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84 Million Nigerians Living In Poverty Unacceptable To President Tinubu — Finance Minister Wale Edun

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  • Says we will give Nigerians decent work, sustained social protection.
  • N25,000 cash transfer begins.

Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, yesterday said the number of Nigerians (84 million) living in poverty is unacceptable to President Bola Ahmed Tinubu

The situation makes ending poverty a priority for the Administration, he added.

The minister hopes the N25,000 conditional cash transfer to 15 million households, which began yesterday, will help address the problem for the most vulnerable in the short term.

President Tinubu launched the Renewed Hope Conditional Cash Transfer initiative at the Presidential Villa.

For three months, 15 million poor households nationwide will receive N25,000 cash support, for which N1.125 trillion has been provided.

It targets over 61 million vulnerable Nigerians and is designed to cushion the petrol subsidy removal pain.

The take-off of the programme coincided with this year’s International Day for the Eradication of Poverty.

Among the initial beneficiaries, who were presented with cheques at the ceremony, were Larai Suleiman, Shuaibu Hassana, Sariki Bala Gamu, Okor Jonah and Hameed Isiaka.

Edun said: “It (the number of poor Nigerians) is totally unacceptable to the President as it is to the rest of us.

“That is why it is perhaps his number one priority to tackle poverty and he has a programme to stabilise and grow the economy in general.”

Nigeria’s population is estimated at over 225 million, according to Worldometer, which provides real-time world statistics.

President Tinubu, represented by the Secretary to the Government of the Federation, Senator George Akume, restated his Administration’s commitment to poverty alleviation.

He said the theme of this year’s poverty eradication day: “Decent work and social protection: Putting dignity in practice for all,” aligns with the Renewed Hope Agenda.

The President said: “Today is a significant day for us in Nigeria and for my administration for it brings with it an opportunity for me to restate my administration’s commitment to poverty alleviation as expressed in my eight-point agenda.

“My government will lead from the front in seeking to ensure that all Nigerians have opportunities decent for dignified work and sustained social protection.

“It is only via a sustained collaborative approach that we can win this war against poverty in Nigeria and the world at large. Hope is here.

“I ask the Nigerian people to please ensure that they key into all the available programmes because they are here to help.

“Our objective is to lift millions of Nigerians out of poverty.

“Yet, this will only be possible with the cooperation of the people we seek to help. Let us continue to work together to achieve our collective goal of eradicating poverty in Nigeria.”

Minister of Humanitarian Affairs and Poverty Alleviation, Dr Betta Edu, believes it would amount to sitting on a keg of gunpowder to ignore poverty.

According to her, the N75,000, which each household will receive for three months, can form the capital for some small-scale businesses.

She said: “Beyond this, the government will be providing low-cost shelter for the poor and internally displaced persons as a form of providing that cover for them.

“Other interventions, including the rural vocational skills intervention, will be carried out at a mass scale.

“All of these are targeted at the various dimensions of poverty in the country.

“Poverty is that scourge, a hydra-headed cobra in the room that if not tackled, would consume everyone.

“Sitting and ignoring poverty at any level will only seem or equate to sitting on a keg of gunpowder and that’s why today, the president is tackling it headlong.

“We want to encourage Nigerians, the private sector, and development partners that it’s time to step up to the occasion.

“We have a clear-cut roadmap, an action plan for the eradication of poverty. Everyone must key in and be part of it.”

World Bank country representative, Shubham Chaudhuri, stressed that cash transfers are universally accepted.

According to him, the method has proven to be one of the most effective ways to support those impacted by economic shocks or rising living costs.

Chaudhuri said: “This aid is crucial in helping them overcome the initial period during which they might otherwise be compelled to make decisions with long-term consequences.

“For instance, these decisions might include reducing daily meals to just one or withdrawing their children from school.

“The type of cash transfer referred to as ‘shock-responsive cash transfer’ that is currently being implemented is utilised by countries worldwide to offer temporary relief in such situations.”

The President in July ordered the release of grains to 50 million farmers and households.

He also ordered a review of the N8,000 conditional cash transfer programme, which was initially announced by the Administration following the removal of petrol subsidy.

The sum was initially proposed for payment to 12 million poor households for six months.

BIG STORY

Emefiele Loses Warehouse Built On 1.925 Hectares To Federal Government

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The Economic and Financial Crimes Commission (EFCC) has secured the final forfeiture of a warehouse linked to Godwin Emefiele, the former governor of the Central Bank of Nigeria (CBN).

According to The Guardian, top sources revealed that Justice Deinde Dipeolu of the Federal High Court in Lagos issued the forfeiture order on Thursday, December 19, 2024, with the property forfeited to the Federal Government of Nigeria.

The warehouse, built on a 1.925-hectare piece of land located at Km 8 along the Lagos-Ibadan Expressway in Magboro, contained 54 general-purpose steel containers.

The containers were filled with various types of sewing machines.

Earlier, on November 28, the judge had ordered the interim forfeiture of the assets after the Commission filed an application for their forfeiture.

Following the court’s directive for the EFCC to publish the order in two national newspapers, allowing any interested party to show cause why the assets should not be finally forfeited, the Commission later returned to court to request the final forfeiture of the assets.

According to the source, the court also ordered the forfeiture of the land on which the warehouse is situated to the government.

“At the resumed hearing of the matter on Thursday, EFCC Counsel, Rotimi Oyedepo, SAN, told the court that the EFCC had complied with the court’s directives to publish the assets in two national newspapers,” the source said.

“Citing Section 44(2)(B) of the constitution and Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, he prayed the court to grant the final forfeiture of the assets.

“Justice Dipeolu granted the order, making the forfeiture another milestone in the asset recovery drive of the EFCC.”

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BIG STORY

10 Feared Dead, Several Others Injured At Catholic Church’s Palliative In Abuja

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A stampede at the Holy Trinity Catholic Church in Maitama District of Abuja on Saturday morning has resulted in several deaths and numerous injuries.

The tragic incident occurred during a palliative distribution event organized by the church to assist struggling residents.

It was reported that chaos erupted as thousands of residents rushed to receive relief items, leading to the deadly crush.

Over 3,000 people, including children, mostly from nearby areas such as Mpape and Gishiri Village, had gathered for the event before the unfortunate incident took place.

Mike Umoh, the National Director of Social Communications at the Catholic Secretariat of Nigeria, confirmed the incident.

“Yes, it’s true, but the details are sketchy,” he said in a brief statement.

On the same Saturday, a stampede in Okija, a community in Ihiala Local Government Area of Anambra State in Nigeria’s South-east, also left many people dead.

According to Premium Times, witnesses reported that the victims had gathered to participate in the distribution of bags of rice donated by a well-known entrepreneur, Ernest Obiejesi, commonly referred to as Obijackson.

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NNPC Denies Misleading Report, Insists Port Harcourt Refinery Operational

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  • says product loading ongoing

 

The Nigerian National Petroleum Company Limited (NNPC) has affirmed that the renovated Port Harcourt refinery is fully operational.

The state-owned oil company clarified that preparations for loading operations were ongoing as of Saturday.

This clarification was made in a statement by Olufemi Soneye, the NNPC’s Chief Corporate Communications Officer, on Saturday.

Soneye was responding to reports suggesting that the refinery had halted loading petroleum products just one month after its reopening.

He confirmed that the refinery is fully functional, with a recent verification by former NNPC Group Managing Directors.

An earlier report by Saturday Punch said that less than a month after the Port Harcourt Refining Company appeared to have resumed production, the facility had stopped working.

Reacting, Soneye said preparation for today’s loading was ongoing at the time of sending out the statement.

“The attention of the Nigerian National Petroleum Company Limited has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down.

“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.

“Preparation for the day’s loading operation is currently ongoing,” he said in the statement.

He urged members of the public to disregard the report saying the malicious reports were the work of individuals attempting to create artificial scarcity and exploit Nigerians.

“Members of the public are advised to discountenance such reports as they are the figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians,” he stressed.

Olatunji Grace, a social media user with the handle @Tunjigrace, expressed her frustration, questioning the intentions of those who wish for things to go wrong in Nigeria.

She criticised individuals who discredit positive developments, stating, “Who are these people?

Does any other nation have such unfortunate citizens who pray for failure?”

She also expressed disappointment in a report by Punch Newspaper, describing it as “devilish and stupid journalism” that hides behind the guise of a “report.”

Another user, Patrick @Williamskane4, accused news media organisations of working with opposition political parties to spread fake news and misinformation.

He stated, “In collaboration with some opposition political parties, they spread lies, making propaganda their trade.”

Meanwhile, another user, Sarki @Waspapping_, defended the Old Port Harcourt Refinery’s operations, stating that the refinery is fully functional.

He questioned why some individuals and media outlets were spreading false narratives about shortages, claiming they aimed to exploit Nigerians.

Sarki emphasised that such misinformation benefits those who profit from scarcity and high prices and urged Nigerians to see through the lies and support local production efforts.

For decades, efforts to revive the Port Harcourt Refining Company (PHRC) seemed insurmountable. However, under Mele Kyari’s leadership, the once-elusive goal has been realised, signalling a critical step toward achieving energy self-sufficiency. This success is not only a milestone for the NNPCL but a testament to Kyari’s resolve to transform Nigeria’s energy landscape.

The Port Harcourt Refinery Company in Eleme is a sprawling facility divided into a 60,000-barrel-per-day-old refinery, and a new one capable of refining 150,000 barrels per day. The old refinery, operational since 1965, is Nigeria’s first refinery and had remained idle since 1990 when the newer unit became the primary production hub.

After over 30 years of dormancy, the old Port Harcourt refinery, which has a unique configuration where one barrel of crude oil yields a maximum of 23–24 per cent gasoline, was recently reopened by the NNPC Limited amid shock by forces against the revival of the country’s four refineries.

After the $1.5 billion approved by the Federal Government in 2021 for the comprehensive rehabilitation of the refinery had been judiciously spent, the NNPCL under Kyari’s sound leadership, reopened the Old Port Harcourt Refinery on Tuesday, November 26, 2024.

Today, the old Port Harcourt refinery is currently producing straight-run gasoline (Naphtha) blended into 1.4 million liters of PMS daily; 900,000 liters of kerosene; 1.5 million liters of Automotive Gas Oil (Diesel); 2.1 million liters of Low Pour Fuel Oil (LPFO), and additional volumes of Liquefied Petroleum Gas (LPG), also known as cooking gas.

Attempts by sceptics to rubbish the achievement recorded with the 60,000-barrel-per-day Port Harcourt refinery had been roundly repudiated by the NNPCL, workers at the refinery, experts, and delegates from the Presidency, Nigeria Labour Congress, Trade Union Congress, Petroleum and Natural Gas Senior Staff Association of Nigeria, and Nigeria Union of Petroleum and Natural Gas Workers.

 

Credit: The Punch

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