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Residents to pay more for bread as bakers increase prices
Residents of Kogi are to pay more for bread as bakers called off their four-day strike and increased prices of the essential commodity in the state.
On Tuesday, the bakers in Lokoja embarked on a strike to protest the high cost of flour, sugar and fuel, negatively affecting the production and distribution of bread across the state.
Gabriel Bamidele, chairman of the Kogi Bakers Association, told journalists on Saturday that prices of all categories and sizes of bread had increased following the harsh economic conditions in the country.
Bamidele disclosed that the four-day strike had been called off with a slight increase in the price of bread.
“As an association, we have resolved that the first three small categories/sizes of bread will attract only a N50.00 increment, while the bigger ones will attract a N100.00 increment.
“This means a loaf that was sold for N100, N200 and N250 will now cost N150, 250 and N300.
“Also, the big ones that used to cost N800, N1000, N1200 and N1400 will now cost N900, N1100, N1300 and N1500 in the market.
“These increments became imperative in view of the high cost of flour, sugar, petrol and engine oil in the country today.
“We hope that the public will understand our plight and cooperate with us to keep us afloat in business,” he said.
The chairman explained that three months ago, a bag of flour cost between N38,000 and N40,000, while a bag of sugar cost between N58,000 and N60,000.
Today, a bag of flour is N58,000, while a bag of sugar is N85,000.
He added: “The cost of distribution is another, coupled with the increase in prices of engine oil, whose carton rose from N35,000 to N62,000.
“A car tyre that used to cost N18,000 is now N40,000, aside from the cost of petrol, which is between N650 and N700 per litre at the filling stations.”
He said that bakers now spend between N28,000 and N30,000 to distribute their bread across the state, very much above the N5,000 cost before.
“We all go to the same market and are very much aware of how costly things are due to the economic hardship in the country.
During the four-day strike, bread was almost off the streets, as only a few were seen on the shelves of some supermarkets and shops.
(NAN)
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NCC commences pre-enforcement action on Starlink over price hike
The Nigerian Communications Commission (NCC) says the decision by Starlink to unilaterally review its subscription packages upwards did not receive the approval of the commission.
In a statement signed by its Director, Public Affairs, Reuben Mouka said the action of the company is in contravention of Sections 108 and 111 of the Nigerian Communications Act (NCA), 2003, and Starlink’s Licence Conditions regarding tariffs.
The Commission commenced pre-enforcement action on the licensee on the 3rd of October, 2024.
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FG to begin $750m rural electrification project November
The Federal Government has announced that it will commence implementation of the $750m World Bank-funded rural electricity project in November.
It said the project will provide over 17.5m Nigerians with new or improved access to electricity through distributed renewable energy solutions.
The Managing Director of the Rural Electrification Agency, Abba Aliyu, disclosed this when he appeared on Channels Television’s Sunrise daily programme on Thursday.
Recall that in December 2023, the World Bank announced the approval of Nigeria Distributed Access through Renewable Energy Scale-up project, being financed by $750m International Development Association credit and would leverage over $1bn of private capital and significant parallel financing from development partners.
The financing from development partners includes $100m from the Global Energy Alliance for People and Planet and $200m from the Japan International Cooperation Agency.
Other development partners collaborating on the programme include the United States Agency for International Development, the German Development Agency, SEforAll, and the African Development Bank.
But 10 months after its approval, the REA MD noted that the project would begin implementation next month without stating reasons for the delay.
He explained that three million anticipated beneficiaries would be connected through the isolated mini-grid, 1.5 million Nigerians through the inter-connected mini-grip, and 12 million would be electrified using a merged grid and solar stand-alone system.
Aliyu said, “There is a new project that we are starting next month called the Distributed Renewable Energy Scale-up project which is a $750 million financed by the World Bank.”
“The target of that project is to electrify 17.5 million Nigerians, and I must say that this is one of the most ambitious projects in the world based on my understanding from India that has moved many unelectrified people to have access to electricity.
“Three million of them through the isolated mini-grid, 1.5 million Nigerians through the interconnected mini grip, 12 million would be electrified using a merged grid and solar stand-alone system.”
Aliyu further said the project is estimated to last for five years and was built on successes recorded from similar projects in the past which cost $550 million and were funded by the World Bank and the African Development Bank.
News
VIO does not have power to stop, impound, fine vehicles again – Court
A Federal High Court in Abuja has issued an order barring the Directorate of Road Traffic Services (otherwise known as VIO) from further stopping vehicles on the road, impounding or confiscating vehicles, and imposing fines on motorists.
Justice Evelyn Maha issued the order in a judgment on a fundamental rights enforcement suit: FHC/ABJ/CS/1695/2023 filed by a human rights activist and public interest attorney, Abubakar Marshal.
Also affected by the order are the Director of Road Transport; the Area Commander, Jabi, and the Team Leader, Jabi, and the Minister of the FCT, also listed as respondents.
In the judgment delivered on Wednesday, October 2, Justice Maha upheld Marshal’s argument that no law empowers respondents to stop, impound, confiscate, seize, or impose fines on motorists.
The judge declared that the first to the 4th respondents, who are under the control of the 5th respondent (Minister of the FCT) are not empowered by any law or statute to stop, impound, or confiscate the vehicles of motorists and or impose fines on motorists.
She proceeded to issue an order restraining the 1st to 4th respondents either through their agents, servants, and or assigns from impounding, confiscating the vehicle of motorists, and or imposing a fine on any motorist as doing so is wrongful, oppressive, and unlawful by themselves.
Justice Maha further made an order of perpetual injunction restraining the respondents whether by themselves, agents, privies, allies or anybody acting on behalf of the 1st respondent from further violating the rights of Nigerians to freedom of movement, presumption of innocence and right to own property without lawful justification.
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Naira redesign didn’t follow standard procedure, ex-acting CBN boss tells court
Folashodun Shonubi, a witness in the trial of former Central Bank of Nigeria (CBN) governor Godwin Emefiele, told the High Court of the Federal Capital Territory (FCT) yesterday that the naira redesign policy did not follow standard procedure.
Shonubi, a former CBN Acting Governor, said there were intrigues and politics around the 2022 redesign policy.
The former Deputy Governor (Operations) said: “When we had meetings with the defendant (Emefiele), he said there were politics and intrigues around the whole exercise.”
Led in evidence by Rotimi Oyedepo (SAN), the witness said the redesigned naira notes produced by the CBN under Emefiele were not the same as those approved by ex-President Muhammadu Buhari.
He said the memo presented to the president for the redesign was solely prepared by Emefiele.
Shonubi said the normal procedure was for the Currency Management Department to recommend a redesign, after which a paper would be submitted to the Committee of Governors (COG) for consideration.
Upon the COG’s approval, the CBN Board would make a recommendation to the President.
The witness said after the President’s approval was received, the bank would then set up an internal committee to execute the currency redesign.
Shonubi, a member of both the COG and CBN Board, told the court that Emefiele killed the recommendation made in early 2021 by the bank’s Currency Department for a redesign.
He said: “The CBN did not follow the procedures (for redesigning the currency). I was a member of the CBN Board as Deputy Governor.
“The chairman of both the COG and board was the governor. In early 2021, the Currency Department recommended the redesign of the currency notes.
“A paper was presented to me and on the instruction of the governor (Emefiele). It was stepped down.
“In 2022, we again represented the paper and were asked to hold on.
“In mid-October 2022, the Deputy Governors were invited to a meeting in the office of the Governor where he (Emefiele) informed us that he had presidential approval for currency redesign.
“He showed us the memo, Mr President’s signature and instruction on the last page.”
Shonubi said under cross-examination by ace defence counsel Olalekan Ojo (SAN) that he was not aware of the discussions between the defendant and the former President over the redesign policy.
The Economic and Financial Crimes Commission (EFCC) is trying Emefiele on a four-count charge of illegal acts causing public injury.
He pleaded not guilty.
Justice Maryanne Anenih adjourned till Tuesday.
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Senate invites Umahi over Old Oyo-Ogbomosho road
The Senate yesterday summoned the Minister of Works, Dave Umahi, over the deplorable condition of the Old Oyo-Ogbomosho Road.
The resolution of the Senate’s consideration of a motion of urgent public importance was moved by Senator Buhari Abdulfatai (APC – Oyo-North), who drew his colleagues’ attention to the worsening condition of the road.
Abdulfatai said the road, a major link between the South and North, had caused untold hardship for travellers, most of who were frequently stranded due to the poor state of the road.
For over 10 years after the Federal Government began major repairs on the road, Buhari said it had remained deplorable, causing regular accidents and daily gridlock by articulated vehicles.
Buhari in his lead debate underscored the im portance of good roads, saying apart from preventing avoidable accidents, it makes movement of goods and services easy.
He said: “The Senate is aware that transportation ensures stable prices in different markets and enables traders to regulate the supply of goods at locations, based on changing demands.’’
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UPDATED: Tinubu off to UK for two-week annual leave
President Bola Tinubu will on Wednesday depart Abuja for the United Kingdom to begin a two-week vacation.
The vacation is “part of his yearly leave,” Tinubu’s Special Adviser on Information and Strategy, Mr. Bayo Onanuga, revealed in a statement he signed Wednesday.
The statement is titled ‘President Tinubu goes on annual leave.’
“He will use the two weeks as a working vacation and a retreat to reflect on his administration’s economic reforms.
“He will return to the country after the leave expires,” the statement read in part.
Sources close to the President had confirmed to our correspondent that Tinubu was taking the two-week break as part of his annual leave.
Wednesday’s trip comes two weeks after the President returned from London where he met with King Charles III.
The UK becomes Tinubu’s 27th foreign destination since he assumed office about 16 months ago and his fourth trip to the country.
So far, he has visited Equatorial Guinea, London (four times), the United Kingdom (twice); Bissau, Guinea-Bissau (twice); Nairobi, Kenya; Porto Norvo, Benin Republic; Pretoria, South Africa; Accra, Ghana; New Delhi, India; Abu Dhabi and Dubai in the United Arab Emirates; New York, the United States of America; Riyadh, Saudi Arabia (twice); Berlin, Germany; Addis Ababa, Ethiopia; Dakar, Senegal and Doha, Qatar.