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Further Petrol Price Hike Likely, Marketers Warn Nigerians

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Fuel marketers across the country adjusted their pump prices on Thursday to between N158 and N162 per litre of petrol, saying a further increase in global crude oil prices would push the pump price of petrol higher.

Petrol prices have increased for three straight months, rising from N121.50–N123.50 per litre in June to N140.80-N143.80 in July, N148-N150 in August and N158-N162 in September.

The Petroleum Products Marketing Company, a subsidiary of the Nigerian National Petroleum Corporation had, on Wednesday, increased the ex-depot price of Premium Motor Spirit (petrol) to N151.56 per litre from N138.62 per litre but later reduced it to N147.67.

The ex-depot price is the price at which the product is sold to marketers at the depots.

When the collapse of global crude oil prices triggered the reduction of the pump price of petrol from N145 per litre to N125 in March, the Petroleum Products Pricing Regulatory Agency said it would advise the NNPC and oil marketing companies on the monthly “guiding retail price” at which the product shall be sold across the country.

The Minister of State Petroleum Resources, Timipre Sylva, in a statement on May 15, said deregulation was approved on March 19 this year.

“But as you all know, PMS and other petroleum products are very strategic commodities, so you cannot allow the prices of these commodities to be determined wholly by the marketers,” he added.

In June, the Executive Secretary, PPPRA, Abdulkadir Saidu, said, “For the avoidance of doubt, it is instructive to state that no private individual or group has the mandate to fix prices of petroleum products, however, the statutory regulatory body is saddled with the responsibility of advising guiding prices.”

But the PPPRA failed to issue any guiding prices in August and September and has remained silent since then, despite repeated calls and messages sent to the agency by one of our correspondents on the issue.

The spokesperson of the agency, Kimchi Apollo, however, told our correspondent on Thursday that he would get information on the development and revert. He had yet to do so as of the time of filing this report.

The National Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, told one of our correspondents that the increase in petrol pump prices was a reflection of the global oil prices.

“In July, the crude oil price was around $43 per barrel. But rose to about $44-$45 in August. Last Monday, it increased to $46. If the crude oil price falls to $40, petrol prices will come down. But if it goes up to $50, we should be expecting the petrol price to rise to about N163 per litre if the exchange rate remains the same,” he said.

Osatuyi stressed the need for government to create a level playing field by allowing marketers to also have access to foreign exchange at the official rate like the NNPC to enable them to import products.

The Chairman, Major Oil Marketers Association of Nigeria, Mr Adetunji Oyebanji, said earlier on Thursday that pump prices would have to be adjusted to reflect realities of the increase of ex-depot prices by PPMC.

“However, the magnitude of the increase, timing and location is a decision left to each company. Consistent with global best practices, MOMAN does not dictate prices to its members as this would be anti-competition in a fully deregulated market.

“We welcome the government’s action in allowing the market to determine prices, as we believe it will prevent the return of subsidies while allowing operators the opportunity to recover their costs. This will, in the long run, encourage investment and create jobs,” he added.

But a groundswell of public opposition across the country has greeted the hike in petrol prices.

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INEC Enforces Campaign Deadline In Edo, Bans Publicity Materials At Polling Units

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The Independent National Electoral Commission (INEC) has directed political parties participating in the Edo state governorship election to conclude their campaigns by 11:59pm on Thursday.

On Thursday, INEC spokesperson, Sam Olumekun, issued a statement reiterating the provisions outlined in Section 94 of the Electoral Act 2022. This move aims to ensure compliance with the electoral regulations ahead of the scheduled election on September 21.

Section 94(1) of the act states that: “A person, print or electronic medium that broadcasts, publishes, advertises or circulates any material for the purpose of promoting or opposing a particular political party or the election of a particular candidate over the radio, television, newspaper, magazine, handbills, or any print or electronic media whatsoever called within twenty four hours immediately preceding or on polling day commits an offence under this Act.”

Olumekun said candidates and their supporters should not wear campaign materials to the polling units on Saturday.

“It is therefore illegal for any political party in Edo State to engage in rallies, processions or media campaigns from midnight today,” the statement reads.

“These prohibitions, including sanctions, are provided for in Section 96 of the Electoral Act 2022.

“Similarly, on Election Day, Saturday 21st September 2024, parties, candidates and their supporters should not appear at the polling units in their campaign attires or carry any campaign materials with them.

“We urge parties, candidates and their supporters to take note of the provisions of the law for compliance.”

Meanwhile, Asue Ighodalo, governor candidate of the Peoples Democratic Party (PDP), has ended his campaign.

In a statement issued by Erhabor Emokpae, the Team Asue Media Organisation (TAMO) said Ighodalo’s campaign ended today in line with provisions of the electoral act.

“We would like to inform the general public that the current campaign has been officially concluded by Ighodalo and consequently directed that no activity in this regard should exceed midnight, Sept. 19,” the campaign office said.

“After this time, any publications, advertisements, jingles, or any other promotional materials made in respect of the subject matter have not the blessing, endorsement or authorisation of Ighodalo or all that is associated with him in respect of same.

“Please be advised, therefore, Ighodalo will not be liable or held responsible for any consequences arising from any further campaign or promotional activities or communications conducted after the campaign’s official closing time and date.”

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NAFDAC Shuts Down N50 Million Worth Counterfeit Cosmetics Manufacturing Facility In Lagos

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The National Agency for Food and Drug Administration and Control (NAFDAC) has successfully shut down an illegal cosmetics manufacturing facility located at Benue Plaza, Trade Fair Complex, Lagos State.

This significant enforcement operation targeted counterfeit products.

In a post shared on X (formerly Twitter), NAFDAC revealed that its officers discovered large quantities of unregistered chemicals, expired products, and packaging materials intended for the production of fake cosmetics during the raid.

The operation resulted in the seizure of over 1,200 cartons of counterfeit goods from the location. Alarmingly, expired cosmetics were being revalidated for sale, raising serious concerns about consumer safety.

The agency also confiscated equipment used in the illicit manufacturing process, such as mini-mixing containers, unlabelled chemicals, batch coding materials, and thinners.

These materials were transported to NAFDAC’s office for further investigation. The agency estimates the street value of the confiscated goods at approximately N50 million.

NAFDAC has reiterated its commitment to protecting public health by clamping down on illegal and unregulated products in the Nigerian market.

In a statement, the agency urged consumers to exercise caution when purchasing cosmetics, particularly from unverified sources, and to report any suspicious products to NAFDAC for further action.

This operation underscores NAFDAC’s ongoing efforts to combat the production and distribution of counterfeit goods, which pose significant risks to public health and safety.

The agency has emphasized that such enforcement actions are part of a broader strategy to ensure that only regulated and certified products reach consumers, safeguarding the integrity of Nigeria’s cosmetics market.

In a related development, about 5 months ago NAFDAC sealed several unregistered bakeries and water-packaging companies operating without the agency’s approval in Plateau State.

According to Mr. Shaba Mohammed, Director of NAFDAC’s North Central Zone, the closure followed inspections that revealed substandard Good Manufacturing Practices (GMP) in the water-packaging firms.

As a result, these companies were shut down to prevent the circulation of potentially unsafe products.

In addition to this, numerous patent medicine stores were sealed for selling expired and unregistered medical products.

The raid, part of NAFDAC’s routine inspections in local government areas such as Dengi, Wase, Yelwa Shendam, and Namu, was aimed at enforcing compliance with safety standards and protecting public health.

Mr. Mohammed emphasized that NAFDAC remains committed to ensuring only certified and safe products are available to Nigerian consumers.

He urged the public to be vigilant, choosing only NAFDAC-registered goods, and to report any suspicious or expired products.

He also reiterated that businesses found violating the agency’s regulations would face appropriate sanctions, while advising aspiring entrepreneurs to seek guidance on product registration to avoid penalties.

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BIG STORY

Crisis In PDP Is Creation Of APC, They Want Us To Be In Disarray — Bauchi Governor Bala Mohammed

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Bauchi State Governor, Bala Mohammed, has attributed the crisis within the Peoples Democratic Party (PDP) to interference by the All Progressives Congress (APC).

He made this assertion while receiving members of the PDP Board of Trustees at the Government House in Bauchi.

“Any challenge is not insurmountable, it is insurmountable by the grace of God and we will find a solution to that,” he stated.

“It is only PDP with the experience of governance that is being challenged.”

“You will notice that this is the creation of the other side. They want us to be in disarray, it is the creation of APC. They always want to have moles within us, they want to have knowledge of what is going on.”

“Even the Wike that is in APC is in PDP, he is performing very well. They don’t have people that will perform like our members and that is why they chose to pick him and gave him a state-like structure to run.”

“To us, it is a commendation. The press will see that at least irrespective of the bizarre situation, it is a recognition that PDP has the human capital to deliver Nigeria.”

Gov Mohammed also acknowledged the challenge posed by Wike’s dual role and attributed the party’s crises to opposition from the APC but assured that they have a strategy to navigate the situation.

To him, the PDP’s primary focus was on unifying the party to take over leadership in 2027 and ensure effective governance.

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