As MPC Meets Tomorrow, Recession, Rising Inflation to Top Agenda Analysts advocate retention of MPR at 12 %
Kunle Aderinokun Coming at a time the federal government admitted that the economy was ‘technically in recession’, the 251st edition of the Monetary Policy Committee (MPC) of the Central
Bank of Nigeria (CBN) meeting which begins tomorrow will dwell on measures to halt the gradual slide into recession and rising inflation. Discussions at the MPC meeting are also expected to dwell on the appraisal of
the newly introduced flexible forex policy, energy shortages on productivity and effect of pipeline vandalism on revenue accruing to the treasury. More importantly, the forecast of the International Monetary Fund (IMF) that the Nigerian
economy would contract by 1.8 per cent this year and the subsequent admission by the Minister of Finance, Kemi Adeosun, that the economy was ‘technically in recession’, are issues that would preoccupy tomorrow’s
MPC meeting. Rising inflation, economic analysts observed, has been a source of concern to policy makers. Just last week, the National Bureau of Statistics (NBS) announced 16.6 per cent as the figures for the
June consumer price index (CPI), which measures inflation. This month’s CPI, an 11-year high, represents 0.9 per cent rise from 15.58 per cent of the previous month Continued on page 6
Sultan Heads for US This Week to Meet White House Officials ...Page 9
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PDP Senators: We are not Plotting Buhari’s Impeachment Omololu Ogunmade in Abuja Senators on the platform of Peoples Democratic Party (PDP) yesterday denied reports that they were planning
to commence impeachment moves against President Muhammadu Buhari. The senators, in a statement jointly signed by leaders of PDP caucus which
include Senate Minority Leader, Godswill Akpabio, Minority Whip, Philip Aduda and Deputy Minority Whip, 'Biodun Olujimi, described any claim of im-
peachment plot against President Buhari as “false, baseless and unfounded.” The denial came against the background of a letter from a former Chairman of
PDP Board of Trustees (BoT), Chief Tony Anenih, advising the Chairman, National Caretaker Committee of the party, Senator Ahmed Makarfi, to “dissuade the PDP
Caucus in the National Assembly from participating in the alleged 'ill advised' adventure of removing PresiContinued on page 6
In a Major Breakthrough, DSS Nabs Key Militant Leader, Mastermind of Coup Rumour
Defence chief says aviation fuel scarcity hampering counter-terrorism operations in North-east Army finds five of the soldiers missing after Boko Haram ambush
Senator Iroegbu in Abuja Armed groups behind the onslaught on the oil infrastructure in the Niger Delta suffered a major blow last week as the Department of State Services announced yesterday that it had arrested a key militant leader suspected to be the brains behind some recent devastating attacks. Jones Abiri aka General Akotebe Darikoro, the leader of the Joint Revolutionary Council of the Joint Niger Delta Liberation Force, according to the DSS, was arrested on July 21 in Yenagoa. Darikoro was alleged to have coordinated the vandalism of the Nigeria Agip Oil Company trunk line at Ogboinbiri, in Southern Ijaw Local Government Area, and the bombing on July 8 of an oil pipeline belonging to Shell Petroleum Development Company at Brass Creek, all in Bayelsa State. The attack on the two oil facilities caused a huge setback in the country’s crude oil production. DSS said the arrested miliContinued on page 6
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CELEBRATING LKJ
L-R: First military governor of Lagos State, Brig-Gen. Mobolaji Johnson; celebrant/first civilian governor of Lagos State, Alhaji Lateef Jakande,his wife, Alhaja Abimbola Jakande,and one-time military governor of the state,Rear Admiral Ndubusi DAN UKANA Kanu, at Jakande's 87th birthday celebration in Lagos ...yesterday
WEEKLY PULL-OUT
CHIKA IKE
TOUCHING LIVES IN MANY WAYS
24.07.2016