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Gombe gov donates N3.6m to windstorm victims

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Gombe gov donates N3.6m to windstorm victims

Gombe State Governor, Muhammadu Yahaya, has donated the sum of N3.6 million to no fewer than 36 victims of windstorm devastation in Garin Abdullahi of Yalmatu-Deba Local Government Area of the state.

Our correspondent reports that the State Emergency Management Agency made the presentation of cash donations to the victims of the windstorm at its state headquarters in the Gombe metropolis on Thursday.

The Executive Secretary of the Agency, Abdullahi Haruna, said the agency upon receiving the report of the windstorm, intimated the governor, who wasted no time in approving the donation.

He said, “When the sad incident occurred, we visited the Garin Abdullahi Community, empathised with them over the unfortunate incident, made our assessment of houses affected by the storm and reported back to Governor Muhammadu Inuwa Yahaya, CON.

“He passionately, out of his show of love and concern for the plight of the people, approved the sum of N3.6 million to the victims; hence, presentation today.”

The SEMA Boss said the administration of Yahaya may not be able to pay for all the losses, explaining that the gesture is to bring succour to the affected families and pray to God to prevent the occurrence of such a disaster.

Responding, a member representing Yamaltu-East in the state House of Assembly, Adamu Saleh, commended the governor for his style of leadership, which seldom revolves around the welfare and well-being of the people.

One of the beneficiaries, Adamu Saleh, expressed gratitude to the governor for his unrelenting efforts towards putting smiles on the faces of the people, describing him as a true reflection of a compassionate leader.

He explained that the fund would accelerate their rebuilding process after the windstorm battered their community.

Ways and means era ends, immediate relief for 600,000 households

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Ways and means era ends, immediate relief for 600,000 households

The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, says the Federal Government has exited from the Ways and Means borrowing mechanism.

The minister made this known on Thursday in Abuja during the half-year review Ministerial Press Briefing with the theme: Economic Recovery and Growth: Progress and Prospects 2024.

Edun also said the government is on its way to achieving a step-change in its revenues and has made significant strides in its economic reforms closely in line with the 2024 budget.

In a statement on Thursday signed by the ministry’s Director of Information and Public Relations, Mohammed Manga, Edun cited a projected budget deficit of 4% in the 2024 Fiscal Year.

He also acknowledged the temporary hardships caused by the reforms but assured that Nigerians would soon benefit from the expected outcomes as the well-coordinated economic policies of the government are beginning to yield results.

Edun claimed that there is a decline in the rate of growth of inflation, increasing foreign investments relative to the same period in the previous year, amongst other positive fiscal yardsticks that are being noted.

The statement read, “The minister informed that one of the major priorities of the President Bola Ahmed Tinubu-led Administration in the immediate term is to reduce food prices and focus on providing all the necessary support to increase local food production, given the impact of high food prices on inflation. He noted that efforts are underway to achieve this goal.

“Edun emphasised the President’s commitment to the welfare of ordinary Nigerians and the Government’s efforts to ensure transparency and accountability in its social protection initiatives, including but not limited to the acceleration of the direct benefit transfer programme that has now been restarted following an initial pause of the programme to improve transparency in its delivery.

“The minister mentioned that, following the resumption of payments, over 600,000 households have already received this direct transfer this week.

“As part of efforts to further improve foreign exchange liquidity and to showcase the resilience of the Nigerian financial system as economic stability takes root, the Minister also announced plans for the Federal Government to issue domestic USD-denominated securities of up to US$500 million, in the first instance to attract investment from Diaspora Nigerians and Nigerians with savings held abroad.”

Edun also acknowledged the Supreme Court’s judgment on direct payment of federation allocations to Local Government Councils and reiterated the Government’s commitment to implementing the judgement.

The minister affirmed that with the outcome of the first half of 2024 and macroeconomic stability, the Nigerian economy is well positioned for sustained and inclusive growth that creates jobs, lifts millions out of poverty, and drives domestic and foreign investments that would improve the general well-being of the average Nigerian.

Nigeria’s economy’ll be revived soon, Tinubu assures citizens 

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Nigeria’s economy’ll be revived soon, Tinubu assures citizens 

President Bola Tinubu says Nigeria’s economy is on a gradual but steady path of recovery despite the heavy headwinds.

He also assured citizens that his administration will do more in the coming days to meet their needs.

Tinubu gave these assurances when he met with traditional rulers led by the Sultan of Sokoto, Muhammad Sa’ad Abubakar III, and the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, at the State House, Abuja, on Thursday.

Special Adviser to the President on Media and Publicity, Ajuri Ngelale, disclosed this in a statement he signed Thursday night titled, ‘President Tinubu: Nigeria’s economy on the path of recovery – We will do more to meet the needs of citizens.’

His remarks follow growing calls for nationwide protests against economic hardship, scheduled for August 1 – 15, 2024.

Thursday’s meeting was part of last-ditch efforts by the Federal Government to engage critical stakeholders to avert what it describes as a brewing crisis.

Tinubu said he will continue to explain the economic reforms and projected benefits to the nation, adding that he remains open to dialogue for the development of the country.

Therefore, he urged the royal fathers to reach out to citizens on the genuine intentions of the government to deliver on its promises of Renewed Hope.

“Now, we are sending money to the local governments. I addressed the governors today on that issue.

“I have been distributing fertilizer, rice, and other items to support the recovery of citizens. I assure you, Nigerians, we are looking at the light at the end of the tunnel.

“I can assure you, this economy will be revived, will survive, and prosper,’’ the President emphasised.

Tinubu explained that he is deeply concerned about the plight of citizens, and their needs will receive more attention.

“Yes, it is true that I asked for this job, and I approached some of you to support me. So, I have no excuse not to do the job with sincerity of purpose and honesty. I have committed myself to it diligently, and I will never look back.

“I have accepted the assets and the liabilities of my predecessor. How I will take Nigeria forward should be my concern, and that is my concern. I have been extremely busy. The only exercise I have had here is the walk from the residence to this place and then continue with the work.

“Nigeria is hilly, and it is the largest democracy in Africa. No other democracy comes close to us in terms of population on the continent. We cannot blame God for giving us these children, and we have to seek peace and better livelihoods,’’ Tinubu said.

Tinubu stated that the interventions to bring the government nearer to the people are already yielding results, with the activation of the student loan programme, the consumer credit scheme, and the affirmation of fiscal autonomy for local government councils.

He said the Ministry of Finance will continue to ensure that funds go to the grassroots for human and infrastructural development.

Tinubu explained, “Today, the Bank of Agriculture is empty. We have to reactivate it. If they are not talking about flooding, they are talking about banditry. We have to start all over again. Yes, infrastructural decay is there.

“The Lagos-Calabar coastal road is not being done without studies. It is an economic energiser. From it, we can create infrastructure along the route to develop wind energy and generate power, and we can expand our irrigation network.

“The economic viability of infrastructure has to be studied before we embark on projects.  How many dams are there on the corridors of Sokoto- Badagry? From there, we can energise electricity. We can do irrigation and additional farms.”

According to him, the government can create opportunities for farmers on a small scale even with two million hectares of arable land.

He added, “Then you have to find capital for them.”

Tinubu cited an earlier briefing by the Minister of Finance, Wale Edun, saying, “Nigeria is on the path of recovery. You have heard it from the Minister of Finance, Mr. Wale Edun. We are not afraid of protests. Our concern is the ordinary people and the damages that will be done.

“Till today, I cannot forget the brand new 60 and 100 seater buses, down there in Lagos that were burnt down, and we are now complaining of transportation.

“That is the problem. That is why I must say thank you for talking to the citizens,” the President told the traditional rulers.

The President also said security was getting more attention and would be enhanced.

“Security is getting better, but we cannot take our eyes off the camera because it takes one accident for things to flare up. We are managing it.

“We have created instruments to support the students so that they get education, and consumer credit to expand the economy, to improve the purchasing power of the people in order to rejuvenate the economy within a short period.

“We are still recalibrating our oil usage,” the President stated.

In his remarks, the Sultan of Sokoto said: “I believe that this brief meeting will clear some issues that many people have in their minds.

“At our meeting on Monday, we had a very open discussion on all issues affecting the nation.

“We are the ones who will tell you the truth about what is happening in our various communities.”

The royal father said an executive council meeting was held on Monday, and the Council, composed of all State Chairmen of the 36 States and the FCT, met to deliberate on the economy.

The Ooni of Ife thanked the President for inviting the National Security Adviser, Nuhu Ribadu; the Minister of Finance and Coordinating of Minister of the Economy, Mr. Wale Edun, the Minister of Budget and Economic Planning, Mr. Abubakar Atiku Bagudu, and the GCEO of NNPCL, Mele Kyari, to brief the traditional rulers on the state of the economy.

“We heard from the GCEO of NNPCL. They are the ones that propel our economy. We have heard from the Minister of Finance.

“We also heard from the Minister of Budget and the NSA. We want to encourage you, Mr. President, we will all get back to our various communities and let our people know because none of us locks our palaces,’’ the monarch added.

Buhari reacts to death of Ohanaeze’s President General Iwuanyanwu

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Buhari reacts to death of Ohanaeze’s President General Iwuanyanwu

The immediate past president of Nigeria, Muhammadu Buhari, has expressed sadness over the death of the President-General of Ohanaeze Ndigbo Worldwide, Emmanuel Iwuanyanwu.
TVN earlier reported that the elder statesman died on Thursday in the Federal Capital Territory, Abuja, after a brief illness.
Reacting, Buhari, in a statement on Thursday by his spokesman, Garba Shehu, extended his condolences to the family, friends and associates of the deceased.
The former president described Iwuanyanwu’s death as a sad event for the nation, highlighting his contributions to journalism, sports, politics and nation-building.
The statement added: “He was a visionary who revolutionised the nation’s media and sports. He made notable strides in the media industry, construction, sports, business, and politics.
“I had several opportunities to interact with him to learn about his passionate commitment to the unity, peaceful coexistence, and development of Nigeria.
“His rich contributions have left indelible memories in the media, sports, politics, and business, where he made extraordinary achievements.”
Buhari reacts to death of Ohanaeze’s President General Iwuanyanwu

NWDC establishment: N’West govs applaud Tinubu

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NWDC establishment: N’West govs applaud Tinubu

The North West Governors Forum has applauded President Bola Tinubu for signing the North West Development Commission Bill into law.

The Chairman of the Forum and Katsina State Governor, Dikko Radda, on behalf of the group, said the historic decision represents a significant step toward addressing the developmental challenges faced by the North West region.

He expressed confidence that the development will also address infrastructural decay, security issues, and socio-economic instability that have long plagued the North West.

This is contained in a press statement by the Chief Press Secretary to Katsina State Governor, Ibrahim Kaula Mohammed and issued to newsmen on Thursday evening in Katsina,

The statement highlighted the Commission’s mandate to include the reconstruction of roads, houses, and business premises, promoting industrialization, and tackling ecological and environmental challenges.

It read, “Governor Radda assured that the North West Governors Forum is fully committed to collaborating with the NWDC to achieve sustainable development in the region.

“Governor Radda revealed that various developmental initiatives have already been launched, gaining substantial traction in areas such as security, agriculture, education, healthcare, and infrastructure. The institutional framework provided by the NWDC will enhance these efforts, ensuring coordinated and sustainable progress.

“The Governors of the North West region are united in their resolve to support the NWDC’s mission. We are prepared to mobilise all necessary resources and collaborative efforts to implement strategic projects that will transform the region into a hub of economic prosperity and social stability.

“Our Key focus areas include promoting peace and security, ensuring food security, restoring infrastructure, fostering youth employment, and improving access to quality education and healthcare.”

The statement added that the North West Governors expressed their commitment to working closely with the NWDC management.

“Governor Radda reiterated the North West Governors’ commitment to working closely with the NWDC, leveraging its resources and expertise to improve the living standards of residents in the region. He called on all stakeholders, development partners, and citizens to join hands with the Commission in this transformative journey.

“In conclusion, the Chairman, North West Governors Forum extended heartfelt thanks to President Tinubu for his decisive action and urged continued support and collaboration from all Nigerians to ensure the successful implementation of the NWDC’s mandate. The establishment of the NWDC is a promising development for the North West, heralding a brighter future marked by stability and prosperity,” it added.

Tinubu unveils Nigeria police green initiative

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Tinubu unveils Nigeria police green initiative

President Bola Tinubu said the Nigeria Police Green Initiative would mitigate the effects of climate change and encourage eco-friendly practices.

He expressed faith in the scheme saying it will also prioritise innovation and partnerships that would drive the nation’s transition to a green economy.

The President, who was represented by his deputy, Vice President Kashim Shettima, stated this on Thursday when he launched the Nigeria Police Force Green Initiative at the Police Resource Centre, Jabi, Abuja.

The Senior Special Assistant to the Vice President. on Media and Communications, Mr. Stanley Nkwocha, revealed this in a statement titled, ‘President Tinubu unveils Nigeria Police Force Green Initiative.’

Tinubu described the initiative as a novel approach that will also enhance the operational efficiency and capacity of the Nigeria Police Force to combat crime as well as maintain law and order in the country.

A brainchild of the Nigeria Police Force, the initiative is meant to promote environmental sustainability within operations and facilities of the Force, as well as reduce the environmental footprint of its activities by implementing eco-friendly practices and the adoption of renewable energy sources.

Delivering the President’s address at the event, Tinubu said no part of the world can feign ignorance of the realities of climate change whose consequences are everywhere.

He noted that nobody or community in Nigeria is spared from the threat caused by climate change to the nation’s ecosystem, adding that this is enough to spur all and sundry to join in the implementation of solutions.

He stated: “I, therefore, am delighted by this measure taken by a distinguished institution such as the Nigeria Police Force. Nigeria has been at the forefront of the global search for solutions to the devastations of climate change.

“We have always known that we cannot reach the target of aligning with international climate goals and reducing greenhouse gas emissions unless each person and stakeholder lives up to their obligation.

“This is the promise we made to the world at the COP 28 conference in Dubai last year. Alongside other nations, we reiterated the urgent need for global cooperation to implement solutions that can stop and reverse the effects of climate change.”

Explaining why his administration is throwing its weight behind the Initiative, Tinubu noted that “the connection between climate change and security is a price we have paid enough.”

He continued: “The Nigeria Police Green Initiative, therefore, emphasizes our bid to prioritize innovation and partnerships as fundamental drivers for the nation’s transition to a green economy.

“This is an opportunity for you to transition the facilities of your institution to renewable energy sources and promote environmental awareness and education.

“As a strategic collaboration with NEA Energie Limited, a private sector entity, I believe this initiative will further facilitate local and international investments in green infrastructure, engaging communities, and building local capacity in green technology across the nation.”

Earlier, the Inspector-General of Police, Kayode Egbetokun, described climate change as the most substantial threat to humanity, affecting everyday life, livelihoods, and social-cultural existence.

The IG reiterated Nigeria’s commitment to international climate agreements, including the Paris Agreement and net-zero targets. He noted that these efforts aim to reduce carbon emissions and minimize environmental impact.

Egbetokun outlined the NPGI’s key objectives to include “leveraging low-carbon, climate-resilient development to improve police infrastructure and operational efficiency, supporting the federal government’s economic reforms through green initiatives, improving the well-being of police personnel and their families, and developing closer relationships with local communities through climate change engagement.”

He said the initiative’s project portfolio “includes solar power installation at 5,000 locations, deployment of 840 electric vehicles and 605 gas-powered vehicles, installation of 14 electric vehicle charging stations and 38 gas refill stations, a tree-planting programme targeting one million trees, and engagement with up to five million community members.

“The Nigeria Police Green Initiative is not only a moral imperative but also a strategic necessity,” Egbetokun added, emphasising that the programme would contribute to clean energy adoption, energy efficiency, and job creation while reducing crime vulnerability.

In his goodwill message, a representative of the Minister of Environment, Balarabe Lawal, announced the ministry’s full support for the Nigeria Police Green Initiative, noting the link between environmental sustainability and national security.

“Sustainable waste management practices are key to creating a healthier, more resilient environment. Our ministry is fully committed to backing this initiative and will work closely with the Nigerian Police Force to provide necessary resources and expertise,” the minister stated.

Soludo mourns Iwuanyanwu’s passing, says it’s monumental loss

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Soludo mourns Iwuanyanwu’s passing, says it’s monumental loss

The Anambra State Governor, Prof. Chukwuma Soludo, has mourned the passing of the President-General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu.

Soludo, who described the deceased as a “distinguished statesman, notable patriot, renowned businessman”, expressed profound sadness on the passage of the elder statesman, describing it as a monumental loss, not only to his immediate family and the Igbo nation but to Nigeria as a whole.

The governor’s message was contained in a press statement issued by his Press Secretary, Christian Aburime on Thursday.

The statement read, “Soludo expressed profound sadness on the passage of the elder statesman, describing it as a monumental loss not only to his immediate family and the Igbo nation but to Nigeria as a whole.

“Chief Iwuanyanwu was a personal mentor, a great supporter as well as an influential figure whose life and wise counsel were a tribute to exceptional leadership, patriotism, and steadfast dedication to the progress of the Igbo nation and Nigeria as a Country.

“His contributions to the socio-economic development of Nigeria are immeasurable. As the publisher of the Champion Newspapers and owner of several other businesses, his entrepreneurial spirit and philanthropic endeavours have left an enduring legacy in our nation.”

Soludo also recalled and praised the significant contributions of Iwuanyanwu as Chairman, Planning Committee of Ohanaeze, a strategic position Soludo also occupied in the past in Ohanaeze

“Also, as the 11th President-General of Ohanaeze Ndigbo, he provided exemplary leadership, fostering unity, and championing the interests of Ndigbo even while building bridges of peace across Nigeria.

“Soludo, therefore,  extends his deep condolences to the bereaved family, friends, and associates of Chief Iwuanyanwu, Ndigbo and the nation, praying that his soul rest in peace as God grants the family the fortitude to bear this great loss,” the statement added.

#EndBadGovernance protest: Tinubu meets APC governors in Abuja

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#EndBadGovernance protest: Tinubu meets APC governors in Abuja

President Bola Tinubu on Thursday met with governors elected on the platform of the All Progressives Congress (APC) in a bid to stave off the planned nationwide by a group of Nigerians.
The group had planned to stage a nationwide protest tagged: “EndBadGovernance” from August 1 to express their displeasure over the economic hardship and other problems plaguing the land.
The president, the National Assembly and other concerned Nigerians have appealed to those behind the protest to drop the idea and give the government enough time to deliver on its promises to the citizens.
The Department of State Services (DSS) said on Thursday it has uncovered plans by some elements to infiltrate the planned protest and cause chaos in the country.
Governors at the meeting were Hope Uzodimma (Imo), AbdulRazaq AbdulRahman (Kwara), Hyacinth Alia (Benue), Uba Sani (Kaduna), Babajide Sanwo-Olu (Lagos), Francis Nwifuru (Ebonyi) and Usman Ododo (Kogi), among others.
The post #EndBadGovernance protest: Tinubu meets APC governors in Abuja appeared first on Latest Nigeria News | Top Stories from TVN.

Omatek, FCMB, others drag equity market to N118bn loss

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Omatek, FCMB, others drag equity market to N118bn loss

Investors lost N118bn on the Nigerian Exchange Limited, on Thursday, driven by dips in the share prices of Omatek Ventures, Cutix Plc, and First City Monument Bank.

Omatek Ventures shed 10 per cent to close at N0.63, Cutix plc dipped 9.51 per cent to close at N 5.33, and First City Monument Bank lost 8.75 per cent to close at N7.30.

Leading the gainers chart are Custodian Investment which gained 8.51 per cent to close at N0.80. Livestock Feeds increased by 3.91 per cent to close at N0.09, and Wapic Insurance surged by 3.90 per cent to close the day’s trading at N0.03.

Today’s bear hit a three-day streak as the All Share Index declined by 0.21 per cent, settling at 100,156.96 points from the previous close of 100,365.17 amidst increased regulatory spotlight.

This brings the year-to-date to 34.08 per cent, the month-to-date to 0.10 per cent, and the week-to-date to negative 0.38 per cent, respectively.

Market Capitalisation dipped by 0.21 per cent to close at N56.711tn. An aggregate of 366,249,965 units of shares was traded in 8,075 deals valued at N6.88bn.

Meanwhile, activity level strengthened as volume and value traded increased by 169.1 per cent and 12.4 per cent to 1.3bn units and N9.7bn, respectively.

The market activity was bearish as the exchange recorded 12 gainers in contrast to 25 losers, and 86 closed flat.

Performance across sectors was negative, as five indices lost, while one gained. Leading the laggards, the Banking index fell 1.6 per cent due to a price decline in Zenith Bank (-2.6 per cent), First Bank of Nigeria Holdings (-2.89 per cent), and United Bank for Africa (-2.8 per cent ).

Similarly, selloffs on Linkage Assurance dipped by (7.5 per cent), Veritas Kapital fell by (3.9 per cent), Dangote Sugar shed (2.6 per cent), and National Salt Company dropped by (2.2 per cent) dragged the insurance and Consumer Goods indices down by 0.756 per cent and 0.3 per cent, respectively.

The Industrial Goods and Airtel Africa ICT indices lost 0.01 per cent and 0.03 per cent, sequentially, due to losses in Cutix plc (-9.5 per cent) and Omatek ventures (-10.0 per cent).

On the flip side, gains in Oando Plc (+3.1 per cent) and Japaul Gold and Ventures Plc (+0.5 per cent) pushed the Oil & Gas index up by a modest 0.01 per cent.

According to Afrinvest Research, analysts expect the market to continue its negative performance in the last trading session of the week due to higher yield repricing on risk-free securities and policy-induced value reassessment in major industries.

“In the final trading session for the week, we anticipate the market to extend the bearish performance, owing to policy-induced valuation re-assessment (in major sectors) and upward yield repricing on risk-free instruments.”

On Wednesday, According Online reported that the equity market continued with its bearish trading on Wednesday, as investors lost N68bn. The All Share Index and the Market Capitalisation declined by 0.12 per cent each to settle at 100,365.17 points and N56.83tn, respectively.

Protect lives, property, lawmakers tell Sanwo-Olu

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Protect lives, property, lawmakers tell Sanwo-Olu

The Lagos State House of Assembly has called on Governor Babajide Sanwo-Olu and other state governors to take action aimed at protecting lives and property amid the planned nationwide protest.

The According reports that some Nigerians are planning to protest against economic hardship in the country from August 1 to 10, 2024.

The demonstration, which is gaining traction on social media, has been scheduled to be held across all states of the Federation as well as the Federal Capital Territory, Abuja.

“State governments must do the needful calming frayed nerves and ensure protection of lives and property,” the Speaker of the Lagos Assembly, Mudashiru Obasa, said at Thursday’s plenary session.

The lawmakers, in a ‘Matter of Urgent Public Importance’ brought by Majority Leader, Noheem Adams, noted the devastation caused by the EndSARS protest of 2020 in Lagos and urged the governor to organise townhall meetings with major stakeholders to fashion out ways to calm the youth and those who plan to support the proposed protest.

One of the meetings, according to the motion of the House, should be held between the governor and elected political leaders including senators, members of the House of Representatives, and state lawmakers while a second meeting should be held with traditional rulers, religious leaders, heads of markets, those in the transport sectors and related stakeholders.

Obasa said Lagos was still grappling with the impact of the EndSARS protest just as he appealed to the youth to be patient with the government of Asiwaju Bola Tinubu which he noted was making an effort to see a better Nigeria that would benefit the citizens.

The speaker notes that Kenya is currently in a terrible situation adding that the crises in Sudan and Syria started in the same manner.

He commended the commissioner of police in Lagos, Adegoke Fayoade, for meeting with community heads over the planned protest.

Obasa called for an urgent meeting with all leaders, including religious, traditional, and related organisations in the state for discussion that would help dissuade the youth from engaging in the protest.

Other lawmakers who spoke during the debates urged parents to persuade their wards not to join the protest or allow themselves to be used to commit crimes.

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