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Petrol to sell at N360/N400 per litre after subsidy removal – PENGASSAN

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PETROL SUBSIDY

 

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) says a litre of Premium Motor Spirit (PMS) commonly known as petrol should sell for between N360 and N400 after the subsidy regime.

PENGASSAN President, Festus Osifo made this known to newsmen on the sidelines of the association’s National Executive Council meeting which was held in Abuja on Tuesday.

Asked what the price per litre of petrol should be after the removal of subsidy, Osifo said, “Today, the sole importer of PMS into Nigeria is the NNPC. The NNPC is using an exchange rate of the CBN which gives about N400 to N450 depending on the day and depending on the window that you are looking at. So, if you compute that into the model today, PMS should be selling for a region of about N360 to N400.”

A litre of petrol is currently sold at N184 at some parts of the country and slightly higher than that in other regions, even as fuel scarcity and long queues gradually subside in most cities.

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However, Osifo said that the association has compelled all its organs nationwide to make fuel available for Nigerians and threatened to withdraw the licenses of any member found wanting of hoarding petrol.

He said functional local refineries will not only make fuel affordable but provide jobs for Nigerians. The PENGASSAN chief advised that the money removed from fuel subsidy could be used to end the perennial strike by the Academic Staff Union of Universities (ASUU).

He said, “While maintaining our support for the full deregulation of the sector and the significant milestone achieved in this regard, we counsel that efforts be made to increase the pace of the current rehabilitation exercise of refineries and get them back on track in due time.”

Osifo said the currency swap as well as sporadic fuel scarcity across the country must be addressed by the incoming administration while palliatives must be made available to Nigerians to cushion the impact of the removal of fuel subsidy.

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BREAKING: Protesters besiege PDP secretariat, demand Wike’s suspension

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The Peoples Democratic Party (PDP) Reform Vanguard, on Thursday, besieged the party’s secretariat in Abuja to demand the suspension of Nyesom Wike, minister of the federal capital territory (FCT).

 

The group also called for the resignation of Umar Damagun as acting national chair of the PDP.

 

The group arrived the headquarters ahead of the scheduled national executive council (NEC) meeting of the PDP, while demanding that Wike should be suspended for alleged anti-party activities.

 

Speaking with reporters, Usman Seidu, convener of the group, said Damagun and Wike have “undermined our collective efforts and jeopardised our very existence as a formidable opposition force”.

 

“We commend our former National Chairman Dr. Iyorchia Ayu for his demonstration of unwavering loyalty and love for our party by withdrawing all pending suits against the party in the court,” Seidu said.

 

“His actions have paved the way for our great party to move forward, to cleanse our ranks and restore integrity to our leadership.

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However, the presence of individuals like Amb. Iliya Damagun and Mr. Nyesom Wike within our midst remains a cancerous growth on the body of our party.

 

“Their actions, tantamount to betrayal, have undermined our collective efforts and jeopardised our very existence as a formidable opposition force.

 

“The time has come for the NEC to act decisively. Amb. Iliya Damagun must be removed from his position as acting national chairman, in accordance with the provisions of our party’s constitution.

 

“He must be replaced with a loyal member from the north-central, someone who embodies the spirit of our party and will work tirelessly for the advancement of its course.

 

“Furthermore, we cannot turn a blind eye to the continuous presence of Mr. Nyesom Wike within our ranks. His romance with the APC has been handsomely rewarded with his appointment as minister of the FCT and as such, his stay is a slap in the face of every loyal member of our party.

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“If the party fails to take decisive action against those who have betrayed our trust, then it risks losing the faith and support of it’s loyal members across the country.”

 

Wike attended the national caucus meeting of the PDP on Wednesday.

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Court adjourns ‘money laundering’ case against Yahaya Bello to April 23

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KOGI WEST ELDERS

 

The federal high court in Abuja has adjourned the case against Yahaya Bello, former governor of Kogi; Alli Bello, chief of staff to Usman Ododo, governor of Kogi; and one Daudu Suleiman, to April 23.

 

The Economic and Financial Crimes Commission (EFCC) alleged that the suspects diverted about N100 billion belonging to the Kogi government.

Responding to the EFCC allegations, the Kogi government said funds belonging to the state were not missing during the administration of the former governor.

 

The former Kogi governor was not present in the courtroom on Thursday.

 

Kemi Pinhero, EFCC counsel, said Bello’s absence from the court was a strategy.

 

Responding, Abdulwahab Muhammed, Bello’s lawyer, said on February 9, a court issued a restraining order on the arrest and prosecution of the former governor.

He said the restraining order was appealed by the EFCC, adding that the case is still pending and therefore the arrest warrant granted against Bello on Wednesday does not stand.

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Muhammed accused the EFCC of trying to bring the judge on a collision course with the court of appeal.

 

He said the court has no jurisdiction on the matter as the case is pending at the court of appeal.

 

Muhammed asked the court to vacate the arrest warrant granted against Bello because the court was “misled”.

 

He said it may lead to anarchy if a court of competent jurisdiction and another court of competent jurisdiction issue opposing orders.

 

Responding, Pinhero said if the former Kogi governor believes he is innocent, he should appear in court to defend himself.

He said if Bello is unwilling to appear before the court, measures will be taken against him.

 

He said section 287 of the constitution allows security agencies, including the military, to produce a person before a court, adding that nobody is above the court or the rule of law.

 

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After hearing arguments from the counsel, Emeka Nwite, the presiding judge, adjourned further hearing to April 23.

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Ganduje’s son visits Kano anti-graft agency amid corruption charges against dad

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Abdulazeez Ganduje, son of Abdullahi Ganduje, national chair of the All Progressives Congress (APC), on Wednesday visited the Kano state anti-corruption and public complaints commission.

 

On Tuesday, Muhuyi Magaji, chair of the anti-graft agency, said the commission is investigating a fresh case where N51 billion was allegedly diverted by the Ganduje administration.

 

The commission had earlier filed criminal charges against the former governor over an alleged $413,000 and N1.38 billion bribe.

 

The commission said it had assembled 15 witnesses to testify against Ganduje.

Abdulazeez, who is the first son of Ganduje, reportedly visited the anti-graft agency to show support for the commission’s case against his dad, mum and brother. 

 

In 2021, Abdulazeez dragged Hafsat Ganduje, his mother, to the Economic and Financial Crimes Commission (EFCC) over a bribery and land fraud case.

 

Ganduje was suspended from the APC by his ward over corruption allegations, with a Kano court upholding the suspension on Wednesday.

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