News
I disagree with Dangote on complete removal of fuel subsidy — Okupe
Okupe expressed the position in an interview with the News Agency of Nigeria(NAN) in Lagos.
NAN reports that Dangote, owner of the 650,000 barrels per day crude oil refinery in Lagos, had in an interview with Bloomberg urged the Federal Government to end fuel subsidy completely.
Speaking during the 26-minute interview in New York on Monday, Dangote said the time was right to end subsidy, which, he said, had cost the country trillions of naira .
Reacting , Okupe said: “With utmost respect, I disagree with Aliko Dangote on his suggestion that the government should completely end subsidy now.
“Petrol is the economic oxygen of Nigerians, wether rich or poor. This is not the situation in other countries of the world.”
The former Director-General, Peter Obi Presidential Campaign, said that with the coming up of local refineries, some level of succour should be given to Nigerians.
According to him, with the allocation of 450,000 barrels a day for local consumption, Nigeria can combine the advantage of local production with local consumption and determine the price to sell to crude to local refineries.
“We can use opportunities that these local refineries avail us, ensuring adequate fuel supply with the dedicated or allocated daily crude oil for local consumption, which is outside OPEC quota.
“So, whatever we do with it is our internal affairs, it is a way of providing some level of comfort.
“We can sell this daily crude oil allocation for local consumption cheap to determine average pump price of PMS (Premium Motor Spirit) in the country.
“For instance, the price of Nigerian crude per barrel is $77, we can decide to sell to Dangote refinery at $35 or $37 per barrel, thereby having made adjustments of processing fees and profit margin, the pump price of petroleum can actually come down to N500 or N600 per litre.
“This will definitely bring a major relief, comfort and succour to the masses,” he said.
Okupe said that ending importation of petroleum products would reduce the tension and pressure on foreign exchange demand by 40 per cent.
“This will give economic oxygen to Nigerian people, encouraging enterprises and local businesses because we all in Nigeria, rich and poor, depend on petrol as an economic oxygen.
“Every nation has a sector where it stands behind the people,” he added.
Okupe described President Bola Tinubu administration’s bold step on fuel subsidy as excellent and commendable.
He said that the President had done a great job by courageously removing subsidy and eliminating multiple exchange rates.
According to him, the President’s reforms have taken root in the economic system.
“It is something very brave that no other previous administrations have had the courage to go through it.
“What the President did was actively like biting the bullets and he has been courageous enough to persevere and persist through it.
“Having done it for more than a year, my feeling and belief is that we have made enough gains, and because these refineries are upstream, we can consolidate on those gains and release the pressure on the masses a little bit.
“Fortune has played in our hands by the coming upstream of the Dangote refinery, Port Harcourt refinery and other refineries that will follow,” he said.(NAN)
News
Lawyers Storm National Assembly To Demand Constitutional Take-Over Of Benue, Zamfara Houses of Assembly Over Suspensions
Lawyers numbering over 1,000 who came together from across the country under the Save Benue and Zamfara coalition early this morning petitioned the National Assembly to take over the functions of the Benue and Zamfara State Houses of Assembly.
The coalition, during a peaceful protest on Tuesday at the National Assembly complex, argued that the two houses are unable to perform their constitutional duties due to internal crises and alleged interference by the state governors.
The petition lamented that in Zamfara, 10 lawmakers have been suspended since February last year, on the instructions of Governor Dauda Lawal for raising alarm over the rising insecurity in the state.
Similarly, in Benue, they stated that 13 members of the House of Assembly were suspended for allegedly refusing Governor Hyacinth Alia’s instruction to suspend the Chief Judge of State.
The coalition, led by Barr. Sambari Benjamin, is urging the National Assembly to invoke Section 11(4) of the Constitution, which allows the parliament to make laws for the peace, order, and good government of a state when the House of Assembly is unable to perform its functions.
The lawyers warn that if the situation is not addressed, it may lead to a state of emergency being declared in the two states.
They also expressed concern that the crisis could spread to the National Assembly, potentially threatening its stability.
The coalition therefore requested the Senate President, Senator Godswill Akpabio, to urgently intervene and take over the functions of the Benue and Zamfara State Houses of Assembly to restore democratic rule and stability in the two states.
The petition partly reads: “We write to request the urgent intervention of the Senate under your able leadership to forestall the demise of our democracy in instalments. Following the National Assembly ratifying the state of emergency that President Bola Tinubu proclaimed in Rivers State, we fear that Benue and Zamfara States are on the way to coming under emergency rule unless urgent constitutional steps are taken to remedy the anomalies that exist in both states.
“Our fears are that all of Nigeria’s 36 states would come under emergency rule if the Senate does not step in to demonstrate its commitment to the sustenance and protection of democracy by coming under Section 11 (4) of the Constitution of the Federal Republic of Nigeria (as amended) to take over the functions of the two Houses.
“Our request is predicated on Section 11(4) of the 1999 Constitution of the Federal Republic of Nigeria as amended, which provides that ‘At any time when any House of Assembly of a State is unable to perform its functions by reason of the situation prevailing in that State, the National Assembly may make such laws for the peace, order and good government of that State with respect to matters on which a House of Assembly may make laws as may appear to the National Assembly to be necessary or expedient until such time as the House of Assembly is able to resume its functions; and any such laws enacted by the National Assembly pursuant to this section shall have effect as if they were laws enacted by the House of Assembly of the State: Provided that nothing in this section shall be construed as conferring on the National Assembly power to remove the Governor or the Deputy Governor of the State from office.’
“Allowing this situation to continue will end in President Tinubu proclaiming state of emergency in both places and suspending the assemblies, by which time the National Assembly will no longer be able to take over the functions these states’ house of assembly as constitutionally stipulated. By then the National Assembly can only ratify the emergency rule as would be proclaimed by Mr. President.
“Furthermore, it is a matter of time before the crises that have incapacitated the Benue House of Assembly and Zamfara House of Assembly are introduced to the Senate and indeed the National Assembly, which would make negative history with the President again leveraging the Constitution to dissolve the parliament. The panacea is for the Senate to show the leadership needed at a trying time like this.”
The Federal High Court in Abuja, on Tuesday, banished Favour Kanu, wife of Prince Fineboy Kanu, the younger brother of Nnamdi Kanu for streaming the proceedings of the court live on her Facebook page.
Kanu, leader of the Indigenous People of Biafra (IPOB), is being prosecuted by the Federal Government for alleged terrorism.
Justice James Omotosho, who gave the order, after Mrs Kanu admitted engaging in the act and apologised to the court, held that she would have been charged for contempt of court.
Although Kanu’s lawyer, Chief Kanu Agabi, SAN, also apologised on her behalf, Justice Omotosho insisted that Mrs Kanu would be barred from three proceedings.
The judge expressed surprise that despite that Mrs Kanu’s phone was confiscated on the last adjourned date when she was caught recording him, she still went ahead to post the video online.
“I want to hear from her. Were you not the one that I took your phone?
“I did not give order to forfeit that phone. I don’t know if she might be a wife to my brother (Nnamdi Kanu),” the judge said.
The judge, who cautioned against any act that could cause delay in the trial, assured all parties in the case that justice would be served. (NAN)
Controversial social media commentator, Mr. Martins Innocent Otse, widely known as VeryDarkMan, has been granted administrative bail by the Economic and Financial Crimes Commission (EFCC) and will be released upon meeting the required bail conditions.
The anti-corruption agency disclosed that the arrest stemmed from multiple petitions received against the social media figure, alleging involvement in financial misconduct.
This information was shared by the EFCC on its verified Facebook page on Tuesday, where the commission elaborated on the grounds for the arrest.
“The Economic and Financial Crimes Commission (EFCC), in fulfilling its mandate to combat economic and financial crimes, invited Martins Innocent Otse due to a series of petitions concerning various allegations of financial offenses against him,” stated the EFCC.
The agency further noted that Otse failed to respond to several invitations sent to him at his known addresses and through other communication channels.
The EFCC emphasized that the petitions involve serious accusations of financial wrongdoing that warrant attention.
“It is important to acknowledge that the Commission is aware of the numerous unrestrained criticisms directed at its operations by the suspect. While such behavior is regrettable, his arrest was not motivated by these criticisms. The appropriate law enforcement agencies will investigate these matters,” the EFCC clarified.
In executing the arrest and subsequent detention, the commission confirmed that it obtained the necessary remand order. It stated, “He has been granted administrative bail and will be released once all bail conditions are satisfied.”
The EFCC appreciates the public’s interest in its operations and welcomes the enthusiasm and varied reactions to its activities.
“However, speculations regarding the motives behind our actions should cease. The EFCC must be allowed to perform its duties impartially. Charges will be filed as soon as investigations are concluded,” the Commission stated.