‘Removal of fuel subsidy will free economy from bondage’; Nigeria beats Cote d’Ivoire | 5 Things That Should Matter Today

  • Buhari: Removal of fuel subsidy increasingly untenable
  • Lagos Task Force to crush 250 power bikes, despatch motorcycles for violating traffic rules
  • Nigeria beats Cote d’Ivoire 3-1, qualifies for Africa U-17 Nations Cup
  • Adamu says Lawan participated in APC senatorial primary for Yobe north
  • Removal of fuel subsidy will free economy from bondage, says NEITI

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

Buhari: Removal of fuel subsidy increasingly untenable

President Muhammadu Buhari has told the International Monetary Fund (IMF), World Bank and other leading economists that fuel subsidy will not be removed. The President said this in an interview he granted Bloomberg.

“Most western countries are today implementing fuel subsidies. What is good for the goose is good for the gander. What our western allies are learning the hard way is what looks good on paper and the human consequences are two different things. My government set in motion plans to remove the subsidy late last year. After further consultation with stakeholders, and as events unfolded this year, such a move became increasingly untenable,” President Buhari said in the written responses to Bloomberg questions.

He said: “As we step up domestic production – both in fuel, enabled by Petroleum Industry Act (PIA) and food (agricultural policies) – the inflationary threat shall diminish, and we can move toward unification.

“Boosting internal production for refined products shall also help. Capacity is due to step up markedly later this year and next, as private players and modular refineries (Dangote Refinery, BUA Group Refinery, Waltersmith Refinery) come on board.”

Lagos Task Force to crush 250 power bikes, despatch motorcycles for violating traffic rules

To enforce the ban on activities of commercial motorcycles in Lagos, the government has said it will crush about 250 power and despatch motorcycles recently seized by the task force.

Chairman of the State Environmental Task Force and Special Offences, Chief Superintendent of Police (CSP), Shola Jejeloye, said the power bikes and despatch motorcycles, whose capacity are above the required standard were confiscated for either driving against traffic (one-way), conveying of passengers on despatch bikes and riding on the Bus Rapid Transit (BRT) corridor of the state.

According to him, though the ban focuses on commercial motorcycles popularly known as Okada, the State Transport Sector reform laws prohibit any motorcycle of any capacity from riding one way.

“Riding a power bike doesn’t make you immune to traffic laws of the state, especially when it has to do with riding against traffic on one-way, which is highly dangerous to road users and even pedestrians. Any motorbikes violating the state traffic laws will be met with the same level of punishment as Okada of lower capacity,” Jejeloye stated.

Nigeria beats Cote d’Ivoire 3-1, qualifies for Africa U-17 Nations Cup

Emmanuel Michael and Abubakar Idris Abubakar yesterday, at the Cape Coast Stadium, Ghana, gave Nigeria’s U-17 national team a 3-1 victory over Cote d’Ivoire.

It was the first semifinal of the WAFU B U-17 Championship, which offers the two finalists tickets to the 2023 Africa U-17 Nations Cup.

Nigeria will meet the winner of the second semifinal between Ghana and Burkina Faso in Friday’s final game of the competition.

Adamu says Lawan participated in APC senatorial primary for Yobe north

Abdullahi Adamu, national chairman of the All Progressives Congress (APC), says Ahmad Lawan, senate president, contested the party’s primary for Yobe north senatorial district.

Asked why the APC replaced Bashir Machina with Lawan in the senatorial candidates’ list, Adamu said “If you face me with positives, I have time for all of that. I will stand here and answer all of your questions. I cannot respond to every speculation particularly when they are negative, especially when they are from mischief-makers.”

Per participation in the primaries, Adamu said “Go and find out from the person who is responsible for organising the primary. I have done my bit. I do know in my honour that he (Ahmed Lawan) did participate within the timeline.”

Lawan had, in May, contested for the APC presidential ticket, but lost to Bola Tinubu, the standard-bearer of the party.

Removal of fuel subsidy will free economy from bondage, says NEITI

Removal of fuel subsidy will free economy from bondage, says NEITI

Orji-Ogbonnaya Orji, executive secretary, NEITI, at the stakeholders’ National Extractive Dialogue (NED) 2022 in Abuja Tuesday, says the removal of fuel subsidies will free the country’s economy from bondage.

Orji said the removal of fuel subsidy needed to be considered so as to reduce the economic bondage faced, benefit the poor majority, and possibly hurt the few affluent who were currently rich in the subsidy transactions.

He also disclosed that the agency would soon release a research policy advisory on the cost of fuel subsidy to the country, adding that the publication would outline facts and figures to reinforce NEITI’s position on the subsidy removal.

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