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Kenya reinstates fuel subsidy for 30 days to curb soaring prices

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Following soaring prices in the country, the Kenyan government has reintroduced fuel subsidy to curb soaring prices of petrol, kerosene and diesel in the country.

The development comes after months of violent anti-government protests over the burden of high living costs.

On Monday, the Energy and Petroleum Regulatory Authority (EPRA), Kenya’s energy regulator, said oil marketing companies will be compensated from the Petroleum Development Fund.

The regulator said the maximum retail price of a litre of petrol would remain constant at 194.68 shillings ($1.35) for the next month, shielding consumers from an increase of 7.33 shillings ($0.05).

EPRA also said small subsidies will be implemented for kerosene and diesel.

“In order to cushion consumers from the spike in pump prices as a consequence of the increased landed costs, the Government has opted to stabilise pump prices for the August-September 2023 pricing cycle,” the statement reads in part.

“Oil Marketing Companies will be compensated from the Petroleum Development Fund.”

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In Kenya, retail fuel prices are set in the middle of each month.

The development means the price of petrol, diesel and kerosene will remain unchanged until September 14.

After taking office in September last year, Kenyan President William Ruto removed fuel and maize flour subsidies put in place by his predecessor, citing the need to subsidise production rather than consumption.

He said his administration would reduce food production costs and increase output by subsidising inputs such as fertiliser and quality seeds.

“In addition to being very costly, consumption subsidy interventions are prone to abuse, they distort markets and create uncertainty, including artificial shortages of the very products being subsidised,” Ruto had said.

In Kenya, inflation reduced to 7.3 percent in July from 7.9% a month earlier, largely due to falling food prices.

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JUST IN: Tinubu, Shettima to pay toll at airport gates

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President Bola Tinubu and Vice-President Kashim Shettima will now pay the required toll whenever they use the gates at airports.

 

Festus Keyamo, minister of aviation, announced this to journalists after the federal executive council (FEC) meeting chaired by Tinubu at the presidential villa in Abuja on Tuesday.

 

 Keyamo said he presented two memos which were approved by the council.

Details later…

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Tinubu suspends 0.5% cybersecurity levy

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President Bola Tinubu has suspended the 0.5 percent cybersecurity levy after criticism and protest trailed the announcement.

 

Mohammed Idris, minister of information and national orientation, announced the suspension.

 

Idris said Tinubu directed the Central Bank of Nigeria (CBN) to suspend the implementation and review the modalities for its implementation.

Details later…

 

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Minister to sue Niger speaker over plans to ‘marry off’ 100 girls, says it’s ‘totally unacceptable’

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Uju Kennedy-Ohanenye, minister of women affairs, has petitioned the inspector-general of police (IGP) and sought a court injunction to halt the marriage of 100 girls in Niger state.

 

Abdulmalik Sarkindaji, speaker of the Niger state house of assembly, announced last week that he would sponsor the wedding of 100 girls, some of whom were orphaned by insurgency, as part of his Maringa constituency project.

 

He said he had procured materials for the event scheduled for May 24, and promised to pay dowries for the bridegrooms.

 

Following the outcry that trailed the announcement, the speaker explained that he was only financing the wedding — not forcing the girls into marriage.

 

However, Kennedy-Ohanenye said the plan is unacceptable, and that the future of the girls should be a priority.

 

Speaking to journalists in Abuja on Monday, the minister said a thorough investigation into the circumstances surrounding the issue will be carried out.

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She said the ministry will take responsibility for the girls’ education and vocational training.

 

“I want to let the honorable speaker of house in Niger state know that this is totally unacceptable by Federal Minister Of Women Affairs and by the government,” Kennedy-Ohanenye said.

 

“Because there is something called the Child’s Right Act and I said it from the onset, that is no more business as usual.

 

“These children must be considered, their future must be considered, the future of the children to come out of their marriage must be considered.

 

“So I have gone to court. I have written him a letter and written a petition to the IG of police.

 

“And I have filed for injunction to stop him from whatever he is planning to do on the 24th, until a thorough investigation is carried out on those girls, find out whether they gave their consent, their ages, find out the people marrying them.

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“As the speaker did not think about empowering these women or sending them to school or giving them some kind of training support financially.

 

“The women affairs have decided to take it up and we are going to educate the children.

 

“Those that do not want to go to school, we will train them in a skill, empower them with sustainable empowerment machines to enable that child build his or her life and make up her mind who and when to get married.

 

“If for any reason the speaker tries to do contrary to what I have just mentioned, there will be a serious legal battle between him and the Federal Ministry of Women Affairs.”

 

The minister added that based on the Child Rights Act, every child belongs to the state, hence the rights of every child will be protected from harm and violence.

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