Connect with us

Trending

IMF Urges FG to Discontinue Electricity Subsidy

Published

on

Spread the love

 

The Nigerian government has been advised by the International Monetary Fund to eliminate what it has described as hidden subsidies on fuel and electricity.

In a recent report from the IMF, Nigeria was informed that subsidies are expected to consume three percent of the country’s Gross Domestic Product in 2024, a notable increase from the one percent in the previous year.

As per the report, the IMF praised the Federal Government for its decision to gradually eliminate expensive and inequitable energy subsidies. The IMF stated that this action is crucial for freeing up financial resources for development initiatives, enhancing social safety nets, and ensuring sustainable debt levels.

IMF said, “once the safety net has been scaled up and inflation subsides, the government should tackle implicit fuel and electricity subsidies”.

“With pump prices and tariffs below cost-recovery, implicit subsidy costs could increase to 3 per cent of GDP in 2024 from 1 per cent in 2023. These subsidies are costly and poorly targeted, with higher income groups benefiting more than the vulnerable”.

“as inflation subsides and support for the vulnerable is ramped up, costly and untargeted fuel and electricity subsidies should be removed, while, e.g., retaining a lifeline tariff”.

Trending

Tenant St£bs Landlord For Disconneting his Light Over Unpaid Electricity Bills”

Published

on

Spread the love

Tenant St£bs Landlord For Disconneting his Light Over Unpaid Electricity Bills”

“This is how I end up on Friday night my Tenant Abakiliki Man from izza ebonyi state stabbed me with poisonous dagger around 9:43pm on Friday till now I am fighting for my life at hospital over unpaid NEPA bill of ,N9250 , if the pains I sustained from my stomach continues I might be transferred to new hospital for further treatment or surgery” —Tochukwu Nnaji

Continue Reading

Trending

Abuja-based lawyer Stan Alieke has withdrawn from representing singer Speed Darlington in his ongoing legal battle with Burna Boy.

Published

on

Spread the love

Abuja-based lawyer Stan Alieke has withdrawn from representing singer Speed Darlington in his ongoing legal battle with Burna Boy.

This development comes after Speed Darlington’s release from Kuje prison this January, following a two-month detention.

Speed Darlington was freed after being granted bail, and his lawyer, Stan Alieke, confirmed his release on Instagram, expressing determination to seek justice for the alleged illegal detention and violation of Speed Darlington’s fundamental human rights.

Ekwutosblog reported that the singer’s detention stemmed from his accusation that Burna Boy had an immoral relationship with American rapper and music executive Diddy.

Following Speed Darlington’s release, Burna Boy issued a stern warning on Instagram, cautioning Speed Darlington against misbehaving again.

The reasons behind Alieke’s withdrawal are unclear, but possible factors could include professional disagreements, personal reasons, or the complexity of the case.

Continue Reading

Trending

ANAMBRA POLICE ARRESTS FOUR SUSPECTS INCLUDING A LADY ALLEGEDLY INVOLVED IN THE BURNING OF A 74-YEAR OLD WOMAN IN A WHEELCHAIR AT ABAGANA AND INITIATES MOVE TO ARREST THE MAIN SUSPECT

Published

on

Spread the love

 

Recovers a casket, the remains of the deceased and her wheelchair

The Anambra State Police operatives serving at Abagana Divisional Police Headquarters today 26/1/2024 by 9 am arrested four suspects including a 21-year old lady Chinenye Ekwenugo from Ifitedunu over the burning of a 74 (seventy-four) years old woman in a wheelchair at Abagana.

The three other suspects include Uzochukwu Okeke ‘M’ aged 47, Fidel Anayo ‘M’ aged 60
and Ikenna Anene ‘M’ aged 54 years respectively, all from Abagana. The Operatives also recovered the burnt remains of the deceased, the wheelchair, and a casket.

During interrogation by the Police Operatives, the suspect, Chinenye confessed that her boyfriend Ifeanyi Igwe who is currently at large and three others set the victim ablaze and got a casket to bury her before the intervention of the security operatives.

Meanwhile, the Operatives have also initiated moves to arrest the main suspect Ifeanyi Igwe who is currently on the run. The body of the deceased has been deposited in the morgue for autopsy and further probe of the cause of the death.

The Commissioner of Police *CP Nnaghe Obono Itam* while reacting to the report of the incident sued for calm and ordered the immediate transfer of the case to the Homicide Section of the State Criminal Investigation Department of the Command for a comprehensive investigation. Further developments shall be communicated, please.

SP Tochukwu Ikenga
Police Public Relations Officer,
Anambra State Police Command.
Awka.

26th January, 2025
-Admin Nkwelle

Continue Reading

Trending