evaluation (ISEE) Inc. in conjunction with Olajumoke Jide Foundation to empower indigent women in Lagos with the sum of #500,000 with a view to alleviating poverty….
Hold FG responsible for ethnic hatred The Federal Government should be warned that it would be responsible for the ethnic hatred in the country. We had warned repeatedly that the FG should insist that vendors and newspaper distributors should be warned by Police Commissioners and DPOs to stop selling illegal publications on Biafra, which uses…
Last week, in this column, I shared with you how your attitude determines your altitude. How far you can soar above storms or succeed against daunting odds, especially in a depressed economy, is predicated on your response to problems. Today, I shall discuss a few tips on the marketing of products and services in a…
There is every reason to believe that the Indigenous People of Biafra ( IPOB) whose activities triggered the quit notice given to the Igbo in the North by Arewa youths is elated by the stand of the northern groups. IPOB believes that the Arewa youths, through their declaration, may have, without knowing it, made the…
Taraxacum officinalisWigg. Family- Asteraceae Common names: priest’s crown, monk’s head, irish daisy, lion’s tooth, ewe yarin (Yoruba). A flowering herbaceous plant commonly considered a weed by many gardeners and lawn owners. Dandelion can be found on roadsides, banks and shores of water ways and other areas with moist soils. It grows from generally unbranched taproots…
The title of today’s outing is strictly not an original of mine. It is a recall of when I read that Hollywood saga comprising of the Dream Merchants, the Carpet Beggars and the Inheritors by Sydney Sheldon. The three books in combination are often referred to as a trilogy. But we are not talking about…
TO most of us, the strident calls for heavy investments in the southeast ring hallow and have fallen on deaf ears. Most times, the calls seem very unexciting to some people. It is sometimes utterly discouraging to continuously drum into the ears of wealthy Nigerians to begin to site factories and other businesses in the…
African time, a bastardisation of the global norm and culture in keeping to time, has eaten into every fabric of Nigerian society. From schools, churches, mosques, private and public institutions, late-coming to events has clearly become catholic and has eroded confidence and integrity of the Nigerian way of life and so strangely accepted. With this…
In the executive pronouncement by Lagos State Governor, Mr. Akinwunmi Ambode, during an official on-the-spot assessment of the traffic situation in the state, he directed all Vehicle Inspection Officers (VIO) and the Federal Road Safety Corps (FRSC) to immediately vacate all Lagos State-owned roads with high traffic. From all indications, that pronouncement brought sanity to major…
The matter with religious leaders is that they begin their logic and sentiments with a sense of their own self-righteousness and certainty. It is this sense of self-righteousness that makes the religions a force for social discord. Simply put, the religionists are fixedly certain about a world that is still in a flux. So, next…
Since a coalition of motley Northern Youth groups issued the Igbo of South-East Nigeria a quit notice to vacate the Northern part of the country, the ethnic animosities that have for some time now dominated the social media have spilled onto the front pages of the country’s mainstream media publications. The quit order, which was…