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Govt Spends N18.397b Per Day On Fuel Subsidy – Minister

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Compare Nigeria's Economy With Sudan's, Not South Africa's - Minister

The Federal Government spends N18.397 billion per day on fuel subsidy.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this on Thursday as the House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2022, grilled her.

Ahmed disclosed that the government spends N283 per litre of PMS or N18.397bn per day as subsidy.

She said, “For 2023, the projection is that the average daily truck out will be N64.96 million litres per day; that is about 65 million per day, using an average rate at open market rate of N448.20k and then a regulator pump price of N165 per litre. This gives us an average under-recovery, that is the difference between N165 and N448 of N283.2k.

“So, just multiply the amount of litre per day, the open market exchange rate of naira to the dollar and then, the gap between the pump price and open market price, the total amount of subsidy per day is N18.397bn.

READ ALSO: NLC Suspends Plan To Protest Against Fuel Subsidy Removal

“So, if you are projecting for the full year, from January to December, it will be N6.715tn. If you are projecting for half a year, it will be 50 per cent of that, 3.375tn. I said earlier in the recommendations that we sent to parliament for consideration on MTEF is half-year, that will be N3.357tn.”

The minister stated, “Fuel subsidy is the difference between the pump price which is now fixed at N165 (per litre) and the landing cost which we are projecting at an average of N448 per litre in 2023. Even now, the cost is around that.

“So, the PMS subsidy we are carrying today in the nation is around N283 per litre; that is what we are carrying. So, it is the difference between the pump price and the landing cost of petroleum products in the country.”

 

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BREAKING: APC Disagrees With Lawan , To Appeal Against Judgment Declaring Machina Senatorial Candidate

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BREAKING: APC Disagrees With Lawan , To Appeal Against Judgment Declaring Machina Senatorial Candidate

Less than 24 hours after Senate President Ahmed Lawan declared that he would not appeal against the ruling of a Federal High Court in Damaturu, the state capital, on Wednesday on the Yobe North senatorial seat matter, his All Progressives Congress (APC) has decided otherwise..

The APC in the state is determined to go on appeal over the matter.

The lower court had in its verdict, not only affirmed Bashir Machina as the party’s candidate for next year’s election, but ordered the Independent National Electoral Commission (INEC) to recognise him as such, a position the nation’s number three man said he would not appeal against.

However, in another turn of events, Mohammed Gadaka, Chairman of the APC in the state, arguing that the party had taken it as a duty to protect the Senate President, indicated party’s intention to proceed to the appellate court.

READ  ALSO: I Won’t Appeal Against Judgment Declaring Machina Senatorial Candidate – Lawan

“We are aware of the Wednesday, September 28, 2022, ruling of the Federal High Court in Damaturu, the Yobe State capital, with respect to the forthcoming Yobe north Senatorial District election. However, we respectfully reject the decision of the President of the Senate, His Excellency Senator Ahmad Lawan, accepting the judgment of the court which disqualified his candidature and participation in the election.

“In exercise of our legal rights, the Yobe State chapter of the All Progressives Congress (APC) has decided to appeal the Federal High Court ruling in the interest of Yobe State, Nigeria and good governance. We have a duty to protect and sustain Senator Ahmed Lawan’s twenty-three years exemplary sojourn as a lawmaker and his impeccable record of leadership and patriotism – and commitment to making Nigeria work.”

 

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Advocacy For Alleged Witches Petitions NHRC Over Witchcraft Markets Event

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Advocacy For Alleged Witches Petitions NHRC Over Witchcraft Markets Event

The Advocacy for Alleged Witches has written a petition to the Cross River State chapter of the National Human Rights Commission (NHRC) over a planned event to rescue families from witchcraft.

The petition titled “Petition: Ukpabio ‘s Rescuing Families from Witchcraft Markets Event” was signed by Dr.Leo Igwe.

The petition reads:
“I am writing on behalf of the Advocacy for Alleged Witches, an organization that campaigns to end witch persecution in Nigeria to lodge a complain about a proposed event, Rescuing Families from Witchcraft Markets, of Evangelist Helen Ukpabio and her Liberty Gospel Church. The event will be held on October 5 to 9 2022 in Calabar. As explained in this article, the event has some criminal intent and could fuel human rights abuses in Cross River state. Witchcraft accusation is a crime under the law. So it is important to restrain any individual or group, or stop any activity with the intent to accuse, or impute witchcraft as this proposed program by Ms Ukpabio and her church has indicated.

“As you may be aware, cases of witch persecution, attack and killings in Cross River have been linked to the activities of Ms Ukpabio and her church, and other witch hunters who openly advertise, stage and hold programs where they make witchcraft imputations (in this case in families), identify witches and exorcise witchcraft. Programs like this event on Rescuing Families from Witchcraft Markets valorize witchcraft beliefs, and incite people to suspect, maltreat, attack or kill family members in the name of witchcraft.

READ ALSO: Ukpabio’s Rescuing Families From Witchcraft Markets

“At a time when Cross River state is witnessing killings and attacks linked to witchcraft beliefs, it is necessary to take measures to prevent witchcraft accusations, witch identifications and persecutions. The Advocacy for Alleged Witches urges you to use your good office to restrain Ukpabio and her church from going ahead with this witch hunting event. ”

 

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BREAKING: Supreme Court Rules On Leadership Tussle In Edo PDP

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BREAKING: Supreme Court Rejects Bid To Enforce Zoning Policy In PDP

The leadership tussle in the Peoples Democratic Party (PDP) in Edo State chapter might have ended , with the dismissal of an appeal instituted at the Apex Court by Dan Orbhi-led faction.

The apex vourt in a judgment by Justice Emmanuel Akomaye Agim held that the issue of leadership by political parties is an internal affair and as such, the courts have no jurisdiction.

In the appeal marked SC/CV/979/2022, filed by Hon Monday Iyere Osagie, the Supreme Court said that the appeal lacked merit because it was not justiciable.

Justice Agim, who delivered the unanimous judgment, asked political parties to always adhere strictly to their guidelines, rules and regulations in order to promote genuine democracy.

READ ALSO: Why Obaseki May Lead Us Out Of PDP – Edo Deputy Governor

Edo State Governor Godwin Obaseki and a chieftain of PDP, Chief Dan Orbhi have been at each other’s throat over who controls the party in the state.

Governor Obaseki formerly of the All Progressives Congress, APC, decamped to the PDP, stood for the last governorship election on the party’s platform and won.

He later opted to control the machinery of the party.

 

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