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Marketers to Crash Petrol Price through importation

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By Kayode Sanni-Arewa

Petroleum marketers in the country say there is no going back in their plan to import fuel from outside the country to crash the price of the product.

The Independent Petroleum Marketers Association of Nigeria and the Petroleum Products Retail Outlets Owners Association of Nigeria last week insisted on fuel importation after accusing the Dangote refinery of selling fuel to Nigerians at an exorbitant price.

The marketers are now awaiting approvals from the Central Bank of Nigeria (CBN) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to facilitate these imports, which they argue would offer relief to consumers facing financial strain following the removal of fuel subsidies.

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To proceed with the imports, the marketers have requested access to foreign exchange from the CBN and regulatory permits from NMDPRA to ensure compliance with quality and standards for the fuel they plan to bring into the country.

However, the NMDPRA has denied claims that it has granted IPMAN and PETROAN permission to import petrol as associations. According to an NMDPRA official, who spoke on condition of anonymity, only individual marketers—not associations—can apply for import licenses. The source emphasized that individual applications are mandated by law.

“The truth of the matter is that they can’t apply for petrol import license as a body or association. Individual marketers have to apply by themselves before they can be granted that license. They have to apply by themselves. We are not going to give the permit jointly so they can’t apply as an association,” the source said.

Responding to the development, PETROAN’s National Public Relations Officer, Dr. Joseph Obele, disclosed that the association had applied for an import license about a month ago through its newly established trading wing. He described Dangote as an “aggressive competitor” with intentions to dominate the market.

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“You should know that Dangote is just out to close all the doors and windows so that no person enters the market. He is determined to ensure that nobody enters the market as a competitor. We assure Nigerians that as soon as the regulatory agency approves our authority to import, this price of PMS that is causing pain to Nigerians right now will crash to the barest minimum,” Obele stated.

Dr. Obele further argued that the product PETROAN aims to import would be of high quality, potentially surpassing the standards of the Dangote refinery. He urged Nigerians to support efforts to dismantle market monopolies.

“We call on Nigerians to support the call for dismantling monopolies so that we can liberate the market; otherwise, we will remain in the trap we are. We are trapped at the moment; we are trapped with exploitation, and the only way out of the trap is to dismantle every dimension of monopoly and we are calling on Nigerians to support us,” he said.

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Stampede: Court grants bail to Ooni’s Ex-Queen, two others

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By Francesca Hangeior

Justice Kamorudeen Olawoyin of a High Court sitting in Ibadan has granted bail to three suspects remanded over a food queue stampede that claimed the lives of 35 minors in Ibadan, the Oyo State capital, last December.

The three suspects are ex-Queen Naomi Silekunola, Ibadan-based broadcaster Oriyomi Hamzat and a school principal Abdullahi Fasasi.

The accused are facing four counts of conspiracy, acceleration of death, negligent acts causing harm, and failure to provide adequate security and medical facilities.

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Justice Kamorudeen Olawoyin of a High Court sitting in Ibadan has granted bail to three suspects remanded over a food queue stampede that claimed the lives of 35 minors in Ibadan, the Oyo State capital, last December.

The three suspects are ex-Queen Naomi Silekunola, Ibadan-based broadcaster Oriyomi Hamzat and a school principal Abdullahi Fasasi.

The accused are facing four counts of conspiracy, acceleration of death, negligent acts causing harm, and failure to provide adequate security and medical facilities.

The trio were granted bail in the sum of N10 million and two sureties in like sum.

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The court also ruled that Hamzat’s organisation, Agidigbo FM, must not broadcast any news relating to the ongoing trial.

Earlier, the defendants argued their bail applications before the court last Tuesday, but the court ruled that the defendants should be remanded in a correctional facility till Monday, January 13, for a ruling on their bail applications.

Last Tuesday, the defence team made a case for bail, arguing that the accused didn’t pose a flight risk and were willing to cooperate with the investigation.

However, the Oyo State Attorney General and Commissioner of Justice, Abiodun Aikomo, opposed the applications, highlighting the seriousness of the charges and the need to ensure justice for the victims and their families.

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The defendants were arrested over the stampede at Islamic High School, Basorun, Ibadan, venue of a children funfair which claimed the lives of about 35 children.

Oyo State Governor, Seyi Makinde, had insisted that those involved in the stampede must face trial.

He, however, added that he wasn’t against the suspects being granted bail.

The trio were facing trial on a four-count charge bordering on negligence, criminal conspiracy, among others.

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Libya Police Arrest Nigerian Man For Alleged Possession Of Juju Items

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The Tamsan Police Department in Barqan Al-Shati, Libya, has arrested a Nigerian man for allegedly possessing items linked to sorcery.

The arrest was disclosed in a statement by Migrant Rescue Watch on X, which said the authorities reportedly discovered the paraphernalia during a routine check.

Migrant Rescue Watch noted that the suspect’s case has been referred to the public prosecution for further legal action.

The statement read, “Tamsan Police Dept. arrested in Barqan Al-Shati a person ‘M.A.’ of Nigerian nationality for possession of sorcery paraphernalia.

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Lagos-Calabar road project missing in 2025 budget

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There is uneasy calm over the omission of the Lagos-Calabar Coastal Road from the 2025 budget proposal presented to the National Assembly recently by President Bola Ahmed Tinubu, Daily Trust can report.

The coastal road, one of the signature projects of President Tinubu which has generated a lot of controversy since its commencement last year, is expected to gulp around N16 trillion.

Questions have been raised about the funding of the project which the federal government hitherto stated would be through a public-private partnership (PPP) arrangement.

In February of last year, the Federal Executive Council (FEC) approved a N1.07 trillion contract for the construction of the first phase of the project.

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The minister disclosed that the pilot phase covers a 47.47-kilometre dual carriageway of five lanes on each side and a train track in the middle.

The minister disclosed that FEC at its October 30 meeting approved the procurement of the project under the EPC+F (Engineering, Procurement, Construction and Financing) and in favour of High Tech Construction African Limited.

Umahi said, “They already have started searching for the funding, but hitches here and there. And so, the ministry had to go back to Mr President to ask for two things, and that was on January 18. We asked, Can we fast-track this?

“Since this project was going to be procured in two phases and multiple sections, can we get the federal government to fund phase one, which is what is 47.47 kilometres running from Ahmadu Bello in Lagos down to Lekki Deep Seaport? Mr President graciously approved.

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“Today, we have procured the first section, which is 47.47 kilometres, under 10 lanes and FEC graciously approved the contract for N1.067tn with no objection.”

In December, last year, Umahi further disclosed that some sections of the highway and the Sokoto-Badagry Superhighway would be commissioned by May 2025.

However, the source of funding of the project remains unclear as there was no mention of the project in the 2025 budget.

The Federal Ministry of Works has a total capital allocation of N1,065,171,466,605 in the 2025 budget proposal.

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But the Lagos-Calabar Coastal Road which is under construction was not included in the budget as further observed by BudgIT, a leading civic-tech organisation while raising fresh concerns over the 2025 budget.

In a recent statement released on its X handle, BudgIT asserted: “This omission implies that if funding for this project materialises, it will likely necessitate reallocating funds from other critical projects, potentially hindering their implementation and impacting the budget’s credibility.”

The statement was signed by BudgIT’s Communications Associate, Nancy Odimegwu.

According to the group, some of the projections in the budget were unrealistic even as it faulted the failure of government to provide a breakdown of the budget of some ministries, departments and agencies.

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BudgIT noted that in previous years, it identified several budgetary insertions made by the National Assembly that deviated from the federal government’s constitutional mandate and priorities while such projects were assigned to MDAs “that have neither the capacity nor the mandate to implement the inserted projects.”

The group noted that in 2021, it observed that 5,601 capital projects were added to the Appropriation Bill during the review process by the National Assembly. In 2022, it increased to 6,462 projects across 37 mother ministries and 340 MDAs, while in 2024, 7,447 insertions amounting to a staggering N2.24 trillion were found in the budget.

“While the constitution grants the National Assembly the authority to appropriate funds, it often modifies the executive’s proposed budget to distort its original intent and disconnect it from the nation’s long-term development agenda.

“Many inserted projects usually lack proper conceptualisation, design, and cost estimation, undermining their effectiveness and feasibility. We believe that the legislature must exercise this power with the utmost responsibility. This responsibility, which cannot be overstated, entails ensuring resource efficiency, eliminating waste, and aligning budgetary decisions with the nation’s long-term economic development goals,” BudgIT said.

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Ahead of the review of the budget, BudgIT appeals to the lawmakers “to prioritise national interest over personal or parochial considerations and ensure that the approved budget stimulates economic activities and macroeconomic stability, allocates resources to foster economic growth and development, equitably distributes resources to reduce poverty and inequality, and caters to the most vulnerable Nigerians.”

Source: Daily Trust

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