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Petrol may hit N250/litre despite N4tr subsidy

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Petrol may hit N250/litre despite N4tr subsidy

The current scarcity of Premium Motor Spirit (PMS) across the country might worsen, pushing up pump price to N250 per litre, despite payment of over N4 trillion subsidy in the 2022 budget.

The Nigerian National Petroleum Company Limited (NNPC) – the sole importer of petrol – is reportedly without the product, as most of its stations, including the newly acquired Oando outlets, were empty yesterday.

Marketers adjusted their prices to N180 per litre against the official price of N165, with the Independent Petroleum Marketers Association of Nigeria (IPMAN) telling The Guardian that ex-depot price has moved to N190 per litre and that an upward review is imminent.

While both NNPC and the Nigerian Midstream Downstream Petroleum Regulatory Authority (NNPC) did not respond over the development, petrol stations in most northern states have already begun dispensing at N250 per litre.

Most marketers, who spoke to The Guardian, disclosed that the state oil firm has no products. At the NNPC fuel station around Ketampe in Abuja, only two pumps were dispensing. Motorists spent an average of four hours on queues. Others bought a litre at N500 from black marketers who sold in kegs.

In the Federal Capital Territory, some residents have begun spending the night in their cars at fuel stations, hopeful of the next day.

In Lokoja, Ajaokuta and the Anyigba area of Kogi State, the few stations that had fuel dispensed at N250 per litre. Most stations in Abuja were under lock. The few that dispensed, like Nipco at Jabi, NNPC at Ketampe and others, had long queues.

About three months ago, the Federal Government quietly approved increment in fuel prices, following claims by marketers that they could no longer sustain their operations by selling at the regulated price of N165 per litre.

Recall that the chairman of IPMAN (Western zone), Dele Tajudeen, last week, said there has been an increase in depot price from N148.7 per litre to N178.

A vice president of the association at the national level, Abubakar Shettima, also told The Guardian, yesterday, that the ex-depot price has moved to N190 per litre.

He disclosed that the N180 pump price would only apply to product that was stocked, stressing that the price would be adjusted to meet prevailing market realities.

In Abuja, a motorist, Ugbeda Ojogbane, said he spent about three hours on the queue before filling his tank at the NNPC station in Lugbe. “It is sad that we produce oil and have to go through this. The country is becoming difficult by the day,” he said.

Another, Sodiq, said he spent about four hours on the queue before buying petrol at Dutse Junction, along the Kubwa expressway in Abuja.

Some stakeholders alleged that NNPC is starving government-owned depots and keeping marketers from loading, while diverting products to some private depots.

The development is coming at a time ship owners, under the aegis of the Ship Owners Association of Nigeria (SOAN), are threatening to embark on strike in the coming week over N90 million debt owed by NNPC for charter services rendered in the last eight months.

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Africa

Customs hands over illicit drugs worth N117.59m to NDLEA

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Customs hands over illicit drugs worth N117.59m to NDLEA

The Nigeria Customs Service (NCS), Ogun Area 1 Command, has handed over illicit drugs worth N117.59 million to the National Drug Law Enforcement Agency (NDLEA).

The Comptroller of the command, Mr James Ojo, disclosed this during the handing over of the drugs to Mr Olusegun Adeyeye, the Commander of NDLEA, Idiroko Special Area Command, in Abeokuta, Ogun, on Friday.

Ojo said the customs handed over the seized cannabis and tramadol tablets to the Idiroko Special Command for further investigation in line with the standard operating procedures and inter-agency collaboration.

He said the illicit drugs were seized  in various strategic locations between January and November 21, 2024, in Ogun State.

He added that the illicit drugs were abandoned at various locations, including the Abeokuta axis, the Agbawo/Igankoto area of Yewa North Local Government Area, and Imeko Afton axis.

Ojo said that the seizure of the cannabis sativa and tramaling tablets, another brand of tramadol, was made possible through credible intelligence and strategic operations of the customs personnel.

“The successful interception of these dangerous substances would not have been possible without the robust collaboration and support from our intelligence units, local informants and sister agencies.

“These landmark operations are testament to the unwavering dedication of the NCS to safeguard the health and well-being of our citizens and uphold the rule of law,” he said.

He said the seizures comprised 403 sacks and 6,504 parcels, weighing 7,217.7 kg and 362 packs of tramaling tablets of 225mg each, with a total Duty Paid Value of N117,587,405,00.

He described the height of illicit drugs smuggling in the recent time as worrisome.

This, he said, underscores the severity of drug trafficking within the borders.

“Between Oct. 13 and Nov. 12 alone, operatives intercepted a total of 1,373 parcels of cannabis sativa, weighing 1,337kg and 362 packs of tramaling tablets of 225mg each,” he said.

Ojo said the seizures had  disrupted the supply chain of illicit drugs, thereby mitigating the risks those substances posed to the youth, families and communities.

He lauded the synergy between its command, security agencies and other stakeholders that led to the remarkable achievements.

Ojo also commended the Comptroller General of NCS for creating an enabling environment for the command to achieve the success.

Responding, Adeyeye, applauded the customs for achieving the feat.

Adeyeye pledged to continue to collaborate with the customs to fight against illicit trade and drug trafficking in the state.

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Economy

Customs intercepts N30m worth of PMS in Operation Whirlwind

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The Nigerian Customs Service (NCS) on Friday said that it had intercepted 849 kegs of Premium Motor Spirit (PMS), worth over N30 million in retail price from Operation Whirlwind.

The Comptroller of Customs, Hussein Ejibunu, made this known during a news conference in Ikeja.

“Today, we have another seizure of 849 kegs of PMS containing 25 litres each. This translates to 30,225 litres with duty paid value at N30.225 million only at the NNPCL retail price.

“Today marks yet another success recorded by the operatives of Operation Whirlwind, Zone “A” Lagos/Ogun Axis.

“About five weeks ago, same PMS products were displayed before you here on the parade ground of the college where several seizures were made,” Ejibunu said.

“On this note, we wish to thank the National Security Adviser and the Comptroller-General of Customs for their unwavering support,” Ejibunu said.

The coordinator of the Operation Whirlwind said that two vehicles of means of conveyance were intercepted along with the seizures.

Ejibunu said that they evacuated 80 Jerry Cans each from a vehicle.

He assured the public that Operation Whirlwind remains steadfast in its efforts to clamp down on PMS smugglers, ensuring no room for their illegal activities nationwide.

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Africa

Ann-Kio Briggs Faults Tinubu for Scrapping Niger Delta Ministry

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Prominent Niger Delta human rights activist and environmentalist, Ann-Kio Briggs, has criticised President Bola Tinubu’s decision to scrap the Ministry of Niger Delta, describing it as ill-advised and detrimental to the oil-rich region.

Briggs expressed her concerns during an appearance on Inside Sources with Laolu Akande, a socio-political programme aired on Channels Television.

“The Ministry of Niger Delta was created by the late (President Umaru) Yar’Adua. There was a reason for the creation. So, just removing it because the president was advised. I want to believe that he was advised because if he did it by himself, that would be terribly wrong,” she stated.

President Tinubu, in October, dissolved the Ministry of Niger Delta and replaced it with the Ministry of Regional Development, which is tasked with overseeing all regional development commissions, including the Niger Delta Development Commission (NDDC), North-West Development Commission, and North-East Development Commission.

Briggs questioned the rationale behind the restructuring, expressing concerns about its feasibility and implications. “But that’s not going to be the solution because who is going to fund the commissions? Is it the regions because it is called the Regional Development Ministry? Is it the states in the regions? What are the regions because we don’t work with regions right now; we are working with geopolitical zones,” she remarked.

She added, “Are we going back to regionalism? If we are, we have to discuss it. The president can’t decide on his own to restructure Nigeria. If we are restructuring Nigeria, the president alone can’t restructure Nigeria, he has to take my opinion and your opinion into consideration.”

Briggs also decried the longstanding neglect of the Niger Delta despite its significant contributions to Nigeria’s economy since 1958. “The Niger Delta has been developing Nigeria since 1958. We want to use our resources to develop our region; let regions use their resources to develop themselves,” she asserted.

Reflecting on the various bodies established to address the region’s development, Briggs lamented their failure to deliver meaningful progress. She highlighted the Niger Delta Basin Authority, the Oil Mineral Producing Areas Development Commission (OMPADEC), and the NDDC as examples of ineffective interventions.

“NDDC was created by Olusegun Obasanjo…There was OMPADEC before NDDC. OMPADEC was an agency. Before OMPADEC, there was the Basin Authority…These authorities were created to help us. Were we helped by those authorities? No, we were not,” she said.

Briggs further described the NDDC as an “ATM for failed politicians, disgruntled politicians, and politicians that have had their electoral wins taken away from them and given to somebody else.”

Her remarks underscore the deep-seated frustrations in the Niger Delta, where residents continue to advocate for greater control over their resources and improved governance.

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