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Afenifere slams Tinubu’s govt over alleged insensitive policies

Published

9 months ago

July 29, 2023

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Afenifere, the apex Yoruba socio-political group, has decried the “insensitive policies” of the administration of President Bola Tinubu, especially the “sudden” removal of petrol subsidy and the “total” disregard for the impact of the action on the people and the economy.

Afenifere in a statement on Friday by its Secretary General, Sola Ebiseni, the group said in six weeks, “an already asphyxiating economy reeling under the crushing impact of hyperinflation, unemployment, mass hunger and poverty foisted by the gross ineptitude and incompetence that characterized the watch of eight years is looking like an episode drawn straight out of Dante’s Hell”.

The group, which endorsed Tinubu during the February 25, 2023 poll, said it could no longer “fold its arms or be seen to maintain silence, neutrality or ambivalence in the face of this latest body blow on an already traumatized citizenry”.

“It is feared that this latest gross act of thoughtless policy implementation and its unintended consequences will further push Nigeria’s economy down the slope as Nigeria has officially overtaken India as The New Poverty Capital of the World,” Afenifere warned.

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On May 29, 2023, Tinubu, of the ruling All Progressives Congress (APC), gave Nigerians a shocking inauguration gift at the Eagle Square in his “subsidy is gone” historic speech.

Premium Motor Spirit (PMS) known as petrol immediately rose from N184 per litre to N500 and later to over N600, amid soaring food prices and high transportation cost.

The Tinubu government also floated the naira against the dollar and other foreign exchange, with one dollar hitting over N850.

In its statement, Afenifere said there is a wide consensus that the petrol subsidy regime as it had been managed, especially in the last eight years, was becoming ruinous to the economy and could no longer be sustained.

“No one, however, expected that the subsidy would be removed in the sudden manner it was done: a seeming off-the-cuff declaration of the removal of the subsidy, totally ignoring the impact on the people and the economy,” the statement partly read.

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“Such a huge economic decision with clear potential for serious deleterious impact on disposable incomes of the already impoverished citizens should never have been made in the cavalier manner as was witnessed.”

Afenifere further said the planned disposal of palliatives in cash by the government “suggest a total ignorance of the current realities and the gigantic remedial needs of the populace”.

“Rather than pay cash that will evaporate and provide only momentary relief to a minuscule few, effective plans ought to be put in place to provide facilities that will ameliorate the suffering of the masses right across the country in a sustainable manner,” it said.

The group also said the sacrifices to restore the fiscal viability of the country must be made by all, especially leaders involved in the “gargantuan waste of public funds in running government with a multiplicity of agencies”.

Related Topics:Afenifere INSENSITIVE POLICIES Tinubu

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Coastal highway: Umahi slams Obi, says he’s inciting south-east people against FG

Published

2 hours ago

May 2, 2024

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David Umahi, minister of works, says Peter Obi, former governor of Anambra, is inciting people of the south-east against the Federal Government over the Lagos-Calabar coastal road project.

Umahi spoke in Lagos on Wednesday during a stakeholders’ meeting on the road project.

Recently, the federal government commenced the construction of the Lagos-Calabar coastal road, which is expected to run through the shoreline of beach resorts in Lagos, while traversing eight other states.

The project has generated controversy and concerns about funding and the businesses that would be affected during construction.

On Tuesday, Obi, presidential candidate of the Labour Party (LP) in the 2023 elections, criticised the federal government over the project, describing it as a misplaced priority.

The former Anambra governor said the “insensitive” demolition of structures for the project was “heart-wrenching”.

UMAHI REPLIES OBI

Responding to the comment, Umahi said Obi supported the demolition of structures for road infrastructure while he was the governor of Anambra.

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The minister condemned Obi for criticising the Federal Government over the project, adding that affected property owners are already being compensated.

“When you condemn people you bring judgment upon yourself and that is what he has done,” Umahi said.

“I think he is inciting some of the south-east people that are not well informed.

“He is inciting and getting them into trouble and he does not go to fight for them.

“Wisdom is a defence. It gives light to those that practice it. I want our people to have wisdom because I’m involved.”

Umahi added that the federal government did not destroy the facilities of Landmark Beach, noting that only shanties on the right of way were removed.

He said the owners of Landmark Beach were not unfairly treated in the construction of the project.

The minister accused Paul Onwuanibe, chief executive officer (CEO) of Landmark Africa Group, of politicising the issues arising from the project.

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Good morning! Here Are Some Major News Headlines In The Newspapers Today: Minimum wage: FG, Labour talks deadlocked, NLC defends N615,000 demand

Published

2 hours ago

May 2, 2024

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1. The ongoing negotiations for a new minimum wage have deadlocked following the inability of the Federal Government and the organised labour to reach a consensus on the issue. President Bola Tinubu gave this indication in his speech during this year’s International Workers’ Day celebration in Abuja, on Wednesday.

2. The Federal Government says it will stop granting licences to gas companies with no capacity to build pipelines for gas distribution. This, the government said, became necessary to discourage the transportation of compressed natural gas through the roads.

3. The House of Representatives Committee on Petroleum Resources (Downstream and Midstream) has called on security agencies to pick up hoarders of the Premium Motor Spirit, also known as petrol. The committee also assured Nigerians of the availability of petrol in stock, stressing that the logistical challenges which made the product scarce were being addressed.

4. The Federal Government has assured workers in the country that the implementation of the new national minimum wage would still take effect from May 1, 2024. Mrs Nkeiruka Onyejeocha, Minister of State for Labour and Employment, gave the assurance during the commemoration of the May Day celebration, on Wednesday in Abuja.

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5. Minister of Works, David Umahi, has announced that the federal government plans to pay N2.75 billion as compensation to property owners affected by the demolition required for the construction of the Lagos-Calabar Coastal Highway today, Wednesday, May 1. Umahi said that the highway is projected to stretch from channel 0 to channel 3.

6. Africa’s richest man, Aliko Dangote, has lamented that the devaluation of naira, Nigeria’s currency, was the biggest mess for his company in 2023. Dangote, the Chairman of the Dangote Industries Limited made this statement during the annual general meeting of Dangote Sugar Refinery Plc.

7. The National Secretary of the Independent Petroleum Marketers Association of Nigeria, IPMAN, James Tor, has cited the Israel-Iran crisis as a major cause of the current fuel scarcity in Nigeria. He noted that the current geopolitical tensions in the Middle East compounded existing challenges, leading to a bottleneck in the supply chain.

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8. Minister of Works, Engr Dave Umahi, on Wednesday, accused the 2023 presidential candidate of Labour Party, Peter Obi, of inciting some of the people of South-East against the federal government over the Lagos-Calabar coastal highway project. He made the statement in reaction to the criticism by Obi that the project embarked on by Bola Tinubu’s administration is a job-losing one.

9. Governor Dauda Lawal of Zamfara State has pledged to decisively deal with workers receiving multiple salaries in the state civil service. The governor made the disclosure on Wednesday while speaking at the 2024 Workers’ Day celebration held in Gusau.

10. Tactical team of Kwara State police command has arrested three suspected cultists over the killing of the leader of another cult group, while manhunt has been launched to arrest other fleeing suspects involved in the inter cult attacks. Spokesperson of the command, DSP Ejire Adetoun Adeyemi who disclosed this in a statement made available to journalists in Ilorin yesterday, identified the suspects in police net as Sulaiman Ismail Mamud Ibrahim and Mudashir Saheed.

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Biggest mess created in 2023 was devaluation of naira – Dangote

Published

16 hours ago

May 1, 2024

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Aliko Dangote, chairman of Dangote Industries Limited, says the devaluation of naira created the biggest mess for the company in 2023.

Dangote spoke on Tuesday during the annual general meeting of Dangote Sugar Refinery Plc.

According to Dangote, the company is putting in efforts to ensure it pays dividends this year.

He said a lot of companies, especially in food and beverages businesses, were also affected and will be unable to pay dividends.

“We are doing whatever it takes to make sure that at the end of the day, we will be paying dividends because if you look at our dividends last year, it was almost 50 percent more so we will try and get out of the mess,” Dangote said.

“The biggest mess created was actually the devaluation of the naira from N460 to N1,400.

“You can see almost 97 percent of the companies, especially in food and beverages businesses, none of them will pay dividends this year for sure but, we will try and get out of it as soon as possible.

“We want to see that at the end of the day, no matter how small, we will be able to pay some dividends, especially if there is a rebound of the naira.”

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‘WE’LL REAPPLY FOR MERGER OF DANGOTE SUGAR WITH NASCON’

Speaking on the suspension of the planned merger of Dangote Sugar Refinery with Nascon Allied Industries Plc and Dangote Rice Limited, the chairman said it was put on hold because the Securities and Exchange Commission (SEC) wanted the rice factory to begin.

Dangote said the rice factory in Jigawa is expected to be commissioned soon, adding that Dangote Sugar will reapply for the merger when the time is right.

On April 19, Nascon announced the suspension of its proposed merger with Dangote Sugar.

Nascon said the merger was not completed due to the current non-operational status of Dangote Rice.

DANGOTE SUGAR TO END SUGAR IMPORTATION IN 2028

Dangote said the company’s sugar master plan will enable the producer to sell only locally produced sugar in the next four years.

According to the chairman, the implementation of the backward integration policy will give the company the best future in terms of stability and prevent issues relating to exchange rate losses.

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“The sugar master plan we are now taking is very, very serious,” he said.

“But to say the least, the industry as a whole, did not really push as we are supposed to push in terms of the backward integration.

“We have done a lot, but we also have our fears because if there is no proper implementation, we do not want to go and sink a lot of your money and we end up losing money because if government is not following or making sure that everybody behaves, then we will not be able to make money. But right now, I think they have called us.

“We have sat down and I can assure you on our own, we think the best future of this company is through the backward integration.

“Because backward integration will actually give you much more forfeit and stability and it will erase all these exchange rate losses.

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“So, by the grace of God, in the next four years maximum, our company should be producing what we are selling currently, all domestic, 100 percent domestic.”

However, Dangote said if any sugar is imported by the company, it will only be to complement what it is producing.