Nigeria Saved N1tn After Fuel Subsidy Removal – Tinubu; Labour Unions Set to Proceed with Nationwide Strike | 5 Things That Should Matter Today

  • Nigeria Saved N1tn After Fuel Subsidy Removal – Tinubu
  • Labour Unions Set to Proceed with Nationwide Strike
  • Tinubu to Nigerians: I Understand Your Pain Since Subsidy Removal — But There’s No Other Way
  • Lagos State Slashes State-Owned Bus Fares by 50%
  • Tinubu Appoints Chief Ajuri Ngelale as Special Adviser on Media and Publicity

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss

Nigeria Saved N1tn After Fuel Subsidy Removal – Tinubu

In a nationwide broadcast addressing the current economic challenges in Nigeria, President Bola Tinubu proudly announced that the Federal Government has saved a staggering N1tn in just two months since the removal of the petrol subsidy. He emphasized that these significant savings, which would have otherwise fallen into the hands of “smugglers and fraudsters,” will now be directed towards intervention programs aimed at benefiting families across the nation.

With conviction, President Tinubu urged Nigerians to see beyond the present temporary pains and focus on the broader, positive outcomes. He empathized with the hardship caused by the delay in palliative measures during the past 62 days but requested the public’s faith in the government’s ability to deliver and its genuine concern for their well-being.

He reassured the citizens that all the administration’s well-intentioned plans are already in progress, and he firmly believes in their effectiveness. The funds saved from the removal of the subsidy will now be utilized more directly and beneficially for the welfare of the people and their families.

President Tinubu also vowed to steer the nation out of the ongoing economic turbulence through the measures already implemented by his administration. With determination and dedication, he aims to create a more stable and prosperous future for Nigeria.

In conclusion, President Tinubu’s announcement reflects a strategic move by the Nigerian government to redirect significant funds previously spent on fuel subsidies towards meaningful intervention programs for families. As the nation looks ahead to better economic prospects, the president’s promises offer hope and reassurance to the citizens during these challenging times.

Labour Unions Set to Proceed with Nationwide Strike

The Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) have reaffirmed their commitment to proceed with the nationwide strike scheduled to commence on Wednesday, in protest against the removal of petroleum subsidy. Following a meeting with government representatives at the presidential villa on Monday, the unions expressed doubt about President Bola Tinubu’s ability to effectively control inflation and petrol prices due to the unification of the exchange rate.

Joe Ajaero, the president of the NLC, asserted that the plan for workers to engage in a peaceful protest starting from Wednesday remains unchanged. He dismissed concerns about the protest being hijacked by hoodlums, stating that such incidents have never occurred in the history of workers’ protests. However, Ajaero emphasized that ensuring the safety of the demonstrators is the responsibility of the security agencies.

Regarding President Tinubu’s plan to intervene in the exchange rate to address inflation and the high cost of petrol, Ajaero expressed doubts about its effectiveness. Given Nigeria’s heavy reliance on imported energy and the absence of comparative advantages, he questioned how significant control could be exerted. Ajaero also highlighted the challenges faced by the Nigerian Electricity Regulatory Commission (NERC) in resisting tariff increases and pointed out the notable increase in the price of corn in rural areas.

The meeting on Monday brought together representatives from the NLC, TUC, and other delegates from the labour unions. On the government side, attendees included Femi Gbajabiamila, the chief of staff to the president, and Mele Kyari, the group chief executive officer of Nigerian National Petroleum Company Limited (NNPCL), among others.

The meeting concluded with an adjournment until 12 noon on Tuesday, indicating ongoing discussions between the labour unions and government representatives to find common ground and avert the planned strike. However, as the strike’s commencement date approaches, tensions remain high, and the impact of the protest on the nation’s economic landscape is closely monitored.

Tinubu to Nigerians: I Understand Your Pain Since Subsidy Removal — But There’s No Other Way 

President Bola Tinubu, in a nationwide broadcast on Monday, acknowledged the hardships Nigerians have endured following the removal of the petrol subsidy. The decision, announced in his inaugural speech on May 29, led to an increase in petrol pump prices and a rise in the overall cost of living in the country.

Addressing the nation, Tinubu reiterated that there was no other viable option but to pull the petrol subsidy in order to salvage the economy. He acknowledged that the country’s economy is currently going through a tough period due to the subsidy removal, resulting in increased costs for fuel, food, and other essential items.

The Nigeria Labour Congress (NLC) criticized some of the administration’s policies as “anti-poor” and “insensitive,” prompting them to issue a seven-day ultimatum to the federal government for policy reversals.

In response to the situation, President Tinubu empathized with the challenges faced by the citizens and businesses, expressing his desire to find alternative solutions if they were available. He stated, “I wish there were other ways. But there is not. If there were, I would have taken that route as I came here to help, not hurt the people and nation that I love.”

Despite the difficult circumstances, Tinubu assured the public of his commitment to reducing the burden imposed by the current economic situation, especially on businesses, the working class, and the most vulnerable in society.

As the nation grapples with the effects of the subsidy removal, President Tinubu’s acknowledgement of the hardships faced by Nigerians reflects the government’s awareness of the people’s struggles. His promise to alleviate the economic burden demonstrates a willingness to seek solutions and provide support during these challenging times.

Lagos State Slashes State-Owned Bus Fares by 50% 

In response to the recent removal of fuel subsidy, Governor Babajide Sanwo-Olu of Lagos State has taken action to alleviate the impact on citizens by slashing the fares of state-owned buses by 50%. The governor made this announcement on Monday, conveying the measure through a video shared on Twitter by his media aide, Jubril Gawat.

The fare reduction, set to take effect on Wednesday, aims to ease the financial burden experienced by many Nigerians due to the sudden three-fold increase in petrol prices across the country, following President Bola Tinubu’s announcement on May 29.

Governor Sanwo-Olu stated, “Immediately from Wednesday, all public transportation that are being controlled by LAMATA … will be plying all the routes of Lagos at 50 per cent discount.” He further explained that commuters would start enjoying a 50% rebate on the current transport fare charged on these buses from the specified date.

To ensure a seamless implementation of the fare reduction, the governor clarified that it couldn’t take effect on Tuesday. There is a need for necessary configurations and validations that will be completed before Wednesday, as communicated to the relevant stakeholders.

Additionally, Mr. Sanwo-Olu also announced a 25% reduction in fares for Yellow buses, which will be officially announced by their governing body. Informal buses will also receive a 25% fare deduction, as the governor has reached an agreement with their representatives during ongoing discussions.

The governor’s commitment to easing the burden on workers impacted by the subsidy removal extends to the expansion of the fleet of staff buses in the state public service. This measure aims to provide alternative transportation options and support the workforce in coping with the challenging economic situation.

As the reductions are set to come into effect, commuters in Lagos anticipate relief from the strain caused by rising transportation costs.

Tinubu Appoints Chief Ajuri Ngelale as Special Adviser on Media and Publicity

President Bola Ahmed Tinubu has officially approved the appointment of Chief Ajuri Ngelale as the Special Adviser to the President on Media and Publicity. The announcement, delivered in a concise statement by Willie Bassey, the Director of Information at the Office of the Secretary to the Government of the Federation, specifies that the appointment will take effect on July 31, 2023, and will continue until the end of the current administration, unless otherwise determined by the President.

In his new role, Chief Ajuri Ngelale is entrusted with the important task of handling media and publicity affairs on behalf of the President. President Tinubu expressed confidence in Ngelale’s abilities and urged him to leverage his wealth of experience to excel in the assigned responsibilities.

As the appointment comes into effect, Nigerians and the media await the strategic insights and communications expertise that Chief Ajuri Ngelale will bring to the presidential team, further shaping the public narrative during this administration.

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