The Abuja Chamber of Commerce and Industry (ACCI) has voiced its worries about the recent rise in electricity prices, highlighting potential threats to the long-term viability of businesses.
In a conversation with the News Agency of Nigeria (NAN) in Abuja, ACCI President Mr. Emeka Obegolu expressed concerns that this increase would adversely affect businesses throughout different sectors of the economy.
He noted the existing difficulties entrepreneurs and investors are grappling with and suggested that Small and Medium Enterprises (SMEs), vital to the economic fabric, would suffer considerably due to the increased tariffs.
- He stated, “Many enterprises are already struggling with reduced demand, supply chain disruptions, and financial constraints. The burden of higher electricity tariffs exacerbates their challenges and threatens their long-term viability.”
- “As advocates for the business community, we urge relevant authorities to reconsider this decision and explore alternative solutions that prioritise the needs of businesses and support ease of doing business.”
- “It is vital to strike a balance between ensuring a sustainable energy sector and mitigating the adverse effects of tariff hikes on businesses, particularly during these trying times,”
New tariff will stifle innovation
The president stated that the rise in tariffs would obstruct the ability of businesses to invest in new technologies and growth, and it would affect their competitive edge in local and global markets.
He further mentioned worries that the increased tariffs, along with other economic hurdles like the elimination of fuel subsidies and the consolidation of foreign exchange rates, might exacerbate the challenges encountered by businesses.
Backstory
- Last week, the Nigerian Electricity Regulatory Commission (NERC) increased the electricity tariffs for Band A consumers by over 300% from around N66 per KWh to N225 per KWh. The commission noted the hike only affect around 17% of the total electricity consumers in the country who receive up to 20hrs of electricity daily.
[Nairametrics]
Banyana Banyana head coach, Desiree Ellis believes there is still plenty to play for in their 2024 Olympic Games qualifier against the Super Falcons of Nigeria.
The reigning African champions lost 1-0 to Nigeria in the first leg at the Moshood Abiola Stadium, Abuja on Friday night.
Asisat Oshoala converted from the spot two minutes before the break after Chiwendu Ihezuo was fouled inside the box by Noko Matlou.
Ellis’ side were outplayed by the Super Falcons in the keenly contested encounter.
The gaffer is however optimistic her team will turn things around in the second leg.
“Look, we said it was going to be a tight game but we are hopeful of overturning this result in the second leg,” Ellis was quoted by Safa.net.
“We are still in the game. We created a couple of chances, a penalty decided the match but the game is not over. I thought in the second half we raised our game a lot and created good chances and could have equalized.
“Maybe we could also have gotten a penalty at the end when Jermaine was fouled but I’m very proud of the team and we will take it back to Pretoria.”
[Leadership]
The Lagos State Consumer Protection Agency (LASCOPA) is flexing its muscle, directing all supermarkets and grocery stores within the state to ensure clear price tags on all products. Failure to comply will result in hefty fines or even closure, the agency warned.
This directive, announced on the Lagos State government website, comes as part of LASCOPA’s ongoing efforts to protect consumer rights and ensure transparency in pricing. Afolabi Solebo, LASCOPA’s General Manager, emphasized that the absence of price tags is a clear violation of both consumer rights and the Lagos State Consumer Protection Agency Law.
“Without clear price tags, shoppers are left in the dark,” stated Solebo. “They cannot compare prices effectively or make informed decisions about their grocery purchases. This is simply unacceptable and contradicts the Consumer Protection Act, which mandates the clear display of prices for all goods and services.”
LASCOPA is taking a no-nonsense approach. The agency will impose fines on non-compliant stores, and repeat offenders risk being shut down entirely. Solebo urged residents to be vigilant and report any supermarkets or grocery stores neglecting to display prices on their products.
This move by LASCOPA follows a similar action taken in February by the Federal Competition and Consumer Protection Commission (FCCPC) which sealed a supermarket in Abuja for its opaque pricing practices. It appears that price transparency is becoming a top priority for consumer protection agencies across Nigeria.
The external debt situation for low and middle-income countries (LMICs) has changed drastically over the last decade and is out-pacing the economic growth of these countries, thereby raising serious concerns. The situation is even worse for poor countries where external debt stocks have risen at the fastest pace as compared to other LMICs. Moreover, the debt vulnerabilities exacerbated in many low-income countries eligible for International Development Association (IDA) resources.
The debt accumulation in these countries has increased to the extent that more than 60% of IDA-eligible countries were marked to be at high risk of debt distress in 2023. According to the International Debt Report 2023 by the World Bank, the external debt stocks for LMICs decreased marginally by 3.4% from $9.3 trillion in 2021 to $9.0 trillion in 2022. However, it increased by 2.7% for IDA-eligible countries during the same year, reaching an all-time high of $1.1 trillion.
20. Argentina
Total External Debt to China (2022): $2.86 billion
Argentina is a South American country that ranks as the 20th country most in debt to China. The total external debt of Argentina to China in 2022 amounted to approximately $2.86 billion.
19. Mongolia
Total External Debt to China (2022): $3.02 billion
Mongolia is an East Asian country that borders itself with China and Russia. It ranks 19th on our list of 20 countries most in debt to China. The country's total external debt to China in 2022 amounted to $3.02 billion.
18. Brazil
Total External Debt to China (2022): $3.38 billion
Brazil, another South American country, owed approximately $3.38 billion to China as external debt in 2022. The country ranks 18th on our list.
17. Republic of the Congo
Total External Debt to China (2022): $3.42 billion
The Republic of the Congo, also known as the Congo (Brazzaville), is an African country ranked as the 17th country most in debt to China. The total external debt of Congo to China was $3.42 billion in 2022.
16. South Africa
Total External Debt to China (2022): $3.43 billion
South Africa owed $3.43 billion to China as external debt in 2022, making it the 16th country most in debt to China.
15. Cameroon
Total External Debt to China (2022): $3.78 billion
Cameroon is a Central African country ranking 15th on our list of 20 countries most in debt to China. The country owed China approximately $3.78 billion as total external debt in 2022.
14. Côte d'Ivoire
Total External Debt to China (2022): $3.85 billion
Côte d'Ivoire is a West African country characterized by its beach resorts and rainforests. The country ranks 14th on our list, and its total external debt to China in 2022 amounted to $3.85 billion.
13. Belarus
Total External Debt to China (2022): $3.92 billion
Belarus ranks as the 13th country most in debt to China. It is a landlocked country situated in Eastern Europe. The total external debt of Belarus to China amounted to $3.92 billion in 2022.
12. Cambodia
Total External Debt to China (2022): $4.01 billion
Cambodia is a Southeast Asian country with an important geographical location providing river trade routes linking China to India and the rest of Southeast Asia. It ranks as the 12th country most in debt to China, with its total external debt amounting to $4.01 billion in 2022.
11. Ecuador
Total External Debt to China (2022): $4.14 billion
Ranking 11th on our list is Ecuador, another South American country known for its environmental diversity. Ecuador's total external debt to China amounted to $4.14 billion in 2022.
10. Nigeria
Total External Debt to China (2022): $4.29 billion
Nigeria is a West African country with a total external debt of $4.29 billion to China in 2022. It ranks among the top 10 countries most in debt to China.
9. Egypt
Total External Debt to China (2022): $5.21 billion
Egypt ranks 9th on our list of countries most in debt to China. It is at an important geographical position linking Northeast Africa to the Middle East. The country owed China $5.21 billion as total external debt in 2022.
8. Lao People's Democratic Republic
Total External Debt to China (2022): $5.25 billion
Lao People's Democratic Republic is a Southeast Asian country ranking 8th on our list. Laos had a total external debt of $5.25 billion to China in 2022.
7. Bangladesh
Total External Debt to China (2022): $6.05 billion
Bangladesh, another South Asian country, ranks as the 7th country most in debt to China. It owed China approximately $6.05 billion as total external debt in 2022.
6. Zambia
Total External Debt to China (2022): $6.08 billion
Zambia is a landlocked country situated in the African region. The country stands as the 6th country most in debt to China on our list, with a total external debt of $6.08 in 2022.
5. Kenya Total External Debt to China (2022): $6.69 billion
Kenya ranks as the 5th country most in debt to China. It is an East African country with its Indian Ocean coast providing historically important ports linking the Arabian and Asian regions to Africa. The country owed China a total external debt of $6.69 billion in 2022.
4. Ethiopia
Total External Debt to China (2022): $6.82 billion
Ethiopia is the 4th country most in debt to China on our list. It is a landlocked country in Africa, with its total external debt to China amounting to $6.82 billion in 2022.
3. Sri Lanka
Total External Debt to China (2022): $8.84 billion
Sri Lanka is an island country in the Indian Ocean. It is situated at a strategically important location at the crossroads of maritime routes traversing the Indian Ocean. Sri Lanka owed China a total of $8.84 billion as total external debt in 2022.
2. Angola
Total External Debt to China (2022): $20.98 billion
Angola is a Southwestern African country ranking 2nd on our list of countries most in debt to China. Luanda is its capital city and a commercial center, characterized by its large port on the northern coast and modern industrial complexes. The country owed China a total of $20.98 billion as external debt in 2022.
1. Pakistan
Total External Debt to China (2022): $26.60 billion
Pakistan ranks as the most in debt country to China with its total external debt to China amounting to $26.60 billion in 2022. It is a South Asian and a neighboring country to China, India, Afghanistan, and Iran.
Arsenal star, Kai Havertz has singled out the club’s defenders for praise following the Gunners’ Premier League 3-0 win over Brighton on Saturday.
Havertz said what Arsenal defenders are doing at the back is outstanding after they recorded another clean sheet against Brighton to go top of the Premier League table.
He said how they defend the box is ‘incredible.’
Arsenal defenders include the likes of Gabriel, William Saliba, Ben White’s and Oleksandr Zinchenko.
“The attitude and work-rate of the boys is phenomenal and everyone put everything into that game – that is why we are successful right now,” Havertz said at his post-match interview after the game.
“The boys at the back, what they are doing is outstanding and everyone is involved in that. We try to get the ball high up the pitch, but how they defend the box is incredible.”
[DailyPost]
The Deputy National Chairman of the Labour Party (LP), Comrade Ayo Olorunfemi, has pointedly accused a former national chairman of the ruling All Progressives Congress (APC), Adams Oshiomhole, of being the brain behind the crisis in the LP.
Oshiomhole, a serving senator, is a former national chairman of the Nigeria Labour Congress (NLC).
The NLC and the leadership of the LP have been at loggerheads over the ownership of the party.
In an interview with a national newspaper, Olorunfemi said Oshiomhole’s ‘boys’ created a crisis between the NLC and the LP.
His words: ”This party rose from the ashes when former Governor Mimiko won election twice and used it to better the lots of the people of Ondo State.
”He left because Adams Oshiomhole will always seek to control the soul of the NLC. At that time, I was not too active in the party, but now, we will not allow Oshiomhole to take over the party.”
Asked if he was certain Oshiomhole was behind the crisis in the LP, Olorunfemi said:
”He is not playing it openly, but we can see his hands and his imprimatur everywhere. We can see the roles being played by his people and his numerous supporters since the crisis began.
”The people fomenting this crisis are his boys. We know him, we know what he can do, and we know what he has done in the past.
”We saw how he frustrated former Governor Mimiko and others out of the party. We told them that it was dangerous to allow Oshimhole to have a field day. We want Mimiko back in our party, and after this war, we will bring him back.
”That was what the party could not do at that time that made Mimiko and others leave the party.”
Until he was arrested and convicted in London where he is currently serving a jail term, Senator Ike Ekweremadu was a renowned politician and lawyer who dominated Nigeria’s political landscape like a colossus for several decades.
He was best known for his role as the Deputy President of the Senate. During his time in the Senate, Ekweremadu represented the Enugu West Senatorial District.
As Deputy President of the Senate, Ekweremadu was the Chairman of the Joint Committee of the National Assembly on the Review of the 1999 Constitution.
He played a significant role in Nigeria’s legislative process, formulating and enacting laws and policies. He also represented the Senate at various national and international fora, contributing to Nigeria’s overall diplomatic relations and legislative diplomacy.
Ekweremadu was involved in efforts to promote good governance, the rule of law, and democracy in Nigeria. He advocated for constitutional reforms, electoral reforms, and the protection of human rights.
But things took a swift turn downhill for the senator when he and his wife Beatrice were arrested in London and charged with conspiring to bring a child into the UK with the aim of harvesting his organs. An investigation of the crime went on for about 11 months from when the Metropolitan Police were informed of potential violations of modern slavery legislation. Ekweremadu was tried, convicted and jailed for nine years and eight months, while his wife was sentenced to four years and six months imprisonment.
His influence and celebrity status quickly diminished after his arrest, conviction and sentencing. He has since disappeared from the political space in Nigeria. Many Nigerians have blamed him for not using his influential position to attract world-class hospitals in Nigeria, which could have prevented the medical tourism that landed him in trouble.
His experience should serve as a lesson for other Nigerian political leaders.
[ThisDay]
Brighton boss Roberto de Zerbi has said they could not compete with Arsenal due to injuries, as they lost 3-0 on Saturday.
Bukayo Saka opened the scoring for the Gunners from the penalty spot in the first half.
Goals from Kai Havertz and Leandro Trossard in the second half ensured Arsenal took all three points at the Amex.
De Zerbi, speaking to BBC MOTD, said: “We played a good first half and played well in the second half until the second goal. After that, we played not so good and deserved to lose against one of the best Premier League sides. With our injured players, we can’t compete against Arsenal.
“We are sorry and disappointed for our fans. We wanted to get points, to win the game and compete in better ways. We are having a tough moment because we are playing without a lot of injured players. It is tough.”
The Economic and Financial Crimes Commission, EFCC, has arrested an Ilorin based clergyman, Prophet Adeniyi James, for allegedly defrauding a member of his church to the tune of N3.9 million.
A statement by the Commission’s Head of Media and Publicity, Dele Oyewale, on Saturday, said the Ilorin Zonal Command arrested James on April 2, 2024 for the alleged offence.
It was gathered that James is the General Overseer of Christ Apostolic Church, CAC, Freedom City Prophetic and Deliverance Ministry in Ilorin.
Oyewale noted that the victim, Oluwole Babarinsa, in a petition to the Commission, alleged that James called him out during a church programme sometime in 2021, declaring that he had a revelation that he (Babarinsa) would travel abroad.
“The petitioner said the cleric, in the course of giving the revelation, asked him about his preferred country, which he replied ‘Canada’ and they agreed to talk later in order to perfect arrangements for the trip.
“The petitioner said James later told him that he had a friend in Lagos who could help him facilitate his relocation to Canada, but at a cost of N1.7 million and N2.5 million for processing of flight ticket and travel documents, respectively.
“Babarinsa added that he had to sell some of his properties and took some loans before he could raise N3,980,000 which he gave the prophet to facilitate his quick relocation to Canada.
“After prolonged waiting with no result, the petitioner became agitated and began to query the prophet’s vision, prompting him to ask for a refund of his money.
“All efforts and entreaties to the suspect to refund his money yielded no positive result,” EFCC spokesman said.
The suspect would be arraigned in court after the conclusion of the investigations, Oyewale added.
'Naira days are gone' - Trans-Border Traders Reject Nigeria Currency For Business Transactions
AFOLABIAs a result of the depreciation of the Nigerian currency (Naira) over the past few months, additional challenges have arisen for the local currency in the West African market region. Trans-border traders have begun to refuse acceptance of the currency.
Vanguard findings across the Seme border show that the traders on both sides are now preferring either the CFA or the domestic currency of the non-francophone countries.
Hitherto, Naira ruled the sub-region as the dominant currency accepted as a medium of exchange by traders across the borders due to the high volume of trade between those countries and Nigeria.
The Nigerian currency traded in the status of convertibility in the unofficial payment systems of the countries.
However, Vanguard’s findings indicated that the Naira began sliding from that status in February, hitting the point of outright rejection in March 2024.
Some of the traders interviewed by Vanguard included Nigerians. They lamented that holding Naira has become a huge risk as the value keeps depreciating since last year with the worst rate of depreciation recorded last month.
Official reports indicate that Naira which traded above N1/1.5CFA in the first quarter of 2023 dropped sharply to N1/0.9CFA in the second quarter and N1/0.8CFA in the third quarter 2023.
After a moderate stability through the fourth quarter 2023, it opened 2024 at N1/ 0.66067CFA in January 2024.
However, following a second wave of depreciation in February, the sub-regional fortune went down drastically to N1/0.38308CFA before hitting a new low of N1/0.37595CFA last week.
The traders are already hedging against further depreciation although there’s a slight improvement in the last few days.
However, the Naira is still not close to what it used to be in the subregion some years ago. The development is adversely affecting the cost of goods imported into Nigeria through the West African economies. Consequently, the traders are recording a lull in business activities on both sides of the border towns in Nigeria and the Benin Republic.
Some border markets in Benin-Nigeria visited showed that most of the money changers or Bureau De Change, do not display the Nigerian currency like they did last year.
Even transporters and bike riders otherwise known as Okada in Nigeria, across the borders declined payment in Naira, saying that by the time they return to convert Naira to CFA, they would have lost some fraction of their earnings. Consequently, they said CFA was safer to hold.
A bike rider, Ibrahim Yakubu, who took our correspondent from the Seme border into the ‘Misebo’ market (about 45 kilometres from the border) refused to accept Naira and insisted on collecting his payment in CFA.
Yakubu also said that before now, the Naira was strong adding that it was easily accepted as a means of payment for goods and services.
A money changer, Taiye Ekiti blamed the development on the United States Dollar adding that the cost of Dollar was the reason for the depreciation of the Naira in Benin Republic and other countries including Togo and Ghana, adding that they as Bureau De Change are equally as helpless as other business people.
A Nigerian trader who deals in fairly used clothing, Mr. Achi Collins, said that most traders do not accept Naira anymore, adding “that is how much the Naira has lost value over time.”
Collins also said that most traders would tell their customers to change their money to CFA before they can accept it as payment for goods.
He however, added that around the border town of Seme, there could be few traders that still accept Naira for payment but their goods cost more.
He also noted that inside the cities of Benin Republic, Naira is not acceptable because of the value when compared to the strengthening of the CFA.
He further stated: “If you want to buy something here you will go and change your Naira to CFA before you buy whatever you want.’’
Before now, Naira was accepted on the west coast, up to Ivory Coast and Senegal. Traders freely spent Naira in many countries of West Africa. Nigerian sports journalists who covered sports events in Benin Republic, Togo, Ghana, Senegal and Ivory Coast spent Naira in the markets of these countries. Naira was stronger than CFA then. Those days are gone. The naira is now rejected in these countries.
More...
Beverly Osu, the popular Nigerian actress and model, has explained why dropped out of the university.
Beverly spoke on the latest episode of The Discourse With Ken where she opened up about her experience juggling budding career as a video vixen and school.
She stated that her school was going well up until she started getting criticisms for being a vixen.
“In Babcock University everything was nice and education was going well but because I was on TV at the age of 16 as a video vixen.
“Nigerians did not understand the term video vixen then so they always used to criticise me and take pictures to school. I used to get in trouble in school every weekend, and I mean every weekend,” she said.
On why she left the institution, she said: “I just felt that let me leave before it gets sour, you know how Babcock is, it’s very strict for lack of a better word. I left because I felt so comfortable doing what I was doing and I knew I could balance it, so I left.”
On her parent’s reaction to the development, Osu stated that her mother was initially displeased but eventually came around.
“My mum didn’t believe that I left and she was like ‘After all the money I paid.’ We had struggled back and forth because of it but at a point, she just knew that ‘This girl is determined and Ada would do what Ada wants to do.’ I strived because I knew that modelling was it for me,” she concluded.
HRH David Akpa, the district head and traditional ruler of Bagaji Odo in Omala Local Government Area of Kogi State, has stated that herdsmen were responsible for the attack in Agojeju-Odo community, resulting in the loss of 25 lives.
The attack reportedly occurred on Thursday.
The monarch, who spoke to DAILY POST on Saturday, said the community has been completely deserted.
According to him, residents of the community have relocated to Bagaji Odo, Abejikolo, Acha and other neighboring communities over fear of further attacks.
“The herdsmen are behind the attack at Agojeju-Odo community which led to the death of 25 people. They came in their numbers and started killing people.
“They have been harvesting our crops, preventing our people from having access to their farms. Whenever they come, they will be asking ‘are you from Agatu?’ and many more questions,” the traditional ruler said.
He called on the government to provide security for his people.
“The government should come to our rescue before things gets out of hand. Our people are being killed by this herdsmen.
“Those that have relocated to Bagaji Odo and are thinking of relocating out of here because there is information that these herdsmen are coming here to attack.”
One of the survivors of the attack, who gave his name as Joshua Salifu, narrated what happened.
“The herdsmen came at about 3:00 am on Thursday and started killing our people. I am yet to find my wife and my children. About 25 people were buried in our village.
“We don’t know what is our problem with them. This is not the first time they are attacking us. They killed four of our people the last time before Thursday’s incident. We could no longer go to our farms and the rainy reason is fast approaching. What are we going to do?
“The government should help us with adequate security so that we can go back to our community,” he stated.
It would be recalled that earlier in January 2024, yet to be identified gunmen attacked Agojeju-Odo community, killing four people.
The Commissioner for Commerce in Jigawa State, Aminu Kanta, has been suspended over alleged misappropriation of Ramadan feeding funds.
The state governor, Umar Namadi, who suspended the commissioner, said it is with immediate effect.
He noted that the suspension followed the allegations of misappropriation of funds allocated for the Ramadan Iftar feeding programme in the Babura Local Government Area of the state.
This is contained in a statement by the Secretary to the State Government, Bala Ibrahim, on Friday in Dutse, the state capital.
The affected commissioner, according to the statement would remain suspended, pending the outcome of an investigative committee established by the governor to probe the allegation.
“Governor Namadi’s action underscores his commitment to responsible financial management and tackling misuse of public funds,” the statement said.
The General Overseer of The Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, has cautioned individuals who criticize and mock him to proceed with caution. The cleric emphasized that those who engage in such behavior ultimately meet unfortunate ends.
Pastor Adeboye said even though he is nothing and weak, those mocking him and the mission should know that his God is a consuming fire.
He reminded his critics that the word of God made it clear that anyone God will use must be foolish, must be weak, be a nobody so that nobody will get the glory.
Recall that Adeboye had been drawing criticism from several celebrities and on-air personalities over some of his declarations and comments.
Adeboye’s sermon
Adeboye made the comments during his sermon and annointing service at the monthly Holy Ghost service. It was held on the theme: “Shielded by Fire” at The Redemption City of God.
In his words: “If Paul, who wrote more than half of the New Testament, claimed to be less than the least of the saint, according to Ephesians 3:8, Pastor Adeboye is nothing.
“However, his God is everything. Listen to me carefully, Adeboye is one stupid boy and I would prove it to you before I close, But his God is wiser than the wisest.
“Adeboye is weak, he eats pounded yam and goes to the toilet. But his God is stronger than the strongest. Adeboye is nothing but his God is the All-sufficient God.
“So there is nothing spectacular. There is no big deal if you mock Pastor Adeboye. He deserves to be mocked.
“The word of God made it abundantly clear. Anyone that God will use must be weak, foolish, and a nobody, so that only God will take the glory. So you can mock Adeboye, but you must not mock his God.
“Why? Because Adeboye is nothing, there is nothing he can do to you. But his God is a Consuming fire.”
Going further, he revered cleric asked his members series of questions.
“I want to ask you some questions. The fact that the leaders of Boko Haram are Muslims or claimed to be Muslims, does that mean every Muslim is a terrorist?
“Because one Islamic cleric said they should kill our first lady, does that mean every Imman is a murderer.
“There was this guy called HUSSPUPPY, the fellow who was the original 419 man that was arrested in Dubai. He happens to be a Nigerian, does that mean every Nigerian man is a 419?
“If a pastor and his wife do something insensitive somewhere, does that mean every pastor everywhere is insensitive?
Pastor in Ireland
“Then what about this pastor somewhere in Ireland. They said he committed all manners of atrocities. How will you explain that?
“Number one, the way they reported it in Nigeria is different from the way is reported where it happen.
“Over there they said “a former pastor”. Meaning he used to be. But put that one aside.
“They didn’t tell you the whole story, they did not tell you that they did not catch the boy. But he reported himself and why did he report himself, he heard a sermon on restitution and decided it is better to suffer shame while here on earth than to go to hell.
“And where did he hear that sermon, in the Redeemed Christian Church of God. We are among the few churches left in the world that ever talk about restitution.”
‘I am not Justifying the unjustifiable’
While noting that the pastor might have backslided when he committed the crime, he said: “Do you know the Bible says he who thinks he stands should take heed, lest he falls?
“Even you standing today be careful. I pray you will never fall.”
“You can say ‘but he was ordained as a pastor’. But have you heard about backsliding? Once hot for the Lord and along the line became cold. The Bible even said ‘he that thinketh that he stand…’.
“I don’t want to give the impression that I am justifying the unjustifiable. The Lord prayed all night and chose 12 disciples. One of them turned out to be Judas Iscariot. One failure out of 12.
“If you consider the number of pastors in RCCG in Nigeria, alone. Don’t let me tell you the number. But let me tell you mathematically. The number of pastors in Nigeria alone today is more than 200 thousand.
“If we find one here, one there over there, well our Lord Jesus Christ the one we are following chose 12 but one was the devil.”
Nigeria’s Economy
Pastor Adeboye lamented the increase in the pump price of fuel and the hike in the electricity tariff.
He added that what is happening in Nigeria is not ordinary. Adeboye said when he saw the way things were going he had to quickly call on some prayer warriors to intercede for the country.
He said: “If I am not such a ‘stupid’ boy I would have asked God how worse things would get before they get better.
“I did not ask. So, you see how stupid a boy I am. All of a sudden we saw the Naira going down. I never knew the Naira would go so bad.
“I know nations who got independence at the same time as Nigeria whose money is like 10,000 to a Pound.”
However, he said he called for more prayers for the country and those in place of authorities. He urged Nigerians not to be tired of praying for the country.
“As I was coming out of the prayer room, I heard the government has increased the price of fuel and electricity tarrif had increased.
“If the price of fuel increases, it means the cost of transporting the food to the market will increase. It means the food will increase in price.
“I had this feeling that the rate this is happening is no longer natural.
“And then I heard a prophet had prophesied that things would only get better towards the end of 2025.”