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Marketers Eye Petrol Price Reduction, Ready To Load As Port Harcourt Refinery Begins Operation April

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The Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria have projected a marginal reduction in the pump price of Premium Motor Spirit, popularly called petrol, produced from the Port Harcourt Refining Company once the plant begins operations next month.

IPMAN and MEMAN also declared their readiness to load products from the facility, as they urged the Nigerian National Petroleum Company Limited to fulfill its promise of pumping put refined products from the plant in two weeks.

It was reported last week that the Group Managing Director, of NNPCL, Mele Kyari, announced that the Port Harcourt refinery would commence operations in about two weeks.

Kyari, who appeared before the Senate Ad-hoc Committee investigating the various Turn Around Maintenance projects of refineries, revealed that mechanical works had been completed on the Port Harcourt, Warri, and Kaduna refineries, stressing that the Kaduna refinery would commence operations in December.

“We did a mechanical completion of the (Port Harcourt) refinery, that was what we said in December. We now have crude oil already stocked in the refinery. We are doing regulatory compliance tests that must happen in every refinery before you start it, and I assure you that this Port Harcourt refinery will start in the next two weeks.

“Completing the mechanical work means that you are done with the rehabilitation work, now you have to test to see how it works. Of course, we have also completed the mechanical work on the Warri refinery.

“It is also undergoing regulatory compliance; processes that we are doing with our regulator, and this will soon be completed and it will be ready. The Kaduna refinery will be ready by December. We have not reached that stage in Kaduna, but we promise Kaduna will be delivered by December,” Kyari had explained.

Reacting to this on Monday, the National President, of IPMAN, Abubakar Maigandi, told our correspondent that marketers had been informed of the development and were ready to start lifting products.

He also stated that once products start coming out from the plant, the cost of petrol would reduce, but stressed that this would be a marginal reduction.

“As independent petroleum marketers, immediately we received the information, we told all our members to start preparing for loading, especially those in the South-South region of the country, because it is closer to them.

“So at any time they (NNPCL) say we should come and start loading, we are ready. We are just waiting for them to start,” the IPMAN president stated.

He added, “Price reduction is obvious when they start releasing products, and there will be availability because it would serve as support to the imported products. So we are expecting a change in price, for no matter how small the reduction is, it is still a reduction.

“Also, the commencement of operations there will create more employment for Nigerians. So it is a welcome development and IPMAN is happy about this, especially if products start coming out from the plant in the next two weeks as promised by NNPCL.”

On his part, the Executive Secretary, MEMAN, Clement Isong, stated that major oil marketers had been buying products from the trading arm of NNPCL, adding that this arm of the national oil firm would be in charge of the products to come out from the Port Harcourt refinery.

He noted that though the facility would not be able to provide all the volumes of petrol required by the consumers, MEMAN would definitely load from the plant by buying refined products through the trading arm of NNPCL.

“Sure, we have been buying from the trading arm of NNPCL and we will continue once products from the refinery are being released. On price reduction, this is going to be marginal, because the product is being produced in Nigeria,” he stated.

Kyari had told the Senate that over 450, 000 barrels of oil had been stocked into the Port Harcourt refinery, which means the plant is ready to deliver refined crude to the market.

“All crude lines are active and have actually delivered over 450,000 barrels into Port Harcourt refinery.

“We are confident of the integrity of it. Yes, there may be security issues, but also the government is responding to the situation,” the NNPCL boss had stated.

The Federal Government had announced in December 2023 that the mechanical completion of Port Harcourt refinery had been completed, stating that products from the plant would get to the market before the end of last year.

This, however, did not happen, as Nigerians anxiously await the production of refined petroleum products from refineries in Nigeria. Currently, Nigeria imports its refined petroleum products through the NNPCL.

BIG STORY

JUST IN: Reps Reject Bill Seeking Single Six-Year Term, Zonal Rotation For President, Governors

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The House of Representatives on Thursday, November 21, rejected a proposed constitutional amendment aimed at instituting a single six-year term for the president, governors, and local government chairmen across the federation.

The bill, sponsored by Ikenga Ugochinyere (PDP, Imo) and 33 co-sponsors, also sought to divide the country into six geopolitical zones and establish a rotational system for the presidency and governorship within these zones.

Additionally, the bill proposed that all elections be conducted on a single day.

It aimed to amend Section 132 of the Constitution by inserting a new subsection (2), deleting the extant subsection (4), and renumbering the entire section accordingly. The proposed amendment would have stipulated that elections to the office of President of the Federal Republic of Nigeria be rotated between the North and South regions every six years.

The bill also sought to amend Section 180 of the Constitution, replacing “four years” with “six years.”

Furthermore, it proposed altering Section 76 by inserting a new subsection (3), which would read: “(3) For the purpose of Section (1) of this section, all elections into the offices of President, Governors, National Assembly, and State Houses of Assembly shall hold simultaneously on the same date to be determined by the Independent National Electoral Commission in consultation with the National Assembly and in accordance with the Electoral Act.”

When the bill, which was scheduled for a second reading, was put to a vote, the majority of lawmakers voted against it. This is not the first time the House has rejected a bill seeking a six-year single term for the president and governors.

In 2019, a similar bill, sponsored by John Dyegh from Benue State, also failed to progress to the second reading.

Dyegh’s bill had also proposed a six-year term for Members of the National Assembly and State Houses of Assembly. He argued that a six-year term would allow members of the National Assembly to gain more experience, as opposed to the current four-year term.

According to Dyegh, re-election for the president and governors costs three times more than the first election and is often marked by violence. He believes a single term of five years would help curb the irregularities associated with re-election.

Former Vice President Atiku Abubakar had also proposed a further amendment to the 1999 Constitution and the Electoral Act 2022, advocating for a six-year single term for the president for each of the six geopolitical zones.

He added that the law must mandate electronic voting and the collation of results, and require the Independent National Electoral Commission (INEC) to verify the credentials of candidates, among other reforms.

The governor of Anambra State, Prof. Chukwuma Soludo, also backed calls in June this year for a single term for elected politicians.

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BIG STORY

I Appointed Aides On Garden Egg, Yam, Pepper To Boost Food Production — Enugu LG Chairman

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Eric Odo, chairman of Igbo Etiti LGA in Enugu state, has defended the appointment of aides for yam, pepper, and garden egg.

On Tuesday, Odo announced the appointments of Ezeugwu Ogbonna as senior special assistant on agriculture (yam and pepper) and Nwodo Ugonna as special adviser on garden egg and pepper.

The appointments attracted criticism from many Nigerians, who viewed the positions as an anomaly.

In his defense on Wednesday, Odo explained that the appointments were designed to increase the production of these crops in large quantities, aiming to meet local demands and support export.

The chairman emphasized that the Igbo-Etiti area is particularly well-suited to cultivating these crops and holds a significant comparative advantage.

“Their appointments are to ensure that local farmers receive adequate attention, needed resources, support, and expertise to enhance production, improve market access, and increase income for farmers,” NAN quoted Odo as saying.

“In essence, the appointment, which is wrongly misunderstood by disgruntled individuals, bad losers, and opposition, reinforces my determination to create a thriving local economy based on the strengths and potentials of Igbo-Etiti’s agricultural landscape.”

Odo explained that the decision was part of a carefully considered plan aimed at boosting productivity, creating jobs, and improving the livelihoods of farmers within the LGA’s communities.

He called on the public to disregard any online or offline comments intended to discredit the appointments, asserting that the council is committed to massive food production and sustainable development.

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BIG STORY

JUST IN: Simon Ekpa, Four Others Arrested In Finland Over Terror-Related Activities

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Finnish-Nigerian separatist agitator, Simon Ekpa, and four other individuals have been arrested in Finland over terror-related activities.

A local report in Finland stated that Ekpa, the self-declared “Prime Minister of Biafra Republic Government In-Exile,” was remanded in custody by the district court of Päijät-Häme on suspicion of public incitement to commit a crime with terrorist intent.

In a Thursday statement published on its website, the Central Criminal Police in Finland said it had arrested five people on suspicion of terrorist crimes.

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 statement reads: “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 quoted the head of the investigation, Crime Commissioner Otto Hiltunen from the Central Crime Police, as saying that “the man has carried out this activity, among other things, on his social media channels.

“Four other persons are suspected of financing the aforementioned activity. All five suspects of the crime have been arrested during the beginning of the week.”

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

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