The effect of food inflation on disposable income of many households and the recent incidents of flooding in key food-producing states in the North of the country and the resumption of United Arab Emirates dominate the headlines of Nigerian newspapers on Thursday.
The Guardian reports that with food inflation already spiraling out of control, thus putting pressure on disposable income of many households, the Lagos Chamber of Commerce and Industry (LCCI), has expressed concern over the recent incidents of flooding in key food-producing states in the North.
Noting that this may further put pressure on many Nigerians and spike inflation rate, the Chamber said the occurrence has wiped off food and cash crops on a large scale and disrupted output projections in agriculture.
It estimated that over two million tonnes of rice were reportedly lost to flood, while crops such as sorghum, corn, and millet were also affected.
LCCI President, Toki Mabogunje, during a press briefing on the state of the economy, said the rising inflation trajectory has serious implications for businesses regarding production cost, investment real return rate, and overall economic performance.
The Punch says that the United Arab Emirates has confirmed that it would begin the issuance of visas to Nigerians from Thursday (today), the Minister of Aviation, Hadi Sirika, announced on Wednesday.
Sirika had announced on September 30 that the UAE had written to state that it agreed to issue visas to Nigerians, a development that made the Federal Government lift the ban it had earlier placed on Emirates Airlines.
“UAE has written to state that they agree to issue visas to Nigerians, consequently decision has been reached to allow Emirates to fly into Nigeria,” the minister had tweeted.
He had further stated that the “commencement of the visa issuance is condition precedent.” Providing an update on the visa issuance matter with the UAE, the aviation minister tweeted again on Wednesday that the Arab nation had confirmed that it would start issuing visas to Nigerians. Sirika said, “UAE confirmed that they will begin issuance of visas from 8th of October, 2020. “Travelers to have a return ticket, hotel booking, negative PCR result and a health insurance (similar to Schengen requirement). “Health insurance can be paid through travel agents/airline.” The visa concern issuance between Nigerian and UAE had warranted the ban of Emirates Airlines from operating into Nigeria.
The Sun says that the Central Bank of Nigeria (CBN) will give the Zamfara State government N5 billion to supply gold to the apex bank, Governor Bello Muhammad Matawalle, has disclosed.
He said his administration had established a gold reserve for the state. “This strategic decision is part of the effort to prop up the economy of the state and guarantee the economic and social wellbeing of our people now and in the future.
It is also the first of its kind by any state in the federation. For a start, we have purchased 31 kilogramme of gold, wholly mined and refined by our artisanal miners. We will subsequently continue to buy gold from our local miners so as to gradually improve the reserve. The precious metal would be deposited in a bank.
“Even though our state like other states of the federation is grappling with competing demands from the public and the resources at our disposal are meagre, we feel it is of utmost significance to invest in the future of our people,” Matawalle said. He added that the recent collapse of the oil market had further shown the need to diversify the state’s economy as a safeguard from the uncertainties of the market.
The newspaper reports that some branches of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) on Wednesday commenced a three-day warning strike to protest the “shoddy” manner their members were included in the Integrated Payroll and Personnel Management System (IPPIS).
The staff members representing the Petroleum Products Pricing Regulatory Agency (PPPRA), Department of Petroleum Resource (DPR), Nigerian Nuclear Regulatory Authority (NNRA) and Petroleum Training Institute (PTI) gathered at PPPRA head office in Abuja, chanting solidarity songs. National Industrial Officer of PENGGASSAN, Mr Kelechi Ugwulor, told the News Agency of Nigeria (NAN) that the strike was informed by the clumsy manner in which the agencies were enrolled on the IPPIS.
Ugwulor said that, though the union supported all government’s effort to achieve transparency and accountability in government, it should not be to the detriment of the oil workers. “We are concerned with the ways our members in some government agencies are being treated with respect to IPPIS. “In the month of September, our members in NNRA had huge sums of money deducted from their salaries, and we have decided that enough is enough.
The Nation reports that the RURAL Electrification Agency (REA) requires over $2 billion to provide electricity for the 80 million Nigerians, who lack it. Its Managing Director, Mr. Salihijo Ahmad, who spoke at the REA-NASS workshop on Rural Electrification Programmes: Legislation, Implementation and Sustainability, in Abuja, said the agency has a funding gap of over $2 billion required to power 80 million Nigerians, who currently do not have access to electricity.
He sought a robust from budgeting in order to bridge the gap, noting that the agency has had a lot of appropriation support from 2016 to 2020.
He said the forum was to draw the attention of the lawmakers to the resources that the agency has so far received.
The REA chief said the workshop was to share the experiences of the agency with the Senators in or to have a greater impact by making the agency function better. Most of the programmes of the agency, said Ahmad, are designed to encourage private sector participation.
GIK/APA