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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.

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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Dangote Cement places premium on Community engagement, sustainability in Host communities

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Alhaji Aliko Dangote

Dangote Cement Plc, is prioritizing  community engagement, empowerment, and environmental stewardship to sustain its upward trajectory,

The cement manufacturing firm said it believed that true progress is measured not only by economic prosperity but also by the holistic development of all stakeholders.

The Plant Director of Dangote Cement Plc Obajana, Mr. Azad Nawabuddin, who disclosed this during a media chat in Obajana, said that the relationship between Dangote Cement and its host communities and other stakeholders transcends transactional exchanges as it is built on a foundation of trust, mutual respect, and shared aspirations.

“The communities in which we operate are not just beneficiaries; they are our partners in progress,” he affirmed.

While reaffirming the company’s commitment to its host communities, Nawabuddin, who recently moved from the Ibese plant, emphasized that the company would collaborate with key stakeholders in Obajana to implement impactful projects.

He said crucial to the vision is the empowerment of residents through skills development and capacity-building initiatives. “We recognize the importance of equipping community members with the requisite skills to thrive in today’s competitive landscape,” Nawabuddin asserted.

The Dangote Cement boss said this will enhance employability and foster entrepreneurship among youth and women in the host communities.

With a steadfast commitment to corporate social responsibility (CSR) and sustainable development, Nawabuddin outlined initiatives to strengthen the bond between Dangote Cement and the communities. He emphasized that the company views its host communities as partners.

“In terms of community engagement, we will hold meetings to explore avenues for supporting them, including opportunities for businesses and contracts. The communities are integral partners for us. Through dialogue with them, we aim to execute significant projects that will bring them lasting benefits,” he stated.

Nawabuddin also stressed the importance of environmental stewardship and sustainable practices in Dangote Cement’s operations. “We are custodians of the environment, and it is our duty to ensure that our activities leave a positive impact on the ecosystem,” he added.

Nawabuddin explained that in addition to socio-economic development is the importance of addressing security concerns in the host communities. He said through collaborative efforts with law enforcement agencies and community-based initiatives, security risks will be mitigated, and the well-being of residents will be upheld.

“We are working closely with local authorities and community leaders to enhance security measures and create a safe and conducive environment for all,” he added.

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Kano-Kaduna-Abuja Passengers Spent Night In Kaduna Due to Traffic Jam

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Some passengers traveling from Abuja to Kano found themselves stranded in Gwanin Gora town, Kaduna State, due to a traffic jam.

An eyewitness and passenger, Dr. Lado Bala, informed NIGERIAN TRACKER that they had been stranded since 3 AM with no indication of movement.

Regarding the cause of the traffic jam, Dr. Bala mentioned that it may be attributed to an unknown accident that occurred further down the road.

As of the time of reporting, no security agency had responded to clear the jam.

The Kano-Abuja-Kaduna Express is a major Nigerian road that links Northern and Southern Nigeria.

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Nigeria Tracker Congratulates Sarkin Bai Mansur Mukhtar On Wedding of His Daughter Amina

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The wedding ceremony

 

The management of Nigeria Tracker Communications, publishers of Nigerian Tracker online newspaper, has extended its congratulatory message to the family of Nigeria’s former Minister of Finance and Vice President of the Islamic Development Bank ,Dr Mansur Mukhtar on the wedding of his daughter, Amina Mansur Mukhtar.

This was contained in a statement signed by the Editor-in-Chief and CEO of the leading online newspaper, Abbas Yushau Yusuf.

The wedding fatiha and solemnization which took place in Jeddah, Saudi Arabia, had in attendance family, friends, and well-wishers, with a dowry of $1000.

On behalf of the board of directors of Nigeria Tracker Communications, we wish the couple a happy married life and Allah’s blessings, and success to the entire Sarkin Bai of Kano’s family, Dr. Mansur Mukhtar.

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