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Govs Okay Full Deregulation of Petrol, N385 Pump Price

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Ahead of today’s Federation Accounts Allocations Committee (FAAC) meeting, the Nigeria Governors’ Forum (NGF) yesterday at its virtual meeting considered the report of a committee headed by Kaduna State Governor, Mallam Nasir el-Rufai, and accepted its recommendation that backs full deregulation of petrol, and suggests that the pump price of the product should hover around N385 per liter.

According to THISDAY, the committee also recommended that the federal government should buy 113 buses to cushion the effects of the price increase.

el-Rufai’s six-man committee was set up early this year by the National Economic Council (NEC) headed by Vice President Yemi Osinbajo to look into the dwindling revenues of states and make recommendations to the council.

Apart from el-Rufai, Governors Godwin Obaseki of Edo State, Kayode Fayemi of Ekiti State; and David Umahi of Ebonyi State are also members of the committee.

The other members of the committee are the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari.

The four governors, who are members of the committee, presented its report to their colleagues, who endorsed it.

The report is subject to final approval by NEC, which will also meet today.

However, in a communiqué released after the meeting last night, the governors disclosed that el-Rufai gave a briefing on the appropriate pricing of petrol in Nigeria, where he called for full deregulation.

According to the communiqué, the Kaduna State governor further revealed that between N70 billion and N210 Billion is spent monthly to subsidize the petrol price at N162 per liter.

The committee identified Lagos, Oyo, Ogun, Rivers, and Abuja as the top consumers of petrol.

Presenting the report to his colleagues, el-Rufai reportedly said the increase in the price of petrol to N385 per liter would help stem the increasing smuggling of the product to neighbouring countries.

According to him, if petrol sells at N385 per liter, FAAC would gain between N1.3 trillion and N2. 2.3 trillion per annum.

The committee also recommended that the federal government should sell the three refineries after rehabilitation.

The report revealed that Nigeria lost billions of dollars due to the COVID-19 pandemic, adding that there is already a cash crunch in the states.

NNPC had said that it would remit zero allocation to FAAC due to the huge cost of subsidizing petrol.

Some of the governors at the meeting opposed the recommendations, insisting that they will create more hardship for Nigerians.

Contributing to the report, a South-west governor said that it would be very difficult to convince Nigerians and labour to accept the report.

But other governors insisted that the earlier there is full deregulation, the better for the country as it remains an evil day postponed.

The committee recommended that the federal government should buy and distribute over 113 buses to states and major cities as a palliative to the proposed increase in the price of petrol.

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NDLEA Seizes Lipsticks Stuffed With Drugs At Lagos Airport [VIDEO]

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Officials of the National Drug Law Enforcement Agency have uncovered another batch of female lipsticks containing illegal drugs at the Murtala Muhammed International Airport in Lagos.

Femi Babafemi, the agency’s Director of Media and Advocacy, revealed this in a post shared on his X (formerly Twitter) page on Sunday.

He also urged Nigerians, particularly women, to be extremely vigilant when purchasing or accepting beauty products, especially from unfamiliar sellers or dubious online platforms.

The statement read, Ladies beware! It does appear like female lipstick is becoming attractive as an instrument for concealment and trafficking now with yet another consignment of factory fitted female lipsticks stuffed with illicit substances intercepted at MMIA barely a week after @ndlea_nigeria officers uncovered a similar cargo at a courier company in Lagos.

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JUST IN: Former President Buhari Dies In London Clinic

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Former Nigerian leader, Muhammadu Buhari, passed away on Sunday.

His longtime media aide, Garba Shehu, confirmed the news in a brief statement issued on Sunday afternoon, stating that the former president died at a clinic in London.

Shehu’s message, distributed to the media, read:
“INNA LILLAHI WA INNA ILAIHIRRAJIUUN. The family of the former president has announced the passing on of the former president, Muhammadu Buhari, GCFR, this afternoon in a clinic in London. May Allah accept him in Aljannatul Firdaus, Amin.”

The statement concluded with the date: July 13, 2025.

Although the cause of death was not disclosed, Buhari, who held office from 2015 to 2023, had frequently sought medical care in the United Kingdom during and after his time as president.

Buhari, a retired Major General in the Nigerian Army, first led Nigeria as a military head of state from 1983 to 1985. Decades later, he was elected president through a democratic process. He made history as the first opposition candidate to unseat a sitting president in Nigeria.

Funeral plans have not yet been made public.

 

More to come…

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No Effective Governance Without Full Local Government Autonomy — Femi Gbajabiamila

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The Chief of Staff to President Bola Tinubu, Femi Gbajabiamila, has stated that governance at the local government level cannot be effective without complete autonomy.

He made the remark while addressing journalists after voting in the Lagos State local government elections in Surulere on Saturday.

When asked about the progress of implementing the LG autonomy ruling by the Supreme Court one year after it was delivered, Gbajabiamila described the process as ongoing and said it would be completed with time.

Gbajabiamila said, “The ruling was welcome by everybody. It’s the execution of that ruling and the implementation of that ruling that we are still trying to dot the Is and cross the Ts.

“I believe in a matter of time, we will realise full autonomy. There cannot be effective governance without full autonomy. That’s what we are working toward.”

In July 2024, the Supreme Court granted autonomy to all 774 local government areas across the country following a case filed by the federal government through the Minister of Justice and Attorney General of the Federation. However, the ruling is yet to be fully implemented.

Following the judgement, the Senate urged state and local governments to immediately adhere to the court’s directive, especially regarding local government accounts and direct fund disbursements.

The Senate also moved to amend relevant sections of the Constitution to ensure full local government autonomy nationwide.

The announcement was made by Deputy Senate President Senator Jibrin Barau, after lawmakers emerged from a closed-door session where they discussed alleged efforts by some state governments to bypass the Supreme Court’s ruling on July 11.

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