IYANDA'SBLOG

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The Amazon founder's ex-wife said she chose 286 teams 'empowering voices the world needs to hear'.

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How might the UK and EU compromise on the Northern Ireland protocol?

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Three prominent Europeans assess how Joe Biden's talks with European leaders have gone.

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The BBC charts the dramatic changes and challenges facing the country as it goes to the polls.

A deadly group of vigilantes in the South-East, Bakassi Boys, after years of redundancy, has returned to some areas of Awka, Anambra State capital, Daily Trust reports.

Their members were viewed in two moving vans, singing and warning criminals, but who brought them could not be ascertained.

When contacted, the Police Public Relations Officer in the state, Ikenga Tochukwu, said he was not aware of the development.

He said, “I received this as information from you. I don’t have any such details before me. Meanwhile, I will make enquires, please."

But the police spokesman quickly added, “We are ready to work with any stakeholder in security," when responding to the question as to whether the police would partner with such a group.

Meanwhile, a source said, “The boys came primarily for alleged cult groups which have taken over Awka town in recent time without any response from the police. I think they were invited by traders.”

A senior police officer, who spoke on condition of anonymity, said some security men had stormed the state, but failed to confirm if they were sent by the government.

The source said, “That is the only thing I can tell you, for now. Let’s see how things work out in the days and weeks to come.”

The Bakassi Boys are usually armed with machetes and guns, with all manner of charms worn around their body.

They have been accused of extrajudicial killings.

Their targets are petty thieves, armed robbers, ritual killers, murderers, corrupt persons, and generally, anyone considered evil.

Insecurity News AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 
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A deadly group of vigilantes in the South-East, Bakassi Boys, after years of redundancy, has returned to some areas of Awka, Anambra State capital, Daily Trust reports.

Their members were viewed in two moving vans, singing and warning criminals, but who brought them could not be ascertained.

When contacted, the Police Public Relations Officer in the state, Ikenga Tochukwu, said he was not aware of the development.

He said, “I received this as information from you. I don’t have any such details before me. Meanwhile, I will make enquires, please."

But the police spokesman quickly added, “We are ready to work with any stakeholder in security," when responding to the question as to whether the police would partner with such a group.

Meanwhile, a source said, “The boys came primarily for alleged cult groups which have taken over Awka town in recent time without any response from the police. I think they were invited by traders.”

A senior police officer, who spoke on condition of anonymity, said some security men had stormed the state, but failed to confirm if they were sent by the government.

The source said, “That is the only thing I can tell you, for now. Let’s see how things work out in the days and weeks to come.”

The Bakassi Boys are usually armed with machetes and guns, with all manner of charms worn around their body.

They have been accused of extrajudicial killings.

Their targets are petty thieves, armed robbers, ritual killers, murderers, corrupt persons, and generally, anyone considered evil.

Insecurity News AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 
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The apex Igbo socio-cultural group, Ohanaeze Ndigbo Worldwide has clarified its stance over secessionist agitations in the South-East region.

In a statement issued by its Secretary-General, Okechukwu Isiguzoro, the group said the silence of Igbo leaders does not mean support for the proscribed Indigenous People of Biafra (IPOB) nor the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB).

Ohanaeze Ndigbo

The group noted that the agitations were borne out of frustrations from the Nigerian Government's discrimination against the people of the South-East.

Ohanaeze said though it is not in support of the agitations, it is also dissatisfied with the negligence of the Nigerian government, which it described as combat-ready when there is any slight hint of conflict of interests in southeastern Nigeria but sluggish in the North.

The statement read, "Ohanaeze Ndigbo Worldwide had dismissed Northern Elders' contentions of possibilities that the silence of Igbo leaders in the ongoing provocative onslaught in Southeastern Nigeria, reflected support for IPOB and MASSOB, describing it as 'fallacies and myth' craftily designed for sinister motives by anti-Igbo exponents.

”Contrary to popular beliefs of Northerners on secessionist campaigns, the popularity of Biafra agitation by Igbo youths is based on the fallout of the systematic frustrations of the Federal Government's discrimination against Southeastern Nigeria.

“Unlike most Nigerian youths, Igbo youths are subjected to untold hardship, especially in this COVID-19 worsening economic era. In every 10 unemployed people, 6 are Igbo youths, traders amongst them are frustrated either by unfriendly government policies or host communities animosities.

“Igbo leaders are not happy with the 'I-don't-care attitude' of the Presidency, all the lamentations of South-East marginalisation appears to have fallen on deaf ears of the Presidency, as the Federal Government appears to be combat-ready in any slightest hint of conflict of interests in southeastern Nigeria but appears powerless to the full-scale insurgency in Northern Nigeria.

“These two postures of Federal Government, being brutal in the Southeast and sluggish in the North, the two-faced behaviours of Federal authorities are the reason for secessionist turmoils in Middle Belt, South-East and South-West regions.

“Igbo leaders and governors are not behind IPOB and are unhappy with the attacks on police formations and government facilities, but the happenings in southeastern Nigeria appear to be 'the hands of Esau and the voice of Jacob', it's sponsored solely to blackmail the South-East Presidency and portray that Igbos should not be trusted with political power in 2023.

“Unfortunately for them, all anti-Igbo exponents are (unknowingly) playing a historical role in the fulfilment of Nigerian President of Igbo Extraction 2023."

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The apex Igbo socio-cultural group, Ohanaeze Ndigbo Worldwide has clarified its stance over secessionist agitations in the South-East region.

In a statement issued by its Secretary-General, Okechukwu Isiguzoro, the group said the silence of Igbo leaders does not mean support for the proscribed Indigenous People of Biafra (IPOB) nor the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB).

Ohanaeze Ndigbo

The group noted that the agitations were borne out of frustrations from the Nigerian Government's discrimination against the people of the South-East.

Ohanaeze said though it is not in support of the agitations, it is also dissatisfied with the negligence of the Nigerian government, which it described as combat-ready when there is any slight hint of conflict of interests in southeastern Nigeria but sluggish in the North.

The statement read, "Ohanaeze Ndigbo Worldwide had dismissed Northern Elders' contentions of possibilities that the silence of Igbo leaders in the ongoing provocative onslaught in Southeastern Nigeria, reflected support for IPOB and MASSOB, describing it as 'fallacies and myth' craftily designed for sinister motives by anti-Igbo exponents.

”Contrary to popular beliefs of Northerners on secessionist campaigns, the popularity of Biafra agitation by Igbo youths is based on the fallout of the systematic frustrations of the Federal Government's discrimination against Southeastern Nigeria.

“Unlike most Nigerian youths, Igbo youths are subjected to untold hardship, especially in this COVID-19 worsening economic era. In every 10 unemployed people, 6 are Igbo youths, traders amongst them are frustrated either by unfriendly government policies or host communities animosities.

“Igbo leaders are not happy with the 'I-don't-care attitude' of the Presidency, all the lamentations of South-East marginalisation appears to have fallen on deaf ears of the Presidency, as the Federal Government appears to be combat-ready in any slightest hint of conflict of interests in southeastern Nigeria but appears powerless to the full-scale insurgency in Northern Nigeria.

“These two postures of Federal Government, being brutal in the Southeast and sluggish in the North, the two-faced behaviours of Federal authorities are the reason for secessionist turmoils in Middle Belt, South-East and South-West regions.

“Igbo leaders and governors are not behind IPOB and are unhappy with the attacks on police formations and government facilities, but the happenings in southeastern Nigeria appear to be 'the hands of Esau and the voice of Jacob', it's sponsored solely to blackmail the South-East Presidency and portray that Igbos should not be trusted with political power in 2023.

“Unfortunately for them, all anti-Igbo exponents are (unknowingly) playing a historical role in the fulfilment of Nigerian President of Igbo Extraction 2023."

Politics News AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 
https://ift.tt/2G7q8aQ

The apex Igbo socio-cultural group, Ohanaeze Ndigbo Worldwide has clarified its stance over secessionist agitations in the South-East region.

In a statement issued by its Secretary-General, Okechukwu Isiguzoro, the group said the silence of Igbo leaders does not mean support for the proscribed Indigenous People of Biafra (IPOB) nor the Movement for the Actualisation of the Sovereign State of Biafra (MASSOB).

Ohanaeze Ndigbo

The group noted that the agitations were borne out of frustrations from the Nigerian Government's discrimination against the people of the South-East.

Ohanaeze said though it is not in support of the agitations, it is also dissatisfied with the negligence of the Nigerian government, which it described as combat-ready when there is any slight hint of conflict of interests in southeastern Nigeria but sluggish in the North.

The statement read, "Ohanaeze Ndigbo Worldwide had dismissed Northern Elders' contentions of possibilities that the silence of Igbo leaders in the ongoing provocative onslaught in Southeastern Nigeria, reflected support for IPOB and MASSOB, describing it as 'fallacies and myth' craftily designed for sinister motives by anti-Igbo exponents.

”Contrary to popular beliefs of Northerners on secessionist campaigns, the popularity of Biafra agitation by Igbo youths is based on the fallout of the systematic frustrations of the Federal Government's discrimination against Southeastern Nigeria.

“Unlike most Nigerian youths, Igbo youths are subjected to untold hardship, especially in this COVID-19 worsening economic era. In every 10 unemployed people, 6 are Igbo youths, traders amongst them are frustrated either by unfriendly government policies or host communities animosities.

“Igbo leaders are not happy with the 'I-don't-care attitude' of the Presidency, all the lamentations of South-East marginalisation appears to have fallen on deaf ears of the Presidency, as the Federal Government appears to be combat-ready in any slightest hint of conflict of interests in southeastern Nigeria but appears powerless to the full-scale insurgency in Northern Nigeria.

“These two postures of Federal Government, being brutal in the Southeast and sluggish in the North, the two-faced behaviours of Federal authorities are the reason for secessionist turmoils in Middle Belt, South-East and South-West regions.

“Igbo leaders and governors are not behind IPOB and are unhappy with the attacks on police formations and government facilities, but the happenings in southeastern Nigeria appear to be 'the hands of Esau and the voice of Jacob', it's sponsored solely to blackmail the South-East Presidency and portray that Igbos should not be trusted with political power in 2023.

“Unfortunately for them, all anti-Igbo exponents are (unknowingly) playing a historical role in the fulfilment of Nigerian President of Igbo Extraction 2023."

Politics News AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 
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The Chief of the Army Staff, Maj Gen Farouk Yahaya, has stated that he had seen how war was fought in other countries and would replicate same in Nigeria to tackle insecurity. 

Yahaya added that he had the required experience to tackle insecurity bedevilling the country. 

The army chief stated this on Tuesday when he appeared for screening before the House of Representatives' joint committee on defence and army.

Yahaya said he had participated in war and peace-keeping in Liberia, adding that with his experience, he can ensure improved security in the country.

The army chief said, “I have brought along with me 36 years of military experience, having joined the army on September 27, 1985, as a member of 37th regular course in NDA. 

“I passed out on September 2, 1990, and I was posted to the infantry corps as an infantry officer, and since that time, I have passed through all the relevant courses commensurate to my career as I grew up, and I had served in various capacities, including command, staff, instruction and administration, including extracurricular.

“Less than three years ago, we were drafted to Liberia where I had first-hand experience in war, if you would call it so. And finally, my unit was located at Kata town, member of number 16 and for those conversant with that deployment, Kata town was the last deployment of the ECOMOG who were the ones facing Charles Taylor there. 

“So, all activities including wars and operations, including of course negotiations, were conducted by my unit on behalf of ECOMOG.

“We have several times hosted the United Nations negotiations in Kata. We hosted other factional leaders, including Kromah, Johnson, and others in those negotiations. We also fought our way to that end.

“So, if you will, I have first-hand experience, barely three years after my passing out in war and its processes, similar to what we are facing now.

“After that, when we came back to the country, I was also promoted to guards brigade here where I served as platoon commander. So, I am also abreast with the security requirements of Abuja itself and the parade and other requirements that characterised that deployment.

“Subsequently, I grew up in my career to become commanding officer in guards brigade garrison in Abuja here, and so I was involved in all the security requirements of securing Abuja and, particularly, the presidential villa." 

Yahaya said going by his military experience, he was well equipped to tackle the security challenges across the country.

“Looking at my career, I have virtually seen it all. I have seen war in other countries; I have seen how it was done. I was involved also in internal security operations both there and here,” he said.

“Here also, I have been to the north-west like I mentioned, south-south like I mentioned, and to the north-east. The challenges we are facing now are characterised by what I have mentioned. I have first-hand information where I have commanded troops and administered them in achieving what we have done.

“What I brought is the certificate of experience and commitment I have had all across my career. Throughout my career, I have been appointed as at when due. I am determined to provide my best, having known what is required to achieve result.” 

Military News AddThis :  Original Author :  Saharareporters, New York Disable advertisements : 
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The Chief of the Army Staff, Maj Gen Farouk Yahaya, has stated that he had seen how war was fought in other countries and would replicate same in Nigeria to tackle insecurity. 

Yahaya added that he had the required experience to tackle insecurity bedevilling the country. 

The army chief stated this on Tuesday when he appeared for screening before the House of Representatives' joint committee on defence and army.

Yahaya said he had participated in war and peace-keeping in Liberia, adding that with his experience, he can ensure improved security in the country.

The army chief said, “I have brought along with me 36 years of military experience, having joined the army on September 27, 1985, as a member of 37th regular course in NDA. 

“I passed out on September 2, 1990, and I was posted to the infantry corps as an infantry officer, and since that time, I have passed through all the relevant courses commensurate to my career as I grew up, and I had served in various capacities, including command, staff, instruction and administration, including extracurricular.

“Less than three years ago, we were drafted to Liberia where I had first-hand experience in war, if you would call it so. And finally, my unit was located at Kata town, member of number 16 and for those conversant with that deployment, Kata town was the last deployment of the ECOMOG who were the ones facing Charles Taylor there. 

“So, all activities including wars and operations, including of course negotiations, were conducted by my unit on behalf of ECOMOG.

“We have several times hosted the United Nations negotiations in Kata. We hosted other factional leaders, including Kromah, Johnson, and others in those negotiations. We also fought our way to that end.

“So, if you will, I have first-hand experience, barely three years after my passing out in war and its processes, similar to what we are facing now.

“After that, when we came back to the country, I was also promoted to guards brigade here where I served as platoon commander. So, I am also abreast with the security requirements of Abuja itself and the parade and other requirements that characterised that deployment.

“Subsequently, I grew up in my career to become commanding officer in guards brigade garrison in Abuja here, and so I was involved in all the security requirements of securing Abuja and, particularly, the presidential villa." 

Yahaya said going by his military experience, he was well equipped to tackle the security challenges across the country.

“Looking at my career, I have virtually seen it all. I have seen war in other countries; I have seen how it was done. I was involved also in internal security operations both there and here,” he said.

“Here also, I have been to the north-west like I mentioned, south-south like I mentioned, and to the north-east. The challenges we are facing now are characterised by what I have mentioned. I have first-hand information where I have commanded troops and administered them in achieving what we have done.

“What I brought is the certificate of experience and commitment I have had all across my career. Throughout my career, I have been appointed as at when due. I am determined to provide my best, having known what is required to achieve result.” 

Military News AddThis :  Original Author :  Saharareporters, New York Disable advertisements : 
https://ift.tt/2Th2ak4

Governor Nyesom Wike of Rivers State has charged President Muhammadu Buhari to see himself as responsible for securing the lives and property of Nigerian citizens in the country.

Wike noted that Buhari is the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, and cannot shift his constitutional powers of securing lives and property of Nigerians to the state governors.

The governor said this in a statement issued by his media aide, Kelvin Ebiri. 

The governor spoke at the commissioning of the 21-kilometre Odufor-Akpoku-Umuoye Road in Etche Local Government Area of the State on Tuesday.

According to Wike, such a position suggests that the All Progressives Congress-led federal government has no idea of how to tackle the troubling security issues and make the country safe for Nigerians.

He enjoined the federal government to admit that it can no longer fulfil the promises it made to Nigerians and also lead the country out of its present predicament. 

According to the governor, admitting weakness publicly when there is failure makes a leader respectable. 

The governor urged Nigerians to start comparing the performances of governors in the APC and opposition party, the Peoples Democratic Party.

“Mr President, you are the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. You appoint Inspector-General of Police, you appoint the Chief of Army Staff, Chief of Naval Staff, the Commissioner of Police, Director of Department of State Service, and other heads of security.

“Which one do we appoint? How can people appointed by Mr President be under me?” he asked. 

“It is not only to borrow money for Nigeria that you’re in charge. You must also be in charge of other things including security. Who signed order 10? Is it the governors?”

“Mr. President was short of calling names of those governors who run to Aso Rock when they are supposed to stay in their states to see the needs of their states and people.

“Mr. President should have come out openly and said, my APC governors, stop worrying me. Go back to your states and do your work. On that, I support him.

“Thank God, Mr. President knows that I am not one of those that go to visit him over one problem or the other. I, as the governor of Rivers under PDP, you’ll never find me there.”

 

Politics News AddThis :  Original Author :  Saharareporters, New York Disable advertisements : 
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Governor Nyesom Wike of Rivers State has charged President Muhammadu Buhari to see himself as responsible for securing the lives and property of Nigerian citizens in the country.

Wike noted that Buhari is the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, and cannot shift his constitutional powers of securing lives and property of Nigerians to the state governors.

The governor said this in a statement issued by his media aide, Kelvin Ebiri. 

The governor spoke at the commissioning of the 21-kilometre Odufor-Akpoku-Umuoye Road in Etche Local Government Area of the State on Tuesday.

According to Wike, such a position suggests that the All Progressives Congress-led federal government has no idea of how to tackle the troubling security issues and make the country safe for Nigerians.

He enjoined the federal government to admit that it can no longer fulfil the promises it made to Nigerians and also lead the country out of its present predicament. 

According to the governor, admitting weakness publicly when there is failure makes a leader respectable. 

The governor urged Nigerians to start comparing the performances of governors in the APC and opposition party, the Peoples Democratic Party.

“Mr President, you are the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. You appoint Inspector-General of Police, you appoint the Chief of Army Staff, Chief of Naval Staff, the Commissioner of Police, Director of Department of State Service, and other heads of security.

“Which one do we appoint? How can people appointed by Mr President be under me?” he asked. 

“It is not only to borrow money for Nigeria that you’re in charge. You must also be in charge of other things including security. Who signed order 10? Is it the governors?”

“Mr. President was short of calling names of those governors who run to Aso Rock when they are supposed to stay in their states to see the needs of their states and people.

“Mr. President should have come out openly and said, my APC governors, stop worrying me. Go back to your states and do your work. On that, I support him.

“Thank God, Mr. President knows that I am not one of those that go to visit him over one problem or the other. I, as the governor of Rivers under PDP, you’ll never find me there.”

 

Politics News AddThis :  Original Author :  Saharareporters, New York Disable advertisements : 
https://ift.tt/313zcW0

Governor Nyesom Wike of Rivers State has charged President Muhammadu Buhari to see himself as responsible for securing the lives and property of Nigerian citizens in the country.

Wike noted that Buhari is the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, and cannot shift his constitutional powers of securing lives and property of Nigerians to the state governors.

The governor said this in a statement issued by his media aide, Kelvin Ebiri. 

The governor spoke at the commissioning of the 21-kilometre Odufor-Akpoku-Umuoye Road in Etche Local Government Area of the State on Tuesday.

According to Wike, such a position suggests that the All Progressives Congress-led federal government has no idea of how to tackle the troubling security issues and make the country safe for Nigerians.

He enjoined the federal government to admit that it can no longer fulfil the promises it made to Nigerians and also lead the country out of its present predicament. 

According to the governor, admitting weakness publicly when there is failure makes a leader respectable. 

The governor urged Nigerians to start comparing the performances of governors in the APC and opposition party, the Peoples Democratic Party.

“Mr President, you are the Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. You appoint Inspector-General of Police, you appoint the Chief of Army Staff, Chief of Naval Staff, the Commissioner of Police, Director of Department of State Service, and other heads of security.

“Which one do we appoint? How can people appointed by Mr President be under me?” he asked. 

“It is not only to borrow money for Nigeria that you’re in charge. You must also be in charge of other things including security. Who signed order 10? Is it the governors?”

“Mr. President was short of calling names of those governors who run to Aso Rock when they are supposed to stay in their states to see the needs of their states and people.

“Mr. President should have come out openly and said, my APC governors, stop worrying me. Go back to your states and do your work. On that, I support him.

“Thank God, Mr. President knows that I am not one of those that go to visit him over one problem or the other. I, as the governor of Rivers under PDP, you’ll never find me there.”

 

Politics News AddThis :  Original Author :  Saharareporters, New York Disable advertisements : 
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The World Bank says inflation pushed seven million Nigerians below the poverty line in 2020.

In its latest report, “Nigeria Development Update: Resilience through Reforms,” released on Tuesday, the bank said the high inflation rate is worsening poverty and depressing business activities in Nigeria.

The report came a few days after President Muhammadu Buhari said his government had lifted 10.5 million people out of poverty in the last two years.

“In the last two years, we lifted 10.5 million people out of poverty – farmers, small-scale traders, artisans, market women and the like,” Buhari had said during a speech to commemorate the June 12 Democracy Day.

According to the report, the Nigerian economy in 2020 experienced a shallower contraction of -1.8 percent than had been projected at the beginning of the pandemic (-3.2%). Although the economy started to grow again, prices are increasing rapidly, severely impacting Nigerian households.

As a result of this development, rising prices the World Bank said have pushed an estimated seven million Nigerians below the poverty line in 2020 alone.

It said food prices accounted for over 60% of the total increase in inflation.

This edition of the Nigeria Development Update proposes near-term policy option organised around three priority objectives: reduce inflation by implementing policies that support macroeconomic stability, inclusive growth, and job creation; protect poor households from the impacts of inflation, and facilitate access to financing for small and medium enterprises in key sectors to mitigate the effects of inflation and accelerate the recovery.

“Given the urgency to reduce inflation amidst the pandemic, a policy consensus and expedite reform implementation on exchange-rate management, monetary policy, trade policy, fiscal policy, and social protection would help save lives, protect livelihoods, and ensure a faster and sustained recovery,” said Marco Hernandez, the World Bank Lead Economist for Nigeria and co-author of the report.

The report acknowledged “notable government’s policy reforms aimed at mitigating the impact of the crisis and supporting the recovery; including steps taken towards reducing petrol subsidies and adjusting electricity tariffs towards more cost-reflective levels, both aimed at expanding the fiscal space for pro-poor spending.”

In addition, the report said both the federal and state governments cut non-essential spending and redirected resources towards the COVID-19 response.

Also, public-sector transparency has improved, in particular around the operations of the oil and gas sector.

The report, however, notes that despite the more favourable external environment, with recovering oil prices and growth in advanced economies, a failure to sustain and deepen reforms would threaten both macroeconomic sustainability and policy credibility, thereby limiting the government’s ability to address gaps in human and physical capital which is needed to attract private investment.

“Nigeria faces interlinked challenges in relation to inflation, limited job opportunities, and insecurity,” said Shubham Chaudhuri, the World Bank Country Director for Nigeria.

“While the government has made efforts to reduce the effect of these by advancing long-delayed policy reforms, it is clear that these reforms will have to be sustained and deepened for Nigeria to realize its development potential.”

Poverty News Reports AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 
https://ift.tt/3nbjilm

The World Bank says inflation pushed seven million Nigerians below the poverty line in 2020.

In its latest report, “Nigeria Development Update: Resilience through Reforms,” released on Tuesday, the bank said the high inflation rate is worsening poverty and depressing business activities in Nigeria.

The report came a few days after President Muhammadu Buhari said his government had lifted 10.5 million people out of poverty in the last two years.

“In the last two years, we lifted 10.5 million people out of poverty – farmers, small-scale traders, artisans, market women and the like,” Buhari had said during a speech to commemorate the June 12 Democracy Day.

According to the report, the Nigerian economy in 2020 experienced a shallower contraction of -1.8 percent than had been projected at the beginning of the pandemic (-3.2%). Although the economy started to grow again, prices are increasing rapidly, severely impacting Nigerian households.

As a result of this development, rising prices the World Bank said have pushed an estimated seven million Nigerians below the poverty line in 2020 alone.

It said food prices accounted for over 60% of the total increase in inflation.

This edition of the Nigeria Development Update proposes near-term policy option organised around three priority objectives: reduce inflation by implementing policies that support macroeconomic stability, inclusive growth, and job creation; protect poor households from the impacts of inflation, and facilitate access to financing for small and medium enterprises in key sectors to mitigate the effects of inflation and accelerate the recovery.

“Given the urgency to reduce inflation amidst the pandemic, a policy consensus and expedite reform implementation on exchange-rate management, monetary policy, trade policy, fiscal policy, and social protection would help save lives, protect livelihoods, and ensure a faster and sustained recovery,” said Marco Hernandez, the World Bank Lead Economist for Nigeria and co-author of the report.

The report acknowledged “notable government’s policy reforms aimed at mitigating the impact of the crisis and supporting the recovery; including steps taken towards reducing petrol subsidies and adjusting electricity tariffs towards more cost-reflective levels, both aimed at expanding the fiscal space for pro-poor spending.”

In addition, the report said both the federal and state governments cut non-essential spending and redirected resources towards the COVID-19 response.

Also, public-sector transparency has improved, in particular around the operations of the oil and gas sector.

The report, however, notes that despite the more favourable external environment, with recovering oil prices and growth in advanced economies, a failure to sustain and deepen reforms would threaten both macroeconomic sustainability and policy credibility, thereby limiting the government’s ability to address gaps in human and physical capital which is needed to attract private investment.

“Nigeria faces interlinked challenges in relation to inflation, limited job opportunities, and insecurity,” said Shubham Chaudhuri, the World Bank Country Director for Nigeria.

“While the government has made efforts to reduce the effect of these by advancing long-delayed policy reforms, it is clear that these reforms will have to be sustained and deepened for Nigeria to realize its development potential.”

Poverty News Reports AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 
https://ift.tt/3nbjilm

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Democratic and Republican senators hail the rare bipartisan measure in the evenly split chamber.

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Survivors have faced threats and bullying from police when seeking justice, says a new rights report.

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According to reports in Bloomberg, the company paid an Australian traveller after a 2016 attack.

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It is the first major flare-up since the ceasefire between Israel and Hamas in May.

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A new study suggests killer whales may socialise with each other based on age and gender.

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The Delta variant of Covid-19, first identified in India, has changed how the virus is spreading.

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Seven men are competing to become president but most reformist and centrist candidates are barred from standing.