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Jet Fuel, Cooking Gas Prices Crash, Amidst Subsidy Removal



The price of aviation fuel known as Jet A1 has been on a downward slide as soon as the fuel subsidy was removed which jacked up the price of premium motor spirit (pms) otherwise known as Petroleum.

It was gathered that from over N800, aviation fuel crashed to N650 in Lagos and N680 in Abuja from June 1st while slightly higher in Kano and Maiduguri and Port Harcourt.

Checks yesterday showed that Jet A1 fuel was sold at N620 in Lagos; N660 in Abuja and N680 in Kano.

“The price is crashing and I think we can’t explain the trend but I want to believe it is the forces of demand and supply that are at play.

“This has been the development since last week when fuel subsidy was removed from Jet A1. It appears this is a spontaneous reaction to developments in the oil and gas market,” said an operator.

It was gathered that the price of Jet A1 skyrocketed beyond what the operators expected, hitting almost N1,000 per litre last year.

One of the operators said the reduction in price of Jet A1 is a respite to airlines.

This is the situation with cooking gas with 12.5 kg crashing from about N14,000 to N6,950 in Lagos and about N8,000 in other states as at yesterday.

Checks at different locations yesterday indicated that the cooking gas sells at about N700 to N800 per kg as against over N1,000 a few weeks ago.

Energy Expert, Olusesan Okunade in a chat with our correspondent said there was no correlation with the crash in prices of cooking gas and jet fuel, adding it is just the forces of demand and supply.

He said, “I think it is just the forces of demand and supply that are working on the gas which we talked about in terms of liberalisation. I am sure because there is no fund in circulation, people are not buying so much. So there is supply, rather than wasting the resources, you will rather dispose at a very minimal margin. There is no gimmick for what is happening. I learned as of today (yesterday), it is about N6,950. It has no correlation with fuel subsidy.

“To the best of my knowledge, I have not heard anything being responsible for this. People just want to dispose of those things, and sell at a minimal margin as against when we were buying it N12,000; N13,000.

“For Jet A1, the demand is on the high side, people are still traveling. It is a specialized fuel for airlines. I have not heard anything special that they have done but I don’t think it is in correlation with removal of fuel subsidy.”

Also speaking, an economic analyst, Mr. Babatunde Adeniji said the supply may be more than demand with Jet A1 as well.

He added, “Sometimes the situation when these products are ordered is different from when they arrive. So many may receive the stock at the same time.”


Credit: Daily Trust


Italian Bags 24 Years Jail Term For Beating Physically Challenged Nigerian To Death



Filippo Ferlazzo, the Italian who beat Italy-based Nigerian man Alika Ogorchukwu to death in July 2022, has been sentenced to 24 years in prison.

The 39-year-old Nigerian who was beaten to death in the Italian city of Civitanova Marche in the Marche Region in the Province of Macerata has finally received justice.

Abike Dabiri-Erewa, Chairman of the Nigerians in Diaspora Commission (NIDCOM), made the announcement in a statement signed by NIDCOM spokesperson Gabriel Odu on Thursday.

Dabiri-Erewa who expressed satisfaction over the justice meted out to Ferlazzo commended the Nigerian Mission in Rome for following through with the case and other cases involving Nigerians.

“I am glad that this case finally got justice. Like I always say, there has to be consequences for actions”.

The NIDCOM boss also urged Nigerians in the diaspora to remain law-abiding, excel in what they do, and never forget home by giving back to their homeland.

She also exhorted Nigerians living abroad to uphold the law, be the best at what they do, and never forget their roots by supporting their home country.

According to the Italian police, Ogorchukwu was assaulted while strolling in broad daylight, after the Nigerian asked Ferlazzo’s fiancée to buy him a handkerchief.

With the use of Ogorchukwu’s crutches, the attacker battered the victim to death in front of multiple witnesses, some of whom made videos on their smartphones.

On July 30, 2022, Ferlazzo was detained and arrested on charges of having murdered Ogorchukwu and having stolen Ogorchukwu’s phone.

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Lagos Government Implements Total Ban On Street Trading, Hawking To Improve Safety And Sanitation



In a bid to create a cleaner, safer, and healthier environment, the Lagos State government, under the auspices of the Ministry of Environment and Water Resources, has implemented a comprehensive ban on street trading, hawking, and related illegal activities.

This landmark decision aims to address the rising concerns over public safety, traffic congestion, and the preservation of vital infrastructure.

Led by the dynamic Commissioner for Environment, Mr. Tokunbo Wahab, the state government has assigned the Lagos State Environmental Sanitation Corps (commonly known as KAI) with the responsibility of ensuring strict compliance with the newly enforced environmental sanitation laws.

One of the primary reasons driving this ban is the need to curb the nefarious activities of hawkers who have increasingly resorted to disguising themselves as vendors while preying on unsuspecting motorists. These incidents of theft and robbery have not only threatened the safety of commuters but have also contributed to the disruption of traffic flow on major highways and streets.

Governor Babajide Sanwo-Olu’s administration, with its T.H.E.M.E Plus Agenda, is exhibiting a zero-tolerance approach towards street trading, hawking, and other illicit practices. By intensifying efforts to enforce these regulations, the government aims to foster a more conducive and orderly business environment while addressing the concerns of the general public.

The ban extends to the construction of illegal structures on drainage systems, as they pose significant risks to the local water management infrastructure. Additionally, the prohibition encompasses the display of wares on walkways, a practice that not only obstructs pedestrian movement but also contributes to unsightly and cluttered public spaces.

Citizens and traders are urged to cooperate fully with the Lagos State Environmental Sanitation Corps, adhering to the newly implemented regulations in order to promote a more organized and hygienic society. The government’s commitment to ensuring the health and safety of its residents remains resolute, and these measures signify a significant step towards achieving that goal.

As the Lagos State government takes proactive steps towards creating a cleaner, safer, and more sustainable urban environment, the hope is that this ban will not only elevate the quality of life for all residents but also serve as a model for other regions to follow suit.

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Marketers Urge Federal Government To Address Rising Gas Prices



The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has urged the Federal Government to develop measures to keep gas prices stable and make it available to ordinary Nigerians.

The NALPGAM National President, Abideen Olatunbosun, made this plea during the association’s 36th annual general meeting/conference on Tuesday in Ibadan, Oyo State, with the theme “Expanding gas utilisation beyond imagination.”

He added that if nothing was done to stop the price growth, petrol will soon become a commodity for the few wealthy.

Olatunbosun said, “It is very vital for me to say that the galloping hike in the price of gas in recent times stands as a big challenge to LPG marketers. The government need to find ways to ensure the stability of gas price as well as make gas available to the common Nigerians. If nothing is done to the increase in price, gas will soon be a commodity for the few rich in our society.”

“As a country, we need to improve on our gas utilisation level. If we adopt gas, it will save our forest, improve quality of our lifestyle and the economy will grow. The hike in price of gas is a concern to all.”

In his lecture, the Guest Speaker, Prof Sunday Isehunwa of the Department of Petroluem Engineering, Faculty of Technology, University of Ibadan, identified changes in demand, changes in supply, natural gas production and consumption, changes in price and electricity pricing as some challenges facing LPG market in the country.

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