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Senate Rejects Bill to Phase Out Petrol Vehicles by 2035

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The Senate on Wednesday rejected the Bill for an Act to phase out petrol vehicles by 2035 and introduce electric cars.

This followed observations by lawmakers on the impossibility of mandating Nigerians to stop the use of petrol vehicles.

Following the rejection, the sponsor of the bill, Senator Ben Murray-Bruce Bruce, withdrew it.

He, however, raised a Point of Order, saying that posterity would judge him right for the need to embrace electric vehicles, adding that in no distant time, combustible vehicles would be phased out.

According to him, the earlier Nigeria buys into the change, the better.

“I can never quarrel with my leaders and friends, but I want them to close their eyes and know they are in the 21st century.

“I own an electric car that I have been using for the past five years. It is cheaper to maintain and durable. So, the fears put forward by my colleagues are highly debatable.

“I will withdraw the bill, but I want my colleagues to know they do not belong in the 21st century,” he said.

Presenting the bill before its rejection, Bruce said one of the major advantages of using electric vehicles was that it would help to solve the problem of ozone layer depletion.

He also said the use of electric vehicles would be health friendly, among other things.

Contributing, Deputy Senate President, Ike Ekweremadu, congratulated Murray-Bruce for the bill. He, however, said there was no need for a law to be passed for Nigerians to switch from use of petrol vehicles to electric vehicles.

He said, going down history, people moved from the use of animals as sole means of transportation to the use of bicycles, motor bikes, cars and other advanced means of transportation.

According to him, the provisions of the 1999 Constitution which provide for freedom of movement sufficed.

“I congratulate Ben Murray Bruce for his uncommon common sense and brilliant ideas in the lead debate, but what is not common is the need to introduce a law to mandate the use of electric cars.

“If we go down in history donkeys were used as means of transportation and there is no law that caused people to begin to use cars.

“This is ancillary to section 41 of the 1999 Constitution, which requires freedom of movement. So, he should consider taking back the bill.”

In his remarks, the President of the Senate, Dr. Bukola Saraki, emphasised the need to move to other items on the day’s Order Paper since Murray-Bruce had withdrawn the bill.

He also said the Point of Order raised by Murray-Bruce before withdrawing the bill was noted.

NAN

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Guinean Military Junta Dissolves Government, Seals Country’s Borders

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Guinea’s military junta, which took power through a coup in September 2021, has officially dissolved the government, as announced via a presidential decree read on state TV by the presidency’s Secretary General, Brig Gen Amara Camara.

The announcement was not followed by details regarding the rationale of this dissolution, or the timeline for establishing a new government.

As part of the dissolution, ministers in the now-dissolved government have been instructed to surrender their passports and official vehicles, and also given directives for their bank accounts to be frozen.

The junta has also directed security agencies to “seal” all of Guinea’s borders until the complete handover of government ministries to the junta.

According to Camara, during the interim period until a new government is appointed, lower-level officials will manage state ministries.

The dissolved government, led by Prime Minister Bernard Goumou, was appointed by coup leader Mamady Doumbouya, who led Guinea’s armed forces in overthrowing elected President Alpha Condé in September 2021. The coup came after a series of protests against Condé’s controversial bid for a third term.

Guinea, as well as several other countries in West and central Africa, including Mali, Burkina Faso, Niger, and Gabon, have experienced coups in recent years. These coups have faced strong condemnation from West Africa’s regional bloc ECOWAS, the African Union, and the UN.

The junta and ECOWAS had earlier set a 24-month transition period, and Guinea is expected to hold elections to restore democratic rule within 10 months, as the transition period comes to an end.

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Atiku’s Aide Accuses Tinubu’s Govt of Diverting Funds Through Fake Petrol Subsidy

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Phrank Shaibu, a Special Assistant on Public Communication to former Vice President Atiku Abubakar, has alleged that the refusal of the Federal government to react to recent reports on the return of petrol subsidy shows that public funds have started going into private pockets.

Shaibu made the allegation through a statement while reacting to reports by the International Monetary Fund (IMF) that the Nigerian government has begun paying petrol subsidy again.

According to media reports, monthly subsidy payment is nearly N1 trillion, far in excess of exceeds the amount paid monthly by the President Muhammadu Buhari administration.

Reacting to the allegation, Shaibu said it has become clear that one of the reasons the Nigerian National Petroleum Company Limited has not been paying the required amount of money into the government’s account is because monies are being diverted under an opaque and secret subsidy regime.

He alleged: “Tinubu has been boasting at every economic forum that he deserves to be in the Guinness Book of records for removing petrol subsidy.

“He even said before ringing the closing bell at NASDAQ in New York last September that the ‘corrupt subsidy’ regime and FX issues had been resolved.

“But as every other thing relating to Tinubu, this has turned out to be another lie from the pit of hell. Currently, the exchange rate based on what the Central Bank of Nigeria recommended to the Nigeria Customs Service is N1515/$1.

“Hence diesel price is now over N1,200 but petrol is still selling for between N600 and N700.

“Nigeria is the only country in the world where such disparity between diesel and petrol exists. It has become obvious that petrol subsidy has returned through the backdoor.

“With the return of petrol subsidy, oil marketers have opted out and that is why the NNPC has returned to being the sole importer of petrol once more and has the temerity to be announcing that it will not increase petrol cost regardless of the international price of crude oil and the exchange rate.

“To be clear, petrol subsidy in itself is not a bad thing when it is done transparently.”

Shaibu added: “Former CBN Governor, Lamido Sanusi, expressed shock last month that NNPC was still not remitting FX into government’s accounts.

“It is now obvious why this has been happening. Subsidy has returned but it is now being done in a corrupt and secret manner as funds are now being diverted into private pockets even worse than under Buhari. This is the Tinubu Lagos legacy from Lagos State.”

Shaibu said it was disappointing that the Finance Minister, Wale Edun; and CBN Governor, Yemi Cardoso, who both claimed to have gotten their appointments based on their expertise had failed to speak up but had continued to cover up the petrol subsidy.

He also alleged that the Tinubu government had continued to frustrate the takeoff of the Dangote refinery which would have at least reduced Nigeria’s FX demands.

“The media reported last week that lingering regulatory approvals have stalled Dangote Petrochemical Refinery’s plan to release aviation fuel (Jet A1) and diesel for sale in the Nigerian market.

“At the same time, Dangote refinery has been struggling to get the needed crude oil and has decided to import from the United States while the NNPC which has no business with monetary policy, committed Nigeria’s crude oil for a $3.3 billion Afreximbank loan ostensibly to stabilise the naira.

“It is obvious that Tinubu and his so-called economic team are quacks, charlatans who put their personal interest ahead of that of the country. With such Lilliputians at the helm of affairs, Nigeria’s economic woes are about to go from bad to worse,” Shaibu added.

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UK Economy Slips into ‘Technical’ Recession

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The United Kingdom slipped into a technical recession in the second half of last year after its economy registered two consecutive quarters of negative economic growth, official figures have shown.

The Office for National Statistics (ONS) announced through a statement on Thursday that Britain’s gross domestic product (GDP) shrank by 0.3 percent in the last three months of 2023, after contracting 0.1 percent in the third quarter.

It meant that the economy entered a technical recession, as defined by two or more quarters in a row of falling GDP.

It marked the first time the UK had entered recession since the first half of 2020 when the initial COVID-19 lockdown sent the country’s economy plunging into reverse.

The figures dealt a blow to Prime Minister Rishi Sunak, who had promised to grow the economy as one of his five priorities.

Chancellor Jeremy Hunt said inflation and high-interest rates were behind the output fall but insisted the economy was turning a corner.

He said: “While interest rates are high so the Bank of England can bring inflation down low growth is not a surprise.

“But there are signs the British economy is turning a corner; forecasters agree that growth will strengthen over the next few years.

“Wages are rising faster than prices; mortgage rates are down and unemployment remains low.

“Although times are still tough for many families, we must stick to the plan of cutting taxes on work and business to build a stronger economy.”

Shadow chancellor Rachel Reeves said the Prime Minister’s promise to grow the economy was in tatters.

“The Prime Minister can no longer claim credibly that his plan is working or that he has turned the corner on more than 14 years of economic decline under the Conservatives that has left Britain worse off.

“This is Rishi Sunak’s recession and the news will be deeply worrying for families and businesses across Britain,’’ he said.

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