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FG spends N5.34bn on fuel subsidy in June –NNPC



download 7 FG spends N5.34bn on fuel subsidy in June –NNPC

The federal government I of Nigeria sounds N5.34b on fuel subsidy in June 2020 say the Nigerian National petroleum corporation (NNPC)

The Nigerian Natonal Petroleum Corporation (NNPC) said it spent a record N5.34 billion about ($14 million) as subsidy for fuel in June, months after it adopted a price modulation template that was expected to end the regime of fuel subsidy in the nation’s oil and gas industry.

NNPC outlined the “under recovery” bill in its June monthly statement, a term used to reference money lost through fuel sales.

The NNPC spokesman, Kennie Obateru, said the costs represented temporary payments to marketers, who buy imported fuel and then sell it on, for stocks they held when the subsidy was removed, and would be spread over six months.

“Since the subsidy removal started with reduction in pump price, marketers have to be paid the differential of the (government) verified stock they held,” he told Reuters.

In March, amid a global oil price crash, Nigeria cut its gasoline pump price and said it had eliminated subsidies through a new price cap that maintained government control, but allowed prices to move with the market forces.

The Corporation hadkept fuel prices artificially low at N145 naira ($0.48) per litre. A study supported by the British government estimated Nigeria spent N10 trillion on subsidies from 2006 to 2018, more than the individual budgets for health, education or defence. But in the past, riots have broken out merely over rumours of any increase.

The body tasked with setting pump prices, PPPRA, has not published retail prices since March 31. Fuel importers said there is a set monthly depot price, but it is not widely distributed. Those who want to know it have to visit the depot.

The lack of transparency around the new gasoline pricing mechanism has been a point of contention for those monitoring whether the subsidy cost has been permanently eliminated and is one of the sticking points over a much-needed World Bank loan.

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Ekweremadu Gets Another International Parliamentary Appointment



images 2020 10 28T224424.521 Ekweremadu Gets Another International Parliamentary Appointment

The International Parliamentary Congress, IPC, has appointed former Deputy President of the Senate, Senator Ike Ekweremadu as its Chief Coordinator for Africa.
The appointment was conveyed to Ekweremadu in a letter by the Secretary-General of the IPC and member of the Pakistani national parliament, Senator Muhammad Ali Saif. The letter was dated October 26, 2020.
“We are proud to inform you that the Honourable President of the IPC has nominated your good self as Chief Coordinator Africa with immediate effect.
“IPC endeavours to promote parliamentary dialogue and oversight of Climate Change and Food Security; Human Rights; Peace, Security, Conflict Resolution and Interfaith Harmony; Trade, Investment and Development Corporation; Health Research; Standardisation, Quality Control, Human Development; and Observation of Elections across the world.
“To support IPC in achieving the noble cause, your influence, experience and goodwill shall help cover the whole of African region, enabling the IPC to directly partake in projects for general welfare of African nations and to uphold democracy”, the letter read.
Meanwhile, Ekweremadu, who is also Nigeria’s sole member of the Malta-based International Parliament for Tolerance and Peace, the legislative arm of the Global Council for Tolerance and Peace, has accepted the appointment.
The former Speaker of the Parliament of the Economic Community of West African States, ECOWAS Parliament, while pledging to work for the realization of the laudable ideals and objectives of the IPC, was optimistic that the world would benefit immensely from the rising influence of parliaments in global affairs.
“I, therefore, accept the appointment with utmost sense of humility and appreciation, mindful of the fact that injustice, repression, poverty, hunger, environmental degradation, and weakening of democracy and its values in any part of the world equally holds severe consequences for the rest of the globe, hence we must all come together to work for the good of all”, he added.

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Muslim World Protests , Condemns Macron’s Support For Offensive Cartoons



67506 scaled Muslim World Protests , Condemns Macron's Support For Offensive Cartoons

– Charlie Hebdo published the cartoon amid tensions between France and Turkey
– French school teacher was beheaded for showing Mohammed cartoons to his class
– France President – Emmanuel Macron has drawn anger in the Islamic world by defending offensive cartoons
– Erdogan called the cartoonists ‘scoundrels’ and accused the West of wanting to ‘relaunch the crusades’ with attacks on Islam
– Bangladeshis joined calls to boycott French products, which is already underway in Jordan, Kuwait and Qatar
– Iranian newspaper depicted Macron as the Devil, as ambassador in Tehran was summoned in protest
The Islamic world’s anger at France deepened today as Turkey condemned a Charlie Hebdo cartoon showing its president Recep Tayyip Erdogan lifting a woman’s burka to look at her naked backside.
Erdogan called the cartoonists ‘scoundrels’ and accused the West of wanting to ‘relaunch the Crusades’ by attacking Islam after the image appeared on the front of this week’s magazine.
‘I don’t need to say anything to those scoundrels who insult my beloved prophet on such a scale,’ Erdogan said, calling it a ‘disgusting attack’.
Showing Erdogan in a T-shirt and underpants, the caricature has Erdogan saying ‘Ooh, the Prophet’ as he looks at the woman’s backside, and comes with the caption: ‘Erdogan – in private he’s very funny’.
A Charlie Hebdo cartoon showing the naked Prophet’s backside was the image which French school teacher Samuel Paty showed to his class in the lesson which led to his murder and beheading earlier this month.
French president Emmanuel Macron has staunchly defended free expression and the right to mock religion in the wake of the terror attack, but has become a target of anger in the Islamic world.
Turkey has vowed to take ‘legal, diplomatic actions’ in response to the cartoon while Iran’s president Hassan Rouhani also took aim at France today by warning that insulting the Prophet would encourage ‘violence and bloodshed’.
Rouhani said that ‘the West should understand that… insulting the Prophet is insulting all Muslims, all prophets, all human values, and trampling ethics’.
‘Insulting the prophet is no achievement. It’s immoral. It’s encouraging violence,’ Rouhani said in a televised speech during the weekly cabinet meeting.
‘It’s a surprise that this would come from those claiming culture and democracy, that they would somehow, even if unintentionally, encourage violence and bloodshed,’ he added.
Rouhani also called on the West to ‘stop interfering in Muslims’ internal affairs’ if it ‘truly seeks to achieve peace, equality, calm and security in today’s societies’.
European leaders have come to Macron’s defence in his row with Erdogan, with Britain’s foreign secretary Dominic Raab today calling on NATO allies to stand together in defence of tolerance and free speech.
‘The UK stands in solidarity with France and the French people in the wake of the appalling murder of Samuel Paty,’ Raab said in a veiled rebuke to Turkey.
Erdogan has accused the French leader of an ‘anti-Islam agenda’ and tangled with him on other issues including Syria and the Mediterranean.
The Ankara prosecutor’s office said it was launching an investigation into the publication of the cartoon.
‘French president Macron’s anti-Muslim agenda is bearing fruit,’ Erdogan’s top press aide Fahrettin Altun said today.
Altun said the image was a ‘most disgusting effort by this publication to spread its cultural racism and hatred’.
‘Charlie Hebdo just published a series of so-called cartoons full of despicable images purportedly of our President,’ he said.
Turkey’s vice president Fuat Oktay also condemned the ‘immoral publication’ by what he called an ‘incorrigible French rag’.
‘I call on the moral and conscientious international community to speak out against this disgrace,’ the vice president said.
Macron has vowed that France will stick to its secular traditions and laws guaranteeing freedom of speech which allow publications such as Charlie Hebdo to produce inflammatory cartoons of the Prophet Mohammed.
The French government has also shut down a Paris mosque and raided other Islamic associations in the wake of Paty’s killing in the Paris suburbs earlier this month.
Paty showed his students some of the cartoons in a lesson on free speech, leading to an online campaign against him which ended in his grisly murder.
An attack on Charlie Hebdo by jihadists in 2015 left 12 people dead, including some of its most famed cartoonists.Macron’s defence of Charlie Hebdo, and his recent comment that Islam worldwide is ‘in crisis’, have prompted Erdogan to urge Turks to boycott French products.
Macron’s stance has also sparked anti-France protests in Turkey and in other Muslim countries including Bangladesh.
Tehran summoned a senior French envoy, the charge d’affaires, and the Saudi foreign ministry posted on Twitter to denounce ‘the offensive cartoons of the Prophet’.
Malaysia’s opposition leader Anwar Ibrahim slammed Macron’s comments on Islam being in crisis as ‘offensive’ and ‘unreasonable’, adding in a statement: ‘With freedom comes responsibility.’
Macron has also drawn fire in Pakistan and Morocco, while the Palestinian Islamist group Hamas, the Taliban in Afghanistan and the Lebanese Shiite movement Hezbollah have also spoken out against France.
Previously, European leaders including German chancellor Angela Merkel had defended Macron after Erdogan suggested he needed ‘mental checks’.
‘They are defamatory comments that are completely unacceptable, particularly against the backdrop of the horrific murder of the French teacher Samuel Paty by an Islamist fanatic,’ Merkel’s spokesman Steffen Seibert said.
On Tuesday, Dutch PM Mark Rutte came to the defence of his country’s far-right politician Geert Wilders after Erdogan brought legal action against him.
Wilders had shared a cartoon of the Turkish president wearing an Ottoman hat shaped like a bomb with a lit fuse on Twitter.
‘I have a message for President Erdogan and that message is simple: In the Netherlands, freedom of expression is one of our highest values,’ Rutte said.

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UCL : Juventus Vs Barcelona Today At 9pm



MRF2020 JuventusvBarcelona 1038x519 1 UCL : Juventus Vs Barcelona Today At 9pm

The headline news in the footballing world last week was, of course, that Cristiano Ronaldo had tested positive for Covid-19.
Said test result means Ronaldo has already missed two games for Juventus.
First up, the veteran hitman was unable to feature over the weekend as Andrea Pirlo’s side were held to a 1-1 draw with Crotone.
Then, Ronaldo would also miss Juventus’ Champions League opener on Tuesday, in which the Serie A champions were able to see off Dynamo Kyiv by two goals to nil – Alvaro Morata was on target for both strikes that day.
How Ronaldo can feature vs Barcelona
Whilst Juventus probably weren’t too concerned about not being able to call upon Ronaldo vs Kyiv, they will no doubt be desperate to have their star man back for next week’s Champions League clash.
Next up, Juventus are set to take on Hellas Verona in the Serie A on Sunday. The Bianconeri are then set to go head-to-head with Barcelona in a Champions League tie on Wednesday.
Given said outfits are clear favourites in Group C, Wednesday’s tie could go a long way to deciding who tops the table.
As a result, Juve really need Ronaldo back. And according to reports emerging from Italy, UEFA will allow Ronaldo to feature vs Barca if, on Wednesday, he can prove he at least has ‘a low viral load’.
Returning a negative Covid-19 test is not said to be necessary for UEFA, however, if Ronaldo wishes to feature vs Verona, the Portuguese standout must provide a negative test by Friday:

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