Author: mingooland

Okuama Killings: We Must Make Example Of Killers Of Nigerian Soldiers – Obanikoro

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Former Minister of State for Defence, Senator Musiliu Obanikoro, has condemned the recent killing of 17 Nigerian Army officers in Delta State.

Naija News recalls that the tragic incident, which sent shockwaves through the nation, occurred in the volatile region of Ughelli South Local Government Area, specifically in the Okuama community.

The soldiers, part of the 181 Amphibious Battalion, were on a peacekeeping mission aimed at quelling communal clashes when they were ambushed and brutally murdered.

Speaking on the sidelines of the 10th Ramadan Lecture of the Anwar-ul Islam College, Agege Old Students’ Association (ACAOSA) in Lagos, Obanikoro, also a former Ambassador to Ghana, described the killings as “very sad” and “very unfortunate.”

He stressed the need for the perpetrators to be brought to justice, asserting that such acts of violence against security personnel must not go unpunished.

According to Obanikoro, the path to national prosperity and security is a shared responsibility that encompasses all sectors of society, including teachers, students, police, civil servants, and politicians.

He said, “The killing of those soldiers is very sad and those killers must not go unpunished.

“We must make an example of them that nobody dare do that again.

“We must do it to the point that even when people see security officers in uniform, they will run, not to talk of killing them.

“That killing is very sad, it is very very unfortunate.”

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Naira To Dollar At N400 Rate Unrealistic – Moghalu

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A former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has criticized the notion that the naira will stabilize at N400 to the dollar.

The political economist deems the notion as unrealistic.

Naija News reports that Moghalu expressed his viewpoint through a series of posts on his X account on Sunday.

He wrote: “Those who want the Naira to be N400 to the $ are living in a dream world. Even discounting for the negative impact of speculative attacks on the value of the Naira, the exchange rate will (and should) reflect its market value in reality, not the artificiality that the Emefiele era central bank sought to maintain to please economic illiterates in political power at the time.

“That artificiality created room for massive arbitrage by speculators which bled the economy. Nigeria does not (yet) have a productive export economy. That’s the heart of the matter.

“And we do not have $100 billion in foreign reserves. So on what basis would the Naira forex rate return to some fantasy land soon? It will also take time to regain or achieve full investor confidence such as we had when we were there (and the rate was N150-165 to the $).

“The sooner we focus on a painstaking creation of value-added manufacturing export economy that earns forex beyond oil in real and significant terms, the better.

“Key to this is the electricity conundrum in which we are at less than 4,000MW of generation for a population of 200 million for decades now. Take power to even 20K megawatts (let’s not talk of 50K for South Africa’s 60 million population or Brazil’s 181K megawatts for a population only slightly larger than Nigeria) and you will see what the Nigerian entrepreneurial spirit is capable of.”

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