Former Nigeria captain, Austin ‘Jay Jay’ Okocha has given his opinion in the debate over who is the greatest footballer of all time, GOAT, Lionel Messi or Cristiano Ronaldo.

Messi and Ronaldo’s rivalry has dominated football conversations for almost two decades.

The two players have shared 13 Ballon d’Or awards between them, with Messi taking home eight of that number.

In a recent interview with Pulse Fun Facts, Okocha picked the Argentina captain over Ronaldo.

Okocha said, “They are both GOATs but my personal GOAT is Messi because he looks more natural to me.”

Both Messi and Ronaldo have been left out of this year’s nominations for the Ballon d’Or, in what could spell the end of an era.

The Independent National Electoral Commission (INEC) has announced that it no longer recognizes Julius Abure as the National Chairman of the Labour Party (LP), labeling his continued claim to the position as “illegal and unconstitutional.”

This position was made clear in a counter-affidavit submitted by Ayuba Mohammed, an Executive Officer in INEC’s Litigation and Prosecution Department, in response to a legal suit filed by the Labour Party (Suit NO. FHC/ABJ/CS/1271/2024).

The party had challenged its exclusion from INEC’s training for uploading party agents ahead of the Edo and Ondo governorship elections.

The conflict stems from the expiration of Abure’s tenure on June 9, 2024, as confirmed by the Labour Party’s Board of Trustees Secretary, Salisu Mohammad.

INEC contended that it did not monitor or acknowledge the Labour Party’s National Convention held in Anambra on March 27, 2024, where Abure claimed to have been re-elected as chairman.

According to INEC, Abure’s leadership and the convention itself violated the Nigerian Constitution and the Electoral Act. The commission asserted that it only engages with political parties that have lawful leadership in place.

INEC’s legal team, led by Tanko Inuwa, SAN, further argued that the Labour Party had failed to meet legal requirements for holding its national convention, rendering its leadership invalid.

INEC urged the court to dismiss the Labour Party’s lawsuit, stating that the party was not entitled to the reliefs it sought.

The Senior Special Adviser on Information and Strategy to the President, Bayo Onanuga, said the accusation that President Tinubu refused to sign the Peace Accord was false.

The Catholic Bishop of Sokoto Dioceses and the Co-Chairman of the National Peace Committee, Bishop Matthew Kukah, while speaking at the Edo Election Security Townhall on Sunday, in Benin, stated that political parties and candidates cannot be forced to sign the Peace Accord.

“The National Peace Committee, what we do is not in the Electoral Act, it’s not law; it’s moral. You can’t compel people to fall in love or love their neighbour.

“If you go back to the 2019 election, Alhaji Atiku Abubakar, the presidential candidate for the PDP, was not there to sign the Peace Accord. And of course, the opposition went to town, which is what it ought to be, and the next day, he (Atiku) turned up to sign.

“What is also very interesting is that the current president, when he was a presidential candidate, did not sign; it wasn’t our fault that the political opposition didn’t take advantage of it.

“It’s a pity but we are not going to take anybody to court for not signing the Peace Accord. The only thing it does to you as a candidate is that it sends a wrong signal which can be very easily exploited by the opposition,” Naija News reported.

However, Onanuga, in a statement, on Tuesday, explained that the President was represented by the Vice President, Kashim Shettima.

“Contrary to the claims by Bishop Kukah, President Tinubu signed the two peace accords preceding his election in 2023. The first accord, committing the candidates to a free and credible election in the country, was signed on September 29, 2022. Vice President Kashim Shettima represented Tinubu.

“The second agreement, signed on February 23, 2023, was for the candidates to accept the election outcome. Tinubu signed,” Onanuga wrote on his X handle.

On September 15, the Nigerian National Petroleum Company (NNPC) Limited Company commenced the lifting of petrol from the Dangote Petroleum Refinery after prolonged negotiations on pricing mechanisms.

At the close of loading on the aforementioned date, the NNPC disclosed that it bought petrol from the refinery at N898 per litre — above the N855 the NNPC had sold the product across its retail outlets since September 3.

As expected, the development triggered a backlash as critics wondered how the price of the commodity secured locally could be higher than the imported product.

The Dangote refinery countered NNPC’s claim, describing it as “both misleading and mischievous”. The refinery did not state the petrol cost price.

In a counter-claim, the NNPC released details of the pump price of petrol based on prices set by the refinery. The price format quoted refiner’s price per metric tonne (MT) $736 and $0.55 per litre.

The national oil company said the refinery arrived at the price using the Platts 10ppm benchmark of September 13 ($0.52) and a premium of $0.03. 

Platts is a price benchmark service for the oil industry. Typically, Platts pricing plus a premium or minus a discount is the preferred pricing mechanism.

At an official exchange rate of N1,637.59 per dollar, the NNPC said the cost of a litre of petrol at the refinery was N898.78.

With the addition of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) fee (N4.495), midstream and gas infrastructure fund (N4.495), distribution cost and logistics cost for Lagos (N15.00), the NNPC said the estimated pump price would be N950 in Lagos and N999 in Abuja.

THE SUBSIDY EFFECT

The idea of a local refinery had excited Nigerians, primarily due to the expectation that petrol prices would crash significantly. But recent developments seemed to have left citizens disappointed as the price disclosed by the NNPC was higher than the existing pump price.

The difference between the present pricing mechanism and the template released by NNPC is subsidy.

On August 20, the NNPC said it was selling petrol at half the landing cost. At the time, the official pump price was N600/litre and the landing cost was N1,200/litre. This will suggest that the NNPC was paying more than N500 per litre in subsidies or under-recovery.

When the NNPCL raised prices to N855 per litre, the landing cost was said to be over N1,100 per litre, showing that the NNPC was still subsidising petrol by as much as N245 per litre.

If the same amount of subsidy is applied to the Dangote refinery price of N898 per litre, then the market price should be less than N700 per litre. Hence, petrol, as supplied by the Dangote refinery is lower compared to the imported product.

IS DANGOTE PETROL CHEAPER?

Speaking on the issue, Oyeyemi Oke, a partner at AO2LAW, said the absence of a “subsidy” line item in the NNPC’s breakdown makes a big difference as to whether the Dangote refinery product is less expensive.

“The pricing as at today, even if the government wants to accept it or not, appears subsidised because NNPC has come out itself to say they are selling the product at half the landing cost,” Oke said.

“How we should look at it is that if they are selling it at half the price or government is funding the shortfall and the amount based on the pricing that was received still puts it at N950, without any type of shortfall funding, what it means maybe is that it is cheaper at the Dangote refinery as opposed to importation, which the government claims to be selling at half the price.”

In a interview on Channels Television earlier today, John Kekeocha, the national welfare officer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), said the prices shared by the NNPC could be discounted if petrol subsidy continues.

DOES DOMESTIC REFINING MEAN CHEAPER PRICES?

Jide Pratt, an oil and gas expert, said domestic production does not translate to cheaper petroleum products due to several factors.

“It is a fallacy to believe that once a refinery is up and running, it means prices will be cheaper, because the feed for every refinery is still going to be crude oil, which is a commodity that is sold in greenback,” he said.

“What makes petroleum products cheaper is that freight is affordable and the refinery is efficient.”

The only advantage to local refinery, from a price point, is the removal of import cost, which was present in previous NNPC pricing templates as shared by PPPRA.

WHY DID DANGOTE REFINERY SELL IN DOLLARS TO NNPC?

The NNPC had said it paid dollars for petrol from the Dangote refinery — a development earlier confirmed by the refining company.

Explaining the rationale behind the transaction, the Dangote refinery said it sold the products to NNPC in dollars because “our current stock of crude was procured in dollars”.

It was reported in July that the refinery planned to import feedstock from Brazil. A similar plan for imports from the US also made the news in May.

WOULD NAIRA-BASED CRUDE SALE MAKE A DIFFERENCE?

The government had said from October 1, the refinery would supply petrol and diesel to the domestic market in naira.

Oke said although the transaction would be made in naira to prevent foreign exchange (FX) pressures, “it doesn’t mean that it would not be benchmarked against the dollar”.

“Crude is an international commodity priced in dollars. When government and Dangote say they entered into an agreement and the prices will be on the basis of naira, what they are saying is that the payment in itself would be naira but the commodity pricing still has to be benchmarked against the dollar,” he said.

In addition, Pratt said some refining processes are benchmarked against the dollar as the refinery secured loans in dollars.

The difference, however, will be that the refinery saves on the cost of transporting crude from Europe, the United States, or Brazil, as was the case in the recent past. That savings is not based on local currency sales, but on the location of the crude, which will now be from Nigeria.

Bala Mohammed, governor of Bauchi, says his state has enough water to quench the fire that Nyesom Wike, minister of the federal capital territory (FCT), threatened to put in the states of Peoples Democratic Party (PDP) governors supporting Siminalayi Fubara.

Fubara, governor of Rivers, and Wike have been at loggerheads for months now.

Speaking at a PDP congress in Rivers recently, the FCT minister warned governors in the party against interfering in the affairs of the opposition party in Rivers state.

Wike then said he would “put fire” in the states of the governors siding with Fubara.

While hosting some members of PDP’s national working committee (NWC) meeting in Bauchi on Tuesday, Mohammed said nobody could set Bauchi on fire.

“We are together; nobody can put fire in Bauchi,” the governor said.

“We have volumes of water that will quench the fire – even my friend (Wike) that said so, it is because he is annoyed. But it is not personal.

“My friend is my friend, and my job is my job, leadership is leadership.

“This unsolicited visit by the NWC shows that in Nigeria, we have hope,and we are connected by the value and the stability of PDP for peace and stability in our party and in our country.

“Yes, none of the parties is isolated in terms of crisis here and there. Crises are there, that is why leadership is also there. That is why we have to take the bull by the horn to discuss and look at the constitution of our party PDP.

“All the parties must do things by the rule of law. We must respect people, we must put our interest aside, we must respect our diversity, we must meet and close ranks especially when the issue has to do with our party, the PDP.

“Our party has pedigree and most of the development in this country was done by the PDP.

“When PDP left, nothing was done.”

Kamaldeen Adeyemi, national legal adviser of the party, said they visited the Bauchi governor to “identify with him”.

The Centre for the Promotion of Private Enterprise (CPPE) says some powerful forces are bent on preserving fuel importation in Nigeria.

Muda Yusuf, chief executive officer (CEO) of CPPE, spoke on ‘Morning Brief’, an interview programme on Channels Television, on Tuesday.

Yusuf said some individuals who are heavily profiting from the importation of petroleum products are opposed to the transition to local production.

“There are powerful forces bent on preserving the status quo and by the status quo, I mean the continued importation of petroleum products,” Yusuf said.

“Apparently, a number of people are benefiting from that and such people are not really excited about this domestic production, which is the way to go.”

The CPPE CEO emphasised the need for political commitment to drive the transition from import dependency to local production, particularly focusing on petroleum products.

‘NNPC, DANGOTE REFINERY PRICING DRAMATISATION BAD FOR ECONOMY’

Yusuf also frowned on the public exchange between the Dangote refinery and the Nigerian National Petroleum Company (NNPCL) Limited.

He urged both entities to resolve their differences internally, warning that public disagreements could harm investor confidence and the economy.

“I’m really worried about the dramatisation of the price, the cost that NNPC is buying from Dangote,” he said.

“When did NNPC start to tell us how much they bought petroleum products? They have been importing for ages.

“How many times have they told us, this is where we bought it from, this is how much we bought it. Why is it that it is when we are now buying from domestic sources, you are now giving us all sorts of statistics.

“So you are now giving the impression as if this current wave of pricing pieces is because you are buying from Dangote. That is the impression that has been created.”

Yusuf, however, said the real issue is the burden of petrol subsidy, which is overstretching the NNPC and the government.

“If you want to walk away from the subsidy, you make that announcement. You cannot tell us that what we are buying from Dangote is costlier than what we are importing in terms of landing costs. It is not possible,” he added.

On Sunday, the NNPC started lifting petrol from the Dangote refinery after a protracted period of price negotiations.

The national oil company said the refiner sold the product at N898 per litre.

However, Dangote refinery countered the claim, describing it as “misleading and mischievous”.

Following the dispute, NNPC, on Monday, released the estimated pump price of petrol based on prices set by the Dangote refinery.

President Bola Tinubu has assented to the Bill establishing the National Center for the Control of small arms and light weapons (NCCSALW) to curb proliferation of small arms and light weapons in the country.

National Security Adviser, Mallam Nuhu Ribadu disclosed this on Tuesday at the workshop on gender mainstreaming in preventing the proliferation of small arms and light weapons in Nigeria and West Africa.

The NSA who was represented by the Director External Affairs, Office of the NSA, Am. Ibrahim Babani said the workshop aims to address an issue of immense importance to Nigeria’s national security.

The NSA said that the President’s assent to the bill was a major milestone in the government’s commitment to curbing the proliferation of illegal arms.

According to him, this legislative backing strengthens the centre’s mandate and paves the way for more coordinated and decisive action.

Ribadu also emphasised the need for gender mainstreaming in preventing the proliferation of small arms and light weapons in the country.

He commended the National Coordinator and the entire team at the National Centre for the Control of Small Arms and Light Weapons for their dedication in organising the very important workshop, adding that their tireless efforts towards addressing the proliferation of small arms and light weapons in Nigeria were “invaluable”

He stressed that the workshop was anchored on key international frameworks, including United Nations Security Council Resolution 1325.

According to him, the resolution emphasised the critical need to protect women from the impacts of conflict while also ensuring their full participation in peacebuilding and security initiatives.

“Moreover, the ECOWAS Convention on Small Arms and Light Weapons underscores the collective responsibility of our region in cutting the spread of these dangerous weapons, which disproportionately affect women and children in conflict zones.

“The importance of gender mainstreaming in preventing the proliferation of SALW cannot be overstated as it strengthens our strategies, and ensures that our approach to security is inclusive and sustainable,” he said.

Ribadu commended the centre for their efforts towards addressing the proliferation of small arms and light weapons in Nigeria.

The National Coordinator of NCCSALW, DIG Johnson Kokumo (Rtd), said the centre has in recent times, made some significant achievements in the fight against illegal proliferation of small arms and light weapons.

Kokumo said the centre had on July 1, retrieved a substantial cache of illegal arms through the Nigeria Customs Service and subsequent arrest of 10 suspects involved in the illicit importation.

He said the suspects were currently being prosecuted by the NCCSALW for illegal importation into Nigeria, prohibited 544 Firearms and 112,500 rounds of cartridges contrary to Section 3 (6) of Miscellaneous Offences Act Cap M17 Laws of the Federation of Nigeria 2004 among other offences.

This, according to him, underscores the centre’s commitment to not only intercepting arms but also ensuring that those responsible for these acts face the full weight of the law.

“In addition to the above, the National Centre has retrieved a total of quantity 3,383 decommissioned, unserviceable, obsolete and illicit small arms and light weapons and 26,749 various calibres of ammunition from the arms bearing agencies of government.

“Later in this quarter, NCCSALW would be conducting an Arms Destruction Exercise which is a critical step in ensuring that recovered arms are permanently removed from circulation,” he said.

Kokumo said the control of small arms and light weapons proliferation was not only a national concern but also a matter of international importance.

He said that the illegal flow of small arms and light weapons had devastating consequences, fuelling violence, instability and insecurity in various parts of the world.

He added that gender mainstreaming in SALW control was not only a moral imperative but also a strategic move, considering the grave impact of armed conflict on women and children.

This, he said, highlighted the need for a gender-sensitive approach to disarmament and security policies.

The Central Bank of Nigeria (CBN) has announced it will maintain the Ways and Means Advances to the federal government at a 5% limit for the fiscal years 2024-2025, despite a recent bill from the National Assembly increasing the limit to 10%.

This decision was outlined in the CBN’s Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the 2024-2025 fiscal period, released on Tuesday.

These guidelines emphasize the importance of macroeconomic stability and align with the Medium-Term Fiscal Framework (MTFF), aiming to manage expectations, respond to economic shocks, and sustain the ongoing economic recovery.

The document stated, “Ways and Means Advances shall continue to be available to the Federal Government to finance deficits in its budgetary operations to a maximum of 5.0 per cent of the previous year’s actual collected revenue. Such advances shall be liquidated as soon as possible and shall in any event be repayable at the end of the year in which it was granted.”

Additionally, the advances will now be calculated after accounting for the sub-accounts of various Ministries, Departments, and Agencies (MDAs), which are connected to the Consolidated Revenue Fund to determine the Federal Government’s overall cash position.

Ways and Means Advances are short-term loans from the CBN designed to help the government address temporary budget shortfalls.

Section 38 of the CBN Act of 2007 limits these advances to a percentage of the previous year’s revenue and mandates repayment within the fiscal year.

In recent years, the CBN’s handling of Ways and Means Advances has sparked controversy, particularly in 2023 when former CBN Governor Godwin Emefiele was accused of printing ₦22.7 trillion for the federal government without National Assembly approval.

Critics argue that excessive borrowing through this facility has fueled inflation and increased money supply in the economy.

In February 2024, current CBN Governor Olayemi Cardoso informed the Senate Committee that the CBN would halt further advances to the federal government until outstanding loans were repaid.

This move is part of broader efforts by the bank to address the economic challenges facing the country.

Says purchasing product with dollar illegal

Human Rights Activist and Senior Advocate of Nigeria, Femi Falana has stated that it is ‘illegal” for the National Nigerian Petroleum Corporation (NNPCL) to determine prices of Premium Motor Spirit also known as petrol after deregulation.

Falana in a statement on Tuesday said the action of the NNPC violates Section 205 of the Petroleum Industry Act (PIA).

He said, “On September 5, 2024, the Nigerian National Petroleum Corporation Limited (NNPCL) stated that foreign exchange (forex) illiquidity had been a significant factor influencing the fluctuation in prices of Premium Motor Spirit (PMS) governed by unrestrained market forces, as provided for in the Petroleum Industry Act (PIA).

“The NNPCL was explaining the pump price of PMS imported into the country at the material time. Specifically, the Executive Vice President of Downstream NNPC Ltd Mr. Adedapo Segun, explained that Section 205 of the PIA, which established NNPC Ltd, stipulated that petroleum prices were determined by free market forces. According to him, “The market has been deregulated, meaning that petrol prices are now determined by market forces rather than by the government or NNPC Ltd. Additionally, the exchange rate plays a significant role in influencing these prices.”

“But contrary to the well-publicised statement, the NNPCL has fixed the price of PMS produced by the Dangote Refinery and Petrochemical Company Limited. The action of the NNPCL is a violent contravention of Section 205 of the PIA, which stipulates that the prices of petroleum products shall be determined by market forces.

“Furthermore, since the petrol sold by Dangote is not imported into the country but produced at the Lekki Economic Free Trade Zone, the NNPCL cannot justify the sale of petrol at N950 per liter without freight cost, lightering cost, jetty depot fees, storage fees, foreign exchange costs, NPA charges: NIMASA charges, Customs duties, etc.

“In fact, by selling the petrol produced by Dangote Refinery at a higher price, the NNPCL has confirmed its resolve to continue to sabotage the national economy through the reckless importation of cheaper petrol from foreign countries at a cost that the nation cannot afford.

“The NNPCL has justified the hike by saying that petrol is sold in dollars by the Dangote Refinery. Why should the NNPCL buy petrol in dollars since the Federal Executive Council (FEC) has directed that crude oil be sold to Dangote Refinery in Naira?

“Are the management staff of NNPCL and Dangote Refinery not aware that it is a criminal offence under Section 20 of the Central Bank Act to refuse to accept the naira as a means of payment for any transaction in the country?

“Furthermore, the exclusive purchase of petrol from Dangote Refinery by the NNPCL is completely at variance with the letter and spirit of section 205 of the PIA. Therefore, other marketers should be at liberty to purchase petrol directly from Dangote Refinery and distribute to outlets in all the states of the Federation.

“Henceforth, the Federal Competition and Consumer Protection Commission should stop the NNPCL from exercising monopolistic control of the petrol produced by Dangote Refinery.”

Falana’s outburst came after the commencement of PMS lifting by the NNPCL from the Dangote Refinery on Sunday.

However, as soon as lifting commenced, NNPCL announced that the product would sell for ₦950 per liter in Lagos State and its environs, and above ₦1,000 per liter in states such as Borno.

Reacting to the development, the Independent Petroleum Marketers Association of Nigeria (IPMAN) on Monday, criticised NNPCL, saying it was not right to sell petrol lifted from the Dangote Refinery higher than imported ones.

IPMAN National Welfare Officer, John Kekeocha, stated this on Channels Television, saying, “If NNPC can sell Dangote products higher than the imported products, then, it doesn’t make sense. What is the celebration we are having all these while then?” he queried.