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FG decries rising inflation, moves to stop trend

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• Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed

…Oil theft, petrol subsidy frustrated 2022 budget performance – Minister

The Federal Government has decried the growing inflation in Nigeria, saying mechanisms have been activated to check the trend.

According to the Minister of Finance, Budget and National Planning, Zainab Ahmed, the President, Major General Muhammadu Buhari (retd.), has directed the National Food Security Council to brainstorm and make recommendations on the way forward.

Ahmed made this known at the House of Representatives in Abuja on Wednesday while appearing before the committee on finance to defend the budget proposed by the ministry in the 2023 Appropriation Bill.

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Chairman of the committee, James Faleke, had asked about efforts being made by the government to arrest the rising inflation in the country, which he said had become a concern to many Nigerians.

Responding, the minister blamed it on various factors, saying, “On inflation, it is a very serious situation, where Nigeria’s inflation is now 23 per cent. The inflation in Nigeria has a number of components. One of them is imported inflation – occurrences in other countries also affect Nigeria. For example the war between Ukraine and Russia has an impact on Nigeria in the sense that some of the inputs for food production are affected.

“Also the decisions taken by the Central Banks in the USA and Europe on monetary tightening have also an impact on their own level of inflation; that also affects our country. But in Nigeria, we also have food inflation and because of the high cost of diesel, we find this showing up in food prices. So, when farmers produce their goods and they have to transport them to markets, the increasing cost of transportation is impacting on the food.

“What the Central Bank of Nigeria is doing is continuing to monitor inflation by tightening money and mopping up liquidity.”

Ahmed added, “On the side of the government, the President has authorised the National Food Security Council and we have held a meeting on how some support will be provided. The committee will be meeting again in the next couple of days to provide recommendations to Mr. President.”

The minister also said more scanners had been procured to be installed at ports and borders to discourage use of other countries’ ports. She also stated that all government independent revenues had been remitted to the Treasury Single Account.

She said, “On why our ports are not attractive, it is a very big problem. The ports’ congestion and the unfortunate reality is that a lot of importers prefer to go to our neighbours. On the measures we are taking as the Ministry of Finance, we have provided and bought some very large scanners. Our assessment is that it will help to fasten the clearing process and decongest the ports.

“The Nigeria Ports Authority, on their own, is trying to re-organise ports to attain better efficiency, including control of entry and exit to the ports.

“The rail line from Lagos to Abuja is also being extended so that containers, even before inspection, can be taken out of the Apapa ports to some other locations for inspections to be done. This will enable Nigeria to attract its own business.”

Speaking on the performance of the 2022 budget, Ahmed said N3.52tn was for debt service out of the estimated total of N17.32tn. She also said the level of borrowing was N1.26tn ahead of July 2022. She recalled that the government had a proposal of N6.1tn new borrowings – N3.5tn from domestic sources and N2.5tn from foreign sources.

The minister said as at August 2022, the government had borrowed N4.06tn from local sources, including from the Central Bank of Nigeria.

Ahmed stated that crude oil theft and subsidy payment on Premium Motor Spirit (petrol) by the Nigerian National Petroleum Company Limited were factors responsible for the overall poor performance of the 2023 budget.

She, however, noted that the government was mindful of the development and was working on safety nets to cushion the effects on the economy.

Ahmed said, “Crude oil production challenges and PMS subsidy deductions by NNPC constitute a significant threat to the achievement of our revenue growth targets, as seen in the 2022 performance up to August. Revenue generation remains the major fiscal constraint of the federation. The systemic resource mobilization problem has been compounded by recent economic recessions.

“Efforts have been mainly focused on improving tax administration and collection efficiency. These efforts are bearing fruits with non-oil taxes mostly performing above target for the period.

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ADC Accuses Tinubu of Failing to Deliver on 2023 Electricity Pledge

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…says no amount of spin can hide his failure

The African Democratic Congress Presidential Campaign Council (ADC-PCC) has accused President Bola Tinubu of failing to fulfil his 2023 campaign promise to Nigerians on electricity supply, insisting that no amount of political explanations can conceal the administration’s alleged shortcomings.

The council also criticised the All Progressives Congress (APC) Presidential Campaign Council for attempting to reinterpret Tinubu’s electricity pledge, describing the move as an afterthought aimed at defending the President’s record.

The ADC-PCC Director of Media and Publicity, Kola Ologbondiyan, stated this in a press statement reacting to comments by Dele Alake, spokesperson of the APC Presidential Campaign Council.

According to Ologbondiyan, Tinubu made an unequivocal commitment during the 2023 presidential campaign when he told Nigerians not to re-elect him if he failed to deliver electricity during his first term.

He maintained that Nigerians had not forgotten the President’s declaration, arguing that attempts to explain or reinterpret the statement would not erase the commitment from public consciousness.

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The ADC-PCC said the administration had instead overseen increases in electricity bills, leaving households struggling to afford power supply while businesses continued to grapple with unreliable electricity.

It cited hospitality facilities as an example, alleging that some operators had resorted to rationing electricity by switching off power for guests during daytime hours to reduce operating costs.

The council also criticised the electricity tariff classifications, including Bands A, B and C, arguing that consumers were paying more without receiving a corresponding improvement in the reliability of power supply.

It further expressed concern over persistent power outages, repeated national grid collapses and inadequate electricity supply, which it said continued to affect households, manufacturers and small businesses.

On the Presidential Metering Initiative, the ADC-PCC questioned its effectiveness, alleging that implementation had fallen short of expectations while electricity distribution companies continued to issue estimated bills to consumers.

The council also dismissed the APC’s reliance on the Electricity Act and bond programmes to defend the administration’s performance, insisting that legislative measures and financial instruments could not substitute for reliable power supply.

“An Act is not electricity. A bond prospectus does not power homes and factories. Nigerians cannot eat statutes. What Nigerians need is electricity that works, not another round of explanations and publicity,” the statement said.

The ADC-PCC further argued that rising electricity tariffs had increased the financial burden on households and businesses already facing higher operating costs, while the quality of supply remained unreliable.

It maintained that Tinubu’s 2023 pledge should serve as the standard against which his administration’s electricity performance is assessed, insisting that the President should not seek another mandate without addressing the power supply challenge.

The council consequently called on the APC to respond directly to questions about the state of electricity supply rather than attempt to dilute the President’s campaign commitment.

It added that the January 16, 2027 election would provide Nigerians with an opportunity to assess the administration’s performance against its promises and decide whether to renew its mandate.

The statement was signed by Ologbondiyan, Director of Media and Publicity of the ADC Presidential Campaign Council.

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APC Supporters Attacked, Campaign Vehicle Set Ablaze in Katsina

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Image shows scenes from reported violence in Yankara town, Faskari LGA in Katsina
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Suspected hoodlums have attacked supporters of the All Progressives Congress (APC) in Yankara town, Faskari Local Government Area of Katsina State, leaving several people injured and a campaign vehicle belonging to a political support group burnt.

The incident reportedly occurred on Saturday as APC supporters travelled to attend the Tinubu-Dikko 2027 Campaign Rally organised in support of President Bola Ahmed Tinubu and Katsina State Governor Dikko Umaru Radda.

Eyewitnesses alleged that the attackers ambushed the supporters along a major road, blocked a route expected to be used by the campaign convoy and disrupted movement, triggering panic among residents.

A witness, who spoke to our correspondent by telephone, claimed that two APC supporters sustained fatal injuries during the attack.

However, the claim had not been independently verified as of 9:10 p.m. on Saturday.

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The Caucus Chairman of the Musa Adamu Network (MAN), Alhaji Nura Sule Yandaki, said he and 11 members of his team were travelling to the rally when the incident occurred.

According to Yandaki, tension escalated while members of another Islamic group were holding a Maulud procession, with suspected hoodlums allegedly taking advantage of the situation to attack vehicles, including those conveying APC supporters.

A vehicle belonging to the Musa Adamu Network was reportedly set ablaze during the violence.

Reacting to the incident, the network’s Secretary, Shamsuddeen Sani Lema, condemned the attack and called on security agencies to identify and prosecute those responsible.

Lema described the incident as unacceptable, insisting that political activities should not be conducted in an atmosphere of violence and intimidation.

He also urged the justice system to strengthen measures to deter similar attacks across the country.

As of 9:10 p.m. on Saturday, the police had yet to issue an official statement on the incident.

Radda Proceeds with Campaign Rally

Despite the reported violence, Governor Radda proceeded with the Tinubu-Dikko 2027 Campaign Rally in Faskari, where he highlighted his administration’s achievements in healthcare, security, education and infrastructure.

The governor announced that his administration had fulfilled its campaign promise to complete and open the Faskari General Hospital.

“During our previous campaign visit, we promised not to forget the hospital in Faskari. Today, by the grace of Almighty Allah, we have fulfilled that promise by opening the hospital for our people,” Radda said.

He also highlighted ongoing investments in road construction, school renovation, healthcare delivery and security, saying the interventions were helping to restore peace and create an enabling environment for economic activities.

Radda reaffirmed his administration’s commitment to transparency, agricultural development, community service and inclusive governance. He also assured residents that qualified indigenes of Faskari would continue to have opportunities to contribute to the state’s development.

Earlier, the Director-General of the Tinubu-Dikko 2027 Campaign Council, Arc. Ahmed Musa Dangiwa, commended the large turnout at the rally and praised Tinubu’s economic reforms as well as Radda’s performance in security, healthcare, education and human capital development.

Dangiwa urged APC members, youths and women to intensify grassroots mobilisation ahead of the 2027 general elections.

Also speaking, the Katsina State APC Chairman, Bishir Saulawa, assured supporters that the party would maintain a peaceful, issue-based campaign focused on its achievements rather than insults or divisive politics.

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Soldiers kill two bandits in Kogi ambush

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Another 196 soldiers resign from Nigerian Army over low morale, other reasons
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Troops of Sector 3, Joint Task Force Operation Whirl Stroke, killed two suspected bandits during an intelligence-led ambush along the Adankolo–Apata Road in Kogi State on Saturday.

According a post by the Acting Media Information Officer, HQ JTF Operation Whirl Stroke on Saturday posted on the Nigerian Army’s X handle, the operation followed credible intelligence about the movement of suspected criminals around communities in Kabba-Bunu and Lokoja Local Government Areas.

Troops set up an ambush on a suspected supply route, made contact with the group, and forced them to flee.

“Later the same morning, during a follow-up search, troops recovered the bodies of the two suspected bandits in the Adankolo Forest area.

“Items recovered included one locally made pistol, one cartridge, and one empty 7.62mm special ammunition case,” the post read.

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The Force Commander of Operation Whirl Stroke and General Officer Commanding 5 Division, Major General Moses Gara, praised the troops for their success and urged the public to continue providing timely information to security agencies.

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