APA – Lagos (Nigeria)
The plan of the Ministry of Transportation to procure a fleet of electric vehicles to enhance transportation efficiency and address growing concerns over fuel costs is one of the trending stories in Nigerian newspapers on Wednesday.
The Punch reports that in the bid to enhance transportation efficiency and address growing concerns over fuel costs, the Ministry of Transportation has announced its plans to procure a fleet of electric vehicles.
This move is expected to not only reduce the carbon footprint but also contribute to the ease of movement for commuters nationwide.
The newly sworn-in Minister of Transportation, Said Alkali, disclosed this in Abuja on Tuesday when he resumed duty at the Ministry.
According to him, with the procurement of these vehicles, there will be a decrease in the expense of transportation which is presently high because of the elimination of fuel subsidies.
He said, “The Ministry of Transport must assume a leading role in improving the public transportation sector to support the numerous policies that are geared towards providing democratic dividends that are accessible to ordinary Nigerians through effective provision of public transport that is secured, affordable and convenient across the country.
“So, I am going to ensure that the mass transit system is effective and put in place. The agenda of Mr. President is renewed hope and we will make sure that with the removal of fuel subsidy, we have an effective mass transit system and see how we can procure electric vehicles so that at least the cost of transportation with even the mass transit system is reviewed downward across the country.
“I will also ensure a sustainable collaboration with related ministries, agencies, and corporate entities to reactivate the road transport and mass transit operations in the country.”
The minister further noted that he would rehabilitate the rail transport sector targeted at ensuring secure and efficient operation.
The newspaper says that manufacturers have spent at least N7.9tn to import raw materials in the past three years, according to findings by The PUNCH.
According to manufacturers, the high raw materials imports bill is due to operators’ decision to source foreign exchange from the parallel market at high rates following the shortage of FX at the official market.
An analysis of the foreign trade reports of the National Bureau of Statistics also showed Nigeria was only able to export raw materials worth N1.77tn during the period, leaving a balance of trade deficit of 6.1tn.
A breakdown of the data showed that in the second quarter of 2020, manufacturers imported raw materials worth N570.6bn. The figure increased to N710.2bn in the third quarter of the same year before increasing further to N715.7bn in Q4.
Further breakdown of the data showed that in 2021, raw materials imports by manufacturers was N2.9tn. It slowed to N2.4tn in 2022, while N555.4bn worth of raw materials was imported in the first quarter of 2023.
The major raw materials imported during this time included cane sugar from Brazil, milk preparations from Ireland, mixtures of odiferous substances from Ireland and Swaziland, and lubricating oils from The Netherlands.
According to the Manufacturers Association of Nigeria Bi-Annual economic report, the manufacturing sector’s local raw materials sourcing averaged 52.8 per cent as against 51.5 per cent recorded in 2021.
The Guardian reports that the balance in Nigeria’s Excess Crude Account (ECA) as of August 22, 2023, was $473,754.57.
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who chaired a meeting of the Federation Account Allocation Committee (FAAC), harped on the need for the government to mobilise resources to deliver on its mandate to increase employment and reduce poverty.
Of the earned N1.74 trillion in July, N966.1 billion was shared to the three tiers of government as allocation for July, 2023.
From the stated amount, inclusive of Gross Statutory Revenue, Value Added Tax (VAT), Electronic Money Transfer Levy and Exchange Difference, the Federal Government received N374.485 billion; states received N310.67 billion; local councils took N229.409 billion; and oil-producing states got N51.545 billion as Derivation (13 per cent of mineral revenue).
A communiqué issued by FAAC indicated that gross revenue available from Value Added Tax (VAT) for July 2023 was N298.789 billion, which was an increase from N293.411 billion distributed in the preceding month, resulting in an increase of N5.378 billion.
From that amount, N11.681 billion was allocated for costs of collection, and N15.161 billion given for savings, transfers and refunds. The remaining N271.947 billion was distributed to the three tiers of government, of which the Federal Government got N40.792 billion; states received N135.974 billion and local councils had N95.181 billion.
The newspaper says that after nearly a month, the African Union (AU) Commission, yesterday, applied further sanctions by suspending Niger Republic from the pan-African bloc until normal constitutional order is restored in the country following the July 26 military coup.
The AU also warned its members to avoid any action that might legitimise the junta.
The decision to suspend Niger from AU was made by the Peace and Security Council of the AU Commission during its latest meeting that dwelt on the situation in the western African country, AU said in a statement.
The council reiterated its “unequivocal condemnation” of the military coup in Niger, which resulted in the ousting of democratically elected President Mohamed Bazoum by the military.
The council reaffirmed its full solidarity with the efforts of the Economic Community of West African States (ECOWAS) in its continued commitment to the restoration of constitutional order through diplomatic means.
“The council strongly rejected any external interference by any actor or any country outside the continent in the peace and security affairs in Africa. It also rejected engagements by private military companies in the continent in line with the 1977 OAU Convention for the Elimination of Mercenarism in Africa,” the statement said.
The AU urged the military to place the supreme interests of Niger and its people above all else and to immediately and unconditionally return to the barracks and submit to civilian authorities, which is consistent with the constitution of Niger.
The council also reiterated its deep concern over the resurgence of military coups as it undermines democracy, peace, security, and stability, as well as development on the continent.
Also yesterday, ECOWAS envoy to Niger, Gen. Abdulsalami Abubakar (rtd), formally presented the terms given by the military junta to the sub-region for the settlement of the political crisis in the country. This is as Abubakar gave assurances that the crisis is not likely to deteriorate beyond diplomacy.
Abubakar, who is a former Nigerian military Head of State, spoke to journalists at the Presidential Villa, Abuja, after a meeting convened by President Bola Tinubu, who is the Chairman of the Authority of Heads of State and Government of the ECOWAS.
GIK/APA
Nigerian press spotlights government’s plan for electric vehicle mass transit scheme, others
