Video: Fuel subsidy favours the rich over the poor— IMF chief, Salassie
In this video, the Director of the African Department for international lender, IMF, Abebe Aembro Salassie, while responding to a question from a Kenyan journalist, stated that the body considered fuel subsidy a “regressive use of government spending.”
The IMF chief argued that subsidy regimes in the continent favoured the richer segment of society over the poorer segment.
The removal of fuel subsidies is a contentious economic topic in many African countries.
Watch the video below:
Video: Nigerian govt, labour union release terms of negotiation over fuel subsidy removal
In this video, Femi Gbajabiamila, Nigeria’s Speaker of the House of Representatives, who was recently appointed as President Bola Tinubu’s Chief of Staff, read out the resolution between the Federal Government of Nigeria and the organized labour —the Trade Union Congres and the Nigeria Labour Congress —over the removal of fuel subsidy following the suspended industrial action.
Gbajabiamila revealed that the parties had resolved to continue negotiations towards finding a mutually beneficial resolution.
Following the decision by Nigeria’s new administration to end subsidies on petroleum products, the NLC last week announced a plan to embark on a nationwide strike on Wednesday. The planned strike has now been suspended.
Watch the video below:
Video: Russian diplomat, Lavrov insists new global order emerging
In this video, the Russian Foreign Affairs Minister, Sergey Lavrov who is currently at a summit with counterparts from the BRICS bloc talks about the changes in the international system which makes the pursuit of national interest attainable for all in the system.
“A more just, polycentric international order is taking shape” Lavrov said.
It should be noted that Russia has backed several African countries that has taken diplomatic stances against the global-south, notably the United, France and Britain.
Kenya: Parliament approves appointment of Kamau Thugge as central bank governor
Months after throwing open the position for the country’s top banker, Kenya’s parliament has approved the appointment of Kamau Thugge...
Ghana presents ‘working proposal’ for debt restructuring— IMF sources
West African country, Ghana has made a major move at resolving its debt crisis as the country has presented debt...
Rwandan President, Kagame sacks over 200 military personnel in major shake-up
Rwandan President, Paul Kagame has sacked over 200 soldiers including top military brass and commanders from the Rwanda Defence Force...
Flutterwave partners Token.io to provide seamless bank transfer to users in UK, EU
Pan-Africa’s payments technology company, Flutterwave has entered into a partnership with Europe’s account-to-account (A2A) payment infrastructure provider, Token.io to power...
Kenyan govt to convert ‘evil cult’ forest into a memorial site
The Kenyan government says it plans to convert the Shakahola Forest, where bodies of over 250 members of a Christian...
UN war crimes court declares Rwandan genocide suspect, Felicien Kabuga unfit to stand trial
An 88-year-old Rwandan genocide suspect, Felicien Kabuga has been declared unfit to stand trial by judges at a United Nations...
FIFA honours Osimhen after amazing season with Napoli
Following his record-breaking season with Napoli where he scored 26 goals to win the Serie A top scorer award, Nigerian...
Despite revenue crisis, World Bank projects faster growth for Kenya
The World Bank on Wednesday said progress in the agricultural sector would likely lead to Kenya’s economic growth at a...
Angola, Portugal sign 13-point pact spanning finance, law, others
Angola and Portugal have signed a Memorandum of Understanding including 13 different agreements that cut across financial, legal and other...
Congo DR, Angola advance talks over decades-long oil block dispute
Discussions are on to end a decades-long dispute between the Democratic Republic of Congo and Angola over an off-shore oil...
Strictly Personal2 days ago
In defence of fuel subsidy in Nigeria, By Chidi Chinedu
Tech2 days ago
Samsung Electronics launches e-waste program in Kenya
Metro2 days ago
Kenyan protesters clash with police during demonstration against tax hike
Metro2 days ago
No end in sight as Sudan’s warring factions refuse to back down