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Reduction In Diesel Price Can Help Tackle Inflation — Dangote

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The richest man in Africa, Aliko Dangote, claims that a decrease in the retail cost of diesel, or motor petrol, can contribute to a reduction in inflation.

During his visit to President Bola Tinubu in Lagos on Wednesday, Dangote had a conversation with reporters.

He claimed that the nation is headed in the right direction because of the recent significant economic success.

The businessman claimed that cutting the price of diesel from N1,650 to N1,200 would have a significant impact and would even help to immediately reduce rates of inflation.

“There’s quite a lot of improvement because if you look at it, one of the major issues that we have had was the naira devaluation that has gone very aggressively up to about N1,900,” Dangote said.

“But right now, we are back to almost N1,250, N1,300, which is a good reprieve. Quite a lot of commodities went up. When you go to the market, for example, something that we produce locally like flour, people will charge you more. Why? Because they are paying very high diesel prices.

“Now, in our refinery, we started selling diesel at about N1,200 instead of N1,650 and I’m sure as we go along, things will continue to improve quite a lot.

“If you look at it now when you are buying N1,650, N1,700 for a litre of diesel and that one has been caught up by almost one-third to now be paying diesel at N1,200.”

Dangote also said there is a possibility of diesel prices dropping.

“Maybe eventually going forward, even though the crude prices are going up, I believe, people will not get it much higher than what it is today, N1,200, it might be even a little bit lower but that can help quite a lot,” the businessman said.

“Because if you are transporting locally produced goods, rice and other stuff, you are paying N1,650. Now you are paying two-thirds of that amount to N1,200, it is a lot of difference. You know, people don’t know that can actually help to bring inflation down immediately.

“And I’m sure when the inflation figures are out for the next months, you will see that there is quite a lot of improvement in the inflation rate.”

Dangote said the government is tirelessly striving to improve the situation, urging entrepreneurs to collaborate with the government to enhance the welfare of the citizens.

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Police Eliminate Four ‘Kidnappers’, Recover N3m Ransom In Kebbi

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The Kebbi police command has reported that its operatives killed four suspected kidnappers and rescued a victim in Suru LGA of the state.

According to a statement issued on Saturday, Nafi’u Abubakar, the command spokesperson, confirmed that the police also seized N3 million in ransom.

“On Feb. 14, at about 1:45pm; armed men suspected to be kidnappers invaded Gobiraje Village in Suru Local Government Area of Kebbi and kidnapped one Umaru Bawa, 60,” the statement reads.

“Upon receiving the report, the Divisional Police Officer, Suru, swiftly mobilized a team of policemen and vigilantes to the scene, traced the suspects to Tundafari forest in Dakingari axis, and engaged them in a gun battle.

“Consequently, four of the kidnappers were neutralised, one arrested with fatal injuries, while others escaped into the forest with gunshot wounds.”

The spokesperson also mentioned that Bello Sani, the Kebbi police commissioner, praised the officers’ determination and professionalism in Suru, assuring that the fight against state crimes would continue.

The police commissioner urged residents to stay vigilant and report any suspicious activities to the nearest police station without delay.

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Jay-Z, Diddy’s Accuser Drops Sexual Assault Lawsuit

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A woman who had accused hip-hop icons Sean “Diddy” Combs and Jay-Z of sexually assaulting her when she was 13 decided to drop her civil lawsuit on Friday, according to court records.

In December, Jay-Z — whose real name is Shawn Carter — was accused of raping the girl along with Combs at a party after the MTV Video Music Awards in September 2000.

A document filed with the US District Court for the Southern District of New York stated that the accuser “hereby gives notice that the above-captioned action is voluntarily dismissed, with prejudice” — indicating that the lawsuit cannot be refiled.

It was not immediately clear if the stars had reached a settlement with the woman, who has not been identified.

But 55-year-old billionaire Jay-Z welcomed the closure of the case, which he slammed as “frivolous, fictitious and appalling.”

“This civil suit was without merit and never going anywhere. The fictional tale they created was laughable, if not for the seriousness of the claims,” he said in a statement.

“I would not wish this experience on anyone. The trauma that my wife, my children, loved ones and I have endured can never be dismissed.”

The complaint said Combs and Carter — who is married to pop superstar Beyonce — took turns assaulting the plaintiff as another celebrity stood by and watched.

“Many others were present at the after party, but did nothing to stop the assault,” it went on.

“Carter has been with Combs during many such instances described herein. Both perpetrators must face justice.”

Combs, also 55, has separately been charged with sex trafficking and racketeering.

“Federal prosecutors allege that he sexually abused women and coerced them into drug-fueled sex parties using threats and violence.

He has denied all charges, and his criminal trial is currently slated to begin on May 5.

 

Credit: AFP

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First Lady Oluremi Tinubu Calls For Innovative Health Financing In Africa, Says “Foreign Aid Unsustainable”

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Oluremi Tinubu, the First Lady, has stated that Africa needs to develop creative financing strategies tailored to its distinct challenges in order to build a strong healthcare system.

A statement released on Friday by Busola Kukoyi, the Senior Special Assistant on Media to the First Lady, revealed that Oluremi made these comments during a high-level meeting on domestic health financing, organized by President Paul Kagame of Rwanda at the 38th African Union (AU) summit in Addis Ababa, Ethiopia.

Oluremi emphasized that without guaranteed access to essential healthcare for Africans, the continent’s efforts to achieve economic growth will remain unfulfilled.

“Africa cannot continue to rely solely on donor funding and foreign aid, which, although helpful, are often unpredictable and unsustainable,” the statement reads.

Instead, we must develop innovative financing strategies tailored to our unique challenges and circumstances.

“Given the increasing funding gap for health on the continent, I urge us all to come together and commit to advocating for increased national health budgets.”

The First Lady noted that, in light of recent policy changes in the US, Africa must seek local and sustainable solutions to fill its funding gap.

On January 20, US President Donald Trump signed an executive order withdrawing the US from the World Health Organisation (WHO).

Trump also froze funding from the United States Agency for International Development (USAID), which supports most health institutions in Africa.

With this freeze, the World Health Organisation (WHO) projects a significant rise in health crises across the continent.

However, the President’s wife stressed the need for effective resource mobilization and use to ensure short, medium, and long-term impacts, stating that the health of the people is key to the continent’s prosperity.

“In line with the Abuja Declaration, our governments should allocate at least 15% of their budgetary allocations to health,” Oluremi said.

“We must also support innovative financing mechanisms and explore sustainable models, such as expanding health insurance coverage, health endowment funds, and investments from the African diaspora.

“Accountability and transparency must be ensured, as funds allocated to health must be used efficiently and effectively.”

The event saw the participation of presidents and heads of state from several African countries, including Rwanda, Ethiopia, Botswana, Kenya, Senegal, Zimbabwe, and Barbados, as well as donor agencies and funding partners, discussing global and regional approaches to domestic health financing in Africa.

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