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President Tinubu Contemplates ‘Temporary Subsidy’ on Petrol Amid Economic Struggles”

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President Bola Ahmad Tinubu

President Bola Tinubu is considering a “temporary subsidy” on petrol as crude oil prices and foreign exchange rates continue to soar, TheCable understands.

There is yet no final decision, presidency sources told The Cable, but the proposal is “firmly on the table” as Nigerians continue to groan under harsh economic realities following the removal of petrol subsidy in May 2023.

Already, labour unions have threatened to embark on an indefinite strike if the petrol price further surges.

The Kenyan government, on Monday, re-introduced fuel subsidies to curb soaring prices of petrol, kerosene, and diesel in the country.

The move came after months of violent anti-government protests over the burden of high cost of living.

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According to a presidency official, the “realistic” amount of petrol consumed in the country is now known following the removal of subsidy on Tinubu’s inauguration, hence the amount spent on subsidy “can now be controlled”.

On Monday, the Nigerian National Petroleum Company (NNPC) Limited said there are no plans to hike pump prices despite the rise in crude oil prices, landing cost, and fall in the value of the naira.

This is understood to be an option for Tinubu to keep the current prices, although private importers have not made a definite pronouncement on any possible adjustments.

But speculations around another increase in the pump price of petrol (currently at over N600) have caused tensions across the country, leading to panic buying in the early hours of Tuesday.

Since Tinubu announced the removal of the petrol subsidy, Nigerians have had no respite from price hikes.

Foreign exchange challenges, coupled with the unrestrained slump of the naira — Nigeria’s local currency — have led to a sustained upward trend, in the prices of goods and services.

On Monday, TheCable reported that the Central Bank of Nigeria (CBN) plans to implement new measures to stabilise the naira against the dollar.

Weeks after Tinubu was inaugurated as Nigeria’s elected president, his administration — already fraught with legitimacy issues — quickly introduced several policies in a bid to revive the economy.

But with the current economic realities, it appears that these policies are not yet yielding the expected results.

The Cable

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President Tinubu Promotes Acting Chief Of Army staff To Lieutenant General

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President Bola Tinubu has officially promoted Olufemi Oluyede, the acting Chief of Army Staff (COAS), to the rank of Lieutenant General.

This announcement, confirmed by sources at the Presidential Villa on Tuesday, has sparked speculation regarding a potential future appointment as the permanent head of the army.

Oluyede, who was previously a Major General, stepped into the role of acting army chief following the illness of former Army Chief Taoreed Lagbaja.

NIGERIAN TRACKER learned that since the return to civilian rule in 1999, the tradition is that the Chief of Army Staff wears the rank of a three-star general, while the Chief of Defence Staff wears the rank of a four-star general from whichever section of the armed forces he comes from.

The second Army General to wear the rank of a four-star General who did not also serve as Head of State was General Alexander Ogomudia in 2003 when he was promoted by Former President Olusegun Obasanjo.

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Sultan of Sokoto Urges Nigerians to Stop Criticizing Leaders and Allow God to Deal With Them

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Sultan Muhammad Saad Abubakar

 

Nigerians have been urged to desist from castigating their leaders and all those in authority.

This call was made to Nigerians by the Sultan of Sokoto, Alhaji Sa’ad Abubakar III on Monday at the the Regional Conference on Climate Change-Induced Conflicts in Northern Nigeria hosted in Kaduna.

According to the Sultan, it is important that Nigerians rather than insult their leaders, they should allow God to really with them.

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He also urgee Nigerians to contibue praying for their keaders and tne nation as a whole.

He further called on religious leadera accros Nigeria to quit misleadinh members of ghwir congregation.

“A lot of people say we have never had it so bad, but no matter how difficult it is, ease will come. We believe nothing lasts forever.

“Nothing bad and nothing good lasts forever. Let us intensify prayers in our congregations and encourage our followers to pray for our leaders.

“We will not castigate them; we will allow Almighty Allah to deal with them as He wishes and He will,” the Sultan notes.

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Arewa APC Merger Group Hails President Tinubu for Release of Detained minors

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The Arewa APC Merger Group has thanked President Bola Tinubu for his swift and compassionate response in ordering the release of detained minors involved in the #EndBadGovernance protests.

In a statement signed by National Coordinator Hon. Musa Mujahid Zaitawa in Abuja, the group expressed gratitude for the President’s decisive action, which has brought renewed hope to many Nigerians.

The group commended President Tinubu for showing strong leadership on the issue, noting that his actions demonstrate a commitment to justice and the well-being of Nigeria’s youth.

They emphasized that this move reassures citizens of the President’s dedication to fairness and the protection of human rights under his administration.

The release order from President Tinubu came after the Arewa APC Merger Group took substantial steps to advocate for the detained children.

In response to reports of mistreatment, including allegations of malnutrition and poor conditions, the group provided essential food and support to the minors both at the Federal High Court in Abuja and while in custody.

This effort underscored the group’s commitment to the welfare of young Nigerians and their resolve to seek justice.

Hon. Musa Mujahid Zaitawa stated that the group is encouraged by the President’s response and considers it a positive signal of his administration’s commitment to addressing national issues with compassion and responsibility.

The Arewa APC Merger Group remains hopeful that this action will set a precedent for prioritizing the rights and well-being of Nigeria’s youth across the country.

President Tinubu’s decision to release the children reflects his administration’s acknowledgment of the calls from various stakeholders to uphold justice and safeguard the future of young Nigerians.

The Arewa APC Merger Group expressed their appreciation for this significant step, which they believe will strengthen public confidence in the government’s dedication to the rights of all citizens.

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