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The President , Major General Muhammadu Buhari (retd . ) , says it will be “ grossly irresponsible” to borrow to subsidise electricity tariff amid the economic crunch caused by the lockdown occasioned by the COVID- 19 pandemic .

He also said no provision was made for fuel subsidy in the Revised 2020 Budget , noting that about N1 . 7 trn has been spent on tariff shortfalls to support the electricity sector since its privatisation .

The increases in fuel price and electricity tariff have sparked outrage of late with the Trade Union Congress and 79 other civil society organisations and labour unions set to hold nationwide protests this week.

The President , who spoke during his second – term First Year Ministerial Performance Review Retreat in Abuja, noted that under the new arrangement , only customers who get electricity for 12 hours and above per day would have their tariff increased .

Buhari had won his re- election in 2019 after defeating the opposition Peoples Democratic Party ’ s candidate , Atiku Abubakar , with about four million votes in the February 23 poll.

He had on August 21 , 2019 , constituted his second – term cabinet and had in August 2020 while marking one year since the inauguration of the cabinet listed 35 policies, programmes and projects as his second – term achievements.

The First Year Ministerial Performance Review Retreat focuses on examining the performance of the ministers and other officials in the President ’ s cabinet .

Buhari , who is attending the 57 th Ordinary Session of the Economic Community of West African States Authority of Heads of State and Government in Niger , was represented at the retreat by Vice President Yemi Osinbajo.

The PUNCH had earlier reported that some loans obtained by the Federal Government have been the subject of controversy of late .

Speaking, the President said the government revenue had shrunk by 60 per cent due to the COVID- 19 pandemic but the government was not considering borrowing to fund subsidy for electricity and petrol .

He said , “ The COVID – 19 has led to a severe downturn in the funds available to finance our budget and has severely hampered our capacity . One of the steps we took at the beginning of the crisis in March when oil prices collapsed at the height of the global lockdown was the deregulation of the price of premium motor spirit such that the benefit of the lower prices at the time was passed on to consumers .

“ The effect of the deregulation is that pump prices of petrol will change with the changes in global oil prices . This means quite regrettably that as oil prices go higher , we could see some increases in pump price. This is what has happened now when global prices rose, it meant that the prices of petrol locally will also go up .

“ There are several negative consequences if the government should go back to the business of fixing or subsidising petroleum or PMS prices .

“ First of all, it will mean a return to the costly subsidy regime . Today , as we ’ ve heard , we have 60 per cent less revenue . We simply cannot afford the cost.

“ The second danger is the potential return of fuel queues which has thankfully become a thing of the past. Nigerians no longer have to endure long queues just to buy petrol often at highly inflated prices .

“ Also , there is no provision for fuel subsidy in the Revised 2020 Budget simply because we are not able to afford such a cost.

“ If reasonable provision must be made for health , education , and other social services , we simply cannot sustain petroleum subsidies. ”

Furthermore, the President said , “The recent service – based tariff adjustment by the discos has also been a source of concern to many of us . Let me say frankly like many Nigerians , I have been very unhappy with the service by many of the discos . But there are many constraints including poor transmission and distribution capacities . I ’ ve already signed off the first phase of the Siemens Project to address many of these issues.

“ Because of the problems of the privatisation exercise , the government has had to keep supporting the largely privatised electricity industry . So far , to keep the industry going , we have spent close to N1 . 7 trn especially by way of supplementing tariff shortfalls . We simply do not have the resources at this time to continue in this way . And it will be grossly irresponsible to borrow to subsidise generation and distribution which are both privatised . ”

The General Overseer of the Redeemed Christian Church of God , Pastor Enoch Adeboye , has said that people who are above 70 years needed to check their salvation if they were still afraid of death.

Adeboye said this at the first Sunday Thanksgiving of the RCCG new year calendar, held at the headquarters in Lagos .

“ Because of the COVID- 19 pandemic , old people were advised to stay at home and not come to church which is good advice .

“ But if you are over 70 years of age and you are still afraid of death, then you should check your salvation, ” he said .
Adeboye added that the God would turn down coronavirus , adding that no virus would come near the children of God .

“ God will give us total victory on any virus . The Lord who has kept us to see September will keep us to see the new year , ” he prayed .

“ When we remember some people we grew up with are dead , some are in prison, sick , and we are still alive , then we should have reasons to praise the Lord .

The Federal Government says it spent N30 . 5 billion on efforts to curtail COVID- 19 between April and July this year .

The Accountant General of the Federation , Ahmed Idris, who disclosed this , said the amount represented 84 per cent of the N36 . 3 bn public funds and donations received by the Federal Government to tackle the pandemic.
He said there was a balance of N5 . 9 billion .

Idris said this in response to a Freedom of Information request jointly made by Socio- Economic Rights and Accountability Project; and Connected Development .

SERAP’ s Deputy Director , Kolawole Oludare , said in a statement that Idris , in his undated response , also indicated that “ the Presidential Task Force on COVID- 19 spent N22 billion ; while 36 states spent N7 billion on COVID- 19 . ”

Idris , according to the statement , added that the Nigerian Air Force spent N877 million on the deployment of assets in support of COVID- 19 operations ; the police spent N500 million on personal protective equipment ; while N17 , 865 . 09 was paid as bank charges .

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The Africa Cup of Nations trophy retained has reportedly been “ stolen ” from the Egyptian Football Association headquarters in Cairo .
The Egyptian Football Federation confirmed to Goal that the trophy won by the Pharaohs three times in a row has been lost .

Ex- Egyptian Football Association vice -president Ahmed Shobeir earlier revealed that the trophy was discovered missing during preparations to build a museum to house all of the silverware won by the North African nation.

“ Officials of the committee which meets every five years and currently manages the Football Association were surprised that the trophy was not available , in light of their desire to create a museum at the federation headquarters , which would feature the trophy and the national team’ s kits , ” Shobeir said on the ‘ On Time Sports ’ TV show.

“ However , [ they ] were surprised to find that the Afcon trophy was lost , and decided to open an investigation . ”

It was initially claimed that former captain Ahmed Hassan – who skippered the team to success at the biennial tournament in 2006 , 2008 , and 2010 – was in possession of the trophy, although he subsequently denied the claim .

“ The committee searched for the trophy, but then an employee told them that Ahmed Hassan , the former captain of the Egyptian national team, who won the cup three times in a row , has kept it, ” Shobeir added .

Later , ex – Egypt midfielder Abdelghani clarified in a press conference that the trophy had been lost in a fire seven years ago .

“ After the burning of the Football Association headquarters , some cups were lost , and the matter was investigated , ” the former FA member began , “ including the Africa Cup of Nations that we retained .

“ Some said that the cup had been with Shawky Gharib , the former general coach of the Egypt national team, and some say it had been with Hassan , the former captain of the Pharaohs. ”

“ I wish I had kept the cup in my house instead of it being lost , ” he posted on his @ AhmedHassan Twitter handle , “ and I am surprised that I ’ m being questioned about the cup after nine years , despite the presence of two FA boards , and the five- year committee for a year and two months… but they’ re only now looking for the cup !

“ One of the members of the five- year committee contacted me and told me that they would put a picture of me with the African Nations Cup on the wall inside the federation, ” Hassan continued, “and he asked me about the cup .

“ I told him that I had delivered it back in 2011 , and he said to me: ‘ I wish you had not handed it over , as the cup is not at the association now. ‘”

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The Independent Petroleum Marketers Association of Nigeria , Enugu depot , has warned that petrol may cost more in the South – East .

Anyaso said that petrol might be sold for N170 in the South- East because of the cost of delivering the products at the stations in the zone .
Anyaso said that the depot had been lying moribund since 2005 .

He was reacting to the increase in the pump price of petrol and the challenges faced by marketers in the zone .

He said the depot was strategic to the national economy , adding that it was serving Anambra , Ebonyi, Enugu , parts of Imo , Abia , Cross River and North – Central , including Benue State .

The IPMAN chief described the cost of transporting products from Lagos , Warri , Benin , Calabar and other locations as huge .

According to him , marketers do not get their equalisation fund as and when due .

He said that marketers in the zone were incurring huge losses due to incessant road crashes and spill involving their trucks as a result of the poor state of the roads .

“ We want to use this opportunity to renew our appeal to the federal government to repair the Emene depot in Enugu so that our members can start loading products from here .

“ This depot has been shut down for over 15 years due to what they called pipeline vandalism .

“ Our members are suffering and the people of the South – East and other areas that source products from the depot are suffering .

It said this is because the Federal Government failed to reactivate the Emene depot .

The Chairman of Enugu depot of the association , Mr Chinedu Anyaso , disclosed this in an interview with newsmen in Awka.

The Nigerian Association of Resident Doctors has threatened to begin another nationwide strike starting from September 7 .

The association in a statement signed by the President , Dr Aliyu Sokomba ; Secretary , Dr Bilqis Mohammad , and the Publicity Secretary, Dr Egbogu Stanley , said the strike would commence after the 21 – day ultimatum it gave to the Federal Government elapsed on August 17 .

The doctors are demanding from the Federal Government the implementation of residency funding, COVID- 19 allowance , hazard allowance as well as the outstanding salary shortfall of 2014 , 2015 , and 2016 .

On June 15 , NARD had embarked on an indefinite strike . The strike was suspended on June 22 after the intervention on the Federal Government and other stakeholders in the health sector .

“ NEC resolved to proceed on indefinite nationwide strike action from Monday 7 th of September 2020 by 8 : 00 am until the following conditions are met ; immediate payment of the Medical Residency Training funding to all her members as approved in the revised 2020 budget ; provision of genuine Group life insurance and death in service benefits for all health workers .

“ Payment of the outstanding April/May and June COVID- 19 inducement allowance to all health workers ; determination of the revised hazard allowance for all health workers as agreed in previous meetings with relevant stakeholders ; immediate payment of the salary shortfalls of 2014 , 2015 and 2016 .

“ Doctors working under the various tertiary health institutions to be placed on appropriate salary grade level and universal implementation of the Medical Residency Training Act of 2017 in all state tertiary health institutions; payment of all arrears owed our members in Federal and states tertiary health institutions, arising from the consequential adjustment of the National minimum wage, ” the statement read in part.

Members of the Coalition for Civil Societies in Osun State protested against the hike in electricity tariff and petrol price.

The protesters took off from Freedom Park , Osogbo around 8 :30 am .

The protesters displayed placards showing their displeasure over the increase in electricity tariff and petrol price.

The protesters lamented that “ approval of new electricity tariff and increment in the pump price of petrol is the highest level of insensitivity and wickedness from President Muhammad Buhari – led All Progressives Congress government . ”

Petrol prices have increased for three straight months, rising from N121 . 50 –N123 . 50 per litre in June to N140 . 80 -N143 . 80 in July, N148 – N150 in August and N158 – N 162 in September .

The Petroleum Products Marketing Company , a subsidiary of the Nigerian National Petroleum Corporation had, on Wednesday , increased the ex -depot price of Premium Motor Spirit ( petrol ) to N 151 . 56 per litre from N138 . 62 per litre but later reduced it to N147 . 67 .
The ex – depot price is the price at which the product is sold to marketers at the depots.

This comes three months after the tariff hike implementation slated for July 1 was halted by the National Assembly , which prevailed on the distribution companies to shelve the date to the first quarter of 2021 due to the current economic challenges in Nigeria .

A document seen by news correspondent on Tuesday showed that electricity customers , except those receiving less than 12 hours of supply, would have to pay more for electricity starting from September 1 , 2020 .

The Federal Government has received samples of Russia ’ s COVID- 19 vaccine .

Russia ’ s Ambassador to Nigeria , Alexey Shebarshin , delivered the samples to the Minister of Health , Osagie Ehanire , during a visit to the ministry in Abuja.

Also present at the event were the Minister of State for Health , Olorunnimbe Mamora ; top management of the Health Ministry and other Nigerian Scientists.

This was contained in a statement signed by the ministry ’ s Director of Information , Media , and Public Relations, Olujimi Oyetomi .

The statement was titled , ‘ Russian Federation Ambassador to Nigeria , H . E . Alexey L . Shebarshin on courtesy visit to Nigeria ’ s Health Ministers , Russian – made COVID- 19 Vaccine finally here . ’

Ehanire also said the vaccine would be “ quickly referred ” to the National Agency for Food and Drug Administration and Control as well as the Nigeria Institute of Pharmaceutical Research and Development , amongst other agencies , for review and possible validation .

The minister had said Nigeria was working with the WHO for the allocation of 2 billion vaccine doses as soon as they are available.

The need for a vaccine has become more urgent globally and nationally with Nigeria recording over 50 , 000 COVID- 19 infections and over 1 , 000 associated fatalities , according to the Nigeria Centre for Disease Control .

Femi Adesina , Special Adviser on Media and Publicity to the President , Major General Muhammadu Buhari ( retd . ) , says only his principal has enough confidence to confront former President Olusegun Obasanjo and tell him his honest opinion on things “ and survive it”.

Obasanjo and Buhari have a few things in common . Obasanjo was Nigeria ’ s military head of state between February 13 , 1976 , and September 30 , 1979 . He later became a civilian President from May 29 , 1999 , to May 29 , 2007 . Buhari also ruled as military head of state from December 31 , 1983 , to August 27 , 1985 , before returning as a democratically elected leader on May 29 , 2015 .

Adesina , in a piece titled, ‘ Buhari Applause For Akinwumi Adesina ’ , compared Obasanjo to “America and some other world powers ” , adding that “ you have every right to shiver in the broiling sun ” when they come after you .

But the President ’ s spokesperson , in the piece published on his website , said , “ President Buhari stood against the wishes of America on AfDB Presidency ” and supported the re – election bid of African Development Bank President , Akinwumi Adesina .

The PUNCH had earlier reported that the African banking institution and its President were in the eye of the storm earlier this year over allegations of impropriety levelled against Akinwumi Adesina by some whistleblowers working in the bank.

However , the 60 – year – old former Nigerian minister of Agriculture , who became the first Nigerian to helm the AfDB in 2015 , had insisted he was “ innocent ” of the charges .

Commenting on the development , Buhari ’ s spokesperson wrote , “The strife is o ’ er , the battle done . But it was by no means easy . It took so much : tact , diplomacy, guts, deft footworks , prayers, yes , prayers, and so many other things .

“ But today , we can noise it all around . Dr Akinwumi Adesina is now elected for another five- year term as President of the African Development Bank.

“ If America and some other world powers come after you , you have every right to shiver in the broiling sun . It’ s like Chief Olusegun Obasanjo telling you to dismount from the horse of leadership in Nigeria . Only a Muhammadu Buhari can look him straight in the eyes , and say; No sir . And survive it. ”

Quoting Buhari ’ s reaction to Akinwumi Adesina ’ s victory , the President ’ s spokesperson said , “ He ( Adesina ) deserves it ( re- election as AfDB president ) . ”

Fuel marketers across the country adjusted their pump prices on Thursday to between N 158 and N162 per litre of petrol , saying a further increase in global crude oil prices would push the pump price of petrol higher.

Petrol prices have increased for three straight months, rising from N121 . 50 –N123 . 50 per litre in June to N140 . 80 -N143 . 80 in July, N148 – N150 in August and N158 – N 162 in September .

The Petroleum Products Marketing Company , a subsidiary of the Nigerian National Petroleum Corporation had, on Wednesday , increased the ex -depot price of Premium Motor Spirit ( petrol ) to N 151 . 56 per litre from N138 . 62 per litre but later reduced it to N147 . 67 .

The ex – depot price is the price at which the product is sold to marketers at the depots.

When the collapse of global crude oil prices triggered the reduction of the pump price of petrol from N145 per litre to N 125 in March , the Petroleum Products Pricing Regulatory Agency said it would advise the NNPC and oil marketing companies on the monthly “ guiding retail price” at which the product shall be sold across the country.

The Minister of State Petroleum Resources, Timipre Sylva , in a statement on May 15 , said deregulation was approved on March 19 this year .

“ But as you all know , PMS and other petroleum products are very strategic commodities , so you cannot allow the prices of these commodities to be determined wholly by the marketers , ” he added.

In June , the Executive Secretary , PPPRA, Abdulkadir Saidu, said , “ For the avoidance of doubt , it is instructive to state that no private individual or group has the mandate to fix prices of petroleum products , however , the statutory regulatory body is saddled with the responsibility of advising guiding prices . ”

But the PPPRA failed to issue any guiding prices in August and September and has remained silent since then , despite repeated calls and messages sent to the agency by one of our correspondents on the issue.

The spokesperson of the agency , Kimchi Apollo , however , told our correspondent on Thursday that he would get information on the development and revert. He had yet to do so as of the time of filing this report .

The National Operations Controller , Independent Petroleum Marketers Association of Nigeria , Mr Mike Osatuyi , told one of news correspondents that the increase in petrol pump prices was a reflection of the global oil prices .

“ In July, the crude oil price was around $ 43 per barrel . But rose to about $ 44 – $ 45 in August . Last Monday , it increased to $ 46 . If the crude oil price falls to $ 40 , petrol prices will come down . But if it goes up to $ 50 , we should be expecting petrol price to rise to about N163 per litre if the exchange rate remains the same, ” he said .
Osatuyi stressed the need for government to create a level playing field by allowing marketers to also have access to foreign exchange at the official rate like the NNPC to enable them to import products .

The Chairman , Major Oil Marketers Association of Nigeria , Mr Adetunji Oyebanji , said earlier on Thursday that pump prices would have to be adjusted to reflect realities of the increase of ex – depot prices by PPMC.

“ However , the magnitude of the increase , timing and location is a decision left to each company . Consistent with global best practices, MOMAN does not dictate prices to its members as this would be anti -competition in a fully deregulated market .

“ We welcome government ’ s action in allowing the market to determine prices , as we believe it will prevent the return of subsidies, while allowing operators the opportunity to recover their costs. This will, in the long run , encourage investment and create jobs, ” he added.

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