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Civil servants worry over spending more income on petrol

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Group backs FG’s efforts to tackle oil thieves

Civil servants worry over spending more income on petrol

Many civil servants in the Federal Capital Territory (FCT), have expressed concern over how fuelling their cars consume more than half of their monthly income.

Some of the civil servants, who spoke to newsmen said the recent increase in the pump price of petrol had further affected their finances.

According to them, the development is making it difficult for them to meet other critical obligations like rent, housekeeping and electricity bills among others.

Ms Nkechi Ugwu, a civil servant residing in Kubwa, said the cost of fueling her car had become a source of concern, adding that she spent over 70 per cent of her salary in fuelling her car.

She said she had to resort to public transportation at a point.

Ugwu, however, said resorting to public transportation did not help matters, saying, fare within the FCT had equally increased.

RELATED STORY: Group backs FG’s efforts to tackle oil thieves

“I reside in Kubwa, one of the satellite towns and I drive to work on daily basis and I must say that the cost of transportation has increased tremendously.

“It became worse, especially for motorists, since the recent rise in pump price of petrol across the country.

“I realised I could no longer meet up with some obligations and I decided to calculate what was taking a toll on my income.

“I was shocked to realise that I was spending almost 70 per cent of my income on petrol, ” she said.

Ugwu called for a revamp of the transportation system in the FCT, and the country at large, adding that it would cushion the effect of rise in the pump price of petrol particularly for civil servants.

Mr Godstime Inalegwu, another civil servant, who resides in Lugbe, urged government to explore the option of establishing metro stations to ease the discomfort suffered by residents.

“The rate at which fuel is consuming a major part of my salary is giving me so much concern.

“While salaries remain the same, the cost of things, particularly fuel has increased beyond measure,” he said.

He called for an urgent review of the minimum wage to enable civil servants meet at least basic needs.

Mr Idachaba Audu, who resides at Karu Site in the FCT, said he decided to explore the option of public transportation as he was as expensive as using his car, adding that it was a dire situation that required government intervention.

According to him, unless something is done to tackle the problem, it may resort to man hour loss, as workers may not be able to go to work on a daily basis.

Most civil servants, who spoke to NAN said they were going through the same experience, and called on the Federal Government to intervene by providing them with palliatives.

NAN reports that a survey in some parts of the FCT revealed that the pump price of petrol ranged from between N175 and N200.

Meanwhile, some of the fuelling stations visited had long queues.

NAN inquired to know why some fuelling stations had long queues while others did not, some of the motorists attributed it to the cost.

They said they would rather queue to buy petrol for N175 the official price than buy at N200, thereby, spend so much from their meagre income.

Civil servants worry over spending more income on petrol

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Economy

Fuel subsidy was removed for Nigeria not to go bankrupt – Tinubu

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Fuel subsidy was removed for Nigeria not to go bankrupt - Tinubu

Fuel subsidy was removed for Nigeria not to go bankrupt – Tinubu

President Bola Tinubu has said that fuel subsidy was removed to save the country from going bankrupt.

Speaking as one of the panelists at the ongoing World Economic Forum in Riyadh, Saudi Arabia on Sunday, April 28, Tinubu said he was convinced it was in the best interest of the people.

He said; “For Nigeria, we are immensely consistent with belief that the economic collaboration and inclusiveness are necessary to engender stability in the rest of the world.

“Concerning the question of the subsidy removal, there is no doubt that it was a necessary action for my country not to go bankrupt, to reset the economy and pathway to growth.

“It is going to be difficult, but the hallmark of leadership is taking difficult decisions at the time it ought to be taken decisively. That was necessary for the country.

“Yes, there will be blowback, there is expectation that the difficulty in it will be felt by greater number of the people, but once I believe it is their interest that is the focus of the government, it is easier to manage and explain the difficulties.

“Along the line, there is a parallel arrangement to really cushion the effect of the subsidy removal on the vulnerable population of the country. We share the pain across board, we cannot but include those who are vulnerable.

“Luckily, we have a very vibrant youthful population interested in discoveries by themselves and they are highly ready for technology, good education committed to growth.

“We are able to manage that and partition the economic drawback and the fallout of subsidy removal.”

The President who stated that fuel subsidy removal engendered accountability, transparency and physical discipline for the country, also talked about exchange rate unification.

According to President Tinubu, the management of the nation’s currency by the government was as well necessary to allow the Naira compete favourably with other world currencies.

He said; “The currency management was necessary equally to remove the artificial elements of value in our currency. Let our local currency find its level and compete with the rest of the world currency and remove arbitrage, corruption and opaqueness.

“That we did at the same time. That is two engine problem in a very template situation for the government, but we are able to manage that turbulence because we are prepared for inclusivity in governance and rapid communication with the public to really see what is necessary and what you must do.”

Fuel subsidy was removed for Nigeria not to go bankrupt – Tinubu

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Naira appreciate, gains further by 1.8% against dollar

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Naira appreciate, gains further by 1.8% against dollar

Naira appreciate, gains further by 1.8% against dollar

The Naira experienced a further appreciation at the official market, trading at N1,382.95 to a dollar on Tuesday.

Data from the official trading platform of the FMDQ revealed that the Naira strengthened by N25.09 or 1.78 per cent, compared to the previous day’s rate of N1,408 against the dollar.

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However, the total turnover increased to $245.58 million on Tuesday, up from $222.15 million recorded on Monday.

Meanwhile, at the Investor’s and Exporters’ (I&E) window, the Naira traded between N1,486 and N1,300 against the dollar.

The reports gathered that the Central Bank of Nigeria(CBN) had, earlier on Tuesday at its 294th Monetary Policy Committee (MPC), raised Monetary Policy Rate (MPR), by 200 basis points from 22.75 per cent to 24.75 per cent.

CBN governor Yemi Cardoso said that was meant to tackle the nation’s rising inflation.

Naira appreciate, gains further by 1.8% against dollar

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Petroleum Ministry, NNPC Ltd., others brainstorm on oil, gas development

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Petroleum Ministry, NNPC Ltd., others brainstorm on oil, gas development
Retreat

The Ministry of Petroleum Resources as well as its agencies and parastatals are expected to brainstorm on emerging developments in the oil and gas industry, at a sectoral retreat scheduled to hold in Abuja.

Mrs Oluwakemi Ogunmakinwa, Deputy Director, Press and Public Relations, Ministry of Petroleum Resources, said in a statement on Sunday that the retreat would focus on the Ministerial Deliverables (2023-2027) for the oil and gas sector.

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The retreat with the theme: “Building Synergy for Enhanced Development in the Oil and Gas Sector” would hold between March 26 and March 28.

Ogunmakinwa stated that the retreat would also fashion the way forward for the industry as earmarked by President Bola Tinubu.

“In the course of the retreat, heads of agencies under the ministry will be required to make presentations on the mandate, vision and mission of their respective organisations,” she stated.

According to Ogunmakinwa, the Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri and the Minister of State Petroleum Resources (Gas), Mr Ekperikpe Ekpo will be attending the retreat.

The Permanent Secretary, Ministry of Petroleum Resources, Amb. Nicholas Agbo Ella, Directors in the Ministry, as well as the Chief Executive Officers (CEOs) and Directors from the Agencies under the supervision of the Ministry would also be in attendance.

It would be recalled that President Bola Tinubu had the first year Ministerial Retreat with Ministers, Presidential Aides, Permanent Secretaries and top government functionaries from Nov. 1 to Nov. 3, 2023.

The retreat by the president was to chart a path for progress and prosperity of the nation, where he charged the participants to deliver on their mandates for the sake of Nigerians.

Petroleum Ministry, NNPC Ltd., others brainstorm on oil, gas development

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