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Presidency: Why Tinubu announced removal of petrol subsidy on his inauguration

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The  special adviser to the president on information and strategy, Bayo Onanuga, has said that President Bola Tinubu acted in the best interest of Nigerians by announcing the removal of the petrol subsidy on the day of his inauguration on May 29, 2023.

 

Onanuga said Nigeria was in serious financial trouble which prompted the president to act quickly before things got worse.

 

The presidential aide was reacting to an interview granted by Babachir Lawal, a former secretary to the government of the federation (SGF), who said the announcement of subsidy removal by Tinubu a few minutes after his inauguration was hasty and driven by arrogance without due consultations with relevant stakeholders.

 

While justifying  Tinubu’s action, Onanuga said there was no provision for subsidy in the budget left behind by former President Muhammadu Buhari.

 

He added that the country was in dire financial straits as the Nigerian National Petroleum Corporation (NNPC) could no longer import petrol due to N4 trillion debt owed by the federal government.

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“Is Babachir still talking? Well, that is his opinion that the subsidy was hastily removed,” Onanuga said.

 

“The truth is, the subsidy was meant to be removed by the end of June 2023 according to what former president, Muhammadu Buhari left behind.

 

“President Tinubu only announced it on May 29 on the day he was sworn in. That is to show you that something is wrong somewhere and that the nation had a problem at that time.

 

“What I find out is that Nigerians easily forget things, we have a short memory about things. They should cast their minds back to what happened at that period. The NNPCL was saying the government was owing them N4tr of subsidy money. NNPCL was the only importer of fuel and towards the general elections, fuel scarcity was all over the country.

 

“Due to the scarcity, in some places, fuel was selling for about N700 – N800 before President Tinubu was sworn in. NNPCL didn’t have money to import fuel because they were being owed over N4tr by the federal government. People have easily forgotten about that.”

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Onanuga said the country would have been in deeper problems if Tinubu did not act swiftly to address the situation.

“Tinubu knew the problem and that was why he made the announcement on the day of his inauguration. The language he used was ‘Subsidy is gone’ because even in the budget, there was no provision for it,” he said.

 

“I will challenge journalists to go and check that budget, when you look at that budget made by Buhari before leaving office, you will find out that aside no provision for subsidy, 97 percent of our income will be spent on servicing debts. If 97 percent of budget is used to service debts, what is left for Nigerians to spend?

 

“That 97 percent budgeted for debt servicing does not include the money the federal government owe the NNPCL. There were serious problems then and Tinubu just needed to do something quickly to arrest the deterioration.

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“You can see what has happened in the last nine months with those measures he took. Yes, those measures are painful but they are needed to reset the economy and financials of this country. Otherwise, we would have ended into a much more disastrous situation.”

 

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Police arrest mastermind of Abuja-Kaduna train attack

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The Nigeria Police, on Thursday, announced the arrest of the alleged mastermind of the attack on the Abuja-Kaduna where some passengers were killed while scores were abducted in March 2022.

 

The mastermind was identified as Ibrahim Abdullahi, also known by the ominous moniker of Mandi.

 

Force Public Relations Officer, ACP Olumuyiwa Adejobi, who made this known in Kaduna on Thursday, also disclosed that the suspect had also participated in the abduction of students from Greenfield University in 2021.

 

Adejobi also added that 48 AK-47 rifles were seized during Mandi’s arrest and efforts were underway to identify his sponsor and supplier of weapons.

He said, “On 12th January 2024, police operatives attached to an anti-kidnapping unit of Kaduna State Criminal Investigation Department, based on credible information swooped in and arrested one Ibrahim Abdullahi aka MANDE at Abuja-Kaduna Road flyover by Rido Junction.

“The suspect confessed to being the leader of a kidnap syndicate terrorizing the Kaduna-Abuja highway, ranked among other criminals like Dogo Gide and Bello Turji.

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“He had participated in various kidnapping incidents including the kidnapping incident at Green Field University and he partook in almost all the kidnappings along the Abuja-Kaduna highway.”

 

The police spokesman also said that no fewer than 81-armed robbers, 40 kidnapers, 73 murder/homicide suspects, 36 rape suspects, 22 suspects involved in cult-related crimes, and 28 suspects engaged in other criminal activities between January to date with particular focus on the Abuja-Kaduna expressway.

 

According to him, the strategic initiative being implemented by the force along the Abuja-Kaduna highway was responsible for current success stories so far recorded.

 

He added that operatives have successfully recovered 16 firearms of various types along with 226 ammunition of diverse calibres.

 

“Additionally, our operations have led to the retrieval of 28 stolen vehicles, over 200 harmful weapons, and 600 bags of fertilizers.

 

“A total of three million, three hundred and fifty thousand Naira (N3,350,000) only, previously paid as ransom to kidnappers, has been successfully recovered, while our swift and coordinated efforts have resulted in the safe rescue of 158 kidnapped victims, all of whom have been reunited with their families unharmed. These achievements include.”

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The police spokesman further said that the Nigeria Police Force under the leadership of IGP Kayode Egbetokun, remains steadfast in its resolve to uphold the rule of law, ensure the safety and security of all citizens as well as combat criminal activities in the country.

 

It will be recalled that some bloodthirsty terrorists had attacked the Abuja-Kaduna bound AK9 train on March 28 and abducted some passengers.

 

The  terrorists had reportedly planted explosive devices along the rail track and when the train approached the point, the device exploded, causing the train to derail, leading to the death of eight passengers.

 

A day after the attack, another passenger who suffered from a gunshot wound died, making it nine, the total number of those killed in that attack.

 

From the manifest received by the Nigerian Railway Corporation, 398 passengers bought tickets but 362 were validated as having bought tickets.

 

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How 17-year-old Yahoo boy stunned EFCC chairman with impressive IT skills

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Ola Olukoyede, chairman of the Economic and Financial Crimes Commission, has narrated the story of how a 17-year-old successfully hacked into his personal computer and bank account while being interrogated at his office in Lagos.

 

The anti-graft agency chairman made this known in a chat with editors at the EFCC Headquarters, Jabi, Abuja, last Tuesday.

 

Olukoyede recounted inviting the 17-year-old for questioning at his own office, only to witness the young hacker effortlessly bypass the security measures of his locked computer right before his eyes.

 

He said, “I brought into my Lagos office a seventeen-year-old boy who is studying History and Anthropology. He is in the 200 level. He is not doing anything science-related. The guy sat in my office in Lagos and demonstrated some things to me on my laptop.

 

“He asked for my number, I gave him my number and through my number, he got my BVN. He then mentioned the name of my account number to me at the bank. I didn’t tell him anything.”

 

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According to him, the country must take all necessary measures to discourage these young individuals, as their actions could lead to imprisonment or even fatal consequences.

 

“The problem is, I see crime in that, and I also see opportunities in it. So, if you leave these guys, we don’t make them know that what they are doing is wrong, if you leave them, they will continue to see it as a way of life to make money.”

 

He mentioned that due to their young ages, the EFCC would administer light sentences to punish youths for the cybercrimes they committed, while also focusing on helping them change their orientation.

 

“We plead for light sentences so that we can reorientate them and that’s part of what we’re doing. What joy will I derive from sending a 17-year-old boy to jail? You have destroyed his future. You have destroyed his career.

 

“Sometimes they give them options of fines and all of that conviction, so we bring them in, lecture them and talk to them.”

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In a bold demonstration of his skills, the boy confidently informed Olukoyede that he could transfer up to 10 million naira from any account in a single transaction.

 

He said the 17-year-old boy, when he was done, said, “Look, oga, I can make 10 million now. I will demonstrate it to you. I will move money from your account to mine.

 

“I said no, don’t do that in my office and he was ready to do that. When he opened my laptop, I didn’t give him the key to my laptop and he had access.

 

When questioned about his involvement in cybercrime, the boy explained that his parents, who are both farmers, were unable to work on their farm due to security concerns.

 

“He has two younger ones. One is in JSS2 and the other is in SSS2. He is the one feeding his parents and responsible for the payment of tuition for his younger ones.

“I saw a Bill Gates in that guy.”

 

Olukoyede, however, assured the boy that he would take responsibility for his schooling if he was able to stop the criminal act.

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“I told my family, we are going to do that.

 

“I spoke to one of my friends who is also ready to help take up the schooling of the SSS 2 guy. So I’m still looking for someone who will take up the one for the JSS 2 sibling.”

 

This is not the first time the EFCC chairman has revealed the anti-graft agency’s plan to rehabilitate convicted internet fraudsters with reduced sentences.

 

Addressing a delegation of the National Association of University Students in March 2024, he said “when you think deeply, that tag ‘ex-convict’ is not a good thing. You can never tell where you will find yourself tomorrow, and they will want to profile you and discover that you are an ex-convict.”

 

“So, it is even in the interest of the youth that the EFCC is doing what it is doing to prevent them from indulging in the heinous act of cybercrime.”

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Labour gives FG May 31 deadline for new minimum wage

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The Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) have given the federal government a deadline of May 31 to come up with a new national minimum wage for workers.

 

The ultimatum was given despite the decision of the federal government to increase the salaries of civil servants by 35 percent.

 

The Federal Government also approved an increase in pension of between 20 percent and 28 percent for pensioners on the defined benefits scheme, with respect to the six consolidated salary structures.

 

The implementation of the new salary structure was backdated to January 1, 2024.

 

Labour has since said it wants the sum of ₦615,000 as the new minimum wage.

 

Speaking during the Workers Day Celebration in Abuja, Joe Ajaero, president of NLC, said they might not guarantee the industrial harmony of the country if the new minimum wage is not implemented.

 

“The NLC and the TUC have made it clear and emphatically that should the minimum wage negotiation continue and linger till the end of May, we can no longer guarantee industrial harmony in this country,” Ajaero said.

Also speaking, Festus Osifo, TUC president, said the N30,000 current minimum wage is insufficient for Nigerian workers due to the current economic realities.

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Osifo implored the Nigerian Electricity Regulatory Commission (NERC) and power distribution companies to immediately reverse the current increase in electricity tariff for Band A customers.

 

“The NLC and TUC hereby advise NERC and power sector operators to reverse the last increase in electricity tariff within the next one week,” the TUC president said.

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