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Petrol subsidy removal, exchange rate regulation may cause initial hardship – Tinubu

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The President-elect, Asiwaju Bola Tinubu, on Friday gave a hint of what his early days in office might look like.

Looking ahead of his Monday inauguration as Nigeria’s 16th leader, Tinubu said things might not be as rosy as some people are expecting.

He identified the pending plan to remove petrol subsidy and the need to end the multiple foreign currency exchange rates as issues that would pose initial challenge to the incoming administration.

He spoke through Vice President-elect Kashim Shettima at the 2023 Presidential Inauguration lecture held at the National Mosque, Abuja.

But he appealed for the support of everyone as efforts are made to deconstruct the maze of challenges facing the nation, declaring that the time had come for all Nigerians to stand together and face the challenges.

Shettima said: “Ours is a great nation waiting to unleash its great potentials to the world.

“China was once called a sleeping giant, but today, China has woken up. Nigeria needs to wake up.

“We are calling on all of you to pray for us for God’s guidance. I want to assure you that Tinubu will hit the ground running.

“We do not have the luxury of time. The challenges facing us are getting worse. We are living in a pressing time.

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“You can rest assured that in the fullness of time, Nigeria will pay glowing tributes to us.

“The starting point might not be rosy; let me be very honest with you.

“Oil subsidy is an albatross on our necks. The multiple exchange rate system is a drain on the national economy.

“There are certain decisions the President-elect will take, but in the fullness of time, Nigerians will not only appreciate but also celebrate us.”

Read Also: Senator urges Tinubu to prioritise fuel subsidy removal, census

Continuing, he said: “As the Chinese will say, the worst curse that a Chinese man may wish on you is for you to live in interesting times. And indeed, we are living in interesting times.

“But rest assured that in the fullness of time, Nigerians will come to pay glowing tributes to Asiwaju Bola Ahmed Tinubu.

We’re here — we’re leaders — not because of our intellect. Neither Kashim Shettima nor Asiwaju Bola Ahmed Tinubu holds any PhD degree.

“We are what we are not because of our physical powers. We are what we are, not because of our political sagacity. There are better politicians.

“Power, to us, will be a humbling experience. It’s an opportunity to serve God and humanity. And whether we accept it or not, we are going to spend more years of our lives outside power than in power.”

READ  Tinubu, APC storm Zamfara for presidential campaign rally, speaks on relationship with President Buhari (VIDEOS)

He pledged that women would be well represented and compensated in the incoming administration.

Buhari, represented by the Secretary to the Government of the Federation, Boss Mustapha, said the economic, security and other problems faced under his watch were not peculiar to Nigeria.

But he said the way Nigerians handled the problems showed that they surmounted other challenges and shall overcome.

He said: “The problems we have had within the economic, security and social sector are not peculiar to us. The potentials are always there to make the country great.

“How we managed during COVID-19 and the Russian /Ukrainian war among others have shown how Nigerians can come out of difficult situations.”

He urged Nigerians to set aside their differences in the polls and support the incoming administration.

Buhari said: “Elections have come and gone. Another set of leaders has been elected. It is our duty to give them the necessary cooperation to enable them deliver on their plans towards transforming Nigeria.

“As citizens we must turn our differences into our source of strength to enable progressive development.

READ  Tinubu seals pact with G-5 governors

“We must also strive to ensure peaceful coexistence, harmony, respect for the rule of law.

“A solid foundation has been laid in the last administration for successive administrations to build on.”

In a goodwill message during the lecture, Joint Admissions and Matriculation Board (JAMB) Registrar Ish-haq Oloyede said Tinubu’s victory in the February 25 election was sanctioned by God following the APC flag bearer’s desire for it.

Oloyede recalled the ’emi lokan’ (it’s my turn) statement by the President-elect on June 2, 2022 in Abeokuta and said God in his wisdom granted the request.

His words: “When Asiwaju said ‘Emi lokan’, Allah accepted it because Quran 15:5 and Quran 23:42 say no group can, on its own, hasten his own term and turn, nor can it be delayed by anybody. That is Quran 15:5.

“So, it is almighty Allah who has said “Iwo lokan” (It’s your turn).

He prayed that God might grant the President-elect and the Vice President-elect a successful tenure in good health, sound mind and divine guidance.

“May the almighty Allah who has granted Asiwaju — the meaning of Asiwaju is ‘the leader’ — the victory of power not to strip him of the garment of honour,” he said.

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Court restrains NERC from implementing tariff hike for Band A customers

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A federal high court in Kano has issued an order restraining the National Electricity Regulatory Commission (NERC) and the Kano Electricity Distribution Company (KEDCO) from implementing the new electricity tariff for Band A consumers.

Ruling on an ex parte motion on Thursday, Abdullahi Liman, presiding judge, made an interim order restraining NERC and KEDCO from going ahead with the impending tariff pending the hearing and determination of the motion on notice before it.

The order also restrained the defendant from intimidating and threatening to disconnect the applicants’ electricity supply for non-acceptance of the new increased tariff.

 

The suit marked FHC/KN/CS/144/2024 was filed by Super Sack Company Limited and BBY Sacks Limited.

 

Others are Mama Sannu Industries Limited, Dala Foods Nigeria Limited, Tofa Textile Limited and Manufacturers Association of Nigeria Limited (MAN).

The motion ex-parte was moved by Abubakar Mahmoud, counsel to the plaintiffs.

 

On April 3, NERC approved an increase in electricity tariff for customers under the Band A classification.

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The commission said customers under the category, who receive 20 hours of electricity supply daily, would begin to pay N225 per kilowatt (kW) from April 3 — up from N66.

The sudden hike has been criticised by the house of representatives and other stakeholders who have asked NERC to suspend the implementation of the new tariff.

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UK local election: Boris Johnson turned away from polling station after forgetting valid ID

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Former prime minister of the UK, Boris Johnson, was turned away from his local polling station after forgetting to bring the required photo identity.

 

Johnson had joined locals in South Oxfordshire on Thursday to vote in the police and crime commissioner election.

Polling officials however told him he would not be allowed to vote without providing his identity.

There are 22 acceptable forms of ID in the UK including passports, driving licences, blue badges, and certain local travel cards.

 

As prime minister in 2022, Johnson introduced the Elections Act which requires photo ID — a development that sparked intense criticisms from Britons.

Last year, the Electoral Commission warned that the new law could exclude hundreds of thousands of people, including minorities and those with disabilities.

A spokesperson for Johnson confirmed he had forgotten the photo ID, but that he was able to cast his ballot after he returned with a valid ID.

READ  Akpabio, Amosun, Fayemi, others step down for Tinubu

 

“Mr Johnson voted Conservative,” Sky News quoted the spokesperson as saying.

Downing Street said it would “look into” changing the controversial rules which require photo ID in order to vote, so that ID cards of veterans can be added to the list of valid identification.

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Governors can pay N615k minimum wage if they get priorities right – NLC

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President of the Nigeria Labour Congress (NLC), Joe Ajaero, says state governors can afford to pay the proposed N615,000 minimum wage if they get their priorities right.

Ajaero spoke on Thursday during an interview with Channels Television.

 

Recently, organised labour announced that the new minimum wage should be pegged at N615,000.

The proposal came amid ongoing minimum wage negotiations between federal and state governments on one hand, and organised labour on the other.

 

In 2019, the administration of former President Muhammadu Buhari pegged the national minimum wage at N30,000.

After the new minimum wage was announced at the time, it took some states forever to implement the increment.

 

Asked during the interview if organised labour’s proposal of N615,000 is realistic, Ajaero said the amount is the “most realistic” given the galloping inflation in the country.

 

The NLC president said organised labour considered factors like transportation, housing, and feeding before arriving at the sum.

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“If you are talking about being realistic, the N615,000 demand is the most realistic. Being realistic is not about slave wage,” Ajaero said.

 

“However, N30,000 is big money if inflation is brought down, and at a single digit.

“Look at the indices that create inflation. If you check them, you can talk about being realistic. All other factors in the country are going high and wages remain constant.”

 

Asked if states can afford the N615,000 proposal, the NLC president averred that it is not about ability to pay but the priorities of states.

“I think we need to understand the issues of ability to pay and not getting the priority right,” he added.

 

“Most of the states that have shown willingness to pay the current minimum wage are not among those getting the highest revenue.

“During the time of Muhammadu Buhari, some states were declared not having enough money to pay and he released funds for them to pay.

READ  Subsidy: Petrol price will come down, NNPC assures Nigerians

 

“Those states still refused to pay. It is not the question of either the quantum of money that they have or not, it is what they decide to do with such money.

 

“If they get their priorities right, then a lot can happen.”

 

Organised labour has also threatened to embark on a strike if a new minimum wage is not announced before May 31, 2024.

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