FG REMOVES FUEL SUBSIDY; EFFECTIVE JANUARY 1

Minister of State for Petroleum , Dr Ibe Kachikwu during a tour of the Port Harcourt refinery on Christmas Day said that the Federal government is working to reduce the pump price of petrol to about 85 or 86 naira per litre by Jan 1st.

He said efforts were on to get the refinery to achieve 60 percent production capacity and to supply about 11 million liters of petrol daily.

“If you look at the new PPPRA template that we developed and which I just signed off two days ago, when it is announced you will find out that for now ,and I use the emphatic word of the President for now, the price of the refined product will actually be lower than 87 naira, It will be 85. We will probably announce that in January if the prices hold.

“Like I said, we have done a modulation calculation and it is showing us below N87. I imagine that if PPPRA publishes it today, it will become effective immediately. But the 1st of January that is when we are looking at.”

“What that does for you is that its modulating. If it goes up you move up, if it comes down you come down. So we take away the fact of having to go find funds to pay for these subsidies that we cannot afford.

“More importantly we try to be as close to the pump price that we have now as possible,” he said.

Vanguard

Comments

The Sphere

Photograph by Elena Saavedra Buckley. Once when I was about twelve I was walking down the dead-end road in Albuquerque where I grew up, around twilight with a friend. Far beyond the end of the road was a mountain range, and at that time of evening it flattened into a matte indigo wash, like a mural. While kicking down the asphalt we saw a small bright light appear at the top of the peaks, near where we knew radio towers to occasionally emit flashes of red. But this glare, blinding and colorless, grew at an alarming rate. It looked like a single floodlight and then a tight swarm beginning to leak over the edge of the summit. My friend and I became frightened, and as the light poured from the crest, our murmurs turned into screams. We stood there, clutching our heads, screaming. I knew this was the thing that was going to come and get me. It was finally going to show me the horrifying wiring that lay just behind the visible universe and that was inside of me too. And then, a couple se...

The Private Life: On James Baldwin

JAMES BALDWIN IN HYDE PARK, LONDON. PHOTOGRAPH BY ALLAN WARREN. Via Wikimedia Commons , licensed under CC BY-SA 3.0 . In his review of James Baldwin’s third novel, Another Country , Lionel Trilling asked: “How, in the extravagant publicness in which Mr. Baldwin lives, is he to find the inwardness which we take to be the condition of truth in the writer?” But Baldwin’s sense of inwardness had been nourished as much as it had been damaged by the excitement and danger that came from what was public and urgent. Go Tell It on the Mountain and Giovanni’s Room dramatized the conflict between a longing for a private life, even a spiritual life, and the ways in which history and politics intrude most insidiously into the very rooms we try hardest to shut them out of. Baldwin had, early in his career, elements of what T. S. Eliot attributed to Henry James, “a mind so fine that it could not be penetrated by an idea.” The rest of the time, however, he did not have this luxury, as pub...

The Rejection Plot

Print from Trouble , by Bruce Charlesworth, a portfolio which appeared in The Paris Review in the magazine’s Fall 1985 issue. Rejection may be universal, but as plots go, it’s second-rate—all buildup and no closure, an inherent letdown. Stories are usually defined by progress: the development of events toward their conclusions, characters toward their fates, questions toward understanding, themes toward fulfillment. But unlike marriage, murder, and war, rejection offers no obstacles to surmount, milestones to mark, rituals to observe. If a plot point is a shift in a state of affairs—the meeting of a long-lost twin, the fateful red stain on a handkerchief—rejection offers none; what was true before is true after. Nothing happens, no one is materially harmed, and the rejected party loses nothing but the cherished prospect of something they never had to begin with. If the romance plot sets up an enticing question—Will they or won’t they? — the rejection plot spoils everything upfront:...

TOBI'S DESK

Search This Blog