Category Archives: Energy

’They live in Mars and think N5,000 can solve Nigerians problems’ – Senator Shehu Sani reacts to FG’s decision to remove fuel subsidy

Senator Shehu Sani has reacted to Buhari government’s decision to give poor Nigerians N5000 as transport grant once fuel subsidy has been removed. Read here.

The senator in a tweet said the increase in petrol will cause an increase across all sectors in the economy. He said that the Federal government must be living in Mars to believe that the N5000 can solve all the problems that poor Nigerians will face due to the subsidy removal.

N5,000 cash payment is too small considering the level of inflation in the country – Energy Analyst says as he opposes to subsidy removal

According to him, When the pump price rises to N340, salaries or wages will be worthless, landlords will increase the rent, the schools will increase the tuition and parents must pay; food prices, transport, water and electricity bills will jerk up. They live in Mars and think 5k can solve all these problems.

N5,000 cash payment is too small considering the level of inflation in the country – Energy Analyst says as he opposes to subsidy removal

Dr Bala Zaka, Port Harcourt-based Energy Analyst, has reacted as the Federal Government moves to pay N5,000 grant to 40 million Nigerians as part of measures targeted at cushioning the negative impact of petrol subsidy to be introduced in 2022.

The Analyst who opposed to the subsidy removal, said the nation did not attract any positive impact from previous subsidy withdrawals.

“First, the N5,000 cash payment is too small considering the level of inflation in the country.
“Second, it would be difficult to select or determine beneficiaries. Third, we are also not very sure of frequency of disbursement. More than these, it would be open to corruption.”
Instead of cash payment, he said: “It would be better to increase the minimum wage, which would empower citizens to meet basic needs.
“Government can also invest significant funds into the power sector to supply commercial and stable electricity nationwide. “The increased supply of power would reduce the demand for petrol products, which the citizens need to generate their independent power.”

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2022: President Buhari to cancel fuel subsidy, pay N5,000 transport grant to 40m Nigerians

Zainab Ahmed, Nigeria’s Minister of Finance, Budget and National Planning has said the federal government will remove fuel subsidies by 2022. According to her, fuel subsidies will be replaced with N5000-a-month transport grant to the poorest Nigerians.
Ahmed stated this on Tuesday, while speaking at the launch of the World Bank Nigeria Development Update (NDU).
The minister noted the grant will go to about 30 to 40 million Nigerians, who make up the poorest population of the country.

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