Headline
Obaseki Links Rising Inflation To Nation’s Inability To Produce, Export
Published
12 months agoon
By
Editor
Governor Godwin Obaseki of Edo State has linked Nigeria’s persistent rising inflation to the country’s inability to consistently produce and export goods and services, noting that the trend continues to affect the nation’s economy negatively.
Obaseki said this while receiving representatives from the World Bank led by the organization’s Task Team Leader (TTL) for the Agro-Processing, Productivity Enhancement, and Livelihood Improvement Support (APPEALS) Project in Nigeria, Manievel Emmanuel Sene, who were on a courtesy visit at the Government House, Benin City, the Edo State capital.
Other members of the group at the entourage of the World Bank delegation include the Commissioner for Agriculture and Food Security, Hon. Stephen Idehenre; his Permanent Secretary and staff from his Ministry, and the National Project Coordinator Livestock Productivity and Resilience Support Project (L-PRES) Sanusi Abubakar, among others.
The team is in Benin City for the 3rd World Bank implementation mission.
The governor noted that the greatest problem of Nigeria is that the country is not producing enough for importation with no import buffers.
He said, “Nigerians are in a dire situation and one reason why we are having high food inflation is because of low production as we don’t have any foreign exchange anywhere to substitute with imports. We are not producing enough; that is the greatest problem facing Nigeria.
“Whatever we are producing is very low as a Country and people now don’t have import buffers anymore. When you fly into Countries around the world, from their airspace you will see farm demarcation but the same can’t be said of Nigeria.”
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Obaseki, while noting that the state is a hub in the country, said the reforms in the last seven and a half years are geared towards repositioning the state for economic growth and development, ensuring the influx of investors to boost the internally generated revenue.
Obaseki added, “Commercialization is important to us so that when we produce, there is a ready market and linkage of the product to those that need it. I want to know and see those real farmers producing in the State, what they are producing and the size of the market.
“We have people who have invested, but they are not making money not because there is no demand but the capacity and sincerity to go ahead. We have given people money for livestock farming but it failed. It’s not about money again but capacity and sincerity.”
The World Bank Task Team Leader said the Bank focused on three outcomes which include productivity, commercialization and resilience.
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A mass shooting at a secondary school in Austria’s second-largest city has left nine people dead and at least 10 others injured in what authorities are calling one of the country’s worst school attacks in recent history, Al-Jazeera reported.
Police were called to BORG Dreierschutzengasse school in Graz on Tuesday morning after reports of gunfire. Emergency services responded swiftly and secured the area.
Authorities later confirmed that the suspected shooter had died by suicide, bringing the total number of dead to ten, including the attacker.
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According to local officials, at least seven of those killed were students. Graz Mayor Elke Kahr described the shooting as a “terrible tragedy.” One adult was also among the dead, though their identity has not yet been released.
The incident reportedly began shortly after 10 a.m. local time and unfolded across two classrooms. Students, many aged 14 and older, were evacuated and are now receiving psychological support alongside their families.
The attacker is believed to have acted alone and is reported to be a former school student. The motive behind the shooting remains unclear.
Headline
17 Palestinians Killed In Israeli Strikes Near Gaza Aid Site
Published
40 minutes agoon
June 10, 2025By
Editor
At least 17 Palestinians were killed and dozens more injured on Tuesday near a humanitarian aid distribution site in central Gaza, according to local health authorities as reported by Reuters.
The casualties reportedly occurred as large crowds of displaced residents gathered in the area to receive aid.
The deaths were attributed to Israeli gunfire by Gaza’s health officials.
The Israeli military said its forces had fired warning shots at “suspects who were advancing in the area of Wadi Gaza and posed a threat to the troops.”
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It added that it was aware of reports that several were injured, but said numbers released by local health authorities did not align with the information it had collected.
“The warning shots were fired hundreds of meters from the aid distribution site, prior to its opening hours and toward the suspects who posed a threat to the troops,” the military added.
Medics confirmed that those injured were transported to Al-Awda Hospital in the Nuseirat refugee camp and Al-Quds Hospital in Gaza City.
The Israeli military contested the reported casualty figures but acknowledged that several people were wounded during the incident.
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The shooting occurred in an area where the military has labelled a hazardous zone for its personnel.
This came after a warning issued last week by the Israeli army, advising Palestinians to avoid roads leading to Gaza Humanitarian Foundation sites between 6 p.m. and 6 a.m., which were designated as “closed military zones.”
The incident adds to growing concerns over civilian safety amid ongoing conflict in Gaza. Just last week, at least 27 Palestinians were reported killed near another aid site in Rafah, also by Israeli fire.
That event marked the third consecutive day of disruption to aid operations, according to local health officials.
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“Day after day, casualties & scores of injured are reported at distribution points manned by Israel & private security companies,” Philippe Lazzarini, the chief of the United Nations Palestinian refugee agency (UNRWA), wrote on X.
“This humiliating system continues to force thousands of hungry & desperate people to walk for tens of miles excluding the most vulnerable & those living too far,” he said.
The war erupted after Hamas-led militants took 251 hostages and killed 1,200 people, most of them civilians, in the Oct. 7, 2023, single deadliest day.
Israel’s military campaign has since killed more than 54,000 Palestinians, most of them civilians, according to health authorities in Gaza, and flattened much of the coastal enclave.
AFP
Headline
Britain’s Jobless Rate Climbs To 4.6% As Economy Weakens
Published
1 hour agoon
June 10, 2025By
Editor
Britain’s unemployment rate has reached its highest level since July 2021, according to official data released on Tuesday, following a UK tax rise and the implementation of US tariffs.
The rate climbed to 4.6 percent in the three months to the end of April, according to the Office for National Statistics.
That compared with 4.5 percent in the first quarter of this year, the ONS added.
Tuesday’s data covers the start of a hike in business tax laid out in the Labour government’s inaugural budget last October.
April also saw the beginning of a baseline 10-percent tariff imposed on the UK and other countries by US President Donald Trump.
“There continues to be weakening in the labour market, with the number of people on payroll falling notably,” said ONS director of economic statistics Liz McKeown.
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“Feedback from our vacancies survey suggests some firms may be holding back from recruiting new workers or replacing people when they move on.”
Analysts said the data, which included slowing growth to wages, would likely see the Bank of England continue to cut interest rates into 2026, weighing on the pound but lifting London’s stock market in early trade on Tuesday.
“With payrolls falling, the unemployment rate climbing and wage growth easing, today’s labour market release leaves us more confident in our view that the Bank of England will cut interest rates further than investors expect, to 3.50 percent next year,” noted Ruth Gregory, deputy chief UK economist at Capital Economics research group.
The Bank of England last trimmed borrowing costs in May by a quarter point to 4.25 percent.
AFP
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