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Subsidy: Tinubu Tackles Hardship With N500bn Palliatives, Rolls Out 3000 20-seater Compressed Natural Gas Buses

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President Bola Tinubu has unveiled measures to cushion the effects of the economic downturn, caused by fuel subsidy removal, in the country, telling Nigerians he understood the hardship and came to help, not to hurt them.

The President approved N100 billion for the procurement of 3000 20-seater buses fueled by Compressed Natural Gas, CNG, to ease the high cost of transportation caused by fuel subsidy removal.

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In a 41-point, 1794-word national broadcast on the current economic challenges, yesterday, Tinubu assured Nigerians that things would get better soon.

Titled: “After Darkness Comes the Glorious Dawn,” Tinubu in the broadcast said to reform the economy for long-term good, fuel subsidy and multiple exchange rates had to go.

READ ALSO: Subsidy Removal: Nigeria On Brink Of Collapse — Catholic Bishops

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Tinubu, who disclosed that Nigeria had saved N1 trillion from subsidy removal in two months, however, said “We are also monitoring the effects of the exchange rate and inflation on gasoline prices. If and when necessary, we will intervene.”

3000 CNG buses

He said: “Part of our programme is to roll out buses across the states and local governments for mass transit at a much more affordable rate. We have made provision to invest N100 billion between now and March 2024 to acquire 3000 units of 20-seater CNG-fuelled buses.

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“These buses will be shared with major transportation companies in the states, using the intensity of travel per capita. Participating transport companies will be able to access credit under this facility at 9% per annum with 60 months repayment period.

READ ALSO: Delta Commences Recruitment Of Pry Sch Teachers, Clerical Officers, Others In 22 LGAs

“In the same vein, we are also working in collaboration with the Labour unions to introduce a new national minimum wage for workers. I want to tell our workers this: your salary review is coming.

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“Once we agree on the new minimum wage and general upward review, we will make budget provision for it for immediate implementation.”

 

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FG Security Agency, Nigerian Army Move To Tackle Illicit Small Arms, Light Weapons

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The National Centre for the Control of Small Arms and Light Weapons (NCCSALW), Northeast Zonal Centre, under the Office of the National Security Adviser to the President has partnered with the Nigerian Army to fight the menace of the proliferation of illicit small arms and light weapons in the country.

Speaking during a courtesy visit to Brig.-Gen. U.V Unachukwu, the General Officer Commanding (GOC) 7 Division, Nigerian Army Headquarters in Maiduguri on Wednesday, Maj-:Gen Abubakar Adamu (Rtd), the Northeast Zonal Coordinator, NCCSALW Northeast Zonal Centre, said the collaboration was necessary in mopping up Small Arms and Light Weapons (SALW) in the Zone.

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While stating the negative impact the proliferation of illicit SALW has on peaceful coexistence in the nation and its socio-economic activities, Adamu pledged the Centre’s continuous cooperation with the Division especially in intelligence sharing which he said, was paramount in preventing the proliferation of this SALW in the country.

READ ALSO: FG Predicts Heavy Rainfall, Flood In Seven States

“One of our responsibilities is to prevent the proliferation of small Arms and Light Weapons and to also enlighten the people. We are a multi agency department and we have the police, the DSS, and also retired military officers as well as serving military officers.

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“We have been empowered to receive all illicit small arms and light weapons that have been retrieved from all the agencies and we are the people responsible to destroy them

“We are also the only organization empowered to prosecute gun runners and all the people that have been arrested in terms of dealing with small arms and light weapons.

“What we are doing is to visit major stakeholders and to also share intelligence, information and to collaborate because we know without the armed forces, there is no way we can eradicate the proliferation of small Arms and Light Weapons,” he said.

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READ ALSO: FG Predicts Heavy Rainfall, Flood In Seven States

He further commended the Nigerian Army for always being at the forefront in ensuring that country is safe for all to live in, promising to strengthen the partnership in order to further make the country a better place for all to live.

Responding, Brig.-Gen. U.V Unachukwu promised the Division’s support to the Zonal Centre so as to achieve its mandate while recalling the pass records of the Zonal Director as a result-oriented senior officer.

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He also commended the Centre for working hand in hand with all the security agencies, traditional rulers and key stakeholders, adding that this would go a long way in mopping up and tackling the proliferation of illicit Small Arms and Light Weapons in the country.

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Arrears: AAU Management Replies ASUU Over

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The management of Ambrose Alli University Ekpoma has responded to a recent publication by the Academic Staff Union of Universities (ASUU), AAU Chapter, alleging that the Acting Vice-Chancellor, Professor Sunday Olowo Samuel, claimed to have cleared all staff arrears.

A statement issued by Otunba Mike Aladenika, Principal Assistant Registrar and Head of Information, Protocol, and Public Relations, described the claim by ASUU as far from the truth.

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Aladenika said the Acting Vice-Chancellor’s 31-paragraph address to journalists did not state that all outstanding salary arrears had been paid.

He noted that instead, the VC emphasized the administration’s commitment to gradual liquidation of these arrears.

READ ALSO: AAU Acting VC Meets With Journalists, Rolls Out Achievements

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According to the imagemaker of the university, the Vice-Chancellor, in his speech, rather highlighted prompt payment of salaries and pensions as a hallmark of his administration, and noted that the university had implemented the new minimum wage of N70,000 as soon as it was approved.

Aladenika questioned where ASUU got their information from, given the Acting Vice-Chancellor’s clear statements.

“It’s worth noting that when the current administration took over, ASUU members were owed over 35 months in arrears.

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“However, the debt has since been reduced as those owed 35 months and above were paid 10 months emblock in the 1st tranch, while in the 2nd tranch, those owe 20-months and above were also paid 10 months salary arrears, emblock. Apart from individuals among them who got paid on personal requests, the payment of the backlogs is still ongoing as various applications on salary arrears are been attended to, demonstrating the management’s commitment to gradual payment.

READ ALSO: Okpebholo Approves Construction Of 500-room Hostel For AAU

“On the issue of the 13th month salary, it’s essential to clarify that this has never been a right, but rather a subject of tripartite negotiations between workers, management, and the state government. There has been no prior agreement or understanding on this matter, and it has always been a point of negotiation for our unions.

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“It’s worth noting that the university has never paid 13 months’ salary in a 12-month financial year. However, this doesn’t mean that the management is opposed to negotiations on the matter. Rather, we believe that it’s essential to approach such discussions in a constructive manner, rather than using it as a bargaining chip for blackmail.

“The management is open to negotiations, but we urge all parties to engage in good faith and avoid misrepresentations.”

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US Court Sentences Osun Monarch To Prison Over $4.2m Fraud

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A United States District Court has sentenced the Apetu of Ipetumodu in Osun State, Oba Joseph Oloyede, to four years and eight months imprisonment over a $4.2million COVID-19 relief fraud scandal.

Justice Christopher Boyko while delivering the sentence on Tuesday, also ordered the monarch to pay $4.2 million in restitution.

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According Osun Defender, the monarch was also ordered to pay the sum of $195,000 to the IRS for filing a false tax return.

Justice Boyko also ordered Oloyede to forfeit $96,000 in money seized from his bank account and his home on Foote Road that he bought in 2021 for $130,000.

READ ALSO: US court Jails Five Nigerians 159 Years For $17m Fraud

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Boyko said Oloyede was a “very smart guy who did a lot of stupid things.”

Oba Oloyede, a US-based accountant and information system expert, was appointed the new Apetu in July 2019.

The monarch was arrested alongside alongside Nigerian pastor, Edward Oluwasanmi in early 2024 for their roles in a scheme to fraudulently obtain $4.2m in COVID-19 relief funds.

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The two men were charged with 13 counts of conspiracy to commit wire fraud, wire fraud, conspiracy to defraud, money laundering, and engaging in monetary transactions in criminally derived property.

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