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Things Would Have Been Worse If Subsidy Didn’t Go – FG

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The Federal Government has again defended its removal of subsidy on petroleum despite the cost of living and inflation soaring in the aftermath of the move. 

Nigeria had for years swapped crude for gasoline that it then subsidises for its domestic market, causing a huge drain on revenue, and foreign exchange and contributing to ballooning debt. But during his inauguration in May, President Bola Tinubu ended the long-running arrangement to support fuel prices in Nigeria, the continent’s most populous country and biggest economy.

The move saw the price of the commodity move from N190 to over N600 per litre with the cost of living ballooning afterwards. But the Minister of Information and National Orientation Mohammed Malagi on Thursday argued that the removal of the subsidy was in the best interest of the country.

“You’re premising your argument on the fact this problem just started yesterday. The foundation of our economy had taken a beating a long time ago. The substructure of our national economy has been one that cannot hold a meaningful substructure on it,” he said while featuring on Channels Television’s breakfast show Sunrise Daily. 

“So, it is important that Nigerians recognise that the President and his team would have to go back to reset that and that is why from day one, he said, ‘Look, subsidy issue has to go’. He had to expect that there would be this pain, of course. He anticipated that Nigerians would encounter some difficulties. But it would be worse if that subsidy did not go. It would have been difficult to carry out any meaningful development. We needed to free up resources.”

The Minister of Information and National Orientation Mohammed Idris during an interview on Channels Television’s Sunrise Daily on Thursday, February 1, 2024.

The Federal Government had argued that the impact of the subsidy was not felt by the masses as some select persons were benefiting from it.

According to the minister, security agencies are, however, working to bring the culprits who are referred to in most quarters as “subsidy thieves”.

“Of course, everybody is being investigated. Security agencies are doing their jobs in that direction,” he said.

Channels Television

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Cyril Ramaphosa Re-elected As South African President

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The South African Parliament has, during its first sitting of the 7th Parliament on Friday, re-elected Mr. Cyril Ramaphosa as the President of the Republic of South Africa. He has been re-elected to serve a second term as the President.

Thia was hours after his African National Congress and the Democratic Alliance (DA) agreed to form a coalition, setting aside their rivalry in a historic governance pact.

In terms of the Constitution, the National Assembly must, at its first sitting after its election, elect a woman or a man from among its members to be the President.

Mr. Ramaphosa was elected with 283 votes against Mr Julius Malema with 44 votes. The Constitution states that when elected President, a person ceases to be a member of the National Assembly and, within five days, must assume office by swearing or affirming faithfulness to the Republic and obedience to the Constitution.

The President-elect will be inaugurated during a ceremony in Pretoria which, according to the Constitution, should take place within five days after the President’s election.

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Finidi George Resigns As Super Eagles Coach

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Newly appointed Super Eagles coach, Finidi George, has resigned his appointment,  according to a post by ex-Super Eagles media officer, Toyin Ibitoye on X.com on Saturday.

He wrote, “News just in. Finidi George #FinidiGeorge_FG has resigned from his #NGSuperEagles manager position.”

The resignation follows the Nigeria Football Federation’s (NFF) decision to appoint a foreign coach to oversee him, despite his recent appointment in May.

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Appeal Court Insists Amaewhule, 26 Others Not Members of Rivers House of Assembly

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The Court of Appeal in Abuja, on Friday, refused to set aside a judgment ordering the removal of Martins Chike Amaewhule and 26 others as members of the Rivers State House of Assembly.

Justice Charles Wali of the Rivers State High Court, Port Harcourt, on May 30 declared the seats of the 27 lawmakers who dumped the Peoples Democratic Party (PDP) to the All Progressives Congress (APC) in October last year vacant.

The judge, who delivered the ruling in a suit filed by the Speaker of the Assembly, Victor Oko Jumbo, and two others, also restrained Amaewhule from parading himself as Speaker of the Assembly.

Dissatisfied with the verdict, the aggrieved lawmakers approached the appellate court to set it aside.

However, at a virtual hearing of the matter on Friday, a three-member panel of the appellate court declared that the reversal of the lower court ruling would amount to pre-judging the appeal currently before it.

The panel, thereafter, fixed June 20 for the hearing of the appeal filed by the lawmakers in their quest to regain their seats in the Assembly.

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