22 Feb

Daily Watch – Buhari ‘won’t devalue Naira’, Unions insist new electricity bill is blackmail

  • President Muhammadu Buhari has again rejected any suggestion that the naira – officially trading at between N197-N199 while almost N400 in the black market – will be devalued to reflect the true market realities. The President reiterated his stance against naira devaluation, insisting that Nigeria is not at par with developed countries that produce to compete among themselves and can therefore afford to devalue their respective currencies.
  • Governor of Lagos state, Akinwunmi Ambode has announced that the Blue Line of the state’s light rail project will be ready by December. Ambode also announced that the state was concluding on the channelisation of the waterways in Lagos to improve water transport, encourage investment, and reduce the pressure on road networks.
  • The Nigeria Labour Congress and the Trade Union Congress have warned electricity distribution companies against blackmailing Nigerians with threats of blackout following the Senate’s advice that a 45 per cent increase in electricity tariff be reverted. Following the order given by the Senate against the increment, the DISCOs had warned that the country may face an electricity shut-down if tariffs do not go up. However, the General Secretary, NLC, Peter Ozo-Eson, described the statement by the DISCOs as ‘mere blackmail’.
  • The Nigerian military said it has arrested two men for sneaking into a displaced person’s camps in Borno State. Suicide explosions by suspected Boko Haram terrorists in displaced persons’ camps in North-eastern Nigeria have caused the deaths of hundreds of people. The military in a statement circulated by PRNigeria on Sunday said it is currently interrogating the two men.