GOV. ODODO’S EXECUTIVE PROCLAMATION NOT STATE OF EMERGENCY . (PHOTO).

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 Gov. Ododo’s Executive Proclamation Not State of Emergency  Kogi State Governor, Alhaji Ahmed Usman Ododo  has clarified that his recent Executive Proclamation on security protocols in the state is not a declaration of a state of emergency but a set of necessary measures to enhance the security architecture to crackdown on criminals in all parts of the state.  This was contained in a statement by the Special Adviser on Media to the Governor, Hon. Ismaila Isah, explaining that the proclamation is a lawful constitutional measure aimed at strengthening security coordination and protecting lives and property across Kogi State.  Gov. Ododo emphasized that it is within his powers as the Chief Security Officer of the state under Section 14 subsection 2(b) of the 1999 Constitution of the Federal Republic of Nigeria (as amended). He noted that the proclamation seeks to enhance collaboration among security agencies without suspending constitutional rights or declaring a ...
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WALE EDUN: ECONOMIC INSTABILITY, FX PAUCITY FORCED 800 COMPANIES TO SHUT DOWN. (PHOTO).

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 Wale Edun: Economic instability, FX paucity forced 800 companies to shut down

 

Wale Edun, minister of finance, says economic instability forced 800 companies to shut down operations.


Edun made this known on Tuesday in Abuja during the sectoral report of President Bola Tinubu’s one year in office.


The minister said the departure of these companies was not sudden.


He said issues such as market instability, unfulfilled promises, and contract breaches drove them away, but these issues have now been resolved.


“Government did inherit an unstable economy,” Edun said.


“The 800 companies or so did not make up their minds overnight. They stayed until they could stay no more.


“The conditions which sent them packing are no more. Those conditions were a foreign exchange market that was in no way fit for purpose.


“There was no liquidity. They were a general economic regime marked by instability, broken promises, lack of adherence to contracts.”


Edun said the new environment for investors involves tackling inflation, which will eventually result in lower interest rates.


This, he said, will allow investors to leverage the dynamic domestic markets to enhance their equity and invest.


On March 6, the Manufacturers Association of Nigeria (MAN) said 767 manufacturers shut down operations, while 335 became distressed, in 2023.

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