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Get Ready For Another Hike In Petrol Price —– FG

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As crude price hits almost $60/barrel, the Federal Government has asked Nigerians to prepare for another hike in petrol price because the international price has a direct bearing on the cost of refined products.

The Minister of State, Petroleum Resources, Mr Timipre Sylva, gave the hint at the launch of the Nigerian Upstream Cost Optimisation Programme (NUCOP).

According to him, “the higher the price of the crude oil at the international market, the higher the price of refined products like petrol, diesel and the rest”.

He said that the increase would reflect market realities, assuring the citizenry that mechanisms were in place to insulate the consumers from predatory practices of oil marketers.

In four months, the pump prices of petrol have risen from N121.50 to N123.50 per litre in June; N140.80 to-N143.80 in July; N148 to N150 in August; N158 to N162 in September and N163 to N170 in November.

Sylva said there was no way the Nigerian National Petroleum Resources (NNPC) could shoulder any form of subsidy because it was never provided for in the 2021 budget since the Federal Government had ditched the subsidy regime since last year.

Since November 13, 2020, when the local pump prices of petrol were last increased, the price of the international oil benchmark, Brent crude, has increased from $41.51 per barrel to $59.34 per barrel last weekend.

In June 2020, the Federal Government leveraged on the COVID-19-induced slump of global crude oil prices to totally yank off subsidy, to enable it free funds for other areas of the economy.

In December 2020, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kolo Kyari, disclosed that from 2016 to 2019, the Federal Government had spent over N3 trillion subsidising the pump price of petroleum products, particularly petrol, insisting that the subsidy regime did not benefit the masses that the President is passionate about.

Oil marketers in December expected another upward adjustment of PMS prices to reflect the further rise in crude oil prices, which closed at $51.22 per barrel on December 31.

However, a N5 reduction in petrol price, effective December 14, was announced by the Federal Government. It did not go down well with them as they saw it as an interference in price-fixing.

While the crude oil price is a strong determinant of the final cost of petrol, Nigeria has continued to suffer low domestic refining capacity, forcing the government to import the products.

Some marketers are predicting that the pump price of petrol should be around N190/litre as against the current price of between N162-N165/litre. They have expressed their concerns over the non-implementation of the full deregulation of the downstream petroleum sector as the pump prices of petrol have remained unchanged for over two months, despite the recent increase in global oil prices.

Oil marketers are peeved over their inability to access foreign exchange at the official rates to import products.

Daily Sun findings reveal that some NNPC stations in Abuja, at the weekend, quietly adjusted their pumps to N162/litre from N158/litre.

The President of the National Association of Road Transport Owners (NARTO), Mr Yusuf Lawal Othman said the body was awaiting the Federal Government’s pronouncement on the new bridging cost (freight rate) of N9:11k per litre, as against the current rate of about N7.51/litre.

According to him, the new bridging cost was long overdue considering the unsavoury environment members of the association operate in.

Analysts note that once the new bridging cost comes to play, it will increase petrol cost to a new price, regardless of crude cost.

Meanwhile, Nigerians may face another round of horrendous petrol scarcity, as depot owners reportedly shut down their operations on Monday, claiming that they have run out of products.

Sources at the Independent Petroleum Marketers Association of Nigeria (IPMAN) also noted that the depot owners were temporarily winding down operations because of an anticipated increase in petrol price, which reverberates on their operations as well.

The confusion has been worsened by the silence of the Pipeline Products Marketing Company (PPMC), that is yet to unveil the new dealer price to oil marketers.

Daily Sun learnt that depot owners have raised their price by N7. In context, depots have increased their price from N148 to N155.

It was gathered that IPMAN was yet to direct its members to hike their pump price since it was not certain that the depots carried out a legitimate adjustment of their prices.

The cost of petroleum products is one of the components of the total landing cost of petrol in the pricing template of the Petroleum Products Pricing Regulatory Agency (PPPRA).

Freight cost is also one of the components of the total landing cost in the agency’s pricing template.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies pledge to continue to cut down on crude oil inventories and expected increase in global demand due to the roll-out of COVID-19 vaccine in some major economies.

BIG STORY

POLITICS: Rest 31-Year Presidential Ambition — Bode George Tells Atiku Abubakar

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A former Deputy National Chairman of the Peoples Democratic Party, Chief Bode George, has advised former Vice President Atiku Abubakar to end his 31-year-long bid to be President.

Noting that Atiku’s bid to be President dated back to 1993, George said it was high time the former Vice President retired from such a contest, especially in the 2027 election.

Addressing a press conference at his Ikoyi, Lagos office, on Thursday, George urged Atiku to assume the position of an elder in the nation and leave his bid to posterity.

“To Atiku, my advice is this, you will be 81 years old in 2027, and you have been contesting for the presidency since 1993. This is the time for you to calm down and act like an elder. I appeal to you in the name of the Almighty Allah, that you serve, to take it easy and leave everything for posterity,” George said.

George decried that the PDP was on the verge of crumbling because people uplifted their personal interests and individual ambitions above national interest.

He criticised the “divisive, arrogant, haughty” members of the party romancing the ruling All Progressives Congress yet failing to defect from the PDP, describing them as cowards.

“We are where we are today because of a self-inflicted crisis; we should bury our individual ambitions now and not allow the PDP to crumble, please. Elders of the party should tell some of these funny characters to cool off and think of our national interest instead of their personal interest.

“Nigerians are angry and hungry. Instead of telling the APC the truth, some divisive, arrogant and haughty members are busy romancing the ruling party and they are quick to refer to themselves as elder statesmen. Instead of instigating a crisis in our party, why are they not bold enough to defect to the APC? Do they really fear God at all? No member is big enough to hold the party to ransom,” George added.

Particularly pointing to the crisis between Rivers State Governor, Siminalayi Fubara, and his predecessor and Minister of the Federal Capital Territory, Nyesom Wike, George urged Wike to immediately “cool off” from wanting to “bring down” Fubara.

George said it was worrisome that some party members, rather than bringing the two parties to mediation, further fuelled the Fubara/Wike crisis for their selfish interests.

“My advice to Wike is very simple. You are my political son. I am therefore appealing to him to cool off immediately. I know he was injured by friends during the last PDP presidential contest, but I am advising him as a father to please take it easy. Nobody is bigger than any party. Forget what happened in the past and let us work together in the interest of this party.

“I want to ask the elders at the helm of affairs of our party today, ‘What exactly is the offence of Governor Siminalayi Fubara of Rivers State?’ What exactly is the offence of this gentleman that some elders of our party are trying to throw him under the bus because of political expediency? What exactly is going on that some party members don’t feel bothered about the happenings in Rivers State? Governor Fubara was helped by Governor Wike to become the number one citizen of the oil-bearing state. The governor himself acknowledged this on several occasions.

“Must the governor now behave like a slave to his predecessor and other characters because of this concept of godfatherism which is a misnomer in our politics? Why are some party members encouraging his predecessor to bring him down? He is in Abuja; he wants to control what goes on in Rivers State.

“Did the governors before him behave this way? Why are the party leaders not eager to mediate and bring both groups to normalcy? The PDP cannot continue like this. Why can’t we learn from our past mistakes? Is our party jinxed? Why can’t we tell all these troublemakers to go and sit down if they don’t want this party to move forward?”

The National Assembly has amended the National Drug Law Enforcement Agency Act, prescribing life imprisonment for drug offenders and traffickers.

This decision followed the adoption of the harmonised report by the Senate and House of Representatives on the NDLEA Act amendment.

Presenting the report, the Chairman of the Senate Conference Committee, Senator Tahir Monguno, explained that the amendment sought to impose stricter penalties to deter illegal drug activities.

The amendment specifically stated: “Any person who unlawfully engages in the storage, custody, movement, carriage, or concealment of dangerous drugs or controlled substances and, while doing so, is armed with an offensive weapon or disguised in any manner, commits an offence under this Act and is liable, upon conviction, to life imprisonment.”

The Senate approved the recommendation through a voice vote during Thursday’s plenary, presided over by the Deputy Senate President, Barau Jibrin.

In addition to the NDLEA amendment, the Senate also passed a bill to empower the Revenue Mobilisation, Allocation, and Fiscal Commission.

The proposed legislation, known as the Revenue Mobilisation, Allocation, and Fiscal Commission Bill of 2024, sought to replace the existing RMAFC Act of 2004.

The updated law revises the commission’s composition and operational framework to ensure federal, state, and local governments receive constitutionally mandated resources to address governance and developmental challenges.

Presenting the bill, the Chairman of the Senate Committee on National Planning and Economic Affairs, Yahaya Abdullahi, highlighted the urgency of reforming the commission in light of Nigeria’s dwindling revenues and growing population.

Abdullahi explained that the bill aims to strengthen RMAFC’s mandate as the constitutionally recognised body responsible for monitoring revenue generation and ensuring its equitable distribution among the three tiers of government.

“The Act, last revised over 20 years ago, no longer reflects Nigeria’s evolving economic realities. This bill proposes additional funding and a restructured operational framework for the commission to improve its efficiency,” he said.

He further emphasised that adequate funding from the Federation Account was critical for RMAFC to perform its constitutional responsibilities effectively, noting that funding challenges had previously hindered its performance.

The Senate endorsed the bill following deliberations and a majority vote.

It now awaits President Bola Ahmed Tinubu’s assent to become law.

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BIG STORY

Man, Girlfriend Arrested For Kidnapping, Murder Of 70-Yr-Old Woman In Enugu

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A 33-year-old man, Ikechukwu Okoye, and his 39-year-old girlfriend, Juliet Ogbodo, have been arrested by the Enugu State Police Command for allegedly kidnapping and murdering a 70-year-old woman, Mrs. Mary Nwatu.

The suspects, both from Onuorie-Obuno in Akpugo Community, Nkanu West Local Government Area of the state, are accused of killing the victim and burying her in a shallow grave before demanding a ransom of N6 million from her children.

They were apprehended after receiving N20,000 from the family, ostensibly to facilitate a phone call with the victim.

In a statement issued Thursday night, the command’s spokesperson, DSP Daniel Ndukwe, revealed that the arrest was made by the command’s Anti-Kidnapping Tactical Squad, based on credible intelligence.

According to Ndukwe, preliminary investigations showed that Mrs. Nwatu was reported missing on September 15, 2024.

“On October 5, 2024, the principal suspect, Ikechukwu Okoye, who is also a kinsman of the victim, contacted her children, demanding a ransom of N6 million,” Ndukwe stated.

Okoye was later arrested and reportedly confessed to the crime.

“He admitted abducting Mrs. Nwatu on September 14, 2024, at about 8 am when she came to their house to look for his mother.

“He further confessed to killing her and burying her in a shallow grave inside an uncompleted building in the compound,” the police officer said.

The suspect also admitted to demanding a ransom from the victim’s children, initially requesting N6 million before negotiating it down to N3 million.

However, he accepted an initial payment of N20,000 on the condition that the family would hear their mother’s voice over the phone before making further payments.

Juliet Ogbodo, Okoye’s girlfriend, also confessed during interrogation that she was aware of the crime but claimed she did not report it to authorities out of fear.

The victim’s remains have since been exhumed and taken to a mortuary for preservation and autopsy.

Ndukwe assured the public that the suspects, along with any others found complicit, would be arraigned in court once investigations are concluded.

“The Enugu State Police Command remains committed to ensuring justice for the victim and her family,” Ndukwe said.

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BIG STORY

FG Pushes For Simon Ekpa’s Extradition As IPOB Disowns Biafra Agitator

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The Federal Government will likely apply for the extradition of Simon Ekpa, the leader of the Eastern Security Network, the paramilitary organization of the Indigenous People of Biafra.

The Director of Defence Information, Brig Gen Tukur Gusau, who gave the indication on Thursday, said Ekpa, a self-proclaimed disciple of IPOB leader, Nnamdi Kanu, should be extradited to Nigeria to face criminal charges.

Also, many Nigerians online demanded his repatriation to Nigeria to face terrorism charges.

However, the IPOB dissociated itself from the embattled Biafran separatist, asserting it had no relationship with him.

Ekpa is one of the 97 individuals declared wanted by the Defence Headquarters in March 2024.

The Finland-based Biafran agitator is a close ally of the IPOB leader, Nnamdi Kanu, who is facing charges of terrorism, treasonable felony, and inciting violence through his Radio Biafra, amongst others.

He has been in the custody of the Department of State Services since 2021 when he was arrested in Kenya and brought back to Nigeria.

A presidential spokesman, Daniel Bwala, said President Bola Tinubu and the National Security Adviser, Nuhu Ribadu, have yet to be briefed on the arrest of Ekpa.

“The procedure is that the (Nigerian) Embassy in Finland has to have the information and it would brief the Ministry of Foreign Affairs and the minister might brief the NSA or the President,’’ he explained.

Ekpa and four others were arrested in Finland on charges related to terrorism, Finland’s Central Criminal Police said in a statement on Thursday.

A report said the District Court of Päijät-Häme, Finland, ordered that Ekpa be imprisoned “with probable cause on suspicion of public incitement to commit a crime with terrorist intent.”

Speaking on the development in a statement on Thursday, Gusau said the Chief of Defence Staff, Gen Chris Musa, was pleased with the trial of the ESN leader.

Gusau wrote, “CDS is happy with his arrest in Finland, with the hope this will be a step towards his extradition to Nigeria so that he will face justice.”

Ekpa, a Finnish citizen of Nigerian origin, was accused of inciting crimes with terrorist intent, while the other suspects face charges of financing terrorism.

He was arrested in February 2023 for his inciting comments and sit-at-home orders to the people of the South-East.

Before his arrest, thousands of Nigerians worldwide signed a petition appealing to the Finnish and Nigerian governments and the European Union to arrest Ekpa.

He had asked the people to boycott the 2023 general poll, insisting there would be no election in the region.

Worried by his activities, the Ministry of Foreign Affairs summoned the Finnish Ambassador to Nigeria, Leena Pylvanainen, over his threats to stop the 2023 general election in the South-East.

The ministry sought the Finnish government’s cooperation to arrest Ekpa over threats to disrupt the exercise.

The Finnish police confirmed on Thursday that Ekpa and his accomplices were arrested earlier this week as part of an international investigation.

Ekpa, who describes himself as the “Prime Minister” of the Biafra Republic Government-in-Exile, is alleged to have used social media platforms to promote violent activities in the South-East, including attacks on civilians and authorities.

The police said the main suspect was arrested “on suspicion of public incitement to commit a crime with terrorist intent,” while four others were arrested “for financing a terrorist crime.”

The police added: “Claims will be heard in Päijät-Häme district court today, November 21. The detention demands are related to the preliminary investigation, in which a Finnish citizen of Nigerian background, born in the 1980s, is suspected of public incitement to commit a crime with terrorist intent.

“The police suspect that the man has promoted his efforts from Finland by means that have led to violence against civilians and authorities as well as other crimes in the region of South-Eastern Nigeria” the statement read in part.

Speaking on the case, Crime Commissioner Otto Hiltunen stated, “The man has carried out this activity, among other things, on his social media channels,” suggesting that his online actions have fueled violence in Nigeria.

“Four other persons are suspected of financing the aforementioned activity. All five suspects in the crime were arrested at the beginning of the week.

“International cooperation has been carried out during the preliminary investigation,” the statement added.

The four other suspects, whose identities have not been disclosed, are believed to have financed these alleged activities.

The Central Criminal Police revealed that the case involved extensive international collaboration.

The Finnish authorities emphasised their commitment to investigating the case thoroughly as part of their broader effort to combat terrorism.

Expressing delight over Ekpa’s arrest and ongoing trial, the Director of Defence Media Operations, Maj. Gen Edward Buba, said the military was pleased with the news.

The Chief of Defence Staff had severally called for Ekpa’s arrest, accusing him of sponsoring terrorism in the South-East.

Buba noted that the military was glad that the international community was supporting the country in its fight against terrorism.

He stated, “The CDS has always called for the arrest of Simon Ekpa following his deep involvement in fuelling terrorism in SE Nigeria. We are delighted about his arrest, and glad that the international community is partnering with Nigeria in our fight against terrorism.”

The ESN has been implicated in numerous violent activities in the South-East since its creation in December 2020.

While the ESN was initially formed to counter the activities of armed herdsmen and protect local communities, their operations have reportedly led to significant unrest in the region.

The group has been accused of ambushing and killing troops of the Nigerian Army, police, and other security personnel.

Police stations and military checkpoints in the South-East have been frequent targets, leading to loss of lives and property.

Also, the ESN has been linked to arson attacks on public facilities such as police stations, electoral offices, and government buildings, disrupting governance and public services in the region.

There have been allegations of extrajudicial killings by the ESN, including attacks on individuals accused of opposing IPOB’s secessionist agenda or cooperating with the government.

Some communities have reported being harassed or forced to comply with the group’s directives, including its Monday sit-at-home orders, especially during days commemorating Biafra or protesting the detention of IPOB leader, Nnamdi Kanu.

Defiance of these orders had led to attacks on businesses, vehicles, and individuals, paralyzing economic activities in the South-East.

Conflicts between the ESN and local vigilante groups, including state-backed security outfits like Ebube Agu, have resulted in casualties and instability, escalating insecurity in the South-East.

The situation had led to heightened military operations in the region, sometimes resulting in collateral damage and further alienation of local communities.

The Federal Government labelled the ESN a terrorist organisation and launched several military operations to dismantle it.

On Monday, Anambra Central Senatorial Zone descended into chaos as gunmen enforcing the sit-at-home order attacked Abatete, Abagana, and Ukpo communities, leaving five people dead and several others injured.

At Abatete, three vigilantes attached to the town’s president-general were fatally shot. The victim sustained critical injuries and was rushed to a nearby hospital.

Also, vehicles were set ablaze by the attackers who repeatedly warned the people to respect the sit-at-home order.

Witnesses reported further violence in Abagana and Ukpo. At the Ukpo roundabout in Dunukofia Local Government Area, a vigilante member and a motorcyclist were reportedly gunned down.

Meanwhile, IPOB denied any relationship with Ekpa, saying it had publicly asked the people and relevant authorities to stop linking it with the embattled Biafran agitator.

Reacting to the arrest of Ekpa by the Finnish authorities, IPOB spokesman, Emma Powerful, maintained that his organisation had nothing to do with Ekpa and his group, Autopilot.

He said, “We are not interested in his arrest. All we want is for the release of our leader, Mazi Nnamdi Kanu, who has not committed any offence and who has been freed by the law courts. That is our concern.

“We have reiterated on several occasions that the Ekpa had no relationship with the IPOB from the formation to date and he had nothing in common with the Biafra struggle.

“For a long time, IPOB has maintained that there is nothing like autopilot in IPOB. More so, the criminal gang leader in Finland has no relationship with ESN from the formation of ESN to date or with IPOB. The authorities should stop linking IPOB with Ekpa and his group and IPOB is not interested in his arrest or whatever.”

“All we want is for the Nigerian government to release our leader who has been detained for no known crime other than fighting for the liberation of his people.”

Spokesman of IPOB’s Political Wing, Nwachukwu Emereonye, called for the immediate extradition of Ekpa to Nigeria to face the consequences of his actions.

While speaking to journalists on the development, Emereonye noted that Ekpa’s actions led to the death of scores of innocent people and destruction of businesses in the South-East.

He said, “We in IPOB Political Wing welcome the arrest of Simon Ekpa. His actions are unbecoming. Scores of people have been killed and properties worth billions of Naira destroyed.

“He should be handed over the Nigerian government for immediate prosecution.”

 

Credit: The Punch

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