• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    Kenya Sets up Online Platform for Women Traders
    Access Bank Zambia decided to coalesce with African Banking Corporation
    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)
    $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness
    New Era for Equatorial Guinea and Cameroon, Signing  Bilateral Agreement through Cross-Border Cooperation
    South Africa and Stellantis has Greeted a Pact to Develop a Unique Automobile Manufacturing Facility
    Dr. Akinwumi Adesina AfDB’s President maintains it is time to Develop Youth-Based Wealth to Bolster a Better Comprehensive Nigerian Economy
    Abidjan to host on March 17th 2023 the 8th Session of the Steering Committee for the Construction Project of a Motorway between Abidjan and Lagos
    Rwanda’s President Paul Kagame and the President of the World Football Association(FIFA) launched the Kigali Pelé Stadium which is changing the name from Kigali Regional Stadium In Nyamirambo the Capital of Kigali

    Kenya’s President William Ruto begets to Purchase Russia Fuel in a bid to Slash Cost of Living

    Posted On 28 Sep 2022
    By : New Africa Business News, Staff Correspondent
    Comment: 0

    By Abdul Rahman Bangura–

    Photo credit: Unsplash

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone – In an interview with BBC, the Head of State told that, he will ponder all druthers in a motion to lessen the cost of fuel prices after the fuel subsidy was removed.

    “All options are available to us as a country. East Africa would be a good option but Kenya is what we are going to be focusing on,” Ruto stated.

    “The strategy we have is to ensure that we work with the market forces on how we can have a government-to government relationship that will get us fuel at probably Ksh 20 to Ksh 25% inexpensive than in the market,” he strengthened.

    Ruto accentuated that, despite the high fuel prices flirted with by the termination of the subsidy, he had seized advantage of the loopholes that enabled space for corruption.

    “Those are the interventions I am looking at but I had to remove the subsidies because they were a huge drain on resources that would be used for the development of the country and yet the prices were not coming down and it was generally distorting prices of fuel in the country and creating unnecessary shortages,” he asserted.

    He upheld the determination by pinpointing that, they were apt to save reserves that will be used for the nation’s enormous growth.

    “We now have gotten rid of shortages, we haven’t gotten rid of the high prices but we have done two things, we have saved money that was going down the drain with cartels in the subsidy program and we have eliminated shortages, and I am now moving to the agenda of making sure that we have government government relationships that will progressively begin the journey to bring the prices of fuel down.” He started.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    The Chief Executive Officer of National Elections Watch (NEW) of Sierra Leone urged for Patience with the Public on Current Rarities in the ongoing Voter Registration Process

    Next Story

    African Development Bank Issued $100m Bond

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    Kenya Sets up Online Platform for Women Traders

    Posted On 28 Mar 2023

    Access Bank Zambia decided to coalesce with African Banking Corporation

    Posted On 27 Mar 2023

    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)

    Posted On 25 Mar 2023

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    New Africa Business News, Person of the Year 2021-2022, Goes to African Women

    Posted On 29 Jan 2022

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Thanks for reading, Africa’s fastest...

    Posted On 26 Feb 2023

    Facebook

    Latest Posts

    Kenya Sets up Online Platform for Women Traders

    Access Bank Zambia decided to coalesce with African Banking Corporation

    Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)

    Recent Posts

    • Kenya Sets up Online Platform for Women Traders
    • Access Bank Zambia decided to coalesce with African Banking Corporation
    • Economic and Monetary Community of Central Africa (CEMAC) agreed on to quit in using the Franc CFA (FCFA)
    • $12 Billion Environment Financing Center – The Green Climate Fund permitted to earn African Equity Financial Investment to overcome the Impact of a Warming World
    • President Samia Suluhu Hassan of Tanzania Inaugurated an Agriculture Program hoped at Committing the Youth to Large-Scale Agribusiness

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • NGO
    • Obituary
    • Opinion
    • Public Notice
    • Sport
    • Video

    Tag Cloud

    african economy business africa

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.