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CBN Was Wrog to Have Devalued Naira – Buhari

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President Muhammadu Buhari is unhappy with the Central Bank of Nigeria, CBN, over what he called ”the ruthless devaluation of the Naira.”While speaking at the Ramadan breaking of fast with members of the business community ,on Monday, the president condemned “the ruthless devaluation of naira,’’ saying that he was yet to be convinced about the economic benefits of the exercise.He said

“How much benefits have we derived from naira devaluation in the past?
“I don’t like the returns I get from the CBN because that coupled with the demand that let us devalue the naira. In August 1985, the naira was N1.3k to a dollar, now you need N300 or N350 to a dollar.“What do we derive from that, how much benefit can we derive from this ruthless devaluation of the naira?“I’m not an economist neither a businessman, I fail to appreciate the economic explanation.“What has happened to us now is that we have maneuvered ourselves into a mono-economy which led to the collapse we are seeing now.“A lot of responsibilities now fall on your shoulders. You have a lot of investments, a lot of people you employ,’’ he told the businessmen.

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Lagos- Calabar Coastal Project: Peter Obi inciting Igbos against Tinubu Govt

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The Minister of Works, Dave Umahi, has alleged that Peter Obi, former presidential candidate of the Labour Party, LP, is inciting people of the southeast, especially those who are not well informed, against the government.
Umahi claimed that Obi would not fight for the people even after getting them into trouble.
He made the statement on Wednesday while speaking during an event to compensate property owners affected by the Lagos- Calabar coastal road prospect.
The exercise was organized by the Federal Ministry of Work.
The 700-kilometre coastal highway has been enmeshed in controversy following the demolition of Landmark Beach Resort, valued at $200 million, to create a right of way for the project which is estimated to cost the federal government N15 trillion.
After the demolition, a visibly worried Paul Onwuanibe, the Group CEO of Landmark, told BusinessDay that about 70 percent of the beach was destroyed by the government bulldozer, describing the action as “insensitive.”
“What is left of these businesses are the rubbles you can see (in video clips he captured while the demolition was going on). Those are people’s investments and means of livelihood reduced to mere rubbles; so many jobs have been lost and many Nigerian families are in for it,” Onwuanibe said.
On his part, Obi slammed President Bola Tinubu’s administration for going on with the controversial Lagos-Calabar coastal highway project in defiance of public outcry.
The presidential candidate expressed displeasure that the government is embarking on a job-losing project at a time of rampant unemployment.
Obi said it was not too late to discontinue the Lagos-Calabar highway project, adding that urgent necessities are nationwide security, poverty eradication, healthcare, and education, especially for the poor and underprivileged.
He had also described the reported demolition of businesses and residences in the designated right of way for the project as insensitive and heart-wrenching, lamenting that livelihoods were being wiped away, lifetime investments wasted, and jobs disappearing as a result of the demolition.
In a post on his X handle on Tuesday, the former Anambra State governor said: “The outcry against this project has been overwhelming due to the current situation in the country. However, reports as of yesterday indicate that demolition of businesses and residences in the designated right of way for the project has commenced from the Lagos end.
“The sight of this insensitive demolition is heart-wrenching. Livelihoods are being wiped away, lifetime investments are being wasted, and jobs are disappearing as bulldozers roar through. The homes of the elderly are being overturned by the power of bulldozers.
“This hasty flag-off defies the widespread outcry by the public, especially business and property owners directly affected by the project. Nobody knows the outcry that will accompany this project as it progresses towards poor rural landscapes.
“Thousands of jobs are about to be lost, with investments above $200 million at risk. Over 100,000 jobs in the leisure and hospitality sector face imminent extinction, along with 80 small businesses and their 4000 mostly youth employees.”
However, Umahi insisted there was no inhumanity meted to Landmark and that the matter should be buried because he was actively involved.
The former Ebonyi State Governor alleged that Obi goes around to condemn people, thereby bringing judgment upon himself.
He said: “It brings to some of the comments made by my brother, his Excellency Mr Peter Obi, I am not supposed to comment about it because some people have already done the work. And I know what Arise Television brought courtesy of Channels Television, they were bringing similar scenarios when His Excellency Peter Obi was the governor. He made a statement saying ”Any infrastructure that stands in the way of the road must go. And there would be no compensation paid.” That’s what he said.
“But look at me, by the human face of the renewed hope agenda administration, we are even paying for people who are illegally staying on the coastal line, and don’t have valid infrastructure and valid documents. That is mercy, that’s mercy… You know some people darken counsel without knowledge. You know there’s the devil in the details.
“When you condemn people, you bring judgment upon yourself. And that is what he (Obi) has done. And I think he’s inciting some of the south east people that are not well informed. He is inciting them. And gets them into trouble. And he doesn’t go to fight for them. Wisdom is a defence. And I want our people to have wisdom because I am involved.
“There’s is no inhumanity meted to Landmark, that matters should be buried because I was there. And so we fought everything possible. Even some people donated property to save his two big infrastructures. That’s appreciation. But some people have taken sides along with him to play politics.

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Embrace the Tariff Increase or Prepare for Complete Power Outages – Minister of power, Adebayo Adelabu Cautions Nigerians

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The Minister of Power, Adebayo Adelabu, issued a caution on Monday, stating that if the planned increase in electricity tariffs is not put into effect, the nation will face a complete power outage within the next three months.

The minister revealed this information yesterday in Abuja during his appearance before the Senate Committee on Power for an inquiry into the recent electricity tariff increase by the Nigerian Electricity Regulatory

He said, “The entire sector will be grounded if we don’t increase the tariff. With what we have now in the next three months, the entire country will be in darkness if we don’t increase tariffs.

“The increment will catapult us to the next level. We are also Nigerians, we are also feeling the impact.”

“For this sector to be revived, the government needs to spend nothing less than 10 billion dollars annually in the next 10 years.

Meanwhile, While the minister was at the National Assembly Nepa took the light.

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Man Disappointed Odumeje Failed To Display Famous ‘Power’ At London Meeting

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A UK-Based Nigerian, Agu Chigekwu, identified on Instagram as richjoelng, recently called out popular Nigerian Pastor, Chukwuemeka Ohanaemere, better known as Odumeje, for failing to pray for members of the congregation at a recent event in London.

Chigekwu stated that he attended the event expecting to see Odumeje perform miracles and pray.

He said he was, however, left disappointed after Odumeje only sang and then left without praying for anyone.

He said, “When he came, he was already advertising powers, abidoshaker , citadel, he will release powers and the one he has not touched. Na so people take come o, filled the place . People came out!”

He explained that the programme was scheduled to start at 5:30pm, but Odumeje did not arrive until 10:30 pm and. When he finally came, he started singing, and the audience thought he would begin praying afterward.

” He dey sing o, as he finish singing, people kon think say he go pray, before we knew it, Odumeje don disappear ,” he added.

Chigekwu questioned whether Odumeje was a pastor or an artiste, stating that people came from all over the UK with their sick loved ones in hopes of receiving healing prayers from Odumeje.

He added, ” Odumeje na pastor abi na artist? Is he a performer? So, na performance he come do for us all the way from Nigeria. No be even to pray for people.

“People came all the way from Scotland, Wales, different parts of UK. Some came with their sick ones, old women, for him to pray for healing. Na so Odumeje take do this thing; he no pray for anybody.”

He also stated that some people even paid for front-row seats specifically to get prayed for by Odumeje.

“This guy disappointed me. Thank God, I did not even buy that ticket. People paid £1,000, £500, to stay at the front seat because they needed healing.

“They think say after he don sing, he go pray. Make dem see the powers that this man carry . All those citadel, indaboski bahose , and all those kind of things ,” he added.

In a separate video, Chigekwu clarified that he did not intend to criticise Odumeje but rather wanted to raise concerns about the event.

He said the promoters did not properly inform attendees about the purpose of the event, and he only learned later that Odumeje was actually there for an album launch.

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