Metro

Fuel, electricity tariff increase callous, insensitive, says YOV

Published

4 years ago

September 7, 2020

…Demands immediate reversal

The Yoruba One Voice (YOV), a coalition of all Yoruba groups and organisations in the diaspora consisting of more than fifty Yoruba organisations from the four continents of the world strongly display concerns over the federal government increase of electricity tariff and fuel price.

In a press statement made available to newsmen from Toronto, Canada by International Human Right Journalist, and Communication Director of YOV, Zeachus Somorin, the coalition believes that the actions of the Federal government are insensitive and inconsiderate considering the impacts of COVID-19 on citizens.

Somorin stated that “most countries of the world are giving stimulus packages to their citizens ranging from $800 to $1500 weekly, instead of the Nigerian Government to focus on economic recovery and re-build using the stimulus package model of COVID 19 adopted by countries such as Australia, United Kingdom, United States or Canada, the government decided to increase the pump price of premium motor spirit (PMS) otherwise known as petrol to N151.56 per litre and electricity tariff.

‘The government is insensitive to the socio-economy plights and impact of COVID-19 on Nigerians and businesses; the electoral promise has not all been fulfilled. The President’s wife should not be going abroad for treatment had there been adequate infrastructure to treat her. Economic recovery should be the focus to avoid recession, Somorin stated.

”YOV knows that the Federal Government of Nigeria is under intense pressure by the World Bank to make undesirable reforms. According to Somorin, Nigeria applied for a $1.5 billion loan from the World Bank. However, the World Bank has stated that it won’t grant the loan because Nigeria is heading towards its greatest fiscal crisis in 40 years if certain reforms are not made. While it is necessary to make reforms that would boost the economy, it is shocking that the Nigerian government would make these reforms at the detriment of its citizens. Does Nigerian Government make use of economists and policy analysts in its decision-making process? I don’t think so, he stated. The coalition is calling on the Federal to reject the World Bank loan in its entirety, saying if the FG refuses, Nigeria will go into recession and more Nigerians would become poorer than we have witnessed in the last 40 years.

According to YOV, This is the time for the federal government to make use of all the tax money it confers, and the looted recovered money by the Economic and Financial Crimes Commission (EFCC). The loan from the World Bank would create more problems than solutions. YOV, therefore advises the federal government to release money into the economy through stimulus packages, this would keep businesses going, would prevent inflation and recession.

It added that “unnecessary hardship that may result in high suicidal rates, family violence and mental health breakdowns should be of concerns to the federal government during these unprecedented times than electricity and petrol increase.

YOV posited that the continued agitation for self determination by different ethnic groups in Nigeria has been motivated by insecurity across the country, saying the government may, in the short run, be forced to accept a referendum to renegotiate Nigeria; as almost all the Northern states have the active presence of active terrorist groups wrecking havoc on innocent Nigerians.

Somorin, therefore, calls on Civil Society groups, Labour Unions and all concerned Nigerians to rise against the government’s inconsiderate and nonchalant attitude towards the plights of Nigerians.

Business

UBA GMD Calls for Public-Private Collaboration, Joins Aviation Minister to Commission New MMIA Departure Section

Published

6 hours ago

December 22, 2024

Sahara Weekly

UBA GMD Calls for Public-Private Collaboration, Joins Aviation Minister to Commission New MMIA Departure Section

The newly renovated departure section of the Murtala Muhammed International Airport, Lagos, refurbished by United Bank for Africa (UBA) Plc, was officially commissioned on Friday, December 20th, 2024.

The laudable project, which marks a transformative moment in Nigeria’s aviation sector, underscores UBA’s unwavering commitment to national development and highlights the immense value of strategic public-private partnerships (PPPs).

The ceremony was graced by distinguished stakeholders, including the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN; the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku; other Directors, and Heads of Agencies operating at the Airport.

Speaking at the event, UBA’s Group Managing Director/CEO, Oliver Alawuba,lauded the collaboration that brought the project to fruition as he emphasised the need for public and private institutions to come together to build and revamp the nation’s assets.

“This renovation is a testament of UBA’s belief in the transformative power of investing in national assets. By modernising our airports, we not only enhance infrastructure but also position Nigeria as a global hub for tourism, trade, and investment,” he stated.

Alawuba took time to highlight the broader economic impact of such initiatives, urging increased private-sector participation in national development. “Public-private partnerships like this demonstrate what can be achieved when we unite for a shared vision of progress and investing in infrastructure catalyses economic growth, improves travel experiences, and creates opportunities across various sectors of the economy,” he added.

Alawuba reflected on the power of unity and collaboration, quoting Helen Keller: “Alone we can do so little; together we can do so much.” The commissioning of the renovated departure section serves as a reminder of what strategic partnerships can achieve in driving national development and elevating Nigeria’s global standing.”

While commissioning the project, Keyamo commended UBA for executing the project, a feat he termed a landmark achievement in Nigeria’s aviation sector. “This renovated departure section exemplifies the bank’s commitment to elevating aviation infrastructure, improving passenger experiences, and fostering international partnerships. It is a proud moment for the ministry and all stakeholders involved, and I thank the management of UBA for pioneering this initiative,” he remarked.

The minister highlighted other key achievements of his ministry, including compliance with the Cape Town Convention, the launch of a consumer protection portal, and advancements in major infrastructure projects such as the second runway at Abuja Airport and solar energy integration in airport operations.

The Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Kuku, commended UBA and other stakeholders for their contributions, adding, “This project reflects FAAN’s dedication to delivering world-class aviation infrastructure. The enhanced departure section not only elevates passenger experiences but also strengthens Nigeria’s competitive position in global aviation,” she said.

She called for more private-sector participation, emphasising that “partnerships like these are essential to transforming the aviation sector into a beacon of excellence.”

The newly renovated departure section boasts cutting-edge facilities designed to enhance efficiency and passenger comfort. This upgrade reaffirms the Murtala Muhammed International Airport’s status as a critical gateway to Nigeria and a major hub for international travel in Africa.

United Bank for Africa is Africa’s Global Bank. Operating across twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.

Business

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

Published

2 days ago

December 21, 2024

Sahara Weekly

Port Harcourt Refinery Stays Active: NNPC Denounces Sabotage Rumors

NNPC Debunks Shutdown Rumors, Confirms Port Harcourt Refinery Fully Operational

The Nigerian National Petroleum Company Limited (NNPC Ltd) has dismissed reports circulating in certain media outlets claiming that the Old Port Harcourt Refinery, which was re-streamed two months ago, has been shut down.

In a statement released by Olufemi O. Soneye, the Chief Corporate Communications Officer of NNPC Ltd, the company clarified that the refinery is fully operational. The statement noted that the facility’s operational status was recently verified by former Group Managing Directors of NNPC during a site inspection.

“Preparation for the day’s loading operation is currently ongoing,” the statement confirmed, emphasizing that allegations of the refinery’s shutdown are baseless and intended to create panic or artificial scarcity in the fuel market.

NNPC Ltd urged members of the public to disregard such misleading reports, labeling them as the work of those seeking to exploit Nigerians.

The Old Port Harcourt Refinery has been in operation since its re-streaming, and the company remains committed to ensuring stability in the supply of petroleum products across the country.

Business

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

Published

3 days ago

December 20, 2024

Sahara Weekly

Nigerian Banks Donate Multimillion Naira Relief Materials to Jigawa Flood Victims

In a show of solidarity, the Committee of Banks in Nigeria has extended a helping hand to victims of the September 2024 floods in Jigawa State. On Thursday, a high-profile delegation led by Dr. Oliver Alawuba, Chairman of the Committee and Group Managing Director/Chief Executive Officer of United Bank for Africa Plc (UBA), visited Dutse, the state capital, to present relief materials to the state government.

The donated items, worth several million Naira, included essential food supplies such as rice and cooking oil, along with mattresses and beverages. Dr. Alawuba highlighted that the gesture aimed to alleviate the hardship faced by flood victims and support critical institutions, especially public hospitals, in their efforts to assist those affected.

“We stand in solidarity with the people and government of Jigawa State during this difficult time. This donation is our way of expressing empathy and supporting those who have lost loved ones, properties, and livelihoods,” Dr. Alawuba stated.

The delegation included notable banking leaders such as Mr. Roosevelt Ogbonna of Access Bank Plc, Dame (Dr.) Adaora Umeoji of Zenith Bank Plc, and Dr. (Mrs.) Nneka Onyeali-Ikpe of Fidelity Bank Plc, among others. Their collective presence underscored the banking sector’s commitment to corporate social responsibility and national development.

Governor Malam Umar A. Namadi expressed profound gratitude for the donation, describing the visit as a rare and commendable act of compassion. He assured the delegation that the relief materials would be judiciously distributed to the intended beneficiaries, emphasizing the importance of partnerships in rebuilding lives and communities.

The Committee of Banks also reiterated their commitment to supporting Nigerians during emergencies, drawing attention to previous interventions, including relief efforts during the 2011 and 2013 floods, the COVID-19 pandemic, and security initiatives like the Lagos State Security Trust Fund.

This humanitarian gesture reflects the collective resolve of Nigeria’s financial institutions to foster social and economic growth, making a meaningful impact in times of need.