News
FG Postpones Fuel Subsidy Removal till Further Notice
The Minister of Finance, Budget and Economic Planning, Hajia Zainab Ahmed, said in Abuja on Monday that the Federal Government had postponed the planned removal of subsidy on petroleum products till further notice.
Ahmed stated this at a meeting held at the National Assembly.
The meeting was convened at the instance of the President of the Senate, Ahmad Lawan.
It had in attendance the Minister of State for Petroleum Resources, Timipre Sylva and the Group Managing Director of the. NNPC Limited, Mele Kyari, among others.
The Finance Minister said the Federal Government initially had the plans to remove subsidy on petroleum products from July this year.
She said that was the reason adequate provision was made in the 2022 national budget for subsidy payment till June.
She said, “Provision was made in the 2022 budget for subsidy payment from January till June. That suggested that from July, there would be no subsidy.
” The provision was made sequel to the passage of the Petroleum Industry Act which indicated that all petroleum products would be deregulated.
“Sequel to the passage of the PIA, we went back to amend the fiscal framework to incorporate the subsidy removal.
“However, after the budget was passed, we had consultations with a number of stakeholders and it became clear that the timing was problematic.
“We discovered that practically, there is still heightened inflation and that the removal of subsidy would further worsen the situation and impose more difficulties on the citizenry.
“Mr. President (Muhammadu Buhari), does not want to do that. What we are now doing is to continue with the ongoing discussions and consultations in terms of putting in place a number of measures.
“One of these include the roll out of the refining capacities of the existing refineries and the new ones which would reduce amount of products that would be imported into the country.
“We therefore need to return to the National Assembly to now amend the budget and make additional provision for subsidy from July 22 to whatever period that we agreed was suitable for the commencement of the total removal’
The Senate President therefore urged the organised labour unions in the country to shelve their proposed nationwide protests as it was no longer necessary.
The meeting dissolved to a closed session and it was still ongoing as at the time of filing this report.
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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