Broadcaster. Heal without plaster. Enjoy economic banter. Unrelated to William Shatner. Childhood addiction to Fanta. Fond memories of Tatanka. Woman is master.

Twittersphere
Joined April 2010
๐…๐„๐ƒ๐„๐‘๐€๐‹ ๐Œ๐ˆ๐๐ˆ๐’๐“๐‘๐˜ ๐Ž๐… ๐…๐ˆ๐๐€๐๐‚๐„ ๐๐‘๐„๐’๐’ ๐‘๐„๐‹๐„๐€๐’๐„ For immediate release Abuja, 18 October 2026 ๐’๐ž๐ญ๐ญ๐ข๐ง๐  ๐ญ๐ก๐ž ๐‘๐ž๐œ๐จ๐ซ๐ ๐’๐ญ๐ซ๐š๐ข๐ ๐ก๐ญ: ๐ˆ๐ง๐ญ๐ž๐ซ๐ž๐ฌ๐ญ ๐๐š๐ฒ๐ฆ๐ž๐ง๐ญ๐ฌ ๐š๐ง๐ ๐‘๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐ข๐ง ๐‡1 2026 The Federal Ministry of Finance has noted recent analysis and public commentary which, citing the World Bank's October 2026 Nigeria Development Update, claims that Federal Government interest payments reached 124% of revenue in the first half of 2026. This conclusion is misleading, for three reasons. 1. ๐ˆ๐ญ ๐œ๐จ๐ฆ๐ฉ๐š๐ซ๐ž๐ฌ ๐ฆ๐ข๐ฌ๐ฆ๐š๐ญ๐œ๐ก๐ž๐ ๐Ÿ๐ข๐ ๐ฎ๐ซ๐ž๐ฌ ๐š๐ ๐š๐ข๐ง๐ฌ๐ญ ๐š๐ง ๐ข๐ง๐œ๐จ๐ฆ๐ฉ๐ฅ๐ž๐ญ๐ž ๐ซ๐ž๐ฏ๐ž๐ง๐ฎ๐ž ๐›๐š๐ฌ๐ž. The interest figure includes debt the Federal Government services on behalf of other tiers of government, including external loans to states. Measuring this against federal revenue alone overstates the ratio which is only meaningful when debt and revenue cover the same level of government. The reported revenue is also incomplete. It excludes independent revenue already earned by government agencies and enterprises but not yet remitted to the Treasury. In addition, more revenue is typically earned in the second half of the year than in the first due to the statutory timing of certain tax payments. This is why the ratio stood at 156% in H1 2025, while the full-year 2025 debt-service-to-revenue ratio was below 60%, down from 97% before the reforms. This is a clear sign of the progress delivered by the current administration's reforms. 2. ๐„๐ฏ๐ž๐ง ๐จ๐ง ๐ญ๐ก๐ž ๐ฌ๐š๐ฆ๐ž ๐œ๐š๐ฅ๐œ๐ฎ๐ฅ๐š๐ญ๐ข๐จ๐ง, ๐ญ๐ก๐ž ๐ฉ๐จ๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐ก๐š๐ฌ ๐ข๐ฆ๐ฉ๐ซ๐จ๐ฏ๐ž๐ ๐ฌ๐ข๐ ๐ง๐ข๐Ÿ๐ข๐œ๐š๐ง๐ญ๐ฅ๐ฒ. Between the first half of 2025 and the first half of 2026, federal revenue rose by 72%, from โ‚ฆ3.6 trillion to โ‚ฆ6.2 trillion. Interest payments rose by a much slower 38%, from โ‚ฆ5.6 trillion to โ‚ฆ7.7 trillion. Revenue is therefore growing almost twice as fast as interest costs. As a result, the interest-to-revenue ratio fell by 32 percentage points in a single year, from 156% to 124%, and the gap between interest and revenue narrowed from โ‚ฆ2.0 trillion to โ‚ฆ1.5 trillion. This is the result of reforms working, not a sign of fiscal distress. 3. ๐€ ๐ก๐š๐ฅ๐Ÿ-๐ฒ๐ž๐š๐ซ ๐ฌ๐ง๐š๐ฉ๐ฌ๐ก๐จ๐ญ ๐ข๐ฌ ๐ง๐จ๐ญ ๐š ๐ฆ๐ž๐š๐ฌ๐ฎ๐ซ๐ž ๐จ๐Ÿ ๐๐ž๐›๐ญ ๐ฌ๐ฎ๐ฌ๐ญ๐š๐ข๐ง๐š๐›๐ข๐ฅ๐ข๐ญ๐ฒ. Debt sustainability is assessed on a full-year basis, not over six months. The same World Bank report projects Nigeria's full-year 2026 debt service, covering both interest and principal, at 46% of revenue. This is the appropriate benchmark, and a guide to avoid the invalid conclusions being drawn. ๐€๐ฅ๐ฅ ๐›๐จ๐ซ๐ซ๐จ๐ฐ๐ข๐ง๐  ๐ข๐ฌ ๐ฅ๐š๐ฐ๐Ÿ๐ฎ๐ฅ ๐š๐ง๐ ๐š๐ฉ๐ฉ๐ซ๐จ๐ฏ๐ž๐. Every naira borrowed by the Federal Government falls within the limits approved by the National Assembly under the 2026 Appropriation Act and the approved borrowing plan. All borrowing is conducted in full compliance with the Fiscal Responsibility Act 2007 and the Debt Management Office (Establishment) Act 2003, and is published regularly by the Debt Management Office. The Ministry welcomes informed scrutiny of public finances. We encourage analysts and commentators to apply the same rigour they seek to hold the government to: compare like with like, read figures in context, and seek clarification where the data is unclear. ๐’๐ข๐ ๐ง๐ž๐: ๐˜๐˜ฆ๐˜ฅ๐˜ฆ๐˜ณ๐˜ข๐˜ญ ๐˜”๐˜ช๐˜ฏ๐˜ช๐˜ด๐˜ต๐˜ณ๐˜บ ๐˜ฐ๐˜ง ๐˜๐˜ช๐˜ฏ๐˜ข๐˜ฏ๐˜ค๐˜ฆ ๐˜๐˜ฆ๐˜ข๐˜ฅ๐˜ฒ๐˜ถ๐˜ข๐˜ณ๐˜ต๐˜ฆ๐˜ณ๐˜ด, ๐˜ˆ๐˜ฃ๐˜ถ๐˜ซ๐˜ข
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People seem confused about why Tesla is getting so much backlash over its new "flying Roadster." For those of us who were once genuinely enthusiastic about Tesla, this isn't about hating innovation. It's about a long history of broken promises, misleading expectations, and increasingly absurd marketing. Tesla unveiled the second-generation Roadster in 2017, took customer deposits, and promised deliveries in 2020. Six years past that deadline, it still hasn't delivered the car. Instead, it's demonstrating an even more outrageous version with features that will likely never make it into production. The original 2nd gen Roadster would still be an amazing car today. Why not just deliver what was promised? Then there's Full Self-Driving. Tesla marketed the idea that Model 3 owners could turn their cars into income-generating robotaxis. That never materialized. Even if the technology eventually gets there, the opportunity has already passed for many early buyers. Timing matters. Delivering something a decade late isn't fulfilling the promise you sold to customers. And then there's Solar Roof. Unveiled in 2016 as a revolutionary approach to residential solar, it struggled with costs, installation challenges, and adoption far below expectations. After nearly a decade, Tesla discontinued it entirely in August 2026. Another grand vision abandoned, leaving existing customers with a discontinued product to maintain. Then came the Cybertruck, marketed as a nearly indestructible, revolutionary truck. Instead, we got a vehicle with questionable build quality, numerous recalls, expensive repairs, disappointing results in several real-world off-road tests, and specifications that fell short of the original promises. It literally looks like a dumpster, but aesthetics aside, the collapsing demand speaks volumes about the reality of what Tesla delivered. Another heavily hyped product that fell dramatically short of expectations. This is how consumer trust erodes. Not through one disappointment, but through years of accumulating them. And this is part of the reason why many people who were once enthusiastic about Tesla have become critical and cynical about it. But there's something even more fundamental here: Tesla has completely departed from the grounded, practical vision that made so many of us enthusiastic about the company in the first place. Electric cars were ambitious, but the idea was grounded in reality. People could charge at home, infrastructure could gradually expand, technology could improve, and millions of ordinary people could eventually benefit. There was a realistic path toward mass adoption. What the hell does a flying Roadster powered by compressed-air thrusters have to do with any of that? It's an expensive, impractical engineering stunt with enormous packaging, safety, and regulatory challenges, and no credible near-term path toward mass-market usefulness. Modern electric cars already achieve ridiculous acceleration without this nonsense. What practical problem does it solve? Who actually needs it? When will ordinary consumers benefit? And watching Tesla fans compare this experimental prototype in a Roadster-shaped shell to actual production vehicles people can buy today is ridiculous. What's especially infuriating is the cult-like mentality surrounding all of this. You can't point out the history of failed promises, question the practicality, or demand realistic timelines without being accused of being a "hater" or having "Elon derangement syndrome." Tesla deserves recognition for helping make electric cars a reality, but that success doesn't give it a blank check to keep marketing increasingly fantastical promises while failing to deliver on previous commitments. This isn't hatred. It's disappointment from people who once believed in the company, watched it accomplish extraordinary things, and have since watched it increasingly substitute practical innovation with spectacle and promises. Elon fanboys are also ignoring a bigger pattern that goes beyond Tesla. What made many of us enthusiastic about Elon and Tesla and in the first place was a grounded vision of technological progress that could genuinely improve millions of lives. Electric cars were ambitious, but practical, achievable, and useful to ordinary people. Now we're supposed to get excited about flying cars with compressed-air thrusters that have no credible path to mass adoption and solve no meaningful problem for the average consumer. It's the same kind of thinking behind marketing the colonization of Mars as some urgent necessity for humanity's survival. There's nothing wrong with space exploration, but Earth isn't about to become uninhabitable because of the Sun. We're talking about geological timescales, while humanity faces enormous problems RIGHT NOW: poverty, hunger, access to education, corruption, abuse of power, wars, and a lack of government accountability. We have plenty of very real problems to solve before worrying about humanity's survival on another planet. And then there's DOGE. I was genuinely excited about the original idea of making government more efficient, reducing waste, and increasing accountability. Instead, we got questionable savings figures, inexperienced people making sweeping decisions, serious concerns over access to sensitive personal information, and an initiative that ultimately fizzled out without delivering its grand promises. Another enormous narrative that fell apart when confronted with reality. That's what makes all of this so frustrating. It's not that we stopped believing in technological progress. It's that we've watched someone who once pursued grounded, transformative ideas increasingly embrace fantastical promises, political spectacle, and questionable narratives disconnected from practical reality. And somehow, pointing out this history of disappointment gets you labeled a "hater" or accused of having "Elon derangement syndrome." The problem isn't dreaming big. It's repeatedly selling people those dreams, failing to deliver, and then expecting everyone to applaud the next, even more ridiculous promise without asking what happened to the last one. The world doesn't need more spectacular promises. It needs practical solutions to real problems, honest expectations, and accountability for what was promised. That's what made Tesla exciting in the first place, and that's what so many of us feel has been betrayed.
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Replying to @Rotankwot
Baba, that little distraction was not necessary. We were following your narrative with full interest, then you suddenly took us on an interlude. ๐Ÿ˜‚
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Friday night in Bangkok. 11pm at night and Bureau De Change operators were still open to provide liquidity to tourists. Eurostar says Bangkok was the most visited city in the world in 2025. Thailand welcomed 33 million Tourists last year. The sector brought in about $46 billion
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President Donald Trump has fired Katie Zacharia as press secretary, advisers to the president said, ending her turbulent week-long stint as the White House's top spokesperson. cnn.it/3VPdpAE
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How can Nigeria lower transport fares seamlessly, at scale, at a time when fuel prices are high? Abia, Abuja, Lagos and Niger are on their way. We looked to Bangkok for answers @ARISEtv Report from the IMF/World Bank Meetings in Thailand
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Do a kickflip!
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Real life, baby
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CBN Governor Cardoso: Nigerians would have been worse off if the 2023 Reforms didnโ€™t take place @ARISEtv Report from the IMF/World Bank Meetings in Bangkok ๐Ÿ‡น๐Ÿ‡ญ youtu.be/-QcUcXMUV_E ๐Ÿ‘ˆ๐Ÿฝ
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Cheeky Pint is back! Mark Zuckerberg @finkd and Alexandr Wang @alexandr_wang came to the pub to discuss their new frontier model, Muse Wonder. 00:00:24 Museโ€™s breakout use cases 00:07:28 The model is the product 00:14:35 Muse Wonder 00:24:56 How frontier models are built 00:48:26 Betting $100B 01:07:21 Agentic commerce 01:19:34 OpenRouter 01:20:06 Beyond the smartphone 01:27:00 Funding 01:34:06 Why AI wonโ€™t be winner-take-all 01:40:46 Meta Superintelligence Labs (MSL) 02:08:11 Working for Mark Zuckerberg
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IMF Growth Forecast 2026: ๐Ÿ‡บ๐Ÿ‡ธ US: 2.3% ๐Ÿ‡ฉ๐Ÿ‡ช Germany: 1.3% ๐Ÿ‡ซ๐Ÿ‡ท France: 0.4% ๐Ÿ‡ฎ๐Ÿ‡น Italy: 0.8% ๐Ÿ‡ช๐Ÿ‡ธ Spain: 2.5% ๐Ÿ‡ฌ๐Ÿ‡ง UK: 1.3% ๐Ÿ‡ฏ๐Ÿ‡ต Japan:0.7% ๐Ÿ‡จ๐Ÿ‡ฆ Canada: 1.1% ๐Ÿ‡จ๐Ÿ‡ณ China:4.5% ๐Ÿ‡ฎ๐Ÿ‡ณ India: 7.0% ๐Ÿ‡ท๐Ÿ‡บ Russia:0.9% ๐Ÿ‡ง๐Ÿ‡ท Brazil: 2.2% ๐Ÿ‡ฒ๐Ÿ‡ฝ Mexico: 1.5% ๐Ÿ‡ธ๐Ÿ‡ฆ Saudi Arabia: -3.3% ๐Ÿ‡ณ๐Ÿ‡ฌ Nigeria: 4.2% ๐Ÿ‡ฟ๐Ÿ‡ฆ South Africa: 1.0% imf.org/en/publications/weo/โ€ฆ
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Going on TV to make sense of people being killed and the economic impact is something I dread. Trying to keep my emotions in check after Houthi attacks on Riyadh this week, but I'm devastated for the victims. Thank you for having me on @bbc_helena
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Arise News is covering the IMF/World Bank Meetings in Bangkok World Bank Group projects 1.2 Billion Working-Age Youth in Developing Nations by 2041 But 420 million jobs for them by the same period. Developing Nations need jobs! #IMF #WorldBank #Bangkok ๐Ÿ‘‡ youtube.com/watch?v=iRVrzfN0โ€ฆ
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1/3 Dear Blessing, I watched your video and listened as you explained how your journey from Masaka to Berger in the FCT now costs โ‚ฆ500 instead of โ‚ฆ1,500. That is โ‚ฆ1,000 saved every trip. I know what that means when you have a family to feed, bills to pay and other responsibilities waiting at home. I was equally pleased to hear from Ada and Abigail, who now pay โ‚ฆ1,600 instead of โ‚ฆ4,000 to travel from Enugu to Nsukka, saving โ‚ฆ2,400 on each journey. I also listened to Kabir, a taxi driver who explained that โ‚ฆ10,000 worth of CNG allows him to make three more return trips than his colleagues using petrol. He says he has no intention of going back to petrol. I have also received encouraging feedback from Borno, where some commuters are now paying as little as โ‚ฆ50 per trip on CNG and electric vehicles. Your various experiences show what our investment in CNG transportation is intended to achieve. Lower operating costs for drivers should translate into more affordable fares for passengers, leaving families with more money for their everyday needs. When we removed the petrol subsidy, I knew the decision would bring difficulties for many households. With that decision came a responsibility to provide practical alternatives that would ease transportation costs. Your stories show this is already happening, and I want more Nigerians to experience these benefits.
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When a govt institution uses AI-generated imagery in official communications without clear disclosure, safeguards or protections against impersonation, it sets a dangerous precedent. It is unclear who is speaking, where the information comes from, or the context in which the video was produced. What prevents others from using the same technology to fabricate official statements, impersonate public officials and spread disinformation? The Federal Ministry of Finance @FinMinNigeria should set the standard for authenticity, transparency, and public trust, not undermine it. This is concerning. cc: @proshare @NGRPresident @FMCIDENigeria
๐๐๐๐‚ ๐‘๐ž๐ญ๐š๐ข๐ฅ ๐ƒ๐ข๐ฌ๐œ๐จ๐ฎ๐ง๐ญ: ๐–๐ก๐จ ๐๐š๐ฒ๐ฌ? ๐–๐ก๐จ ๐๐ž๐ง๐ž๐Ÿ๐ข๐ญ๐ฌ? Get the answers in this quick Q&A. ๐Ÿ‡ณ๐Ÿ‡ฌ #NNPC #FuelPrices #FinanceExplained
Readers added context they thought people might want to know
The audio and visual presentation in this video were generated using artificial intelligence (AI) text-to-video tools rather than a live-recorded broadcast. The text details the temporary 30-day NNPC Retail price discount. see the reporting - premiumtimesng.com/business/businโ€ฆ
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Saudi Arabiaโ€™s Civil Aviation Authority has confirmed that 12 people died and 309 were injured in Saturdayโ€™s attack on King Khalid International Airport in Riyadh.
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You don't understand how BIG this is. Until now, if you wanted an animated explainer for your product, a pitch or a launch, you either learned After Effects or paid a motion designer and waited. Claude just shipped Claude Motion. You hand it a report, a chart or just an idea, and it builds a short animation you can download as an MP4. It writes the animation as code, so you can change any word, number or timing after. Here's what this actually means if you run a business. โ†’ Hand it your monthly numbers and get a 30 second animated explainer back โ†’ Your app's onboarding walkthrough, fully animated, no motion designer โ†’ Drop it into Higgsfield or Runway and add real footage on top I've been getting Claude to code motion graphics for a while now, and setting it up was always the hard part. If you make any kind of video for your business and you're not trying this soon, you're doing it the slow way.
Claude Dashboards and Claude Motion are in beta today. Ask Claude to turn your data into live dashboards and your ideas into animated explainers.
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12:21pm. Friday, October 9th. Burning vehicle on 3rd mainland bridge heading towards the mainland #Fire #Lagos
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๐…๐„๐ƒ๐„๐‘๐€๐‹ ๐Œ๐ˆ๐๐ˆ๐’๐“๐‘๐˜ ๐Ž๐… ๐…๐ˆ๐๐€๐๐‚๐„ ๐๐‘๐„๐’๐’ ๐‘๐„๐‹๐„๐€๐’๐„ ๐˜ˆ๐˜ฃ๐˜ถ๐˜ซ๐˜ข, ๐˜•๐˜ช๐˜จ๐˜ฆ๐˜ณ๐˜ช๐˜ข โ€” 9 ๐˜–๐˜ค๐˜ต๐˜ฐ๐˜ฃ๐˜ฆ๐˜ณ 2026 ๐“๐ก๐ž ๐๐๐๐‚ ๐‘๐ž๐ญ๐š๐ข๐ฅ ๐ƒ๐ข๐ฌ๐œ๐จ๐ฎ๐ง๐ญ ๐ˆ๐ฌ ๐๐จ๐ญ ๐š ๐’๐ฎ๐›๐ฌ๐ข๐๐ฒ: ๐๐จ ๐๐ฎ๐›๐ฅ๐ข๐œ ๐Œ๐จ๐ง๐ž๐ฒ ๐ˆ๐ฌ ๐ˆ๐ง๐ฏ๐จ๐ฅ๐ฏ๐ž๐ ๐˜›๐˜ฉ๐˜ฆ ๐˜ฅ๐˜ช๐˜ด๐˜ค๐˜ฐ๐˜ถ๐˜ฏ๐˜ต ๐˜ญ๐˜ฐ๐˜ธ๐˜ฆ๐˜ณ๐˜ด ๐˜ฑ๐˜ณ๐˜ช๐˜ค๐˜ฆ๐˜ด ๐˜ง๐˜ฐ๐˜ณ ๐˜ค๐˜ฐ๐˜ฏ๐˜ด๐˜ถ๐˜ฎ๐˜ฆ๐˜ณ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ค๐˜ข๐˜ฏ ๐˜ด๐˜ต๐˜ณ๐˜ฆ๐˜ฏ๐˜จ๐˜ต๐˜ฉ๐˜ฆ๐˜ฏ ๐˜•๐˜•๐˜—๐˜Š ๐˜™๐˜ฆ๐˜ต๐˜ข๐˜ช๐˜ญโ€™๐˜ด ๐˜ฃ๐˜ถ๐˜ด๐˜ช๐˜ฏ๐˜ฆ๐˜ด๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ฑ๐˜ณ๐˜ฐ๐˜ง๐˜ช๐˜ต๐˜ด ๐˜ข๐˜ต ๐˜ต๐˜ฉ๐˜ฆ ๐˜ด๐˜ข๐˜ฎ๐˜ฆ ๐˜ต๐˜ช๐˜ฎ๐˜ฆ. Since 1 October 2026, motorists have been paying less for petrol at NNPC Retail Limited stations, following a discount on the companyโ€™s retail margin. We welcome the relief this brings to households, commuters and transporters. Some commentators have described the discount as a return of fuel subsidy. That is not correct. Here, plainly, is what the discount is and what it is not. 1. ๐€ ๐Œ๐š๐ซ๐ ๐ข๐ง ๐ƒ๐ข๐ฌ๐œ๐จ๐ฎ๐ง๐ญ ๐š๐ง๐ ๐š ๐’๐ฎ๐›๐ฌ๐ข๐๐ฒ ๐€๐ซ๐ž ๐๐จ๐ญ ๐ญ๐ก๐ž ๐’๐š๐ฆ๐ž Every marketer adds a margin to the price it pays for the fuel it sells. A margin discount means the retailer chooses to take a smaller margin, or no margin at all for a period, and passes the saving to the customer. The cost of the discount is borne by the retailer alone. A subsidy is different. It is when government pays part of the price the consumer would otherwise pay. That money comes from public revenue โ€” funds that would otherwise go to salaries, schools, hospitals and infrastructure. That is the regime this administration ended in 2023, and it is not coming back. 2. ๐๐จ ๐๐ฎ๐›๐ฅ๐ข๐œ ๐Œ๐จ๐ง๐ž๐ฒ ๐๐š๐ฒ๐ฌ ๐Ÿ๐จ๐ซ ๐ญ๐ก๐ž ๐ƒ๐ข๐ฌ๐œ๐จ๐ฎ๐ง๐ญ The discount is not funded by the federal budget or the Federation Account. NNPC Retail buys petrol from the Dangote Refinery and other suppliers at market prices, on commercial terms, then adds its retail margin to set the pump price. The discount comes out of that margin alone, so the discounted pump price remains market-reflective. This is quite different from crude oil owned by the Federation. Selling the nationโ€™s crude below market price would amount to a subsidy, because the shortfall would be borne by public revenue. 3. ๐๐๐๐‚ ๐‘๐ž๐ญ๐š๐ข๐ฅ ๐ˆ๐ฌ ๐ƒ๐จ๐ข๐ง๐  ๐–๐ก๐š๐ญ ๐ˆ๐ญ ๐–๐š๐ฌ ๐’๐ž๐ญ ๐”๐ฉ ๐ญ๐จ ๐ƒ๐จ NNPC Retail Limited, a wholly owned subsidiary of NNPC Limited, began operations over 20 years ago as a petroleum marketing and retail company. It was set up to ensure the nationwide availability, distribution and affordability of refined petroleum products. Its purpose, in other words, is to keep products available across the country and to moderate retail prices, not necessarily to maximise retail profit. It has historically sold fuel below the prices of other marketers. The current discount continues that role, and it is a commercial decision that any retailer is free to make. 4. ๐“๐ก๐ž ๐ƒ๐ข๐ฌ๐œ๐จ๐ฎ๐ง๐ญ ๐ˆ๐ฌ ๐๐จ๐ญ ๐„๐ฑ๐ฉ๐ž๐œ๐ญ๐ž๐ ๐ญ๐จ ๐‘๐ž๐๐ฎ๐œ๐ž ๐…๐ž๐๐ž๐ซ๐š๐ญ๐ข๐จ๐ง ๐ƒ๐ข๐ฏ๐ข๐๐ž๐ง๐๐ฌ Some have asked whether a lower margin means lower profits for NNPCL, and so lower dividends to the Federation. It need not. A smaller margin or temporary zero margin on each litre can be more than offset by selling more litres over time. And a discount builds customer loyalty that lasts well beyond the discount period itself. Together, these can raise NNPC Retailโ€™s profits, and the dividends paid to the Federation: a win-win for consumers and for government. Margin discounts are a routine commercial strategy, used by retailers the world over. 5. ๐“๐ก๐ž ๐ƒ๐ข๐ฌ๐œ๐จ๐ฎ๐ง๐ญ ๐–๐ข๐ฅ๐ฅ ๐๐จ๐ญ ๐ƒ๐ข๐ฌ๐ญ๐จ๐ซ๐ญ ๐ญ๐ก๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐จ๐ซ ๐„๐ง๐œ๐จ๐ฎ๐ซ๐š๐ ๐ž ๐’๐ฆ๐ฎ๐ ๐ ๐ฅ๐ข๐ง๐  The retail margin on petrol is less than 5 percent of the pump price. A discount within that margin cannot meaningfully widen the gap between prices in Nigeria and in neighbouring countries, where petrol already costs 20 to 40 percent more. It therefore creates no new incentive for smuggling, and no distortion of the kind that subsidy regimes produced in the past. ๐“๐ก๐ž ๐๐จ๐ญ๐ญ๐จ๐ฆ ๐‹๐ข๐ง๐ž .๐‘จ ๐’”๐’–๐’ƒ๐’”๐’Š๐’…๐’š ๐’”๐’‘๐’†๐’๐’…๐’” ๐’‘๐’–๐’ƒ๐’๐’Š๐’„ ๐’Ž๐’๐’๐’†๐’š ๐’•๐’ ๐’๐’๐’˜๐’†๐’“ ๐’•๐’‰๐’† ๐’‘๐’“๐’Š๐’„๐’† ๐’๐’‡ ๐’‡๐’–๐’†๐’. ๐‘ป๐’‰๐’† ๐‘ต๐‘ต๐‘ท๐‘ช ๐‘น๐’†๐’•๐’‚๐’Š๐’ ๐’…๐’Š๐’”๐’„๐’๐’–๐’๐’• ๐’๐’๐’˜๐’†๐’“๐’” ๐’•๐’‰๐’† ๐’‘๐’“๐’Š๐’„๐’† ๐’˜๐’Š๐’•๐’‰๐’๐’–๐’• ๐’”๐’‘๐’†๐’๐’…๐’Š๐’๐’ˆ ๐’‚๐’๐’š ๐’‘๐’–๐’ƒ๐’๐’Š๐’„ ๐’Ž๐’๐’๐’†๐’š, ๐’‚๐’๐’… ๐’Š๐’• ๐’„๐’‚๐’ ๐’”๐’•๐’“๐’†๐’๐’ˆ๐’•๐’‰๐’†๐’ ๐‘ต๐‘ต๐‘ท๐‘ช ๐‘น๐’†๐’•๐’‚๐’Š๐’โ€™๐’” ๐’ƒ๐’–๐’”๐’Š๐’๐’†๐’”๐’” ๐’‚๐’• ๐’•๐’‰๐’† ๐’”๐’‚๐’Ž๐’† ๐’•๐’Š๐’Ž๐’†. We recognise that fuel prices continue to weigh on households and businesses. The discount is one of several measures government is pursuing to ease that burden, alongside the expansion of CNG transport, the waiver of taxes and duties on petrol, and the removal of illegal levies that inflate transport costs. Each is designed to bring relief without returning Nigeria to a subsidy regime that the country can no longer afford. ๐“๐š๐ข๐ฐ๐จ ๐Ž๐ฒ๐ž๐๐ž๐ฅ๐ž ๐˜๐˜ฐ๐˜ฏ๐˜ฐ๐˜ถ๐˜ณ๐˜ข๐˜ฃ๐˜ญ๐˜ฆ ๐˜”๐˜ช๐˜ฏ๐˜ช๐˜ด๐˜ต๐˜ฆ๐˜ณ ๐˜ฐ๐˜ง ๐˜๐˜ช๐˜ฏ๐˜ข๐˜ฏ๐˜ค๐˜ฆ ๐˜ข๐˜ฏ๐˜ฅ ๐˜Š๐˜ฐ๐˜ฐ๐˜ณ๐˜ฅ๐˜ช๐˜ฏ๐˜ข๐˜ต๐˜ช๐˜ฏ๐˜จ ๐˜”๐˜ช๐˜ฏ๐˜ช๐˜ด๐˜ต๐˜ฆ๐˜ณ ๐˜ฐ๐˜ง ๐˜ต๐˜ฉ๐˜ฆ ๐˜Œ๐˜ค๐˜ฐ๐˜ฏ๐˜ฐ๐˜ฎ๐˜บ ๐๐จ๐ญ๐ž ๐ญ๐จ ๐ž๐๐ข๐ญ๐จ๐ซ๐ฌ: The Ministerโ€™s full speech, ๐˜๐˜ถ๐˜ฆ๐˜ญ ๐˜—๐˜ณ๐˜ช๐˜ค๐˜ฆ๐˜ด ๐˜ข๐˜ฏ๐˜ฅ ๐˜ต๐˜ฉ๐˜ฆ ๐˜š๐˜ถ๐˜ฃ๐˜ด๐˜ช๐˜ฅ๐˜บ ๐˜˜๐˜ถ๐˜ฆ๐˜ด๐˜ต๐˜ช๐˜ฐ๐˜ฏ, is available on the Federal Ministry of Finance website at finance.gov.ng.
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Vice President JD Vance announces the suspension of the PERM Program for Microsoft: "Thanks to an ongoing investigation, we have decided to suspend the PERM program for Microsoft, which means they will no longer be able to take those H-1Bs and apply for permanent resident status within the United States of America. Now our message to Microsoft and to any other foreign or domestic corporation is quite simple. We obviously want you to thrive in the United States of America. We want people to invest in the United States of America, particularly the American technology sector. Weโ€™re the biggest boosters of your industry. We want you to continue to grow and to employ a lot of people, but we want you to employ American workers. And so our message to Microsoft is, youโ€™re great American company, but youโ€™ve got to hire great American workers. You cannot lay off American workers and then replace them with foreign indentured servants."
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