Oil price, on Thursday, rose to $83 a barrel.

Brent crude, the global oil benchmark, rose 0.75 percent to trade at $83 a barrel, while the US West Texas Intermediate jumped 0.86 percent to $79. 

The development came on the back of expected tightening of supply due to production cuts by the Organisation of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, as well as some involuntary outages.

The uptick in global crude prices also comes a week ahead of when key OPEC+ ministers are expected to meet on August 4 to review the oil market.

 

The increased price of Brent crude, Nigeria’s oil benchmark, is said to inadvertently push the international spot price of petrol — a major determinant of the commodity’s price in Nigeria in the post-subsidy regime.

Last week, when petrol price increased from N540 to N617 per litre, Farouk Ahmed, chief executive officer (CEO) of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), explained that the price hike was a result of rising crude prices.

“A week or so ago, the price of crude was hovering around $70 per barrel. Now, it’s over $80 per barrel. So, of course, the crude prices also drive the product price,” he said.

 

⁣“As the importers are importing, they base it on the cost of importation plus the freight plus other costs elements in terms of local distribution.”

[TheCable]

The Nigeria Labour Congress (NLC) has insisted on going on its scheduled strike, which commences on August 2, 2023.

The labour union has said the strike is their way of rescuing Nigerians from the shackles of the government’s ‘poor policies.’

The NLC president, Joe Ajaero, while featuring on Channels Television’s Politics Today on Wednesday, said the strike is to liberate Nigerians from policies of the new administration that has caused hardship.


Naija News recalls that the labour union earlier gave the government a seven-day ultimatum to reverse what it described as “all anti-poor” policies, including the hike in the price of Premium Motor Spirit (PMS), known as petrol.

However, during the programme, the NLC president explained that the union was still analysing the situation with the possibility that the government policy could further plague already worse conditions of Nigerians.


He said, “The situation would be worsened. It is rather a move to rescue Nigerians, to see whether the government can show some level of empathy for us to do things differently to enable Nigerians to survive.

“It can’t get worse than it is today. The impact we are talking of is either the impact on commodities or the impact on the people.

“What we are resisting, what we are fighting against, is the impact on the people, and the impact is so much. It is worse.

“I don’t know what other consideration one can look at; every government policy in a nation is aimed at benefiting the nation.

“The naira is gone, economic activity is gone, foodstuff gone. (In terms of) movement, you can’t move, and transportation is gone.”

Governor of Jigawa State, Umar Namadi, has revealed what Nigerians should expect as governors elected on the platform of the ruling All Progressives Congress (APC) played a significant role in the emergence of President Bola Tinubu’s ministerial list.

Naija News understands that the much-anticipated list of ministerial nominees is expected to be fully unveiled today by the National Assembly, as reports claimed the President had forwarded the same to lawmakers.

Speaking, however, on speculations about the development, Governor Namadi said Nigerians should be expectant of a rancour-free list.


According to him, the list has the blessings of the ruling party’s governors.

During an interaction with journalists on Wednesday in Dutse, Jigawa State capital, Namadi said President Tinubu has been consulting with governors and that when the list is finally released, it will not cause any rancour among the state leaders.


“Of course, governors were carried along. Yes, we were carried along. Certainly, Nigerians can expect a list that would not cause any rancour amongst us,” Namadi told Daily Trust.

The governor, who spoke on several issues, also said the much-touted “calculator” that has become synonymous with Jigawa State by virtue of its former governor being known as ‘Mr Calculator’ was not as bad as some people had been painting it to be.


He explained that all the calculator phenomenon means was the judicious and prudent use of the state’s resources for the overall good of the public.

Namadi said: “The problem is that people are misperceiving what this calculator thing truly means. The calculator is to ensure the judicious use of resources and that there is value for money. To ensure that every kobo is accounted for and as much as possible, this government would try to do what is right for the people.

“The money is meant to be spent for the benefit of the people, and there is no reason why you’ll keep the money. Even for the past government, it is not so that the money has been kept, but we’ve been prudent. That is why you can see that for the last eight years, on the 25th of every month, Jigawa State will pay a salary, and on the 10th of the following month, we pay a pension. This process is continuing; we have paid the salary already, and you know the FAAC is not out yet, but we have paid.”

Nigerians have taken to social media to react to the alleged listing of former Rivers governor, Nyesom Wike as one of ministerial nominees of President Bola Ahmed Tinubu. 

Recall that Tinubu finally sent the list to Senate President Godswill Akpabio on Friday morning, in line with the constitutional provision that the list should get to the National Assembly within 60 days after the presidential inauguration.

Wike, who was instrumental in the emergence of Tinubu’s presidency in the 2023 general elections, stirred reactions on the internet after the name of the former governor reportedly appearer amongst those who made the cut in the much anticipated Ministerial list.

 

Below is how Nigerians reacted to the development.

 

 

Gonzak wrote: Those expecting new faces on the ministerial list good morning. Nigeria is already a captured state by the political and ruling elites. The fight must be how to rescue our country.”

DignifiedEmma wrote: Wike, the sale out b**ch reportedly included in President Tinubu’s ministerial list.”

It is no longer news that when faced with difficult socio-economic conditions, Nigerians often resort to desperate measures to cushion the resultant effects.

Little wonder since President Bola Tinubu announced the discontinuation of the petrol subsidy during his inaugural speech on May 29, 2023, and the recent hike in the price of petrol, Nigerians have devised strategies to ameliorate the resultant effects.

For years, the Nigerian government subsidised the price of petroleum products, especially petrol, and kerosene, to alleviate the burden of high costs on consumers.

In the past, the subsidy removal was often met with public outrage and stiff resistance, because it would result in higher fuel prices for consumers which eventually led to protests and demonstrations.

However, such was not the case when President Tinubu stated during his inaugural speech that “fuel subsidy is gone” finally because it (subsidy) could no longer justify its ever-increasing costs.

He said; “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care, and jobs that will materially improve the lives of millions.”

 

Below are 10 things Nigerians are doing to survive the hardships imposed by subsidy removal.


Menial jobs/entrepreneurship
Since the prices of commodities have doubled and income has hardly increased, many Nigerians are beginning to engage in menial jobs, as well as establishing small-scale businesses to generate more income to support their families. This might include street vending, artisanal crafts, or starting small businesses.

Farming


No doubt, agriculture plays a significant role in the Nigerian economy, which is why during hard times, many people resort to subsistence farming to provide for their basic needs. Some of the farm produce may be sold to make more income, used as barter, or better still used as an alternative source of feeding for the family.


Seek family support


For most Nigerians, seeking family support in times of dire need is usually one of their most viable options in a bid to ameliorate the hardship they suffer. This sense of community helps to alleviate some of their financial challenges.

Seek spiritual support
In 2016, the Archbishop of Lagos, Adewale Martins, disclosed in an interview that the economic meltdown had seriously affected the church. According to him, many people that came to parish offices to see priests did so with the intention of seeking one form of assistance or the other. The case is the same in recent times as Nigerians have begun to seek financial help from the various churches they attend.

 

Barter


Before civilisation, bartering goods and services was a way to acquire necessities without necessarily using cash. This practice has gradually found its way back into society as Nigerians now make frantic efforts to sustain themselves in the face of the growing hardship.

 

Thrift contribution


Though thrift contribution has been in existence before now, because of the current economic realities, more people have begun to participate in informal savings groups or cooperative societies where members pool their money and take turns receiving lump sums, helping them tackle financial needs among other things.

 

Adaptation


As earlier mentioned, Nigerians often demonstrate resilience by adapting to changing circumstances and being flexible in their approach to emerging economic realities which eventually result in untold hardship.

 


Self-development


As difficult as this may seem, during challenging times, some individuals invest in education and skill acquisition to increase their employability or create new opportunities for themselves. This is one strategy many Nigerians have resorted to in recent times to improve their income.

 

Religious and community support


Religion and community involvement can provide psychological and emotional support during hard times, offering hope and a sense of belonging. This is also one of the things Nigerians are currently involved in to ease the hard times.

 

Government palliative


When available, Nigerians ensure they tap into whatever form of palliative the government offers as temporary relief for those in need. Currently, mixed reaction has continued to trail Tinubu’s proposed N8,000 palliative for 12 million poor families. However, Nigerians are expectant.

It’s important to remember that every individual’s circumstances are unique, and the strategies they employ to survive difficult times can vary widely. The above points serve as general observations based on the Nigerian context, and not every Nigerian will adopt all these strategies simultaneously.

Lagos State Governor, Babajide Sanwo-Olu, is set to submit the list of his commissioner nominees for second term to the state House of Assembly within the 60-day constitutional requirement.

The Fifth Alteration (No.23) which amended the Constitution of the Federal Republic of Nigeria, 1999 requires the President and Governors to submit the names of persons nominated as Ministers or Commissioners within 60 days after taking oath of office for confirmation by the Senate or State House of Assembly; and for related matters

Sanwo-Olu who dissolved his cabinet on May 26, was sworn-in for a second term on May 29.

And eight weeks running, he is yet to submit his Commissioner nominees to the state House of Assembly for confirmation.

Today makes it 58 days since the governor took oath of office, which means he has just two days left to meet up with the 60-day constitutional requirement.

But speaking in response to the delay, the Chief Press Secretary to the governor, Gboyega Akosile, told THE WHISTLER that Sanwo-Olu will beat the 60-day constitutional requirement.

“He’s going to meet up with the constitutional requirement of 60 days,” Akosile said.

The governor has been criticized for the delay in forming cabinet. THE WHISTLER recalls that a Senior Advocate of Nigeria (SAN), Ebun-Olu Adegboruwa, early this month, in a statement titled ‘Lagos Without a Cabinet’, had accused him of running a one-man show.

Adegboruwa had said that the state fund was being spent daily without commissioners and without an Executive Council duly constituted by the governor.

The senior lawyer noted that a state as cosmopolitan and complex as Lagos deserves a functional cabinet.

“Presently, Lagos State is operating without an Executive Council in place. The House of Assembly has since been inaugurated and its officers duly elected.

“Money is being spent daily without Commissioners and without an Executive Council duly constituted.

“His Excellency, Mr Babajide Sanwo-Olu is on the saddle for his second term in office, so he is not new. Dr. Alex Otti, who is a first-term governor, has since constituted his cabinet, so too Mr. Ademola Adeleke of Osun State.

“Governor Sanwo-Olu was sworn in for a second term in office on May 29, 2023. It is now well over one month and he seems to be running a one-man show. So too, the governors of Oyo and Ogun states, who are also on their second terms in office,” Adegboruwa had said.

“I, therefore, urge the governor to promptly constitute his cabinet without further delay so Lagos will not be on autopilot,” he added.

With 48 hours left, Sanwo-Olu is expected to submit the list of his Commissioner nominees between today and Friday.

Last modified on Thursday, 27 July 2023 06:59

An aide to the Senate President, Godswill Akpabio, Jackson Akpabio, has stated that President Bola Tinubu’s definitive ministerial list will be released today.

In a plea to curb speculation among Nigerians, Akpabio urged the public to await the announcement of the nominees.

Speaking with Punch, he said, “I saw the list too just like every other person did, let’s wait till tomorrow (today). Don’t speculate, tomorrow (today), you’ll see the list.”


Rumours were swirling regarding the early departure of both the Senate President, Godswill Akpabio, and the Deputy Senate President, Jibrin Barau, from the Senate building on Wednesday.

However, Jackson clarified that Akpabio remained within the National Assembly complex to inspect a building site.


He stated, “The Senate president’s outing this evening has nothing to do with the ministerial list, he went to inspect a church site within the complex.”

Today, the Senate is expected to reveal the list of ministers during its plenary, which is the constitutional deadline for the nomination. This will conclude the tense wait for the ministerial nominees.

A list of ministers that emerged on social media on Wednesday has caused confusion nationwide.

There has been widespread unease over the delay in the announcement of the ministerial list by President Bola Tinubu.

Many Nigerians have voiced concerns about the delayed formation of the president’s cabinet, particularly considering Tinubu’s promise of an immediate start.

In a statement on March 16, Tinubu committed to establishing a “government of national competence.”

The Fifth Amendment to the 1999 Constitution mandates the president to submit the names of their ministerial nominees for Senate confirmation within 60 days of their oath of office.


Having been sworn in as president on May 29, Tinubu is obligated by law to submit his ministerial list to the Senate by July 28 (today).

The constitution further requires the president to appoint at least one minister from each of the 36 states of the federation.

Over the past weeks, there has been speculation about those who will appear on the ministerial list, with various names emerging on social media.

A disputed list that circulated on Wednesday included the names of notable politicians such as former governor of Rivers State, Nyesom Wike; Sen. Aishatu Dahiru popularly known as Binani (Adamawa State); Sen. Andy Uba (Anambra); Alhaji Isa Yuguda (Bauchi State); Sen. Abubakar Kyari (Borno State) and former Cross River governor Sen. Ben Ayade.

Other names on the controversial list are Peter Godsday Orubebe (Delta State); Dayo Adeyeye (Ekiti State); Ifeanyi Ugwanyi (Enugu State) Sen. Rabiu Musa Kwankwaso (Kano State); Atiku Bagudu (Kebbi State); James Faleke (Kogi State); Gbemisola Saraki (Kwara State); Sen. Tanko Almakura (Nasarawa State).

Also on the list are former Speaker, of the House of Representatives, Oladimeji Bankole (Ogun State); ex-Osun Governor Gboyega Oyetola and former Plateau State governor, Simon Lalong.

The Bola Ahmed Tinubu-led federal government has stated that the Nigeria Labour Congress (NLC) cannot embark on a nationwide strike over the hike in the price of petrol and the high cost of living in the country.

Recall that the NLC had issued a seven-day ultimatum to the federal government to reverse all “anti-poor” and “insensitive” policies or face industrial action on August 7th.

According to the union, the anti-people policies include the recent hike in the price of petrol, and the sudden increase in public school fees, among others.


But in a statement, B.E Jedy-Agba, the permanent secretary at the ministry of justice, said an order of the national industrial court has restrained the union from embarking on any strike regarding the removal of petrol subsidy.

Jedy-Agba recalled that the industrial court had on June 5 granted an injunctive order restraining the NLC and Trade Union Congress (TUC) “from embarking on the planned industrial action/or strike of any nature, pending the hearing and determination of the pending motion on notice”.


She stated that rather than undermining the orders of the court, the union can explore other means of negotiations with the federal government.


The statement reads: “It is noted that the issues (removal of fuel subsidy, hike in prices of petrol and consequential increase in the cost of living, etc) which precipitated the above court action are the very same issues over which NLC has now issued another strike notice.

“The NLC has submitted to the jurisdiction of the court and is being represented by the reputable law firm of Femi Falana, SAN. It is therefore our minimum expectation that the NLC will allow the courts to perform their constitutional roles rather than resorting to self-help and undermining the orders of the court.

“We note with dismay that this latest strike notice is consistent with the inexplicable disdain which the NLC leadership has visited on the authority of the court in recent times following earlier inciting and derogatory remarks made by the NLC president against the court.

“Aside from the above legal inhibition against any strike action of any nature, we also note that both the federal and state governments are engaging with stakeholders to cushion the collateral effect of the removal of fuel subsidy and increment in fuel price.

“It would be a great act of service to Nigerian workers and the nation’s economy for NLC to explore negotiations rather than embark on any strike action.”

The much anticipated ministerial nominees list of President Bola Ahmed Tinubu will have the names of former Kaduna State Governor Nasiru El-Rufai, his Rivers State counterpart Nyesom Wike and eminent medical scholar Ali Pate.

A Senate source revealed that President Tinubu finally sent the list to Senate President Godswill Akpabio this morning, in line with the constitutional provision that the list should get to the National Assembly within 60 days after the presidential inauguration.

The deadline expires this weekend.

The list, which is a blend of politicians and technocrats, includes legal luminary Lateef Fagbemi (SAN); an economist Olawale Edun; banker Adebayo Adelabu, former Osun State Governor Adegboyega Oyetola, All Progressives Congress (APC) Women Leader Betta Edu, Senator Ben Ayade and Tinubu’s Special Adviser on Media, Strategy and Special Duties, Dele Alake.

Speaking to The Nation, the source, who could not also confirm the number of nominees, said the list reflected the national character and outlook of the President and the ruling party.


According to the source, the screening of nominees is likely to be held next week.

A source said Pate, a Harvard professor of medicine and former Minister of State (Health) in the defunct Jonathan Administration, is likely to hold the Health portfolio.

El-Rufai, a former Minister of Federal Capital Territory (FCT), headed the APC Panel on Restructuring. According to the source, he may be assigned to the Power Ministry.

Fagbemi, who hails from Ijagbo, Kwara State, is set to be appointed Minister of Justice and Attorney-general of the Federation.

Edun, one-time Lagos Finance Commissioner, is Special Adviser to the President on Monetary Policy.

Oyetola, a financial expert, was governor of Osun State between 2018 and 2022.

The APC Women Leader, Dr. Edu, is a former Health Commissioner in Cross Rivers State.

The nominee from Oyo State, Adelabu, retired as Central Bank Deputy Governor. In the last general election, he contested for governor on the platform of the Accord Party.

The Chairmen of the All Progressives Congress (APC) from the seven states of the Northwest have endorsed the aspiration of the former Governor of Kano State, Abdullahi Ganduje, to be the National Chairman of the party.

The party Chairmen, who met in Kaduna, made their position known in a a communique to newsmen on Wednesday.

They stated that Ganduje had contributed immensely to the success and development of the APC ,which informed their decision to endorse him for the leadership of the party.


The APC chairmen noted that Ganduje sojourned the whole country during the 2023 general election, making immense contributions, which saw to the emergence of Bola Ahmed Tinubu as President of Nigeria.

The communique was signed by all the 7 North West States Chairmen, namely; Hon. Isa Sadiq Acida, Sokoto State; Air Cdre. Emmanuel K Jekada (rtd), Kaduna State; Hon. Abubakar Muhammad Kana, Kebbi State, Prince Abdullahi Abbas, Kano State; Hon. Aminu Sani Gumel, Jigawa State; Hon. Tukur Umar Danfulani, Zamfara State and Hon. Muhammad Sani Ali, Katsina State.


“We the State Chairmen of the ruling All Progressives Congress APC from the seven States comprising Kano, Kaduna, Katsina, Sokoto, Kebbi, Zamfara and Jigawa that made up the Northwest Geopolitical Zone of the country rising from a meeting held in Kaduna on Tuesday, 25/07/2023, unanimously endorsed Dr. Abdullahi Umar Ganduje as the National Chairman of the party.”

“This decision followed the immense contributions made to the party by the two term governor of the second most populous state in the nation, Kano, especially at the 2023 general election which saw the emergence of our most enviable President Asiwaju Bola Ahmed Tinubu GCFR as President.

“It is on record that Dr. Ganduje sojourned the whole country making contacts and convincing Nigerians on what Nigeria and Nigerians stand to benefit should Tinubu emerge as president.

“We as leaders of the ruling party in our respective states have also gone through every step of good reasons and came to the conclusion and conviction that based on qualification, wealth of experience, maturity, steadfastness, commitment and resilience, Ganduje is the best person for the exalted office of chairman of the party, not only from the zone but in the country.

“Our continued appreciation will be undaunted to the President, Bola Ahmed Tinubu for the special recognition he has always accorded the zone, the people and the party at all times.

“The North West zone will always be with the president as he marches towards making Nigeria greater,” they stated.