With the right interventions by the Federal Government, the pump price of petrol produced by the Dangote Petroleum Refinery may crash below N600/litre, crude oil refiners have said.

The Publicity Secretary of the Crude Oil Refiners Association of Nigeria, Eche Idoko, told Sunday PUNCH in an interview that the association still has a strong belief that local refineries like Dangote and others can bring down the cost of petrol.

Idoko said the N898/litre claimed by the Nigerian National Petroleum Company Limited as the price it bought petrol from Dangote reflected the rising exchange rate.

He explained that the N898 would drop to N550 if the exchange rate is pegged at N1,000/$ for locally-produced petroleum products. 

According to him, the PMS being sold by the Dangote refinery since last week Sunday was produced from imported crude and the ones bought locally in dollars.

“If you remember, we did say that if we begin to refine locally and there is a naira sale, the price of PMS will drop. We still stand strongly by that position. This particular batch of product that is being sold by Dangote, the crude was purchased in June at the international price.

“NNPC supplied 60 per cent of that crude and the remaining percentage was imported by Dangote at the international price. Now, when they refine that product, they have to sell at the international price because they are a business, they have to make money,” he said.

Even at N898, Idoko emphasised that the NNPC is buying at 300 below the usual landing cost of almost N1,200/litre.

“The pricing that you are seeing now is a reflection of what the international price is, less the cost of freighting. If you look at it now, NNPC was buying the product at N300 less; they’re paying N300 more for the product they were importing than what they are buying from Dangote at N889.

“That N300/litre was what I had mentioned before that local refining would take care of, even without any intervention,” he noted.

The CORAN spokesman added that the naira crude sale would automatically free up about 40 per cent of the nation’s foreign exchange which he said had gone into servicing the importation of petroleum products.

“If the financial sector is sincere, we should see an immediate climb by the naira against the dollar. And if the naira climbs against the dollar, without even the government pegging the price of the exchange rate for dollars in the pricing of that group, we will see a reduction in the price automatically,” he stated.

To crash the price of Dangote petrol significantly, Idoko advised the Federal Government committee working on crude sales to local refineries to sell the feedstock in naira at a discount and peg the exchange rate at about N1,000 to a dollar.

“But because we are not completely in touch with what happens in the financial sector, we have said to the government – two things you will do. You will sell in naira at a discount, and then at that discount, you will peg the price at a particular exchange rate to the dollar.

“For instance, you can say, you are using N1,000 as an exchange rate for this dollar deal, for the locally refined petroleum products. And like that, you will see a significant drop in the price,” he stated.

He noted that the special committee had gone back and was still working.

“So, whatever is happening now is outside whatever is being discussed by the government. And there is a whole lot of politics here and there. Some people are afraid that this would make Dangote become a monopoly. Dangote now is a member of our association and will play by the rules of our association. We would also control the chances of monopoly to start with. Then the NMDPRA is there as a major gatekeeper to control any form of monopoly.

“There are two more things I will say, rather than see what is happening as a minus, NNPC should be thanking the local players for coming in to rescue them. The NNPC should see Dangote and the other private players that have come in as a partner and work with them to solve this issue.  Let us all work together and not try to gaslight the public against the other person,” he said.

Idoko condemned the imposition of levies and taxes on the PMS price by the Nigerian Midstream and Downstream Petroleum Regulatory Authority as reflected in the estimated prices released by the NNPC.

“In this price alone, about 25-30 per cent of that money goes to the government in levies. In that breakdown, you see that this money goes to taxes and levies from NMDPRA and other organisations. At a time when Nigerians are groaning, you reconsider these fees. When people’s purchasing power has been enhanced, then you can improve this. It happens all over the world, even in the United  States. they give tax cuts every day,” he emphasised.

The refiner spoke further, “As it is right now, this pricing you see is a reflection of what the price will look like if there is no intervention at all, because of how the naira is doing and because of what crude is doing in the international market. But if the government intervenes by way of naira sales and pegging the dollar exchange rate for crude transactions at a reasonably low rate, you will see an improvement. This is different from paying money as a subsidy. You are only just putting mechanisms in place to ensure the product is cheap.”

Going mathematical, he analysed the breakdown of the estimated price released by the NNPC.

According to him, a litre of Dangote PMS is $0.52, which translates to N842.61 when calculated at an exchange rate of N1,637 to a dollar.  He said this would have been N520 if the exchange rate was pegged at N1,000 to $1.

“The premium is $0.03, which should be N30 if the exchange rate is N1,000. The two will give you N550/litre as the gantry price. If the government removes levies and taxes, the product will be below N600, especially if the crude is sold at a discount.” he stated.

Asked if he is certain that the government can cap the dollar rate at N1,000, Idoko retorted, “For this intervention, yes.  The crude belongs to the people now, and it’s NNPC’s crude. NNPC can give the crude for local refining at $1,000. You refine, the NNPC collects everything and stores it. The NNPC needs a strategic storage arrangement. We have depots in almost all the states in Nigeria. Load those depots with PMS for the rainy day.

“Right now, people don’t have the purchasing power. With the intervention, we can keep the price under N600, maintaining this N1,000 as the dollar benchmark for 36 months, after which we will review and go higher. What you are using to buy these things now are purely internal funds. You are not sourcing for dollars or anything; it’s Nigeria to Nigeria. The crude is your own. The currency you are receiving is your own.”

On Monday, NNPC announced that it would sell the petrol lifted from the Dangote refinery at a price above N1,000/litre in the far north.

Its spokesperson, Olufemi Soneye, disclosed this in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’.

Soneye explained that the price may go for as high as N1,019/litre in Borno State and N999.22 in Abuja, Sokoto, Kano, and others.

In Oyo, Rivers, and other areas in the South, it will be N960/litre. The lowest price, according to an infographic released by the NNPC, is N950 in Lagos and its environs.

Recall that the Dangote Group had disagreed with NNPC last week Sunday on the N898/litre PMS cost announced by NNPC as the price at which Dangote sold the product.

The Group Chief Branding and Communications Officer, Anthony Chiejina, said the claim that Dangote refinery sold PMS at N898/litre to the NNPC was misleading and mischievous, saying it was deliberately aimed at undermining the milestone achievement towards addressing energy insufficiency and insecurity, which has bedeviled the economy in the past 50 years.

“We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars,” Chiejina noted.

He added that the PMS was sold to the NNPC in dollars with a lot of savings against what the company had been importing.

The Peoples Democratic Party (PDP) in Imo State has rubbished the conduct of today’s Local Government election in the state, alleging irregularities.

The party claimed that the election was a premeditated deceit, asserting that the Imo Council poll were done in the premises of hotels and the offices of the Sole Administrators of the 27 local government areas.

Addressing journalists in Owerri, the state capital, the state’s PDP chairman, Austine Nwachukwu, said: “We have today witnessed the murder of democracy. The purported local government elections in Imo State today, September 21, 2024, is nothing but a show of shame, an organized fraud, and an unprecedented rape of democracy.

“We can boldly tell that there was no election anywhere in the State today. As of 4 pm on a supposed election day, Imo people witnessed with grief the absence of sensitive and non-sensitive electoral materials at virtually all the polling units across the entire State, even as electoral officers were not sighted anywhere near voting centers.

“Frustrated and disappointed, voters who had waited so long to cast their ballots to no avail retired to their respective homes. In a rather shocking development, the Imo State Independent Electoral Commission (ISIEC) instead delivered the sensitive electoral materials to APC leaders and cronies at various LGAs.

“Recall that four days ago, the PDP in Imo State had raised alarm over a plot by the APC administration to rig the election, with ISIEC criminally flouting the electoral act and its own guidelines.”

It is worth noting that until today, the day of the election, the ISIEC failed to disclose the names of the candidates for the election, nor did the commission make the voter register available at the polling stations as mandated by the law.

There was no dialogue or gathering with political parties, candidates, and other interested parties concerning the election. This represents the pinnacle of their illegality.

“Also, just a day before the election, no one knew who the ISIEC electoral officers were and how the ad-hoc staff were selected. The commission never advertised applications for its ad-hoc roles. This is dubious and undemocratic. The anti-people manner in which the Hope Uzodimma administration has gone about the local government elections is clear proof that the government has totally failed the people and performed abysmally in all aspects of governance. If not why are they scared of the ballot? A government in touch with the people will not be scared of them. They are a disgrace to democratic governance,” Nwachukwu said.

Toyosi Adesanya, the actress famous in the Yoruba film industry, has opened up about her struggle with pregnancy losses and infertility.

The actress, in an interview with Talk To B, disclosed that her challenges began in 2007 when she lost her first pregnancy shortly after her wedding.

The film star recalled having a disturbing dream where she saw blood, which turned out to be a reality when she woke up. Her then-husband attributed the loss to stress.

Determined to conceive again, Adesanya said she sought help from a traditional healer in 2008, courtesy of her colleague Fathia Balogun. Unfortunately, she lost her second pregnancy.

Undeterred, the actress said she underwent laparoscopy and two failed IVF attempts in 2009 and 2011. She narrated how she sold her valuables to afford the procedures, which cost N900,000 – N1 million at the time.

“I got married in 2007 and I was already pregnant during our wedding ceremony,” she said.

“Two months after we travelled back to Akure where my husband stays, I saw blood in my dream and also when I woke up. I told my husband (now ex), and he said I might have lost the pregnancy due to stress.

“Meanwhile, I have not gone to any location, the one I had to go to was till December 2007 and I already lost the pregnancy in September 2007.

“In 2008, Fathia Balogun encouraged me to try for pregnancy again and introduced me to a woman.

“I went to the woman, she gave me some herbal medications and I got pregnant again. After a while, I lost the pregnancy.

“Then, I went to do laparoscopy and that is how I started the journey of trying to give birth.

“In 2009, I tried IVF but it failed. Then IVF cost N900,000 to N1 million so I sold all I owned, including my gold, to do the IVF but it failed.

“I tried IVF again in 2011 and that failed as well so I stopped and started waiting on God.”

Adesanya said she became pregnant again in 2019 but faced a threatened abortion.

The actress said her doctor advised her to terminate the pregnancy. She said this was after a disturbing dream where people with knives threatened to abort her pregnancy.

“… In January 2019, I got pregnant again but I did not tell my husband (now ex). Then I had a dream where some people with knives were saying they would abort my pregnancy,” she added.

“So, I called my pastor. He prayed for me and told me to leave the house I was staying in Akure.

“Then someone introduced me to a doctor in Lagos. When I got to the doctor, he confirmed I was pregnant but told me I had threatened abortion.

“He admitted me for two days but later advised me to evacuate the pregnancy.

“…After leaving my husband due to our marital issues, I got into a new relationship. And in 2022, I got pregnant again but lost it. After that, my doctor advised me so for now, I have forgone pregnancy.”

Adesanya delved into the Yoruba film industry over thirty years ago.

She has starred in films like ‘Alagogo Ide’, ‘Oru’, ‘Iwo’ and ‘Adeda’. She has also been recognised for her talent

The All Progressives Congress (APC) claims it is “comfortably in an early lead” in the collation of results for the Edo governorship election.

In a statement on Saturday, Felix Morka, APC spokesperson, urged voters in Edo to disregard “bogus and highly speculative” election results in circulation.

Morka said certain political parties are peddling “bogus figures” of the results of the governorship election.

“We urge the Edo state electorate and the general public to disregard these bogus and highly speculative reports,” he said.

“Our great Party wishes to clarify that collation at the Ward level is still ongoing and has yet to be concluded.

“Certainly, Local Government level collation has yet to begin in most of the LGAs in the state let alone concluded.

“Consistent with the Electoral Act, the Independent National Electoral Commission (INEC) is the sole authorised body empowered to collate results at the Ward, Local Government and State levels, and to officially declare the result of the Election.”

At the moment, collation of election results is currently going on at the ward and LGA levels.

As of 9:55pm on Saturday, the Independent National Electoral Commission (INEC) has uploaded 95.40 percent results from 4,519 polling units in the state on the viewing portal (IReV).

Daniel Dubois, the British professional boxer, has defeated Anthony Joshua, the two-time world champion, with a fifth-round knockout to retain his IBF world heavyweight boxing title.

The 27-year-old demolished his fellow Briton at a packed Wembley Stadium in the United Kingdom on Saturday night.

It was a nightmare outing for Joshua, 34, as Dubois floored the former heavyweight champion thrice in the first three rounds before eventually finishing him off after 59 seconds in the fifth round.

Dubois inflicted a fourth professional defeat on Joshua in front of 96,000 fans — the biggest crowd ever for a boxing event at the Wembley Stadium.

“I’ve only got a few words to say: Are you not entertained?” Dubois asked the crowd after earning the biggest win of his career.

“I’m a gladiator, I’m a warrior to the bitter end. I want to get to the top level of this game and reach my full potential.

“I’ve been on a rollercoaster ride. This is my time, this is my redemption story, and I’m not going to stop until I reach my full potential.”

When asked what went wrong, Joshua said: “Credit to him and his team. We rolled the dice at success and we came up short”.

“You know I’m pissed. You know I’m ready to kick up in the ring, but I’m going to keep my cool and keep very professional and give the respect to my opponent.”

Joshua was in a position to secure a possible fight against the winner of the December 21 fight between Oleksandr Usyk and Tyson Fury.

Dubois, 27, will now get that shot after improving to 21-3

Olivia Ijeoma Chukwuemeka, the Abuja hotel victim, has recounted her harrowing experience in the hands of Joseph Efe, a suspected ritualist.

A viral video recently circulated on social media showed Olivia bound and undressed. In the footage, the suspect is seen unwrapping the victim, who is already partially covered in cellophane.

The Nigeria Security and Civil Defence Corps (NSCDC) FCT command announced Efe’s arrest on Friday.

While parading Efe, the NSCDC revealed that the 30-year-old suspect specialises in luring women through a dating site known as ‘Coded Runs’ to rob them of their valuables.

During his confession, Efe admitted to meeting Chukwuemeka through the site before inviting her to the hotel.

Narrating her ordeal, Olivia said she resides in Enugu but frequently visits Abuja for “business” — although she did not state the nature of it.

“I met the suspect some months ago. I live in Enugu but visit Abuja for other business reasons,” she said.

She detailed how Efe allegedly assaulted her when she tried to resist.

“He said if I cooperate with him he will not hurt me like other girls. He said his friend was outside and if I made any wrong move, he injected me with something,” she said.

“I pleaded with him, he slapped me and asked me to strip my clothes. I tried to get to the door but it was locked by him and he held the keys.”

“He used my dress to tie my hands, but when it wasn’t tight enough, he switched to cellophane tape. He then turned up the television volume and gagged me with a handkerchief.”

She claimed Efe stole her phone and forced her to unlock it using her thumbprint before demanding her bank details.

She alleged that when he discovered her account was empty, he threatened her to stay silent and left the room.

She added that she alerted the hotel staff member after some time who she led to the direction where Efe had gone.

“I struggled and dragged myself to the window and banged it hard. Luckily, the guy heard me and I made a sign pointing in the direction the suspect went,” she added.

Meanwhile, the FCT Police Command has since requested the NSCDC to hand over Efe for further investigation.

A coalition of Civil Society Organisations (CSOs), the Nigeria Civil Society Situation Room (NCSSR), has observed voter inducement at polling units (PUs) in the September 21 governorship election in Edo State.

“Situation Room observers reported widespread instances of blatant vote buying and selling across several polling units, despite the huge presence of security personnel,” the group said in a statement on Saturday afternoon.

The statement was co-signed by Yunusa Z. Ya’u, Mimidoo Achakpa and Franklin Oloniju.

“The price of votes ranged from ₦5,000 to ₦10,000 per voter in several locations, including PU08 and 09 Ward 2, Owan-East LGA; PU 02 Ward 2, Etsako-West LGA; and several polling units in Egor, Oredo and Owan-West LGAs.

“In some cases, voters were also induced with food items such as bread,” the group said.

The group, however, acknowledged the arrest of the alleged two vote traders in George Idah Primary School, Ward 2, Oredo Local Government Area.

The Situation Room commended the peaceful conduct of voters and urged them to remain calm throughout the process.

The Situation Room is made up of Civil Society Organisations (CSOs) including Policy and Legal Advocacy Centre (PLAC), CLEEN Foundation, Action Aid Nigeria, Centre for Information Technology and Development (CITAD), Centre for Democracy and Development (CDD-West Africa), YIAGA Africa, are TAF Africa.

Others are Emma Ezeazu Centre for Good Governance and Accountability (formerly Alliance for Credible Elections, Rule of Law and Accountability Advocacy Centre (RULAAC), Kimpact Development Initiative, Democratic Action Group (DAG), Women’s Rights to Education Programme, Joint National Association of Persons with Disability (JONAPWD), DIG Ebonyi, New Initiative for Social Development (NISD), Life And Peace Development Organization (LAPDO), Rural Youth Initiative, Challenged Parenthood Initiative (CPI), Centre for Health and Development in Africa (CHEDA) and Josemaria Escriva Foundation.

The Executive Director of YIAGA Africa, Samson Itodo, says low voters did not turn out for the Edo State governorship election that held on Saturday.

He stated this in Benin City during an interview on Channels Television as the results started trickling in after the conduct of the off-cycle poll.

He described the situation as sad and disappointing, noting that most young people appear on the ballot.

“Majority of those who are actually on the ballot are young people, and it is just sad to see that there are not too many young people that showed up to cast their vote,” he said.

“If they did, perhaps we would have recorded higher turnout levels. You go to a polling unit of about 1,700 voters, you will see just a hundred or 200.”

Earlier, Yiaga Africa said its agents observed incidences of vote buying and polling unit disruption during Saturday’s governorship election in Edo State.

The group in a statement said it deployed 300 stationary and 25 roving agents to observe a representative sample of polling units across all 18 LGAs in Edo.

It noted that the observers were monitoring the results collation process at the LGA and state levels.

“Yiaga Africa observers reported incidents of vote buying in Ikpoba/Okha, Igueben, Esan West, Akoko Edo, Owan West and Uhunmode LGAs. APC and PDP party agents were seen bribing voters with cash (N10,000) at the Igueben – Idumoka Pri School polling unit (12-10-03-004) Ward 1 in Igueben LGA,” the statement read.

“Party agents for APC and PDP were also seen handing out cash (N10,000) in Enikaro – Enikaro Primary School IX Polling Unit (12-11-07-009) in Ugbekun ward, Ikpoba/Okha LGA.

“Voters halted the accreditation and voting process in the Ikpoba—Army Children XI polling unit (12-11-01-011) in Iwogban/Uteh Ward, Ikpoba/Okha LGA because INEC officials arrived without the official stamp.

“At Ebua Market Square in Uhunwode LGA, an altercation between APC and PDP supporters over alleged bribery led to the suspension of voting and the destruction of the voting cubicle. Political thugs also disrupted voting at Anyaran Araromi Primary School in Akoko Edo LGA.”

Edo residents went to the polls on Saturday to elect who govern them for the next four years.

There are 17 candidates in the race for the Edo governorship seat, comprising 16 men and one woman.

Among the leading candidates are Olumide Akpata of the Labour Party (LP), Asue Ighodalo of the Peoples Democratic Party (PDP), and Monday Okpebholo of the All Progressives Congress (APC).

The Independent National Electoral Commission (INEC) said 2,629,025 voters registered to cast their ballot.

Yiaga Africa has reported that the ongoing off-cycle governorship election in Edo State experienced instances of vote buying.

Their Process and Results Verification for Transparency (PRVT) methodology and Watching the Vote (WTV) initiative indicated that some voters were offered N10,000.

This is contained in the mid-day election statement on the 2024 Edo State Governorship Election presented on Friday by Dr. Aisha Abdullahi and Samson Itodo, Chair of the 2024 Edo Election Mission and Executive Director, of Yiaga Africa respectively as well as other board members including Prof. Nnamdi Aduba, Ezenwa Nwagwu, Cynthia Mbamalu and Dr. Asmau Maikudi.

“Observers reported incidents of vote buying in Ikpoba/Okha, Igueben, Esan West, Akoko Edo, Owan West and Uhunmode LGAs. APC and PDP party agents were seen bribing voters with cash (N10,000) at the Igueben-Idumoka Primary School polling unit (12-10-03-004) Ward 1 in Igueben LGA.

“Party agents for APC and PDP were also seen handing out cash gifts (N10,000) in Enikaro- Enikaro Primary School IX Polling Unit (12-11-07-009) in Ugbekun ward, Ikpoba/Okha LGA,” the statement said.

The Yiaga Africa commended the Economic and Financial Crimes Commission (EFCC) and security agencies for their swift action in arresting suspected vote-buyers at polling units in Egor and Oredo LGAs.

The statement said that as of 1:40 pm, the Yiaga Africa WTV Data Centre received 16 verified critical incident reports primarily relating to the late opening of polls; four PUs that failed to open as reported in two PUs in Egor, one in Esan South East, and one in Etsako West.

It also listed delayed commencement of voting due to BVAS Malfunction in Ayogwiri Town Hall, Ayogwiri PU, of Uzairure South East ward in Etsako West LGA, adding that as of 1pm, voting had not commenced in the PU.

On disruption of voting, the statement said that voters halted the accreditation and voting process in the Ikpoba -Army Children XI polling unit (12-11-01-011) in Iwogban/Uteh Ward, Ikpoba/Okha LGA because INEC officials arrived without the official stamp.

While at Ebua Market Square in Uhunwode LGA, an altercation between APC and PDP supporters over alleged bribery led to the suspension of voting and the destruction of the voting cubicle, political thugs disrupted voting at Anyaran Araromi Primary School in Akoko Edo LGA.

The statement among other recommendations urged security agencies to enhance their presence in PUs and wards where delays occurred due to the late arrival of INEC officials to prevent political thugs from exploiting the situation to compromise the process, especially if the process extends into the night.

An attempt by a 59-year-old man to commit suicide on the Third Mainland Bridge has been foiled by the Rapid Response Squad (RRS) of the Lagos State Police Command has foiled

The spokesperson of the command, SP Benjamin Hundeyin, who disclosed this in a statement said the man identified simply as Yemi, attempted to jump into the lagoon from the bridge on Friday, September 20, 2024.

According to the PPRO, the man said he was overwhelmed by challenges.

“At about 1200hrs today, Rapid Response Squad (RRS) bike riders on routine patrol on the Third Mainland Bridge prevented a man from jumping into the lagoon. The man, one Yemi, aged 59 of Ilasa, Lagos stated that he was overwhelmed by challenges,” the PPRO stated.

“Commander RRS, CSP Shola Jejeloye has counselled the suspect and has directed he be kept in protective custody pending the arrival of his family members.”