Latest News
FEATURES
The Imo state police have arrested a 17-year-old student of Imo State University (IMSU) for faking her abduction.
The student, arrested in Owerri, has been identified as Jesse Chidiebere.
Henry Okoye, the Imo police spokesperson, said the command received a distress call from concerned citizens reporting Jesse’s disappearance.
He said a text sent from her instant messaging account claimed she had been abducted and killed.
The text had asked her family to go to Orji police station for confirmation.
Okoye said police operatives launched a search and discovered that the missing girl was alive.
He said the student was found to have fabricated the story as a social media prank.
“On October 26, 2024, at approximately 10:00 pm, police received a distress call from concerned citizens reporting Chidiebere missing,” Okoye said.
“A message sent from her WhatsApp account claimed she had been abducted and killed, urging her family to go to the Orji Police Station for confirmation.
“In response, police operatives launched a search and discovered the following morning, October 27, 2024, that Chidiebere was alive and had fabricated the story as a prank on social media.
“An investigation is ongoing to ascertain her motives for such mischief and would certainly face prosecution.
“The commissioner of police, Imo State Command, CP Aboki Danjuma has expressed concern over such irresponsible behaviour, which wastes valuable resources and causes public panic.
“He urges parents to caution their children against engaging in dangerous pranks and spreading misinformation.
“The Command remains committed to combating misinformation and ensuring a safe environment for all and sundry in the state.”
John Onaiyekan, a cardinal and former Catholic archbishop of Abuja, says Nigeria’s development will be affected if the northern region is neglected.
The cleric spoke in Abuja on Tuesday when the League of Northern Democrats (LND) paid him a courtesy visit.
The LND has been in consultations with eminent Nigerian leaders, including former President Olusegun Obasanjo and former defence minister T.Y. Danjuma.
Onaiyekan urged members of the group to engage the political leadership in the north on the need to deliver good governance.
“I think we must face reality that the way the northern Nigeria is today is not what we can be proud of,” he said.
“All the various indices of good governance and standard of living; we have a very poor record. If Nigeria is poor, the epicentre of the poor is the north.
“And when there is a league of northern democrats who are interested in addressing the issues and finding out why is it that things are not moving as they should, I think things will move because a league of elite northern democrats should be able to engage those who call themselves political leaders, especially as some of you have had good experience in government.
“So, you can tell them, listen, and look around you. Are you proud of what you see? Out-of-school children are all over the place, and it is not an excuse to say we are poor because if we continue to cry about being poor, the issue will remain.
“We are in a federal government, and federal resources are being distributed. So, what has happened? Let’s face it, if the north does not move well, Nigeria cannot move well. It’s the same discourse: if Nigeria does move well, Africa cannot move well.”
Onaiyekan said it is important for the entire nation to be interested in the northern region’s development, stressing that there is no room for a section of the country to “lag”.
Ibrahim Shekarau, LND leader and former governor of Kano, said the group is focused on addressing challenges of poverty, illiteracy, insecurity, mutual distrust, and declining political influence in the northern region.
Shekarau noted that the group is not tailored to support any individual or political party.
He added that the concern of LND members is to ensure that political parties are mobilised and made to serve the electorate.
The Nigerian Bar Association (NBA), Ikeja branch, has called on President Bola Tinubu to implement policies that will nurture economic prosperity in the country.
Speaking at a press briefing in Ikeja on Tuesday, Oluwaseyi Olawumi, chairman of the branch, expressed concerns over economic challenges, including the latest increase in the pump price of petrol and the 250 percent hike in electricity tariffs.
Olawumi noted some of the government’s policies have resulted in increased inflation and spikes in transportation fares, healthcare bills, education, and daily expenditures.
“Inflation is now at its highest, reducing purchasing power and disproportionately impacting low- and middle-income families who are already vulnerable,” the NBA chairman said.
“The combined effects of this fuel price hike and 250 percent power tariff hike have, apart from wiping out the middle class in the economic pyramid, brought unprecedented pain, hardship, and suffering to the generality of the people of this country.
“This trend has equally placed a significant strain on businesses across sectors, such that where businesses are not crippled, acute adaptive strategies are deployed to sustain operations or survival in the face of economic headwinds.
“We urge the government and policymakers to consider a systematic examination of empirical data, theoretical frameworks, and comparative analyses.
“We urge the government to delineate the complicated impacts of fuel price hikes and inflation on individuals, businesses, and socio-economic structures.
“We recommend that the efficacy of existing policies in addressing these adversities be scrutinised and strategies that nurture economic prosperity be proffered.”
The Redeemed Christian Church of God (RCCG) has called on the public with relevant evidence against its pastors accused of homosexuality to present them for investigation.
In a memo dated October 28, 2024, the church announced the indefinite suspension of two youth ministers pending the outcome of the investigations against them.
The memo, signed by Sunday Akande, RCCG’s national overseer, ordered a thorough investigation into the sexual misconduct allegations.
Akande emphasized that the church’s doctrine does not tolerate or allow any act of homosexuality, citing biblical references.
In a statement, according to ChurchTimes, the RCCG urged people with relevant evidence against the pastors to come forward.
The church also provided an email address (This email address is being protected from spambots. You need JavaScript enabled to view it.) and phone number (09039000700) for submitting information. It emphasized that only substantiated evidence will be reviewed.
Ayorinde AdeBello, one of the accused pastors, earlier denied the allegation of homosexuality.
He said he has never engaged in sodomy with male teenagers.
The pastor said his prolonged silence was misconstrued as an “admission of guilt”, prompting his response.
AdeBello also clarified that a viral WhatsApp screenshot being circulated was misquoted and taken out of context.
He claimed the conversation was actually about male reproductive health and self-esteem within a teenagers’ WhatsApp group.
Our refinery has 500m litres of PMS to end scarcity, but retailers aren’t buying — Aliko Dangote
AFOLABI
Aliko Dangote, founder of the Dangote Group, says the Dangote Petroleum Refinery currently has over 500 million litres of premium motor spirit (PMS), also known as petrol, available for sale.
Dangote spoke after a meeting on Tuesday with President Bola Tinubu and his committee on crude oil and refined product sales in local currency.
The billionaire said retailers are not collecting the available products to ease petrol queues, which also results in financial losses for the company.
“With enough supply of crude, we can actually produce much more than 30 million litres every day,” Dangote said.
“At full capacity, we can even supply whatever is being consumed.
“But what I estimated as consumption, which I believe may be about 30, 32 million, we can start producing by next week, so it is not really an issue, because, as we speak today, we have 500 million litres in our tanks.
“500 million litres in our tanks even if there’s no protection from any or no imports, this will take the country more than 12 days, with no imports, with no production, nothing.
“We are more than ready.”
Dangote assured Tinubu that the company would supply at least 30 million litres per day and gradually increase production.
‘DANGOTE REFINERY LOSING MONEY DUE TO UNSOLD PMS’
The businessman explained that keeping unsold PMS in storage is costly, urging retailers to collect the products to reduce petrol queues and the company’s losses.
“On the streets, one thing that you have to understand is that we are producers. I have a refinery. I’m not in the business of retail. If I’m in the business of retail, then you hold me responsible,” Dangote said.
“But what I’m saying is that the retailers should please come forward and pick. If they don’t come forward and pick, what do you want me to do? There is nothing that I can do.
“I am expecting the NNPC or the marketers to stop importing, they should come and pick because we have what they need.
“I don’t know whether you understand what it takes to keep half a billion litres inside our tank.
“It’s costing me money every day. If I will be able to collect the naira, I can actually charge somebody 32 percent in interest.
“So right now, that’s what I’m losing. And we are talking about 500 million, and we don’t print money.
“The issue is that if they come and collect, then you will not see any queues in the filling stations.
“We have what it takes for them to come and collect. We are not retailers. We also don’t have trucks to send. We have a factory, we have where they can load.”
Dangote urged retailers to collect the PMS available, just as they do with imported products.
He questioned why, if retailers are distributing 55 million litres daily, they would not collect and distribute the company’s stock.
Wale Edun, the minister of finance and coordinating minister of the economy announced the refinery would commence the distribution of PMS, on September 15.
On October 10, the Independent Petroleum Marketers Association of Nigeria (IPMAN) asked the Nigerian National Petroleum Company (NNPC) Limited to sell petrol to its members at the Dangote refinery rate or refund the oil marketers’ money.
IPMAN said its members’ money has been with NNPC for over three months.
The association said the national oil company collected PMS from the Dangote refinery below N900 per litre, but NNPC wants oil marketers to buy the same product at the rate of N1,010 in Lagos, N1,045 in Calabar, N1,050 in Port Harcourt, and N1,040 in Warri.
The next day, the federal government said oil marketers can now buy petroleum products directly from the Dangote refinery and other local producers — one week after directing the Dangote refinery to sell petrol to only the NNPC.
Says 174 cases in NAF alone, unacceptable
…Blocks arrest of petitioner by NAF officers
The Senate, on Tuesday, berated the Military over the delay in payment of insurance benefits to dead and retired personnel.
The Senate Committee on Code of Conduct, Ethics and Public Petitions, while considering a petition before it on the matter, specifically declared that 174 families facing the brunt of such delays in the Nigerian Airforce (NAF) alone, was unacceptable.
This is even as it prevented NAF officers led by Wing Commander Mohammed Saleh, from arresting Master Warrant Rukayat Ajoke Ishola, who petitioned the Senate on non-payment of her husband’s insurance benefits and alleged maltreatment subjected to, by the Airforce authorities since the demise of her husband, Warrant Officer Daramola Taiwo in April 2016.
Senate expressed serious disappointment with the delay in payment of Insurance benefits by the military to its dead or retired personnel, following consideration of petition filed against NAF by Master Warrant Officer Rukayat Ishola.
Rukayat Ishola in the petition, alleged that payment of Insurance benefits of her late husband was deliberately delayed by NAF and that her Child was denied from enjoying payment of School fees by NAF like other children of late men and officers of the military.
She added that maltreatment allegedly meted to her by some officers after the demise of her husband in April 2016, made her abandon her duty post as a a way of saving her life.
She said: I was forced and traumatized to go on away without leave ( AWOL), because my late husband’s insurance benefits, were deliberately not paid, my child was denied school fees payment by NAF in line with military tradition and unwarranted persecutions from some officers and life-threatening posting”.
The attempt made by her to tender recorded telephone conversations she had with the alleged officers persecuting her, was rebuffed by the Committee as it called on an NAF representative to defend the allegations.
Defending the allegations on behalf of NAF, its Director of Legal Services, Wing Commander Mohammed Saleh said the insurance benefits of late Warrant Officer Daramola Taiwo were not deliberately delayed as there about 174 families in the Airforce experiencing such delays in payment.
“I want to Inform this committee that the petitioner lied in all the allegations laid as delay in payment of insurance benefits does not affect her late husband alone but about 174 different families.
“Her Child is not entitled to enjoy school fees payment by NAF since the husband of the petitioner did not die in active service, just as allegation made on alleged maltreatment or persecution, is unfounded”, he said.
But when asked by the Committee Chaired by Senator Neda Imasuen to define what he meant by active service, he said, those who died at the battlefront or field are categorised as dying in active service while those who died naturally are not considered as such prior to amendment of the regulation in 2021.
Irked by his submission, the Chairman and members of the Committee descended on the Air Officer by declaring that it was unacceptable for insurance benefits of dead personnel not paid for close to nine years.
Consequently, the Committee, told the Air officer that a strong letter would be forwarded to the Chief of Air Staff, Air Marshall Hassan Abubakar, “to without further delay, facilitate payment of insurance benefits of husband of the petitioner.
“Incorporate the child of the deceased as a beneficiary of School fees payment by NAF and open window for the honourable exit of the petitioner from NAF with attendant retirement benefits”.
[newtelegraphng]
Famous Nigerian musician, Tiwatope Omolara Savage, better known as Tiwa Savage, has stated that she is more talented musically than the ‘Big 3’ – Davido, Wizkid and Burna Boy.
Naija News reports that Wizkid, Davido, and Burna Boy are commonly acknowledged as the leading trio of Nigerian artists, collectively known as the “Big 3.”
However, there is ongoing discussion about the possibility of including a fourth artist in this esteemed group, with names such as Tiwa Savage, Rema, Asake, and others being considered.
Commenting on the discourse in the Nigerian music scene, Tiwa Savage, during a recent interview with The Beat 99.9 FM in Lagos, expressed her views on her potential inclusion in this elite category.
She confidently asserted that her talent surpasses that of Wizkid, Davido, and Burna Boy, who are predominantly recognized within this group.
The host asked, “Do you feel like you’ve to be part of the ‘Big 3’ or even ‘Big 4’ conversation? How do you feel about that?”
Responding, Tiwa Savage said: “Don’t get me started. If we are to go talent for talent, mic for mic, I am the big 1. If you take off the numbers [streams], and whatever you want to judge the big whatever with, you can’t see me on the mic. But again, it [the ranking] is not based on that [musical talent].”
[NaijaNews]
Chairman of Dangote Group, Aliko Dangote, has disclosed that his refinery has more than enough fuel in reserve to meet Nigeria’s demand and that marketers should collect the available supply to alleviate the current scarcity.
He disclosed this to State House correspondents after President Bola Tinubu met with crude oil and refined product sales members in the local currency implementation committee.
The committee was led by the minister of finance and coordinating minister of the economy, Mr Wale Edun.
“We are more than ready to supply the market with 30 million litres daily,” Dangote assured, adding that his refinery holds 500 million litres of fuel in reserve.
“This is enough to sustain the country for over 12 days without new imports or production,” he added.
Dangote emphasised that his role is strictly that of a producer and bulk supplier, not a retail distributor, and urged marketers to take responsibility for distribution to filling stations.
“We are not in the retail business. I have a refinery, not filling stations,” he clarified. “If marketers come forward to collect, there will be no queues.”
Dangote also expressed his commitment to the government’s fuel supply goals, stating, “I’m putting my name on the line by assuring Mr President that we will supply a minimum of 30 million litres per day, ramping up as needed to stabilise the market.”
He also highlighted the financial impact of holding such a massive fuel reserve, explaining that it incurs daily costs, particularly with high interest rates.
“Every day, it costs me to maintain 500 million litres in our tanks. If I could recoup this investment, I could be charging 32% interest,” he noted, underscoring the urgency for marketers to act.
Dangote urged fuel marketers to prioritise local collection over imports.
“If marketers have been managing 55 million litres daily through imports, I see no reason they shouldn’t come and collect our supply and distribute it locally.”
He reaffirmed his refinery’s readiness to keep a steady supply. “We have what they need. As they collect, I will continue pumping. Our tanks are full, and we are ready to keep Nigeria’s fuel supply flowing smoothly if the marketers do their part.”
He also underscored the significance of Afreximbank’s role as a settlement bank between Dangote and the NNPCL, the aim of which is to streamline transactions within the crude oil market.
Pump Price Adjustment Reaction To Market Dynamics – Marketers
Petroleum products marketers have described the fresh pump adjustment of Premium Motor Spirit (PMS) at some retail outlets of the Nigerian National Petroleum Company Limited (NNPCL) as a reaction to market dynamics.
The new price was observed on Tuesday at NNPC filling stations in some parts of the country.
About three weeks ago, NNPC also hiked fuel prices to about N1,030 per litre in Abuja and N998 in Lagos.
The adjustment may see motorists paying about N1060 in Abuja and N1025 in Lagos.
The president of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr Billy Gills-Harry, told LEADERSHIP that Nigerians should always expect to see prices going up and down.
He said this is expected in a deregulated market and should not be seen as NNPCL arbitrarily raising the pump price.
According to him, prices can change depending on import parity, which is essentially expected in a free market operation.
Our Correspondent reports that earlier this month, the federal government explained the recent increase in petrol prices by the NNPCL, attributing it to global energy market conditions.
The minister of information and national orientation, Mohammed Idris, clarified that the NNPCL’s decision was influenced by market forces, not government directives, in line with the Petroleum Industry Act (PIA).
Meanwhile, the Finance Minister Wale Edun also shared insights from the meeting with President Tinubu on a new initiative enabling local refiners to purchase crude oil in Naira, a project fully backed by the Federal Executive Council.
Edun credited the Dangote Group’s substantial investment in its 650,000-barrel-per-day refinery as a crucial project enabler and emphasised collaboration with regulatory bodies like the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and Nigeria National Petroleum Company Ltd (NNPCL).
“What we have achieved is the establishment of market pricing for petroleum products,” he explained.
“This, coupled with market pricing for foreign exchange, sets our economy on a path toward industrialisation.”
He further highlighted the initiative’s broad economic impact, noting it would provide essential raw materials for various industries, from agriculture to chemicals and textiles.
“This is part of Mr President’s strategy to create favourable conditions for private sector investment, job creation, and economic growth,” Edun said.
Edun also stated that the new pricing structure is expected to strengthen NNPC’s financial position, enabling it to better support federal, state, and local governments.
“This will allow them to meet their obligations, including salary payments and infrastructure development,” he added.
While acknowledging the remaining challenges, Edun expressed optimism about Nigeria’s industrial development trajectory.
“Although it’s early days and much work remains, we now see a clear path toward modernising our economy,” he remarked, assuring stakeholders of the government’s commitment to overcoming initial hurdles linked to local crude sales in Naira.
“There is determination from the top downwards for this initiative to succeed,” he affirmed.
The meeting was attended by top officials, including the group chief executive officer of NNPCL, Mele Kyari; chairman of the Federal Inland Revenue Service, Zacch Adedeji; governor of the Central Bank of Nigeria, Yemi Cardoso; chief executive of NMDPRA, Farouk Ahmed, and the chief executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe.
It is recalled that President Tinubu had , on July 29, directed NNPCL to commence crude sales to the Dangote Refinery and other local refiners, with Afreximbank appointed as the pilot settlement bank to oversee transactions.
Ghana Eyes Fuel Imports From Dangote Refinery
Ghana could buy petroleum products from Nigeria’s Dangote Petroleum Refinery once the facility is operating at total capacity, cutting more expensive European exports, the head of the country’s oil regulator said on Monday.
According to a Reuters report, the chairman of the National Petroleum Authority, Ghana Mustapha Abdul-Hamid, said this could end monthly fuel imports of $400m from Europe.
He spoke at the OTL Africa Downstream oil conference in Lagos.
The $20bn Lekki-based Dangote refinery began releasing Premium Motor Spirit, popularly called petrol, into the Nigerian market on September 15, 2024.
However, despite this, marketers of the product in Nigeria have since commenced importing PMS in hundreds of millions of litres following the federal government’s total deregulation of the downstream oil sector in Nigeria.
However, at the function in Lagos on Monday, the Ghanaian petroleum authority official stated that his country might start importing fuel from the Nigerian refinery.
“If the refinery reaches 650,000 bpd a day capacity, all that volume cannot be consumed by Nigeria alone; so instead of us importing as we do right now from Rotterdam, it will be much easier for us to import from Nigeria, and I believe that will bring down our prices,” Hamid said.
The Dangote refinery, built by billionaire Aliko Dangote, is expected to operate near total capacity by the end of the year, and analysts believe it could be fully operational in the first quarter of 2025.
Allow Market To Determine Profit, Loss In Oil Sector- Tinubu
…Urges oil stakeholders to end reliance on import
President Bola Tinubu, speaking Tuesday in Abuja, commended the Implementation Committee on selling Naira-based crude oil and refined products and asked the members to resolve any teething problems.
In a review meeting at the State House, the President, in a statement by his spokesman, Bayo Onanuga, said that using the Naira was conceived to remove the exchange rate hurdle.
“Whatever solution we proffer in crude oil and refined products sales in Naira should not take us back to our experience in the last 40 years.
“There can be cost and revenue adjustment in the oil sector, but the issue is that the government will not have to go back to the old way of doing things,’’ the president stated.
President Tinubu said the various players in the oil sector, including the Nigerian National Petroleum Corporation Ltd and the Dangote Refinery, should work to improve the economy and the livelihood of Nigerians.
The President urged stakeholders to look inward, consider supplying enough petrol and petroleum products for local consumption, and stop the persistent reliance on importation.
He said this would enable the channelling of foreign exchange into the development of the real sector.
The President advised stakeholders to use Afreximbank as a settlement bank to resolve the Naira pricing for crude and refined products. Afreximbank is already on board as the financial adviser.
“The market must determine what we are doing. Once you allow the market to determine the profit and loss, independent marketers and the government side can meet on the worksheet. I want the issues resolved without future waste of time,’’ he added.
“We can have energy security, and the motivation for Alhaji Aliko Dangote will not be defeated. It will be more predictable on a medium and long-term basis,’’ the President said.
Minister of finance and coordinating minister of the economy, Wale Edun, said the administration’s groundbreaking steps to sell crude in Naira would not be reversed, and the government would not be involved in determining the rate of exchange for the oil sector.
The President and Chief Executive of Dangote Group told the President that the refinery had more than 500 million litres of fuel in reserve after supplying 400 million to the economy.
He said the refinery could collaborate with the other refineries managed by NNPC Ltd to meet an estimated 32 million litres of local petrol needs.
At the meeting, the Federal Inland Revenue Service chairman, Zach Adedeji, who chairs the technical committee, said importing refined products should end once Nigeria can produce enough to meet domestic needs.
“The vision of Mr President is to turn Nigeria into a hub for refined products to export to the world.”Other stakeholders at the meeting included Prof. Benedict Oramah, the president and chairman of the Board of Afrexim Bank, and Sen. Abubakar Atiku Bagudu, the minister of budget and national planning and group managing director of NNPC Limited, Mele Kyari.
The president’s special adviser on energy, Olu Verheijen, and the CEOs of NIMASA and Nigerian Ports Authority also attended, along with Engineer Gbenga Komolafe, head of Upstream Regulator, and Farouk Ahmed, head of Midstream and Downstream Regulator, NMDPRA.
Marketers Say Pump Price Adjustment At NNPCL Stations, Reaction To Market Dynamics
Petroleum products marketers have described the fresh pump adjustment of Premium Motor Spirit (PMS) at some retail outlets of the Nigerian National Petroleum Company Limited (NNPCL) as a reaction to market dynamics.
The new price was observed on Tuesday at NNPC filling stations in some parts of the country.
About three weeks ago, NNPC also hiked fuel prices to about N1,030 per litre in Abuja and N998 in Lagos.
The adjustment may see motorists paying about N1060 in Abuja and N1025 in Lagos.
The president of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr Billy Gills-Harry, told LEADERSHIP that Nigerians should always expect to see prices going up and down.
He said this is expected in a deregulated market and should not be seen as NNPCL arbitrarily raising the pump price.
According to him, prices can change depending on import parity, which is essentially expected in a free market operation.
Our Correspondent reports that earlier this month, the federal government explained the recent increase in petrol prices by the NNPCL, attributing it to global energy market conditions.
The minister of information and national orientation, Mohammed Idris, clarified that the NNPCL’s decision was influenced by market forces, not government directives, in line with the Petroleum Industry Act (PIA).
[Leadership]
Governor of Nasarawa State, Abdullahi Sule, has said that the 19 governors under the Northern Governors Forum (NGF) are against the VAT bill because it will be unfair to the region.
The governor stated this during an interview on Channels TV’s Politics Today.
Arising from a meeting on Sunday, the NGF chaired by Governor Inuwa Yahaya of Gombe State, had rejected the derivation-based model for Value Added Tax (VAT) distribution in the new tax bill currently in the National Assembly for deliberation.
Sule said that the governors were not against President Bola Ahmed Tinubu, saying they brought him into power.
He said. “We can’t bring in President Tinubu and then oppose him. If you look at the composition of the meeting you will see that there are people from the APC and the PDP. Some don’t even have a political party. We sat down and took the decision together.
“Some are traditional rulers. If you look at the law, it will be unfair to the north. By the time you say you are going to take something out of the sharing of the FAC and then say you are going to share something similar to something like that because that is the understanding we have based on the proposal. It’s going to be another 13% derivation.
“So, the states that have almost no VAT at the moment will end up actually with the shorter area of the stick. And you know, the 19 states of the north are generating very little when it comes to VAT at the moment.
“It’s very clear. I worked for some of these multi-national. I know how VAT is paid. When we were importing raw material at Dangote at Apapa port. We paid VAT first and then the finished product had VAT added to it,” he added.
[Dailytrust]
The Spokesperson of Nigerian National Petroleum Company Limited, Olufemi Soneye, said he is not aware of any fresh Premium Motor Spirit pump price increase across its retail outlets.
Soneye told DAILY POST in an exclusive interview on Tuesday.
Soneye comment comes amid speculation that NNPCL had increased fuel pump to from N1,030 per litre to N1060 in Abuja.
However, the state-owned oil firm spokesperson, Soneye, said, “There is no increase in gasoline price that I am aware of.”.
Similarly, the spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, said NNPCL’s ex-depot price has not changed.
“For independent marketers, we have experienced a fresh price hike as I am speaking with you. NNPCL still sells to us at the same price.
“For Port Harcourt, it is N1040 per litre; Abuja and Lagos are around N990 per litre,” he told DAILY POST on Tuesday.
Earlier, the President of Dangote Group, Aliko Dangote, said petroleum marketers are ignoring its refinery’s 500 million litres of fuel.
Recall that on 9 October 2024, NNPCL had increased its petrol price to N1030 per litre.
[DailyPost]
More...
The Minister of State for Police Affairs, Imaan Sulaiman-Ibrahim, has promised to draft the authors of a book, titled: Cybercrime, Digital Forensic Readiness, and Financial Crime Investigation in Nigeria, Dr. Tombari Sibe and Prof. Christian Kaunert, into Federal Government’s Committee on National Policing Policy.
Sibe, a lecturer in the Department of Computer Engineering at the Rivers State University, Diobu (Mile III) in Port Harcourt, is a Cybersecurity/Digital Forensic expert with over two decades of professional experience in Information Technology Consulting, while Kaunert is Professor of International Security in the School of Law and Government at the Dublin City University in Ireland.
Sulaiman-Ibrahim noted that experts like Sibe and Kaunert were needed in the committee she said was being put together.
She said the authors would provide inputs on cybersecurity frameworks for the Nigeria Police Force (NPF).
The minister, who was represented by her Senior Technical Adviser on Policy and Strategy, Mike Imafidor, spoke during the book launch in Port Harcourt, the Rivers State capital.
She said the ministry was focused on driving police reforms through the integration of advanced technologies.
Sulaiman-Ibrahim said: “Another significant element is the development of a national policing policy with the committee currently being formed.
“We will extend an invitation to Dr. Sibe and Professor Kaunert to join the committee, particularly in the section focusing on cybersecurity and technology adoption within the NPF.
“The aim is to establish a framework for technology integration, avoiding isolated systems that are difficult to connect and ensuring smooth inter-operability. The goal is to create a policy that guarantees the sustainability of these technological efforts.”
[TheNation]
The Nigerian National Petroleum Company Limited, NNPCL, yesterday, adjusted the price of Premium Motor Spirit, PMS, also known as petrol, to N1,025 per litre, from N998 per litre, in Lagos and environs.
Similarly, in Abuja, the price of the product rose to N1,060 from N1,030, in what has become the third increase in the price of the product in two months.
The latest increase came as the price of Nigeria’s Bonny Light crude dropped to $72 per barrel, from $75 per barrel, indicating a shortfall of 8.2 per cent against the $77.96 per barrel reference price of the 2024 budget.
In Lagos, filling stations immediately adjusted their prices to reflect the new rate, while motorists were seen rushing to some outlets yet to adjust prices to buy the product
NNPCL had earlier this month, hiked pump prices from N897 per litre to N1,030 per litre following the deregulation of petrol pricing by the Federal Government.
Checks around the central area of Abuja on Tuesday night showed that most major marketers which had opened during the day, shut their gates as they began the process of adjusting their metres.
However, Ardova Plc station, independent marketers, located opposite NNPC Retail mega station continued to sell to motorists at the old price of N1,125 per litre.
Spokesman of the NNPCL, Olufemi Soneye, could not be reached for comments last night but checks by Vanguard indicated that the price adjustment was based on market forces, following the deregulation of the downstream sector.
An industry source, who pleaded to be anonymous, said: “This is the third adjustment to be made in September and October 2024, based on deregulation.
‘’The policy enables price to be adjusted based on the forces of demand and supply. The weakness of the naira, currently standing at N1,664/$ may also be a factor.”
Experts react
Reacting to the development yesterday, the CEO, Centre for the Promotion of Private Enterprises, CPPE, Dr. Muda Yusuf, said; “The decision may be driven by deregulation. They should also think about other considerations, especially now that Nigerians are suffering.
‘’It would be necessary for the government to adopt social approaches to enable it to reduce the sufferings of citizens.
“Indeed, Nigerians are passing through very difficult times and they need measures to be put in place to reduce their pains.”
However, a major oil marketer, who pleaded to be anonymous, said: “Currently, the price of petrol has been deregulated. It can rise now but it should also reduce in the coming weeks since crude oil prices have dropped significantly in the global market.
“The NNPCL and other operators in the downstream value chain have embraced deregulation and it is expected that low crude oil prices would reflect in petrol prices.
“The appeal will then be for the government to reduce their operational cost and possibly grant incentives to the Small and Medium Scale Enterprises, SMEs, which are mostly affected by the upsurge.”
Revolt against petrol pump increases, CSO urges Nigerians
Reacting to the latest hike in the petrol pump price by the Nigerian National Petroleum Company, NNPC, a member of the Joint Action Front, JAF, the Movement for a Socialist Alternative, MSA, called on Nigerians, especially workers, to revolt against the endless increase in the pump price of petrol the federal government.
JAF is the umbrella body for pro-workers civil society organization
MSA in a statement by its General Secretary, Dagga Tolar, said: “In a troubling and relentless trend, the Nigerian National Petroleum Company, NNPC, Limited has again raised the price of petrol, this time crossing to N1,025 mark per litre.
“This increase comes barely two weeks after Nigerians expressed outrage over the staggering 430% hike in petrol prices since President Tinubu assumed office. The recent adjustments not only deepened the financial strain on Nigerian households but also highlighted the government’s disregard for the harsh realities facing the working masses.
“We, in the Movement for a Socialist Alternative, MSA, firmly condemn this incessant increase in petrol prices, which serves as another aggressive attack on the government’s ongoing neoliberal agenda.
‘’This pattern of price hikes has led to unbearable living conditions, pushing majority of Nigerians further into poverty, while corporate interests continue to profit.
“The Nigerian Labour Congress, NLC, and the Trade Union Congress, TUC, must stand resolute and no longer remain silent while workers are forced into deeper economic hardship. It is imperative that they take immediate, unified action to protect the Nigerian people from these exploitative policies.
“We call on Nigerian working masses to come together and oppose this unrestrained attack on their livelihoods. Now, more than ever, a united front is necessary to challenge these policies that consistently favour profit over people.
“The MSA stands in solidarity with every Nigerian worker and citizen who seeks a just, equitable, and accessible economy. Together, we must demand an end to this cycle of price hikes and call for policies that genuinely prioritize the well-being of the people.”
Independent marketers sell higher
Vanguard gathered yesterday that independent marketers are also warming up to mark up prices, as they had always taken a cue from NNPCL.
Findings yesterday revealed that some of them were already selling the product for as high as N1,150 to N1,200 per litre.
Tinubu urges stakeholders in oil industry to stop reliance on importation
Meanwhile, President Bola Tinubu yesterday in Abuja urged stakeholders in the oil and gas industry to look inward and consider supplying enough petrol and petroleum products for local consumption to stop the persistent reliance on importation.
He said this will enable the channelling of foreign exchange into the development of the real sector.
The President also commended the implementation committee on naira-based sales of crude oil and refined products and asked the members to resolve any teething problem that might arise.
In a review meeting at the State House, the President said using the naira was conceived to remove the exchange rate hurdle.
“Whatever solution we proffer in crude oil and refined products sales in naira should not take us back to our experience in the last 40 years.
“There can be cost and revenue adjustment in the oil sector, but the issue is that the government will not have to go back to the old ways of doing things,” the President stated.
He said the players in the oil sector, including the NNPCL and the Dangote Refinery, should work to improve the economy and the livelihood of Nigerians.
The president advised stakeholders to use Afreximbank as a settlement bank to resolve the naira pricing for crude and refined products.
Afreximbank is already on board as the financial adviser.
“The market must determine what we are doing. Once you allow the market to determine the profit and loss, independent marketers and the government side can meet on the worksheet. I want the issues resolved without future waste of time.
“We can have energy security, and the motivation for Alhaji Aliko Dangote will not be defeated. It will be more predictable on a medium and long-term basis,” the President said.
In his remarks, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said the administration’s ground-breaking steps to sell crude in naira would not be reversed, adding that government will not be involved in determining the rate of exchange for the oil sector.
On his part, the President/CEO of Dangote Group, Alhaji Aliko Dangote, told the President that the refinery has more than 500 million litres of fuel in reserve, after supplying 400 million to the economy.
He said the refinery can collaborate with other refineries managed by NNPC Ltd to meet an estimated 32 million litres of local petrol needs.
At the meeting, the Federal Inland Revenue Service Chairman, Zach Adedeji, who chairs the technical committee, said importing refined products should end once the country developed the capacity to produce enough to meet domestic needs.
“The vision of Mr President is to turn Nigeria into a hub for refined products to export to the world,’’ he stressed.
Other stakeholders at the meeting included the President and Chairman of the Board of Afrexim Bank, Prof. Benedict Oramah; Minister of Budget & National Planning, Sen. Abubakar Atiku Bagudu, the and Group Managing Director of NNPC Limited, Mele Kyari.
The president’s Special Adviser on Energy, Olu Verheijen, and the CEOs of NIMASA and Nigerian Ports Authority, NPA, also attended the meeting, along with Engineer Gbenga Komolafe, head of Upstream Regulator, and Farouk Ahmed, head of Midstream and Downstream Regulator, NMDPRA.
[Vanguard]
The All Progressives Congress (APC) in Osun, has suspended Rauf Aregbesola, a former governor of the state, over alleged anti-party activities.
The party accused the former minister of interior of “creating splinter groups in the APC” and making “public outbursts” against President Bola Tinubu, Bisi Akande, a former governor of Osun, and Gboyega Oyetola, minister of marine and blue economy.
The state working committee of the Osun APC said it found merit in the allegations leveled against the former minister by the executives of the party in Ilesa East LGA where he hails from.
In a letter to the national working committee (NWC) of the party, Tajudeen Lawal and Alao Kamoru, chair and secretary of the APC in Osun, said Aregbesola breached article 21 (2) of the party’s constitution.
“Following complaints of anti-party activities levelled against Ogbeni Rauf Aregbesola by the llesa East Local Government executive committee, the State Executive Committee (SEC), after reviewing the allegations and in accordance with the powers vested in it by article 21(3) (vi) (c) of the party’s constitution, hereby suspends Ogbeni Rauf Aregbesola from the party pending the outcome of an investigation into the allegations by a disciplinary committee,” PUNCH quoted the letter as saying.
“The State Executive Commíttee has constituted a disciplinary committee to investigate and provide Ogbeni Aregbesola with the opportunity to respond to the allegations of activities deemed to be in violation of Article 21 (2) of the party’s constitution, particularly relating to anti-party activities that undermine the collective interests of the APC.”
They said the disciplinary committee would give Aregbesola a chance to defend himself.
RIFT BETWEEN TINUBU AND AREGBESOLA
Tinubu and Aregbesola fell out in 2020 when the former minister revamped the Mandate Group — a core of Tinubu’s loyalists — and usurped the closely-knitted caucus for individuals he could trust.
The former Osun governor relaunched the group without Tinubu’s approval and named Abdullahi Enilolobo, his protege, as the new leader.
In 2022, there was an attempt by close associates and friends to reconcile both men in the build-up to the 2023 general election – but that did not yield any tangible result as they still do not see eye to eye.
[TheCable]
The Catholic Archdiocese of Abuja, Cardinal John Onaiyekan, has challenged the northern elite to fix the economic, political and security crisis in the region as a way of fixing the country’s problems.
Onaiyekan spoke yesterday in Abuja when the League of Northern Democrats (LND), led by former governor of Kano State, Senator Ibrahim Shekarau, paid him a courtesy visit.
The cardinal, who commended LND for championing a northern renaissance, challenged them to inquire why there was too much poverty and insecurity in the northern states, when compared to the south of Nigeria.
He stated, Let’s face it, if the north does not move well, Nigeria cannot move well. It’s the same discourse. If Nigeria does move well, Africa cannot move well.”
According to him, “I think we must face the reality that the way northern Nigeria is today is not what we can be proud of. All the various indices of good governance and standard of living, we have a very poor record. If Nigeria is poor, the epicentre of the poor is the north.
“And when there is a league of northern democrats, who are interested in addressing the issues and finding out, why is it that things are not moving as they should, I think things will move because a league of elite northern democrats should be able to engage those who call themselves political leaders, especially as some of you have had good experience in government.
“So, you can tell them, listen, look around you, are you proud of what you see? Out-of-school children all over the place, and it is not an excuse to say we are poor because if we continue about being poor, the issue will remain.
“We are in a federal government and federal resources are being distributed, so what has happened.”
Onaiyekan added, “There is no room for one section of the country to be lagging behind. What it does mean is that the entire nation should be interested in what you people are doing. If for no other reason but for what they normally call enlightened self-interest.”
He stressed the need for all regions of the country to move together, adding that his doors are open to leaders from other parts of the country who share the same interest of ensuring good governance.
The cardinal said the country needed many leagues of democrats to improve the quality of governance.
He stated, “Your initiatives of coming together to form the league of northern democrats for the purpose of trying to reinvent the north is a welcome development. I support what you are doing.
“Go further, ask questions, because when you reinvent the north, you are on the sure positive way to reinvent Nigeria. When you reinvent Nigeria, Africa would reinvent itself. We are the largest black nation in world.”
Onayekan called for harmonious relationship between Christians and Muslims in the north. He said a peaceful relationship between Christians and Muslims was another sure way to build a stable and united northern Nigeria.
The Catholic cardinal went down memory lane to discuss how the Nigerian inter-religious council was formed during the administration of former President Olusegun Obasanjo. He said though the expected goal of complete religious harmony was yet to be desired, with time Nigeria would realise the goal.
Earlier, Shekarau told Onaiyekan that the visit was to acquaint him with the group’s plans to reinvent the north from poverty and the challenge of insecurity by engaging leaders from the region.
Shekarau, who was a two-time governor of Kano State, told the Catholic cardinal that his group was not partisan, but was worried about the level of poverty and insecurity in the northern states.
The former governor stated, “We are an apolitical group, who are worried with the level of economic, security developments in the 19 northern states. We have members from all political parties. Our mission and goals are to reinvent the north from its present economic situation.”
[ThisDay]