NEWS
Poverty to Tighten Grip on More Nigerians – World Bank
By Edozie Obasi-Eze
Many more people in Nigeria and its Sub-Saharan neighbors would fall prey to acute poverty within the year.
This is contained in a World Bank report made available via a World Bank newsletter on Friday, titled, “Global Economic Prospects,” Russia’s invasion of Ukraine and its effect on the commodity market, supply chains, inflation, and financial conditions have intensified the slowdown in economic growth.
A part of the report stated, “More people in SSA are expected to fall into extreme poverty, especially in countries reliant on imports of food, and fuel. Fiscal space is narrowing further as the government ramps up spending on subsidies, support to farmers, and in some countries, security.
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However, the impact of the war will vary across countries, as elevated commodity prices will help soften the damaging effects of high inflation in some large commodity exporters”.
The World Bank opined that the possibility of high global inflation could eventually result in tightened monetary policy in advanced countries which might lead to financial stress on emerging markets and developing economies.
In the report, President of, World Bank, David Malpass, was quoted as saying that the world was facing the deepest global recession since World War II.
In his words, “The global economy is facing high inflation and slow growth at the same time. Even if a global recession is averted, the pain of stagflation could persist for several years- unless major supply increases are set in motion.”
The report added that growth in Sub -Saharan Africa is projected to slow to 3.7 per cent this year reflecting forecast downgrades of over 60 per cent of regional economies.
Price pressures, partly induced by Russia’s invasion of Ukraine, are sharply reducing food affordability and real incomes across the regions.
Top among the issues that could fuel extreme poverty in Nigeria and her environs, according to the report are, prolonged disruptions to food supply across the region, which could significantly increase poverty, hunger, and malnutrition, while persistent inflation might ignite stagflation risks and further limit policy space to support recoveries.
An elevated cost of living could increase the risk of social unrest, especially in low-income countries, the report highlighted.
NEWS
Ibadan Man On Why He Used 76 Women For Ritual, Ate Others
An ear-tingling tale has emerged from the Oyo State capital, Ibadan, where a yet-to-be-identified male confessed on radio that he sacrificed almost 80 women to his idol over a seven-year period.
He made the confession in Ibadan, while appearing at a Fresh FM radio programme, titled, ‘Opeyemi’ on Saturday.
Famous in the locality, Foko area of Ibadan, where he was born, by his alias, ‘Mistina Orobo’, the now self-acclaimed pastor asserted that the almost 80 women were not part of those he was hired to kill and had eaten.
He was driven to sacrifice the women in the quest to renew his mystical power. He would then indulge in cannibalism after he had taken their blood for sacrifice to his idol.
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In his words, “My idol takes about 73 to 76 women for over seven years. These women are always gotten from the club or other popular places. When I eat people, it is purposely to renew the voodoo in my body. Sometimes, when I’m shot, it won’t penetrate, even when I’m hacked, the machete breaks. The sweetest human parts are tongue, palm, and foot.”
The cannibal then used the mystical powers for nefarious activities including supporting others, including politicians, business people, and high flying career people, like bank managers, in the quest to accomplish ulterior motives.
“I also work for bank managers, politicians, and some other rich men. I’m very popular among them. When I first worked with a bank manager, it was one wealthy man that we killed and the info was supplied in the bank.
“The only person who was left to sign refused to sign, we visited him, made him sign, and killed him aftermath. I charge up to N50 to N80 million to get people killed and we always work as a team. I taught some people to work, some as highway or armed robbers and I usually get my fair share,” he added.
He formally sought anonymity until the right time, and gave graphic details of what he and his boys did to influence outcome of elections in Oyo State.
On his early days, the mysterious man confessed that he has been eating sacrifices since the age of nine as the son of an herbalist, from which he added hired assassin and highway robbery to his trade.
“As a child of an herbalist, I always eat sacrifices in seven different junctions, this was what fortified me before I grew up to become a dreaded hired assassin and sometimes, highway robber,” he confessed.
On how he turned a new leaf, the man said he met Jesus in his dream after he attempted to avenge people who earlier fought with him.
According to him, “I had been killed before but I woke up because of the idol I had at home. The day I went to retaliate those people who fought and killed me. When we got to the first person, I had a change of mind. When we got to the house of the other one, he was drunk, and my boy was about to unleash on him when I begged that he should be spared, since then, I have been sympathetic and have left the wayward life. Now, God has taken over my life.
“I am now in a seminary. I spent four years learning to be a prophet. I am not ready to establish a church. I just want people to know my terrible story. I had sold all three houses and cars I bought while engaging in these acts. I met Jesus in my dream.”
He also stressed that a former lawmaker in the House of Representatives, Temitope Olatoye (a.k.a. Sugar) died because he was in Ghana at that time if not it would have been averted, adding that he had always informed Sugar of the dangers looming.
Recall that Sugar died on March 9, 2019, in the Intensive Care Unit of the University College Hospital, after suffering bullet wounds in the head from shots of suspected political thugs in the Lalupon area of Ibadan.
The public is still wondering at the speed with which the news of his attack spread, the tales in the locality being that Sugar died on the spot.
NEWS
JUST IN: Angry Nigerians Storm NNPC HQ, Demand Mele Kyari’s Resignation
Tensions flared outside the Nigerian National Petroleum Corporation (NNPC) headquarters in Abuja on Monday as a large group of Nigerians gathered to demand the resignation of NNPC Group Managing Director Mele Kyari.
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The protesters, driven by frustration over reported mismanagement and high spending, specifically pointed to $4 billion spent on the refurbishment of the Port Harcourt, Warri, and Kaduna refineries—projects that many feel have yielded little return.
More to follow……….
NEWS
JUST IN: Tinubu Swears In Seven Newly-Appointed Ministers
President Bola Ahmed Tinubu has officially sworn in seven newly-appointed ministers at the Council Chambers of the Presidential Villa in Abuja.
The ceremony, held on Monday, brought together the ministers-designate, their families, and dignitaries, marking a significant step in the ongoing reshaping of Tinubu’s cabinet.
This swearing-in follows a week of important political activity, including the Senate’s screening of the nominees, which occurred shortly after President Tinubu announced their appointments.
Presidential spokesman Bayo Onanuga had confirmed that the new ministers would be screened on Monday, setting the stage for today’s event.
To accommodate the swearing-in ceremony, the Federal Executive Council (FEC) meeting, typically scheduled for Mondays, has been rescheduled to Wednesday.
This cabinet reshuffle reflects President Tinubu’s response to increasing public demands for change amid Nigeria’s ongoing economic challenges.
In a bid to enhance governmental effectiveness, Tinubu dismissed five ministers and reassigned ten others, aiming to tackle pressing national issues more effectively.
The seven ministers include:
Dr. Nentawe Yilwatda: Minister of Humanitarian Affairs and Poverty Reduction
Muhammadu Maigari Dingyadi: Minister of Labour and Employment
Bianca Odinaka Odumegwu-Ojukwu: Minister of State for Foreign Affairs
Dr. Jumoke Oduwole: Minister of Industry, Trade and Investment
Idi Mukhtar Maiha: Minister of Livestock Development
Yusuf Abdullahi Ata: Minister of State for Housing and Urban Development
Dr. Suwaiba Said Ahmad: Minister of State for Education
As they assume their roles, attention will be on how these ministers navigate the complexities of Nigeria’s economic landscape and work towards policies that improve the lives of citizens.