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Subsidy: Petrol Hits N1200 As 240 Million Litre Vessels Arrive Nigeria

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By Kayode Sanni-Arewa

The Nigerian National Petroleum Company Limited (NNPCL) commenced the offloading of 240 million litres of Premium Motor Spirit (PMS), commonly known as petrol, on Monday to alleviate the ongoing fuel scarcity across the nation.

This move comes as petrol prices soar, and filling stations in various locations are selling the product at an average price of N800 per litre.

According to Ayo Cardoso, the South-West Regional Coordinator of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), the imported petrol was delivered through five vessels and offloaded into five depots.

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This development was confirmed during an interview with Punch on Monday.

Despite these efforts, challenges persist. Naija News reported that the NNPCL had addressed logistical issues previously causing fuel shortages, yet many filling stations in Lagos and other parts of the country remained closed, forcing citizens to face prolonged difficulties in obtaining fuel.

Compounding the issue, the NNPC issued a directive prioritizing fuel distribution to the Federal Capital Territory (FCT), Abuja, before other regions, leading to a fleet of trucks being dispatched to Abuja on Sunday.

The situation has increased pump prices nationwide, with petrol selling for between ₦650 and over ₦1,000 per litre at various filling stations.

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Moreover, black marketers are capitalizing on the scarcity, selling petrol at prices exceeding ₦1,200 per litre, depending on location and the buyer’s negotiating ability.

The escalation of fuel prices and scarcity has worsened hardships for many, particularly as the new work week began on Monday.

The resumption of public schools in some states further strained parents, teachers, and school owners, who are all grappling with the additional burden of transportation costs and accessibility.

Cardoso assured the public that the NMDPRA is committed to ensuring that Nigerians are not exploited by opportunistic pricing at filling stations. “We are doing our best to monitor the situation closely and ensure that fuel is distributed fairly and promptly across all regions,” he stated.

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He further stated, “We are doing something about the fuel crisis; very soon it will be over. Vessels are discharging as I am talking to you. What we are concentrating on is to push the NNPC, which is the supplier of last resort, to make sure they wet the entire populace.

“So, we have about five vessels already discharging the product, about 240 million litres are being discharged as I am talking to you right now. We are working round the clock.

“But then, once you have a problem, it takes like one or two weeks to (normalise), but people will keep on panicking, which is not supposed to be. All these kinds of things disrupt the normal way of operations. But with 240 million litres coming in from five vessels discharging to five depots already today, things will get back to normal.”

Fuel scarcity has spread across Abuja as well as Lagos, Ogun, Niger, Nasarawa, Gombe and other states.

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Akwa Ibom @39: The Aspirations of Our Forebears Are Being Fulfilled – Akpabio

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President of the Senate, Godswill Akpabio has stated that the creation of Akwa Ibom State 39 years ago by the President Ibrahim Babangida administration was a fulfilment of the aspiration of the founding fathers of the state.

Akpabio’s assertion was contained in his goodwill message to the government and people the state on the 39th anniversary celebration of the creation of the state.

The message, titled, “Akwa Ibom at 39: Celebrating Our Journey, Building Our Future reads:

“On behalf of my family, the Senate and the entire National Assembly of the Federal Republic of Nigeria, I extend my warmest congratulations to His Excellency, Pastor Umo Eno, Governor of Akwa Ibom State, the Government and the good people of our dear State on the auspicious occasion of the 39th anniversary of its creation.

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“Thirty-nine years ago the long-held aspiration of our forebears became reality with the creation of Akwa Ibom State. It was the fulfilment of a dream nurtured through years of sacrifice, advocacy, courage and an abiding faith in the capacity of our people to determine their destiny and build a prosperous homeland.

“Today, we remember with profound gratitude those illustrious sons and daughters whose vision and struggles helped to bring our State into being.
From those modest beginnings, Akwa Ibom has grown into one of Nigeria’s most consequential States, distinguished by the industry, ingenuity, hospitality and resilience of its people.

“Across Nigeria and beyond our shores, Akwa Ibom sons and daughters continue to excel in public service, business, academia, the professions, the creative industries, sports and numerous other fields of human endeavour. Our greatest resource has always been our people,” he stated

According to the former two-term governor of the state, “as one who had the privilege of serving this great State as Governor, I remain profoundly grateful for the opportunity our people gave me to contribute to its development.

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“The years of Uncommon Transformation demonstrated what is possible when vision is matched by courage, when public resources are deployed for the public good, and when leadership refuses to accept yesterday’s limitations as the boundaries of tomorrow’s possibilities. The infrastructure, institutions and human-capital investments of that era were never ends in themselves; they were foundations upon which succeeding generations could continue to build.

“I therefore, commend Governor Umo Eno for sustaining the journey of development through the ARISE Agenda and for his commitment to peace, rural development, economic advancement and the welfare of our people. The progress of Akwa Ibom must always rise above partisan considerations. Every generation of leaders has a duty to add another storey to the edifice handed down to it.

“At 39, therefore, our celebration must be accompanied by renewed determination. We must continue to build an Akwa Ibom where every child can dream without limitation; where enterprise and innovation flourish; where our young people find opportunities to translate their talents into prosperity; where our communities enjoy the dividends of development; and where peace, unity and mutual respect remain the foundations of our collective progress.

“As we approach the fourth decade of our State’s existence, let us remember the faith of those who fought for its creation and resolve to leave to those coming after us a State greater than the one we inherited. The task before us is not merely to celebrate how far we have travelled, but to imagine how much farther we can go.

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In conclusion, Akpabio wished the state and its people, a happy 39th Anniversary, saying, ” Akwa Ibom is rising. And together, we shall continue to build a future worthy of the dreams of our founding fathers.
God bless Akwa Ibom State”.

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There Is No Vacancy in Aso Rock – Akpabio

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•••Defends Tinubu’s Extended Vacation

President of the Senate, Godswill Akpabio has dismissed calls for President Bola Ahmed Tinubu to hand over power to Vice President Kashim Shettima, saying there is no leadership vacuum despite the President’s continued working vacation abroad.

Speaking on Tuesday, in Akwa Ibom State, while commisioning road projects executed by Governor Umo Eno, Akpabio addressed public concern over Tinubu’s three-week holiday, which was recently extended by one week. He insisted the President remains fully in office and continues to carry out his constitutional duties.

“I am the Senate President, and I am not the acting President of Nigeria, because President Tinubu is still in power. He is on a working leave, and there is no absence in Aso Rock. The world is a global village, and one can give instructions over the internet. So, why are people complaining?” he retorted.

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Akpabio emphasized that only his office can declare a presidential vacancy and that no such condition currently exists. “Right now, there is no vacancy. Asiwaju Tinubu is still in power, and he is still running the affairs of Nigeria,” he added.

To underscore the President’s continued engagement, Akpabio disclosed of recent diplomatic contacts, including communications with French President Emmanuel Macron.

His remarks may have finally put to bed, unnecessary concerns raised by critics who claim the extended absence has hindered governance. Invoking modern communication, Akpabio argued a “remote” presidency can still function effectively.

The Presidency has not provided a formal return date for President Tinubu. Akpabio’s comments, however, signal a united stance within the ruling All Progressives Congress (APC) aimed at quelling speculation about a leadership crisis.

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Oyedele Calls for Affordable Capital to Finance Africa’s Infrastructure

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The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has called on the international community to scale up the availability of affordable capital to finance infrastructure and development across Africa.

Oyedele made the call while addressing the United Nations Dialogue on Solutions to Climate Finance on the margins of the 81st Session of the United Nations General Assembly in New York.

He said Africa’s development ambitions, particularly its energy needs, continue to be constrained by high financing costs, currency risks and limited access to affordable long-term capital.

The Minister explained that despite Africa’s relatively low contribution to global carbon emissions, the continent continues to face what he described as a “prejudice premium” and “narrative cost” in its efforts to mobilise financing for critical infrastructure.

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He also identified currency risk and what he termed “stereotype tax” as additional burdens confronting African countries as they seek to raise capital for critical energy and other development assets.

Oyedele therefore called for a strategic shift in the approach to climate finance, with simpler access to affordable capital for developing countries and financing arrangements that better reflect their development realities.

He also urged the international community to scale up investment in gas and other transition energy sources, particularly in Africa, to expand access to reliable and affordable energy and help address global energy poverty.

According to him, greater investment in Africa’s energy sector would also help diversify global energy supply and reduce concentration risks, particularly amid disruptions affecting the Gulf region.

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The Minister stressed that Africa’s energy transition must take account of the continent’s significant energy-access deficit, noting the need for greater investment to enable countries to meet their development needs while pursuing a practical transition to cleaner energy sources.

For Nigeria, Oyedele said the immediate priority was to structure and implement policies and programmes that would reduce poverty, expand economic opportunities and accelerate the distribution of shared prosperity.

He said achieving these objectives would require stronger international cooperation and a financing framework that enables developing countries to mobilise the capital required to invest in infrastructure and improve the lives of their people.

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