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Petrol scarcity not plot to impact elections – NNPC

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The Nigerian National Petroleum Company (NNPC) Limited says the petrol scarcity in the country is not a deliberate action to influence the forthcoming general elections.

Mele Kyari, group chief executive officer (GCEO), NNPC Limited, spoke when he appeared on NTA’s ‘good morning Nigeria‘ programme monitored by TheCable on Thursday.

He said the petrol shortage situation began in 2022, adding that arbitrage has a significant impact on the product’s scarcity.

“I do not think anybody sits down to orchestrate that there should be scarcity so that it will impact elections and so on. I don’t think it happens that way if it is so. But it is not true because the reality is that these glitches actually started early in 2022,” he said.

“It has nothing to do with this election period. Once you have a challenge of this nature, it is a cyclical thing. Once you have this challenge, they continue to come up, and then once you have arbitrage issues, you have this glitch.

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“Today, our redundancy in terms of petroleum products supply is just three days in this country. Once you have a glitch that extends longer than three days, you need another three weeks to stabilise it. So irrespective of who does what, whatever causes the three-day glitch, it is a nightmare waiting to happen.

“Once we see this glitch, that is why we do everything possible to avoid the glitches from happening. I do not think anyone will sit down and say let us create this so that there will be an impact on the elections and so on.

“There is no benefit in it. No one would do this and I can tell you this very clearly that there is no one issue, being the direct report to Mr. president, there is no one issue that bothers him like this. There is no briefing that I do to the president that he does not mention this.”

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Kyari said it was out of context and impossible to link petrol shortage to the elections, noting that NNPC was doing everything in its power to control the situation.

“Yes, there are a lot of glitches. There are a lot of logistics and nightmares. Greed has come into play. There are cross-border issues that we have to deal with. There are international market situations that you have to deal with,” he said.

Recently, Bola Tinubu, the presidential candidate of the All Progressives Congress (APC), said the petrol scarcity as well as the naira redesign were attempts to sabotage the forthcoming elections.

“Hide the petrol, hide the naira, we will still vote! We will win!” Tinubu had said.

On Tuesday, the Independent National Electoral Commission (INEC) said its logistics for the forthcoming elections may be affected by the ongoing scarcity.

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Good morning! Here Are Some Major News Headlines In The Newspapers Today: Police launch manhunt as gunmen kidnap Catholic priest in Anambra

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1. Some yet-to-be-identified gunmen have kidnapped an Anambra-based priest of the Catholic Church, Rev. Fr. Basil Gbuzuo. Gbuzuo was said to have been kidnapped on Wednesday, at about 8 am along the Eke Nkpor-Obosi Bypass, while on a journey.

 

2. The Federal Government has assured Nigerians that there is a firm safeguard for pension funds which makes it impossible for anybody to tamper with them. Finance and Coordinating Minister of the Economy, Mr Wale Edun gave the assurance on Thursday.

 

3. Minister of Power, Adebayo Adelabu, has said the hues and cries on the electricity tariff increase for Band A customers is from those who were not paying electricity bills in the past. Adelabu, who spoke at the 8th Africa Energy Marketplace forum on Thursday in Abuja, said the new tariff has led to reduction in energy cost for consumers in the band by 30 to 40 percent.

 

4. The Independent National Electoral Commission (INEC) has cautioned the governors of Edo and Ondo states and other politicians in the states against abusing the power of incumbency during the upcoming gubernatorial elections in the states. The Chairman of the Commission, Prof. Mahmood Yakubu, issued the warning on Thursday.

READ  Nigerians on tenterhooks: Frustrated Nigerians take to streets to protest naira scarcity, petrol shortage

 

5. Rivers State Governor, Siminalayi Fubara, says those who do not wish him well as the number one man in the state can no longer sleep. He said this when he hosted the state and national leaderships of Ijaw Youth Council (IYC) who were on solidarity walk to Government House in Port Harcourt on Thursday.

 

6. Emirates will resume services to Nigeria from October 1, 2024, operating a daily service between Lagos and Dubai, the airline announced on Thursday. This is coming over two years after the airline suspended flights to Nigeria over inability to repatriate funds from its ticket sales in Nigeria.

 

7. The Federal Government, through the Nigerian Education Loan Fund, on Thursday, announced May 24, 2024, as the official date for “the opening of the portal for student loan applications.” The announcement was made in a statement by the media lead for the NELFund, Nasir Ayantogo.

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8. Kano State Police Command, on Thursday, said 11 persons have died following Wednesday’s bombing incident at a mosque in Gadan Village, Gezawa Local Government Area of the state. The police spokesman in Kano, Abdullahi Haruna, said three more of the victims died on Wednesday, raising the figure to 11 from the eight casualties recorded on Wednesday.

 

9. Calls for the establishment of state police got the backing of speakers of the 36 Houses of Assembly on Thursday. They expressed support for the move which they believed will boost the push against insecurity.

 

10. President Bola Tinubu on Thursday hosted the new President of Senegal, Bassirou Diomaye Faye, at the State House in Abuja. It was gathered that the meeting is a courtesy call on Tinubu by the newest member of the Economic Community of West African States, ECOWAS, Authority of Heads of State and Government.

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FG fixes May 24 to open student loan portal

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The Nigerian Education Loan Fund (NELFUND) has fixed May 24 for the opening of the student loan portal.

 

Akintunde Sawyerr, managing director of the fund, announced the development in a statement on Thursday.

 

Sawyerr said the opening of the portal for student loan applications marks a significant milestone in the current administration’s goal of fostering accessible and inclusive education.

 

“Through the portal, students can now access loans to pursue their academic aspirations without financial constraints,” the statement reads.

 

“The portal provides a user-friendly interface for students to submit their loan applications conveniently.

 

“We encourage all eligible students to take advantage of this opportunity to invest in their future and contribute to the growth and development of our nation.

 

“Students can access the portal at www.nelf.gov.ng to begin their applications.”

 

President Bola Tinubu, in June 2023, enacted the student loan policy to grant interest-free loans to needy students.

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The scheme was slated to commence between September and October 2023, but implementation was repeatedly deferred.

 

The policy was heavily criticised for its stringent requirements, which many stakeholders argued would render the scheme inaccessible.

 

In March 2024, the president wrote to the national assembly requesting the repeal and reenactment of the law.

 

On April 3, Tinubu re-enacted the policy, effectively repealing the old law and reintroducing a new version.

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JUST IN: 36 house of assembly speakers back creation of state police

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The speakers of Nigeria’s 36 state houses of assembly have supported the ongoing process by the national assembly to create state police.

 

The speakers made their resolution known in a communique issued at the end of the meeting of the conference of speakers of state legislatures held in Abuja on Thursday.

 

Adebo Ogundoyin, speaker of the Oyo house of assembly and chairman of the conference, signed the communique.

 

The speakers said state policing would check the negative trend of insecurity in the country.

 

“To achieve this, the Conference appeals to the National Assembly, Presidency and other relevant Stakeholders to leverage on the ongoing constitution review exercise,” the communique reads.

 

The two chambers of the national assembly are working to amend some provisions of the 1999 constitution to include items such as state police.

 

Last month, Kayode Egbetokun, inspector-general of police (IGP), said Nigeria is not “mature” for state police.

READ  Crude oil production rises to 1.6m bpd, says Kyari

 

On February 15, the federal government set up a committee to explore the creation of state police in the country.

 

Mohammed Idris, minister of information and national orientation, said President Bola Tinubu and governors have agreed on modalities for the concept.

 

The minister added that a series of meetings would take place to determine the workability of a decentralised police force.

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