MEXICO SAYS TWO US FEDERAL AGENTS KILLED IN CRASH WERE NOT AUTHORIZED FOR OPERATIONS INSIDE COUNTRY. (PHOTO).

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 Mexico says two US federal agents killed in crash were not authorized for operations inside country  Mexico’s government says two U.S. federal agents killed in a northern border-region crash were not authorized to take part in any operations on Mexican soil, raising new questions about their role in a cross-border drug lab mission. Authorities say the agents were returning from an operation targeting a clandestine drug facility in Chihuahua when their vehicle, traveling as part of a convoy, went off a ravine and exploded last weekend. Two Mexican officers also died in the incident. U.S. officials have confirmed the two Americans were CIA personnel, though their agency has declined to comment on the circumstances. Mexican officials say one of the agents entered the country as a visitor while the other used a diplomatic passport, and insist the government had no knowledge of foreign operatives conducting or planning any enforcement activity inside Mexico. The Security Ministry ...
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SUBSIDY IS GONE', FG DISMISSES WORLD BANK’S CLAIM.(PHOTO).

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subsidy Is Gone’, FG Dismisses World Bank’s Claim

The Federal Government has said contrary to the claim by the World Bank that government is still paying subsidy on petrol, the era of petrol subsidy is “gone for good”.

Speaking in an interview on Channels TV on Thursday morning, Minister of Information and National Orientation, Mohammed Idris, said President Bola Tinubu made it clear from his first day in office that his government would not sustain the payment of subsidy on petrol.

The minister said the subsidy removal had translated to increased revenue accruing to the federation account.

The World Bank hinted on Wednesday that current fuel prices in Nigeria were not cost-reflective and that the Federal Government might still be paying subsidy on petrol.

The bank said Nigerians should be paying about N750 per litre as against the current price of N650 in some parts of the country.

The World Bank’s lead economist for Nigeria, Alex Sienaert, during his presentation of the Nigeria Development Update (NDU), December 2023 Edition in Abuja on Wednesday, insisted that there was still subsidy on petrol.

He stated, “It does seem like petrol prices are not fully adjusting to market conditions. So, that hints at the partial return of the subsidy if we estimate what is the cost reflective of the retail PMS price of the would-be and assume that importation is done at the official FX rate.

“Of course, the liberalisation is happening with the parallel rates, which is the main supplier, the price would be even higher. These are just estimates to give you a sense of what cost-reflective pricing most likely looks like.

“We think the price of petrol should be around N750 per litre more than the N650 per litre currently paid by Nigerians.”

 

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