Nigeria's broke - Lai Mohammed

Date: 2016-05-19

The Federal Government has said it increased the price of petrol to raise money to run the system, since the country was broke. Government said Nigeria's foreign earnings had drastically reduced in recent times and that the only way out of its present financial quagmire was to look inwards to generate more money.

Information Minister, Mr. Lai Mohammed, stated these while briefing newsmen at the end of the Federal Executive Council meeting, chaired by President Muhammadu Buhari, yesterday. Lai-Mohammed Also at the briefing were Attorney General of the Federation and Minister of Justice, Abubakar Malami; Minister of Power, Works and Housing, Mr. Babatunde Fashola, and Labour Minister, Dr. Chris Ngige. Mr. Lai Mohammed said: "The current problem is not really about subsidy removal. It is about the fact that Nigeria is broke. Pure and simple.

"It is like when somebody who has been earning N100,000 a month is faced with a situation where his employer says, henceforth you will be earning N10,000 a month. He would need to make some very painful decisions and some very painful adjustments.

That is the situation with Nigeria today." Also speaking, Dr. Ngige denied allegations that government was encouraging labour factionalisation by negotiating with both Ayuba Wabba and Joe Ajaero factions at separate meetings to forestall the strike. Ngige said the door is still open for talks with the Federal Government, noting that "we are ready to discuss with anybody, even civil society groups. As a government, we will not encourage factionalisation."

Similarly, Malami faulted the criticisms arising from the Federal Government's legal approach for injunction against the industrial action, saying it was necessary, especially as NLC did not give the government the constitutional 15 days notice. On the waiver granted Dangote Group for the construction of a section of Lokoja-Obajana-Kabba-Ilorin Road, specifically the section between Obajana-Kabba Road, Mr. Fashola said the road was important for the infrastructure development of the country. He said: "Companies are ordinarily supposed to pay income tax. There are existing policies in our laws which enable government to consider and give tax incentives.

"Council considered and approved the proposal for Dangote Construction Company to build that section of the road because the tonnage of cement being produced from the factory has increased and the traffic in that area has increased; there has been unfortunate accidents also."

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Iyaloja-General     V.O. Abioye     Lanre Issa-Onilu     Colleges Of Education Academic Staff Union     Jelili Yusuf     Taofik Abiodun Ahmed     Standard Organization Of Nigeria     Eruku     Lateef Ademola Olatunji     Lanre Jimoh     Nigerian Supreme Council For Islamic Affairs     Afetu Of Alabe     NFAI     Babaloja-General     Anilelerin     Lateef Fagbemi     Abubakar B.M     Ibrahim Taiwo     Aminat Omodara     Just Event Online     Face Masks     Tunji Moronfoye     Saka Isau     CKNG     Madawaki Of Ilorin     Bayo Ajia     Grillo     Taiwo Joseph     Curfew     Nurudeen Mohammed     Yusuf AbdulRasheed     Pategi     Mustapha Olanipekun     Muhammad Fawaz Abubakar     Suleiman Idris     Bilikisu Gambari     KWASEIC     Erubu     Musa Ayinla Yeketi     Ilesha-Baruba-Gwanara     Dairo Kunle Paul     Adamu Ibrahim Sabi     Alanamu     Yusuf Aiyedun     Ibrahim Agboola Gambari     Saka Aleshinloye     Rafiu Ajakaye     ER-KANG     Monkey Pox     Ayinde Oki     Moses Salami     Moronfoye     Aliyu Umar     Abdulrasheed Akogun     Valsolar-Kwara Company Limited     Ayotunde Emmanuel Alao     Saliu Alamoyo     Mohammed Ghali Alaaya     Magaji Are     Suleiman Abubakar     Sidikat Akaje     Abdulbaqi Jimoh     Aliyu Salihu     Abdullahi Adisa Akodudu     Yahaya Dumoye     Bello John Olanrewaju     Mufutau Olatinwo     Tafida Of Ilorin     Ilorin Likeminds Foundation     Ajasse-Ipo     JSSCE     Vasolar     Abdulmumini AbdulRazaq     Iyabo Adisa Ibiyeye     Bolaji Aladie     Mustapha Akanbi     Hassan Oyeleke    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Omotoso Musa     Gobir     Olatunji Ibrahim     Abdulkarim Adisa     Issa Baba     Imodoye Writer’s Enclave     Nurudeen Mohammed     Olaiya Zuberu     Congress For National Consensus     Government House     Umar Bayo Abdulwahab     Kayode Laro     Moses Afolayan     ER-KANG Mining Nigeria Company Limited     Pakata Patriots     Otoge     Y.A. Abdulkareem     Kumbi Titiloye     Principal Private Secretary     Abdulrahman Abdullahi Kayode     Okin Biscuits     Labaeka     Wahab Kunle Shittu     NTA Ilorin     Oba Abdulrahim     Memunat Monsuma     Isiaka Abdulrazak     International Public Sector Accounting Standards     Millennium Development Goals     Otuka     Bello Oyedepo     Abdulrazak Shehu Akorede     M.Y. Abdulrahaman     Agboola Babatunde     Kwara Coalition Of Business And Professional Associations     Musa Aibinu     Olateju Lukman     Mohammed Lawal Bagega     Sabo-Oke     Zubair Folorunsho Erubu     Rafiu Olasile     Moses Adekanye     Saadu Yusuf     Abdulrazaq Akorede     Boko Haram     Saad Omo\'ya     Kwara State Infrastructure Development Fund     Lanre Issa Onilu     Adeleke Ogungbe     Gbugbu International Market     Sa\'adatu Modibbo-Kawu     Toyin Abdullahi     John Kehinde Salako     Yusuf Abdulwahab     Jawondo     Olukotun Of Ikotun     Federal Road Maintenance Agency     The Herald     Salami Adekunle     Ilorin South Constituency     Yashikira     Yusuf Arowosaye     Muideen Olaniyi Alalade     Oyeyemi Olasumbo Florence     Buari Edun     NYSC     Esinniobiwa Quareeb     Sheikh Ridhwanullah El-ilory     Wahab Egbewole     Doyin Group     Chief Imam Of Omu-Aran     Adaramaja     Ibrahim Issa Jetti     Kwara Pdp     Okanlawon Taiwo     Olayinka Olaogun     ER-KANG Mining