News
Tinubu’s 50% transport reduction scheme may begin Tuesday
The proposed 50 per cent interstate transport fare price slash by the Federal Government, initially planned to commence on December 20, 2024, may now begin on December 24, The PUNCH reports.
The slash is targeted at cushioning high transport costs during the Yuletide.
Recall that the Federal Government through the Ministry of Transportation last Thursday announced that it had agreed with stakeholders in the road transport sector to support Nigerians who will be travelling during the Yuletide.
The government said it would pay 50 per cent of their transport fare of the travellers, as it commenced free rail transportation for citizens on December 20, 2024.
This gesture, according to the Director of Press and Public Relations, Federal Ministry of Transportation, Olujimi Oyetomi, was part of a broader effort of President Bola Tinubu to provide transportation palliatives for Nigerians celebrating the Christmas and New Year.
Oyeyemi said the agreement was signed between the Federal Government and key transport stakeholders, including; the National Union of Road Transport Workers, the Road Transport Employers Association of Nigeria, and the Association of Luxurious Bus Owners of Nigeria, among others.
The ministry’s publicist explained that in the arrangement, passengers departing from Abuja and Lagos (Oshodi) to various destinations across the country would pay only half the usual fare.
On Sunday, one of our correspondents gathered that the 50 per cent road price slash would have started on December 20, but did not due to some issues with documentation which are currently being resolved.
A senior official in the transportation ministry who spoke in confidence due to lack of authorisation to speak on the matter stated that while the rail was targeted at lifting 340,000 Nigerians during and after the Yuletide, information on the road transportation gesture remained sketchy.
“The minister will most likely unveil the scheme tomorrow (Monday) at the Eagles Square and detailed information on the development will be given accordingly.
“We were supposed to commence on the (December) 20th but for some imperfection. By God’s grace, it should commence on Tuesday. But the MoU and others have been adequately signed.”
When contacted, the Chief Executive Officer of God is Good Motors, Enahoro Ekhae, confirmed signing the MoU, but noted that the scheme had yet to start.
“Yes, we indeed signed an MoU but we are yet to start the implementation,” he said.
When asked about the reason for the delay he replied, “It is the government that can tell that. We as GIGM, will commence once we agree with the government to start.”
Meanwhile it was gathered from the Federal Ministry of Finance on Sunday that the initiative was delayed due to funding challenges.
The programme, which was expected to commence on December 20, had been stalled as transport unions await payments promised under the scheme.
Impeccable sources at the finance ministry told one of our correspondents that efforts to secure funds from the were ongoing, with stakeholders optimistic about a resolution in the coming days.
The initiative, which aims to provide subsidised transportation through partnerships with transport unions, was to commence at the Eagle Square in Abuja but failed to take off.
“We have signed the MoU, but the thing is that the minister is of the opinion that the transport unions ought to get their money before they start so that we can have accurate records,” a source at the finance ministry stated
“The thing is that the transportation minister has been going to the finance ministry to get the money, which includes that of the rail.”
While the rail component of the initiative continues because it is exclusively managed by the Federal Government, road transport remains stalled due to the absence of government-owned buses.
“The route involves transportation unions. The Federal Government does not have buses that it can put out to run the show. We want the transport unions to take ownership and run. Account for the money that is given to you because we have some monitoring instruments,” the source explained.
Despite efforts to secure funds, the process has been slow. “He (the minister) has been going to finance. He couldn’t get the money So, that’s why we couldn’t start.”
The plan includes a payment of 50 per cent of an agreed average fare to transport unions for each route, covering road trips from Abuja to state capitals, and from Oshodi in Lagos to other destinations.
“The government is supposed to pay the transport unions 50 per cent of the average that we already arrived at for each of the routes,” the source clarified.
However, no funds have been disbursed yet, leaving transport unions unable to mobilise. “All transport unions that we signed the MOU with will have to bring vehicles to Eagle Square. So nobody has been given money yet. And therefore, everybody has been asked to be on hold.”
The source expressed hope that the issue would be resolved swiftly. “I want to believe that as early as possible tomorrow (Monday) morning, the minister will be on the neck of the Minister of Finance. And the finance minister would have bought into it, because it’s a directive from the President. And they will see how that money can come out. And then, they will begin.”
Credit: PUNCH
News
Renovation: Tinubu, Shettima’s official quarters to gulp N6.36bn
The Federal Government has allocated a total of N6,364,181,224 billion for the renovation and rehabilitation of the residential quarters of President Bola Tinubu, Vice President Kashim Shettima, and some of their aides in the 2025 budget proposal.
Sunday PUNCH’s analysis of the proposed allocation, contained in the 2025 Appropriation Bill presented to the National Assembly, showed that the annual maintenance of the Presidential Villa would gulp N5.49bn.
According to the proposed budget, N765m will be used for the renovation of the Vice President’s quarters and guest house.
The renovation of the president’s quarters at the State House will cost N6.39m, while the renovation of security quarters, auditorium, gymnasium and presidential aides’ quarters will cost N49m.
In addition, the renovation of Prescott barracks at Maple State House officers’ mess building and signal office in Asokoro, Abuja will cost N51m.
Further analysis of the budget revealed that Tinubu and his vice are also expected to have N87m as honorarium and sitting allowances, while N127m was allocated for the procurement of SUVs.
Also, N3.66bn was budgeted for the purchase of State House operational vehicles and N1,09bn will be spent on replacement of SUV vehicles at the State House.
Under the budget of the State House Lagos Liaison Office, there is an allocation of N14.72m for the routine maintenance of State House Lagos facilities (Dodan Barracks, Vice President guest houses at Ikoyi, among others).
Another N140.10m was allocated for the completion of renovation and furnishing of the State House annex (Dodan Barracks), Lagos.
Meanwhile, the Federal Government is planning to spend N1.83bn on converting forfeited properties from the Economic and Financial Crimes Commission into State House quarters.
The plan to convert forfeited houses from the EFCC comes in the same month that the commission disclosed the recovery of an estate in the Lokogoma District of Abuja, measuring 150,500 square metres and containing 753 units of duplexes and other apartments.
The commission described this as its “single largest asset recovery” since its inception in 2003.
The estate rests on Plot 109 Cadastral Zone C09 of the district, and was forfeited in a ruling on Monday, December 2, 2024, by Justice Jude Onwuegbuzie.
(Punch)
News
SEE NAIRA Rates Against The USD, GBP, EURO Today December 23, 2024
WHEN we look at this month, USD was traded at ₦ at the beginning of this December on Monday, December 2, 2024. As at today with USD being traded at ₦1,655 we see a % for United States Dollar to Naira exchange rate for this month.
On this page, we are primarily focusing on the Black Market Dollar To Naira Exchange Rate Today, the USD to Naira currency pair are the most traded currency in the FX market.
Black Market Exchange Rates
Buying Rate
Selling Rate
Dollar to Naira 1655 1640
Pounds to Naira 2150 2000
Euro to Naira 1730 1700
Canadian Dollar to Naira 1146 1135
Rand to Naira 52 43
Dirham to Naira 0 0
Yuan to Naira 62 62
G.Cedi to Nair 70 50
CFA F. (XOF) To Naira 0.83 0.81
CFA F. (XAF) To Naira 0.74 0.74
READ ALSO: INSIDE LIFE: 26-Year-Old Lady Died In Bangladesh With No One To Claim Her Body, She Is A Nigerian From Enugu (SEE PHOTO)
Having full knowledge how much USD to NGN black market exchange rate today will give you a better opportunity to plan and make informed decisions.
Nairatoday.com
News
Passengers Stranded As Warri-Itakpe Train Derails In Delta Community
Passengers of a train plying the Warri-Itakpe route escaped death on Sunday as the train derailed at Okpara in the Ethiope East Local Government Area of Delta State.
It was gathered that the passengers were stranded following the incident that happened at about 10pm.
According to eyewitness accounts, some of the passengers got to their destinations on Monday morning.
“The incident happened at Okpara Station last night. They stole many people’s phones and other valuables when they slept at night,” a source said.
“It’s this morning that everybody began to find their way to their various destinations.”
The Nigerian Railway Corporation confirmed the incident in a statement by its spokesman, Yakub Mahmood on Monday.
Mahmood said the service will resume shortly, adding that a team of engineers is at the site of the incident to ensure the track is restored soon.
According to him, the train service will resume as scheduled on Monday afternoon.
The statement reads in part, “The management of the Nigerian Railway Corporation (NRC) hereby informs the general public, especially our valued passengers that ply the Warri-Itakpe route, that following the minor derailment yesterday at the Okpara station, the service will resume shortly as our team of engineers are at the site of the accident to ensure the track is restored anytime soon.
“However, Itakpe-Warri (Ujewu) train will resume as scheduled in the afternoon today.
“All inconveniences caused as a result of the minor derailment is highly regretted.”
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