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Tag: Inflation

  • Traders, consumers lament as Nigeria’s inflation rate hits 22.22%

    Traders, consumers lament as Nigeria’s inflation rate hits 22.22%

    The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 22.22 per cent on a year-on-year basis in April 2023.

    This is according to the NBS Consumer Price Index (CPI) and Inflation Report for April 2023 released in Abuja on Tuesday.

    According to the report, the figure is 0.18 per cent points higher compared to the 22.04 per cent recorded in March 2023.

    It said on a year-on-year basis, the headline inflation rate in March 2023 was 5.40 per cent higher than the rate recorded in April 2022 at 16.82 per cent.

    “This shows that the headline inflation rate (year-on-year basis) increased in April 2023 when compared to the same period in April 2022,’’ it said.

    The report showed that contributions of items on divisional level increase in the headline index, are food and non-alcoholic beverages at 11.51 per cent.

    While housing, water, electricity, gas and other fuel at 3.72 per cent.

    Others are clothing and footwear at 1.70 per cent; transport at 1.45 per cent; furnishings, household equipment and maintenance at 1.12 per cent and education at 0.88 per cent, and health at 0.67 per cent.

    “Miscellaneous goods and services at 0.37 per cent; restaurant and hotels at 0.27 per cent; alcoholic beverage, tobacco and kola at 0.24 per cent; recreation and culture at 0.15 per cent and communication at 0.15 per cent.”

    It said the percentage change in the All-Items Index in April 2023 was 1.91 per cent on a month-on-month basis.

    “This indicates a 0.05 per cent increase compared to the 1.86 per cent recorded in March 2023.

    ”This means that in April 2023, on average, the general price level was 0.05 per cent higher relative to March 2023.”

    The percentage change in the average CPI for the 12 months ending April 2023 over the average of the CPI for the previous 12 months period was 20.82 per cent.

    “This indicates a 4.37 per cent increase compared to the 16.45 per cent recorded in April 2022.’’

    It said increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.

    The report said the food inflation rate in April 2023 was 24.61 per cent on a year-on-year basis, which was 6.24 per cent higher compared to the rate recorded in April 2022 at 18.37 per cent.

    “The rise in food inflation is caused by increases in prices of bread and cereals, potatoes, yams and other tubers, and oil and fat, fish, vegetable, fruits, meat, and spirits.”

    It said on a month-on-month basis, the food inflation rate in April was 2.13 per cent, which was a 0.06 per cent rise compared to the rate recorded in March 2023 at 2.07 per cent.

    The report said the “All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 20.14 per cent in April 2023 on a year-on-year basis.

    “This increased by 5.96 per cent compared to 14.18 per cent recorded in April 2022.’’

    “On a month-on-month basis, the core inflation rate was 1.46 per cent in April 2023, which was a 0.78 per cent drop compared to what it stood at in March 2023 at 1.84 per cent.”

    According to the report, the highest increases were recorded in prices of gas, passenger transport by Air, liquid fuel, fuels, lubricants for Personal transport equipment, and vehicles spare parts.

    “Others are maintenance and repair of personal transport equipment and solid fuel, medical services, and passenger transport by road, among others.

    “The average 12-month annual inflation rate was 17.91 per cent for the 12 months ending April 2023, this was 4.23 per cent points higher than the 13.68 per cent recorded in April 2022.”

    The report said on a year-on-year basis in April 2023, that the urban inflation rate was 23.39 per cent, which was 6.05 per cent higher compared to the 17.35 per cent recorded in April 2022.

    “On a month-on-month basis, the urban inflation rate was 2.05 per cent in April 2023, representing a 0.05 per cent rise compared to March 2023 at 2.00 per cent.’’

    It said the corresponding 12-month average for the urban inflation rate was 21.50 per cent in April 2023.

    “This was 4.49 per cent higher compared to the 17.01 per cent reported in April 2022.’’

    The report said on a year-on-year basis in April 2023, the rural inflation rate was 21.14 per cent, which was 4.82 per cent higher compared to the 16.32 per cent recorded in April 2022.

    “On a month-on-month basis, the rural inflation rate in April 2023 was 1.78 per cent, which increased by 0.06 per cent compared to March 2023 at 1.72 per cent.’’

    It said the corresponding 12-month average for the rural inflation rate in April 2023 was 20.18 per cent, which was 4.27 per cent higher compared to the 15.91 per cent recorded in April 2022.

    On states’ profile analysis, the report showed in April 2023, all items inflation rate on a year-on-year basis was highest in Bayelsa at 26.14 per cent, followed by Kogi at 25.57 per cent, and Rivers at 24.95 per cent.

    It, however, said the slowest rise in headline year-on-year inflation was recorded in Borno at 19.60 per cent, followed by Taraba at 19.64 per cent, and Sokoto at 19.90 per cent.

    The report, however, said in April 2023, all items inflation rate on a month-on-month basis was highest in Cross River at 3.05 per cent, Bayelsa at 2.92 per cent and Rivers at 2.62 per cent.

    “Katsina at 0.52 per cent, followed by Jigawa at 0.74 per cent and Osun at 0.96 per cent recorded the slowest rise in month-on-month inflation.”

    The report said food inflation in April 2023, on a year-on-year basis, was highest in Kogi at 29.50 per cent, followed by Kwara at 29.48 per cent, and Bayelsa at 29.38per cent.

    “Sokoto at 19.55 per cent, followed by Taraba at 20.20 per cent and Jigawa at 20.68 per cent recorded the slowest rise in food inflation on a year-on-year basis.’’

    The report, however, said on a month-on-month basis, April 2023 food inflation was highest in Cross River at 4.65 per cent, followed by Bayelsa at 3.61 per cent, and Ekiti at 3.49 per cent.

    ”With Jigawa at 0.14 per cent, followed by Katsina at 0.44 per cent and Osun at 0.62 per cent recorded the slowest rise on month-on-month inflation.’’

    Traders, consumers lament tomatoes price hike

    Meanwhile, some tomato traders and consumers have lamented the recent scarcity and hike in the price of the produce in the country.

    They said this in separate interviews with the NAN on Tuesday in Lagos.

    The traders who attributed the scarcity and hike to seasonal occurrence said there was nothing they could do but to sell in accordance with the market value.

    They, however, predicted that the scarcity would likely last till late September or early October.

    Mr Musa Yakubu, a tomatoes trader in a popular Ile-epo market at the Alimosho Local Government, said the boom season of tomatoes had past.

    Yakubu added that harvest season of tomatoes was over, hence the recent hike in the price of the produce.

    “The tomatoes specie available currently is the plum tomatoes from the south, popularly known for its high water content and tangy taste,” Yakubu said.

    On his part, Mr Umar Yusuf, another tomatoes seller, said the scarcity of the produce led to the hike in the price of the produce.

    “Tomatoes are currently expensive because they are out of season, transporting them from north to south is also a major factor that has affected price hike of the produce.

    “A medium basket of tomatoes goes between N24,000 and N30,000 depending on the size of the fruit, while a raffia basket sells for N42,000.

    “A small basket of tomatoes presently sells at N16,000 as against N5,000 or N6,000 in March/April, this is because the produce is out of season.

    “There is nothing we can do about it, it is a seasonal scarcity,” Yusuf said.

    Some of the consumers said they have no choice but to improvise the use of tomatoes in their cooking due to the price hike.

    Mrs Josephine Kallo, a resident at Amuwo-Odofin area of the state, says she buys only what she can afford.

    “The cost of tomatoes has risen astronomically, we used to buy a small paint bucket for N1,500 some weeks ago but now it goes for as high as N4,000.

    “The traders said that we are out of the season of tomatoes as the rains have begun and it is destroying the crops.

    “We have no choice but to buy what we can afford or improvise to make meals for our families,” Kallo said.

    Another resident in Ojo area of the state, Mrs Nelice Jaule, said since the scarcity of the produce, she no longer buys fresh tomatoes.

    “I don’t buy fresh tomatoes again since the recent hike in the price. In spite of the price increase, the quantity is nothing to take home.

    “We now make use of tin tomatoes, red bell peppers, habanero pepper and a lot of onions for our stews as tomatoes have become gold,” Jaule said.

    Mrs Patricia Amanyi, a resident at Isolo area of the state, called for preservation measures for the produce to avert recurrence.

    “This seasonal scarcity and consequent hike in tomatoes price is something we have observed over the years.

    ‘Since the price hike this year, I have not bought tomatoes, I make use of tomatoes that I preserved in January, February and March during the peak season.

    “If we can get to learn how to preserve tomatoes in its peak season, we will not face this annual scarcity and hike in the price of the produce,” Amanyi said.

  • Inflation rate in Nigeria hits 22.04% – NBS

    Inflation rate in Nigeria hits 22.04% – NBS

    The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 22.04 per cent on a year-on-year basis in March 2023.

    This is according to the NBS Consumer Price Index (CPI) and Inflation Report for March 2023 released in Abuja on Monday.

    According to the report, the figure is 0.13 per cent points higher compared to the 21.91 per cent recorded in February 2023.

    It said on a year-on-year basis, the headline inflation rate in March 2023 was 6.13 per cent higher than the rate recorded in March 2022 at 15.92 per cent.

    “This shows that the headline inflation rate (year-on-year basis) increased in March 2023 when compared to the same period in March 2022.”

    The report said the contributions of items on the divisional level to the increase in the headline index are food and non-alcoholic beverages at 11.42 per cent and housing, water, electricity, gas and other fuel at 3.69 per cent.

    Others are clothing and footwear at .69 per cent; transport at 1.43 per cent; furnishings, household equipment and maintenance at 1.11 per cent and education at 0.87 per cent and health at 0.66 per cent.

    “Miscellaneous goods and services at 0.37 per cent; restaurant and hotels at 0.27 per cent; alcoholic beverage, tobacco and kola at 0.24 per cent; recreation and culture at 0.15 per cent and communication at 0.15 per cent.”

    It said the percentage change in the All-Items Index in March 2023 was 1.86 per cent on a month-on-month basis.

    “This indicates a 0.15 per cent increase compared to the 1.71 per cent recorded in February 2023.

    ” This means that in March 2023, on average, the general price level was 0.15 per cent higher relative to February 2023.”

    The percentage change in the average CPI for the 12 months ending March 2023 over the average of the CPI for the previous 12 months period was 20.37 per cent.

    “This indicates a 3.83 per cent increase compared to the 16.54 per cent recorded in March 2022.’’

    It said increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.

    The report said the food inflation rate in March 2023 was 24.45 per cent on a year-on-year basis, which was 7.25 per cent higher compared to the rate recorded in March 2022 at 17.20 per cent.

    “The rise in food inflation is caused by increases in prices of bread and cereals, potatoes, yams and other tubers, and oil and fat, fish, vegetable, fruits, meat, and spirits.”

    It said on a month-on-month basis, the food inflation rate in March was 2.07 per cent, which was a 0.16 per cent rise compared to the rate recorded in February 2023 at 1.90 per cent.

    The report said the “All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 19.86 per cent in March 2023 on a year-on-year basis.

    “This increased by 5.94 per cent compared to 13.91 per cent recorded in March 2022.’’

    “On a month-on-month basis, the core inflation rate was 1.84 per cent in March 2023, which was a 0.78 per cent rise compared to what it stood at in February 2023 at 1.06 per cent.”

    According to the report, the highest increases were recorded in prices of gas, passenger transport by Air, liquid fuel, fuels, lubricants for Personal transport equipment, and vehicles spare parts.

    “Others are maintenance and repair of personal transport equipment and solid fuel, medical services, and passenger transport by road, among others.

    “The average 12-month annual inflation rate was 17.41 per cent for the 12 months ending March 2023, this was 3.85 per cent points higher than the 13.56 per cent recorded in March 2022.”

    The report said on a year-on-year basis in March 2023, that the urban inflation rate was 23.07 per cent, which was 6.63 per cent higher compared to the 16.44 per cent recorded in March 2022.

    “On a month-on-month basis, the urban inflation rate was 2.00 per cent in March 2023, representing a 0.15 per cent rise compared to February 2023 at 1.85 per cent.’’

    It said the corresponding 12-month average for the urban inflation rate was 21.00 per cent in March 2023.

    “This was 3.90 per cent higher compared to the 17.10 per cent reported in March 2022.’’

    The report said on a year-on-year basis in March 2023, the rural inflation rate was 21.09 per cent, which was 5.67 per cent higher compared to the 15.42 per cent recorded in March 2022.

    “On a month-on-month basis, the rural inflation rate in March 2023 was 1.72 per cent, which increased by 0.14 per cent compared to February 2023 at 1.58 per cent.’’

    It said the corresponding 12-month average for the rural inflation rate in March 2023 was 19.79 per cent, which was 3.79 per cent higher compared to the 16.00 per cent recorded in March 2022.

    On states’ profile analysis, the report showed in March 2023, all items inflation rate on a year-on-year basis was highest in Ondo at 25.38 per cent, followed by Bayelsa at 24.80 per cent, and Lagos at 24.66 per cent.

    It, however, said the slowest rise in headline year-on-year inflation was recorded in Borno at 10.18 per cent, followed by Cross River/Sokoto at 19.24 per cent, and Benue at 20.01 per cent.

    The report, however, said in March 2023, all items inflation rate on a month-on-month basis was highest in Bayelsa at 2.58 per cent, Nasarawa at 2.54 per cent and Lagos at 2.41 per cent.

    “Anambra at 1.03 per cent followed by Ebonyi at 1.14 per cent and Zamfara at 1.27 per cent recorded the slowest rise in month-on-month inflation.”

    The report said food inflation in March 2023, on a year-on-year basis, was highest in Kwara at 28.48 per cent, followed by Ondo at 28.22 per cent, and Lagos at 27.92 per cent.

    “Sokoto at 18.99 per cent, followed by Zamfara at 20.57 per cent and Plateau at 21.38 per cent recorded the slowest rise in food inflation on a year-on-year basis.’’

    The report, however, said on a month-on-month basis, March 2023 food inflation was highest in Bayelsa at 3.11 per cent, followed by Rivers at 3.00 per cent, and Ondo at 2.98 per cent.

    “With Bauchi at 1.03 per cent, followed by Zamfara at 1.08 per cent and Ogun at 1.13 per cent recorded the slowest rise on month-on-month inflation.’’

  • Africa’s slow economic growth insufficient to reduce extreme poverty – World Bank

    Africa’s slow economic growth insufficient to reduce extreme poverty – World Bank

    The growth recovery in Nigeria for 2023 is still fragile as oil production remains subdued and the new administration faces many policy challenges.

    A new world bank report has revealed that Sub-Saharan Africa faces a myriad of challenges to regain its growth momentum, including the protracted slowdown of growth of investment in the region, which limits its efforts to reduce extreme poverty and boost shared prosperity in the medium to long term.

    The April 2023 edition of the World Bank Africa’s Pulse data report showed that growth across Sub-Saharan Africa remained sluggish as a result of “uncertainty in the global economy, the underperformance of the continent’s largest economies, high inflation, and a sharp deceleration of investment growth”.

    This outlook poses challenges to policy makers in the region who seek to accelerate the post-pandemic recovery, reduce poverty, and put the economy on a sustainable growth path.

    Economic growth slowed to 3.6 per cent in 2022, from 4.1 per cent in 2021 and economic activity in the region is projected to further slow down to 3.1 per cent in 2023, a 0.4 percentage point downward revision compared to the October 2022 Africa’s Pulse forecast.

    “Growth is estimated to pick up to 3.7 and 3.9 per cent in 2024 and 2025, respectively – thus signalling that the slowdown in growth should be bottoming out this year,” the report said.

    A rebound of global growth later this year, easing of austerity measures, and more accommodative monetary policy amid falling inflation are the main factors contributing to the increased growth along the forecast horizon.

    The report noted that the growth recovery in Nigeria for 2023 (2.8 per cent) was still fragile as oil production remained subdued and the new administration faces many policy challenges.

    Inflation remains persistently high and above target and will continue to weigh on economic activity; consumer price inflation in Sub-Saharan Africa accelerated sharply and hit a 14-year record high in 2022 (9.2 per cent), fueled by rising food and energy prices as well as weaker currencies.

    Climate shocks, especially in the Horn of Africa, add inflationary pressures from the supply side and the number of countries with two-digit average annual rates of inflation increased from 9 in 2021 to 21 in 2022.

    Public debt in Sub-Saharan Africa has more than tripled since 2010, with a sharp increase prior to the onset of the COVID-19 crisis.

    According to the report, the surge in public debt has been accompanied by a shift in its composition toward domestic debt—particularly, to meet pandemic-related financing needs and domestic debt accounted for nearly half of the outstanding public debt by the end of 2021.

    “Fiscal dominance and foreign exchange rate restrictions may lead to inflation outcomes that are contrary to what monetary tightening intends.

    “In Sub-Saharan Africa, curbing inflation remains essential to boost people’s incomes and reduce uncertainty around consumption and investment plans,” the report said.

    Therefore, it recommended that policies to fight against inflation should be complemented by income support measures (via cash or food transfers) to protect the most vulnerable from stubbornly high inflation—particularly, food inflation.

    It added that African governments must sharpen their focus on macroeconomic stability, domestic revenue mobilisation, debt reduction, and productive investments in the face of dampened growth prospects and rising debt levels.

    “In a time of energy transition and rising demand for metals and minerals, resource-rich governments have an opportunity to better leverage natural resources to finance their public programs, diversify their economy, and expand energy access.

    “Africa’s natural resource wealth holds significant untapped economic potential. About one-third of the total stock of wealth in Sub-Saharan Africa is held in various forms of natural capital, including renewable natural capital like cropland, water resources, and forests, as well as nonrenewable subsoil assets.”

    The region’s nonrenewable petroleum and mineral deposits reached more than US$5 trillion in value during the boom years (2004–14) and Sub-Saharan Africa has seen more major petroleum discoveries since 2000 than any other region in the world.

  • Nigeria’s inflation rate hits 21.82%

    Nigeria’s inflation rate hits 21.82%

    The National Bureau of Statistics (NBS), says Nigeria’s headline inflation rate increased to 21.82 per cent on a year-on-year basis in January 2023.

    This is according to the NBS Consumer Price Index (CPI) and Inflation Report for January 2023 released in Abuja on Wednesday.

    According to the report, the figure is 6.22 per cent points higher compared to the 15.60 per cent recorded in January 2022.

    It said on a month-on-month basis, the Headline inflation rate in January 2023 was 0.47 per cent higher than the rate recorded in December 2022 at 21.34 per cent.

    The report said the increase in the inflation rate was largely attributed to the rise in prices of Bread and Cereal at 21.67 per cent.

    “Actual and Imputed Rent at 7.74 per cent, Potatoes, Yam and Tuber at 6.06 per cent, Vegetables at 5.44 per cent, and Meat at 4.78 per cent.’’

    It said the percentage change in the average CPI for the 12 months ending January 2023 over the average of the CPI for the previous 12 months period was 19.36 per cent.

    “This indicates a 2.49 per cent increase compared to the 16.87 per cent recorded in January 2022.’’

    It said increases were recorded in all Classification of Individual Consumption by Purpose (COICOP) divisions that yielded the headline index.

    The report said the food inflation rate in January 2023 was 24.32 per cent on a year-on-year basis, which was 7.19 per cent higher compared to the rate recorded in January 2022 at 17.13 per cent.

    “The rise in food inflation is caused by increases in prices of bread and cereals, potatoes, yams and other tubers, and oil and fat, fish, vegetable, fruits, meat, and food products.’’

    It said on a month-on-month basis, the food inflation rate in January was 2.08 per cent, which was a 0.19 per cent rise compared to the rate recorded in December 2022 at 1.89 per cent.

    According to the report, the increase was attributed to a rise in prices of some food items like oil and fat, bread and cereals, fish, potatoes, and yam and tubers.

    “The average annual rate of food inflation for the 12 months ending January 2023 was 21.53 per cent, which was a 1.44 per cent points increase from the average annual rate of change recorded in January 2022 at 20.09 per cent.

    The report said the “All items less farm produce’’ or Core inflation, which excludes the prices of volatile agricultural produce stood at 19.16 per cent in January 2023 on a year-on-year basis.

    “This increased by 5.29 per cent compared to 13.87 per cent recorded in January 2022.’’

    On a month-on-month basis, the core inflation rate was 1.82 per cent in January 2023, which was a 0.49 per cent rise compared to what it stood at in December 2022 at 1.33 per cent.

    According to the report, the highest increases were recorded in prices of gas, liquid fuel, and passenger transport by air, vehicle spare parts, fuels, and lubricants for personal transport, equipment, solid fuel, etc.

    “The average 12-month annual inflation rate was 16.52 per cent for the 12 months ending January 2023, this was 3.19 per cent points higher than the 13.33 per cent recorded in January 2022.”

    The report said on a year-on-year basis in January 2023, that the urban inflation rate was 22.55 per cent, which was 6.38 per cent higher compared to the 16.17 per cent recorded in January 2022.

    “On a month-on-month basis, the urban inflation rate was 1.98 per cent in January 2023, representing a 0.17 per cent increase compared to December 2022 at 1.80 per cent.’’

    It said the corresponding 12-month average for the urban inflation rate was 19.91 per cent in January 2023.

    “This was 2.48 per cent higher compared to the 17.44 per cent reported in January 2022.’’

    The report said on a year-on-year basis in January 2023, the rural inflation rate was 21.13 per cent, which was 6.08 per cent higher compared to the 15.06 per cent recorded in January 2022.

    “On a month-on-month basis, the rural inflation rate in January 2023 was 1.77 per cent, which increased by 0.14 per cent compared to December 2022 at 1.13 per cent.’’

    It said the corresponding 12-month average for the rural inflation rate in January 2023 was 18.84 per cent, which was 2.53 per cent higher compared to the 16.31 per cent recorded in January 2022.

    On states’ profile analysis, the report showed in January 2023, all items inflation rate on a year-on-year basis was highest in Bauchi at 24.79 per cent, followed by Ondo at 24.54 per cent, and Anambra at 24.51 per cent.

    It, however, said the slowest rise in headline year-on-year inflation was recorded in Jigawa at 19.09 per cent, followed by Borno at 19.62 per cent, and Sokoto at 19.90 per cent.

    The report, however, said in January 2023, all items inflation rate on a month-on-month basis was highest in Lagos at 2.91 per cent, Taraba at 2.84 per cent and Ondo at 2.68 per cent.

    “While Yobe at 0.54 per cent followed by Jigawa at 0.73 per cent and Oyo at 0.87 per cent recorded the slowest rise in month-on-month inflation.”

    The report said food inflation in January 2023, on a year-on-year basis, was highest in Kwara at 29.03 per cent, followed by Lagos at 27.67 per cent, and Ondo at 27.38 per cent.

    “Jigawa at 19.22 per cent, followed by Sokoto at 20.80 per cent and Yobe at 21.32 per cent recorded the slowest rise on year-on-year food inflation.’’

    The report, however, said on a month-on-month basis, January 2023 food inflation was highest in Lagos at 3.67 per cent, followed by Ogun at 3.54 per cent, and Ekiti at 3.32 per cent.

    “While Yobe at -0.50 per cent, followed by Jigawa at 0.18 per cent and Kebbi at 0.92 per cent recorded the slowest rise on month-on-month inflation.’’

  • Affliction strikes Nigerians the second time – By Owei Lakemfa

    Affliction strikes Nigerians the second time – By Owei Lakemfa

    Iam walking back from the position of many Nigerians that these are the worse of times for the country. It would have been difficult to dispute what appears to be a truism. We are buffeted by rampant cases of terrorism, banditry and sectarian violence. Inflation is over 20 per cent, we became the poverty capital of the world, one of the most corrupt with one of the most inept leadership in the world.

    In a sense, we are to blame for the debilitating currency crises we find ourselves today which has further impoverished us.

    When we have a government which is not only incapable of refining the petroleum product needs of an oil-rich country, but is so inept that it cannot even distribute imported fuel, how can we assume it would deliver on a currency change? How on earth did we expect a donkey to carry the load a camel cannot carry just because it brags around about its prowess. Even if it makes claims of a glorious past, does common sense not teach that we should interrogate that past? As a local saying goes: why can’t we borrow ourselves some sense?

    Let me openly admit that despite the disastrous implementation of the currency change which is pushing the populace into anarchism and revolt, this exercise is far more humane than a similar one undertaken from April 1, 1984 by General Muhammadu Buhari, as he then was. While Nigerians were given 90 days with effect from December 15, 2022 to swap their old currency for new ones, back in 1984, they were given only 12 days! That currency change operation had all the trappings of a coup. Many who spent two thirds of the currency change window queuing and sleeping at the banks, could not change their currency.

    I recall somebody I knew in that 1984 currency change who had a huge sum of money – I think N12,000 or N14,000 – and despite strenuous efforts, could not change his money. As the deadline got close, rather than watch his money become worthless, he dashed to the Volkswagen of Nigeria on Badagry Road, Lagos to offload the cash on it as payment for a new Passat car he did not need.

    He was ‘smart’ as many, especially traders, watched their money become worthless. Who knows how many went into depression, and how many went to early graves.

    I repeat that this time, Nigerians are luckier as they not only had a far longer period to change their money, but also have mobile banking, transfers and ATMs. Another major luck Nigerians have this time was that many could at least deposit their money in the banks even if they have no immediate access to it.

    There was the normal Nigerian saga that went with that 1984 currency change. The Buhari junta had decreed that during the exercise every suitcase arriving in the country should be inspected no matter the status of the owner. This ostensibly was to ensure that Naira stashed abroad was not smuggled into the country to be changed. But during the period, 53 suitcases which arrived at the Murtala Mohammed International Airport were escorted out by armed soldiers without Customs check. The soldiers were allegedly sent on the operation by Major Mustapha Jokolo, the then Aide-de-Camp, ADC, to General Buhari.

    Current Peoples Democratic Party, PDP, presidential candidate, Alhaji Atiku Abubakar was the then Area Controller of Customs in charge of the airport. He recalled that the “soldiers who came to pick the suitcases were rude, crude and threatened Customs officers who had insisted on inspecting the suitcases”.

    That was a regime of impunity, and if you ask me, that culture and style, remains part of the Buhari administration.

    This is President Buhari’s second time as Head of State; the first was as a military dictator. He has also been Petroleum Minister twice. He seems determined to repeat the programmes of his first ‘term’ for which he was booted out.

    Another of his cyclic programmes was border closure. He shut all the country’s borders indefinitely from April 1,1984 in the name of protecting the country’s economy. It was done in vain. I recall having some friends teaching in Kankon, a town at the Seme Border. On a visit during this infamous closure, one of my hosts sent a young man to buy alcoholic drinks across the border in Benin Republic. I thought the border was closed and asked how he expected the young man to cross it. My friend laughed and said I was repeating an official line, as normal commercial activities were going on, except that with the ‘closure’ it had become costlier. He added that if I could put a three-storey building on rollers, he would roll it across the border.

    In August 2019, Buhari repeated his border closure programme ostensibly over the illegal importation of drugs, arms and agricultural products, especially rice from neighbouring West African countries. Four months later, he ordered the reopening of four land borders.

    So, in a sense, we are luckier this time because the borders were closed for only four months. In contrast, the borders closed in 1984 were not reopened until 20 months later; that is four months after his overthrow.

    In analysing Buhari’s bouts with border closures, Africa’s leading border expert, Emeritus Professor Anthony Asiwaju submitted that Buhari’s failed border policies are due to “his own administration’s self-inflicted conservative police-state approach to border management based on obsolete use of state coercion apparatuses that permit police brutality; inspired by a negative ultra-nationalism and indulging in inherently impracticable tradition of unilateral border closure”. The border closures, he added, also violate basic human rights, especially of border communities and Nigeria’s obligations to neighbouring sovereignties.

    So, if Buhari has such a past, including retroactively executing drug offenders, a proclivity for clannish policies, intolerance of contrary views, sense of impunity and repeating the same policies, using the same methods but expecting different results, why did Nigerians return him to power as an elected President?

    Spanish philosopher, George Santayana may have an answer: “Those who do not remember the past are condemned to repeat it.” Former British Prime Minister, Winston Churchill has a not too dissimilar view: “Those that fail to learn from history are doomed to repeat it.”

    Revolutionary philosopher and political economist, Karl Marx might have had Nigeria and Buhari in mind when he argued: “History repeats itself, first as tragedy, second as farce.” By this he meant that humans who do not learn from their mistakes, are bound to repeat them with tragic consequences. Prophet Nahum said: “affliction shall not rise up the second time…” (1:9). But in Nigeria, it did. What we must do is ensure it does not arise a third time.

  • Food, cooking gas, kerosene prices continue to soar in Nigeria

    Food, cooking gas, kerosene prices continue to soar in Nigeria

    The National Bureau of Statistics (NBS) has disclosed that the prices of selected food items increased in December 2022.

    This is according to the NBS Selected Food Prices Watch Report for December 2022 released in Abuja on Friday.

    The report said that the average price of 1kg beef boneless on a year-on-year basis, increased by 28.75 per cent from N1,846.39 recorded in December 2021 to N2,377.29 in December 2022.

    “While on a month-on-month basis, 1kg beef boneless increased by 1.70 per cent from N2,337.46 recorded in November 2022. ”

    It showed the average price of 1kg rice (local, sold loose) increased on a year-on-year basis by 19.21 per cent from N424.62 in December 2021 to N506.17 in December 2022.

    “On a month-on-month basis, the average price of this item increased by 1.07 per cent from N487.47 recorded in November 2022. ”

    The report said the average price of 1kg of tomato on a year-on-year basis rose by 28.40 per cent from N357.03 in December 2021 to N458.42 in December 2022.

    “Also, on a month-on-month basis, 1 kg of tomato increased by 0.72 per cent from N455.13 recorded in November 2022. ”

    The report showed that the average price of 1kg brown beans (sold loose) rose by 18.45 per cent on a year-on-year basis from N494.83 recorded in December 2021 to N586.14 in December 2022.

    “While on a month-on-month basis, the price rose by 1.321 per cent from N578.55 recorded in November 2022.”

    The NBS said the average price of Palm oil (1 bottle) increased by 28.73 per cent from N795.57 in December 2021 to N1,024.13 in December 2022.

    ”On a month-on-month basis, the item grew by 1.74 per cent from the N 1,006.64 recorded in November 2022.”

    Also, it said the average price of Vegetable oil (1 bottle) stood at N1,161.76 in December 2022, showing an increase of 29.60 per cent from N896.39 recorded in December 2021.

    “On a month-on-month basis, it rose by 1.64 per cent from N1,142.99 recorded in November 2022.”

    The report said the average price of a yam tuber stood at N494.83 in December 2022, showing an increase of 18.45 per cent from N494.83 in December 2021.

    “On a month-on-month basis, one tuber of yam increased by 1.31 per cent from N578.55 recorded in November 2022. ”

    Similarly, it said the average price of 1kg of onion bulb rose by 25.64 per cent on a year-on-year basis from N346.96 in December 2021 to N435.93 in December 2022.

    “While on a month-on-month basis, the price rose by 2.40 per cent from N425.71 recorded in November 2022.”

    The report said at the state level, the highest average price of rice (local, sold loose) was recorded in Rivers at N655.92, while the lowest price was recorded in Jigawa at N386.01.

    It said Cross River recorded the highest average price of 1kg onion bulb at N1,013.96, while the lowest was reported in Kogi with N198.12.

    The report said Ebonyi recorded the highest average price of beans (brown, sold loose) at N901.74, while the lowest was recorded in Kebbi state at N368.56.

    Also, the report said Imo recorded the highest price of Vegetable oil (1 bottle) at N1,597.22 while Benue recorded the lowest price at N702.78.

    It said Akwa Ibom recorded the highest average price of a tuber of yam at N850.23 while Benue recorded the lowest price at N180.76.

    Analysis by zone showed that the average price of 1kg beef boneless was higher in the South-East and South-South at N2,936.49 and N2,647.59, respectively.

    “While the lowest price of the item was recorded in the North-East at N1,989.86”

    The report said the South-South recorded the highest average price of 1kg rice (local, sold loose) at N564.34 followed by the South-West at N528.36, while the lowest price was recorded in the North-West at N447.05.

    Also, it said the North-West recorded the highest average price of Palm oil (1 bottle) at N1,161.44, followed by the South-East at N1,142.67, while the North-Central recorded the lowest price at N792.69.

    Cooking gas price increased by 27% in one year – NBS

    Similarly, the NBS disclosed the average price of 5kg of cooking gas increased from N3,594.81 in December 2021 to N4,565.56 in December 2022.

    This is contained in the Bureau’s “Cooking Gas Price Watch’’ for December 2022 released on Friday in Abuja.

    The report said the December 2022 price represented a 27 per cent increase compared to what was obtained in December 2021.

    The report said on a month-on-month basis, the price rose by 0.36 per cent from N4,549.14 recorded in November 2022 to N4,565.56 in December 2022.

    On state profile analysis, the report showed that Kwara recorded the highest average price of N4,950.00 for refilling of a 5kg cooking gas, followed by Adamawa at N4,933.33, and Plateau at N4,917.50.

    It said on the other hand, Anambra recorded the lowest price at N4,182.14, followed by Abia and Rivers with N4,196.15 and N4,207.27, respectively.

    Analysis by zone showed that the North-Central recorded the highest average retail price of N4,841.07 for 5kg cooking gas, followed by the North-East at N4,593.99.

    “The South-East recorded the lowest average price at N4,386.39.for 5kg cooking gas.’’

    The NBS also said the average retail price for refilling a 12.5kg cooking gas rose by 0.67 per cent on a month-on-month basis from N10,180.88 in November 2022 to N10,248.97 in December 2022.

    “On a year-on-year basis, this rose by 39.78 per cent from N7,332.04 in December 2021.’’

    State profile analysis showed that Benue recorded the highest average retail price of N11,250.00 for 12.5kg cooking gas, followed by Cross River at N10,892.86 and Ebonyi at N10,753.57.

    On the other hand, the report showed that the lowest average price for 12.5kg of cooking gas was recorded in Yobe at N9,500.00, followed by Zamfara and Gombe with N9,706.25 and N9,750.00, respectively.

    Also, the average retail price per litre of kerosene rose to N1,104.61 in December 2022 on a month-on-month basis, showing an increase of 1.94 per cent compared to N1,083.57 recorded in November 2022.

    According to its National Kerosene Price Watch for December 2022, on a year-on-year basis, the average retail price per litre of kerosene rose by 136.04 per cent from N467.97 in December 2021 to N1,104.61 in December 2022.

    Analysis by state showed that the highest average retail price per litre of kerosene was recorded in Abuja at N1,383, followed by Akwa Ibom at N1,341 and Cross River at N1,300.

    “On the other hand, the lowest price was recorded in Bayelsa at N864, followed by Jigawa at N904 and Rivers at N916.’’

    The NBS said that analysis by zones showed that the South-East recorded the highest average retail price of kerosene at N1,203 per litre, followed by the South-West at N1,177, while the North-West recorded the lowest at N1,011.

    The report showed that the average price of a gallon of kerosene was sold at N3,753 in December 2022, indicating an increase of 4.42 per cent from N3,594 in November 2022.

    “On a year-on-year basis, this increased by 137.15 per cent from N1,582.73 in December 2021.’’

    State profile analysis showed that Abia recorded the highest average retail price per gallon of kerosene at N4,546, followed by Kwara at N4,515 and Enugu at N4,426.

    It said Borno recorded the lowest price at N2,750, followed by Gombe and Bayelsa at N2,775 and N2,814, respectively.

    Analysis by the report indicated that the South-East recorded the highest average retail price per gallon of Kerosene at N4,337, followed by the North-Central at N3,967, while the North-East recorded the lowest at N3,378.

  • Global economic growth projected to slow in 2023

    Global economic growth projected to slow in 2023

    Global economic growth was projected to slow to 1.7 per cent in 2023, 1.3 percentage points below the forecast made in June last year.

    Marking its third-weakest pace in nearly three decades, the World Bank Group said in its latest Global Economic Prospects release.

    Given such adverse shocks as high inflation, rising interest rates, sluggish investment and the Ukraine crisis, global growth has slowed “to the extent that the global economy is perilously close to falling into recession.’’

    The downgrade reflected synchronous policy tightening aimed at containing very high inflation, as well as deteriorating financial conditions, declining confidence and energy supply disruptions, it said.

    Noting that the adjusted global growth forecast is overshadowed only by the 2009 and 2020 global recessions, the report said in 2024.

    The global economy was on track to grow by 2.7 per cent.

    More specifically, the report said that growth for advanced economies was projected to slow to 0.5 per cent in 2023, 1.7 percentage points below the June forecast.

    U.S. economic growth forecast for this year has been downgraded by 1.9 percentage points to 0.5 per cent.

    The weakest performance outside of recessions since 1970.

    The Eurozone economy was projected to grow at 0 per cent, down 1.9 percentage points from the previous forecast.

    Meanwhile, the report said that growth for emerging and developing economies is projected to slow to 3.4 per cent in 2023, 0.8 percentage points below the June forecast.

    It added that global trade volume will grow 1.6 per cent this year, down 2.7 percentage points from the previous forecast.

  • What is new in the New Year? – By Hope O’Rukevbe Eghagha

    What is new in the New Year? – By Hope O’Rukevbe Eghagha

    It is New Year, that is, it is New Year’s Day, or, a day, a week after New Year’s Day. A new year it ought to be. But the New Year sometimes ominously carries the putrefaction of the old year, its entrails, its betrayals, its insecurities, and uncertainties, and the killing of innocent people. It has not emptied its belly of the aches and turbulence of the period before. It still carries the pains, trauma, and triumphs of the previous year. This is despite what we believe, which often is an illusion, that the old year always vanishes with its wahala into oblivion, never to return!

    1st of January is first day of the calendar year. But 31st of December does not, cannot obliterate the angst of the dying year. These are just numbers. But there ought to be a break a severance from the past. In his wisdom, Man had always developed rituals – of atonement, restitution, purgation or purification – that will extricate him from the bondage and evils of the past. This we find in most societies that still harbour and practice respect for the sacred values of human existence, as in the crossover night services made popular by evangelicals and the Pentecostal Movement. At such times, we believe, as T.S. Eliot eloquently expresses in these poetic lines: For last years words belong to last year’s language/And next year’s words await another voice/And to make an end is to make a beginning!

    The concept of a new beginning is essentially psychological. No? is there something tangible we witness clearing the way for a new season? No! it is perception, or faith anchored on the belief system of an individual or society. Time is cyclical. It is a concatenation of experiences. There is no stopping, no pause in physical terms except when the life of a man ceases. So, it is a frame of the mind, a perception that gives us some stability. Just as when we turn 50, or 60, or the magical, scripture-prescribed 70 years, and we believe that we have entered a new phase in our life’s journey. We look back and it is like yesterday. Seventy years are like yesterday, like a blink, and some experiences come blinding us with the power of infinite reality. We listen to some music and memories of our childhood come flooding us with part pleasure, part pain. So, we ask, where have those many years gone?

    Yet we often enter the New Year with great hope, enthusiasm, and optimism. We embrace the New Year with the hope that the joy of entering a new chronological date would end the misery of the previous year. It is the way of human beings. Steven Spielberg says that ‘all of us every single year, we’re a different person. I don’t think we’re the same person all our lives! It is somewhat part of our fantastic imagination. It works for some people. For some it all evaporates by second week of the New Year when with a feeling of déjà vu, the past returns to haunt them in the form of a re-occurrence. A family that is bereaved on 25th, or 27th of 31st December cannot enter the New Year with any enthusiasm. In fact, for the rest of their lives, they are likely to have a scarred memory of the dying days of the year.

    Perhaps it is trite to observe that we all have different degrees of threshold for pain, for trauma, and for the vicissitudes of life. Faith in existence in some people is higher than what dwells inside others. The good book says that ‘if you faint in times of adversity then your strength is small! We do not need to travel beyond our families, sometimes nuclear to form a conclusion about this. A philosopher once said that it is not what happens that really matters; what matters is HOW we take things that happen. Some advocate a stoic approach to disaster, to sad occurrences of any proportion. So while those around you physically lament, you are required to move on psychologically.

    Does the New Year have a spirit because it is a New Year or it is invested with a spirit to bring in a new beginning? Who invests the New Year with the spirit of the new? Does it have the capacity to summon a spirit? Is it propelled by Forces Natural or Forces Spiritual? If it does, will the spirit of the New Year accommodate everybody, the good and the bad, the believer and unbeliever? What does it mean when a man says: this is my year?

    As we enter 2023, the soaring cost of inflation is not left in the pit of the dying year. It has galloped into the New Year to wait for all wayfarers. As we enter 2023, insecurity is not going to lie prostrate in the dying year because the spirit of 2022 may never really die. Last Thursday, a man died while queuing for petrol in Oyo State. Can the family forget the pain because we are in 2023? The evil men who manipulate governance have not purged themselves so the spirit of exploitation and state robbery, lack of respect for the citizenry, and disregard for the rule of law. Even some of the noisy religious leaders have not purged themselves of the evils of the outgoing or outgone year. How will there be a new spirit? Therefore, I will judge you O ye House of Israel, says the Holy Book, everyone according to his ways!

    The old year lives in the new year. But we must still rejuvenate ourselves, still psychologically prepare ourselves. The governors of the land should rejuvenate the land with welfare policies that can renew faith. Governments often do this through budgeting and special announcements given in the New Year Speech. The hunger that ravaged the stomachs of Nigerians will not simply go away because we have entered 2023. There must be concrete steps to make life bearable. University lecturers’ angst and disenchantment with the incumbent APC government will not go away because we are in 2023. Indeed, because it is 2023, academics cannot wait for an opportunity to get rid of a government that has been so anti-intellectual, insensitive, and unduly combative. “Two things are infinite”, writes a philosopher, “the universe and human stupidity: I’m not sure about the universe!

  • The choice before Nigerians – By Promise Adiele

    The choice before Nigerians – By Promise Adiele

    By Promise Adiele

    I first encountered the phrase “illusion and reality” during my formative years as a literary disciple in the Department of English, University of Lagos. Shakespeare’s classic Merchant of Venice provides an immediate platform for the critical explication of “illusion and reality”. In the play, beyond the covetous and mercantile disposition of Shylock, there is the sub-thematic hierarchy of choice for those seeking the hand of Portia in marriage.

    The Prince of Morocco made a choice. He chose gold in all its glittering, mesmerizing glory but it was the wrong choice. The Prince of Arragon chose silver. But it was the wrong choice too. However, Bassanio chose the less glamorous lead and it was the correct choice. The incident popularizes the potential of another phrase “all that glitters is not gold”. It is at once a piece of advice and admonishment for those irredeemably inclined to enticing appearance as against reality. Joshua in the Holy Book encouraged the Israelites to make a choice. In his words “choose you this day whom ye will serve, whether the gods which your fathers served or the gods of the Amorites. But as for me and my household, we will serve the Lord”.

    Nigerians face a simple choice in 2023 between illusion and reality. The incidents in Merchant of Venice and the Holy Book provide a concise metaphor as a guide towards the choice before Nigerians. It is a choice which will determine the slant of posterity in the country. It is a choice between obvious illusion and staggering reality. It is a choice to either remain in the doldrums with dehumanizing conditions or break away from the past and chat a new course for the country. It is a choice between suffering and smiling – with due respect to Fela, the Afrobeat legend. Choices have consequences, which is an interesting thing about them.

    While objective choices are informed by reason, blind choices are informed by cosmetic, short-term, selfish considerations. The first consideration of an objective choice is selflessness and the advancement of humanity while the first consideration of blind choice is greed and personal satisfaction. In any case, the choice before Nigerians is straightforward – make a wrong choice and continue to wallow in the pit of hardship, inflation, insecurity, and death. Make a correct choice and steer your destiny into the path of gradual recovery, safety for all, and economic emancipation.

    There is a pervading illusion in Nigeria now which paints the picture of wellness. It is an illusion maintained and sustained by those who benefit or have the potential to benefit from the system. Many Nigerians have unfortunately latched onto the deceptive narrative that the country is doing well, therefore the APC government deserves a renewal of its mandate.

    It is a monumental illusion to think that because millions of people wake up every day and hit the streets, returning in the evening time to their homes, therefore all is well. It is an illusion of an extended proportion that Nigerians are safe in their country. I do not want to recount what is going on in Southern Kaduna, the whole of North East or the bloodbath that has become the order of the day in the South East. It is a great illusion to believe that since a few people in the country can afford three square meals every day, therefore everyone is happy.

    Since corrupt politicians and their cronies can throw crumbs at a famished populace as an inducement, everything is alright. But illusion is deceptive and can lead people to eternal damnation. Illusion, like a façade, prevents a choice maker from accessing hidden reality. In 2015, Nigerians were hypnotized by the illusion of Change as they raced towards a mirage. Today, they know better.

    Reality always adorns the garment of mercilessness even though millions of people prefer to live in denial. In Nigeria, reality is palpable, it can be touched and cut with a knife. No amount of deception or pretense can take away from the realities in Nigeria. The reality is that beyond all the razzmatazz and make-belief all around the country, 133 million people are living below the poverty line. That is a fact.

    Families are suffering under the weight of inflation and economic strangulation. The hardship in Nigeria is beyond description. In the current yuletide season, many families could hardly afford to feed amid the skyrocketing cost of essential commodities. With a bag of rice at N52, 000 it is a luxury undefined for the millions of poor folks who cannot afford it. The reality in Nigeria is that corruption has assumed statecraft with government officials stealing amounts that tingle the ears. The conscientious observer is daily appalled by the reality that Mr. President Muhammadu Buhari is not completely in charge of Nigeria.

    Insecurity holds the country by the jugular. The reality is that in the unfortunate circumstance APC wins the presidential elections, these conditions will worsen and the country will continue to retrogress unhindered.

    Having presented the two situations of illusion and reality above, the choice before Nigerians should ordinarily become clearer. But regrettably, the choice is made difficult by those who desperately and continually obfuscate the reality in Nigeria for their selfish ends. Many people in Nigeria are committed to defending and rationalizing all the realities in Nigeria, thus misleading millions of the ill-formed masses who, like the plebeians are fickle-minded and react to the dictates of their material needs. The haters of Nigeria do not care if the country goes to blaze and burns to ashes.

    For them, the economy is doing excellently well. There is no corruption in the land. The length and breadth of the country are secured. There are no criminal presidential aspirants. Nigeria is in its best condition. Those who identify the anomalies in the country should be hounded and erased from the soil. The haters want 2023 to come quickly so that INEC will be compromised and election figures manipulated to reflect the interest of a few, misguided fellows. The haters of Nigeria are against BVAS and the INEC chairman. They do not believe in fairness because they are products of a mangled system.

    Nigerians must make choose between illusion and reality. The illusion is that those stealing trillions from the exchequer are celebrated as saints while the reality is that their pilfering has grounded the country’s economy. While it is encouraging that millions of youths are ready and prepared to enthrone a new Nigeria by making the right choice, it galls the soul that millions of those who will make the choice care less about the future. They are interested in stomach infrastructure and will easily endorse those who have impoverished them. If Nigerians can set aside cosmetic considerations like ethnicity and religion, if Nigerians can react swiftly and make the right choice in 2023, then the revival of the country will start in earnest.

    As the Biblical Joshua urged the Israelites to either choose the outdated gods of their forefathers, a concise metaphor for old, infirm presidential aspirants in Nigeria or choose a bright future heralded by a vibrant Christ, the choice is easy before Nigerians.

     

    Promise Adiele PhD
    Mountain Top University
    Promee01@yahoo.com
    Twitter: @Drpee4

  • We have enough food to feed Nigerians – FG

    We have enough food to feed Nigerians – FG

    The Federal Government on Monday assured the citizens that the country had enough to eat and there would be no shortage of food.

    The Minister of Agriculture and Natural Resources, Dr Mohammad Abubakar, gave the assurance on Monday in Abuja at the fifth edition of the President Muhammadu Buhari (PMB) Administration Scorecard 2015-2017 series.

    The scorecard series is organised by the Ministry of Information and Culture to showcase the achievements of the President Buhari’s Administration in over seven years of being in office.

    Responding to questions after his presentation, Abubakar said the inflationary trend, a global phenomenon and the flood disaster notwithstanding, the country would not experience food shortage.

    “Absolutely, we have enough to eat in this country, there is no shortage of food. There can be increase in prices Yes, it is better to have inflation than to have no food.

    “We are self-sufficient in rice and we are number one producer of rice in Africa and number four in the world.

    “We are also number one producer of cassava and yam as well as number two producer of sorghum after America and number three producer of millet.

    “We have enough to eat and we will continue to have enough to eat,” he stressed.

    The minister said the inflationary trend the country was witnessing was not peculiar to Nigeria but a global crisis.

    He attributed climate change and the effects of COVID-19 pandemic and the Ukraine-Russia war as among the reasons for the global inflation.

    “Three weeks ago a friend of mine living in London, said to me that it usually costs him like five pounds to fuel his car for a week.

    “He said now it is costing him about 100 pounds to fuel the same car for one week,” Abubakar said.

    On the destruction caused by flooding to many farmlands, the minister said farmers were embarking on aggressive dry season planting to mitigate the effects.

    He said the ministry was already distributing fast growing seeds in areas where flood waters had receded and the moisture there would assist the plants to grow rapidly.

    The minister added that they had harnessed some of the flood water which would be used for the dry season farming.