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US govt offers $27m new humanitarian aid to Nigeria
US govt offers $27m new humanitarian aid to Nigeria
The United States government has announced $27 million in humanitarian funding specifically allocated to support Nigeria as part of its Sub-Saharan African aid efforts.
This information was shared in a statement by the U.S. Mission Nigeria on Wednesday through its official X handle.
The international agency said the $27 million was part of the $536 million announced by the U.S. under Secretary of the State Department, Uzra Zeya, few days ago.
“This week @UnderSecStateJ announced nearly $536 million in additional humanitarian funding across Africa, including $27 million in Nigeria. The US is committed to continued partnership providing lifesaving assistance & protection to vulnerable people & generous host communities throughout the continent,” the statement read.
The U.S. Under Secretary, Uzra Zeya, had earlier announced last week announced a total sum $536 million in life-saving humanitarian assistance from the United States to Sub-Saharan Africa.
The announcement was made by Zeya following her visit to Ethiopia for humanitarian mission in the region.
According to the U.S. Under Secretary, the funds are designed to ameliorate the sufferings of the most vulnerable and resolve the challenges of those who are displaced across host communities.
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“Today, I’m proud to announced nearly $536 million in new humanitarian assistance from the United State. Through coordination with host countries governments and international partners, this assistance aimed to create durable solutions to ease the suffering, build resilience and resolve the plight of displaced and other vulnerable persons
“To the generous host communities and our vital partners across the continent and around the world, thank you for protecting the most vulnerable so that all can live in dignity,” Zeya said in a statement.
The United States and Nigeria have maintained a strong ties through trade and other bilateral relationships, with US footprint seen across the country in industry, technology and foreign investment.
Accordingly, the U.S. often offers financial aids to Nigeria, particularly to States faced with huge numbers of displacement, high poverty rate as well as other economic challenges.
In May, Nairametrics reported that the US released the sum of $176 million humanitarian aid for West African countries including Nigeria.
The United States International Development Finance Corporation has a portfolio of over $700 million in direct loans, loan guarantees and other financing support in Nigeria.
According to report, the two-way trade in goods between the United States and Nigeria in 2022, totalled over $8.1 billion making Nigeria the second largest U.S. export destination in Sub-Saharan Africa.
US govt offers $27m new humanitarian aid to Nigeria
News
NNPC has no right setting price of Dangote petrol – Falana
NNPC has no right setting price of Dangote petrol – Falana
Human rights lawyer, Femi Falana, SAN, says the Nigerian National Petroleum Company Limited, NNPCL, do not have the power to fix the price of Premium Motor Spirit, also known as petrol, for the Dangote Refinery after deregulation.
Falana said the NNPCL action violated the Petroleum Industry Act, PIA, which stipulated that the price of petrol must be determined by the market forces
In a statement on Tuesday, the legal luminary said it was an aberration for the NNPCL to peg the price of petrol produced and refined in Nigeria at 950 per litre.
“On September 5, 2024, the Nigerian National Petroleum Corporation Limited (NNPCL) stated that foreign exchange (forex) illiquidity had been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS) governed by unrestrained market forces, as provided for in the Petroleum Industry Act, PIA.
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“The NNPCL was explaining the pump price of PMS imported into the country at the material time. Specifically, the Executive Vice President of Downstream NNPC Ltd Mr. Adedapo Segun, explained that Section 205 of the PIA, which established NNPC Ltd, stipulated that petroleum prices were determined by free market forces.
“But contrary to the well-publicised statement, the NNPCL has fixed the price of PMS produced by the Dangote Refinery and Petrochemical Company Limited. The action of the NNPCL is a violent contravention of section 205 of the PIA, which stipulates that the prices of petroleum products shall be determined by market forces.
“Furthermore, since the petrol sold by Dangote is not imported into the country but produced at the Lekki Economic Free Trade Zone, the NNPCL cannot justify the sale of petrol at N950 per litre without freight cost, lightering cost, jetty depot fees, storage fees, foreign exchange costs, NPA charges: NIMASA charges, Customs duties etc,” he said.
Falana’s outburst followed the commencement of PMS lifting by the NNPCL from the Dangote Refinery.
You would recall that as soon as lifting commenced, NNPCL announced that the product would sell for N950 per litre in Lagos State and its environs, and above N1,000 per litre in states such as Borno.
Reacting, the Independent Petroleum Marketers Association of Nigeria, IPMAN, on Monday, criticised NNPCL, saying it was not right for petrol lifted from the Dangote Refinery to cost higher than imported ones
NNPC has no right setting price of Dangote petrol – Falana
News
Coffee prices double in Nigeria after global supply disruptions
Coffee prices double in Nigeria after global supply disruptions
Nigeria is feeling the impact of the global coffee crisis as futures prices surge by over 30% due to severe supply disruptions caused by drought in Brazil, the world’s largest Arabica coffee producer.
In Nigeria, coffee prices have doubled in 2024, with popular brands like Nescafe and TopCafe experiencing significant hikes.
For instance, “Nescafe 3 in 1” spiked to N34,000 per carton in August, up from N28,000 in May, and a steep rise from N18,000 last year.
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The rainfall shortage in Brazil, which began in April, has led to a sharp decline in coffee production, sparking a global rush to secure supplies.
This has driven up coffee futures, with U.S. Coffee Futures and Arabica Futures both soaring by more than 30% in 2024, impacting markets worldwide, including Nigeria.
Coffee prices double in Nigeria after global supply disruptions
News
UN donates $6m to support Borno flood victims
UN donates $6m to support Borno flood victims
The United Nations has announced the donation of a $6 million fund in support of the Maiduguri flood victims in Borno State.
In a statement on Tuesday, the UN’s Humanitarian Coordinator in Nigeria, Mohammed Fall, said a joint mission comprising UN agencies and non-governmental organisations (NGOs), alongside the Nigeria Red Cross Society, visited the main city of Maiduguri over the weekend.
According to Fall, the team met with people who had been impacted, many of them had already displaced multiple times by conflict and insecurity in the area.
The flood was caused by an overflow in the Alau Dam located just over 10 miles to the south of Maiduguri.
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“We and our partners are providing them with hot meals, we are facilitating air drops of food in hard-to-reach areas cut off by flood waters, and we are also trucking in water.
“We are also providing water and sanitation hygiene services and water purification tablets to stem disease outbreaks.
“This is in addition to supplying hygiene and dignity kits to women and girls, as well as emergency health and shelter services.”
He added that the staff of the UN Office of the Coordination of Humanitarian Affairs were also working closely with donors to secure additional funding.
UN donates $6m to support Borno flood victims
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