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Obaseki Decries Persistent Inflation, Dollarization Of Nigeria’s Economy, Urges Urgent Economic Policy Review, Others

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Secretary to the Delta State Government, Dr. Kingsley Emu; MD/CEO, Sewa Resource Enterprise, Mrs. Angela Jide-Jones; Delta State Governor, Sheriff Oborevwori; his Ed0 State counterpart, Mr. Governor Obaseki, and Delta State Deputy Governor, Monday Onyeme, at the Delta State Executive Retreat 2023, held in Asaba, Delta State.

Governor Godwin Obaseki of Edo State has decried the surge in inflation and the dollarization of the nation’s economy.

Obaseki spoke while delivering his keynote address at the Delta State Executive Retreat 2023 with the theme, “Delivering the M.O.R.E Agenda for advancing Delta: Strategy and Enablers,” held in Asaba, Delta State.

According to Obaseki, “Everything we do today is based on the dollar exchange rate, and it’s like most of our existence depends on what we import. Imagine a Country of 200 million people that has to depend on an external economy.

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“We spend about $40 billion a year in this country and you would expect that it should be enough for any country to develop but no, today, we earn less but our demand for foreign exchange is more.

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“We spend about $2 billion paying school fees abroad, $3 million for healthcare treatment abroad, about $500 million buying milk and milk products, and about $10 billion importing food. We no longer earn dollars as we used to but the dollars keep going up. We will deal with inflation for a long time.”

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The governor who emphasised the need for deliberate steps to change the narrative, said, “Four years ago, it was a different world, a different country, and a different Delta State but things are different today regarding how we handle our development because COVID-19 has changed our thinking. Nobody envisaged that there would be a pandemic that will put the world on a standstill. So, it’s not advisable to continue to adopt the same method.

“The implication is that leaders across the world pumped money into the economy to keep the economy moving and this led to global inflation which we never had in many decades and centuries.

“States, and local governments all go and collect salaries and spend more than they earn from oil. They just collect money from Abuja to just share and no country develops like that.

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“The Federal Government has the responsibility of monitoring and fiscal policy. They can go the extra mile of printing money and spending what is not there. The Federal Government over the decade has perfected that and it got to a crisis point in the last administration in Nigeria.

“The nation has to deal with unprecedented levels of inflation. Inflation in Nigeria has gone up to almost 30 percent today. Who can borrow money and pay interest of 30 percent? It’s not possible. If you are not giving me 30 percent of my money, I am actually losing money. Can an economy operate like this at 30 percent? Who can borrow at 30 percent to do business and make a profit? It’s not possible.

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“By the time a State borrows at 30 percent, will it be able to pay back? It will spend most of its resources paying debt. What is frightening and worrisome is that we depend so much on dollars for our existence. The exchange rate is all we focus on. In Nigeria, we focus on the exchange rate instead of worrying about the interest rate because everything we do today is centered on the dollars.”

In his address, the governor of Delta State, Sheriff Oborevwori thanked Governor Godwin Obaseki for the insight, noting, “We are proud to have you in our midst as we consider it very important for you to participate and share your experience of over seven years as governor of Edo State.”

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Shatta Wale Bailed Burna Boy From Ghana Prison After Arrest For Smoking Weed – Captan

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Ghanian singer, Captan, has claimed that his former record label boss, Shatta Wale, once bailed Nigerian singer Burna Boy out of prison in Ghana after he was allegedly arrested for smoking weed.

Speaking in a recent podcast interview, Captan claimed that Shatta Wale sent him and others to free Burna Boy from police custody.

He also claimed that Shatta Wale and his group once accommodated Burna Boy when he was being hunted by some dangerous men.

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READ ALSO: Wale Edun Opens Up After Sack

Captan said, “I once bailed Burna Boy out of prison in Ghana when he was arrested for smoking weed. Shatta Wale sent me and some guys to go and free him from police custody.

“There was a time we also accommodated him when some people were after his life. We helped him settle the case.”

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He added that he and Burna Boy are no longer in good terms after the Nigerian artist’s fallout with his mentor, Shatta Wale.

He, however, said he and Shatta Wale are open to reconciling with Burna Boy if he asks for it.

Watch the video here

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Children’s Day: Chaos At Ogbe Stadium As Dozens Faint

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Chaos erupted on Wednesday during the Children’s Day celebration as dozens of students reportedly collapsed following a stampede triggered by the use of pepper spray.

The event,
organised by the Edo State Ministry of Education at the Samuel Ogbemudia Stadium was disrupted after some male students of Ihogbe College allegedly made uncompromising advances towards female students at the venue.

‎ A parent who identified himself as Oboh Emmanuel said, “the behaviour of those uncultured students attracted the attention of bouncers stationed at the stadium as they rebuked the male students.”

‎Oboh said the affected students later regrouped and attacked the bouncers, leading to a confrontation within the crowded arena.

READ ALSO:Children’s Day: Edo Commits To Child Protection

It was gathered that in the ensuing confusion, the bouncers were reported to have deployed pepper spray in an area occupied by a large number of students.

‎Several students, particularly female students, reportedly fainted after inhaling the substance, while others sustained injuries after being stepped on during the ensuing melee.

‎The panic was said to have spread across the stadium as students, teachers and parents scampered for safety.

‎Many of the affected students were reportedly rushed to the Edo Specialist Hospital for medical attention.

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Reacting to the incident, Chief Press Secretary to Governor Monday Okpebholo, Dr Patrick Ebojele, said the security personnel that fired the tear gas had been detained.

He said all the students, except two, that were rushed to the hospital have been discharged.

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Ebojele stated that doctors wanted to observe the students till tomorrow before allowing them to go home.

The two students are not seriously injured. Doctors want to observe them overnight. Permanent Secretary, Ministry of Education is still at the hospital. The man who used pepper spray has been detained.

“The incident did not happen the way it is being exaggerated. All modalities were put in place to ensure the children enjoyed their day.”

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Okpebholo Salutes Edo Muslims, Seeks Continued Support, Prayers

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Governor Monday Okpebholo of Edo State has urged Muslims and all Nigerians to continue to pray for peace, unity and progress in the country even as they celebrate the annual Eid-al-Adha

The governor, who was represented by his deputy, Dennis Idahosa, stated this during the annual Eid-al-Adha celebration with Muslim faithfuls held at Government House in Benin City.

He reiterated his administration’s commitment to fairness, inclusivity and equal opportunities for all citizens irrespective of religion and tribe.

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READ ALSO:ADC Penetrates Okpebholo’s District As Defections Strengthen Party in Edo Central

According to him, the present administration remains determined to building a government that reflects the diversity of Edo State, noting that competent and qualified Muslims have continued to play vital roles in his government because of their capacity, integrity and commitment to service.

“As a government, we remain committed to fairness, inclusivity and equal opportunity for every Edo citizen, irrespective of religion, ethnicity or political affiliation. This is why quality and competent Muslims are serving in key positions in our administration.”

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Okpebholo appreciated the Muslim community in Edo State for their unwavering support and continuous prayers for his administration, noting that such prayers and support have contributed immensely to the peace and steady development being witnessed across the state.

READ ALSO:Okpebholo Felicitates Muslims On Eid-el-Fitr Celebration

He then called on all Nigerians to use the occasion of Eid-al-Adha to pray for the administration of President Bola Ahmed Tinubu, stressing that the country needs collective prayers, unity and cooperation to overcome its present economic and security challenges.

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I urge all Muslims and indeed all Nigerians to use this occasion to pray for our dear nation and for the administration of President Bola Ahmed Tinubu. Nigeria needs our collective prayers, unity and support as we strive to overcome our challenges and build a more prosperous future for all.”

In his remarks, the Chief Imam of Edo State, Abdulfatai Enabulele, applauded the governor for what he described as remarkable developmental strides recorded in less than two years in office.

The cleric commended the administration for ongoing infrastructural development and efforts geared towards improving governance in the state, but appealed to the government to revisit and complete some abandoned projects inherited from the previous administration for the benefit of the people.

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