News
64th Independence: Nigeria needs rescue from further decay – Obi
By Francesca Hangeior.
The presidential candidate of the Labour Party in the 2023 general election, Peter Obi, has urged leaders and citizens alike to reflect deeply on the country’s current state.
Obi warned that Nigeria is “urgently in need of rescue from further decay,” highlighting the nations challenges across economic, social and security sectors.
He made the call on Tuesday in a statement he shared on his X handle in commemoration of the nation’s 64th Independence Day.
While acknowledging the significance of independence, Obi emphasised that this year’s celebration should be a time for sober reflection, especially for the nation’s leadership.
“Today is a day to appreciate God for abundantly blessing us with natural, human, and material resources to build a great nation,” Obi said.
However, he stressed that the country’s abundant resources have not translated into meaningful progress.
He emphasised, “For me, this should also be a day of sober reflection for every Nigerian, especially for us, the leaders, whose actions and inactions have contributed to the stagnation and glaring failures we are witnessing at present.”
He expressed concern over Nigeria’s underperformance in key areas of development, questioning whether the nation has truly improved the lives of its people.
Obi pointed to critical issues plaguing the country, including widespread poverty, a broken education system, and an overwhelming debt burden.
He also highlighted the alarming statistic of over 18 million out-of-school children as evidence of Nigeria’s failure to secure its future.
“Have we built a productive economy, or have we created a nation with the worst debt profile in its history?” he asked.
Beyond the economy, Obi underscored the nation’s poor rankings in global security, corruption and rule of law.
He stated, “We are ranked as one of the most insecure nations globally and among the most corrupt. Our disregard for the rule of law is evident, and this has hindered our progress as a nation.”
News
BREAKING! FG delegation in meeting with NLC, TUC
By Kayode Sanni-Arewa
The Federal government delegation is currently meeting with the leaders of organised labour at the Presidential Villa in Abuja.
The meeting is centred on the state of the nation, especially the petrol pricing system.
The meeting is taking place at the Secretary to the Office of the Government of the Federation, SGF, George Akume.
At the meeting are Mallam Nuhu Ribadu, the National Security Adviser, NSA; Nkeiruka Onyejeocha, the Labour Minister; and Wale Edun, Minister of Finance and Coordinating Minister of the Economy.
Others are the Information Minister, Petroleum Minister, State Minister of Gas, and representatives of the Nigerian National Petroleum Corporation, NNPC, Limited.
News
Reps Ask FG To Reverse Petrol Pump Price Hike, Cooking Gas Price
News
PMS Prices Determined By Market Forces, No Price Deal With IPMAN – NNPC
By Kayode Sanni-Arewa
The Nigerian National Petroleum Company (NNPC) Limited has debunked claims that it reached an agreement with the Independent Petroleum Marketers Association of Nigeria (IPMAN), on the price of Premium Motor Spirit (PMS), commonly known as petrol, saying fuel prices are now determined by market forces.
Reports credited to IPMAN President, Abubakar Maigandi had stated that NNPC agreed to reduce the ex-depot price of petrol for its members from N958 per litre to N955 per litre.
Refuting the claim in a statement on Wednesday, the Chief Corporate Communications Officer of the national oil company, Olufemi Soneye, emphasised that under the current deregulated regime, fuel prices are determined by free market forces, as provided for in the Petroleum Industry Act (PIA), 2021 rather than by agreements.
Refuting any form of price deal with Marketers, Soneye said NNPC had only provided a one-time N3 discount to marketers with funds deposited at NNPC to facilitate fuel lifting and prevent shortage, saying the initiative “was a temporary measure”.
Maintaining that prices are still determined by market forces, not by NNPC Ltd, Soneye said, “The market has been deregulated, meaning that petrol prices are now determined by market forces rather than by the government or NNPC Ltd.
“There is no price agreement between IPMAN, NNPC, or any marketer. The market forces determine prices under the current deregulated regime.”
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