Updated: NNPC blames fuel scarcity on panic buying, hoarding, marketers disagree – Newstrends
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Updated: NNPC blames fuel scarcity on panic buying, hoarding, marketers disagree

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Updated: NNPC blames fuel scarcity on panic buying, hoarding, marketers disagree 

The Nigeria National Petroleum Company Limited (NNPCL) has attributed the ongoing fuel scarcity in the country to panic buying and sharp practices by some petroleum marketers. But the marketers have refuted the claim, asserting that inadequate supply is the primary cause of the persistent scarcity.

The NNPCL assured the public that the fuel queues across the country would disappear by next week.

It stressed that it had sufficient fuel reserves to resolve the scarcity issue. This statement came in response to concerns raised by the Independent Petroleum Marketers Association of Nigeria (IPMAN) and other stakeholders regarding the scarcity.

The NNPC spokesperson, Femi Soneye, had earlier indicated that the corporation had over 1.5 billion litres of petroleum products, enough to last for at least 30 days.

But some individuals were allegedly exploiting the situation for profit.

Petroleum marketers maintained they were not responsible for the fuel scarcity, as they are not importers of petrol. According to the National Vice President of IPMAN, Hammed Fashola, blaming marketers for hoarding petrol was unfounded as they could only divert the product if available.

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Furthermore, Chinedu Ukadike, the National Public Relations Officer of IPMAN, emphasized that independent marketers operate their businesses to maximize profit and return on investment. He highlighted the challenges faced by marketers in ensuring product availability and dismissed allegations of sharp practices.

Similarly, the Executive Secretary of the Major Energies Marketers Association of Nigeria, Clement Isong, acknowledged the existence of sharp practices within the oil sector but argued that it is too simplistic to attribute the fuel scarcity solely to such practices.

To address the fuel scarcity effectively, stakeholders emphasize the need for increased distribution of petroleum products by regulatory authorities. They also call for the involvement of security agencies to deter profiteering and ensure fair distribution to consumers across the country.

Updated: NNPC blames fuel scarcity on panic buying, hoarding, marketers disagree

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Northern elders express concern over dethronement of Kano Emirs

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Northern elders express concern over dethronement of Kano Emirs

The Northern Elders Forum (NEF) has expressed concern over the dethronement of Kano Emirs.

The Forum on the other hand blamed the previous administration for creating new emirates, saying such action threatens the unity and cohesion of the traditional structure and undermines the centuries-old customs, values, and traditions that are the bedrock of Nigerian society.

In a press release by its director of publicity and advocacy, Abdul-Azeez Suleiman, the forum warned that the crisis in the Kano emirate has significantly raised public tensions and concerns.

It, however, urged the Kano state government and the involved politicians to handle the situation with utmost care and professionalism to prevent further escalation.

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“It is important for all parties involved to approach this matter with the utmost care and professionalism, keeping in mind the potential consequences of their actions. Rash decisions and inflammatory statements can only serve to worsen the situation and jeopardize the peace and stability of the state,” NEF stated.

The Forum also called on the public to remain calm and law-abiding, stressing that violence and unrest would only further divide the community and hinder peaceful resolution efforts.

The Elders emphasized the need for unity and mutual understanding during this crisis, noting that, the traditional institution in Nigeria has long faced challenges that have rendered it weak and ineffective.

According to NEF, “Creation of multiple emirates in Kano is a deliberate attempt to weaken the authority of traditional rulers, making them more susceptible to political control and manipulation. The arbitrary dethronement and replacement of high-ranking traditional rulers in Kano, according to the NEF, undermine their authority and legitimacy.

“This move threatens the unity and cohesion of the traditional structure and undermines the centuries-old customs, values, and traditions that are the bedrock of Nigerian society,” the Forum stressed.

Northern elders express concern over dethronement of Kano Emirs

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BREAKING: Yusuf signs bill reversing Ganduje’s Kano emirates creation

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Kano State Governor, Abba Kabir Yusuf

BREAKING: Yusuf signs bill reversing Ganduje’s Kano emirates creation

Kano State Governor, Abba Kabir Yusuf, on Thursday, signed the new emirate council law.

The governor, alongside his deputy, the Speaker of the State Assembly and other principal officers in the government signed the law Thursday evening at the Government House.

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[ICYMI] HOW TO APPLY FOR STUDENT LOAN

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[ICYMI] HOW TO APPLY FOR STUDENT LOAN

CREATING AN ACCOUNT

Step 1: visit www.nelf.gov.ng

Step 2: Click on the “Apply Now”

Step 3: Click on “Get Started”

Step 4: Answer the questions on this page to continue by clicking on “Yes, I am a Nigerian”

Step 5: Verify your educational information. You would be required to select your school from a dropdown and provide your matric number to check if your school has uploaded your details.

Step 6: Click the “Verify with JAMB” and enter your JAMB details in the screen.
(Students whose NIN has not been registered with JAMB will have an input field where they can enter their NIN for validation.)

Step 7: Create an account by entering your Email address, Password and Confirm Password in the fields provided and click “Create Account”.

Step 8: Click the email verification link sent to your email.
This concludes the process of creating an account.

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HOW TO COMPLETE YOUR PROFILE

After successful registration, log in by clicking the “LOGIN” button.

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