Connect with us

Politics

Palliative: Financial expert warns Tinubu against sharing N8,000 to poor Nigerians

Published

on

A financial expert, Gbenga Adeoye, has asked President Bola Tinubu to quench the plan by his government to distribute N8,000 to 12 million poor Nigerians in six months.

Recall that the President, on Thursday, requested N500 billion from the National Assembly, supposedly to be distributed to poor Nigerians as palliatives to cushion the effects of the fuel subsidy removal.

In the letter, Tinubu explained that his government would transfer N8,000 a month to 12 million poor and low-income households with a multiplying effect on about 60 million individuals.

But Adeoye, in an interview with newsmen, told the President that he would not be able to cushion the effect of subsidy removal through the planned distribution of N8,000.

While alluding to the fact that Tinubu was prepared for the job due to the actions he took immediately after he assumed office, Adeoye, however, said “I have been disturbed by the plan of the Tinubu government to give N8,000 cash palliative to 12 million poor Nigerians for six months.”

Explaining why the cash palliative should be avoided, the Chartered Accountant said that N8,000 to 12 million Nigerians will amount to N96 billion a month and N576 billion in six months.

“Cash palliative does not befit a country that has not reached optimal production level, it is good in a country that has attained optimal production level but the people are restricted from going out to work. An example of such is the United States of America where cash was distributed during COVID-19 Restrictions because people could not go out to perform their economic activities,” he explained.

In his recommendations, the Tax expert suggested that the Federal Government acquire 200 buses per senatorial district at N30m per bus, stressing that N666 billion would be spent on acquiring 22,200 buses.

“This will reduce the cost of transportation if handed over to relevant stakeholders to manage.

“Ensure regular maintenance and run it as a pure business but regulate the rate based on locations. Make monthly tickets available. USE card over time like in OYSTER Card in the UK.

“Ensure there are savings from the income generated from the buses to be able to replace them after five years. Let no politician use the bus for free.

“All Nigerians will benefit from this as most people will no longer have to worry about the high cost of petrol,” he stated.

The lawyer also suggested giving N1,000,000 to 600,000 entrepreneurs, who will engage in petty businesses and will be able to employ four other Nigerians.

”The money, he said, should be paid back over a period of 10 years at a 2 or 5 percent maximum rate and if possible, at no interest since N576bn proposed by Federal Government is a free gift anyway.”

Adeoye informed that this will create 3 million direct and indirect employments.

Expressing further concerns about the planned N8,000 palliative, he asked: “How do we determine the poor Nigerians? How do we ensure the spread across the country? What will N8,000 do monthly?”

The UK Arbitrator said, “In my considered opinion, that move will not solve the poverty problem and hardship arising from fuel Subsidy removal.

”To give N8,000 per month is to give N266.67 per day. This will not produce the desired result as it means giving less than N90 per meal if it is assumed that the so-called poor will eat three times daily.

“The worst aspect of cash palliative is that people return to their level at the end of the programme, and that will cause more havoc after 6 months and can lead to unrest.

“Lastly I repeat, Mr President, please do not give out cash palliative of N576b. The amount is too much for such and the two alternatives enumerated above will have better impact than N266.67 per day to 12 million Nigerians.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics

2027: LP, PDP merger possible – Atiku

Published

on

The 2023 presidential candidate of the Peoples Democratic Party, former Vice President Atiku Abubakar, said a merger between the PDP and Labour Party is possible.

Atiku added that members of the party would decide his fate in the 2027 general elections.

In a recent interview, Atiku said it was too soon to determine if he would run for the presidency in the upcoming elections.

The former Vice President mentioned that his recent meeting with Labour Party presidential candidate Peter Obi might indicate a possible alliance leading up to the 2027 general elections.

Responding to questions about the meeting with Obi, Atiku said, “It’s just a normal friendly meeting that we often have, particularly among us in the opposition parties. Such meetings are healthy for Nigeria’s democracy and in the country’s interest.”

On whether this will bring about a merger, he said, “Yes, it’s very much possible. We can merge to achieve a common goal. So, it’s possible, and nothing can stop it if we wish to achieve that.”

The former Vice President, who denied that the choice of presidential candidate might frustrate the merger discussion, said, “That’s not true. That challenge will not arise. I can tell you that the choice of who will fly the flag of the party won’t be an issue.”

Atiku stated that if in 2027 the party determines that it is the South-East’s turn and selects Peter Obi, he will readily offer his support.

He stated ” I have said repeatedly and I even said it before the 2023 general elections that if PDP decides to zone the presidential ticket to the South or South-East specifically, I won’t contest it. As long as it’s the decision of the party, I will abide by it. But I contested the 2023 presidential ticket because it was thrown open to all members of the party.

“If the party decides that it’s the turn of the South-East and Peter Obi is chosen, I won’t hesitate to support him.”

On why he’s still in active politics, Atiku said, “Yes, we can’t keep quiet and watch things go wrong. People are suffering and we are committed to making Nigeria a better place.

“It means you are not tired of politics of Nigeria? Not at all. I am still in active politics in Nigeria, at least, as long as God permits.

“My age doesn’t stop the young ones from testing their fate. Everybody, irrespective of age, is allowed to aspire to be anybody in the society, politically or otherwise.”

Regarding his 2027 Presidential ambition, the former Vice President said “That would depend on the decision of my party. I can’t make any categorical statement on that. It’s the duty of the party to decide on the way to go in the next election.

“Until that time comes. Let’s just wait and see how it will turn out.

“It must not be interpreted like that. I must not be eyeing elections to have meetings with political friends and associates. Currently, we are practising democracy in this country which we fought for with our blood.”

Last week, Labour Party’s presidential candidate Peter Obi held a private meeting with former Vice President Atiku Abubakar and several PDP leaders in Abuja.

Obi also met separately with former Jigawa State Governor Sule Lamido and former Senate President Bukola Saraki, sparking speculation about a possible coalition for the 2027 general elections.

Obi was a PDP member until 2022 when he left to pursue his presidential ambitions with the Labour Party.

He finished third behind Atiku in the February 23 presidential election, which was won by Bola Tinubu of the All Progressives Congress.

Atiku blamed Obi’s departure from the PDP for his loss to Tinubu.

Continue Reading

Politics

Bribery allegations: Kano court fixes date for Ganduje’s arraignment

Published

on

Kano State High Court No. 7 has re-scheduled the arraignment of the National Chairman of All Progressives Congress, APC, Abdullahi Ganduje to June 5.

Ganduje is standing trial alongside his wife Hafsat Umar, his son, Abdullahi Umar and five others

The defendants in the case included Abubaka Bawuro, Jibrilla Muhammad, Lamash Properties Limited, Safari textile Ltd., and lasage General Enterprise Ltd

Kano State High Court No. 5 presided over by Justice Usman Na’abba had earlier scheduled May 16 for ruling on the request substituted service on the defendants.

This was before the State Chief Judge, Justice Dije Aboki reassigned the case to High Court No 7 presided by Justice Amina Adamu.

The new charge sheet sighted contained 11 count charges against the initial eight count charges against Ganduje and his co-defendants.

They include allegations bordering on criminal conspiracy and criminal breach of trust.

Continue Reading

Politics

Edo elections: INEC to commence distribution of 373,030 uncollected PVCs

Published

on

Over 373,030 uncollected Permanent Voter Cards (PVCs) will be redistributed to the owners from May 27, the Independent National Electoral Commission (INEC) has revealed.

Speaking at a stakeholders’ meeting on the forthcoming Continuous Voter Registration (CVR) exercise, the state Resident Electoral Commissioner (REC), Dr Anugbum Onuoha stated that the PVC collection exercise would be done side-by-side with the CVR exercise, also scheduled for May 27.

Recall that the INEC Chairman, Mahmood Yakubu, had announced to begin the CVR exercise in Edo and Ondo ahead of the governorship elections in the two states.

Onuoha says while the statistics of registered voters in Edo is 2,501,081, collected PVC is 2,128,288 and uncollected PVCs stand at 373,030.

He said both the CVR and the PVC collection would be a 10-day exercise, starting from May 27 to June 5, from 9.00 a.m. to 3.00 p.m. daily, including weekends.

The REC explained that the exercise would be conducted in the 192 wards and the state headquarters of INEC in Edo.

He also disclosed that each registration centre would be managed by two officials drawn from the commission and the National Youth Service Corps (NYSC).

“In addition to the registration of voters, the commission will also make available the uncollected PVCs for collection during CVR.

“Also note that no PVC will be collected by proxy. Registered voters should come in person to collect their cards.

“There will be no pre-registration option because of time constraints,” he said.

Onuoha, however, appealed for the support of the media, Civil Society Organisations (CSOs), traditional rulers and religious leaders in encouraging voters to locate and pick up their PVCs.

According to him, the commission has published the final list of candidates for the Edo governorship election following the conclusion of primaries of the political parties.

The Deputy Director, Voter Registry, INEC Abuja, Mrs Doris Kande-Wyom, who took stakeholders through CVR processes, appealed to them to mobilise prospective registrants for the exercise.

Continue Reading

Trending