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Home > Fuel subsidy
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Fuel subsidy

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Kwara Govt speaks on subsidy Palliatives, inaugurates distribution committee

by Andrew Mailafia August 18, 2023
written by Andrew Mailafia

Kwara State Government has confirmed it had received N2 billon out of the N4 billion fuel subsidy relief funds that the Federal Government released for purchase of rice to be distributed en masse to vulnerable members of the public in the state.

The state also said it awaits a balance of N2bn of the funds as well as N1bn worth of maize (40,000 bags) which the Central Bank of Nigeria is selling to each state from the national strategic reserve.

Explaining the details of the N5bn Federal Government’s relief package earlier reported in the media, the Chief Press secretary to the Governor, Rafiu Ajakaye said that each state is to receive N4bn to purchase bags of rice in the current market value and distribute same to citizens in the state, with the most vulnerable persons as the first priority.

“Each state is to also receive N1bn worth of maize from the strategic national reserve through the Central Bank of Nigeria. This is not in form of cash; it is maize. As of Friday August 18, 2023, the Kwara State Government has received N2bn of the N4bn. It awaits the balance. The state also awaits the maize from the CBN. It is important to mention that 48% (N1, 920,000,000.00) of the N4bn is a noninterest loan that will be paid back over a period of 20 months at N120, 000,000.00 monthly. This deduction begins in November.

“The state government has consequently ordered immediate purchase of rice in the value of the amount.

The governor however to encourage transparency mandated the kwara State Police commissioner, Ebun Adelesu who will be supported by the Emir Shonga Dr. Haliru Yahya, state chairman of Jama’átu Nasrul Islam and Christian Association Chairman (CAN) chairman (or their representatives), Dr. Lawal Olohungbebe and Mrs Grace Funke Bolaji (both representing CSOs); chairman of the Nigerian Institute of Public Relations Dr (Mrs) Saudat Abdulbaqi, Mr. Steven Awoyale (youth), a representative of the DSS, a female representative each from the ‘disability’ community and the Nigeria Union of Journalists (NUJ), and Permanent Secretary (General Service) in the Office of the Secretary to the State Government Alhaji Abdulrahman Ameen Babatunde (Secretary).

He noted that further details on the palliatives will be released by the committee.

“Similarly, the state government hereby confirms receipt of the remaining three trucks of the bags of rice. The government had on August 8, 2023 announced delivery of two truckloads of bags of rice, while awaiting three more.

“Distribution of the remaining three truckloads has commenced through various channels of reaching out to the public, including lawmakers who represent the 24 state constituencies and other stakeholders in the state.”

The State Government urged that these palliatives be shared in the spirit of fairness to all, particularly to the most vulnerable persons, because it is simply impractical for everyone to get at the same time.

August 18, 2023 0 comments
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Headlines

NLC protest: Port Harcourt refinery to commence operation by December- Tinubu

by Andrew Mailafia August 2, 2023
written by Andrew Mailafia

PRESIDENT Bola Tinubu has assured the leaders of the organized labour union across the country that the Port Harcourt refinery will commence operations by December 2023.

The president made this known in a statement released on Wednesday, August 2.

The labour leader also noted that the president made a series of promises following which they agreed to return to the negotiations table.

The statement jointly signed by the national presidents of the Nigeria Labour Congress, Joe Ajaero and Trade Union Congress, Festus Osifo hailed Nigerians for supporting the nationwide protest.

According to the statement, “it is pertinent to inform Nigerians that the extent of the success of the protest is underlined by the request of the President of the federal republic of Nigeria; Senator Ahmed Bola Tinubu to meet with the leadership of the NLC and TUC in a closed-door session.

“The engagement was fruitful that immense mileage was obtained with regards to the issues that bogged down the work of the Presidential Committee on Subsidy removal and necessitated the protest viz; He committed to an immediate restructuring of the framework for engagement in line with the input of the Labour leaders.

Noting that Port Harcourt Refinery will commence production by December this year, the statement stressed that Tinubu pledged to ensure that Agreement is reached on the Wage Award for Nigerian workers immediately.“

He promised to unveil a workable roadmap to the CNG alternative next week. On the strength of the president’s pledge and commitment, we have decided to return to a new and reinvigorated dialogue process to allow for full implementation.

“Once again, we thank Nigerians while we wait for the Government to fulfill its own part of the understanding as agreed with His Excellency; the President.”

August 2, 2023 0 comments
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Headlines

We can’t remove Fuel Subsidy – President Buhari

by Folarin Kehinde June 22, 2022
written by Folarin Kehinde

In a Bloomberg interview yesterday, president Buhari defended the federal governments decision to keep paying subsidy.

The president remarked that the persistent calls on Nigeria by the international monetary fund (IMF) and the world bank was untenable.

In his words, president Buhari said that “Most Western countries are today implementing fuel subsidies. Why would we remove ours now? What is good for the geese is good for the gander.”

“What our Western allies are learning the hard way is that what looks good on paper and the human consequences are two different things.

My government set in motion plans to remove the subsidy last year, but after further consultation with stakeholders and as events unfolded this year, such a move has become increasingly untenable.”

“Boosting internal production for refined products will help. Capacity is due to increase later this year and next as private players and modular refineries e.g Dangote refineries, BUA group refineries and Walter Smith refineries etc come on board.

The exchange rate is also susceptible to external shocks that can suddenly and severely affect Nigerian citizens.

As we stop up domestic production both in fuel and food, the inflationary threat will diminish and we can move towards unification”.

June 22, 2022 0 comments
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