General
Nigeria Suspends Food Import Duties, Partners with States to Boost Farming
In an effort to combat rising inflation and alleviate food shortages, the Federal Government of Nigeria has announced a 150-day duty-free import window for various food commodities. This measure, intended to stabilize food prices and ease the economic burden on Nigerians, will suspend duties, tariffs, and taxes on food imports through both land and sea borders.
Key Points:
- Duty-Free Import Window: Effective immediately, a five-month period has been established during which maize, husked brown rice, wheat, and cowpeas can be imported without incurring duties, tariffs, or taxes. These imports will be sold at a Recommended Retail Price to ensure affordability.
- Partnerships with States: The government will collaborate with state authorities and the military to identify and cultivate arable lands, providing substantial support to smallholder farmers. This initiative is part of the Presidential Accelerated Stabilisation and Advancement Plan, aimed at achieving food security and economic stability.
- Economic Context: In 2023, Nigeria spent $2.13 billion on food imports, despite having a robust agricultural sector. High food import bills have persisted due to challenges such as inadequate infrastructure, insecurity, and climate change. This new directive aims to reduce the demand for foreign exchange used by food importers.
- Government Support: To counteract the impact of rising prices and supply shortages, the government plans to import 250,000 metric tonnes each of wheat and maize in their semi-processed states, targeting small-scale processors and millers across the country.
- Impact on Local Agriculture: While this move is expected to mitigate immediate food inflation, experts warn it may weaken the domestic agricultural sector by making it difficult for local farmers to compete with imported goods. Sustainable agricultural policies and infrastructure improvements are crucial for long-term food security.
- Challenges and Recommendations: Persistent issues such as poor transportation infrastructure, market access, and security continue to affect food production and distribution. Experts suggest declaring a state of emergency in the food sector and implementing comprehensive measures to boost local production and self-sufficiency.
Minister of Agriculture Abubakar Kyari emphasized the importance of these measures in bringing relief to Nigerians and supporting the agricultural sector through enhanced land cultivation and sustained farmer support. However, he acknowledged the need for long-term solutions to ensure food security beyond the temporary tariff suspension.
As Nigeria navigates this critical period, the government’s proactive stance on food imports and agricultural collaboration will be closely monitored to assess its effectiveness in stabilizing the nation’s food economy and alleviating the hardships faced by its citizens.
General
LA Wildfires Continue to Burn as Evacuation Orders Expand and Search Efforts Intensify
The battle against wildfires in Los Angeles rages on, with evacuation orders remaining in place for vast areas threatened by flames. Officials are defending their response as fire crews work tirelessly to contain the blazes and cadaver dogs search for potential victims in the aftermath.
The Palisades Fire, the largest and most destructive of the current wildfires, has grown to over 22,000 acres, an increase of 1,000 acres overnight. Containment has risen slightly to 11%, but evacuation orders remain active for communities in Brentwood and Encino, where residents are reeling from the impact.
Josh Sautter, head of the Encino Neighborhood Council, described the panic caused by the evacuations: “People were completely freaked out as the orders swept through the community.”
According to the California Department of Forestry and Fire Protection, Los Angeles is now dealing with four active fires, a reduction from six earlier in the week. The contained Archer, Lidia, Sunset, Woodley, and Olivas fires no longer pose a threat.
Here are the latest updates on the remaining wildfires:
- Palisades Fire:
The first fire to ignite last Tuesday, it has scorched more than 22,000 acres, including areas of the Pacific Palisades. Officials warn it could become one of the most destructive fires in California’s history. Containment is at 11%. - Eaton Fire:
Burning in the northern parts of the city, including Altadena and areas near Pasadena, this fire covers nearly 14,000 acres and is now 15% contained, a significant improvement from 3% yesterday. Evacuations have expanded to include Hastings Ranch, Sierra Madre, and Arcadia. - Hurst Fire:
North of San Fernando, this fire has burned approximately 800 acres since it began Tuesday night. Containment has reached 76%. - Kenneth Fire:
Situated on the Los Angeles-Ventura County border, this fire has scorched over 1,050 acres. Authorities report it is now 80% contained, with no structural damage reported.
In addition to the expanded evacuation zones, search-and-rescue teams are working in areas previously devastated by flames to locate any victims. The use of cadaver dogs underscores the severity of the situation.
Efforts to control the fires are ongoing, with containment lines being reinforced to prevent further spread. Officials urge residents to remain vigilant and adhere to evacuation orders for their safety.
General
Canada’s Finance Minister Chrystia Freeland Resigns
Canada’s Deputy Prime Minister and Finance Minister Chrystia Freeland has resigned following a disagreement with Prime Minister Justin Trudeau over the country’s economic strategy. The announcement came just hours before she was scheduled to deliver the government’s annual fiscal update on Monday.
In her resignation letter, Freeland revealed a growing rift with Trudeau, stating they were “at odds about the best path forward for Canada.” The resignation follows Trudeau’s decision last week to remove Freeland as his government’s top economic advisor.
At the center of their dispute was a proposed policy to provide a C$250 ($175; £139) cheque to eligible Canadians, which Freeland opposed, calling it a “costly political gimmick” that Canada could not afford. She emphasized in her letter that Canada must “keep its fiscal powder dry” in light of economic challenges, including the looming threat of tariffs from U.S. President-elect Donald Trump.
Trump has vowed to impose a 25% tariff on Canadian imports, a move economists warn could severely impact Canada’s economy. Freeland described this as “a grave challenge” and urged the government to prepare for its potential fallout.
Freeland, a long-time ally of Trudeau within the Liberal Party, has been Canada’s finance minister since 2020, steering the nation through the economic turbulence of the COVID-19 pandemic and its aftermath. Her resignation marks the second time a finance minister has departed during Trudeau’s tenure due to policy disagreements; her predecessor, Bill Morneau, stepped down in 2020 amid a clash over spending policies and ethics concerns.
Freeland’s departure signals a major shift in Trudeau’s cabinet as the government faces mounting economic pressures.
General
South Korea President Yoon says he will lift martial law
On December 3, 2024, South Korean President Yoon Suk Yeol declared martial law, citing the need to eliminate “anti-state” forces and protect the nation’s constitutional order. This unprecedented move, reminiscent of South Korea’s authoritarian past, was met with swift opposition. The National Assembly convened promptly, with 190 out of 300 members present, and voted unanimously to lift the martial law declaration.
Following the parliamentary vote, President Yoon announced his intention to honor the legislature’s decision and lift martial law. He indicated that he attempted to assemble the cabinet to formalize this action but faced delays due to the early morning hours. President Yoon assured the public that he would proceed with lifting martial law as soon as the minimum required number of cabinet members could be gathered.
This series of events has intensified political tensions in South Korea, drawing criticism from both opposition parties and members of President Yoon’s conservative People Power Party.
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