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Fuel Price May Fall As Petrol Vessels Berth At Port

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The pump price of Premium Motor Spirit, popularly called petrol, may be reduced in filling stations operated by independent marketers this week, following the massive imports of PMS by the Nigerian National Petroleum Company Limited, oil dealers stated on Saturday.

It was gathered that the recent hike in petrol prices at retail outlets operated by independent marketers was due to the short supply of the commodity, which led to acts of profiteering by both depot owners and filling stations.

But operators in the downstream oil sector confirmed to our correspondent on Saturday night that several cargoes imported by NNPCL had arrived in Nigeria, as some of them were currently discharging at the ports.

“Once the products start hitting filling stations, fuel price will reduce, because the recent high cost was due to supply drop,” the National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, told our correspondent.

On Thursday, oil marketers blamed the emergence of queues for petrol at filling stations in Abuja and neighbouring Nasarawa and Niger states on the low supply of PMS by its sole importer – NNPCL.

However, the national oil company refuted the position of marketers, as it argued that the queues in the affected areas were due to a “price war.”

But going by the latest development concerning the imports by NNPCL, operators in the sector stated that the queues would not only disappear but there would be a reduction in price at independent filling stations.

Currently, petrol is mostly sold at between N580 and N613/litre at filling stations operated by NNPCL. Most other marketers dispense the commodity at higher rates, with some selling PMS for as high as N670/litre.

“The most important thing now is that cargoes carrying PMS ordered by NNPCL have arrived, some of them have berthed and they are discharging. So the partial scarcity we are experiencing now will be gone,” Ukadike said.

He noted that the inflow of foreign exchange during the Yuletide would not necessarily impact petrol prices, rather the increased imports by NNPCL should warrant a reduction in price.

He said the large PMS imports were confirmed to marketers by NNPCL.

On whether marketers had started receiving the products, Ukadike replied, “By Monday we will start receiving from Port Harcourt and Warri, based on my last discussion with the NNPC management.”

Another major marketer also confirmed the position of IPMAN, as he stated that “when you wet the market with products, there’ll be no room for profiteering.”

Earlier, the Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, stated that the position of oil marketers as regards the re-emergence of fuel queues was not true, as he insisted that the oil firm had enough products.

“That is not true. The recent tightness in Abuja is essentially a price war which is typical of any competitive market. Motorists would rather queue at filling stations that offer lower prices than others.

“While NNPC retail is selling at N613/litre in Abuja, other marketers’ prices range from N625-N650/litre,” Soneye said.

BIG STORY

200-Level Student Who Murdered FUNAAB Undergraduate Was Fellow Church Member

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Ayomide Adeleye, a 200-level Philosophy student at Olabisi Onabanjo University (OOU), Ogun State, has been arrested for the kidnapping and murder of Christianah Idowu, a 300-level student at the Federal University of Agriculture, Abeokuta (FUNAAB).

Adeleye, who knew Christianah from attending the same church in Ogun State, allegedly lured her into his home under the pretense of offering shelter during a heavy rainstorm. He then attempted to assault her, and when she resisted, he killed her.

Following Christianah’s disappearance, Adeleye contacted her family using her phone and demanded a ransom of N3 million. However, his attempt to extort money led to his capture as intelligence officers traced him using his bank details and BVN information provided when he collected the ransom.

The case has sparked outrage, with many calling for swift justice for Christianah and a stronger response to gender-based violence in Nigeria.

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NURTW Boss Koko Zaria Arraigned For Allegedly Assaulting Nollywood Actor Baba Lawori, Granted N2m Bail

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National Union of Road Transport Workers (NURTW) Chairman, Koko Zaria, (Ganiyu Oyedepo), has been remanded in prison custody by a Lagos Chief Magistrate Court for allegedly assaulting Nollywood actor, Alhaji Ade Adele, popularly known as Baba Lawori.

Oyedepo was arraigned on Wednesday on charges of conspiracy, assault occasioning harm, and conduct likely to cause breach of public peace.

He pleaded not guilty to the charges brought against him by the operatives of the Force Criminal Investigation and Intelligence Department (FCIID).

The prosecutor, Morufu Animashaun, a legal officer in the legal department of FCIID, Alagbon, in a charge marked B/40/2024, told the court that the defendant committed the offences on June 5, 2024, at Idimu, by conspiring with some of his ‘boys’ to assault Adele.

He said in the course of the assault, Oyedepo’s boys, injured Adele in the head with a bottle.

He told the court that the offences committed by the defendant, contravened sections 411; 173 and 168 (l)(d) of the Criminal Law Ch. C17, Vol. 3, Laws of Lagos State and punishable under section 168 (2) of the same laws.

The charges read; “That you Ganiyu Oyedepo on or about the June 25, 2024 at Idimu, Lagos in the Lagos Magisterial District, Lagos conspired to commit Felony wit: Assault Occasioning Harm and committed an Offence contrary to Section 411 of the Criminal Law Ch. C17, Vol. 3, Laws of Lagos State.”

“That you Oyedepo on the said date unlawfully procured one of your boys (now at large) who unlawfully broke bottle and inflicted injuries on the head of one Alhaji Ade Adele and committed an Offence contrary to Section 173 of the Criminal Law Ch. C17, Vol. 3, Laws of Lagos State 2015.”

“That you Oyedepo conducted yourself in a manner likely to cause breach of peace when you threatened and procured one of your boys (now at large) to break bottle on the head of Adele and committed an Offence contrary to Section 168 (l)(d) of the Criminal Law Ch. C17, Vol. 3, Laws of Lagos State 2015 and punishable under Section 168 (2) of thé same Criminal Law Ch. C17, Vol. 3, Laws of Lagos state 2015.”

But, Oyedepo (Koko Zaria) denied the allegations and pleaded not guilty to the charges.

His lawyers, S. Bello with S. O. Ajetomobi, moved for bail application, saying the charge against their client is a bailable one. They urged the court to grant him bail in the most liberal terms.

Chief Magistrate Sonuga after hearing counsels’ submissions granted Oyedepo bail in the sum of N2 million with two sureties in like sum.

The sureties, according to the Chief Magistrate, must be of unquestionable character, with evidence of means of livelihood and must be residing within the court’s jurisdiction.

The Chief Magistrate also ordered the sureties to present to court evidence of three years tax, and have their addresses verified.

Chief Magistrate Sonuga, while adjourning the matter to October 29, for mention, however, remanded the defendant in the Nigerian Correctional Services (NCoS) custody, pending the perfection of the bail terms.

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Petrol Price Hike: NANS Insists On Nationwide Protest, Says “We Are Capable Of Holding Government To Ransom”

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The National Association of Nigerian Students (NANS) has vowed to proceed with its planned nationwide protest against the petrol price increase.

NANS Senate President, Henry Okuomo, made this known on Channels Television’s Sunrise Daily.

Okuomo emphasized that the union is capable of holding the government accountable, citing dissatisfaction with the current hardship situation in the country.

He said, “We are not threatening a strike. That is what we are going to do because of the current situation of the country. Nigerians are currently facing a lot. We are facing hardship, and now, the government has increased fuel prices again. This has affected us as students. And as student leaders, we don’t have a choice now but to fight for the people.

“We are occupying one of the largest stakes in the country, having over 40 million Nigerian students in the country.

“With that, we think we should make our voice loud at this time to save the Nigerian people from this undue stress and suffering being put upon them by the government.

“We have determined that on the 15th of this month, no going back. We are hitting the street hard.

‘We are going to demand not only for a reduction in fuel price but for other things that are affecting the nation in general.

‘We are going to do it. We will hit the streets if the government does not reverse most of the hardship policies before then.”

The group earlier called for the reversal of the petrol price and the removal of the Group Chief Executive Officer (GCEO) of Nigerian National Petroleum Company Ltd (NNPCL), Mele Kyari.

The clarification comes after a factional Senate President of the association, Babatunde Akinteye denied that the group was organising a protest against the increase in petrol price.

Akinteye had called on security agencies to investigate the source of the misinformation.

He said, “We strongly urge the public, the media, and all stakeholders to disregard these false reports. The individuals or groups behind these rumours are faceless entities who seek to exploit the name of NANS for their malicious purposes.

“They aim to destabilise the country and create unnecessary tension among citizens. We categorically disassociate ourselves from any such plans or intentions.

“We hereby call on the security agencies to launch a thorough investigation into the origin of this misinformation. Those responsible for spreading these falsehoods must be identified and held accountable.

“The use of the NANS name to propagate such dangerous and unfounded claims is not only a threat to national security but also a grave disservice to the millions of students who genuinely seek positive change through legitimate means.

“Furthermore, we urge security agencies to act decisively in apprehending any individuals or groups attempting to use the name of NANS to incite unrest or disrupt the peace of our nation. We must collectively ensure that the integrity of our democratic processes and the rule of law are upheld at all times.

“NANS remains steadfast in its mission to advocate for the rights and welfare of Nigerian students. We will continue to pursue this mission through peaceful, lawful, and constructive channels. Let it be known that NANS stands firmly for peace, progress, and the unity of our nation.”

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