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Subsidy removal: Hardship bites harder as Nigerians await palliatives

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Six months after the Federal Government’s announcement of the fuel subsidy removal, the resulting difficulties persist. Citizens eagerly anticipate the promised relief from both the Federal Government and various state governments. While the Federal Government proposed a N35,000 wage increase, states pledged varying sums from N10,000 to N25,000. The fluctuating exchange rate exacerbates the challenges faced by the public.

DAILY POST reports escalating prices for essential goods, transportation, and services. The government vowed to implement measures, including introducing Compressed Natural Gas (CNG) vehicles. However, citizens lament that none of these promises have materialized.

Transportation costs have tripled nationwide due to the high Premium Motor Spirit (PMS) prices, with no indication of a reduction in the near future. Despite President Bola Tinubu’s announcement of a N100 billion investment in 3,000 CNG-powered buses, citizens observe a lack of effective government intervention, making commuting increasingly difficult.

Cash transfer programs, announced by the President on Independence Day, aiming to assist vulnerable citizens with N25,000 monthly, have yet to benefit the intended recipients. Critics, such as Adebayo Mathew, a PDP chieftain, express skepticism, considering the worsening poverty levels and essential goods’ unaffordability.

Regarding local refineries, the government assures that the Port Harcourt refinery will commence operations by December 2023, leading to a reduction in petrol prices. However, many Nigerians doubt this timeline, citing past unfulfilled promises and expressing uncertainty about a correlation between refinery operations and lower fuel prices.

While some, like Comrade Jare Ajayi, urge hope and patience until the year-end, others, like Mr. Kelvin Adanu, remain skeptical, cautioning against expectations based on previous unmet promises. The public continues to grapple with the economic challenges resulting from the fuel subsidy removal, awaiting tangible improvements from the government.

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BVN, NIN requirement: CBN keeps mum as deadline expires

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The Central Bank of Nigeria has kept mum as the deadline for banks to restrict customers’ accounts without a Bank Verification Number or National Identity Number has expired.

DAILY POST recalls that CBN, in a notice on December 1 last year, signed by the Director of Payments System Management Department, Chibuzo Efobi and Director of Financial Policy and Regulation Department, Haruna Mustapha, asked banks to restrict tier-1 accounts or wallets without NIN or BVN.

“For all existing Tier-1 accounts/wallets without BVN or NIN: Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied.

“Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’, and no further transactions will be permitted. The BVN or NIN attached to and/or associated with all accounts/wallets must be electronically revalidated by January 31, 2024”, the statement partly reads.

However, CBN acting spokesperson, Hakama Sidi has yet to respond to calls from DAILY POST on Friday over the fate of banks’ customers without NIN or BVN.

Meanwhile, in a telephone interview with DAILY POST, the President of the Bank Customers Association of Nigeria, Dr Uju Ogubunka, appealed to CBN for a deadline extension.

According to him, though many accounts have NIN or BVN, there are still many without the requirement.

“At this point, the best thing for CBN to do is extend the deadline for bank customers to have their NIN or BVN”, he told DAILY POST.

A source who preferred anonymity in a tier-1 bank told DAILY POST that no customer account had been restricted owing to the NIN or BVN requirement.

“At the moment, no customers’ accounts have been restricted. Customers in the last three days have trooped in to update their account”, he said.

DAILY POST reported that bank customers were in a last-minute rush to meet the NIN and BVN requirement deadlines as they besieged their respective banks.

CREDIT: DAILY POST

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Gov Mbah signs New Enugu City, ENSIEC bills into law

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On Friday, Governor Peter Mbah of Enugu State officially approved the New Enugu City Development Agency Bill, the Enugu State Geographical Information System Service Bill, and the Enugu State Independent Electoral Commission (ENSIC) Amendment Bill, turning them into law. The signing ceremony, witnessed by Enugu State House of Assembly Speaker Uchenna Ugwu at the Government House in Enugu, marked significant steps in the state’s governance.

Governor Mbah clarified the purposes of these laws during the signing event. He highlighted that the New Enugu City Development Agency Law grants administrative authority to oversee the development of a new city master plan, aimed at accommodating both present and future generations. The Enugu State Geographical Information System Service Law, on the other hand, focuses on automating and digitizing processes for service delivery, beginning with land-related matters.

Regarding the ENSIEC Amendment Law, Governor Mbah noted its alignment with constitutional amendments concerning electoral bodies, ensuring compliance with the evolving legal framework.

Explaining the rationale behind the New Enugu City Development Agency, Mbah emphasized the government’s forward-thinking approach to governance, addressing the need for urban expansion to accommodate the growing population. He underscored the significance of having a master plan for future generations to prevent urban congestion.

Furthermore, Mbah elaborated on the Enugu State Geographical Information System Service, emphasizing its role in fulfilling the administration’s promise to streamline land administration processes and provide efficient services. He highlighted the agency’s mandate to manage property information systems and facilitate digital platforms for accessing services and making payments.

Governor Mbah expressed gratitude to the State House of Assembly for their support and swift passage of these executive bills, acknowledging the importance of collaboration in driving the state’s development agenda forward. He emphasized that progress and success hinge on the collective efforts of all stakeholders, including the legislature.

In conclusion, Governor Mbah affirmed his administration’s commitment to fulfilling its promises and leveraging legislative support to enhance governance and service delivery in Enugu State.

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Tinubu’s presidency not by chance – Shettima

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Vice President Kashim Shettima asserts that Asiwaju Bola Tinubu’s rise to the presidency is not coincidental but a divine blessing due to the sincerity of his character. Shettima made these remarks during a courtesy visit by the Nigerian Christian Pilgrim Commission (NCPC) delegation at the Presidential Villa in Abuja on Friday.

“The path leading to Tinubu’s presidency wasn’t accidental. He is known for his consistent sacrifices for the nation’s welfare. His success is viewed as a divine reward for his genuine intentions,” Shettima stated.

He stressed the importance of leaders fostering unity, highlighting Tinubu’s significant role in offering an alternative political platform within Nigeria’s system.

“Tinubu has made sacrifices and facilitated unity. He provided a haven for those facing political persecution and offered an alternative platform when others struggled for recognition,” Shettima elaborated.

Shettima urged Nigerians to be patient with Tinubu’s leadership, emphasizing that his presidency is not a coincidence but a deliberate journey towards national success.

He also charged the newly appointed NCPC Board to demonstrate unwavering commitment to their duties and reminded them of the importance of religious dedication in addressing national challenges.

“All of you were selected based on your religious commitment. We cannot overlook the issues within our system. It’s essential for all of us to strive for positive change to achieve the Nigeria we envision,” he concluded.

Previously, Bishop Stephen Adegbite, the Executive Secretary of NCPC, expressed gratitude to President Tinubu for the opportunity to serve on the board and praised Vice President Shettima’s outstanding leadership, citing his support for the Church and peace efforts in Borno State.

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