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Petroleum marketers notify FG on planned fuel price hike

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Petroleum marketers have said they had escalated their call for an increase in the pump price of Premium Motor Spirit, popularly called petrol, to the Federal Government, arguing that the current cost of the commodity was no longer sustainable.

Also, PMS transporters confirmed that they had resumed operations in full following last week’s raise in the freight rate being paid by the Federal Government for the transportation of petrol nationwide.

Meanwhile, amidst the call for petrol price hike and the full resumption of operations by transporters, it was observed that the queues by motorists for PMS in Abuja and neighbouring states is not reducing.

The Deputy National President, Independent Petroleum Marketers Association of Nigeria, Zarma Mustapha, said that the Federal Government had been put on notice concerning marketers’ intentions to increase petrol price.

“The current pump price is no longer sustainable and we have made this know to the government. However, we must acknowledge the efforts of the Nigerian National Petroleum Company Limited in ensuring product availability,” he stated.

Also, the National President, Natural Oil and Gas Suppliers Association, Bennett Korie, said Nigerians would have to adjust to the current reality, as it was no more feasible to dispense petrol at the approved rate of N165/litre in filling stations after purchasing the product for about N170/litre in some private depots.

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“So everybody is suffering and the only way out is for Nigerians to take or accept a little increase in petrol price. This will also ensure that the foreign exchange spent on petrol subsidy is reduced for us to have forex for diesel imports too.

“If not our construction companies, industries, hotels, etc, will all come to a stand still because they will not be able to buy diesel. You use diesel to get fuel to fillings stations, you use it to run the generators of various businesses in Nigeria because there is no light across the country. So this is the only way out.”

Asked whether marketers had informed the government about these concerns, Korie replied, “Of course, we’ve reached out to them about this. And the response is still the same problem that we are facing – petrol.

“You can’t buy petrol at a high price and sell this low. Crude oil is about $130/barrel, the cost of fuel, if you hear it, you will run away; but you are selling at N165/litre. So definitely you don’t expect money to remain for government to run other activities when it spends heavily on subsidy.”

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This is as the Nigerian Association of Road Transport Owners confirmed that its members had resumed operations fully with respect to the transportation of petrol, following the increase in freight rate by the government.

The National President, NARTO, Yusuf Othman, disclosed that the association was optimistic that the petrol queues caused by the earlier suspension of operations by some members, particularly in Abuja, would clear fast.

Recall that last week, President Muhammadu Buhari had approved an increase in the freight rate being paid to transporters of petroleum products in a bid to clear the persistent fuel queues by motorists in parts of the country.

Oil marketers had repeatedly complained that the lingering fuel queues in Abuja and neighbouring Nasarawa and Niger states, among others, were due to the inability of petroleum product transporters to purchase the diesel required to run their trucks.

This, they said, was due to the hike in the pump price of diesel, which was currently dispensed at about N850/litre.

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To address this concern, the NMDPRA announced last week that Buhari had considered the issue and had approved an upward review of the freight rate.

Reacting to the development, Othman said, “This is good for the sector because in the last few months, due to the high cost of diesel we have more or less been operating at a loss.

“But with the increase of the freight rate, most transporters who have hitherto parked their trucks due to no gain in the business, have now come out and continue their business.

“At the same time, there will be some new investments, those who are in the system and are willing to put more money will now put more trucks into the business. So this will gradually reduce all the queues that you are seeing.”

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Despite irregularities, 2023 poll reflected will of Nigerians – US report

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The 2023 Country Reports on Human Rights Practices says the last general election in Nigeria reflected the will of the populace despite widespread irregularities.

 

The report published by the bureau of democracy, human rights, and labour, US Department of State, highlights human rights practices and violations in different countries, including Nigeria.

 

The report stated that supporters of the All Progressives Congress (APC) suppressed votes in Igbo-dominated areas during the March 2023 governorship election in Lagos.

 

“National elections were widely reported to have reflected the will of voters, despite technical and logistical difficulties, and some irregularities,” the report reads.

 

“Many independent observers assessed the results of the presidential, legislative, and state-level elections during the year reflected the will of voters, despite reports of voter suppression and vote buying, campaigning at polling stations, lack of ballot secrecy, violence, and intimidation.

 

“During the March 18 state election in Lagos, All Progressives Congress (APC) supporters reportedly intimidated and
suppressed voters in Igbo-dominated areas, which Labour Party presidential candidate Peter Obi won in the February 25 national election.

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“Viral videos on social media showed APC supporters in Ojo (a LGA in Lagos) threatening to attack ethnic Igbo voters presumed to be pro-Obi.

 

“In Eti-Osa, APC supporters also attacked journalists and, in some cases, shut down voting and prevented non-Yoruba voters from accessing polls. They similarly destroyed property and physically blocked voters in Amuwo-Odofin.

 

“According to videos posted on social media, police officers were present but failed to respond to attacks.”

 

The report said there was no evidence that individuals who perpetrated violence in Lagos during the election were arrested or prosecuted.

 

‘CORRUPTION IN GOVERNMENT‘

The report stated that the Nigerian government has not “consistently” implemented anti-corruption laws.

 

It said there was “widespread” corruption across the country, including in the judiciary.

 

“In August, President Tinubu appointed former Governor Abubakar Bagudu, the Minister of Budget, despite Bagudu’s widely reported history of helping then-President Sani Abacha steal hundreds of millions of dollars from the government in the 1990s,” the report said.

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“Police arrested former Central Bank Governor Godwin Emefiele on June 10 and charged him and a co-defendant with defrauding the government of 6.5 billion naira ($10.4 million), later reduced to 1.6 billion naira ($2.5 million).”

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‘How flight engineer saved us from another potential air disaster’

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Joe Abah, a former director-general of the Bureau of Public Service Reforms (BPSR), has narrated how a ground engineer prevented another potential air disaster in Nigeria.

 

In a series of posts via X, Abah said he boarded the Ibom Air flight from Lagos to Abuja on Thursday morning.

 

He said as the aircraft prepared for take-off, there was a bang on the door from outside, which made the flight attendant to open the door.

 

“As she did, a ground engineer came in and those of us in front clearly heard him say “You can’t go. Your landing gear is bad,” Abah wrote.

 

He added that afterwards, the pilot made a “political” announcement that they need to perform some additional checks on the aircraft before take-off.

 

“He (pilot) spoke with the engineer and, a few seconds later, announced that we were to disembark,” Abah said.

 

“I thank God that we have the systems in place to check this and avert potential disaster. And that we have some diligent Nigerians who take their work seriously.”

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Abah asked the Nigeria Civil Aviation Authority (NCAA) to find him the engineer so that he can personally appreciate him.

Abah added that the incident caused disruptions and delays to the airline’s schedule for the day.

On Tuesday, a Dana Air plane veered off the Lagos airport runway, leading to the diversion of other flights.

 

The airline has since been grounded by the NCAA.

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Alleged N6.9bn fraud: Judge’s absence stalls Fayose’s trial

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The money laundering trial of a former governor of Ekiti State, Ayodele Fayose, could not proceed on Thursday as a result of the absence of the trial judge, Justice Chukwujekwu Aneke of the Federal High Court, Lagos.

 

Justice Aneke was said to be away on an official assignment, prompting the adjournment of the case to July 1 for the continuation of trial.

 

Fayose is being prosecuted by the Economic and Financial Crimes Commission (EFCC) for an alleged N6.9bn fraud and money laundering.

 

He was first arraigned on Oct. 22, 2018, before Justice Mojisola Olatotegun, alongside his company, Spotless Investment Ltd, on an 11-count charge bordering on fraud and money laundering offences.

He pleaded not guilty to the charge and was granted bail on Oct. 24, 2018, in the sum of N50m with sureties in like sum.

 

The defendant was re-arraigned before Justice Chukwujekwu Aneke on July 2, 2019, after the case was withdrawn from Justice Olatoregun, following a petition by the EFCC against the judge.

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He also pleaded not guilty to the charge and was allowed to continue on the earlier bail granted, while the case was adjourned for trial.

 

The commission has since opened its case before Justice Aneke and is still leading witnesses in evidence.

 

According to the charge, on June 17, 2014, Fayose and one Abiodun Agbele were said to have taken possession of the sum of N1.2bn for purposes of funding his gubernatorial election campaign in Ekiti.

 

Fayose was alleged to have received a cash payment of the sum of five million dollars, (about N1.8bn) from the then Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution.

 

He was also alleged to have retained the sum of N300m in his account and took control of the aggregate sums of about N622m.

 

Fayose was also alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain the aggregate sums of N851m.

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Besides, the defendant was alleged to have used the aggregate sums of about N1.6bn, to acquire properties in Lagos and Abuja.

 

He was also alleged to have used the sum of N200m, to acquire a property in Abuja, in the name of his elder sister Moji Oladeji.

 

The offences, the charge said contravened the provisions of sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act 2011.

 

The charge also argued that Fayose should have known that the monies were proceeds of crime.

 

He, however, pleaded not guilty to the charge.

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