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How FG saved N400bn in 30 days after fuel subsidy removal

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Fuel pump

 

Operators within the downstream oil and gas sector have said the federal government has raked in N400 billion due to fuel subsidy removal in the last 30 days.

On Friday, Chinedu Okonkwo, National President of the Independent Petroleum Marketers Association of Nigeria, disclosed this in an interview with DAILY POST.

Recall that in a meeting with oil and gas operators in February, Mele Kyari, the Group Chief Executive Officer of Nigerian National Petroleum Corporation Limited, NNPCL, had stated that the country spends N400 billion monthly on fuel subsidies.

Speaking on the state of the sector owing to the removal of the subsidy and changes in the country’s foreign exchange market, Okonkwo said that the deregulation has a long time impact.

According to him, the development would either lead to an increase in fuel price or a decrease depending on the market-determined price of forex.

He added that the impact on the masses would gradually decrease by introducing Compressed Natural Gas, CNG, into the sector.

“You know how much the government is spending monthly on fuel subsidies payment, but that expenditure to the tune of dollars or Naira will be saved.

 

“The government has indeed reduced spending on fuel subsidies, though the thing is biting, so we have drafted an alternative in Compressed Natural Gas, CNG,” he said.

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Unknown Gunmen Abduct Channelstv Reporter In Port-harcourt

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Some unknown gunmen have kidnapped Joshua Rogers, the ChannelsTV reporter in Port-Harcourt, the Rivers State capital.

Politics Nigeria learnt that Rogers was picked up close to his residence at Rumuosi in Port Harcourt and to an unknown destination by the gunmen around 9pm on Thursday, April 11.

The reporter was driving his official ChannelsTV branded car when the hoodlums accosted, pointed a gun at him and took him away in the same vehicle.

 

Rogers was said to be returning from his official assignment in Government House after a trip to Andoni for a government event when the incident happened.

Already, the gunmen were said to have contacted his wife and demanded a N30million ransom for bis release.

His cameraman confirmed the incident and appealed to his abductors to set him free unconditionally.

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Lassa Fever Kills 150 In Nigeria — NCDC

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According to the Nigeria Centre for Disease Control and Prevention (NCDC), 150 people died from Lassa virus in 125 local government areas throughout 27 states in the federation between January and March 2024.

The NCDC reported that the deaths were recorded with a case fatality rate (CFR) of 18.6% overall from week one to week thirteen, 2024. This is higher than the CFR for the same time in 2023 (17.5%).

In its Lassa Fever Situation Report Epi Week 13, which was released on March 25–31, 2024, the agency revealed that 806 of the 5,295 suspected cases that were recorded were confirmed. Eyes Of Lagos reports,

According to the report, in week 13, the number of new confirmed cases decreased from 25 in Epi week 12, 2024 to 15. These cases were reported in Ondo, Bauchi, Plateau and Edo states.

 

In total for 2024, 27 states have recorded at least one confirmed case across 125 LGAs, even as 62 percent of all confirmed Lassa fever cases were reported from Ondo, Edo, and Bauchi states, while 38 percent of cases were reported from 24 states with confirmed Lassa fever cases.

Of the 62 percent confirmed cases, the NCDC said Ondo reported 24 percent, Edo 22 percent, and Bauchi 16 percent. The predominant age group affected is 31-40 years (Range: 1 to 98 years, Median Age: 32years), with a male-to-female ratio for confirmed cases of 1:1.

From the report, the number of suspected cases (5,295) increased compared to that reported for the same period in 2023 (4,338).

The agency confirmed that the National Lassa fever multi-partner, multi-sectoral Incident Management System has been activated to coordinate response at all levels at the Emergency Operations Centre, EOC.

No new healthcare worker was affected in the reporting week 13, the report noted.

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