Business
Association Okays Subsidy Removal …Wants Refineries Fixed
The Natural Oil and
Gas Suppliers’ Association of Nigeria (NOGASA) has applauded the decision to remove the subsidy on Premium Motor Spirit (PMS), also known as petrol.
The association, however, called on the Federal Government to fix the refineries.Secretary, Board of Trustees of the association, Chief Eddy Nwosu, who briefed newsmen on Saturday in Abuja said the removal of subsidy would help transform the oil and gas sector.
He,however, advocated that the deregulation would have been done without any price cap, as the imposition of a price cap would hinder competition which should drive down the price.
“The removal of subsidy is eminent, but we are worried about the price benchmark of N145 per litre.
“The removal of subsidy should be full blown to promote effective competition in the oil and gas sector.
“PPPRA should only regulate the importation of petroleum through their template in a deregulated sector.
“We also implore the Federal Government to as a matter of urgency, repair the existing oil refineries and create an enabling environment for investors to build new refineries.
“These outlined factors, driven by demand and supply, will determine the price and ultimately ease the suffering of Nigerians,” he said.
He urged oil and gas suppliers to go about their normal business, saying that the Federal Government was making conscious efforts to reorganise the sector.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
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