The National Bureau of Statistics (NBS) says prices of tomatoes, garri, and other food items increased by 55 percent in June. The surveyed food items were sold at higher prices in June (last month), according to data released by the NBS. The food items include beans, garri, yam, tomato, and Irish potato. Nigeria’s data bureau said the price of tomatoes (1 kilogramme) increased significantly year-on-year by 320.67 percent from N547.28 in June 2023 to N 2,302.26 in June. “On a month-on-month basis, the average price of this item rose by 55.59% from N 1,479.69 in May 2024,” NBS said. According to the report, the average price of 1kg for brown beans (sold loose) stood at N2,292.76 in the reviewed month. “This indicates a rise of 252.13% in price on a year-on-year basis from N651.12 recorded in June 2023 and a 14.11% rise in price on a month-on-month basis from N2,009.23 in May 2024,” the bureau said. The NBS said there was also a significant price increase in Irish potatoes by 288.5 percent to N2,423.27 in June 2024 — up from N623.75 in the same month last year. On a month-on-month basis, the NBS said the price of the commodity increased by 51.92 percent from N 1,595.07 in the previous month. “Furthermore, the average price of 1kg Garri white sold loose went up by 181.66% on a year-on-year basis from N403.15 in June 2023 to N1,135.51 in June 2024, while there was an increase of 1.86% on a month-on-month basis,” the agency said. “Also, the average price of 1kg of Yam tuber increased by 295.79% on a year-on-year basis from N510.77 in June 2023 to N2,021.55 in May 2024. Advertisement “On a month-on-month basis, it increased by 52.87% from N1,322.36 in May 2024 to N2,021.55 in June 2024.” STATE PROFILE ANALYSIS According to the report, the state profile analysis in June 2024 shows that the highest average price of 1kg of brown beans was recorded in Kogi state at N3,006.43 while the lowest was in Adamawa state at N1,336.11. “The highest average price of 1kg of Tomato was recorded in Abuja at N3,992.61 while the lowest was in Kebbi State at N1,200,” NBS said. Regarding the average price of 1kg of yam tuber, Lagos state recorded the highest price at N3,376.54, while Adamawa recorded the lowest price at N1,100.00.” The bureau said Gombe had the highest average price of 1kg garri (white) sold at N1,619.27, while the lowest was reported in Taraba at N900. “Also, analysis by zone showed that the average price of Bean Brown (sold loose) was highest in the Northcentral at N 2,923.45, followed by the South-south at N2,630.03, while the Northwest recorded the lowest average price at N1,647.03,” NBS said. “The average price of 1kg of Tomato was highest in the Southwest and the South-east at N3,261.84 and N2,852.59, respectively, while the lowest was recorded in the North-West at N1,411.16. “The South-west recorded the highest average price of 1kg of Yam tuber at N2,745.80, followed by the North-Central at N2,440.35, while the lowest was recorded in the North-west at N1,238.49.” The south-west and the north-east, according to the NBS, recorded the highest average price of 1kg of garri (white) — sold at N1,199.62 and N1,155.63, respectively. On the other hand, the bureau said the lowest average price was recorded in the north-central at N1,055.87

  The Inspector-General of Police, Kayode Egbetokun, on Tuesday, warned against any violence under guise of replicating the protest which shook Kenya. Following some policies which aggrieved Kenyans considered anti-masses, young persons trooped to the parliament and strategic places across Kenya last month. The protest had led to some reforms, including cabinet reshuffle. Daily Trust reports that some groups are currently mobilising for protest under the theme #EndBadGovernance But speaking at the Force Headquarters in Abuja during a strategic meeting with top police officers from the rank of Commissioners of Police, Assistant Inspector-General of Police (AIG) and the Deputy Inspector-General of Police (DIG), on Tuesday, Egbetokun advised those planning the protest to jettison the idea, saying the police would not fold their arms watching them engaging in violence. The police boss said the force’s decision was based on what happened during the last #EndSARS protest nationwide, insisting that the police, particularly has not been relieved of the trauma they passed through. The top cop said, “Our position is that the proposed violent protests are ill-advised and should be jettisoned fortuitously. We have the responsibility to protect properties and everyone, irrespective of their race, colour, ethnicity, or tribe, who are lawfully embarking on their daily activities. “We will, therefore, not sit back and fold our arms to watch violent activities unleash violence on our peaceful communities or destroy any of our national critical infrastructure and assets again.” According to him, the police have run background checks on many of the organisers and sponsors of the protest, it was found out that many of them are not living in Nigeria, and that they are only out to instigate crisis in the country. He added, “Before concluding this address, it is important I address an issue of urgent national importance which appears to have gained some momentum, particularly on social media, in the past few weeks. “Some groups of people, self-appointed crusaders and influencers, have been strategising and mobilizing potential protesters to unleash terror in the land under the guise of replicating the recent Kenya protests. “While the force acknowledges the right to peaceful protest as enshrined in our constitution, we must ensure that these protests do not snowball into violence or disorder. “As a nation, we have had more than our fair share of violent protests, with rather dastardly consequences. The last #EndSARS protest led to one-tenth destruction of public assets, including police stations, courts, and transport infrastructure, and the loss of several lives. “Tales of sorrow, tears, and blood followed what was supposedly intended to be a well-intentioned exercise. Rather than lead to any positive outcome, EndSars merely aggravated crime rates and insecurity in several parts of the country. “Indeed, we are yet to fully recover from the huge economic losses and deep-seated psychological and emotional trauma inflicted upon our people by these protests.” Fielding questions from journalists, Egbetokun also said that measures are in place to ensure that any hoodlums attempting to disguise themselves as protesters will be apprehended. He stated, “We have mapped out plans to ensure that no individual or group succeeds in fostering a reign of terror and anarchy on other law-abiding and dissolving Nigerians. “Consequently, I want to seize this opportunity to sound the note of serious warning to hoodlums who may want to take laws into their own hands in the name of protests. Do not worry.”

  The people of Amatu 2 Community in Ekeremor Local Government Area of Bayelsa, have appealed to the State government to come to their aid, saying that for the past three years, their children have not been attending classes both at the primary and secondary school level due to the unavailability of teaching staff and corps members. While making the appeal in Ekeremor Town, Mr. Jerry Samasuode, a leader of the community, said they have written several petitions to the State Ministry of Education, State Universal Basic Education Board, and Post Primary Schools Board to draw the attention of government to their plight but no action has been taken for the past three years. He said the situation is so bad that children of the community have forgotten their academic calendar as they don’t know when schools resume or close for holiday, and that they fear that if nothing is done urgently to save the situation their children may grow up to become problem to the society in the future. Explaining further, he said “About five years ago corps members used to cover up for the unavailability of teaching staff but today they also abandoned us. Both the teaching staff and corps members that were posted to the community used to complain about distance and poor standard of living as excuses but today there is a road from Yenagoa to Ekeremor. “So, today distance should not be an excuse. Concerning the issue of poor standard of living, the community-made efforts by providing accommodation, food, and stipends to encourage them even though that is not part of our responsibility. Yet, when they post them to our community, they will lobby officials to redeploy them to urban cities. “Most of the teaching staff who work their redeployment to urban areas told us that they are doing so because the government does not pay them Rural Posting Allowances. Even at that, we made money available for them to cover up for that gap but they have refused to come to our community. Yet, they will say education is the bedrock of development.”

  The House of Representatives minority caucus has called for the release of the detained leader of the Indigenous People of Biafra, Mr Nnamdi Kanu. In a meeting held in Abuja, over 180 lawmakers elected on the platform of minority political parties made the call following the adoption of a motion moved at the special meeting of the caucus on Monday night by Mr Obi Aguocha. In a statement issued on Tuesday, the lawmaker who represents Ikwuano/Umuahia North/ Umuahia South Federal Constituency, Abia State urged his colleagues to take a definitive position on the ongoing lobby to explore possible political solution to the continued detention of the IPOB leader. The minority caucus is made up of the Peoples Democratic Party which has 115 seats, Labour Party- 35, New Nigeria Peoples Party-19 and the All Progressives Grand Alliance with five seats. Others are the Social Democratic Party-two seats, the Young Progressives Party and the African Democratic Congress with two seats apiece. Aguocha emphasised the importance of a common front within the minority caucus, noting that the resolution on Nnamdi Kanu’s case is crucial for national peace, stability, and unity. “Today, the opposition parties have taken a decisive stand on M Nnamdi Kanu, the planned protest, insecurity, the dilapidated infrastructure, and the economy,” Aguocha said. This is just as he called for immediate and strategic engagement with relevant stakeholders to advocate for a peaceful and political resolution to the matter, which he said, “has significant implications for the socio-political landscape of Nigeria.” He added that dialogue and reconciliation rather than a prolonged abuse of legal processes and confrontation, remain the best option in dealing with the matter. He expressed his belief that a political solution could pave the way for enhanced national integration and the restoration of trust among various communities. The adoption of the motion followed the lawmaker’s recent visits to the former President, Muhammadu Buhari, among other interventions. Details later…

  The Central Bank of Nigeria (CBN) has again 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. CBN Governor, Olayemi Cardoso, announced this after the apex bank’s 296th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday. The MPC adjusted the asymmetric corridor around the MPR from +100 to -300 to +500 to -100 basis points. The MPC also retained the Cash Reserve Ratio (CRR) of deposit money banks at 45% and merchant banks at 14% and retained the Liquidity Ratio at 30%. Cardoso said the committee was mindful of the effect of rising prices on households and businesses and expressed its resolve to take necessary measures to bring inflation under control. He said despite the June 2024 uptick in inflation, prices are expected to moderate in the near term as monetary policy gaining further traction in addition to further measurers by the fiscal authority to address food inflation. The MPC worried that food inflation and rising energy costs continued to undermine price stability. He announced September 23 and 24 as the next meeting of the MPC. Nigeria is battling one of its worst economic crises in recent times, with rising living and energy costs, sparked by the twin-policies of the government’s removal of petrol subsidy and unification of the foreign exchange winders in May 2023. The country’s inflation reached an all-time high in June, hitting 34.19 %, according to the latest data from the National Bureau of State Statistics (NBS). Food inflation also rose in June 2024 to 40.87% year-on-year compared to 40.66% recorded in May 2024, 15.62% higher than the 25.25% recorded in June 2023. The President Bola Tinubu administration alongside governors in the 36 states have since rolled out a number of palliative measures but Nigerians continue to lamentably hurt with the severe impact of inflation as the prices of food commodities and basic products multiply uncontrollably.

  The Nigeria Police Force (NPF) has denied claims that plots of land at the police barracks in Falomo, Lagos, were being sold to investors. In a statement on Tuesday, Muyiwa Adejobi, force spokesperson, said police authorities commenced a “redevelopment” project for dilapidated police barracks, including the one in Falomo. Recently, an X user @chiditweets042 initiated a hashtag— #NPFBarracksSeries —where pictures of dilapidated police barracks across the country were compiled. Some social media users also claimed that police officers residing in the Falomo barracks were issued vacation notice. They alleged that police authorities have sold some plots of land at the Falomo barracks. Reacting to the claim, Adejobi said some occupants of Falomo barracks have received N2 million each as “temporary relocation allowance”. The force spokesperson said the “redevelopment” of Falomo barracks is expected to be “speedily completed after which the occupants will be duly offered fresh accommodation in the redeveloped sites”. “Due to the critical state of several police barracks (including the Falomo Barracks) the NPF leadership conceived a partnership arrangement with sub-national governments and reputable developers to unlock value in the assets by redeveloping the barracks into more befitting and modern barracks – with complementary facilities and modern infrastructure,” Adejobi said. “The redevelopment of the barracks (including Falomo Barracks) is set to be speedily completed after which the occupants will be duly offered fresh accommodation in the redeveloped sites. “In specific terms, the occupants of Falomo Barracks Blocks A and B have each received a sum of Two Million Naira (N2,000,000) only as temporary relocation allowance. “This payment has been made to 347 families after a validation process to facilitate their temporary relocation. “It is important to note that this initiative is not limited to Falomo Barracks alone. Similar redevelopment projects will be implemented across all police barracks nationwide over time.” In April, Kayode Egbetokun, inspector-general of police, launched the police housing fund scheme. During the launch, Egbetokun said the police authorities are seeking a N100 billion fund to finance affordable houses for police officers across the country. In May, the Lagos government partnered with the NPF to rebuild 25 barracks in deplorable condition in the state.

  The House of Representatives has passed the amended 2024 budget at ₦35.5tn, showing an increase from the ₦28.7tn initial budget. The amendment sought by President Bola Tinubu in his letter last week was ₦6.2tn. The ₦35.5tn passed shows an increase of ₦600bn. The House has also passed the minimum wage bill and the police act amendment bill, just like the Senate. President Tinubu had last Wednesday, requested the Senate to amend the 2024 Appropriation Act, and the 2023 Finance Act by increasing the budget with ₦6.2tn. The request was contained in a letter addressed to the President of the Senate, Godswill Akpabio, and read at plenary on Wednesday. The president in the letter, said the move was under Section 58, sub-section two of the Constitution of the Federal Republic of Nigeria 1999 as amended. “I forward herewith the above bills for consideration and passage by the Senate. “The Appropriation Act Amendment Bill 2024 seeks to amend the principal Act to provide the sum of ₦3.2 trillion for Renewed Hope infrastructure projects and other critical infrastructure projects to be undertaken across the country. “And the sum of ₦3 trillion to meet further recurrent expenditure requirements, necessary for the proper operation by the Federal Government expenditure, which is to be funded by expected revenue accruing to the Federal Government of Nigeria,” the letter read. Tinubu added that the proposed amendments to the Finance Act 2023 were required to impose a one-time windfall tax on the foreign exchange gains realised by banks in their 2023 financial statements. He explained that this was to fund capital infrastructure development, education, healthcare access, and public welfare initiatives. According to the President, all of the projects are essential components of the renewed hope agenda of the administration. Tinubu had on January 1, 2024, assented to the ₦28.7tn 2024 Appropriation Bill passed by the Senate. On May 29, 2024, the president said he would present the 2024 Supplementary Budget to the National Assembly (NASS).

  The Senate on Tuesday speedily passed the National Minimum Wage Act 2019 (Amendment Bill). The bill, which scaled first, second and third readings, just minutes after it was transmitted by President Bola Tinubu, was instantly passed by the upper chamber. In a unanimous vote after a clause consideration in the Committee of the Whole, the National Minimum Wage Bill scaled third reading and was passed. Earlier on Tuesday, the President transmitted the National Minimum Wage Bill to the National Assembly for consideration and passage. The President separately wrote the Senate and the House of Representatives requesting expedited consideration of a bill for an Act to amend the National Minimum Wage Act, 2019 to increase the National Minimum Wage from ₦30,000 to ₦70,000. The President also asked the lawmakers to reduce the time for periodic review of the national minimum wage from five years to three years and related matters. Last Thursday, Tinubu and the leadership of the Organised Labour agreed on ₦70,000 as the new minimum wage for Nigerian workers The truce between the government and labour sides followed a series of talks between labour leaders and the President in the last few weeks after months of failed talks between labour organs and a tripartite committee on minimum wage constituted by the President in January. The committee, which comprised state and federal governments and the Organised Private Sector, had proposed ₦62,000 while labour insisted on ₦250,000 as the new minimum wage for workers who currently earn ₦30,000 as minimum wage. Labour had said ₦30,000 was unsustainable for any worker going by the economic vagaries of inflation and high cost of living which followed the removal of petrol subsidy by the President. Despite its initial insistence on ₦250,000 as the new minimum wage, Labour accepted the President’s offer of ₦70,000 last Thursday. The President of the Nigeria Labour Congress (NLC), Joe Ajaero, said Labour accepted ₦70,000 and rejected a proposal by President Bola Tinubu to pay ₦250,000 minimum wage on a condition to increase petrol prices. He also said Labour agreed to the ₦70,000 offer because minimum wage won’t be reviewed once in five years anymore but once every three years. The transmission of the wage bill came about six weeks after the President said in his Democracy Day speech on June 12, 2024, that an executive bill on the new national minimum wage for workers would be sent to the National Assembly for passage. Source: Channels TV