AFOLABI

AFOLABI

Billionaire business mogul, Femi Otedola, has sent an important message to oil importers in the country.
 
He urged them to dismantle their depots and sell them as scrap.
 
 
Otedola said this following the announcement earlier on Tuesday that Dangote Refinery is now fully ready to churn out petroleum products, including the Premium Motor Spirit also known as petrol across the country.
 
Recall that the President of Dangote Refinery, Aliko Dangote, on Tuesday announced the rollout of Petrol from his 650,000 barrels per day.
 
He had in an earlier report said that the Petrol from the refinery will be available in the Nigerian market in 48 hours depending on the Nigerian National Petroleum Company Limited.
 
Otedola, in a post on X, said the development has practically put an end to the business of fuel importers in the country.
 
“..You have not just built a refinery; you have liberated us from the chains of economic dependence that have held this nation back for far too long,” he wrote.
 
“Now, with your refinery in full swing…the depot owners should take heed—it’s time to dismantle those depots and sell them as scrap while the market is still high.
 
“The world has changed, and those who do not adapt will be left behind.”

Women in Edo State have called on the former National Chairman of the All Progressives Congress (APC), Senator Adams Oshiomhole, to issue a public apology for allegedly making derogatory remarks about Dr. Betsy Obaseki, the wife of the Edo State Governor, Godwin Obaseki.

Naija News understands that Oshiomhole in a trending video, had reportedly referred to Dr. Obaseki as childless.

The protest, led by the Deputy Speaker of the Edo State House of Assembly, Maria Edeko, took place in Benin on Thursday.

During the protest, the women expressed their outrage, condemning the senator’s remarks and emphasizing that such statements are offensive and disrespectful, especially towards women facing fertility challenges.

The protesters demanded that Oshiomhole retract his comments and offer a formal apology to the Obaseki family.

According to the demonstrators, childlessness should not be used as a weapon in political discourse, and they urged for more sensitivity and respect in political engagements.

Edeko said, “It is sad to see a person (Oshiomhole) who has once governed the state, condescend to such a level. It is a taboo, a sacrilege and a desecration of Edo land to mock a woman or a couple for not bearing a child. Those who mock others for not having children yet could be described as one of the most ungrateful persons on earth.

“We rise as women of Edo State, home and abroad, to denounce the shameful conduct of Oshiomhole. We call on all women and couples that have gone through the pain of not bearing a child on time or not having a child at all, to express displeasure over the pathetic development.”

The Presidency has said at no time did President Bola Tinubu promise the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) that his administration would not increase the pump price of fuel.

The Senior Special Assistant to the President on Print Media, Abdulaziz Abdulaziz, said this on Tuesday, in reaction to organized labour’s outcry that workers have been betrayed.

 

Recall that the NLC President, Joe Ajaero, demanded an immediate reversal of the adjusted fuel price increase by Tinubu’s government.

Ajaero said Labour accepted the ₦70,000 minimum wage because the President promised there would not be an increase in fuel price.

Labour had in the build-up to the minimum wage negotiation, held onto ₦250,000 to be the minimum wage.

We are filled with a deep sense of betrayal as the federal government clandestinely increases the pump price of PMS. One of the reasons for accepting N70,000 as national minimum wage was the understanding that the pump price of PMS would not be increased even as we knew that N70,000 was not sufficient.

“We recall vividly when Mr President gave us the devil’s alternatives to choose from: either N250,000 as minimum wage (subject to the rise of the pump price between N1,500 and N2,000) and N70,000 (at old pms rates), we opted for the latter because we could not bring ourselves to accept further punishment on Nigerians,” Labour said, in a statement, on Tuesday.

Abdulaziz, in response, accused Ajaero and Labour of playing dirty politics and deceiving Nigerians. He stated that the two meetings Tinubu had with Labour had no discussion concerning fuel price increases in exchange for minimum wage.

“I sat through the two meetings President Bola Tinubu had with Labour leaders on minimum wage. At neither of the meetings was an offer made in exchange of fuel price hike. Ajaero is once again playing his dirty politics with the emotions of Nigerians,” Abdulaziz wrote on his X handle.

The Federal High Court in Abuja has issued arrest warrants for British citizen Andrew Wynne and two Nigerians, Lucky Obiyan and Abdullahi Musa, following allegations of plotting an insurrection against Nigeria.

Naija News had earlier reported that the police declared Wynne and his Nigerian collaborator, Lucky Obiyan, wanted for allegedly plotting to overthrow President Bola Tinubu’s administration and placed a 20 million naira bounty on them.

The arrest order was made on Tuesday by Justice Emeka Nwite in response to an ex-parte application filed by the police.

Andrew Wynne, also known by the aliases Andrew Povich and Drew Povey, along with the two Nigerians, has become a key target in the Nigerian government’s intensified crackdown on activists associated with the #EndBadGovernance protests.

The administration of President Bola Tinubu has been actively pursuing those linked to these protests.

In a statement released on Monday, police spokesperson Olumuyiwa Adejobi accused Wynne of organizing “a network of sleeper cells” with the intent to destabilize the Tinubu administration and create nationwide chaos.

Adejobi revealed that Wynne, who has since fled the country, had rented a space at Labour House in Abuja under the guise of running an “Iva Valley Bookshop” and establishing “STARS of Nations Schools,” which the police allege were covers for subversive activities.

On the same day, the government arraigned 10 Nigerians who participated in the #EndBadGovernance protests in various states, including Abuja, Kano, and Kaduna.

These individuals are charged with collaborating with the 70-year-old Briton to destabilize Nigeria.

The charges also include accusations of calling for the military to overthrow President Bola Ahmed Tinubu’s government and conspiring with Wynne to wage war against the Nigerian state.

Justice Nwite ordered the remand of the 10 defendants until September 11, when a ruling on their bail applications will be delivered.

This comes after an earlier ruling on August 22, where the court ordered the detention of 75 protesters, including 28 minors, for two months while awaiting police investigations into alleged terrorism-related offenses.

During Tuesday’s hearing, police lawyer Audu Garba moved the ex-parte application for Wynne’s arrest. Garba argued that the court’s order was necessary to allow all law enforcement agencies in Nigeria to lawfully arrest the defendants, who are currently on the run.

He stated that the charges against them include conspiracy, treason, incitement to mutiny, and acts of terrorism, as outlined under sections 97, 410, 413, 416, and 412 of the Penal Code, Northern States Federal Provisions Act CAP P3 LFN 2004.

The affidavit supporting the ex-parte application reiterated many of the claims made against the 10 protesters and highlighted allegations that the fleeing defendants were responsible for planning and executing attacks on several government facilities in Kano State, including the High Court Complex, the Nigerian Communications Commission office, and a printing press.

Justice Nwite found the application to be meritorious and granted the police’s request, thereby authorizing the nationwide arrest of Wynne, Obiyan, and Musa.

The Nigeria Employers Consultative Association, NECA, has criticised the recent hike in the pump price of Premium Motor Spirit, PMS (petrol), by the Nigerian National Petroleum Company Limited, NNPCL.

This is as NECA described the situation as Nigerians paying for the inefficiency of NNPCL.

The Director General of NECA, Adewale-Smatt Oyerinde, said this in a statement on Tuesday in Abuja, responding to the new pump price of PMS.

 

NNPCL Retail outlets hiked the pump price of fuel to N855 per litre.

Consequently, Oyerinde said the increase is not only worrisome but also unfair.

He said: “We had expected that the government would leverage on the momentum created by the completion of the Dangote refinery and the planned commencement of operation of the Port-Harcourt refinery.

“This is to clear the obvious self-inflicted pain on Nigerians and progressively reduce the pump price of petrol. This seems not to be the case.

“This new pump price could be seen as making Nigerians pay for the crass inefficiency in the NNPCL.”

He further remarked that, rather than tackling the fundamental issues that have caused Nigeria to remain a net importer of petrol despite having four refineries, the government has continued to impose hardships on Nigerians.

He further noted that the government’s actions are inadvertently contributing to the increasing cost of doing business.

He advised the government to reconsider its approach and take all necessary measures to address the ongoing impoverishment of Nigerians and the weakening of organised businesses.

The development comes as Dangote Refinery officially announced the first rollout of Premium Motor Spirit (petrol).

The President of Dangote Group, Aliko Dangote, had stated that the refinery’s petrol price would be fixed by the Federal Executive Council.

Presidential aide, Bayo Onanuga, says the Nigerian National Petroleum Company Limited (NNPCL) Limited admitted to having financial constraints because it can no longer subsidise petrol.

Onanugu, the Special Adviser on Information and Strategy to President Bola Tinubu, disclosed this in a post on X on Tuesday.

He said if the NNPCL continues to pay the difference between the landing cost and petrol price, the national oil company will go bankrupt.

Onanuga said NNPC’s debt was a result of the company’s efforts to absorb rising petrol costs and protect Nigerian consumers, rather than any government deception.

“NNPC cried out recently because it can no longer sustain the price differential on its balance sheet without becoming insolvent,” he said.

“The situation has greater implications for the ability of the three tiers of government to function as the NNPC has failed to pay into the Federation Account, the money that should go to the government.

“There are no easy choices. Something must be done to make NNPC survive, and keep the engines of government running and petrol flowing at the pumps.

“That is the scenario that is unfolding, and the game changer and big relief giver may well be the Dangote refinery and other local refineries, which will become the fuel suppliers to the local market.

“When Dangote Refinery and other refineries, including government-owned Port Harcourt Refinery, come fully on stream, our country and economy will benefit on all fronts. There will be many good paying jobs that will be created along the value chain.”

According to Onanuga, there will also be a drop in the huge demand for foreign exchange to import petroleum products.

Tinubu government did not lie about fuel subsidies


I have read a series of articles attacking the Federal Government for not telling the truth about fuel subsidy payments, following NNPC Limited’s admittance it was owing suppliers some $6 billion.

Earlier, the NNPCL increased the price of petrol to N855 per litre, but the landing cost of the Premium Motor Spirit (PMS) was around N1,200.

The Lagos State medical doctor, Idara Bassey, who was declared wanted in connection with the death of a 36-year-old woman during a buttock enlargement surgery at a clinic in Lekki Phase 1, is now in police custody, PUNCH Metro reports.

Our correspondent learnt from the state Police Public Relations Officer, Benjamin Hundeyin, on Tuesday, that Bassey is currently being investigated at the State Criminal Investigation Department in Panti.

Bassey had previously fled after Abiola died during a buttock enlargement procedure at her clinic on August 26, 2024.

The Brazilian Butt Lift is a cosmetic surgery procedure that involves removing fat from other parts of the body and injecting it into the buttocks to enhance their fullness and create a rounder shape.

Numerous medical experts have warned about the potential risks of the procedure, particularly following the death of a 31-year-old British woman, Melissa Kerr, during a similar surgery at the Medicana Kadikoy Hospital in Istanbul in 2019.

A BBC report in 2023 revealed that the deceased had not been given enough information to properly assess the risks of the BBL surgery before travelling to undergo the procedure.

Despite warnings about the risks of the enlargement procedure, more videos have surfaced online of women, especially in Lagos, claiming to have successfully undergone the surgery.

While the police confirmed to our correspondent that the nurse who administered the injection to the late 36-year-old had been arrested, the clinic’s owner became a suspect in the case, particularly following her disappearance.

PUNCH Metro reports that Abiola had visited the clinic for the buttock enlargement procedure, which tragically ended in her death after a nurse, allegedly acting under Bassey’s orders, administered an injection.

Earlier, she had left her home in the Diamond Estate, Sangotedo, in the Ibeju Lekki area and directed her driver to take her to the clinic for the procedure.

After the nurse allegedly administered the injection on the doctor’s instructions, the driver who brought Abiola to the clinic reported to the police that she had lost consciousness and began gasping for breath.

When contacted on Tuesday about the progress of the investigation, Hundeyin stated that the doctor is now with the SCID.

Asked whether Bassey would face charges and on what grounds, he said answers to these questions would be provided “after the investigation.”

The Nigeria National Petroleum Company Limited (NNPCL) has adjusted the petrol pump price at its filling stations to ₦897 per liter.

This is coming two days after the Nigeria-owned oil company cried out that its operations of solely importing refined petrol into the country have been hit by financial restraints.

 

With the recent surge in fuel prices to ₦897 per liter, fuel costs have skyrocketed by 460% over the past 15 months, marking a significant increase since President Bola Tinubu took office on May 29, 2023.

This latest adjustment is the 30th instance of a fuel price hike in the 51 years since General Yakubu Gowon’s initial increase in 1973, which saw the price rise from 6 kobo to 8.45 kobo.

 

Major Fuel Price Hikes in Nigeria

1. Shonekan (1993): From 70 kobo to ₦5 (614.29%)

2. Abacha II (1994): From ₦3.25 to ₦15 (361.54%)

3. Tinubu (2023): From ₦195 to ₦557 (282.74%)

4. Tinubu (2024): From ₦617 to ₦897 (145.38%)

5. Abubakar I (1998): From ₦11 to ₦25 (127.27%)

6. Buhari’s Term (2020): From ₦87 to ₦195 (124%)

7. Jonathan I (2012): From ₦65 to ₦141 (116.92%)

8. Tinubu (2023): From ₦557 to ₦617 (110.77%)

 

Timeline of Fuel Price Adjustments in Nigeria

 

– Gowon (1973): From 6 kobo to 8.45 kobo (40.83%)

– Murtala (1976): From 8.45 kobo to 9 kobo (6.5%)

– Obasanjo (1978): From 9 kobo to 15.3 kobo (70%)

– Shagari (1982): From 15.3 kobo to 20 kobo (30.72%)

– Babangida I (1986): From 20 kobo to 39.5 kobo (97.5%)

– Babangida II (1988): From 39.5 kobo to 42 kobo (6.33%)

– Babangida III (1989): From 42 kobo to 60 kobo (42.86%)

– Babangida IV (1991): From 60 kobo to 70 kobo (16.67%)

– Shonekan (1993): From 70 kobo to ₦5 (614.29%)

– Abacha I (1993): From ₦5 to ₦3.25 (price decreased by 35%)

– Abacha II (1994): From ₦3.25 to ₦15 (361.54%)

– Abacha III (1994): From ₦15 to ₦11 (price decreased by 26.67%)

– Abubakar I (1998): From ₦11 to ₦25 (127.27%)

– Abubakar II (1999): From ₦25 to ₦20 (price decreased by 25%)

– Obasanjo I (2000): From ₦20 to ₦30 (50%)

– Obasanjo II (2000): From ₦30 to ₦22 (price decreased by 26.67%)

– Obasanjo III (2002): From ₦22 to ₦26 (18.18%)

– Obasanjo IV (2003): From ₦26 to ₦42 (61.54%)

– Obasanjo V (2004): From ₦42 to ₦50 (19.05%)

– Obasanjo VI (2004): From ₦50 to ₦65 (30%)

– Obasanjo VII (2007): From ₦65 to ₦75 (15.39%)

– Yar’Adua (2007): From ₦75 to ₦65 (price decreased by 15.39%)

– Jonathan I (2012): From ₦65 to ₦141 (116.92%)

– Jonathan II (2012): From ₦141 to ₦97 (price decreased by 31.21%)

– Jonathan III (2015): From ₦97 to ₦87 (price decreased by 10.31%)

– Buhari (2016): From ₦87 to ₦145 (66.67%)

– Buhari’s Term (2020): From ₦87 to ₦195 (124%)

– Tinubu (2023): From ₦195 to ₦557 (282.74%)

– Tinubu (2023): From ₦557 to ₦617 (110.77%)

– Tinubu (2024): From ₦617 to ₦897 (145.38%)

Nigerians are expressing widespread frustration and concern as the price of petrol has surged to an unprecedented ₦855 per liter at Nigeria National Petroleum Company Limited (NNPCL) filling stations, particularly in Lagos.

This sharp increase has exacerbated the ongoing scarcity of the commodity, leaving citizens scrambling for fuel and struggling to cope with the rising cost of living.

 

The issue has sparked reactions across the country, with many taking to social media to voice their displeasure.

Notably, Nollywood actress and activist, Kate Henshaw, shared a video on her platform, lamenting that her driver discovered the new hike while attempting to purchase fuel.

She highlighted the sudden increase by over ₦200 per liter as particularly alarming.

This current crisis comes several years after the All Progressives Congress (APC), now the ruling party, had criticized the previous administration under President Goodluck Jonathan for setting petrol prices at ₦87 per liter.

Back in January 2015, the APC argued that the price of petrol should not exceed ₦70 per liter, accusing the then-government of exploiting Nigerians by forcing them to subsidize corruption in the oil sector.

The APC’s statement from 2015, released by Lai Mohammed, described the reduction of the petrol price from ₦97 to ₦87 as mere “tokenism” in light of the significant drop in global crude oil prices.

The party argued that even at ₦87 per liter, Nigerians were overpaying for petrol, subsidizing inefficiencies and corruption in the oil industry.

Now, nearly a decade later, the reality of petrol prices exceeding ₦800 per liter is causing widespread distress, with many citizens questioning the government’s handling of the oil sector and its impact on the economy.

APC at the time stated, “When crude oil was selling at 100 dollars per barrel, the landing cost of PMS without subsidy was 125 Naira per litre. Now that the oil price has crash to about 44 dollars per barrel, landing cost without subsidy is about 65 Naira per litre. The same goes for diesel which should not sell for more than 90 Naira per litre.

“While governments of countries which are not as economically endowed as Nigeria have reduced the pump price of fuel as far back as early January 2015, Nigeria that is the world’s sixth largest producer of oil is just announcing a price slash that is far below those countries.

“Early this year, Zambia slashed the price of petrol by 23 per cent while Tanzania reduced the pump price of the product by 16%. In the US, which until recently was importing crude oil from Nigeria, the price of fuel has fallen for 113 consecutive days as of January 16. Therefore, the 10.3% price slash in Nigeria is too meagre too late.”

Fast forward to 2024, petrol sells for over ₦1000 in some states currently due to scarcity.

 
 

The mother of late President Umaru Musa Yar’adua, Hajiya Dada, was laid to rest on Tuesday at the Danmarna Cemetery in Katsina amidst tears and solemnity. Her funeral prayer, led by Imam Aminu Yammawa, was conducted at the Yar’adua Quarters, just outside her residence, at approximately 1:30 pm in accordance with Islamic rites.

 

Several high-profile figures attended the burial, including Vice President Senator Kashim Shettima, former Vice President Alhaji Atiku Abubakar, and Labour Party Presidential Candidate in the 2023 General Elections, Mr. Peter Obi. Other dignitaries present were former Sokoto State Governor Aminu Waziri Tambuwal, Senator representing Bauchi Central Abdul Ningi, and other notable politicians, academicians, and business leaders.

 

Earlier in the day, Katsina State Governor Dikko Radda welcomed a delegation led by former Vice President Atiku Abubakar at the Katsina Government House, also known as General Muhammadu Buhari House. The delegation, which included former Sokoto State Governor Senator Aminu Waziri Tambuwal, Senator Abdul Ningi, Senator Umar Tsauri, and former Secretary to the Katsina State Government Alhaji Mustapha Inuwa, had arrived to pay their respects and attend the burial.

Hajiya Dada passed away on Monday evening after a brief illness. She was the mother of both late Shehu Musa Yar’adua and Senator Abdul Aziz Musa Yar’adua, who currently represents Katsina Central Constituency and serves as the Chairman of the Senate Committee on Army. The burial took place in the same cemetery where her husband, Musa Yar’adua, and her two deceased sons, Shehu Musa Yar’adua and President Umaru Musa Yar’adua, were also laid to rest.

Credit: Katsina State Government
Credit: Katsina State Government
Credit: Katsina State Government
Credit: Katsina State Government