LCCI warns FG over rising inflation
Chinyere Almona, the Director-General of the Lagos Chamber of Commerce and Industry (LCCI), on Sunday warned that the increases in general price levels currently witnessed in the country have greatly reduced the purchasing power of most Nigerians.
In a statement issued on behalf of the chamber, Almona said the rising cost of living has pushed more than 133 million Nigerians into multidimensional poverty—a situation that calls for drastic solutions.
The LCCI advised that there should be a synergy between the monetary and fiscal authorities so as to arrest this worsening inflationary crisis.
Read also: Shipping costs decline as inflation squeezes consumers’ spending
NIPC engages diplomatic community on FDIs
The Nigerian Investment Promotion Commission (NIPC), has reinstated its commitment to position Nigeria as a preferred investment destination.
The Executive Secretary of NIPC, Hajiya Saratu Umar, said this at the NIPC Stakeholder Engagement Forum/Business Meeting with the Diplomatic Community in Abuja.
According to Umar, the commission is strategising to increase attractiveness and branding to position Nigeria as a constantly preferred investment destination of choice.
She said that NIPC was developing strategies to deepen Nigeria’s investment promotion drive critical for day-to-day problem-solving for established and incoming investors.
“NIPC recognises the role of the diplomatic community as critical stakeholders in investment promotion, considering that economic diplomacy is one of the pillars of the mandate undertaken by Diplomats in host countries.
“Not only do diplomats assist in delivering marketing messages to target groups of potential investors, they also manage relationships and provide the relevant information required for investors to make informed investment decisions,” she said. (NAN)
Kano PDP faction increase NNPP fold
As political transfer season comes to a close ahead of this Saturday’s general election, a faction of the People’s Democratic Party (PDP) in Kano State has decamped into the New Nigeria People’s Party (NNPP).
The news of this movement was announced by Sunusi Dawakin Tofa, spokesman of the NNPP Campaign Council, on Sunday in Kano.
The statement said the decampees were welcomed into the NNPP by Rufai Alkali, the National Chairman, and Isaac Idahosa, the party’s presidential candidate, at a ceremony held in Kano.
Shehu Sagagi, the PDP factional leader, accused the PDP of lacking internal democracy and promoting nepotism to the detriment of the growth of the party.
Sagagi said that he defected alongside 36 state executive members, over 700 local government executives, 8,000 ward executives, 44 national delegates, and 1,452 ward delegates.
Meta launches subscription service for Facebook, Instagram
Mark Zuckerberg, the Chief Executive Officer of Meta, owner of Facebook, Instagram, and WhatsApp, announced via his Instagram Channel that the company would be launching a subscription service called Meta Verified. It includes a handful of additional perks and features, including account verification badges for those who pay.
The new subscription will cost $11.99 (€11.18) per month, or $14.99 (€13.98) if purchased through the iOS app, and is primarily targeted towards content creators. In addition to a verification badge, the subscription includes “proactive account protection, access to account support, and increased visibility and reach,” a Meta spokesperson said in an email.
North Korea fires ballistic missiles, warns of turning Pacific into ‘firing range’
North Korea fired two more ballistic missiles off its east coast on Monday, as the powerful sister of leader Kim Jong Un warned U.S. forces to halt military drills, saying the reclusive nuclear state could turn the Pacific into a “firing range.”
The launches come just two days after North Korea fired an intercontinental ballistic missile (ICBM) into the sea off Japan’s west coast, prompting the United States to hold joint air exercises with South Korea and separately with Japan on Sunday.
North Korea’s state media confirmed it fired two projectiles from a multiple rocket launcher, aiming at targets 395 km (245 miles) and 337 km (209 miles) away, respectively.
“The 600mm multiple rocket launcher mobilised in the firing… is a means of tactical nuclear weapon,” capable of “paralysing” an enemy airfield, state news agency KCNA said. (Reuters)
