Former vice president, Atiku Abubakar has condemned attempts by the federal government and security agencies to scuttle the nationwide protests planned to take place from August 1.

Vanguard reports that plans are in motion to stage nationwide protests against bad governance, the current economic hardship, and a range of issues.

Taking to his verified Facebook page on Tuesday, the 2023 presidential candidate under the Peoples’ Democratic Party, PDP, expressed concern that even supporters of President Bola Tinubu and the ruling APC are not left out of the hardship.

He wondered why President Tinubu and some key figures who were part of the nationwide protest against the Goodluck Jonathan government in 2012 were attempting to stop the planned protests.

He wrote, “For the avoidance of doubt, the rights of citizens to protest are ENSHRINED in the Nigerian Constitution and AFFIRMED by our courts. Section 40 of the 1999 Constitution (as altered) unequivocally guarantees the right to peaceful assembly and association.

“Chasing shadows and contriving purported persons behind the planned protests is an exercise in futility when it is obvious that Nigerians, including supporters of Tinubu and the ruling APC, are caught up in the hunger, anger, and hopelessness brought about by the incompetence and cluelessness of this government.

“It is deeply ironic that those who now seek to stifle these rights were themselves leading protests in 2012. A responsible government must ensure a SAFE and SECURE environment for citizens to exercise their constitutionally guaranteed rights to PEACEFUL PROTEST.

“Any attempt to suppress these rights is not only unconstitutional but a direct affront to our democracy,” he said.

Peter Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, has issued a 72-hour ultimatum to Bayo Onanuga, special adviser to President Bola Tinubu on information and strategy, to retract his alleged defamatory statement against him.

Onanuga had alleged that supporters of Obi are behind the proposed nationwide protest against economic hardship in the country.

In a letter by Alex Ejesieme, a senior advocate of Nigeria (SAN) and Obi’s lawyer, the former governor of Anambra is also asking Onanuga to tender a public apology published in four national newspapers over the “widespread defamation and libel” or face legal action.

Obi is demanding N5 billion in damages from Onanuga.

There have been reports of a youth-led nationwide protest over the rising cost of living and economic hardship.

The protest is reportedly slated for August 1 to 15.

Onanuga further alleged that the organisers of the planned protest were the same individuals who “hijacked” the #ENDSARS protest of 2020.

“Obi should be held responsible for anarchy. Don’t be fooled: the malcontents planning to stage nationwide protests are supporters of Peter Obi, the failed presidential candidate of the Labour Party. And he should be held responsible for whatever crisis emanates from the action,” Onanuga had written on X.

However, Obi said the allegation, which went viral on social and mainstream media and was read by many within and outside the country, maligned his hard-earned reputation.

He added that the allegation dented his image as “a man who indulges in violence”.

“It’s our client’s conviction that the publication was a calculated plot to demean, ridicule, humiliate, and embarrass him by the estimation of every right-thinking member of the society,” the letter reads.

“His appellation as ‘Okwute’ (the Rock) notwithstanding, the demeaning and scandalous publication has also caused a serious emotional injury to our client given his decades of stellar stewardship in private and public life.

“Consequently, we have our client’s mandate to demand that you retract the statement made in the publication and tender an unreserved apology to him within 72 hours of the receipt of this letter in not less than 4 National Dailies to wit: Vanguard, THISDAY, Punch, and TheCable, including your verified X“@aonanuga1956.

“Our client is also making an unequivocal demand for the monetary damage of N5b for the embarrassment your defamatory publication has caused him and his family.

“In the event of your failure to meet the demands set out above, our client shall be constrained to approach a Court of Competent jurisdiction and take legal action against you for defamation and libel.

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), says inflation is pushing Nigerians into different categories of poverty.

Cardoso said controlling inflation is in the best interest of Nigerians.

He spoke on Tuesday during a press briefing at the end of the monetary policy committee (MPC) meeting in Abuja.

The governor highlighted the significant impact of inflation on the economy, saying purchasing power has diminished and poverty levels have increased.

Cardoso stressed the importance of taming inflation for the average individual and the organised private sector, which faces its own consequences.

He also acknowledged the need for economic growth and the challenges posed by high interest rates imposed to control inflation and ensure the economy’s long-term stability.

“I think I will just say one or two things and these are some of the things that we discuss with the organised private sector that inflation really and truly is having a major impact on our economy,” Cardoso said.

“Purchasing power is getting eroded, people are being pushed into different categories of poverty, and it is in their own interest that we are able to tame the scourge of inflation. If not, the ramifications will also be for them.

“It is not on the average man alone, it will also be for them and we understand the need for growth and we also understand that it is relatively challenging when you have high interest rates.

“My belief is that it is so fundamental to the long-term future and stability of our economy, that inflation should be brought under control.”

According to Cardoso, these short-term pains will eventually benefit the economy and the manufacturing sector.

Speaking on the current economic situation, the CBN governor said the influx of liquidity into the system over a short period played a significant role.

He said the consequences of printing money through ways and means advances are being felt, leading to an out-of-control money supply trajectory.

Cardoso said in response to this, interest rates are being raised to manage the money supply and prevent further spikes.

On Tuesday, MPC raised the monetary policy rate (MPR), which benchmarks interest rates, to 26.75 percent — from 26.25 percent.

Last week, Nigeria’s inflation rate rose to 34.19 percent amid the surge in food prices.

Speaking further, Cardoso said MPC voted to hike the rate by 50 basis points to 26.75 percent, adjust the asymmetric corridor to +500 and -100 basis points around the MPR.

The committee retained the cash reserve ratio (CRR) at 45 percent, and liquidity ratio at 30 percent.

Some social media users have dug out old posts by Olusegun Dada, the special assistant to President Bola Tinubu on social media, in which he called for protests against former President Goodluck Jonathan.

Dada’s old posts started trending on social media, moments after he said protesters would face the “strongest resistance”.

Earlier on Tuesday, Dada, in a post on X, said protesters would meet fierce pushback from supporters of the president.

“Those who want to burn the country down under whatever guise will meet the strongest resistance of their lives,” Dada wrote.

“Not from security agencies, but from the silent majority that gave their mandate to President Bola Ahmed Tinubu for four years in the first instance. We are waiting.”

There have been reports of a planned youth-led nationwide protest over the rising cost of living and economic hardship.

The protest is reportedly slated for August 1 to 15. 

Several old X posts of Dada show that the presidential aide was in support of the protest against Jonathan’s administration.

In one of his posts in January 2012, Dada wrote,

“If u know any policeman, advise him not to take shooting orders from anyone. If anyone is shot during our protest, d killer dies! No”.

In another post in February 2014, he wrote,

“maybe we don’t need peaceful protests anymore”.

Dada’s old posts have elicited a plethora of reactions.

The United Nations (UN) department of safety and security has warned that the planned protests in Nigeria may be hijacked by groups with ulterior motives.

Recent reports indicate that various Nigerian groups are planning a nationwide protest from August 1 to 10, dubbed “10 days of rage,” to address the country’s soaring cost of living and economic hardship.

In a threat and risk assessment finding dated July 19, the UN expressed concerns about the possibility of violence, citing past instances where similar protests in Nigeria escalated.

“Recall that in the 13–16 February 2023 interval, tensions generated by the paucity of new Naira currency (financial crisis) reached high levels amongst the civilian population, which materialized in violent protests in the South-East and South-South regions of Nigeria, in the states of Akwa Ibom, Delta, Edo, Imo, Kwara, Lagos, Ondo, Ogun, Oyo, and Rivers,” the threat and risk assessment reads.

“During the civil unrest in the different states, several bank branches and ATM points were vandalized, and major roads were blocked.

“As the turnout for the ’10 days of rage’ protest is expected to be high, large-scale disruptions to normal economic and social activities cannot be discounted.”

The threat assessment also showed that confrontations between groups supporting the government and those disagreeing with its policies cannot be ruled out from the end of July towards August 10-15.

“While acknowledging the economic hardship in the country, some organizations and leaders of ethnic groups (especially in South-South and South-East) were discouraging participation in any of the 1-10 August protests (E.g. Ọhanaeze Ndigbo, a socio-cultural organization in Nigeria, claiming to represent the interests of all Igbos),” the UN said.

“This highlights the possibility of the events being hijacked by other interest groups/detractors, thus complicating the security landscape of different areas.”

Those calling for the protests are asking for a reverse of some policies implemented by President Bola Tinubu believed to have engendered hardship in the country.

Some of the demands include the reinstatement of petrol and tertiary education subsidies, restoring affordable electricity tariffs, and reducing import duties to previous values established before the economic crisis.

Others are declaring a state of emergency on inflation, more transparency in public administration, publicly disclosing and reducing the salaries and allowances of political office holders, and reforms to the judicial system.

In a statement addressed to Tinubu, Joe Ajaero, president of the Nigeria Labour Congress (NLC), said it would be hard to prevent Nigerians from expressing dissatisfaction with the government’s policies.

Aliko Dangote, the chairman of Dangote Industries Limited, has been invited by President Brice Oligui Nguema of Gabon to invest in cement and fertiliser production in the country.

According to a statement by the media office of Dangote Group, the billionaire was invited to explore investment opportunities in cement and fertiliser (urea and phosphate).

“President Brice Oligui Nguema of Gabon has invited the President and Chief Executive Officer of Dangote Industries Limited (DIL), Aliko Dangote to invest in Cement and Fertiliser production in Gabon,” Dangote Group said.

“The President urged Dangote to explore potential investment opportunities in the country’s cement and fertilizer sectors, specifically urea and phosphate production.”

According to the statement, Dangote conversed with Nguema and other top government officials during the visit.

“The talks focused on how Dangote Industries could contribute to Gabon’s economic growth by establishing cement and fertilizer plants, which are vital for the country’s infrastructure development and agricultural productivity,” Dangote Group said.

“President Nguema expressed enthusiasm about the potential partnership, highlighting Gabon’s commitment to creating a conducive environment for foreign investments. 

“He noted that the collaboration with Dangote Industries would bring significant benefits, including job creation, technology transfer, and enhanced industrial capacity.”

‘INVESTING IN GABON ALIGNS WITH DANGOTE INDUSTRIES GOALS’

On his part, Dangote underscored his company’s dedication to fostering economic development in the continent.

He emphasised that investing in Gabon’s cement and fertilizer sectors aligns with Dangote Industries’ strategic vision of expanding its footprint and supporting sustainable development across Africa.

“We are excited about the opportunity to invest in Gabon. Our goal is to contribute to the country’s economic diversification and industrialization efforts,” Dangote said.

“By leveraging our expertise in cement and fertilizer production, we aim to support Gabon’s infrastructure and agricultural sectors.”

Dangote Group said the visit signifies a significant step towards deepening economic ties between Nigeria and Gabon.

The company said as Dangote Industries continues to explore and finalise investment opportunities, both nations anticipate mutual benefits that would propel economic progress and regional integration.

“The potential investment by Dangote Industries in Gabon is expected to bolster the country’s industrial landscape, ensuring a steady supply of essential materials for construction and agriculture,” the statement reads.

“This development aligns with President Nguema’s vision of transforming Gabon into a diversified and self-sustaining economy.

“In the coming months, further discussions and assessments will be conducted to finalize the investment plans. The collaboration between Dangote Industries and the Gabonese government holds promise for a robust partnership that will significantly impact Gabon’s economic landscape.”

The invitation comes days after Dangote announced he will halt investment in Nigeria’s steel industry. 

On July 21, the businessman said Dangote Industries would no longer continue with plans to enter Nigeria’s steel industry to avoid being accused of wanting to be a monopoly.

Dangote’s threat comes two months after his company said it was making plans to invest in the steel industry and expand the economy.

180 members of the House of Representatives Minority Caucus have unanimously called for the release of Nnamdi Kanu from custody. 

The motion which was moved by Rep Obi Aguocha, representing Ikwuano, Umuahia North, and Umuahia South Federal Constituency, appeal to the minority caucus of the 10th House of Representatives for the release of Kanu which was unanimously adopted by the caucus at a meeting in Abuja.

Appealing, Aguocha urged his colleagues to take a definitive position on the ongoing discourse surrounding the detention of Kanu and to explore a political solution to his release.

The caucus is made up of members from the Peoples Democratic Party (PDP) with 115 seats, Labour Party (LP), 35 seats, New Nigeria Peoples Party (NNPP), 19 seats, All Progressives Grand Alliance (APGA), 5 seats, Social Democratic Party (SDP), 2 seats, Young Progressives Party (YPP),2 seats, and the African Democratic Congress (ADC), 2 seats.

In his address, Aguocha emphasized the importance of a united stance within the minority caucus, highlighting that the resolution of Mazi Nnamdi Kanu’s case is crucial for national peace, stability, and unity.

He called for immediate and strategic engagement with relevant stakeholders to advocate for a peaceful and political resolution to the matter, which has significant implications for the socio-political landscape of Nigeria.

He further underscored the potential benefits of addressing the situation through dialogue and reconciliation rather than a prolonged abuse of legal processes and confrontation. He expressed his belief that a political solution could pave the way for enhanced national integration and the restoration of trust among various communities.

“Today, the opposition parties have taken a decisive stand on Mazi Nnamdi Kanu, the planned protest, insecurity, the dilapidated infrastructure, and the economy.

“The adoption of the position on Mazi Nnamdi Kanu by the influential caucus comes off the heels of my recent visits to the former President Muhammadu Buhari, successful mobilisation of 50 of our fellow colleagues across all parties and also the southeast caucus of the National Assembly. It will be recalled that the Southeast Governors forum also joined in the call for the release of Nnamdi Kanu. 

“This call to action by my colleagues serves as a reminder of the critical role that legislative bodies play in fostering peace and stability in the nation. I remains committed to championing initiatives that promote justice, equity, and harmonious coexistence across Nigeria.

There was a rain of curses in Port Harcourt, Rivers State, as residents of the area discovered remains of an a-day-old baby in a manhole.

It was gathered that members of the Diobu vigilante group made the discovery in the early hours of Tuesday and that the dead baby was a boy.

A source disclosed that a dead baby was found in a manhole around Ekwe Street by Ikwerre Road, Mile 3 Diobu, Port Harcourt City Local Government Area.

Mr. Godstime Ihunwo, the Chief Security Officer of Nkpolu Orowurokwo working with Diobu vigilante said the community security team found the baby already dead during their patrol.

He said: “At the early hours of today, 23rd July 2024 at about 5 am, I and my team were on patrol. On getting to Ikwerre Road/Ekwe Street Mile 3 Diobu, Port Harcourt, we discovered that a newborn baby was dumped into a Manhole.

“We discovered that the baby was dead. It was a male. I quickly rushed down to Nkpolu Police Division to make an entry. I also contacted, Prince Wiro who is a human rights activist.”

Meantime, Prince Wiro, who is the National Coordinator of Centre for Basic Rights Protection And Accountability Campaign has condemned the action of the unidentified mother describing it as height of wickedness.

Wiro said: “It is sad that before the vigilante group discovered the infant male, he was already dead. The action of the mother of the child is a crime that is punishable under the Nigeria law.

“We use this opportunity to urge residents who may have useful information about the identity of the child’s mother to report to the Police for necessary action.” 

However, the Public Relations Officer of the State Police Command, Grace Iringe-Koko, a Superintendent of Police, has confirmed the incident.

Iringe-Koko said Police have contacted the relevant agency for possible evacuation of the dead body while investigations continue.

She urged residents with useful information on who may have dumped the baby to report to the nearest Police station.

The Central Bank of Nigeria (CBN), on Tuesday, raised the Monetary Policy Rate (MPR), which measures interest rates by 50 basis points, from 26.25% to 26.75% amid soaring inflation and skyrocketing food prices.

The Governor of the apex bank, Olayemi Cardoso, announced this after the apex bank’s 296th Monetary Policy Committee (MPC) meeting in Abuja.

The MPC had maintained a hawkish stance to tame inflation since it resumed meeting this year and thus far, it has hiked rate by more than 500 points.

The rate was raised to 26.25 per cent in May.

However, with inflation moving to 34.19 per cent in June, according to the National Bureau of Statistics, the headline inflation increased by 0.24 per cent relative to the May 2024 headline inflation rate which was 33.95 per cent.

On a year-on-year basis, the headline inflation rate was 11.40 per cent points higher than that of June 2023 (22.79 per cent).

Also, on a month-on-month basis, the headline inflation rate in June 2024 was 2.31 per cent, which was 0.17 per cent higher than the rate recorded in May 2024 (2.14 per cent), meaning that the rate of increase in the average price level was higher in June than in May.

Repeatedly, the CBN governor has maintained that the MPC members were committed to price stability and were willing to keep tightening until inflation is tamed.

Multiple reports from investment houses had projected that the MPR would be hiked,

Cowry Asset Management, in its weekly report, projected a 25bps to 50bps hike in interest rates, while the Meristem report anticipates “a 100 basis point increase in the monetary policy rate to 27.25 per cent while likely keeping other parameters unchanged. Overall, we anticipate that the committee will prioritize inflation control and capital inflow sustainability, crucial for maintaining a stable exchange rate system, and accordingly, implement a rate hike to achieve these objectives.”

A member of the Labour Party or LP, Mr Ezenwo Onyewuchi, representing Imo East has defected to the All Progressives Congress (APC).

Onyewuchi’s defection letter was read on the floor of the red chamber by Senate President Godswill Akpabio on Tuesday.

Imo State Governor, Mr Hope Uzodimma, who chairs the Progressives Governors Forum (PGF), was in the chamber when the letter of defection was read.

Details soon…