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Fuel subsidy removal, a blessing to Nigeria, govt insists

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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.

Metro

Zambian govt targets K1bn in unremitted non-tax revenue

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The Zambian government says it is intensifying efforts to recover over K1 billion in unremitted non-tax revenue, with the end of October as the targeted dateline.

Finance and National Planning Minister, Situmbeko Musokotwane, who made the announcement, said the office of the Auditor General has resolved to ensure transparency and accelerate collection, with plans to publish the details of all organizations and individuals who are yet to remit these funds.

Musokotwane noted that a report submitted by the office of the Accountant General to the Secretary to the Treasury showed that as of June 2024, a total of K1,078,158,586.39 in non-tax revenue remained outstanding.

He noted that the funds owed by various stakeholders to government ministries and agencies are crucial for financing key public services.

“To accelerate the remittance of outstanding revenue by respective stakeholders, the government will publish details of all organizations and individuals who are owing. We anticipate positive results from the exercise,” Musokotwane said in a statement issued in Lusaka on Wednesday.

He emphasized that failure by some organizations and individuals to remit non-tax revenue was inconsistent with the government’s macroeconomic goals for 2024, which aimed to boost domestic revenue collection to at least 22 percent of the Gross Domestic Product (GDP).

“Undoubtedly, to achieve this target, the assigned ministries and agencies have the full backing of the Treasury in pursuing all relevant channels to ensure that the targeted non-tax revenues for various goods and services they render on behalf of the government are remitted by the end of October 2024,” Musokotwane said.

He added that the unremitted revenue relates to services provided in sectors including energy, tourism, labour, water development and sanitation, transport and logistics, and home affairs and internal security.

The minister reiterated that government remained committed to ensuring that all outstanding non-tax revenue was collected within the stipulated time frame to strengthen public finances and support key national priorities.

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Metro

With absence of President, VP, Nigerian Presidency insists no leadership vacuum

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With the absence of President Bola Tinubu and his Vice, Kashim Shettima, from the country, the Nigerian Presidency insists there is no vacuum in governance.

Tinubu had travelled to the United Kingdom on October 3 in what the Presidency had said was a two-week working vacation without transmitting powers to his vice.

On Wednesday, October 16, it was also announced that Shettima had jetted out to Sweden, which made many Nigerians question why both the President and the Vice President should be absent from the country at the same time.

But in a statement by Special Adviser to the President, Information and Strategy, Bayo Onanuga, the Presidency sought to clarify the position, stating that there was no need to panic as governance was still running smoothly despite the absence of the duo.

“It is important to note that the President and Vice President are fully engaged with the nation’s affairs, even while they are away. There is no leadership vacuum in the country,” Onanuga said.

President Tinubu left the country on Oct. 3 and is on a two-week working vacation. During this time, he has been busy answering phones and issuing directives on matters of state.

“He will soon return to the country before the vacation officially expires.”

He also explained that the vice president departed the country Wednesday for Sweden on an official visit, and all state organs were functioning as usual.

“The Senate President, the Secretary to the Government of the Federation, Ministers, and Service Chiefs are all in their respective positions, ensuring the smooth operation of the government.

“We had a similar situation in 2022 when former President Buhari and former Vice President Osinbajo were found to be simultaneously out of the country.

“President Buhari attended UNGA 77, while Osinbajo participated in the burial of Queen Elizabeth ll,” he noted.

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