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Monday, 09 September 2024 04:53

Petrol importation to continue as NNPC, Dangote tango lingers

Oil marketers may begin the importation of Premium Motor Spirit, popularly called petrol, following the recent declaration by the Nigerian National Petroleum Company Limited that it would only fully offtake the product from the Dangote Petroleum Refinery if the market prices of the commodity were higher than the pump prices in Nigeria. NNPC also declared that Dangote and other domestic refineries were free to sell directly to any marketer on a willing buyer, willing seller basis, adding that it had no desire or intention to become the distributor for any entity in a free market environment. This is, however, contrary…

Monday, 09 September 2024 04:52

At least 48 killed in fuel truck explosion in Niger state

At least 48 people were killed on Sunday in a fuel tanker truck explosion following a collision with another vehicle in north-central state of Niger, the state's disaster management agency said. The State Emergency Management Agency in Niger state said the fuel truck collided with a truck carrying travellers and cattle. Several other vehicles were also caught up in the accident, it said. The agency's spokesperson Hussaini Ibrahim put the death toll at 48 and officials were still trying to clear the scene of the incident. Nigeria's state-owned firm NNPC Ltd last week hiked the price of gasoline by at…

Sunday, 08 September 2024 04:35

Petrol scarcity lingers as NNPC, Dangote feud worsens. This is what’s going on

The Dangote refinery may resort to exporting its Premium Motor Spirit (petrol) following the refusal of the Nigerian National Petroleum Company Limited to be the sole buyer of its product. The NNPC, in a statement by its spokesman, Olufemi Soneye, said on Saturday that it would not buy Dangote fuel unless it was cheaper than that of the international market. This is contrary to claims by the President of the Dangote Group, Aliko Dangote, that the refinery was waiting for the NNPC to roll out its product. On Saturday, the NNPC stated that it would only fully offtake petrol from…

Sunday, 08 September 2024 04:32

FG imposes levy on inflows into accounts of customers of Opay, Moniepoint, others

The federal government has imposed a deduction of N50 Electronic Money Transfer Levy (EMTL) from every inflow of N10,000 and above received by customers of Fintech companies, including Opay, Moniepoint, and others. In a notice to its customers on Saturday, the online payment platform stated that the charges in line with the Federal Inland Revenue Service (FIRS) regulations, will take effect from September 9, 2024. “Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance…

Saturday, 07 September 2024 04:57

‘A girl was asked, which party are you? APC, LP or PDP? She said: “I am hungry”’ - Kukah tells APC leaders to reduce petrol prices in order to stem hunger

Matthew Kukah, Catholic Bishop of Sokoto diocese, has asked the All Progressives Congress (APC) to prevail on the federal government to reverse the recent hike in the petrol price. Kukah spoke on Friday at the unveiling of the progressive institute (TPI), the tink tank of the APC. On September 3, the National Petroleum Company (NNPC) Limited increased the pump price of petrol to N897 across its retail outlets in the country. The price of the product was increased at petrol stations across the country, ranging from N897 per litre to over N1,000. The development followed a protracted scarcity which has…

Saturday, 07 September 2024 04:57

Verification portal shutdown by FG forces Nigerian nurses abroad to return home

The abrupt shutdown of the Nursing and Midwifery Council of Nigeria's (NMCN) verification portal in February has left numerous Nigerian nurses and midwives working overseas in distress. This closure has created obstacles for these healthcare workers, as they struggle to renew licenses and comply with international regulations. The inability to verify their qualifications has placed many in violation of visa and employment regulations, leading to legal repercussions. Reports indicate that several nurses in the UK and US have already returned to Nigeria due to the issue. One anonymous nurse, who had been employed by a UK Trust since September 2023,…

Friday, 06 September 2024 04:50

Petrol prices might go higher as NNPC says current prices still ‘not full market prices’

The Nigerian National Petroleum Company Limited (NNPC Ltd) on Thursday said it is not yet in its full market pricing of petrol. The Executive Vice President, Downstream of the NNPC Ltd, Segun Adedapo, disclosed this while speaking on the ARISE TV morning show on Thursday. “We are not at our full market pricing of Premium Motor Spirit (PMS) yet, and that’s why the behaviour of PMS pricing in Nigeria cannot be compared to those markets where the prices are fully market-based,” he said. In recent months, fuel scarcity hit major cities across Nigeria, with attendant effects on businesses and households.…

Friday, 06 September 2024 04:47

Ijebuland gets new leader of the Christian community

PRESS RELEASE The Christian Association of Nigeria (CAN) officially confirms the selection of Chris Olufunmilola Okunowo and Morenikeji Okunowo as the new Asiwaju Onigbagbo Akile Ijebu and YEYE Asiwaju Onigbagbo Akile Ijebu respectively. Their selection and confirmation to the prestigious titles are subsequent to their proven track records in diverse areas of service to the Christian Community in Ijebuland and beyond. No doubt, the distinguished couple possesses the qualities and traits required to hold these esteemed positions in the Christian Community of Ijebu land. Moreover, their interpersonal relationship beyond border, leadership prowess and dedication have consistently played significant roles at…

Thursday, 05 September 2024 05:01

Petrol scarcity worsens as price hikes push transport costs up 50% nationwide

The ongoing petrol scarcity in Nigeria has escalated with sharp increases in fuel prices, creating widespread disruptions in Lagos, Abuja, and other major cities. On September 3, 2024, the Nigerian National Petroleum Company Limited (NNPCL) adjusted the price of Premium Motor Spirit (PMS) to N855 per litre in Lagos and N897 in Abuja. The price hike has been accompanied by severe shortages, forcing motorists to queue for hours at the few operational filling stations, further straining daily activities. Across the country, transportation costs have surged by over 50%, aggravating the economic burden on citizens. In Abuja, Lagos, and other urban…

Wednesday, 04 September 2024 04:50

Petrol subsidy is gone again after it was ‘gone forever’. Here’s how it’s nationwide and what Nigerians are saying

Oil marketers are awaiting the price of Premium Motor Spirit, popularly called petrol, produced by the Dangote Petroleum Refinery, following the announcement by the plant that only the Nigerian National Petroleum Company Limited will lift the product from the refinery at the moment. PMS was officially launched on Tuesday by the $20bn plant located in Lekki Free Trade Zone in Lagos. The President of Dangote Group, Aliko Dangote, announced that the 650,000-capacity oil refinery had commenced petrol production. But dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria stated that they had yet to receive any notice…

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Tuesday, 03 September 2024 04:59

Lagos Computer Village traders threaten legal action against Tinubu’s daughter over imposition of levies

The Incorporated Trustees of Computer Village Market Traders and Stakeholders Joint Management, representing a coalition of market associations within the Computer Village, Ikeja, have issued a cease and desist notice to the Iyaloja-General of Lagos, Mrs. Folasade Tinubu-Ojo, over an alleged imposition of levies on the market. The notice dated August 28, 2024, a copy of which was seen by Nairametrics, was formally served by Falana and Falana’s Chambers on behalf of the association. The legal notice addresses multiple grievances that the traders have against Tinubu-Ojo, who is President Bola Tinubu’s daughter, particularly her alleged involvement in the unlawful collection…

Tuesday, 03 September 2024 04:56

Mass trial of #EndBadGovernance protesters ‘mockery of the rule of law’ - Amnesty

Amnesty International has condemned the planned mass trial of #EndBadGovernance protesters by the federal government. Nigerians staged a nationwide protest against bad governance and economic hardship from August 1–10. The protest turned violent in some parts of the country, with looting and vandalism recorded in some states. Subsequently, the police announced the arrest of perpetrators in some states. On August 16, Amnesty said over 1,000 #EndBadGovernance protesters were detained nationwide. In a statement on Sunday, Isa Sanusi, director of Amnesty International Nigeria, said the protesters include minors, adding that they have been denied access to lawyers. The rights group asked…

Tuesday, 03 September 2024 04:55

Briton declared wanted by Nigerian Police over ‘plot to overthrow Tinubu’ talks back at FG: ‘Protest isn’t treason’

Drew Povey, a British national declared wanted, has reacted to the allegation of building “a network of sleeper cells to topple” the Bola Tinubu administration “and plunge the nation into chaos.” On Monday, the police high command promised to reward any Nigerian who facilitates the arrest of Povey. Apart from Wynne, the Force also declared one Lucky Ehis Obinyan, wanted. In a Special Police Gazette Bulletin shared with journalists at Force Headquarters, the force accused the duo of terrorism financing, treasonable felony, cybercrime, subversion and criminal conspiracy. The police said the Briton has fled the country. It also said the…

Monday, 02 September 2024 04:44

Fuel shortages won’t end anytime soon, NNPC’s admitted financial woes confirm

The Nigerian National Petroleum Company Limited (NNPC Ltd) has raised alarms about its ability to sustain regular petrol supply across the country, citing significant financial strain due to escalating Premium Motor Spirit (PMS) supply costs. This financial pressure is now threatening the stability of fuel supply in Nigeria, according to Olufemi Soneye, the company's Chief Corporate Communications Officer. In a statement released on Sunday, Soneye acknowledged the company’s considerable debt to petrol suppliers, which has been highlighted in recent media reports. The NNPC’s financial difficulties stem from the gap between fixed pump prices and rising international fuel costs, exacerbated by…

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