🙃 Fuel subsidy: a political strategy
This is a day late because of traffic on the Lagos-Ibadan Expressway. Blame the government who promised to be done with their construction months ago. I hate it here. Someone write them a strongly worded letter and sign my name.
In this edition
Buhari tells us why he delayed petrol subsidy
Nigeria’s public debt
FG’s new billings for citizens
Kano demolishes “illegal buildings”
Akwa Ibom introduces education fund for disabled students
But first
Canada has introduced a new program to attract tech talent from countries like Nigeria. They want highly skilled individuals to come and work for tech companies in Canada, even if they don't have a job offer. They are also launching a program for digital nomads to work in Canada for up to six months. Read more here
Buhari’s impact
Fuel subsidy: a political strategy
Buhari revealed that he only delayed the petrol subsidy removal so that Bola Tinubu would win the presidential election.
The president was aware of the economic implications of removing the subsidy without any support plans in place and so he held off and let the new president carry on with the terrible planning. I guess good foresight.
Nigeria’s new debit total
The Debt Management Office (DMO) of Nigeria announced that as of March, the country's total public debt was N49.95 trillion ($108.30 billion) – Vanguard
The debt increased by about three trillion Naira since the previous period in December 2022.
However, the debt does not include the FG's N22.719 trillion Ways and Means Advances from the Central Bank of Nigeria, which will be added to the debt in June.
FG’s new billing
Last month, the Federal Government promised to increase the price of electricity, this month, they have added a Proof of Ownership Certificate fee to the list of new costs for Nigerians to pay.
The FG’s new fee is for motorists. If you have a car, you now have to pay N1,000 each year for a Proof of Ownership Certificate, from July.
This certificate is supposed to help vehicle owners and the government ensure that all registered vehicles are legitimate and can help track stolen cars.
It contains important information about the vehicle, such as its registration details and the owner's name and address.
The government believes that this certificate will promote transparency, security, and accountability in the transportation network.
But good news? IPMAN has denied the alleged plan by the association to increase the petrol price to N700 per litre nationwide
State Governments
Kano government displaces residents
Residents of Salanta Quarters in Kano are accusing the state government of demolishing their buildings without warning or compensation.
The residents claim that they followed the proper procedures and acquired the land legally from the previous government.
The government alleged that the buildings were constructed on land owned by the Kano State Polytechnic. The government previously stated its intention to reclaim government properties that were sold by the previous administration.
In response, Abba Yusuf, the governor of Kano, stated that he has “no regrets” about ordering the demolition of the buildings.
Yusuf said that since taking office, he demolished multiple structures that he deemed "illegally" built and approved by the previous administration.
Akwa Ibom education fund for disabled students
Governor Umo Eno of Akwa Ibom State has set up a fund of N100 million to help disabled indigenous students and other disabled students who are studying in public colleges and universities in the state. - Channels
The purpose of the fund is to support and promote inclusion in education. The government will pay their fees and give an allowance.
The governor said that the Office of Accountant General, Secretary to the State Government, the Ministry of Education and the Ministry of Women Affairs and Social Welfare will all supervise the fund’s disbursement and implementation of this initiative.
Operators and officials face sanctions over the death of 3 medical students
In Calabar, Cross River State, a boat carrying 13 medical students capsized during a cruise, resulting in the death of three students.
The students were participating in their annual health week activities and were scheduled to visit various tourist sites.
The boat's engine shut off during the journey, causing water to enter rapidly and leading to the sinking of the boat.
The Nigerian Medical Students' Association blamed the operators of the Marina Resort for negligence and incompetence.
The state government has ordered an investigation and promised to punish any officials found responsible.
The National Inland Waterways Authority has arrested the boat operators for overcrowding and engine malfunctioning.
Other news
The Central Bank of Nigeria (CBN) has limited the daily cumulative transaction limit to ₦50,000 and the single transaction limit to ₦15,000 contactless payments made through bank accounts or digital wallets - New Telegraph.
Police authorities in Edo State have disclosed that they have arrested the Command’s team of operatives who ran a Toyota Sienna patrol vehicle over a handcuffed man - Guardian.