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Bag Of Rice Falls Below N60k; See Other Items Experiencing Price Reduction

 

 

Lifestyle Nigeria gathered that With the recent appreciation of the Naira against the dollar, the cost of certain commodities in Nigeria have begun to witness a decline, particularly rice, a staple food item in the country.

Recent market surveys reveal the cost of a 50-kilogram bag of rice has reduced to less than N60,000 in some markets. However, in major cities like Lagos, Abuja, and Ogun, the average cost hovers around N67,000, which still represents a significant drop from the N90,000 price recorded in February 2024.

The removal of petrol subsidies and the floatation of the Naira in the middle of last year had previously led to a surge in food prices, contributing to high inflation rates.

During the period between February and March, as the Naira depreciated against the dollar, the cost of rice skyrocketed, reaching as high as N90,000 in Lagos alone.

However, the recent appreciation of the Naira against other currencies, coupled with shifts in market dynamics and government policies, has resulted in a notable decrease in rice prices, much to the relief of Nigerians.

This downward trend in prices reflects a positive development for consumers across the country, signaling a potential easing of economic pressures and a return to more affordable living costs.

With the news of the significant drop in the cost of a bag of rice, some Nigerians took to X to share their relief and optimism for better economic conditions.

@Renoomokri wrote: “The dollar is going down

Rice is going down

Indomie noodles are going down

Diesel is going down

Airfares are going down

Cement is going down

And even insecurity is going down

The bottom line is this: As part of the opposition, we can fight Tinubu without fighting Nigeria. And if we condemn when things go wrong, then, by all means, we should also commend when they go right!”

@comfortfajugba1 noted: “I am most glad that bag of rice price is finally reducing. When it’s finally back to 15k ,pls tag me to finally appreciate APC for a Job well done.”

@Midexhairgrowt1 remarked: “I really feel for those who stocked up their warehouse in bulk at expensive price.”

@DANNIE_ADEL said: “If you wise .. Get Married Now wey Bag of rice price don reduce.”

Amid the notable drop in rice prices, several other items in Nigeria have experienced reductions in their previously inflated costs. One such item is diesel, which has seen a significant decrease in price following an announcement by Dangote Petroleum Refinery.

The refinery declared a reduction in the prices of both diesel and aviation fuel, with rates now set at N940 and N980 per litre, respectively.

This marks the third substantial reduction in diesel price within less than three weeks, with prices initially ranging from N1,700 to N1,200, then further reducing to N1,000, and now reaching N940 per litre. Similarly, aviation fuel prices have decreased to N980 per litre.

Also, a recent survey conducted in the country revealed that the prices of some mobile phones have also plummeted since the appreciation of the Naira against the dollar.

This additional reduction in prices signifies a broader trend of decreasing costs across various sectors, reflecting the positive impact of market dynamics and economic policies on consumer affordability.

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BREAKING: Petrol Price Hits N2,000, N2,500 Per Litre As Fuel Scarcity Bites Harder

 Fuel Scarcity Bites Harder

Lifestyle Nigeria gathered that residents in Sokoto State have continued to lament the untold hardship they are subjected to following the fuel scarcity being experienced in all parts of the state that has made businesses and other activities very difficult.

Commuters in the state said most filling stations are locked under the guise that they lack product to dispense, while black marketers are selling a litre of petrol between N2,000 and N2,500 across the metropolis.

Some residents who spoke with Channels correspondent called on the government to intervene to bring the situation under control so as not to degenerate.

They said the situation has started affecting business activities and making life difficult for people as the black market price of N2,500 per litre is becoming scarce and this is bringing business and other activities to a standstill in the metropolis.

Meanwhile, the Nigerian National Petroleum Company Limited (NNPC Ltd) has blamed the fuel queues that have resurfaced in Lagos, Abuja and other states of the Federation on “logistics issues”.

The company, however, said the issues have been resolved.

“The Nigerian National Petroleum Company Limited (NNPC Ltd) wishes to clarify that the tightness in the supply of Premium Motor Spirit currently being experienced in some areas across the country is as a result of logistics issues and that they have been resolved,” the company said in a statement on Thursday evening.

“It also wishes to reiterate that the prices of petroleum products are not changing.”

NNPCL called on Nigerians to “avoid panic buying as there is a sufficiency of products in the country”.

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Sen. Ned Nwoko (PDP-Delta) says he has proposed a Bill before the Senate for the establishment of a National Talent Reha

Sen. Ned Nwoko (PDP-Delta) says he has proposed a Bill before the Senate for the establishment of a National Talent Rehabilitation and Integration Agency.

Nwoko who is representing Delta North Senatorial District disclosed this in an interview with the News Agency of Nigeria (NAN) on Friday, in Abuja.

He said that the proposed bill was a fallout from the talents discovered from the illegal arms factory in Onicha-Olona, Delta.

NAN reports that though they were arrested by the Nigerian Army, they were, however, released through the intervention of the lawmaker.

He noted that individuals with specialised skills and talents in technology, particularly in areas such as manufacturing of weaponry, were often involved in illegal activities, posing a threat to national security and public safety.

He added that, it was also recognised that the talents and skills of such individuals, if harnessed and integrated into the formal economy, have the potential to contribute positively to society and boost local industries.

The lawmaker who is a member of the Senate Committee on Defence said that there was the need to establish a comprehensive framework for the rehabilitation and integration of offenders with specialised technological talents.

He said this was with a view to providing them with opportunities for growth, development and lawful employment.

He also said that it was the duty of the government to protect the welfare of its citizens, promote social justice and prevent the misuse of technology for illicit purposes.

“It is in accordance with these principles, that I proposed the Bill titled “A Bill For An Act To Establish The National Talent Rehabilitation and Integration Agency And For Related Matters” to be enacted by

the National Assembly of the Federal Republic of Nigeria.

According to him, the bill seeks to address the challenge of skilled individuals engaging in illegal activities.

“This is particularly in technology-related fields, by providing a structured framework for their rehabilitation and integration into lawful employment and entrepreneurship.

“Through the establishment of the National Talent Rehabilitation and Integration Agency, the talents of offenders with specialised skills will be harnessed, public safety promoted, recidivism rates reduced and they can contribute to the economic development of the nation.

“For the purpose of this Act, offenders shall refer to individuals who have been convicted of illegal activities involving technology, including but not limited to the manufacturing of weaponry,” he said.

Nwoko explained that specialised skills and talents in technology would encompass a wide range of technical-abilities, including but not limited to software development, engineering, robotics and other fields relevant to the manufacturing and utilisation of technological products.

He said that offenders eligible for participation in the rehabilitation and integration programmes under the Act must meet certain criteria.

“The offenders must demonstrate specialied skills and talents in technology.

“They must possess demonstrable expertise and proficiency in technological fields relevant to the objectives of this Act,

such as software development, engineering, electronics or other specialised areas.

“They must have been convicted of illegal activities involving

technology, including but not limited to the manufacturing, distribution or utilisation of weaponry or other technological products for unlawful purposes,” he said.

The lawmaker, however, said that offenders would be made to undergo a comprehensive assessment to evaluate their potential for rehabilitation

and successful integration into the formal economy.

He said that the participants’ interest and willingness to participate in the programme and commitment to lawful behavior would be taken into accounts.

He added that offenders must agree to comply with the rules, regulations and requirements of the rehabilitation and integration programme.

This, he said would include participation in vocational training, mentorship and other activities aimed at facilitating their transition to lawful employment and productive citizenship.

He said that the programme would also encompass vocational training, mentorship and counseling, job placement and entrepreneurship support, social reintegration and community engagement.

He further said that the programme would be implemented in accordance with the legal principles of due process, equal protection under the

law and adherence to relevant statutes and regulations governing the rehabilitation of offenders.

Nwoko also said that the board of the proposed Agency would be composed of representatives from various governmental entities

and relevant stakeholders, including but not limited to the Ministry of Science and Technology, National Security Agency (NSA) and the Department of State Services (DSS).

Others he said would include the Nigerian Police Force, Navy, Army, Air Force, other relevant stakeholders like the academia, industry associations, non-governmental organisations and community groups. (NAN)(www.nannews.ng)

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How I Formed Kidnap Gang Inside Prison While Serving 11-Yrs Jail Term – Suspected Kidnapper 

 

 

Lifestyle Nigeria gathered that the goals of Correctional centres, otherwise known as Prison , are to strike a balance between punishment, rehabilitation and public safety while preparing inmates for a productive life after release.

However, in Nigeria , these goals have suffered severe set back as most inmates rather than being transformed into a better version of themselves, return back to the society hardened than they were before going to jail.

This was the case of a suspected leader of a kidnap gang arrested by the Rivers State Police Command under the SEE of CP Olatunji Disu.

The suspect, Gift Ogbo (39), who is receiving treatment in the hospital, from injuries sustained during a botched kidnap operation , disclosed that he formed his gang while serving his 11 years jail term for a murder case.

Ogbo, who said he had never been to a classroom since birth, recalled how he roamed his village in Ndele, Emohua Local Government Area of Rivers State, during school hours, searching for opportunities to pilfer.

Due to his alleged villainous disposition, he was nick named ‘Akwa Ndele’, with parts of his body designed with bold scars .

Arrest

Saturday Vanguard gathered that on March 29, 2024, Ogbo, led three members of his gang on a kidnap mission, in their operational tricycle, on Nkpolu road.

They reportedly intercepted a white Mercedes-Benz ML 350 4matic , parked on the road, with two occupants in the driver and passenger seats.

But in an act of bravery, driver of the Mercedes who attempted to reverse and escape, hit a wall .

He reportedly drove menacingly towards two suspected members of the gang that stood in front of the car ,and ran over them.

The two suspects were ogbo and another member identified simply as Oyi-Baba, who were the gang’s muscle men. They were abandoned at the scene by their fleeing colleagues.

A mob was said to have descended on them and was at the verge of setting them ablaze when a Rapid Response Team that was contacted arrived the scene.

While Oyi-Baba reportedly died in the hospital, Ogbo , is still undergoing treatment, according to Police sources.

Prison gang

From the hospital bed, Ogbo, said, “ In 2012, I attacked one of my uncles during an argument over a parcel of land and he died in the process.

I was arrested and charged for murder. While serving my 11 years hail term, I made friends with some inmates.

“Upon my release in December 2023, I returned to Ndele and rallied two old friends, Gift Kpanuku, aka Oyi-Baba and one Sunny, aka Onye-meme.

”We teamed up with two released members of the gang I formed in prison: Isaac and Ugo and immediately devised a plan to start a kidnap-for-ransom gang.

“ We stole from residents of Ndele to raise money for arms. We raised 370,000 and used it to purchase two locally made shot guns in Akwa-Ibom from Smart, a gunrunner I also met in prison.

Operations

“ We went on the first mission on March 13, 2024, at about 8.45 p.m. We snatched a red Mazda 323 from a local taxi driver to use as operational vehicle. On that same evening, we met a man and his wife who parked their car in front of a doctor’s office at Nkpolu. We ordered them out of their Volkswagen Touareg, pushed them into the back seat of the car and drove off with them, abandoning the stolen Mazda.

“ But on the way to our hideout, there was traffic .While contemplating an alternative route, the woman jumped out of the car. In anger, I shot her husband in both thighs, and we sped off.

We took him to a compound in Eleme, took his gold chain, gold wristwatch , his phone and wife’s phone which she left . We used his ATM card to withdraw N530, 000, via

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