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Sources Reveals That Petrol Subsidy Is Back

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Petrol subsidy is back. The Nigerian National Petroleum Corporation (NNPC) has been offsetting for months, the difference between the landing costs of petrol and the pump price.

In series of interviews with knowledgeable players in the sector, NAN can report authoritatively that the landing costs per litre of petrol is higher than the price Nigerians pay at the pump.

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According to a source, who is a staff of the Ministry of Petroleum Resources, government being a listening one has been quietly bearing the differential.

“The landing costs hovers around N160 to N165. The marketers buy from us and so the government bears it because it feels it will be unfair to make the consumer pay the difference.”

“With the current recession, the government will not want to burden the people with a price hike,” the source said.

Both the NNPC and the government are also concerned by the recent smuggling of petrol across the porous Nigerian borders to Chad and Niger, where a litre of petrol goes for over N400, compared to Nigeria’s N145.

A staff of the Petroleum Products Pricing Agency (PPPRA), who also preferred anonymity, said the marketers had no moral right to divert fuel meant for the people.

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“For now Forex is a big issue,” the source said adding that “but the NNPC sells virtually everything it imports to them. So no marketer has any right to divert fuel.”

“If indeed the product is being sold for N400 in Niger Republic like you said, the Nigerian marketer has no right to look there.

This is because NNPC is paying the difference just because it wants every Nigerian to have easy access to the white products.

The fluctuating foreign exchange has not helped matters, but even the marketers cannot complain because government bears the brunt of the whole thing,’’ the source reiterated.

However, a source at the NNPC fears that government may find itself overburdened by the subsidy as the economy is still caught in a web of recession.

“Soon the government may not be able to pay the price difference again because it runs into billions of naira,” said the source.

“Recall that at a workshop last year, an engineer with the corporation had said partial deregulation was unreasonable, he was right.”

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“The solution is full deregulation. Let the consumer feel it once and for all. This politics of walking around the problem won’t help at all.’’

On May 11, 2016 the Federal Government, through the PPPRA, had announced a new petrol regime of N135-N145 from its previous price of N97, which was heavily subsidised.

This increase led to various economic emergencies that affected all sectors and since Nigeria operates an oil-dependent economy, the impact was felt on external reserves, exchange rate, gross domestic product and inflation rate.

The Minister of State for Petroleum, Dr. Ibe Kachikwu, had at the time said he would prefer to use the word liberalization rather than deregulation.

Kachikwu ‎said the major plan of the Federal Government was to stop importation of petroleum products in the long term.

The global oil benchmark, Brent crude, which was trading around $41 per barrel when the petrol price was increased, is now $55.64 per barrel.

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OPINION: Before you vote Buhari for a second term

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By Temidayo Ayodele
Nigeria-President-Muhammadu-Buhari-presenting-2019-budget-at-National-Assembly-Abuja
Without a doubt, Nigerians’ experience of President Muhammadu Buhari during his days as a military leader spurred high expectations of his government to be the ‘fixer’ Nigeria always wanted.

He was perceived to be a military dictator-cum-democratic hero in a country where corruption was on the rampage, the economy was deteriorating and a country held hostage by the Boko Haram insurgency groups and other security challenges.

Prior to his election, Buhari promised us that his government will give corruption a ‘no nonsense’ approach. He told us that the Naira that was at N147 to the dollar then will be N1 equal through programmes earmarked to revive the economy. And lastly, Buhari assured us that we would be sleeping with our two eyes closed because insecurity would be death with.

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Buhari also promised us that the price of petrol products would drop from N87 to N60.

Three years since his election, the reverse is the case. I’m disappointed. A lot of Nigerians are disappointed likewise. Petrol price is now almost doubled at N147.

The fight against corruption under Buhari is partisan and witch hunting of opposition. Naira is now N360 against the dollar and Boko Haram has killed over two thousand Nigerians, while over 500,000 have been displaced due to increasing insecurity challenges.

Maybe the warning signs against our expectations were there but many of us didn’t see it or we just wanted ‘somebody else’ asides former president Goodluck Jonathan and the People’s Democratic Party (PDP).

Who would forget how Buhari (PMB for short) was a big media darling? How excited we were of displacing a government and a political party adjudged to be corrupt with a “man of integrity and high values”. We are not to be blamed for trusting Buhari to sail our ship to the promised land. We just wanted to leave Egypt.

Like the Israelites were displeased with Moses, we are in a similar dilemma. Socially, economically and politically, a few of us can relate to the blurry future that awaits us should PMB remain in the helms of affairs.

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I plead with my fellow Nigerians that chanted ‘Sai Baba’ in 2015 to listen to words of the elders, which says, “A dog that is about to go astray will not listen to the hunters whistle”

Ironically, one would expect that a man who had previously contested and lost in an election three times will understand national issues better after previous losses.

It is disheartening to note that a man who the people voted to lead them comfortably led a government for 6 months without ministers. His excuse was that he was scouting for the “right” persons. What did Nigerians do? We did nothing and as usual, we moved on!

Besides all other inadequacies in governance, Buhari is undoubtedly nepotic, tribalistic and divisive leader.

“I hope you have a copy of the election results. The constituents, for example, gave me 97% (votes)- (they) cannot, in all honesty, be treated on some issues with constituencies that gave me 5%. I think these are the political reality,” Buhari said in an address at the United States Institute of Peace (USIP) on 22nd of July 2015.

While some may argue that Buhari’s statement is merely political reality, I think it is careless to say as a leader of over 190 million people. It also portrays PMB’s intent of being a leader who is not willing to unite us a people. Hence, the talks of PMB running an uninclusive and lopsided government is evident in words and in deeds.

Another matter of concern is President Buhari’s medical fitness. Buhari is 76 with a rich history of medical vacations, including the historic unofficial vacation of 104 days in the United Kingdom. The responsibility of leading the most popular black nation on earth is beyond Buhari’s strength.

The consistent derail in Buhari’s physical and mental strength cannot be overemphasized. Twice at the his re-election campaign rallies in Delta and Ekiti State, Buhari committed some politically unforgivable blunders.

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In Delta State, he pronounced the APC governorship candidate Ogboru as the presidential candidate, despite correction, he doubled the blunder, saying the governorship candidate was the senatorial candidate before assimilating the corrections after a third attempt.

Similarly in Ekiti State, the same blunder was not just committed, but toppled when Buhari fell off a walk path at the rally and had to be helped up by escorts. Buhari is not fit to lead us for another four years.

A man of his age ought to be resting with his family. However, a few ‘powerful’ Nigerians are imposing Buhari on a larger population for their selfish and gains.

It is no longer news that since his election as president in 2015, Buhari was never in charge of governing Nigeria as he was elected to, instead a few people.

Buhari’s wife, Aisha, on two occasions attested to this when she said he husband was not in control of Nigeria, but ‘two powerful people’.

Conclusively, President Muhammadu Buhari, you have run a good run, we thank you for all you have done, please return to Daura and get a much-deserved rest.We love you.

As we go to the polls again, we have to be wise, conscientious and logical in committing the next four years of our lives to the hands of any individual.

Your vote counts. If it does not, politicians won’t lobby to buy it. Your vote is your future, do not trade it for anything.

The time has come to determine which path our ship will sail for the next four years. Together, let’s sail Nigeria to the promise land, to the land flowing with milk and honey. God bless Nigeria.

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How two men drugged, raped girl

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The Gender Section of the Lagos State Police Command is investigating a case of rape reported against one Razaq Oluwaseun Oke, 28, and Don-Chima George, 25, of Dallankester Hotels, Lekki, Phase one Lagos.

The duo allegedly took a girl, 23, to a club on Saturday, February 2, 2019, unknown to her that they had evil motive. While at the club, they mixed the young woman’s drink with a substance that made her weak and almost unconscious.

According to Lagos State police spokesman, Chike Oti, a Chief Superintendent of Police (CSP), “Satisfied that the drug was beginning to affect the victim, they quietly left the club with her to Dallankester Hotels in Lekki Phase one, owned by the father of one of the suspects named Don-Chima George. At the hotel, they took turns to rape her. As if that was not enough, they recorded a video of the abused girl.

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“When the victim woke up from the induced sleep, she confronted the suspects who denied having carnal knowledge of her. Not satisfied, she placed a call to her elder brother complaining that she had been violated.

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“The brother immediately invited policemen from Maroko Division led by the Divisional Police Officer, CSP Isah Abdulmajid to the scene. On searching the suspects, the DPO recovered their phones and went through their video recordings where he saw a video of the suspects sexually abusing the apparently unconscious victim”.

Lagos State Commissioner of Police, CP Edgal Imohimi has directed the Gender Section of the Command to investigate and diligently prosecute the suspects to serve as deterrent to others.

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PDP berates Buhari over claim of assuming office in 2005

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• President is weak, tired, can’t continue, says Secondus

For referring to the year he assumed office as 2005 instead of 2015, the Peoples Democratic Party (PDP) in Ekiti State has described another gaffe by President Muhammadu Buhari’s as a national disgrace and embarrassment.

The party said those still rooting for Buhari’s reelection in spite of his clear demonstration of lack of intellectual capacity, were enemies of Nigeria and its citizens.

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Director of Media and Publicity, Atiku/Obi PDP Presidential Campaign Council in Ekiti State, Lere Olayinka, said in a statement yesterday that Nigerians should ask leaders of the All Progressives Congress (APC) how a man who could no longer remember when he assumed office should continue to preside over a country of over 200 million people.The President had said in Ado-Ekiti yesterday that, “I assure you that we are conscious of the promises we made when we came into office in 2005.”

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Olayinka, who said he was sure those still supporting President Buhari will never pray that God should give their children his kind of brain, stressed that the only reason the cabal running the country wants him (Buhari) to remain in office was to guarantee their 2023 presidential ambition and access to the national treasury.

“Nigerians must not allow the cabal to impose calamity on the country for another four years. They knew even in 2015 that President Buhari lacked both mental and physical capacity to run any business venture and that explained why he could not grow his cows from 150 for 12 years,” he stated.Elsewhere, National Chairman of the PDP, Prince Uche Secondus said that President Buhari was tired, weak and could not go further and therefore, should surrender power.

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He said the propaganda could not work for the APC, as the party could no longer deceive Nigerians. Addressing PDP members in Bauchi, Secondus said: “Nothing can help him (Buhari) because he cannot interface, interact or engage. We believe that Atiku Abubakar can engage anybody in Nigeria.”

Addressing supporters at the Abubakar Tafawa Balewa Stadium in Bauchi yesterday, Atiku regretted supporting APC in the 2015 general elections.

“Three years have passed, what has APC done for you except hunger, poverty and lies? Also, Speaker, House of Representatives, Yakubu Dogara enjoined the electorate to vote Atiku to stop the lingering poverty in the Northeast, saying if truly Nigeria was the capital of poverty, the Northeast was its stronghold.

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