A destroyed refinery By Favour Ifeoluwa & Akinola Ajibade The Nigerian National Petroleum Company Limited( NNPCL) says it has destroyed 134 illegal refineries in the last few weeks. Also, the company said 63 illegal pipeline connections were uncovered during the the weeks . The corporation, In a visual report, stated that at about 2 am on Sunday, a joint team of security agents discovered a large wooden boat illicitly loading stolen crude oil from Barge AGS01 within the OML 18 operating area, noted intelligence report a large wooden wooden boat was caught receiving crude oil from the barge. According to the state-owned oil firm, while the barge was towed away with a tugboat in custody, five speedboats used in towing the large wooden boat to the illegal loading site were also detained and the particulars of the tugboats and barge used for the operation were reportedly seized for further investigation. It further said that two large boats, which involve
By Favour & Akinola Ajibade
Nigeria may not achieve its economic growth plans soon, in the event that the country's rate of inflation increases further from 22.04 per cent unchecked.
The National Bureau of Statistics( NBS), released 22.04% for the month of March this year.
This happens, as the country suffered increase in inflationary rate on twelve occasions in recent times and may experience more growth in IR in the event that the Federal Government is unable to check it.
Last weekend, the Bureau announced that the rate of inflation has increased from 21.91 percent in February to 20.04 per cent in March, a development, which might have informed the decision of apex banking regulatory authorities to try to halt by mopping up more funds from circulation, northwithstanding the consequences on average Nigerians, who are yet to come out of the problems provoked by the introduction and implementation of cashless policies in the country.
Records showed that the country’s inflation rate has now risen three times in a row since the first quarter of 2023.
For instance, March inflation data shows a 0.13 per cent increase from the 21.91 per cent recorded in February 2023.
Year on year, the country’s inflation rate increased by 6.13 per cent from 15.92 percent in March 2022.
“On a month-on-month basis, the all-items index in March 2023 was 1.86 percent, which was 0.15 per cent points higher than the rate recorded in February 2023 (1.71 percent),” the report added.
The NBS statistics also showed that the rate of food inflation in March increased to 2.07 per cent , 0.16 per cent more than the 1.90 per cent reported in February.
The country’s inflation rate has now risen three times in a row since the beginning of the year.
March inflation data shows a 0.13 per cent increase from the 21.91 per cent recorded in February 2023.
Year on year, the country’s inflation rate increased by 6.13 per cent from 15.92 percent in March 2022.
“On a month-on-month basis, the all-items index in March 2023 was 1.86 percent, which was 0.15 per cent points higher than the rate recorded in February 2023 (1.71 percent),” the report added.
The NBS statistics also showed that the rate of food inflation in March increased to 2.07 per cent , 0.16 per cent more than the 1.90 per cent reported in February.
Comments
Post a Comment