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Nigerians Pay More For Transport, Food In June — NBS

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The National Bureau of Statistics, NBS, said the average fare paid by committees for bus, motorcycle, air and water journeys continue to increase in June when compared to the May figures.

Similarly, the prices of beef, tomatoes and local rice sold loose increased month-on-month (MoM) during the review period.

In its Transport fare watch for June, NBS said: “The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 percent from N649.59 in May 2023 to N1,285.41 in June 2023.

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“In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09 percent on a MoM basis compared to N4,002.16 in May 2023.

“In air travel, the average fare paid by air passengers for specified routes’ single journey increased by 4.93 percent from N74,948.78 in May 2023 to N78,640.54 in June 2023.

“The average transport fare paid on Okada transportation was N618.52 in June 2023 which was 33.14 percent higher than the rate recorded in May 2023 (N464.55).

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“For water transport (waterway passenger transportation), the average fare paid in June 2023 increased to N1,366.22 from N1,045.15 in May 2023.”

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On food prices, NBS in its Selected Food Price Watch for Junesaid : “Selected Food Price Watch for June 2023 shows that the average price of 1kg of Beef boneless stood at N2,653.02 in June 2023.

“This indicates a growth of 27.5 percent on a year-on-year basis from N2,079.93 recorded in June 2022 and a 5.26 percent rise on a MoM basis from N2,520.52 in the previous month.

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” Also, the average price of 1kg of Tomato increased by 24.8 percent on a year-on-year basis from N438.33 in June 2022 to N547.28 in June 2023.

“On a MoM basis, the average price of the product increased by 9.8 percent .

“The average price of 1kg of Rice local (sold loose) rose by 32 percent on a year-on-year basis from N460.17 in June 2022 to N608.20 in June 2023.

“On a month-on-month basis, it increased by 9.5 percent from N555.18 in May 2023.

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Banditry: Niger Speaker To Marry Off 100 Female Orphans

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The Speaker of the Niger State House of Assembly, Abdulmalik Sarkindaji, has announced plans to marry off 100 female orphans who lost their parents to banditry attacks in Mariga Local Government Area.

Sarkindaji disclosed this to journalists in Minna, the state capital on Friday.

The Speaker pledged to pay the dowries for the bridegrooms and has procured all necessary materials for the mass marriage ceremony.

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Accordingly, the girls who would be married off were carefully selected from the 170 girls whose names were submitted. Sarkindaji stated, without disclosing the age range of the orphaned girls.

READ ALSO: Court Stops Speaker, 24 Others Loyal To Wike From Parading As Assembly Members

The Speaker, who represents the Mariga Constituency, described the initiative as part of his constituency empowerment project, “aimed at alleviating the suffering of the impoverished.”

Sarkindaji revealed that the Niger State Governor, Mohammed Umar Bago, and the Emir of Kontagora, Alhaji Mohammed Barau, would serve as guardians to the female orphans during the mass marriage ceremony.

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The Kano State Commander General of the Hisbah Board, Sheikh Aminu Daurawa, is expected to attend the event, slated for May 24 at Bangi, the headquarters of Mariga Local Government Area.

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Edo Poll: Reason Ex-Speaker Resigns From PDP Revealed

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Former Speaker of the Edo State House of Assembly, Francis Okiye, has resigned his membership of the Peoples Democratic Party with immediate effect.

Okiye, a former governorship aspirant of the PDP officially joined the party in October 2020 after he, among others, defected from the All Progressives Congress.

In his resignation letter dated May 10, 2024, and addressed to the Chairman, PDP, Ward 3, Arue, Uromi, Esan North-East Local Government, Okiye, said his decision stemmed from the alienation of the majority of his constituents and supporters by the state government under Governor Godwin Obaseki from the activities and programmes of the party and the government of the state.

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Okiye said, “I have resigned my membership of the PDP as of May 10, 2024, and I have communicated the same to the PDP through my ward chairman.

“My decision stemmed from the alienation of the majority of my constituents and supporters by the state government under Governor Godwin Obaseki from the activities and programmes of the party and the government of the state.

“As if that is not enough, the party candidate has declared that he would continue with the governor’s principle should he win the September election. Other reasons why I quit the party are personal to me.”

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He was, however, silent on his next political move.

 

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EFCC Stops Dollar Transactions, Asks Embassies To Charge In Naira

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The Economic and Financial Crimes Commission has read the Riot Act to foreign missions based in Nigeria, banning them from transacting in foreign currencies, and mandating the use of Naira in their financial businesses.

The EFCC has also mandated Nigerian foreign missions domiciled abroad to accept Naira in their financial businesses.

The move, the EFCC noted, is to tackle the dollarisation of the Nigerian economy and the degradation of the naira

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The anti-graft commission, in an advisory to the Minister of Foreign Affairs, Ambassador Yusuf Tuggar, titled: “EFCC Advisory to Foreign Missions against Invoicing in US Dollar,” expressed reservations and displeasure “regarding the unhealthy practice by some foreign missions to invoice consular services to Nigerians and other foreign nationals in the country in United States dollar(s).”

In a letter dated April 5, 2024, which was addressed to the Minister of Foreign Affairs, Ministry of Foreign Affairs, the EFCC Chairman, Ola Olukoyede expressed dismay over the invoicing of consular services in Nigeria by foreign missions in dollars.

READ ALSO: Cleric Arrested For Defiling Three Minors In Kwara

The EFCC cited Section 20(1) of the Central Bank of Nigeria Act, 2007, which makes currencies issued by the apex bank the only legal tender in Nigeria.

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The letter read, “I present to you the compliments of the Economic and Financial Crimes Commission, and wish to notify you about the commission’s observation, with dismay, regarding the unhealthy practice by some foreign missions to invoice consular services to Nigerians and other foreign nationals in the country in United States dollar ($).

“This practice is an aberration and unlawful as it conflicts with extant laws and financial regulations in Nigeria. Section 20(1) of the Central Bank of Nigeria Act, 2007 makes currencies issued by the apex bank the only legal tender in Nigeria.

“It states that ‘the currency notes issued by the Bank shall be the legal tender in Nigeria on their face value for the payment of any amount’.

READ ALSO: BREAKING: Reps To Probe Lagos-Calabar Coastal Highway Procurement Process

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“This presupposes that any transaction in currencies other than the naira anywhere in Nigeria contravenes the law and is, therefore, illegal.”

The commission added that the refusal by some missions to accept the naira for consular service in Nigeria and also comply with the foreign exchange regulatory regime in fixing the exchange of the cost of their services is not only illegal but represents an affront to the country’s sovereignty symbolised by the national currency.

Such a situation, EFCC added, undermines Nigeria’s monetary policy and aspiration for sustainable economic development.

The letter continued, “This trend can no longer be tolerated, especially in a volatile economic environment where the country’s macroeconomic policies are constantly under attack by all manner of state and non-state actors.

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“In light of the above, you may wish to convey the commission’s displeasure to all missions in Nigeria and restate Nigeria’s desire for their operations not to conflict with extant laws and regulations in the country.”

READ ALSO: Why We Took Over Rivers Assembly Quarters – Police

When contacted for comments, the spokesperson for the EFCC, Dele Oyewale declined comments.

Meanwhile, the EFCC had resumed raiding in a bid to stabilise the naira.

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Operatives of the EFCC had on Tuesday arrested some Bureau De Change operators at the popular Wuse Zone 4 market in the Federal Capital Territory, Abuja.

However, traders also said some BDC operators resisted the arrest during a sting operation.

The operatives had embarked on routine raids to sanitise the market of street traders and eliminate arbitrary trading.

But this move was resisted on Tuesday, leading to gunshots and damage to the operatives’ vehicles.

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Penultimate week, the commission arrested over 35 suspected currency speculators for alleged foreign exchange fraud.

Last week, it also paraded over 20 BDC operators arrested in the capital city.
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