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CSO expresses concern over N250b for fuel subsidy, says it is reason FG went into borrowing

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CSO expresses concern over N250b for fuel subsidy, says it is reason FG went into borrowing

 

Civil Society Organisations in Nigeria operating under the aegis of “Civil Society Coalition for Economic Development (CED) has decried the monthly payment of N250 billion for fuel subsidy.
They further identified the subsidy regime as a major challenge that was forcing the Federal government into external borrowings, while expressing optimism that the end of fuel subsidy would recoup funds into the national treasury well enough for developments.
The coalition expressed the concern that if nothing was done by the Federal government of Nigeria to end the regime, it  would further cause economic catastrophy.
In a 7-point communique after a conference of the Coalition which was held simultaneously in Lagos and Abuja, a copy of which was made available to the Guardian on Friday, the Coalition urged the Federal government to be committed to the planned ending of the fuel subsidy regime, adding that it was the right step towards recovering the nation’s economy.
The Coalition which comprised of 82 Civil Society Coalitions insisted that Nigeria’s economy is being about one of the most volatile in the world, recalling that there was a time a barrel of crude oil was sold for $150, but for the past six years, it has reduced to $60, a situation the group lamented, was unsustainable.
The conference, titled: “Fuel Subsidy Removal in Nigeria”, pointed out, would recycle the economy on the part of productivity and growth, if the amount being paid as cost of fuel subsidies were channelled into provision of infrastructure and other social sectors of the economy.
The communique which was signed by the convener, Com. Yusuf Dan Maitama and the Secretary, Com. Badaru Ayewoh further recommended that fuel subsidy regime should be stopped effective from January, 2022.
Part of the communique reads:  “That the resource persons who are world class researchers in the oil and gas industry extrapolated issues bordering on Nigeria’s oil and gas industry, and identified Nigeria’s major economic challenges as that of active fuel subsidy regime.
“In the group discussions, participants were unanimous that Nigeria was the only country in the world that sustained fuel subsidy regime for the past 20 years.
“The fuel subsidy regime was a capitalist and elitist policy that services only the top-heavy, hence, successive governments found it difficult to implement their economic policies.
“It was pointed out that the Federal government of Nigeria spends N250 billion on fuel subsidy every month. The development, discussants averred was largely responsible for national debts as revenue coming into the Consolidated Revenue Fund (CRF) account are used to settle the fuel subsidy.
The group pleaded with the organised labour not to embark on strike on account of ending subsidies, while they asked the Federal government to forward a budget for N5000 grants to be disbursed to citizens to cushion the effect of fuel subsidy removal in 2022.
“That the Federal Government of Nigeria should end fuel subsidy regime effect from 1st January, 2022 in order the save the sum of N250 billion monthly as the economy of Nigeria has become very fragile given the financial burden orchestrated by the subsidy regime.
“That Nigeria is a monolithic economy  as such, revenue earnings must be jealously guarded and which should be channeled into road construction, power, education, health and development of its youth.
“That the organised labour should be considerate and not to embark on strike action in the circumstance that the Federal government has ended fuel subsidy regime, given the reversal of huge resources back into the Federal government coffers.
“That the Federal government and all stakeholders in the oil and gas industry should strictly enforce the provisions of Petroleum Industry Act (PIA), which came into effect after it was signed into law by President Muhammadu Buhari.
“That the Federal government, private and public sectors should embark on sensitisation of Nigerians on the need for immediate removal of fuel subsidy in order to save the nation from further financial hemorrhage.
“The federal government of Nigeria should forward the budgetary provision of N5000 grant to citizens to cushion the effect of fuel subsidy removal to the two arms of the National Assembly for legislative debate before the passage of 2022 budget.
“The Civil Society Coalition commends the Group Managing Director of Nigeria National Petroleum Corporation (NNPC) Limited for his commitment to the stability of oil and gas industry in Nigeria

Politics

Gaetz Withdraws From Trumps Cabinet Nomination 

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Following his observations that ‘the momentum was strong’ Matt Gaetz whom 47th POTUS elect, Donald Trump nominated for Attorney General has withdrawn.

Biztellers reports that this follows his meeting with Senate and the feedback, which included two women, represented by their attorneys, who accused him of having paid for sex.

Consequently, Gaetz placed on record his full commitment to seeing “that Donald J. Trump is the most successful President in history.”

His withdrawal according his statement on micro-blogging site, X, was based on his conviction that “There is no time to waste on a needlessly protracted Washington scuffle”.

ALSO READ: Trump Taps 27-Year-Old Karoline Leavitt As New White House Spokesperson

In is view, “Trump’s DOJ must be in place and ready on Day 1”.

Gaetz wrote, “I had excellent meetings with Senators yesterday. I appreciate their thoughtful feedback – and the incredible support of so many. While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition. There is no time to waste on a needlessly protracted Washington scuffle, thus I’ll be withdrawing my name from consideration to serve as Attorney General. Trump’s DOJ must be in place and ready on Day 1.

“I remain fully committed to see that Donald J. Trump is the most successful President in history. I will forever be honored that President Trump nominated me to lead the Department of Justice and I’m certain he will Save America.”

His backers have promptly encouraged to take his seat in the House of Representatives, having been elected to the house under the flag of the Republicans to represent Florida.

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Adeleke Represents SW On Ad Hoc Committee on Nat’l Electrification Plan

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The Executive Governors from Nigeria’s South West have unanimously nominated Senator Ademola Adeleke as the chairman of the zone on the National Economic Council (NEC).

Adeleke is the Executive Governor of Osun State, southwest, Nigeria.

This, according to the Spokesperson to Governor Adeleke, Olawale Rasheed, transpired on Thursday, at a meeting of the NEC.

ALSO READ: Adeleke Flaunts Local Content Records, Industrialisation Progress

He noted that the meeting reviewed the state of Nigeria’s electricity sector and resolved to engage subnational structures to address current challenges in the sector.

“The meeting particularly sought to build on the devolution of the electricity sector and its movement into the concurrent legislative list which empowers state governments to regulate the sector in their respective areas,” he stated.

Consequently, the NEC, therefore set up an ad hoc committee to review actions in the sector by state governments and explore ways to ramp up activities through coordination, Rasheed highlighted.

The full list of members of NEC’s Ad-hoc Committee on National Electrification:

  1. Governor of Cross Rivers State, Bassey Out – Chairman, South-South
  2. Governor of Katsina State, Mallam Dikko Umaru Radda – Chairman, North-West
  3. Governor of Gombe State, Muhammadu Inuwa Yahaya – Chairman, North-East
  4. Governor of Osun State, Senator Ademola Adeleke – Chairman, South-West
  5. Governor of Imo State, Senator Hope Uzodinma – Chairman, South-East
  6. Governor of Plateau State, Barr. Caleb Mutfwang – Chairman, North-Central
  7. Hon. Minister of Finance, Wale Edun
  8. Hon. Minister of Budget and National Planning, Atiku Bagudu
  9. Special Adviser, NEC and Climate Change, Rukaiya El-Rufai
  10. Special Adviser, Power Minister, Hon. Bolaji Tunji
  11. MD/CEO Rural Electrification Agency, Abba Aliyu
  12. MD/CEO Niger Delta Power Holding Company, Jennifer Adighije
  13. Chairman, Nigeria Governors Forum, AbdulRahman AbdulRazak
  14. NEC Secretariat
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ACF Pledges Support For Northern Presidential Candidates Ahead Of 2027 Elections

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The Arewa Consultative Forum (ACF) has announced its decision to back Northern candidates in the 2027 general elections, citing the urgent need to address the worsening socio-economic and security challenges facing the region.

In a communique issued after its National Executive Council meeting in Kaduna on Wednesday, the forum expressed deep concern over the economic state of Northern Nigeria under President Bola Ahmed Tinubu’s administration, attributing the region’s struggles to flawed governance and poor policy decisions.

READ MORE: JUST IN: FG Dissolves Nnamdi Azikiwe University Governing Council, Removes VC

The ACF criticized the Federal Government’s economic policies, describing them as detrimental to the livelihoods of Northern citizens.

According to the communique, signed by the forum’s National Publicity Secretary, Professor Tukur Muhammad-Baba, the policies have compounded the already dire economic conditions in the region.

The statement reads, “Arewa people remain at a great disadvantage, being already worse off economically compared to other parts of Nigeria. While economic reforms are indeed desirable, they should not impoverish the same people they are meant to serve. Policies must have a human face.”

The forum noted that the North faces chronic food insecurity, limited educational and vocational opportunities for youth, and a heavy reliance on small-scale economic activities.

“Livelihoods are currently dependent on micro activities. The region faces acute and chronic food insecurity; its youths lack education and skills training. Daunting as these may be, they can be reversed. The time to think big is now,” the communique emphasized.

The ACF also addressed the pervasive insecurity in the North, warning that the situation has begun to erode public confidence in the government.

“Security is an irreducible minimum of human existence. In this regard, insecurity in its various manifestations remains the most worrisome challenge of Arewa people, that has even started to corrosively undermine the authority of government,” the forum stated.

It condemned the government’s response to the crisis, arguing that the Federal Government has failed to meet its primary duty of safeguarding lives and property.

“That those whose responsibility it is to provide security will be saying they are doing their best is unacceptable,” the communique said. “The minimum duty of government is to safeguard life and property, and doing anything less is a failure.”

The ACF faulted what it described as the “flawed leadership selection process” under the Tinubu administration, claiming it has elevated individuals without the requisite competence or experience to key positions.

It urged the Federal Government to “review, reassess, reevaluate, and re-order the direction of its economic policies with a view to giving it the needed human face.”

Looking ahead to the next general elections, the ACF pledged its support for Northern politicians who demonstrate a clear commitment to addressing the region’s challenges and fostering national development.

“Notwithstanding the parlous state of Arewa’s glaring economic conditions, the policies of the current Federal Government have continued to make matters much worse,” the communique stated.

 

 

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