News
Prices of perishable items crash in Yobe, Borno, Adamawa
The prices of perishable items have recorded a fall in some major towns in Yobe, Borno and Adamawa states, the News Agency of Nigeria (NAN) reports.
NAN’s checks at Perishable Items Market, Damaturu in Yobe, revealed that the prices have dropped by about 50 per cent.
A big basket of tomatoes sold at N120,000 between April and May now costs N40,000, while a small basket previously sold at N75,000 is now going for N18,000.
A bag of pepper sold at N170,000 in the same period now costs N82,000, while a bag of pepper goes for N70,000 as against N75,000 sold in July.
Similarly, a bag of Okro which was sold at N50,000 within the period under review, now goes for N25,000.
However, prices of onions have increased as a bag of the item which cost between N28,000 and N30,000 three to four months ago, now rose to N50,000.
The market’s Chairman, Alhaji Muazu Abbas, attributed the drop to the arrival of new items in the market.
“Prices of perishable items usually drop whenever harvests are made and new goods arrive in the market, but the prices rise when there is a shortage of goods,” he said.
However, the price of yam has skyrocketed at Bayan Tasha Market in the metropolis.
NAN checks revealed that two small tubers of yam sold at N1,500 in 2023, now cost N4,000, while three big tubers that went for N3,500 within the period, now go for N15,000.
When contacted, the Yam Sellers Leader in the market, Alhaji Habibu Mohammed, blamed the sharp rise on the shortage of supply of the items to the market.
He also blamed the hike on an increase in the cost of transporting the items to the market from Taraba, Benue, Nasarawa and Plateau states.
On his part, Alhaji Usman Ngari, Chairman, All Farmers Association of Nigeria (AFAN), Yobe Chapter, expressed concern over the high cost of establishing food crop storage facilities.
“Storage facilities preserve crops and increase profit, especially in cultivation of perishable items.
“Unfortunately, establishing such factories is capital intensive and most of us do not have that kind of money,” he said.
Ngari called on the government at all levels to support farmers with capital to acquire storage facilities to boost their productivity and income levels.
In Borno, the prices of perishable goods are the same as Yobe, but the traders said they are still looking forward to more fall in prices in a few months when farmers will start harvesting tomatoes and other perishables in the state.
“The supplies we are getting now are from Kaduna and Kano,” Isa Mohammed, a dealer in Maiduguri vegetable market said.
Mustapha Usman, a grain dealer said the prices of grains produced in Borno like local rice, beans, maize, and millet have continued to remain high and could only come down when harvest commenced in October.
Also in Adamawa, while there was a fall in prices of perishables due to harvest, that of grains have continued to remain high.
Alhaji Aliyu Mohammed, the Chairman of the Adamawa Chapter of the Nigeria Small Scale Industrialists, noted that a bag of 100kg of maize that used to sell for N60,000 last year by this time is now N90,000.
“That of white bean that sold for N75,000 is now N160,000.”
“We just have to wait and see what will happen when the harvest commences in a few weeks.”
(NAN)
News
Change Negative Narrative About EFCC Being Used For Settling Political Scores- Reps
………Ask Anti Graft Agency To Fight Financial Crimes Within Established Laws
.
……My Staff Are Poorly Paid, EFCC
…., States Why Fight Against Yahoo Boys Fierce
The House of Representatives has tasked the Economic and Financial Crimes Commission, EFCC, to purge itself from the negative impression that its being used to settle political scores and concentrate fighting financial and economic crimes within established laws.
The House handed the advise on Tuesday through the Chairman House Committee on Financial Crimes Honorable Ginger Onwusibe who led members of the committee on the 2024 oversight exercise on the commission.
The oversight covered extensive facility tour of departments and critical operational units of the antigraft agency.
In his terse remarks, Hon. Onwusibe challenged the agency to improve its operational activities in combating economic and financial crimes by complying with its 2004 Establishment Act and other relevant applicable laws like the Money Laundering ( Prevention and Prohibition) Act 2022: Terrorism ( Prevention and Prohibition) Act 2022: The Proceeds of Crime Act. 2022, as well as other statutes, that compels it to carry out these roles transparently with accountability and show that the negative maxim being peddled in some quarters that the agency is often being used for settling political scores is incorrect .
The committee assured that it will collaborate with the commission to actualize its mandate by enacting new laws or amending old ones and as well providing budgetary interventions, if it must strive tirelessly to be on top of its challenges
The House urged the agency to collaborate with sister agencies and desist from keeping suspects as- awaiting ‘trial in correctional centres nationwide
“At this point let me add that a recent visit to the Maximun and Minimun Correctional centres in Kirikiri Lagos State, numerous suspects have been awaiting trial for over one year and yet we are all acquainted with the saying that justice delayed is justice denied”
” It is on this note that we call on the EFCC, Attorney General of the Federation and the Judiciary to improve and ensure the administration of justice works and is efficiently delivered to the victims”
The House warned the agency to purge itself of rotten eggs in order to fight economic and financial crimes frontally, thereby stimulating the Nigerian economy
It also urged EFCC to focus properly on its mandate.
” The issue of appropriate and proper focusing on the mandate of the EFCC must relentlessly be on the front burner:
“Orders from competent courts , arrest and debt recovery must be pursued religiously” the House cautioned
But on its side, the antigraft agency said it has not deviated from its focus but rather working hard and fighting financial and economic crimes as enunciated in its mandate.
Chairman of the agency , Ola Olukeyede told his guest in his remarks during the oversight visit that the commission was doing much to fight financial and economic crimes and stimulate the Nigerian economy
He said so far that the agency has recovered over N250bn cash, tens of million of Dollars and other foreign currencies, with over 3000 convictions: 17000 petitions while also investigating over 20000,with about 4000 fresh cases , all being handled by a misery number of staff strenght
He noted that its priority is to improve the country’s image and stimulate its economy, such that there could be improvement in foregin direct investments and stimulation of the local economy.
Olukeyede however, argued that the agency needed more staff strenght, funding , better renumeration for staff because they were poorly paid. He also emphasised on modern day technology to fight the ever dynamic cyber criminals
According to the EFCC boss, it was important to give more salary to EFCC staff and deploy modern technology to fight emerging cyber crime dynamism . He expalined that the agency has increased efforts to fight Yahoo, yahhoo, boys because of their ability to crumble any economy within a twinkle of an eye
According to him, the agency was expanding its drag net to focus on ministries, departments and agencies infrastructural projects. ” “Go to MDAs and see their budget implementstion. It is not up to 20%”
“We want to ensure 50% infrastructural development” the anti graft boss announced, insisting that it would henceforth encourage monitoring of project implementation which was an aspect of preventing financial crimes
He said the agency has dismissed lots of erring staff, and will continue to dismiss and even prosecute them going forward.
Olukeyede disclosed that it had designed a template on staff integrity, using the Gift- Policy model
.” It is not every thankful gift we should collect” the EFCC boss warned
” I am advocating for more welfare improvement, better welfare, he said.
“We will do more recoveries, more convictions, but we need more resources to do our work, maintaining that, that was his stand on ethics and integrity .
Olokeyede’s demand for more salary wage for staff of the commission, is seen as an incentive to boost welfare and morale to fight financial crimes to standstill.
He stated that there was the utmost need to increase salaries of staff of the commission
The EFCC boss who spoke on his stewardship in the last one year, further added that it increased the war against Yahoo- Yahoo boys because of the consequences of their nefarious acts which could crumble a nation’s economy in a jiffy.
He argued that more technology was required to fight financial crimes.
For instance he explained that it was a common scenario then for thieves and armed robbers to attack and break into banks with guns and Dynamites
” But it is the same common and more easier scenario and task now to have Yahoo-Yahoo boys and bank thieves attack banks with technology in the comfort of their homes or hideouts”
“So we need technology and we also need to increase our fight against these Yahoo boys who can dismantle any economy within a twinkle of an eye
He called on the national Assembly to improve and increase its finances because fighting Financial crimes was a herculean task that requires adequate funding
Olokeyede who apparently was responding to criticisms of the commission’s over concentration on Cyber crimes/ thieves, perpetrated by Yahoo boys, said he has made tremendous impact in enforcement, investigation and conviction with an outstanding record convictions between October 2023 when he was appointed till date
News
Trouble looming for Obaseki as Gov Okpebholo orders probe of his admin
By Kayode Sanni-Arewa
Governor Monday Okpebholo of Edo State has ordered the setting up of a committee to probe the immediate-past administration of Godwin Obaseki for its failure to inaugurate 14 Edo Assembly lawmakers-elect into the 7th Assembly.
Okpebholo disclosed this while giving his inaugural speech as the new governor of the state.
Governor Okpebholo also ordered the State Chief Judge to immediately investigate the initial delay of former Governor Obaseki to inaugurate duly-cleared judges by the National Judicial Council (NJC) last year
News
Naira may depreciate to N1,993 against dollar – Report
By Kayode Sanni-Arewa
Nigeria’s naira has been projected to depreciate further to N1,993 per dollar in the coming days.
This is according to BMI, a Fitch Solutions subsidiary report title, ‘Weak Naira and Structural Challenges to Constrain Nigeria’s Medical Devices Market Growth’.
The report said the forecasted depreciation will be predicated on the 95 percent dependence on imports for pharmaceuticals in Nigeria.
According to the report, the development would erode both the health system and patient purchasing power.
“We expect that the naira will end 2028 at N1,993/$ from N306/$ in 2018.
“As the naira weakens, the cost of importing medical devices will continually increase, eroding both the health system and patient purchasing power, especially to invest in essential medical technologies given the underfunding of the public health sector,” the report stated.
This comes as Naira fell to N1681.42 and N1735 at the official and parallel foreign exchange markets on Monday.
This comes as FMDQ FX transaction turnover dropped significantly from $1.4 billion on Friday to $471.5 million on Monday.
Last Thursday, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, said the country’s external reserves rose to $40 billion.
Despite Central Bank of Nigeria’s interventions and external reserves rise in the last months, the naira has continued to experience fluctuations in the FX market.
-
Metro21 hours ago
ICPC Arraigns House Of Reps Ex-Member For Money Laundering
-
Foreign20 hours ago
President Trump Makes Several Key Appointments (FULL LIST)
-
Metro21 hours ago
Kidnap victim escapes abductors’ den in Delta
-
News13 hours ago
BREAKING! Heavy explosion rocks Jos
-
Entertainment21 hours ago
Wizkid creates dance challenge for his song ‘Dance’, fans react
-
News20 hours ago
Tinubu Acknowledges Unprecedented Hardship In Nigeria
-
Sports21 hours ago
Why Joseph Paintsil has withdrawn from Ghana squad for Angola, Niger games
-
News20 hours ago
Court Adjourns Agunloye Trial as EFCC Pushes to Amend Charges in Mambilla Power Project Case