Connect with us

Metro

Fuel subsidy removal, a blessing to Nigeria, govt insists

Published

on

Despite the excruciating hardship and hunger resulting from the unplanned removal of fuel subsidy by President Bola Tinubu as well as other policies, the Nigerian government says the decision is a blessing to the country as it has started yielding dividends.

Government mouthpiece, the Minister of information and National Orientation, Mohammed Idris, who made the assertion while interacting with journalists in Lagos, said that fuel subsidy removal had started delivering dividends as over $30 billion Foreign Direct Investments (FDI), had been attracted into the country so far.

Idris says though the people are feeling the pangs, the ultimate goal is that the country is reaping the benefits of the “bold reforms” carried out by President Tinubu.

“Because of subsidy removal, Nigeria has attracted over $30billion foreign direct investment in various sectors especially in manufacturing, telecommunications, healthcare, oil and gas among others,” the Minister said.

“These investments are already being realized. From the data provided by the National Bureau of Statistics, NBS, the Nigerian economy had grown by 3.46 per cent in the third quarter of 2023 against 2.4 in the preceding quarter. It was a better performance that was actually anticipated.

“There is something happening in the economy, it is gradual and it takes time before tangible results are seen by all.

“Only those who know how the financial system works will be able to see some of these things already happening. In January this year, the Nigeria stock exchange all share index recorded 100.000 point mark,” he said.

The Minister however, berated the Nigerian media over what he calls unbalanced reports, and challenging journalists to always balance their reportage with the positive things that the government had done in order not to scare potential investors, noting the various interventions by the federal government to cushion the effects of subsidy removal.

“To begin with, the monies that were given to the sub-nationals increased significantly. Governors that were earning less, finding it difficult to pay salaries now have more money at their disposal as a result of fuel subsidy removal.

“We are aware of the N35,000 that Labour has been clamouring for, the emphasis would be that by October 1, the President said he is going to give N25,000 wage award to every worker pending the new wage being negotiated with labour,” he added.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Metro

Zambia: Expert warns of food security threat due to climate change 

Published

on

A prominent Zambian climate-smart agriculture expert, Oliver Bulaya, has warned of a collapse of the county’s agricultural sector with a potential threat to food security due to the worsening impact of climate change.

Bulaya, who bared his mind in an interview with Zambia Monitor on Friday, warned that ignoring the crisis could lead to severe disruptions in the country’s food supply and economy.

“Unless concerted efforts are made, the country will continue facing dire consequences from climate change,” the expert noted.

He lamented a growing trend of farmers relocating to regions experiencing above-normal rainfall, such as the northern block, as they struggle with losses caused by climate variability.

Bulaya emphasized that the once-reliable rainfall areas like North-Western Zambia are now experiencing lower precipitation, as seen during the 2023/2024 farming season and cautioned that poor farming practices, which had already strained the Southern region, could lead to similar challenges in other parts of the country if proactive measures were not implemented.

Continue Reading

Metro

Outrage over murder of Nigerian beaten to death by South Africans inside estate security office

Published

on

The Nigerian community, under the auspices of Nigerian Citizens Association in South Africa (NICASA), has raised the alarm over the murder of a 37-year-old Nigerian, Julius Chukwunta, who was beaten to death by four South Africans inside an estate.

According to the association, Chukwunta, a native of Aninri Local Government Area in Enugu State, was reportedly attacked on Saturday, December 7, while driving to his residence in Midrand Protea Estate.

In a statement issued on Saturday by the President-General of NICASA, Dr Frank Onyekwelu, Chukwunta was blocked by the four men while approaching his residence.

Onyekwelu stated that information available to the association noted that after attempting to pass through, Chukwunta was met with resistance by the assailants, prompting him to seek help at the security office of the estate.

“At that moment, the four men allegedly attacked him, leaving him severely injured with a head wound,” the PG said.

“His female companion, who was sitting in the car, rushed to the security office and discovered him bleeding on the ground.

“In spite of attempts to call for help, the security office and residents did not assist in calling the police or an ambulance.

“After an hour, Chukwunta’s partner contacted her father, who, along with other family members, took him to Tembisa General Hospital.

“Chukwunta was placed on life support but later succumbed to his injuries and died at the Tembisa General Hospital on December 10, 2024.”

Onyekwelu also confirmed that the case was reported to the police by Chukwunta’s partner at the Midrand Police Station and was registered under file number 262/12/2024.

The NICASA President said the four suspects, aged 20, 24, 27, and 28, were arrested, and the case was presented in Alexandra Magistrate Court on December 13, 2024, where they were charged with murder.

“The court proceedings on December 18, 2024, saw three of the suspects granted bail of R10,000 each, while the fourth had not yet applied for bail. The case was adjourned to February 3, 2025.”

Onyekwelu however, expressed disappointment at the proceedings, wondering why three of the suspects were released on bail and vowed that the Nigerian community would continue to demand justice for Chukwunta and support his family.

He emphasised that the community would not rest until justice was served and the value of Nigerian lives was upheld in South Africa.

Continue Reading

EDITOR’S PICK

Culture1 hour ago

Ghana’s Afua Asantewaa begins second GWR sing-a-thon attempt

Ghanaian singer, Afua Asantewaa, on Saturday, began her second attempt at breaking the Guinness World Record (GWR) for the longest...

Tech2 hours ago

20 African tech-preneurs embark on Korean innovation tour

The African Development Bank Group’s Innovation and Entrepreneurship Lab has selected 20 promising tech entrepreneurs from various African technology ventures...

Metro2 hours ago

Zambia: Expert warns of food security threat due to climate change 

A prominent Zambian climate-smart agriculture expert, Oliver Bulaya, has warned of a collapse of the county’s agricultural sector with a...

Metro7 hours ago

Outrage over murder of Nigerian beaten to death by South Africans inside estate security office

The Nigerian community, under the auspices of Nigerian Citizens Association in South Africa (NICASA), has raised the alarm over the...

VenturesNow1 day ago

Moroccan annual inflation rises to 0.8% in November

Morocco’s statistics office has confirmed that the country’s annual inflation rate, as determined by the consumer price index, increased from...

Musings From Abroad1 day ago

Swiss company Mercuria partners Zambia’s IDC in new metals trading firm

According to a statement released by Swiss commodities trader, Mercuria, on Thursday, it has established a metals trading arm with...

Metro1 day ago

Nigerian activist remanded in prison for threatening President’s son

A Nigerian court has ordered a female activist, Olamide Thomas, to be remanded in prison custody for allegedly issuing a...

Metro2 days ago

Zambian law association kicks over suspension of two members

The Law Association of Zambia (LAZ) has kicked against the suspension of two of its council members, Arnold Kaluba, the...

Sports2 days ago

FIFA Ranking: Nigeria ends 2024 as fifth best team in Africa

Nigeria’s men’s football national team, the Super Eagles, ended the year 2024 as the fifth best team in Africa in...

Politics2 days ago

Burkina Faso releases 4 French spies after Moroccan intervention

In a diplomatic spat over their imprisonment, France and Morocco announced Thursday that four French nationals detained in Burkina Faso...

Trending