Okafor said he remained resolute in defending his reputation and ensure justice.
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FG bans export of cooking gas to crash prices
FG bans export of cooking gas to crash prices
The Federal Government has banned the exportation of Liquefied Petroleum Gas (LPG) also known as cooking gas in order to increase the volume of supply and crash the prices across the country.
This was made known to journalists by the Minister of Petroleum (Gas), Ekperikpe Ekpo, at the ‘Internal Stakeholders’ workshop on Thursday, February 22, 2024, in Abuja.
The minister who spoke at the sideline of the event stated that the LPG producers had been told to stop exporting the commodity out of Nigeria, following the recent jump in the cost of cooking gas.
The theme of the workshop is “Harnessing Nigeria’s Proven Gas Reserves for Economic Growth and Development.”
FG discussing with stakeholders
When asked what the government has done to control the rising cost of domestic gas, Ekpo said the ministry is discussing constantly with critical stakeholders like the Nigerian Midstream and Downstream Petroleum Regulatory Authority and operators such as Mobil, Chevron, and Shell to address the issue.
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He explained that once there is a stoppage of the export of locally produced domestic gas, there will be more volume for the domestic market which will automatically reduce the price of the product.
- He said, “We are interacting with critical stakeholders to ensure that there is no exportation of LPG.
- “All LPG produced within the country will have to be domesticated. And when this is done, the volume will increase and of course, the price will automatically crash.
- “With the issue of gas, you have seen the demonstration of the Federal Government by withdrawing all taxes and levies from the importation of gas-related equipment. It is a big incentive.
- “On the issue of LPG (cooking gas), we are interacting with the critical sectors to ensure that there is no exportation of LPG. All LPG produced within the country will have to be domesticated. And when this is done, the volume will increase and, of course, the price will automatically crash.
- “I’m in contact with the regulator, NMDPRA, we have meetings almost daily with the producers of the gas like Mobil, Chevron and Shell. So there is that hope that things will turn around.
- “And that is also why we are having this engagement to know exactly what the problems are so that we can address them once and for all.”
What you should know
- There have been reports of escalating prices of cooking gas in major cities across the country with the prices hovering between N17,000 and N18,000, as against the N9,000 the product was selling around November last year.
- Earlier in September 2023, gas retailers under the aegis of the Nigerian Association of Liquefied Petroleum Gas Marketers warned that the price of a 12.5kg cooking gas cylinder could surge to N18,000 by December 2023 if the Federal Government does not intervene to regulate the actions of terminal owners.
- The president of the association, Olatunbosun Oladapo, attributed this unjustifiable price hike to terminal owners who, he alleged, are exploiting the excuse of a high foreign exchange rate to increase prices, causing significant hardship to the general population.
FG bans export of cooking gas to crash prices
News
Rivers crisis may truncate Nigeria’s democracy, remember ‘Operation Wetie’ – Bode George warns
Rivers crisis may truncate Nigeria’s democracy, remember ‘Operation Wetie’ – Bode George warns
A former Deputy National Chairman of the Peoples Democratic Party (PDP), Chief Olabode George, on Friday, has warned that the political crisis rocking Rivers State could consume the country.
He urged elders and stakeholders of the party to intervene in the crisis between members of the state House of Assembly loyal to the ex-governor Nyesome Wike and incumbent Governor Siminalayi Fubara.
He also urged President Bola Tinubu not to treat with levity the threat by some lawmakers in the state to impeach Governor Fubara, insisting that the state belongs to the PDP.
He advised that nobody should sit on the fence and pretend that things were fine in the state.
He quoted Section 109 (1) (g) of the 1999 Constitution, stating that a member of a House of Assembly would vacate his seat in the House if he becomes a member of another political party before the expiration of the period for which he was elected.
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George maintained that all the PDP lawmakers who defected to the All Progressives Congress (APC) had automatically lost their seats.
“They are in no position to threaten Governor Fubara. So, their plot to commence impeachment proceedings against the governor is already in vain,” he said.
He also said, “Rivers people belong to PDP. Those threatening to impeach the governor are being remote-controlled by some forces. This must stop because if Rivers is set on fire today, that may end this democracy.
“We should remember ‘Operation Wetie’ which started in the defunct Western Region and eventually consumed the nation and ended the First Republic in 1966.
“All the actors in this crisis in Rivers should avoid actions likely to cause breach of peace and breakdown of law and order in our country.
“Members of the Board of Trustees (BoT) of our party should be the elders in the room, act swiftly and nip this crisis in the bud before it consumes everybody.
“All the gladiators should also think of the collective interests of Nigerians. Whether we are members of PDP, APC or other parties, we should stop issuing provocative statements to increase the tension in Rivers.
“Any move that can truncate this democracy must be stopped immediately. Enough is enough”.
Rivers crisis may truncate Nigeria’s democracy, remember ‘Operation Wetie’ – Bode George warns
News
NANS kicks against tuition fee introduction in federal varsities
NANS kicks against tuition fee introduction in federal varsities
The National Association of Nigerian Students (NANS) has strongly opposed the recent proposal by Sonny Echono, the Executive Secretary of TETFUND, to introduce tuition fees in federal universities.
Echono’s suggestion, made during an education sector conference in Abuja themed “Funding for Tertiary Education in Nigeria,” sparked widespread concern among student communities.
Pedro Obi, the President of NANS, issued a statement on Friday, condemning the proposal as a direct assault on the fundamental principle of accessible education for all Nigerians.
Obi emphasized that federal universities have historically served as pillars of hope for underprivileged students, offering them the opportunity to pursue higher education without financial constraints. Introducing tuition fees, he argued, would undermine this noble principle and create barriers that could prevent countless deserving students from accessing tertiary education.
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While acknowledging the need for sustainable funding in educational institutions, Obi asserted that burdening students and their families with tuition fees is not a viable solution. He urged the government to explore alternative funding mechanisms that would not compromise the accessibility and affordability of education.
NANS called on the federal government to reject the proposal and uphold its commitment to providing free and accessible education for all Nigerians. Obi urged stakeholders in the education sector to prioritize the welfare and future of students above all other considerations.
The statement reiterated that education is a fundamental right, not a privilege reserved for the affluent. NANS affirmed its unwavering commitment to defending this principle and ensuring equal access to quality education for every Nigerian.
NANS kicks against tuition fee introduction in federal varsities
News
Binance: Rep threatens legal action over $140m bribe allegation
Binance: Rep threatens legal action over $140m bribe allegation
A House of Representatives member. Dominic Okafor, has denied allegations of accepting a $140 million bribe from Binance, an online cryptocurrency trading platform.
Okafor, representing Aguata Federal Constituency of Anambra State, has threatened to sue Premium Times that reported the allegations.
He told journalists in Abuja of his intention to pursue legal action against the media outlet responsible for the report tarnishing his reputation.
This came after Okafor’s motion to investigate the escape of Binance executive Nadeem Anjarwalla from Nigerian security custody.
He asserted that the timing of the bribery allegations, shortly after moving the motion, suggested a deliberate attempt to smear his name and integrity.
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In response to the report, Okafor wrote a letter to Premium Times demanding the retraction of the report within 24 hours.
He copied the Speaker, Deputy Speaker, Clerk, Inspector General of Police, EFCC, and DSS.
A Binance executive had earlier accused members of a federal government committee of corruption.
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