Nigerians continue to lament the announcement of the fuel subsidy removal made by President Bola Tinubu as filling stations across the country persist for motorists and commuters. 

Recall that Tinubu, in his inaugural speech on Monday said that the fuel subsidy can no longer be sustained, hence, it will be removed. 

 

The announcement received mixed reactions and this sparked hike fuel prices, and consequently jerking up transport fare across the country.

The Nigerian National Petroleum Corporation Limited (NNPPL) made an official announcement that a litre of Premium Motor Spirit (PMS) popularly called petrol will be officially sold between N448 to N557.

Meanwhile, there are vagaries of prices across the country as the North-East region feels the pangs most with Borno and Yobe states selling at N575.

Gombe, Bauchi, Taraba and Adamawa are selling at N550 per litre.

Vanguard checks revealed that motorists spend hours before getting petrol while some people had to go through sleepless nights since Tuesday to get fuel despite warning from NNPCL Managing Director, Mele Kyari that there should not be panic buying and hoarding.

The North-West came second as the region experiencing highest prices as Kebbi tops with N545, while others such as Kano, Katsina, Zamfara sell as N540.

The South-West region has the fuel stations selling at the lowest prices with Oyo, Osun, Ondo, Ogun and Ekiti selling at N500, while Lagos sells at N488.

In reality, these official prices are difficult to see as citizens in Lagos said they buy at more than N500 per litre.

[Vanguard]

The Central Bank of Nigeria (CBN) has devalued the Naira to N631 to the dollar from N461.6 it sold at the Importers and Exporters (I&E) window the previous day.

The devaluation came 48 hours after President Bola Ahmed Tinubu, in his inaugural speech on Monday, said the apex bank must work towards a unified exchange rate country to stimulate the economy.

Following the statement, President Tinubu met with the CBN Governor, Godwin Emefiele, on Tuesday at the Presidential Villa, Abuja over the issue of the exchange rate.

Daily Trust reports that at the resumption of the weekly bidding for foreign exchange, the apex bank sold the spot rate to banks on behalf of their customers at N631 to a dollar and most bidders got the full amount they requested.

One of the customers told the newspaper that they applied and that their request was fully granted at N631 as against N461.6. The move has also seen prices at the parallel market trend downwards.

It was also learned that prices dropped from N750 to a dollar in the early hours of yesterday to N745 by evening in Abuja and Kano respectively.

The naira weakened in the parallel market to the lowest level in a year on expectations of a possible change in exchange rate management after Tinubu takes office on Monday.

The naira dropped to N762 a dollar on Friday from 775 the previous day in the unauthorized market in Lagos, said Umar Salisu, a BDC operator who tracks the data in the nation’s commercial capital.

The unit has weakened steadily in the parallel market since last week after stabilizing for most of this year.

Two financial experts have been suggested to President Asiwaju Bola Ahmed Tinubu as possible replacements for the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele.

 

Recalls that Emefiele became CBN governor on June 4, 2014. He has retained the position for about nine years and may vacate the position in a few days.

Also, due to a series of controversies following the implementation of the Naira swap policy during the 2023 electioneering period, many stakeholders and top government officials have been calling for his immediate sack and replacement.

Speaking during a recent interview with Arise Television, a Senior Advocate of Nigeria (SAN), Olisa Agbakoba, urged the newly sworn-in president of Nigeria, Tinubu to immediately replace Emefiele with either the Chairman of Fidelity Bank Nigeria, Mustafa Chike-Obi, or the Chairman of the Board of Directors of Citibank Nigeria, Yemi Cardoso.

Agbakoba also admonished Tinubu to without further hesitation, appoint his cabinet, stressing that the Nigerian leader must appoint only good people in his cabinet. 

He said: “We need to talk about a limited government. The government is too big; he needs to have good people.

“The timeline for an appointment is absolutely today. Today, I will think he should be making critical appointments, I will just give a couple of names: Mustafa Chike-Obi or Dr. Yemi Cardoso.”

Agbakoba also charged Tinubu to unbundle the Transport Ministry into four sub-ministries. He noted that the new Transport Ministry should comprise rail, road, shipping, and air.

“Works should seize to be a ministry and they should go onto transport ministry.

“The challenge for Tinubu will be to name at least four or five critical ministers, because there is no time to waste,” the SAN noted.

 

Details Of Meeting Between Tinubu, Emefiele, Kyari Surfaces

Meanwhile, details of the meeting between President Tinubu, CBN governor, Emefiele and the Group Chief Executive Officer of Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari, have surfaced.

Recalls that Tinubu had met with Emefiele and Kyari on Tuesday on his first day in office in the Presidential Villa, Abuja.

Sources from the presidency, however, told journalists that their discussion was centred around the removal of the fuel subsidy.

Tinubu, during his inaugural speech on May 29, announced that fuel subsidy was gone, as it was not provided for in the 2023 budget.

However, sources from the presidency have stated that the removal of the petrol subsidy will no longer be immediate.

The source stated that the reason for the meeting was to clarify issues surrounding the fuel subsidy. He explained that there are plans to engage labour anytime from today to ensure the seamless removal of the subsidy.

A source said one of the fallouts of the meeting was for NNPCL to set up a template that would ensure that no toxic fuel was imported into the country and also create a benchmark for price.

The clarification came as scarcity of the product ground activities in major cities nationwide yesterday.

On Tuesday, fuel queues emerged in many petrol stations as marketers who started hoarding fuel sold the product for as high as N600 per litre and transporters hiked fares.

Last modified on Thursday, 01 June 2023 07:50

As the Federal Government affects the removal of subsidy on Premium Motor Spirit (PMS), petrol pump price has risen by over 177 percent.

This was even as the Nigerian National Petroleum Company Limited (NNPCL) announced an adjustment of PMS across its retail outlets in the 36 States of the Federation and the Federal Capital Territory (FCT).

The new pump price which is not uniform took effect on 31st May, 2023.

Currently, the average cost of the petroleum product is now N526/litre.

In a statement signed by the NNPCL Spokesperson, Garba Deen Muhammad, the Company said it adjusted the pump price across its retail outlets, in line with the current market realities.

It said the prices will continue to fluctuate to reflect market dynamics.

“As we strive to provide you the quality service we are known for, it is pertinent to note that prices will continue to fluctuate to reflect market dynamics.We assure you that NNPC Ltd. is committed to ensuring ceaseless supply of products.

“The Company sincerely regrets any inconvenience this development might have caused.


“We greatly appreciate your continued patronage, support and understanding through this time of change and growth,” the statement reads.

Meanwhile, in a widely circulated price template from the NNPCL, the new pump price is put between N488 and N557 depending on the State.

For instance at Shafa filling station along Airport Road, Abuja, the product was sold at N540 while motorists have also increased transport fares.

Similarly, since the new price became effective,Nigerian Tribune noticed that fuel queues which started building up on Monday are gradually disappearing as filling stations were now dispensing products.

A Bolt driver, who spoke to the Nigerian Tribune, confirmed to have bought PMS at N540 adding that this has yet to reflect in the ride hailing trip fares.

The Naira depreciated at the Investors and Exporters window on Wednesday, exchanging at N464.67 to the dollar.

This comes barely three days after Bola Tinubu was sworn-in as Nigeria’s 16th President.

The local currency showed a 0.04 per cent decrease when compared with the N464.50 to the dollar, it traded on Tuesday.

The open indicative rate closed at N464.10 to the dollar on Wednesday.

An exchange rate of N467 to the dollar was the highest rate recorded within Wednesday’s trading before it settled at N464.67.

The Naira sold for as low as 460 to the dollar within the days trading.

A total of 163.74 million dollars was traded at the official Investors and Exporters window on Wednesday.

(NAN)

The Rivers State Police Command has rescued six pregnant young women from a child trafficking syndicate arrested in Aluu, Ikwerre Local Government Area of the state.

The rescued women who are between the ages of 20 and 23 years were at various stages of their pregnancy were being camped with the intentions to trade their babies after they were delivered of them.

The pregnant women were arrested Tuesday together with Akudo Azoroh, the operator of the child trafficking centre who admitted running the illegal business but explained that she gives out the babies to families who do not have children of their own, and not to ritualists.

Mrs. Azoroh stated that the women were already pregnant when they came to her, adding that she pays off the girls as much as N800,000 to N900,00 depending on the stage of the pregnancy at the time they came and the gender of the child they delivered.

According to her; “I have given out six children in the past, I started the business three years ago. I do not have boys who get the girls pregnant, they were already pregnant when they came; they came to me on their own.

“I give out the babies only to families who do not have children and not to ritualists; I give them out for between N1.4 and N1.5 million, depending on the sex of the baby, while I pay their mothers off depending on the stage of the pregnancy at the time they came.”

Some of the pregnant women admitted to journalists that they went to the factory pregnant and that they intended to give out the children after birth because they do not have the means to support them after birth..

One of them who was very remorseful, speaking in tears, said her elder sister took her to the centre with the support of their mum. She disclosed that the father of the unborn baby was neither aware of her pregnancy nor that she was in a child trafficking home.


Meanwhile, the new Commissioner of Police (CP), Rivers state, Polycarp Nwonyi has warned corrupt officers in the state command to turn a new leaf, as he would not tolerate compromise as his stands for zero corruption and human rights abuses.

Addressing journalists in maiden meeting with the press, Nwonyi who took over from Okon Effiong Okon noted that his primary assignment in the state was ro protect life and property, and that he would not leave any stone unturned in achieving the goal.

He said; “My primary assignment is to protect life and property with humility, due diligence and intergrity. “My administration has no room for corrupt officials.

He announced that monitoring teams would go round to monitor the activities of man and officers.

“Under my watch nobody shall be detained unlawfully. Arrest by proxy is prohibited. We shall be civil to members of the public. Accidental discharge will not be tolerated.

“Defaulters shall be punished in accordance to the law and DPOs queried. I shall ensure DPOs and Head of departments visit their men in their beats.

“Visible policing will be more noticeable under my watch while standard operating procedure will be highly applicable under my watch. I reiterate my pledge to serve people of Rivers State diligently to the best of my ability”.

He insisted that crimes and criminality have no place in the stste under his watch. Nwonyi thanked the state government for always being there for the Police and appealed that it relent not in the good works.


“I commend the state Government for providing enabling environment for my predecessors, I pray that the state Government extend such gesture to my administration.

“Let me state categorically that I am here to tackle crime and criminality in accordance to international best practices and respect human rights.No efforts will be spared dealing with criminal elements in the State.

“A total war have been declared on cultism, kidnapping etc.I will spare no efforts in smoking them out”, the CP declared.

The Nigerian Police Force, Zone 16 Command, says it has arrested four Policemen over their involvement in the abduction and extortion of N20 million from two alleged internet fraudsters popularly known as “Yahoo Yahoo Boys” in Bayelsa State.

It was gathered that the arrested Police personnel were said to have confessed to the fact that two civilian accomplices, one Eyi Matthew Excel and Mayor Goodluck Arab gave them the information that some internet fraudsters had successfully scammed a foreigner of the sum of $58,000.

Based on the rip-off, the accused policemen stormed the residence of the alleged fraudsters, who are indigenes of Bayelsa State but relocated to Nigeria from Ghana where they pulled off the scam, got them arrested and blindfolded to an unknown hotel in Azikoro town, Yenagoa City.

They threatened to kill the fraudsters with the claim that someone from Ghana accused them of theft.

According to an impeccable source, “They threatened to kill them if they didn’t part with N50 Million. The boys later succumbed and agreed to part with N20 million. They took them to two separate banks where they transferred N7 million and N13 million to the policemen.”

It was later gathered that a friend of the victims who learnt about their ordeal decided to report to the Nigerian Police headquarters through their mobile number advertised in the media which drew the attention of top police officers to the case.

Preliminary investigations, however, revealed that the AIG of zone 16, Benjamin Okolo was reported to have ordered the arrest of the accused persons because their actions were carried out without the approval of their superior officers.

“They were not members of a team. They work at various units but do shady deals together. In the past, they were nearly killed by some Military officers along Agbura road in Ogbia Local Government Area where they mounted an illegal roadblock to extort money from crude oil bunkers,” a source said.


It is learnt that the accused police personnel have returned the N2.5 million they each made from the said deal, while Eyi Matthew Excel is reported to have returned his share of the deal but is still at large.

When contacted, the Zonal 16 Police Public Relations Officer, SP Ikwo Kelvin, confirmed the incident and said that the said police officers are in police custody and investigation into the matter is ongoing.

STRONG indications yesterday that the candidacy of former Senate Minority Leader, Senator Godswill Akpabio, may have hit brickwall as the President Bola Ahmed Tinubu is said to have withdrawn his support for him in the contest for the Senate president in the 10th National Assembly.

Recall that the All Progressives Congress, APC, had announced the endorsement of Senator Godswill Akpabio and three others for the topmost positions in the National Assembly.

Senator Akpabio from South-South was endorsed for Senate president, Senator Jubrin Barau from North-West for Deputy Senate President, Tajudeen Abass, North-West for speaker, House of Representatives and Kanu, South-East, for deputy speaker.


This did not, however, go down well with some members of the party, especially those aspiring for the position of presiding offices in both the Senate and the House of Representatives, following the protests and condemnation that trailed the party’s endorsements.

It was gathered yesterday that senators, mainly from the South West, have called for a meeting for tomorrow, where they would take a decision to work.towards reviewing their position on choice of leadership of the Senate.


According to a senator from one of the states in the South West, the meeting is for senators from the zone to know the outcome of a crucial meeting of the leading tendency among the senators-elect scheduled for Thursday which they have strategically asked some of their members to attend.


President Bola Tinubu is said to have heeded the advice of his trusted political allies by tacitly withdrawing his support for the former governor of Akwa Ibom State, Senator Godswill Akpabio.


The President, sources said, was resolute in running a corruption-free government, with emphasis on strengthening all the existing policies and institutions concerned with anti-corruption towards achieving this goal.


In his inaugural speech, Tinubu declared pointedly that his government would take” proactive steps such as championing a credit culture to discourage corruption, while strengthening the effectiveness and efficiency of the various anti-corruption agencies.”


With this statement, the source said ”most of us have come to the full realization of the fact that President Bola Tinubu would not for anything support any senator with myriads of cases of corruption in the anti-graft agencies after declaring before the world that he would strengthen and make them more effective.”


A senator from one of the state in the S-West confided in Vanguard: “We have seen the follies in remaining in this camp, it will not work. We have fixed a meeting for Thursday where we are going to chart our next line of action.”


However, the Director General for the Akpabio/Barau Stability Group, Senator Ali Ndume, APC, Borno South, said in his reaction to the development yesterday: “It is not surprising that whenever a politically exposed person is contesting elections, some people would be sponsored to raise issues against him or her.


“Don’t forget that President Bola Tinubu was also severally accused when he was campaigning to be president.”

 

“We are not actually bothered about what the sponsored groups are saying about Akpabio, the anti-graft agencies know what to do. Why are they teaching them what to do?


“They are alleging that some corrupt activities took place under his watch at the NDDC but they did not say he misappropriated funds as governor or as minister.


“Akpabio was not the accounting officer of the NDDC, he only supervised the Ministry of Niger Delta Affairs.


“They also accused him of not constituting the board of the NDDC but that also was not his job. The president of the country is saddled with such responsibility.”

The National Assembly management has commenced clearance of members of the Senate and the House of Representatives for payment and collection of severance packages, as the 9th Assembly winds down.

The Clerk of the House, Yahaya Danzaria, made this known in a notice to members at the plenary on Wednesday. 


The 9th Assembly, which was inaugurated on June 11, 2019, is expected to wind down by the first week of June, while the 10th Assembly is billed for inauguration on June 13, 2023.

The Speaker of the House, Femi Gbajabiamila, read out the Clerk’s notice to members on the floor.

Danzaria informed “all honourable members to collect their clearance forms for the payment of severance gratuity from the Office of the Clerk to the House and submit same after completion in Annex Room 2.154 or 2.031, Finance and Accounts Directorate on or before Friday, June 9, 2023.”

For the outgoing 9th Assembly, over N30bn has been budgeted for severance and welcome package for outgoing and incoming members and aides in the 2023 Appropriation Act.

Under statutory transfers, the National Assembly and its affiliate bodies will spend a total of N194,839,144,401 this financial year. The sum of N169bn was proposed for the federal bi-cameral legislature in the original bill.


Details of the National Assembly budget are as follows: Severance/inauguration of outgoing and incoming 9th and 10th Assembly (legislators and legislative aides) – N30,173,520,592; National Assembly Office, N30,492,518,529; Senate, N33,267,001,807; House of Representatives, N51,994,511,954; National Assembly Service Commission, N10,555,809,322; Legislatives Aides, N16,520,653,763; PAC – Senate, N118,970,215; and PAC – House of Representatives, N142,764,258.

Others are National Institute for Legislative and Democratic Studies, N7,411,813,596; Service Wide Vote, N671,335,001; Office of Retired Clerks and Permanent Secretaries, N1,059,121,701; Appropriation Committee Department – Senate, N125,000,000; Appropriation Committee Department – House, N165,000,000; National Assembly Library building (ongoing), N4,250,000,000.

Also in the National Assembly budget is N11,307,475,470 allocated to General Services; hosting of Conference of Speakers of African Parliament, N127,500,000; NASS Liabilities, N8,500,000,000; NASS e-Library, N255,000,000; NASS Dashboard, N118,150,000; Constitution Review, N850,000,000; completion of NASS Library Complex (repeated), 7,500,000,000; completion of NILDS HQ, N2,500,000,000; and construction of NASC building, N10,000,000,000.

Meanwhile, severance benefits to retired heads of government agencies and parastatals will cost the country N1bn, while the entitlements of former presidents/heads of state and vice-presidents/Chief of General Staff was allocated N2.3bn.

The beneficiaries will include former Presidents Olusegun Obasanjo, Goodluck Jonathan and Muhammadu Buhari; ex-military Heads of State, Ibrahim Babangida, Abdulsalami Abubakar and Yakubu Gowon; and former Vice-Presidents Atiku Abubakar and Namadi Sambo, among others.

The PUNCH had reported on Sunday that the final pay in office for Buhari and ex-Vice President Yemi Osinbajo, state governors and other political appointees might cost the country about N64.72bn.

The figure also covered the pay for ministers, commissioners, National Assembly members, and special advisers.


It, however, did not include special assistants and state Assembly members.

The allocations by the Revenue Mobilisation and Fiscal Allocation Commission for salaries and allowances for one month, as well as severance gratuity (300 per cent of basic salary), were analysed to arrive at the figures.

Every government transition begins with a week of gràgrà where the new helmsman tries to assert their power by making definitive executive decisions. The week of gràgrà is when new leaders dis-anchor from the old. This phase, where the cliches of a “new beginning” are still being belted out, is where the newly enthroned must make a show of breaking with the past. That move is necessary because power transitions are not only political-legal affairs but also ethical.

Nigeria’s brand of politics demands that such demonstration of autonomy be ostentatious. Our zero-sum politics does not afford generosity in victory; one must also obliterate the defeated. To carry over from an outgoing leader is to inherit the ghosts of their rulership. In bygone empires, such housecleaning consists of dispatching with the abobakú, the king’s surrogate, whose death eliminates as many of the vestiges of the old rule as possible.

Our modern empires run by supposedly democrats are not essentially different. People get into power not merely through a competitive election but through shadow warfare too. Because elections are the means of calibrating the worth of political actors, they cannot but be a war. Even victory itself is the beginning of another war. The defeated must not be allowed to survive; they must be destroyed politically and morally. Otherwise, one would labour under the weight of their achievements. In our clime, to complete a project your predecessor started is to risk sneers that you are incapable of generating original ideas. To abandon such projects is to be criticised for wasting the resources already invested. One way to override the conundrum of taking on usually white elephant projects started by your predecessor (and burdened by bloated receipts) is to destroy the initiator itself.

In anticipation of this bile, some outgoing politicians sow disaffection for their successors by making a trailer load of appointments right before their exit. If the successor goes forward with the stuffed payroll, they could end up accommodating their predecessor’s loyalists along with any potential for mischief. If they reverse such appointments, they would be labelled as the evil person who took food away from people’s mouths.

In 2015 when former President Muhammadu Buhari got into office, his week of gràgrà comprised of sniffing into the sewers of comatose bureaucracies to dig out cases of corruption spectacular enough to make sensational headlines but which, when stripped to details, would not implicate those whose dirty money sponsored his ride to Aso Rock. Remember, that was the season the Economic and Financial Crimes Commission turned itself into a street dancer, entertaining us with astounding discoveries of money in unusual places. For all that gràgrà, what is the anti-corruption scorecard under Buhari?

I still clearly remember where I was in July 2015 when former-labour-activist-former-governor-turned-dissembler Adams Oshiomole claimed that on a trip to the USA, some officials informed them that a single minister stole $6bn under President Goodluck Jonathan’s watch. Even for a country where people routinely pull figures out of their derriere, that amount sounded improbable and outright nonsensical. But then, those kinds of stories do not need to be factual. They only need to be believed.

For the newly inaugurated government, the week of gràgrà started with the ongoing energy crisis fuelled by the uncertainty of what will become of the much-disputed subsidy. Buhari, ever an artful dodger of responsibility, left the problem for his successor to resolve (or not). Managing it will be difficult because it would also entail the question of how to properly narrate the failures of their predecessor in that regard. They will need to extricate themselves from Buhari’s baggage so they can start on a new note, and at the same time, the APC-APC transition must be seen as truly continuous.

They struggled with a similar conundrum during their electioneering. To carve themselves in the electoral campaigns as different from the All Progressives Congress government was to be disingenuous, risk the ire of Buhari and his loyalists, and damage themselves from the outset. To present themselves as continuous with Buhari was to own his failures. It was—and still is—a tenuous balance for Tinubu. Given the support that Buhari offered him, how does his administration move on from Buhari and his unwise decisions without starting itself on a sour note? I will not be surprised if Tinubu absorbs the failures of his predecessor on the fuel subsidy issue and suspends the implementation indefinitely.

Purging Buhari’s ghosts from a Tinubu’s Aso Rock will be hard. Unlike 2015 when there was an “enemy” against whom Buhari could establish its anti-corruption bona fides, the 2023 transition was between old friends. After eight years of Buhari, I am not sure even their own party loyalists want to ever hear them moaning about “16 years of the PDP!” again forever. They must find another excuse that will resonate. Unfortunately, Buhari is already ahead of them on that. When Tinubu went to present his Certificate of Return to Buhari in Daura in March, one of the things that man said was that his achievements in office galvanised Tinubu’s victory (a claim also repeated by Buhari’s minister, Tunde Fashola). Buhari was not delusional; he put his successor in a moral bind.

Mind you, Nigerians are not unaware of the degree of the damages done to the polity—they bear the worst part of it, after all—but the Tinubu administration will never be able to speak fully of the degree to which Nigeria was denuded in the last eight years. If they find outrageous instances of misappropriated public funds, they cannot rush to the press. They can hardly afford to shatter whatever is left of the man’s myth, especially since they spent the past few weeks singing his praises. The week of gràgrà, where a new leader gets to reel out a list of their predecessor’s sins, is where Tinubu refurbishes Buhari’s worthless legacy.

Unlike 2015, it will be too imprudent of them to regale us with stories of finding secret stashes of money in graveyards or water tanks. Such strategies will fail because Buhari not only used those tricks until they became trite, but it would be outrightly laughable for an administration headed by a Tinubu to pretend it has any moral ground to stand on to challenge corruption. From the look of things, we might even be spared the tiring vulgarity of the EFCC crashing into homes at midnight to arrest people. Anything that goes wrong with the economy or security cannot be glibly blamed on the past leadership. Buhari has managed to seize the narrative by reporting his failures as successes, getting his successor to assent, and linking the life of his administration to theirs. They accepted the “past perfect” he chronicled for them; when the present tenses, it could only be because of their (un)doing.

One day, Buhari’s biographers will claim that he bequeathed the country with a parting gift of Nigeria Air. And if by this time next year, that single plane they launched last week is not yet crisscrossing the skies, those who let him get away with the farce will own the failure.

If the transition had happened between two different parties, Tinubu’s camp would have had a jolly good time refuting Buhari’s legacy. Now they are stuck with promoting Buhari’s phony achievements, mopping up his messes, and propping up his empty achievements. Looking at it now, you realise that Buhari might have been a clueless buffoon for eight years, but he knew what he was doing when he supported Tinubu. The Tinubu team of propagandists who used the tools of their trade to finish off Jonathan in 2015 presently stands down on Buhari’s matter. The best the boldest among them can do with their fanged tongues is to speak here and there.

Last modified on Thursday, 01 June 2023 05:46