Obasempire reports that the Lagos State Police Command has announced that it is currently not detaining anyone for taking part in the ongoing demonstration against difficulties in the state.
The command’s spokesperson, Benjamin Hundeyin, mentioned this during an interview with the News Agency of Nigeria on Friday in Lagos, indicating that no demonstrator is in their custody.
“All protesters arrested on Thursday were released same Thursday.
“The Commissioner of Police in Lagos State, Adegoke Fayoade, called the State CID to order for their release,” he said.
One of those leading the protests, Inibehe Effiong, had told the gathering at Gani Fawehinmi Park that no fewer than 12 protesters were arrested on Thursday.
Effiong, however, later corroborated the police spokesperson’s claim that all those arrested had been released.
He commended the police and other security agents for their professional handling of the protest in the state.
The #EndBadGovernanceInNigeria protesters on Friday gathered in front of Park in Ojota for the second day.
The incident took place on Friday, August 2, during the second day of ongoing protests against poor governance, economic hardship, and hunger.
Eyewitnesses reported that chaos ensued when the police began firing at the protesters. In the confusion, one officer was struck by bullets from other officers. The wounded officer was found lying in a pool of blood amid a distressed crowd.
The protests, part of the #EndBadGovernance movement, have attracted considerable attention as citizens nationwide voice their dissatisfaction with the current conditions. Demonstrators have been demanding improved governance, economic reforms, and solutions to widespread hunger.
The incident in Katsina has intensified the strain between law enforcement and the public. Videos of the tragic event have spread widely on social media, leading to outrage and criticism of the police’s conduct.
Many have condemned the officers’ unprofessional behavior and called for accountability and better training for those managing public demonstrations.
Despite the tragic event, protesters have remained steadfast in their calls for change. The #EndBadGovernance protests continue to gain momentum, with participants urging the government to tackle the urgent issues facing the nation.
Obasempire reports that the Minister of Information and National Orientation, Mohammed Idris, has disclosed that the Federal Government has yet to announce the locations for purchasing the ₦40,000 rice due to concerns about potential takeover and hoarding by affluent individuals.
Idris clarified that the government has set up various centers nationwide for acquiring 50kg bags of rice at ₦40,000, as part of President Bola Tinubu’s administration’s initiatives to enhance living standards for citizens.
In a press conference at the Radio House in Abuja, Idris affirmed that the rice is available and is currently being distributed to various states. However, due to security concerns, specific routes and schedules for distribution cannot be revealed at this moment.
He emphasized, “The distribution process is underway, but for security reasons, we cannot specify the exact routes and times. The rice will be sold at ₦40,000 and is being made available at various points nationwide. We are taking measures to prevent it from being monopolized by those with financial resources, ensuring that the intended beneficiaries receive it.”
Obasempire reports that the Federal Executive Council (FEC), led by President Bola Tinubu, has authorized the sale of crude oil to local refineries, including the Dangote Refinery, in naira.
The move aims to decrease Nigeria’s reliance on the U.S. dollar and strengthen the local currency.
Zacch Adedeji, the Executive Chairman of the Federal Inland Revenue Service (FIRS), revealed the decision after the FEC meeting on Monday.
He noted that President Tinubu has directed the Nigerian National Petroleum Corporation (NNPC) Limited to execute this directive without delay.
Adedeji said: “The attitude of Mr President is thinking outside the box to solve Nigeria’s problem and actually to localised the solutions to Nigeria’s problem.
“He has approved through the Council that effective immediately, that NNPC get engaged with local refineries and we are starting that with Dangote Refinery. That the sales of crude oil to Dangote Refinery be denominated in naria and also the sales of byproducts from Dangote Refinery to distributors also be conducted in naira.
“And what does it mean to our economy? One, the pressure on foreign exchange will be reduced.
“President Tinubu is committed to innovative solutions for Nigeria’s challenges and this move to sell crude oil in naira to local refineries exemplifies this approach,” Adedeji stated. “Adedeji explained the economic implications of this decision.
Currently, Nigeria spends between 30% to 40% of its foreign exchange on importing petroleum products. “We spend approximately $660 million monthly, which amounts to $7.92 billion annually,”
he noted. “With this new policy, we anticipate a reduction of at least 90% in these costs. Transactions in naira will stabilize the pump price and reduce our reliance on foreign exchange fluctuations.”
The shift to naira-based transactions is expected to save Nigeria significant foreign exchange.
“The approval by FEC will reduce our monthly foreign exchange expenditure from $660 million to a maximum of $50 million, resulting in annual savings of $7.32 billion,” Adedeji highlighted.
“This will also decrease finance costs associated with opening letters of credit, which currently amount to $79 million.”
Furthermore, the FEC has approved Afreximbank as the lead arranger for transactions between the NNPC and the Dangote Refinery. This partnership is seen as a crucial step in ensuring the smooth implementation of the new policy.
“This policy is a major innovation in addressing Nigeria’s economic challenges,” Adedeji emphasised.
“It will not only create more employment opportunities but also ensure greater control over one of the mainstays of our economy. We congratulate President Tinubu, the FEC, the NNPC, Dangote Refinery, and Afreximbank for their roles in making this transformative initiative a reality.”
The move is expected to enhance economic stability by reducing the pressure on foreign exchange and supporting the local currency, marking a significant step towards solving Nigeria’s economic problems permanently.
Igboho emphasised that the Yoruba Nation has no intention of joining the protest, stating, “While the right to peaceful protest is enshrined in our Constitution, it does not extend to calls for an unconstitutional regime change.”
He further explained that during President Buhari’s tenure, there were no protests from the Southwest for regime change, even in the face of oppression and atrocities.
He said the focus of their protests has always been on protecting their communities, not destabilising the country.
“I and the Yoruba Nation Movement firmly declared that we will not participate in any protest aimed at using the Southwest as a battleground for political upheaval,” Igboho, said, affirming that the Yoruba Nation will not be a launchpad for disintegrating Nigeria.
Igboho also highlighted that economic hardship is a global issue and acknowledged the efforts of the government in reducing food prices and increasing the minimum wage.
He called on all Yoruba people and well-meaning Nigerians to reject what he described as politically motivated protest.
“The Yoruba Nation unequivocally opposes any such protests and believes that President Tinubu should be allowed to complete his term in office,” Igboho said, emphasizing that the path to change lies in democratic processes, either through the ballot box or a referendum.
Igboho urged their members and the broader community to resist the temptation to participate in these protests, as they do not serve the interests of the Yoruba people or the nation as a whole.
He also issued a strong warning against any individuals or groups attempting to instigate violence under the guise of these protests, stating that they will firmly resist and stay off the streets during the designated protest days and in the future.
Obasempire reports that President Bola Tinubu has approved a new directive to advance crude oil trade using the local currency.
The Chairman of the Federal Inland Revenue Service (FIRS), Zacchaeus Adedeji, revealed this to State House reporters on Monday, following the Federal Executive Council (FEC) meeting at the Presidential Villa in Abuja.
He stated that, effective immediately, the Nigerian National Petroleum Company (NNPC) Limited will conduct transactions with local refineries in Naira.
This policy also applies to the sale of crude oil to Dangote Refinery, with Dangote’s subsequent product sales to be carried out in Naira.
Adedeji explained that the initiative aims to reduce the heavy dependence on foreign exchange for crude oil imports, which currently represents about 30 to 40 percent of Nigeria’s forex spending.
The FIRS Chairman added that by denominating transactions in Naira, the Federal Government hopes to significantly lessen the forex burden, projecting annual savings of approximately $7.3 billion.
He emphasized that the shift is expected to stabilize domestic crude oil prices by minimizing the effects of forex fluctuations and alleviate pressure on Nigeria’s foreign exchange reserves, reducing monthly forex expenditure from $50 million to roughly $600 million.
Afreximbank has been chosen as the pilot settlement bank to implement the transactions.
Obasempire reports that the Ogun State Police Command has detained a 25-year-old woman, known as Yetunde Gbadebo, for attempting to sell her three-year-old daughter on Aladiye Street in Sagamu.
Our correspondent learned on Sunday that the incident occurred around 10:00 AM on July 25, 2024.
A report from a police source at the command indicated that the suspect was apprehended while bargaining a N700,000 price for the child with a 38-year-old man named Sunday None.
A team of police investigators from the Sagamu Division raided the area after a resident reported seeing the two during the negotiation.
During questioning, the spokesperson for the command, Omolola Odutola, revealed that Gbadebo denied the accusation, while None admitted to the offense.
She said, “The woman was about to sell her three-year-old daughter to another suspect. A resident who saw the two suspects negotiating the price approached our station in Sagamu to report what she saw.
Obasempire reports that numerous depots for Premium Motor Spirit, commonly known as petrol, are currently empty, causing fuel shortages and long lines in Lagos, Ogun, parts of Abuja, Niger, and other states nationwide.
It has been reported that black marketers are exploiting the situation, charging up to N1,300 per litre and N1,500 per litre in some areas of Lagos and Ogun states.
Extended queues began forming at fuel stations in Abuja and Lagos on Friday and continue to this day.
On Saturday, in response to the ongoing queues and shortages in various regions, the Nigerian National Petroleum Company Limited stated that the supply and distribution issues were due to a problem with the discharge operations of several vessels.
“The NNPC Ltd wishes to state that the tightness in fuel supply and distribution witnessed in some parts of Lagos and the FCT is as a result of a hitch in the discharge operations of a couple of vessels,” the NNPC Chief Corporate Communications Officer, Olufemi Soneye, said.
The company added that it was “working round the clock with all stakeholders to resolve the situation and restore normalcy in the operations.”
Obasempire reports that Osun State Governor, Adetola Adeleke, has endorsed the traditional method of controlling food prices recently introduced by some local rulers in the state.
Governor Adeleke has instructed the Food Security Implementation Committee to accelerate efforts to ensure a stable and accessible food supply chain. He characterized the traditional rulers’ method as “a local initiative to combat rising food inflation throughout the state.”
Reports indicate that the Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, has instructed vendors in Ife to lower food prices and dissolved the market vendors’ association in the region.
Similarly, the Oluwo of Iwo land, Oba Abdulrosheed Adewale Akanbi, has mandated a reduction in food prices across the three local government areas of Iwo land.
In a statement released on Friday by his spokesperson, Olawale Rasheed, Governor Adeleke urged the State Food Security Implementation Committee to act promptly. He expressed approval of the traditional rulers’ efforts to regulate food prices and address the exploitative practices of middlemen in markets.
Governor Adeleke criticized the artificial inflation caused by market intermediaries and praised the traditional rulers, led by the Ooni of Ife, for dismantling market associations that contributed to high food prices.
According to the Governor, “the actions of most members of the Osun State Council of Traditional Rulers on price control have assisted the government in its quest to address food insecurity in Osun State.”
He praised the traditional rulers for impressing upon market leaders the need to avoid unnecessary price increases and called on all other traditional rulers in Osun State to emulate the actions of the royal fathers at Ile Ife, Ede, Igbajo, Iwo, and other areas.
“I task our royal fathers to engage market associations and stop the exploitation of our people. I read the report of the initiative by the Ooni of Ife. I also read of similar actions by the Oluwo of Iwoland and the Timi of Ede Land. This approach should be adopted by all royal fathers.
“I am also directing my Special Adviser on Markets to move quickly to support our royal fathers in this new drive to institute traditional price control. The Iyalojas and Babalojas should be integrated into the implementation process.”
Meanwhile, Governor Adeleke also tasked the Committee on Food Security Implementation to quickly come up with actionable plans, deliverables, and timelines, noting that food security is a matter demanding urgent attention.
“The Committee is composed of tested experts. It is time for action. We already have a well-thought-out food security report. We only need a roadmap to execution.
“I commend the Commissioner for Agriculture for rising to the occasion on our agro-industrialization agenda. We have started with the supply of tractors, which I will be unveiling at a ceremony soon. We have embraced traditional price control through our traditional rulers.
“We must implement a holistic agenda which addresses all segments of the agricultural value chains. That is what we have in our Food Security Committee report, and the actualization is what I demand from the implementation committee,” the state Governor declared.
Obasempire reports that Chief Camilus Amajuoyi, the President General of Alaba International Market in Ojo Lagos, has declared that the market’s members will abstain from the upcoming nationwide demonstrations.
He explained that this choice is not due to ignorance of the current severe economic conditions but rather from the view that large-scale protests might not be the most suitable remedy at this moment.
Amajuoyi stressed that many vendors in the market depend on daily earnings and cannot afford to halt their business operations.
He noted that the informal sector, which encompasses numerous market participants, has been significantly impacted by the tripling expenses of running a business, without any governmental support, incentives, or interest-free loans to ease their difficulties.
Nevertheless, he voiced his trust in President Bola Ahmed Tinubu’s capability to tackle the country’s urgent issues.
“The fluctuating exchange rates and high costs of duties at national ports, coupled with increased transportation expenses, have made it nearly impossible for business owners to plan effectively. These factors have contributed to the sharp rise in the prices of goods and services across the country.
“These are realities staring Nigerians in the face, from the North, East west and South of the nation. Even at that, we members of Alaba International market unequivocally state that we are not going to partake in any planned protest in Nigeria, we are not closing our market in solidarity with any group or persons with regard to any protest.
“We believe that President Bola Ahmed Tinubu will definitely find a lasting solution to the numerous challenges facing Nigerians now, ranging from insecurity, high cost of food, drugs, transportation, bad roads, corruption among other things,” Amajuoyi said.
Amajuoyi however decried the perilous state of the only access road to Alaba International Market, which has caused numerous accidents involving heavy-duty trucks.
Obasempire reports that Chief Camilus Amajuoyi, the President General of Alaba International Market in Ojo Lagos, has declared that the market’s members will abstain from the upcoming nationwide demonstrations.
He explained that this choice is not due to ignorance of the current severe economic conditions but rather from the view that large-scale protests might not be the most suitable remedy at this moment.
Amajuoyi stressed that many vendors in the market depend on daily earnings and cannot afford to halt their business operations.
He noted that the informal sector, which encompasses numerous market participants, has been significantly impacted by the tripling expenses of running a business, without any governmental support, incentives, or interest-free loans to ease their difficulties.
Nevertheless, he voiced his trust in President Bola Ahmed Tinubu’s capability to tackle the country’s urgent issues.
“The fluctuating exchange rates and high costs of duties at national ports, coupled with increased transportation expenses, have made it nearly impossible for business owners to plan effectively. These factors have contributed to the sharp rise in the prices of goods and services across the country.
“These are realities staring Nigerians in the face, from the North, East west and South of the nation. Even at that, we members of Alaba International market unequivocally state that we are not going to partake in any planned protest in Nigeria, we are not closing our market in solidarity with any group or persons with regard to any protest.
“We believe that President Bola Ahmed Tinubu will definitely find a lasting solution to the numerous challenges facing Nigerians now, ranging from insecurity, high cost of food, drugs, transportation, bad roads, corruption among other things,” Amajuoyi said.
Amajuoyi however decried the perilous state of the only access road to Alaba International Market, which has caused numerous accidents involving heavy-duty trucks.
He urged the Lagos State government to prioritize the repair of this critical route and focus on other projects that could significantly reduce the suffering of the masses.
He also warned potential protesters to stay away from Alaba International Market to prevent any looting or damage to goods.
He called on the Lagos State government, Nigerian police, military, DSS, and other security agencies to ensure that all market places are protected from criminal elements.
He urged the Lagos State government to prioritize the repair of this critical route and focus on other projects that could significantly reduce the suffering of the masses.
He also warned potential protesters to stay away from Alaba International Market to prevent any looting or damage to goods.
He called on the Lagos State government, Nigerian police, military, DSS, and other security agencies to ensure that all market places are protected from criminal elements.
