A civil society organisation, The Osun Masterminds, TOM, has urged President Bola Tinubu to end the floatation of the Naira and revert to a Central Bank of Nigeria, CBN, guided pricing that will be devoid of corruption and the sharp practices that characterised the apex bank under Godwin Emefiele. TOM also demanded a return of subsidy on petrol until a time in the future, when proper structures have been put in place to manage the consequences of total deregulation.

These demands formed part of the address of TOM’s September State of the State address on Saturday.Delivering these demands, the Executive Director of TOM, Prof Wasiu Oyedokun-Alli added that the Federal Government should “put more resources into strategic subsidies for common Nigerians instead of sharing more money to the States, which end up financing the reckless lifestyle of many of the Governors”.

The group held that before the removal of fuel subsidy on May 29, 2023, the government was expected to follow up with several proactive measures that will keep the possible implications in check.

“Part of the implications that we foresaw, was rising costs of commodities, due to rising costs of transportation, occasioned by rising costs of petrol. We expected that policies that would counteract these fall-outs would hastily be implemented, to protect Nigerians from the hardship we experience today.

“To make matters worse, the Federal Government, through the Central Bank of Nigeria, also decided to float the Naira, leaving it to the whims and caprices of market manipulators, speculators, and hawks. While a market-driven pricing of the Naira would be ideal, the peculiarities of our character as Nigerians, soon negated whatever possible good outcomes we could get.

“The Foreign Exchange rate dealt a huge blow on the common man, because Nigeria has remained as export dependent as it always was before the floating of the Naira.

“In fact, we dare say that Nigeria’s export dependence has worsened when we compare a 2.4% annual population growth, with a meagre 1.8% Agriculture value growth. This would simply mean that our numbers are increasing faster than our capacity to feed ourselves. This is a reality we are sure the Federal Government is aware of.

“Another fact that underscores the direct effect of the Foreign Exchange rate on the average Nigerian, is our heavy dependence on the warring states of Russia and Ukraine, for two major agricultural value chain inputs, that is Fertilizer, and Wheat.

“So, while we continue to depend more on the rest of the world to feed us, foreign exchange rates spiraled out of control with currency depreciation increasing import costs, while transportation costs locally, completed the pummeling of Nigerians and our economy,” the group added.

Source: Dailypost

Famous Nollywood actor, Jim Iyke, has expressed comfort with public perceptions about him. The actor in a recent Instagram post on his page, noted that he will not compromise his principles, even if it means being misunderstood.

Jim Iyke explained that his decision to stand by his values has helped him shape his career. I have grown extremely comfortable being the villain in some people’s stories. Many times, the lines between wrong and right blur in these narratives. I am happy as always to dispense with my side of it. My recourse is to distance myself from the grandstanding and theatrics.

“Sometimes, I am quick to build a wall before compromising my ideologies and principles. It is what forged who I am. It’s what inspires what I am to become.

“One thing is certain: you must trust people to be who they are. The moon will turn red before I’m who I am not. I am light to many. Others, I am what their insecurities amplify. I’m hated for it. I’m loved for it.”

Source: Dailypost

In other news –

Nigerian singer, Divine Ikubor, popularly known as Rema, has revealed the craziest rumour he has seen online about himself. The ‘Calm Down’ hitmaker said being tagged “a devil worshiper” was the craziest rumour ever peddled against him.

Rema featured in a recent episode of the ‘Kids Take Over’ podcast.The host asked: “What’s the most crazy, untrue thing that you’ve seen online about you. Read more

Nigerian singer, Divine Ikubor, popularly known as Rema, has revealed the craziest rumour he has seen online about himself. The ‘Calm Down’ hitmaker said being tagged “a devil worshiper” was the craziest rumour ever peddled against him.

Rema featured in a recent episode of the ‘Kids Take Over’ podcast.The host asked: “What’s the most crazy, untrue thing that you’ve seen online about you?”

Rema replied: “They say worship the devil [laughs]. It’s crazy. I didn’t respond to it because it is not important. It’s a waste of time.”

The singer explained that the symbols he used in expressing his art were Edo culture and not satanic.

Rema also spoke about working with Canadian superstar, Drake in 2020 for his song ‘Mention Me’ which got leaked.

“I’m happy to work with a legend like Drake. I feel like we are going to make a very huge song if we take our time to build something very strong,” he said.

Source: dailypost

In other news – Traders blame high cost of food items in Nigeria on insecurity

Traders in Ose Okwodu Market in Onitsha, Anambra State, have blamed the rising cost of food items in Nigeria on the insecurity bedeviling the country.

The traders stated this through their market leaders on Thursday when the Federal Competition and Consumer Protection Council (FCCPC) visited the market for a survey on the cause of the rising cost of food items in the country. Read more