News
Fear of hunger protesters, FG launches sale of 50kg rice at N40k
The Federal Government on Monday said it has started to distribute an additional 10 trucks of 50kg rice to each state to be sold at designated centres at N40,000
This is as the Federal Executive Council, FEC, has insisted that there is no need for the protest as most of the demands put forward by the organizers are being addressed.
Already, ahead of the August 1 national protest, President Bola Tinubu has said that he is protesting on behalf of the youth by addressing most of their grievances.
Briefing State House correspondents at the end of the Council meeting, the Minister of Information and National Orientation, Mohammed Idris, disclosed that 10 trucks of rice to each state was a measure put in place to address poverty and high cost of living.
The Minister said, “And the position of the FEC is that most of the demands that the protesters are making are actually being addressed by the federal government and therefore it is the view of the government that there is really no need for the protests again because most of those things that the protesters are putting forward are already actually been addressed or are being addressed by government and like we have said repeatedly, this is a listening government.
“The President has listened to be voices of all those who are planning this protest. And the message is that there is no need for it.
“Indeed, the President is already protesting on their behalf by doing those things that they want a government to do for example, the effort that government is making, in ensuring that food is being made available.
“The last Council meeting here at the briefing, we announced that a number of trucks 20 precisely had been given to the state governors for onward distribution to those who actually In need of them to poorest of the poor in society and those who are actually in need, but government did not stop there there is also rice that is being sold at about 50% of its cost, a bag of rice is being sold at N40,000 as we speak now.
“This rice have been taken to various centers across all the states of the federation, and is being sold at 40,000 Naira, centers have been created. So that those who need this rice can go there and buy this rice at 40,000 naira
“In the first instance, about 10 trucks have been made available to each of these states and indeed, this is just the beginning I know that some of the comments you hear is that it is never enough. Government has not pretended that this supplies are indeed enough. But these are necessary first steps that are being made and more of such interventions are being made in the interim.
“Of course, this is like I I said an interim measure because there is so much investment that is going into the agricultural sector. And the rainy season is here. We expect that the prices of food items will come down as investments are also being made not just for the traditional agricultural produce, but also for the irrigation activities in many of these states of the federation. So we expect that as we move forward, prizes of food items, commodities will of course, come down.
“These are part of of the measures and the President feels and the federal executive council believes that already some of the youth wont protest, some of the answers that they are looking for are already actually being provided. For example, only recently the federal government has begun the disbursement of the students loans. There’s a provision already for
over two million students.
“Only about 110,000 applications have thus far been received as at last week, of course, more are going to come. So there’s adequate provision for all those who are qualified, who can access these loans and who have fulfilled this condition.”
He said that the desire of the President is to ensure that no student, no young person that has gained admission into any of the nation’s tertiary institutions will be left out because his parents or his guardian is unable to pay for his fees.
“But beyond that, there is also the provision that is being made for these young people. We are aware of the effort that is being made to ensure that about three million of them are being put into employment through the MTT program.
“There is also for the general public the reduction that is envisaged by the time the CNG initiative of the federal government actually takes full course .
Already, some of these buses have been imported. Some of the conversion kits are already available. The conversion centers are already beginning to get active. The delays are largely because you don’t just go to the market and get these things off the shelves.
“First the procurement processes have to be followed. And then of course you have to place order for them and it is envisaged that as we make the transition from fossil fuel to renewables, there is going to be a reduction of over 60% in the cost that people put in transportation.
“If you have your car, it is envisaged that you’re going to spend about 60% less and that money that comes back to your pocket, but the emphasis at the beginning is going to be on commercial busses, for mass transit so that workers especially and those who are moving around will have reduction in the fares that they pay.
“Now this in combination with so many other things that government is doing government is appealing once again, to those who have the intention of embarking on this protest to please think about it once again. There is just no need for that.
“Of course, it is the democratic right of every Nigerian to engage in peaceful protests. And the government is not an opponent to that .But what government is doing is to ensure that while there is this right for you to protest, your right will also end where someone else‘s own begin.
“Therefore, while you are thinking of protesting, government is appealing to you to first shelve it because it has the great likelihood that this protest may be hijacked and may turn violent by unscrupulous elements, and Nigeria will not be good for it.
“Of course, we know that people are saying that there is no intention for violence in this, but our history has shown that there’s the possibility that this protest can be hijacked and could turn violent.
“It is an appeal again that the federal government is making to ensure that as government is making an effort to satisfy the demands of Nigerians in several respects in health care, in agriculture, in the provision of infrastructure in ensuring that our youth the young population go to school, and that they can also get employed when they finish and even before they do that.
“The Social Security system is being put out there so that no one is left behind. Please, there is no need for this protest.”
News
FEC approves ₦47.9tn 2025 budget
By Kayode Sanni-Arewa
The Federal Executive Council, FEC, has approved a proposed national budget of ₦47.9 trillion for the 2025 fiscal year.
Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this on Thursday while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu.
This was part of the Medium-Term Expenditures Framework, MTEF, for 2025 to 2027 and in line with the Fiscal Responsibility Act of 2007.
“And equally, the fiscal objectives were conservative, because we want to ensure that we study the course much as we believe the projections will be exceeded.
“The budget size that was approved for presentation to the National Assembly in the MTEP is ₦47.9 trillion, with new borrowings of ₦9.2 trillion to finance the budget deficit in 2025,” Bagudu said.
“We need to sustain the market deregulation, commendable market deregulation of petroleum prices and exchange rate, and to compel the Nigerian National Petroleum Corporation Limited to lower its oil and gas production cost significantly, and even to consider the need to amend the relevant sections of the petroleum industry act 2021 to address the significant risk to Federation.
“The Federal Executive Council approved the Medium Term Expenditure Framework and the physical strategy paper, and it will be submitted to the National Assembly.
“This is in addition to bills that are already at the National Assembly, the economic stabilization bills and tax reform bills, which we believe we will have a very, very strong growth in 2025.”
During the meeting, the FEC approved its submission to the National Assembly as required by the 2007 Fiscal Responsibility Act.
The framework projected a gross domestic product (GDP) growth rate of 4.6 percent, an exchange rate of $75 to the naira, and oil production of 2.06 million barrels per day. [Channels TV]
News
Nigeria to get 6,000 power generation by December-Power Minister vows
By Kayode Sanni-Arewa
The Minister of Power, Adebayo Adelabu, has expressed his unwavering optimism that the government will successfully meet its ambitious target of generating 6,000 megawatts of electricity by December 2024, despite the numerous challenges currently affecting the power sector.
The Special Adviser on Strategic Communication and Media Relations, Bolaji Tunji, conveyed this assurance at the fourth edition of the Power Correspondents Association of Nigeria’s annual workshop, themed “Ending the Talk, Moving the Action,” held on Thursday in Abuja.
Nigeria’s power generation currently ranges between 3,500 and 4,000 MW for a population of approximately 200 million people. For instance, on Thursday, the country’s power generation was 3,556.38 MW as of 8 am.
Earlier this year, Adelabu pledged that power generation in Nigeria would reach 6,000 MW by the end of the year, citing improvements in the sector over the past year.
However, the frequent collapse of the nation’s electricity grid and the vandalisation of towers have raised concerns about the stability of the Nigerian Electricity Supply Industry and its ability to achieve the target.
In his goodwill address, the Special Adviser emphasised that the minister’s primary focus remains on achieving the goal of increasing generation and ensuring its efficient distribution to consumers.
Tunji said, “The minister aims to achieve what seems to be an intractable goal—improving generation and ensuring that what is generated reaches the final consumers. There are challenges, but they are surmountable.
“The minister has promised that by December this year, we will reach 6,000 megawatts; yes, we still hope to get there.
“We are confident that we will get there, but we are aware of the current issues with grid collapse. Efforts are being made to resolve these problems. Day and night, teams are being dispatched to address the various issues, and we remain hopeful that we will achieve the 6,000 MW target by December.”
The Director of Renewable Energy, Sunday Owolabi, also reiterated that the government is committed to ensuring 24-hour power supply for Nigerians.
Owolabi, another representative of the minister, stressed that the government’s policies are focused on resolving the challenges facing the country’s electricity transmission, distribution, and generation sub-sectors.
“We are fully committed to transforming the country’s power sector. We are focused on ensuring that our policies are practical and sustainable. We are resolute in ensuring power supply for every Nigerian.
“The government remains fully committed to transforming Nigeria’s power sector through meaningful and actionable reforms.
“We are focused on ensuring that our policies are not only visionary but also practical, impactful, and sustainable. From the ongoing efforts to address infrastructure gaps, enhance power generation, and improve transmission networks, to vital reforms in distribution and the full implementation of the electricity market, we are resolute in our mission to improve power supply for every Nigerian.”
News
Just in: Wike sends FCDA Executive Director on indefinite suspension
By Kayode Sanni-Arewa
Minister of the Federal Capital Territory, Nyesom Wike has suspended the Executive Secretary, Federal Capital Development Authority (FCDA), Engr. Shehu Hadi Ahmad indefinitely.
According to a statement on Thursday, by Lere Olayinka, Senior Special Assistant on Public Communications and New Media to the Minister of Federal Capital Territory (FCT), the suspension of Engr Hadi Ahmad is with immediate effect.
The suspended Executive Secretary has consequently been directed to hand over to the Director of Engineering Services, in the FCDA.
Meanwhile, Nyesom Wike has revealed that President Bola Tinubu ordered the construction of houses for judges in Abuja.
The former Rivers State governor said the project is part of the government’s plan to provide secure housing for judges and strengthen the judiciary’s independence.
Speaking during a media chat on Wednesday, the former Rivers Governor clarified that the housing project is not his personal initiative.
Wike explained that the housing scheme was included in the 2024 budget, approved by the National Assembly, and is not his personal decision.
He added that judges currently live in rented homes, which could make them vulnerable.
He compared this to similar projects he carried out as Rivers State governor and expressed surprise at the criticism, especially from legal professionals.
Wike insisted the project is lawful and should be welcomed as a step in the right direction.
-
News18 hours ago
Trump picks ex-Democrat Tulsi Gabbard as US Intel Chief
-
News18 hours ago
NNPC Carries Out Leadership Shakeup, Appoints Adedapo Segun As New CFO
-
News18 hours ago
JUST IN: Govt Declares Friday As Public Holiday
-
News17 hours ago
Umahi Frowns At Slow Pace Of Suleja-Minna Road Construction
-
News18 hours ago
Abia Assembly orders Deputy Governor, Emetu to apologise over assault on House member
-
News18 hours ago
NYSC announces date for ‘2024 Batch C’ registration
-
News18 hours ago
NNPC, Dangote Sign GSPA Agreement To Boost Local Production, Revamp Industrial Growth
-
News14 hours ago
Mikel Obi explains how Kai Havertz dishonoured Chelsea fans