FEATURES
The National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Garima, has stated that the Nigerian National Petroleum Company Limited owes petroleum marketers almost N15bn.
Garima stated this on Thursday when he was featured on Channel TV’s Sunrise Daily.
According to him, its members have yet to load a single truck since the NNPCL increased its pump price.
Responding to a question about how much NNPCL is owing its members, he said, “Roughly, it is almost getting to N15bn. Our money is already with the NNPCL. It has refused to give us the product we paid for and is asking us to complete the difference.
“Our money has been with the NNPCL for almost three months now. Either they sell for us at the same rate they are getting the product from Dangote Refinery or refund us so we can buy directly from Dangote Refinery.”
Recall that PUNCH Online had reported that after one week the NNPCL commenced loading Premium Motor Spirit, popularly called petrol, at the Dangote Petroleum Refinery, most filling stations across the country have yet to get the product.
PUNCH Online had also reported that IPMAN in its independence message on October 1, 2024, urged the Federal Government to allow its members to source a direct supply of petroleum products to ease the pressure in the sector.
[Punch]
Gov Dauda Lawal of Zamfara state has reacted to the unfortunate killing of nine operatives of the Community Protection Guards, a state-owned security outfit, in the Tsafe Local Government Area of the state.
The bandits attacked the CPG personnel otherwise known as Askarawa while on duty at a checkpoint on the outskirts of Tsafe town around 8:am on Monday.
In a statement issued on Tuesday, October 8, by his Senior Special Assistant on Media and Publicity, Sulaiman Idris, the governor condemned the attack, describing it as a “barbaric act” committed by bandits who were on the run due to the ongoing military operations in the state.
He commended the bravery of the CPG operatives and other security forces for their relentless efforts to protect the lives and property of Zamfara residents.
"I received the unfortunate report of an ambush by bandits in Tsafe LGA, during which nine of our brave CPG members were killed. The ambush on our guards is a cowardly act by bandits who are dispersed and on the run due to sustained onslaughts by our troops across the state,”the governor stated.
He assured residents that the state government would continue its renewed offensive against banditry in Zamfara and the entire region, reiterating his administration’s commitment to restoring peace and security.
“I want to take this opportunity, on behalf of the government and people of Zamfara, to extend my condolences to the families and loved ones of our brave guards. Their sacrifice will never be forgotten. I hope those injured recover as quickly as possible."
The governor pledged to provide necessary support to the families of the fallen CPG members, emphasising that the government would stand by them during this difficult period.
Deji Adeyanju Slams Nigerians Over Their Attitude Following The Recent Hike In Petrol Pump Price
AFOLABIActivist and lawyer, Barr Deji Adeyanju, has taken a swipe at Nigerians over their attitude towards the recent hike in the price of petrol.
Nigerians woke up on Wednesday with the news of NNPC changing the pump price of petrol from N868 to 1031 at its various outlets in Abuja.
Worried by the silence of Nigerians on the new development, Deji stated that nobody wants to chase clout by protesting.
He wrote;
‘’Fuel is now N1,030 but nobody want to chase clout by protesting. Everybody waiting for everyone to start protest.''
Greek football was in shock Thursday at the death of Panathinaikos and Greece international George Baldock, with tributes uniting even the country’s usually hostile rival fans.
The 31-year-old English-born right-back — a former Sheffield United stalwart in the Premier League — was found dead on Wednesday evening in a swimming pool at his home in the southern Athens suburb of Glyfada.
“We can confirm that George has sadly passed away. As a family we are in shock at this terrible loss,” his family said in a statement.
News of Baldock’s death dominated social media with the top-flight Super League and clubs sending condolences even before Panathinaikos posted their own statement.
Even fans from clubs hostile to Panathinaikos expressed grief at the loss of a genuinely well-liked player.
State TV ERT reported that Baldock was “at the bottom of the pool” and that a bottle of vodka was found at the scene.
State news agency ANA said Baldock’s wife, who is abroad, alerted the owner of the residence after unsuccessfully trying to reach the player on the phone.
As police cars and an ambulance were dispatched to the scene, several Panathinaikos players gathered outside the building and a coroner was called.
A first examination did not reveal signs of foul play, ERT said Thursday, adding that the player had been dead for about five hours when he was found. The home also showed no evidence of forced entry.
George Baldock joined Panathinaikos in May after a seven-year spell with Sheffield United, relegated from the English Premier League to the Championship last season.
Of Greek origin through his father, he was called up by the Greek national team in 2022 by then-manager Gus Poyet.
Poyet said he was “devastated” by the news. UEFA said the European football community was “deeply saddened”.
Baldock had 12 caps, but had not been selected for the team’s Nations League match against England at Wembley on Thursday because of injury, ERT said.
– ‘One of our own’ –
The Greek federation called Baldock “one of our own” and has requested that Greece’s players wear black armbands for the game.
There were calls under UEFA’s post on Baldock for the game to be postponed.
Baldock had featured for Panathinaikos in a 0-0 draw with Olympiacos in a Greek Super League match on Sunday where he played for 75 minutes.
The club’s training sessions for Thursday and Friday were cancelled.
Both the Greece team’s official website and his club’s social media sites on X and Facebook, were blackened in tribute to the player.
Messages of support poured in from Premier League clubs including Manchester City, Liverpool and Chelsea, who face Panathinaikos in Conference League action later this month.
Manchester United’s England international defender Harry Maguire, a former Sheffield United player, posted “RIP” and a heartbreak emoji alongside an image of Baldock on Instagram.
Sheffield United changed their homepage to a black and white photo of their former player with the words: “RIP George Baldock.”
“Sheffield United Football Club is shocked and extremely saddened to learn of the passing of former player, George Baldock,” said the club.
Northampton, where Baldock had a loan spell in 2011, wrote on X: “We are deeply saddened to learn of the passing of former loanee George Baldock at the tragically young age of 31.”
Baldock’s boyhood club MK Dons said they were “deeply devastated and saddened to learn about the shocking news”.
“George started his career at Stadium MK, where he worked his way through the youth ranks and made his senior career debut at the Club before reaching the heights of the Premier League in later years.
“You will always be one of our own, George.”
The Football Association in England wrote on X: “We are devastated to learn of the passing of George Baldock at the age of 31. Our thoughts and deepest condolences are with George’s family, friends and team-mates at club and country.”
Baldock was nicknamed “Furious George” by Sheffield United fans in tribute to his uncompromising style.
“I just love winning. I hate losing and I even hate drawing,” he told local media.
Although the latest petrol pump price hike by the Nigerian National Petroleum Company (NNPC) Limited is seen as a step towards the full deregulation of the downstream sector, the huge subsidy payments and its sole-distributor role have become a significant burden on the national oil firm, insiders have told TheCable.
The Dangote refinery officially began petrol production on September 3 with plans to sell only to the NNPC.
After more than a week, petrol lifting from the refinery began on September 15, arriving at the pump stands to the delight of Nigerians who desire an end to Nigeria’s chronic petrol importation — with eyes on cheaper pump prices.
An insider said the delay in lifting petrol — also called premium motor spirit (PMS) — owed to logistics challenges, noting that the supply from the refinery also fell below expectations.
“While the PMS discharge from the station may have sliced off a portion of the country’s fuel import requirements, it was still a far cry from expectation as the refinery only delivered 102,973,025 litres, out of the 400 million it pledged to supply within the period,” the insider told TheCable.
It is understood that the volume provided by the Dangote refinery within 15 days “was barely enough for the amount required for only two days”.
“The Nigeria National Petroleum Company (NNPC) had to cough out nearly N13 billion for Nigerians to buy the commodity at the price they did in the second half of September,” the source said.
Evacuation analysis seen by TheCable shows that about 2,207 trucks were used by the national oil firm and other marketers to lift PMS from the facility between September 15 and September 30.
OIL PRICE, FX VOLATILITY
The unit price per litre tumbled with the prevailing foreign exchange (FX) rate, resulting in a change in the price of the commodity about six times within the 15 days under scrutiny.
“The NNPC, as the sole off-taker of the product, paid between $746 per metric tonne when the lifting started picking up to $759.40 and sliding down to $714.15 per metric tonne by the end of September,” the insider explained.
He said the naira price oscillated between N882.18 and N960.85 per litre — depending on the purchase and FX rates on the days of each transaction.
The insider said a day before the announcement of truck mobilisation, the NNPC’s first consignment signed off on September 14 was received at N882.18 per litre using the FX of N1,546.41 per dollar.
By September 18, according to the source, the product price and FX rate increased to $759.1 and N1,656.49/$, respectively.
“This sharply affected the product price in naira to N960.85,” he said.
“However, by September 20, the product price slimmed along with the FX rate which dropped to N1,544.02, bringing the PMS price to N893.35. Though the product price from the refinery had come down to $714.15 by the end of the month, the worsening of the FX rate to N1,657.42 made the PMS price close at N937.30.
“To maintain stability at the pump price, the NNPC Trading sold the product to its retail company and other marketers at a fixed price of N749.99 throughout the period.
“With this, the company topped up an average of N133 per litre for every litre bought from the refinery. This came to over N12.5 billion for what a senior official called a ‘paltry 103 million litres’.”
‘UNBEARABLE BURDEN’
On October 7, reports of NNPC’s decision to quit its sole off-taker role with the Dangote refinery circulated.
Insiders told TheCable that the middleman role played by the national oil firm in distributing the PMS has caused it an “unbearable burden”.
This comes as NNPC struggles to clear a $6 billion debt owed to international fuel suppliers. The company has been dealing with serious financial strains, a situation that continues to threaten petrol supply.
In a recent interview with Bloomberg, Aliko Dangote, chairman of Dangote Industries Limited (DIL), had asked the federal government to stop subsidy payments, which he described as unsustainable.
Sources said due to this, the NNPC will be forced to relinquish its role as the sole supplier and allow other marketers to access the product directly from the Dangote refinery at the prevailing market price — an outcome the federal government had tried to prevent.
On September 14, the federal government had said the refinery would sell petrol only to the NNPC, adding that interested marketers would have to buy the product from the national oil firm.
The house of representatives had frowned on this arrangement, asking the federal government, on September 26, to allow independent marketers to buy petrol directly from the plant.
The insiders believe that with NNPC quitting as the sole distributor, fuel prices will likely jump at the pumps nationwide, as an augmented amount will now be passed to the consumers.
“The prices are however expected to stabilise in coming days as freeing up of the market would induce competition and potentially stabilising supply chains,” another source said.
[TheCable]
Dismisses reports of Boko Haram attack on his convoy
Former chairman of the Senate Committee on Army, Senator Mohammed Ndume, yesterday, insisted that the Nigerian military is ill-equipped and lacks the wherewithal to end Boko Haram or banditry.
This came as he dismissed reports circulating on social media that his convoy was ambushed by suspected Boko Haram terrorists.
The Senator representing Southern Borno and Gwoza senatorial district spoke at his Maiduguri residence after returning from a condolence visit to families of those recently killed by terrorists in Ngoshe, Kirawa, Ashigashiya, and other communities in Gwoza local government area.
Ndume said, “On Tuesday, October 8, 2024, my humble self and other concerned stakeholders, with a convoy of military escort, were on our way to Ngoshe to condole with families of those who were killed by terrorists before proceeding to Kirawa. On our way, we received a distress call that some Cameroonian soldiers and motorists were ambushed along the Pulka-Kirawa road.
“After condoling with the people of Ngoshe, we took courage and proceeded to Kirawa despite the fact that there was an attack on the road the same day by terrorists. We reached Kirawa successfully, where we also condoled with the families of those killed by terrorists last week. We encouraged residents to be resilient and not to panic over the renewed Boko Haram attacks.”
According to him, the Kirawa road ambush targeted a Cameroonian Bureau De Change/businessman (Alhaji Kadi), who was killed alongside an unidentified woman, while others sustained injuries.
“As Senator representing Southern Borno and Gwoza inclusive, I had planned earlier to go to Ngoshe and Kirawa for condolence. I could only go to Ngoshe because the road to Kirawa was not accessible then. So, when we left yesterday, as I told you, the Theatre Commander and the GOC 7 Division directed the Brigade Commander in Gwoza, who led the escort team personally.
“It has been a long time since I had such a heavy military escort from Maiduguri to Ngoshe. As we were going to Ngoshe, we got to a village called Wizza, where there is a junction to Kirawa. Unfortunately or fortunately, we received information that the Cameroonian soldiers in Kirawa were ambushed by terrorists, but the target was not me, rather the person they killed, including an unidentified woman. Although I was told that there were other passengers who were victims of the ambush, as Tuesday was a market day in Kirawa.
“I strongly suspect that some individuals are colluding with Boko Haram, passing information to the terrorists. However, the Nigerian Army sent a reinforcement team that cleared the entire area, despite the detonated bombs planted by the terrorists damaging two military patrol vehicles. We took courage and visited Kirawa immediately after the attack to encourage our people to stand up against Boko Haram. I also took advantage of my visit to lay the foundation for two blocks of classrooms in Kirawa, and I am now back in Maiduguri safe and sound.
“Regarding the renewed Boko Haram killings, especially targeting farmers while harvesting their crops, I was reliably informed by the Village Heads of the affected Gwoza communities that almost half of the crops produced by resilient farmers in Ngoshe, Kirawa, Ashigashiya, and other surrounding communities around the Mandara Mountains were looted by terrorists, leaving local farmers frustrated and hungry.
“On a serious note, our military forces and the State Government under the leadership of Governor Babagana Zulum are doing well in tackling issues related to Boko Haram killings, but both have limitations. For instance, the federal government should equip our military forces, and arm and motivate them. I also spoke with the Chief of Defence Staff, General Christopher Musa, and he assured me that they will reinforce additional forces in Gwoza to enable farmers to harvest their hard-earned crops.
“The military is determined and committed to ending Boko Haram’s madness, but this cannot be possible if they are not fully equipped, armed, trained, and motivated.”
A Turkish Airlines pilot died after collapsing mid-flight, forcing the Turkish national carrier to make an emergency landing in New York, the airline said, yesterday.
The plane had taken off from the western US coastal city of Seattle on Tuesday evening, airline spokesman Yahya Ustun wrote on X, formerly Twitter.
He wrote: “The pilot of our Airbus 350 flight TK204 from Seattle to Istanbul collapsed during the flight.
After an unsuccessful attempt to give first aid, the flight crew and a co-pilot decided to make an emergency landing but he died before landing.”
According to the airline management, the 59-year-old pilot, who has worked for Turkish Airlines since 2007, passed a medical examination in March, which gave no indication of any health problems.
A 68-year-old woman, Mrs Esther Adeola, and her four grandchildren, have died mysteriously after they reportedly consumed pap.
Vanguard learnt that the ugly incident occured at Atayese Street, Gaga area in Akure, the state capital.
Reports had it that Adeola was a retired Admin officer of the Federal Government Girls College, Akure.
A family source told newsmen that “The elderly woman who was their paternal grandmother died suddenly and the family members took her to the mortuary.
“We were not suspicious of anyone or anything as the cause of her death as she was advanced in age. We believed her passing away was natural.
“After her death, my sister and her husband had gone along with their children to the deceased’s house to tidy up her belongings and they saw some processed dried pap in the kitchen which the younger ones craved to have while their parents declined.
“Their mother who is my sister made the pap and gave it to her children and their cousin who came along with them.
“My nephews and niece were ages seven, five and three while their cousin was 10.
“As the children took the pap, they all began to writhe in pain and the parents who were alarmed at the sudden and strange development rushed the children to the state Specialist Hospital, Akure.
“It was at this juncture that we began to suspect that probably the pap must have been poisoned or contaminated and could be the cause of their grandmother’s death.
“The four children spent three days in the hospital before they died. They would have made it if they were promptly attended to by the medical personnel.”
The source said that the children have been buried.
She said that the family did not report the case to the police because they did not suspect anyone.
More...
The Centre for the Promotion of Private Enterprise (CPPE) has decried the recent increase in petrol prices, describing it as “ill-timed and insensitive” to Nigeria’s prevailing economic challenges.
Muda Yusuf, chief executive officer (CEO) of CPPE, spoke in a statement on Wednesday.
Earlier today, the Nigerian National Petroleum Company (NNPC) Limitedincreased the price of premium motor spirit (PMS), also known as petrol, across its retail outlets.
TheCable observed that the price of the product increased to N998 per litre in Lagos on Wednesday — up from N855/litre.
Speaking on the development, Yusuf said the federal government should consider social, economic, and political factors in policy decisions, rather than solely focusing on commercial interests.
The CPPE CEO said the price increase is regrettably ill-timed and does not reckon with the prevailing difficult economic conditions.
“It is important to stress that Social, economic and political considerations matter in policy choices. Commercial considerations should not completely override these considerations,” he said.
“The Nigerian economy is not ripe for full-blown deregulation and market principles on all fronts.
“The social cost of such policy choices is typically very high. This is an economy with very weak social safety nets. Over one hundred million people are wallowing in various variants of poverty.”
Yusuf said the country is also faced with the challenge of “policy sequencing”.
He said it would have been better for the government to implement the economic stabilisation bill before introducing the petrol hike.
“The present administration has presented an Economic Stabilisation Bill to the national assembly,” he said.
“The Bill is expected to bring some relief to the citizens and businesses. It would have been better to allow the proposed mitigating measures to be activated and gain traction before coming up with the petrol price hike.
“What the economy needs at this time are measures to ease the current economic and social challenges; not policies that would aggravate them.”
‘FG SHOULD URGENTLY CUT IMPORT DUTIES, PEG EXCHANGE RATE’
Yusuf also said it is now important for the government to urgently cut import duties and taxes by a minimum of 25 percent on all industrial raw materials.
He added that the customs duty exchange rate should be fixed at a maximum of N1000 per dollar to reduce the current prohibitive cost of imports.
“Relevant legislation should be amended to that effect. This is without prejudice to the fiscal policy measures contained in the Economic Stabilisation Plan,” Yusuf said.
“The government must be ready to trade off some revenue in the current situation.”
“There is a need to seek to achieve the maximisation of welfare function for citizens and productivity function for businesses.”
Yusuf also stressed that the government should not be fixated on revenue maximisation.
Multiple award-winning artiste David Adeleke, popularly known as Davido, has marked the first birthday of his twin children with his wife, Chioma.
Davido shared the news in a post on X.com on Wednesday, writing, “+1 Alhamdulillah,” accompanied by two baby emojis.
His post has since gathered thousands of congratulatory messages from fans and well-wishers.
Recall that in October 2023, Davido confirmed the arrival of the twins—a boy and a girl—with Chioma in the United States.
He stated that he and his wife were in shock when they discovered they were expecting twins.
A viral video subsequently emerged showing Chioma sitting in a wheelchair and cradling the two babies, with Davido beaming with joy beside her.
A team of Peoples Democratic Party (PDP) lawyers and forensic experts were, on Wednesday, attacked and assaulted at the office of the Independent National Electoral Commission (INEC) in Edo State by thugs suspected to be members of the All Progressive Congress (APC).
The thugs are alleged to be operating in connivance with officials of INEC and operatives of the Nigerian Police Force who were seen providing security for the APC thugs and members.
The team of PDP lawyers and forensic experts are at the INEC Office to inspect the BVAS machine, voters register, ballot papers, and other election materials used by the electoral body for the September 21 gubernatorial election to flesh up the party’s petition against the alleged rigging of the governorship poll.
The inspection of election materials is one of the prerequisites in challenging any electoral result in Nigeria. The PDP and its lawyers were, however, prevented by INEC from inspecting the materials since Monday, despite presenting a court order.
The electoral body however bowed to pressure on Tuesday evening, announcing today, Wednesday, October 9, 2024 as the date for all parties to come for the inspection exercise.
The PDP who visited the INEC Office on Wednesday to carry out their duties met an already charged atmosphere with thugs linked to the APC intimidating and physically assaulting them, while security personnel, including officers from the Nigerian Police Force, failed to intervene.
Many sustained various degrees of injuries with their phones and other gadgets destroyed, while others scampered for safety.
Speaking to journalists, a forensic expert who spoke on the condition of anonymity said, “We are here to do our job following the directive of INEC for us to come for inspection of the materials used for the elections. However, when we got here, we met a huge crowd of thugs mobilized by the APC.
“They have been attacking, assaulting and harassing us. Some of the thugs got my phone and laptop and smashed it on the floor and many other of my colleagues were also injured in the process. Worst still, the police who are supposed to restore sanity and guarantee security just stood by watching while they unleashed havoc on innocent people who were going about their lawful businesses.”
The trial of the immediate-past Governor of the Central Bank of Nigeria continued on Wednesday with a former CBN Deputy Governor, Edward Adamu, testifying as the fourth witness.
Emefiele is being prosecuted by the Federal Government over the chaotic naira redesign policy of the CBN under his watch in late 2022.
The ex-CBN helmsman faces four counts before Justice Maryanne Anenih of the Federal Capital Territory High Court, Maitama in Abuja.
Appearing as the fourth prosecution witness on Wednesday, Adamu told the court that Emefiele breached the laid down procedure in the naira design exercise of 2022.
Adamu, led in evidence by the prosecuting counsel for the Economic and Financial Crimes Commission, Rotimi Oyedepo, (SAN), told the court that during his time as a CBN staff, he witnessed previous redesigns of the naira, carried out with the aim of addressing issues of volume of currency in circulation, inflation, counterfeiting and general currency management, among others.
He, however, claimed that the 2022 naira redesign exercise carried out by Emefiele during ex-President Muhammadu Buhari’s administration was without the approval of either the President or the CBN Board, contrary to the law.
Adamu explained that the standard procedure for a naira redesign originates from the Director of Currency Operations and is passed on to the Committee of Governors, who then forward it to the CBN Board for approval before it reaches the President.
He alleged that Emefiele bypassed this process.
Instead, Adamu testified that Emefiele convened a meeting of the Committee of Governors, where he presented a purported presidential approval for the redesign and proceeded with implementation.
He further noted that, upon reviewing Exhibit E2, which was admitted as evidence, the design of the naira notes currently in circulation differed slightly from what was approved by both President Buhari and the CBN Board.
He asserted that these changes were made unilaterally by Emefiele.
During cross-examination, the defense counsel, Olalekan Ojo (SAN), asked Adamu if, prior to the recent naira redesign, it was customary for a board recommendation to precede presidential approval. Adamu confirmed that it was.
Ojo then asked if there had ever been a practice where the President gave approval before the board was informed. Adamu responded that such a practice was not the norm during his tenure.
The defence counsel further questioned Adamu on whether he was aware of instances where the President approved the release of funds to ECOWAS, the military, or other countries without prior consultation with the CBN Board or Committee of Governors. Adamu admitted to being aware of one such instance.
Ojo also inquired if Adamu knew of any consequences for not adhering to procedures outlined in the CBN Act. Adamu stated that he could not recall.
Referring to an earlier statement made to the EFCC on February 24, 2024, Ojo asked Adamu if he recalled saying that the minutes of CBN Meeting 764 were adopted. Adamu responded that he could not remember.
The defence counsel argued that the witness’s account in court was inconsistent compared to his statement to the EFCC.
The prosecution counsel objected, arguing that the witness’s testimony and prior statement were not yet in evidence before the court.
The judge subsequently allowed the witness to refresh his memory by reviewing his statement, which he did.
The defence counsel then asked Adamu if he was privy to any discussions between the former CBN governor and the President regarding the specifics of the redesign. Adamu responded in the negative.
Justice Anenih adjourned the case till November 18 for the continuation of the trial.