Tag Archives: 18 Months

World Food Prices Rise To Highest In 18 Months In September- UN

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World food prices rose in September to their highest since March 2015, led mainly by sugar, the United Nations food agency said on Thursday.

Except for a small dip in July, the Food and Agriculture Organization’s (FAO) food price index has been increasing steadily since January, when it hit a seven-year low.

The index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 170.9 points in September, 2.9 percent above the month before and 10 percent higher than the same month last year.

Sugar prices surged 6.7 percent in September from the previous month, largely because of bad weather in Brazil, the world’s biggest sugar producer and exporter, FAO said.

While cereal prices declined slightly, meat edged up and dairy and vegetable oil prices increased.

“A lot of the September increase has to do with sugar, so if sugar were to stop increasing, the index would be more or less flat,” said FAO senior economist Abdolreza Abbassian. “But the scope for big declines is not there.”

FAO raised slightly its forecast for world cereal production in the 2016-17 season rose to 2.569 billion tonnes, which would be a new record high and a 1.5 percent increase on the previous season. World wheat output is seen at 742.4 million tonnes, up slightly from the previous forecast of 740.7 million tonnes.

Credit: reuters

It’s Criminal To Owe LG Workers 18 Months Salaries- Ize-Iyamu

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The PDP candidate, Pastor Osagie Ize-Iyamu, yesterday described as criminal the failure of APC governments to pay council workers for 18 months while the state government is allegedly doling out N120 million to female supporters of Governor Oshiomhole.

Assuring the citizens that their weeping would soon be over, Ize-Iyamu was quoted in a press statement issued by his campaign, in reaction to a peaceful protest by local government workers over non payment of their salaries, yesterday.

“It is only a wicked, insensitive and irresponsible governor that will deny the workers their salaries, especially when Oshiomhole just donated N120 million to some selected market women at the Dr. Osaigbovo Ogbemudia Staduim, Benin-City, thanking them for supporting his administration.

‘’How did he spend the $225 million loan he took from the World Bank, which he said would improve the investment climate and increase the internally generated revenue of the state?

‘’How can the governor justify the N18m he pays to the Nigerian Television Authority (NTA) and Channels Television at every rally for live coverage – when workers are being owned salaries?

‘’Is it right and just for Oshiomhole to be giving each local government council N18m anytime he goes for campaign, spends millions of naira hiring touts and hoodlums and yet, the welfare of government workers means nothing to him?”

Credit: Vanguard

Sack Jonathan’s Last Minutes Appointees, Review Contracts Of Last 18 Months, Joda Committee Tells Buhari

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The Ahmed Joda transition committee has urged President Muhammadu Buhari to immediately terminate all dubious appointments made by former President Goodluck Jonathan in the last nine months, and review all contracts awarded by the administration in the last 18 months.

The committee said this is to help the new government sidestep ineptitude and waste, and scale up its revenue base.

The recommendations are part of a portfolio of swift steps Mr. Buhari must take within three months of assumption of power if he must save cost and “enhance liquidity”, the committee said in its 800-page report to the president.

A news agency obtained volumes of the report, which contain extensive analyses of Nigeria’s key challenges, with suggested responses for the economy and finance, governance and social welfare.

The report details a list of prompt, medium and long term decisions Mr. Buhari must take, or authorize, within 30, 45, 60 and 90 days of taking office, to create immediate impact, reduce government liability, increase revenue and stabilize the polity.

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