BREAKING: CBN again keeps interest rate at 11%, expresses hope price of food will drop

The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has voted to retain the monetary policy rate (MPR), which measures interest rate, at 11.5 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 the MPR.

Addressing journalists on Tuesday after the committee’s two-day meeting at the CBN  headquarters in Abuja, Godwin Emefiele, governor of the apex bank, said the committee members unanimously retained key rates.

According to Emefiele, the committee voted to maintain the key lending rate at 11.5 percent, with the asymmetric corridor of +100 and -700 basis points around the MPR and liquidity ratio at 30 percent.

CBN said the decision to keep the interest rate was to keep the ongoing growth in the economy.

COVID-19: Nigeria records 18,000 cases among travellers, insists on protocols

The Nigerian government says more than 18,000 cases of coronavirus have been recorded from inbound travellers to the country as of January 16, 2022.

It blamed the development on the failure of travellers to strictly adhere to the travel protocols put in place by Nigeria.

The director-general of the Nigeria Centre for Disease Control (NCDC), Ifedayo Adetifa, disclosed this in a statement issued on its website on Friday.

Mr Adetifa said the decision to make repeat tests mandatory in Nigeria was based on the review of COVID-19 test positivity data among returnees to the country during the first and subsequent waves of the pandemic.

He explained that this was necessary to ensure a balance between the mandate to protect the health of Nigerians from infections and supporting the restart of the economy.

“As of 16th January 2022, over 18,000 cases of COVID-19 have been recorded from inbound travellers to Nigeria. Therefore, the associated risk of disease transmission is not trivial,” he said.

So far, Nigeria has recorded 251,684 cases of COVID-19 and 3,123 persons have died from complications caused by the virus.

Inbound, outbound travellers

Mr Adetifa said there have been complaints and enquiries on the use of the Nigeria International Travel Portal (NITP).

He said since the resumption of international flights post-COVID-19 lockdown in Nigeria, NITP remains an effective means of preventing the importation of the virus via air travel.

“Since its launch, the NITP has been updated frequently over time and more recently, there was an upgrade in October 2021, to enable a more user-friendly experience for travellers, laboratories, and other users.

“We are aware of reports of travellers to Nigeria who have experienced delays at the airport for not meeting all the travel requirements as stated on the NITP,” he said.

He urged the public to adhere strictly to the guidance on the travel portal to ensure its seamless use.

NCDC also recommends the use of card payments over bank transfers when using the portal.

The director-general added; “Registration on the travel portal prior to departure should be done immediately after your negative COVID-19 test result is obtained, preferably 24 hours before your travel date.

“Card payments are recommended over bank transfers especially if the registration on the portal is done less than 24 hours before departure.

“Travellers who do not receive their QR code despite making payment should download the Permit to Travel/QR Code using the “Get Permit to Travel” button visible on the top right corner of the portal. A link to print the Permit-To-Travel is also sent to the email address of registered travellers.”

Mr Adetifa said the agency recognised the technical challenges that might occur from time to time and will continue to make improvements to optimise the functionality of the travel portal.

He said the agency and the Federal Ministry of Health remain committed to strengthening Nigeria’s response to COVID-19 and controlling this and other outbreaks.

NLNG set to supply cooking gas to Nigerian market to crash prices

 

The Nigeria Liquefied Natural Gas NLNG Limited (NLNG) says it will supply 100 per cent of its liquefied petroleum gas to the Nigerian market to crash the prices of cooking gas.

The NLNG on Thursday in a statement signed by Andy Odeh, the general manager, external relations and sustainable development, said it will prioritise the domestic market for 100 per cent of its butane and propane production.

It said the move is designed to increase LPG availability in Nigeria, diversify its use and support the federal government’s Decade of Gas initiative.

According to the statement, NLNG is currently the highest single supplier of LPG to the domestic market, with an estimated 400,000 metric tonnes supplied in 2021.

“The milestone is coming just three months after the company supplied its first propane cargo into the domestic market and has developed a scheme to sustainably supply propane for usage in cooking gas blending as well as in agro-allied, autogas, power and petrochemical sectors of the Nigerian economy to further deepen gas utilization in Nigeria,” the statement said.

The cost of cooking gas has been on the rise since the beginning of last year.
Before now, it has been reported how the hike in the prices of cooking gas has forced many women into harmful alternatives such as using firewood and charcoal for cooking.

In December, Mele Kyari, the NNPC Group Managing Director, at the inauguration of a 120-metric tonnes LPG storage and bottling plant by Emadeb Energy Services Limited, said the corporation is currently working towards increasing the supply of LPG, in a bid to force down its rising price in the country.

“Two things are in play, one is the supply and the other is the international price of gas,” he said at the time.

“It (price) moves with the price of every other petroleum product including crude oil and its derivatives. So it is a reflection of what is happening in the international market.

“What we are doing is to increase supply. Once the supply is increased the prices will come down.

POLIO RESURFACES IN NIGERIA AS BAUCHI RECORDS 38 CASES

 

There is currently a resurgence of the Wild Poliovirus in the country after years of Polio-free satisfaction, Bauchi State has recorded a total of 38 confirmed cases of circulating Mutant Polio Virus Type 2 (Cmpv2) in 12 LGAS.

Out of the confirmed cases, 19 are from AFP, 13 from contact cases and 6 from the environmental samples with the affected LGAs to including Toro, Warji, Darazo, Misau, Dambam, Zaki, Jamaare, Alkaleri, Ganjuwa, Bauchi, Katagum and Shira.

The disclosure was made by the Executive Chairman of BASPHCDA, Dr Rilwanu Mohammed on Saturday while flagging off vaccination against the virus held at the PHC, Bayan Fada in Bauchi metropolis.

According to the BASPHCDA Executive Chairman, the target population is under 5 years with a total of 2,286,057 while the total vaccines (nopv2) so far received is 2,367,450.

Rilwanu Mohammed added that the total number of wards in the state is 323 while the total number of settlements is 17,243 7 and a Total number of 4023 House-House teams are to be engaged for the exercise as well as a total number of special teams1280 9 and a total number of Fixed teams 646

Also, the total number of DOPV teams is 756, Total number of days of implementation is 4 (11 – 15 January 2022)

According to him, the level of preparedness of the exercise by the Agency is 100% having received support from all relevant international donor agencies having received feedback to STFI/ICC of the outcome of September 2021 round which was conducted.

Also conducted was the State level training of State Technical Facilitators (STFs); Advocacy visits to Political, Religious and Traditional leadership and Ward level training of house-to-house teams.

The BASPHCDA EC further said that there are 5 special teams for LGAS, TFI & Social Mobilization Committee meeting was conducted at various LGAS to review the last round, examine successes, challenges and provide action points.

Rilwanu Mohammed further said that Inter/intra-state Border synchronization meetings between Bauchi-Jigawa-Kano, Yobe-Bauchi-Gombe-Bauchi were conducted.

The assessment of the level of LGA status preparedness using a pre-implementation checklist was also conducted just as Vaccines were distributed to LGAS.

He then stressed that Logistics have been paid by WHO and UNICEF for the implementation of  DOPV strategy in all High-risk LGAs in the state.

The National Primary Healthcare Development Agency (NPHCDA) assured that there is a need to focus attention on the fight against the resurgence of the Poliovirus particularly in the North in order to be able to curtail it before it becomes epidemic.

All other international donors and support agencies assured of a collaborative effort to quickly stop the virus from spreading.

My governmentt ‘working very hard’ on local production of vaccines — Buhari

 

President Muhammadu Buhari says his government is ‘working very hard’ to ensure the local production of vaccines.

The president, however, declined to provide any details.

“We shouldn’t make noise about it until we succeed,” he said of the efforts his government is making.

Mr Buhari spoke in an interview with the NTA, which was aired on Thursday and monitored by PREMIUM TIMES.

With its estimated population of 206 million, Nigeria relies on imported vaccines for the prevention and treatment of diseases including polio, COVID-19, measles, and others.

COVID-19 and Vaccine

The emergence of the COVID-19 pandemic highlights the importance of local vaccine production as some countries have more access to available vaccines than others.

This is partly due to overreliance on foreign donors to get vaccines.

Unfortunately, Nigeria is only one of many African countries relying on foreign donors for vaccines, including COVID-19.

This also depicts one of the many reasons African countries have the least number of persons vaccinated against the COVID-19 virus.

PDP Lists Eight Proxy Companies Allegedly Used By Governor Akeredolu To Siphon Ondo State Funds

PDP had on Sunday accused Akeredolu of using his wife and children to loot the state through the registration of various companies.

According to a report by SaharaReporters, the Peoples Democratic Party, PDP, Ondo State chapter, has released the names of eight proxy companies allegedly used by Governor Rotimi Akeredolu’s family to get contracts in the state, and siphon funds from the state coffers.

The listed companies were; Erudit Limited, Pentabon Limited, Egimka Nigeria Limited, Terrenovo Agro, Claribet Consulting Limited, Limerite Limited, Pentagon Motusi Ltd and Jakovie Energy.

PDP had on Sunday accused Akeredolu of using his wife and children to loot the state through the registration of various companies.

They noted that the governor’s family particularly his wife, Betty and his son, Babajide had been using the companies to get contracts in the state.

However, the Ondo State government in statement issued by Donald Ojogo, the Commissioner for Information and Orientation, on Monday asked the PDP, to publish details of companies linked to Governor Rotimi Akeredolu’s family and report to EFCC funds spent on Countdown Show.

“PDP’s latest misadventure mistaken for opposition is not to glorify the rudderless camp; it is to counsel the seemingly disorganised ilk and for the sake of general public at the mercy of PDP’s disingenuous misinformation.

“Their assertions in respect of 13 companies they claimed were registered by the Governor’s family in 2017 without evidence exposes the juveline and pedestrian composure of the PDP. It is sheer waste of precious media space to assert without evidence to prove. We challenge PDP to publish the names of the Directors of those companies as well as the names of those companies," he said.

Meanwhile, PDP on Wednesday revealed the names eight proxy companies allegedly used by Akeredolu’s family,

The party affirmed that action had begun towards petitioning the Economic and Financial Crimes Commission, EFCC for appropriate action.

This was made known in a statement on Wednesday by the Publicity Secretary of PDP in the State, Kennedy Peretei. He noted that findings showed that the companies were either owned by the governor’s wife or his son with most of the transactions through the account of the companies emanating from them.

“For those who think we are peddling “beer parlour” rumours, it is better to wake up from your slumber to join the rest of us to rescue and rebuild Ondo State.

“Take your time to glean through the documents. We are not arm-chair critics. We do our due diligence. As critical stakeholders, we cannot fold our hands and allow this to continue.

“As to the request to petition the Economic and Financial Crimes Commission (EFCC), the advice is un-necessary as, action is already being taken,” he said.

ROAD SAFETY TIPS FOR THOSE RETURNING FROM FESTIVE CELEBRATION

 

1. Obey the rules of the road and carry your driver’s license with you.

2. Plan the route to your holiday destination and allow yourself enough time to reach the destination

3. Make sure that your vehicle is in a roadworthy condition before departure. All lights and indicators, windscreens, windscreen wipers, brakes, steering, shock absorbers, exhaust system and tyres should be carefully examined for faults.

4. Do not overload.

5. Try to avoid driving after dark if possible.

6. Have a good rest before you embark on your journey

7. Take safety breaks every 2 hours or 200km. Rest, have an energy drink and continue once well-rested.

8. Do not drink and drive

9. Try to recognize potentially dangerous drivers on and pedestrians alongside the road and keep well clear of them

10. Be visible - drive with your lights on

11. Headlights should be dipped well before an approaching vehicle is within the range of the main beam.

12. Always wear your seat belt and see that everyone in the car is wearing theirs.

13. Drive defensively

14. Stay within the speed limit at all times

15. Only overtake when it is absolutely safe to do so

16. Maintain at least a 2-second following distance - this distance should be increased at night, in foggy or rainy conditions and when the road is wet.

17. Expect others to not be as obedient to the law as yourself

18. Avoid distractions on the road such as texting, conversations on cellular phones etc

19. Be courteous towards fellow road users - keep your temper and resist the temptation to retaliate

20. Know your emergency numbers - When you need assistance you can call the Federal Road Safety Corps (FRSC) its toll-free 122 line to report emergencies.

FRSC also has a 12-digit emergency line – 0700 2255 3772