OVER 25 MILLION PHONES STOLEN IN ONE YEAR- FG. (PHOTO).

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 Over 25 million phones stolen in one year – FG The Crime Experience and Security Perception Survey report of the National Bureau of Statistics, a Federal Government agency, shows that Nigeria recorded 25.35 million phone theft cases between May 2023 and April 2024. According to the report, this was the most common type of crime within the period under review. The report read, “The number of crimes experienced by individuals in Nigeria was analysed over a period of time. The results show that theft of phones (25,354,417) was the most common crime experienced by individuals, followed by consumer fraud (12,107,210) and assault (8,453,258). However, hijacking of cars (333,349) was the least crime experienced by individuals within the reference period.” It also noted that most phone theft cases occurred either at home or in a public place, and about 90 per cent of such cases were reported to the police. Despite the high rate of the incident being reported, only about 11.7 per cent of t...
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TINUBU: REMOVAL OF PMS SUBSIDY NECESSARY FOR LONG-TERM ENERGY SECURITY AND ECONOMIC PROSPERITY OF NIGERIA. (PHOTO). #PRESS RELEASE

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 PRESS RELEASE 


Tinubu: Removal of PMS subsidy necessary for long-term energy security and economic prosperity of Nigeria 


President Bola Ahmed Tinubu said  that the decision of his administration to remove subsidy on Premium Motor Spirit (PMS) was premised on the need to ensure long-term energy security and economic prosperity of Nigeria.


The President stated this in his keynote address at the opening ceremony of the 7th Nigerian International Energy Summit (NIES) at the Banquet Hall of the Presidential Villa, Abuja on Tuesday, 27th February, 2024.


The President who was represented at the event by the Minister of Information and National Orientation, Alhaji Mohammed Idris, noted that the petroleum subsidy had, over the years, strained the country’s economic resources, leading to inefficiencies and, most importantly, hindering ability to invest in critical areas of energy security. 


Tinubu admitted that the decision to remove the petroleum subsidy was a challenging one, but stressed that it was a step that must be taken to secure Nigeria’s energy future and foster economic growth.


He added that by removing the subsidy, “We are creating a more transparent and accountable energy sector. The funds that were previously allocated to subsidizing petroleum products are now redirected towards developing and upgrading our energy and other social infrastructure”. 


"While we are immersed in energy security, let us not forget that Energy Transition is another key aspect of our discussions. We stand on the brink of a new era, where traditional energy sources are being complemented and, in some cases, replaced by cleaner and more sustainable alternatives. This transition is not only an environmental necessity but also an economic opportunity. We must leverage innovation and collaboration to ensure a smooth and just transition that will leave no one behind", the President stated 


Highlighting some of the gains of the removal of the subsidy, the President said the private sector have been encouraged to participate in the energy industry with potential of attracting more local and international investors, fostering innovation and competition that will drive down costs and improve the overall efficiency of our energy sector.


In his  address at the opening ceremony, the Minister of State Petroleum Resources (Gas), Rt. Hon, Ekperikpe Ekpo, advocated for a shift towards the vast potential that lies in Nigeria’s gas sector. He emphasized that the shift towards gas was not merely an option but a necessity for the country’s economic resilience, adding that the gas industry presents a unique opportunity to diversify revenue streams, reduce dependence on oil, and create a more robust and sustainable economic foundation. 


Oluwakemi Ogunmakinwa Mrs.

Deputy Director ( Press and Public Relations)

27th February, 2024

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