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JUST IN: NNPC orders emergency 500K tonnes of petrol to ease shortages

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FUEL SCARCITY

 

The Nigerian National Petroleum Corporation (NNPC) has asked trading firms for emergency supplies of 500,000 tonnes of petrol to replace cargoes that were rejected because of their poor quality, two sources with direct knowledge of the matter have disclosed.

Megacity Lagos and the capital Abuja face fuel shortages, and over the weekend, queues built up outside some petrol stations.

The emergency supplies equal 1,415, 800,000 litres of petrol, which will just be OK for about 28 days, at 50 million litres a day.

The Nigerian Midstream and Downstream Petroleum Regulatory Authority said it found gasoline with methanol above national specifications in the supply chain and removed the fuel from circulation.

Methanol, in small amounts, is a regular gasoline additive.

The regulator said the supplier of the off-specification gasoline was known but it did not name the firm.

It added NNPC had “intensified efforts at increasing the supply of petrol … to bridge the unforeseen supply gap.”

READ  Ex-NNPC boss denies $9.7 million and £74, 000 found in his home was gift from Bola Shagaya, Omokore, Aluko

Nigeria depends almost entirely on imports to meet its domestic petrol needs after many failed initiatives to revamp its dilapidated refineries.

NNPC handles nearly all these imports through crude-for-fuel contracts, known as direct sale, direct purchase (DSDP), with consortia of local and foreign oil firms.

Each consortium receives 20,000 barrels per day (bpd) of crude oil in exchange for products, making the combined total about 320,000 bpd of Nigeria’s output. Nigeria produces about 1.5 million bpd of crude in January.

Cheap fuel is one of the few benefits Nigerians feel they get from the government, which sets price caps at the pump through a controversial and patchy subsidy scheme.

With soaring oil prices, the emergency stopgap will be costly.

The International Monetary Fund (IMF) said on Monday Nigeria should axe subsidies due to a widening budget deficit.

 

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Court restrains NERC from implementing tariff hike for Band A customers

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A federal high court in Kano has issued an order restraining the National Electricity Regulatory Commission (NERC) and the Kano Electricity Distribution Company (KEDCO) from implementing the new electricity tariff for Band A consumers.

Ruling on an ex parte motion on Thursday, Abdullahi Liman, presiding judge, made an interim order restraining NERC and KEDCO from going ahead with the impending tariff pending the hearing and determination of the motion on notice before it.

The order also restrained the defendant from intimidating and threatening to disconnect the applicants’ electricity supply for non-acceptance of the new increased tariff.

 

The suit marked FHC/KN/CS/144/2024 was filed by Super Sack Company Limited and BBY Sacks Limited.

 

Others are Mama Sannu Industries Limited, Dala Foods Nigeria Limited, Tofa Textile Limited and Manufacturers Association of Nigeria Limited (MAN).

The motion ex-parte was moved by Abubakar Mahmoud, counsel to the plaintiffs.

 

On April 3, NERC approved an increase in electricity tariff for customers under the Band A classification.

READ  Tinubu reappoints Mele Kyari as NNPC GCEO

 

The commission said customers under the category, who receive 20 hours of electricity supply daily, would begin to pay N225 per kilowatt (kW) from April 3 — up from N66.

The sudden hike has been criticised by the house of representatives and other stakeholders who have asked NERC to suspend the implementation of the new tariff.

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UK local election: Boris Johnson turned away from polling station after forgetting valid ID

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Former prime minister of the UK, Boris Johnson, was turned away from his local polling station after forgetting to bring the required photo identity.

 

Johnson had joined locals in South Oxfordshire on Thursday to vote in the police and crime commissioner election.

Polling officials however told him he would not be allowed to vote without providing his identity.

There are 22 acceptable forms of ID in the UK including passports, driving licences, blue badges, and certain local travel cards.

 

As prime minister in 2022, Johnson introduced the Elections Act which requires photo ID — a development that sparked intense criticisms from Britons.

Last year, the Electoral Commission warned that the new law could exclude hundreds of thousands of people, including minorities and those with disabilities.

A spokesperson for Johnson confirmed he had forgotten the photo ID, but that he was able to cast his ballot after he returned with a valid ID.

READ  NNPC’s revenue hits N894.6bn, records N141.96bn surplus

 

“Mr Johnson voted Conservative,” Sky News quoted the spokesperson as saying.

Downing Street said it would “look into” changing the controversial rules which require photo ID in order to vote, so that ID cards of veterans can be added to the list of valid identification.

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Governors can pay N615k minimum wage if they get priorities right – NLC

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President of the Nigeria Labour Congress (NLC), Joe Ajaero, says state governors can afford to pay the proposed N615,000 minimum wage if they get their priorities right.

Ajaero spoke on Thursday during an interview with Channels Television.

 

Recently, organised labour announced that the new minimum wage should be pegged at N615,000.

The proposal came amid ongoing minimum wage negotiations between federal and state governments on one hand, and organised labour on the other.

 

In 2019, the administration of former President Muhammadu Buhari pegged the national minimum wage at N30,000.

After the new minimum wage was announced at the time, it took some states forever to implement the increment.

 

Asked during the interview if organised labour’s proposal of N615,000 is realistic, Ajaero said the amount is the “most realistic” given the galloping inflation in the country.

 

The NLC president said organised labour considered factors like transportation, housing, and feeding before arriving at the sum.

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“If you are talking about being realistic, the N615,000 demand is the most realistic. Being realistic is not about slave wage,” Ajaero said.

 

“However, N30,000 is big money if inflation is brought down, and at a single digit.

“Look at the indices that create inflation. If you check them, you can talk about being realistic. All other factors in the country are going high and wages remain constant.”

 

Asked if states can afford the N615,000 proposal, the NLC president averred that it is not about ability to pay but the priorities of states.

“I think we need to understand the issues of ability to pay and not getting the priority right,” he added.

 

“Most of the states that have shown willingness to pay the current minimum wage are not among those getting the highest revenue.

“During the time of Muhammadu Buhari, some states were declared not having enough money to pay and he released funds for them to pay.

READ  President Tinubu presents N27.5trn 2024 budget to N'Assembly today

 

“Those states still refused to pay. It is not the question of either the quantum of money that they have or not, it is what they decide to do with such money.

 

“If they get their priorities right, then a lot can happen.”

 

Organised labour has also threatened to embark on a strike if a new minimum wage is not announced before May 31, 2024.

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