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Inflation dragged many people into poverty in 2024 — Gov Makinde
Governor Seyi Makinde of Oyo State has disclosed that inflation rates reduced spending power and dragged many Nigerians into poverty in 2024.
Makinde made this declaration in his New Year message aired on the Broadcasting Corporation of Oyo State (BCOS) on Wednesday.
The governor, while addressing residents of the state, disclosed that Nigeria struggled with economic challenges throughout the just-concluded year.
He maintained that inflation rates reduced the people’s spending power and dragged more people into poverty.
Makinde, while speaking further, said that his government will do more for the people of the state in 2025.
He added that his administration would embark on decisive actions that would increase residents’ spending power and ease the economic strains they are currently facing.
The governor also stated that his administration would enforce the rule of law across different sectors.
He warned that more stringent measures would be taken against traffic offences in the state.
Makinde, while speaking further, maintained that the year 2024 tested the resilience of the people of the state.
He said: “What a year 2024 was! Our resilience as a people has been tested almost to the limit. We have faced economic challenges and social tragedies that have been the direct or indirect result of these challenges.
“We were shocked by the January 16, 2024, Bodija incident. We reacted by signing Executive Order 001, 2024, on the safe handling and storage of harmful substances in Oyo State. We also took steps to give support to those who were primarily affected by this incident. We will give them even more support in 2025.
“In December 2024, disaster again struck in our dear state as we lost 35 children to a stampede at Islamic High School, Basorun. We are still mourning this great loss.
“Throughout the year, we struggled with economic challenges as a nation. Inflation rates reduced our spending power and dragged more people into poverty than we were able to help escape poverty. Our hearts are heavy. Still, we are thankful. These tragedies have forced us as a government to go back to the drawing board and take a second look at our strategies, policies, and programmes.
“For example, following the Bodija incident, we took actions that further secured the lives of our people. We are more determined to put further measures in place to ensure that incidents like these never occur again.”
According to him, such financial mishandling not only disrupts critical public services and projects but also results in major losses to the nation’s purse—resources that could have been channelled into crucial services and developmental efforts, as laid out in Section 14(2)(b) of the Constitution.
Speaker Abbas, thereafter setup a Special Committee to be chaired by Rep. Chinedu Martins to immediately launch a probe into the “Utilisation of take-off grants, bailout funds, and interventions allocated to MDAs, government institutions, and GOEs from 2015 to present.”
The FCT Minister, Mr. Nyesom Wike, expressed satisfaction with the progress on the Abuja light rail project, reaffirming its May 29 delivery as sacrosanct.
He made these assurances after inspecting the ongoing construction of access roads to the train stations on Wednesday, from Metro Train Station in the Central Area to Nnamdi Azikiwe International Airport, Abuja.
Reassuring journalists accompanying him, the minister reiterated that President Bola Tinubu would commission the rail project on May 29 to mark his second year in office.
The visited stations were Wupa station near Idu and Bassanjiwa station near the airport.
“This is part of our routine inspection of ongoing projects to see the contractors’ progress,” Wike explained.
“We are working day and night to fulfill our promise to President Tinubu and FCT residents. By May, Mr. President will ride on the Metro line.”
Gunmen suspected to be Fulani herdsmen are currently invading some communities in the Ukum Local Government Area of Benue State.
According to sources, the herdsmen armed with AK-47 rifles stormed the community around 04:15pm on Thursday.
“Our lives are in danger this evening, armed Fulani herdsmen, about 600 in numbers have taken over our communities this evening,” a resident told SaharaReporters.
“They’re currently moving around towns in Ukum Local Government Area of Benue state. No security personnel at all, Governor Alia didn’t send security, they said operation will start soon once they (herders) have observed the place.”
The insecurity situation in Benue has been alarming in recent weeks with attacks from gunmen suspected to be herdsmen.
The media had reported that suspected herdsmen again unleashed terror in Benue State, attacking three communities in Otukpo Local Government Area (LGA) on Wednesday, just a day after 11 people were killed in a deadly raid on Otobi community.
The latest victims of the escalating violence were Emichi, Odudaje, and Okpamaju, communities that had previously suffered an attack in February, which left five people dead.
However, the renewed attack has created fear and mass displacement among residents, with women and children fleeing to safety.
Local sources say the death toll from the fresh attack remains unclear, but several casualties are feared.
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