Petrol prices increased by 225% in 12 months, reveals NBS report – Newstrends
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Petrol prices increased by 225% in 12 months, reveals NBS report

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Petrol prices increased by 225% in 12 months, reveals NBS report

The National Bureau of Statistics (NBS) has released a report indicating a staggering 225.85% year-on-year increase in the average retail price of Premium Motor Spirit (petrol) for December 2023. Consumers paid an average of N671.86 per litre, compared to N206.19 in the same month of 2022.

The report further noted a 3.53% increase from November 2023, when the average price stood at N648.93. State-wise, Ogun had the highest average retail price at N776.54, followed by Taraba and Adamawa at N760.00 and N745.71, respectively.

Conversely, Kano, Lagos, and Borno reported the lowest average retail prices for petrol, with figures of N602.78, N612.72, and N622.71, respectively. Looking at the zonal profile, the North East Zone recorded the highest average retail price at N699.82, while the North Central Zone had the lowest at N657.69.

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In a parallel report, diesel prices also witnessed a significant year-on-year increase of 37.76%, rising from N817.86 per litre in December 2022 to N1,126.69 per litre in December 2023. On a month-on-month basis, there was a 6.74% increase from N1,055.57 in November 2023 to the December average of N1,126.69.

Analyzing state variations, Sokoto, Kebbi/Yobe, and Jigawa reported the highest average prices for diesel in December 2023 at N1,300, N1,250, and N1,229.09, respectively. Conversely, Rivers, Bayelsa, and Bauchi recorded the lowest prices at N897.89, N935, and N985, respectively.

The NBS report highlights the substantial surge in fuel prices, impacting consumers and raising concerns about the economic implications of these increases.

Petrol prices increased by 225% in 12 months, reveals NBS report

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Edo Gov Okpebholo freezes govt accounts, reverses ministry’s name

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Edo State Governor, Monday Okpebholo

Edo Gov Okpebholo freezes govt accounts, reverses ministry’s name

Edo State Governor, Monday Okpebholo, has directed the immediate freezing of all state-owned bank accounts.

In a statement issued on Thursday by his Chief Press Secretary, Fred Itua, the governor stated that the accounts would remain frozen until further notice.

He instructed commercial banks, ministries, departments, and agencies (MDAs) to comply with the order immediately or face severe consequences.

The statement reads: “All state bank accounts with commercial banks have been frozen. Commercial banks must comply with this order and ensure that not a single naira is withdrawn from government coffers until further notice.

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“Heads of Ministries, Departments, and Agencies must ensure full compliance without delay.

“Following necessary investigations and reconciliations, the governor will take appropriate action and decide on the way forward. For now, this order remains in effect.”

Okpebholo also directed relevant agencies to revert the name of the Ministry of Roads and Bridges to its previous title, the Ministry of Works, a change made during the Godwin Obaseki administration.

“It is odd to name a government institution the Ministry of Roads and Bridges, especially when not a single bridge was built by the previous administration — not even a pedestrian bridge.

“In the coming days, we will examine further actions taken by the previous administration and make decisions that serve the best interests of the state,” the statement added.

 

Edo Gov Okpebholo freezes govt accounts, reverses ministry’s name

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Israel-Palestinian conflict: Two-state solution is a deception, says Gumi

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Prominent Islamic scholar Dr. Ahmad Mahmud Gumi

Israel-Palestinian conflict: Two-state solution is a deception, says Gumi

Prominent Islamic scholar Dr. Ahmad Mahmud Gumi has criticized the widely discussed two-state solution for the Israel-Palestine conflict, calling it a “deception.”

His remarks followed a recent summit of the Organisation of Islamic Cooperation (OIC) in Riyadh, where President Bola Tinubu and other leaders condemned Israel’s actions in Gaza and urged an end to hostilities.

In an interview with Daily Trust at his Kaduna residence, Gumi argued, “This Two-State Solution is a deception. No Israeli will allow a Palestinian to survive, and Palestinians will never allow Israel to survive.

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The only solution is to dissolve the two states and create a democratically electable region.”

Gumi commended the OIC’s support for Palestine, noting that Muslims and Arabs worldwide increasingly see the treatment of Palestinians as “genocide” and accuse Israel of human rights abuses.

He also called for a return to the pre-1948 structure, where Palestinians, Jews, and Christians lived together, suggesting a single, inclusive state that allows peaceful coexistence.

“When I hear people talking about Two-State Solutions, I know they are just deceiving themselves,” Gumi added, advocating for a unified region where people of all faiths can live together, similar to the multi-faith coexistence seen in countries like the United States.

 

Israel-Palestinian conflict: Two-state solution is a deception, says Gumi

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Court sacks Ondo LP candidate, two days to governorship poll

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Olusola Ebiseni

Court sacks Ondo LP candidate, two days to governorship poll

The Labour Party candidature of Olusola Ebiseni for the upcoming gubernatorial election in Ondo State has been nullified.

The nullification follows the sacking of Ebiseni by the Court of Appeal, sitting in Abuja, on Wednesday.

The governorship election of the southwest State will hold on Saturday, 16 November 2024.

The judgement disqualifying Ebiseni was unanimously delivered by the three members of the panel and read out by the chairman of the panel, Justice Adebukola Banjoko.

The judgment granted the prayer of the Labour Party who preferred the case against Ebiseni.

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Justice Banjoko held that, “the appeal marked CA/ABJ/CV/1172/2024 brought by the Labour Party against Chief Olusola Ebiseni and two others is allowed.”

Justice Banjoko further stated that the Certified True Copy of the judgment would be provided to the parties involved in the appeal as soon as possible for their review.

Recall that Justice Emeka Nwite of the Federal High Court in Abuja had ordered the Independent National Electoral Commission to accept and recognize Olusola Ebiseni and Ezekiel Awude as the Labour Party’s governorship and deputy governorship candidates for the November 16 Ondo State governorship elections.

Justice Nwite confirmed that the second primary election conducted by the Labour Party, which resulted in Ebiseni and Awude being selected as candidates, was valid and should be upheld by INEC.

However, the appellate court has now overturned the judgment of the trial court’s judgment.

 

Court sacks Ondo LP candidate, two days to governorship poll

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