Thirty years ago, Nigeria was in severe crisis. In the wake of the previous year’s elections that was annulled and the attendant protests, 1994 was an unpleasant time. General Sani Abacha had rigged his way into power through a coup and was setting the country on edge. Media houses had been shut, and journalists serially harassed and detained. Acclaimed winner of the 1993 presidential election, Moshood Abiola, was in prison along with scores of activists who had protested either the fuel prices inflation or the election annulment. Ken Saro-Wiwa too was in prison. The Niger-Delta region was restless due to the state-induced violence racking the region.

NADECO members were arrested and charged with treason for their audacity to challenge Abacha. Government critics had their homes raided, and some were attacked. That was the year Wole Soyinka went into exile. Decree after decree expanded the government’s power to punish. They could detain—without charge or trial—anyone suspected of subversive activities. The Senate that had been inaugurated the previous year was disbanded. Six of the lawmakers who had taken a stand against the government were arrested and charged with “treasonable felony and conspiracy.” They were initially granted bail, and five of them re-arrested months later. The sixth person? That was Bola Tinubu.

By now, I am sure you already see where I am going. As you would have read, this week the police arrested and charged 10 people who allegedly participated in the #EndBadGovernance protests last month for the same crime Abacha’s government had once arrested Tinubu: treason. Those 10 people, along with another 700 police said they also arrested, were some of the thousands who responded to the strangulating economic and political conditions the same way Tinubu and his fellow travellers did in 1994.

Tinubu is either forgetful of history or, since he once confessed that he took a major economic policy while under the influence of a “spirit,” has been fully possessed by Abacha’s ghost. It does not matter which is true; the shame is that a severe charge like treason is being trivialised by a government that cannot brook citizens towing the same path that brought him into power. I want to believe that Tinubu’s fellow pro-democracy activists, some of whom were imprisoned on frivolous charges during the dark days of Abacha’s rule, are looking at the unfolding chain of events and terrified at the uncanny repetition of history.

Wherever he is now, Abacha must be exultant. He should rejoice; he is not the only tyrant whose ignominious history would be tossed into the sewers of our national history. By the time their time passes, Tinubu and company would have personified the Orwellian pigs who became indistinguishable from the “man” they kicked out of the animal farm. When we find the mouth with which to tell the story, we will understand how we sought statesmen but were rewarded with executioners.

After reading the police’s press release issued by a fellow called Olumuyiwa Adejobi, I still fail to see how the protests are treasonable. Which “foreign sources” gave “substantial backing” to the #EndBadGovernance protesters? Or was it just that one Briton, Andrew Wynne, who constituted the so-called “foreign sources”? Given that last month, the Department of State Services also arrested about eight Polish nationals who were on an education tour in Kano State while the protests were ongoing, this might just be a case of using white Europeans to create a sensation. DSS spokesperson Peter Afunanya said those Polish nationals were arrested “because of where they were found during the protests and for displaying foreign flags.” I am yet to understand the method to the madness of this “foreign-phobia” among our security agencies.

There are several wild accusations in Adejobi’s document that need substantiating. I am not saying Adejobi plagiarised Abacha’s playbook, but the allegations are a frightful recrudescence of the military era. He says, “preliminary findings suggest they orchestrated and funded violent protests…to create anarchy and justify their illegal plot to overthrow…government.” But what is the pedigree of these individuals that they could organise what is tantamount to a coup? How would their supposed plan to overthrow the government through protests have led them to Aso Rock? Did they have an armoury, or the weapons of their supposed warfare were just placards? What were their plans to take over the National Assembly, for instance?

Adejobi also says they are investigating how these people planned to “orchestrate violence across the country”? I am genuinely curious how this bunch of individuals (including a shop attendant) can have the means to organise the violence that will disrupt the entirety of a complex country like Nigeria. Meanwhile, hear Adejobi on how they established Wynne’s guilt: We went to invade (Wynne’s) bookshop. As we asked questions, he came out. If you have a genuine business, are you not going to ask the police what we went to do in his shop or his office? You read that and you wonder at the quality of investigation that sort of rudimentary extrapolation of evidence can possibly produce. Meanwhile, let us not forget that the “comprehensive investigation” on which they planked their whole case took place in less than a month. If they are that efficient, how come they find it hard to solve kidnapping problems?

Whether they like it or not, protests are a democratic right. You can charge people who committed crimes of looting or violence during protests, but you cannot stifle the right to protest. I never thought the day would come that I would look back and compare Muhammadu Buhari’s government favourably with anyone, but looking wistfully from inside the fire of Tinubu’s government, I am beginning to think we were better off inside Buhari’s frying pan. Even in all his pathological madness, Buhari did not go to the extent of charging the #EndSARS protesters for treason. He did accuse them of trying to topple him, but the ghost of Abacha that had been haunting Aso Rock did not possess him fully. The ghost waited until the perfect person usurped his path into power before completing Abacha’s historic mission of perpetuating himself in power using democratic means.

You listen to the families of those arrested and you realise these people have no new game; they are stuck in historical time. Unfortunately, we are trapped along with them. The Nigeria of 2024 is not that different from that of 1994. There is hardship in the land. Prices of goods and services are skyrocketing; purchasing power is dwindling, and it is getting harder and harder to get by. The marriage of Asiwaju and Shettima of last year has become Àşetì 2023. Nobody’s hope has been renewed, and people are more combustible than the fuel they are expending hours on their lives on extended queues just to purchase. The days ahead are likely to be filled with protests, and the government is preemptively charging protestors with arrests to intimidate.

Meanwhile, this same government faces a million other challenges. There is economic insecurity, a serious threat to the lives and livelihood of Nigerians. Shouts of “ebi ń pa wá” have replaced the “on your mandate we shall stand” anthem in many mouths; hunger is resetting the political loyalties of those whose heads were climbed into power but have now been forgotten. The government appears confused by the complexity of the situation; they have undone several economic knots, and they know not how to re-tie them. Then there is the issue of kidnapping that has become a national epidemic and revealed the police as impotent. Let us not even talk about banditry, plus the one million problems of poor infrastructure that bedevil the country.

Rather than the Tinubu administration concentrating on what it can solve, it compounds its own problems by investing administrative time and energy hounding people for treason. Like the Yoruba door that eventually gets unhinged when endlessly swung back and forth, the Tinubu regime too has found the wàhálà that will wear it down. I almost feel sorry for them.

 

Punch

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 on the price of petrol from the refinery.

“We have not received any notice about its PMS price because he categorically stated that the NNPC is the sole off-taker of the product, which to us came as a surprise,” National Publicity Secretary of IPMAN, Ukadike Chinedu, stated.

He added, “We had expected Dangote to open up the market for proper competition. This shows that all these while the NNPC has been waiting for Dangote to release products, as it had reduced PMS importation.

“However, we are still waiting for them to tell us the price, but this, of course, will have its effect on the pricing of the product considering the fact that the cost of the commodity has increased at NNPC retail stations.”

There are strong indications that the price of petrol may hit N1,200/litre following the decision of NNPC to raise the pump price at its stations on Tuesday.

This is even as the Dangote oil refinery announced its determination to supply 25 million litres of PMS daily in September.

Nigerians woke up on Tuesday to see a change in the pump prices, from around N600 to N855/litre, and above, depending on the area of purchase at NNPC stations nationwide.

Sources told our correspondents that there was a directive to the retail outlets to increase petrol prices.

It was gathered that the recommended petrol prices vary by location, as some now sell at N900.

It was confirmed on Tuesday that NNPC outlets in Lagos increased their price to N855/litre.

The directive to raise petrol prices stated that the NNPC Retail Management approved an upward review.

This is coming barely two days after the company admitted it was having challenges to import fuel due to a $6bn debt.

However, the spokesperson of the NNPC, Olufemi Soneye, declined comments when our correspondent contacted him.

When our correspondent explained to him on WhatsApp that the statement had been making the rounds and reports from NNPC filling stations showed a rise in fuel prices, he replied, “Thank you for reaching out. I have no comment on the matter at this time. If there are any updates, I will make sure to inform you.”

Our correspondent gathered from depot operators that N250 has been added to the pump price.

It was observed that some major marketers have also jerked up their pump prices close to 900/litre.

The North West filling station in Onigbongbo, Lagos sold at N920 while Amuf in Ibafo, Ogun State sold for N1,000 per litre.

It was observed that the sudden price rise caused tension among motorists, who rushed to filling stations to engage in panic buying.

In Lagos, the few stations selling petrol had long queues, leading to traffic gridlocks in different locations.

It was also observed that many filling stations did not open for business while many marketers refused to lift fuel.

An official of a petroleum company at Apapa confirmed to our correspondent that no marketer was in their depot to load petrol as of 2pm on Tuesday.

This he described as unusual, saying many marketers may not be able to afford the new price.

Before now, NNPC used to sell petrol to major marketers below N600/litre, while the independent marketers bought from private depots for about N900.

While there are fears that the private depots may face tougher challenges with this new price, black marketers sold the

product at N2,000/litre on Tuesday in Lagos.

Some black marketers, who spoke with one of our correspondents at Victoria Island, Lagos, offered to sell five litres of petrol at N15,000. During price negotiation, they rejected N8,000, insisting that the least the five litres could go was N10,000.

25 million litres

The Nigerian Midstream and Downstream Petroleum Regulatory Authority disclosed on Tuesday that the Dangote oil refinery will supply a total of 25 million litres of petrol to the Nigerian market daily in September.

The NMDPRA said this will rise to 30 million litres from October.

In a short statement, the NMDPRA said it met with the NNPC to agree on local crude supply to the refinery.

“At the NMDPRA headquarters in Abuja, NNPCL reached an agreement to commence crude oil sale and supply to Dangote Refinery in local currency.

“The refinery is now poised to supply an initial 25 million litres of PMS into the domestic market this September. And will subsequently increase this amount to 30 million litres daily from October 2024,” the NMDPRA said on its X.

The PUNCH reports that the President of the Dangote Group, Dangote, formally announced on Tuesday that the 650,000-capacity oil refinery had commenced petrol production.

Dangote, who spoke at the refinery, said the supply of petrol to Nigeria would change the country’s energy landscape.

While appreciating President Bola Tinubu for approving the sale of crude in naira to local refineries, Dangote said many did not believe that the $20bn refinery could start petrol production.

He said the capacity of the refinery would meet local demands and the demands of sub-Saharan Africa.

Dangote disclosed that the petrol would get to filling stations in 48 hours after all arrangements with the NNPC were concluded, saying the queues would soon be over.

“Our PMS can be in filling stations within the next 48 hours depending on NNPCL,” he said.

“I pray that within the next few days, you won’t see any petroleum queues as soon as we finalise with NNPC. We are ready and we are waiting for them and I hope they will be ready like yesterday.”

Dangote told newsmen that he would not be able to disclose the price of the product, saying the NNPC was in a position to control the price.

“On the pricing, I can’t say anything because we don’t control the pricing; the pricing, at the moment, is controlled by NNPC, not Dangote. We will wait for them. But our own for now is to make sure that the product is available and round-tripping is stopped.

“People are just taking dollars out and not bringing the product. Most of the shenanigans will stop, that’s what I can guarantee you,” he stated

Dangote emphasised that NNPC was the company that would sell and distribute the product under the current naira crude sale arrangement.

“Once the NNPC is ready, we roll. We are even ready to load a ship this week,” he added.

He said Tinubu would deal ruthlessly with anyone who tried to stop the order that crude be supplied to local refineries.

Speaking further, the business mogul said the petrol and diesel from his refinery were clearer because they were of Euro 5 standard.

He said the fuel would have less emissions, saying it is good for the people’s health and engines.

“This is the sample of the petrol. You see it as a different colour, but that is the real deal. You are now going to have a good and genuine product. I am sure Nigerians have not seen this colour of diesel before. This is called Euro 5 diesel. It contains less than 10 parts per million of sulphur. This will help vehicles, engines, and generators last longer.

“The health of the people and the environment will not be compromised. This is the real deal,” he stated.

He also added that the Federal Executive Council was working on a new pricing arrangement for petrol produced from the Dangote Refinery.

“It is an arrangement which is designed and approved by the Federal Executive Council.

 “As soon as it is finalised, which he (Tinubu) is pushing, once we finish with NNPC, it can be today, it can be tomorrow, we are ready to roll into the market,” he said.

Dangote explained why the first sample of petrol from his refinery appears clearer than the petrol currently in circulation.

OPS predicts inflation

Meanwhile, the Organised Private Sector said the hike in petrol price, which signalled the removal of subsidy on the commodity, would lead to another round of inflation nationwide.

Following the sudden increase in petrol prices, NNPC stations adjusted their pump prices from N750 to N950/litre while independent marketers sold fuel for between N1,400 and N1,500/litre in Kano.

Motorists in Sokoto and Kebbi states expressed shock after NNPC stations adjusted the price of a litre of petrol from N620 to N900 in both states.

A motorist, Shehu Salman, said: “Honestly, this government has really shown its hatred for the masses. How can they increase the price of petrol at this period, when citizens are finding it hard to feed themselves?”

In Yola, the Adamawa capital, NNPC stations sold a litre for N1,000, with other stations selling between N1,200 and N1,300/litre.

In Maiduguri, NNPC sold at N897, others dispensed at N1,100.

Following the news of NNPC increasing fuel pump prices nationwide, Katsina State NNPC mega stations sold at N902/litre, which sold for N665 on Monday.

The NNPC fuel stations in Ilorin, the Kwara State capital, closed hurriedly following news of the increase in fuel price.

Two of the NNPC stations at Odota and Asa Dam road, which were selling fuel early on Tuesday, closed and told vehicles on the queue to go out of the stations after learning of the new fuel price.

However, some independent marketers sold the product for N1,100 and N1,200/litre.

Most filing stations in Ibadan, the Oyo State capital, on Tuesday adjusted upward the pump price of petrol, with independent marketers dispensing the product at N1,000 and N1,100/litre, with long vehicular queues.

An attendant at one of the NNPC substations said, “We have not received any directive that we should start selling fuel above N580 per litre.”

NNPC substations on Tuesday implemented the new pump price of N865 per litre in Ogun State.

One of our correspondents learnt that independent marketers adjusted their pump price from N850 to N980 and above.

On Tuesday in Rivers, NNPC mega stations dispensed N509/litre, while other filling stations in the state sold at N1,100.

In Edo State, the NNPC station on Sapele Road increased their pump prize from N591 to N881/litre, but had no product to sell to motorists who besieged the station.

However, other petrol stations sold the product for between N970 and N1,000/litre. In Bayelsa, NNPC sold the product for N890/litre, while prices of others ranged from N990 to N1200, which triggered an increase in transport fares in Yenagoa, the capital city.

In Asaba, the Delta State capital, NNPC mega station along Asaba-Benin road sold fuel for N850/litre, while ther filling stations dispensed for between N950 and N1,100/litre.

NNPC stations sold at N850/litre in Imo State, while other independent marketers sold at N999.

“The removal of subsidies is expected to lead to an increase in petrol prices, causing higher costs for consumers and businesses that rely on fuel. This could contribute to higher inflation,” the President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, Dele Oye, said

He added, “Higher fuel prices may put a strain on household budgets, especially for lower-income families who spend a larger portion of their income on transportation and essential goods.

“Businesses may need to pass on some of the increased fuel costs to customers, which could impact the prices of goods and services. The government has said that targeted cash transfers or other support measures may be introduced to help mitigate the impact on the most vulnerable populations.

“Ultimately, the full economic and social effects will depend on factors like the magnitude of the price increase, the government’s response, and how consumers and businesses adapt. We advise the government to avoid another increase, as the average Nigerian is already overburdened by the effect of currency devaluation and fluctuations, which has resulted in hyperinflation.”

Also, the Nigerian Association of Small-Scale Industrialists decried the inconsistency in policy over subsidy removal on petrol.

The National Vice President of the Nigerian Association of Small-Scale Industrialists, Segun Kuti-George, said the Federal Government’s earlier position on subsidy removal was different from the recent developments leading up to a possible fuel price hike.

“I’m not sure where the idea of subsidy is coming from again. I’m saying this because I thought that we had removed the subsidy. There is a great deal of inconsistency there,” Kuti-George asserted.

“In the very first minute of this government, they said subsidy is gone. So what subsidy are we talking about now?”

Kuti-George noted that the Federal Government’s failure to officially announce a return of oil subsidy through back channels has made it hard to properly assess the impact of the removal of the subsidy.

“They did not tell us that the subsidy had returned through the back door. The last thing we had was the subsidy was gone. So how and when did the subsidy come back? That’s the idea. Let us now leave all this and say, okay, the subsidy is now just going. It is now just going,” he added.

Kuti-George said a possible hike in fuel prices would mean harder times for people and businesses.

He decried the progression in PMS prices, as he noted that “a litre went for N950 in the previous day and since the NNPC recently announced a selling price of N885, it will amount to over N300, (higher than) what they were selling before.”

“We should be expecting something from between N1,300 and between N1,100 and N1,500 per litre,” the NASSI Vice President added.

Speaking with our correspondent, the Director-General of the Nigeria Employers’ Consultative Association, Adewale-Smatt Oyerinde, said, “The new pump price of petrol is not only worrisome but also unfair.

“We had expected that the Government will leverage on the momentum created by the completion of the Dangote refinery and the planned commencement of operation of the Port-Harcourt refinery to clear the obvious self-inflicted pain on Nigerians and progressively reduce the pump price of petrol. This seems not to be the case.”

According to Oyerinde, the new pump price could be seen as making Nigerians pay for the crass inefficiency in the NNPC.

“Rather than address the fundamentals that have made Nigeria a net importer of petrol, even when we have four refineries, the Government continues to inflict pain on Nigerians and inadvertently, contributing to the increase in cost of doing business,” Oyerinde mentioned.

“We urge that Government should have a rethink and do all that is necessary to address the continuous impoverishment of Nigerians and incapacitation of organized businesses,” the NECA boss stated.

Filling stations shut

The NNPC filling station in Isolo Ikotun was not selling PMS to customers due to the unavailability of stock.

Our correspondent learned from the station manager and one of the sellers that there was no fuel for sale as he observed that the station was deserted.

The manager, who did not volunteer his name, said, “We don’t have fuel, that’s why we’re not selling. I would be selling if I had fuel, it’s a business.”

A neighbouring Total Energies filling station in Ikotun also conducted no business save for a car driven by military personnel.

While the Total Energies station had some cars lined along the petrol dispensers, customers only stood waiting with no PMS in sight.

Motorists hiked transportation prices as the fuel scarcity grew worse on Tuesday across the country.

Lagos experienced significant disruptions due to an acute fuel scarcity. Several major filling stations across the city remained closed, prompting widespread frustration among motorists. Long queues formed at the few stations that were open, with many vehicles waiting for hours to purchase fuel.

It was observed that cars were lined up for miles, creating severe traffic congestion. In some instances, motorists were seen carrying jerrycans as they waited, highlighting the desperate measures taken to secure fuel.

A motorist at Shasha identified as Oluwasegun Timothy, shared his plight stating that, “I need to go to work, and finding fuel has become almost impossible. I’ve been using public transport to search for fuel and carrying a jerrycan in hopes of filling it up.”

The fuel shortage led to a sharp increase in transportation fares across the city. The fare from Ikeja to Berger surged to N700 from the previous N500, while from Oshodi to Egbeda rose to N700 from N400. This hike in fares is further straining residents who rely on public transportation for their daily commute.

A commercial driver identified as Chinedu, expressed his frustration, adding that, “Drivers have no choice but to accept these high fares because the situation is really bad. I had to wake up early to fill my tank to ensure it lasted as long as possible.”

In response to the ongoing crisis, in a statement made available to The PUNCH, the Director of Press & Public Affairs, Lagos State Taskforce, Gbadeyan Abdulraheem, stated that the Lagos State Taskforce conducted a major operation targeting illegal petrol sales.

The operation covered areas from Fadeyi to Maryland and Charity Bus Stop to Airport Road. During the sweep, six suspects involved in the illicit sale and display of petrol were apprehended.

“The current fuel scarcity is no excuse for individuals to exploit Lagos residents by reselling petrol at exorbitant prices.

“These unscrupulous practices not only add to the burden of already struggling motorists but also pose significant safety risks due to the highly inflammable nature of petroleum products.”

Akerele emphasised the Taskforce’s commitment to addressing these illegal activities and ensuring public safety

“We are determined to curb these illegal activities and ensure that the safety and well-being of the public are not compromised. The actions of these black market operators are not only cruel but also a severe threat to public safety, as improper handling and storage of petrol could lead to catastrophic fire disasters.”

Fuel scarcity also intensified in the Federal Capital Territory. Major roads in the Central Business District of Abuja, including those leading to the Nigerian National Petroleum Company Towers, were blocked.

Vehicles were seen parked in long queues as drivers searched for fuel, leaving many passengers stranded and forcing some to walk to their destinations.

At the Conoil fuel station opposite the NNPC Towers, a heavy security presence was observed, and the road was congested with vehicles, severely disrupting the free flow of traffic.

When approached for comment, an official at the station declined, stating, “Leave here, we’re not ready to talk to anyone.”

As of 11am on Tuesday, the Mobil filling station in the CBD of the FCT sold fuel at N989/litre. Meanwhile, prices in other fuel stations ranged between N1000 and N1100.

However, some drivers at the station entrance hinted at a possible price increase to N950 per litre. “We hear they’re about to increase the fuel to N950 or N1,000 per litre,” one driver said.

In response to the growing concerns, the Federal Government issued a statement denying any plans to increase petroleum prices.

The government refuted claims circulating on social media that the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, had instructed the NNPC Limited to raise petroleum prices by N1,000 above the approved pump price.

In a statement signed by Special Adviser on Media and Communication to the minister, Nnemaka Okafor, the government described these claims as “baseless, malicious, and a deliberate attempt to incite public discontent.”

“We challenge anyone in possession of any evidence—be it written documents, audio, or video recordings—that supports these fabrications to make it public. Such a claim is entirely devoid of truth and should be recognized as an intentional effort to mislead the public,” the statement read.

However, a few hours after the statement was issued, the NNPC price increase of N897/litre from N617/litre initial price surfaced at its filling stations.

Labour

Also, Organised Labour and stakeholders have slammed the Federal Government following the new pump price regime of Premium Motor Spirit introduced on Tuesday by the Nigerian National Petroleum Corporation Limited.

This was even as major opposition parties in the country urged the Tinubu administration to sack the management of the NNPCL.

They made the appeal in separate interviews with The PUNCH on Tuesday.

Our correspondent, who monitored the long queues across filling stations in the Federal Capital Territory, observed that the pump prices had jumped to between N900 and N970 per litre.

Reacting to the development, the Nigeria Labour Congress has tagged President Bola Tinubu as a betrayer following the astronomical hike in fuel price.

The NLC expressed shock in a statement signed by its president, Joe Ajaero, on Tuesday.

“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,” the Ajaero said.

Among other things, the Congress demanded an immediate reversal of the pump price, release of incarcerated protesters and reversal of the 250 per cent hike in electricity tariff.

“In the coming days, the appropriate organs of the Congress will be meeting to take appropriate decisions which will be made public,” he assured.

The Executive Director of the Rule of Law Accountability and Advocacy Centre, Okechukwu Nwaguma, also described the hike in pump prices as “alarming”, adding that the increase will exacerbate the cost-of-living crisis, and affect transportation costs, food prices, and overall inflation.

He accused the government of taking “anti-people” measures despite public outcry, stating that it was critical for the government to address the root causes of the economic challenges.

“The significant price variations across different regions, with some stations charging as high as N970, highlight disparities in access and affordability, disproportionately affecting lower-income households.

“The government continues to take anti people measures in utter contempt of the public’s outcry, which reflects widespread dissatisfaction and frustration with the government’s management of the economy. Citizens are left to bear the brunt of policy decisions without adequate support or relief measures”.

“It is critical for the government to address the root causes of these economic challenges, tackle corruption, minimise waste, show responsibility, sensitivity and compassion in their own lifestyles ,and implement measures that cushion the impact on citizens, such as subsidies or social support programs”, he said.

The National Coordinator of the Take It Back Movement and organisers of the #EndBadGovernance protests, Juwon Sanyaolu, said the movement was not surprised at the price hike, noting that the President had ignored protesters’ demands during the August 1-10 anti-hunger protests.

“The reason we have called for an October 1 nationwide protest is largely because Tinubu in his media broadcast on August 4th, completely ignored protest demands. Rather he went on gaslighting protesters and did even justify the repression against protests”.

“So we are not surprised that we are having a situation where the government, or the NNPC you may say, have increased the price of fuel, which is directly opposite to the demands of the protests, which was calling for the reversal of the price of fuel to what it was before May 29, 2023”, Sanyaolu said.

He said the TIB will again mobilise Nigerians to protest on the 1st of October, adding that the government had ample time to reverse the pump prices and grant their demands before the date.

“Obviously we are rejecting this increment pump price, and to resist this, Nigerians will be mobilised to the streets once again on the 1st of October this year. And of course, the government has a lot of time between now and the 1st of October to immediately address not just the reversal of the increased pump price, but also the entire demands of the protesters”.

‘No solution’

Reacting, the National Secretary of New Nigeria People’s Party, Dipo Olaoyoku, expressed disappointment in the current administration, saying it has squandered the hope of the masses.

Olaoyoku reiterated that it was high time the Tinubu administration swallowed his ego and seek for help to rescue the country from falling into total collapse.

He said, “I have been buying fuel in Lagos for N949 before now. It is now very clear that the present government has no solution to the problem of energy, especially petroleum products. In 2012, the same people in government protested during the time of Goodluck Jonathan when he increased fuel from N87 to N145. They sponsored what was called ‘Occupy Nigeria’ that almost brought that government down.

“As of today, the petrol selling at N855 is not even available for Nigerians to buy. When situation gets to this stage, it becomes worrisome. It is high time this government buried its ego and look elsewhere for people who can help them. It is now glaring that the problems of Nigeria is too much for this government. From energy, petrol, electricity, insecurity to foodstuff prices, the list is endless.

“It is no longer a matter of opposition wanting to take over the government. The opposition wants to help. But the ego of ‘We know it all’ won’t allow this government to acknowledge it. It is now very clear these people have no solution to the problems of this country. They still have three more years to go. So they should open their doors for people to advise them accordingly because the suffering is too much for Nigerians to continue bearing.”

‘Sack NNPCL now’

The National Secretary of the Labour Party, Umar Farouk, also shared the same sentiment.

While expressing disappointment, Farouk beckoned on the president to sack the board and management of the NNPCL to give way to people with fresh ideas.

“It is quite unfortunate we are facing this kind of situation. It is also sad that the NNPCL has not always been sincere and truthful to Nigerians about the situation of things. Today, the corporation will say they are not indebted to anybody and that subsidy is gone. Tomorrow, they will say another thing entirely.

“The present leadership of the NNPCL should not be allowed to remain in office. If the government wants to be taken seriously, it should sack all the officials of the corporation and engage fresh people for Nigerians to feel the impact of the new regime. It is one thing to increase the pump price and another thing not to make the product available to the people.

“How can they be visiting multiple problems on the masses just because of the inefficiency and incompetence of people in charge of the NNPCL? We are therefore calling on the government to dissolve the board and management of the corporation.”

‘Hike ridiculous’

Meanwhile, the Peoples Democratic Party and the Coalition of United Political Parties have criticized the Nigerian National Petroleum Company Limited and the Federal Government, denouncing the fuel price increase as heartless and reprehensible.

PDP Deputy National Publicity Secretary, Ibrahim Abdullahi, called on Nigerians to unite and not to despair.

He said, “It is an embarrassing development in the face of unprecedented and excruciating economic woes. Nigeria’s resilience has been exhausted to its rubicon.

“We have finally reached the breaking point with rooftop inflation, frightening insecurity, and pervading hopelessness in the land. Nigerians must rise in unison to put an end to this despair and apparent slide to dictatorship.

“The rise in price hike in PMS, just like other necessities, is callous, primitive and condemnable.”

CUPP National Secretary, Peter Ameh, on the other hand, urged President Bola Tinubu’s All Progressives Congress-led administration to address corruption in the oil sector rather than arbitrarily raising fuel prices.

Ameh expressed concerns that ordinary Nigerians cannot continue to endure hardship while their leaders live in luxury.

“It is a criminal arrangement. They cannot continue to make Nigerians suffer. There is no subsidy on electricity, there is a high interest rate, and now Nigerians cannot move around peacefully. Why do you increase fuel prices arbitrarily, without any consultation?

“This increase will affect inflation, the cost of food and services, and people will now begin to scramble to survive. This President Tinubu government has shown so much insensitivity to the plight of our people.

“Instead of increasing prices, they should address the corruption in the oil industry so that Nigeria can breathe. There is corruption in the oil industry.

“So for us the increasmnet is unacceptable, unjustifiable and it is totally condemnable. We cannot accept this continuous arbitrary increasmnet in price of fuel,” he stated.

Nigerians react

Meanwhile angry Nigerians took to the internet to vent their frustrations following the new price hike.

Popular singer Joeboy stated on X (formerly Twitter), “We’re an oil-producing nation with fuel scarcity. Nigeria is unbelievable.”

Another X user #Seriousist added, “Nigerians finished protesting, and after seeing how weak the protest was, Tinubu hit them with another fuel price increase for wasting his time.”

Tomi, with the username #tomiwebstr, expressed bitterness following the latest hike, saying it would make life even harder.

“Fuel is likely to stabilise at N1300-1500 per litre. The dollar has stayed above N1600, electricity is now unaffordable, and food? It’s a whole other issue. And when you try to complain, they accuse you of treason. I’m exhausted.”

“Nigeria is learning a tough lesson, and only God can save this country from the cold grip of APC,” Moses Emeka commented on Instagram.

Oluwabukolami Agboola prayed for God’s intervention amid the hike.

“You all have done enough; it’s time for God to intervene. This is too much,” she stated on Facebook.

Iorwuese Geshi believes that if Nigerians weren’t peaceful people, the fuel price increase would have triggered severe repercussions.

“In other places, no one would have had to tell Tinubu that there’s a problem,” Geshi wrote.

A frustrated John Odey stated, “Will there ever be a day when we wake up to the news of a significant price drop for anything in this country? Just one day?”

“Nigeria is the only country that’s giving God a headache,” Ezekiel Emmanuel jokingly remarked.

David Jacob expressed his disappointment saying, “They keep intimidating Nigerians, and yet some still support this ruthless government. They’ve monopolized Dangote fuel to profit from it, making life difficult for Nigerians. The scripture says, ‘The wickedness of the wicked shall be upon them.’”

 

Punch

 

ISWAP militants roared into a northeastern Nigerian village on motorcycles, opened fire on a market and set shops and homes ablaze, killing at least 37 people, according to a military official.

Residents said the death toll could be even higher, with villagers still missing and feared dead after fighters chased them into the bush.

The attack took place on Sunday afternoon in Yobe, one of three states at the frontline of an insurgency that has lasted 15 years. Thousands of Nigerians have been killed and more than 2 million displaced.

Yobe police spokesperson Dungus Abdulkarim said the attack in Yobe's Mafa village was apparent retaliation for the killing of two suspected Boko Haram fighters by local vigilantes.

After shooting at the market and torching buildings, the militants chased other residents into the bush and shot them, Abdulkarim added.

"The terrorists killed many people, but we are yet to ascertain the actual number of casualties," Abdulkarim said.

A military official who accompanied the army's commanding officer for Yobe to Mafa on Monday evening said the route to the village had been rigged with explosives, which troops managed to defuse.

"We recovered 37 corpses and brought them to Babangida General Hospital," said the official, who declined to be identified because he is not authorised to speak to the media.

Modu Mohammed, a resident, said several more residents were missing and estimated the death toll at over 100. He said some corpses were still in the bush.

 

Reuters

US charges Hamas leaders over Oct. 7 attack on Israel

The United States announced criminal charges on Tuesday against Hamas' top leaders over their roles in planning, supporting and perpetrating the deadly Oct. 7 attack in southern Israel.

The charges against Yahya Sinwar, the militant group's chief, and at least five others accuse them of orchestrating the Oct. 7 attack, which killed 1,200 people, including more than 40 Americans.

That attack triggered an Israeli assault on Gaza that has killed more than 40,800 Palestinians and laid waste to much of the territory.

"As outlined in our complaint, those defendants -- armed with weapons, political support, and funding from the Government of Iran, and support from (Hezbollah) - have led Hamas’s efforts to destroy the State of Israel and murder civilians in support of that aim," Attorney General Merrick Garland said in a statement.

The complaint names six defendants, three of whom are deceased. The living defendants are Sinwar, who is believed to be in hiding in Gaza; Khaled Meshaal, who is based in Doha and heads the group's diaspora office; and Ali Baraka, a senior Hamas official based in Lebanon.

The deceased defendants are former Hamas leader Ismail Haniyeh, who the group says was assassinated in July in Tehran; military wing chief Mohammed Deif, who Israel says it killed in a July airstrike; and Marwan Issa, a deputy military commander who Israel said it killed in a March strike.

Iran has blamed Israel for Haniyeh's death. Israeli officials have not claimed responsibility.

U.S. prosecutors brought charges against the six men in February, but kept the complaint under seal in hopes of capturing Haniyeh, according to a Justice Department official.

The Justice Department decided to go public with the charges after Haniyeh's death.

 

Reuters

WESTERN PERSPECTIVE

Russian missiles kill 50 in strike on Ukrainian military institute

At least 50 people were killed and 271 wounded when Russia hit a military institute in Ukraine's central town of Poltava with two ballistic missiles on Tuesday, the war's deadliest single attack this year.

Photographs posted on social media showed several bodies of young men on the ground covered in dust and debris, with the badly damaged side of a large building behind them. Reuters could not immediately verify the images.

"The Russian scum will definitely be held accountable for this strike," President Volodymyr Zelenskiy said on the Telegram messaging app.

He ordered a prompt investigation, saying the strike damaged a building of the Military Institute of Communications.

In his nightly video address, delivered later in the evening, Zelenskiy put the death toll at 51.

"It is known that there are people under the rubble of the destroyed building," he said. "Everything is being done to save as many lives as possible."

The emergency service gave a death toll of 50. Poltava Regional Governor Filip Pronin said 15 people may still be under the rubble.

Ukraine's land forces said military personnel had been killed. They did not specify how many of the victims were from the armed forces, but the attack was a major blow to Kyiv as it tries to bolster its ranks to hold off a more powerful enemy.

"The Land Forces Command is conducting an investigation to determine whether enough was done to protect the lives and health of the soldiers at the facility," a statement said.

The use of ballistic missiles - which hit targets hundreds of kilometres away within a few minutes of their launch - meant the victims had little time to find cover after the air raid siren sounded, the foreign ministry said.

"This is a stunning tragedy for all of Ukraine. The enemy hit an educational institution and a hospital," Ukraine's first lady, Olena Zelenska, wrote on X.

Some Ukrainians left worried messages on the institute's Facebook page seeking information about their loved ones.

"One of the institute's buildings was partially destroyed, and many people were trapped under the rubble," the defence ministry said on Telegram.

"Thanks to the coordinated work of rescuers and medics, 25 people were rescued, 11 of whom were taken from the rubble. The rescuers are currently continuing their work."

Russia did not immediately comment on the attack.

INCREASE IN MISSILE STRIKES

Russia has intensified its missile and drone attacks on Ukraine 2-1/2 years into the full-scale war.

Last week Ukraine was pummelled with the heaviest bombardment to date, and on Monday ballistic and cruise missiles targeted Kyiv causing loud explosions.

Ukraine targeted Russia with more than 158 drones during the weekend, damaging an oil refinery near Moscow and a power station.

Fighting has intensified over the past month, with Russian forces advancing in eastern Ukraine, while Kyiv's troops have mounted their first large-scale cross-border assault into Russia. Moscow has vowed to retaliate for the incursion into the Kursk region.

Zelenskiy repeated calls for more Western air defences and urged allies to allow their long-range weapons to be used for strikes deeper into Russian territory.

"We keep telling everyone in the world who has the power to stop this terror: Air defence systems and missiles are needed in Ukraine, not in a warehouse somewhere.

"Long-range strikes that can protect us from Russian terror are needed now, not some time later. Unfortunately, every day of delay means loss of life."

In Poltava, some 300 km (186 miles) southeast of Kyiv and 120 km (75 miles) to the nearest Russian border, Governor Pronin said about 150 residents had donated blood for the wounded.

Defence Ministry spokesman Dmytro Lazutkin told national TV that classes at the institute were underway at the time of the attack. He said the alarm sounded at 09:08 local time (0608 GMT) prompting people to rush to the shelter.

"A few minutes after the air alert, explosions sounded," he said, adding that there were no parades going on at the time.

It was not the first time Russia has struck military facilities away from the frontlines, causing mass casualties. Russia said in May 2022 that it hit a training ground for reserve forces in the town of Desna where Ukraine said 87 people were killed. In March that year, 35 people died in a Russian strike on a military base in the country's west.

 

RUSSIAN PERSPECTIVE

Russian forces shoot down Ukrainian MiG-29 fighter jet, 37 drones in past day

Russian forces shot down an MiG-29 fighter jet of the Ukrainian Air Force and 37 unmanned aerial vehicles in the past day, the Russian Defense Ministry said in its bulletin.

Here are the details of the combat actions that took place over the past day, according to the bulletin.

Battlegroup North

Units of Battlegroup North delivered strikes on the forces of the 36th Marine Brigade of the Ukrainian armed forces and the 103rd and 114th territorial defense brigades near Liptsy, Dergachi and Volchansk in the Kharkov Region. The Ukrainian army lost over 150 troops, a tank, an armored combat vehicle, three motor vehicles and a Grad multiple rocket launcher.

Battlegroup South

Units of Battlegroup South continued advancing deeper into enemy defenses, inflicting losses on Ukraine’s 24th, 32nd, 100th, 117th mechanized, 46th airmobile, and 10th assault brigades and 116th Territorial Defense Brigade. The Ukrainian army lost up to 710 troops, six motor vehicles, a US-made Paladin 155 mm self-propelled artillery piece, a US-made M777 155-mm howitzer, an Akatsiya 152-mm self-propelled artillery piece and a D-30 122-mm howitzer. Five field ammunition depots and an Anklav-N electronic warfare system were also eliminated.

Battlegroup Center

Battlegroup Center hit the troops and equipment of the Ukrainian army’s 31st and 53rd mechanized, 142nd infantry, 95th air assault and 109th territorial defense brigades near Druzhba, Panteleimonovka, Rozovka, Selidovo, Grodovka and Zavetnoye in the Donetsk People’s Republic. They repelled seven counterattacks by assault teams of the 59th motorized infantry, 144th infantry, 25th airborne, 12th and 14th National Guard brigades. The Ukrainian army lost up to 490 personnel, four armored combat vehicles, three pickup trucks, a US-manufactured M109 Paladin 155mm self-propelled artillery system and a D-30 152mm howitzer.

Battlegroup East

Battlegroup East moved to more advantageous positions, defeating the forces of the 31st and 72nd mechanized brigades of the Ukrainian armed forces and the 129th Territorial Defense Brigade near Bogatyr, Vodyanoye and Ugledar of the Donetsk People’s Republic. Russian servicemen repelled three counterattacks by the 72nd Mechanized Brigade of the Ukrainian armed forces. Over the past 24 hours, the enemy lost three motor vehicles and two Polish-made Krab 155 mm howitzers.

Battlegroup West

Units of Battlegroup West repelled an attack by the 30th Mechanized Brigade. The enemy lost up to 450 troops, two motor vehicles, a Polish-made Krab 155 mm howitzer, a UK-made FH-70 155 mm howitzer, and two D-20 152 mm howitzers. Nine field ammunition depots were destroyed.

Battlegroup Dnepr

Units of Battlegroup Dnerp hit the troops and equipment of the 128th Mountain Assault Brigade and the 141st Infantry Brigade of the Ukrainian armed forces, the 37th Marine Brigade and the 39th Coast Guard Brigade near Novodanilovka in the Zaporozhye Region, Berislav, Tokarevka and Kazatskoye in the Kherson Region. The Ukrainian armed forces lost up to 60 troops, two motor vehicles and a Msta-B 152 mm howitzer.

Air Force and air defenses

Russian air defenses shot down an MiG-29 aircraft of the Ukrainian Air Force, three US-made HIMARS rockets and 37 unmanned aerial vehicles.

Russian strategic aircraft, unmanned aerial vehicles, missile units and artillery forces eliminated an aviation munitions depot and delivered strikes on enemy troops and military hardware in 149 areas.

Tally of destroyed equipment

A total of 642 planes, 283 helicopters, 30,987 unmanned aerial vehicles, 575 missile systems, 17,811 tanks and other armored combat vehicles, 1,435 multiple rocket launchers and 13,985 field artillery mounts and mortars, as well as 25,539 special military motor vehicles, have been destroyed since the start of Russia’s special military operation.

 

Reuters/Tass

Founded in the year 578, Japan’s Kongo Gumi construction company is recognized as the oldest continuously operating company in the world.

Thousands of companies are founded and liquidated daily around the globe, many of which only operate for a few years, maybe even months. The world’s most valuable companies have only been around for a few decades and with technology changing the business landscape at breakneck speeds, who knows how long they’ll be around.

Today, there are only a few thousand companies older than 200 years, and even those seem relatively new compared to the world’s oldest continually operating company, Kongo Gumi. Founded in the 6th century by a Korean carpenter specializing in Buddhist temple construction, the Japanese construction company has been operating for a whopping 1446 years.

The history of Kongo Gumi can be traced back to Japan’s very first Buddhist temple, the Shitenno-ji in Osaka. In the late 6th century, Buddhism was spreading fast around Japan, and even though the Asian archipelago was mainly Taoist, the royal family was directly involved in the mass adoption of the new religion.

Building a Buddhist temple was an important step towards that goal, but the country had no craftsmen familiar with Buddhist temple architecture, so three such Miyadaiku were invited to Japan from Baekje, a kingdom on the Korean peninsula.

Kongō Shikō, one of the three miyadaiku invited to Japan to build Shitennō-ji, the country’s first Buddhist temple, founded the Kongo Gumi construction in the year 578. Records of its work on Shitennō-ji in modern-day Osaka can be found in “Nihon Shoki” (“Chronicle of Japan”), the oldest official history of Japan, so it is officially recognized as the country’s oldest continually operating company.

After completing Shitennō-ji in 593, Kongo Gumi remained actively involved in the building and restoration of Buddhist temples and shrines throughout Japan for almost a millennia. The Shitennō-ji temple played a big part in its success, but it wasn’t enough to ensure its survival for such an incredibly long period pf time. According to Hidekazu Sone, an associate professor at the Shizuoka University of Art and Culture, Kongo Gumi owes its longevity to the skill of its craftsmen and the management ability of its leaders.

Records show that throughout its existence, Kongo Gumi employed several groups of Japan’s most skilled carpenters and craftsmen, and it was precisely the competition between these different groups that led to the discovery and improvement of different techniques which in turn allowed the company to be several steps ahead of any competition.

Throughout most of its 1446-year history, Kongo Gumi was run by 40 generations of Kongo descendants, but Hidekazu Sone claims that family never allowed tradition to come before the good of the company. During the Edo Period (1603 – 1868), Kongo Gumi had serious competition from other groups of carpenters, so to ensure the survival of the family business, it only selected leaders with the necessary carpentry skills to inspire employees and good management skills. Documents show that the Kongo family didn’t always put its firstborn in charge of the construction company if they lacked the required qualities, and didn’t shy away from replacing leaders if they failed to display a commitment to their position. When the family had no male heirs, it made sure that the daughters married great carpenters and leaders for the good of the company.

Kongo Gumi faced many challenges throughout its existence, with some of the most notable being the Showa Depression of the 1920s, when Kongo Haruichi, the 37th leader of Kongo Gumi took his own life due to financial difficulties, and World War II, when demand for Buddhist religious buildings declined dramatically. However, it managed to stay afloat until 2006, when it was acquired by a much younger construction company from Osaka. At that point, it had accumulated large debts and could no longer operate independently.

Even though today Kongo Gumi operates as a subsidiary of the Takamatsu Construction Group, its impressive history is still an inspiration for its parent company and many others in Japan. No descendants of the Kongo family are involved in the management of the company, and only one descendant is currently employed by Kongo Gumi. The Kongo clan is still very much respected among Japan’s carpenters.

 

Oddity Central

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 of levies and disruption of market activities through the use of thugs.  

According to the notice, this was despite a previous court ruling restraining her from such activities, the traders allege that she has continued to meddle in their operations, causing significant disruptions. 

Background and allegations 

The Incorporated Trustees of Computer Village Market Traders and Stakeholders Joint Management is a legally registered entity under Part “C” of the Company and Allied Matters Act. The association comprises several groups, including the Phone and Allied Products Dealers Association of Nigeria (PAPDA), the Computer and Allied Products Dealers Association (COMTEAN), and the Association of Mobile Communication Devices Engineers and Technicians (AMCODET), among others. 

• According to the letter, the traders secured a favourable ruling from an Ikeja High Court in December 2020 under Suit No. ID/9039MFHR/19.  
• The court order permanently restrained Tinubu-Ojo and her agents from imposing and collecting any levies within Computer Village, citing a lack of legal basis for such actions. 
• Despite this ruling, the traders claim that Tinubu-Ojo has continued to engage in actions that infringe on their rights.  
• These actions allegedly include instigating thugs to disrupt lawful gatherings and pressuring the traders’ business partners to make payments directly to her. 

“Our client is not unaware that you have contacted our client’s several partners to make their commitments to you.  

“We have instructions to warn against any further demand or communication to our client’s partners including but not limited to Oppo, Proview, Samsung, Big and Bold et al because the commodity association of the Women and Men Market Association which is the basis of your appointment by the Lagos State Government has no membership in Computer Village,” the notice signed by Taiwo Olawanle and Adebayo Oniyelu of Falana and Falana’s Chambers read in part. 

The traders have also raised concerns about Mrs. Abisola Azeez, who was appointed as the Iyaloja of Computer Village under Tinubu-Ojo’s sanction. The traders assert that Mrs. Azeez has no shop or stake in Computer Village, further questioning the legitimacy of her role. 

Legal implications  

The notice draws attention to the limitations of Tinubu-Ojo’s powers under the Lagos State Market Advisory Council Law.  

• It notes that the law, particularly under Section 8, does not grant her the authority to collect levies or interfere in the internal affairs of markets such as Computer Village.  
• The traders argue that even if her office had such powers, Computer Village is not covered under the referenced law. 
• Falana and Falana’s Chambers, on behalf of the traders, warned Tinubu-Ojo against any further interference, emphasizing that continued violations will result in the pursuit of all available legal remedies, including claims for costs incurred. 

What you should know 

This development marks the latest chapter in the ongoing struggle for control over one of Lagos State’s most significant commercial hubs.  

The market traders had vehemently kicked against the appointment of an Iyaloja for them in 2019. According to them, the technological and commercial hub had been regulated by the Lagos State Ministry of Wealth Creation, and no Iyaoloja was needed to regulate their activities.  

They also argued that the Computer Village is a modern market and there was no relationship between technology and traditionalists. However, the appointment was not rescinded.  

The Computer Village is adjudged as the largest ICT market in West Africa and adds over N300 billion to the economy yearly.  

 

Nairametrics

Dangote Oil Refinery has begun processing petrol after delays caused by recent crude shortages, an executive said on Monday.

The $20 billion refinery on the outskirts of Lagos, built by Nigerian billionaire Aliko Dangote, began operations in January with output of products including naphtha and jet fuel.

With a capacity of 650,000 barrels per day, Africa's largest refinery promises to ease oil producer Nigeria's costly reliance on imported oil products.

"We are testing the product (gasoline) and subsequently it will start flowing into the product tanks," said Devakumar Edwin, a vice president at Dangote Industries Limited.

He did not say exactly when the gasoline would hit the local market.

Edwin said state-oil firm NNPC Ltd, Nigeria's sole importer of gasoline, would buy its gasoline exclusively.

"If no one is buying it, we will export it as we have been exporting our aviation jet fuel and diesel," Edwin said.

The delivery of gasoline into the Nigerian market will ease NNPC's struggleto supply the local market. The company is reeling with debts of $6 billion to oil traders for supply since January.

This has affected its ability to supply the local market where fuel queues have persisted since July.

Prices have jumped by 45% from the official price of 617 naira ($0.3942) announced after subsidies were removed last year.

“The news that Dangote is processing gasoline couldn’t come at a more crucial time given NNPC’s statement about its difficulties securing imported supply due to financial strain," said Clementine Wallop, director, sub-Saharan Africa at political risk consultancy Horizon Engage.

She said this "prompts the question of how NNPC will manage purchasing from Dangote, and impresses the need for greater transparency in its finances".

Nigeria is Africa's top oil producer yet it imports almost all its fuel due to years of neglect of its national refineries.

($1 = 1,565.0000 naira)

The Nigerian National Petroleum Company Ltd (NNPCL) has long been a symbol of mismanagement, corruption, and inefficiency, despite being the custodian of one of the world’s largest oil reserves. The persistent fuel shortages, mounting debts, and inability to fulfill its basic mandate of ensuring energy security have underscored the need for urgent reforms. The recent admission by NNPCL that it is struggling financially—owing international oil traders over $6 billion—highlights the severe crisis facing the company and, by extension, the Nigerian economy.

The NNPCL, now existing under the Petroleum Industry Act (PIA) as a limited liability company, was intended to operate independently of government interference, driven by principles of profitability, transparency, and efficiency. However, it remains shackled by political influence and remains a de facto extension of the government, an "ATM" for the Federal Government, as Atiku Abubakar aptly described it. This state of affairs not only contravenes the PIA's provisions but also perpetuates the same inefficiencies and corruption that have plagued the company for decades.

The Case for Privatization

Listing the NNPCL on the Nigerian Stock Exchange—and possibly on international exchanges—is not just an option; it is an imperative for the revitalization of Nigeria's oil industry and the broader economy. Privatization would bring numerous benefits:

1. Enhanced Transparency and Governance: As a publicly listed company, NNPCL would be subject to rigorous disclosure and governance standards. This would reduce the opacity that has allowed corruption to flourish within the company, fostering a culture of accountability.

2. Attracting Investment and Expertise: By opening up to private investors, including international oil companies, NNPCL can attract the capital and technical expertise needed to overhaul its operations. Successful examples like the Nigeria LNG and Eleme Petrochemicals—both of which have thrived under private management—demonstrate the potential for a restructured NNPCL to become a profitable and efficient enterprise.

3. Economic Growth and Job Creation: Privatization would likely lead to more efficient management of the company’s assets, including its long-comatose refineries. Revitalizing these refineries and other infrastructure could create thousands of jobs, boost local economies, and reduce Nigeria’s reliance on imported petroleum products, thereby improving trade balances.

4. Revenue Generation for the Government: The sale of NNPCL shares would generate significant revenue for the government, providing much-needed funds to address Nigeria's mounting national debt, currently at over N121 trillion. Moreover, a privatized NNPCL that operates efficiently would provide a steady stream of dividends and taxes to the government, rather than being a drain on the national budget.

5. Stabilizing the Oil Sector and Economy: With NNPCL’s financial woes directly contributing to fuel shortages and economic instability, privatization could stabilize the company, ensuring consistent fuel supplies, more predictable pricing, and greater energy security. This stability is crucial for the broader economy, which remains heavily reliant on oil revenues.

The Road Ahead: Privatization with Integrity

For privatization to succeed, it must be carried out with transparency and integrity. The process should involve reputable international institutions to ensure that the valuation, listing, and share distribution are handled professionally and without undue influence. It is essential that politically exposed persons and entities connected to past and present governments be excluded from acquiring significant stakes in the company, to prevent the perpetuation of the very issues that privatization seeks to resolve.

Moreover, the mistakes of past privatizations—such as the power sector, where inadequate investors left the country with underperforming distribution companies—must be avoided. The government must ensure that only credible investors with the necessary capital and expertise are involved in NNPCL’s privatization.

The NNPCL, as it currently operates, is a relic of Nigeria’s past, marred by corruption and inefficiency. Privatization offers a path forward, transforming the company into a profitable and transparent enterprise that can contribute positively to Nigeria’s economy. It is time for the government to muster the political will to divest itself of control, allowing NNPCL to truly operate as a private company, free from the shackles of political interference. The benefits of such a move—to the oil industry, the Nigerian economy, the people, and the government—are too significant to ignore.

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 the government to release the protesters, saying the planned mass trial is “a sham”.

“Amnesty International is deeply concerned that the #EndBadGovernaceInNigeria protesters to be arraigned nationwide tomorrow (today) are only going to be subjected to another round of government’s unrelenting intent to punish protesters and demonize protests,” the statement reads.

“We condemn the sham trials even before they begin and call for an end to these endless bizarre attempts to deprive people of the right to peaceful protest.

“What is going to happen to these protesters — who took to the streets last month — seeking good governance is a disguised exercise solely aimed at punishing dissenters.

“The Nigerian authorities must immediately and unconditionally release all those arrested from 1-10 August for exercising their right to peaceful assembly, instead of resorting to putting them through trumped-up charges just to justify unlawfully detaining them.

“The Nigerian government has been wrongfully placing priority on punishing protesters, without saying even a word on the urgent need to investigate the killing of dozens of protesters across Kano, Katsina, Suleja/Tafa, Jigawa and Maiduguri.

“Many protesters were subjected to horrific violations by security personnel, including excessive use of force and misuse of tear gas.

“Since the arrests of the protesters, Amnesty International has been receiving disturbing reports of violation of the rights of those detained through denial of access to family, legal assistance and medical care where needed.

“That dozens of minors are among those detained and possibly to face trial tomorrow is a travesty of justice.”

Amnesty said the planned mass trial is a “mockery of the rule of law”.

“The authorities have an obligation to uphold and protect fundamental human rights,” the statement adds.

“Instead of investing in desperate attempts to rush dissent, the government should listen to critics, and address rampant insecurity, corruption and mismanagement.

“Giving more attention to rescuing millions of Nigerians from the brink of starvation should be the top priority of government, not punishing protesters.”

 

The Cable