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LP Caucus Reps Say Tinubu’s One Year In Office A Reign Of Economic Hardship

Published

4 months ago

May 28, 2024

By Gloria Ikibah

The Labour Party (LP) caucus in the House of Representatives has described President Bola Tinubu’s one year in office as a “Reign of economic hardship, insecurity and hopelessness”.

These according to the caucus negates the Renewed Hope Agenda campaign promises of the current administration.

This was contained in a State-of-the-Nation statement signed by the caucus Leader, Hon. Afam Victor Ogene, to mark the first year anniversary of the current dispensation on Tuesday in Abuja.

The LP caucus said it’s bewildering that the economy of the nation has dangerously continued on a free fall, one year after the inauguration of the current administration, thereby casting a cloud of doubt on the capacity of the All Progressives Congress ((APC) led-government to rescue the nation from the current situation, especially after what it described as “the precarious eight years of the past administration, characterised by widespread despair”.

The statement reads: “After last year’s glitch-determined presidential election, and the legal gymnastics which ratified the indolent behaviour of the electoral umpire, our Caucus had taken a backseat, in the patriotic hope that, maybe, just maybe, the beneficiary administration would be able to wrought magic and pull the nation from the precipice of economic annihilation.

“But, as can be obviously felt by the blind, and seen by the deaf, the entire country has, after one year, come to the full and unambiguous understanding of what President Bola Tinubu meant, when he said that his administration would continue with the ‘legacies’ of his predecessor.”

“The current staggering negative economic indices should alarm every Nigerian, as it has left many previous optimists, including ourselves, in glaring shock”.

The caucus noted that the latest report of the National Bureau of Statistics (NBS), indicated that food inflation rate in March 2024 was 40.01 percent on a year-on-year basis – an increase of 15.56 percent points higher, compared to the 24.45 percent rate recorded in March 2023.

“Curiously, the NBS had pointed out that the disturbing rise in food inflation was caused by an increase in prices of garri, millet, bread and cereal, yam, dried fish, meat, and fruits, considered to be mostly every day staple food for the ordinary man, who is now forced to battle with daily hunger as a result of food scarcity and decreasing purchasing power.”

“From 29.9% in January – the highest since 1996 – Nigeria’s general inflation rate today stands at 33.20% and a poverty rate of 38.9%.

“Price of petrol has risen from N238.11 per litre, to N701.24, which is an increase of 194.5 %. Cooking gas price has increased by over 70%, diesel from N844.28 per litre to N1,415.02, which is 67.6% and public debt from N87.38trn to N97.34trn, an increase of 11.4%.

“Also, interest rate for bank loans which manufacturers and small and medium enterprises depend on for business and economic activities has increased in the past year, from 22.41 % to 33.69 %, which is an increase of 31.15 %.

“These verifiable figures and the excruciating living conditions of the people, more than any other thing, underscore the fact that in just one year, the APC government has earned an unenviable record of perpetuating a cycle of poverty and underdevelopment, in spite of the flowery campaign promises it made just last year”, the LP lawmakers asserted.

The Caucus further said that President Tinubu campaigned on the mantra of ‘Renewed Hope Agenda’, anchored on an eight-point agenda, which formed his social contract with the Nigerian electorate: food security, poverty alleviation, growth, job creation, access to capital, inclusion, rule of law and anti-corruption fight.

“This economic plan raised cautious optimism in many because it embodies the concept of utilitarianism – ultimate good to the greatest number.

“But now, we hasten to ask, has Nigerians seen any indication of fulfillment of those promises? On the contrary, the ordinary man on the street is weeping and wailing, with pervasive hunger hunting millions of homes. So, what we see, in actual sense, are failed promises.”

“To make things worse,” the LP Reps continued, “Then in an attempt to stabilize the naira, the government at the beginning of the year committed another faux pas by floating it. This caused the naira to undergo substantial depreciation, such that by February, the naira exchanged at an alarming rate of N1,900 against the dollar in the parallel market – and hasn’t achieved any stability since then”, Rep. Ogene stated.

In the area of security, the lawmakers said: “In his 80-page manifesto with a 10-point agenda unveiled in October 2022 during the campaigns, President Tinubu had pledged “To establish a bold and assertive policy that will create a strong yet adaptive national security architecture and action to obliterate terror, kidnapping, banditry, and all other forms of violent extremism from the face of our nation.

“Given the security situation today, this appears to be a mere rhapsody of rhetorics, making many to believe that the administration lacks an effective security strategy, as Nigerians are bogged down by incessant abductions, displacements and massacres by non-state actors across the nation.

“As the nation begins the journey into the second year of this administration, we call on President Tinubu to, as a matter of urgency, prioritise on minimizing the suffering of Nigerians, by ensuring food security, access to clean water, healthcare and education.

“Tackling poverty and guaranteeing these necessities are pivotal to the sustenance of peace in the nation.

“We also call on government to intensify the fight against corruption, with transparent governance and accountability being paramount. We also warn that government should desist from throwing the nation to the whims of foreign financial institutions, whose policies in developing countries are often anti-people.”

News

LASG shuts down Idera market over ‘environmental pollution

Published

4 hours ago

September 19, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

The Lagos State Environmental Sanitation Corps (LAGESC) says it has sealed off the Idera market in the Oshodi metropolis.

In a statement on Thursday, Ajayi Lukman, LAGESC spokesperson, said the agency sealed the market due to unhygienic practices and indiscriminate dumping of refuse, which contravened the environmental law of the state.

He said the measure was taken to enforce adherence to environmental cleanliness across registered markets in the state.

‘‘Our operatives stationed across the Oshodi division during routine market monitoring identified the filth, unhygienic practices, and indiscriminate dumping of refuse around the Idera Market area, which prompted us to seal off the market until further notice,” the statement reads.

Lukman quoted Olaniyi Cole, the corps marshal of the agency, as decrying the level of hygiene at the market, which could lead to an outbreak of diseases.

He said Cole frowned at the inability of the market leadership to provide a valid waste collection contract, which resulted in the heaps of refuse in the facility.

He added that the display of wares for sale on road setbacks, lay-bys, medians, verges, kerbs, street trading, and hawking remained banned in the metropolis.

The LAGESC corps marshal reiterated the ban on the sales, distribution, and usage of styrofoam in the state, noting that anyone found culpable would be punished decisively.

News

Hours to Edo guber polls, major opposition candidate crumbles structure for Ighodalo

Published

4 hours ago

September 19, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

Hours to the Edo State governorship election, the guber candidate of the All Peoples Party (APP)Amb Osalumese Areloegbe on Thursday morning collapsed the structure for the governorship candidate of the Peoples Democratic Party (PDP), Dr. Asue Ighodalo and his running mate, Osarodion Ogie Esq.

Addressing journalists at the party secretariat in Benin City, Areloegbe said his decision to collapse the structure for the PDP candidate was because he believed that Ighodalo had all it would take to govern the state to greater heights.

According to him, I urged all my followers and supporters to disregard any information that I have aligned with the All Progressives Congress (APC) governorship candidate, Senator Monday Okpebholo.

“I am supporting Asue Ighodalo because he is competent, not that I am not competent but I believe Asue is on the forefront. That is my reason for supporting his candidacy.

“My party is aware because they have been having a series of negotiations for us to align with the APC, and I told them categorically that I am supporting PDP. My eighteen local government followers are in full support of my decision, I mean 100 per cent supporting the PDP candidate, Barr. Asue Ighodalo and his running mate, Barr. Osarodion Ogie in this election.

“My choice for Asue Ighodalo is because, apart from myself, I see him as the next better candidate that I can support and I can put my weight on because he has the capacity, mentally, physically and otherwise to pilot the affairs of Edo State to greater heights.

“The national secretariat of my party, APP – they are in Abuja and I am in the state, and know much more of what is happening in Edo State. They are not here and don’t know what is going on here in Edo. And I am in a position to tell them what will be better for the Edo people.

“There is a parable that says, ‘You cannot shave a man’s head when he is not present’. I am here in Edo State and I know who to support and why I am supporting him. The national leadership might have taken a different tone, but this is what I and my followers have chosen.

“We had a series of other politicians who had made such decisions before. That is why I agreed with the support of my supporters to collapse my structure for the governorship candidate of the PDP Barr. Asue Ighodalo and his running mate, Barr. Osarodion Ogie.”

News

SAD! Woman reportedly d!3s in Osun building c0llapse

Published

4 hours ago

September 19, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

A resident of Ifetedo in Osun State, simply identified as Idowu, had reportedly died in an incident of collapse building that occurred in the town.

The collapsed structure was said to be a dilapidated building that suddenly caved in and killed the woman.

A resident of Ifetedo, simply identified as Ogunyemi, while speaking to The PUNCH on Thursday, said operatives of the Nigeria Security and Civil Defence Corps, responding to a distress call, were at the scene of the incident.

Some NSCDC operatives rushed to the scene after they were informed of the incident. They were joined by some other people in the community.

Idowu was the only person in the building when the incident happened. She was brought out dead from the rubble.

“The incident caused panic in Omiloode Area, where the building is located. The building that collapsed is a dilapidated structure,” Ogunyemi said.

Osun NSCDC Public Relations Officer, Kehind Adeleke, when contacted confirmed the incident, adding that the scene was immediately cordoned off by security men.

“An abandoned dilapidated building located along Omiloode Street, Ifetedo collapsed and killed one Mrs Idowu, who was said to be around the structure when the incident happened.

“The tragic incident occurred at about 17:30 hours on Tuesday.

“Officers and men of NSCDC Ife South Division, upon getting information rushed to the scene of the incident for rescue operation. But unfortunately, the woman had passed on. She was brought out of the rubble dead. The site was immediately cordoned off,” Adeleke said.