Nigeria’s fuel subsidy removal is affecting refineries far away in Europe and threatening to squeeze European refiners, Reuters reports.

The average monthly West African (WAF) gasoline imports fell by 56 per cent in the second quarter compared with the first, according to Refinitiv Eikon data.

North America and West Africa, with Nigeria at the top, historically have been the top two destinations for petrol exports from Europe (which produces more petrol than it uses), Reuters reported.

So far, benchmark profit margins for gasoline in northwestern Europe have hovered at around $27 a barrel, Reuters said, citing Refinitiv Eikon data.

“They have been supported by demand from North America, a shortage of high-quality blending materials, disruption caused by low water levels inland and local refinery outages,” the report reads.

“But analysts say the reduction of flows following the upheaval in Nigeria will increase pressure on European refiners, and any winners are likely to be newer Middle Eastern refineries.”

At the end of May, President Bola Tinubu announced that the petrol subsidy regime was over.

Petrol demand in response fell by 35 per cent, according to the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

According to Jeremy Parker of the CITAC consultancy, which focuses on Africa’s downstream energy industry, onshore petrol reserves in Nigeria have increased to 960,000 tonnes from an average of 613,000 tonnes between January and June, signalling a decline in demand.

“Meanwhile, the black market for smuggled subsidised Nigerian fuel in Togo and neighbouring Benin and Cameroon has collapsed, further reducing demand for shipments via Nigeria,” Reuters said.

“There is no reliable data on how much fuel was smuggled out of Nigeria under the subsidy regime, but a comparison of estimates from official and independent sources indicate more than a third of petrol could have left state oil firm NNPC’s depots every day to be sold illegally abroad.

“Without the subsidy, the financial incentive for smuggling disappears.”

“The key point is that demand from West Africa is drying up,” Reuters quoted Raj Rajendran, Refinitiv lead oil analyst, as saying.

Nigeria, Africa’s largest crude oil producer, relies heavily on imports because of its inadequate domestic refining capacity.

“Imports, however, are increasingly unaffordable as Nigeria’s naira has weakened to record lows since the central bank removed currency restrictions in June. At the same time, inflation is near two-decade highs,” Reuters said.

“The huge, much-delayed Dangote refinery was designed to address the domestic supply shortfall, but full 650,000 barrel per day production is unlikely before the second quarter of 2025, CITAC estimates.”

Regardless, it is possible that the demand for petrol would not fully recover in the country, Analysts told Reuters.

Recall that the NMDPRA said the volume of Premium Motor Spirit, popularly called petrol, consumed across the country in the first half of 2023 was 11.26 billion litres, with consumption reducing by an average of about 18.5 million litres daily in June, after the removal of subsidy on petrol, following the pronouncement by President Bola Tinubu on May 29, 2023.

Data from the Authority showed that between January 1 and May 28, 2023, which was the pre-deregulation period, the total amount of petrol consumed nationwide was about 9.9 billion litres.

The average consumption for the 148-day period was put at 66.9 million litres, indicating the country consumed an average of 66.9 million litres of petrol daily during the five-month period when subsidy on petrol was still in place.

But figures from the NMDPRA indicated that between June 1 to June 28, 2023, which was described as the post-deregulation period, the total petrol consumption across the country was 1.36 billion litres, while the average daily consumption was put at 48.43 million litres.

An analysis of the data showed that the difference between the average monthly consumption figures during the pre-deregulation and post-deregulation periods was about 18.5 million litres.

This implies that the average daily consumption of petrol across the country reduced by about 18.5 million litres after subsidy on the commodity was stopped by the federal government.

It was, however, observed that petrol consumption rose above 100 million litres in some days, while it fell to below 10 million litres in a few other days.

A random pick of petrol consumption figures contained in the NMDPRA report, for instance, showed that on March 8, April 20, and May 16, Nigerians consumed 103.6 million litres, 105.02 million litres, and 101.9 million litres respectively.

These were during the ore-deregulation days, as figures from the post-deregulation period indicated that the country never consumed beyond 78.84 million litres all through the 28-day period captured in the document.

The 78.84 million litres was consumed on June 20, and it was the highest consumption figure during the post-deregulation period, while the lowest figure during the same period was the 470,000 litres that was consumed nationwide on June 11.

Days after the submission of the first batch of ministerial nominees to the Senate, President Bola Tinubu plans to restructure some federal government ministries.

Some will be merged, others will be created, and a few will be scrapped.

This reshuffle is based on the Stephen Oronsaye report’s recommendations on restructuring the civil service.

According to Punch, President Tinubu is set to implement some of these recommendations.

The Ministries of Education, Youths and Sports Development, Agricultural and Rural Development, Solid Minerals, Works and Housing, Power, and Humanitarian Affairs, Disaster Management and Social Development are among those being considered for restructuring. These changes will also lead to the creation of new ministries.

There are plans to split the Ministry of Education into two: the Ministry of Tertiary Education and the Ministry of Basic Education, each overseeing tertiary and primary and secondary education respectively.

“The decision to create two ministries would improve the quality of service delivery in the two sectors,” sources in the civil service revealed.

The Ministry of Works and Housing will be unbundled, with a standalone Ministry of Works focusing on federal roads and highways and a revamped Ministry of Housing aimed at stimulating economic growth.

The Ministry of Humanitarian, Social Development and Disaster Management will be transformed into the Ministry of Human Development, with social development as one of its responsibilities.

The Federal Ministry of Transportation will be split into the Ministry of Railways and Rail Transport and the Ministry of Waterways and Marine Transportation.

The Ministry of Information will be renamed the Ministry of Information and National Orientation, with the National Orientation Agency taking on a significant role in disseminating information to the public.

Other new ministries will include Solid Minerals and Iron and Steel Development.

The Ministry of Budgeting and National Planning will be restructured, with budgeting merged with the Ministry of Finance, and National Planning moved to the newly formed Ministry of Statistics.

The Ministry of Commerce and Industry will also see changes, with the commerce component moved to the Ministry of Trade and Investment, and the industry component transferred to the new Ministry of Employment and Industry.

The Chief of Staff to the President, Femi Gbajabiamila, hinted at these changes in a recent interaction with journalists.

However, it remains unclear whether the Tinubu administration will scrap some ministries and agencies per the Oransanye report.

Despite this uncertainty, experts believe the restructuring process will benefit certain ministries and facilitate the steady implementation of government policies.

CITIZENS, including lawyers, human rights activists, academics, and artisans have faulted the palliative measures put in place by some state governments to bolster the consequence of the removal of fuel subsidy on the people, saying it was a wrong strategy.

Some governments announced payment of N10,000 monthly for public sector workers, some allowances for medical personnel and occasional distribution of food to the poor and most vulnerable households as well as free bus rides for students of tertiary institutions. In their reactions, a number of the residents insisted that it was a rip-off while others said the Federal Government should have put in place a proper plan before getting rid of fuel subsidy.

Professor Ihechukwu Madubuike, two-time Minister of Education and Health, said that for any palliative option to be meaningful, it should not be selective but one that would impact everybody. He argued that the effects of fuel subsidy removal “is on everybody” irrespective of one’s socio-economic status, hence, nobody should be discriminated against in government palliatives.

“The effects of fuel subsidy removal are on every citizen. So, the government should think of cushioning plans that everybody will benefit from.” Professor Madubuike blamed President Bola Ahmed Tinubu for hastily removing fuel subsidies without any ready action plan to cushion the effects of the removal.

He said that the savings from the fuel subsidy should be evenly distributed to benefit all citizens irrespective of their class because everybody gets the heat of the subsidy removal.

He said that the first step to be taken by the government to cushion the effects of subsidy removal was to crash the cost of governance. He said it was a contradiction for the government to be talking of fuel subsidy removal on the one hand, only to be recklessly increasing the cost of governance on the other hand. “Our Presidents are behaving like kings and monarchs. But monarchy is gone even in Britain, people oppose it now”. The former Education Minister who decried the high cost of governance in the country insisted that only a conscious downscaling of the cost of governance will save Nigeria from imminent insolvency. The former Minister for Health also strongly advocated a shift from consumption to production. He regretted that Nigeria had remained the only oil-producing country without a functional oil refinery, a development, he said, smacks of cluelessness in leadership. “We must think differently if we must move forward as a nation. We must start producing something, and stop being a consuming nation”.

Mr Ayo Fadaka, former South-West Zonal Publicity Secretary of the People’s Democratic Party, PDP said, ”we have a fundamental economic problem that can only be addressed through a comprehensive action and not tokenism as currently obtained by state governments reactions. The Tinubu administration that exacerbated our economic woes is yet to put on its thinking cap in the midst of this crisis and that is disappointing. Government at all levels must think deeply and rescue Nigerians from serious economic woes, as failure to do that is simply to plan for a crisis. We are all poor now and rapidly reverting to hitherto unimaginable practices as people now trek kilometers to eke a living, this is not an advancement but retrogression.

Before Tinubu’s inauguration, the poor could still get an uninspiring meal for N100, that is no longer possible today because of the accelerating and galloping speed of inflation. The devaluation of the Naira clearly indicates that President Tinubu did not come into office prepared to tackle the sloppiness of the Buhari era but to accentuate same and this is disappointing when due cognisance is accorded to the education and training of both men, Buhari was a soldier with a questionable O Level result while Tinubu is a certified accountant with a pedigree. We are suffering in today’s Nigeria and we need help, I just hope that one day soon, social crisis will not erupt and create a dislocation that will be very costly to the nation.

The Peoples Democratic Party, PDP, and its governorship candidate in the March 18 election in Ogun State, Ladi Adebutu, Friday, closed their case before the Ogun State Election Petition Tribunal, after calling 94 witnesses.

The petitioner, who is challenging the victory of Governor Dapo Abiodun and the All Progressives Congress, APC, in the election, also tendered over 200,000 documents, including a forensic expert report.

In the last two weeks they opened their case, the petitioners called voters and party agents from Sagamu, Ikenne, Odogbolu, Remo North, Ogun Waterside, Ijebu-Ode, Abeokuta South, Abeokuta North, Ado-Odo/Ota and other local governments as witnesses to prove alleged disruptions in different polling units across the State.

The petitioner also subpoened two INEC adhoc staff, an official of the West African Examination Council (WAEC), a statistician and a forensic expert to testify before the tribunal.

Adebutu also tendered in evidence, certified true copies of INEC electoral materials, result sheets, voters registers, printouts from the Bimodal Voters Accreditation (BVAS) machines, incident forms, video evidence, and others.

Adebutu and PDP had alleged, in the petition, that elections were disrupted by thugs in over 99 polling units, disenfranchising over 40, 000 voters from participating in the polls.

With this, Adebutu and the PDP said they have closed their cases, waiting for the petitioners – INEC, Abiodun and the APC to open their defence.
Addressing newsmen after the sitting, counsel to the petitioners, Chris Uche, disclosed that, “We have called 94 witnesses on behalf of the petitioners and we have tendered over 200,000 INEC documents before the court as well as our own documents.”

Uche explained that, having done all these, “we formerly ended the calling of witnesses on behalf of the petitioners. It is the turn of the respondents to start their response. They have asked for an adjournment to Wednesday, which has been granted to them.

“When we come on Wednesday, we’ll find out what their defence to all these various allegations in respect of which we’ve brought overwhelming evidence before the court is. And we are going to confront them with all these documents we have tendered if they call their witnesses.

Meanwhile, INEC is expected to open its defence on Wednesday, being the first respondent in the petition.

INEC’s Counsel, Abiodun Owonikoko, SAN, during the pre-hearing session told the tribunal that the electoral umpire would be calling just one witness.

The National Executive Council, NEC, of the Nigeria Labour Congress, NLC, has endorsed the August 2 nationwide strike and mass protests by NLC over the recent hike in pump price of petrol.

In a communique issued at the end of the NEC meeting on Thursday, NEC members also approved other decisions reached by the Central Working Committee, CWC, of NLC, held on July 25, 2023.

The Communique signed by President and General Secretary of NLC, Joe Ajaero and Emma Ugboaja respectively, reads and others, “NEC-in-session after exhaustively deliberating and reviewing the current socioeconomic situation confronting Nigerian workers and masses and the attendant mass sufferings and deprivation across the nation as a result of the unfortunate actions and Policies of the current occupiers of the seat of
Government arrived at the following conclusions in agreement with the Central Working Committee’s (CWC) earlier deduction that the government has shown disdain and contempt to the plight of Nigerians, shunning reasonable dialogue and refusing to take active measures to protect Nigerians instead it resorted to robbing the people to pay the rich despite the massive outcry across the nation.

“To this end, NEC-in-session applauds, Re-affirms and supports all the decisions of the Central Working Committee Meeting of the 25th of July, 2023 of the immediate reversal of all anti-poor policies of the federal government including the recent hike in PMS price, Increase in Public School fees, the release of the eight months withheld Salary of University lecturers and Workers and increase in VAT.

“The immediate inauguration of the Presidential Steering Committee as agreed in the earlier consequential dialogues, to begin the building across the nation of a Coalition of all Nigerians where all will be leaders and all will be followers, to call on all civil society organisations and Nigerians wherever they may be to begin mobilization to take action on theirown to save our nation and to lead and organize mass protest rallies across the nation to demonstrate outrage against the inhuman actions and policies ofthe government.

NEC agreed “to give the federal government a Seven- Day ultimatum within which to meet all our demands and to embark on a nation – wide action beginning Wednesday the 2nd of August, 2023 to compel the government to reverse its anti-poor and anti-workers policies.

“NEC Consequently directs all Affiliates and State Councils to begin immediate mobilization and closely work with associations, individuals and other entities including the ones already on the streets to ensure that government listens to the people.”

Members of NEC “insisted that the unseriousness of the federal Government towards the creation of frameworks to cushion the impact of its hike in the price of Premium Motor Spirit (PMS) or Petrol was demonstrated not only in the quality of its representation in the hastily called meeting of yesterday (Wednesday) but also in their unpreparedness to deal with the issues as canvassed.

“NEC therefore set up strategy committees across all the states urging all affiliates and State Councils including the civil society to come out beginning Wednesday, the 2nd ofAugust, 2023 across the nation to protest Government’s insensitivity to the plights of Nigerians.”

The Nigeria Labour Congress (NLC) has accused the Federal Government of applying blackmail and malice to force it into abandoning the nationwide protest fixed for Wednesday, August 2.

It said the attention of the congress has been drawn to the statement by the Solicitor-General of the Federation and Permanent Secretary, Ministry of Justice, Mrs B.E. Jedy-Agba, to its notice of protest against the latest hike in pump price of Premium Motor Spirit (PMS).

In a statement signed by NLC’s Head of Information and Public Affairs, Benson Upah, the congress said the Solicitor-General lied when she held that organised labour was still under a restraining court order to organise the protest.

NLC said: “The restraining order which Mrs Jedy-Agba talks about pertains to our notice of strike in early June as a result of the increase in pump price of PMS from N190 to N537. We are not aware it is a perpetual injunction which covers anything/everything Congress does from now to eternity. This certainly will go against the grain of justice.

“It is important to note that our present notice of peaceful protest in conjunction with civil societies, individuals, associations and communities of the willing, has nothing to do with the previous increase by the NNPC but has everything to do with market forces that propelled pump prices to new heights of N617.

“This is a new matter entirely which the previous order did not contemplate or affect. We are concerned about the comments of Mrs Jedy-Agba for their untruths, malice, blackmail and deficiency in law.”

NLC had earlier issued a seven-day notice of nationwide protest to the Federal Government staring from Wednesday, August 2.

In a communique at the end of the National Executive Council (NEC) meeting, the NLC resolved “to give the Federal Government a seven-day ultimatum within which to meet all our demands and to embark on a nationwide action beginning Wednesday the 2nd of August, 2023 to compel the government to reverse its anti-poor and anti-workers policies”.

In the communiqué jointly signed by the NLC President, Joe Ajaero and General Secretary, Emma Ugboaja, the NLC NEC re-affirmed all the decisions of its Central Working Committee (CWC) meeting of the 25th of July in which it demanded the immediate reversal of all anti-poor policies of the Federal Government including the recent hike in PMS price, increase in public school fees, the release of the eight months withheld salaries of university lecturers and workers and increase in VAT.

NLC also demanded the immediate inauguration of the Presidential Steering Committee as agreed in the earlier consequential dialogues.

Ahead of the national protest, NLC has sought the support of the civil society organisations and Nigerians wherever they may be to begin mobilization and to lead the mass protest rallies across the nation to demonstrate outrage against the inhuman actions and policies of the government.

President Bola Tinubu on Friday affirmed that the Federal Government is ready to support global tech giant, Google Incorporated, to create one million digital jobs in Nigeria.

He gave the assurance at the Presidential Villa, Abuja, Friday during the visit of Google Global Vice President, Mr Richard Gingras, to his office.

Tinubu told the visiting Google executive that Nigeria had creative and talented young people who are ready and motivated to learn especially at this age of Artificial Intelligence, stressing that the tech giant has the capabilities and tools that the young people need to excel.

A statement issued by Dele Alake, Special Adviser to the President (Special Duties, Communications & Strategy) quoted the President as saying: “I am glad that Google is ready to partner with us. You have answered our call on digital innovation and to help our youths. You are supporting our efforts to promote the digital economy. We are ready to work with you on your commitment to create 1 million digital jobs in Nigeria.

“We will give you all the support you need to have a beneficial corporate responsibility. We have started our economic reforms, even though tortuous.”

On Google’s promotion of free speech, freedom of the press and democracy through its platforms, President Tinubu declared that it is in the public interest that free speech and press freedom should not be impeded.

“It is in the public interest to continue to defend free press and free speech. We are committed to supporting a free society,” the President said.

In his address, the Google Vice President had earlier told President Tinubu that he was in Nigeria for the West Africa Journalism Innovation Conference.

He said he had been inspired by the creativity and talent of young people in Nigeria who are embracing technology and digital tools to expand access to information and promote democracy.

Gingras told President Tinubu that his organisation has a deep interest in Nigeria and stands ready to support the Federal Government.

He listed the many capabilities of Google including areas of Artificial Intelligence and other digital innovations that are empowering young people to become digital entrepreneurs, adding that Google subsea cable, Equiano named after Nigerian slave abolitionist will significantly impact future internet connectivity demands landed in Nigeria in April 2022.

He also promised that Google would help to secure Nigeria in the age of disinformation and fake news, saying that his organisation seeks to continue its partnership with the Nigerian government.

“Google has a deep interest in Nigeria. We want to support the government’s efforts to create 1 million digital jobs. We have all the tools and capabilities to make this happen. We will also help to secure Nigeria and we have discussed that with your National Security Adviser.

“I came to Nigeria to learn. I am going back home very impressed with what I saw. You have very vibrant, creative and talented young people who are embracing innovation.

“We will continue to support your programmes to expand your digital economy,” Gingras said.

He was accompanied on the visit by Adewolu Adene, Government and Public Affairs Manager for Google in West Africa, Adewolu Adene and Premium Times Publisher, Mr. Dapo Olorunyomi.

The Edo State Police Command has arrested a former banker, Gift Igbinosun, 35, for allegedly defrauding John Nnamdi and Obasogie Osagieduwa of over N14.9m.

The police spokesperson in the state, Chidi Nwabuzor, said the suspect who was sacked by her employer, a commercial bank, two years ago defrauded the victims under the pretence of helping them to get new notes.

He said the suspect was arrested on July 20 by operatives attached to the State Intelligence Bureau while acting on a complaint of alleged impersonation, conspiracy, advance fee fraud, obtaining money by false pretence, fraudulent conversion and stealing reported by the victims.

He said, “The suspect paraded herself as a staff member of Keystone Bank and fraudulently obtained N7.35m from Mr John Onuora Nnamdi. Also, the suspect paraded herself as a staff member of the same bank and fraudulently obtained N7.6m from Mr Obasogie Osagieduwa.

“They gave her the money with the hope that as she was collecting the money, she would replace them with new notes, not knowing that she was no longer working with the bank.”

Nwabuzor said investigation had been concluded and the suspect would be charged to court.

The suspect told journalists, “Before now, I have been giving Nnamdi clean notes and he would give me a commission. But I couldn’t meet up any more, so I owed him. The second person, Henry, I couldn’t give him any mint but I returned N2.5m to him, remaining the balance of N5.1m. This has been going on for some months now. I was sacked by the bank about two years ago.”

The National Association of Resident Doctors (NARD) expressed their dissatisfaction with the approved N25,000 allowance for doctors by the President Bola Tinubu-led Nigerian government, calling it laughable.

The NARD President, Dr Emeka Oji, conveyed this during an interview with journalists. The industrial action initiated by the NARD continues.

Dr Oji’s remarks came in response to the statement made by Ekpo Nta, the Chairman and Chief Executive Officer of the national salary and wages commission, who had announced the approval of the N25,000 allowance for doctors on Thursday.

According to him, “The Federal Government has approved the payment of an Accoutrement allowance of twenty-five naira (N25,000.00) per quarter to Medical and Dental Doctors in hospitals, medical centres, and clinics in the Federal Public Service. The allowance is to be paid from the overhead budget.

“The approval takes effect from June 1, 2023. All enquires relating to this circular should be directed to the Commission.”

Reacting to the above in a telephone conversation with Vanguard, Emeka Oji said, “the N25,000 allowance to doctors is laughable. The ongoing strike continues. We are currently in a meeting. NARD will issue a statement regarding to N25,000.00 allowance.”

On Tuesday reported that the NARD declared another round of industrial action over its lingering demands that have not been addressed.

NARD on July 5 issued a two-week ultimatum to the Nigerian government for the implementation of all its demands.

The Speaker of the House of Representatives, Tajudeen Abbas, later held deliberations with the leadership of NARD behind closed doors where he promised to meet with President Bola Tinubu to avert the planned industrial action.

However in a statement on Tuesday, the doctors in public health facilities declared a “total and indefinite strike action.”

The association listed its demands to include the immediate payment of the 2023 MRTF, the immediate release of the circular on one-for-one replacement, and the payment of skipping arrears.

Former President Muhammadu Buhari expressed disbelief over the coup d’état that removed former President Bazoum of the Niger Republic.

Buhari said this while endorsing President Bola Tinubu’s capacity to handle the problem.

Buhari prayed that Tinubu would be able to change the course of events and assure Bazoum and his family’s safety.

Tweeting, Buhari wrote: “As to be expected, I, like millions of other Nigerians, am shocked by the latest turn of events in Niger Republic.

“Concerns have been raised about the fate of democracy as a system of government in the country and in the wider sub-region, and equally so, about the safety of President Mohammed Bazoum and his family.

“I and my family are as much concerned about these as is everyone else.

“It is heartening to note that the ECOWAS, under the leadership of President Bola Ahmed Tinubu, is already dealing effectively with the matter, and our hope and prayers are that the unwanted situation will be completely reversed, and the safety and wellbeing of President Bazoum and his family ensured.”