News
Atiku Calls For Fuel Price Reduction, Suspension Of Stamp Duty
An opposition Leader, Atiku Abubakar, has called for a reduction in fuel price to help Nigerians cope with the impact of the coronavirus on the economy.
Abubakar also called for the suspension of stamp duty charges collected on electronic money transfers.
The former Presidential Candidate stated this in a statement on Tuesday night.
“As the landing cost of Premium Motor Spirit, also known as petrol, has reduced significantly, it is strongly recommended that the government should not absorb the savings, but should pass it on to the Nigerian people by way of reducing the pump price of PMS to reflect the current prevailing market costs,” he said as part of his advice to the government on economic actions to take amidst the coronavirus.
Petrol currently sells across Nigeria at an official price of about N145 per litre. Nigeria, despite being an oil-producing country, imports almost all of its refined petroleum products.
The significant reduction in international crude oil price, from about $60 a barrel two months ago to about $30 a barrel means the landing cost of petrol to Nigeria has also reduced.
Read Atiku Abubakar’s full statement below.
Nigeria Must Take Decisive Economic Action to Protect Our People from the Ravages of the Corona Virus
The coronavirus is raging in the world and not just ravaging human beings, it is also affecting economies. Nigeria is not an island onto itself, and we must take measures to protect the economic well being of our nation and people.
Every action that can be taken to ease the cost of doing business in Nigeria and reduce the cost of living, while promoting consumer confidence must be implemented.
All hands must be on deck in a multi partisan manner to ensure that Nigeria does not return to economic recession. This is possible with decisive leadership and disciplined management.
As such, I recommend that policies like the Stamp Duty on all types of accounts be temporarily suspended, until such a time as the nation’s economy has turned the tide in the fight against this virulent scourge.
Furthermore, as the landing cost of Premium Motor Spirit, also known as petrol, has reduced significantly, it is strongly recommended that the government should not absorb the savings, but should pass it on to the Nigerian people by way of reducing the pump price of PMS to reflect the current prevailing market costs.
In addition to these measures, the government is urged to request large scale industrialists and employers of labour not to disengage workers. Definitely, this scourge will affect their production and profitability. However, if they know that the government is behind them and will do all to support them, they are less likely to disengage workers.
These are extraordinary times, and we as a nation must take extraordinary measures to protect the entire nation. Nigeria is our collective home, as such, we must suppress every partisan disagreement and think and work patriotically to ensure our national survival in the midst of global uncertainty.
President Bola Tinubu has officially flagged off the 2024 main Christian pilgrimage to Israel and Jordan.
This was contained in a statement by the Deputy Director and Head of Media and Public Relations of Christian pilgrimage, Celestine Toruka, and published on the Commission’s official X handle on Monday.
The president, represented by the Secretary to the Government of the Federation, George Akume, urged pilgrims to view their journey as an opportunity to strengthen their faith in God.
He noted that the theme of the 2024 pilgrimage, “Pilgrimage of Renewed Hope for Total Restoration,” aligns with the vision and agenda of his administration.
The president called on the intending pilgrims to pray for the progress of Nigeria, Lagos State, and their families.
Tinubu warned the pilgrims against absconding while in the Holy Land, stressing that there is no better place than home.
The Petroleum Products Retail Outlets Owners Association of Nigeria, PETROAN, has urged Nigerians to expect a reduction in the pump price of the product within the week.
It should be recalled that last week, the Nigerian National Petroleum Company Limited, NNPCL, and the Dangote Refinery reduced the ex-depot price of petrol to N899 per litre in Lagos.
PETROAN President, Billy Gilly-Harry, spoke on when the price change will take effect while appearing on Monday’s edition of Channels Television’s breakfast show, Sunrise Daily.
“But I believe from today when members start loading from both NNPC and Dangote at this new price reduction, it will reflect in the market.
“But also I’ll give kudos to some of our members, some of the leaders in PETROAN, you know, that have done so well, especially in Abuja, for even reducing their prices to below N1,000 before even this announcement.
“So, we don’t encourage our members to try to sell products at a loss because our focus is to serve Nigerians. And the only way we can serve Nigerians is when we have the resources to be able to do that.
“The resources can only be there if we’re making marginal profit enough to pay for the cost of money and make sure that we continue to do business. So, never mind, you’ll see the translation of this reduction of prices in the retail outlets hopefully within the week,” he said.
According to him, the inability of members to sell in line with the new ex-depot price is due to some of them having old stocks that were bought at higher prices.
The PETROAN boss commended Dangote Refinery and NNPCL for the reduction in the price of the commodity.
Federal Government has declared Wednesday, December 25, 2024, Thursday December 26, 2024, and Wednesday January 1, 2025 as public holidays to celebrate Christmas, Boxing Day and New Year respectively.
The Minister of Interior, Dr. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government extended warm greetings to all Nigerians, urging them to use the festive period to reflect on the values of love, peace, and unity that the season signifies.
In a statement, Tunji-Ojo emphasised the importance of the season as a time to
foster harmony and strengthen bonds across families and communities.
The minister also called on Nigerians to remain committed to the peace, unity and progress of the nation for national development.
“The Christmas season is a good moment for both spiritual reflection and national renewal. As we celebrate the birth of Jesus, the Prince of Peace, let us demonstrate kindness and extend goodwill to one another, irrespective of our differences,” Tunji-Ojo, said.
He assured citizens of the Federal Government’s continued commitment to ensuring peace, security, and prosperity across the nation.
While wishing Nigerians a merry Christmas and a prosperous 2025, the minister expressed his confidence in the Renewed Hope Agenda of President Tinubu’s Administration ushering in the new year, a better and prosperous economy that will be the envy of the world.
Tinubu unveils 2024 Christian pilgrimage to Israel, Jordan
Reduction in fuel pump price to reflect at filling stations within the week – PETROAN
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