• I’m Working Day and Night to Solve Our Challenges – Tinubu Assures Nigerians in Eid al-Adha Message
• Lagos State Govt Approves Collection of Vehicle Ownership Verification Fee
• Nigeria Faces High Inflation Crisis as World Bank Reports Millions Pushed into Poverty
• Lagos Residence of NLC President Joe Ajaero Razed by Fire
• EU Mission Calls for Reforms to Address Systemic Weaknesses Exposed in Nigeria’s General Election

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss

I’m Working Day and Night to Solve Our Challenges – Tinubu Assures Nigerians in Eid al-Adha Message

In his Eid al-Adha message, President Bola Tinubu reaffirmed his commitment to finding solutions to the pressing issues facing Nigeria. He expressed confidence in the decisions made by his administration, emphasizing their potential to revitalize the economy and eliminate obstacles hindering progress.

President Tinubu urged Nigerians to reflect on the true essence of Eid-al-Adha and extend their thoughts to the less privileged. Joining Muslims across Nigeria and around the world in observing the occasion, he acknowledged his gratitude for another year of witnessing this significant event.

The President emphasized the importance of mercy and compassion, calling upon Muslims to embody these virtues during Eid-al-Adha. Drawing inspiration from the remarkable story of Prophet Ibrahim’s sacrifice, he highlighted the unparalleled sense of duty demonstrated by the Prophet’s willingness to offer his son Ismail as a sacrifice to Allah.

President Tinubu underscored the relevance of Prophet Ibrahim’s values in contemporary society, emphasizing complete devotion to Allah, tolerance, patience, perseverance, selflessness, love, and compassion. He urged Nigerians to follow these principles in their interactions with fellow citizens and in fulfilling their responsibilities to the nation.

During this challenging period of economic struggle and simmering security issues, President Tinubu acknowledged the difficulties facing the country. However, he assured Nigerians that these challenges were not insurmountable. Working tirelessly with his team, he is diligently developing solutions and has already initiated measures to reform the economy and remove obstacles hindering growth.

President Tinubu encouraged Nigerians to embrace the present challenges while approaching the future with renewed vigor and hope. He instilled confidence in a better and brighter tomorrow, assuring the nation that their collective efforts would lead to a prosperous future.

Lagos State Govt  Approves Collection of  Vehicle Ownership Verification Fee

The Lagos State Government has given its approval for the collection of a vehicle ownership verification fee of N1,000, as introduced by the Federal Government. This information was conveyed by Abdulhafiz Toriola, the Permanent Secretary of the Ministry of Transportation, during a press briefing held in Lagos on Tuesday.

The implementation of this new policy is scheduled to take effect in Lagos State from July 2023. The objective of this initiative is to streamline and improve the process of vehicle ownership verification, specifically the issuance of the annual Proof of Ownership Certificate (POC), according to Toriola. The introduction of this initiative aligns with the provisions outlined in the National Road Traffic Regulation 2012, as amended, No. 101, Vol. 99; Section 73 (1).

Toriola explained that the Federal Government has mandated the issuance of an annual Proof of Ownership Certificate for all registered vehicles. This certificate will serve as official documentation of a vehicle’s legal ownership, once the necessary requirements and procedures have been successfully completed. The Proof of Ownership Certificate (POC) will contain essential information, including the vehicle’s registration details such as license number plate, model, year of manufacture, as well as the owner’s name and address.

Among its various objectives, this decision aims to enable the real-time tracking of the status and integrity of all vehicles registered in the National Vehicle and Identification Scheme (NVIS) database. Toriola emphasized that the implementation of the Proof of Ownership Certificate (POC) is based on the enhanced safety and security it offers. As a result, Mr. Babajide Sanwo-Olu, the Governor of Lagos State, has approved its commencement in Lagos State. The purpose of the press briefing was to provide public awareness and enlightenment regarding this new development.

Nigeria Faces High Inflation Crisis as World Bank Reports Millions Pushed into Poverty

According to the World Bank’s Nigeria Development Update for June 2023, Nigeria is grappling with one of the highest inflation rates globally, resulting in an estimated four million people falling into poverty between January and May 2023. The World Bank also cautioned that if the Nigerian government fails to compensate or provide palliatives following the removal of fuel subsidy, an additional 7.1 million poor Nigerians would be affected.

Data from the World Bank indicates that at the beginning of the year, 89.8 million Nigerians were living in poverty. However, this number increased to 93.8 million as an additional four million people slipped into poverty during the first five months of the year. If the government does not provide assistance to vulnerable citizens affected by the fuel subsidy removal, the projection suggests that the number of poor Nigerians could rise to 100.9 million.

The World Bank’s Nigeria Development Update report highlighted that the surge in inflation in Nigeria, reaching a 17-year high, can be attributed to several factors, including the Central Bank of Nigeria’s funding of the budget deficit, multiple exchange rates, devaluation, and trade restrictions. The report emphasized the urgent need for reform efforts due to Nigeria’s fiscal imbalance, which has contributed to high inflation over the years. In 2022, inflation escalated significantly, and in 2023, it continued to rise at a rapid pace, reaching 22.4 percent year-on-year in May.

Efforts by the Central Bank of Nigeria to control inflation, such as raising the monetary policy rate, proved ineffective in the first half of the year. The loss of purchasing power resulting from high inflation has led to an increase in poverty, with an estimated four million Nigerians falling below the poverty line between January and May 2023.

The National Bureau of Statistics recently reported that inflation in Nigeria soared to 22.41 percent in May, the highest in nearly two decades. Additionally, the National Multidimensional Poverty Index revealed that 133 million Nigerians experience multidimensional poverty, with 63 percent of the population lacking access to health, education, living standards, employment, and security.

The World Bank’s report also highlighted that with the removal of fuel subsidy, approximately 7.1 million people are at risk of plunging into poverty if the government fails to provide compensation. The removal of the subsidy has resulted in a significant increase in petrol prices, adversely affecting poor households. The report stressed the importance of compensating transfers to shield Nigerian households from the initial price impacts of the subsidy reform.

The World Bank commended the Nigerian government for the removal of the subsidy and FX management reforms, considering them crucial steps to rebuild fiscal space and restore macroeconomic stability. However, it emphasized the need for further comprehensive policy reforms to enhance long-term growth prospects for the country.

Lagos Residence of NLC President Joe Ajaero Razed by Fire

The Lagos home of Comrade Joe Ajaero, President of the Nigeria Labour Congress (NLC), was devastated by a fire incident. The entire building was engulfed in flames after a peculiar noise was heard from the roof, initially mistaken for the presence of domestic animals.

The inferno quickly spread, leaving the building completely destroyed. Occupants of the residence managed to escape to safety, but nothing could be salvaged from the ravaging flames.

At the time of the incident, Ajaero was reportedly out of the country in Geneva. Expressing gratitude to God, Ajaero acknowledged that there were no casualties resulting from the fire.

It is worth noting that the NLC, under Ajaero’s leadership, recently called for a nationwide strike in response to the removal of fuel subsidy by President Bola Tinubu. However, following intervention and negotiations by the Federal Government, the strike was subsequently suspended.

EU Mission Calls for Reforms to Address Systemic Weaknesses Exposed in Nigeria’s General Election

The European Union (EU) election observation mission has released its final report on Nigeria’s recent general election, stating that it exposed enduring systemic weaknesses that require correction. The report, presented in Abuja by Chief Observer Barry Andrews, emphasized the need for legal and operational reforms to enhance transparency, inclusiveness, and accountability in future elections.

The mission commended Nigerian citizens’ commitment to the democratic process, particularly highlighting active youth engagement in the voter registration process. However, the collection of permanent voter cards (PVC) was hindered by poor institutional planning and a lack of transparency. The report suggested that an external independent audit of the voter register would be beneficial to ensure accuracy and inclusiveness.

The chief observer pointed out that various factors, including cash scarcity, violence, and interference by governors, contributed to a flawed democratic process. The scarcity of the Nigerian currency and fuel negatively affected voter participation on election day. The report also highlighted cases of undue interference by governors, internal party conflicts, campaign-related violence, and criminal acts such as assassinations that disrupted the elections and suppressed voter participation. The weakness in the legal framework for electoral offenses, including the misuse of state resources, intimidation, and vote-buying, contributed to inadequate enforcement.

The EU mission expressed concern over the damage to public confidence in the Independent National Electoral Commission (INEC) due to operational failures and lack of transparency. While the commission introduced some positive measures, they did not restore overall trust, leading civil society to call for an independent audit of the entire process. The report criticized the lack of transparency in the use of the bimodal voter accreditation system (BVAS) and the INEC results viewing portal (IReV), which undermined the integrity and credibility of the elections. It recommended establishing a robust operational framework for electoral administration and a transparent mechanism for selecting INEC commissioners based on merits, qualifications, and non-partisanship.

The EU mission also criticized fines imposed on media houses by the National Broadcasting Commission (NBC), stating that they were carried out without due process and restricted analytical reporting.

The report highlighted low levels of inclusion, particularly concerning the limited participation of women in the general election. It noted a decline in women’s participation since 2007 and called for urgent affirmative action to address discrimination and increase women’s representation in elected positions.