Uncategorized
Why are eggs so important in U. S. battle against inflation?
The Justice Department has launched an investigation into the reasons for the surge in egg prices, the Wall Street Journal reported citing people familiar with the issue. Antitrust enforcers will focus on whether producers have conspired to hike egg prices.The price of eggs has risen by 50% over the past year. The average cost of a dozen Grade A large eggs hovers at $4.95, up 240% from $1.46 five years ago. We grudgingly accept those kinds of price hikes with real estate, especially if we are homeowners. But eggs? Not so much. They’re a symbol of our economic anxiety and — critically — a cheap source of protein and many other nutrients. The rise in egg prices and shortage in egg supplies unnerves consumers and makes us question the wider economic landscape. About that anxiety:
In MarketWatch’s “call of the day” on Monday, a Wall Street bull, Yardeni Research president Ed Yardeni, appears to be getting nervous. “We’re wondering whether Trump Tariff Turmoil 2.0 might trigger a rare kind of flash crash unaccompanied by a recession,” he said. In an interview broadcast in Fox News on Sunday, President Trump refused to rule out a recession related to his tariffs. “I hate to predict things like that. There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America,” the president said. Eggs are an “inelastic” commodity: as prices rise customers don’t necessarily stop buying them; there are precious few alternatives. Economist Jason Lusk says a 1% rise in price only reduces demand by 0.15% and, if the supply falls by 1%, prices will rise by about 6.67%. Such is the fascination with egg prices that some people are betting on the price of eggs. Others are investing in eggs or, more specifically, egg producers like Cal-Maine Foods, in the hopes that prices continue to increase. A staple in many other foods, from waffles, omelettes and cakes to ramen and pancakes, if the price of eggs continues to rise, so does the cost of all those other recipes. Psychologically, people seem to get more upset about eggs than, say, a Starbucks coffee.
They are fragile, have a short shelf life and difficult to import. It takes up to five months to raise egg-laying chickens. Paul Harrison, an Australian economist, has likened egg shortages to the panic over toilet paper during COVID. One obvious difference: You can stockpile toilet paper. A shortage of eggs “serves as what psychologists call a ‘heuristic,’ a mental shortcut that shapes our broader perceptions,” he wrote recently. “When something as mundane as eggs becomes difficult to obtain, it triggers a feeling that something is fundamentally not working.” Eggs are now so valuable that they have been targeted by organized criminal gangs. Last month, 100,000 eggs worth an estimated $40,000 were stolen from a trailer in Pennsylvania. At current prices, that’s roughly the equivalent to an American football’s weight in gold.
The Trump administration last month announced a $1 billion plan to combat avian influenza, to protect the U.S. poultry industry and — in theory, at least — egg prices. But questions remain about the role of producers and retailers in the shortage of eggs, and spike in prices. They are an integral part of the weekly grocery basket and a potent symbol, illustrating the threat of inflation to American household budgets. More than actual rotten eggs, overpriced eggs are a prime ingredient for politicians to throw shade at each other. Rep. Kristen McDonald Rivet, a Democrat from Michigan, had this to say to the AP about egg prices: “When that is your day-to-day worry, the philosophical conversations about a constitutional crisis or the democracy is simply not a luxury you can afford.”
There seems to be little hope, so far, that prices will go down anytime soon. The United Egg Producers, a trade group, blamed the outbreak on bird flu and said farmers are doing their best to fight against this deadly disease. Millions of birds have been America is obsessed with egg prices, but do we really know why they’re so important? Here’s a taster: one 52-gram egg contains 74 kilocalories, 5.2 grams in fat (only 1.7 grams of which are saturated), 70 milligrams of sodium and — drum roll, please — 6.3 grams of protein. The average woman needs about 45 grams of protein a day, while the average man needs about 55 grams of protein. What’s more, the average egg is rich in calcium, potassium and phosphorus, and trace amounts of copper, iron, manganese, magnesium, selenium and zinc. Studies suggest eggs are connected to male sexual function and fertility, and a recent study in the British medical Journal found they could be related to a lower risk of depressive symptoms.
Eggs are also rich in a nutrient called choline, which has a role in early brain development. Health-line says eggs “are among of the most nutritious foods on earth,” pointing out that one large egg contains 9% of the recommended daily allowance (RDA) of vitamin B12, vitamin B2 (15% of the RDA), vitamin A (6% of the RDA), vitamin B5 and selenium: (22%). It’s little wonder, given their nutritional value, that people have been buying in bulk: In recent months, Costco and Whole Foods imposed restrictions on the number of eggs customers can buy at one time. Kroger reported that egg prices rose 70 per cent during the fourth quarter.
Uncategorized
Customs seizes multi million-naira petroleum products in Adamawa
The Nigeria Customs Service under ‘Operation Whirlwind’ has seized petroleum products worth N181.6 million in eight weeks between the Nigeria and Cameroon borders.
ACG Kolapo Oladeji, national coordinator of Operation Whirlwind, disclosed this at a news conference on Thursday in Yola. Mr Oladeji said the seizures were made across various smuggling flashpoints in Adamawa in 55 separate operations.
“This operation is geared towards energy and food security to foster economic growth in line with the core mandates of the President of the Federal Republic of Nigeria, Bola Tinubu. In line with these mandates, the Operation Whirlwind Zone ‘D’ had repositioned all its machinery across the area of its responsibilities and ensured that the border became airtight,” he said.
He warned the smugglers to stop such acts and solicited the continued support and cooperation of all stakeholders in the state’s socioeconomic development. “We will ensure that the supply chains of these economic wreckers are truncated in accordance with enabling laws. This fight has no doubt helped in transforming the nation’s economy and strengthening the security of our borders,” he said.
He further said that the seized petroleum products would be auctioned to the public. Abidemi Adewumi-Aluko, assistant legal adviser of the attorney general of the federation, described the auction as a symbol of reclaiming resources to ensure that the benefit of petroleum remained in Nigeria. She said that such offences attracted life imprisonment because they threatened national security. NAN
Uncategorized
Chevron to join Nigeria oil licence auction, plans rig deployment in 2026
Chevron said on Friday it will participate in Nigeria’s next oil licensing round and plans to deploy a drilling rig in late 2026 as it seeks to expand operations in Africa’s top energy producer.
Jim Swartz, chairman and managing director of Chevron Nigeria/Mid-Africa Business Unit, said the company aims to grow its footprint in Nigeria, citing improved regulatory clarity under the Petroleum Industry Act, PIA.
“We will participate in the next licensing round. Our intention is to continue to grow in Nigeria,” Swartz told reporters after meeting the upstream regulator. Nigeria’s licensing rounds are part of efforts to attract investment and boost output after years of underinvestment. The 2025 round will offer 50 fields through a digital platform, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said. TotalEnergies has also expressed interest in joining an auction.
Chevron recently agreed to acquire a 40% stake in two offshore exploration licences, PPL 2000 and PPL 2001, from TotalEnergies and is seeking regulatory approval to accelerate development.
Swartz said it plans to bring in a rig in late 2026 to drill a newly discovered resource near Agbami and extend leases on existing assets. Swartz added that Chevron had recorded no oil theft or sabotage in the past year, the longest period without disruptions in its Nigerian operations, a sign of improved security in the sector. Reuters
Uncategorized
Don’t patronise touts, immigration personnel available 24/7—CGIS
Comptroller General of the Nigeria Immigration Service NIS, Kemi Nandap, on Friday urged Nigerians to shun touts and middlemen when applying for passports or other immigration services, insisting that the Service operates round-the-clock channels to assist citizens directly and transparently.
Nandap made the call in Abuja while delivering the keynote address at the fourth-quarter Nationwide Sensitization Campaign against corruption and for improved service delivery.
The campaign, themed “Innovating for Transparency and Efficiency: Strengthening Service Delivery and Combating Corruption Through Reforms,” highlights the NIS’ ongoing efforts to modernize its operations and eliminate corrupt practices.
Addressing participants, the Immigration chief said the era of relying on agents or informal handlers should be over, as the Service has put in place fully digital, citizen-focused systems that allow applicants initiate and track their processes from the comfort of their homes.
She stressed that the NIS has functional 24-hour call lines, an active call centre, constantly monitored emails and social-media channels, all designed to ensure citizens are attended to promptly and without intermediaries.
“You don’t have to go to a tout, you don’t have to go to an agent. You can sit in the comfort of your home and apply for most of our facilities. Once you avoid putting yourself at the mercy of someone, you stay in control of your application and can always reach us at any time”, she stated.
Nandap noted that recent reforms, including automated passport application processes, biometric-based verification, expanded digital architecture and streamlined service-centre operations, have significantly reduced delays, improved transparency and minimised opportunities for extortion.
She explained that passport processing timelines have improved across multiple commands following the rollout of automated scheduling and digital communication platforms.
The Comptroller General also emphasized that transparency remains the foundation of effective immigration management.
She highlighted enhanced internal audits, stricter enforcement of ethical codes and redesigned workflows as key elements of the NIS’ anti-corruption strategy.
With digital payments and automated checkpoints reducing cash interactions, she said the Service is committed to stamping out malpractice at all levels.
Nandap further disclosed that the NIS has deepened collaboration with sister agencies, civil-society groups, international partners and the diplomatic community to align operations with global border-management standards.
These partnerships, she said, are helping to harmonise processes, promote accountability and support ongoing reforms.
She appealed to citizens to familiarise themselves with official procedures, follow approved channels and use the Service’s feedback platforms—including suggestion boxes, hotlines and online desks—to report challenges or offer recommendations. “We are here for Nigerians. Tell us how to serve you better,” she said.
The Immigration CG also paid tribute to officers who lost their lives in the line of duty in Mogolu, Tuga, Tula and Niger State, calling their deaths a painful reminder of the risks faced daily by immigration personnel.
She urged Nigerians and officers alike to embrace positive change, adding that sustainable reform depends on individual commitment and collective responsibility. “The change we want starts with each and every one of us,” she said.
-
News3 days agoNigeria to officially tag Kidnapping as Act of Terrorism as bill passes 2nd reading in Senate
-
News3 days agoNigeria champions African-Arab trade to boost agribusiness, industrial growth
-
News3 days agoFG’s plan to tax digital currencies may push traders to into underground financing—stakeholders
-
Finance1 week agoAfreximbank successfully closed its second Samurai Bond transactions, raising JPY 81.8bn or $527m
-
Economy3 days agoMAN cries out some operators at FTZs abusing system to detriment of local manufacturers
-
News1 week agoFG launches fresh offensive against Trans-border crimes, irregular migration, ECOWAS biometric identity Card
-
News3 days agoEU to support Nigeria’s war against insecurity
-
Uncategorized3 days agoDeveloping Countries’ Debt Outflows Hit 50-Year High During 2022-2024—WBG
