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Makinde Reopens Sasa Market, Lifts Curfew

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Governor Makinde Donates Fire-Truck To Ibadan Airport

Oyo State Governor ‘Seyi Makinde has directed the immediate re-opening of the crisis-torn Sasa market, in Akinyele Local Government Area of Oyo state.

The governor, after a meeting with representatives of Yoruba and Hausa communities who are stakeholders in the market today said that he had agreed to reopen the market, having been assured of sustained peace.
The stakeholders were led by the Baale Sasa, Amusa Alabi, and Seriki Hausa of Sasa, Malam Haruna Mai Yasin, to the meeting which held at the Western Hall, Secretariat, Agodi, Ibadan.

Governor Makinde stated that the market was being reopened so that people could continue to make their ends meet.
He also declared that his government had lifted the curfew imposed on the area in the wake of the violence that erupted in the market recently.

According to him, due to the normalcy that has returned to the area, the government will put in place palliatives, while also ensuring that adequate security measures are in place to ensure people go about their normal businesses without threats.
He stated that every effort must be put in place to forestall any outbreak of crisis.

He said: “Since peace has returned to the market and the community, we have given the go-ahead that the market be reopened. I have ordered that some palliatives be done. This is because we also want to see what is happening there at night. So, I instructed that solar light be done so that we will see what is going on there every day and night.

“In our environment, economic activities are very germane and basic. We do not want our people to be hungry and angry so that we do not precipitate another issue.

“So, closing the market for an extended period of time is not sustainable but the fact that all the stakeholders within the community have come together themselves, is a good step in the right direction.”

Makinde also announced the closure of Iroko market, adding that its promoters were reportedly part of the traders who caused the recent clash at Sasha market.

He said: “The Iroko Market will remain shut. From what we heard, the promoters of that market were part of the people causing confusion and problem at Sasa Market. We will take a long-term view of the Iroko Market but in the meantime, it must remain shut.

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“I thank you because I know what it takes for you to be here. I have listened to you the leaders of Sasa.

“When my brother-governors visited Seriki Sasa’s palace, while we were working around, I realised that both the people I saw at Seriki’s place and those I met at Baale’s place were not happy because they have been deprived of doing their job.

“If you look at Oyo State, even when the COVID-19 was at its peak, I decided not to shut our market places because I know and also explained to the leadership of the country at the national level that in our state, we have people that the proceeds from what they get today will determine if they will eat tomorrow or not.

“So, considering the economic situation and the peculiarities we have with us, I have heard what you said, and we will immediately reopen the Sasa Market.

“The Commissioner for Local Government is here. They will bring bulldozer to the market today or tomorrow morning. They will clear the place and whatever palliatives we can do will be done.

“But I want to appeal to you largely to continue to have a good relationship with the Baale and Seriki of Sasa just the way it has been.

“Please, go back to it and wherever you need our support, we will ensure we give it to you. And if there are challenges, we are all here to fix them for you. Return to the market and Sasa community.

“So, once again, I am coming back to Sasa Market when the commercial activities must have begun fully. “The solar street-light installed at Ojoo will also be installed at the market so that you can trade both day and night and the community also will be well illuminated.”

On behalf of the traders, DIG in charge of South West, David Folawiyo, earlier clarified that peace has returned to the warring communities and urged the governor to reopen the market for traders to continue commercial activities.

The DIG equally appealed to the governor to help the traders clear the motor park and expand the frontage of the market for trailers conveying goods to market.

He said: “We have seen that there is now peace in Sasa. So, we want to urge the governor to expand the market so that trailers can enter there conveniently, even if the market will not be repaired and renovated for now.

“We want the governor to help us clear the motor park, expand the frontage of the market for trailers to park.
“What brought us here is to let you know that there is no division between the Yoruba and Hausa communities in Sasa. But the only division we have seen is only among the traders in the Sasa market.

“When the governor admitted that there would not be two markets there, all of us observed that it is a great inconvenience. And we also saw that after the closure of the market, four days after, everybody was already tired.

“From every corner of the market, they have been asking why we have not begged the governor to open the market. They even said if the market is not opened, their trailers should be allowed to convey goods to the market like before. And that is why we are here today so that we can present this case to the governor by ourselves.”

The meeting had in attendance, Commissioner for Local Government and Chieftaincy matters, Chief Bayo Lawal, Commissioner for Investment, Trade and Industry, Hon.Adebisi Adebiyi, and Commissioner for Public works and Transport, Prof. Dahud Sangodoyin, the DIG David Folawiyo in charge of South West, the Oyo State Commissioner of Police – Ngozi Onadeko and many others

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Debt Profile Under Buhari Worrisome – CBN

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Buhari Admits Buying N1.4b Vehicles For Niger Republic

Nigeria’s increasing debt profile under President Muhammadu Buhari is a source of worry to the Central Bank of Nigeria ( CBN) .

This was disclosed in a communique by the CBN’s monetary policy committee  released on Wednesday.

“The committee noted the Federal Government’s increasing debt profile and expressed concerns over debt sustainability given that global uncertainties remain elevated”, the apex said.

The financial regulator urged the federal government to take on urgent measures to cope with debt burden.

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“The MPC thus reiterated its call to the Federal Government to urgently diversify its revenue sources through various initiatives, such as, the development of a viable tax framework for the extractive and mineral export industries, to strengthen its fiscal buffers.”

As at March 2022, Nigeria’s total public debt hit N41.60 trillion, according to the Debt Management Office.

The Buhari regime has often rebuffed concern about its acute borrowings, justifying that the funds are invested in capital projects with lasting impact.

 

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BREAKING: CBN Raises Interest Rate To 14% To Tame Rising Inflation

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BREAKING: CBN Raises Interest Rate To 14% To Tame Rising Inflation

As a measure to tame rising inflation, the policy-setting committee of the Central Bank of Nigeria (CBN) has raised the monetary policy rate (MPR), which measures interest rate, from 13 percent to 14 percent.

The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within an economy is built on it.

READ ALSO: CBN Raises Benchmark Interest Rate To 13%

Addressing journalists on Tuesday after the committee’s meeting at the CBN headquarters in Abuja, Godwin Emefiele, governor of the apex bank, said the hike in interest rate would help tame rising inflation.

 

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Nigeria’s Inflation Rises Over 18 Per Cent

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Nigeria's Inflation Rises Over 18 Per Cent

The National Bureau of Statistics (NBC) has said that Nigeria’s inflation rate in the month of June 2022 increased to 18.60 percent on a year-on-year basis.

The recorded increase in June is 0.84 percent points higher compared to the rate recorded in June 2021, which is 17.75 percent.

This means that the headline inflation rate increased in the month of June 2022 when compared to the same month in the previous year (June 2021).

Increases were recorded in all COICOP divisions that yielded the Headline index.

READ ALSO: Ghana Workers Get 15 Per Cent Pay Rise To Cushion Inflation

On a month-on-month basis, the headline inflation rate increased to 1.82 percent in June 2022, this is 0.03 percent higher than the rate recorded in May 2022 (1.78 percent).

The percentage change in the average composite CPI for the twelve months period ending June 2022 over the average of the CPI for the previous twelve months period is 16.54 percent, showing a 0.62 percent increase compared to 15.93 percent recorded in June 2021.

 

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