Chief of Defence Staff threatens action as petrol prices hit N400/litre
The Chief of Defence Staff (CDS), Gen. Lucky Irabor, yesterday threatened that the Federal Government would not fail to activate alternative actions should the marketers of petroleum product fail to end the prolonged fuel scarcity.
“We do have 24-day sufficiency for AGO (diesel) and the aviation we have 45 days of stuffiness for ATK aviation fuel,” he said.
He added that there is fuel in every depot and evacuation was ongoing.
The NNPC boss noted that petrol smuggling was on the rise as over 67million litres of petrol has been evacuated daily but the crisis has prevailed.
- 2023: Why Wike, allies can’t publicly declare support for Tinubu or Peter Obi
- Housewife, son jailed for beating in-law to death over meat
- Hitmen group arrested, jailed after trying to subcontract assassination job to one another
“We have evidence now and we’re following this through that some of our customers are actually taking products to other countries. And we’ll get to the root of this. And the appropriate government security agencies will deal with this,” Kyari said.
The NNPC head also blamed the marketers, saying they did not follow the official petrol price rate at the depots and increased prices arbitrarily as some depots sell from N172 to N260/l above the agreed price, saying the marketers could not buy at that rate and sell at official rate.
“We have challenged IPMAN to bring documents on depots selling at N260 to them, but no one will bring a record,’’ he added.
The Chief Executive, Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Farouk Ahmed, confirmed there were several pacts with the marketers and transporters but such deals had not been followed through.
“But again, the more we agree, the more you lift the lever. We cannot continue like that,” he said.
He said recently NMDPRA sanctioned seven depots as deterrents but that did not work.
He urged marketers to help provide names of depots selling above ex-depot price but they refused.
CDS Irabor said: “It’s a crisis of internal nature which security and Police should lead but if it gets above that, there is an alternative.
“If there is no solution, let me reiterate that the government is not handicapped and there is an alternative and we pray that we don’t get to the level where the alternative will be activated,” Irabor said.
The Inspector General of Police Usman Alkali Baba, said the problem is in distribution, and urged operators for increased monitoring of the process.
“I think it is our role to assist the NNPC in monitoring the process of distribution if that will help us leverage the problem.”
Chairman of the Major Oil Marketers Association of Nigeria (MoMAN) Adetunji Oyebanji, said there are other costs that operators incur outside the ex-depot price. As he urged members to work to ensure products are supplied at the official rate.
Chairman of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Mrs Winifred Akpani, said the depot owners met last week on how to solve the price problem and distribution too.
She urged NNPC to only deliver products to depots (members) that will supply the right way, alleging that DAPPMAN does not regulate depot owners who are non-members.
- 2023: Either Obi or Kwankwaso may ‘Step down’ for me – Atiku
- Nigeria ranks 150 out of 180 countries in 2022 Transparency International Corruption Index
- $1bn investment recorded in auto industry – Minister
“We have all determined to ensure that we can help where we can help,” adding that profiteering is causing many problems to the country.
NARTO president, Yusuf Othman, lamented the increase in freight rate due to market reality saying officially it is N42 per kilometre but in reality it’s over N50 and so truckers give preference to marketers that pay cash and the market rate.
He decried the rising cost of buying trucks which he now said is over N60m as well as rising diesel cost of N880/l.
He noted that only major marketers pay twice for freight and that only OVH/NNPC give diesel at rebate, others do not.
According to Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), President, Comrade Williams Akporeha, said marketers have no right to increase the price because petrol is subsidized.
“Our position at NUPENG is that any depot or filling station that sells above the price must have the wrath of Nigerians to face,” he said.
The price of petrol across the country averaged between N380 and N400 per litre yesterday as the scarcity of the product assumed a disturbing dimension, nearly grinding economic activities.
Our correspondent who monitored some petrol stations in Aba, the commercial nerve of Abia state reports that most major marketers were out of stock of the product.
A visit to MRS filing by Asa road and among others revealed that they dispensed their PMS to customers at N400 per liter.
Commercial bus and tricycle operators operating within Umuahia capital city and Aba have since increased their fares with N50, N100 or more depending on the distance.
In Osun State, petrol was sold for N400, N370 and N365 per liter.
Although there is no long queues at the petrol stations selling at these prices, there are still are still long queues in other stations where it is sold for cheaper rates.
- Face-off between Niger Gov, Senator disrupts pro-Tinubu rally in Borgu
- Emefiele wants to cause uprising to have Interim Govt – Fani-Kayode
- Muslim leaders protest alleged rape of woman in Niqob (purdah) inside mosque in Ibadan
Long queues still surfaces at Bovas, NNPC, Matrix, NIPCO among others in the city.
Residents of Makurdi, Benue State capital and its environs are passing through hell to buy petrol too.
Yesterday, petrol was sold at #355 per litre in all the Independent marketers filing stations in Makurdi.
Getting the products was difficult as motorist remained on long queue for hours lamenting in frustration
The situation remained same in Adamawa State.
Car owners and commercial vehicle operators queued up in the few filling stations dispensing fuel where prices ranged at between N370 and N390 per litre within the state capital, Yola, and as much as N500 per litre in rural communities in the southern and northern tips of the state.
The whole of Yola had just one NNPC mega station selling fuel at the ‘sane’ price of N199 per litre yesterday, but the queue is usually so long that only people with the luxury of servants or unattached staff could send such persons, usually to buy large volumes of the commodity.
In Kaduna State, scarcity of petrol persisted in Kaduna, as price of the product reached N625 in the black market.
Also, our correspondents observed that, few major and independent petrol stations dispensing petrol for N210 per litre, had unprecedented queue, while filing stations on the outskirts of the metropolis, especially on Kaduna-Zaria highway, Kaduna-Abuja and Kaduna-Kachia roads, were selling for between N350 to N380 per litre.
The Nigeria Midstream and Down Stream Petroleum Regulatory Authority (NMDPRA) said it has intensified routine patrol and monitoring of servicing stations to enhance steady fuel supply in Adamawa.
While going round some of the filling stations in Yola , it was observed that a team of officials led by the State Coordinator of the Regulatory Agency directed all filling stations which had products to begin selling to consumers or risked being sanctioned.
In Edo State, Godwin Obaseki led administration promised quick end to the scarcity and hike in the price of Premium Motor Spirit (PMS), thereby receiving 780,000 litres of petrol.
It also set up of a task force to monitor the distribution and sale of petrol in filling stations across the 18 local government areas of the Southsouth state.
Edo Commissioner for Mining and Energy, Ethan Uzamere, an engineer, who was accompanied by his counterpart in the Ministry of Communication and Orientation, Chris Nehikhare, and the Special Adviser to Obaseki on Media Projects, Crusoe Osagie, made the disclosure yesterday afternoon in Benin at a news conference.
The news conference took place after the meeting between the representatives of Edo government and leaders of the protesting Civil Society Organisations (CSOs) in the state.
Uzamere revealed that the supplied product (780,000 litres) would be distributed among the major and independent marketers of petroleum products in Edo’s three senatorial districts.
- Consumers challenge Ikeja Electric over threat to withdraw prepaid meters
- No Justification for current petrol scarcity – PENGASSAN
- Stop rejecting old naira notes, NURTW tells members
He stated that Edo government would monitor the sale of petrol in the state, in order to ensure that members of the public were not exploited by the owners of the various filling stations.
The commissioner for mining and energy in Edo disclosed that members of the petroleum monitoring task force would be unveiled later yesterday evening, while assuring that all efforts would be put in place to ensure that no product supplied to the state was diverted.
He said: “Edo government has heard the cries of the residents of the state on the issue of fuel scarcity in Edo. The state government is working to ensure the availability of the product.
“As part of the measures, Edo government has set up a task force to monitor the situation, and ensure that no resident of the state is exploited. We also wish to announce that already, the state has received 780,000 litres of petrol, which will be distributed to major and independent marketers.
“The task force, whose members will be announced before the close of work today (Tuesday), will monitor the distribution and sale of petroleum products in Edo State.”
Nehikhare, in his remarks, gave an assurance that the welfare of the residents of Edo was very crucial, and being taken seriously by the state government.
Edo commissioner for communication and orientation also hailed leaders of CSOs for the maturity displayed in handling the protest that erupted on Monday, over petrol scarcity and price hike, while assuring that Obaseki’s administration would continue to engage all the major stakeholders, in order to find a lasting solution to the fuel challenge.
Osagie, while also speaking, noted that part of the duties of the task force’s members would be to monitor prices of petroleum products in Edo, while warn the marketers against arbitrary increase in the prices of the products,.declaring that anyone caught would be severely punished according to the dictates of the law.
How N4.8tn annual fuel subsidy made Nigeria poorer – NNPC
Nigeria’s petrol subsidy regime has been “fuelling the vicious cycle of poverty” , the Nigerian National Petroleum Company (NNPC) Limited has said.
A total of 133 million Nigerians are said to be living in poverty.
Lawal Musa, Senior Business Advisor to Mele Kyari, group chief executive officer (GCEO) of NNPC, said the Federal Government spends as much as N4.8 trillion annually on petrol subsidy — at the expense of the wellbeing of Nigerians.
He stated this at a joint National Association of Nigerian Students (NANS)/Civil Society Organisations (CSOs).
In a presentation titled, “Petroleum Industry Act (PIA) and the Nigerian economy’’, he said the amount spent on petrol subsidy payments could deliver infrastructural projects to the citizens.
Musa said deregulation of petrol prices could deliver 500,000 new houses and skill up of 2 million Nigerian students, among others.
According to him, the amount spent on subsidy could provide 7,500 kilometers of road network at N400 million per kilometre and 37 well-equipped 120-bed tertiary health centres at N32 billion per hospital annually.
He added that the subsidy spend could deliver N12 trillion in four years to Nigeria, adding that the cost of petrol subsidy surpasses the direct benefits to the masses.
In addition, the NNPC GCEO adviser said deregulation of PMS prices could also provide additional 27,000 megawatts of electricity to Nigerians as well as build and equip 2,400 hospitals in 774 local government areas.
Nigeria is the largest producer of crude oil in Africa, possessing 28 percent of Africa’s reserve, with petroleum contributing significantly to the country’s economy,” he said.
“The benefits derived have over the years been eroded due to the amount paid on subsidy, a regime [that] has been fuelling the vicious circle (sic) of poverty in the country.”
Musa explained that petrol was sold at the lowest price in Nigeria, among most West African countries, in spite of the average cost of $2.7 per litre globally, which amounted to about N570 per litre.
He noted that verifiable petrol demand data is critical to national planning and energy security.
On his part, Garba Deen Muhammad, NNPC’s spokesperson, said the organisation was engaging with students as critical stakeholders in the new organisation, which he said belonged to over 200 million Nigerians — including the students.
Muhammad said the engagement, which would be done annually, was aimed at enlightening the students and CSOs on NNPC as a new entity, registered by the Corporate Affairs Commission (CAC), under the Company and Allied Matters Act (CAMA).
Nigeria Air will commence operation before May 29 – FG
The Federal Government says the new national carrier, Nigeria Air, will commence operation before the end of the current administration on May 29.
Minister of Aviation, Hadi Sirika, disclosed this in Abuja on Thursday.
He spoke amid worry about a lingering court case instituted against the project by airline operators of Nigeria.
Sirika gave the assurances during the National Aviation Stakeholders Forum 2023.
He said the Federal Government was already taking measures to overcome the hurdles introduced by the indigenous airlines.
According to him, the project is 98 per cent completed.
“All of the road map items except, perhaps the airline, which in my opinion is at 98 per cent completion, and we will fly within the remaining two months by the grace of God,” the minister said.
“We will also finish the concessions. So, all those things we said we would do when we came in, we did them.”
The minister described as unfair the action of the local airlines, adding that the Buhari government had supported local airlines more than all previous governments.
He accused them of constituting a stumbling block to the actualisation of the national carrier expected to generate new jobs and better opportunities in the industry.
He said the Nigerian Aviation industry is the only one in the world where qualified pilots are without jobs.
He said 50 pilots had come to him complaining about their unemployment status, adding that the national carrier should be able to employ more pilots and create other job opportunities.
He said Ethiopian Airlines, the offered bidder for the national carrier, is highly competent and profitable enough to add value to the Nigerian aviation sector.
FAAC shares to FG, states, LGs drop by N27.4bn
The Federation Account Allocation Committee (FAAC) has shared N722.677 billion among the three tiers of government for February 2023.
This is a drop of N27.497 billion compared to January’s allocation of N750.174 billion.
FAAC disclosed this in a communique issued at the end of its meeting for March 2023 in Abuja on Wednesday.
The committee said the N722.677 billion total distributable revenue comprised statutory revenue of N366.800 billion, value-added tax (VAT) revenue of N224.232 billion, electronic money transfer levy (EMTL) of N11.645 billion, and N120 billion augmentation from forex equalisation account.
According to the comminiqué, in February 2023, the total deductions for cost of collection was N27.449 billion, while total deductions for transfers, savings, recoveries and refunds was N109.909 billion.
From the total distributable revenue of N722.677 billion, FAAC said the Federal Government received N269.063 billion, states got N236.464 billion and N173.936 billion went to the local governments.
A total sum of N43.214 billion was also shared with the relevant states as 13 per cent derivation revenue.
FAAC said a statutory revenue of N487.106 billion was received for the month of February 2023.
This, it said, was lower than the N653.704 billion received in the previous month by N166.598 billion.
From the balance of N366.800 billion distributable statutory revenue, the committee noted that the FG received N178.683 billion, states collected N90.630 billion, and local governments got N69.872 billion.
It added that the sum of N27.614 billion was shared as 13 per cent derivation revenue among the concerned states.
According to FAAC, the gross revenue available from the value-added tax (VAT) for February was N240.799 billion, which is lower than the previous month’s.
The committee said from the N224.232 billion value-added tax (VAT), FG was given N33.635 billion, states received N112.116 billion and local governments were paid N78.481 billion.
Report of Tinubu meeting CJN in London fabricated – APC PCC
How N4.8tn annual fuel subsidy made Nigeria poorer – NNPC
Four sentenced to death by hanging for kidnapping Emzor Pharmaceutical MD’s sister
CCECC completes Apapa port link to Lagos-Ibadan railway
Customs: Vehicle tariff reduction to begin next week
Biden, Treasury Secretary say Republicans COVID-19 aid too small
metro6 days ago
APC won Presidency, controls N’Assembly, will win not less than 28 states – Lawan
metro6 days ago
Ex-Imo deputy gov released on bail after nine days in prison
Politics6 days ago
Soldiers arrest 140 political thugs with arms and ammunition in Enugu
Politics7 days ago
Police debunks seizure of thumbprinted ballot papers in Gombe
Politics6 days ago
INEC postpones gov election in 10 Lagos polling units
Politics7 days ago
BREAKING: Fresh permutation as PDP, LP merge to unseat Dapo Abiodun ahead of Saturday
metro6 days ago
EFCC nabs ‘serial Canadian visa scammer’ in Abuja
Politics5 days ago
Osun PDP agent pays voters via PoS (VIDEO)