FG ANNOUNCES TEMPORARY CLOSURE OF OWERRI AIRPORT FOR RUNWAY REHABILITATION. (PHOTO).

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 FG ANNOUNCES TEMPORARY CLOSURE OF OWERRI AIRPORT FOR RUNWAY REHABILITATION  The  Minister of Aviation and Aerospace Development, Festus Keyamo, has announced the temporary closure of the Sam Mbakwe International Cargo Airport, Owerri, to allow for major runway rehabilitation works. A statement by the  Minister says the closure has become necessary to improve safety and operational efficiency at the airport, ahead of the Christmas travel season. It adds that the rehabilitation project is a joint partnership between the Federal Government and the Imo State Government, and will involve repairs to deteriorated sections of the runway, treatment of surface cracks, filling of potholes, resurfacing, and extension works to accommodate larger aircraft. The Minister disclosed that he had earlier spoken with the Governor of Imo State, Senator Hope Uzodimma, who, along with other critical stakeholders in the South-East, agreed on the need for the temporary closure. The airport i...
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FUEL SUBSIDY IS BACK- OBASANJO. (PHOTO).

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 Fuel Subsidy Is Back – Obasanjo


Former President, Olusegun Obasanjo, revealed that fuel subsidy which was removed by the Federal Government in 2023 has been reintroduced due to inflation.


President Bola Tinubu during his inaugural address on May 29, 2023, had declared that fuel subsidy “is gone.”


The development has led to the increase of petrol price from about N200 to over N600 per litre.


In an interview with the Financial Times, Obasanjo faulted the manner in which the subsidy was removed by the government.


According to him, the government should have implemented some measures before the subsidy removal.


He, however, explained that the subsidy has “come back” due to the inflation rate.


“There’s a lot of work that needs to be done. Not just wake up one morning and say you removed the subsidy. Because of inflation, the subsidy that we have removed is not gone. It has come back,” Obasanjo said.


He also highlighted the need for investor confidence in Nigeria, stating, “You have to go from a transactional economy to a transformational economy.”


Daily Trust reports that some of the demands of the ongoing nationwide protest is reinstatement of the fuel subsidy regime.


But Tinubu, in his Sunday broadcast, ruled out possibility of returning fuel subsidy.


He described the decision to remove the fuel subsidy as painful but necessary, while arguing that it had been a “noose around the economic jugular of our Nation” and had hindered economic development and progress.

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