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.
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.”
I have been reporting for several years now and I am very interested in visual news reportage with strong inclusion of photos and video multimedia.
Posted: at 19-05-2016 08:07 AM (8 years ago) | Addicted Hero
livingstone80 at 19-05-2016 09:08 AM (8 years ago) (m)
This people are really fantastically evil and corrupt!then all the money you people recovered where is it? Jonathan left billions of money,where is it? and why are blaming corrupt Jonathan and his government when you people also corrupt! I blame youths that allow fantastically evil old corrupt men Of PDP and APC government to be using us as they want!!!
Posted: at 19-05-2016 09:08 AM (8 years ago) | Upcoming
IF WE CONSIDER THE HUGE DEPOSIT OF NATURAL RESOURCES WE HAVE IN NIGERIA, INCLUDING THE HUGE SUM OF MONEY GOVERNMENT OFFICIALS STEAL FROM NIGERIA PUT TOGETHER. THEN WE OUGHT TO BE ASHAMED OF OURSELVES SAYING THAT: 'WE ARE BROKE"
CHIKA J NJOKU.
Posted: at 19-05-2016 09:30 AM (8 years ago) | Gistmaniac
Slimchery at 19-05-2016 10:37 AM (8 years ago) (m)
If Nigeria is broke how did you guys get those billions and trillions that you send to abroad to buy houses and costly cars, when will this Nigeria leader stop all this rubbish they are doing in the nation, why won't the youth stand up and fight for what is right, this old fools are buying and selling their future to their own unborn generation, fake and fail leaders
Posted: at 19-05-2016 10:37 AM (8 years ago) | Gistmaniac
AmazingMarie at 19-05-2016 04:53 PM (8 years ago) (f)
so Nigeria is broke abi? and the only way out now is for every body both those who can afford fuel or cannot to pay indirectly for running the FGN. how come the executives salaries allowances and every benefits monthly has not been slashed so that the FG can start from that good example. they all earn padded and robust salaries and allowances monthly and without any iota of delay and they come to say Nigeria is broke. I don't believe you info minister don't misinform Nigerians I beg you.
Posted: at 19-05-2016 04:53 PM (8 years ago) | Hero
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