Category: Business

The Managing Director of the Nigeria Railway Corporation, Dr Kayode Opeifa, has issued a warning against the vandalism of railway infrastructure, asserting that these critical components are not mere scrap materials but invaluable national assets essential for the country’s unity and economic development.

In an interview on Channels Television’s “Hard Copy,” on Saturday, Opeifa emphasised the significance of the railway system beyond its immediate transportation function, highlighting its role in binding the diverse Nigerian populace.

Addressing the persistent challenge of vandalism, particularly the theft of railway materials, the NRC MD stated, “We don’t have scraps in the Nigerian railway; we have national assets.”

He distinguished discarded waste and the functional, integrative infrastructure that forms the backbone of the nation’s connectivity.

Opeifa recounted encountering similar issues internationally but pointed out a unique local problem.

“I was at a conference in South Africa I think in the month of April and I was shocked that people are even stealing electric cables that powers their trade,” he noted, contrasting this with the prevalent issue in Nigeria. “but what do they steal here they steal the steel and they call it scrap.”

He stressed the destructive impact of such acts, explaining that these “scraps” are in fact fundamental elements that facilitate national cohesion.

“Those are the assets that link our people by culture, by religion, by tribe to each other. Through those tracks, you can transit from Lagos to Osogbo speaking Yoruba. You’ve got to learn speaking further when you get to Ilorin to Mokua and Niger, you change to Nupe from Nupe you start speaking Hausa and go further to speak Igbo. You speak fufide in Kaura Namoda or some other language when you go to the other side you are speaking calabari, you speak Edo then if you want to go further, you speak Hebrew and you move further you start speaking Tiv and when you get to Maiduguri, you are speaking Kanuri”, Opeifa said.

The NRC MD underscored that any act of vandalism is akin to striking at the very core of Nigeria’s national identity. “Anybody vandalising them is like going to the heart of our people, the integration that binds us together,” he lamented.

Opeifa appealed directly to local communities situated along the railway corridors, urging them to take ownership and ensure the survival of these vital assets.

He pointed out that rail lines often transform surrounding areas into major cities, thereby serving the direct interests of the local populace.

“Every part the railway passes through becomes a major city so it is in the interest of the locals too to make sure the railway survives,” he added.

While not detailing specific security measures taken, Opeifa implied ongoing efforts, stating, “I wouldn’t want to talk about what we have been doing so far but we just pray that we continue to do them and want to appeal to the communities who are supporting us to continue to support us the area we need them more is in the area of vandalism.”

Elon Musk has publicly condemned President Donald Trump’s proposed spending bill, calling it an “outrageous, pork-filled, disgusting abomination” just days after his departure from a White House advisory role, The Independent UK reported.

The billionaire entrepreneur, who recently completed a 130-day stint as a special government employee leading the Department of Government Efficiency, voiced his disapproval in a post on X on Tuesday.

 Musk sharply criticised the bill’s projected impact on the federal deficit, warning it would push the budget shortfall to $2.5trn and leave American citizens with an “unsustainable” debt burden.

“I’m sorry, but I just can’t stand it anymore. This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.

“Shame on those who voted for it: you know you did wrong. You know it.

“It will massively increase the already gigantic budget deficit to $2.5 trillion (!!!) and burden America (sic) citizens with crushingly unsustainable debt,” Musk posted on X Tuesday.

The spending bill, championed by Trump and currently under Senate debate, aims to slash taxes while increasing expenditures on oil drilling, the military, and border security. It also includes significant cuts to Medicaid and food assistance programmes.

The Congressional Budget Office estimates that the legislation could add $3.8 trillion to the national debt over the next decade.

In response to Musk’s remarks, White House Press Secretary Karoline Leavitt downplayed the criticism, reiterating the administration’s support for the bill.

“The president already knows where Elon Musk stood on this bill. It doesn’t change the president’s opinion.

“This is one big beautiful bill and he’s sticking to it,” Leavitt said.

During his time at DOGE, Musk had expressed concern that the bill undermined the department’s mission to trim federal spending.

At a weekend event, he reiterated his disapproval, stating, “I was, like, disappointed to see the massive spending bill, frankly, which increases the budget deficit, doesn’t decrease it, and undermines the work that the DOGE team is doing.

“I think a bill can be big or it can be beautiful. But I don’t know if it can be both. My personal opinion,” Musk said.

The legislation proposes $1.5trn in spending cuts as a condition to unlock $4.5bn in tax reductions. Should the necessary savings not be identified, the bill’s tax benefits would be scaled back proportionally.

According to the CBO, the bill would disproportionately benefit the wealthiest Americans while reducing resources for those in the lowest income brackets.

The price of corn in Enugu has risen by 50 per cent, according to a survey conducted by the News Agency of Nigeria on Tuesday.

The steep increase in the cost of both boiled and roasted corn has put the staple out of reach for many families and corn enthusiasts in the state.

Although the survey indicated that prices may fall in a few months when the majority of corn farmers begin harvesting, this seasonal influx is expected to first cause a temporary increase in supply, followed by a subsequent drop in prices.

Several farmers and sellers who spoke to NAN attributed the price hike to the lack of rainfall, a consequence of climate change. Those currently harvesting their crops also cited the high cost of hiring labourers and the rising prices of other market commodities as contributing factors.

A corn seller, Miss Amarachi Eze, explained that seven pieces of corn she purchased for N1,000 in 2024 are now sold for N2,000, with each piece retailing between N400 and N500, depending on size.

“If you sell all seven at N500, you make N1,500 profit, but if you sell at N400, the profit is N800. This is because I buy directly from the farmers.

“Out of this profit, you pay for transport, charcoal, and paper to serve customers. The cheapest bag of charcoal is now N500. When you add other expenses, it all contributes to the price increase,” she explained.

Another seller, who identified herself as Mama Ejima, noted, “The corn is just coming into season, as many farmers have not started harvesting, so prices will soon drop.

“I bought a small bag containing about 80 pieces for N25,500, which sold for N13,000 last year.”

She added that she had no corn selling for N200, with prices now ranging from N300 to N500. “At this time last year, corn was everywhere,” she said.

A farmer, Mr John Oroke, blamed the increase on delayed rainfall due to climate change, emphasising that fertiliser applied without sufficient rain can damage the crop.

He noted that corn requires constant rainfall for a good yield, but the current rainfall pattern in Enugu is inadequate for corn farming.

Another farmer, Mr Emmanuel Okafor, highlighted the high cost of hiring farm labourers. He also lamented that extreme heat and erratic rainfall had damaged his crops, and that part of his farm was destroyed by herders and their cattle.

“I am calling on the government to assist Enugu farmers with irrigation for year-round corn farming and to address the issue of conflicts between farmers and herders,” he appealed.

A buyer, Mrs Ogechukwu Nweke, expressed her frustration at the soaring cost of goods, including corn.

“But what can we do? We have to buy it. I am appealing to the government to support farmers to increase their yield,” she said.

(NAN)