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Nollywood actor Saidi Balogun has expressed concern about the current economic situation in Nigeria.
In a post on his Instagram page, the Yoruba actor who was a strong supporter of Tinubu during the 2023 presidential election, raised questions about the existence and effectiveness of price control and regulatory agencies in the country, seeking clarification on measures to mitigate the impact of inflation
The actor highlights the need for measures to address the rising prices impacting individuals and businesses in the country, stating that the situation is already getting out of control.
“Do we have a functional price control or piece regulatory agency in Nigeria?
How do we cushion the effects of inflation?
Because things are getting out of hand” he wrote
At least sixteen persons have been arrested for financial fraud to the tune of N3.9 billion.
The suspects were apprehended by the Nigeria Police Force National Cyber Crime Centre over the fraud against a leading African digital commerce platform, Interswitch Limited.
The sum of N3.9bn cash and properties had so far been recovered from the suspects, with efforts ongoing to recover more.
The Department of State Services’ spokesperson, Peter Afunanya, announced the development at the Strategic Communications Interagency Policy Committee joint press briefing in Abuja on Monday.
According to him, the centre made the arrest and recovery following a petition from Interswitch Limited regarding a glitch on its financial portal.
He added that eight of the suspects had been convicted
Afunanya said, “ The Nigeria Police Force National Cyber Crime Centre tackled a massive financial fraud case, acting on a petition from Interswitch Limited regarding a glitch on its financial portal.
“The swift response led to the arrest of over 16 suspects, eight of whom have been convicted. The operation recovered over N3.9bn in cash, properties, and vehicles, with ongoing efforts to recover additional looted funds.”
Further reading out the police success, Afunanya also said the police in Taraba arrested a notorious kidnapper and recovered arms and ammunition from him.
He said, “In a parallel operation, the Special Anti-Kidnapping Squad of Taraba State command arrested a notorious kidnapper, seizing three AK-47 rifles, four magazines, 19 rounds of live ammunition, 23 expended rounds, and five solar panels from his premises.”
He added that the police foiled a kidnap attempt and killed nine kidnappers.
Afunanya said, “Similarly, on July 4, 2024, the Lagos State Command operatives thwarted an attack by a notorious kidnapping gang. In a fierce gun battle, nine kidnappers were neutralised, and significant weaponry, including four AK-47 rifles, four locally-made semi-automatic pistols, nine AK-47 magazines, three walkie-talkies, a PoS machine, a loudspeaker, and two operational vehicles were recovered. Investigations continue to apprehend the fleeing suspects.
“In another notable case, on April 24, 2024, 18-year-old Mallam Adamu Adamu was rescued from captivity in Kasda, Jakusko LGA, Yobe State.”
Police operatives raided the gang’s enclave, arresting three suspects and recovering two AK-47 rifles and a magazine with 26 rounds of live ammunition. The suspects will be charged to court following the investigation’s conclusion.”
A Lagos High Court sitting in Igbosere has extended an earlier order restricting protesters in Lagos to Freedom and Peace Pack in the Ojoto and Ketu areas of the state.
Justice S.I. Sonaike gave the order following an application by the Lagos State Attorney-General and Commissioner for Justice, Lagos State, Mr Lawal Pedro, SAN, for an extension order, having complied with the pre action protocols for preemptive remedies ordered last week by another vacation judge, Justice Emmanuel Ogundare.
Pedro, who was represented in court by the Director for Civil Litigations, Mr Hameed Oyenuga, told the court on Tuesday that service of the earlier court order had been served on all the respondents in compliance with the pre-action protocols for pre-emptive reliefs sought by the AG against the representatives of the protesters.
He argued that though the respondents in the suit were yet to respond to the application, there is a need to extend the earlier restriction order of the protest to two venues so that the state can continue to enjoy the relative peace being experienced despite the ongoing protests across the country.
In her ruling, Justice Sonaike noted that she is satisfied with the AG’s compliance with the orders of Justice Ogundare and order that the restriction of the protests to Freedom and Peace Parks in the Ojota and Ketu areas of the state be extended until full compliance with the preaction orders.
Justice Ogundare, last week, while ruling on a preemptive exparte application filed Mr Pedro seeking to maintain and secure public safety and prevent irreparable loss of lives and property in the state during the period of the protests, placed restrictions on the protesters.
Listed in the application as co-defendants are Adamma Ukpabi and Tosin Harsogba (for Active Citizens Group); Comrade Juwon Sanyaolu and Hassan Soweto (for Take It Back Movement); persons unknown; and Commissioner of Police, Lagos State.
While moving his application before the court, Mr. Pedro argued that, as the Chief Law Officer of the State and having been privy to notices by different interests who are for and against the nationwide protest, there is a need to protect the critical infrastructures of the state and prevent an irreparable loss of lives and property as witnessed during the EndSARS protest in 2020.
A Federal High Court in Lagos on Monday granted N50m bail each to two students of Moshood Abiola Polytechnic and Resign Regal Academy, Timothy Oluwabukola and Anthony Odemerho, who allegedly hacked MTN Nigeria Communication computers and stole airtime and data valued at N1.9bn.
Justice Akintayo Aluko granted them bail after hearing two separate bail applications filed by the defendants.
In addition to the bail sum, Aluko ordered the defendants to provide two sureties each, one of whom must be a civil servant in the federal or Lagos State employment, who must be grade level 14 and above.
He said that the second surety must be a landed property owner within the jurisdiction of the court, provide evidence of ownership, and must swear to an affidavit of means.
In the case of the civil servant, they must produce a reference letter of their place of work, and a letter of last promotion, while the defendants must submit two recent passport photographs to the court registrar.
Aluko ordered that the prosecution should verify all documents submitted by the sureties including their residential addresses.
The court further ordered that the defendants be remanded in the Correctional Centre pending the fulfilment of their bail conditions.
Oluwabukola and Odemerho were arraigned on July 30, 2024, by the Police Special Fraud Unit.
They are facing four counts bordering on conspiracy, unauthorised access into the company’s web-based platform known as Application Programming Interface and unlawful conversion, preferred against them by the police.
The police prosecution counsel, Justine Enang, told the court that the defendants committed the alleged offences with others now at large.
Enang told the court that Oluwabukola and Odemerho, said to be students of Moshood Abiola Polytechnic Abeokuta, Ogun State, and Resign Regal Academy in Benin City, Edo State, respectively, committed the offences sometime between January and April 2024, in Lagos and Edo states.
He said that the duo allegedly hacked into the MTN web-based platform known as Application Programming Interface, and stole N1.9bn worth of airtime and data.
According to the prosecutor, the offences committed contravened Sections 27(1)(b); 6(2) and 28(1)(b) of the Cybercrime (Prohibition, Prevention, etc) Act, 2015 as amended in 2024, but punishable under Section 8(2) of the same Act.
He added that the offences also contravened Section 18(2)(b) of the Money Laundering (Prevention And Prohibition) Act, 2022, punishable under Section 18(3) of the same Act.
However, the defendants pleaded not guilty to the charges against them.
Following their not-guilty plea, the prosecutor asked the court for a trial date and urged the court to remand them in the custody of a correctional centre till the determination of the charge.
But, the defence lawyer informed the court that he had filed two applications for bail and the same had been served on the prosecutor.
In response, the prosecutor confirmed being served with the bail applications but told the court that he was served while the proceedings were going on.
He asked the court for a short date to enable him to study the applications and respond to them.
Consequently, Justice Aluko adjourned the case till August 5, 2024, for a hearing of the defendants’ bail applications.
Nigerian magnate and industrial powerhouse, Aliko Dangote, has stormed back to the pinnacle of Africa’s rich list, reclaiming his title as the continent’s wealthiest man on the Bloomberg billionaire index, mere days after ceding it to South African tycoon, Johann Rupert.
In a dramatic turn of fortunes, Bloomberg reports that Dangote’s immense wealth surged by a staggering $144 million in just 24 hours, bringing his total fortune to a colossal $13.7 billion as of Monday, August 5, 2024.
This phenomenal rise enabled Dangote to overthrow Rupert, who had briefly snatched the crown over the weekend.
Johann Rupert, who enjoyed a fleeting moment of glory, saw his net worth shrink by a whopping $334 million in the same 24-hour period, reducing his riches to $13.3 billion.
Tunde Ednut, others react as protesters hijack police tank, cruise around with it -VIDEO
This financial bloodbath has demoted Johann Rupert to the position of the 155th richest individual globally, marking a significant tumble from his short-lived reign.
Aliko Dangote’s triumphant return to supremacy has not only reestablished him as Africa’s undisputed financial juggernaut but also catapulted him up the global rankings, leapfrogging from 156th to 149th on Bloomberg’s index of the world’s wealthiest.
This meteoric rise means Dangote has surged ahead of seven influential billionaires, reasserting his dominance on the global stage.
For Johann Rupert, the fall is both swift and stinging, as he now finds himself edged out by his Nigerian rival, slipping to the 155th spot among the planet’s wealth elite.
Amit Mehta, a United States (US) judge, has ruled that Google acted illegally to maintain monopoly on online searches and related advertising.
On Oct 20, 2020, the US department of justice filed a civil antitrust lawsuit to stop Google from unlawfully maintaining monopolies through anticompetitive and exclusionary practices in the search and search advertising markets and to remedy the competitive harms.
The department of justice alleged that Google is the monopoly gatekeeper to the internet for billions of users and countless advertisers worldwide.
It said for years, Google has accounted for almost 90 percent of all search queries in the US and has used anticompetitive tactics to maintain and extend its monopolies in search and search advertising.
The department also alleged that Google’s anticompetitive practices have had harmful effects on competition and consumers.
In a blog post responding to the lawsuit, Kent Walker, Google’s chief legal officer, presented the company’s defence against the department’s allegations.
Walker said users choose Google willingly, not because they are compelled to or unable to find other options.
“Today’s lawsuit by the Department of Justice is deeply flawed,” Walker wrote.
“People use Google because they choose to, not because they’re forced to, or because they can’t find alternatives.
“This lawsuit would do nothing to help consumers. To the contrary, it would artificially prop up lower-quality search alternatives, raise phone prices, and make it harder for people to get the search services they want to use.”
According to BBC News, in his ruling on Monday, Mehta said Google paid billions to secure its position as the default search engine on smartphones and browsers.
“Google is a monopolist, and it has acted as one to maintain its monopoly,” Mehta said.
The ruling comes after a 10-week trial in Washington DC, in which prosecutors accused Google of spending billions of dollars annually to Apple, Samsung, Mozilla and others to be pre-installed as the default search engine across platforms.
The US said Google pays more than $10 billion a year for that privilege, securing its access to a steady stream of user data that helped maintain its hold on the market.
Prosecutors said doing so meant other companies did not have the opportunity or resources to meaningfully compete.
The judge concluded that being the default search engine is “extremely valuable real estate” for Google.
“Even if a new entrant were positioned from a quality standpoint to bid for the default when an agreement expires, such a firm could compete only if it were prepared to pay partners upwards of billions of dollars in revenue share,” the judge said.
While the judge has not decided on penalties for Google, the publication said the US government has asked for “structural relief” — which in theory, could mean the break-up of the company.
Also, Reuters reported Alphabet, the parent company of Google, plans to appeal against the ruling.
Another case against Google over its advertising technology is scheduled for trial in September.
The Kaduna police command says its operatives have arrested 39 suspects with Russian and Chinese flags during Monday’s #EendBadGovernance protest in the state.
Mansir Hassan, the police spokesperson, said in a statement that those arrested included a tailor sewing the flags.
Hassan added that the suspects were seen displaying Russian and Chinese flags during the protest, adding that they also engaged in the vandalisation of private and public properties.
“Among the damaged properties were a Hilux vehicle belonging to Kaduna State Vigilante Service (KADVS), a Toyota Yaris owned by a journalist, and the Zaria offices of the Kaduna State Traffic Law Enforcement Agency (KASTLEA), which was set on fire,” the statement reads.
“The police, in collaboration with other security agencies, intervened to restore order.
“During the confrontation, the suspects became hostile and resorted to using stones, catapults, and other weapons. The police managed to calm the situation with the minimal use of tear gas.
“In total, 39 suspects were arrested at the scene, including a tailor who was sewing the foreign flags for the group.”
The police spokesperson said 38 Russian flags, one Chinese flag, two catapults with a bag of stones, and various vandalised items were recovered from the suspects.
He added that Audu Ali Dabigi, the commissioner of police in Kaduna, commended the operatives for their efforts and urged the residents to obey the 24-hour curfew.
He warned that violators will be arrested and prosecuted under the law while appealing to citizens to cooperate with the police and other security agencies during this critical period.
“The curfew is in place to protect lives and property and ensure the swift restoration of peace in Kaduna state,” Hassan quoted the commissioner as saying.
Bitcoin, the world’s largest cryptocurrency by market cap, dropped to $52,000 amid a market sell-off on Monday.
The price of the digital asset dropped significantly by 13 percent in 24 hours.
The cryptocurrency dipped from $60,752 on August 4, to $52,312 on August 5, according to CoinMarketCap, a price-tracking website for crypto assets.
Similarly, the price of other cryptocurrencies also experienced a downswing. The price of Ethereum fell from $2,905 on August 4 to $2,261 on August 5 — a decline of 22.46 percent in 24hrs.
CoinMarketCap also said the global cryptocurrency market cap shrank to $1.85 trillion, after recording a reduction of over $184.39 billion or 14.06 percent in the last 24 hours.
According to a report by Economic Times, the dramatic drop was attributed to the hasty sell-off of assets by investors due to geo-political tensions, United States recession fears, the global impact of the appreciation of the Yen following the Bank of Japan’s decision to raise interest rates to 0.25 percent and reduce bond purchases.
On March 19, Standard Chartered Plc raised its 2024 forecast for Bitcoin (BTC) price from $100,000 to $150,000.
Standard Chartered also predicted that the BTC would reach an all-time high of $250,000 by 2025 before settling around $200,000.
On March 11, Bitcoin crossed $71,000 for the first time in two years.
Paul ‘Rudeboy‘ Okoye, the singer, has slammed Joe Igbokwe, the Nigerian author, over his comment on the rift between him and Peter ‘Mr P‘ Okoye, his twin brother.
The Okoye brothers have been in the news since their controversial split in 2016.
The twins parted ways after a disagreement on the role of Jude Okoye, their older brother who happened to be their immediate past manager.
But in November 2021, the duo ended their five-year feud. They also staged their first joint performance as Psquare.
However, their latest split was confirmed by Rudeboy who claimed his twin brother was behind his recent arrest by the Economic and Financial Crimes Commission (EFCC).
Wading into the matter in a Facebook post, Igbokwe berated the twin brothers for being “unable to settle their family dispute”.
The author also wondered if “there are no elders in their family” while describing their rift as a “shame”.
“So shameful that two twin brothers Paul and Peter cannot work together, cannot love one another, they cannot trust each other, they cannot think together, they cannot reason together, they cannot forgive each other, they cannot manage their wives, they cannot manage their success story, they cannot control their emotions, they cannot manage their internal contradictions, even their wives could not help matters, what about their parents, their brothers and sisters, their Nnaochie? etc,” he wrote.
“This is shame. It pains me to no end. Now, are there no elders in the family? This is success without brains. Education without character. Make shame catch us small na. When Gold rust what will Iron do? Ndi ara akwu eke. Awon werey.”
However, Rudeboy took to his Instagram page to tackle Igbokwe. The singer also hurled abusive words at the All Progressives Congress (APC) chieftain.
says his first time ever traveled abroad was 2015
Popular singer, Adekunle Gold has inspired his fans with his touching success story, citing how he first traveled out of Nigeria.
In a widely shared video, the singer revealed that the first time he ever traveled out of Nigeria was in 2015 and it was because of his hit song, “Shade”. He also had “Orente” at the time.
Since then, he has been to over 35 countries and his passion has been his drive.
Adekunle Gold further encouraged and prayed for his fans and followers to never give up on their passion as it would sure make way for them. In Adekunle Gold’s words:
“The first time I ever traveled out of Nigeria was in 2015. Guess what took me out? One song, “Shade.” I had “Shade” and “Orente” then. And since then, I think I’ve been to 35 countries.
“I say this to say, your passion, the one thing that you love to do will make way for you. I always wanted to travel as a child but where I see the money.
“But look, I’m just praying for you guys that you find something, you know, that will take you places and if you have already found it, just keep at it. You will go places.”
More...
The eldest daughter of Anambra State Governor Prof. Charles Soludo, Adaora Soludo, has tied the knot with her fiancé Arinze in a private civil ceremony held in London.
The wedding took place on July 26, 2024, in an intimate gathering attended by close family members.
Adaora, a popular fashion entrepreneur, shared stunning photos of the occasion on Instagram, expressing her elation at marrying her “best friend.”
The couple, who announced their engagement on August 25, 2023, celebrated their union in a dreamy, family-filled celebration.
“Signed, Sealed, Delivered | 26.07.24. Married my best friend in the intimate wedding of my dreams, surrounded by family ♥️,” one of her post’s caption read.
Following the announcement, netizens flooded her social media with congratulatory messages, wishing the newlyweds a lifetime of happiness.
Bobrisky, the controversial crossdresser, has been released from the Kirikiri Correctional Center.
The social media celebrity was released on Monday morning.
In now-viral footage, she was seen inside a luxury car leaving the prison vicinity alongside two of her two friends. They were vibing to ‘Egwu’, a song by Chike and late singer Mohbad.
The self-proclaimed ‘Mummy of Lagos’ was also sighted in another video greeting her fans who came to welcome her.
“Hello guys, it’s your Mummy of Lagos… I have missed you guys so much. I can’t wait to have you guys, like give you guys what you have missed,” she said.
Born Idris Okuneye, Bobrisky was sentenced to six months in prison on April 12 by Abimbola Awogboro, the Lagos high court judge, for abusing the naira.
Awogboro, in her verdict, also ruled that the sentence was without the option of a fine. The judge held that the jail term commenced on March 24, the day of her arrest.
In April, the crossdresser, who was charged with four counts of naira abuse, filed a notice of appeal challenging the six-month prison sentence.
Bobrisky had hoped that the court of appeal would set aside the sentence and replace it with an option of a N50,000 fine on each count.
Media
Bobrisky has been released from prison ? pic.twitter.com/KCdOgCythh
— CableLifestyle (@CableLifestyle) August 5, 2024
#EndBadGovernance protest: ‘Deliver Us From Tinubu’ – Ogun Woman Laments Over Hardship, Unemployment (Video)
AFOLABIAn elderly woman participating in the ongoing #EndBadGovernance protest in Sango, Ogun State, has criticised President Bola Tinubu, over the level of hardship in the country.
The old woman who lamented that there is no job in the country, claimed that she and her children beg for alms to survive.
While calling for deliverance from the Tinubu government, she noted that the price of food commodities in the country is on the high side.
She noted that there is no job for the youths, adding that the government has failed to attend to bad roads.
The woman while speaking in a viral video recorded at the protest ground said, “I came from Owode to join the protest. Is it acceptable for we elderly to be begging for alms to survive? We beg for alms to survive. I and my children are starving.
“Our children don’t have jobs. Men and woman in Sango are unemployed. No jobs. All the roads are bad. (God) Deliver us from this government.
“Deliver us from Tinubu. What he promised to do are not what he is doing. He is suffering us. Deliver us from his government. Rice is unaffordable. Garri is unaffordable.”
Watch the video below:
Media
…Use mushroom as substitute for meat
lTraders blame crisis on insecurity
lFG reiterates commitment to food security
The astronomical surge in food prices has forced many Nigerian households to adopt various coping mechanisms to survive, a survey by Financial Vanguard has revealed.
The latest inflation report of the National Bureau of Statistics, NBS, indicated that the prices of tomatoes, beans, garri and some other food items have increased by more than 200 percent within a year.
This increase has kept many individuals and households in untold hardship and hunger, as the majority can no longer afford a decent meal a day.
Investigations revealed that many households have been adopting different alternatives to regular food items for survival.
For instance, with fresh tomatoes becoming increasingly unaffordable, many families now rely on tomato paste and palm fruits to prepare meals.
Households adopt alternatives
Speaking to Financial Vanguard in Lagos, Mrs. Kehinde salami, a retired civil servant, said: “The increasing rise in the price of goods and services is terrible.
“Everyday the prices of food items we produce keeps rising.
“Look at beans, yam, tomato, only few people are buying them, especially beans that many households consume once in a very long while.
“Early this year, I bought a paint rubber of honey beans at N6,000. Now the price is N11,000.
“What I do now is to buy one or two derica beans which goes for N4,400.
“Also, for tomatoes, I use the sachet tomatoes and add dry habanero pepper instead of buying N500 fresh pepper that is not up to a handful.
“Now that there is another species of tomato, they now have the portion of N200 and also pepper but it is very small in quantity when compared to how it was portioned early this year.
“I also go for palm oil (Banga), vegetable soups which can be served alongside rice and other delicacies.
“Now, people have embraced many alternatives for survival.”
Also speaking, Mrs. Dorin Fehintola, a PoS agent, said: “It is not funny anymore. Parents now put on thinking caps to be able to feed their families.
“Before, in my family we ate beans twice a week in porridge form and cake. Now we single it to cake form once a week to reduce consumption and save cost.
“I replaced tomato sauce with vegetable leaf sauce, carrot sauce, garden egg sauce and palm fruit (Banga) sauce.I use sachet tomatoes when preparing jollof rice.
“I stopped cooking yam and buying bread. Instead I cook cocoyam or spaghetti.”
Another respondent in Lagos, Mrs. Kemi Bamidele, a food vendor and baker said the inflation has made life unbearable.
“The government should have put some palliative measures on ground before removing the subsidy. They should do the needful as the masses are very hungry,” she said.
On her part, Mrs. Nkem Chukwujekwu, who is a business woman said “the high cost of goods and commodities has really affected us because most food items have become unaffordable.
“Most of us have alternatively chose to replace stew with the local stew we make with palm fruit known as banger stew even with that, but a paint bucket of banger has gone up from N1800 to N4700.
“So the inflation of food has really affected us greatly to a point where most people could barely afford two square meal a day.”
Also reacting, Mrs. Ngozi Egwuagha, a business woman and a grandma, stated: “Life in Nigeria has become a nightmare. What used to be our common stable foodstuffs have turned into luxury items.
Beans, rice, garri, yam and all food items are now beyond the reach of common folks. Beans that have been the comfort of average Nigerians where meat and fishes are no longer affordable has gone beyond reach. A derica of honey beans has gone above N2000.
“Almost nothing is within reach. Tomatoes, onions, plantain and garri all are beyond affordable. Life is now a nightmare. An average Nigerian household cannot boast of one square meal a day.
“Everything is like squeezing water out of stone to buy the next meal. No family talks of eating bread, eggs, butter, milk, teas and their likes as all those are now high luxuries. It’s been a very difficult and agonizing time for many families.”
In his reaction, Mr. Benjamin Nzekwe, a sales executive at DHL, said: “It is painful to even imagine the state of the country right now. To eat two square meals a day is now a problem, talk less of three.
“The cost of food is nothing to write home about and we cannot even afford to buy some food. These days, we eat food without meat or fish because the cost is not affordable. I wish the government could do something fast to alleviate hunger in the country.”
In Enugu, some buyers at a market told Financial Vanguard that they have not made stew for their families in a long time. Those who still make stew said they opt for the cheaper, lower-quality ‘awarawa’ tomatoes, which are often rotten and fungal-infested.
Madam Bridget shared her struggles, saying, “We’ve stopped eating meat with our meals, and making stew is a rarity. We now buy tomato paste with pepper and onions to make jollof rice, which costs N150, compared to N500 for five pieces of fresh tomatoes, that wouldn’t even be enough.”
She added that they’ve had to mix beans with rice due to the high cost and even stopped eating beans altogether after a cup cost them N400.
Madam Gladys, a farmer, also sharing her experience, said: “We now make vegetable sauce to eat with white rice and use locally sourced mushrooms as a substitute for meat. Even finding affordable rice is challenging.”
Sellers also lament
At Abakpa Market, sellers complained of poor sales despite having large quantities of tomatoes. One seller attributed the low demand to high transportation costs and fuel prices.
Another market seller narrated her ordeal saying, “You know we have different species of tomatoes. The one I am selling is from Nsukka. Half a paint is N3000, while a full paint is N6000. People buy this type better than the rest, which are of a higher rate. Even so, it’s 5 pm and I haven’t sold half of what I have in my shade. The high cost of transportation and fuel prices are the causes of all these challenges.
Yet another seller said:, “When things were cheaper, I could sell two big baskets, but now I struggle to sell just one basket. What we do among the sellers is buy and share one basket to sell for the day because we’ve noticed that not many people buy tomatoes like they used to.”
Recall that NBS reported that in June, the prices of tomatoes, beans, potatoes rise above 200 percent in the last one year.
In its Selected Food Price Watch for June 2024, NBS listed the ten most expensive staple foods in Nigeria in June 2024 as: Tomato, Yam tuber, Irish Potato, Brown beans, White black-eyed beans, Unripe Plantain, Onion Bulb, Ripe Plantain, Sweet Potato, and Broken Rice (Ofada).
Traders blame crisis on insecurity
Chairman of Mile 12 International Perishable Market in Lagos, Alh. Shehu Usman, said: “The reason for rising costs of food items is because most farmers in the North have been chased away from the farms by bandits, and many of them are now in IDP camps.
“The only solution to this problem is for people to return to the farms. If you are not farming and you are not importing food, so, how do you get the food?
The people who are struggling to farm cannot farm because bandits are disturbing them.
“The problem is enormous. The federal government should just make sure it provides enough security for people to continue farming. That is the only solution. The government must find a way of taking farmers away from IDP camps back to their farms.
“As long as farmers are not able to go to the farms, food items will remain expensive.”
In his comment, Chairman of Ile Epo Market, Oke Odo, Alh. Taofik Olorunkemi, said that insecurity is the major issue of the hike in food items because the farmers are not able to go to the farms due to the menace of kidnapping.
“Another reason for the food inflation is the increase in the price of petrol as a result of the removal of fuel subsidy, which has led to an increase in the cost of transportation.
“Also, many of the villagers who normally bring food items to the market no longer come around, because of civilisation. So, we sometimes have to go to the villages ourselves to source for the items,” he stated.
FG committed to food security
Meanwhile, the federal government has taken steps to crash the prices of some staple foods with the suspension of import duties and taxes on essential food items.
This is in addition to the government’s avowed commitment to ensure food security through the use of new farming techniques in Nigeria.
Speaking at a recent event, Minister of State for Agriculture and Food Security, Dr Aliyu Abdullahi, stated: “We are putting all efforts in place to ensure the availability of food across the country.”
He said the government was exploring various indices to ensure food security, working to ramp up food production by returning Nigeria to a sustainable food production system where the country would be engaged in all-year-round farming.
“We are fully aware of the current food challenge in Nigeria. and we are already planning for the next dry season.
“Having learned our lesson in the last one, we want to make a huge success of the next dry season farming.
“We in the Ministry of Agricultural Food Security are doing all we can, all that is necessary, all that is sufficient to reverse the current trend, ramp up our production, guarantee that with massive production, affordability can be guaranteed.”