News

Tinubu inherited economy ‘like a dead horse but standing’ – Soludo

Published

8 months ago

September 1, 2023

admin

Chukwuma Soludo, governor of Anambra State, on Friday, analysed the country’s macroeconomics, concluding that President Bola Tinubu inherited an economy that could be compared to a “dead horse but standing”.

Soludo shared this insight on Channels Television’s Sunrise Daily, when asked to respond to Tinubu’s stance kicking against spending 90 percent of the country’s revenue on external debt service.

“This government inherited, from a macroeconomic standpoint, I would say the economy was like a dead horse but standing, in macroeconomic terms and modelling through this over the coming months we will bumpy, no question about it,” he said.

The All Progressives Grand Alliance (APGA) governor added that his position was in “empathy and commiserations” for Tinubu’s economic team.

“But I am glad that at least, the first salvos by the president, by his courageous step to remove the obnoxious scam that has festered over the years called petrol subsidy and then dealing with the exchange rate,” Soludo noted.

READ Smugglers devise new ways to supply fuel to bandits in Katsina -Customs

Related Topics:Chukwuma Soludo President Bola Tinubu

Up Next

Do more in helping Nigeria combat terrorism, Tinubu tells UN

Don't Miss

Good morning! Here Are Some Major News Headlines In The Newspapers Today: Aviation minister Keyamo suspends Nigeria Air project

Click to comment

News

We’re not considering any foreign military base in Nigeria — FG

Published

1 hour ago

May 6, 2024

admin

The Minister of Information and National Orientation, Alhaji Mohammed Idris, has said that the Federal Government was not considering any foreign military base to counter insurgency and other crimes.

Disclosing this on Monday in Abuja, Idris noted that the Federal Government was aware of the false alarm being raised in some quarters about discussions with some foreign countries on the siting of foreign military bases in Nigeria.

He urged the public to “totally disregard this falsehood”.

In his words: “The Federal Government is aware of false alarms being raised in some quarters alleging discussions between the Federal Government of Nigeria and some foreign countries on the siting of foreign military bases in the country.

“We urge the general public to totally disregard this falsehood.

“The Federal Government is not in any such discussion with any foreign country.

“We have neither received nor are we considering any proposals from any country on the establishment of any foreign military bases in Nigeria.

READ Tinubu’s government inherited dead economy — Soludo

“The Nigerian government already enjoys foreign cooperation in tackling ongoing security challenges.

“And the President remains committed to deepening these partnerships, with the goal of achieving the national security objectives of the Renewed Hope Agenda.”

News

UPDATED: Ikeja DisCo reduces Band A electricity tariff to N206.80/kwh

Published

6 hours ago

May 6, 2024

admin

The Ikeja Electricity Distribution Company says it has reduced the tariff for customers under Band A classification to N206.80 per kilowatt-hour (kwh).

On April 3, the Nigerian Electricity Regulatory Commission (NERC) approved an increase in electricity tariff for customers under the Band A category to N225 per kwh — from N66.

The commission said customers under the classification are those who receive 20 hours of electricity supply daily.

Announcing the slash in a circular on Monday, Ikeja Electric said the new tariff regime will take effect from May 6, 2024.

“Please be informed of the downward tariff review of our Band A feeders from N225/kwh to N206.80/kwh effective 6th May 2024 with guaranteed availability of 20-24hrs supply daily,” the circular reads.

However, the DisCo said the tariff for bands B,C,D and E are unchanged.

On April 4, NERC said the approved tariff increase is expected to reduce subsidy for the 2024 fiscal year by about N1.14 trillion.

“With the newly approved tariffs, subsidies for the 2024 fiscal year are expected to reduce by about NGN1.14 trillion in furtherance of the federal government’s realignment of the subsidy regime,” NERC said.

READ Man sentenced to death for killing wife in Ondo

Musliu Oseni, vice-chairman of the commission, said the new tariff will bolster the nation’s economy.

News

JUST IN: Ikeja DisCo reduces Band A electricity tariff to N206.80/kwh

Published

7 hours ago

May 6, 2024

admin

The Ikeja Electricity Distribution Company says it has reduced the tariff for customers under Band A classification to N206.80 per kilowatt-hour (kwh).

On April 3, the Nigerian Electricity Regulatory Commission (NERC) approved an increase in electricity tariff for customers under the Band A category to N225 per kwh — from N66.

The commission said customers under the classification are those who receive 20 hours of electricity supply daily.

Announcing the cut in a circular on Monday, Ikeja Electric said the new tariff rate will be effective from May 6, 2024.

Details later…