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Senate Launch Investigation Into NNPCL Fuel Subsidy Regime

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On Tuesday, the Senate established an ad hoc committee to examine the fuel subsidy system of the Nigerian National Petroleum Company Limited (NNPCL).

 

The decision was made after Patrick Chinwuba (APC-Imo) presented a motion during the plenary session on Tuesday.

 

The motion, titled “Need to Investigate the Controversial Huge Expenditure on Premium Motor Spirit (PMS) under the Subsidy/Under Recovery Regime by the Nigerian National Petroleum Company Limited (NNPCL),” prompted the formation of the committee.

 

During the motion presentation, Mr. Chinwuba highlighted that the federal government had announced a fuel pump price increase from N87 to a range between N135 and N145 per litre on May 11, 2016.

 

He said “This was in its fight against corruption and in order to plug the presumed highly proliferated leakages, wastages and slippages surrounding the fuel subsidy as well as in an attempt to end the controversial subsidy regime.

 

“At the inauguration of the present government on May 29, the president took a bold step to announce the total removal of fuel subsidy, noting that the scheme has increasingly favoured the rich more than the poor,”

 

He said the government’s interest in exiting the subsidy regime was in line with the policy of reducing the cost of governance and the desire to eliminate corrupt practices surrounding the scheme.

 

“The NNPCL, within the period of subsidy exit attempt, substituted the term subsidy with under recovery without any recourse to the National Assembly or supervision by any other arm of the government.

 

“While NNPCL within ten years, 2006 and 2015, claimed about N170 billion as under-recovery, the same NNPCL within 13 months, January 2018 to January 2019 claimed a whopping sum of N843.121 billion as under-recovery. He added.

 

Concerns were raised by the lawmaker regarding the uninvestigated and alarming costs of under-recovery and direct deductions by NNPCL without proper oversight which has resulted in a misunderstanding of the government’s well-intentioned motive behind subsidy removal.

 

Supporting the motion, Jibrin Isa (APC-Kogi) emphasized the importance of utilizing the savings generated from subsidy removal.

 

He said “This is where our oversight function comes to play. These monies that are going to be recovered from the discontinuance of fuel subsidy should be used to revive some of the ailing companies in particular; the Ajaokuta Steel Complex, Itakpe Iron Ore Mining Company in Kogi and Oshogbo Iron and Steel Rolling Mills in Osun.

 

“Those projects can create a lot of employment opportunities, create a lot of revenue for the government,”

 

Also, Osita Izunaso (APC-Imo) said, “We need to look at the palliatives to cushion the effects of subsidy removal.

 

“Much as we are going to make a lot of gains from subsidy removal, we have to look at the suffering of our people.”

 

Mohammed Monguno (APC-Borno) said the previous government never had the political will to withdraw the subsidy.

 

He said “We thank this government for taking the bull by the horn and gathering all the political will to withdraw the subsidy in the interest of Nigerians.

 

“We are now saving a lot of money, which we can use to deploy for revamping our infrastructure.

 

“In view of the hardship unleashed on Nigerians as a result of the subsidy, there is the need for government to take responsibility in cushioning the effect of the removal,” he added.

 

Following a voice vote conducted by Senate President Godswill Akpabio, all senators unanimously adopted the resolutions put forward in the motion.

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Christmas: Shettima Assures Of FG’s Commitment To Citizens’ Welfare

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Nigeria’s Vice President, Kashim Shettima has assured Nigerians of the federal government’s dedication to national security, economic transformation, and welfare of the citizens.

This was detailed in a Christmas message on Wednesday afternoon in Abuja under the signature of the Senior Special Assistant to The President on Media & Communications (Office of The Vice President), Stanley Nkwocha.

According to the Vice President, the administration of President Bola Ahmed Tinubu remains unwavering in its focus on these critical areas, as the country looks forward to the dawn of a new year.

ALSO READ: Tinubu Sends Hearty Christmas Greetings To Christians Worldwide

He said, “In these times of economic transformation, I want to assure you that the President Bola Ahmed Tinubu administration remains steadfast in its commitment to improving the lives of all Nigerians.”

Vice President Shettima particularly urged the citizens to imbibe the virtues of national unity during the yuletide season.

“Nigeria’s diversity remains our greatest strength. Let us avail ourselves of the time provided by the holiday season to strengthen the bonds of brotherhood that unite us across all faiths and regions,” he said.

Senator Shettima assured Nigerians of the continued vigilance of the nation’s security forces, noting that “our brave security personnel will continue to work round the clock during this festive period to keep us safe.”

He said enhanced security measures have been put in place to protect the citizens during the holiday period.

“The relevant agencies have been mobilized to ensure your safety and comfort on all major routes,” he stated, urging travelers to remain vigilant.

VP Shettima expressed optimism about the nation’s trajectory in the coming year, saying, “I am filled with hope and optimism about Nigeria’s future. Together, we will build a more prosperous and united nation.

“To our young people, you are the backbone of our nation. The Renewed Hope administration is implementing various initiatives to create opportunities for you to thrive and contribute to Nigeria’s development,” he added.

 

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Yuletide: Adeleke Rejoices With Christians

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Ademola Adeleke Becomes Sixth Executive Governor of Osun State

 

Osun State Governor, Senator Ademola Adeleke has felicitated Christians in Osun State and beyond on the occasion of the 2024 Christmas celebration, urging them to follow Jesus Christ’s example of compassion and tolerance.

Biztellers reports that Gov Adeleke described the birth of Jesus Christ as a defining moment for mankind, in a statement in Osogbo on Tuesday.

He described the festive season as a solemn reminder of the power of love and how it can save humanity.

ALSO READ: Archbishop Martins Champions Clamour For Better Life For Nigerians

While recognising unity and togetherness as an important message that Jesus Christ’s life resonates, Gov Adeleke charged Osun people, particularly Christians, to draw from the spiritual import of the celebration by sharing love and fostering harmony in communities.

In his words, “I extend my warm wishes to Christian faithful in Osun state and beyond as we mark this year’s Christmas. The birth of Jesus Christ is a manifestation of the power of love and remind us of the essence of compassion,” the Governor noted in his message.

“In the mood of celebration, I urge us to take a moment to reflect on the message of renewal that the birth of Jesus Christ signifies, promoting activities that will unite not divide, build not destroy, and bring peace not conflict.

“It is also my sincere appeal that we extend hands of kindness to the needy and the weak in the society, spreading love and generosity beyond borders. That is the essence of Christmas and it is most essential that at a time like this, no one is left to their fate.”

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Archbishop Martins Champions Clamour For Better Life For Nigerians

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Archbishop Alfred Adewale Martins, of the Catholic Archdiocese of Lagos, has enjoined all Nigerian leaders to be more sensitive to the yearnings of the people for a better life.

This was contained in a 2024 Christmas Message to Nigerians issued in Lagos under the signature of the Director of Social Communications, Very Rev. Fr. Anthony Godonu.

According to the Archbishop there is an urgent need for a better enabling environment to allow businesses thrive in a bid to reduce the high rate of unemployment and the grinding poverty in the land.

He urged leaders to prioritise the welfare of citizens over personal needs in addressing the widespread hunger, poverty, joblessness, and insecurity ravaging the nation.

ALSO READ: Tinubu Sends Hearty Christmas Greetings To Christians Worldwide

In his words, “Even in the face of policies that are deemed to have positive results in the long-term, such as the removal of fuel subsidies, floating of the naira and the new tax reforms initiative, governments must ensure that the immediate welfare of people is not neglected but factored into the planning and execution of such policies. This is necessary, if the people for whom the policies are being made are not to die before the positive results begin to manifest.

“At the same time, government spending must be prudent and compassionate. In addition, it is necessary to pay more attention to the agricultural sector so that food security can be ensured for overall benefit.”

The Prelate described as very sad and depressing the recent loss of several lives of innocent Nigerians in Ibadan, Abuja, and Anambra in their quest to access food palliatives owing to pervading hunger across the country.

He considered it worrisome that many Nigerians now find it difficult to purchase necessities of life, especially during this festive season that should be a period of merriment, sharing of love, food, and other essentials, which are the hallmarks of the Christmas season.

To forestall a reoccurrence of such ugly incidents, the prelate urged governments, at both federal and state levels, as well as the legislative assemblies, to identify and quickly fix the loopholes in the polity that are responsible for the massive poverty and hardship which Nigerians are facing.

He advocated the appraisal of the nation’s existing laws and enactment and enforcement of only proactive policies that would open the business environment, attract investors, and create more jobs so that the citizens can afford their basic needs; rather than depend on palliatives that offer only temporary relief.

The prelate urged substantial investments in the agricultural sector of the economy to ensure the availability of basic foodstuffs; thereby reducing the high cost of essential food items like rice, beans, onions and grains.

“If citizens have food in their homes, people will not endanger their lives while scrambling for palliatives in the way it happened,” he noted with sadness.

While praying for the souls of those who died in the recent stampedes in parts of the country, he also commiserated with those who lost their loved ones, praying that Jesus, the Prince of Peace would bring solace to the afflicted, comfort to the grieving, and hope to the despairing.

“This special season reminds us of the profound love of God, who sent His only Son to redeem humanity. May the light of Christ illuminate our lives, dispel darkness, and fill our hearts with love, compassion, and kindness. As we gather with family and friends, let us not forget those who are less fortunate, the vulnerable and the marginalised. May our celebration be a catalyst for acts of charity, generosity, and solidarity,” he stated.

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