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.
Read Also >> Man Bravely Drives Burning Truck Out Of Residential Area In Delta
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.
Edo State Governor, Senator Monday Okpebholo has inaugurated three new governing councils for Institutions and Agencies in the state.
The establishments with newly governing councils are Persons with Disabilities, Edo University, Iyamho and Edo State House of Assembly (EDHA) Service Commission.
After inaugurating the three groups in the new Festival Hall in Government House, Benin City, Okpebholo charged the new appointees to discharge their duties effectively and efficiently.
The Governor said the task for the newly-inaugurated bodies is enormous and charged them to discharge their duties and responsibilities according to the law governing the State.
ALSO READ: State Of Emergency Resonates In Edo State
“We are all here because of this event today as my administration has carefully selected those we are inaugurating today to collaborate with us to pilot the affairs of the State and contribute to its development.
“We have carefully selected great minds to run the affairs of Edo State House of Assembly Service Commission believing they will bring the needed change required to develop Edo State,” he said.
To the members of the Governing Council Edo State Commission for Persons with Disabilities, led by the chairman, Theophilus Egbodion, the Governor said that despite their challenges, his administration would not discriminate against anybody.
“There is no discrimination in this administration. We are all one working to achieve our common goal, which is to develop Edo State. The situation you find yourselves is not made by you but caused by circumstances and with you in our Government, we will relate with others very well. You are not disabled in mind as I promise to work with you as all your requests will be looked into.”
For the governing council of Edo State University Iyamho, led by Prof. Olusegun Akinyinka, the Governor, said the members chosen by his administration were a well-calculated move to bring credible people with proven characters to govern and move the school forward.
“Your choice is deliberate as we believe that with your experience, the school will do very well. As we inaugurate you today, the university will experience a new dawn such that the school will assume an enviable height,” he stated.
Okpebholo said the task ahead of the newly-inaugurated members is enormous and “I charge you to discharge your duties and responsibilities according to the law governing the State. I want to thank and welcome you to the fold.”
Responding, the chairmen, Edo State House of Assembly Service Commission, Hon. Ezehi Igbas; chairman Governing Council Edo State commission for persons with disabilities, Egbodion; and Chairman Governing Council of Edo University, Iyamho, Prof. Olusegun Akinyinka thanked the Governor for finding them and their team worthy of the appointments and promised to support and collaborate with the administration to succeed.
The Heads of Local Government Administration (HLGAs) in Rivers State have been thrown into a state of anxiety following a directive from the Sole Administrator of the state, Vice Admiral Ibok-Ete Ibas (rtd), ordering them to submit reports detailing the activities of their councils over the past two years.
The directive, issued through a letter from Dame Dr. Itong Awani, Permanent Secretary of the Ministry of Local Government Affairs, mandates that the reports be submitted by Wednesday, March 26, 2025.
The sudden call for accountability has unsettled many LGA heads, particularly given the political backdrop in Rivers State.
Following the Supreme Court ruling that invalidated the 2024 local government elections, suspended Governor Siminialayi Fubara had directed the HLGAs to take over local government administration.
READ MORE:Lawyer Petitions Court To Declare Rivers Sole Administrator’s Appointment Null
Now, the administrator’s demand for a comprehensive report has sparked speculation about potential changes in the councils’ leadership.
The letter, which only became public on Wednesday, outlined specific areas the reports must cover. According to the directive, HLGAs must provide: Introduction/Preamble, Functions of the Council, Number of Staff on Nominal Roll (categorized by cadre), Sources of Revenue Generation, Activities, Ongoing, and Completed Projects in the Past Two Years, Achievements of the Council, Challenges and Recommendations.
The letter emphasized the urgency of compliance, stating: “His Excellency, the Sole Administrator of Rivers State has directed that all Heads of Local Government Administration should submit the report of their councils to the office of the Permanent Secretary, Ministry of Local Government Affairs.
“I am also to inform you that all submissions using the format listed below should reach the office of the undersigned on or before Wednesday, 26th March, 2025, for onward transmission to the office of the Sole Administrator, Government House, Port Harcourt for further necessary action.”
Additionally, the directive instructs LGA heads to highlight the challenges faced by their councils and provide recommendations on how to address them.
A fire outbreak on Tuesday night severely damaged a two-storey commercial building on Iweka Road, near Ochanja Main Market in Onitsha South Local Government Area of Anambra State.
Confirming the incident on Wednesday, the Anambra State Fire Service said it received a distress call at around 9:35 p.m. and immediately dispatched firefighters to the location.
Fire Chief Chukwudi Chiketa told the News Agency of Nigeria (NAN) that the cause of the fire was yet to be determined.
READ ALSO: Billions Lost As Fire Razes Kano Market, Recycling Hub
“We don’t know the exact cause of the fire, but we were called to respond, and we did,” he said.
He further disclosed that four shops, mainly dealing in furniture materials such as leather and foam, were affected.
“These shops contained furniture materials such as leather, foam, and other items,” he added.
The firefighting team worked tirelessly through the night, eventually withdrawing from the scene around 3:05 a.m.
In the aftermath, residents and traders gathered at the site, attempting to salvage whatever remained of their goods.
Okpebholo Inaugurates Three Governing Councils
Kunle Remi, Wife Welcome First Child After Challenging Journey
Rivers Sole Administrator Orders LGAs To Submit Two-Year Reports
Fire Ravages Two-Storey Commercial Building In Anambra
State Of Emergency Resonates In Edo State
