Good morning Nigeria. Welcome to the Naija News roundup of top newspaper headlines in Nigeria for today, Friday, 16th February 2024.

1. I Will Not Establish Price Control Board – Tinubu

The President of Nigeria, Bola Tinubu, on Thursday, noted that he will not establish a price control board or approve the importation of food as measures to address the hardship in the country.

Naija News understands that Nigerians, in the last few weeks, have taken to the streets to protest against hardship in the country.

An action which was painted by the ruling All Progressives Congress (APC) as being sponsored by the opposition parties.

Tinubu, however, while speaking on Thursday after a meeting with governors of the 36 states of the federation and the minister of the federal capital territory (FCT), at the State House, Abuja, noted that he would not approve food importation.

The President directed that the State Governments and Federal government should collaborate to increase local food production.

The President advised against the idea of food importation and price control when local food producers should be encouraged to produce more food.

2. Why President Tinubu Decided To Float The Naira – Presidency

The Presidency has said President Bola Tinubu decided to float the naira because the Central Bank of Nigeria (CBN) was spending about $1.5 billion monthly to support the naira at the official rate.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known during a recent interview on Arise News.

Onanuga claimed that some people close to the former CBN governor, Godwin Emefiele, and those close to some people in Muhmalmadu Buhari’s government, collected money at the official rate and sold it in the unofficial market.

Onanuga also said that at some point, due to the gap in the official window and the parallel market, the FDI had ‘dried up’ as people were not interested in investing in a place without stability in the exchange rate.

The presidential aide said with the floating of the naira, the gap had reduced significantly, and investments were getting secured again.

3. Details Of Tinubu’s Meeting With 36 State Governors, Others Emerge

The details of the meeting between President Bola Tinubu and the 36 state governors of the Federation under the aegis of the Nigeria Governors Forum have emerged.

Naija News earlier reported that the President, on Thursday, met with the governors inside the Council Chamber of the State House in Abuja to address the insecurity, economic situation and general hardship in the country.

The meeting also had in attendance Vice President Kashim Shettima, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, and the Inspector General of Police, Kayode Egbetokun.

Speaking with State House correspondents after the meeting, the Minister of Information and National Orientation, Mohammed Idris, said the meeting centered around the potential establishment of state police.

He said the longstanding controversy surrounding state police may be on the path to a resolution to address the worsening insecurity in the nation.

The minister said security improvements were acknowledged, focusing on enhancing forest rangers’ numeric strength and exploring the possibility of State Police.

On the food crisis, Idris said the National Security Adviser, the Director General of State Services, and the Inspector General of Police have been directed to collaborate with state governors in addressing hoarding concerns, particularly in the wake of soaring commodity prices.

Idris said the leaders emphasized the need for enhanced agricultural investments to combat food shortages, declaring a halt to food importation to bolster Nigeria’s self-sufficiency and potential as a net exporter.

4. Food Scarcity: Monitor Warehouse Hoarding Food Across The Country – Tinubu Directs IGP, NSA

President Bola Tinubu has directed the Inspector General of Police (IGP) Kayode Egbetokun, and the National Security Adviser (NSA) Nuhu Ribadu to monitor warehouses hoarding food across the country.

The directive comes as prices of food items continue to skyrocket amid rising inflation.

Naija News had earlier reported that inflation hit 29.90 per cent in January, with food inflation at 35.41.

The continued rise in the prices of food across the country and the worsening economic condition across the country has, however, triggered a series of protests across the country.

However, at a meeting with the 36 state governors on Thursday, President Tinubu directed the Inspector General of Police and National Security Adviser to stop the profiteering by merchants.

In a statement released by Special Adviser on Information and Strategy to the President, Bayo Onanuga, detailed that the President urged governors to emulate the Kano state government in dealing with those hoarding food for profiteering.

5. Housing Minister To Meet Cement Manufacturers Over Rising Price

In a proactive move to address the escalating cost of cement and other building materials, Ahmed Dangiwa, Nigeria’s Minister of Housing and Urban Development, has convened a strategic meeting with manufacturers within the industry.

This initiative, as outlined in a statement by his special adviser on media, Mark Chiese, on Thursday, aims to delve into the challenges facing the sector, with a focus on devising strategies to curb the rising prices and facilitate the provision of affordable housing across the country.

The minister expressed concern over the soaring costs of building materials, which have seen a dramatic increase despite Nigeria’s rich deposits of raw materials necessary for production.

A recent survey along the airport road indicated that the price for a 50kg bag of cement has surged to N9,000, marking a 38.8 percent increase from its previous rate of N5,500 just a week earlier.

Particularly troubling to Dangiwa is the sharp rise in cement prices, a situation he finds paradoxical given that local producers source the majority of their raw materials domestically.

This observation raises questions about the factors contributing to the disproportionate price hikes and underscores the need for collaborative efforts to find lasting solutions.

6. Tinubu Departs For Addis Ababa To Attend 37th AU Summit

President Bola Ahmed Tinubu, on Thursday, departed Abuja for Addis Ababa in Ethiopia, to attend the 37th African Union (AU) Summit of Heads of State and Government.

The president, who left the presidential wing of the Nnamdi Azikwe International Airport in Abuja around 3:00 pm was escorted by the Chief of Staff, Femi Gbajabiamila, the Minister of the Federal Capital Territory (FCT), Nyesom Wike, and presidential aides, among others.

Recall that the presidential spokesman, Ajuri Ngelelae, had, in a statement on Wednesday, said the President would leave Abuja for Ethiopia on Thursday, February 15.

Ngelale said the theme of this year’s summit is ‘‘Educate an African fit for the 21st Century: Building resilient education systems for increased access to inclusive, lifelong, quality, and relevant learning in Africa.’’

He added that the President will join other African leaders in high-level meetings on institutional reforms of the African Union; peace and security; specific thematic issues such as climate change, as well as modalities of participation and priorities of the continental body in the G20.

7. LP: Peter Obi Breaks Silence On N3.5 Billion Scandal

The Presidential Candidate of Labour Party (LP), Peter Obi, on Thursday called for a thorough investigation of the alleged financial impropriety against the National Chairman of the party, Julius Abure.

Obi made the call at a media briefing where he rendered an account of the 2023 Obi-Datti Presidential campaign organisation funding on Thursday.

He said, “For the party (LP), I am a member of the party and they have chosen to say that I am the leader. What we need to do in the party, and I have discussed it with the leadership, is that we must now appoint a reputable audit firm to audit and be able to deal with the account of the part.

“When I am involved in money, it must be transparent. So the allegations and counter allegations now must be thoroughly investigated and verified and we would reconcile it and know what exactly to do.”

8. Tinubu Approves Reappointment Of NAFDAC Boss, Mojisola Adeyeye, Others

President Bola Tinubu has approved the appointment and reappointment of the following Board Chairpersons and Chief Executive Officers (CEO) under the Federal Ministry of Health and Social Welfare.

In a statement on Thursday by his spokesman, Ajuri Ngelale, President Tinubu said the decision was in furtherance of his determination to bring world-class standards to Nigerian public health administration.

The president added that the leadership changes are to manifest his commitment to delivering affordable and quality care to all Nigerians under governance and regulatory frameworks commensurate with international best practices.

9. Nigeria’s Inflation Surges Further Hits 29.90 Per Cent In January

The National Bureau of Statistics (NBS) has revealed that the country’s inflation surged further in January 2024, hitting 29.90 per cent from the 28.92 per cent recorded in December 2023.

Naija News reports that in its latest Consumers Price Index report released on Thursday, the statistics bureau detailed that the January increase was 0.98% higher than the 28.92 rate point recorded in December 2023.

On a year-on-year basis, the country’s inflation rate rose by 8.08 per cent from 21.82 per cent recorded in January 2023 to 29.90 per cent recorded in January 2024.

10. Tinubu Govt Discontinues Sowore, Bakare’s #RevolutionNow Protest Trial

The Bola Ahmed Tinubu-led Federal Government has revealed its intention to discontinue the trial of politician and media owner Omoyele Sowore and his co-defendant, Olawale Bakare (also known as Mandate).

Naija News reports that the federal government’s decision was communicated to the Federal High Court in Abuja via a notice of discontinuance dated February 14.

The notice was filed on February 15th by the Attorney General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi (SAN).

The notice reads: “By virtue of the power conferred on me under Section 174 (1) (c} of the Constitution of the Federal Republic of Nigeria 1999 as amended, Section 107 (1) of the Administration of Criminal Justice Act 2015 and all other powers enabling me in that behalf, I Lateef Olasunkanmi Fagbemi, SAN intend to discontinue charge No: FHC/ABJ/CR/235/2019.”

Recall that Sowore and Bakare were arraigned in 2019 before the Federal High Court in Abuja for staging a protest rally in Abuja, which was tagged “Revolution Now.”