Connect with us

World

Nigerian opposition criticises government for currency devaluation

Published

on

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.

Continue Reading

World

Lockdowns in China Force Urban Communities to Defy Censorship and Vent Frustration Online

Published

on

By

Anyip Mobile Proxies

Shanghai’s rich middle class is leading a wave of online dissent over the strict and prolonged lockdowns imposed in various parts of the country. Chinese internet censorship is struggling as patience is wearing thin in many urban centers, coming up with creative forms of online protests.

Social Media Posts Revealing Lockdown Tension in Shanghai

Drawn-out lockdowns are nothing new in China as authorities insist with the nation’s zero-Covid policy since the start of the pandemic. Currently over This time around, however, metropolitan areas like Shanghai are increasingly difficult to keep quiet, given that its more than 25 million residents have seen weeks of total isolation along with food shortages and many other service interruptions.

Dozens of towns and reportedly over 300 million Chinese citizens have been affected by lockdowns of different severity. As expected, urban netizens have been most outspoken over their difficulties by finding creative ways to get around state censorship and bans placed on topics, news comments and spontaneous campaigns.

Shanghai residents have been using mobile proxies and hijacking seemingly unrelated hashtags to talk about healthcare issues, delivery failures and the overall severity of their situation. The “positive energy” that the Chinese government wants to transmit during the recent prolonged series of lockdowns does not come naturally to those counting food supplies and online censors are working hard to filter words, trending topics and undesired social media sharing.

WeChat groups and message threads are under constant monitoring. Posts questioning the zero-Covid approach have been quickly deleted, including by leading Chinese health experts like Dr. Zhong Nanshan. Video footage is soon censored and protests and investigations are quickly made to disappear.

Where this has not worked, officials have exposed banners with warnings and outright threats like “watch your own mouth or face punishment”, while drones have been patrolling the city skies. Yet, if anything, this has led to further tensions and unspoken confrontation with Shanghai’s educated and affluent middle class.

Creative Online Solutions Harnessing Civic Energy

Announcements by Chinese social media that they would be publishing the IP addresses of users who “spread rumors” have not helped either. Tech industry research has shown that much of Asia’s tech-savvy population has a habit of using mobile proxies and other privacy tools, quickly finding workarounds to browse the internet freely and talk to the world about the hottest topics.

The sheer volume of forbidden posts is already a challenge for the very censorship system, experts explain. Unable to track all trending hashtags, state workers overlook topics that speak about the US, Ukraine or other popular news. Linking human rights elsewhere to their situation, Chinese online dissidents establish their informal channels and “hijack” the conversation to share personal or publicly relevant information about the Covid suppression in their town.

Sarcastic and satirical posts still dominate. Others hope to evade the censors by replacing words from famous poems or the national anthem. One thing is certain – social media, when harnessed with the right creativity, has proven its ability to mount pressure on the government in even some of the most strictly controlled tech environments like China.

Continue Reading

Trending