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Petrol Subsidy Is Unsustainable – Buhari

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President Muhammadu Buhari on Friday advocated for the elimination of fuel subsidies in 2023, claiming that the current economic climate makes the policy unworkable.

The FidelinfoNews reports that while presenting the National Assembly with a N19.76 trillion budget proposal for 2023, he stated his position.

He said, “Petrol subsidy has been a recurring and controversial public policy issue in our country since the early eighties.

“However, its current fiscal impact has clearly shown that the policy is unsustainable. As a country, we must now confront this issue taking cognizance of the need to provide safety nets to cushion the attendant effects on some segments of society.”

According to the President, discontinuing the policy is necessary for the country to manage limited resources.

“As we seek to grow our government revenues, we must also focus on the efficiency of utilization of our limited resources,” he said.

“Critical steps we are taking include immediate implementation of additional measures towards reducing the cost of governance and the discontinuation of fuel subsidy in 2023 as announced earlier.”

The President, however, hinted that provisions would be made to cushion the effects of subsidy removal.

“We are however mindful of the fact that reducing government spending too drastically can be socially destabilizing, and so will continue to implement programmes to support the more vulnerable segments of society,” he said.

The N19.76 trillion proposed for the 2023 budget represents a 15.37 percent increase on the 2022 budget.

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Imo State Labour Party Gubernatorial Aspirant Found Dead

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Chief Humphrey Anumudu, a Labour Party aspirant in the upcoming Governorship primaries in Imo State, has been found dead in his house.

Fidel Info reports that The aspirant died in his house in Lagos after he had returned from an LP meeting at the party national headquarters in Abuja on Friday.

A native of Mbieri Ancient Kingdom in Mbaitoli Local Government Area of Imo state, Anumudu was reportedly found dead in his house in what family sources described as a “spiritual attack.”

As a multi-billionaire businessman cum politician, he has been contesting for the governorship seat of the state since 1998.

He was said to be the true winner of the Peoples Democratic Party governorship primary in the state in 1998 before the ticket was ceded to Achike Udenwa who went on to rule the state between 1999 and 2007.

Since then he had been contesting for the number one seat of the state. In 2019 he was the Zenith Labour party governorship candidate.

A close friend of the deceased said that he died around 5:30 pm on Friday.

The late politician had already paid the sum of 25 million Naira for Labour Party’s Governorship form for the November 11th 2023 Guber contest.

Chief Anumudu, a respected legal luminary and an astute politician was also the Chief Executive Officer of Globe Motors.

He contested for the Governorship election in the past under the All Progressives Grand Alliance.

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INEC Vows To Prosecute Perpetrators Of Violence In 2023 Elections

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The Independent National Electoral Commission (INEC) has promised to prosecute perpetrators of electoral violence in the just-concluded 2023 general elections.

Fidel Info reports that The Chief Press Secretary to the INEC Chairman, Rotimi Oyekanmi, stated this on Friday in Abuja, the nation’s capital.

Oyekanmi said the prosecution of electoral offenders and their sponsors will curb the prevalence of violence in the nation’s elections.

He also called for the need for the establishment of the Electoral Offences Commission and Tribunal to prosecute such offenders and their sponsors.

The INEC boss spokesman noted that if the new commission was established, electoral offenders and their sponsors would reconsider their actions.

Oyekanmi, however, said the Commission has succeeded in prosecuting a few electoral offenders, but their sponsors have been largely untouched.

He said, “Electoral violence should not be tolerated. That is why the commission has been calling for the establishment of the Electoral Offences Commission and Tribunal, specifically to try cases related to infractions associated with elections.

“In fact, stakeholders have also been calling for this tribunal for many years, especially after the 2011 general elections. I believe strongly that if perpetrators of electoral violence and their sponsors know that they will give account for their misdeeds, they will think twice.”

“The commission has succeeded in prosecuting a few electoral offenders, but their sponsors have been largely untouched. We need to change this.”

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JUST IN: CBN Orders Banks To Circulate Cash This Weekend

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As part of a coordinated effort to facilitate the circulation of banknotes of various denominations, the Central Bank of Nigeria, CBN, has confirmed the evacuation of banknotes from its vaults to commercial banks throughout the nation.

Fidel Info reports that Also, the CBN has ordered all commercial banks to be open on Saturdays and Sundays. (more…)

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