₦airaland Forum

MS247:
How many times are we going to tell you he is a Lagosian staying at Ikoyi close to Tinubu's house

helinues:
This one don dey calculate how him go spend his own N2500..

Hahaha, make I shock you, na for only selected vulnerable people most especially elderly not able body youths.

Make una go work

Nemesis0147:
Tinubu and APC has finished this country!

23jerryking:
Did you say go round? I just hope you're right about that because we know the country we live in. A few privileged guys will enjoy lots of it and the larger proportion of the society will continue to wallow in penury.

MS247:



NLC and there wahala

Let's start with 500billion palliative

300% increase in salary might cause inflation



.

Akaegwu:
Who will pay buharis own?

The Nigeria Labour Congress and the Trade Union Congress have thumbed down the N500bn palliative proposed by President Bola Tinubu, stating that it is grossly inadequate to assuage the hardships confronting workers sequel to the fuel subsidy removal.

They are demanding a 300 per cent salary increase to enable workers to cope with the challenges imposed by the deteriorating economic situation that came with the removal of the controversial fuel subsidy.


On Wednesday, the President wrote to the House of Representatives seeking approval for N500bn to cushion the effects of petrol subsidy removal.

Tinubu’s request was contained in a letter sent to the National Assembly and read during plenary by the Speaker of the House of Representatives, Tajudeen Abbas.

The President had announced the petrol subsidy removal during his inaugural address on May 29, 2023, in response to claims that the subsidy regime favoured the rich more than the average Nigerians, among other reasons.

In his letter, the President proposed an amendment to the 2022 Supplementary Appropriation Act.

It read, “I write to the House of Reps to approve the amendment of the 2022 Supplementary Appropriation Act in accordance with the attached.

“The request has become necessarily important to, among other things, the source for funds necessary to provide palliatives to mitigate the effect of the removal of fuel subsidy on Nigerians.

“Thus, the sum of N500bn only has been extracted from the 2022 Supplementary Act of N819,536,937,815 for the provision of palliative to cushion the effect of petrol subsidy removal.”

The president said he hoped the lawmakers would consider his request “expeditiously.”

The House is expected to hold a plenary today on the president’s request.

Last December, the National Assembly passed a supplementary budget of N819bn for the 2022 fiscal year and also extended the implementation of the 2022 budget till March 31, 2023.


In May, the National Assembly passed the amendment to the 2022 supplementary budget to extend the implementation of the capital components to December 2023.

But unimpressed by the amount contained in the President’s letter, the NLC noted that the money would not be enough to cater for 125 million Nigerians who are believed to be living in poverty.

The National Treasurer of the NLC, Hakeem Ambali, who spoke in an interview with our correspondent in Abuja, questioned the extent to which the palliative would cover.

When asked if the amount would be sufficient, he said, “Definitely not. We have over 125m Nigerians that are technically poor. To what extent can this cushion the effects of this economic hardship?”

Speaking on ways by which the President can mitigate the effect of subsidy removal, the NLC official asked for “Minimum wage review of 300 per cent to all workers; granting licences to individuals for modular refineries to refine petrol locally; granting economic stimulus loan to SMEs at 15 per cent rate.’’

He added, ‘’The government should provide social benefits for aged and unemployed youths; agric loans to farmers and youths through the Agric Bank and community banks at single digit rate; provide alternative energy supply such as massive investment in solar power and Compressed Natural Gas to motorists.

“Fix the refineries; reverse the privatization of electricity back to the state due to poor performance; Execute metro rail line projects in all state capitals and reduction of school fees for students of tertiary institutions.”

NACCIMA, LCCI react

Speaking with The PUNCH, the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, Olusola Obadimu, welcomed the idea of palliatives for the poor, but he questioned how the N500bn for the palliative measures would be spent.

According to him, the chamber will refrain from making further comments on the matter until clarification is given on how the fund would be utilised.

He said, “The idea, in principle, is good. Of course, people expect some relief. It is in the statement that we issued. We said it clearly that palliatives would be a good idea. We argued for it. But talking about a specific figure is something we can’t do when we don’t know the scope. The concept is fine, but we need more information about the scope.”

On his part, the Deputy-President of the Lagos Chamber of Commerce and Industry, Gabriel Idahosa, while commending the move, said the fund would be insufficient to cushion the impact of the subsidy removal and the devaluation of the naira.

He further stated that the media and other interest groups must sustain the advocacy to ensure that the palliative measures are extended to the public and private sectors.

Idahosa said, “Whatever the president implements will not be sufficient to wipe out the impact of the two policies — subsidy removal and floating of the currency. So, it is going to be a partial effort to reduce, not eliminate the effect of those policies.


“There is a basis to complain if the details come out and only the public (sector) gets to benefit from it, then everybody in the private sector has a reason to complain. We have to wait and see how the first set of palliatives will be designed, then we can complain legitimately if the private sector is not involved.”

The President of the Nigerian Economic Summit Group, Mr Laoye Jaiyeola, said his group supported the palliative measure but stressed that it should be extended to those who really needed it.

He stated, “The clarity is that all of us are saying we must have palliative for the people affected. So if you are asking for palliative and the president cannot spend one naira without approval; so, where can he get it if he doesn’t borrow it?

‘’Everyone said there must be palliative for the subsidy removal and the palliative means that government must address the shock of the people. You know you cannot spend without approval and you also know that we are in deficit before; so, which other way can he get money if not borrow? So, he is following what the procedure says is legal.

“We support palliatives but it should go to the ultimate consumer and not those who sit in one place and are spending money. Identify the people that were affected the most and give them the palliative.”

helinues:
Why is a litter of fuel is now N550 ? Where do you think the below N300 price come from if not from subsidy. So if you stopped paying it, won't you save the money?

helinues:
Sorry the era of fuel subsidy is gone. First month, we saved N400bn, times that by 12 months.

Even as Nigerians are buying fuel @ N550 with the subsidy removed, make enquiry about countries that are paying subsidy for fuel and compare the rate of 1 litre to Nigeria's own.

If all the major candidates in the last election promised to remove subsidy, which you must have supported your principal about, why are you against it this time? Abi you think there won't be consequences for removing the fuel subsidy?

Chibuzoripob:
what’s there to merry about? I like serious people

helinues:
To start paying fuel subsidy that have been removed already?

jesmond3945:
tinubu just opened up to Nigerians the damage buhari caused the economy.

blowjohn:
Ur Brain has been subsidised

majesticguy:
It's best you do your NYSC to avoid stories that touch. If you graduated above 30+ years of age, try and get the exemption certificate from NYSC.

It's better to have it and not need it than to need it and not have it.

tiger28:
ONLY an Illiterate will post this rubbish....

Do you UNDERSTAND Subsidy removal

Do you understand the IMPACT of subsidy to Nigeria's annual Budget?

Did ANY past leader have ANY Balls to remove subsidy??

Illiterates!

WesternPanzer:
You people are so useless in Nigeria. Very very useless human beings that are just wasting our precious God-given oxygen that should be breathed by sensible people. For Reals.

With this kind of Animal thought pattern you displayed, which reasonable investor will put money in Nigeria knowing it will implode at anytime?

So if I didnt support your party, I cannot benefit from the largese of my nation? Are you mad boy?

Rolings:
By introducing reforms that saw creation of state government aparatus like LASTMA LAWMA SRS...KAI BRIGADE. ....etc...which are a kind of paramilitary units.....SRS is a template for state police.
The reason why Amotekun (state police ) took off almost immediately in the south west is because there a DAWN (development agenda of western Nigeria ) commission that has already designed a template for securing the region....that template was used to establish Amotekun in yorubaland

Kemadealadire:
Then, you return your wife back to the state you took her from them😏

Rolings:
Don't jump the gun
There will be restructuring.....he has demonstrated his commitment to that in Lagos.
Bonus
There will also be state creation....take it to the bank

Maverick singer, Charles Oputa, aka Charly Boy, has warned the Labour Party, LP, presidential candidate, Peter Obi, against conceding defeat to President Bola Tinubu.


DAILY POST reports that Obi and the Labour Party are currently in court challenging the victory of President Tinubu.

However, Charly Boy has said even if the LP candidate decided to drop his petitions at the Presidential Election Tribunal against President Tinubu, he and other supporters of the LP would not agree to such an arrangement.


According to him, Nigeria must be better “by fire by force.”

He insinuated that the country was long overdue for a revolution.

He said should the judiciary failed, Obi supporters would explore other options.

In a tweet on Tuesday evening, Charly Boy said, “U know smtin? Even if Peter Okwute Obi come tell us say make we move on from the 2023 yeye selection wey Yakubu mess up, Obidients no go gree sam sam.


“I Dey tell many people say, wetin wan happen wey don overdue to happen for Nigeria pass Peter Obi.

“Naija must be better by fire by force, Obidients/ Lovers of a New Nigeria take note.

“All our eyes dey for Judiciary. If dem like make dem F*k up, we know what to do.”

helinues:
I hope you can read and comprehend.

The few miscreants that was killed like a week ago, we have been reading something like ethnic cleansing. So what exactly do you people want?

plaindealer:
All of a sudden you people have zero constitutional rights to talk or condemn terrorists slaughtering and terrorizing people in the SE, but you and Oby have all the constitutional rights in the world to shout, mean, cry and lament endlessly over similar issues in other parts of Nigeria?

How hard is it for your leaders to condemn terrorism?

You all cannot because you are all terrorist lovers and sympathizers

helinues:
Yeah he swore to protect all Nigerians but SE could be somehow excluded from such Nigerians.

Wondering why? Why should FG interfere in the happenings in SE when the likes of Ipob, ESN and UGM are saying they don't want any security officers in any part of SE..

I believe that statement was made just because they can protect SE territory, so count FG out of this