Nation
Subsidy Removal Advice Wrong, Implementation Suicidal, NUPENG Warns
The Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has warned that the removal of petrol subsidy now would be highly suicidal, adding that the advice by the Presidential Economic Advisory Committee (PEAC) on subsidy removal was wrong.
It would be recalled that the PEAC had advised President Muhammadu Buhari, to remove subsidy on petrol and adopt a pricing regime that reflects the cost of the commodity.
Reacting to the development, the General Secretary, NUPENG, Comrade Olawale Afolabi, said that implementing the advice would spell doom for the poor masses considering the precarious economic situation of Nigeria at present.
He said, “Within the current context of hardship in the country, it is suicidal to remove subsidy now. It is highly suicidal within the current situation.”
Afolabi said NUPENG had repeatedly told the government that the full deregulation of the downstream oil industry was the way to go, but this must not be based on petroleum product imports.
He said, “Deregulation is desirable in the downstream sector but we cannot deregulate within the context of importation. We have always been saying that domestic production is the way to go.
“So, you cannot base our deregulation on the importation of products. It is like selling our employment opportunities and throwing away our resources. We’ve been telling government for years now, make sure that domestic production and refining of the product is on, then, you can deregulate.”
On the benefits of deregulation, he said, “It will engender increased business activities in the downstream sector but it should not be based on importation of products. You should deregulate within the context of local refining.”
When told that the refineries were not working, Afolabi replied, “That means that the advice (of the PEAC) is wrong. That means that the advice is not applicable now.
“And for emphasis, within the context of the current hardship in the country you cannot remove subsidy at this period.”
Nation
Rivers Deputy Governor Hails PH City One Love For Humanitarian Gesture
Rivers state Deputy Governor Professor Ngozi Nma Odu has commended “The Port Harcourt City One Love,”a Port Harcourt based humanitarian orgnisation For it’s commitment towards alleviating the sufferings of the poor and vulnerable in the society.
Professor Ngozi Nma Odu said this while speaking at this year’s edition of “operation feed the needy” a yearly outreach program of “The Port Harcourt City One Love ” in Port Harcourt.
The Deputy Governor said by feeding more than sixty thousands hungry people within the past six years, the Port Harcourt City One Love Movement has distinguished itself as a club that cares for the less privilege in the society.
She commended the , organization for listing eleven thousand persons to be fed in the current exercise.
Meanwhile The Port Harcourt City One Love has planned a permanent solution to the problem of feeding the poor in the state.
The leader of the group Mr Idaere Gogo Ogan who said this in an interview with newsmen during the distribution of food items to the poor and vulnerables in Port Harcourt said the organization is planning a permanent food kitchen where poor and vulnerable persons can work in anytime and get fed.
Idaere Gogo Ogan said more than sixty thousands poor and vulnerable persons across Port Harcourt City and environs have been fed since the inception of “The operation feed the needy” program six years ago,adding that so far sixty thousands poor and vulnerable persons have beneffited.
He described the group as a platform to promote friendship, brotherhood, community development empathy and feeding the less privilege and hungry people
“That’s what we are doing today here,so we started the exercise six years ago”.he said.
Ogan said the effort was a private sector driven initiative but added “it also involves people in Government because the platform does not recognize any division,we bring everybody together in unity , friendship and brotherhood”he said.
He said the effort will go along way in alleviating hunger especially following the prevailing hunger in the country.
According to him “you know the country is very tough, people are hungry people are starving, there is a whole lot of economic hardship,so for us, this is just our own way of reaching out, our own social contribution to what is very difficult”he said.
Over eleven thousand persons were fed in the just concluded exercise.
Areas of coverage include, Isaac Boro park, Port Harcourt prison/Macoba, Borokiri/Enugu waterside Bundu areas Waterlines and others.
Some of the beneficiaries including an 80 years old widow commended the movement for the annual programm and urged other organizations to emulate them
John Bibor,/Esuuk Oyet/Suotor Memoye /Jeremiah Hannah
Nation
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Nation
SheVentures Open Zero-interest Loan Applications for Women Entrepreneurs
“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively. Women-led enterprises are critical to economic activity, yet they face structural barriers.
“This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs”, Edun said.
Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB), Nnenna Jacob-Ogogo said access to affordable finance remains a major constraint for women entrepreneurs.
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