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The Organized Labour has lamented that some state governors are frustrating the success of the negotiation with the Federal Government on new minimum wage.
The Head of Department of Information, NLC, Benson Upah stated this while speaking on Arise TV on Monday.
He said, “The governors driving this mischief— we know them, and you can count them on your five fingers. These governors do not mean well, and they are throwing spanners in the works. While the Federal Government has moved slightly to N62,000, they are saying they can even pay N60,000 that was initially proposed, which is an act of mischief, and the numbers are against them.
“It’s a fact that what they share as FAAC has moved from N700b to N1.2trn and is climbing, and the states are very rich now.”
Upah also warned that it’s easier to manage the rage of organised labour than that of Nigerians.
“The issue is not about labour being difficult; we’re talking about something practical, testable, and reasonable. One thing I will say is that the rage of Labour will be easier to manage than the rage of Nigerians, even as we speak for and on behalf of these weak Nigerians.
“However, if they push Nigerians to the point that they have to live the life of a jungle, we’ll all become victims. A time shall come that is not too far away where you have to peep from your window three to four times before you step out of your own room,’’ he said
Recall that the Organised Labour last Tuesday suspended its nationwide strike for five days to allow uninterrupted meetings with the tripartite committee on the new national minimum wage.
The Federal Government, through the Secretary to the Government of the Federation, George Akume, stated that it is committed to paying more than N60,000 as the minimum wage.
However, the 36 state governors, under the umbrella of the Nigeria Governors Forum, NGF, have stated that the proposed N60,000 minimum wage is not sustainable and cannot be implemented.
When asked if he felt embittered against Peter Obi's popularity on social media, Sowore said, "This is the same narrative that I told you earlier. All these 'dem say, dem say,' can't you guys just come out and say this is how you feel? I don't have anything in common with Peter Obi. I do not crave his supporters.
A former African Action Congress presidential candidate, Mr Omoyele Sowore, has said he doesn't crave the support of ‘Obidient’ Movement, the supporters of Peter Obi, a former Labour Party presidential candidate.
The #RevolutionNow convener in a recent interview with Pulse Nigeria said he does not want supporters who will suppress and oppress people the way ‘Obidients’ do.
Mr. Sowore noted that if he had to have supporters who would lead him to victory to govern the country, he would not want them to be people who cannot question him or who will package him to the world as what he is not.
"If I had to have supporters in this world who would lead me to victory to govern this country, I don't want them to be people who cannot question me or who will package me to the world as what I am not. I don't want those kinds of supporters.
"I don't want supporters who will suppress and oppress people the same way these people are fighting our present people. I don't wish for supporters who would go to the extent of even arresting people because they say something they don't like on Facebook. I don't want those kinds of supporters. I don't want to be an ‘Obidient.’”
Speaking further, Sowore noted that “the word ‘Obidient’ in itself riles me that anybody would form an organisation that's obedient during the period of oppression”.
"It's like surrendering your sovereignty, in this case, your senses, to nonsense,” he added.
Stressing that he was not embittered against Obi, Sowore said, “Let me tell you, Femi Falana was defending the Labour Party during the same period we won our party back. We got a judgement that said the court cannot intervene in party matters, but it was not published.
"I was the one who gave Femi Falana a copy of our own, which was published, that they used in arguing against the people who wanted to ensure that Obi did not run in the 2023 election.
"That was what won them the case, and he became a candidate. Otherwise, he would never have become a candidate. I'm just telling you this, and I've said it publicly; they can't deny it.
"Femi Falana will tell you. You can call him, and he will tell you that's what happened. We gave them our party's judgement, made it available in the middle of the night, and they ran to court the next day and said there was a judgment from the Supreme Court.
"The judge ended that case right there based on that Supreme Court ruling, but at that point, it was unpublished.
"So, this is not the first time I will provide support to Obi. When Obasanjo tried to run him out of term in Anambra with Andy Uba, we were the same people who used Sahara Reporters to decode all their plans, which led to Obi being in office for eight years. I participated in that, and at the time, I thought Obi was genuine, but in subsequent years, I found that he was a fraud."
The Correspondent Chapel of the Kano State Council of the Nigerian Union of Journalists (NUJ) has declared boycotting all activities related to the Kano State Government, effective immediately.
This development followed an emergency congress meeting summoned by the Chairman of the chapel, Aminu Ahmed Garko, on Monday.
The outcome of the meeting attended by the correspondents was unanimously taken in response to the persistent and unacceptable maltreatment of members of the chapel in the state by the government and its agents while discharging their primary assignments.
The resolution reads: “Despite our efforts to engage with the government and its officials to address these issues, we have seen no improvement in the situation.
“Members of the chapel continue to face harassment, intimidation, and even physical assault while performing their duties.
“It is particularly concerning that the government has prioritized non-professionals over trained journalists, making it a state policy to sideline those who are best equipped to handle the job.
“As a result, we regret to announce that we will no longer participate in press conferences, cover government events, or conduct interviews with state officials until we see a tangible commitment to press freedom and the safety of journalists.”
The chapel urged all members to comply with this directive and join in the protest against the ill treatment of members in Kano State.
“We believe that a free and independent press is essential to a functioning democracy, and we will not stand idly by while our members are mistreated and intimidated,” the resolution concluded.
[DailyTrust]
The organised labour has vowed to reject any ₦62,000 or ₦100,000 minimum wage proposal for Nigerian workers by the federal government.
Speaking in an interview on Channels Television on Monday, the Assistant General Secretary of the Nigeria Labour Congress (NLC), Chris Onyeka, described such a proposal as a “starvation wage”.
Onyeka insisted that labour won’t accept the latest government’s offer of ₦62,000, saying that its latest demand as the living wage for an average Nigerian worker remains ₦250,000.
He said, “Our position is very clear. We have never considered accepting ₦62,000 or any other wage that we know is below what we know can take Nigerian workers home. We will not negotiate a starvation wage.
“We have never contemplated ₦100,000, let alone ₦62,000. We are still at ₦250,000, that is where we are, and that is what we considered enough concession to the government and the other social partners in this particular situation. We are not just driven by frivolities but the realities of the marketplace, realities of things we buy every day: a bag of rice, yam, garri, and all of that.”
Onyeka said the one-week grace period given to the Federal Government to review its proposal last Tuesday, June 4, 2024, would expire by midnight on Tuesday, June 11, 2024.
He said organised labour would meet to decide on the resumption of the nationwide industrial action if the Federal Government and National Assembly fail to act on workers’ demands by tomorrow.
He added, “The Federal Government and the National Assembly have the call now. It is not our call. Our demand is there for them (the government) to look at and send an Executive Bill to the National Assembly, and for the National Assembly to look at what we have demanded, the various facts of the law, and then come up with a National Minimum Act that meets our demands.
“If that does not meet our demand, we have given the Federal Government a one-week notice to look at the issues and that one week expires tomorrow (Tuesday). If after tomorrow, we have not seen any tangible response from the government, the organs of the organised labour will meet to decide on what next.”
When asked what the decision of labour would be should the government insist on ₦62,000, he said, “It was clear what we said. We said we are relaxing a nationwide indefinite strike. It’s like putting a pause on it. So, if you put a pause on something and that organs that govern us as trade unions decide that we should remove that pause, it means that we go back to what was in existence before.”
Minimum wage talks
After weeks of failed talks on a new minimum wage for workers in the country, organised labour, comprising the NLC and TUC, embarked on a nationwide strike last Monday to demand a new wage and the reversal of the electricity tariff hike.
The labour unions said the current minimum wage of ₦30,000 can no longer cater to the well-being of an average Nigerian worker, saying the government should offer workers something economically realistic in tandem with current inflationary pressures.
However, the labour leadership suspended the strike for five days after signing a commitment with the Federal Government to resume negotiations and come up with a new minimum wage within a week.
The suspension of the strike followed a six-hour meeting between the leadership of labour and the National Assembly in Abuja, on Monday night.
To fast-track the talks, the President, last Tuesday, directed the Minister of Finance, Wale Edun, to present the cost implications for a new minimum wage within two days.
Tinubu also directed the government representatives to work collectively with the organised private sector and the sub-nationals to achieve a new affordable wage award for Nigerians.
On Thursday, the finance minister presented the cost implications of implementing a new national minimum wage to Tinubu at the Presidential Villa, alongside the Minister of Budget and National Planning, Atiku Bagudu.
Before the directive, the minister described the proposal made by organised labour as “unaffordable. Also, the 36 state governors said labour union demand was not sustainable.
However, on Friday, June 7, 2024, labour and the government failed to reach an agreement. While labour dropped its demand again from ₦494,000 to ₦250,000, the government added ₦2,000 to its initial ₦60,000 and offered workers ₦62,000.
Both sides submitted their reports to the President, who is expected to make a decision and send an executive bill to the National Assembly to pass a new minimum wage bill, which the president will then sign into law.
[Punch]
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it has secured a seven-year conviction for Quadri Adeyinka, a staff member of the Nigeria Immigration Service (NIS).
The convict was said to have committed a travelling passport fraud.
In a statement on Monday, Demola Bakare, spokesperson for the ICPC, said the convict was arraigned before Jude Onwuegbuzie, a high court judge in Abuja, on a four-count charge bordering on gratification, conferment of corrupt advantage, and cheating.
Bakare said the offence contravened the provisions of the Corrupt Practices and Other Related Offences Act of 2000 and the Penal Code Act.
The spokesperson said Osuobeni Akponimisingha, counsel to the ICPC, led evidence before the court on how Adeyinka defrauded Ovie Ojeffia under the pretence of regularising his international passport.
He said that the convict received the sum of ₦100,000 from Ojeffia to regularise her passport but reneged.
Bakare added that the victim later petitioned the ICPC, which led to the investigation and arraignment of the convict before the court.
Onwuegbuzie, who found Adeyinka guilty on all four counts, sentenced him to seven years imprisonment each for counts 1 and 2, five years for count 4, and two years for count 3.
The sentences are to run simultaneously.
[TheCable]
The Organised Labour has said it will not accept any N62,000 or N100,000 “starvation wage” as the minimum wage for Nigerian workers.
It insisted on N250,000, being its latest demand at the last meeting of the Tripartite Committee on Minimum Wage on Friday, as the living wage for an average Nigerian worker.
This was made known on Monday by Chris Onyeka, Assistant General Secretary of the Nigeria Labour Congress, NLC, while fielding questions on Channels Television’s The Morning Brief show.
Onyeka said the one-week grace period given to the Federal Government last Tuesday, June 4, 2024, would expire by the midnight of Tuesday, June 11, 2024.
According to him, should the Federal Government and National Assembly fail to act on the demands of workers by tomorrow (Tuesday), the organs of the NLC and the Trade Union Congress, TUC, would meet to decide on the resumption of the nationwide industrial action relaxed last week.
“Our position is very clear. We have never considered accepting N62,000 or any other wage that we know is below what we know is able to take Nigerian workers home. We will not negotiate a starvation wage.
“We have never contemplated N100,000 let alone N62,000. We are still at N250,000, that is where we are, and that is what we considered enough concession to the government and the other social partners in this particular situation. We are not just driven by frivolities but the realities of the market place; realities of things we buy every day, bag of rice, yam, garri, and all of that.
“The Federal Government and the National Assembly have the call now. It is not our call. Our demand is there for them (the government) to look at and send an Executive Bill to the National Assembly, and for the National Assembly to look at what we have demanded, the various fact of the law, and then come up with a National Minimum Act that meets our demands.”
He continued: “If that does not meet our demand, we have given the Federal Government a one-week notice to look at the issues and that one week expires tomorrow (Tuesday). If after tomorrow, we have not seen any tangible response from the government, the organs of the Organised Labour will meet to decide on what next.
“It was clear what we said. We said we are relaxing a nationwide indefinite strike. It’s like putting a pause on it.
“So, if you put a pause on something and the organs that govern us as trade unions decide that we should remove that pause, it means that we go back to what was in existence before.”
Tinubu Govt To Probe Activities Of NNPCL Under Buhari As Forensic Audit Reveals N3.3 Trillion Inflated Figure in Fuel Subsidy
AFOLABI
A renowned global accounting firm, KPMG, has conducted a forensic audit revealing a notable inconsistency in the fuel subsidy claims filed by the Nigerian National Petroleum Company Limited (NNPCL).
According to a report from iWitnessLive, the audit uncovered that NNPCL had inflated its fuel subsidy claims by a staggering ₦3.3 trillion.
At first, NNPCL reported spending ₦6 trillion on fuel subsidy, with the former President Muhammadu Buhari’s government covering a significant portion of the expenses.
NNPCL’s Group CEO, Mele Kyari, claimed that the federal government still owed the company ₦2.8 trillion for petrol subsidy payments, a statement made shortly after President Bola Tinubu’s declaration of the subsidy’s removal
As per the May 2024 report, the government has not yet reimbursed NNPCL for this amount.
“Since the provision of the ₦6tn in 2022, and ₦3.7tn in 2023, we have not received any payment whatsoever from the Federation.
“That means they (the Federal Government) are unable to pay and we’ve continued to support this subsidy from the cash flow of the NNPC. We are waiting for them to settle up to ₦2.8tn of NNPC’s cash flow from the subsidy regime and we can’t continue to build this,” he said.
In light of KPMG’s reconciliation, which reduced the claims to ₦2.7 trillion, the Nigerian Government intends to undertake a fresh audit of NNPC Limited’s ₦2.8 trillion fuel subsidy claim.
The audit, spanning from 2015 to 2021, seeks to authenticate NNPC’s claims.
The Office of the Auditor-General for the Federation (OAuGF) will spearhead the audit, with the possibility of enlisting an external firm for supplementary assistance.
The resolution was reached at a Federal Account Allocation Committee (FAAC) session in March 2024, where participants deliberated on the necessity of an impartial audit to mitigate conflicts of interest.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, reiterated President Tinubu’s commitment to the forensic audit.
KPMG’s initial audit prompted the need for further investigation.
[Naija News]
Godswill Akpabio, Nigeria’s Senate President has said Aliko Dangote, the chairman of the Dangote Group shamed successive governments by completing 650,000 barrels per day refinery.
Akpabio said this when he led the leadership of the 10th Senate on a tour of the Refinery in Lagos. He referred to the refinery as the 9th wonder of the world.
Akpabio, emphasised that detractors of the refinery and “dream killers” have all been silenced and that indeed, previous governments have been put to shame with the completion of the project.
Akpabio stated that the whole Nigeria couldn’t make refineries function in Kaduna, Port Harcourt and Warri, but that Dangote and his team have proven that it is possible to dream and achieve it in Nigeria.
He further said the shame that came with the discovery of oil in Nigeria in 1958 has been removed by Dangote alluding to a report that India does not have oil but has refineries from where the country exports refined products, while noting that the inability of the nation to refine its oil has brought untold hardship on Nigerians so much so that Belgian government recently ban the exportation of dirty and condemned fuel to the country to West African country just because we can’t refine our own products.
“They told us in Abuja that Dangote Refinery is farce but we have come here and see for ourselves that the refinery is alive and running. Dangote has put to shame a lot of people. They are wondering how it will be possible for a single individual to accomplish what a whole nation could not accomplish; what 240 million people could not maintain; what a continent could not do and then one person will build 650,000bpd project”, the Senate President said.
“They keep wondering how one person can succeed where nations have failed; where continent has failed. But Dangote has done it. It is highly commendable. We came to see the refinery because we in the current senate believe in the Nigerian dream. We didn’t come as a doubting Thomas but we came because we believe the project, we came to rekindle the hope of Nigerians and the Nigerian’s can do spirit”, he added.
The Senate President also said Dangote deserved all the accolades for this feat noting that ordinary residence of Nigeria’s Vice-President could not be completed until after 14 years.
He assured that the National Assembly will give it what it takes to protect the project because its one project that Nigeria and indeed Africa should take the ownership and must be protected jealously.
He said the Senate and the entire National Assembly would come up with a robust legislation that would protect the project and others like it.
“Mr. Dangote, I pity you a lot because even your friends will envy you simply because they will keep wondering how can you succeed when nations, and continents have failed. Now that we have seen for ourselves, we are here to announce our own endorsement of this major project. It is also shocking to see that we produce sufficient fertilisers for Nigeria and enough to be exported.
“As I said we will do our report and we will speak to Mr President to put a stop to fertilizer import to Nigeria. You will hear from us soon”, Akpabio said.
The critical discussions on the new national minimum wage between the Federal Government and Organised Labour are poised to conclude today, with all eyes on President Bola Tinubu’s final decision.
The negotiations, which have seen proposals varying widely, are under pressure as the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) leaders have set a Monday deadline for resolution.
Last Friday, the Tripartite Committee on National Minimum Wage wrapped up its deliberations with the government and the Organised Private Sector settling on ₦62,000.
However, labour has maintained its stance, pushing for a ₦250,000 minimum wage, significantly higher than the government’s proposal.
The Nigeria Governors Forum voiced concerns, labelling any wage above ₦60,000 as unsustainable for state administrations. This contention highlights the ongoing struggle to balance worker demands with governmental fiscal capabilities.
Speaking to Punch, labour representatives disclosed that the outcome now hinges on President Tinubu’s response to the committee’s recommendations.
In a notable development, NLC President, Joe Ajaero, along with other senior union leaders, are currently attending an international labour conference organized by the International Labour Organisation in Geneva, Switzerland.
Labour plans to convene a National Executive Council meeting upon the leaders’ return. At this meeting, the president’s feedback will determine the future course of action, including possible strike measures.
The labour leader that spoke with Punch said, “We have submitted the report to the president and we are waiting for him to make his decision. That is the most important thing and that is what we are all waiting for.
“As it stands some of us are on the way to Geneva for the ILO conference. Some of us are going today (Sunday), some have gone already while others w“Before we can even hold a NEC meeting, we must come back from Geneva first. Also, we are trying to be careful so the government won’t say Labour is inciting citizens against the government. Also, you know they are in charge of the military so we are trying to be careful about that. This is why we are waiting.”
When asked about Monday’s ultimatum, another source within the NLC said, “Well, we have sent a report to the committee and we are expecting the president to act on it.
“We should hold a National Executive Council meeting regarding the ultimatum when we return from Geneva. It is very important for us to be there but right now, we are patiently waiting for the decision of Mr President.”
A coalition of Civil Society Organisations under the auspices of the Middle-Belt Pan Nigerian Forum has called on the 2023 Labour Party (LP) presidential candidate, Peter Obi, to accept the outcome of the 2023 presidential election won by Asiwaju Bola Tinubu.
The group said in a statement by its spokesperson, Danladi Ceceko, that the 2023 election was one of the most transparent elections in the country and reflects the will of Nigerians. It added that the verdict of the Supreme Court further validates the outcome of the polls.
The group spoke against the backdrop of the recent statement by Obi in which he compared the Nigerian electoral process to that of South Africa and described the 2023 polls as a show of shame.
However, Ceceko urged Obi to stop discrediting institutions such as the Independent National Electoral Commission (INEC) simply because he lost in the 2023 elections.
The group added that Obi himself had benefited from the same institution he is discrediting now when he was restored as the Anambra State Governor.
“It is evident for all to see that the 2023 general elections, especially the presidential poll, were among the freest and most transparent in our history,” Ceceko said.
“The outcome, upheld by the Supreme Court, is a true representation of the will of Nigerians, and it is time for all participants to accept the results and move forward.
“It is quite unfortunate that Mr. Peter Obi would discredit our institutions like INEC and the Supreme Court, which validated the credible elections conducted by INEC.”
Ceceko noted that if INEC was as problematic as some politicians have claimed, it raises the question of why there are calls from various quarters for the State Independent Electoral Commissions (SIECs) to be disbanded and for INEC to conduct local government elections instead.
“It is evident that the political elite who frequently malign the Independent National Electoral Commission (INEC) are often the same ones who oversee the worst elections in the country through the State Independent Electoral Commissions (SIECs)”.
The coalition also challenged the LP candidate to desist from biased comparison as the South African elections were not without their own challenges and technical glitches.
“We really need Mr. Peter Obi to do his due diligence and research before comparing INEC to other countries’ electoral bodies.
“The South African election also experienced technical glitches, which were well-documented.”
“It is hypocritical of Mr. Peter Obi to claim that the election which brought Governor Alex Otti of Abia was credible and transparent, while asserting that the election he lost was marred by irregularities.
It is worth noting that both elections were conducted by the same INEC under the leadership of Prof. Mahmud Yakubu.
“Furthermore, it is important to remind Mr. Peter Obi that he is one of the biggest, if not the biggest, beneficiaries of the very institutions he is currently maligning. It was the same Supreme Court that restored his allegedly stolen mandate in 2003.
Additionally, it was the same INEC that conducted the election that secured his second term victory in Anambra.”
The coalition argued that technical glitches during electoral processes are not peculiar to Nigeria and should, therefore, not be a basis to invalidate the entire process.
“Because there was a technical glitch on the portal of the South African commission, does that invalidate the outcome of the election in which the ruling ANC won?” the spokesperson questioned. “I think it is about time we start respecting our institutions and join hands with other Nigerians to make them work and even better,” the statement added.
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A chieftain of the New Nigeria Peoples Party (NNPP), Ambassador Olufemi Ajadi Oguntoyinbo, has called on governors across Nigeria to reduce their own salaries as a gesture of solidarity with the common worker.
This call comes in response to state governors’ collective rejection of the federal government’s proposed ₦60,000 new monthly minimum wage.
Halima Ahmed, the Acting Director of Media Affairs and Public Relations of the Nigeria Governors’ Forum (NGF), communicated the rejection under the banner of the NGF.
The Forum argued that adopting such a wage would financially cripple many states, which would end up using their entire monthly allocations from the Federation Account solely on salaries.
Speaking from Ibadan, Oyo State, Ajadi criticized the governors’ stance as “insensitive” and “wicked,” pointing out the disparity between their salaries and the proposed wage for workers.
He highlighted that the labour unions themselves had not yet accepted the government’s proposal, implying that the governors’ rejection was premature.
In his statement, Ajadi commended Edo State Governor Dr. Godwin Obaseki for independently initiating a ₦70,000 monthly minimum wage in his state.
He suggested that other governors follow his lead not just in wage adjustment but also in personal salary reductions.
The statement reads, “I am totally shocked that the governors could come out to say that they cannot pay the proposed ₦60,000 minimum Wage. That pronouncement by the governors showed that they are insensitive to the plight workers and the masses. I see it as a wicked pronouncement.
“In the first instance, they were too hasty in their reactions, as the Labour Unions have not even agreed to the proposal. If the governors are serving the people as they usually claim, they should cut their own salaries to ₦60,000 too. I will also suggest that the governors should be paid according to their qualifications. They should realise that the workers attend the same market their wives and children attended.
“Since the removal of subsidy, the Federal Government has jacked up the monthly allocation to the states. What are the governors doing with the money. Part of the money should be used to pay the new minimum wage when agreed by the tripartite committee. President Bola Tinubu has severally warned the governors to make use of the increase in the monthly allocations to better the lots of their citizens. So one is shocked that the governors have the effrontery to reject a merely N60,000 proposal.
“The question we need to even ask is, what can ₦60,000 buy in the present state of economy. It can’t feed a worker for two weeks, talk less of their dependants. When finally there is an agreement on the new minimum wage, I urge the governors to be sincere and ensure the prompt payment in their states.”
The pump price of Premium Motor Spirit, popularly called petrol, should drop to about N300/litre upon the commencement of massive production by the Dangote Petroleum Refinery and other indigenous producers, operators of modular refineries stated on Sunday.
However, they pointed out that this would be achieve when the government ensures the provision of adequate crude oil to local refiners, stressing that refineries abroad were ripping off Nigeria.
Speaking under the aegis of the Crude Oil Refinery Owners Association of Nigeria, they explained that what happened to the cost of diesel after Dangote started producing it, would happen to petrol price once it is being produced massively in Nigeria.
CORAN is a registered association of modular and conventional refinery companies in Nigeria.
“A lot of companies today benefit from the importation of petroleum products at the expense of Nigerians,” the Publicity Secretary, CORAN, Eche Idoko, stated.
He told our correspondent that “if we begin to produce PMS today in large volumes, provided there is adequate crude oil supply, I can assure that we should be able to buy PMS at N300/litre as the pump price.
“Why make Nigerians buy it at almost N700/litre when you know that if you allow refineries work the price will come down? Is it because you want to satisfy the global refiners abroad that are making so much from us?”
When told that there are arguments that it is not possible to have such a drop in price because crude oil, the raw material for PMS, is price in dollars, the CORAN official insisted that petrol price would crash once it is being produced massively by indigenous refiners.
He said, “We were selling diesel for N1,700 to N1,800/litre, but as soon as Dangote refinery started production he brought down the price to N1,200/litre. What other proofs do you need?
As I speak to you now there is every tendency that before December diesel price will drop further. The only reason reason why diesel is not doing below N1,000/litre is because of our exchange rate.
“If the exchange rate drops, diesel will drop below the N1,000/litre price. Now the exchange rate concern is because Dangote imports crude. If he is not importing, the exchange rate may not have so much effect, though he is still buying crude in dollars (in Nigeria) anyway.”
On May 18, 2024, The PUNCH reported that Africa’s richest man, Aliko Dangote, stated that following the laid-down plans of the Dangote refinery, Nigeria would no longer need to import petrol starting June this year.
Dangote had also stated that his refinery could meet West Africa’s petrol and diesel needs, as well as the continent’s aviation fuel demand. He spoke at the Africa CEO Forum Annual Summit in Kigali, expressing optimism about transforming Africa’s energy landscape.
“Right now, Nigeria has no cause to import anything apart from gasoline (petrol) and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” the billionaire had declared.
Also, Dangote had earlier in the year crashed the pump price of diesel to N1,200/litre when the commodity was selling at between N1,700 and N1,800/litre at the time.
He further dropped the price to below N1,000/litre, but could not sustain this price due to the rise in exchange rate. The refinery eventually returned the price to the initial rate of N1,200/litre.
Speaking on Sunday, the CORAN spokesperson stated that this was why the modular refiners had been calling for the sale of crude oil at the naira equivalent of the dollar rate.
“We have told them (government) that even the dollars that you are asking us to use and buy this product, it is detrimental to the country. Strengthen the naira. We will buy at the international market rate, but at a naira equivalent.
“These are the issues and they know these things but we can’t explain why they really can’t take decisions to change these concerns.
“Get crude to local refineries, allow crude purchase in naira equivalent, make the environment business-friendly and watch locally produced petroleum product prices crash,” Idoko stated.
Nigeria currently has 25 licensed modular refineries. Five of them are operating and producing diesel, kerosene, black oil and naphtha. About 10 are under various stages of completion, while the others have received licences to establish.
Operators of modular refineries earlier stated that aside from the five that are in operation currently, the remaining plants are embattled due to the major challenge of crude oil unavailability, a development that has stalled funding from financiers.
“Only about five of our members have completed their refineries. The others are having a major challenge.
“This challenge is that the people who are supposed to finance them have not disbursed financing for construction because they want some level of guarantee.
“A guarantee that if they finish the refinery, they are going to get feedstock, which, of course, is crude oil,” Idoko had explained.
Oil marketers also believe that the cost of petrol should be lower than its current price once its production begins in Nigeria.
They welcomed the comment of Dangote that his refinery should start pumping out petrol this month, and expressed hope that the cost would be less than the price which the Nigerian National Petroleum Company Limited currently sells.
“We expect a reduced price for locally produced PMS, as I’ve earlier told you,” the National President, Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, stated.
Maigandi, while speaking from Saudi Arabia with our correspondent on Sunday, also stated no date has been communicated to marketers on when Dangote would release petrol to the market. Officials of Dangote refinery have remained mute on this.
“It is a welcome development if the refinery can start releasing PMS this month because as marketers we are currently set to start buying the product from the plant,” Maigandi stated.
The IPMAN president earlier stated that marketers were discussing with the managers of the plant, but not specifically on petrol pricing.
“We have been discussing, but not about the price of petrol yet, rather on other matters such as the registration of members for the purchase of petrol and diesel from the refinery.
“It is true that we have started buying diesel from them, but you have to register with the company first. So a general registration is ongoing,” he explained.
Maigandi, however, stated that though marketers had yet to receive the projected price for petrol from the plant, dealers would want to see a PMS price of about N500/litre from the Dangote refinery.
“We are looking at having it (PMS) at any price below the NNPC rate. The price which NNPC sells petrol is N565.50/litre, so we are expecting something below that price, maybe around N500/litre,” Maigandi stated.
The oil dealers also joined in the call for the provision of crude oil to local refiners, stressing that this would impact positively on the prices of refined petroleum products.
“Of course, it is important for crude to be made available to local refineries because this will surely affect petroleum products’ prices positively,” the IPMAN president stated.
Regulators speak
The spokesperson of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, George Ene-Ita, said he was sure that the government has guidelines for the provision of feedstock (crude) to indigenous refiners.
Ene-Ita promised to provide additional information on the matter, as he stated that he could not give further details at the time he was contacted by our correspondent.
Recall that the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission, Gbenga Komolafe, had earlier promised that the government would ensure that crude oil was supplied to domestic refiners.
He stated that in compliance with the provisions of Section 109(2) of the Petroleum Industry Act 2021, the NUPRC in a landmark move, had developed a template guiding the activities for Domestic Crude Oil Supply Obligation.
“The commission in conjunction with relevant stakeholders from NNPC Upstream Investment Management Services, representatives of Crude Oil/Condensate Producers, Crude Oil Refinery-Owners Association of Nigeria, and Dangote Petroleum Refinery came up with the template for the buy-in of all.
“This is in a bid to foster a seamless implementation of the DCSO and ensure consistent supply of crude oil to domestic refineries,” Komolafe had stated.
The federal government has unveiled a lineup of activities to celebrate the 25th anniversary of Democracy Day, marking twenty-five years of continuous democratic governance in Nigeria.
The announcement was made in a notice issued by Abdulhakeem Adeoye, acting on behalf of the Director of Information and Public Relations in the Office of the Secretary to the Government of the Federation (OSGF).
The notice outlines that the celebration will start on Tuesday, June 11, with a symposium held at the State House Conference Centre, Presidential Villa, Abuja, commencing at 9:00 am.
Following the symposium, a youth conference is scheduled to take place at Ladi Kwali Hall, Abuja Continental Hotel, Abuja, starting at 6:00 pm.
The agenda for Wednesday, June 12, includes a grand parade at Eagle Square, Abuja, at 8:00 AM, followed by a dinner at the State House Banquet Hall, Presidential Villa, Abuja, at 6:00 PM.
“The programmes lined up for the celebration include a symposium on Tuesday, June 11, at 9:00 AM at the State House Conference Centre, Presidential Villa, Abuja.
“Later that day, a youth conference will hold at Ladi Kwali Hall, Abuja Continental Hotel, Abuja, at 6:00 PM.
“A grand parade will take place on Wednesday, June 12, at 8:00 AM at Eagle Square, Abuja,” followed by “a dinner at the State House Banquet Hall, Presidential Villa, Abuja, at 6:00 PM,” the noice read.
Furthermore, the notice assured to provide additional updates as the celebration comes closer.
Osun State Governor, Ademola Adeleke, has urged his daughter, Nike Adeleke, to find a partner and get married.
Adeleke gave the urge during a Q&A session on Nike’s Instagram page on Saturday.
Nike, who is approaching her 29th birthday, asked her father how he felt about her not being married yet.
“I am now 28 and I am about to be 29. How do you feel about me not being married yet?” she inquired.
In response, Governor Adeleke expressed his expectation for her to settle down soon, emphasizing that she is not getting any younger.
He then gave her a one-year ultimatum to get married.
“Better start getting ready to get married. That is the next thing. You think you are young? I am expecting all those your toasters, better bring one so you can come and tell me, ‘Dad, this is the one I am going to marry,'” he said.
He further highlighted that he had married and had Nike’s brother, Adesina, by the age of 28.
“Do you know that at the age of 27, 28 I got married and I had your brother Adesina? You are now 28, I am giving you one more year.”