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.

Sunday Otokiti     Olupako Of Share     Olatunji Ayeni     Egbewole     Gobir     Abdul Jimoh Mohammed     Offa Grammer School     Jelili Yusuf     Freshvine Nigeria Limited     Damilola Yusuf Adelodun     Ahmed Shuaib Buranga     Funmi Salau     Shade Omoniyi     Sunday Popo-Ola     LAK Jimoh     CCB     Ahmad Lawan     Olatunji Moronfoye     Gbemisola Oguntimehin     Computer Based Test     Ayekale     Oyeyemi Olasumbo Florence     Segun Adeniyi     Dapo Teni Nig Enterprise     Federal Polytechnic Offa     Otuka     Split Diamond Interchange     Yomi Ogunsola     Hussein Olokooba     Laolu Saraki     Coalition Of Kwara North Groups     Sulyman Age AbdulKareem     Marafan Shonga     Saka Abimbola Isau     Abdulahi Abubakar Bata     Kayode Ishola     Basit Olatunji     Afetu Of Alabe     Oluwatoyin Lukman     Students Union Government     Aasiyat Bello Oyedepo     Salary     AbdulRaheem Ahmad Shayi     Hassan Oyeleke     Alapado     Harmony Holdings     Muhammed Taofeeq Abdulrazaq     Lanwa     Sam Onile     Mansur Alfanla     Stephen Fasakin     Iyiola Oyedepo     Ayoade Akinnibosun     Kunle Akogun     Nigeria Foundation For Artificial Intelligence     Sulaiman Gado     Muhammed Danjuma     Kemi Adeosun     Musa Yeketi     Niyi Ogundiran     Olupako     Centre For Digital Economy     Lawan     Ali Ahmad     Yaru     Razaq Ayobami Akanbi     Kwara Apc     Lithium     Orisa Bridge     Awili Pedro     Hassan Saliu     Suwa-Arabs     Ishak Mohammed Sabi     Tunde Yusuf     Isiaq Khadeejah     Code Of Conduct Tribunal     Frootify    

Cloud Tag: What's trending

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

Admiralty Villa     UNILORIN Alumni     Kwara South     Sherif Sagaya     Yahaya Seriki     Aliyu Kora Sabi     Haleeman Salman     Kayode Alabi     Elerin Of Adanla     Abdulmajeed Wahab     Madawaki     Ilorin West     Fareedah Dankaka     Donatus Ejidike     Abubakar Atiku     Isiaka AbdulRazaq     Ganmo Power Sub-Station     NFAI     James Kolo     GANZY     Ilorin South     Agbarigidoma     Ilorin East/South Federal Constituency     Bahago     Omotoso Musa     Kolo     Mutawali     Idiagbon     General Hospital, Offa     Radio SBS     Ayoade Akinnibosun     Jumoke Gafar     Oko-Erin     Association Of Kwara State Online Media Practitioners     Shaykh Luqman Jimoh     AGILE Programme     Vasolar Consultoria     March 28     Shoprite     Razaq Atunwa     Abdulkadir Jimoh     Pategi     Magaji Erubu     Hameed Oladipupo Ali     Ganmo Electricity Sub-Station     Tsaragi/Share     Salihu S. Yaru     Rebecca Bake     3MTT     Monthly Sanitation     Alabere     Basit Olatunji     Michael Nzekwe     SARS     Oba Sulaiman Asude     Jamila Bio Ibrahim     Agor Market     Bello John Olanrewaju     Folaranmi Aro     Mansurat Amuda-Kannike     GRA     Adesoye     Al-Ilory     Femi Oladiji     High Court     Ezekiel Yissa Benjamin     Abdulkarim Adisa     Peculiar Allowance     Abdulquawiy Olododo     Salihu Ajia     Gbugbu International Market     Emir Of Shonga     Otoge     Tescom.kwarastate.gov.ng     Kisira     Monsurat Omotosho     Patience Jonathan