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.

Ahmed Mohammed Rifun     Otunba Taiwo Joseph     Seni Saraki     CCT     Lotus Bank     Kayode Ibrahim     Yoonus Lawal     Stephen Fasakin     Adedipe     Ahmed Saidu Rufai     Hassan Oyeleke     Convocation Ceremonies     Akeem Lawal     Igbaja     Abdulquowiyu Olododo     Ajasse-Ipo     Agbarigidoma     Idris Amosa Saidu     UTME     Bola Sagaya     Kamaldeen Gambari     Playing Host     Asa LGEA School     Zulu Gambari     Niyi Ogundiran     Abubakar Abdullahi Bata     Yusuf Abdulkadir     Issa Memunat Moyosore     Alaiye     Centre For Community Empowerment And Poverty Eradication     Kwara 2019     Olatunde Olukoya     Federal Allocation     KSIRS     Ibikunle Ogunleye     Vasolar     Atiku Abubakar     Hijab     KWAFFA     Kwara State Printing And Publishing Corporation     Ayinde Oki     National Pilot     NIPR     Sobi Specialist Hospital     Alabere     Yetunde Balogun     Just Law Forum     Valsolar-Kwara Company Limited     Toyin Abdullahi     Sulyman Buhari     Abubakar Olusola Saraki     Mary Arinde     Ope Saraki     Kwara State Branch Of The National Library     Jimoh Saadudeen Muhammed     Ola Falade     Ejidongari     Alanamu     Bamidele Aluko     Arik     Police Commissioner     NaAllah     GAMA     Age AbdulKareem     Ballah     Kwara Polytechnic     Yusuf Babatunde Abdulwahab     Quareeb     Ajidagba     Ishola Balogun Fulani     Maimunat Oniyangi     Ayotunde Emmanuel Alao     Sunset Workers     Abdulwahab Oba     Muhammed Akanbi     Wale Oladepo     Modupe Oluwole    

Cloud Tag: What's trending

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

Lotus Bank     Alapado     Haruna Olawale Sulaiman     John Obuh     Ahmed Idris Mohammed     Kubra Kazum     Lawal Jimoh     Offa     Oko     Mohammed Khadijat Kubura     Adegoke Bamidele     Sardauna Of Ilorin     Saheed Alakoso     Samuel Elizabeth Keatswa     Haruna Tambiri Mohammed     Abikan     Okiki     AbdulRasaq Abdulmajeed Alaro     Sarafadeen Kayode Akorede     Adijat Adebiyi     Bashiru Makama     Prince Sunday Fagbemi     Ibrahim Sulu Gambari     Bamidele Adegoke Oladimeji     Kassim Babamale     David Oyedepo     Timothy Olatunde Fadipe     Ayodele Shittu     Kwara 2023     Gurei     Mansurat Amuda-Kannike     Baba Issa     Tinubu Legacy Forum     Naira Redesign     Abdulkarim Adisa     Summit University     Lanre Issa Onilu     April 11     Folashade Omoniyi     Ilorin.Info     Ahmad Ali     Abdullahi Adisa Akodudu     Ado Ibrahim     Abubakar Aliagan     Computer Based Test     Funmilayo Braithwaite     Iqra Books     Ajakaye     Tsado Manman     Musbau A. Akanji     Universal Basic Education Commission     Lawal Arinola Kudirat     Kolade Solagberu     Abdulmutalib Shittu     Lanre Issa-Onilu     Usman Rifun     Photo News     Niyi Osundare     Abdulmumini AbdulRazaq     Buari Edun     Ibrahim Abdulqadir Abikan     Jamiu Oyawoye     Ramat Oganija     Moshood Bakare     SSA Youth Engagement     Ebola     Ibrahim Mashood     Women Radio     Radio Kwara     NIPOGA     Sabi     Temitope Ogunbanke     Raheem Adaramaja     Arandun     Iyaloja-General     Saliu Oluwole     Logun