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.”
News
Impeachment Plot: Akpabio Cautions Nigerians To Disregard Media Report
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
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.
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