News

Let Your Prices Reflect Naira’s Improvement, CNG Tells Business Owners

Published

1 year ago

March 29, 2024

Editor

The Coalition of Northern Groups, CNG, has asked business owners to reflect the naira’s improvement against the dollar on the prices of the products they market.

A statement by the National Coordinator, CNG, Comrade Jamilu Aliyu Charanchi, expressed support for genuine efforts to strengthen and stabilize the naira and bring back its value against the dollar.

However, the Group lamented over the reluctance of businesses to review their prices and adjust accordingly.

They said, “The CNG acknowledges some appreciable commitment to addressing economic challenges resulting from the naira’s instability against the dollar, which negatively impacted Nigerians’ purchasing power.

“However, the CNG expresses disappointment over the reluctance of businesses to reflect the current improvement in the naira by adjusting their prices, similar to how they did when the naira was floated.

“We are saddened to admit that despite sustained gains by the naira, including in the black market, exorbitant prices of goods and services remain prevalent across Nigeria.

“The CNG is deeply concerned about the current skyrocketing prices, which evidently expose some businesses as sworn enemies of Nigeria and Nigerians, despite claims for the contrary.

“The CNG emphasizes that businesses must take positive steps to reciprocate the naira’s stability by lowering the price of their products for the benefit of the common man. Failure to do so may constitute deliberate economic sabotage and exploitative tendencies against Nigerians.

“Businesses in Nigeria have moral and economic obligations to contribute to the overall well-being of Nigerians, which includes lowering prices to allow citizens to fully benefit from the strengthened naira.

“The CNG calls upon these businesses to reconsider their pricing strategies that are inimical to stabilizing the economy to alleviate the pangs of hunger and financial burdens faced by many Nigerians and

“Although profit is essential for any business, it should not come at the expense of Nigerians’ rights and privileges, which businesses must respect to enjoy a friendly business environment.

“The CNG believes that businesses should support initiatives aimed at controlling inflation and supporting consumers in line with best ethical business practices that encourage shared prosperity for all and sundry.

“Business entities must note that neither the country nor their businesses can achieve a sustainable growth and development when Nigerian masses continue to wallow in hunger and starvation.

“While the government has made strides in stabilizing and strengthening the naira, prices of goods and services have remained unchanged after their hikes due to a weaker naira.

“Hence, businesses must support efforts to stabilize the economy and recalibrate new prices in tandem with the current realities in the interest of all.

“The CNG calls on all stakeholders, including businesses, to take necessary actions that align with the greater interest of Nigerians for a stable economy that provides food for the downtrodden while allowing businesses decent returns on their investments.”

While we specifically acknowledge the efforts of the Office of National Security Adviser (NSA), Central Bank of Nigeria (CBN), and other relevant agencies in achieving this milestone, the CNG stresses that efforts should be sustained until a dollar is brought below ₦1000 for Nigerians to cope with the current economic challenges.

“Furthermore, the government, through the instruments of NSA and CBN, must continue in their efforts to maintain this momentum and implement further measures that will enhance the lives and livelihoods of all Nigerians without fear or favour.

“We at the CNG, suggests that government’s commitment to improving economic conditions should be matched with closer surveillance of major business conglomerates engaging in ethically abhorrent business practices that stifle economic mobility of the majority of Nigerians.

“The CNG, therefore, remains committed to advocating for the welfare of northern Nigerians and encourages all businesses in Nigeria, especially those in the north, to engage in responsible and transparent business practices.”

News

PHOTOS: Brazil Welcomes Tinubu With Full Military Honours In Brasília

Published

13 hours ago

August 25, 2025

Editor

Brazil on Monday rolled out full military honours at the Planalto Palace in Brasília to receive President Bola Tinubu.

Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga, disclosed this on X on Monday.

Onanuga said Tinubu was welcomed by his host, President Luiz Inácio Lula da Silva.

He wrote, “More photos of the official reception for President Tinubu at the Planalto Palace in Brasília, Monday, August 25, 2025. Brazil’s President Luiz Inácio Lula da Silva welcomed President Bola Tinubu with full military honours.”

News

Tinubu Signs Direct Flight, Other Agreements With Brazil

Published

13 hours ago

August 25, 2025

Editor

President Bola Ahmed Tinubu has signed a landmark Bilateral Air Service Agreement with Brazil, signalling the establishment of direct air links between Nigeria and South America’s largest economy.

The agreement was formalised on Monday during Tinubu’s official state visit to Brasília.

Media aide to the minister, Tunde Moshood, made this known through a statement, made available to The PUNCH.

At the signing ceremony which was witnessed by Messrs Nigerian President, Tinubu and the Brazilian President Luiz Inácio Lula da Silva in Brasilia also had the Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, signed the agreement on behalf of Nigeria, while Brazil’s Minister of Transport, Silvio Costa Filho, also signed for the host country.

The BASA creates a new framework for direct flights between Nigeria and Brazil, with the potential to significantly enhance trade, tourism, investment, and diplomatic relations.

The statement further noted that, “ It also marks a key step in Nigeria’s broader efforts to strengthen international partnerships and improve global connectivity.”

Tinubu had arrived in Brazil with a delegation that included Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of State for Foreign Affairs, Bianca Ojukwu; Minister of Agriculture and Food Security, Abubakar Kyari; and other senior government officials.

According to the statement, the Brazilian President welcomed the agreement, expressing his administration’s commitment to expanding cooperation with Nigeria in sectors such as aviation, agriculture, and infrastructure.

He described the BASA as a reflection of the strong ties between both countries and an opportunity to deepen economic and cultural collaboration.

Tinubu is also scheduled to hold meetings with key Brazilian government officials, including the President of the Senate, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

The two-day visit will include high-level discussions between Nigerian and Brazilian delegations across various sectors, as both nations explore opportunities for mutual growth and development.

The statement reads, “The ongoing state visit will also see President Tinubu meeting the President of the Brazilian Senate at the National Congress, the President of the Chamber of Deputies, and the President of the Supreme Federal Court.

“The working visit, which continues tomorrow, will also feature high-level engagements between Nigerian and Brazilian delegations across various sectors, underscoring both nations’ commitment to building a future of mutual growth and prosperity.”

News

NAFDAC Warns Of Fake Postinor-2 In Circulation

Published

13 hours ago

August 25, 2025

Editor

The National Agency for Food and Drug Administration and Control on Monday issued a public alert, warning the public about confirmed counterfeit batches of Postinor-2 (Levonorgestrel 0.75 mg) now circulating in Nigeria.

The alert follows a report from the Society for Family Health, the marketing authorisation holder, confirming that they did not import the suspect batches.

Postinor-2 (Levonorgestrel 0.75mg) is a brand of emergency contraceptive pill containing the active ingredient levonorgestrel.

NAFDAC revealed there are noticeable labelling discrepancies between the authentic and fake products.

It said, “The National Agency for Food and Drug Administration and Control (NAFDAC) hereby notifies the public of falsified Type 1 and 2 batches of POSTINOR 2 (Levonorgestrel 0.75mg) product in circulation.

“The noticeable difference was found to be as follows: The font size of the text on the pin verification sticker appears smaller and has a wrong spelling of the word Veify instead of Verify on the fake; meanwhile, the text font on the sticker of the original appears bigger and more visible. There is also a wrong spelling behind the pack of the fake “Distnibuted in Nigeria” instead of distributed in Nigeria”, NAFDAC said.

NAFDAC identified the original Postinor-2 as batch T32458H, manufactured in February 2023 with an expiry date of February 2027 and registration number 04-6985.

The agency, however, confirmed two falsified versions: Counterfeit Product (Type 1), batch T36184B, manufactured in August 2024 with an expiry date of August 2028; and Counterfeit Product (Type 2), batch 332, manufactured in March 2023 with an expiry date of February 2027, both carrying the registration number 04-6985.

It said that due to the potential presence of incorrect, substandard, or harmful ingredients, improper dosages of levonorgestrel, and a lack of sterile manufacturing conditions, poses significant risks to individual health and public safety.

“The risks of administering falsified Postinor 2 (Levonorgestrel 0.75mg) include failure of contraceptive effect, toxic or harmful contaminants, unpredictable side effects, delayed or missed opportunity for genuine emergency contraception, and potential long-term reproductive health impact. Unexpected side effects: Unknown substances can trigger allergic reactions, organ damage, or death.

“Counterfeit medicines are unregulated, untested, and illegal, making their safety and efficacy impossible to guarantee. Patients should only obtain Postinor-2 from verified pharmacies or licensed healthcare providers.

“Although Investigations are still ongoing regarding the source of the falsified product, all NAFDAC zonal directors and state coordinators have been directed to carry out surveillance and mop up the falsified product of type 1 and 2 postinor 2 (Levonorgestrel 0.75mg) within the zones and states,” it added.

NAFDAC urged consumers and healthcare providers to verify PIN stickers carefully, report suspected counterfeit products, and always purchase medications from reputable sources.