Headlines
Closure of Borders Cause of Inflation, But They’ll Not Be Reopened, Says FG
- /home/rhoncare/pointblank.ng/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 27
https://pointblank.ng/wp-content/uploads/2019/05/Buhari-4-1000x600.jpg&description=Closure of Borders Cause of Inflation, But They’ll Not Be Reopened, Says FG', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
- Share
- Tweet /home/rhoncare/pointblank.ng/wp-content/plugins/mvp-social-buttons/mvp-social-buttons.php on line 69
https://pointblank.ng/wp-content/uploads/2019/05/Buhari-4-1000x600.jpg&description=Closure of Borders Cause of Inflation, But They’ll Not Be Reopened, Says FG', 'pinterestShare', 'width=750,height=350'); return false;" title="Pin This Post">
The Federal Government admitted on Wednesday that its temporary policy to close land borders was responsible for the current rising inflation in the country.
But it still defended the closure, insisting that it would remain in place until the country’s neighbours learnt to respect trade protocols.
The FG said it had to close borders because Nigeria could not continue to subsidise economies of her neighbours.
Nigeria had in August closed its land borders on the grounds that smuggling of goods from its neighbouring countries was hurting its economy.
On November 4, the Federal Government listed five conditions for reopening the country’s land borders.
As one of the conditions, the government said Nigeria would not accept imported goods that were repackaged by neigbouring countries and brought to Nigeria.
But since the border closure, headline inflation rose to 11.61 per cent as of October from the 11.24 per cent recorded in September.
On Wednesday, Ahmed told State House correspondents that inflation rose due to hikes in food prices arising from the closure of the borders.
She was responding to questions after Wednesday’s Federal Executive Council meeting ended in Abuja.The FEC meeting was presided over by President Muhammadu Buhari.
However, the minister stated that the border closure was a temporary measure adopted by the government to protect the economy against trade malpractices by neighbouring countries and would be reopened when all of Nigeria’s demands were met.
She gave details, “On inflation, headline inflation declined every month for several months before we noticed an optic in the last two months. And now, headline inflation is at about 11:61 per cent as of the end of October.
“The slight increase in this inflation between September and October is due to food inflation. The food inflation relates to prices of cereals, rice and fish. And part of the reason is the border closure.
“But, the border closure is very, very short and temporary and the increase is just about two-basis point. Remember, there was a time inflation was nine per cent and it grew to about 18 per cent in January 2017 when we were in recession.
“The relationship between inflation, interest rate and growth is managed by the monetary authorities and is a management that is tracked on a regular basis.
“So, if you reduce interest rate, you expect more borrowing for investments in the real sector. But, at the same time, that also has the tendency of reducing money that is used for consumption on a day to day basis.
“So, it is a balance that we continue to watch on a regular basis. We expect that this will be moderated as border closure impact fizzles out and also as the monetary authorities continue to support the MPR (monetary policy rate), therefore ensuring that interest rates are not on the high side.”
Ahmed insisted that the government had little choice but to shut the borders else Nigerians would suffer the economic consequences, especially now that the African Continental Free Trade Area Agreement was coming into effect.
“What we are doing is important for our economy. We signed up to the ACFTA; we have to make sure that we put in place checks to make sure that our economy will not be overrun as a result of the coming into effect of the ACFTA.
“That is why we have this border closure to return to the discipline of respecting the protocols that we all committed to”, the minister added.
On his part, the Minister of Information and Culture, Mr Lai Mohammed, explained that the gains of the border closure outweighed any other impact it might have caused, adding that Nigeria was subsidising the rest of West Africa.
He argued that the practice of importing goods into neighbouring West African countries and re-packaging them for Nigeria to look as if they were manufactured in such countries was not healthy for Nigeria’s economy.
Mohammed disclosed that up till Tuesday this week, Nigeria and and its neighbours were still engaged in discussions on why it was important for all the parties to respect the ECOWAS trade protocol on transit of goods.
He said, “The border closure, frankly speaking, is what we needed to do and we had to do it. We cannot continue to subsidise the rest of West Africa. And the benefits for border closure for me, I think far surpass the very little increase in inflation.
“We have been able to save about 30 per cent from our fuel consumption, which means that over time we have been subsidising the fuel consumption of other countries. Within the last three months, we have been able to increase by 15 per cent, duties collected from imports.
“Within the same period, we have been able to drastically reduce the volumes of arms and ammunition that have been coming into the country through smuggling, ditto with illicit drugs.
“All Nigeria is saying is, please, let’s respect the protocol on transit. ECOWAS set up a protocol on transit of goods, which is very simple. If a container meant for Nigeria is dropped in Cotonou, the authorities in Benin Republic should escort the container to the customs in Seme border, and that way proper duty will be levied and will be paid.
“But, on the contrary, what we have seen happening over the years is that our neighbours will put about five containers on one truck and drive them to the border as if it is only one container that they are going to pay duties on. Worse still, less than even 50 per cent of what is meant for Nigeria will come through the approved border.”
The Punch
Headlines
Oyedepo Knocks Tinubu over Worsening Insecurity, Economic Hardship
General Overseer of Living Faith Church Worldwide aka Winners Chapel, Bishop David Oyedepo, has taken a swipe at President Bola Tinubu over the worsening insecurity and economic hardship in Nigeria.
In a viral video shared online, Oyedepo alleged that the Tinubu administration was failing to take decisive action to address the challenges bedeviling the Nigerian people.
The cleric expressed anger over the persistent attacks and killings across the country, issuing a note of warning that Nigerians who have endured the situation for a long time may no longer remain silent.
The General Overseer, however, condemned those behind the attacks and killing of unarmed Nigerians, stating that victims should not be expected to show sympathy towards the perpetrators of the heinous crime.
“The president needs to act now and stop pretending. You can’t slaughter members of my family and expect me to pray for you. I will pray against you and your household.
“The government is pretending like they don’t know what to do. I have been quiet for a long time, but the bubble is about to burst,” he fumed.
He equally accused the government of appearing unaware of the severity of the security crisis, saying leaders had failed to demonstrate the urgency required to protect citizens and restore confidence.
Headlines
2027: Tinubu Not Qualified to Contest Election, Says ADC
The African Democratic Congress (ADC) has argued that President Bola Tinubu is not qualified to contest the 2027 presidential election, citing his alleged failure to present his primary and secondary school certificates to the public.
Tinubu, in the form he submitted to the Independent National Electoral Commission (INEC) for next year’s election, reportedly left blank the sections designated for his primary and secondary school education, raising concerns among some Nigerians, particularly members of the opposition.
A lawyer and ADC chieftain, Kalu Kalu, alleged that the President committed forgery by previously presenting certificates he did not possess, an act he claimed automatically disqualifies him from contesting for the nation’s highest office. He cited Section 137(1)(j) of the 1999 Constitution, which states that a person is not qualified to run for the office of President if they have presented a forged certificate to the Independent National Electoral Commission (INEC).
He alleged that the primary and secondary schools Tinubu claimed to have attended either did not exist at the time or were falsely represented. Kalu further claimed that although Tinubu presented those certificates during the 2023 election, the due diligence carried out by the ADC’s presidential candidate, Atiku Abubakar, who was the Peoples Democratic Party (PDP) presidential candidate in the last general election, had prompted the President to remain silent about his primary and secondary school education in his latest submission to INEC.
Kalu also questioned the authenticity of President Tinubu’s Chicago State University certificate, saying it had been subjected to scrutiny in a United States court.
The ADC stalwart said: “Atiku Abubakar went for the discovery of the academic records of Bola Ahmed Tinubu and the US court directed Chicago State University to release those academic records of Bola Ahmed Tinubu. And when they were released, it was found that Bola Ahmed Tinubu made a very dangerous false entry that he attended Government College, Lagos and graduated in 1970, whereas Government College, Lagos, was not even in existence in 1970; it was established in 1974. That’s one.
Speaking on whether the matter could be relitigated, Kalu said: “The challenge is that the Supreme Court’s position on pre-election matters is that only an aspirant can challenge another aspirant in the race. Now Tinubu has emerged, and nobody from the APC is challenging him. But the issue now is Section 29 of the Electoral Act. Is the Electoral Act superior to the Constitution? The answer is no. If the Constitution says, under Section 137(1)(j), that you are not qualified to contest an election if you have presented a forged certificate to INEC.
Headlines
Tinubu’s “Prosperity” Exists Only in His Head – Atiku
Former Vice President of Nigeria and Presidential Candidate of the African Democratic Congress (ADC), Atiku Abubakar, has expressed bewilderment over President Bola Tinubu’s latest claim that “prosperity is on the horizon” and that “the quality of life is improving,” asking whether the President was referring to another country or the Nigeria that millions of citizens endure every day.
In a statement issued by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the President’s remarks reveal a troubling disconnect between those who govern and the people they were elected to serve.
“Mr. President says prosperity is on the horizon. Nigerians are asking: whose horizon? Certainly not that of the market woman whose capital has been wiped out by inflation. Not that of the civil servant whose salary now expires before the month begins. Not that of the manufacturer struggling under crushing energy costs. Not that of the unemployed graduate who sees no future. Certainly not that of farming communities forced off their ancestral lands by terrorists and bandits, families mourning loved ones slaughtered in senseless attacks, or countless Nigerians who now live in daily fear of kidnappers who have turned human lives into commodities. And certainly not that of millions of households that have quietly reduced the number of meals they eat each day simply to survive.”
Atiku said that while no serious person disputes that President Tinubu inherited challenges, no President is elected to inherit excuses.
“The Constitution did not swear President Tinubu into office to explain history. It swore him into office to change it. Every administration inherits problems. Great leaders are remembered for solving them, not for endlessly rehearsing them.”
The former Vice President noted that after more than three years in office, the Tinubu administration can no longer govern by blaming its predecessors.
“The Nigerian people are not interested in who created the problem. They want to know who will solve it. A government that still blames its predecessors after years in office is, by its own conduct, admitting that it has run out of ideas. President Tinubu may find comfort in blaming those before him, but history will remember his administration as the one under which Nigerians endured unprecedented hardship, institutionalised fiscal recklessness, and one of the greatest appropriation scandals in the annals of our nation. The suffering of Nigerians today is driven not by the past, but by an administration that has elevated opacity over transparency, rewarded a privileged circle of cronies, and condemned millions to deepening economic pain, insecurity, and despair.
“It is even more astonishing that a President who constantly invokes China now blames Nigeria’s population for the country’s difficulties. China did not become an economic superpower by complaining about the size of its population. It became prosperous because visionary leadership transformed that population into its greatest economic asset through sustained investment in manufacturing, infrastructure, education, technology, and export-led industrialisation. Great leaders convert challenges into opportunities. They do not convert opportunities into excuses.
“That is precisely what an Atiku Abubakar administration will do. We will invest aggressively in manufacturing, modern infrastructure, quality education, skills acquisition, agriculture, and export-driven industries to unlock the enormous productive capacity of our people. Nigeria’s youthful population is not a burden; it is our greatest strategic advantage. Our people are not the problem. President Tinubu’s failed leadership is.”
He said it was particularly insensitive for the President to suggest that because hunger existed before his birth, Nigerians should somehow accept the unprecedented hardship confronting them today.
“Nobody ‘elected’ Tinubu to eliminate the hunger of 1940. Nigerians ‘elected’ him to confront the hunger of today. The fact that previous generations endured hardship is not a licence to deepen the suffering of the present generation.”
Atiku stressed that hope is not manufactured through speeches but earned through purposeful leadership and policies that improve lives.
“Hope cannot be preached to a hungry stomach. It cannot be legislated into existence. It cannot substitute for affordable food, stable electricity, productive jobs, quality education, accessible healthcare, or security for families to sleep with both eyes closed. Government inspires hope through performance, not rhetoric.”
He urged President Tinubu to step outside the comfort of official briefings and carefully choreographed ceremonies and reconnect with the realities confronting ordinary Nigerians.
“If the President truly believes that the quality of life is improving, then one must respectfully remind him that the Nigeria he is talking about exists only in his head. It is certainly not the Nigeria where families are choosing between food and medicine, where communities are fleeing armed violence, where kidnappers dictate the rhythm of daily life, and where hope is becoming more expensive than bread.”






