FGN - Abia ThinkTank News

Jun

2024

Tinubu Administration Diverting Funds Through Secret Petrol Subsidy

FGN, Columns/Opinions/Letters, News Flash, Oil & Gas

Tinubu Administration Diverting Funds Through Secret Petrol Subsidy – Atiku The Presidential candidate of the Peoples Democratic Party (PDP) in the 2023 election, Atiku Abubakar, has accused the Bola Tinubu administration of diverting public funds through petrol subsidy, hence the refusal of the government to reveal how much is being spent on subsidy. Atiku said this in a statement on Thursday in reaction to a statement from the presidency. The former vice president said the clandestine subsidy regime was one of the reasons investments in the oil sector had refused to come in. He said, “Tinubu has brought the shady…

Jun

2024

0 Comments

By Abia ThinkTank

FGN Has Not Resumed Fuel Subsidy – Presidency Disowns Leaked Fiscal Policy Documents

Business, Economy, FGN, News Flash

FG Has Not Resumed Fuel Subsidy – Presidency Disowns Leaked Fiscal Policy Documents The Federal Government has reacted to leaked fiscal policy documents which suggested that the government had resumed payment of petrol subsidy. In a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga on Thursday, the Presidency dismissed the documents as unapproved policy proposals. He, however, said they are still subject to review and not official government documents. He said, “One of the documents titled Inflation Reduction and Price Stability (Fiscal Policy Measure etc) Order 2024 is being shared as if it were…

Jun

2024

0 Comments

By Abia ThinkTank

FGN Break Silence Over Report Of Spending N814 Billion On Reintroduced National Anthem

FGN, Gossips, News Flash

FG Breaks Silence Over Report Of Spending N814 Billion On Reintroduced National Anthem The National Orientation Agency (NOA) says the federal government has not allocated funds for the promotion of the new national anthem, contrary to reports on social media. Lanre Issa-Onilu, the director-general of the agency, spoke on Wednesday at the presentation of the official version of the new national anthem in Abuja. On May 29, President Bola Tinubu signed a bill reintroducing the old national anthem. However, there have been criticisms against the reintroduction of the anthem. There have been reports on social media that Atiku Bagudu, minister…

Jun

2024

0 Comments

By Abia ThinkTank

Presidency Speaks On Receiving N105k Minimum Wage Proposal From Wale Edun

Economy, FGN, Labour, News Flash

Presidency Speaks On Receiving N105k Minimum Wage Proposal From Wale Edun The Presidency has come out to deny reports that the Minister of Finance and coordinating minister of the economy, Wale Edun proposed N105,000 as minimum wage. Reports emerged on Thursday afternoon that Edun presented a new minimum wage template of N105,000 (approximately $220) per month for Nigerian workers. The report also claimed that Tinubu is currently reviewing the proposal, and an official announcement is expected soon. But in a tweet, presidential aide, Bayo Onanuga debunked the news. He said: “The Honorable Minister of Finance and coordinating minister of the…

Jun

2024

0 Comments

By Abia ThinkTank

Again, FGN Fails To Agree With NLC On New Minimum Wage

FGN, Labour, News Flash

Again, FG Fails To Agree With NLC On New Minimum Wage The President of the Nigeria Labour Congress (NLC), Joe Ajaero on Thursday said no new figure was proposed by the federal government as minimum wage. Ajaero revealed this while speaking with Journalists after a tripartite committee meeting to discuss a new minimum wage from the N60,000 earlier rejected by organised labour. THE WHISTLER had reported that the Minister of Finance, Wale Edun had earlier in the day submitted the projected cost implications of implementing a new national minimum wage to President Bola Tinubu. Edun’s proposal was a backdrop of…

Jun

2024

0 Comments

By Abia ThinkTank

House Of Reps Moves To Create New State In South East

FGN, National Assembly, News Flash, South East

Reps Moves to Create New State in South East, Passes Bill for First Reading The House of Representatives has taken a step towards the creation of a new state in the southeastern region of Nigeria. POLITICS NIGERIA reports that lawmakers in the lower chamber of the national assembly on Thursday passed a bill for the establishment of Orlu State through its first reading. The proposed legislation, sponsored by Hon. Ikeagwuonu Ugochinyere, representative of Ideato North South Federal Constituency of Imo State, and co-sponsored by other lawmakers, is now set for second reading. According to the draft bill, the creation of…

Jun

2024

0 Comments

By Abia ThinkTank

FGN To Suspend Import Duties On Staple Food Items, Drugs, Others For 6 Months To Ease Inflation

Economy, Business, FGN, News Flash

FG To Suspend Import Duties On Staple Food Items, Drugs, Others For Six Months To Ease Inflation The Federal Government is considering a six-month suspension of import duties on staple food items, drugs, and other essential items as a measure to curb inflation, according to a report seen by Nairametrics. This is contained in a document sent to President Bola Tinubu for review and approval The document also includes plans to waive levies on fertilizers, poultry feed, flour, and grains. Bloomberg reported that President Tinubu is yet to sign the document for implementation. The Inflation Reduction and Price Stability Order,…

Jun

2024

0 Comments

By Abia ThinkTank

FGN Plans Importation Of Rice Paddy And Maize Seeds To Reduce Inflation

Economy, FGN, News Flash

FG Plans Importation Of Rice Paddy And Maize Seeds To Reduce Inflation The federal government is currently looking at plans to approve through an Executive Order the importation of paddy rice to millers to stem the growing tide of food inflation across the country. Also, the federal government will consider the importation of maize and rice seeds to farmers to boost production output in these staple crops. This is contained in the draft Accelerated Stabilisation and Advancement Plan (ASAP) recently submitted by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun to the President. The document recommends…

Jun

2024

0 Comments

By Abia ThinkTank

We’ll Accomplish More When We Refrain From Partisan Politics, Personal Interest – President Tinubu

Economy, FGN, News Flash, Politics

We’ll Accomplish More When We Refrain From Partisan Politics, Personal Interest – Tinubu President Bola Tinubu had said working together regardless of political divides and personal interest remains the key to achieving greatness for Nigeria. Tinubu said the completion of critical infrastructure projects across the country by his administration was a clear testament of what the country was capable of achieving when its leaders decided to work together towards a common goal. Tinubu made this statement at the presidential commissioning ceremony of the full-scope development of OSEX from Villa roundabout to Ring road 1 (RR1) in Abuja. He noted that…

Jun

2024

0 Comments

By Abia ThinkTank

FGN Restarts N75,000 Cash Payment To 75 Million Nigerians

Economy, FGN, News Flash

FG Restarts N75,000 Cash Payment To 75 Million Nigerians The Federal Government announced on Tuesday the reinstatement of the suspended social investment programme, aimed at providing direct payments to 75 million Nigerians across 50 million households. This initiative is intended to alleviate the hardships faced by citizens, particularly vulnerable groups, as disclosed during a ministerial sectoral briefing marking President Bola Tinubu’s first year in office. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, revealed that the cash transfer programme had undergone significant overhauls to address and mitigate fraud. This announcement follows the suspension of all National…