NEWS
We’ll Create Conditions for Genuine Investments; Frustrate Criminal Adventures- Tinubu
President Bola Tinubu has assured genuine businesses intending to invest in Nigeria that his government was determined to create the conducive atmosphere for genuine businesses to thrive.
Tinubu, who was represented by the Secretary to the Government of the Federation, Sen. George Akume, said this on Tuesday in Abuja, at the opening ceremony of the 2nd edition of the Africa Natural Resources and Energy Summit (AFNIS).He warmed that the government would no longer tolerate criminal adventures and their criminal collaborators.According to him, the government will do everything possible to lower the risks of investment by overcoming the temptation to interfere in the legitimate business operation of duly licenced miners.“Dear investors, we are determined to create the conducive conditions for genuine businessmen.“We welcome you and shall do everything possible to assist law-abiding businesses to operate in our country.“However, we shall no longer tolerate criminal adventures and their local collaborators who exploit our socio-economic – environment to sabotage our nation, in the guise of bringing business.“Those caught will face the full wrath of our laws, ‘” he said.The president said that the said that the AFNIS event was also an opportunity to discuss new ideas and display new technologies.” Our country does not Intend to “re-invent the wheel”.“We hope to leverage on the advancement of technology so that our solid minerals can catch up with the world,” he said.He called on geologists, , and all other professionals in the field, to put on their thinking caps, and establish Nigeria as an intellectual, professional and industrial hub in solid mineral exploitation, manufacture and export in Africa.Also speaking, the Minister of Solid Minerals Development, Mr Dele Alake said that Nigeria has witnessed the transformative potential of the solid minerals sector.Alake expressed government’s renewed commitment to effectively harness the resources for the benefit of all Nigerians.“In Nigeria, we have witnessed the transformative potential of our solid minerals sector and the vast opportunities that lie within it.“We are committed to harnessing these resources effectively, efficiently and sustainably to drive economic growth and create prosperity for our citizens.” Our efforts in this direction have already yielded positive results, with increased exploration, investment, and responsible mining practices taking center stage,” Alake said.According to him, the global energy landscape is also undergoing a profound transformation.He said that the imperative of combating climate change was steering us towards cleaner and more sustainable energy sources driving our industrial activities towards less carbon footprints.“We must embrace this transition, seizing the opportunities it presents for innovation, job creation, and a healthier planet.“Nigeria, with its vast energy potential, is poised to play a pivotal role in this journey.“We must work collaboratively to diversify our energy sources, promote renewable energy, and implement energy efficiency measures,” hesaid (NAN
The Police Command in Anambra says gunmen have burnt its station in Umunze, Orumba South Local Government Area, killing two officers.SP Tochukwu Ikenga, the Police Public Relations Officer in the state, announced this in a statement issued in Awka on Monday.He said that the gunmen attacked the police facility with improvised explosives, shooting sporadically, which caused a fire to burn part of the station.
He said further that during the attack, two police operatives on duty were killed when they attempted to resist the gunmen. Ikenga stated that the bodies of the deceased policemen had been recovered and taken to the morgue.He also noted that joint security forces, including the police, army and navy, among others, had recovered five unexploded improvised explosives.Ikenga noted that the Commissioner of Police in Anambra, CP Nnaghe Itam, had visited the scene for assessment.He said that Itam called on anyone with information that could assist in the investigation to come forward, assuring then that such information would be treated confidential.(NAN)
By Tony Obiechina, Abuja
The Office of the Accountant General of the Federation (OAGF) has reiterated the Federal Government’s determination to maintain and operate a secure and efficient personnel and payroll system.In a statement by the Director of Press and Public Relations, Mr Bawa Mokwa on Monday, the OAGF maintained that the Integrated Personal and Payroll Information System (IPPIS) database has not been compromised, assuring that employees personal data on the IPPIS database is safe and secured.
The OAGF, which manages the IPPIS and other financial management initiatives of the Federal Government, said it is already implementing its ICT Security Policy that aims to ensure that its digital assets are secured in line with global best practices. The Office explained that no data is saved on its website, adding that the IPPIS uses the website to only share information and not for any transaction. “The IPPIS is not using the OAGF website for any transaction. The website is actually the medium to share information. Neither payroll nor payment is made through the website, therefore, no data is contained in the website”, it said. The OAGF stated that the IPPIS validation portal that was recently developed for updates of employees information was deployed for a period and after the exercise was over, the data were pulled out and the site shut down permanently.According to the statement, “the IPPIS Validation Portal was deployed on a secure platform. A secured database and application were purchased from the popular HELIX-FONS.”The Office acknowledged that the IPPIS is of utmost importance to Nigerian workers, thus it became imperative to assuage the fears of any loss or breach of employees personal data in the IPPIS database. The OAGF noted that the IPPIS has put in place necessary mechanism to resolve any problem that may arise in its operations and advised workers that observe anomalies in their salaries to follow the official procedures inorder to get such issues resolved.
By Tony Obiechina, Abuja
Nigeria’s headline inflation dropped to 32.15 percent in August, according to National Bureau of Statistics (NBS) report
The report released on Monday said the inflation eased the second time in 2024 after a 19 month increase that peaked at 34.19 percent in June.
“Looking at the movement, the August 2024 headline inflation
rate showed a decrease of 1.
It however, said on a year-on-year basis, the headline inflation rate was 6.35 percent points higher compared to the rate recorded in August 2023 (25.80%).
“This shows that the headline inflation rate (year-on-year basis) increased in August 2024 when compared to the same month in the preceding year (i.
e, August 2023).Furthermore, on a month-on-month basis, the headline inflation rate in August 2024 was 2.22%, which was 0.06% lower than the rate recorded in August 2024 (2.28%).
” This means that in August 2024, the rate of increase in the average price level is lower than the rate of increase in the
average price level in July 2024.”
The report added that food inflation rate in August 2024 was 37.52 percent on a year-on-year basis, which was 8.18% points higher compared to the rate recorded in August 2023 (29.34%).
It said the rise in food inflation
on a year-on-year basis was caused by increases in prices of; “Bread, Maize Grains, Guinea Corn, etc (Bread and Cereals Class), Yam, Irish Potatoes, Water Yam, Cassava Tuber, etc (Potatoes, Yam & Other Tubers Class), Palm Oil, Vegetable, etc (Oil & Fats Class) and
Ovaltine, Milo, Lipton, etc (Coffee, Tea & Cocoa Class).”
But on a month-on-month basis, the food inflation rate in August 2024 was 2.37 percent, a 0.10% decrease compared to the rate recorded in July 2024 (2.47 percent).
“The fall can be attributed to the decline in the rate of increase in the average prices of Tobacco, Tea, Coco, Coffee, Groundnut Oil, Milk, Yam, Irish Potatoes, Water Yam, Cassava Tuber, Palm Oil, Vegetable etc.”
It added that the average annual rate of Food inflation for the twelve months ending August 2024 over the previous twelve-month average was 36.99 percent, which was 11.98 percent points increase from the average annual rate of change recorded in August 2023 (25.01 percent).
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