The local currency's decline worsened yesterday, with the naira falling to N1,639.41 per dollar at the official exchange rate.

The figure yesterday indicated a whooping loss of N34 after the dollar exchanged for N1,606 the previous day, according to the Nigerian Autonomous Foreign Exchange Market (NAFEM) rate.

Also the black market rate also dipped yesterday as the naira lost N5 against the dollar, exchanging at N1,645/$1, as against N1,640 the previous day.

The Yoruba Council of Elders, YCE, has appealed to President Bola Tinubu to alleviate the suffering of the masses.

They also urged him not further worsen the pains with the hike in petrol price across the nation.

The YCE, in a statement by its General Secretary, Oladipo Oyewole, said though it was hopeful that there will be a positive turnaround in the country, “there is, presently, a lot of suffering in the land.”

The statement reads;

“The YCE remains hopeful that Nigeria will have a turnaround. However, going by scanty information available on Government pursuits and activities, there is, presently, a lot of suffering in the land. Be that as it may, we of YCE stand on our strong position that the interest of the masses to live a good life should be given full attention.

Without regular supply of electricity and with the official announcement of an increase in the price of Petroleum Products (PMS), the current hardship cannot but be increased in daily living by Nigerians. The Federal Government ought to immediately pursue every avenue to make available to our people, the dividends of democracy. Not through the distribution of palliatives (that does not seem to filter to the bottom) but by putting in place avenues to enhance proper/quality living through effective governance administration.

Every Nigerian should be entitled to enjoy our common resources. Indeed, Nigerians are suffering deeply at this time, no light, no fuel, no food. Mr President should, without delay, revisit his drawing board to attend to the short-term needs of Nigerians (the immediate needs of the people) whilst pursuing the long-term vision of making Nigeria a better place for growth and development

As Elders, YCE wants immediate succour for the people to boost the welfare of Nigerians so that all can live in comfort and harmony

As far as this Elders Council is concerned a lot of administrative work by government is (absolutely) required for the masses of this country to live, stay alive as respectable and responsible people. The state of this nation today is a pill that has a bitter taste.

The administration of President Bola Tinubu should do something quickly to ensure proper steering of its intentions to establish and install better governance in Nigeria.

Infact, the Presidency should doall possible to alleviate the suffering of all Nigerians immediately and without delay.”

Edwin Clark, leader of the Pan Niger Delta Forum (PANDEF), says Kayode Egbetokun, inspector-general of police (IGP), should arrest Nyesom Wike, minister of the federal capital territory (FCT), over a comment credited to him.

While speaking at a congress of the Peoples Democratic Party (PDP) in Rivers state in August, Wike said he would “put fire” in the states of governors siding with Siminalayi Fubara, the governor.

Wike and Siminalayi have been at loggerheads over issues concerning Rivers.

The rift between both politicians has created two factions in the Rivers house of assembly — with each camp electing a speaker loyal to the minister and the governor.

In an open letter addressed to Egbetokun entitled ‘Arrest Wike Now With a Warrant of Arrest’, the elder statesman said Wike “has gone overboard in his macabre dance”.

“As we lawyers say, nobody is above the law and the law must take its course,” he said.

“If you could in the past arrest Omoyele Sowore for similar or less implicating threats against public peace and public officials, if you are right now leading prosecution in law courts against people who participated in ‘End Bad Governance’ protest, what are you waiting to act in this case of Wike?

“My dear IG, at well over 97 years of age, and having held various positions in government including being a Minister over 50 years ago, I am shocked that a public officer who is an appointee of a serving President can descend to this level.

“When we worked under Gen. Yakubu Gowon, GCFR, in the Federal Executive Council, the code of conduct which we were expected to keep especially as it pertained to being instruments of public order was at the highest level.

“There is nothing that Wike has not done in his attempt to sabotage the government of Siminalayi Fubara and install the former speaker of the Rivers State House of Assembly, Martins Amaewhule, his brother, as Governor.

“But all have failed.”

Clark said Wike should not be allowed to change the rules of the party arbitrarily because of his feud with Fubara who is the leader of the PDP in Rivers.

The Federal Government has approved a 50 per cent increase in the feeding allowance for inmates in Nigeria, effective from August 2024. This measure aims to address rising food costs and improve inmate welfare.

The spokesperson for the Nigeria Correctional Service, Abubakar Umar, confirmed the increase during an interview with PUNCH Online on Thursday.

He described it as the “first phase” of a broader review intended to enhance living conditions for inmates.

“The inmate feeding allowance has been increased by 50 per cent, effective from August 2024. This is just the first phase,” Umar said.

He added that further reviews would follow, particularly due to the soaring cost of food.

“The FG will also consider additional reviews. This is just the first phase. Normally, there is a period when inmate feeding allowances are reviewed. Following a presentation during the budget process, the FG deemed it necessary to adjust the allowance due to the rising cost of food. Further adjustments are expected,” Umar explained.

According to the latest figures from the NCoS, Nigeria currently has 84,575 inmates.

For the 2024 budget year, the NCoS has been allocated over N24.4 billion for catering materials and foodstuffs.

The need for an increase in the feeding allowance has been a public concern, especially after it was revealed in December 2023 by the Controller General of the NCoS, Haliru Nababa, that N750 was allocated per day for each prisoner, while N800 was spent daily on feeding each of the 900 dogs in the service.

Inmate welfare issues gained further attention recently after a viral video from the Afokang Custodial Centre in Calabar, Cross River State, showed inmates being served poorly cooked meals.

This sparked public outrage and led to an investigation ordered by the Minister of Interior, Olubunmi Tunji-Ojo, into the conditions at the facility.

The NCoS confirmed that the investigation is ongoing, emphasising that the incident does not reflect the overall standards of care and commitment to inmate welfare across the country.

Russian President Vladimir Putin on Thursday declared his support for the candidate of the Democratic Party, Kamala Harris in the upcoming US presidential election.

The backing has been seen as an apparent sarcastic remark a day after Washington accused Moscow of seeking to influence the vote.

Putin comments on political and social issues in the United States often with sarcasm.

He said last year that the US political system was “rotten” and that Washington could not lecture other countries about democracy.

“Firstly, (US President Joe) Biden recommended all his supporters support Mrs Harris,” Putin said during a question-and-answer session at Russia’s Eastern Economic Forum in Vladivostok.

“Here, we are going to do that too, we’re going to support her,” he added, with a wry smile.

“She laughs so contagiously that it shows that everything is fine with her,” the Russian leader said.

“(Former US President Donald) Trump has imposed as many sanctions on Russia as any president has ever imposed before, and if Harris is doing well, perhaps she will refrain from such actions.”

In February, Putin backed Biden over Trump, calling the current president more “predictable”.

The White House called on Putin to “stay out” of US elections.

Putin’s comments came a day after the United States indicted two employees of the state-run Russian news network RT and slapped sanctions on its top editors.

Washington accused them of trying to influence the upcoming US ballot.

Gunmen have reportedly kidnapped a chieftain of the Peoples Democratic Party and one of Governor Seyi Makinde’s key supporters, Hon Benedict Akika, popularly known as “Bene” in his home on Wednesday night.

The gunmen wearing masks reportedly stormed the Idi Ape, Olorunda-Aba residence of Mr Akika in Lagelu local Government Area of the state and abducted him.

Unconfirmed report also indicated that a life was possibly lost during abduction on Wednesday night.

The Oyo State Police Command is yet to issue an official statement on the matter but in a message via the phone, the command’s spokesman, Adewale Osifeso, indicated that investigation has commenced into the matter and details would be provided accordingly.

The Oyo state government have also not issued any statement concerning the unfortunate incident.

A chieftain of the All Progressives Congress (APC), Ibrahim Modibbo, has said Advisers and Ministers of President Bola Tinubu are incompetent and deserve to be sacked.

The Taraba State APC chieftain, Ibrahim Modibbo, said ministers of President Tinubu are newspaper tigers.

He accused them of relying solely on textbook economics as solution to Nigeria’s hunger and hardship problems than the people.

Modibbo, in an interview with Arise TV on Wednesday, stated that Tinubu advisers are giving him wrong advice that is responsible for the economic hardship.

He appealed to Nigerians to give the President time, stating there would be light at the end of the tunnel.

“I’m a Nigerian and I also feel the pains just like Mr. President also feel the pains and the pulse of Nigerians.

“I don’t want to defend some of these conditions. I’m not here as a government spokesperson. Therefore as a caveat, I’m not going to defend that because to me it will show sensitivity and compassion. That is why I said people around Mr. President are giving him wrong advice.

“If I were a president today I would have sacked almost virtually all the ministers and what have you, to get new people, new advisors because some of this economic team, they are just mere newspaper tigers as far as I’m concerned.

“They can only limit themselves towards the textbooks econometrics without looking at the proper inventory of Nigeria’s economic system, looking at the poor masses as a ladder,” Modibbo said.

He added that President Tinubu made wrong decision in getting a new presidential jet without selling the old one in the fleet.

He, however, assured Nigerians that the President would find a solution to the current economic hardship caused by his administration’s policies.

“With all these problems, must we buy a new jet? If you ask me, I’ll say yes, and I’ll say no. Yes, because recently we’ve seen how some of the former presidents, Iran President had air crash.

“Therefore I would have sold some of the fleets and get a new one. No, in the sense that for us to be very sensitive to the yearnings and aspirations of Nigeria and 2027 is just by the corner, elections coming up, the way Nigerians today in terms of aggregation of opinion, in terms of sensitivity with the current economic temple, Nigerians are not finding it funny.

“But Tinubu has history by his side, he has two more or three more years to change the whole economy to the dynamics of governance.

“Therefore looking at every parameter of democratic practice, we know that there is no democracy that will be able to give you a hundred percent satisfaction.

“And this is where we are as painful as Mr. President’s decision to take some of these policies which he knows to his heart that is painful. I am sure he’s looking for a way out to see to the possibilities of maybe finding solutions,” Modibbo added.

The National Economic Council (NEC) on Wednesday, imposed a deadline of September 9 for four states to submit their reports on the establishment of state police.

The NEC will review comprehensive reports from all 36 states and the Federal Capital Territory (FCT) on that date. States that do not meet this deadline will be subject to the NEC’s decisions regarding the state police.

Additionally, the Federal Government has allocated ₦3 billion in aid to states affected by severe flooding.

At the conclusion of the NEC meeting, chaired by Vice President Kashim Shettima at the Presidential Villa in Abuja, Acting Oyo State Governor Abdulraheem Lawal reported that all states were expected to submit their reports for NEC’s review.

The discussion on state police was driven by ongoing security challenges across regions, including the Northeast, Northcentral, Southwest, Southeast, and Southsouth.

Lawal emphasized that the initiative aims to enhance national security. He noted that last year, the NEC had asked states to provide reports on the establishment of state police. States that fail to meet the September 9 deadline will be bound by the NEC’s decisions.

He said, “An update on the establishment of State police was considered and this was as a result of the security challenges that we have across the nation, in Northeast, Northcentral, southwest, Southeast and South south so that we would have a robust security in our nation.

“For that purpose, sometimes last year NEC considered the establishment of state police and asked states to make submissions of considerations

“Today (Wednesday), all the states were supposed to submit for consideration of NEC. Incidentally, four states couldn’t submit, and for that purpose, NEC decided that those states must make their submissions on or before Monday next week, otherwise, whatever decision next date on the establishment of State Police will be binding on those states that reused to submit them to make submissions.

“So that is the resolution as of today’s NEC meeting.”

Although the specific names of the four states that have yet to submit their reports were not disclosed, sources identified them as Adamawa, Kwara, Sokoto, Kebbi, and the FCT.

According to Vanguard, the source said one of the four states claimed it had already submitted its report.

Also briefing, Bauchi State Governor Bala Mohammed provided insights into the flood situation, highlighting the federal government’s ₦3 billion relief fund.

Mohammed described the severe impact of the flooding, especially in the Northeast, where critical infrastructure, such as roads and bridges, has been damaged, affecting households, schools, and other essential services.

He said, “The flood was more devastating along the Northeast axis where a major artery between Kano and Maiduguri has been cut off with devastating effects on households, schools, bridges and other means of livelihood. Lives were lost and a lot of properties were also destroyed.

“Of course, that has really provided a big challenge to us as a government and as a people in our states because we need to provide more of food security. Already, farmlands are submerged and therefore there’s need for collaboration between all the tiers of government to ensure food security.”

Mohammed noted that this year’s harvest is expected to be significantly affected due to the floods. He called for coordinated efforts between the Federal Ministry of Agriculture and state ministries to ensure a comprehensive response to the crisis.

An inventory of the damage, including impacts on agriculture and infrastructure, is required by Monday to facilitate timely support.

Nasarawa State Governor Abdullahi Sule supported this perspective, noting that a new governance structure has been established to manage flood relief efforts.

The reconstituted Flood Committee now includes governors from Kogi, Bayelsa, Oyo, Ebonyi, Bauchi, and Jigawa states, as well as key federal ministers and agency directors. The Committee will oversee the assessment of flood damage and ensure effective relief measures.

He said: “The Flood committee has to be reconstituted and the new members of the councils are governors of Kogi, Bayelsa, Oyo, Ebonyi, Bauchi and Jigawa states.

“Others are Minister of Water of Resources, minister of state Water of Resources, Minister of State for Environment, DG Nigeria Sovereignty Investment Authority (NSIA), DG NIMET, DG NWRI, MD/CEO NIWA, MD if NNDC, MD NEDC, and DG NEMA.

“The council has decided that Monday will be the deadline for all the states of the Federation to submit details damages including farms, schools, barges that have been affected by the last flood and Mr. chairman mentioned it will be taking into consideration for appropriate support to the various states.

“So these are the new very strong membership of the flood committee that will continue to address council henceforth.”

The NEC has mandated that all states submit detailed damage reports by Monday, including impacts on farms, schools, and infrastructure, to enable appropriate support for the affected regions.

The co-chair of the Bill and Melinda Gates Foundation, Bill Gates, has said that Nigeria’s Value Added Tax is among the lowest worldwide.

Bill Gates disclosed this on Tuesday during the Nutrivision 2024, dialogue held in Abuja.

The billionaire said this while responding to a question on potential financing mechanisms for large-scale public health interventions.

According to him, there are plans for the government to fund more health-related programs.

“Over time, there are plans for Nigeria to fund the government more than it does today. The actual tax collection in Nigeria is pretty low.

This comes as Bill Gates participated in Nigeria’s National Economic Council on Wednesday.

Recall Meanwhile, Taiwo Oyedele, the Chairman Presidential Committee on Fiscal Policy and Tax Reforms announced that plans are on the way to propose a law that would increase VAT from 7.5 percent to 10 percent.

A former spokesman of the Labour Party (LP) presidential campaign council, Kenneth Okonkwo, has charged President Bola Tinubu, ex-presidential candidate of the Peoples Democratic Party (PDP) Atiku Abubakar, and Peter Obi to step aside ahead of the 2027 elections.

Okonkwo said Tinubu, Obi, and Atiku are not fit to contest in the 2027 election, stressing that they have failed Nigerians.

Speaking on Arise TV, the Nollywood actor also criticized the opposition for their failure to form a consolidation and work together against the ruling All Progressives Congress (APC).

According to Okonkwo: “I completely agree with you that we need new faces, 100%, and that was why I have said that Atiku, Peter Obi, and Tinubu should step aside.

“The reason is that the ruling party has failed, and the opposition has failed. Are you aware that in the House of Representatives, you have more opposition members than the ruling class?

“I’m saying you don’t just finish an election, and the first thing you start talking about is the next election. You consolidate and form alliances amongst yourselves to work together as the opposition.

“If all the opposition members in the House of Representatives had come together, they would have produced the speaker and the vice.”