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The Senate has addressed recent comments made by Senator Abdurrahman Kawu Sumaila, who claimed during a BBC Hausa Service interview that he earns a total of N21 million monthly salary and allowances.
 He also mentioned that each senator receives N21 million monthly as a running cost due to a recent increase. However, Senate spokesman, Senator Yemi Adaramodu (Ekiti South), said that the running costs are distinct from the salaries and personal allowances set by the Revenue Mobilisation, Allocation and Fiscal Commission (RMAFC).

The RMAFC chairman, Mohammed Bello, had said that each senator’s monthly salary and allowances total N1,063,860. Adaramodu, the chairman of the Senate committee on public affairs, said that running costs are not exclusive to the legislature and are necessary for the operational expenses of all governmental bodies.
 He stressed that the funds are accounted for and used solely for official purposes, requiring proof of genuine expenditure. Adaramodu said: “This is not a personal allowance or salary for the legislator. These funds also support the staff of constituency offices.” The Senate spokesperson expressed discontent with the portrayal of excessive spending in Parliament, asserting that the Nigerian Senate comprises highly accomplished professionals motivated by a commitment to improving Nigeria’s political and socio-economic landscape.

In his statement, he reiterated, “For the umpteenth time, the Senate must respond to the outdated claims regarding inflated salaries and allowances attributed to senators. The RMAFC has clearly outlined the monthly take-home pay for senators.” Adaramodu further said that all government branches, including governors, ministers, and local councils, use running costs for their operations, and the National Assembly is no exception.

“The funds mentioned by Senator Sumaila are designated for the daily operations of senators’ offices, oversight activities, and community engagements, all of which are budgeted annually and properly accounted for. The National Assembly accounts for about 1% of the federal budget and has consistently adhered to this limit, even amidst financial constraints. The Senate remains committed to serving the nation with integrity and dedication, driven by a patriotic desire to revitalise Nigeria’s socio-economic fabric,” Adaramodu added.

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Promising reports on inflation and retail sales this week are giving some market participants added confidence. But it isn’t all good news for the economy, as a spate of reports on manufacturing showed signs of weakness in that sector, with data pointing to slowdowns in the labor market. 

Both industrial production and manufacturing capacity—measurements that track factory output —fell in July and were lower than economists expected, Federal Reserve data released Thursday showed. Additionally, monthly surveys of manufacturers conducted by the New York and Philadelphia Federal Reserve banks showed softness in the sector.

“Today brought a batch of manufacturing data that was rather grim,” wrote Wells Fargo economists Shannon Seery Grein and Tim Quinlan. “Manufacturing activity continues to flash recessionary signals, but other data, including July retail sales, suggest some portions of the economy can continue to chug along even as manufacturers face a more precarious environment.”

The manufacturing industry is often viewed as an indicator of the broader economy's health as more goods are produced when demand is high and the economy is growing. However, economists said much of the weakness in manufacturing can be attributed to the Federal Reserve's restrictive policy.

The Federal Reserve has held its influential fed funds rate at its highest level in more than two decades in an effort to discourage spending and in turn tame inflation. That's increased the cost of all kinds of borrowing, which has led to some of the main drivers of weakness in manufacturing.

For example, slagging automobile production is a key culprit in the depressed manufacturing activity. Vehicle manufacturing steeply dropped in July and is down nearly 10% over the past year. Economists blamed high interest rates on auto loans for the decline.

“Because consumers are aware that interest rates are set to decline in the near future, they may be holding off on making the big-ticket purchases that typically involve credit,” wrote Moody’s analyst Matt Colyar.

The Federal Reserve is widely expected to ease interest rates at its upcoming September meeting, which economists have long said could bring some relief to manufacturers. 

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A businessman has said he has had enough, as he narrated his experience with some roadside hawkers who wanted to rip him off.

He said he went to Utako market and wanted to buy pears, the hawkers came and he picked one of them. He said he wanted 5 baskets but the woman poured 3 baskets because she thought he was not seeing her and even argued that her money remained N2000 after he paid her N3000 until he showed her the dashboard.

He wanted buying plantain and he told the boy he wanted the biggest which cost N10,000 but on the way to putting it in the man’s boot he changed it. Him seeing this, he challenged him but he was swearing by his God’s name only for him to go and open the boot remove the plantain and went home with his money. He is tired of the attitude of d@g eats d@gs.

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Vice President Kashim Shettima has called on Nigerians to rally around President Bola Tinubu as he works to address the country’s socio-political, economic, and security challenges.

This came as he said that his house in Maiduguri was better than Tinubu’s house in Bourdillon, Lagos, and that there was nothing special about the President’s Bourdillon house. He declared that President Bola Tinubu is not in power to engage in primitive capital accumulation, stating that since he came in contact with the Nigerian leader, he (Tinubu) has been using only one wristwatch.

Shettima spoke in Abuja on Thursday at a book launch attended by the president’s chief of staff, Femi Gbajabiamila, Governor Biodun Oyebanji of Ekiti, and former Osun state governor, Bisi Akande, among others.

Shettima assured Nigerians that the benefits of the tough measures being implemented will soon be evident. The Vice President emphasised that the focus should not be on lamenting the nation’s past or present difficulties but on finding solutions to the core challenges.

Shettima said: “In President Bola Ahmed Tinubu, we have a leader that we can invest our trust in. I’m not playing politics, I’m speaking from the heart. I have seen the soul of Bola Tinubu, and he has a good soul. He means well for the nation. He wants to live in a place of glory. He is not in power to engage in primitive capital accumulation. He is in power to leave landmarks in the sands of time. He is the most demonised politician in Nigeria. The first time I went to his house at Bourdillon, I was looking forward to seeing a mansion comparable to Buckingham Palace, with gardens, and swimming pools, but there was nothing special about that house. My house in Maiduguri is better than the house in Bourdillon

And at the formative stage of the APC, we held a meeting in his house. They served us a variety of meals but he opted to take garri with groundnut for lunch. Since I have known him, he has been using only one wristwatch, and in fact, I dress better than him. He doesn’t even care. He has overcome all those odds to dress well. So we need to rally around this poor man. He has taken some bold steps. The economy that we met was in a huge mess.

But it wasn’t for us, we were part of the Buhari administration, we cannot deny that. We belong to the political family. It’s not about apportioning blame, but it’s about finding solutions to our nation’s needs. We knew there were challenges. Forget about the politics being played by the Atiku Abubakar and the obedient crowd, they all said they are going to withdraw the fuel subsidy.”

He noted that the economy is now on a path to sustained growth. “The President had the courage, the political courage, and the willpower to take far-reaching decisions, and it always comes at a price. When a woman is about to give birth, it’s a very painful process but after the child has come forth, it’s a cause for celebration. I believe that posterity will be very kind to this poor man.

He has taken far-reaching decisions, and the economy, we have crossed the river. The economy is now on a path to sustain growth. We are now exporting about 1.7 million barrels of oil per day, the Naira is stabilising against the dollar, and with the food security crisis that is confronting us, we cannot divorce ourselves from the realities in the global space. It’s not a localised phenomenon but ours was further compounded by the security challenges in the traditional food basket of the country, the North Central, and the North West but the security issues will be addressed, and be rest assured that in the coming months, Nigerians will see a sea of change in their fortunes. I want to ask all of us to rally around this poor man”.

Expressing concern over the years of neglect in basic education across northern Nigeria, Shettima highlighted the troubling involvement of underage children in the recent nationwide governance protests.He attributed this situation to the breakdown of family values and a dysfunctional family system, where parents increasingly struggle to control their children.

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