Latest
Dangote Opposition to 30 per cent Interest Rate Proves Me Right – Peter Obi
![](https://spazr.com.ng/wp-content/uploads/2024/07/Dangote-Opposition-to-30-per-cent-Interest-Rate-Proves-Me.jpg)
Former presidential candidate of the Labour Party (LP), Mr. Peter Obi, has reacted after Aliko Dangote slammed the federal government over its decision to hike interest rate to 30 per cent.
Dangote had said such a move will chase away investors planning to invest in the country.
Obi had argued against the decision of the Monetary Policy Committee to increase the Monetary Policy Rate (MPR) and the Cash Reserve Ratio (CRR) to 22.5% and 45%, respectively.
He insisted it would further worsen the economic situation, as the increases would push interest rates on loans to above 30%, which, according to him, would make it very difficult for manufacturers and MSMEs to borrow and repay.
In a statement on Thursday via his X handle, Obi said that Africa’s foremost entrepreneur and respected Nigerian businessman, Aliko Dangote, stating that no jobs will be created with such a high interest rate is consistent with his own position over time.
The former Anambra State governor maintained that the country must urgently reverse the ugly trend.
According to him, it is seriously resulting in further job losses, discouraging production in the nation, and has continued to hinder Nigeria’s movement from consumption to production.
Obi’s words: “Africa’s foremost entrepreneur and respected Nigerian businessman, Aliko Dangote’s recent outcry against the current interest rate of 30% underscores my earlier cry in February on the negative effects of the monetary policy of the present Federal Government.
“According to Dangote, no jobs will be created with such a high interest rate because there will be no growth in the economy. This has been my consistent position over time.
“In February this year, I argued against the decision of the Monetary Policy Committee to increase the MPR to 22.5% and the CRR to 45%, which, in my opinion, would further worsen the economic situation, as the increases would push interest rates on loans to above 30%, making it very difficult for manufacturers and MSMEs to borrow and repay.
“If Dangote, the richest person in Africa and foremost industrialist, can complain, then imagine the negative impacts of these policies on MSMEs, who are the engine of economic growth.
“To further understand the harsh economic environment that this monetary policy has exacerbated, the recent report from the Manufacturing Association of Nigeria (MAN) stated: ‘In 2023, 767 companies were shut down and 335 became distressed.
“The capacity utilization in the sector has declined to 56%; the interest rate is effectively above 30%; foreign exchange to import raw materials and production machines is scarce; inventory of unsold finished products has increased to N350 billion; and the real growth rate has dropped to 2.4%.
“These harsh economic policies, both on the monetary and fiscal sides, have continued to slow down our economic growth, drive multinationals out of the country, stifle our small businesses, and discourage the inflow of foreign direct investment.
“Again, I maintain that we must urgently reverse this ugly trend which is seriously resulting in further job losses, discouraging production in our nation, and has continued to hinder our movement from consumption to production.
“We need to reverse course and only initiate policies that can lead to growth and the birth of a new Nigeria.
“A New Nigeria is Possible.”
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
I Never Said Tinubu Has Increased Corps Members’ Allowance – DG
![](https://spazr.com.ng/wp-content/uploads/2024/07/I-Never-Said-Tinubu-Has-Increased-Corps-Members-Allowance-–.jpg)
The National Youth Service Corps, NYSC, Director General, Brigadier General YD Ahmed has debunked reports quoting him as saying that the government has increased allowance of youth corpers.
He made the denial on Sunday at the Ogun State Orientation Camp in Sagamu.
The Scheme, according to a statement signed by Eddy Megwa Director, Information and Public Relations, clarified that General Ahmed, while addressing corps members, he said it is expected that they would benefit from the minimum wage when it is approved.
The NYSC said its director did not say “the President has approved any increment in corps members’ allowance.”
Meanwhile, as part of his oversight functions during orientation periods, the Director General advised the corps members on different issues relating to patriotism, entrepreneurship, security consciousness, community development among other issues of youth development for leadership roles.
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
Aside Wigs, Makeup, Others, I Don’t Know Prices of Anything – Doyin
![](https://spazr.com.ng/wp-content/uploads/2024/07/Aside-wigs-makeup-others-I-dont-know-prices-of-anything.jpg)
BBNaija star, Doyin David has claimed that she doesn’t know the cost of living in Nigeria.
According to her, she relies on others for tasks like shopping.
She stated this in a recent interview with media personality Olufemi Daniel on his podcast.
Doyin revealed that she doesn’t know the price of anything in Nigeria.
Although she doesn’t go to the market herself, she expressed empathy for Nigerians dealing with economic hardships.
She recounted a visit to the market where she was moved to tears by the struggles of ordinary Nigerians.
“I am the most detached Nigerian you can ever meet. I don’t even know what is happening. I don’t know the price of anything. I don’t go to the market. I send my chef, and they don’t tell me what the price is.”
“I hear there’s hardship in the country, and I sympathise with Nigerians. I’m sure that it’s tough. I know because wigs are more expensive. Makeup, nails, cars, houses—everything is more expensive. Those things I know. But I’m not really into tomatoes. I’m sure food is expensive.”
“It’s sad because people are suffering. I also went to the market one time in Ogba, and I cried that day because I saw how people were suffering. People were reacting to N50,000 like it was N5 million. That shows how badly people are suffering,”
“It’s very sad. We hope that we’ll have a country one day where the average Nigerian can at least feed. That should be the basics. But we are not there yet. I hope we get there one day. I don’t want to talk about politics because I don’t really know much about politics.”
“I just think Nigeria is a shithole with this kind of leadership. The issue is that the people that are obligated to care about us don’t care about us. I don’t know that there would be a solution anytime soon. So I tell people ‘Do your best to fend for yourself and family and if you have the opportunity to relocate abroad, do,’”
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
Troops Eliminate 11 ISWAP Terrorists In Sambisa Forest, Capture Weapons
![](https://spazr.com.ng/wp-content/uploads/2024/07/Troops-Eliminate-11-ISWAP-Terrorists-In-Sambisa-Forest-Capture-Weapons.jpg)
Eleven members of the Islamic State’s West Africa Province, ISWAP, have been eliminated by the Nigerian Army in an identified terrorists’ enclave in Jongo Village within Sambisa Forest.
The suspected terrorists were tracked down and killed by the troops deployed for a special clearance operation in Sambisa Forest, in a coordinated effort with a hybrid force.
The Army in a statement on Sunday, July 7, 2024, said the troops targeting the terrorists’ enclave made contact with the terrorists, engaging them in a fierce gun battle, which resulted in the elimination of the terrorists, while others fled in disarray.
“The troops further conducted exploitation ahead of the enclave, leading to the capture of some arms. The arms include 99 rounds of 7.62 x 54mm on metal link, 19 rounds of 7.62 x 39mm, 3 AK-47 rifle magazines, two 36 Hand grenades, and 2 locally made guns,” the statement read.
“This successful operation showcases the operational effectiveness of the Nigerian Army in combating terrorism and securing in the region
“The neutralization of ISWAP terrorists and the confiscation of their weapons will undoubtedly contribute to enhancing security and stability in the area, further demonstrating the commitment of the Nigerian military to eradicating terrorism and protecting the citizens.”
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
It’s Insulting to Say I’m Not on Same Level With Wizkid, Davido, Burna Boy – Rema
![](https://spazr.com.ng/wp-content/uploads/2024/07/Its-Insulting-to-Say-Im-Not-on-Same-Level-With.jpeg)
Nigerian singer Divine Ikubor, aka Rema has slammed those who say that he’s not on the same level with Wizkid, Davido and Burna Boy.
Rema spoke while addressing the backlash that trailed his controversial tweet; “No more Big 3 there’s now a Big 4” in his new song ‘Hehehe,’ which was released via Mavin Global Holdings on Monday morning.
Burna Boy, Wizkid and Davido are widely regarded as the biggest Nigerian/Afrobeats artists in the world and are jointly referred to as the “Big 3.”
But Rema has been insisting that he is now on the Afrobeats megastar list, making it a “Big 4.”
He sings: “No more big 3, there’s now a big 4. People go para but what for? Dem go say I don’t deserve it but that is an insult.”
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
Your Prophecies Not From God – Nnamdi Kanu’s Family Issues Warning to Primate Ayodele
![](https://spazr.com.ng/wp-content/uploads/2024/07/Your-Prophecies-Not-From-God-–-Nnamdi-Kanus-Family-Issues.jpg)
The family of Nnamdi Kanu, leader of the Indigenous People of Biafra has issued a warning to the Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele.
The family warned him to steer clear of the case of Nnamdi Kanu, leader of the Indigenous People of Biafra, IPOB.
Kanu’s younger brother, Kanunta Kanu, gave the warning in a statement on Sunday while reacting to a supposed prophecy recently released by the clergy regarding Kanu’s continuous incarceration by the Department of State Services, DSS.
Recall that Primate Ayodele, during the launch of his 30th “Warning to the Nations” at his church in Lagos, said that “Kanu should beg the government before he is released or else he will die in jail.”
However, piqued by the comment, Kanu’s family asked the clergy to focus on his church and stop making provocative utterances against their son.
The family claimed that Ayodele’s prophecies have nothing to do with God, asking the clergy to stop using their son’s name “to seek public attention and draw traffic.”
According to the statement, the “God whose mouthpiece Ayodele is claiming to be is a God of justice who does not punish the innocent.”
“Ayodele should be courageous enough to tell the world what God said about the murderous invasion of our family home that resulted in the death of our parents and the murder of 28 other innocent visitors to our home.
“The righteous God I know cannot count the masterminds of this atrocity guiltless and hold their victims accountable,” the statement added.
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
Atiku, Peter Obi, Kwankwaso, El-Rufai Must Unite Against Tinubu – APC Chieftain
![](https://spazr.com.ng/wp-content/uploads/2024/07/Atiku-Peter-Obi-Kwankwaso-El-Rufai-Must-Unite-Against-Tinubu-–.jpg)
A former National Vice Chairman, North-West, of the ruling All Progressives Congress (APC), Salihu Lukman has sent a messge to the 2023 presidential candidates of the Peoples Democratic Party (PDP), Atiku Abubakar; New Nigeria Peoples Party (NNPP), Rabiu Kwankwaso; Labour Party, Peter Obi; as well as Nasir El-Rufai and former Vice President Yemi Osinbajo.
He urged them to unite to remove President Bola Tinubu in 2027.
Lukman lamented that given the advanced stage of ‘state capture’ at the federal level, political leaders like Atiku, Obi, Kwankwaso, Osinbajo, and others have been operating in isolation from one another.
In a statement he signed, Lukman said Osinbajo, Rotimi Amaechi, Kayode Fayemi, Ibikunle Amosun, El-Rufai, Ogbeni Rauf Aregbesola, and others, who are more like political orphans due to their exclusion from President Tinubu’s administration, have been pushed to the peripheral edges of Nigerian politics.
He said: “Political leaders in Nigeria, notably Alhaji Atiku Abubakar, Mr. Peter Obi, Sen. Rabiu Musa Kwankwaso, Prof. Yemi Osinbajo, Chief Rotimi Amaechi, Dr. Kayode Fayemi, Sen. Ibikunle Amosun, Mallam Nasir El-Rufai, Ogbeni Rauf Aregbesola, and others, must answer the question as to whether they want to allow their narrow political ambitions to continue blocking the path to the democratic development of Nigeria.
“Or, why shouldn’t they aspire to register their names as political leaders who were able to rise to the occasion in Nigeria’s hour of national need by coming together to forge a united political front, which could transform Nigeria’s democracy and reverse the phenomenon of ‘state capture’ that produced ‘small corrupt groups’ of used ‘government officials’ who are appropriating ‘government decision-making to strengthen their own economic positions’?
“Although there are some indicative political activities taking place around some of these political leaders, it has not graduated to the level of commitment to build the kind of strong political parties capable of threatening the APC and President Asiwaju Tinubu, which is needed to guarantee the future of Nigerian democracy.
“What were the failings of the PDP? The failings of the PDP are reflected in the same way today’s challenges are manifesting. If the truth is to be told, whatever were the failings of the PDP in 2015, they were less grievous than what it has become under the APC in 2024.”
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
Pro-Fubara, Wike Lawmakers Hold Parallel Sittings Today
![](https://spazr.com.ng/wp-content/uploads/2024/07/Pro-Fubara-Wike-Lawmakers-Hold-Parallel-Sittings-Today.jpg)
The two factions of the Rivers State House of Assembly are set to hold parallel sittings this morning.
On Sunday night, the Victor Oko-Jumbo-led House loyal to the State Governor, Siminalayi Fubara had in a letter by the Clerk, Dr G. M Gillis-West, invited a new commissioner-nominee, Emmanuel Frank-Fubara, to appear before it on Monday for screening and confirmation as a member box the State Executive Council.
Meanwhile, the Martin Amaewhule-led House loyal to the Minister of the Federal Capital Territory, Nyesom Wike, will also hold plenary today.
While the pro-Fubara lawmakers will hold it a string in an improvised Hallowed Chamber in the Government House, Port Harcourt, the pro-Wike legislators sit at the State Assembly official quarters along Aba Road, also in the metropolis.
Both factions will sit by 10 am today (Monday).
Though it is not clear what the Amaewhule-led lawmakers will deliberate on, it will be their first sitting since the Court of Appeal judgement recognised the pro-Wike lawmakers as members of the House.
The lawmakers may among others, discuss the issue of the 23 local government councils in the state, which has been barricaded by the police for over two weeks in the wake of the crisis that greeted the tenure of the then Local Government Chairmen.
Recall that the State House of Assembly Complex located along Moscow Road, Port Harcourt was bombed in October 2023, following an attempt by 27 lawmakers loyal to the FCT Minister to impeach Fubara.
The pro-Wike lawmakers later during plenary announced their defection from the Peoples Democratic Party to the All Progressives Congress as the political crisis in the state deepened following the feud between Fubara and Wike.
The status of the 27 lawmakers is now a subject of litigation as the Court is expected to determine their faith.
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
I Can Bring Bible to The Table in My Relationship – DJ Cuppy
![](https://spazr.com.ng/wp-content/uploads/2024/07/I-Can-Bring-Bible-to-The-Table-in-My-Relationship.jpg)
Nigerian disk jockey, Florence Otedola, popularly known as DJ Cuppy, has revealed what she brings to the table in a relationship.
Cuppy who recently got baptised at a UK Church, said the Holy Bible is what she brings to the table.
She disclosed this while joining the viral social media ‘What do you bring to the table’ challenge, which implies what a partner can offer in a relationship or marriage.
On her X handle, Cuppy shared: “‘What do you bring to the table?’
“Me: Holy Bible.”
The music star recently shared updates on her spiritual growth with fans.
She explained that embracing her faith has made her realise that being beautiful is more than just an outward appearance.
According to her, true beauty is about inner peace, purpose, and self-worth.
DJ Cuppy is publicly known to be single at the moment.
Her most recent relationship was her failed engagement to British boxer, Ryan Taylor.
The duo parted ways in July 2023, barely seven months after their shocking engagement in November 2022.
Cuppy has been vocal about her desire to find her “true love,” saying being “single and childless” in her 30s is “lonely and boring.”
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
Woman, 7-Year-Old Daughter Dead, Others Injured In Ogun Gas Explosion
![](https://spazr.com.ng/wp-content/uploads/2024/07/Woman-7-Year-Old-Daughter-Dead-Others-Injured-In-Ogun-Gas-Explosion.jpg)
A 40-year-old woman, Rafiat Sheriff, and her seven-year-old daughter, Asisat, have been confirmed dead after a gas explosion rocked a residence situated on Church Street, beside Ebute Road, in the Ibafo region of Ogun State, last weekend.
It was learnt that the tragic event took place around 8:30 pm on a Saturday night, injuring two others.
The spokesperson of the Ogun State Police Command, Omolola Odutola, has confirmed the occurrence of the incident, stating that it happened Saturday night when the mother instructed her seven-year-old daughter to prepare a meal.
“The girl was attempting to light up the gas cylinder when the entire house went up in flames.
“The mother and the child lost their lives in the explosion. Two other girls, including one of the children of the deceased, are currently receiving treatment in the hospital,” the police spokesperson noted.
Barely two weeks ago, over a hundred houses reportedly suffered unfortunate destruction in a cooking gas explosion which rocked Jamata, a neighbourhood within the Lokoja Local Government Area of Kogi State.
The explosion toppled structures and damaged properties valued at millions of naira.
Upon inspecting the impacted area, the Commissioner for Solid Minerals and Natural Resources in Kogi State, Bashir Abubakar Gegu, expressed sorrow over the damages and encouraged the residents to exercise caution when handling cooking gas.
“I am urging all and sundry to abide by the rules of gas usage. This accident is avoidable, but for negligence and failure to abide by the safety rules of the use of cooking gas, this happened,” the commissioner noted.
He promised the victims of the state government’s prompt and sustained assistance, allowing them to recover and continue with their business operations.
News about the Kogi explosion was reported hours after explosions were heard at the Dangote Group refinery located in Ibeju-Lekki, Lagos State.
The cause of the fire outbreak was not immediately ascertained.
However, it was gathered that workers at the Dangote Refinery immediately vacated the affected section to enable fire service officials to quench the raging fire.
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
Latest
Nigerian Army Has Schools For Both Islamic, Chaplaincy Affairs — Hqtrs
![](https://spazr.com.ng/wp-content/uploads/2024/07/Nigerian-Army-Has-Schools-For-Both-Islamic-Chaplaincy-Affairs-—.jpg)
The Nigerian Army has clarified that it has schools for Islamic and Christian affairs.
The army made the clarification while restating that the institution remains steadfast in its commitment to upholding the values of secularism and religious freedom, ensuring that all personnel can serve with dignity and respect for their individual beliefs.
Recall that a viral report suggesting that the Nigerian Army only runs a School of Islamic Affairs, ignoring other faiths.
Clarifying the report, Major General Onyema Nwachukwu, Director of Army Public Relations, in a statement on Monday, described the report as not only fake but also as making a futile effort to portray the Nigerian Army as exclusively encouraging religious bigotry among its personnel.
“Considering the gravity of this falsehood, the Nigerian Army wishes to categorically state that this propaganda in its entirety is dead on arrival as it clearly does not reflect the values of our esteemed institution,” the statement said.
“The Nigerian Army is a secular organisation that upholds the principle of religious freedom for all its personnel and ensures that personnel, irrespective of rank, are free to practice their religions without any form of bias or endorsement of a specific religion.
“Our unwavering commitment to secularism guarantees that religious diversity is respected and accommodated, allowing soldiers to observe their faith without hindrance to their duties.
“Our dedication to secularism is aimed at fostering a professional and inclusive environment where individuals can serve their country without fear of religious discrimination or bias.
“This approach ensures that all officers and soldiers can practice their beliefs in a supportive and respectful setting,” it added.
Discover more from SPAZR
Subscribe to get the latest posts sent to your email.
-
Latest2 days ago
Declare State Of Emergency On Hunger, Starvation – APC Chieftain, Oyintiloye Urges Tinubu
-
Latest2 days ago
Expect Political Coup Against Tinubu – Primate Ayodele
-
Latest3 days ago
Ebuka Obi-Uchendu’s Daughter, Jewel Bags Multiple Awards in School
-
Latest2 days ago
BREAKING: NDLEA Busts Cocaine Cartel In Lagos Raid, Arrests Couple, Seizes N2.1Billion Worth Of Cocaine (Photos)
-
Latest2 days ago
Return Diverted N30,000 Sallah Gift To Workers Or Face Serious Consequences – Sokoto Governor Warns Officials
-
Sports2 days ago
Euro 2024: Sutton predicts England vs Netherlands semi-final clash
-
Latest3 days ago
Ondo Amotekun Officers Injured In Clash With Suspected Herdsmen
-
Sports2 days ago
Euro 2024: Koeman reveals team he wants Netherlands to play in final
-
Latest3 days ago
Let Us Work Together to Build Brighter Future – Peter Obi Tells UK’s Keir Starmer
-
Latest3 days ago
Nigerian Lady Advertises ‘Husband Material’ Brother As He Helps With Laundry (Video)
-
Sports2 days ago
Euro 2024: England’s hero – Piers Morgan singles out one player after win over Switzerland
-
Latest3 days ago
Nigerian Singer, Timi Dakolo Reveals A Rule He Has For Himself
-
Latest3 days ago
Secondary School Teacher Commits Suicide, Leaves Note On How His Money Should Be Shared
-
Latest3 days ago
Four Declared Dead As Rescue Operation Ends In Anambra Market Collapsed Building
-
Latest3 days ago
NYSC DG Warns Corps Members Against Posting Camp Activities On Social Media
-
Latest2 hours ago
Atiku, Peter Obi, Kwankwaso, El-Rufai Must Unite Against Tinubu – APC Chieftain
-
Latest3 days ago
Nigerian Lady Attends Class In Heavy Rain, Finds Empty Classroom, But Gets Rewarded By Lecturer
-
Sports3 days ago
Transfer: Lazio sign Dele-Bashiru from Hatayspor
-
Sports3 days ago
EPL: Stay put – Michael Owen advises Chelsea star not to leave club
-
Latest3 days ago
This Is Not How To Handle Differences