Elder statesman and chieftain of the Peoples Democratic Party (PDP), Olabode George, has again, accused President Bola Tinubu of inflicting hardship on Nigerians.

George said despite the hardship caused by Tinubu’s economic policies, the President has not shown any concern for the plight of Nigerians.

The former Deputy National Chairman of the PDP lamented that there is so much hunger and anger in the land and there seems to be no respite in site.

Speaking on Channels Television’s Politics Today programme on Tuesday against the recent stampedes in three locations that led to the death of several Nigerians, George said President Tinubu’s policies are only making Nigerians poorer while businesses keep collapsing.

“There is hunger and anger in the land.

“We are not feeling it, it is going worse by the day,” George said.

Commenting on Tinubu’s presidential media chat held on Monday, George said the President’s words lacked any conviction or hope. He described the presidential media chat as a bad way to end the year.

“Hunger doesn’t believe in your talk, you gotta be real.

“I’m surprised that there is no iota of somberness and humanity in the discussion. Why do you have a discussion in the first instance?” he submitted.

Naija News reports the PDP chieftain further asked President Tinubu to reduce the price of petrol and offer palliative to hungry Nigerians affected by his administration’s harsh economic policies.

The Peoples Democratic Party (PDP) says President Bola Tinubu’s comments during his media chat on Monday indicate that he is not worried about the economic hardship facing Nigerians.

In a statement reacting to Tinubu’s first media chat, Debo Ologunagba, PDP spokesperson, said the president is insensitive to the “widespread suffering and hardship” afflicting citizens for saying that he does not regret removing the petrol subsidy.

“The declaration by President Bola Ahmed Tinubu that he has no regrets for the sudden removal of fuel subsidy without any cushioning measures to mitigate the resultant crippling effect on the productive sector, high cost of living, and associated hardship, which is now driving citizens to extreme poverty and early death, also confirms APC’s disconnection from the primary purpose of government, which is the welfare and security of the citizens,” the statement reads.

“It is instructive that President Tinubu in the chat admitted that Nigerians are bearing the brunt of the failure and inability of the APC administration under his watch to effectively police and secure our nation’s borders so as to prevent the smuggling of petroleum products to neighbouring countries.

“The PDP is disturbed that while the APC has failed to account for the proceeds saved from the removal of the subsidy, Nigerians are subjected to crushing economic hardship because the APC administration has failed in its fundamental duty of ensuring the territorial integrity of our nation.”

Ologunagba said rather than “admitting failure and seeking solutions,” Tinubu claimed that the nation’s economy has improved under his watch.

The PDP spokesperson said the economy has worsened with a “comatose productive sector, a deteriorating value of the naira and soaring inflation of 34.6 percent”.

Ologunagba said the stampedes recorded during palliative distribution showed that the nation is “indeed in perilous times under the APC”.

“The PDP holds that there is no hope in sight under the APC given its failure to embark on meaningful investments in critical sectors, including agriculture and food production, electricity, petroleum and gas, and small and medium-scale enterprises, which are the real drivers of the national economy,” he said.

Ologunagba said Tinubu’s assertion that Nigerians can now safely travel by road despite kidnappings on highways is false.

The PDP spokesperson asked the president to travel from Abuja to Lagos by road, visit markets, or walk on the streets to “properly gauge and appreciate the real situation in the country rather than relying on fabricated statistics being bandied by officials of his government”.

Governor Hyacinth Alia has announced a two-week holiday for civil servants in Benue State to commemorate the 2024 Christmas and New Year celebrations.

The announcement was made on Tuesday in Makurdi as part of the governor’s Christmas address to the citizens of Benue.

The holiday is set to begin on Tuesday, December 24 and will conclude on January 6, 2025.

Governor Alia indicated that this extended holiday aims to provide workers with the opportunity to celebrate the festive season with their families. He also encouraged them to utilize this time for agricultural activities to enhance food production and combat poverty.

The governor highlighted that essential service providers would create schedules to maintain uninterrupted services throughout the holiday period.

He identified essential service providers as including financial institutions, energy suppliers, security agencies, healthcare facilities, telecommunications, fire services, and the water board, among others.

Alia called upon the people of Benue to continue nurturing a spirit of love and peace while remaining dedicated to the development of a better state. He also extended his wishes for a peaceful and joyful Christmas and New Year celebration.

“In the spirit of the Yuletide and in conjunction with the Benue Executive Council, I’m pleased to announce an elongated Christmas and New Year holiday for the state workforce. This decision underscores our commitment to supporting the well-being of our workers.

“While you enjoy this festive season with your loved ones, it is also expected that the holiday will afford you time to attend to your various agricultural engagements,” the Governor stated.

President Bola Tinubu says the hike in petrol price forced his friend to abandon his five Rolls-Royce cars for a Honda Accord. 

The president spoke on Monday in his first media chat since becoming president on May 29, 2023.

Tinubu announced the removal of petrol subsidy during his inaugural speech — a move that has resulted in a hike in the price of the product from about N200 to over N900 across the country.

Speaking on the situation, Tinubu advised Nigerians to “learn to manage”, adding that prudence is “not negative”.

“People are learning management. A friend used to brag to me that he has five Rolls Royce. The other day I saw him in his Honda Accord. He said that’s where you put me. I told him ‘I did not put you there’,” the president said.

“But he said it was because of fuel prices that he could no longer maintain five limousine-type vehicles. It is not negative to learn to manage. Switch off the light to control your electricity bill. Let us learn to manage.”

Tinubu appointed 48 ministers — the highest since Nigeria returned to civilian rule in 1999.

 

Despite criticisms, the president said he will not be downsizing his cabinet. 

Aliko Dangote, chairman of Dangote Industries Limited, says the Nigerian National Petroleum Company (NNPC) Limited’s $1 billion investment in the refinery is a drop in the ocean.

On December 16, NNPC said its $1 billion crude-backed loan was instrumental in supporting the refinery during liquidity challenges.

Responding, Dangote refinery denied experiencing liquidity challenges when the national oil company invested $1 billion to support the plant’s construction.

In an Arise TV documentary video on Monday, the billionaire said the contribution was a fragment of investments in the refinery.

“In 2021, when we signed the agreement, even if you give us $1 billion, $1 billion is a drop in the ocean in a $20 billion refinery,” Dangote said.

“When NNPC said ‘give us one more year, we want to change the agreement, we would rather pay you cash,’ because people don’t really understand this issue about $2 deduction on the crude.

“Can we make sure that there’s clarity around it? So what do you want? So they said they would pay us cash, and we should give them one more year.

“We gave them one more year. So from June last year to June this year. So on June 4th or 5th, I called NNPC and they gave us a week.”

Dangote said sometime later, the NNPC decided to back out of the transaction abruptly when the payment was due.

“I said, okay, fine. We just walked away and we just continued. But we still went ahead, we finished our refinery. Our refinery is operating,” he said.

Speaking further, Dangote said it is very “cheeky and nasty for the person who ever came up with that nonsense, saying that NNPC gave us $1 billion to assist us in our liquidity crisis”.

He added that “it’s totally not true; these are just a bunch of lies”.

In September 2021, NNPC acquired a 20 percent interest in Dangote refinery for $2.76 billion.

NNPC paid $1 billion upfront in cash, with a balance of $1.76 billion expected to be paid for in crude supplies.

However, on July 14, Dangote said the national oil company now owns 7.2 percent stake in the refinery.

On August 13, NNPC confirmed it reduced the stake to invest in compressed natural gas (CNG).

‘WHY DANGOTE REFINERY REDUCED EX-DEPOT PETROL PRICE TO N899.50’ 

Speaking on why the Dangote refinery reduced the ex-depot petrol price to N899.50, Dangote said it was a response to market realities.

“It is a refinery where we invested over $20 billion and I think we have to try and protect our interests and also our investments,” the business tycoon said.

On December 19, the Dangote refinery reduced the ex-depot price of its petrol to N899.50 per litre.

Similarly, the refinery partnered with MRS Oil Nigeria Plc filling stations to sell petrol at N935 per litre.

‘WHY I ADVOCATE FOR DOMESTIC PRODUCTION’

Dangote said when the country imports petroleum products, there is more pressure on foreign exchange (FX).

“40 percent of our demand on foreign exchange is through people dealing in petroleum products and the more we allow imports to come in — not because I do not want imports — the more we keep using most of our foreign exchange out of the country,” he said.

“Majority of those letters of credit open for petroleum products, the goods are not coming into Nigeria.

“There is nothing you would do that you won’t get criticism for. But I think we cannot also control people from saying their minds.”

Dangote reiterated that he was open to criticism, adding that in the history of Nigeria, in the last 100 years, “nobody has put in $20 billion in any project”.

The Legal Practitioners Disciplinary Committee (LPDC) has rejected a request by Emmanuel Chambers, Afe Babalola’s law firm, to disbar Dele Farotimi, a human rights advocate, for alleged unethical conduct.

The firm had written a 90-page petition dated December 6, 2024, and signed by Ola Faro, a partner in the firm, to the LPDC.

In the petition, the firm accused Farotimi of engaging in “conduct that is unbecoming of a legal practitioner, by making false accusations against the supreme court and the legal profession”.

Faro said Farotimi’s book, ‘Nigeria and its Criminal Justice System,’ discredited the nation’s judiciary and judges.

In its report, (B8B/LPDC/1571/2024), the LPDC, represented by Isaq Bello, its chairman, said the alleged offenses occurred in Farotimi’s capacity as an author, not during his practice as a legal professional.

The LPDC said it lacked jurisdiction to address complaints about publications and advised the aggrieved parties to seek redress in regular courts.

“The publication is an intellectual property and not a conduct or action committed while practicing as a legal practitioner. All aggrieved parties who find the publication ‘defamatory’ should ventilate their grievances through the regular courts,” the report reads.

Meanwhile, Farotimi was released from the correctional centre in Ekiti state on Tuesday morning after perfecting his bail conditions.

On December 9, the federal high court in Ekiti granted Farotimi N50 million bail with one surety, following a 12-count charge bordering on cybercrime filed by the inspector-general of police.

As Nigerians celebrate Christmas, traders across various markets in Nigeria are lamenting poor patronage amid skyrocketing food prices, a sharp contrast to the festive sales experienced in previous years.

In Lagos, Abuja, Osun, Rivers, Edo, Kano, Kaduna, and Sokoto, among other states, traders decried the high cost of food items and ever-increasing food inflation on the jump in the petrol pump prices nationwide.

This came as consumers of food commodities called on the Federal Government to work hard to address the spike in Nigeria’s inflation, as they lamented their inability to buy food items to celebrate Christmas.

At the Bwari market in the Federal Capital Territory, a tomato seller, Ramatu Ali, shared her plight with The PUNCH on Tuesday.

Despite a slight drop in the price of a basket of big Derica fresh tomatoes—from N58,000 on Monday to N45,000 on Tuesday due to a glut in the market—customers remain scarce.

“By December last year, a basket of tomatoes cost N30,000, and sales were much better. Now, the prices are relatively high, and customers are not coming like before,” Ali lamented.

Similarly, another trader, Mallam Musa, expressed concern about the perishability of his goods.

“We hope to dispose of our stock before tomorrow because these tomatoes are perishable. You can see how I packed the old ones I sold for N58,000 yesterday to sell this new stock, but buyers are pricing for less. This is not a favourable season for us at all,” he said.

A survey conducted by The PUNCH revealed significant price disparities across markets. A bag of local rice sells for N76,800 in Bwari Market but is priced higher at N86,400 in Suleja Market.

The poultry section is no exception, with broilers selling at a minimum of N25,000 for an average-sized bird, up from N15,000 to N20,000 last year.

Mama Ibeji, a chicken seller, attributed the increase to rising transportation and feed costs.

“The price we sell chicken now has increased by about N10,000 to N15,000 because of the high cost of feed, poultry drugs, and transportation. I believe Nigerians will still manage to buy this season, but it’s not like last year. I also need money to take care of my family this Christmas,” she explained.

The frustration is equally felt by buyers. A shopper, Igono, expressed shock at the price of onions.

“A small basket that sold for N5,000 last year now costs N15,000. Four pieces of onion bulbs for N1,000? This is too much,” he lamented.

“I couldn’t buy as much as I needed. We will manage whatever I can afford,” he added.

According to the World Bank, the rising poverty levels in Nigeria, which now affect 104 million people compared to 79 million five years ago, have exacerbated the situation.

With an inflation rate of 34.6 per cent in November—the highest in 28 years—economic instability and the removal of fuel subsidies have caused food and festive item prices to increase.

A 50-kg bag of beans in Bwari market now costs N170,000, up from N40,000 in December 2023.

Other food items have followed a similar trend. A kilogram of goat meat costs N4,000, while frozen foods have doubled in price.

High petrol prices

A visit to Ile Epo Market in Lagos by our correspondent on Tuesday revealed an alarming hike in prices compared to the previous year, with traders attributing the increase to rising transportation costs fueled by high fuel prices and overall inflation.

A trader simply identified as Iya Mustafa, stated that a 25-litre container of groundnut oil, which sold for N41,000 last year, now goes for N95,000, nearly doubling in price. Similarly, the cost of a bag of sweet potatoes has risen from N25,000 to N80,000.

“We are not happy about the situation because customers are complaining bitterly, but we have no choice but to sell at these prices since we also buy at higher rates,” she said.

Another trader identified as Moshood told our correspondent that the poultry section has also witnessed a steep increase in prices.

He added that a carton of chicken laps, which was N29,000 last year, now costs N50,000, while a carton of turkey has jumped from N35,000 to N60,000.

Additionally, rice, a staple in most Nigerian homes during festive periods, now costs N90,000 for a bag, compared to N41,000 last year.

Moshood noted that the situation is no different for tubers of yam, which now sell for between N5,000 and N6,000, depending on the size, up from N1,500 and N1,700 last year adding that the price of a basket of tomatoes, a key ingredient in Nigerian cuisine, has soared to between N60,000 and N70,000, from N20,000 to N22,000 last year. Similarly, a basket of pepper that sold for N13,000 last year now costs between N50,000 and N60,000.

Abimbola, another trader, explained, “Transportation has become very expensive due to the high cost of fuel. This is why food prices keep going up. Customers are frowning, but we are also struggling to keep up.”

Traders at Ile Epo Market have called for government intervention to address the rising cost of transportation and essential goods, as the current situation threatens to overshadow the joy of the festive season.

Lagos markets filled

Nigerians were observed in their numbers at popular markets in Lagos as they made last-minute purchases ahead of the Christmas celebration on Wednesday.

Visits to these markets showed that the prices of foodstuffs and other items had increased compared to last year and even last week, Nigerians were still buying what they could.

At the Ijora frozen foods market, the price of a carton of turkey jumped from N44,000 last Thursday to N57,000 on Monday.

A carton of chicken was retailing at about N84,000, and a sack of croaker fish was sold for N120,000.

There were lots of customers buying clothes and such at the popular Tejuosho market although some of the surrounding bookshops had closed for the Yuletide.

It was at the Tejuosho market that The PUNCH correspondent discovered that some Point-of-Sale operators had devised means to avoid paying the N50 electronic transfer levy on transactions above N10,000.

Withdrawing N9,999 instead of N10,000, a POS operator, Miracle Daniel, explained that was her way of avoiding the levy.

“This way, I won’t have to pay that N50. They want to kill us. The machine will collect its charges, but they will still charge me the electronic transfer levy. See ehn, N1 will not kill me,” she argued.

Point-of-sale operators raised their charges in early December in line with the implementation of the Electronic Money Transfer Levy of N50 by the Federal Inland Revenue Services charged on any electronic transactions of N10,000 and above.

At the Tradefair market along the Lagos-Badagry Expressway, there were a lot of business activities as customers bought cosmetics, hair, makeup, perfumes, and foodstuffs.

The prices of onions ranged from N10,00 to N30,00 for small to medium-sized pieces.

Big yellow bell peppers were N2000 a piece same with the red ones. A ball of cabbage was priced from N1000 upwards. A paint bucket of tomatoes was N6000 inside Tradefair, and half of it was N3500.

Some live broilers sold for N20,000 and N18,000 each and a pair of layers sold for N17,000.

A customer, Nneka described the two layers at N17,000 as a better deal compared to the other one.

“This time last year, I would be using that N20,000 to buy two of the boilers but here we are,” she added.

Live turkey at the Iyana-Iba market went for N31,000.

A survey visit by one of our correspondents at the Karimo market showed that a 50kg bag of rice sold at N85,000, indicating an increase of N33,000 or 66.46 per cent from the N52,000 it sold in December 2023.

Further enquiries showed a bag of beans sold for N110,000, Groundnut oil costs N3,500 per litre, N1,000 for one Spaghetti, and a basket of Onions cost N12,000 from N6,500 last year December.

Similarly, the cost of a live Chicken has increased by 75 per cent to N35,000 compared to what it was around this time last year.

Traders who spoke to The PUNCH stated that the dire economic situation has further impacted the cost of basic food items from what was obtainable last year.

At the Garki International Market, Abuja, a mudu of rice, which previously cost between N2,000 and N2,500, now costs as much as N3,200, while a mudu of beans increased from N3,000 to N3,500. A live chicken is also sold for between N25,000 and N35,000, depending on its size.

Speaking with our correspondent, one of the traders, Halliru Yusuf, explained that the increase in prices was both due to the high demand and the rising inflation across the country.

Another trader, Mallam Hussein, who sells tomatoes, expressed pleasure at the quick sale he had recorded so far, noting that the high demand ensured he made a lot of sales in this period.

Our correspondent observed that many last-minute customers thronged the Kubwa Village market, causing traffic that made driving into or out of the market from its three entrances difficult.

However, upon entry, prices were notably not very different from the prices at the Garki International market. Prices for a live chicken seemed to be steady at between N25,000 and N30,000, while tubers of yam sold for between N12,000 and N16,000.

Speaking with our correspondent, some customers expressed frustration at the prices of commodities in the market, noting however that they had no choice, as they had to maintain the Christmas tradition.

“Honestly, the prices of things are quite high, but there is also no choice. Because apart from the whole Christmas tradition, people have to eat. I had to price tomatoes until I got a basket for N11,000. Chicken is a no-go area basically. It’s not funny”, Rhoda Bamako stated.

“I have been wandering the market for more than an hour, trying to get the best affordable price from any stall that sells what I want to buy. It is almost like there is nothing less than N10,000 anymore. It’s both annoying and frustrating”, another customer, Chidinma Ezekiel told our correspondent.

River traders lament

Traders in popular markets in Port Harcourt, the Rivers State capital are lamenting low patronage during the festive season despite the usual surge, a survey by one of our correspondents revealed.

 At the popular Mile 3 Ultra-Modern Market and Mile 1 Market in the Mile Diobu axis of Port Harcourt traders are struggling to make sales due to the high prices of foodstuffs and other commodities.

The prices however varied depending on the foodstuff and the brand.

 At the Mile 1 market, traders shared the same concern and called for government intervention.

A trader who sells fresh tomatoes and other perishable goods said, “Since we got into the season, we are now buying fresh tomatoes at the rate of 35,000, the minimum is N30,000.

“We sell half custard N2,500- N3,000, full custard is N6,000, N5500 or N5000, the ones in the plate, minimum N800. Half a bottle of red oil is 1800, full bottle is N3200. The market is not moving as we expected, people are crying there’s no money due to the economic situation. So we are facing a lot of financial challenges here in the market.”

Kano traders react

Traders in Kano lamented the poor patronage from customers due to the economic situation in the country.

Some traders, especially foodstuff sellers at the Sabon Gari and Yankaba markets expressed concern over the lack of buyers.

Bala Musa, who deals in assorted foodstuff, said he had yet to record a significant number of buyers when one of our correspondents spoke with him.

“This is the first time I am recording poor sales during such a period. We are however grateful to Allah for the fact that one is healthy, but the situation is really bad,” Musa said.

Residents of Kaduna State are also grappling with the harsh reality of skyrocketing food prices.

A survey conducted by The PUNCH at the Television Market in Chikun LGA revealed that the prices of essential food items have hit an all-time high, leaving many residents struggling to afford basic necessities.

The prices of onions, a staple ingredient in many Nigerian dishes, have more than tripled, with a single bulb now costing between N200 and above. According to Sani Aliyu, an onion seller, “there are no more N50 onions,” and even selling at N200 feels like giving it away for free.

The situation is equally dire at the Sabon Market, where a resident, Gladys Akpo, lamented the exorbitant prices of food items. “The prices of foods are just too high,” she exclaimed, urging the government to intervene and provide relief to ordinary Nigerians.

The prices of other essential food items are equally staggering. A mudu (local measure) of garri costs between N1,400 and N1,500, while a 50kg bag of rice sells for N110,000. A kilogram of meat costs between N7,000 and N8,000, and chicken prices range from N17,000 to N25,000. Even the smallest bottles of palm oil and vegetable oil are sold for N1,800 and N3,000, respectively.

The prices of other staples, such as tomatoes and peppers, are equally prohibitive, with the smallest paint rubber selling for N3,500 and onions for N8,500. The 5kg palm oil costs N10,000.

As the Christmas and New Year celebrations approach, many residents of Kaduna State are forced to make difficult choices between feeding their families and other essential expenses. The government’s inaction in addressing the soaring food prices has left many feeling abandoned and frustrated.

Super Eagles striker Victor Osimhen on Monday joined Nigeria’s elite at billionaire Tony Elumelu glamorous all-white party in Lagos, embracing the holiday festivities during a visit to his home country.

The Galatasaray forward, who has been in prolific form, was seen mingling with top celebrities at the event hosted by Tony Elumelu, Chairman of the UBA Group, with an estimated net worth of $700 million according to Forbes.

The star-studded affair featured electrifying performances by some of Nigeria’s biggest music icons, including Wizkid, Davido, Burna Boy, and Flavour.

Prominent political figures also graced the occasion, with Lagos State Governor Jide Sanwo-Olu and Ogun State Governor Dapo Abiodun among the notable attendees.