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Fuel subsidy removal: Nigerians to get N5,000 monthly stipend after removal

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Fuel subsidy removal: Nigerians to get N5,000 monthly stipend after removal - Naija News 247

The Federal Government is planning a N5,000 monthly subsidy for between 30 million and 40 million Nigerians as indication emerged that the cost of petrol may rise to N340 per litre.

Fuel subsidy removal: Nigerians to get N5,000 monthly stipend after removal - Naija News 247

These emerged on Tuesday at the presentation of the World Bank Nigeria Development Update, November 2021 edition.

The publication, titled: “Time for Business Unusual,” was presented in Abuja.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said that ahead of the target date of mid-2022 for the complete elimination of fuel subsidies, the Federal Government was working to cushion the impact on Nigerians.

Ahmed said: “We are working with our partners on measures to cushion potential negative impact of the removal of the subsidies on the most vulnerable at the bottom 40 per cent of the population.

“One of such measures would be to institute a monthly transport subsidy in the form of cash transfer of N5,000 to between 30 to 40 million deserving Nigerians.

“I agree with the report that with the expansion of social protection policies during the pandemic, the government has an opportunity to phase out subsidies such as the petroleum subsidy while utilising cash transfers to safeguard the welfare of poor and middle-class households.

“Towards this end, we intend to accelerate our structural reforms, particularly in the power sector, in governance, in business environment to unlock the huge potentials of the economy, scale up social safety net and deepen financial inclusion to reduce poverty and inequality gaps.”

Malam Mele Kyari, Group Managing Director and Chief Executive Officer of Nigerian National Petroleum Company Limited, said that subsidy would have been eliminated in 2020 but certain factors prevented it.

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He, however, said that the law provides that by the end of February 2022, the nation should be out of the subsidy regime.

Kyari said: “There will be no provision for it legally in our system, but I am also sure you will appreciate that government has a bigger social responsibility to cater for the ordinary and therefore engage in a process that will ensure that we exit in the most subtle and easy manner.”

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Kyari assured that fuel subsidy removal would definitely be achieved in 2022 as it was now fully backed by law, adding that the price of the product may range between N320 and N340 per liter.

On the hike in prices of cooking gas, he said that it was a demand and supply issue as there was a global crunch on supply of gas and many countries were now threatened by lack of supply in December.

  Tinubu visits Babangida allegedly over presidential ambition

He added that the product was not under any subsidy regime and therefore irrespective of where it was produced, would follow the global trend.

Kyari, however, assured that the company was working on increasing local production to meet the needs of consumers.

Naija News 247

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Buhari directed us to drop Osinbajo from Tinubu’s campaign – APC

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Buhari directed us to drop Osinbajo from Tinubu’s campaign – APC

Naija News

The All Progressives Congress (APC) has said President Muhammadu Buhari, directed that Vice-President Yemi Osinbajo, be dropped from the Campaign Council of the party’s Presidential Candidate, Asiwaju Bola Tinubu.

Naija News 247 had reported that Osinbajo’s name was missing from the he 422-man list realised by the Presidential Campaign Council Secretary, James Faleke, in Abuja on Friday night on Friday night.

The spokesman of the campaign, Festus Keyamo, said President Buhari asked that Osinbajo alongside Boss Mustapha, Secretary to the Government of the Federation, should not be part of the campaign council so they could focus on governance.

Keyamo disclosed this on Saturday in a statement while explaining the reason behind the decision to drop the vice president

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The statement read, “Our attention has been drawn to some stories making the rounds that there may be something amiss within the family of the All Progressives Congress (APC) as the name of our own revered and respected Vice-President, Professor Yemi Osinbajo, SAN, GCON, is not included in the list of the Tinubu/Shettima Presidential Campaign Council.”

“Nothing can be farther from the facts. For the avoidance of doubt, President Muhammadu Buhari , GCFR, is the Chairman of the Campaign Council. As a result, Mr. President has SPECIFICALLY directed that the Vice-President and the Secretary to the Government of the Federation, Mr. Boss Mustapha should be left out of the Campaign Council to concentrate on the governance of the country and administration of Government. As a responsible Party and Government, all the key functionaries of government cannot abandon their positions for electioneering campaigns. The APC has the mandate of the Nigerian people to administer the country on their behalf at least till May, 29, 2023, and this we intend to do with all sense of responsibility.

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“We will not toe the path of those who governed the country in an irresponsible manner before us and our Party is not in total disarray like those who wish to ‘rescue’ the country, but cannot simply manage their own internal affairs.”

  Tinubu visits Babangida allegedly over presidential ambition

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Again, three storey building collapses in Lagos

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Again, three storey building collapses in Lagos

Naija News

A three storey building has collapsed on Sonuga Street, Palm Avenue, Mushin Local Government Area of Lagos State.

According to Vanguard, an eyewitness said the incident happened at 12 noon on Friday amid heavy rainfall.

The Permanent Secretary, Lagos State Emergency Management Agency, Dr Olufemi Oke-Osanyinyolu, who confirmed the development said, “A building has collapsed in Mushin few minutes ago. The rescue operation is ongoing,” PUNCH reports.

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As of the time of filing this report, it could not be established if anyone was trapped in the rubble of the collapsed structure.

However, LASEMA, and Lagos State Rescue and Fire Service, have arrived the scene on rescue victims mission.

  Inuwa Wushishi: Ex Chief of Army Staff dies at 81

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Ayu manipulated PDP presidential primary – Wike

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Ayu manipulated PDP presidential primary – Wike

Naija News

The Rivers State Governor, Nyesom Wike, has accused the National Chairman of the Peoples Democratic Party, Iyorchia Ayu, of manipulating delegates at the party’s convention for former vice president, Atiku Abubakar, to clinch the PDP presidential ticket.

The governor revealed this on Friday in an ongoing media parley.

Wike alleged that Ayu played a vital role that was detrimental to other aspirants in the emergence of Atiku as PDP flagbearer.

He said if not for the love he and others in his camp had for the main opposition party, they could have prevented the PDP convention from holding.

  Hushpuppi: Full Text Of PSC's Latest Statement On Abba Kyari Investigation

The governor alleged that Ayu called several presidential aspirants to step down for the former vice president during the convention.

“He was calling aspirants to withdraw for Atiku. I was there, Saraki and others were there.

“He manipulated the delegates. There was nothing Ayu did not do to ensure Wike didn’t emerge,” Wike said.

The governor added, “Meetings upon meetings were going. Pressures were being mounted on people to step down.

“Even on the night of the convention meetings were going on. That is why we started our convention late.

“Some of the retired generals were involved. Some of the meetings were held in their houses. There is nothing they didn’t do for me to step down.

  Inuwa Wushishi: Ex Chief of Army Staff dies at 81

“Those who know me, know that I would have stopped the convention, even if heaven falls.”

Naija News 247 had reported that Wike camp announced their plan not to participate in the campaign council which was scheduled for inauguration next Wednesday after a meeting at Wike’s private residence in Port Harcourt, Rivers State, on Wednesday morning.

Reacting to the withdrawal from Wike’s camp, Atiku in a statement he personally signed reiterated his decision not to interfere in the demands for Ayu’s removal.

  Tinubu visits Babangida allegedly over presidential ambition

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