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BREAKING: Oodua groups back Tinubu on fuel subsidy removal
The Coalition of Oodua Self-Determination Groups has appealed to Nigerians to support the subsidy removal by President Bola Tinubu saying that he took the right decision.
The leader of the Yoruba groups, Mr Razak Olokoba, while speaking in a joint press conference held at the Airport Hotel, Ikeja, Lagos State on Tuesday, June 6, 2023, said Nigeria cannot continue to budget trillions of naira on fuel subsidy alone.
He said, “For this year, 2023, Nigeria budgeted N11 trillion of its oil revenue on subsidising petrol alone. This cannot continue. This is good money going down the drain, with little or nothing to show for it.
“This huge amount can be channelled into solving our several deficits, including, infrastructural, housing, education, healthcare and generally upgrading the quality of life for Nigerians. It will also help strengthen the naira.
Olokoba stressed that Nigeria’s economy depends 90 per cent on petroleum exports for its revenue and one-third of its Gross Domestic Product has been zero revenue from the sector, adding, “Tinubu said he inherited the assets and liabilities of the last regime. Nigeria currently owes massive local and foreign debts to the tune of N71 trillion.”
The group’s leader maintained that if the subsidy is not killed, it will kill Nigerians while explaining that since the year 2000 when the Nigerian government gave 20 refinery licences to private companies, adding that none was built apart from Dangote’s recently inaugurated.
Olokoba further encouraged competition in the oil sector, noting that it will bring about lower prices.
Details later…
News
Kogi vigilantes clash leaves eight dead
Chairman of Lokoja Local Government Area, Abdullahi Adamu, confirmed the incident, clarifying that the violence was not a bandit attack on the affected communities.
• One of the dead victims / Ohibaba image
At least eight people have been killed following a violent clash between local vigilante members and Fulani vigilantes in the villages of Abugi, Mikugi, and Gudanchi, all located in Lokoja Local Government Area of Kogi State.
The violence which erupted on Thursday, has thrown residents of Abugi and surrounding communities into panic.
Sources said the crisis began after a confrontation between a member of the local vigilante group and his counterparts from the Fulani vigilante group.
The disagreement reportedly escalated when one of the men allegedly opened fire, killing the other instantly.
The killing triggered a series of reprisal attacks, with the death toll rising to at least eight as of the time of this report.
The exact number of those injured is yet to be confirmed.
Chairman of Lokoja Local Government Area, Abdullahi Adamu, confirmed the incident, clarifying that the violence was not a bandit attack on the affected communities.
The council chairman said security agencies had been briefed and promised to provide further details as investigations progress.
Details shortly
News
Tremor Rocks Abuja, no casualties
It classified the incident as “a light event of I to II magnitude on the Mercalli scale”, noting that it was too weak to cause structural damage.
An earth tremor shook parts of the Federal Capital Territory (FCT), according to the Nigerian Geological Survey Agency (NGSA).
The NGSA’s seismic monitoring station in Utako detected the tremor at exactly 11:23:27am on Tuesday.
The agency said that the earth movement originated from a depth of one kilometre and travelled four kilometres within five seconds.
NGSA classified the incident as “a light event of I to II magnitude on the Mercalli scale”, noting that it was too weak to cause structural damage.
“This is a characteristic feature of a surface earth tremor that poses no threat to lives and properties except for the discomfort of the shake and fear of possible destruction,” the agency said.
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