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Fuel price may fall as petrol vessels berth at port

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The pump price of Premium Motor Spirit, popularly called petrol, may be reduced in filling stations operated by independent marketers this week, following the massive imports of PMS by the Nigerian National Petroleum Company Limited, oil dealers stated on Saturday.

It was gathered that the recent hike in petrol prices at retail outlets operated by independent marketers was due to the short supply of the commodity, which led to acts of profiteering by both depot owners and filling stations.

But operators in the downstream oil sector confirmed on Saturday night that several cargoes imported by NNPCL had arrived in Nigeria, as some of them were currently discharging at the ports.

“Once the products start hitting filling stations, fuel price will reduce, because the recent high cost was due to supply drop,” the National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, told our correspondent.

READ  Why we increase petrol price to over N600/litre - Petrol marketers

 

On Thursday, oil marketers blamed the emergence of queues for petrol at filling stations in Abuja and neighbouring Nasarawa and Niger states on the low supply of PMS by its sole importer – NNPCL.

However, the national oil company refuted the position of marketers, as it argued that the queues in the affected areas were due to a “price war.”

But going by the latest development concerning the imports by NNPCL, operators in the sector stated that the queues would not only disappear but there would be a reduction in price at independent filling stations.

Currently, petrol is mostly sold at between N580 and N613/litre at filling stations operated by NNPCL. Most other marketers dispense the commodity at higher rates, with some selling PMS for as high as N670/litre.

“The most important thing now is that cargoes carrying PMS ordered by NNPCL have arrived, some of them have berthed and they are discharging. So the partial scarcity we are experiencing now will be gone,” Ukadike said.

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He noted that the inflow of foreign exchange during the Yuletide would not necessarily impact petrol prices, rather the increased imports by NNPCL should warrant a reduction in price.

He said the large PMS imports were confirmed to marketers by NNPCL.

On whether marketers had started receiving the products, Ukadike replied, “By Monday we will start receiving from Port Harcourt and Warri, based on my last discussion with the NNPC management.”

Another major marketer also confirmed the position of IPMAN, as he stated that “when you wet the market with products, there’ll be no room for profiteering.”

Earlier, the Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, stated that the position of oil marketers as regards the re-emergence of fuel queues was not true, as he insisted that the oil firm had enough products.

“That is not true. The recent tightness in Abuja is essentially a price war which is typical of any competitive market. Motorists would rather queue at filling stations that offer lower prices than others.

READ  Petrol, naira scarcity: Tinubu calls for calm, says opposition plotting to undermine democracy

“While NNPC retail is selling at N613/litre in Abuja, other marketers’ prices range from N625-N650/litre,” Soneye said.

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Minister to sue Niger speaker over plans to ‘marry off’ 100 girls, says it’s ‘totally unacceptable’

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Uju Kennedy-Ohanenye, minister of women affairs, has petitioned the inspector-general of police (IGP) and sought a court injunction to halt the marriage of 100 girls in Niger state.

 

Abdulmalik Sarkindaji, speaker of the Niger state house of assembly, announced last week that he would sponsor the wedding of 100 girls, some of whom were orphaned by insurgency, as part of his Maringa constituency project.

 

He said he had procured materials for the event scheduled for May 24, and promised to pay dowries for the bridegrooms.

 

Following the outcry that trailed the announcement, the speaker explained that he was only financing the wedding — not forcing the girls into marriage.

 

However, Kennedy-Ohanenye said the plan is unacceptable, and that the future of the girls should be a priority.

 

Speaking to journalists in Abuja on Monday, the minister said a thorough investigation into the circumstances surrounding the issue will be carried out.

READ  Pregnant drug queen busted with cannabis, loud, others in Edo

 

She said the ministry will take responsibility for the girls’ education and vocational training.

 

“I want to let the honorable speaker of house in Niger state know that this is totally unacceptable by Federal Minister Of Women Affairs and by the government,” Kennedy-Ohanenye said.

 

“Because there is something called the Child’s Right Act and I said it from the onset, that is no more business as usual.

 

“These children must be considered, their future must be considered, the future of the children to come out of their marriage must be considered.

 

“So I have gone to court. I have written him a letter and written a petition to the IG of police.

 

“And I have filed for injunction to stop him from whatever he is planning to do on the 24th, until a thorough investigation is carried out on those girls, find out whether they gave their consent, their ages, find out the people marrying them.

READ  NNPCL hints on fuel price increase, says N170/litre fuel price impossible

 

“As the speaker did not think about empowering these women or sending them to school or giving them some kind of training support financially.

 

“The women affairs have decided to take it up and we are going to educate the children.

 

“Those that do not want to go to school, we will train them in a skill, empower them with sustainable empowerment machines to enable that child build his or her life and make up her mind who and when to get married.

 

“If for any reason the speaker tries to do contrary to what I have just mentioned, there will be a serious legal battle between him and the Federal Ministry of Women Affairs.”

 

The minister added that based on the Child Rights Act, every child belongs to the state, hence the rights of every child will be protected from harm and violence.

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Good morning! Here Are Some Major News Headlines In The Newspapers Today: Tinubu orders MDAs to procure CNG vehicles

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1. All new vehicles, generators or tricycles being procured by the government and its agencies must be powered by Compressed Natural Gas, CNG, solar or electric, the Federal Executive Council, FEC, decided on Monday. It was one of the major decisions reached by the council before it adjourned its marathon proceedings till today after over four hours.

 

2. Rivers State Governor, Siminalayi Fubara took the political crisis in the state a notch higher by declaring his intention to probe the administration of his predecessor and godfather, Nyesom Wike. Fubara, who served as Accountant-General of the state during Wike’s administration said a judicial panel of inquiry would investigate how the affairs of governance were conducted before he assumed office on May 29, last year.

 

3. Organised Labour on Monday called for a total reversal of the power sector privatisation and recovery of all sold public electricity assets. Members of the Nigeria Labour Congress, NLC, and Trade Union Congress, TUC, made the demands while picketing offices of the Nigerian Electricity Regulatory Commission, NERC, in Abuja and electricity distribution companies, DisCos, nationwide.

READ  Petrol, naira scarcity: Tinubu calls for calm, says opposition plotting to undermine democracy

 

4. Key opposition figures on Monday began coalition talks ahead of 2027 polls, barely one year into the administration of President Bola Ahmed Tinubu. Former Labour Party, LP, presidential candidate, Mr Peter Obi held meetings with his Peoples Democratic Party, PDP, counterpart, former Vice President Atiku Abubakar.

 

5. A new wage system based on employee productivity in the civil service is underway, the Federal Government said on Monday. The government explained that with the system, workers on the same level could earn different wages.

 

6. The Economic and Financial Crimes Commission, EFCC, will arraign a former Central Bank of Nigeria, CBN, governor, Godwin Emefiele on Wednesday over the unlawful withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation. The agency also accused him of approving the printing of N684.5 million at the rate of N18.96 billion.

 

7. Some cement workers were abducted at Okpella, Etsako West local government area of Edo State, on Monday. The workers were in a Coaster bus heading back to Okpella community after the close of work when they were kidnapped.

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8. Senator Olaka Nwogu has told Rivers State Governor, Sir. Siminalayi Fubara, that the plan to probe the past administration is a mere witch-hunt that will escalate the ongoing crisis. The former senator and elder statesman, who represented the Rivers Southeast in the National Assembly, said any attempt to initiate any probe at this stage of the crisis would be viewed as vendetta.

 

9. An officer of the Nigeria Customs Service, NCS, serving in the Federal Capital Territory, Abdulwahab Magaji, has reportedly shot himself dead at his Abuja residence. According to reports, Magaji killed himself with a pump-action rifle at his residence located at Binta Street, Farm Estate area, Abuja.

 

10. No fewer than 45 people were arrested by the men of the Ondo State Security Network Agency also known as Amotekun Corps, for allegedly involving in some criminal activities across the state. The suspects allegedly committed crimes which include, kidnapping, vandalism, theft, burglary and cultism.

READ  NNPCL hints on fuel price increase, says N170/litre fuel price impossible

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FG extends FEC meeting to Tuesday, says ‘far-reaching decisions will be made’

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The Federal Government has extended the federal executive council (FEC) meeting to Tuesday.

 

Mohammed Idris, minister of information and culture, announced the extension of the FEC meeting on Monday while speaking with State House correspondents.

 

The FEC meeting was held on Monday for the first time since March.

 

Idris said the FEC meeting will continue on Tuesday at 12pm.

“The council meeting will continue tomorrow, therefore, there will be no press briefing today,” the minister said.

 

“A lot of far-reaching decisions are being taken and the conclusions will be made available to you tomorrow. FEC will continue at 12 noon tomorrow.”

 

During the FEC meeting, President Bola Tinubu swore in two additional commissioners of the National Population Commission (NPC).

The two commissioners are Fasuwa Johnson from Ogun state, and Amidu Raheem from Osun state.

 

Earlier, the cabinet observed a minute’s silence in honour of the late Fabian Osuji, a former minister of education; and Ogbonnaya Onu, a former minister of science and technology.

READ  Police arrest notorious gunrunner in Kaduna, recover arms, 344 rounds of live ammunition

 

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