Minister links petrol price hike to COVID-19 vaccine discovery – Newstrends
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Minister links petrol price hike to COVID-19 vaccine discovery

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Minister of State for Petroleum Resources, Chief Timipre Sylva, has said the recent increase in petrol pump price, from N158 to N168, is attributable to the announcement of the discovery of vaccines for COVID-19.

He stated this on Monday while addressing State House correspondents, after briefing President Muhammadu Buhari at the Aso Rock Presidential Villa in Abuja.

The minister said prices would continue to be affected by developments in the crude oil market from time to time, adding that the current situation was as a result of a slight increase in the price of crude oil in the international market when Pfizer’s discovery of an effective vaccine for COVID-19 was announced.

He said, “Now what happened recently was because of the announcement of a vaccine for COVID-19 by Pfizer. With that, crude oil prices went up a little bit. If you have been following crude oil prices, you would have seen that crude oil prices went up a little bit, as a result of this announcement.

“So when crude oil prices go up a little bit, then you will see that it instantly reflects on the price of petrol, which is a derivative of crude oil. That’s why you see that there’s this movement and if we listen to ourselves, this is the same explanation we’ve been giving.”

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FG warns LG chairs misusing FAAC funds will face jail term

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Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi (SAN)

FG warns LG chairs misusing FAAC funds will face jail term

The Federal Government has threatened jail terms for Local Government Area chairmen who tamper with Federation Accounts Allocation Committee funds.

Lateef Fagbemi (SAN), the Attorney General of the Federation and Minister of Justice, made the announcement yesterday at the Human Rights Writers Association of Nigeria’s 17th annual lecture event in Abuja.

He stated that none of the chairmen have immunity and will be imprisoned if they tamper with funds designated for the development of their areas. Fagbemi stated, “We have a situation on our hands; I know that it is still there; the conduct of elections must be done by the states.”

“But the distinction is this: don’t forget, the governors have immunity, the local government council chairmen or councillors, they have no immunity, so they have to choose between dealing with the funds of the local government as they like and risking going to jail. The choice is theirs (LG chairmen).

“If they want to tamper with these funds and end up in jail, it is their choice. If they want to write their names in letters of gold, activities like construction or road upgrades must be returned to the local government. They don’t all have to come to Abuja.

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“If they stay at the local government, we will be able to reduce the level of insecurity that we have in Nigeria today. What obtains offshore is that the security agents are able to perform optimally because of information that comes to them from members of the public and usually it is from the grassroots.”

The minister said the federal government opted to use the supreme court to achieve local government autonomy due to the challenges it will face at state assemblies, stressing that any speaker who would have supported the cause will not survive the tenure or lose his reelection.

The Minister stated that for over two decades, local government administration in the country has been in comatose with state governments not remitting funds meant for the local governments.

Fagbemi, who urged security agents in the country to stop keeping suspects in detention beyond the period allowed by the constitution, added that detention without any court order will no longer be tolerated as appropriate sanctions will be applied to those found guilty of contravening the law of the land.

On his part, the National coordinator of HURIWA, Comrade Emmanuel Onwubiko, urged the federal government to cut down on the cost of governance.

He blamed corruption for the insecurity and high unemployment rate in the country, which is responsible for impending protests in the country.

FG warns LG chairs misusing FAAC funds will face jail term

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FG rolls out fresh plans to revive local manufacturing, create 4.4 million jobs

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Minister of Innovation, Science, and Technology, Chief Uche Geoffrey Nnaji

FG rolls out fresh plans to revive local manufacturing, create 4.4 million jobs

The Federal Government has unveiled plans to create 4.4 million jobs by implementing Nigeria’s National Strategy for Competitiveness in Raw Material and Product Development.  

This announcement was made by the Minister of Innovation, Science, and Technology, Chief Uche Geoffrey Nnaji, during the National Consultative Committee on Global Competitiveness in Raw Materials and Product Development conference in Abuja on Thursday.  

According to a statement on the official X (formerly Twitter) account of the Federal Ministry of Information and National Orientation, the strategy will generate employment and enhance local content in manufacturing. 

This boost in local content will ensure the global acceptance of Nigerian raw materials, products, and services, thereby improving the country’s global competitiveness, the statement also noted.  

“Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji, has said that the Federal Government will create 4.4 million jobs through the implementation of the National strategy for competitiveness in Raw Material and Products Development in Nigeria. 

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“Nnaji stated that the implementation of the National strategy will not only enhance the creation of employment, our quest for economic diversification but will also, boost local content in manufacturing to 50% and 80% respectively, for global acceptance of made-in-Nigeria raw materials, products and services which will ensure global competitiveness in the country,” the statement read in part. 

The Minister further stated that global competitiveness is essential for producing goods and services that meet international standards. Nnaji emphasized that Nigeria must leverage innovation, science, and technology to achieve this. 

The statement further noted that the Permanent Secretary, Mrs. Esuabana Nko Asanye, represented by Mrs. Salamatu Mohammed, highlighted the Conference as a crucial forum for discussing the National Strategy on Global Competitiveness in Raw Materials and Products Development. She emphasized the theme’s relevance to the current national development priorities. 

Prof. Nnanyelugo Martin Ike-Muonso, Director-General of RMRDC, welcomed guests, stressing that the successful implementation of the home-grown strategy, driven by innovation, science, and technology, will significantly reduce raw material imports. He noted that the technical workshop would address key issues, ranging from competitiveness and advocacy to the commercialization of R&D breakthroughs. 

Dr. Henry Emejo from the Organized Private Sector urged stakeholders and Nigerians to collaborate for the country’s socio-economic development.  

Additionally, Sir Henry Eteama, Project Manager of SITU, emphasized the importance of clearly defined stakeholder roles in policy, legal frameworks, and R&D outputs. He called for collective efforts and commitment to ensure the project’s success and achieve the nation’s goals.

FG rolls out fresh plans to revive local manufacturing, create 4.4 million jobs

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I was a peaceful protester, Tinubu admits

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President Bola Ahmed Tinubu

I was a peaceful protester, Tinubu admits

President Bola Tinubu says it is true that he was part of different protests in the past but they were devoid of violence.

The President stated this on Thursday when he received a Letter of Credence from the United States Ambassador to Nigeria, Mr Richard Mills Jr. at the Presidential Villa in Abuja.

He stressed the importance of sustaining democracy and its institutions, noting that protests are an integral part of democracy.

He however pointed out that no government would condone demonstrations that could lead to deaths and destruction of property.

He said, ”During the military era, we made our voices heard against dictatorship, and I was part of the group that engaged in peaceful protests without resorting to the destruction of property.

“We have worked hard to ensure 25 years of unbroken democracy and I will continue to maintain this democracy.”

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The President said in as much as he believes that demonstrations are part of democracy, “we will never encourage any protests that lead to the destruction of lives and property.”

The President welcomed the US State Department’s acknowledgement of Nigeria’s strategic role on the continent as Africa’s largest democracy.

He called on the US government to pay more attention to Africa.

”Nigeria is ready to play its role as the largest democracy in Africa that is worthy of emulation to other African countries, but we need more US partnership on the continent that is beneficial to both sides.

“We believe in freedom, and we are providing the leadership to make Nigeria’s economy grow,” the President said.

Ambassador Mills affirmed the US support for Nigeria’s democracy, and pledged support for bigger roles for Nigeria in the international arena.

“Nigeria is crucial to the United States because we share democratic values, and we are ready to give you all the support,” Mills said.

I was a peaceful protester, Tinubu admits

 

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