President Muhammadu Buhari on Sunday night met behind closed doors with President Nana Akufo-Addo of Ghana at the Presidential Villa, Abuja. Bashir Ahmad, the President’s Personal Assistant on New Media, confirmed this on his Twitter handle. The presidential aide, who could not elaborate on the agenda of the meeting between the two leaders, however, posted pictures in which the Nigerian leader could be seen escorting his guest after the meeting. The News Agency of Nigeria (NAN) reports that the closure of shops owned by Nigerian traders in Ghana had heightened tensions between the two countries. The situation which led the Minister of Foreign Affairs, Geoffrey Onyeama to summon Ghana’s Charge d Affaires to Nigeria, Ms Iva Denoo for discussions. Onyeama had also met with representatives of Nigerian traders in Ghana, led by Jasper Emenike, the National President of Progressive Ambassadors of Nigeria (PAN), and the organisation’s National Director, Ruth Ango over the matter. The Speaker, House of Representatives, Femi Gbajabiamila, had also visited Ghana on Sept. 2 with a view to seeing how the issues at stake could be resolved amicably. According to the speaker, the closure of the Nigerian shops in Ghana contravenes the Economic Community of West African States (ECOWAS) protocol on free movement of citizens of member states, and trade liberalisation scheme. NAN reports that the ECOWAS Trade Liberalisation Scheme (ETLS) adopted in 1979 with an agreement on agricultural, artisanal handicrafts, and unprocessed products, and extended to industrial products in 1990, is the main framework for trade and market integration in ECOWAS The agreement addresses protocols on the free movement of goods, persons, and transportation. The scheme’s main pursuit of consolidating the free trade area is guided by the National Approval Committee that informs the member states. Similarly, Article (3) of the Revised Treaty of ECOWAS on trade and market integration stipulates the removal of trade barriers and harmonisation of trade policies for the establishment of a Free Trade Area, a Customs Union, a Common Market and an eventual culmination in to a Monetary and Economic Union in West Africa. NAN further reports that the Ghanaian government had proposed a meeting between the two leaders prior to the one they held behind closed doors on Sunday. (NAN)

Says FG wastes over N10 trillion on Subsidy Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mele Kolo Kyari, has said that over N10 trillion was spent on fuel subsidy between 2006 and 2020 without a significant impact on the masses. Also, the subsidy regime was affected by marketers who were smuggling the subsidized PMS to neighbouring countries to make more profit and others who faked documents to collect subsidy for fuel they never imported. Kyari explained that the Federal Government removed the subsidy on Premium Motor Spirit (PMS), because the subsidy regime was also characterised by fraud by some cabals and not beneficial to the masses, who were the original target beneficiaries. The NNPC GMD spoke in a Hausa Radio programme monitored in Kaduna at the weekend, adding that the fuel subsidy was the root of all the atrocities and frauds in the oil sector. The government has removed the subsidy with a plan to reinvest on projects that will have a direct impact on the masses, he said. “The crude oil is a global commodity and its price is not hidden, everyone can calculate and know how much is the cost of every final product from the crude at the international market. But, since the inception of the country, the Government has been paying subsidy on petrol to make it cheaper for Nigerians to buy below the cost price. “This subsidy is designed to assist the masses of Nigeria, that is the intention, but in reality, the masses are not the beneficiaries. First, the masses are not the owners of exotic cars, buying fuel, owning the filling stations and doing the oil business. “This subsidy that the government has been paying over the years is the root of all the atrocities and fraud committed in this country. For example, if you look at it from 2006 till 2020, we have spent over N10trillion on fuel subsidy. Apart from that, there is also subsidy on foreign currencies, everybody knows how much is dollar in the market, but the government is also subsidising it. So, this and the fuel subsidy within this period is around 14 to 15 trillion Naira. “What was happening with the subsidy is that some marketers were smuggling fuel to other neighboring African countries because it was cheaper in Nigeria due to the subsidy. Another one is those who use to fake documents and bring to Government to collect subsidy for fuel they never imported and the previous Government was paying them. “So, it was not the masses of Nigeria that were enjoying this subsidy, except some cabals, who are rich and powerful, they were enriching themselves with the subsidy money at the detriment of the masses who were the primary target of the subsidy. The masses are only enjoying the subsidy when it comes to the effects on the cost of transportation, and we are going to do something about this. “This money has been wasted over the years, it cannot be justified. So, with the right leaders in place, this money should have been channeled to other areas of development. Even though I understand that there is a lack of trust between the leaders and the citizens, but if we have just leaders, this money can be judiciously utilised. “But, what we have seen in the last five years, has shown that, if we have just and trusted leaders, that money can be judiciously utilised to the benefit of the masses. We have seen that the resources at the disposal of the Government in the last five years, is not up to a quarter of what the previous Government got in the previous five years. “So, what the Government is trying to do is that, to withdraw this subsidy and take it to where the Nigeria masses will feel the impact, by building hospitals, schools, roads, industries and so on, where people can see physically what the money is being used for. “This subsidy has been removed since March this year, that time, price of crude oil was less than $30 per barrel, as a result of that, the price of fuel dropped, so, we dropped the price of fuel to the level of global market price, it was dropped to N125. “From this money, Nigeria has been able to pay workers salaries without retrenching despite the effects of the Covid-19 on the global economy. In the whole of West Africa, it is only Nigeria that didn’t retrench workers as a result of the Covid-19 pandemic. Apart from that, part of the money will be used to support farmers and other businesses,” Kyari said. Speaking on the Ajaokuta, Kaduna, Kano gas pipeline project, the NNPC GMD said. Nigeria has more gas deposits than oil, hence the need to extend the gas across the country to power. He said because gas is cheaper than fuel, the government decided to extend the gas supply to the North, to ensure the revival of the moribund factories like the textile industry which collapsed due to lack of power. He noted that those industries could not have survived running on diesel. “if we don’t extend gas to the North, this challenge of the collapse of the industry will continue to worsen. So, when completed, it will bring back the factories, because we are going to build power plants in Abuja, Kaduna, and Kano. This will create employment and address poverty in the region,” he said.