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Just In : Wike on the march again flags off construction of another Abuja road

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By Emmanuel Agaji

Action packed FCT minister, Nyesom Wike is on the again as he flags off another major road project in Abuja.

Wike, on Wednesday, flagged off the construction of the five-kilometre access road in Saburi, Abuja Municipal Area Council (AMAC).

The event marked the sixth and final ceremony of its kind undertaken by the minister in less than two weeks.

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Wike, during the ceremony, explained that delivering significant projects, such as roads, which residents had given up hope on, was part of President Bola Tinubu’s vision to restore the long lost hope of the people.

“Governance is about what the people want. Nothing will stop us,” he said.

He urged FCT residents and Nigerians to pray for good health and wisdom for the president to succeed in delivering good things.

Noting that though things were tough at the moment, he emphasised that there was hope and a bright light at the end of the tunnel.

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He stressed that when things were really bad, it required more patience for a positive turnaround, which he was confident would surely materialise.

While appreciating the support of the people for the president and the programmes of the FCT Administration, Mr Wike reiterated that the political party was simply a vehicle that conveys one to a destination. He assured that after project flag-off, he would get down to face governance.

Gwagwa-Karimo-Deidei Road
He announced that the administration would construct the Gwagwa-Karimo-Deidei road to ease traffic congestion.

He made this decision after a request by the AMAC Chairman, Christopher Maikalangu, for the minister to consider expanding the road to alleviate traffic congestion.

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Mr Maikalangu described the road as a strategic commercial route in the whole of FCT, but in a bad state, narrow, and requiring expansion for the road users.

As a result, he added, it affects commercial, economic, and all other business activities in the nation’s capital.

“Today is a very significant and remarkable day to the people of Sabiru because their long-awaited requests and demands have been met via your pragmatic, tremendous and unprecedented leadership as the Minister of FCT.

“Your Excellency, due to the significant traffic on Gwagwa-Karimo and Deidei Road, I am pleading as a son of the soil, privileged to be the executive chairman under your watch, to say that the above-named road is in a bad state, narrow, and requires expansion for the road users. Thus, it affects commercial, economic, and all other business activities in FCT,” he said.

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In response, Mr Wike asked the people at the event if they agreed with Mr Maikalangu on the request, and the residents unanimously chorused “yes”.

“Consider it to be done,” the minister said.

Mr Wike said President Tinubu had emphasised that people in rural areas must be given attention because they constitute the larger part of the population.

He called on the residents to pray for the president for good health and God’s guidance to keep his campaign promise of providing dividends of democracy to the people.

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Mr Wike mentioned that the construction of additional roads across the six area councils of the FCT would be inaugurated in the next three months.

He appealed to the Senate and House of Representatives Committees on FCT to support in passing of the FCT statutory budget, which he said would be submitted soon to enable the Administration to deliver more roads and other projects in rural communities.

“Mr President has emphasised that our people in the rural areas must be given attention because that constitutes the larger part of the population. So, it is not only where the elite are living, but also where the poor ones are, so that we will be able to reduce the level of insecurity, make economic activities thrive, and have our farmers bring their goods to the market,” he added.

Earlier, the Chief of Jiwa, Idris Musa, thanked Mr Wike for constructing rural roads across the six area councils.

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“Today is a great day for us and other Nigerians that are jampacked in Jiwa Chiefdom. The road you are constructing now, we are very grateful,” he said.

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Nigeria to export petroleum products by Dec, says NNPCL

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Nigeria’s oil industry will join the big league in December when it becomes a net exporter of refined petroleum products.

Nigerian National Petroleum Company Limited (NNPCL) Group Chief Executive Officer (GCEO), Mele Kyari, said yesterday that ahead of this, the Port Harcourt Refinery will go into full operation and petrol supply from next month.

According to him, the Warri and Kaduna refineries will follow suit by December.

On Sunday, Alhaji Aliko Dangote said the Dangote Refinery will pump petrol in commercial quantity also from next month.

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These are expected to bring relief to Nigerians.

Kyari spoke when he appeared before the National Assembly Joint Committee on Finance.

He was part of the Federal Government’s finance team that shared ideas with the lawmakers on how the Executive is tackling the myriad of economic challenges.

Yesterday, the National Bureau of Statistics (NBS) put the June headline inflation rate at 34.19 per cent, pushed up by the 40.87 per cent food inflation.

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Other members of the economic team at the parley led by the Coordinating Minister of the Economy Mr. Wale Edun were: Budget/National Planning Minister, Senator Atiku Bagudu; Minister of State for Petroleum Resources, Senator Heineken Lokpobiri; Central Bank of Nigeria (CBN) Governor, Dr Yemi Cardoso, represented by Deputy Governor (Economic Policy) Muhammad Abdullahi and Federal Inland Revenue Service (FIRS) Chairman, Mr. Zacch Adedeji.

Edun and Abdullahi joined the meeting during the closed-door session.

Relying on emerging indicators in the energy and gas sector, the NNPCL boss told the committee that Nigeria will become a net exporter of refined petroleum products by December.

Kyari told the committee that the Port Harcourt Refinery will start production early next month, adding that this will be followed by the one in Warri and Kaduna Refinery latest by December.

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He added that in a few months, the daily crude oil production will hit two million barrels with the logistics so far put in place.

Kyari said: “NNPCL and the oil and gas industry are very critical in bringing a turnaround in our current economic situation, and we understand the importance of this. We are taking every step that is practical for us to achieve this.

“We have already seen growth in our oil and gas production because of certain actions that Mr. President personally took, and also the very mere truth that we have also declared a war on production activities and this is yielding the required results.

“The combination of these two has now seen us restoring production in our country, and we believe that, as the minister has said, we will soon hit the target of two million barrels of oil production per day.

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“I’m aware that there are several comments in the public space around refining business and domestic production, including production that will come from the commissioned Dangote refinery.

“This country will be a net exporter of petroleum products by the end of this year. We’re very optimistic that by December, this country will be a net exporter.

“That means a combination of production coming from us, and also from Dangote refinery and other smaller producing companies are in line to do this.

“So, I can confirm to you, Mr. Chairman, that by the end of the year, this country will be a net exporter of petroleum products.

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“We have spoken to a number of your committees that it is impossible to have the Kaduna refinery come into operation before December, it will get to December. Both Warri and Kaduna but that of Port Harcourt, will commence production early August this year.”

The CBN Deputy Governor said the triple challenge of rising inflation, foreign exchange rate fluctuations and food inflation would soon be on the reverse trend as indicators to that effect are already emerging.

Bagudu said the 2024 Budget is already being implemented and that there is ongoing negotiation with Labour leaders on the new minimum wage.

Chairman of the joint Committee, Senator Sani Musa, appealed to Nigerians to persevere “as the government is working around the clock to stabilise the economy”.

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He added: “Our critical interactive session with you as managers of the economy is about economic growth. It’s about how we can get our policies to work. How we will support Nigerians.

“The National Assembly is very concerned because we are the representatives of the people. And we are obliged to ask what is happening and this is the reason for this meeting.

“We have heard from you, at least you have given us preambles of the activities going on, on how our economy can get back on track.

“You are all aware of the obstructions our economy has had in the previous years and it is not going to be easy that overnight, in 365 days or in one year of the coming administration, things will change. It will be gradual.

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“I believe that Nigerians will persevere. This is the only time we can all come together as Nigerians to give His Excellency the President, all the needed support to get us out of all the trouble we have been.

“The indicators are showing that the economy is doing well. Things are a bit difficult because it is not easy for inflation that has gone up to go down like that. It takes time.”

Inflation rises to 34.19 per cent

Nigeria’s headline inflation rate rose marginally by 0.24 percentage points to 34.19 per cent last month from 33.95 per cent in May.

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Food inflation also increased to 40.87 per cent last month against 40.66 per cent the previous month.

The National Bureau of Statistics (NBS), in its latest report, said: “In June 2024, the headline inflation rate increased to 34.19 per cent relative to the May 2024 headline inflation rate which was 33.95 per cent.

‘’Looking at the movement, the June 2024 headline inflation rate showed an increase of 0.24 per cent points when compared to the May 2024 headline inflation rate.”

The NBS stated this in its Consumer Price Index (CPI) released yesterday.

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The CPI  measures the average change over time in the prices of goods and services consumed by people daily.

“On a year-on-year basis, the headline inflation rate was 11.40 per cent points higher compared to the rate recorded in June 2023, which was 22.79 per cent,’’ the report added.

However, the rate of increase (0.24 percentage points) is lower than that of  May and other months.

“On a month-on-month basis, the food inflation rate in June 2024 was 2.55 per cent, which shows a 0.26 per cent increase compared to the rate recorded in May 2024 (2.28 per cent),” it said.

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The NBS attributed the development to a rise in the average prices of food items.

CPI had risen from 33.20 per cent in March to 33.69 per cent in April.

Nigeria has seen 19 months of consecutive inflationary pressure, pushing the inflation rate to a 28-year high.

Many experts at Cordros Capital Group, and CardinalStone Group, had expected a gradual and sustained decline in inflation in the months ahead, with some highlighting possible disinflation from July 2024.

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Financial Derivatives Company (FDC) predicted that average prices would rise further this month. It cited renewed inflationary pressure.

FDC particularly noted that imminent wage increases could trigger cost-push inflation.

President of the Association of Capital Market Academics in Nigeria, Prof. Uche Uwaleke, said recent fiscal measures by the Federal Government designed to address food shortages would manifest in a slowdown of costs.

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18.7m Nigerians under insurance cover, NHIA DG

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No fewer than 18.7 million Nigerians have been covered by health insurance as of this year’s second querter, the Nigerian Health Insurance Authority (NHIA) said yesterday.

The agency said it has made significant strides in expanding health insurance coverage across the country.

It’s Director-General, Dr. Kelechi Ohiri, dropped the hints in Abuja during the inaugural Quarterly Performance Dialogue between the Federal Government, 36 State Governments, and key health sector stakeholders.

According to him, the 18.7 million Nigerians covered by health insurance, surpassed the target set for the period by an impressive 11 per cent.

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He said that this achievement highlighted the NHIA’s dedication to achieving universal health coverage (UHC).

Ohiri said: “The authority’s vision is centered on bridging the gap in healthcare access for millions of Nigerians and enhancing the overall quality of care. Despite this progress, several challenges persist.”

He said that one of the significant challenges identified was the uneven distribution of coverage, particularly the disparity between the formal and informal sectors.

To tackle these challenges, Ohiri said that the NHIA had outlined a strategic plan for the future.

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He mentioned that the authority aimed to leverage on data and technology to enhance service delivery and patient outcomes.

He said that the NHIA was optimising operations and fostering citizen engagements in its commitment to improving healthcare access.

“The authority has set an ambitious target to cover 20 million Nigerians by 2027, a goal that underscores its comprehensive vision for universal health coverage in the country,” he said.

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Ex-VP Osinbajo Celebrates Wife’s Birthday With Heartfelt Message

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Former Vice President, Professor Yemi Osinbajo, has taken to social media to gush over his wife, Dolapo, as she marks her birthday anniversary on Monday.

Osinbajo took to his X handle (formerly Twitter) on Monday to pen down emotional messages with pictures of Dolapo appreciating arts and plants, to wish his wife well.

Osinbajo wrote: “Happy birthday my love @dolapoosinbajo.

“Your love, kindness, and generosity make all our lives so much happier.

“Love you always, Yemi xxx.”

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He continued, saying, “This year I decided to share my favorite photos of Dolly @dolapoosinbajo doing her favorite things.”

Taking to the comment section, veteran Nollywood actress Joke Silva said, “Happy birthday to the Jewel in the Crown. Have an incredible day.”

Also, a former Chairman, Board of Directors, First Bank of Nigeria Ltd., Ibukun Awosika, reacted: “Happy birthday to a most beautiful person, both inside and outside. You are a true treasure and a worthy example of Christ in us. God bless you richly. Love you lots.”

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