Adopt quarterly exchange rate for Customs duty, economist advises FG – Newstrends
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Adopt quarterly exchange rate for Customs duty, economist advises FG

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Muda Yusuf

Adopt quarterly exchange rate for Customs duty, economist advises FG

The Centre for the Promotion of Private Enterprise (CPPE) has appealed to the Central Bank of Nigeria (CBN) to adopt a quarterly customs duty exchange rate to check high volatility in cargo clearing costs occasioned by the recent frequent changes in the rate.

Chief Executive Officer of CPPE, Dr. Muda Yusuf, who made the request in a statement made available to Vanguard yesterday, lamented that since the beginning of the year, the customs duty exchange rate have been changed more than 38 times, which according to him, has made it extremely difficult for investors to plan.

His words: “The frequent changes in the customs duty exchange rate have become a huge burden on the business community. This has led to high volatility in cargo clearing costs, worsening inflationary pressures and aggravating investment risk, especially in the real sector of the economy.  These frequent changes are profoundly detrimental to production, planning and other real sector activities in the Nigerian economy.

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“In the first quarter of this year, there were changes in the customs duty exchange rate twenty-eight times. In April, the frequency of changes would be close to ten times or even more. As at 1st May 2024, the rate has jumped to N1373.65/$.  It was less than N1200/$ few days before.

“It is extremely difficult for investors to plan under these unstable circumstances.  The situation has introduced an unprecedented level of uncertainty and unpredictability to the international trade dynamics. Investment risk has become elevated, planning has become difficult, risk management has become challenging and investors’ confidence is being weakened.

“CPPE appeals to CBN to adopt a framework to minimize volatility in the customs duty exchange rate in line with the commitment of the present administration to bolster investors’ confidence and drive economic growth.

“Such framework should adopt a quarterly customs duty exchange rate, after due consultation with the fiscal authorities. We propose a commencement rate of N1000/$ customs duty exchange rate.”

Adopt quarterly exchange rate for Customs duty, economist advises FG

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Nigerians attack Reno Omokri for calling Fubara ‘bushman’

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Reno Omokri

Nigerians attack Reno Omokri for calling Fubara ‘bushman’

A former presidential aide to ex-president Goodluck Jonathan, Reno Omokri, has been described as a man who cannot “win a position in history  church prayer meeting group not to talk about a government position.”

These were the remarks of a cross-section of Nigerians who criticized Omokri for describing the Rivers State Governor, Siminalayi Fubara, as a “bushman.”

Omokro, in a statement on Wednesday, described Fubara as a classless politician who acts like a “militant in the creek.”

The social media influencer remarked while commenting on the ongoing feud between the Rivers state governor and his predecessor, Nyesom Wike.

Omokri mentioned that the governor of Rivers State is a ‘tactless’ politician who is “not refined and does not project much intellectual prowess.”

The self-acclaimed table shaker raised concerns that the political tension in the state may spread across the country, having negative effects.

He therefore urged President Bola Tinubu to intervene and ameliorate the feud in the state.

“If their blustering will start and end in Rivers, okay. But it will not end there. The contagious effect may have seismic consequences for our country. Rivers needs an outside force to act as Big Brother. Rivers needs presidential intervention,” Omokri stated.

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Reacting to Omokri’s statement, Ovih Williams said, “It seems you know a lot about Nigerian politics, but what’s stopping you from getting a ticket and running for public office? Oh, let’s guess, you can’t even win a position in your church prayer meeting group not to talk about a government position.”

He adds, “No one can and will trust you with power; your forked tongue will not allow anyone to entrust you with a ticket or an appointment because you will surely betray them in the end, like you did Atiku Abubakar.

“What’s funny is you now doing everything humanly possible to wow the same @officialABAT you called “thief!, ole!!, drug dealer!!!, etc.” just months ago.”

Osadolo Osazeme, in his reaction, mentioned that “Reno is taking trash. If Reno were in Fubara’s shoes, I guess he would do worse to sustain his seat. Imagine Reno selling his soul for Tinubu after campaigning for Atiku in the 2023 presidential election.”

Abdulrahman Abdulrajid berated Omokri, saying, “You never stand for truth. You were defending the action of Ododo for interfering with the EFCC by arresting Yahaya Bello. Now You are taking sides against Fubara.”

He adds, “You talking rubbish! Are you encouraging God-fatherism or what? You didn’t see those videos of how the local government chairman insulted him! Did you know how many people’s properties were demolished in River State?”

“I disagree with you. Gov. Fubara is not a Bushman,” Agba Nwagbegbe noted.

“He represents the interests of the Rivers people. And he didn’t allow the bombing of the HOA. You don’t know what happened there. Rivers State will not be controlled by foreign players; the people of Rivers decide,” he adds.

Amb Mike Damisa, wrote, “I’m disappointed at Reno Omokri; I never saw your write-up condemning Wike’s boys trying to remove a sitting governor for no crime committed just 6 months after he assumed power as Governor of Rivers State, and you never make reference to the status of the defected assembly members, but the same you brag daily on how your father saved Peter Obi during his time as Governor of Anambra State.

“The same you that wants a better Nigeria! Wike shouldn’t be in existence politically if Nigeria needs a fresh air.”

Malam Lukman stated, “Sir, you are taking sides here. After calling Fubara all sorts of names, call Wike with the names he deserves too.

“Wike isn’t perfect, and in this matter, he’s at fault too. He initiated this in the first place. Why are you scapegoating Fubara all of a sudden? No, I don’t agree with you here.”

Tamuno Nengi also commented, “I’ve never expected anything reasonable from you, and you never even try to prove me wrong. You keep jumping from pillar to post. We are waiting for you to grow the naira with caps from Katangwa and walking sticks from Panya.”

Nigerians attack Reno Omokri for calling Fubara ‘bushman’

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Medical activities paralysed in A’Ibom as doctors begin strike over abducted colleague

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Medical activities paralysed in A’Ibom as doctors begin strike over abducted colleague

The Nigerian Medical Association, NMA, in Akwa Ibom has embarked on an industrial action over the abduction of one of its members two weeks ago.

The association suspended medical services across all government and private hospitals in the State due to the continued incarceration of the kidnapped member.

Recall that gunmen had on April 30, 2024, abducted a senior member of the doctors’ association, Dr John Esu at Oron local government area.

Dr Esu’s prolonged captivity has compelled the furious medics to stop work, attributing the development to the insensitivity of government and security agencies towards the safety of lives and properties of the people, including medical workers.

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NMA State Chairman, Prof. Emem Abraham said the strike became imperative to draw the attention of the government and security agencies to the plights of medical workers.

Abraham ordered all members including consultants to the state government and privately owned hospitals to withdraw their services saying the action would be reviewed after 72 hours.

“The NMA, Akwa Ibom State has resolved to withdraw services from all government and private hospitals in sympathy with our member who had been in captivity for over 15 days. The withdrawal of services takes immediate effect and shall be reviewed after 72 hours.

“The entire members of our association have been psychologically traumatised by this unfortunate situation, and are not in any good frame of mind to continue serving the public, while Dr. John Esu remains in the kidnappers’ den.”

Medical activities paralysed in A’Ibom as doctors begin strike over abducted colleague

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Wike, Fubara are ego-driven, crude – Reno Omokri

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Wike, Fubara are ego-driven, crude – Reno Omokri

The governor of Rivers State, Siminalayi Fubara, has been described as a ‘tactless’ politician who is “not refined and does not project much intellectual prowess.”

Reno Omokri made the remarks in a statement on X on Wednesday while commenting on the political tension in Rivers State.

According to Onokri, “the situation in rivers should not be allowed to fester or spiral out of control. It will benefit nobody. And nobody can tell where the political instability it will cause will end.”

Newstrends reports that although Wike handpicked Fubara as his successor, the duo have been at loggerheads for months over political differences that led pro-Wike legislators in the Rivers State House of Assembly to decamp from the Peoples Democratic Party to the All Progressives Congress.

On Saturday, Wike noted that his choice of Fubara was a mistake.

“I want to say this clearly: in life, we make mistakes. I have made a mistake. I own it up, and I say God forgives me.

“I have said all of you should forgive me, but we will correct it at the appropriate time,” he boasted.

Fubara remarked on Tuesday that his administration inherited a massive debt burden from the previous administration of Nyesom Wike.

Fubara stated that several contractors who worked on various projects for Wike’s administration were due to receive balance payments in the billions.

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The revelation provided further light on the situation between the governor and his predecessor and estranged godfather, Wike.

Omokri, who noted that “Both Wike and Fubara are ego-driven,” lamented that “they come from a state that is not homogenous enough to unite and contain this crisis.”

He adds, “The people and culture of the local area do not understand brinksmanship. They play too many zero-sum games, often ending in a lose-lose scenario.”

The self-acclaimed table shaker raised concerns that the political tension in the state may spread across the country, having negative effects.

He, therefore urged President Bola Tinubu to intervene and ameliorate the feud in the state.

“If their blustering will start and end in Rivers, okay. But it will not end there. The contagious effect may have seismic consequences for our country. Rivers needs an outside force to act as Big Brother. Rivers needs presidential intervention,” Omokri stated.

“This is the kind of thing President Obasanjo was good at. President Tinubu may want to borrow a leaf from Ebura Owu, Okikiola,” he adds.

Comparing Fubara to a “militant in the creek” and no “better than an Ateke Tom” (a repentant militant), Omokri berated the governor for allegedly bombing the Rivers State House of Assembly.

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The former presidential aide also expressed displeasure over those who accepted to work as commissioners under the Fubara-led state government.

Urging Tinubu to interfere in the feud, Omokri mentioned, “In this scenario, the Ambode approach is far better than the Ngige tactic. Fubara is not savvy politically.

“He is also not refined and does not project much intellectual prowess. He is rather crude. Not that Wike is much better. But at least Wike would never allow the State House of Assembly to be bombed.

“That is such a low-life and low-level thing to do. Too pedestrian. As if you are a militant in the creek. No class. Just crass. I am ashamed of people who agree to serve as commissioners under such a fellow. No amount of money can wipe away the stigma. I do not see him as being better than an Ateke Tom.

“The President should impress on his minister to allow the fellow to finish his tenure. 2027 is not too far. If you can unseat him, then, by all means, do so.

“It will be more clinical and will not create much tension, as it will be seen as a natural consequence of an election. But to impeach a bushman like Fubara is to reignite the Niger Delta militancy.

“There is no low that an individual like that would not descend to in such a scenario.”

Wike, Fubara are ego-driven, crude – Reno Omokri

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