Peoples Democratic Party (PDP) says the current price of a litre of petrol is “provocative” and that the product should not be sold for more than N150.

On Tuesday, oil marketers increased the pump price of petrol at retail outlets to N617 per litre in Abuja and N568 in Lagos.

The development elicited angry reactions from many Nigerians who held that the current price of the product will negatively impact a chunk of the country’s population.

Since the announcement of the removal of petrol subsidy by President Bola Tinubu on May 29, the price of the product has continued to rise.

The removal of subsidy on petrol means that the price of the product at filling stations will be determined by market forces.

Reacting in a statement on Tuesday, Debo Ologunagba, PDP spokesperson, said the price hike is “worsening the already suffocating economic situation” in the country under the All Progressives Congress (APC).

The party said Nigerians are losing their means of livelihood to the “badly planned and hurriedly executed” policies of the APC.

“The PDP is alarmed that with its ill-thought-out, badly planned, and hurriedly-executed policies, APC is running Nigeria’s economy aground with the value of naira rapidly plummeting, businesses and production shutting down,” the statement reads.

“The present dire situation comes as a consequence of APC’s insensitivity, seething corruption, scandalous cluelessness, and lack of capacity to effectively steady and manage the nation’s economy.

“The PDP dismisses APC’s insensitive and lame argument of market forces and comparison of price of fuel in Nigeria with those of other countries which have functional infrastructure, variety of affordable alternative transportation system and sources of energy.

“Our party insists that the N617 per liter of fuel is excessive, unacceptable, and cannot be justified under any guise. This is especially given the economic potential and prospects within our country.

“Even with the removal of subsidy on petroleum products, the PDP maintains that with a deft, transparent, and innovative management of resources, economic potentials, national comparative advantage, and expanded value chain in refining capacity, fuel should not sell for more than N150 per litre in Nigeria.”

In the build-up to the February 25 presidential election, Atiku Abubakar, PDP presidential candidate, vowed to end the petrol subsidy regime, while describing the scheme as a “fraud”.

The Cable

A Nigerian author and professor, Kole Omotoso, is dead.

He died at the age of 80 in South Africa where he had been ill for a while, a family source said.

Omotoso’s family is set to release a statement announcing his death later on.

Some of the works of fiction he authored include The Edifice and The Combat.

PT

Russian President Vladimir Putin will take part in the summit of BRICS leaders in South Africa via video link, spokesman Dmitry Peskov has said. The host nation announced earlier on Wednesday that the Russian leader will not attend the high-profile event in person.

Putin’s contribution to the gathering next month will be “comprehensive”despite its remote nature, Peskov told the Russian media on Wednesday. Foreign Minister Sergey Lavrov will travel to Johannesburg in person to serve as Moscow’s representative, he added, confirming a previous statement by the South African government.

Earlier in the day, the office of South African President Cyril Ramaphosa announced that the two nations had agreed that Putin would not travel to the country, sending Lavrov instead.

South Africa is a member of the International Criminal Court (ICC), which in March charged Putin with “kidnaping” Ukrainian children. Moscow dismissed the accusation as politically motivated, baseless, and coming from a Western-compromised entity.

Due to its status, South Africa would technically be obliged to attempt to arrest Putin and hand him over to the ICC, if he were to arrive on its soil. Ramaphosa’s office earlier warned that such a move could lead to war with Russia.

Peskov denied on Wednesday that Moscow had issued any threats to that extent, but argued that there was “no need for any explanation” of the risk.

BRICS is a club of large non-Western economies which comprises Brazil, Russia, India, China, and South Africa. In recent years, it has held virtual summits due to the Covid-19 pandemic.

Russia Today

WESTERN PERSPECTIVE

Russia warns ships in Black Sea, Ukraine to create temporary grains export route

Russia warned that ships sailing to Ukraine's Black Sea ports from Thursday will be seen as potential military targets, days after its withdrawal from a safe-passage deal that threatens to worsen global food supplies.

Ukraine said on Wednesday it was establishing a temporary shipping route via Romania, one of the neighbouring Black Sea countries.

"Its goal is to facilitate the unblocking of international shipping in the north-western part of the Black Sea," Vasyl Shkurakov, Ukraine's acting minister for communities, territories and infrastructure development, said in a letter to U.N. shipping agency, the International Shipping Organization.

The year-old pact brokered by the United Nations and Turkey to provide safe passage for cargo ships from the war zone ended after Russia's withdrawal on Monday. The last ship left Ukraine on Sunday.

Ukraine and Russia are among the world's top grain exporters. U.S. wheat futures jumped 8.5% on Wednesday, their biggest daily gain since days after Russia's Feb. 24, 2022, invasion of Ukraine.

Russia's Defence Ministry said flag states of ships travelling to Ukrainian ports would be considered parties to the conflict on the Ukrainian side from midnight Moscow time (2100 GMT on Wednesday).

Russia attacked the Odesa region on Monday and Tuesday nights. Grains terminals and an industrial facility, warehouses, shopping malls, residential and administrative buildings and cars were damaged on Tuesday night, Ukrainian officials said.

Ukraine's southern military command said Russia had used supersonic missiles, including the Kh-22 that was designed to take out aircraft carriers, to hit Odesa's port infrastructure.

The Odesa region's three ports were the only ones operating in Ukraine during the war under the grain deal that allowed Ukrainian grain exports safely through a Russian blockade of ports.

"In the ports that were attacked there was about a million tonnes of food stored," Ukrainian President Volodymyr Zelenskiy said in his nightly address on Wednesday. "It is precisely that amount that should already have been delivered to consumer countries in Africa and Asia.

"In the terminal damaged the most from Russian terror tonight, 60,000 tonnes of agricultural products were stored, intended for shipment to China," he said.

U.S. officials have information indicating Russia laid additional sea mines in the approaches to Ukrainian ports, said White House National Security Council spokesperson Adam Hodge.

"We believe that this is a coordinated effort to justify any attacks against civilian ships in the Black Sea and lay blame on Ukraine for these attacks," he said.

There was no immediate response from Russia on the U.S. assertion.

Russian President Vladimir Putin accused Western countries of "perverting" the U.N.-backed deal formally called the Black Sea Grain Initiative.

The International Monetary Fund on Wednesday said Russia's exit from the deal threatens to worsen global food insecurity and could increase food prices, especially in poor countries.

Putin said Russia would immediately return to the pact if all its conditions for doing so were met for rules to be eased for its own exports of food and fertiliser. Western countries call that an attempt to use leverage over food supplies to force a weakening in financial sanctions, which still allow Russia to sell food.

NO LETUP IN FIGHTING

Ukrainian officials reported no letup in fighting in areas of eastern and southern Ukraine where the army is pressing on with a counteroffensive it began in June to try to reclaim territory occupied by Russian forces. The Russians have dug into a heavily-fortified front line.

Valery Shershen, spokesperson for the southern front, told national television that Ukrainian forces advanced in two areas in order to reach ports on the Sea of Azov and sever the land bridge created by Russian forces between the east and Crimea, the Ukrainian peninsula annexed by Moscow in 2014.

Reuters could not independently verify the battlefield reports of either side.

In Washington, the Pentagon announced additional security assistance for Ukraine, totalling about $1.3 billion, with the package including air defence capabilities and munitions.

In Brussels, European Union foreign ministers are expected to discuss a proposal on Thursday to spend up to 20 billion euros ($22.4 billion) on weapons, ammunition and other military aid for Ukraine over four years.

** Fire at military base in Crimea forces evacuation of more than 2,000

A fire that broke out at the military training grounds in the Kirovske district on the Crimean Peninsula has forced the evacuation of more than 2,000 people and a closure of nearby highway, the Moscow-backed governor of Crimea said on Wednesday.

"It is planned to temporarily evacuate residents of four settlements - this is more than 2,000 people," Russian-installed Governor Sergei Aksyonov of Crimea said on the Telegram messaging app.

There was no reason given for the fire, which also forced the partial closure of the major Tavridy Highway.

Russia's Telegram channels linked to Russian security services and Ukrainian media reported that an ammunition depot was on fire at the base after Ukrainian overnight air attack.

Reuters could not independently verify the reports. There was no immediate comment from Ukraine.

Serhiy Bratchuk, spokesperson for the Odesa military administration in Ukraine posted two videos of a fire in an uninhabited area, saying, "Enemy ammunition depot. Staryi Krym."

Staryi Krym is a small historical town in the Kirovske district of Crimea. Russia annexed the Crimean Peninsula from Ukraine in 2014.

Social media videos and photos showed big flames and a smoky fire in an uninhabited area, broken by series of detonations. Some Telegram channels said that by 0730 local time (0430 GMT), the fire was going on for about three hours, still not being contained.

The fire comes two days after a blast damaged a bridge linking Russia to the Crimean Peninsula on Monday that Moscow blamed on Ukraine and for which President Vladimir Putin vowed retaliation.

Overnight, Russia launched an air attack on the Ukrainian port of Odesa for a second night in row. Ukraine's military also said that a drone attack at Kyiv was successfully repelled early on Wednesday.

RUSSIAN PERSPECTIVE

Failure of Ukraine's counteroffensive may lead to West's 'devastating defeat' — UK expert

The Kiev government, backed by the West may, be forced to agree to make territorial concessions to Russia, which would mean their "devastating defeat," an expert of the London-based Civitas think tank, Robert Clark, wrote in an opinion piece for The Daily Telegraph.

"If Kiev fails in its battlefield endeavors to split that land bridge, and retake much of its own territory by winter, then vocal calls of territorial concessions for marginal political outcomes will likely become far more prevalent - not just in Ukraine but likely from western capitals, as so-called "war-fatigue" begins to bite, international stockpiles of equipment and ammunition wither and politicians begin to worry about domestic budgets ahead of national elections," Clark said, adding that "governments across the west must be prepared for the grim prospect of territorial concessions."

In his opinion, the "long-planned counter-offensive, now in its second month, has run into several problems - not least that Kiev is still waiting for approximately half of the western military equipment promised earlier in the year."

"It is incredibly tough going for the Ukrainians," the expert continued. "This grueling endeavor was always going to take longer than the occasionally impatient international audience was prepared to wait for."

The analyst added that "the variable that isn’t on their [Ukrainian] side is time."

"The fighting will begin to grind to a cold halt as the freezing winter saps troops’ ability to conduct high-intensity warfare. This will only give Russia more time to further build up its defences, as it did last winter," Clark wrote. "By this point in the West, meanwhile, all eyes will be on the upcoming US election, with more political attention diverted by the UK’s general election. Kiev knows it has a shortened window of opportunity to capitalize on its battlefield initiative and take back as much ground as it can."

** Defense firm delivers new batch of T-90M, T-72B3M main battle tanks to Russian troops

The Uralvagonzavod defense manufacturer (part of the state tech corporation Rostec) delivered a new batch of advanced T-90M Proryv (Breakthrough) and upgraded T-72B3M main battle tanks to Russian troops, the Industry and Trade Ministry announced on Tuesday.

"Defense enterprises timely meet the needs of our Armed Forces for advanced and reliable hardware. This work is controlled by the Russian Government’s Coordination Council. Enterprises have gained a good pace. In particular, Uralvagonzavod has boosted output more than threefold over the past year and has now delivered the next batch of T-90M Proryv and upgraded T-72B3M tanks to Russian troops. This armor is especially in demand in fulfilling objectives in the zone of the special military operation," the statement reads.

Uralvagonzavod qualitatively and timely fulfils the tasks set by the state in providing the army with reliable military hardware, Uralvagonzavod CEO Alexander Potapov said.

"This is proven by invariably good assessments of Uralvagonzavod’s armor given by the military participating in the special military operation," the chief executive said.

T-72B3M and T-90M Proryv main battle tanks

The upgraded T-72B3M tank features new protection that considerably enhances its survivability and the efficiency of employing this armor both in a combined arms battle and in a combat environment with the massive use of anti-tank weapons.

The upgraded T-72B3 tank is also outfitted with a new fire control system that features an automatic process of preparations for fire and considerably raises fire accuracy. The tank is equipped with a 1,000 hp high-power engine.

The T-72B3M is an upgraded version of the T-72B3 tank that has received a new sight system with a digital display and a rear view video camera. The tank’s armor has been reinforced with Relikt reactive armor side plates. The tank has also received a new 125mm cannon with the enhanced barrel life, a new R-168-25U-2 Akveduk ultra-short-wave radio station, new fire-fighting equipment and a Sosna-U multi-channel gunner sight.

The T-90M Proryv is the most advanced armored vehicle in the family of T-90 main battle tanks and most of all fit for modern warfare thanks to its all-round armor protection, top-notch all-weather highly automated fire control and enhanced survivability.

The tank has received a fundamentally new turret differing from the serial-produced combat module and a more powerful 1,130 hp engine. The Proryv is outfitted with a 125mm tank cannon that can fire new powerful munitions and also missiles capable of wiping out enemy tanks from a range of 5 km.

The new multichannel sight enables the tank to employ its armaments at any time of the day or night. In addition, the option of exchanging data with other combat vehicles in real time has been one of the upgraded tank’s major advantages.

Reuters/Tass

In at least 70 recorded cases of police brutality in the United States, the victim cried out three words: I. Can’t. Breathe.

From Eric Garner in 2014 to George Floyd in 2020, people hogtied or put in a chokehold cried out those words but were ignored by officers who thought they were lying or exaggerating their distress. If they could still talk, they were still breathing. Such presumption of how far the police could stretch the thread of life caused many of them to be needlessly snapped. Those words would eventually become the rallying cry of the 2020 global #BlackLivesMatter protests.

That appeal for the breath of life has become another rallying cry. This time, in Nigeria, and against the strangulating economic policies of a government that seems bent on carrying out harsh economic reforms without either mitigation or assurance of how and when the pain will end. For a country where 63 percent of its population is officially classified as “multidimensionally poor,” far too many people are not breathing. All the time they have protested the chokehold, our leaders (and their arrogant spokespersons) took the wails as nothing more than outright lies, exaggeration, or mere expression of partisanship. As long as people can still talk, they cannot possibly be dying.

The cries for breath finally gained enough traction lately. “Let the poor breathe!” has become the contemporary slogan of Nigerians confronting galloping inflation and dwindling purchasing power. Given how virtually everyone is buffeted on all sides by a tottering economy and the concomitant rising unemployment and poverty, government aides cannot pettily chalk down the ongoing angst to “wailers” doing their thing. There is a crisis at hand, that much is clear to even the willfully blind. What is not evident so far is if the government thought through its policies to create well-structured plans to mitigate the hardship. Will the poor eventually breathe or the shock therapy will kill them?

Ironically, “let the poor breathe” was mouthed by Bola Tinubu, the very person whose administration rained down one harsh policy after the other. In an undated video circulating online you see him in his characteristic populist manner, asking the state to “let the poor breathe, don’t strangulate them.” Well, now that he is president and the appeal has become self-directed, we see how far from his mouth his heart is. Populism is cheap until you have to do the actual work of governance. Just like he loudly criticised former president Goodluck Jonathan on the removal of fuel subsidies only to go forward with the policy without either a coherent plan or even an adequate preparation for what would come afterwards, we are left wondering why the man who wanted the poor to breathe is raising the price of oxygen. By now, he has probably learned that governing a small territory like Lagos where the head of every key social and political actors have been forced in-between his thighs is not the same as ruling over the murky and unwieldy terrain called Nigeria. For someone who won the election almost five months ago, he has not even appointed a cabinet.

Let me be clear that some of the policies that have contributed to the hardship under Tinubu are not bad in themselves. Fuel subsidies, for instance, were long overdue for removal. As I have previously noted, asking the government to leave the subsidies and fight corruption instead is merely postponing the inevitable. The problem was the execution: abrupt removal rapidly compounded with taxes, and no clear plan to manage what would follow.

So far, nothing suggests that Tinubu planned for the fallouts of his policies and has the wherewithal—the intellectual and administrative means—to tidy up what he started. First, they promised a cash transfer of N8,000 per household for six months to mitigate the hardship unleashed by fuel subsidy removal, then his aides came out to clarify what everyone got wrong about the proposed intervention, and then finally announced their reversal of their plans. That indecisiveness does not demonstrate a certainty and purposiveness on their part. Like his predecessor who ended up thoroughly confused by the complexity of the Nigerian troubles that he simply gave up, Tinubu too is on his way to demystification.

These days, when you hear “let the poor breathe!” from Nigerians, it could be a genuine appeal for their survival, a sneer at the duplicity of the government whose interest in the poor does not run farther than the next election, or jeers at the folly of ever investing hope of economic and moral renewal in an unempathetic government. Unlike the African American victims of police brutality that were not taken seriously because they could still talk, the Nigerian government actually wants you to shout yourself to death. There is enough about their conduct and attitude to the public that demonstrates that they take some perverse pleasure in hearing Nigerians cry for breath.

In this same country where we are faced with skyrocketing food and energy costs, strangulating national debts servicing, and depreciating infrastructure, our leaders still manage to expropriate the oxygen of the impoverished for themselves. Look around Nigeria. Despite the crisis blowing up and causing genuine anxiety, the politically powerful and privileged are breathing just fine.

The lawmakers, for instance, will get a whopping N110bn to buy themselves SUV and other perks that will make their offices lush enough to make them forget what took them to the FCT in the first place. No matter how loudly we complain that they are draining our blood to pay for these privileges, they are not going to listen. If the poor dies, the poor dies! They did not become lawmakers because they had either an interest in the poor or were enamoured by the rigour that goes into debating laws. There are there because the office pays handsomely well, simple. There is little else to the enterprise of lawmaking in Nigeria than local politicians acquiring political and economic capital. That is why nobody ever sees them debate from any ideological angle eruditely, convincingly, and morally.

They are not alone. Several outgoing leaders who departed their respective offices on May 29 too will not release their chokehold on the nation. In four to eight years when they were in power, they took and took and took and gave nothing back. Interestingly, it is those who the least to show for their mandates that are carting away the most. There is some correlation between being lazy, unimaginative, and brazenly greedy. From Mrs. Aisha Buhari who demanded first ladies should also be officially apportioned retirement benefits, to the likes of former Benue governor Samuel Ortom whose officials carted away public resources, to recently retired service chiefs who will get humongous benefits, Nigerian leaders are a gluttonous lot. When it comes to self-enrichment and self-perpetuation in spaces of power, they can be more efficient than a factory machine. Ask them to transfer those skills to improve the lives of the poor, and they become genuinely confused.

In Nigeria, everyone shouts “let the poor breathe!” because “the poor” is no longer a distinct (and distant) category. Poverty is encroaching into everyone’s reality; each one of us is only a few steps away from being “the poor.” At this rate, it is only a matter of time and to what degree one’s social support networks can hold up.  The resonance of demanding for breath for a race across continents is uncanny. From institutional racism to unimaginative government, something must kill the black man. If we are not held in an economic chokehold, we are hogtied by spiritual and social forces, beaten down by the anarchy in our societies until we lie prostrate with the foot of our leaders placed around our necks.

Punch

Business leaders who walk in workers' shoes are better than those who spend their days holed up in their corner offices. 

The reason seems clear: if you experience the company through workers' eyes, you will know the pain your company causes them. From there, you can remove the barriers that keep employees from delivering the most value to your customers. That will be good news for workers and investors.

If you issue edicts from the confines of your spectacular office, you run the risk of angering workers. That could send the most talented people – who find it repulsive to follow blindly your edicts - running for the exits. 

The employees who stick around will lack the initiative and creativity to solve customer problems - costing your company market share and lowering its equity value. For these reasons, I think business leaders should consider the benefits of spending time in their workers' shoes. 

This could mean working undercover in jobs that interact with your company's customers. In so doing, you will gain much greater insight into what workers like and dislike about your company. 

Here are four examples of how undercover bosses made life better for their employees by eliminating processes that frustrated them.

1. Eliminating annoyances for Uber drivers

Uber CEO Dara Khosrowshahi spent time as a driver to learn and fix what made life difficult for scarce drivers.

This experience resulted in changes that improved the driver experience. As the Wall Street Journal reported, Uber has since made several changes such as "streamlining the sign-up process for workers and giving drivers more information about the destination before they accept a ride." 

2. Cancelling 12,000 meetings at Shopify, Wayfair and others

Executives at Shopify, Wayfair and Reynolds American concluded that meetings waste thousands of hours and reduce employee productivity. 

Shopify freed up 12,000 events from employees' schedules - by canceling recurring group meetings, banning most Wednesday meetings and scheduling all gatherings with over 50 people in a six-hour Thursday window - to free up 95,000 staffer hours, the Journal reported. 

3. Making life better for cooks, servers, and bussers at Chili's

Over the last few years, I have seen firsthand how restaurants suffered because they lacked sufficient staff. The labor shortages reduced service quality and angered customers. 

While many restaurants raised pay, improved benefits, and provided workers more scheduling flexibility, the best ones have done more to make life better for workers.

For example, Chili's Bar & Grill rejiggered its menus and streamlined its processes to reduce wasted time. As the Journal noted, Chili's eliminated menu offerings, added bussers, and canceled tasks such as counting and bagging shrimp and deploying metal French-fry baskets. The last item alone eliminated the 40 million times each year workers formerly lined and cleaned the baskets.

4. Cooling off airport ground crews for British Airways and others

One of the more difficult jobs on the planet is working in an airport grounds crew helping airplanes that arrive and depart from gates. The job is so difficult that many workers can only do it for a couple of months and others "walk right off the tarmac and never return," according to the Journal.

Some airports are taking steps to enhance the airport ground crew experience. 

For example, British Airways provides its ground crew with more weather-resistant uniforms. airport contractor Swissport outfitted break rooms with TVs, lockers, and coffee makers and put up tents where workers get sprayed with cooling mist between aircraft turnarounds. The operator of Frankfurt Airport gives workers ice cream on the tarmac. 

I admire how these organizations identified and eliminated the unnecessary pain they used to impose on their workers. Business leaders who have yet to do this are at risk of losing their most talented people - costing them customers and shareholder value.

Inc

Women’s hurdles world record-holder, Tobi Amusan, on Wednesday said she has been charged with an alleged anti-doping rule violation, casting doubt on her participation in next month’s world championships.

“Today the Athletics Integrity Unit (AIU) has charged me with an alleged rule violation for having 3 missed tests in 12 months,” she said in a post on Instagram.

The Nigerian athlete set the current world record for the women’s 100m hurdles of 12.12 seconds at last year’s World Athletics Championships.

Amusan, 26, vowed to resolve the charges against her before this year’s competition, set to be held next month in Budapest.

“I intend to fight this charge and will have my case decided by a tribunal of 3 arbitrators before the start of next month’s World Championships,” she said.

“I am a CLEAN ATHLETE, and I am regularly; (maybe more than the usual) tested by the AIU – I was tested within days of my third ‘missed test.’ I have FAITH that this will be resolved in my favour and that I will be competing at the World Championships in August.”

On Sunday, Amusan took part in the Silesia Diamond League competition in Poland, where she set a new meeting record of 12.34sec.

At the Golden Spike athletics meet in the Czech Republic last month, she finished in third place in the women’s 100m hurdles, losing to reigning Olympic champion Jasmine Camacho-Quinn of Puerto Rico, who claimed victory in 12.42sec.

When asked by reporters about improving her world record pace, she said: “Nothing is impossible and 11 seconds? Most definitely”.

But she was less confident about an ongoing debate on raising hurdles to give priority to technique over speed.

“Don’t do that, don’t raise the hurdles. Please,” said Amusan, who is 5’1 (156 centimetres) tall.

AFP

There was widespread anger by Nigerians, on Tuesday, following the hike in the pump price of Premium Motor Spirit, popularly called petrol, by the Nigerian National Petroleum Company Limited and other oil marketers across the country.

In Abuja and Ondo State, for instance, the cost of petrol jumped from about N537/litre to between N617 and N630/litre, forcing the cost of transportation to skyrocket within hours, and leaving thousands of passengers stranded in many cities.

Nigeria Labour Congress, Trade Union Congress and many other citizens lambasted the President Bola Tinubu-led Federal Government for being so tough on citizens by allowing the continued hike in the price of petrol.

Although NNPCL and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, both Federal Government entities, explained that market forces caused the hike in petrol price, since the commodity had been fully deregulated, Nigerians expressed frustrations over the continued sharp increase in the cost of the product.

It was observed that petrol price was raised from N537/litre to N617/litre at some filling stations operated by NNPCL in Abuja on Tuesday.

Independent oil marketers confirmed the increase in the cost of the commodity, as they stated that any shift in price by NNPCL stations was an indication of a rise in the pump price of PMS.

“This is because NNPCL is still the major importer of petrol into Nigeria currently, though other marketers are gradually importing the commodity. The price this (Tuesday) morning at some NNPCL stations is N617/litre,” Secretary, Independent Petroleum Marketers Association of Nigeria, Abuja-Suleja, Mohammed Shuaibu, told one of our correspondents.

Tinubu had during his inaugural address on May 29, announced that subsidy on petrol had ended, a development that led to the jump in the price of the commodity from N198/litre to over N500/litre on May 30, 2023.

Since the withdrawal of subsidy on petrol and the floating of the naira against the dollar, marketers had continued to explain that the cost of PMS could rise to as high as N700/litre.

Similarly, the rise in the cost of crude oil in the international market has also triggered further hike in petrol price, as crude is the product from which PMS and other refined petroleum products are produced.

In Abuja, on Tuesday morning, motorists besieged filling stations that were still dispensing at N540/litre, but as the news of the hike in price by NNPCL stations filtered in, many independent outlets shut their stations.

Others immediately commenced the adjustment of their pumps to reflect the new price.

NLC kicks

NLC on Tuesday threatened to take “matters into its own hands” following the decision by the NNPCL to hike petrol price and the Federal Government’s plan to distribute N8,000 monthly to 12 million poor households in the country.

NLC in a statement issued by its National President, Joe Ajaero, accused the Tinubu-led government of taking from the poor to pay the rich and unleashing suffering, hardship and sorrow upon Nigerians.

It said it had restrained itself from making further comments publicly on the vexatious issues around the recent but unfortunate unilateral hike in the price of petrol, which was in the guise of “the so-called subsidy withdrawal.”

The statement read in part, “However, the government of Nigeria seems to have been misled into believing that resorting to impunity and imperiousness in governance in a democracy is a beneficial option as it pursues its stated and unstated objectives.

“It is this belief that we are sure has continued shaping the actions of this government since its inauguration on May 29, 2023, to continue inflicting mindless and heartless pains on the populace one after the other without the decency of embracing the tenets of democracy which requires wide and deep stakeholder consultations on weighty matters of state.”

NLC stated that Nigerians would remember that the Federal Government had called for dialogue in the aftermath of its disastrous forlorn trajectory in the astronomical increase in petroleum product price “and our subsequent call for a nationwide industrial action.”

It said, “We were also witnesses to the actions of the Federal Government in procuring an unholy injunction from the courts which were served us in Gestapo style by trucks laden with fully armed soldiers and policemen.

“In all of these provocations, we remained committed to the principles of the rule of law, good conscience and democracy so that we can continue to be the moral compass for leaders in the public space. This explained our decision to suspend action on the proposed strike.”

The labour union, however, stated that rather than reciprocate the goodwill of Nigerian workers, the Federal Government insisted on threading the path of dictatorship and seeking to impoverish the people further by taking steps that could only be described as robbing the people of Nigeria to pay and feed the rich.

It said, “It is on this basis that the NLC strongly condemns the decision of the Tinubu-led administration to seek the approval of the National Assembly to obtain another tranche of external loans worth N500bn from the World Bank for the purposes of carrying out a phantom palliative measure to cushion the effect of its poorly thought-out hike in the price of PMS.

“Remember that the $800m which was already proposed before the devaluation of the naira by this government was worth about N400bn then but is now worth about N650bn after devaluation. It is from this, it proposes to bring out N500bn for distribution.

“The proposal to pay N8,000 to each of the so-called 12 million poorest Nigerian households for a period of six months insults our collective intelligence and makes a mockery of our patience and abiding faith in social dialogue which the government may have alluded to albeit pretentiously.”

NLC pointed out that the “further proposal to pay National Assembly members N70bn and the Judiciary N36bn is the most insensitive, reckless and brazen diversion of our collective patrimony into the pockets of public officers whose sworn responsibility it is to protect our nation’s treasury.”

The union said this might amount to hush money and outright bribery of the other arms of government to acquiesce the aberration.

“It is unconscionable that a government that has foisted so much hardship on the people within nearly two months of coming into office will make a proposal that clearly rewards the rich in public office to the detriment of the poor.

“What this means all this while is that the government is seeking ways of robbing the very poor Nigerians so that the rich can become richer. There is no other way to explain the proposal to pay a miserly N8,000 to each of the mysterious poorest 12 million households for six months which amounts to N48,000 and pay just 469 national legislators N70bn or about N149m each, while the Judiciary that has about 72 Appeal Court Judges, 33 National Industrial Court Judges, 75 Federal High Court Judges and 21 Supreme Court Judges and a total of about 201 Judges receives a total of N35bn or N174m each.

“If these other two arms are projected to receive this, what members of the executive council will receive is better left to the imagination of Nigerians; perhaps, the balance of N150bn will go to them. These proposals are not just unacceptable to Nigerian workers but are also dictatorial thus undemocratic,” the union stated.

It said the union would not want to waste the time of Nigerians especially workers on committees that had already been programmed to fail thus ignored.

“NLC would not want to continue to be part of the usual charade of committees with outcomes that are never implemented. We would not want to waste the time of Nigerians especially workers on committees that have already been programmed to fail thus ignored. We do not want to provide a cover for the government to get away with the hardship it has imposed on the people. We do not want to legitimise impunity,” it stated.

Speaking on the next line of action, the congress said, “As a result, if the government does not want to stop these fortuitous actions that it is pursuing in the name of palliatives, we will be forced to constructively review our engagement with the government on this vexatious issue and take matters in our own hands.”

‘Tinubu has deviated’

The Trade Union Congress also blasted the Federal Government over the hike in the price of fuel.

TUC’s National Vice President, Tommy Etim, said the country was now headed towards economic chaos.

He said, “We are entering one chance. It is unfortunate that the government is insensitive to the plight of the commoners and the poorest of the poor.  You can see that fuel which is essential to the movement of goods and services, including the informal businesses, have continued to fluctuate in price.

“For NNPC to wake up and increase the fuel price again, you need to ask what the increase is all about? Since they claimed that subsidy has been removed, why is the NNPC still regulating prices of fuel? The presidential committee that is considering palliatives is still meeting. As I speak to you, the sub-committees have not even met at all, I know this because I am a member of one.

“We have not concluded that, no template yet for implementation of proposals to be raised; but all that we are seeing is Tinubu going to the National Assembly, talking about distribution of N8,000 to 12 million households. What is the credibility of the social register? Nigeria is undergoing dimensional poverty and with the inflation rate, we are praying that we will not be like Zimbabwe. Look at the naira, this calls for urgent attention.”

He said the wages of workers had remained static, adding that “when Tinubu came in we were optimistic and we felt that he started well but he has started to deviate. He needs to remember the poorest of the poor who voted him into office.

“Look at the prices of food. Garri is now a luxury. People can’t afford garri again. Government has refused to think outside the box. At this point, we are seriously doubting if the proposal of the committee will be implemented.”

‘Blame market forces’

Commenting on the hike in petrol price, Group Chief Executive Officer, NNPCL, Mele Kyari, attributed it to market forces.

Addressing journalists after a closed-door meeting with Vice President Kashim Shettima at the State House, Abuja, Kyari said, “They are just prices depending on the market realities. This is the meaning of making sure that the market regulates itself. Prices will go up and sometimes they will come down also.”

He debunked notions that the price increase was due to a shortfall in petrol supply.

“No, there is no supply issue. It is not a supply issue. When you go to the market, you buy the product, you come to the market and sell it at its prevailing market price. It has nothing to do with supply. We don’t have supply issues.

“We have a robust supply. We’ve had over 32 days of supply in the country. That’s not a problem,” he explained.

On his part, Chief Executive Officer, NMDPRA, Farouk Ahmed, attributed the price hike to global crude oil price increase.

He also mentioned that the changes in freight costs and other miscellaneous expenses that importers encountered during distribution contributed to petrol price changes.

Ahmed said, “Basically, what we are seeing is the effect of market forces. You can see that crude oil prices have been on the rise. Just a week ago, crude oil prices hovered around $70/barrel, but now it has surpassed $80/barrel. So naturally, these prices also influence the cost of the product.”

Netizens kick

Nigerians on social media also kicked against the adjustment in the pump price of petrol.

They bemoaned the price hike, lamenting that the situation would further impoverish the citizens

“NNPC fuel price is now N617 /litre. I hope you are enjoying the renewed shege?” a popular tweep, Nefferetti with Twitter handle @firstladyship wrote.

@PoojaMedia wrote, “President Tinubu needs to address the nation NOW. Hunger is walking on the streets of Nigeria.”

Another user, @trending_medic, said, “Fuel at N617/litre and dollar hitting N835/$. Thank God it’s only Obidients that will suffer it.”

@OfficialUdiBoy wrote, “Fuel has gone up to N617, renewed hope has turned to renewed shege. E go touch everybody until we get the mandate back.”

On his part, @YemieFash said, “The same petrol that was N190/litre two months ago is N617/litre. Is this the renewed hope?.”

“Not up to a month and Tinubu times are this hard!! No way in hell I am buying fuel for N617. Once my phone goes off now na till NEPA bring light next,” @KhaleedSZN wrote.

@SodiqTade wrote, “Dear Tinubu Boys, A litre of fuel is now selling for N617, almost two months after the removal of subsidy by Tinubu. Do you still think the N8,000 per household will cushion the possible effects of this new price? It seems Nigerians have entered one chance with this mandate.”

@Shayor19 said, “N617/litre and we are going to just adapt and move on like nothing happened? We are gradually missing Buhari right now.”

On his part, @sirvicbrown, wrote, “When Tinubu said he was going to continue from where Buhari stopped, many of us didn’t really understand. Am sure it is clear now?”

Also contributing, @The_D1amond said, “The economy is not funny anymore… This is proof that it’s not getting better anytime soon. The government is against us, the economy is also against us. If you know what’s best for you, start investing in online skills that would help you earn in dollars.”

Petrol hits N600/litre

One of our correspondents observed that though some fuel stations sold at N600/litre on Tuesday, most outlets of NNPCL along Ikotun, Akonwonjo, Cement axis of Lagos State were still selling for N568/litre.

There were long queues around NNPC outlets because they were selling cheaper than others.

An outlet belonging to God’s Decision located along Ikotun in Alimosho Local Government Area of Lagos, was selling at N600 /litre.

‘Higher inflation looms’

Reacting to the development, the President, Nigerian Economic Summit Group, Laoye Jaiyeole, said, “It is already leading to inflation. It is a tough time, no doubt, but what is critical is for us to begin to act quickly. Let me tell you something, in 2015 before the first inflation in 2016, we saw this coming and at NESG we gave them three scenarios.

“We asked that there are difficult decisions the nation needs to take and we didn’t take them, we ran away from them, maybe if we had taken those decisions it may not be as bad as this. Now the tough choices are being taken and I must confess they are tough.

“Giving succor to those that are less privileged is one, but you know we cannot continue to share money, we have to boost production. By boosting production it means we are going to ask ourselves what we are going to do about food and the productive sector. How do we ensure that we have electricity?”

He stated that if Nigeria starts refining crude oil, it would reduce the pressure on the exchange rate.

Bayelsa State was also hit by the sudden hike in the pump price of petrol as some independent oil marketers operating in the state increased the cost of the product from N515 to N595/litre.

Checks showed that filling stations operated by the NNPCL and PADOS along the Sani Abacha Expressway and the Isaac Boro Expressway in Yenagoa had started selling fuel at N595/litre.

However, Rainoil facilities located along the Mbiama-Yenagoa Road and the Isaac Boro Expressway increased their pump price of the product to N591/litre, while SOBAZ re-adjusted their meter to reflect N590/litre.

It was observed that some of the independent sales outlets did not open for business.

Petrol stations sold the product at N515/litre as of Monday and Tuesday morning before news of the current increase in pump price filtered into town.

A filling station attendant at one of the facilities, who did not want his name mentioned, said that they received instructions from their head office to re-adjust the meter to reflect the new price.

Marketers project N700/litre

Meanwhile, oil marketers insisted that petrol price would hit N700/litre once fresh products being imported by independent firms start arriving Nigeria

National Controller, Operations, Independent Marketers Association of NIgeria, Mike Osatuyi, reaffirmed this on Tuesday.

According to him, Lagos residents should prepare to buy petrol for as high as N600/N620/litre, while those living up North could pay as high as N700/litre.

Osatuyi’s insistence came on the heels of a recent report by The PUNCH, where he predicted that the price would reach N700/litre.

His prediction was, however, greeted with uproar, with many labour unions describing the prediction as “insensitive”, and a ploy by marketers to hike petrol price.

Osatuyi, however, stood by his words, as he stated that with crude oil price already attaining $82/litre at the international market, and the exchange rate around N800/$, the pump price would definitely attain around N700/litre.

 “The new stock will arrive any moment from the third week in July. But you know crude is now around $82/barrel, and the exchange rate is around N800. So, the new price would be determined by these two factors,” he said.

Abuja motorists lament

Motorists in the Federal Capital Territory, on Tuesday, decried the hike in petrol price, as transporters increased their fares following the new pump price.

It was observed that the transport fare from Lokogoma Bus-Stop to town increased from N300 to N400, while the fare from Galadimawa Junction to Lokogoma increased from N150 to N250.

Similarly, the cost from Airport Junction to Wuse increased from N300 to N400, while the fare to Lugbe from Airport Junction jumped from N300 to N400.

Danladi Usman, an FCT resident, said, “Many of us may not be coming out all the time again because how do we calculate the transport and our profit? Some of us also deliver money to the owners of the vehicles at the end of the day so it is going to be difficult.”

Petrol sells N630/litre

Some filling stations in Ondo State increased their pump prices to between N620 and N630/litre.

The marketers jerked up the price from the previous N500, N510 and N520/litre to between N620 and N630/litre after the NNPCL raised its price.

Long queues returned to some filling stations which were selling the product at the old price of N530/litre. Also, many stations which were operating before Tuesday were under locked.

A petrol station manager, who identified himself simply as Taiwo, said his station did not open for operation on Tuesday as the owner of the filling station was yet to decide on the price to sell the product.

“We are yet to sell because we don’t know how much to sell it and it will be very difficult to lift the product with this recent outrageous pump price. Our station owner is yet to decide on how much we will be selling it,” he said.

CSOs complain

The Coordinator, African Centre for Media and Information Literacy, Chido Onumah, faulted the government’s lack of control over the NNPCL as regards the pump price of petrol.

“The government seems not to be in control. We have a new government that is clearly not in charge and just leaving things at the hands of whether you say market forces, or buccaneer businessmen, or government forces like the NNPC that is completely out of control”.

He also lamented the effects of the hike on salary earners, noting that the situation was “becoming a nightmare for Nigerians”, as they were suffering more in the two months since the inauguration of the Tinubu administration, than in the last eight years of the previous administration.

Residents in the FCT continued to express their dissatisfaction, questioning and expressing surprise at the upward review in the price of petrol.

“It is surprising that this morning fuel price has been reviewed upward again. We want the government to make an explanation on this, “ a motorist at the A.A. Rano filling station at Jabi, Abuja, Kingsley Fregene, stated.

Punch

Labour Party (LP) on Tuesday said that the latest adjustment in the petroleum pump price is a continuation of the hard times Nigerians will be facing under the administration of the All Progressives Congress (APC).

LP National Publicity Secretary, Obiora Ifoh, disclosed this in a statement on Tuesday.

Petroleum pump prices rose to N617 per litre at Nigerian National Petroleum Company Limited (NNPCL) outlets in Abuja on Tuesday.

Across petrol outlets in different parts of Nigeria, pump prices were also adjusted upwards as Nigerians lamented the effect of the increase on the cost of living.

Reacting in its statement, the party said Nigerians do not deserve what they are getting from the present government.

“Recall that we had earlier warned that the bourgeoisie government in place can only enrich the upper class and inflict penury on the proletariat.

“You offer a paltry N8,000 to a family of five and extract all they have laboured for through obnoxious policies,” the party said.

Ifoh did not, however, say what his party would have done differently if it had won the presidential election in February, especially as its presidential candidate, Peter Obi, had, like President Bola Tinubu, promised to remove subsidy on petrol if elected president.

In its Tuesday statement, LP also condemned the attitude of the government towards its people, saying it is even coming at a time the Nigerian currency has continued to devalue under the watch of the government.

“We are however optimistic that Nigeria will overcome the Taskmaster of our time. We will soon witness the Promised Land,” it said.

Tinubu announced the removal of subsidy on petrol in his inaugural address on 29 May.

Following the announcement, the NNPCL directed its outlets nationwide to sell petrol between N480 and N570 per litre, an over 200 per cent increase from the initial price below N200.

The hike immediately triggered an increase in transportation fares and prices of goods and services.

PT

Nigeria’s state oil company increased the pump price of gasoline by nearly 15%, weeks after prices almost tripled following the scrapping of fuel subsidies and a sharp depreciation of the naira, which made imports more costly.

The Nigerian National Petroleum Co. on Tuesday raised the cost to 617 naira ($0.78) a liter from 537 naira in Abuja, the nation’s capital, according to pump price adjustments at the company’s mega station seen by Bloomberg.

President Bola Tinubu in late May scrapped fuel subsidies that cost the government $10 billion in 2022 and opened the market to other gasoline importers, ending the NNPC’s monopoly. His administration also devalued the naira last month in an attempt to liberalize the currency market.

Soaring fuel prices could constrain the central bank’s efforts to contain inflation in Africa’s most populous nation, where about 40% of the population live in extreme poverty. The monetary policy committee has lifted its key interest rate by 700 basis points since May 2022 to a record 18.5%. Price-growth accelerated to a near 18-year high of 22.8% in June and is likely to surge further when the impact of the fuel subsidies removal and the weakening of the currency register, the statistics agency said Monday in a tweet.

To cushion Nigerians from the impact of the removal of gasoline subsidies, Tinubu asked lawmakers last week to approve N500 billion of spending.

New Licenses

Tinubu’s administration has also issued at least 56 licenses to petrol importers to supply the product, according to Farouk Ahmed, chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority.

“This is the first thing we are seeing after the deregulation that now marketers are actually participating in the market,” he said from Abuja by phone.