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Algeria’s inflation rate rises to 9.6%, first in three years

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For the first time in three years, the inflation rate in Algeria has risen to an all time high of 9.6 per cent at the end of August, in what economists in the North African country say is as a result of rise in the prices of basic commodities globally and its impact on local markets.

The Deputy Director-General of the Algerian National Office of Statistics, Hamid Zaydouni, who disclosed this during a hearing at the Finance Committee of the People’s National Assembly on Thursday, said Algerian market recorded an inflation rate of 7.23 per cent during 2021, the highest in nearly three years.

“Algeria is witnessing an unprecedented rise in the prices of various products, some of which have increased by more than 100 per cent, amid warnings by consumer protection associations that the rise would weaken people’s purchasing power,” Zaydouni said.

“Over the past three years, the inflation rate in Algeria ranged between 3.5 and 7.5 per cent.

“The high prices have affected subsidised goods such as cooking oils, semolina and farina,” he added.

Zaydouni added that from 2021, the inflation rate of 7.2% was calculated but the average inflation rate has been 8.8% per year since then.

Since the outbreak of the Coronavirus pandemic in 2019, most African countries have been on the threshold of rising inflation as global economy had experienced enormous pressure.

The war between Russia and Ukraine which broke out in February has also contributed to the economic crisis in the continent with inflation growing at an alarming rate, often forcing countries to raise interest rates, hoping to slow down the inflation which has continued to rise to all time high.

According to statista.com, the “overall inflation rate in Sub-Saharan Africa in 2022 is expected to grow today whopping 12.2 percent, with the surge following a global tendency, as consumer prices soar all over the world, impacting advanced as well as emerging and developing economies.”

As at August, Sudan had the highest inflation in Africa as of 2022 with the rate reaching 245 percent.

Sudan is closely followed by Zimbabwe with the second-highest inflation on the African continent, averaging 90 percent.

Countries like Nigeria, South Africa, Ghana, Egypt, Tunisia, Kenya, amongst others have had to raise their interest rates at some point due to inflation.

 

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Nigeria loses N1.29trn annually to crude oil theft, vandalism— Reps Speaker

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Speaker of Nigeria’s House of Representatives, Hon. Abbas Tajudeen, has revealed that the country loses a whopping sum of N1.29 trillion to crude oil theft, pipeline vandalism and other forms of criminality in the oil sector.

Tajudeen, who spoke at the commissioning of the Nigerian Navy Training Command at Eleme, Rivers State in South-South Nigeria on Friday, said about 300,000 barrels of crude oil were also lost per day to oil theft by bunkerers.

Tajudeen who was represented at the event by the Chairman, House of Representatives Committee on Defence, Hon. Babajimi Benson, stated that the crude oil theft and pipeline vandalization has continued to pose a challenge to the Nigerian Navy which has hindered the service from rising up to its mandate of contributing to the survival of the national economy.

“Unfortunately, it is estimated that Nigeria loses over 300,000 barrels of crude oil daily to oil theft, pipeline vandalism and other forms of criminality. This has led to revenue losses estimated at N1.29 trillion annually,” the Lower Chamber Speaker said.

Speaking further on steps taken to curb the menace, Abbas said:

“Concerned about the adverse effects of oil theft in Nigeria, I inaugurated a special committee on Crude Oil Theft Loses on November 22, 2023, to determine decisive remedial actions to be taken.

“I commend the Nigerian Navy on the steps taken so far, and I urge the Navy to sustain the momentum.”

Also speaking, Nigeria’s Chief of Naval Staff, Vice Admiral Emmanuel Ogalla, thanked the Rivers State Government for the donation of the entire complex to demonstrate the existing cordial relationship between the Nigerian Navy and Rivers State.

Ogalla said the relocation of the Headquarters Naval Training Command from Lagos to Ebubu-Eleme in Rivers State would bolster human capacity development of personnel of the Nigerian Navy.

“It will also assist in providing the enabling environment for learning and enable us to carry out the statutory manning of the entire state, and national security of our country.

“This is in line with Mr President’s mandate given to us to provide the enabling environment for the harnessing of the enormous economic potential inherent in our blue economy for the overall good, national prosperity and development.”

The Naval chief assured that the Nigerian Navy would continue to carry out operations to ensure security of the nation’s maritime domain as well as secure Rivers State and the entire Niger Delta region.

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‘Cyber Act fails to protect the vulnerable,’ Student demands media inclusivity for persons with disabilities

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Peter Libila, a student at Icof University’s Chipata campus, highlights the lack of awareness among individuals with disabilities and those residing in rural areas about their digital rights, resulting in limited access to media platforms for free expression.

Libila underscored the marginalization of people with disabilities in discussions on community development, leading to their exclusion from voicing their perspectives.

In an interview with Zambia Monitor in Eastern Province, Libila discussed the discrimination and stigma faced by individuals with disabilities in the media landscape.

Read More: Differently-abled person speaks on challenges impacting freedom of expression in rural areas

“Persons with disabilities are often overlooked when it comes to community developments,” he emphasized.

Moreover, as someone with a physical disability, Libala pointed out shortcomings in the Cybersecurity Act which failed to adequately address online barriers to freedom of expression.

“The act fails to ensure online safety for all; it only offers protection to certain groups while neglecting others,” he asserted.

He stressed the importance of bridging these gaps to foster inclusivity within the media.

“There’s a lack of sign language interpreters in most media outlets, which poses challenges for the deaf community,” he observed.

Libila also emphasized the necessity of providing braille reading materials and writing tools for individuals who are blind.

“Even basic resources like braille books are often unavailable for the blind,” he lamented.

This story is sponsored content from Zambia Monitor’s Project Aliyense.

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