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Subsidy: Petrol Hits N1200 As 240 Million Litre Vessels Arrive Nigeria
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.
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.
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.
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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Just in :INEC announces date for Anambra governorship election
By Kayode Sanni-Arewa
The Independent National Electoral Commission (INEC) has fixed the date for the Anambra governorship election.
Addressing representatives of political parties at the INEC headquarters in Abuja on Thursday, October 17, INEC national chairman, Prof Mahmood Yakubu said the election will be held on Saturday 8th November 2025.
Hear him: “As you are aware, the last governorship election in Anambra State was held on 6th November 2021. By the effluxion of time, the governorship election is due next year.
In compliance with the mandatory requirement of 360 days, the formal notice for the election will be published on 13th November 2024. Party primaries will be held from 20th March 2025 to 10th April 2025.
“The candidate nomination portal will open at 9.00 am on 18th April 2025 and close at 6.00 pm on 12th May 2025. The final list of candidates will be published on 9th June 2025.
“Campaign in public by political parties will commence on 11th June 2025 and end at midnight of Thursday 6th November 2025. Voting will take place in all the 5,720 Polling Units across the State on Saturday 8th November 2025.
In compliance with the mandatory requirement of 360 days, the formal notice for the election will be published on 13th November 2024. Party primaries will be held from 20th March 2025 to 10th April 2025.
“The candidate nomination portal will open at 9.00 am on 18th April 2025 and close at 6.00 pm on 12th May 2025. The final list of candidates will be published on 9th June 2025.
“Campaign in public by political parties will commence on 11th June 2025 and end at midnight of Thursday 6th November 2025. Voting will take place in all the 5,720 Polling Units across the State on Saturday 8th November 2025.
The candidate nomination portal will open at 9.00 am on 18th April 2025 and close at 6.00 pm on 12th May 2025. The final list of candidates will be published on 9th June 2025.
“Campaign in public by political parties will commence on 11th June 2025 and end at midnight of Thursday 6th November 2025. Voting will take place in all the 5,720 Polling Units across the State on Saturday 8th November 2025.
“In the coming weeks, the Commission will provide details of other electoral activities, including the registration of new voters, transfer of voters and the replacement of lost or damaged PVCs.
“The detailed Timetable and Schedule of Activities for the 2025 Anambra State Governorship election will be uploaded to our website and social media platforms before the end of this meeting.”
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Despite heavy hunger, World Bank Tells Nigerians Not To Oppose, Reverse Tinubu’s Economic Reforms
By Kayode Sanni-Arewa
Despite hunger, World Bank has urged Nigerians to support the ongoing economic reforms, warning that opposing or reversing them could have serious negative consequences for the country.
Speaking at the launch of the Nigeria Development Update (NDU) report in Abuja, the World Bank Country Director for Nigeria, Dr. Ndiame Diop, emphasized that while the reforms may be challenging, they are crucial for the nation’s long-term stability.
Dr. Diop cautioned that rolling back these reforms would be detrimental, saying, “Reversing the reforms would spell doom for Nigeria.”
In the same vein, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, reiterated the importance of staying committed to the reforms. He stated, “Any effort that is not sustained will be a waste. Together with the Governor of the Central Bank of Nigeria and the Minister of Budget and National Planning, we’ve been discussing how to stay on course.”
Edun further explained that the government’s focus is on reducing inflation while ensuring investments flow into critical sectors such as industry, where jobs can be created. “We are prioritizing market pricing and sat down with labor unions to explain why we cannot afford to let this opportunity slip.”
On the removal of subsidies, Edun noted, “Every day without subsidies means more funds available for education, healthcare, and other essential expenditures.”
Also speaking, Central Bank Governor Mr. Olayemi Cardoso highlighted the importance of promoting exports in light of the exchange rate adjustments. “The moderation in the FX rate should make our goods more competitive for export and discourage the importation of unnecessary goods,” he said
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