NEWS
Peterside Commends #EndBadGovernance2024 Protesters, Urges FG To Release, Compensate #EndSARS Protesters
Former chairman of the StanbicIBTC Bank, Atedo Peterside has penned strong emotional letters to #EndBadGovernance2024 protesters, urging them to retreat, without surrendering.
The globally respected investment banker took to his verified handle on micro-blogging site, X to commend the protesters and counsel to rethink to review their actions, to avert miscreants jumping on the boat to give them a bad name.
He counselled the Nigerian government to meet the protesters halfway by granting immediate release and compensation to #EndSARS protesters.
Biztellers reports that some people who were apprehended over the #EndSARS peaceful protests of 2020 were still languishing in detention.
ALSO READ: Adeleke Lauds Peaceful #EndBadGovernance2024 Protests, Assures On Good Governance
His statement on Monday reads, “Dear Protesters,
“If I was seeking popularity, I would shout “No retreat, no Surrender” – but I won’t. I agree with you that FG must immediately release any/ALL #Endsars Peaceful Protesters if they are still being detained and they MUST also be compensated financially.
“If FG is seeking equity, then they must come with clean hands.
“But please the persons destroying pavements, traffic lights and other physical infrastructure in parts of the country are not with you.
“Indeed, they could be your enemies – same applies to those looting. Please distance yourselves from hooligans as much as you can.
“I still plead that you call off the Protests as soon as possible, with a view to regrouping if FG does not get serious about releasing detainees and/or reducing the Cost of Governance etc.
“#EndBadGovernanceInNigeria”
Similarly, Peterside wrote on Sunday, “I doff my hat to those of you who have been protesting peacefully since 01 August. You have shaken Nigeria to the core and dispelled the falsehood that many of our youths are not politically active and/or do not care to demand good governance.
“I beg you in the name of God to please call off the protest now.
“In the aftermath of #EndSars (see my lengthy @AriseTV interview from 2020 attached) I explained that any mass street action that goes on for more than a few days will be infiltrated and overtaken by hoodlums. Please end the protests today (Sunday).
“Poor Nigerians cannot endure protests for more than a few days. You have made your point. Your massive turnout has frightened many people. FG is not deaf. The President has spoken this morning.
“Perhaps even the Legislators have heard you also. If they collectively fail to significantly reduce the cost of governance, stop wasteful expenditures and tighten their own belts or lead by example, please then re-strategise, regroup and call them to order again.
“God bless you all.”
NEWS
Adeleke Approves Adeyemi’s Appointment As Chairman, Governing Council, Osun State College of Education
Osun State Governor, Senator Ademola Adeleke has approved the appointment of Akinyele Sarafa Adeyemi, as the new Chairman of the Governing Council of the Osun State College of Education, Ila Orangun.
This was detailed in a statement in Osogbo on Friday by Spokesperson to Governor Adeleke, Olawale Rasheed.
ALSO READ: Adeleke Sues For Constitutionality Over PDP’s Chairmanship Crisis
According to Rasheed, Adeyemi replaces Dr Peter Babalola who resigned his appointment after a controversial tenure at the College of Education.
He stated that “Adeyemi who holds a first and Masters degrees in Education from the University of Ibadan is a retired principal of the Federal Girls College, Ipetumodu.”
It was gathered that the swearing in ceremony for the new Council Chairman holds by 10am on Monday at the EXCO lounge.
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.
Read Also: NLC Accuses Tinubu Of Sabotaging Minimum Wage With Fuel Hike
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
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Temp Mail
August 7, 2024 at 2:30 am
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