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Stakeholders, consumers worry as prices of flour, bread soar
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Presently, Nigerians, especially those from humble backgrounds, are facing challenging times as the affordability of basic necessities, particularly bread, diminishes. Bread, once a staple for the poor due to its accessibility and low cost, has become increasingly unaffordable. The escalating prices of food items have exacerbated the plight of the masses, leading to malnutrition and hunger-related deaths. The pervasive inflationary trend has impacted all facets of life, including food prices. Moreover, the devaluation of the Naira in the global market has further exacerbated economic hardships for Nigerian households.
Recent protests in Niger and Kano States highlight public discontent over the soaring cost of living. Despite these grievances, the government has struggled to find solutions, particularly in addressing the consistent rise in wheat flour prices, the primary ingredient for bread. Bread producers and consumers alike are grappling with the unprecedented price hikes, prompting demonstrations and calls for urgent government intervention.
In the northern regions, Gurasa, a local bread variant, serves as a vital sustenance for many, especially the economically disadvantaged. The protests feature demands for governmental action, underscored by placards expressing frustrations over inflation, flour price hikes, and widespread hunger.
Two main arguments emerge to explain the bread crisis: one attributes it to the removal of fuel subsidies, which has led to increased transport costs, while the other points to the depreciation of the Naira against the dollar. Both factors contribute to the escalating costs of flour and other essential commodities, plunging many bread producers out of business.
While the fuel subsidy removal advocates blame the policy for exacerbating transportation costs and, consequently, bread prices, those highlighting the Naira depreciation argue that imported wheat flour’s cost is directly impacted by the currency’s exchange rate.
For bread consumers, the situation is dire, with prices doubling within a short period, making it unaffordable for many low-income families. The prevailing sentiment among citizens is one of frustration and urgency, urging the government to address the crisis promptly to avert a potential humanitarian disaster.
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Nigerians may end up buying petrol for N5,000 per litre under Tinubu – NLC
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Benson Upah, spokesperson for the Nigeria Labour Congress (NLC), has cautioned that Nigerians might eventually face petrol prices of N5,000 per litre.
In an interview with Weekend Trust, Upah criticized the recent increase in fuel pump prices and argued that it contradicts the agreement previously made between the NLC and President Bola Tinubu’s administration.
He asserted that the Federal Government’s claims of restoring the fuel subsidy are untrue.
Upah remarked, “The subsidy was never reinstated as they have stated. So, what justifies the rise in pump prices from N650 to N1,500 or even N2,000?
“This situation suggests that we might not have seen the worst yet. There is a possibility that fuel prices could reach N5,000 per litre. We hope it doesn’t come to that, but if it does, it will be up to Nigerians to make the decision.”
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Students Loan: NELFUND receives another N2m refund
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The Nigerian Education Loan Fund (NELFUND) has announced the receipt of a two million Naira bank draft from Adegboyega Awomolo, SAN, a former student loan beneficiary.
This information was disclosed in a statement by Monalisa Dike from the Corporate Communications Department of NELFUND on Friday in Abuja.
Dike noted that Awomolo had received the loan during his undergraduate studies at the University of Ife (now Obafemi Awolowo University) from 1975 to 1977.
She mentioned that Awomolo had fully repaid the loan, showing his strong commitment to the country.
“The original loan amount was N1,000 for two academic sessions, which played a crucial role in his completion of the law degree.
“Although Awomolo had attempted to repay the loan several times over the years, he was only able to settle it now.
“In his letter to NELFUND’s Managing Director, Mr. Akintunde Sawyerr, Awomolo expressed his appreciation for the student loan opportunity provided by the Nigerian government,” Dike said.
She added that Awomolo praised the transparency and accountability NELFUND has shown in managing student loans.
Dike emphasized that Awomolo’s repayment highlights the enduring impact of President Bola Tinubu’s initiative and NELFUND’s continued importance in supporting Nigerian students.
She also mentioned that the repaid funds will be used to support the education of current students in need of loans.
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NDDC warns on fraudulent Youth Internship Scheme
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The Niger Delta Development Commission (NDDC) has issued a warning to the public about scammers pretending to represent the NDDC Youth Internship Scheme.
The NDDC also noted that registration for the scheme ended on August 31, 2024.
This information was released in a statement on Friday by Seledi Thompson-Wakama, Director of Corporate Affairs at the commission, and shared with DAILY POST.
The statement reads, in part: “We have received reports of individuals receiving unsolicited messages claiming they have been selected for the NDDC Internship Scheme, which includes requests for personal information and an acceptance fee.
“The NDDC does not charge any fees for placing qualified youths in its internship programme. We want to make it clear that these fraudulent selection messages are not affiliated with the NDDC.
“Any official communication from us will only come through our verified websites and social media channels. If you receive a message like this, please ignore it and report it to the relevant authorities. Your safety and privacy are our top priorities.
“For genuine inquiries about our empowerment programs, please contact us directly through our official channels.”
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