News
Again, Dangote slashes diesel, aviation fuel prices to N940, N980
Dangote Petroleum Refinery on Tuesday announced a further reduction in the prices of both diesel and aviation fuel to N940, and N980 per litre respectively.
This is coming in the wake of its widely celebrated price reduction to N1,000 barely two weeks ago.
The price change of N940 applies to customers buying five million litres and above from the refinery, while the price of N970 is for customers buying one million litres and above.
Speaking on the new development, the Head of Communication, Mr Anthony Chiejina, explained that the new price aligns with the company’s commitment to cushion the effect of economic hardship in Nigeria.
“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS Oil and Gas stations, to ensure that consumers get to buy fuel at affordable prices, in all their stations be it Lagos or Maiduguri. You can buy as low as 1 litre of diesel at N1,050 and aviation fuel at N980 at all major airports where MRS operates.”
He further stated that the partnership would be extended to other major oil marketers. “The essence of this is to ensure that retail buyers do not buy at exorbitant prices.
“The Dangote Group is committed to ensuring that Nigerians have better welfare and as such, we are happy to announce these new prices and hope that it would go a long way to cushion the effect of economic challenges in the country.
It would be recalled that the management of Dangote Petroleum Refinery announced a further reduction of the price of diesel from 1200 to 1,000 Naira per litre barely two weeks ago.
This marks the third major reduction in diesel price in less than three weeks when the product was sold at N1,700 to N1,200 and also a further reduction to N1,000 and now N940 for diesel and N980 for aviation fuel per litre.
President Bola Tinubu had also commended Dangote for the initial price reduction, describing it as an “enterprising feat.”
Reacting to the latest development, the Director General of the Manufacturers Association of Nigeria, Mr Ajayi Kadiri, said, “The decision of Dangote Refinery to first crash the price from about N1,750/litre to N1,200/litre, N1,000/litre and now N940 is an eloquent demonstration of the capacity of local industries to positively impact the fortunes of the national economy.”
He added “The trickledown effect of this singular intervention promises to change the dynamics in the energy cost equation of the country, amid inadequate and rising cost of electricity.
“The reduction will have far-reaching effects in critical sectors like industrial operations, transportation, logistics, and agriculture, contributing to easing the high inflation rate in the country; a lot of companies will be back in operation.”
News
Stop using repressive laws to intimidate journalists – SERAP, NGE tell FG
The Socio-Economic Rights and Accountability Project, SERAP, and Nigeria Guild of Editors, NGE, have called on Nigerian authorities at all levels of government to stop using repressive and anti-media laws to target, intimidate and harass journalists, critics and media houses.
The groups made the demand after an interactive session on ‘the state of press freedom in Nigeria’ held at the Radisson Blu Hotel in Ikeja.
In a joint statement, SERAP and NGE said that, “the government of President Bola Tinubu, the country’s 36 governors and FCT minister must now genuinely uphold press freedom, ensure access to information to all Nigerians, obey court judgments, and respect the rule of law”.
They expressed concerns about the escalating crackdown on the right to freedom of expression and media freedom and the flagrant disregard for the rule of law by authorities at all levels of government.
The groups note that the suppression of the press in recent times takes various forms ranging from extrajudicial to unlawful detentions, disappearances, malicious prosecutions and wrongful use of both legislation and law enforcement.
The statement read in part: “We would continue to speak truth to power and to hold authorities to account for their constitutional and international obligations including on freedom of expression and media freedom.
“Nigeria as a country has a long and unpleasant history of press gagging and clampdown on media freedom, which is evidence of extensive state censorship of media and in some cases, the utter control of state-owned media houses.
“This position has not changed considerably despite almost 25 years of unbroken democratic rule in the Fourth Republic.”
News
FG adds 625MW to national grid – Minister
News
Tax: Court orders FCT-IRS agency to seal off defaulting coys
A Magistrate Court sitting in Wuse Zone 2, Abuja, on Friday, ordered the Federal Capital Territory Internal Revenue Service (FCT-IRS) to seal off a company, Ifedi A.K. Nigeria Ltd, over allegations bordering on non-filing of annual returns.
The Magistrate, Janada Balami, gave the order after lawyer to FCT-IRS, Michael Towolawi, moved the application to the effect.
Towolawi told the court that the company had failed to file its annual returns from 2019 to 2023 in breach of Section 81 of the Personal Income Tax Act, LFN, 2004, and amended in 2011.
He said all efforts to make the company comply with the law proved abortive.
The lawyer, therefore, applied that the company be compel to appear before the court to explain why it acted in breach of the law.
Balami, who held that the application by the agency against the company had merit, accordingly granted same to seal the No 6, Rudolph Close, Off Katsina-Ala Street, Maitama, Abuja.
She, consequently, ordered the company, the sole defendant in the matter, to appear before the court on May 16.
The Director, Legal Services of the FCT-IRS, Festus Tsavar, told journalists after the proceeding that the service would move against companies that do not file their annual returns as provided by law.
“You know that we have a new minister in FCT that is doing a lot of projects and that hinges on money.
“And of course, you are aware that FCT has come out of TSA.
“So it is the internally generated revenue that will make the government of FCT to be able to do those projects completely within required time,” he said.
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