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Fuel prices hit record high in Zambia as petrol, diesel prices rise to K34.19, K32.15 per liter

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Fuel pump prices in Zambia have risen to their highest levels since the country’s independence, following a recent announcement by the Energy Regulations Board (ERB) that in February was petrol would be pegged at K34.19 from K29.98, while diesel would be sold at K32.15, representing a 14.04 and 7.31 percent hike, respectively.

In addition, the price of Jet A1 increased by 11.61 percentage points to K32.69 from K29.29 in January, while the price of paraffin stayed constant at K20.44 for the previous three months.

This implies that the cost of fuel would have a direct impact on the cost of transportation and other necessities, which would be detrimental to regular people.

More importantly, rising fuel costs are often believed to be the cause of inflation and slower economic expansion.

In a statement on Wednesday, Reynolds Bowa, the ERB Board Chairperson, blamed the drastic price hike on the ‘battled’ local currency, which had depreciated by 9.81 percent against the United States Dollar.

“The depreciation of the Kwacha has resulted in an increase in the domestic wholesale and pump prices of petroleum products with the exception of kerosene,” Bowa revealed.

He added that during the last fuel price review, the price of petrol rose globally by 0.53%, while the price of diesel and kerosene fell by 0.75% and 3.13%, respectively.

Bowa reports that while diesel allegedly decreased slightly from US$96.79 to US$96.06 per barrel, petrol jumped from US$84.33 to US$84.78 per barrel.

President Hichilema pledged during his opposition days to simplify the cycle of procurement, supply, and distribution in order to end middlemen’s extortion and to change fuel price taxation in order to lower the price of gasoline to about K12 per litre.

The then-opposition United Party of Zambia (UPND) was vocal against the former ruling Patriotic Front (PF) administration, claiming it had formed a cartel that was profiting K3 for each litre of fuel supplied in Zambia, driving up fuel prices. But during the past two years, the price of petrol at the pump has more than doubled, from about K17 per litre to K34.19 today.

Metro

Disability rights group says Cyber Security Act protects politicians more than vulnerable citizens

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In Kasama, the Disability Inclusion-Friendly Barn Development Foundation, dedicated to addressing the challenges faced by individuals with disabilities, says the Cyber Security Act primarily benefits politicians rather than ordinary citizens, particularly those with disabilities.

Amos Chileshe, the Chief Executive Director of the organisation, conveyed these concerns in an interview with Zambia Monitor.

Chileshe emphasized the Foundation’s focus on child welfare, including screening and assessment programmes tailored to children with disabilities.

He highlighted the alarming prevalence of cyberbullying targeting this vulnerable demographic, often overlooked by mainstream media.

“Despite our efforts to provide counseling and support services,” Chileshe lamented, “many instances of cyberbullying against individuals with disabilities remain unaddressed, unlike cases involving public figures.”

He underscored the disparity in media coverage, noting the tendency to portray persons with disabilities negatively, particularly those with intellectual disabilities, perpetuating stigma and shame, particularly in rural areas.

Calling for the safeguarding of individuals with disabilities online, Chileshe urged authorities to take decisive action against cyberbullying, stating its detrimental impact on their well-being.

Regarding media freedoms, Chileshe advocated for unrestricted licensing of media outlets to ensure comprehensive nationwide coverage.

“Media freedom is essential for democracy, development, and human rights.

“When people are denied the freedom to express themselves, constructive criticism becomes impossible, hindering progress and accountability,” he said.

This story is sponsored content from Zambia Monitor’s Project Aliyense.

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Nigerian govt denies bribery allegation by Binance CEO

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The Nigerian government has countered allegations by the CEO of cryptocurrency exchange giant, Binance, Richard Teng, that some government officials demanded a $150m bribe to settle the ongoing criminal charge filed against the firm.

In a publication carried by by the New York Times on Tuesday, Teng had alleged that unknown persons made the bribe demand to Binance officials shortly after they held a meeting with Nigerian lawmakers on January 8.

In the article, Teng accused the unidentified individuals of acting on behalf of government officials to demand $150m in cryptocurrency to resolve the tax evasion and money laundering case against the company and its officials.

Teng also claimed that the purported agent demanded “a significant payment in cryptocurrency to be paid in secret within 48 hours to make the issues go away.”

But in a statement on Wednesday, Minister of Information and National Orientation, Mohammed Idris, described the allegations as blackmail aimed at tarnishing the image of the country.

The Minister further dismissed the claims as “baseless and part of a wider attempt by Binance to evade accountability for alleged criminal activities.”

The minister noted that ongoing investigations against Binance in Nigeria centred on allegations of money laundering, terrorism financing, and illegal trading activities facilitated through its platform, stressing that it would not succumb to blackmail or coercion.

“This claim by Binance CEO lacks an iota of substance. It is nothing but a diversionary tactic and an attempted act of blackmail by a company desperate to obfuscate the grievous criminal charges it is facing in Nigeria,” Idris said.

“They lack any evidence and are merely a diversionary tactic employed by Binance to deflect attention from the serious charges it faces in the country.

“We would like to remind Binance that it will not clear its name in Nigeria by resorting to fictional claims and mudslinging media campaigns. The only way to resolve its issues will be by submitting itself to unobstructed investigation and judicial due process.

“The Nigerian government, therefore, pledged to address the legal issues surrounding Binance operations in the country.

“The government of Nigeria will continue to act within its laws and international norms and will not succumb to any form of blackmail from any entity, local or foreign,” the Minister added.

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