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Indiscriminate profit: It is natural for marketers to hike prices — NNPCL GCEO
…Says Nigerians can expect to pay less
…No provision for subsidy in 2023 budget, NNPCL clarifies
By Ibiyemi Mathew
The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kolo Kyari has stated that it is natural for pump prices to soar and for consumers to bear the burden when subsidy is removed.
Kyari said this in response to a question he was asked regarding the legality of marketers increasing the price of Premium Motor Spirit (PMS) popularly referred to as petrol that they already had in stock before the declaration by President Tinubu on Monday in an interview monitored by Nigerian NewsDirect on Channels TV.
“I think it is natural because it does happen. It may not be intentional but it happens under every circumstance.
“When you have the cheap price at hand and you now sell it 2 to 3 times the price you purchase, you will have to go back to the market. So when you go back to the market to procure new supply, you are going to buy at the new price which literally will make your gain clearly marginal because for you to continuing that business you have to add money to buy in the next market. It is not really substantial except those who decide they are done with.
“Unfortunately, yes the customers have to bear the burden,” he said.
Speaking further, Kyari said the removal of subsidy will only affect the sale of petrol for now.
“The impact of the current policy is only on Petrol. It won’t affect other products.
“All other products are actually deregulated, aviation fuels and every other petroleum products are actually deregulated,” Kyari noted.
When questioned on the possibility of prices going higher than they are now, Kyari responded that, “it is very unlikely but potentially Nigerians can expect to pay lower prices.
“Petroleum is priced in the international market and we have no control over the price of this commodity in the international market.
“What this situation has brought is potentially some form of efficiency to come into the system. What you don’t have control over is the price of this commodity in the international market. Whereas many things you have control over. The ability to get it at the cheapest possible rate and that’s a factor of many things, your ability to negotiate good contracts for your marine activities, depot activities, all the way to the fuel station with companies to compete in that space,” he concluded.
Similarly, the GCEO also noted that there is no provision for funding of subsidy in the 2023 budget.
Kyari clarified this when he met with the All Progressive Congress (APC) National Working Committee (NWC) at the party’s National Secretariat.
According to him, “There was a subsidy in 2022 but in 2023, not a single naira was provided for the purpose of financing the subsidy.
“And ultimately while we held back our fiscal obligations, we still have a net balance of over N2.8 trillion that the federation should have given back to the NNPC.
“For any company, when you have negative N2.8 trillion, there is no company in the whole of Africa that will lend to you, you cannot have receivables.
“The provision of subsidy is there, but absolutely there is no funding for it,” Kyari said.
He added that subsidy constituted a huge amount of money which the country might not be able to survive and pay its debts.
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Daura meeting: Mixed reactions trail Atiku, El-Rufai, Ali Modu Sheriff’s visit to Buhari’s residence
…Visit, an attempt to build northern alliance, unseat Tinubu in 2027 — Shehu Sani
…Nigerians must shine their eyes, reject regrouping of criminals, those who caused us pain — Ex-CAN boss, Hayab
…Meeting unfortunate if it has any connection with 2027 — Activist Abdul Bako
By Austine Emmanuel, Kaduna
Mixed reactions have continued to trail the visit of Northern politicians to Former President, Muhammadu Buhari at his Daura residence in Katsina state.
President Buhari received the presidential candidate of Peoples Democratic Party, (PDP) Alh. Atiku Abubakar, accompanied by the former Governor of Sokoto state, Alh. Aminu Tambuwal, former National Secretary of the PDP, Ibrahim Tsauri, party stakeholders and his supporters on Saturday.
Also, the immediate past Governor of Kaduna State, Mal. Nasir El-Rufai and former Borno State Governor, Senator Ali Modu Sheriff visited Buhari on Sunday and Monday respectively in Daura.
The visit according to the politicians was a Sallah homage and to congratulate the statesman for successful celebration of the 2024 Eid-el-Kabir festivity, a meeting that observers said has connection with synergy for the 2027 general elections.
Reacting to the development amongst many Nigerians, the Senator who represented Kaduna Central in the 8th Assembly, Senator Shehu Sani alleged that Northern politicians are trying to build a strong alliance using Buhari as a rallying point to challenge and evict President Bola Ahmed Tinubu in 2027.
Sani said that the recent visit only appears to be the usual Eid homage, meanwhile it is a platform to resurrect Buhari’s political charm, fanaticism, stock up and light up the Arewa sentiment and thereafter mobilise the gullible to another hollow without considering the inferno it would eventually generate.
The Lawmaker who condemned Northern politicians on what he tagged ‘obsession to power’ accused the Buhari’s administration of gross incompetence, stressing that the former president, though a Northerner left the region worse than he met it, adding that poverty and insecurity was at its peak than anytime in Nigeria’s history while he was in power.
“The recent visits by some prominent Northern politicians to Daura appears to be the Usual Eid homage. But looking deeper and beyond the facade, it’s surreptitiously a new attempt to build a strong northern alliance using ex President Buhari as a rallying point to challenge and evict President Tinubu’s Government in 2027. It is a regrouping of Northern political forces for the next general election. A project that will eventually kiss the dust.
“They want to resurrect Buhari’s political charm, fanaticism and mobilise the gullible to another hollow and bewildering end. They want to stock up and light up the Arewa sentiment without considering the inferno it would eventually generate. Thesame Buhari that led Nigeria for eight years and left the North worse than he met it.
“It’s too early to forget. By the time he left power, poverty and insecurity was at its peak than at anytime in Nigeria’s history. They had power and wasted it; what do they want to do with it again?
“A Southerner is in power just for one year. It’s too early for the desperate and power hungry northern elite to start plotting. The south never did that to Buhari. Their intended action has the capacity of ruining the democratic process and wrecking the fragile unity of the country when the south is awakened to this reality.
“Their obsession with power is condemnable.Opposition to Tinubu from the point of policies, promises and programs of his administration is a democratic right of any Nigerian. People have the right to speak and criticise the Government.
“But attempts to whip up Northern sentiments to achieve their political ends is a dangerous political experiment and expedition at this material time. No serious southerner challenged Buhari for eight years; these power drunk Northern politicians are dragging the region to a new political journey through a land mine.
“Buhari’s reign ensured nepotistical placement, installation and dominance of Northerners at strategic positions of authority and power for eight years. Results had shown that they only enriched themselves, pillaged the economy of the country and pauperized our country.
“The Daura homage of the disgruntled and the obsessed will fail. Our people in the North should reject these faces and their plots.They have nothing to offer. From the abandoned Baro Port, Ajaokuta, Lake Chad basin refiling and Mambilla hydro power, they failed. They came to power when the North was in the hands of terrorists and left it in the joint hands of terrorists and Bandits. The Northern Talakawa should reject their antics,” Shehu Sani said.
Speaking with our Kaduna Correspondent on Monday in Kaduna, the immediate past chairman of the Christian Association of Nigeria, (CAN) Kaduna state Chapter, Rev. Dr. John Joseph Hayab opined that there is nothing wrong with paying Sallah homage, meanwhile he stated that everything is wrong if it has a political undertone.
Hayab who also doubles as the Country Director for Global Peace Foundation Nigeria, (GPFN) likened politicians as friends in the time of interest who only try to confuse Nigerians as though they are enemies when they do not have anything in common to share.
The cleric who urged Nigerians to shine their eyes against regrouping criminals and those who had caused the nation pains, explained that Nigeria belongs to everybody and not a few who always want to hold her to ransom.
He said, “People who have caused us pain always gang up when it comes to politics. The same gang of criminals who have no interest in the Nation at heart. They only disagree when they are looking for what they want to get for themselves.
“As a nation, we must try to shine our eyes and differentiate between those who love us and those who do not love us. They do not even love Buhari but they want to ride on his name for their selfish interest.
“It is not wrong to pay Sallah visit but wrong when there is a political undertone. Nigerians have suffered in the hands of few people who gang up when they want something to share. We must not give them the opportunity again,” Hayab added.
Meanwhile, the National President, Campaign for Democracy, a Rights Activist and Social Crusader, Comrade Abdul Bako Usman stated that if the meeting is for the actualisation of 2027 then the gesture is rather unfortunate.
Speaking with our Kaduna Correspondent via phone conversation, Abdul reiterated that North has been in jeopardy for years without the politicians meeting with the likes of Former Heads of state: Abdulsalami Abubakar, Ibrahim Babangida among other Northern elites for synergy to proffer lasting solution to the issues of insecurity and multidimensional poverty bedevilling the region for decades.
Bako said, “It is very important for leaders to meet and strategise on ways to move their region forward, but if it at all the meeting has anything to do with 2027 then it is very unfortunate.
“Because it will be good if that alliance has to do with tackling insecurity, multidimensional poverty in the north. But if they are coming together in working with synergy to the actualisation of 2027 or for political reasons then it’s quite unfortunate because the north has been in jeopardy for long but none of them have gone to meet former presidents like, Ibrahim Babangida and Abdulsalami Abubakar.
“So, going to see Buhari if it’s for political reasons then it’s rather unfortunate.”
It is important to note that northern elites over time accused President Bola Ahmed Tinubu of marginalisation, saying that they will prioritise someone who is seen as more inclusive, less controversial, and more aligned with the interests of all regions of the country.
One of those critics are the Northern Elders Forum, (NEF) who said that they regretted voting for president Tinubu’s emergence in the 2023 general elections and will not support his reelection in 2027.
Governor Dapo Abiodun of Ogun State has been unanimously elected as the new Chairman of the Southern Governors’ Forum, following a meeting of the 16 governors in Abeokuta, Ogun State.
The position became vacant after the passing of former Ondo State Governor, Rotimi Akeredolu, in 2023.
Lagos State Governor, Babajide Sanwo-Olu, announced the decision, citing the forum’s confidence in Abiodun’s leadership abilities. Abiodun expressed gratitude for the opportunity, promising to lead with inclusiveness and efficiency.
He also pledged to work closely with his Vice, Anambra State Governor, Professor Charles Soludo, to address regional interests and drive development in the southern region.
The emergence of Abiodun as Chairman marks a new chapter for the Southern Governors’ Forum, as the region seeks to tackle pressing issues and promote collective growth.
According to him, “This is indeed a significant honour bestowed on me by my esteemed colleagues, and I deeply appreciate their confidence in my leadership. Together, we will strive to ensure quality governance across our states and collectively engender exceptional regional development throughout Southern Nigeria.
“I also extend my congratulations to my colleague, Governor Charles Soludo of Anambra State, who has been elected as the Vice Chairman.”
Among those present were Dapo Abiodun of Ogun State, Godwin Obaseki of Edo State, Seyi Makinde of Oyo State, Alex Otti of Abia State, Babajide Sanwo-Olu of Lagos State, Ademola Adeleke of Osun State, Francis Nwifuru of Ebonyi State, Peter Mbah of Enugu State, Douye Diri of Bayelsa State, and Umo Eno of Akwa Ibom State.
Also in attendance were Biodun Oyebanji of Ekiti State, Bassey Otu of Cross River State, Charles Soludo of Anambra State, the deputy governor of Imo State, Chinyere Ekomaru of Delta State, Monday Onyeme, and the deputy governor of Ondo State, Olayide Adelami.
The meeting was convened to discuss crucial matters affecting their respective states and the nation at large.
By Omobolaji Adekunle, Abeokuta
The Ogun State Government has confirmed 25 suspected cases of cholera, with one death, across seven local government areas.
Commissioner for Health, Dr. Tomi Coker, stated this at a press conference in Abeokuta the state capital urging the public to report suspected cases to the Ministry.
The affected LGAs are Ado Odo/Ota, Remo North, Odeda, Sagamu, Ijebu North, Ewekoro, and Obafemi Owode. Nine cases have been confirmed, with one death recorded.
The State Community Health unit is on red alert, and the Ministry is coordinating the outbreak response with other stakeholders.
Treatment for Cholera is free in all public health facilities, and rapid response teams are prepared to respond to calls on short notice.
The Commissioner advised the public to be vigilant, especially in border areas with Lagos State, the epicentre of the cholera outbreak.
The Environment Commissioner, Mr. Ola Oresanya, announced that the State government has constructed over 60 public toilets and improved waste management collection.
The Education Commissioner, represented by Mr. Oluwole Majekodunmi, urged school administrators to ensure hygienic food and proper handwashing practices.
Contact lines for suspected cases: 08038642812, 07034214893, and 08084250881.
Court adjourns Emefiele’s trial till October 21
Cholera outbreak: Tinubu constitutes presidential c’ttee to oversee emergency operations
