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Nigerian opposition criticises government for currency devaluation

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Abuja: The All Progressives Congress(APC), Nigeria’s main opposition party, Wednesday criticised the government for its move to devalue the country’s currency naira.

]The party objected that the policy would hurt the national economy which depends heavily on imports, as perCentral-Bank-of-Nigeria reported.

Oil prices have lost a third since June, putting pressure on naira which devalued 6.7 percent this quarter.

The Central Bank of Nigeria said Wednesday that it has devalued the naira, setting the new official exchange rate at 168 to the dollar from the previous rate of 155, citing falling oil prices as the trigger.

The move has drawn criticism from APC, whose spokesperson Lai Mohammed told a news conference Wednesday in Abuja that the devaluation of currency had implications on the people’s well-being and the economy.

“All it means for a country like ours, which is import dependent, is that more naira will be needed to buy raw materials and machines,” Mohammed said, adding it means cost of living would soon go up.

Nigeria has been grappling with dwindling revenue as the price of the Organization of Petroleum Exporting Countries (OPEC) basket crude fell at one point to $77.27 below the country’s 2013 budget benchmark of 78 dollars a barrel.

Godwin Emefiele, governor of Central Bank of Nigeria(CBN), said Tuesday that the current downturn in oil prices is not transitory but appears to be permanent.

Nigeria’s Minister of Finance, in an attempt to protect and insulate the economy from the volatility of the global crude oil prices, announced the first tranche of fiscal austerity measures, cutting the 2015 oil benchmark from $77.5 to $73 per barrel.

Nigeria, Africa’s largest crude oil producer, is the biggest importer of refined petroleum products in the continent, creating a lucrative market for refineries particularly in Europe and the US.

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Foodman Vishal Singh Honored for Hunger Free World Mission in Bangkok

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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.

The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.

Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.

Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.

For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.

During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.

Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.

Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .

Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.

In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.

During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.

In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.

He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.

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