The candidate of the Peoples Democratic Party in the September 21 governorship election in Edo State, Asue Ighodalo has filed a N20bn defamatory suit against Senator Adams Oshiomhole over comments on the Planwell scheme.

Ighodalo, through his counsel, Ayo Asala (SAN) & Associates, also sought an immediate and unqualified retraction and apology for the false, defamatory, and malicious comments which should be published in at least two (2) National Television Networks and three (3) nationally circulating newspapers.

The PDP candidate noted that the allegations by Oshiomhole are baseless, false, and malicious, describing them as another of such defamatory fabrications and statements made by the Senator representing Edo North Senatorial District in the recent past.

He added that the fabrication of the unfounded and false story is a figment of Oshiomhole’s imagination, intended to denigrate his good character and reputation for the political purpose of advancing the sinking fortunes of Oshiomhole’s party and candidate in the forthcoming gubernatorial election in Edo State.

A letter by Ighodalo’s lawyers dated September 16, 2024, and addressed to Oshiomhole reads, “We are counsel to Asue Ighodalo, who is the Governorship candidate of the Peoples Democratic Party in the forthcoming Edo State Governorship election. It is our information that at a campaign rally of your party on Saturday, September 14, 2024, you made statements to the effect that our aforesaid client, Dr Ighodalo, was associated with or participated in an alleged pyramid scheme known as ‘PLANWELL’ in which numerous Nigerians were defrauded of their hard-earned funds.

“This false and unfounded statement of yours was broadcast live on television and has received extensive exposure on electronic and social media.  It is sad to note that despite your status as an elder and holder of a public office, you appear to have developed a pattern of spewing false statements in the public domain purely for the achievement of your political ends.

“This baseless, unfounded, false, and malicious allegation has become another in a long line of such defamatory fabrications and statements made by you in respect of our client in the recent past. Our client is an accomplished Nigerian legal practitioner and a corporate leader whose impressive resume from birth up till the current day is entirely in the public domain our client has absolutely no connection with and could never have been involved in any manner whatsoever with the purported ‘PLANWELL’ scheme with which you have seriously defamed our client’s reputation.”

Ighodalo further noted, “It is clear that the fabrication of the unfounded and false story regarding the purported involvement of our client in the said ‘PLANWELL’ scheme or any other financial scheme whatsoever, is a figment of your imagination and a story fabricated purely to denigrate the good character and reputation of our client for the achievement of the political purpose of advancing the sinking fortunes of your political party and candidate in the forthcoming Edo State Gubernatorial elections.”

The letter added that Ighodalo was determined to ensure that the allegations against him do not go unaddressed.

“Our client has been inundated with calls and other contacts from concerned members of the public who heard your said allegations on electronic and social media as a result of which our client has suffered enormous unwarranted reputational damage arising from the lies and baseless fabrications of which you have become the purveyor.

“Our client is determined to ensure that these defamatory lies and fabrications which you have put in the public space do not go unchallenged.

“In consequence of the foregoing, therefore, our client demands the following:  i) An immediate and unqualified retraction and apology for your false, defamatory and malicious statements which should be published in at least two (2) National Television Networks and three (3) Nationally circulating newspapers.

“Pay to our client damages for 20 billion Naira for your false, defamatory, and malicious statements referred to herein. Take Notice that it is our client’s instructions that we immediately institute appropriate proceedings against you for damages in the sum of Twenty (20) Billion Naira (N20,000,000,000.00) for your said false, malicious, irresponsible and damaging statements made against our client without any foundation whatsoever. Further take notice that such action will be instituted without further notice or correspondence to you in that regard whatsoever,” it added.

The Nigeria Extractive Industries Transparency Initiative, NEITI, yesterday reported that the Federation Accounts Allocation Committee, FAAC, disbursed N3.473 trillion to the three tiers of government in the second quarter of 2024, reflecting an increase of N46.77 billion (1.42%) compared to the first quarter of 2024. 

NEITI in its latest Quarterly Report on Federation Account Revenue Allocations for Q2 2024 showed the Federal Government received N1.102 trillion, representing 33.35% of the total allocation.  

The 36 states received N1.337 trillion (40.47%), while the 774 local government councils shared N864.98 billion (26.18%). Additionally, nine oil-producing states received N169.26 billion as their derivation share from mineral revenue.

Compared to the previous quarter, the Federal Government’s allocation decreased by N41.44 billion (3.76%), while state governments saw an increase of N58.13 billion (4.29%), and local government councils experienced a rise of N30.82 billion (3.57%).

The report highlighted an upward trend in revenue allocations in the latter months of 2023 and early 2024. Total monthly disbursements increased from N1.094 trillion in January 2024 to N1.098 trillion in February but then declined slightly to N1.065 trillion in March.

On state-by-state allocations, Delta State received the largest share of allocations in Q2 2024, with a gross allocation of N137.357 billion, including oil derivation. Lagos State followed with N123.282 billion, and Rivers State came in third with N108.104 billion. Nasarawa, Ebonyi, and Ekiti States received the least, with N24.735 billion and N25.404 billion, respectively.

At the local government, Alimosho in Lagos State received the highest allocation at N5.721 billion, followed by Ajeromi/Ifelodun (N4.592 billion) and Kosofe (N4.541 billion). Ifedayo received the smallest share of N661.82 million.

Tje report indicated that nine states benefited from 13% oil derivation revenue, with Delta State leading at 40.153%, followed by Bayelsa (38.112%) and Akwa Ibom (36.117%). Rivers State recorded a derivation ratio of 27.272%, while the other oil-producing states had ratios below 20%.

The report also noted that solid minerals-producing states did not receive derivation revenue in Q2 2024 due to insufficient revenue generation from the sector.

According to the report, Bauchi State recorded the highest debt deductions in Q2 2024 at N6.49 billion, followed by Ogun State. Anambra State had the least deductions at N115.6 million, while Lagos and Nasarawa recorded no debt deductions for the quarter.

Commenting on the report, the Executive Secretary of NEITI, Dr. Orji Ogbonnaya Orji, emphasized that “The Quarterly Review aims to highlight the sources of funds into the Federation Account and the factors affecting the growth or decline in revenues and distributions over time.

“The ultimate goal of this disclosure is to enhance knowledge, increase awareness, and promote public accountability in the management of public finances,” Dr. Orji stated.

The NEITI Executive Secretary urged the citizens and civil society organizations, particularly those involved in revenue and expenditure monitoring, to show interest and strengthen their capacity in budget tracking and monitoring of allocations and disbursements to all tiers of government.

The Nigeria Upstream Petroleum Regulatory Commission, NUPRC, the Federal Inland Revenue Service, FIRS, and the Nigeria Customs Service, NCS, were identified as the main revenue-generating agencies for the Federation Account. 

Their contributions included oil and gas royalties, petroleum profit tax, company income tax, value-added tax, and import & excise duties.

Real Madrid teenager Endrick has announced that he is newly married to his girlfriend and model Gabriely Mirandy.

Both took to their Instagram pages to share pictures and announced the milestone.

They wrote on their shared post quoting the bible verse, ‘Matthew 19:6: So they are no longer two, but one flesh. Therefore, what God has put together no one can separate. At last we are married’.

Endrick only turned 18 some months ago.

They are reported to be together not close to a year and their relationship is to be under a contract as Endrick previously revealed.

The contract is said to have certain bans and the need to say “I love you” when it is needed.

The Brazilian prospect recently joined from Palmieras in the summer, appearing in only four games that aren’t up to 15 minutes altogether.

Endrick will now shift his focus to making his Champions League debut on the opening matchday as Real Madrid face Stuttgart.

The eighth African Nations Championships will be held from February 1 to 28 in Kenya, Tanzania and Uganda, Confederation of African Football (CAF) president Patrice Motsepe said Monday.

The biennial African Nations Championships (CHAN) is restricted to locally-based players, ruling out big name footballers who move to Europe.

It will be the first time East Africa hosts a continental football competition for national teams, and will serve as a precursor to the three nations hosting the 2027 African Cup of Nations.

Motsepe toured three Kenyan national stadiums which are earmarked to host the event, with two currently under renovation.

“I’m impressed with the commitment shown by the three countries which gives each of them the opportunity to enhance their football infrastructure and attract thousands of visitors and boost their tourism,” said Motsepe after chairing a CAF Executive committee meeting.

Qualifying matches for the 19-team tournament will start on October 25 and end in December.

Senegal won the last edition of the tournament in 2023 beating hosts Algeria 5-4 on penalties in the final.

Morocco and DR Congo have each won the CHAN title twice since its inception in 2009.

Al Nassr struggled in Cristiano Ronaldo’s absence on Monday, when the Saudi club kicked off the revamped Asian Champions League with a 1-1 draw against Al Shorta in Iraq.

Al Nassr captain Ronaldo did not travel with the squad for the match in Baghdad, with the club issuing a statement a day before stating that the Portuguese superstar had been diagnosed with a viral infection.

The statement read: “Al-Nassr captain Cristiano Ronaldo wasn’t feeling well today and was diagnosed with a viral infection.

“The team’s doctor confirmed he needs to rest and stay at his place.

“As a result, he will not be travelling with the team to Iraq today. We wish a speedy recovery to our captain.”

Al Nassr, who were knocked out of last season’s Asian Champions League in the quarter-finals by eventual champions Al Ain, were given a dream start in the Iraqi capital, when full-back Sultan Al Ghannam met Otavio’s astute, first-time pass on 14 minutes to finish low past Al Shorta goalkeeper Ahmed Basil.

Ronaldo is yet to win a major trophy with Al-Nassr since joining the Saudi club.

as NNPC set Dangote petrol price at N950 per litre

Hopes for a potential reduction in petrol prices, following the commencement of supply from Dangote Refinery, were dashed, yesterday, as NNPC Limited released a new pricing template that raised pump prices by about 11 per cent to N950 per litre.

The pump price of petrol was increased by over 45 per cent two weeks ago, apparently in anticipation of the refinery’s output.

But amid disagreements between NNPC and Dangote Refinery over price of the product, a statement by Chief Corporate Communications Officer, NNPC, Olufemi Soneye, clarified that Dangote petrol will not sell cheaper.

A document, titled “Estimated pump price based on Dangote Refinery September 2024 PMS supply”, showed that petrol from the refinery will have a base cost of N898 per litre.

Additional costs such as Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, charge of N4.495, Midstream and Gas Infrastructure Fund (MDGIF) charge of N4.495, distribution and logistics cost of N42.45 all added up to bring the effective pump price in Lagos area to N950.22 per litre from the current rate of N855 per litre.

NNPC also adjusted the price of the product across the country for its stations with Abuja now at N992.22 per litre from N897. The price for Kaduna, Kano and Sokoto has also increased to N992.22 while consumers in Borno area will pay the highest pump price at N1,019 per litre. Prices in Port Harcourt and Imo have been increased to N980.22 per litre.

NNPC insisted that it loaded the product at N898 per litre from Dangote and challenged anyone with contrary figures to make it public.

The company stated: “The NNPC Ltd also wishes to state that in line with the provisions of the Petroleum Industry Act, PIA, PMS prices are not set by government, but negotiated directly between parties.

“The NNPC Ltd can confirm that it is paying Dangote Refinery in dollars for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.

“The NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public.

“Attached to this statement are the estimated pump prices of PMS (obtained from Dangote Refinery) across NNPC Retail stations in the country, based on September 2024 pricing.”

NNPC completes lifting 16.5m litres

Meanwhile Vanguard findings yesterday, showed that the NNPCL has completed lifting of 16.8 million litres of petrol allocated to it.

A competent source in the refinery said: “NNPCL has completed lifting the 16.8million allocated it. The product would be discharged into retail outlets, thus assisting to ease shortage in the country.”

Meanwhile, checks indicated that depot owners and oil and marketers have not started to take delivery of the product.

A depot owner, who spoke to Vanguard said: “We are still lifting imported petrol from NNPCL at N766 per litre. We don’t know what price the Dangote Refinery product will be sold to us. We look forward to discussing with the NNPCL.”

Also, an independent marketer, who pleaded to be anonymous, said: “We have not started selling Dangote Refinery petrol. In fact, we are not even sure of what the price would be. But I can confirm that we are still lifting imported product from depot owners at N875 per litre.”

Consumers should expect N1, 200 per litre — Marketers

On his part, with NNPC selling at almost a thousand naira in Abuja, the Public Relations Officer, Independent Petroleum Marketers Association, IPMAN, Chief Chinedu Ukadike, said consumers should expect to pay as much as N1,200 per litre in outlets operated by other marketers.

“You can expect the price to be significantly higher than what you have at NNPC stations. Depending on how much depot owners are getting from NNPC, price may rise to between N1, 200 and N1,300 per litre in most parts of the north.

“We don’t know yet how much NNPC will sell and for independent marketers, things will even get more difficult because we don’t have direct access to products from NNPC. We have to buy from those who bought from NNPC,” he stated.

He had earlier lamented that the continued closure of NNPC Retail portal meant they would not be able to get access to petrol supplied by the Dangote Refinery through NNPC Limited.

Ukadike explained that the group which owned the majority of petrol stations across the country had also not been informed by NNPC of how it would get supply.

“We are happy that Dangote’s supply has commenced and we have another source of petroleum product supply. We are also not against the policy of selling the product to NNPC. The independent marketers are saying we also want the refinery to deal directly with us. We have the highest number of filling stations and will be the best partners for the refinery.

“We have not heard anything from NNPC. We are still waiting for their portal to open, so we can make purchases because since the issue started, NNPC has not opened its portal.”

When contacted to know the price NNPC Limited will be supplying other marketers as the sole off-taker of petrol from Dangote Refinery, Mr Soneye said the company was in discussion with the marketers.

Similarly, IPMAN National Welfare Officer, John Kekeocha, stated: “If Dangote products becomes higher than the imported products, then it doesn’t make sense. What is esence of the celebration we have been having all this while?”

Speaking on Channels Television’s The Morning Breakfast programme yesterday, he said the government should try to address all downstream problems and deliver petrol to consumers at an affordable rate.

Dangote keeps mum

However, the Group Chief Branding and Communications Officer of Dangote Refinery, Anthony Chiejina, did not respond to enquiries on the new facts yesterday.

But in his earlier statement Chiejine said Nigerians should “await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by President Bola Ahmed Tinubu, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars.”

Sector requires increased transparency — DAPPMAN

However, Olufemi Adewole, Executive Secretary, Depot and Petroleum Products Marketers Association of Nigeria, DAPPMAN, said: “The downstream sector needs to operate transparently in a manner that gives all stakeholders the opportunity to thrive and contribute significantly to the quest of ensuring availability, reliability and accessibility of petroleum products nation-wide.”

We’ve supplied more than 48m barrels to Dangote refinery — NNPCL

Meanwhile, the NNPCL, yesterday, said it has so far released 48,622,741 barrels of crude to Dangote refinery for processing.

In a document titled – Number of barrels of crude made available to Dangote Refinery, NNPCL, stated that 3,424,584 barrels, 3,477,214 barrels and 3,290,723 barrels were supplied in December 2023, February 2024 and March 2024, respectively.

The company said 3,330,537 barrels, 3,021,368 barrels, 5, 108,050 barrels and another 5, 108,050 barrels, were supplied in April, May, June and July 2024, respectively.

It also maintained that 4,797,215 barrels, 5,350, 000 barrels and 11,715,000 barrels were supplied to the refinery in August, September and October 2024, respectively.

The Nigerian government has begun a free programme to convert petrol-powered commercial vehicles to run on Compressed Natural Gas (CNG) in Ibadan and Zaria, as part of efforts to promote cleaner energy and reduce fuel costs after the removal of subsidies.

In Ibadan, around 100 vehicles were converted at three locations, including a Mobil filling station on the Lagos-Ibadan expressway and two other sites in the city.

Louisa Afu, Business Development Executive of the Presidential CNG initiative, said the project aims to help vehicle owners cut costs while contributing to a cleaner environment.

Afu noted that the initiative, part of President Bola Tinubu’s push for sustainable energy, would expand to other regions. “Gas is cheaper, more sustainable, and safer,” she said, adding that Nigeria’s abundant gas reserves made CNG a viable alternative to petrol.

Local transport officials praised the programme as a positive step for the sector, though some, like CNG user Sowole Jayeola, called for further reductions in conversion costs to encourage more widespread adoption.

In Zaria, the government also launched its CNG initiative, starting with 50 vehicles. Dauda Suleiman, Team Lead at the National Institute for Transport Technology Centre, said the conversion kits were being provided for free to commercial drivers in the region.

The Nigerian National Petroleum Company (NNPC) Limited says it purchased premium motor spirit (PMS), also known as petrol, from the Dangote Petroleum Refinery in dollars.

In a social media post on Monday, the NNPC said naira transactions would commence on October 1.

“The NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024,” the statement reads.

NNPC also released the estimated pump price of petrol based on prices set by the Dangote refinery.

On September 14, Wale Edun, the minister of finance, had said from October 1, the refinery would supply PMS and diesel to the domestic market in naira.

“From October 1, NNPC Ltd. will commence the supply of about 385,000 bpd of crude oil to the Dangote refinery, to be paid for in naira,” the minister had said.

“In return, the Dangote refinery will supply PMS and diesel of equivalent value to the domestic market, to be paid in naira.”

On September 15, the NNPC commenced petrol lifting at the refinery’s gantry after an extended period of price negotiations.

The development followed the deployment of a fleet of NNPC’s trucks to the refinery on September 14.

At the close of loading on Sunday, the NNPC had said it bought petrol from Dangote refinery at N898 per litre.

However, the Dangote refinery countered the claim, describing it as “both misleading and mischievous”.

Despite steady rise in commodity prices across the country, the National Bureau of Statistics (NBS) has said that headline inflation rate further eased to 32.15 per cent in August 2024 relative to the July 2024 headline inflation rate of 33.40 per cent.

The August 2024 headline inflation rate showed a decrease of 1.25 per cent points when compared to the July 2024 headline inflation rate at a time the country grapples with high cost of food items, fluctuation in exchange rate and shortage to the food supply chain occasioned by insecurity.

However, on a year-on-year basis, the headline inflation rate was 6.35 per cent points higher compared to the rate recorded in August 2023 (25.80 per cent).

“This shows that the headline inflation rate (year on-year basis) increased in August 2024 when compared to the same month in the preceding year (i.e., August 2023)” the statistics bureau said in a report released on Monday.

According to the NBS, on a month-on-month basis, the headline inflation rate in August 2024 was 2.22 per cent, which was 0.06% lower than the rate recorded in August 2024 (2.28 per cent).

“This means that in August 2024, the rate of increase in the average price level is lower than the rate of increase in the average price level in July 2024,” NBS said, making nonsense of the current high cost of living in Nigeria, driven by over 354 per cent increase in gasoline.

Jose Peseiro, the former Super Eagles head coach, has disclosed d the reason he decided not to continue with the job.

The Portuguese was in charge of the three-time African champions for 22 months and guided the Super Eagles to second position at the 2023 Africa Cup of Nations in Cote d’Ivoire

The 64-year-old left the post after his contract expired in February.

Peseiro said he left the post because of the pressure and stress that comes with it.

”I decided that when I finish the AFCON, I will leave. I had put too much effort in my job, it was too much stress. Everyone supported me – my family and the players but I grew fatigue, I thought it was enough for me, even if I had won the AFCON,” Peseiro told SABC Sport.

Despite the challenges he encountered while managing the Super Eagles, Peseiro said the “job was special”.

”Nigeria was an amazing job, with good players. We played very well in the AFCON. I think our team was the best until we lost to Cote d’Ivoire in the tournament,” added vastly travelled coach.

Peseiro is still without a job since leaving Nigeria. The former Venezuela coach said he is waiting for the right project.

”I am waiting for a good job, for a good step. It is true there were offers from South Africa, Europe and in Brazil as well, but I didn’t take any and feel good for those jobs. Someone called to tell me about the Sundowns job and about other things but until now, nothing special,” he remarked.