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Why Will Nigerians Prioritize Soaring Food Prices Over Details Of 2024 Budget?…Says Financial Analyst (Details)

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Bismarck Rewane, the Managing Director and Chief Executive Officer of Financial Derivatives Company Limited, has highlighted that the majority of Nigerians are more preoccupied with the escalating cost of food than delving into the specifics of the recently presented 2024 budget….CONTINUE READING....KINDLY READ THE FULL STORY HERE▶

 

 

 

According to Rewane, citizens are less concerned about budgetary arithmetic and economic mathematics, emphasizing that their primary focus is on how the budget directly impacts their daily lives.

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Speaking on Channels Television’s ‘Business Morning’ show, the economist stressed that the crucial factors for people are the prices of essential commodities such as rice, bread, and garri.

Despite President Bola Tinubu’s presentation of the 2024 budget, which targets a 3.76% economic growth and addresses national security, job creation, and poverty reduction, Rewane asserted that the average Nigerian is more interested in tangible improvements in their cost of living.

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Wike-Backed PDP Faction Vows To Field Presidential Candidate.

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A faction of the Peoples Democratic Party (PDP) aligned with the Minister of the Federal Capital Territory, Nyesom Wike, has declared its intention to present a presidential candidate in the 2027 general elections.....KINDLY READ THE FULL STORY HERE▶

This comes despite Wike’s open endorsement of President Bola Ahmed Tinubu for re-election, as well as his recent comments suggesting the party may struggle to fund a nationwide presidential campaign.

However, speaking in an interview, the PDP National Publicity Secretary, Jungudo Haruna Mohammed, dismissed claims that the party would not field a candidate, insisting that preparations are ongoing.

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He said the party’s National Executive Committee meeting scheduled for Monday will address key issues such as zoning arrangements and nomination fees.

According to him, “We are going to have a presidential candidate. The NEC will decide the zoning formula. Our goal is to win the election and take power from the APC.”

Responding to questions about Wike’s support for President Tinubu, he argued that the minister was speaking in his personal capacity and not on behalf of the PDP.

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He stressed that there is a clear separation between Wike’s role as a federal appointee and his status within the party, adding that the PDP’s decisions rest with its leadership structures.

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Ibadan Elders Warn Olubadan Over Rift With Makinde: “Tread Carefully”.

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The Balogun of Ibadanland, Oba Tajudeen Ajibola, has revealed that Ibadan elders have stepped into the ongoing tension between Oyo State Governor Seyi Makinde and the Olubadan of Ibadanland, Oba Rashidi Ladoja.....KINDLY READ THE FULL STORY HERE▶

The development follows rising political controversy in the state after former Ekiti State Governor Ayodele Fayose alleged that Makinde was plotting against the Olubadan, a claim denied by both the state government and the palace.

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Amid the growing tension, some lawmakers also distanced themselves from alleged impeachment discussions involving the governor, insisting they were not part of any destabilising plot.

Speaking with journalists in Ibadan, Oba Ajibola said elders in the city had intervened to calm the situation and urged all sides to avoid actions that could disrupt peace in the state.

He stressed that the Olubadan remains a highly respected traditional ruler and should not be drawn into political disputes.

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Ajibola advised Oba Ladoja to remain neutral and act as a father figure to all politicians, regardless of party affiliation, warning that the dignity of the throne must be protected at all times.

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“There Are Some Manipulations Going On” — Ukachukwu Blasts Marketers Over Fuel Price Hike.

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The Chief Executive Officer of Aviation Africa, Toni Ukachukwu, has criticized petroleum marketers over the recent fuel price increase, alleging that there is ongoing manipulation in the Nigerian oil sector.....KINDLY READ THE FULL STORY HERE▶

Speaking on Arise News, Ukachukwu said Nigerians should not be bearing the effects of global tensions such as the US-Iran conflict, especially as the country has local refining capacity.

He noted that although Nigeria is affected by global geopolitics, the impact should not justify a drastic spike in fuel prices.

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According to him, “There is some kind of manipulation going on with the marketers. Nigeria should be insulated from the US-Iran war because we have local refining capacity, including the Dangote refinery.

“Yes, global disruptions can affect us, but not to the extent of 300 percent. That is not acceptable, and there are clear manipulations happening.”

Meanwhile, the Airline Operators of Nigeria (AON) has suspended its planned strike after intervention by the Minister of Aviation and Aerospace Development, Festus Keyamo.

Tinubu Explains Fuel Subsidy Removal As Necessary For Nigeria's Future

The decision followed an emergency meeting of the association’s Executive Council and Board of Trustees, where members agreed to allow space for dialogue on the rising cost of Jet A1 fuel.

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