News

Just in: Independent marketers reject NNPCL petrol price, vow to shut down

Published

5 days ago

October 11, 2024

By Kayode Sanni-Arewa

More trouble looms for Nigerians as the Independent Petroleum Marketers Association of Nigeria has rejected the ex-depot price of Premium Motor Spirit by the Nigerian National Petroleum Company Limited

The marketers with over 70 percent of filling stations in Nigeria threatened that they will stop operation if NNPCL refuses to back down on its new petrol ex-depot price of N1,010 per liter.

The spokesperson of IPMAN, Chinedu Ukadike disclosed this to DAILY POST in an interview on Friday morning.

His comments come as NNPCL on Wednesday announced a fresh price hike across its retail outlets nationwide to between N998 and N1,030 in Abuja and Lagos State.

The state-owned company also announced between N1,040 to N1,010 as the per liter prices they will sell to marketers.

Reacting, Ukadike said the ex-depot petrol prices announced by NNPCL showed that the company is poised to inflict continued suffering on Nigerians.

He stressed that IPMAN members will not accept a petrol price higher than what NNPCL sells at its retail outlets.

According to him, the action of NNPCL cannot be termed as deregulation.

He noted that with the NNPCL petrol ex-depot price of N1010, oil marketers who own the majority of fillings nationwide will sell the product at N1,200 per liter.

“NNPCL is selling ex-depot in Port Harcourt at N1045 per liter, Calabar (N1040), Lagos (1010).

“We refuse the price by NNPCL. We cannot comply with the price. We will not lift NNPCL petrol, we are not interested.

“NNPCL will continue to suffer the masses. They are selling N998, why are they selling to us above the price they are selling to IPMAN members at N1010, by the time logistics cost is added, the petrol price will get to N1200,” he fumed.

This portends a looming fuel scarcity nationwide.

It was observed that in Abuja, the majority of filling stations were not dispensing fuel on Thursday.

Earlier, the Nigeria Labour Congress called for an immediate reversal of the latest fuel price hike by NNPCL.

However, the Nigerian government on Wednesday blamed market forces for the fuel price hike in the country

News

Impeachment Plot: Akpabio Cautions Nigerians To Disregard Media Report

Published

2 hours ago

October 16, 2024

Gloria Ikibah

By Gloria Ikibah

The President of the Senate, Senator Godswill Akpabio, has admonished Nigerians to disregard stories of his planned impeachment, even as he described it as an illusion.

Naijablitznews.com recalled that an online publication, (Name withheld on Wednesday, published a story titled “DSS Takes Over National Assembly Amid Impeachment Speculations Against Senate President Akpabio”, which has since been republished by other media outlets.

The Special Adviser on Media and Publicity to the President of Senate, Hon. Eseme Eyiboh in a statement on Wednesday said the report was a figment of the reporters imagination.

He said: “Distinguished Senator Godswill Akpabio, President of the Senate of the Federal Republic of Nigeria, wishes to state without equivocation that the speculation and misinformation circulating about an alleged impeachment plot against him is the handiwork of fifth columnists who are perpetual merchants of misinformation and purveyors of mischief.

“As a Head of one of the Arms of government, the President of the Senate categorically denies these baseless claims and reaffirms his commitment to transformational leadership of the Senate particularly and effectively collaborates with the other arms of government. There is no crack in the Upper Chamber and no Senator or Caucus is plotting any impeachment against the President of the Senate. Every Senator is focused on raising the bar of Legislative Agenda and Nation building.

“The allegations are nothing but a desperate attempt to create division and discord among the esteemed senators. It’s unfortunate that some individuals would resort to spreading falsehoods to promote the invidious reins of their blackmail enterprise.

“Senator Godswill Akpabio remains focused on the implementation of the 10th Senate’s Legislative Agenda and working tirelessly to address the pressing National issues of growth and prosperity.

“The Senate President will not be distracted by these unfounded rumours and wants to assure the public that his commitment to Nigeria’s progress remains unwavering.

“We therefore urge the public to disregard these baseless claims and instead focus on the meaningful work being done by the Senate to improve the lives of all Nigerians”.

News

BREAKING! FG delegation in meeting with NLC, TUC

Published

3 hours ago

October 16, 2024

Kayode Sanni-Arewa

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

Published

3 hours ago

October 16, 2024

Gloria Ikibah

…urge NNPCL, others to expedite repairs of refineries

By Gloria Ikibah

The House of Representatives has urged the Federal Government to reverse the recent Pump Price hike and take immediate steps to stabilise petrol and cooking gas prices through targeted interventions such as temporary price relief measures, tax reductions, or subsidies on LPG for low-income households.

The House also called on the Nigerian National Petroleum Corporation (NNPC), Ministry of Petroleum Resources and other relevant agencies to expedite the repair/maintenance of domestic refineries and increase local refining capacity as a stop-gap measure to reduce thedependence on imported refined petroleum products.

The lawmakers furtwhr urged the Central Bank of Nigeria (CBN) to implement monetary policies that will mitigate the adverse effects of fuel price hikes on inflation, particularly with regards to essential goods and services.

These resolutions was sequel to the adoption of a motion of urgent public importance on the “Urgent need to suspend the increased cost of petrol and cooking gas in the country and provide a stop-gap”, moved by the House Minority Leader, Rep. Kingsley Chinda and 111 other lawmakers.

Debating the motion, the Deputy Minority Leader, Rep. Aliyu Madaki, said that Nigeria, as an oil-producing nation, has historically relied on petroleum products and cooking gas (LPG) as essential sources of energy for both domestic and industrial purposes.

He expressed concern that in recent months, the prices of petrol and cooking gas have skyrocketed and continue to so do, creating an unsustainable financial burden on ordinary Nigerians and exacerbating the cost of living:

According to Madaki, the removal of fuel subsidies, coupled with global oil price volatility and the depreciation of the Naira, has contributed significantly to the rising cost of petrol at the pump and cooking gas for households.

The motion reads: “Worried that the escalating fuel and gas prices are impacting the cost of transportation, food, essential goods and healthcare, further increasing inflation and pushing many families into deeper financial hardship.

“Further concerned that businesses, particularly small and medium-sized enterprises (SMEs), are struggling to manage their operational costs due to increased fuel prices, threatening economic stability and job security.

“Acknowledging that the Federal Government has previously announced plans to repair domestic refineries and boost local refining capacity to address some of these issues but has yet to deliver significant results in this regard;

“Mindful that the rising cost of petrol and cooking gas poses a significant threat to the livelihood of millions of Nigerians and unchecked inflationary pressure caused by the increased prices can lead to social unrest, increased poverty rates, and negative long-term economic effects; Also worried that unless urgent and pragmatic steps are taken to control the rising cost of petrol and cooking gas, the Nation will go into economic crisis leading to negative outcomes like increased crime rate and mortality rate.

The House unanimously adopted the motion urging the Federal Government to explore alternative energy sources and diversify the country’s energy mix to reduce reliance on petrol and gas, promoting renewable energy solutions that are more sustainable and affordable in the long term.

The lawmakers also encourage State Governments to adopt policies that alleviate the financial burden on their citizens, such as waiving taxes or levies on transportation and goods affected by high fuel costs.

The House further mandated its special adhoc committee investigating fuels price increase to investigate and report back within two week for further legislative action.