NEWS
FG Pleads For More Time Amid Planned Nationwide Protest
In response to the economic hardship spurring a planned nationwide protest on August 1, the Federal Government has committed to resolving the underlying issues to ensure national peace and stability.
Secretary to the Government of the Federation, George Akume, held a crucial closed-door meeting with ministers on Wednesday to address the situation.
After the meeting, Minister of Information and National Orientation, Mohammed Idris, emphasized the government’s dedication to resolving the concerns.
“We will not sleep until these issues are addressed,” Idris declared.
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According to him, the government is actively engaging with protest organizers and stakeholders to find a resolution and avert the planned demonstrations.
He said, “We have discussed issues of national interest and all of us are working for Nigeria and we hope and believe that Nigeria is going to be great again. The planned protest is a family matter. All issues will be resolved in a way to ensures the peace and stability of the country.
“No one is going to sleep. Those who are agitating and asking for protests are Nigerians, they are our brothers, they are our sisters, they are all Nigerians and those in positions of authority; the ministers, the President, everybody, we are all Nigerians too. So, this is a family matter.
“This is a Nigerian family issue and all of us are looking at this issue very well and we hope that peace will prevail at the end of the day. This is not a peculiar situation. Engagement has been ongoing. The President has met severally with all key stakeholders. I have also been meeting with stakeholders, other government functionaries have also been meeting with other key stakeholders.”
He added that the President’s message to all citizens is to remain calm and give him more time.
Idris said, “Like I said yesterday, everyone is listening; we are all listening, the President is listening and he has a message for all Nigerians, that message is that they should all calm down, they should please give the man more time. Everything they asked for, all their pleas will be answered.”
The Committee on Consequential Adjustments in Salaries for Civil Servants has confirmed that the newly approved minimum wage will be implemented starting July 29, 2024.
This was disclosed in a Memorandum of Understanding (MoU) issued at the conclusion of the committee’s meeting in Abuja on Friday.
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The MoU reads, “The National Salaries, Incomes, and Wages Commission (NSIWC) will prepare and release the necessary salary templates for other consolidated salary structures. The implementation date for the new wage will take effect from July 29, 2024.”
The committee, comprising 16 members, was set up to oversee the execution of the National Minimum Wage Act of 2024. This legislation raised the country’s minimum wage from ₦30,000 to ₦70,000.
Among its key responsibilities, the committee is tasked with negotiating salary adjustments across various sectors and developing a template for implementing the newly approved wage structure.
With the pump price of Premium Motor Spirit (PMS) popular in the streets as petrol, hovering around approximately N1000-N1300 per litre, concerns are mounting about the viability of fuel subsidies in Nigeria.
Energy policy analyst, Adeyemi Adeoye, has underscored the critical role of the Nigerian National Petroleum Company Limited (NNPC Ltd) in this issue, shedding light on who bears the subsidy costs.
He shared his views on TVC News on Friday.
Biztellers reports that the pump price of petrol has risen from below N200/litre at at May 29, 2023 to around N1300/litre as at September 20, 2024, with little variations depending the part of Nigeria, consumers are buying from.
Read More: Fuel Pricing Should Serve Public Interest, Not Profit — Yemi Adeoye
He stated, “Only the NNPC can engage in negotiations of this nature. Their partnership with the Dangote Refinery gives them leverage to negotiate from a position of strength.”
Adeoye highlighted that while the Independent Petroleum Marketers Association of Nigeria (IPMAN) and other marketers lack significant influence over prices, the Dangote Refinery prioritizes profitability.
According to him, this makes the NNPC’s negotiations vital, as they are legally required by the Petroleum Industry Act to ensure fuel availability across the country and prevent long queues at gas stations.
Adeoye said, “It is only NNPC that could have gone into that type of negotiation because NNPC is coming to the table from a position of strength because they have a partnership with the Dangote Refinery, and they have other businesses they are supplying crude to, so they can come and say, ‘Look, this has to be this way.’
“The IPMAN and the other marketers cannot do that because Dangote is a profit-making organization; it is not a charity organization. So, the only thing that is important to the Dangote Refinery is to make a profit, which is the same thing that is important to any business.
“So, the NNPC went into these negotiations because it also understands that it is the last resort. In terms of fuel distribution in the country, NNPC is mandated by the Petroleum Industry Act to make sure that there are no queues in the country. So, even if they don’t want to do it, the law mandates NNPC as the supplier, the last resort, to make sure that there is petroleum product across Nigeria.
“That negotiation is such that NNPC took all the calculations in and said, ‘This is a fair pricing that we know we can withstand.’
“Because what NNPC was paying out, which you might call a subsidy or under-recovery, NNPC was paying the difference on behalf of the government, which is under the directive of the president, who has also said he wants to see this situation totally resolved.
“That was why he directed the NNPC to make sure that crude oil to the Dangote Refinery is sold in Naira, because NNPC produces the crude in dollars, and it has to be sold to the Dangote Refinery in Naira, which is good faith.” he added
Ukraine has implemented restrictions on Telegram for government, military, and security personnel, citing national security threats associated with the app, founded by Russian-born Pavel Durov.
The National Security and Defence Council announced in a statement on it’s Facebook page that these limitations will affect all government agencies, military units, and critical infrastructure facilities.
The council emphasized that this measure is essential for protecting national security.
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It reads, “The National Security and Defence Council decided to restrict the use of Telegram in government agencies, military formations and critical infrastructure facilities. It is a “matter of national security.”
More to follow………….
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