Expect A Decision On Petrol Subsidy In June, NEC Tells Nigerians

The National Economic Council (NEC) has said any decision on the removal of petrol subsidy will be taken in June when the provision for its payment in the 2022 budget expires.

The NEC said the Nigerian National Petroleum Corporation (NNPC) Limited must be run differently since it is now an limited liability company.

Abdulsalami: Petrol price increase will push more Nigerians into poverty

Fuel price may rise in weeks as NEC recommends N302 per litre

The Governor of Nasarawa State, Abdulahi Sule, provided the information Thursday, while responding to questions from State House correspondents on the outcome of the meeting presided over by Vice President Yemi Osinbajo at the Presidential Villa, Abuja.

He said it was understandable that the provision for the payment of the subsidy is made in the 2022 budget only until June.

Governor Sule, who was joined at the post-NEC press briefing by his Edo state counterpart, Godwin Obaseki, said the National Economic Council was yet to take a position on it despite its series of deliberations on the matter.

Obaseki, while reacting to questions, said Premium Motor Spirit (PMS), which sells for N162-165 per liter in Nigeria, sells a hundred percent higher in other countries.

He said the federal government was spending about N2 trillion on petroleum subsidy, an amount, he said could have been used for other purposes.

According to him, the NEC, therefore, wondered whether that should be allowed to continue in a situation where he observed only two thirds of the states of the federation consume the subsidy.

Comments

THE SOKOTO CALIPHATE

In the 19th Century the fula peoples led a series of jihads across sudanic Africa. In Northern Nigeria and the central Sudan, Usuman dan Fodio led the Fula in a bid to overthrow the Hausa Sultanates. By 1803, a new state known as the Sokoto Caliphate had replaced most of the former sultanates that had held sway over the region. The Sokoto Caliphate was under the overall authority of the Commander of the Faithful. Under Dan Fodio, the Empire was bicephalous and divided into two territories each controlled by an appointed vizier. Each of the territories was further divided into autonomous Emirates under mainly hereditary local Emirs. The Bornu Empire was initially absorbed into the Sokoto Caliphate of Usman dan Fodio, but broke away after a few years later. The caliphate arose after the Hausa KingYunfa attempted to assassinate Usman dan Fodio in 1802. In order to escape persecution, Usman and his followers migrated towards Gudu in February 1804. Usman's followers pledged allegiance...

NATURE OF LEARNING

Learning occupies a very important place in our life. Most of what we do or do not is influenced by what we learn and how we learn. Learning, therefore, provides a key to the structure of our personality and behavior. An individual starts learning immediately after his birth or in a strict sense even earlier in the womb of the mother. Experience direct or indirect is found to play a dominant role in moulding and shaping the behavior of the individual from the very beginning. When he touches a burning matchstick the child gets burnt, and next time, when he comes across the burning matchstick, he loses no time in withdrawing from it. He learns to avoid not only the burning matchstick but also all burning things. When this happens we say that the child has learned that if one touches a flame, one gets burnt. However, this term has not always been interpreted in the Same way by the numerous thinkers and psychologists as may be seen from the following definitions: Gardner...

Turkey Earthquake

A man trapped under earthquake rubble for more than 100 hours in Turkey recited the last two verses of Surah al-Baqarah from the Quran as rescuers worked to free him 🕊 Click here

Fact with Mustapha Bello

Search This Blog