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Billionaire business mogul, Femi Otedola, has sent an important message to oil importers in the country.
He urged them to dismantle their depots and sell them as scrap.
Otedola said this following the announcement earlier on Tuesday that Dangote Refinery is now fully ready to churn out petroleum products, including the Premium Motor Spirit also known as petrol across the country.
Recall that the President of Dangote Refinery, Aliko Dangote, on Tuesday announced the rollout of Petrol from his 650,000 barrels per day.
He had in an earlier report said that the Petrol from the refinery will be available in the Nigerian market in 48 hours depending on the Nigerian National Petroleum Company Limited.
Otedola, in a post on X, said the development has practically put an end to the business of fuel importers in the country.
“..You have not just built a refinery; you have liberated us from the chains of economic dependence that have held this nation back for far too long,” he wrote.
“Now, with your refinery in full swing…the depot owners should take heed—it’s time to dismantle those depots and sell them as scrap while the market is still high.
“The world has changed, and those who do not adapt will be left behind.”
Women in Edo State have called on the former National Chairman of the All Progressives Congress (APC), Senator Adams Oshiomhole, to issue a public apology for allegedly making derogatory remarks about Dr. Betsy Obaseki, the wife of the Edo State Governor, Godwin Obaseki.
Naija News understands that Oshiomhole in a trending video, had reportedly referred to Dr. Obaseki as childless.
The protest, led by the Deputy Speaker of the Edo State House of Assembly, Maria Edeko, took place in Benin on Thursday.
During the protest, the women expressed their outrage, condemning the senator’s remarks and emphasizing that such statements are offensive and disrespectful, especially towards women facing fertility challenges.
The protesters demanded that Oshiomhole retract his comments and offer a formal apology to the Obaseki family.
According to the demonstrators, childlessness should not be used as a weapon in political discourse, and they urged for more sensitivity and respect in political engagements.
Edeko said, “It is sad to see a person (Oshiomhole) who has once governed the state, condescend to such a level. It is a taboo, a sacrilege and a desecration of Edo land to mock a woman or a couple for not bearing a child. Those who mock others for not having children yet could be described as one of the most ungrateful persons on earth.
“We rise as women of Edo State, home and abroad, to denounce the shameful conduct of Oshiomhole. We call on all women and couples that have gone through the pain of not bearing a child on time or not having a child at all, to express displeasure over the pathetic development.”
The Presidency has said at no time did President Bola Tinubu promise the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) that his administration would not increase the pump price of fuel.
The Senior Special Assistant to the President on Print Media, Abdulaziz Abdulaziz, said this on Tuesday, in reaction to organized labour’s outcry that workers have been betrayed.
Recall that the NLC President, Joe Ajaero, demanded an immediate reversal of the adjusted fuel price increase by Tinubu’s government.
Ajaero said Labour accepted the ₦70,000 minimum wage because the President promised there would not be an increase in fuel price.
Labour had in the build-up to the minimum wage negotiation, held onto ₦250,000 to be the minimum wage.
“We are filled with a deep sense of betrayal as the federal government clandestinely increases the pump price of PMS. One of the reasons for accepting N70,000 as national minimum wage was the understanding that the pump price of PMS would not be increased even as we knew that N70,000 was not sufficient.
“We recall vividly when Mr President gave us the devil’s alternatives to choose from: either N250,000 as minimum wage (subject to the rise of the pump price between N1,500 and N2,000) and N70,000 (at old pms rates), we opted for the latter because we could not bring ourselves to accept further punishment on Nigerians,” Labour said, in a statement, on Tuesday.
Abdulaziz, in response, accused Ajaero and Labour of playing dirty politics and deceiving Nigerians. He stated that the two meetings Tinubu had with Labour had no discussion concerning fuel price increases in exchange for minimum wage.
“I sat through the two meetings President Bola Tinubu had with Labour leaders on minimum wage. At neither of the meetings was an offer made in exchange of fuel price hike. Ajaero is once again playing his dirty politics with the emotions of Nigerians,” Abdulaziz wrote on his X handle.
- Action a betrayal , says NLC
On the day Dangote Refinery commenced the supply of petrol with a promise to make the product available in the market in 48 hours, the Nigerian National Petroleum Company (NNPC) Limited filling stations adjusted their meters to reflect new prices.
This action was amid a long-running scarcity of the product across the country.
There was no word from the national oil company on the new price regime.
The company only later in the day denied issuing a city-by-city price template which was circulating on social media.
Independent Petroleum Marketers Association of Nigeria (IPMAN) spokesman Ukadike Chinedu said NNPCL had not officially informed members about the price increase.
He said depot owners and marketers were awaiting further directives from the company.
Experts, however, gave reasons the oil giant might have effected the price change.
Petrol which sold for N568 at NNPCL filling stations in Lagos went for N855 per litre.
In Abuja where it sold for N617, the oil firm’s filling stations moved the price to N897.
The upward review came after NNPCL at the weekend admitted owing suppliers $6 billion, as a result of which they were reluctant to make the product available to them.
The company warned that the situation could result in its inability to make the product available to Nigerians.
The firm’s Chief Financial Officer (CFO) Umar Ajiya previously said the NNPCL was taking care of the shortfall in the supply system and was selling petrol at half the landing cost.
The Nigeria Labour Congress (NLC) rejected the new price.
It called for its immediate reversal.
NLC President Joe Ajaero in a statement described the increase as a “betrayal” after the Federal Government promised no pump price hike as a condition for the N70,000 minimum wage.
Other marketers jacked up prices to N897 per litre following NNPCL’s adjustment – by over 30 per cent.
The Minister of State (Petroleum) Heineken Lokpobiri denied that the Federal Government directed NNPCL to peg fuel prices at N1,000.
His media adviser Nnemaka Okafor described the reports as “blatantly false and malicious claims regarding petroleum pricing directive.”
“The Ministry of Petroleum Resources does not, and will not, interfere in the internal decisions of NNPCL, including pricing matters,” he said.
Some stakeholders said the increase was unavoidable.
They believe it will help alleviate the subsidy burden on both the Federal Government and the NNPCL.
An oil and gas consultant, Henry Adigun, said while the price increase was a step towards addressing the subsidy issue, it did not resolve the need for total deregulation of the downstream petroleum sector.
“Unless market prices align with international product prices, NNPCL will remain the sole importer,” Adigun said.
He welcomed the commencement of petrol production by Dangote Refinery but noted that supply would hinge on favourable market conditions.
‘Subsidy would have grown to N10t by the end of the year’
Managing Director of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, urged Nigerians to show understanding with the Federal Government in this “difficult period”.
According to him, the government was subsidising every litre of petrol with about N500 while the product sold for between N610 to N700.
He warned that subsidy payment would have risen to between N8 trillion and N10 trillion at the end of the year should the country continue on that trajectory.
Yusuf said: “The subsidy figure rose to this level because of the depreciation of the naira as all the petroleum products consumed locally are imported.
“Secondly, the price of the products locally and the West African sub-region had widened and it is sold at an equivalent of between N1300 to N1500 per litre.
“The incentive for smuggling is very high and with our huge porous border and waterways largely unmanned there is little or nothing those entrusted with that duty can do.
“In this scenario, the government was not only subsidising her citizens but the whole of the West African sub-region up to the Central African Republic.
“This is part of the dilemma the government is faced with.”
To him, there is a possibility the government will be subsidising petrol to an extent with the new price of N855 per litre.
Yusuf said: “This must be a tipping point for the government as it was almost going bankrupt. This much the NNPC admitted with the over $6 billion debt.
“The situation in which we have found ourselves is not palatable to either citizens or the private sector because of the high cost of operation.”
He expressed optimism that Dangote Refinery and others in the pipeline will help the government ensure the pump price does not go beyond this.
Yusuf called on the government to roll out fiscal policies that would enable citizens to transit to other energy uses such as CNG, LPG, renewable energy solutions and wind power.
He said: “We need to subsidise this so that people can move away from fossil fuel. Again government do not have any choice now but to adopt an effective logistics and transportation strategy to ensure that products get to the people on time unlike now where it takes between one to two weeks to get petroleum products to other cities across the country due to the collapse of the railway and rusted pipelines.
“All these no doubt increase the cost. I will only appeal to Nigerians to be a little more patient as the government is no doubt on the right track to grow the economy.”
Black marketers in Abuja sold petrol in 10-litre containers for N13,000.
Despite the hike, retail outlets recorded endless queues that increased transport fares.
Kubwa bus stop to Byazhin Across that was N300 by tricycle rose to N500.
Kubwa to Berger which was previously N600 soared to N800 while Kubwa to Nyanya which was N800 rose to N1,000.
NLC demands reversal
NLC said it felt betrayed by the Federal Government following the latest increase in the pump price of petrol.
In a statement by Ajaero, the Labour Centre urged the government to reverse the increase in prices.
Ajaero said the organs of the NLC would meet in the coming days and decide on its next move.
He said: “We are filled with a deep sense of betrayal as the Federal Government clandestinely increases the pump price of PMS.
“One of the reasons for accepting N70,000 as the national minimum wage was the understanding that the pump price of PMS would not be increased even as we knew that N70,000 was not sufficient.
“We recall vividly when Mr President gave us the devil’s alternatives to choose from: either N250,000 as minimum wage (subject to the rise of the pump price between N1,500 and N2,000) and N70,000 (at old pms rates), we opted for the latter because we could not bring ourselves to accept further punishment on Nigerians.
“But here we are, barely one month after and with the government yet to commence payment of the new national minimum wage, confronted by a reality we cannot explain.
“It is both traumatic and nightmarish.
“Yet, when we told the government that its approach to resolving the fuel subsidy contradictions was patently faulty and would not last, its front-row cheerleaders sneered at us, saying we did not understand basic economics.”
[TheNation]
Bill Gates, the Co-chair of the Bill and Melinda Gates Foundation, has explained why Nigeria receives the largest share of intervention funds allocated by the foundation in Africa.
Gates made this statement during an interview with selected journalists on the sidelines of the 2024 NutriVision Dialogue on Tuesday in Abuja.
He said, “We spend a lot in Asia, but we spend even more in Africa. The country where we spend the most in Africa is Nigeria.
“That makes sense because of the population and the incredible needs that are here. That means that I’ve literally spent billions in Nigeria.
“I’m glad that things like the child mortality rate have come down, but we could do a lot better.”
Gates emphasised that reducing global health inequality and eradicating measles, malaria, and polio are top priorities for the foundation.
He also mentioned that the foundation plans to increase its spending in the future, with a focus on improving primary healthcare.
“Our work is almost entirely focused on primary healthcare because the impact per dollar is dramatically greater than anywhere else,” he said.
Beyond health, Gates noted that the foundation also invests heavily in the agricultural sector, recognising that boosting agricultural productivity is crucial to Nigeria’s economic development.
He highlighted that this goal could be achieved through access to high-yield, climate-resistant seeds, fertilisers, improved and timely information, and better weather predictions for farmers.
According to him, these measures will significantly boost agricultural output and reduce food costs.
The philanthropist also stated that the foundation supports partners in implementing food fortification for staple foods, which enhances the nutritional quality of the food supply and provides public health benefits.
He stressed that access to a variety of low-cost foods, particularly milk and eggs, is crucial for reducing malnutrition.
Gates noted that the time is right to utilise innovative ideas and tools in the health and agricultural sectors to substantially reduce malnutrition.
Since its inception in 2000, the foundation has supported partnerships with African regional institutions, national governments, and local communities in 49 African countries.
A repentant female Boko Haram member, who underwent deradicalisation and resettled in Mafa Local Government Area of Borno, Fatima Musa, has said she regrets shredding into pieces her National Certificate in Education.
Musa made this known in Maiduguri on Tuesday during a community dialogue on understanding, tolerance and peaceful coexistence organised for the repentants and community leaders of Mafa.
The News Agency of Nigeria reports that the dialogue was organised by a community-based NGO, Allamin Foundation with support from the British Government under the UKaid.
Musa, who was deradicalised with other repentant women by the foundation, said many of them joined the insurgency at a young age after they were misled.
“We were misled as young people through the use of religion and later discovered that we went the wrong way after we were deradicalised by the foundation.
”We met with clerics who put us on the right track regarding Islam. We are now mature and more knowledgeable on Islam and the teachings of the Holy Prophet that promote peace and tolerance.
“I regret tearing my NCE certificate up when I made the mistake of accepting the twisted ideology that Western education was Haram.
“One of my prayers for now is to reach out to my father, who is now in a neighbouring country to beg for his forgiveness for joining the sect against his wish,” she said.
Also speaking at the dialogue, another deradicalised female, who identified herself as Bintu, pleaded for forgiveness from the people of Mafa and urged for support to the foundation to reach out to more women and men in the bush.
Bintu pointed out that a few cases of some repentants returning to the bush had to do with stigma and harassment by some people, telling them that they were doomed for hellfire fire in spite of their repentance.
“If you keep telling people they are doomed, they’ll say since there’s no forgiveness, they had better go back and continue.
“Some of the surrendered have easy money and others loot in the bush. They are struggling for survival with other citizens in their communities.
“Such repentants need to be encouraged to start a new life to sustain it,” Bintu said.
Some residents of Mafa who also spoke at the meeting, urged the government to do more on the deradicalisation and resettlement process through more empowerment support to victims and those that repented in line with transitional Justice.
The leader of the Civilian Joint Task Force in Mafa, Babagana Butu, said members now include some of the repentant insurgents.
”We patrol the area together. We provided them with farmlands to cultivate like everyone as part of the reintegration process.
“We want the government to also remember them in its empowerment programmes to enable them to sustain themselves and their families as well as contribute positively to the society,” Butu said.
In her remarks, the Executive Director of the foundation, Hajiya Hamsatu Allamin, said the dialogue was organised to discuss issues arising from the reintegration process and the way forward regarding challenges faced.
A lecture on Islamic ruling on peace, reconciliation and peaceful co-existence was delivered by a Consultant and Peace Mediator, Shiekh Ali Mustapha.
NAN
International football returns across Europe this week, less than eight weeks after Spain edged out England in the Euro 2024 final in Berlin.
AFP Sport picks out five storylines to follow around the continent ahead of two rounds of fixtures over six days starting Thursday:
Will Spain pick up where they left off?
Spain are on a high after their magnificent triumph at the Euros and their gold medal success at the Olympics.
Luis de la Fuente’s side are quickly back in action and have another title to defend, having won the last edition of the Nations League. La Roja are in Group 4 of League A and begin with an awkward double-header, a trip to Serbia being followed by a meeting with Switzerland in Geneva. Denmark complete the group.
Their squad does not feature the injured Alvaro Morata, Unai Simon or Mikel Merino, who all played in the Euros final, but wing stars Lamine Yamal and Nico Williams are involved. There are also new faces in Oscar Mingueza, the ex-Barcelona right-back now at Celta Vigo, and Valencia midfielder Pepelu.
“We will keep fighting and trying to go as far as possible in every competition,” insisted De la Fuente.
England start post-Southgate era
After missing out on Euros glory, England begin a new era with Gareth Southgate having stepped down.
He has been replaced on an interim basis by Lee Carsley, the England Under-21 coach. Carsley, 50, is for now only in charge for this double-header of Nations League matches, as England play Ireland in Dublin and host Finland at Wembley.
The English Football Association are buying themselves time as they search for a permanent successor to Southgate, with 2026 World Cup qualifying not beginning until next March.
But a good start may see them keep faith in Carsley for the rest of the Nations League campaign, in which England also play Greece after being relegated from the top-tier League A following the last edition.
Carsley’s first squad is missing the injured Jude Bellingham, but there are call-ups for the uncapped quartet of Noni Madueke, Morgan Gibbs-White, Tino Livramento and Angel Gomes.
Ronaldo plays on
Cristiano Ronaldo endured a disappointing Euro 2024, failing to score in five matches as Portugal went out in the quarter-finals. Many thought the 39-year-old might then accept it was time to retire, but coach Roberto Martinez has continued to back the former Real Madrid striker, naming him in the latest squad.
“When the time comes, I’ll move on,” Ronaldo, of Saudi club Al-Nassr, insisted on Monday after teaming up with the squad to play Croatia and Scotland at home.
Portugal will also come up against Poland in Group 1 of League A, as they aim to win the Nations League for the second time after triumphing in 2019.
An injury to Paris Saint-Germain striker Goncalo Ramos means Ronaldo is likely to play from the start.
New, or not so new, faces
There are other nations beyond England starting afresh under a new coach.
Ireland’s meeting with England will be the first game for their new Icelandic coach Heimir Hallgrimsson. Aged 57, the former Jamaica boss was appointed in July and will also lead the team in World Cup qualifying.
Wales are also under new management after failing to reach the Euros, with Craig Bellamy having replaced Rob Page.
Sweden play their first competitive matches under new coach Jon Dahl Tomasson, the ex-Denmark forward. Mircea Lucescu, now 79, has returned for a second stint in charge of Romania, 38 years after ending his first spell.
Trying to follow the format
This is the fourth edition of the Nations League, but the format has not got any simpler. New this time is the introduction of quarter-finals next March, involving the top two from each group in League A. The four-team finals will take place next June.
Teams finishing third in League A, and second in League B, will face off in relegation/promotion play-offs, with identical play-offs between Leagues B and C.
There is an impact on World Cup qualifying too.
The 12 group winners in European qualifying will go to the World Cup, with another four places going to winners of play-offs featuring the 12 runners-up plus the four highest-ranked teams in the Nations League who have not otherwise made it.
as/jc
© Agence France-Presse
Binance has asked the Nigerian government to release Tigran Gambaryan, its head of financial crime compliance.
A Binance spokesperson said on Tuesday that Gambaryan’s health condition is distressing.
On February 28, Gambaryan and Nadeem Anjarwalla, Binance’s regional manager for Africa, were detained by Nigerian authorities.
Although Anjarwalla escaped from the custody of the office of the national security adviser (ONSA), the firm and Gambaryan, in April, were charged with money laundering by the Economic and Financial Crime Commission (EFCC).
Gambaryan’s legal team and his family had previously raised the alarm that the Binance executive could die in Kuje prison if his health continued to deteriorate.
His wife, Yuki, said her husband’s health was getting worse and that he requires a “highly specialised and risky surgery” to treat the herniated disc in his back.
At the resumption of trial on September 2, the EFCC objected to the health claims made by Gambaryan, saying the situation “is not as serious” as portrayed.
Speaking on the development, the Binance spokesperson said Gambaryan’s health is “rapidly declining”.
“We are extremely distressed by the video of Tigran in court yesterday. This video is just a snapshot of Tigran’s current reality,” the spokesperson said in a statement made available to TheCable.
“His health is rapidly declining and we are deeply concerned about the long-term consequences of this unjust detention.
“Nigeria does not need to keep Tigran for us to settle any alleged past issues. We continue to implore the Government of Nigeria to let Tigran return home and let us continue in our engagements.
“Our recent resolutions with Brazil and India demonstrate how historical issues can be resolved through constructive dialogue and adherence to legal standards.
“This is the international standard of doing business.”
‘GAMBARYAN NEEDS SURGERY’
Gambaryan’s wife Yuki also raised concerns about the dismissal of her husband’s health issues.
Yuki said the prison had withheld his medical records, while she called on the US government to intervene in the matter.
“This situation is entirely unjust. My husband was unlawfully detained by the Nigerian government after being invited under false pretences for a meeting in their country,” she said.
“During this prolonged imprisonment, his health continues to deteriorate, and now, he is in so much pain that he can barely walk. The US government must do more to help Tigran.
“I urge them to use every available tool to free an innocent American who is at risk of permanent damage.
“I am also deeply concerned about recent statements from Nigerian authorities denying Tigran’s health issues. The truth is that the prison has withheld his medical records for months, and even the partial records they finally released today say that Tigran needs surgery. They cannot keep playing games with my husband’s life like this.
“This entire situation is inhumane and degrading, and I am fed up. There must be consequences for this disregard of law and human rights.”
Gambaryan’s bail application is expected to be heard on September 4.
[TheCable]
Presidential aide, Bayo Onanuga, says the Nigerian National Petroleum Company Limited (NNPCL) Limited admitted to having financial constraints because it can no longer subsidise petrol.
Onanugu, the Special Adviser on Information and Strategy to President Bola Tinubu, disclosed this in a post on X on Tuesday.
He said if the NNPCL continues to pay the difference between the landing cost and petrol price, the national oil company will go bankrupt.
Onanuga said NNPC’s debt was a result of the company’s efforts to absorb rising petrol costs and protect Nigerian consumers, rather than any government deception.
“NNPC cried out recently because it can no longer sustain the price differential on its balance sheet without becoming insolvent,” he said.
“The situation has greater implications for the ability of the three tiers of government to function as the NNPC has failed to pay into the Federation Account, the money that should go to the government.
“There are no easy choices. Something must be done to make NNPC survive, and keep the engines of government running and petrol flowing at the pumps.
“That is the scenario that is unfolding, and the game changer and big relief giver may well be the Dangote refinery and other local refineries, which will become the fuel suppliers to the local market.
“When Dangote Refinery and other refineries, including government-owned Port Harcourt Refinery, come fully on stream, our country and economy will benefit on all fronts. There will be many good paying jobs that will be created along the value chain.”
According to Onanuga, there will also be a drop in the huge demand for foreign exchange to import petroleum products.
Tinubu government did not lie about fuel subsidies
I have read a series of articles attacking the Federal Government for not telling the truth about fuel subsidy payments, following NNPC Limited’s admittance it was owing suppliers some $6 billion.
Earlier, the NNPCL increased the price of petrol to N855 per litre, but the landing cost of the Premium Motor Spirit (PMS) was around N1,200.
Media
Tinubu government did not lie about fuel subsidies
— Bayo Onanuga (@aonanuga1956) September 3, 2024
I have read a series of articles attacking the Federal Government for not telling the truth about fuel subsidy payments, following NNPC Limited's admittance it was owing suppliers some $6 billion.
Some of the stories have… pic.twitter.com/BrIjElDw2t
The Lagos State medical doctor, Idara Bassey, who was declared wanted in connection with the death of a 36-year-old woman during a buttock enlargement surgery at a clinic in Lekki Phase 1, is now in police custody, PUNCH Metro reports.
Our correspondent learnt from the state Police Public Relations Officer, Benjamin Hundeyin, on Tuesday, that Bassey is currently being investigated at the State Criminal Investigation Department in Panti.
Bassey had previously fled after Abiola died during a buttock enlargement procedure at her clinic on August 26, 2024.
The Brazilian Butt Lift is a cosmetic surgery procedure that involves removing fat from other parts of the body and injecting it into the buttocks to enhance their fullness and create a rounder shape.
Numerous medical experts have warned about the potential risks of the procedure, particularly following the death of a 31-year-old British woman, Melissa Kerr, during a similar surgery at the Medicana Kadikoy Hospital in Istanbul in 2019.
A BBC report in 2023 revealed that the deceased had not been given enough information to properly assess the risks of the BBL surgery before travelling to undergo the procedure.
Despite warnings about the risks of the enlargement procedure, more videos have surfaced online of women, especially in Lagos, claiming to have successfully undergone the surgery.
While the police confirmed to our correspondent that the nurse who administered the injection to the late 36-year-old had been arrested, the clinic’s owner became a suspect in the case, particularly following her disappearance.
PUNCH Metro reports that Abiola had visited the clinic for the buttock enlargement procedure, which tragically ended in her death after a nurse, allegedly acting under Bassey’s orders, administered an injection.
Earlier, she had left her home in the Diamond Estate, Sangotedo, in the Ibeju Lekki area and directed her driver to take her to the clinic for the procedure.
After the nurse allegedly administered the injection on the doctor’s instructions, the driver who brought Abiola to the clinic reported to the police that she had lost consciousness and began gasping for breath.
When contacted on Tuesday about the progress of the investigation, Hundeyin stated that the doctor is now with the SCID.
Asked whether Bassey would face charges and on what grounds, he said answers to these questions would be provided “after the investigation.”
More...
Nigerians are expressing widespread frustration and concern as the price of petrol has surged to an unprecedented ₦855 per liter at Nigeria National Petroleum Company Limited (NNPCL) filling stations, particularly in Lagos.
This sharp increase has exacerbated the ongoing scarcity of the commodity, leaving citizens scrambling for fuel and struggling to cope with the rising cost of living.
The issue has sparked reactions across the country, with many taking to social media to voice their displeasure.
Notably, Nollywood actress and activist, Kate Henshaw, shared a video on her platform, lamenting that her driver discovered the new hike while attempting to purchase fuel.
She highlighted the sudden increase by over ₦200 per liter as particularly alarming.
This current crisis comes several years after the All Progressives Congress (APC), now the ruling party, had criticized the previous administration under President Goodluck Jonathan for setting petrol prices at ₦87 per liter.
Back in January 2015, the APC argued that the price of petrol should not exceed ₦70 per liter, accusing the then-government of exploiting Nigerians by forcing them to subsidize corruption in the oil sector.
The APC’s statement from 2015, released by Lai Mohammed, described the reduction of the petrol price from ₦97 to ₦87 as mere “tokenism” in light of the significant drop in global crude oil prices.
The party argued that even at ₦87 per liter, Nigerians were overpaying for petrol, subsidizing inefficiencies and corruption in the oil industry.
Now, nearly a decade later, the reality of petrol prices exceeding ₦800 per liter is causing widespread distress, with many citizens questioning the government’s handling of the oil sector and its impact on the economy.
APC at the time stated, “When crude oil was selling at 100 dollars per barrel, the landing cost of PMS without subsidy was 125 Naira per litre. Now that the oil price has crash to about 44 dollars per barrel, landing cost without subsidy is about 65 Naira per litre. The same goes for diesel which should not sell for more than 90 Naira per litre.
“While governments of countries which are not as economically endowed as Nigeria have reduced the pump price of fuel as far back as early January 2015, Nigeria that is the world’s sixth largest producer of oil is just announcing a price slash that is far below those countries.
“Early this year, Zambia slashed the price of petrol by 23 per cent while Tanzania reduced the pump price of the product by 16%. In the US, which until recently was importing crude oil from Nigeria, the price of fuel has fallen for 113 consecutive days as of January 16. Therefore, the 10.3% price slash in Nigeria is too meagre too late.”
Fast forward to 2024, petrol sells for over ₦1000 in some states currently due to scarcity.
The mother of late President Umaru Musa Yar’adua, Hajiya Dada, was laid to rest on Tuesday at the Danmarna Cemetery in Katsina amidst tears and solemnity. Her funeral prayer, led by Imam Aminu Yammawa, was conducted at the Yar’adua Quarters, just outside her residence, at approximately 1:30 pm in accordance with Islamic rites.
Several high-profile figures attended the burial, including Vice President Senator Kashim Shettima, former Vice President Alhaji Atiku Abubakar, and Labour Party Presidential Candidate in the 2023 General Elections, Mr. Peter Obi. Other dignitaries present were former Sokoto State Governor Aminu Waziri Tambuwal, Senator representing Bauchi Central Abdul Ningi, and other notable politicians, academicians, and business leaders.
Earlier in the day, Katsina State Governor Dikko Radda welcomed a delegation led by former Vice President Atiku Abubakar at the Katsina Government House, also known as General Muhammadu Buhari House. The delegation, which included former Sokoto State Governor Senator Aminu Waziri Tambuwal, Senator Abdul Ningi, Senator Umar Tsauri, and former Secretary to the Katsina State Government Alhaji Mustapha Inuwa, had arrived to pay their respects and attend the burial.
Hajiya Dada passed away on Monday evening after a brief illness. She was the mother of both late Shehu Musa Yar’adua and Senator Abdul Aziz Musa Yar’adua, who currently represents Katsina Central Constituency and serves as the Chairman of the Senate Committee on Army. The burial took place in the same cemetery where her husband, Musa Yar’adua, and her two deceased sons, Shehu Musa Yar’adua and President Umaru Musa Yar’adua, were also laid to rest.
Some traders and commuters in the Federal Capital Territory (FCT) have frowned at the increase in the pump price of Premium Motor Spirit (PMS) by the NNPC Ltd.
The News Agency of Nigeria (NAN) reports that the NNPC Ltd. Retail Management approved the upward review of PMS pump price from N617 per litre to N855 per litre effective from Sept. 3.
The commuters and traders, who spoke to NAN in Abuja on Tuesday, said the development would increase food prices which was gradually crashing and also the sufferings of the masses.
Mr Ignatius Ugwu, a civil servant, said the fuel pump price increase would further reduce the purchasing power of workers.
He said the increase would hike transportation fares which would make it difficult for workers to resume work promptly and be productive.
Ugwu appealed to the Federal Government to pay workers’ minimum wage and introduce other palliatives that would help cushion the effect of the increase on the masses.
”This information is very scary for a country like ours where people are struggling to eat even one good meal a day.
”This increase will make transport fare and other prices of goods and services to go up.
”The government should have been magnanimous enough to put some things in place before this increase.
”They should have paid minimum wage and other arrears, they should have brought out buses to help the masses because whether we like it or not, prices of things will go up, ” he said.
Mrs Antonia Ogbede, a housewife, said the increase would automatically hike food prices which was gradually coming down.
Ogbede said that traders would take the advantage of the fuel increase to also increase the prices of their goods.
She said the spending burden would increase on her spouse who was the sole breadwinner of the family.
”I went to the market today and I saw some traders discussing about the fuel increase.
”I heard one of them making call for some goods to be delivered to him by the company he buys from and they told him that the price will increase by the end of the week.
”The trader ordered 100 cartons and he said he will sell them at increased price.
”The government should please help us before our breadwinners will develop sicknesses as a result of too much spending,” she said.
Mrs Evelyn Otapu appealed to the Federal Government to consider its citizens first before some policies formulation.
However, Mr Andy Kolapo, a driver, said that the increase would make the fuel queues to disappear.
”We heard that they (NNPCL) has been planning to increase the price of fuel to N1,000 per litre and this they have achieved.
”We hope that this will bring to an end the recurring queues in fuel stations,” he said.
NAN reports that independent marketers were selling between N1,000 and N1,200 per litre.
Former Director-General of the Labour Party (LP) presidential campaign organization during the 2023 elections, Doyin Okupe, on Monday, submitted that all elections in Nigeria have been rigged in one way or the other.
He argued that the only exception that might have been was the 1993 annulled election, which produced the late Chief MKO Abiola.
Okupe stated further that the verdict of the Supreme Court regarding the outcome of the 2023 presidential election in Nigeria has laid to rest all contentions about the polls which produced President Bola Tinubu.
The former presidential aide made the submission on Monday while addressing journalists in Lagos in reaction to online attacks from supporters of the 2023 Labour Party candidate, Peter Obi, popularly known as Obidients, who were criticising him for dumping their principal and backing the policies of the present administration.
He argued that life must continue after elections, and the citizens must patiently wait till the next election cycle to correct any observed grievances or imperfections.
“To me, the allegations of rigging do not hold water. All elections in Nigeria from the 1st Republic to date have been rigged in one way or another, except perhaps Abiola’s election. In America today, the majority of Republicans believe the election that brought Biden in as POTUS was rigged. However, the Americans did not bring down their country because of that. They patiently waited for the next election and are making efforts to correct the imperfections,” he said.