Japan’s Households Expect Strongest Inflation on Record

Economic/Inflation/Prices

Japan’s Households Expect Strongest Inflation on Record

Japan’s households see inflation at record levels over the coming years, an uptick that will support the case for the Bank of Japan to raise interest rates in the near-term as the yen’s rapid depreciation ramp up pressure on the cost of living.

Households expect price levels to rise at an annual clip of 8.7% over the next five years, the highest in comparable data back to 2006, according to a quarterly survey by the BOJ published Friday.

Bloomberg Economic

Governor Umo Eno recently inspected a new aircraft, held meetings with Airbus executives, and visited cadets.

By Anietie Edet

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Aviation News

GOVERNOR UMO ENO INSPECTS NEW AIRCRAFT, MEETS AIRBUS EXECUTIVES, VISITS CADETS

The Governor of Akwa Ibom State, His Excellency, Pastor Umo Eno, today visited the Samco Aviation Maintenance Facility in Maastricht, Netherlands, to inspect the new Airbus A220-300 series aircraft acquired by IbomAir.

The Southern Post reports according to the press release Signed Comrade Ini Ememobong

Honourable Commissioner for Information  

Akwa Ibom State

This new acquisition from Carlyle Aviation aims to enhance IbomAir’s operations as they await the delivery of planes previously ordered from Airbus. According to Captain Mfon Udom, CEO of IbomAir, this addition is crucial to meet the growing demand from passengers who have made IbomAir their airline of choice.

 

Governor Eno also met with top Airbus executives, including Grainne van den Berg, Vice President, Marketing-Africa & Middle East, and Hadi Akoum, Vice President Sales-Africa. They discussed the delivery timelines for the remaining aircraft ordered by IbomAir during the 2021 Dubai Airshow. Airbus commended the state government for the investment in aviation, especially the construction of the Maintenance Repair and Overhaul (MRO) facility, which they promised to pay an assessment visit for a possible partnership.

In addition, the Governor made a surprise visit to 15 cadets from Akwa Ibom State at the Airbus Flight Academy in Angouleme. The cadets expressed their gratitude for the state's investment in their future and assured the Governor of their commitment to returning to work for IbomAir after their training. Governor Eno encouraged them to remain diligent, stating, “I’m glad to see your dedication. Life is an endurance trek that you must face head-on. We are committed to ensuring you achieve the best and look forward to celebrating your success.”

Captain Udom appreciated the Governor’s commitment to the cadets' training and the consistent support for their upkeep, highlighting the positive impact this will have on the aviation industry and the state.

Governor Eno commended IbomAir's growth and adherence to their business plan. He expressed satisfaction with the new aircraft acquisition, noting, “This addition will further strengthen our airline, which is already performing well. Our administration will continue to support IbomAir.”

The new aircraft, as stated by George Uriese, Chief Operating Officer of IbomAir, will arrive in Nigeria soon after the necessary paperwork is completed.

Governor Eno was accompanied by key officials, including the Chief Whip of the House of Assembly, Rt. Hon. Chief Effiong Johnson, Secretary to the State Government, Prince Enobong Uwah, Attorney General and Commissioner for Justice, Uko Udom SAN, members of the State Executive Council, and representatives from IbomAir and the Akwa Ibom Business Forum.

BREAKING: Supreme Court Grants Autonomy To LG, Says It’s Unconstitutional For Govs To Hold Funds

Supreme Court Grants Autonomy To LG, Says It’s Unconstitutional For Govs To Hold Funds

By Edet Ottohnsek

2 minutes reads

The Supreme Court, on Thursday, declared that it is unconstitutional for state governors to hold onto funds meant for Local Government (LG) administrations.

In its lead judgement read by Justice Emmanuel Agim, the apex court observed that the refusal of state government on financial autonomy for local governments has gone on for over two decades.

He said local governments has since stopped receiving the money meant for them from the state governors who act in their stead.

Justice Agim noted that the 774 local government councils in the country should manage their funds themselves.

He dismissed the preliminary objections of the defendants (state governors).

In the suit filed by the Attorney-General of the Federation (AGF), Lateef Fagbemi, the Federal Government sought an order preventing the governors from arbitrarily dissolving democratically elected councils.

Justice Agim said the AGF has the right to institute the suit and protect the constitution.

The apex court consequently directed that Local Government allocation from the Federation Account should be paid directly to them henceforth.