ALERT: Petrol May Rise To N340 Per Litre In 2022 – NNPC

Malam Mele Kyari, Group Managing Director of the Nigerian National Petroleum Company (NNPC), has hinted that a litre of fuel may sell between N320...

Malam Mele Kyari, Group Managing Director of the Nigerian National Petroleum Company (NNPC), has hinted that a litre of fuel may sell between N320 and N340 in 2022.

He said this during the presentation of the World Bank Nigeria Development Update, November 2021 edition titled “Time for Business Unusual” in Abuja on Tuesday.

Kyari said fuel subsidy removal would definitely be achieved in 2022.

He said that the law provides that by the end of February 2022, the nation should be out of the subsidy regime.

“There will be no provision for it legally in our system, but I am also sure you will appreciate that government has a bigger social responsibility to cater for the ordinary and therefore engage in a process that will ensure that we exit in the most subtle and easy manner,” he said.

He said this during the presentation of the World Bank Nigeria Development Update, November 2021 edition titled “Time for Business Unusual” in Abuja on Tuesday.

‘Triumph of fake news’, Lai Mohammed rubbishes report on EndSARS

PDP govs: Nigeria can’t survive another 4 years under APC

He said that the law provides that by the end of February 2022, the nation should be out of the subsidy regime.

“There will be no provision for it legally in our system, but I am also sure you will appreciate that government has a bigger social responsibility to cater for the ordinary and therefore engage in a process that will ensure that we exit in the most subtle and easy manner,” he said.

On the hike in prices of cooking gas, he said that it was a demand and supply issue as there was a global crunch on supply of gas and many countries were now threatened by lack of supply in December.

He added that the product was not under any subsidy regime and therefore irrespective of where it was produced, would follow the global trend.

Kyari, however, assured that the company was working on increasing local production to meet the needs of consumers.

Minister of Finance, Budget and National Planning, Zainab Ahmed, had at the event said Nigeria will remove fuel subsidy by 2022 and substitute the subsidy with N5000-a-month transportation grant to the poorest Nigerians.

The minister said the grant will be distributed to about 30 to 40 million Nigerians who make up the poorest population of the country.

She said: “The subsidies regime in the oil sector remains unsustainable and economically disingenuous.

“Ahead of the target date of mid-2022 for the complete elimination of fuel subsidies, we are working with our partners on measures to cushion potential negative impact of the removal of the subsidies on the most vulnerable at the bottom 40% of the population.

“One of such measures would be to institute a monthly transport subsidy in the form of cash transfer of N5,000 to between 30 – 40 million deserving Nigerians.”

Victims abandon their vehicles after they were allegedly attacked by suspected kidnappers along Kaduna-Abuja expressway

A video showing the abandoned cars of some travellers who were allegedly attacked by suspected kidnappers along the Abuja-Kaduna road on Sunday, November 21, has been shared online.

PR Nigeria had earlier reported that armed bandits blocked the Abuja-Kaduna Road on Sunday, November 21 and kidnapped travellers. According to one of the travellers who escaped the abduction, he said the armed bandits blocked the road at Katari village at about 2 pm and operated for more than an hour.

Another traveller who confirmed the incident, said “We had to turn back when we heard the shooting of guns and parked some kilometres away from the scene. After two hours when we saw other vehicles coming from the other side, we continued our journey. Many travellers must have been kidnapped or escaped into the bush as we saw at least fifteen cars parked and empty when we passed the scene of the attack.”

The state police command is yet to comment on this development.

Government Loyalists Machete #EndSARS Witness Who Testified Against Nigerian Army At Lagos Judicial Panel

It was gathered thatthe hoodlums, numbering three descended on Kamsi on Sunday at Crown Estate bus stop, Sangotedo, near Shoprite, Lekki

A witness of the #EndSARS protest, Kamsi Ochuko has been attacked by hoodlums suspected to be sponsored by the government for testifying against the Nigerian Army at the Lagos State Judicial Panel of Inquiry on Restitution for Victims of SARS Related Abuses and other matters.

“I was attacked by 3 men, who first pointed a torchlight at my face, before pouncing on me with dangerous object; they said my crime was because of my testification at the panel,” she said.

Kamsi was one of the EndSARS witnesses that reacted to the interrogation of the military witness, Major Gen. Ahmed Taiwo, Commander of the 81 Division, Military Intelligence Brigade, Victoria Island.

Despite video evidence that so many protesters were killed at the Lekki tollgate on October 20, 2020, Taiwo, then a Brigadier-General told the panel no one was killed.

He also gave at least seven inconsistent accounts of what truly transpired at the Lekki tollgate that fateful night.

One of his narratives was that soldiers deployed to the scene led by Col. S.O. Bello, Commanding Officer of 65 Battalion, and Brig.-Gen. F.O. Omata actually went there with live ammunition – a claim totally in contrast with his earlier position on the issue. 

He, however, said the live ammunition was for backup purposes and not used by soldiers deployed to the scene.

Before then, the Nigerian Army headquarters had lied on the day of the incident that soldiers were never at Lekki toll gate to attack protesters as claimed in the media, branding the story as fake news – a position they had since backtracked from.

Taiwo is a son of a former military governor of Kwara State, Colonel Ibrahim Taiwo, infamous for his alleged involvement in the massacre of over 700 persons in Asaba, Delta State, during the Civil War.

The attack is coming a few days after the Justice Doris Okuwobi-led panel submitted its report to the Lagos State Government.

Titled, ‘Report of Lekki Incident Investigation Of 20th October 2020’, the panel said at least 48 protesters were either shot dead, injured with bullet wounds or assaulted by soldiers.

According to the report, nine protesters were confirmed dead, while four were presumed dead.

The panel listed 48 names as casualties of the incident.

MULTIPLE CASUALTIES RECORDED AS SOLDIERS REPEL ISWAP TERRORIST ATTACKS ON TROOPS AT MARTE

Troops of the Nigerian Armed Forced have repelled multiple attacks on Marte Community in Bornu State, by the Islamic State of West Africa (ISWAP) terrorists. 

The terrorist attacks on ground troops was reportedly repelled by Nigerian Soldiers in conjunction with the Air Compinent of Operation Hadin Kai (OPHK). The attacks were carried out in two phases, between 8 and 9pm on Sunday. 

Four Soldiers and one Civilian Joint Task Force(CJTF) Operative were wounded in the attacks. They were subsequently airlifted to Maiduguri by the Air Component of OPHK for medical attention.There were also an unspecified number of casualties on the side of the terrorists.

Vehicles belonging to the terrorists were destroyed by AirTroops, especially in the first confrontation. 

In a separate but related development, ISWAP terrorists have released a video showing four hostages allegedly held in their den since October. The hostages spoke in the clip, identifying themselves. 

They include a staff of the Federal Road Safety Commission, one UNICEF staff, one staff of the Nigeria Defence Academy and a retired banker.

The hostages were allegedly captured between Wajiroko and Damboa, Buratai and Buni Yadi as well as Maiduguri/Damaturu highways.

Government Forces say the attacks on troops location in Marte does not come as a suprise as the terrorists have vowed to attack the location and other adjoining Military locations during their last meeting in Sabon Toumbun/Koloram on the 16th of Novenner, 2021. 

Government Forces say they expect a reprisal attack in a couple of days, judging by the terrorists mode of operation. Government Forces commended the foresight and gallantry of its Soldiers, while promising to double efforts to rid the terrorists off the territory in due time.

BREAKING: Osinbajo opens campaign office in Abuja ahead 2023 election

Vice President Yemi Osinbajo has opened a campaign office in the Federal Capital Territory (FCT) Abuja, as part of preparations to contest the presidential ticket of the All Progressives Congress (APC) ahead of the 2023 general elections.Blueprint gathered exclusively that the campaign team under the aiges of Progressives Consolidated Group (PCG) has also been inaugurated on Saturday.

The said campaign office is located at No. 15b, Buchanan Crescent, off Aminu Kano, by Emab plaza Wuse 11, Abuja.

Blueprint learnt reliably that the campaign office is already decorated with the Vice President’s banner with inscription “Face of Hope.”

Sources at the campaign team told our correspondent that the Chairman of the PCG is President Muhammadu Buhari’s kinsman from Kastina state known as Dr. Aliyu Kurfi.

Other members of the team include; Musa Liman as deputy chairman North, Dr Ebenezer Faji as deputy chairman South, Dr. Eli Eberechukwu Dibia as Vice Chairman, Dr. Ahmed Muhammed as the National Coordinator, Dr. Usman Ibrahim as Organising Secretary and Barrister Emmanuel Pippa as the Publicity Secretary, among other positions.

(Blueprint Newspaper)

Hilton Hotel: What Oduduwa Varsity alumni say about owner Adedoyin, ritual killing

As Ramon Adedoyin, the owner of the Oduduwa University Ipetu Modu, waddles in the allegation of ritual murder of a postgraduate student of the OAU who lodged in Hilton Hotel, one of Adedoyin’s conglomerate, on Nov.5 former students of the school have spoken out.

In a statement by its President, Quadri Olatunji, the former students described as “unethical, distasteful, unreasonable, illogical and selfish”, the manner in which “some prominent news media” cast the story.

“Our higher citadel of learning which has produced highly placed youths in the society in just 12 years of her existence has no affiliation whatsoever in the unfolding story and as such it became a surprise as to why peddlers of substandard news would drag the name of the university into the mix,” he said.

Olatunji maintained that there is no justification for anybody to tarnish the image of Oduduwa University, even though Chief Ramon Adegoke Adedoyin is the owner of both the school and the hotel.

“There is no justification in the actions of those who normally should know the intended and unintended consequences such mudslinging act would have on old, current and new students of OUI, yet attempted tarnishing the image of the school for monetary gains. This act should stop at this stage. Hilton hotels is not Oduduwa University!” he stressed.

While commiserating with the family of the deceased, Olatunji urged the police to be thorough getting to the root of the death of the OAU post graduate student.

The National Daily reported the master’s degree student, Timothy Adegoke, lodged in the hotel on the said day, and his body was later exhumed from the hotel premises after investigations nailed the reception first.

Rahmon Adedoyin ‘Enjoys VIP Treatment In Detention, Sleeps In Special Quarters’

Rahmon Adedoyin, the ‘educationist’ and business mogul who was arrested over the strange death of Timothy Adegoke in his hotel, may be enjoying VIP privileges at the headquarters of the Osun State Police Command.

A source close to the deceased’s family told FIJ that Adedoyin does not spend his night in a cell as the police made the public believe.

“We have it on good authority that Rahmon Adedoyin does not spend the night in police detention where he is supposed to be till the police conclude their investigation,” the source said.

“He does not sleep in the cell. He spends the night at a special quarters inside the command and then returns to detention in the morning.”

FIJ placed several calls to Yemisi Opalola, the spokesperson of Osun police, but they were not answered. A text message sent to her was also not responded to.

On Wednesday, FIJ reported that Adedoyin was arrested and detained by men of the Osun State Police Command in connection with Timothy’s death.

Subsequently, relatives of the deceased accused Adedoyin of sending one of his lawyers to them for peaceful resolution of the case.

BREAKING: Yoruba actor Baba Suwe dies

                        Late Baba Suwe

Veteran Yoruba actor Babatunde Omidina aka Baba Suwe is dead.

The actor died on Monday at 67.

Baba Suwe’s death was announced by one of his daughters, Adesola Omidinay

She said: “This is to announce the sudden death of my father, Babatunde Omidina, the legend and rare gem, Baba Suwe on November 22, 2021. Details and other arrangements will be announced shortly.”

Baba Suwe became popular for his comical roles in Nollywood films with Yoruba language.

He suffered poor health in 2018, making several Nigerians including Vice President Yemi Osinbajo to donate funds for his medical treatment abroad

Ole Gunnar Solskjaer sacked by Manchester United after Watford defeat

Ole Gunnar Solskjaer leaves Manchester United after nearly three years as manager; the Norwegian led United to third and second-place finishes in the Premier League during his two full seasons in charge but failed to win a trophy

Ole Gunnar Solskjaer has been sacked as Manchester United manager after an "embarrassing" 4-1 defeat at Watford.

Solskjaer signed a new three-year deal in July but leaves after overseeing five defeats in their last seven Premier League matches - a run which sees them 12 points behind leaders Chelsea.

The Old Trafford hierarchy had ignored increasingly vociferous calls to relieve Solskjaer of his duties in the wake of a humiliating 5-0 loss to rivals Liverpool and a 2-0 derby defeat to Manchester City in early November.

But his position was discussed by United officials on Saturday evening following the crushing defeat at Vicarage Road, before the announcement of his dismissal followed on Sunday morning.

Solskjaer was booed by a number of the United fans in the away end at full time, although midfielder Bruno Fernandes appeared to try to redirect their frustration towards the players.

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FREE TO WATCH: Highlights from Watford's win over Manchester United in the Premier League

Goalkeeper David de Gea labelled the defeat "embarrassing" but added: "It's easy to blame the manager or the staff but sometimes it's the players."

Asked what this result meant for his future, Solskjaer toldSky Sports: "I am working for and with the club. Of course we have good communication and if the club are thinking of doing something that is a conversation between us."

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Solskjaer revealed he was 'very low' after the defeat to Watford

Ole's journey 'at the wheel' ends without a trophy

Former United striker Solskjaer returned to the club initially as caretaker manager after the dismissal of Jose Mourinho in December 2018 and immediately produced an upturn in United's form - including the 3-1 win at Paris Saint-Germain in the Champions League.

'Ole's at the wheel' became a trending topic as Solskjaer was appointed on a permanent basis in March 2019.

He was unable to lead United into the top four of the Premier League that season but did achieve third and second-place finishes in his two full seasons in charge.

However, Solskjaer failed to deliver silverware during his tenure, with the defeat on penalties to Villarreal in last season's Europa League final being their best effort.

How did Solskjaer compare?

Saturday's defeat to Watford was Solskjaer's 168th game in charge of the club. In total, he won 91 of them, drawing 37 and losing 40.

Of Manchester United's four permanent managers since Sir Alex Ferguson's departure from the club, including David Moyes, Louis van Gaal and Jose Mourinho as well as Solskjaer, the Norwegian's overall win rate of 54 per cent puts him second.

Mourinho's win rate is the highest of the four at 58 per cent, while Moyes and Van Gaal trail on 53 per cent and 52 per cent respectively.

Manchester United's recent derby defeat to City, when they were comprehensively outplayed by Pep Guardiola's side only a couple of weeks after a 5-0 humbling by Liverpool, underlined the gulf between Solskjaer's side and the teams competing for the title.

Overall, Solskjaer's record against the traditional big-six - Manchester City, Liverpool, Chelsea, Arsenal and Tottenham - is mixed, with 14 wins, 10 draws and 12 losses.

His win rate of 39 per cent in those games is higher than Mourinho's and considerably higher than Moyes' but it is lower than Van Gaal's. The Dutchman won 10 of his 23 meetings against the big-six - giving him a success rate of 43 per cent.

Solskjaer's win percentages put him on a similar level to his predecessors but therein lay the problem for him.

He was originally appointed on an interim basis in order to provide short-term improvement, which he did in the second half of the 2018/19 campaign, but the remit changed when he took the job permanently.

From there, the challenge was to turn Manchester United back into Premier League title challengers but the defeats to Manchester City and Liverpool showed they remain a long way off their rivals.

Indeed, a big-six mini-league of head-to-head meetings since Solskjaer's appointment puts Manchester United 18 points behind City and 23 behind Liverpool.

That, of course, is despite heavy investment in the squad. This summer, Manchester United brought in Cristiano Ronaldo, Jadon Sancho and Raphael Varane at considerable expense.

The idea was to turn the side into title challengers but instead they find themselves 12 points off the summit. Performances have largely been even worse than their standing suggests.

Their latest round of spending pushed their net spend under Solskjaer to £312m - £33m more than any other Premier League side and £196m more than City and Liverpool'scombined.

Manchester United have long been lavish spenders in the transfer market but they have now invested more under Solskjaer (£441m) than they did under Mourinho (£430.8m) or Van Gaal (£309.2m).

Expectations have risen accordingly and Solskjaer was unable to meet them. He kept the side at roughly the same level of his predecessors but more was required. Manchester United will now pin their hopes on a new manager to restore their former glories.

November 23: Villarreal (a) - Champions League, kick-off 5.45pm

November 28: Chelsea (a) - Premier League, kick-off 4.30pm, live onSky Sports

December 2: Arsenal (h) - Premier League, kick-off 8.15pm

December 5: Crystal Palace (h) - Premier League, kick-off 2pm

December 8: Young Boys (h) - Champions League, kick-off 8pm

God Punish Poverty, No wonder he sent alarm to Davido instead of N1M’ Reactions As Femi Otedola Flies Alone In Massive Private Jet – Check out the interior of the private jet (video)

Nigerian billionaire businessman and philanthropist, Femi Otedola has stirred reactions after he showed off the interiors of a jet that flew him to Nigeria recently.

Femi Otedola

The father of three flew solo in the massive private jet to Nigeria, and one must admit that the view from the jet is breathtaking.

The interiors from the jet which oozed luxury, had a bedroom, a dining area, a living room, and a business cabin for business passengers who might want to travel in the jet.

In the video serving rounds online the billionaire was seen relaxing in the tastefully furnished living room of the jet.

Watch video below,

See how netizens reacted;

mcigotuk wrote; I shall never be poor, I can never be poor, I will never be poor 🙏

itz._princeroy wrote; Some rich Nigerians show to the world that Nigeria is rich mean while majority of Nigerians are dieing in poverty.😢😢

iamfelixadeoye_ wrote; Whose your daddy!!!

zeezolamilekan wrote; God punish poverty

vjoofficial wrote; Omo this one no be vanity, no come tell me rubbish this morning 😂😂😂

ajulofoods wrote: I will invite all my generations sef😂😂😂😂 wait oo na only this man won dey inside this place😮😮 wow

teens9490 wrote; “I’ll be the first billionaire in my family”

You just said it so claim it📌❤️🙏🏻

uzoogah wrote; Maybe his family have done this with him loads of times but they don’t bother sharing on social media. Too rich to be bothered family goals . 🙌 ❤️

akatel2 wrote; Everyone needs that calmness once in a while

smallgrany wrote; There’s level to this private flying abeg 😍😂🙌🙌

Lekki tollgate: Over 76,400 sign petition to jail Buhari after Lagos EndSARS panel report

The President, Major General Muhammadu Buhari (retd.)

A petition by Reno Omokri, a former Special Assistant to President Goodluck Jonathan, on the change.org platform has received 76,420 signatures as of 12.39 pm on Friday.

The petition, which was filed on Wednesday, was directed at the International Criminal Court and comes after the Lagos #EndSARS panel indicted the Buhari administration in its report.

At over 75,471 signatures, the petition is the first of Nigerian origin to hit that number in two days.

The petition is titled, ‘A Petition to The International Criminal Court to Arraign Muhammadu Buhari for Crimes Against Humanity’.

The petition sought to have Buhari tried and imprisoned by the International Criminal Court for crimes against humanity believed to have happened at Lekki tollgate on October 20, 2020.

This is after the Lagos State Judicial Panel of Inquiry on Restitution for Victims of SARS Related Abuses and other matters says at least nine persons were confirmed dead at the Lekki toll plaza on the night soldiers stormed there to disperse #EndSARS protesters on October 20, 2020.

The Justice Doris Okuwobi-led panel made this known in its report submitted to the Lagos State Government on Monday.

In the report, titled, ‘Report Of Lekki Incident Investigation Of 20th October 2020’, a copy of which was sighted by our correspondent, the panel said atrocious killing of unarmed protesters at Lekki toll gate on the night of October 20, 2020, can be equated to a ‘massacre’ in context.

The panel also indicted the Lagos State Governor, Babajide Sanwo-Olu, Lekki Concession Company, the police, and the army.

The body of the petition read, “On October 20, 2020, the Buhari administration murdered multiple innocent, unarmed, peaceful #EndSARS protesters at the Lekki Toll Gate in a massacre that has since been dubbed #LekkiMassacre.

“These youths were protesting to put an end to the rampant police brutality that had become the hallmark of the Buhari regime, which treats so-called repentant Boko Haram almost like royalty, while coming hard on young Nigerians, sometimes for the flimsiest reason, such as wearing dreadlocks.

“Following the murders of these protesters, the Buhari administration denied that the incident ever occurred. They threatened those, like myself, who insisted, with proof, that this massacre happened. The government even threatened to jail people who called for those behind the murders to be brought to book.

“However, on Monday, November 15, 2021, the Lagos state Panel of Inquiry into EndSARS released its report to the state government in which it established judicially that not only did the massacre occur, but that the government of Muhammadu Buhari and its agents, re the Nigerian Army and Police, perpetuated the murders.

“This petition is therefore directed at the International Criminal Court to set machinery in motion for the trial of Muhammadu Buhari for crimes against humanity in the same way that former Liberian President, Charles Taylor, was tried and convicted.”

‘Why we signed the petition’

Some supporters have given reasons why they signed the petition.

One of them, Glory Uzoma, said, “I am signing because president Buhari committed a crime against humanity in respect of the Lekki tollgate massacre.”

Prof. Ifeanyi Ahuchogu: I’m signing because Buhari has no heart/conscience for the life and wellbeing of humanity that he ought to provide for. Let the take its course.

Promise Ogbonna: Justice must be enthroned!

Folashade Sulaimon: I’m signing because innocent lives were lost for fighting a good cause. Families of the deceased have been in agony. Justice must prevail.

MacAnthony Chike: Nigerians as a whole deserve a better government and a good leader and rights as a citizen…. enough is enough.

Cash Challenge: Davido releases list of donors - Oshoala, Ndidi, Onyekuru donate N1m each

Super Falcons captain Asisat Oshoala and two SuperEaglesplayers Wilfred Ndidi andHenryOnyekuru on Thursday joined ahostof celebrities who donated N1m each to Nigerian singer Davido, PUNCH reports.

Born David Adeleke, Davido took to his social media pages to call out fans, friendsandcolleaguesto send him money.

After sharing hisaccount detailson Twitter on Wednesday, the singer revealed that his aim was to get N200m from his fans and colleagues.

Davido, however, appreciated the trio by sharing the amount they sent on his Instagram story page.

“First lady (Oshoala) of the plug, well-received,” Davido wrote on his Instagram story page.

The Afrobeat Singer, had taken to his Instagram page calling out to his friends to support his 29th Birthday coming up on the 21st of November, 2021.

Davido had on Monday asked his friends to send him the sum of one million naira each for his birthday and to clear his Rolls Royce from the port. The singer further said he wanted to know who his true friends.

The Omo Baba Olowo reportedly Raised N151 in adayafter posting his bank account details on his Instagram page.

Below are the names posted by the singer:

Zlatan Ibile – 1,000,000

Ikorodu Bois – 5,000

Richie Richie – 1,000,000

Mr Eazi – 1,000,000

Papaya_Ex – Undisclosed

E Money – Undisclosed

Kolaqalagbo – 1,000,000

Aluya Richie – 1,000,000

Chike – 1,000,000

Nengi – 1,000,000

Money Maker – 1,000,000

Sir Banko – 1,000,000

Adekunle Gold – 1,000,000

Evih – 1,000,000

Peruzzi – 1,000,000

Mr Peak – 1,000,000

Teni – 1,000,000

Akin Alabi – Undisclosed

Baba Ali – 1,500,000

Charles of Play – 1,000,000

CubanaChief Priest – 1,000,000

Naira Marley – 1,000,000

Patoranking – Undisclosed

Obi Cubana – Undisclosed

Femi Otedola – Undisclosed

Nasboi – 1,000,000

M.I. Abaga – 1,000,000

Eniola Badmus – 1,000,000

Remove fuel, electricity subsidies early 2022, IMF tells FG

(FILES) In this file photo taken on October 15, 2019, International Monetary Funds (IMF) Managing Director Kristalina Georgieva pauses while speaking about gender equality during the IMF and World Bank Fall Meetings in Washington, DC. - Photo: AFP

The International Monetary Fund said on Friday that the Nigerian government should remove fuel and electricity subsidies completely early next year and implement revenue-based fiscal consolidation.

The IMF, in a statement at the end of its 2021 Article IV Mission, said with the emergence of fuel subsidies and slow progress on revenue mobilisation, the country’s “fiscal outlook faces significant risks”.

It said the continued reliance on administrative measures to address persistent foreign exchange shortages was negatively impacting confidence.

According to the Washington-based fund, without urgent fiscal and exchange rate reforms, the medium-term outlook faces sub-par growth.

It highlighted the need for major reforms in fiscal, exchange rate, trade and governance to alter what it described as “the long-running lackluster growth path”.

It said, “On the immediate front, fiscal and external imbalances require removal of regressive fuel and electricity subsidies, tax administration reforms and installing a fully unified market-clearing exchange rate.

“The complete removal of regressive fuel and electricity subsidies is a near-term priority, combined with adequate compensatory measures for the poor. The mission stressed the need to fully remove fuel subsidies and move to a market-based pricing mechanism in early 2022 as stipulated in the 2021 Petroleum Industry Act.”

 

The IMF said the implementation of cost-reflective electricity tariffs as of January 2022 should not be delayed.

It said, “Well-targeted social assistance will be needed to cushion any negative impacts on the poor, particularly in light of still elevated inflation.

“Nigeria’s past experiences with fuel subsidy removal, which have all been short-lived and reversed, underscore the importance of building a consensus and improving public trust regarding the protection of the poor and efficient and transparent use of the saved resources.”

According to the IMF, the headline fiscal deficit is projected to worsen in the near term and remain elevated over the medium term.

It said, “Despite much higher oil prices, the general government fiscal deficit is projected to widen in 2021 to 6.3 per cent of GDP, reflecting implicit fuel subsidies and higher security spending, and remain at that level in 2022.

“There are significant downside risks to the near-term fiscal outlook from the ongoing pandemic, weak security situation and spending pressures associated with the electoral cycle.”

The fund said over the medium term, without bold revenue mobilisation efforts, fiscal deficits could stay elevated above the pre-pandemic levels with public debt increasing to 43 per cent in 2026.

“General government interest payments are expected to remain high as a share of revenues making the fiscal position highly vulnerable to real interest rate shocks and dependent on central bank financing,” it added.

Top 8 African Currencies With The Highest Exchange Rates Against Dollar In 2021

Top 8 African Currencies With The Highest Exchange Rates Against Dollar In 2021.

As we all know all countries in Africa have different currency so are the values of this currency, some have higher values than others, so we will be looking at this currency and the ones that have a higher value.

Before we continue, let’s understand what exchange rate is all about

What is Exchange Rate?

Exchange rate simply means the value of a currency when converted to another during trade.

According to Investopedia:

exchange rates have a substantial influence on companies’ operations and profitability. Exchange rate volatility affects not just multinationals and large corporations, but it also affects small and medium-sized enterprises, including those who only operate in their home country. While understanding and managing exchange rate risk is a subject of obvious importance to business owners, investors should also be familiar with it because of the huge impact it can have on their holdings.

Below are the top 8 African currencies that have higher value against dollar

Top 8 African Currencies With The Highest Exchange Rates Against Dollar In 2021

1. Tunisian dinar

The first on our list is the Tunisian dinar, this is currently the strongest and most valuable currency in Africa. As of the time this article was published (1USD  coverts to 2.88TND).

2. Libyan dinar

Libya dinar is the second on our list, it is currently the second strongest currency in terms of value on the continent, second only to Tunisia. When converted to the dollar, (1USD  coverts to 4.59LYD).

3. Ghanaian Cedi

Ghana is another country its currency is strong due to their massive effort towards giving it enough value.

Ghana had, in 2007, re-denominated its currency such that ten thousand Cedis became equivalent to one Ghana Cedi. The country’s Central Bank explained that the re-denomination became necessary for the sake of statistical convenience. The Ghanaian Cedi (1USD converts to 6.16 CEDI).

4. Moroccan dirham

Morocco is the fourth country that has the strongest currency in Africa, for now. As of the time this article was published (1USD coverts to 9.20Mad)

5. Botswanan pula

Botswana is situated in Southern Africa, they have the fifth strongest currency on the continent. As of the time this article was published (1USD coverts to 11.59Pula).

6. Seychellois rupee

Seychellois is a tiny island country located in the Somali Sea, the country has one of the strongest currencies in Africa. (1USD coverts to 13.59SCR).

7. Eritrean nakfa

Eritrea is located in the Horn of Africa, their currency is called the Eritrean nakfa. The currency has the eighth strongest exchange rate against the dollar. (1USD coverts to 15NAD)

8. Namibian dollar

Namibian dollar gets the 7th position on the list, The rate of 1$ to Namibian dollar when we converted was (1USD coverts to 15.64NAD).

EndSARS: Tinubu, Sanwo-Olu Bitter With Buhari, Plot To Embarrass FG With Panel Report

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EndSARS: Tinubu, Sanwo-Olu Bitter With Buhari, Plot To Embarrass FG With Panel Report

 by admin November 17, 2021

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The report of the Lagos State Panel of Enquiry instituted to investigate the October 20, 2020 shootings that took place at the Lekki Tollgate in Lagos during the EndSARS protests, was on Monday, submitted to the state governor, Babajide Sanwo-Olu.

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The report indicted the Nigerian Army and the police for shootings that led to the killing and harming of unarmed peaceful protesters that are put at 48 persons.

Led by Justice Doris Okuwobi, a retired judge, the panel recommended that all soldiers deployed in the Lekki tollgate on the said day should be made to face appropriate disciplinary action, be stripped of their ranks and dismissed saying they were not fit and proper to serve in any public or security service of the nation.

Expectedly, reactions have been tripping in from many quarters with many of them seeking for the implementation of the report amidst the clamour for compensation for the victims as recommended by the panel.

While responding, the United States government said it welcomed the conclusion of the inquiry even as it awaits the Lagos State Government’s response “as part of a process that represents an important mechanism of accountability regarding the #EndSARS protests and the events that took place near the Lekki tollgate on October 20, 2020.”

“Those events led to serious allegations against some members of the security forces, and we look forward to the Lagos State and federal governments taking suitable measures to address those alleged abuses as well as the grievances of the victims and their families,” the US government noted.

On its part, the United Nations Resident and Humanitarian Coordinator for Nigeria, Edward Kallon, noted that the submission of the findings of the judicial panel would accelerate the process of justice and accountability.

“I welcome the submission to the Lagos State Governor, Babajide Sanwo-Olu, of the reports of the judicial panel on claims of brutality and shooting in the Lekki area of Lagos State during the 2020 #EndSARS protests.

“I urge the government to implement the recommendations of the judicial panel of inquiry to rebuild trust and start the process of healing and reconciliation.”

While the Lagos State government looks set to issue a white paper towards the ‘quick’ implementation of the report, the Defence Headquarters is unhappy about the channel through which it was released.

“But I’d like to indicate that the normal procedure is to have such a report submitted to the convening authority. Then, there will be a White Paper that will be presented, based on which one can make informed comments,” Chief of Defense Staff, General Lucky Irabor had noted in his immediate reaction to the report and cautioned against disparaging the military over the report while insisting that troops conducted themselves professionally at Lekki Tollgate.

The question on the lips of those close to government is however to understand the rationale and motive behind the procedural breach as raised by the Chief of Defense Staff, much more, when the government at the centre did not interfere or indicate interest in the outcome of the report.

Surprisingly, unknown to many, the report has become a political weapon in the hands of the chieftain of the All Progressives Congress, APC, Asiwaju Bola Ahmed Tinubu and his surrogate, Governor Babajide Sanwo-Olu who have chosen to weaponize the document to settle political scores with the President Muhammadu Buhari-led administration.

This newspaper sniffed that the Jagaban, as Tinubu is fondly called is unhappy with the political direction that appears not too assuring for his much publicized 2023 presidential ambition considering his waning influence in the party and dwindling popularity, especially the fragmentation of the APC in the Southwest where he’s seen as an authority. Insiders also revealed that he is worried about abandonment among his lieutenants who considered that his health and age would prevent him from being an active and productive president.

Insiders said the APC National Leader, who suffered losses from attacks on his businesses, including that on the company belonging to his son during the 2021 protests, has not recovered from image crises and public perception, and is bent on embarking on damage control using the same subject of ENDSARS to change the narrative.

The plan now is to turn the table against the Federal Government while Tinubu and the Lagos State government are seen as truth seekers who did not only unearthed the truth surrounding the 20th October, 2020 shootings but willing to implement the recommendations of the panel ‘for the love of the people.’

Also, the former Lagos State governor is reportedly bellyaching over what his camp considered to be his entitlement to seamlessly succeed President Buhari in 2023, but are beginning to feel shortchanged that after all Tinubu did to install Buhari as president, the pendulum of power may not tend to his direction and they want the president and his government punished.

Although the Federal Government is yet to make an official statement on the unsettling report, political watchers are however of the opinion, that it has raised questions about the sincerity of the information offered by its officials which got government at loggerheads with the youths and the civil society organisations.

Already, calls are being made for the removal and apologies from top government officials believed to have misled the public and the international community over the Lekki Tollgate shootings