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We’re not responsible for petrol price hike – FG

by Folarin Kehinde October 10, 2024

written by Folarin Kehinde

The Federal Government has said it is not responsible for the hike in the pump price of petrol.

On Wednesday, the Nigerian National Petroleum Company Limited (NNPCL) raised the pump price of fuel from N897 per litre to N1, 030 in Abuja; from N855 to N998 in Lagos; N1, 070 in North-East; N1,025 in other South-West states; N1,045 in South-East and N1,075 in South-South.

This had triggered reactions among Nigerians who asked President Bola Tinubu to work towards reversing the increment.

But in a chat with Daily Trust, Minister of Information and National Orientation, Mohammed Idris, said the government should not be held responsible for the latest hike in petrol price.

The minister explained that the NNPCL made the decision in response to prevailing circumstances in the energy industry, emphasising that it did not act on any instruction from the federal government, as the government can no longer fix prices of petroleum products, in line with the provisions of the Petroleum Industry Act (PIA).

He said with the subsidy regime ending since May 2023, the NNPCL had only been paying differential to keep the price within the range it had been, but the company said it could no longer absorb the losses.

“The differential you’re seeing is a result of different factors. One of them is the crisis in the Middle East. There’s volatility in the market. Therefore, the prices of petroleum products are going up, consistent with what is happening with other operators in the industry globally.

Secondly, NNPC cannot continue to absorb these losses for Nigeria because as a limited liability company, it would be operating at a loss,” he said.

The minister urged Nigerians to continue to show understanding with the NNPCL and the government, assuring that in the long run the prices would ultimately come down.

October 10, 2024 0 comments

Headlines

FG increases cost of number plates, driver’s license

by Folarin Kehinde October 9, 2024

written by Folarin Kehinde

Amid the economic hardship in Nigeria, the Joint Tax Board (JTB) has announced revised rates for national driver’s licenses and vehicle number plates, set to take effect from November 1, 2024.

Under the new pricing structure, Nigerians will now pay N15,000 for a three-year motor vehicle driver’s license, while a five-year license will cost N21,000.

Motorcycle and tricycle operators will also experience a price hike, with the three-year license now set at N7,000 and the five-year option at N11,000.

In addition to the driver’s license rate adjustments, the cost of vehicle number plates has seen a considerable increase.

Standard private and commercial vehicle number plates will now be priced at a minimum of N30,000. Fancy number plates, often used for personalized identification, will be sold at N400,000, while motorcycle number plates will cost N12,000.

Dealer motor vehicle number plates have been set at N100,000. Government vehicle number plates have also been affected by the revision.

The government fancy motor vehicle number plate will now cost N120,000, while the standard plate will be N80,000. For motorcycles, the government fancy number plate is priced at N50,000, and the standard number plate is at N20,000.

According to the JTB, the new rates will support the implementation of enhanced security features aimed at improving the identification processes for both drivers and vehicles across Nigeria.

Olusegun Adesokan, Secretary of the JTB, emphasized the importance of public awareness and education concerning these changes.

He said in a circular: “The secretariat has requested that the FRSC notify the JTB of its public engagement and sensitization plans.

“This is to enable relevant inputs where necessary, as we are confident that a very robust engagement arrangement will ensure the seamless implementation of the revised rates as approved by the board.”

October 9, 2024 0 comments

Headlines

Petrol Price Hits N1,200/Litre as Independent Marketers Follow After NNPC

by Folarin Kehinde October 9, 2024

written by Folarin Kehinde

The price of Premium Motor Spirit (PMS) popularly known as petrol has risen across the country as independent oil marketers, which account for the majority of retail outlets have adjusted the pump price of petrol to about N1,200 per liter.

This development follows the Nigerian National Petroleum Company Ltd’s (NNPC) decision to end its exclusive purchase agreement with Dangote Refinery and Petrochemical Company.

The price adjustment, which took effect on Wednesday, reflects the cost at which marketers purchased the product from Dangote Refinery.

It should be noted that the national oil company had previously bore the cost of subsidizing the product to the target users.

A survey of filling stations across the FCT revealed that many have adjusted their pump prices to align with the new market reality.

The deregulation of the downstream sector allows marketers to buy petrol directly from Dangote Refinery, effectively ending NNPC’s monopoly.

Although in the short term the price of the product is expected to be high, Wwth marketers now negotiating prices directly with Dangote Refinery, industry experts predict increased competition and potentially stabilized prices in the long run.

October 9, 2024 0 comments

Headlines

Hardship: I can’t afford diesel again — Rotimi Amaechi

by Folarin Kehinde October 9, 2024

written by Folarin Kehinde

Former Minister of Transportation Chibuike Amaechi has said that he is angry with the way Nigerians are responding to the current economic challenges.

Amaechi made this known in an interview with Igbere TV.

The former governor of Rivers State also said he expected youths to storm different streets and protest against the high cost of living but he has not seen anything that shows that they are serious.

“People should be angry because you cannot see a group of people stealing your money without doing anything. I am really angry with the citizens because they are not doing anything.

“Look at what happened in Edo State, should any politician be campaigning in Edo State? See, some of us cannot afford to buy diesel again because it’s costly,” he said.

Amaechi served as the Minister of Transportation for nearly eight years during the immediate past administration of Muhammadu Buhari.

October 9, 2024 0 comments

Headlines

You Must Seek Permission to Use National Anthem, NOA DG Tells Nigerians

by Folarin Kehinde October 9, 2024

written by Folarin Kehinde

Nigerians have been urged to ensure they seek formal permission before using the National Anthem in order to avoid any form of misuse or misinterpretation.

This call was made to Nigerians by the Director General of the National Orientation Agency (NOA), Lanre Issa-Onilu, on Wednesday, October 9.

Issa-Onilu in a statement emphasised the importance of obtaining permission from the NOA before the anthem or its lyrics are used.

“As custodians of Nigeria’s national symbols, the NOA is tasked with preventing all forms of misuse. Permission must be sought from the agency to avoid misrepresentation,” the DG said.

According to him, the agency would be embarking on a sensitisation campaign across Nigeria’s 36 states and the FCT to provide the people with some clarity on the agency’s new policies and guidelines.

October 9, 2024 0 comments

Headlines

BREAKING: NNPC increases petrol price, sell at N1,030 per litre

by Folarin Kehinde October 9, 2024

written by Folarin Kehinde

The price of petrol at Nigerian National Petroleum Company Limited (NNPC Ltd) outlets in Abuja increased to N1,030 per litre on Wednesday.

The development follows the termination of NNPC’s exclusive purchase agreement with Dangote Refinery.

Earlier reports indicated that NNPC Ltd would no longer be the sole buyer of petrol from Dangote Refinery.

This opens the market for other marketers to purchase directly from the refinery, allowing for a “willing buyer, willing seller” pricing model.

This adjustment aligns with the full deregulation practices currently in place for petroleum products in Nigeria.

Premium Times observed the price adjustment at several NNPC outlets across Abuja, including those in the Central area, where a customer, Glory Okoye, expressed disbelief: “This is funny; I just noticed that the pump price has changed from N897 to N1,030.”

Similar price hikes were reported in Wuse and Lugbe, leaving motorists and commuters frustrated.

In Akute, Ogun State, long queues formed at NNPC stations, which had abruptly shut down, citing technical issues.

An attendant explained the halt in service was due to waiting on a directive regarding the new prices.

This price jump follows NNPC’s September claim of purchasing petrol from Dangote Refinery at N898.78 per litre and selling to marketers at N765.99 per litre—bearing a subsidy of N133 per litre.

However, NNPC has stated that the arrangement is no longer sustainable, leading to the current price hikes as the market adjusts to new dynamics.

October 9, 2024 0 comments

Headlines

FG denies approving Dangote Refinery as sole supplier of Aviation Fuel

by Folarin Kehinde October 9, 2024

written by Folarin Kehinde

The Minister of Aviation and Aerospace Management, Festus Keyamo has denied saying that the federal government approved the Dangote Petroleum Refinery Company as the sole supplier of Jet A1 fuel to domestic airlines.

The minister made the clarification in response to reports quoting him as saying that the government approved the 650,000 barrels per day refinery as the only approved refinery for the job.

Keyamo appeared on Channels TV interview, which aired on Tuesday, where he said “The airline operators just met recently. With my blessing, it’s a decision from the airline operators in Nigeria that they should only buy from Dangote refinery Jet A1.

“You can see that yesterday we started naira-for-crude purchase with Dangote. It’s all Naira, no Dollar component.”

He also said sourcing petrol from Dangote would shield airline operators from the impact of crude oil price fluctuations.

But in a tweet seen by THE WHISTLER, the aviation boss clarified that the decision was not made by the federal government.

According to him, the Airline Operators of Nigeria (AON) made the decision and not the federal government.

He clarified, “This is a misrepresentation of what I said. The correct position is that the Airline Operators of Nigeria voluntarily decided they would patronise Dangote Refinery in their purchase of JET A1 Fuel.

“Not that the federal government approves Dangote Refinery as sole supplier. that is not correct.”

October 9, 2024 0 comments

Headlines

Tight security in Jos as Election Holds in 17 LGs in Plateau

by Folarin Kehinde October 9, 2024

written by Folarin Kehinde

With the Local Government elections ongoing in the 17 Local Government Councils across Plateau State, there is tight security in Jos city.

Politics Nigeria reports that officers of the Nigeria Police Force, the Nigeria Security and Civil Defence Corps (NSCDC) and soldiers of the Nigerian Military are littered across the street of Jos to ensure the safety of lives and property as the election is conducted.

So far, there conduct of the poll has been hitch-free with security operatives stationed at various polling units and strategic point to avoid the breakdown of law and order.

Recall that the Police Command in the state had earlier restricted movement across the local governments in the state.

The Plateau State Commissioner of Police, Emmanuel Adesina, during a stakeholders’ meeting had said that there would be restriction of movement of people and vehicles from midnight on Tuesday to 6 pm on Wednesday.

In addition, the State governor, Caleb Muftwang after meeting with various interest group declared a half working day on Tuesday, October 8 and a work-free day on Wednesday (election day).
According to the governor, this will avail residents of Plateau to travel to their respective communities to exercise their civic rights.

October 9, 2024 0 comments

Headlines

BREAKING: Massive protest as thousands of women in black protest over Edo election

by Folarin Kehinde October 8, 2024

written by Folarin Kehinde

Thousands of women, dressed in black, took to the streets of Benin City today in a massive protest, demanding the return of the mandate they believe was given to Peoples Democratic Party (PDP) candidate, Asue Ighodalo, and his running mate, Osarodion Ogie, in the recently concluded Edo governorship election.

Chanting slogans of “Justice for Edo!” and “Our votes must count,” the protesters decried what they called the manipulation and tampering of the election results by the Independent National Electoral Commission (INEC) and alleged collusion with the All Progressives Congress (APC).

One of the protest leaders who addressed journalists said, “We, the women of Edo, are not here for violence. We are here for justice.

Our votes were for Asue Ighodalo and Osarodion Ogie. We will not sit by and watch our democracy be stolen from us.”

The peaceful protest, which saw participants from various parts of the state, blocked major roads in the capital, disrupting daily activities as they marched towards the INEC office, demanding immediate compliance with the court order to release all election materials for inspection.

Mrs. Iwinosa Aikhomu, another protester, said: “This is our state, our future, and we will not allow anyone to take it from us. INEC must follow the law, and APC must respect the will of the people!”

The protest comes in the wake of a heated political battle, with the PDP accusing INEC of refusing to release the Bimodal Voter Accreditation System (BVAS) machines and other materials used in the September 21, 2024, election, despite a court order.

The women vowed to continue their demonstrations until the rightful winners are recognized.

The protesting women also called on the international community to intervene in the crisis, warning that continued suppression of the people’s will could lead to unrest.

“The world needs to know what is happening in Edo State,” said Mrs. Josephine Osagie, a marketwoman from Ekpoma.

Today’s procession is the latest in a series of demonstrations that have taken place across Edo State since the election results were announced.

Supporters of Ighodalo and Ogie have continued to demand justice, accusing INEC and the APC of attempting to undermine democracy in the state.

October 8, 2024 0 comments

Headlines

JUST IN: Newly elected councillor’s father killed in Rivers state election-related violence

by Folarin Kehinde October 8, 2024

written by Folarin Kehinde

The father of Ndiika Benson, one of the newly constituted councillors in Rivers State, representing Ward 4 in Khana Legislative Council, has tragically lost his life amid the violent crisis that erupted in the state on Monday.

The victim, Mr Benson Ndoone, a security officer at Kenule Beeson Saro-Wiwa Polytechnic in Bori, Khana Local Government Area, was reportedly killed by suspected opposition political thugs.

The thugs were protesting the outcome of the local council elections and stormed the Rector’s Lodge of the polytechnic, where the swearing-in of newly elected councillors was taking place.

The Rector’s Lodge also serves as the secretariat of the recently disbanded Caretaker Committee, previously led by Marvin Yobana.

In their bid to disrupt the proceedings, the thugs reportedly attacked the facility, leading to Ndoone’s death.

The killing of Mr. Ndoone has shocked the community and added a grave note to the already tense atmosphere in Rivers State, which has been marred by post-election violence following the local council polls.

The election had sparked violent protests in several areas, with political thugs reportedly targeting council officials and their supporters.

October 8, 2024 0 comments

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