News

Fuel Price May Fall As Petrol Vessels Berth At Port

Published

3 weeks ago

November 19, 2023

Editor

The pump price of Premium Motor Spirit, popularly called petrol, may be reduced in filling stations operated by independent marketers this week, following the massive imports of PMS by the Nigerian National Petroleum Company Limited, oil dealers stated on Saturday.

It was gathered that the recent hike in petrol prices at retail outlets operated by independent marketers was due to the short supply of the commodity, which led to acts of profiteering by both depot owners and filling stations.

But operators in the downstream oil sector confirmed to The PUNCH on Saturday night that several cargoes imported by NNPCL had arrived in Nigeria, as some of them were currently discharging at the ports.

“Once the products start hitting filling stations, fuel price will reduce, because the recent high cost was due to supply drop,” the National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, The PUNCH.

On Thursday, oil marketers blamed the emergence of queues for petrol at filling stations in Abuja and neighbouring Nasarawa and Niger states on the low supply of PMS by its sole importer – NNPCL.

However, the national oil company refuted the position of marketers, as it argued that the queues in the affected areas were due to a “price war.”

But going by the latest development concerning the imports by NNPCL, operators in the sector stated that the queues would not only disappear but there would be a reduction in price at independent filling stations.

Currently, petrol is mostly sold at between N580 and N613/litre at filling stations operated by NNPCL. Most other marketers dispense the commodity at higher rates, with some selling PMS for as high as N670/litre.

“The most important thing now is that cargoes carrying PMS ordered by NNPCL have arrived, some of them have berthed and they are discharging. So the partial scarcity we are experiencing now will be gone,” Ukadike said.

He noted that the inflow of foreign exchange during the Yuletide would not necessarily impact petrol prices, rather the increased imports by NNPCL should warrant a reduction in price.

He said the large PMS imports were confirmed to marketers by NNPCL.

On whether marketers had started receiving the products, Ukadike replied, “By Monday we will start receiving from Port Harcourt and Warri, based on my last discussion with the NNPC management.”

Another major marketer also confirmed the position of IPMAN, as he stated that “when you wet the market with products, there’ll be no room for profiteering.”

Earlier, the Chief Corporate Communications Officer, NNPCL, Olufemi Soneye, stated that the position of oil marketers as regards the re-emergence of fuel queues was not true, as he insisted that the oil firm had enough products.

“That is not true. The recent tightness in Abuja is essentially a price war which is typical of any competitive market. Motorists would rather queue at filling stations that offer lower prices than others.

“While NNPC retail is selling at N613/litre in Abuja, other marketers’ prices range from N625-N650/litre,” Soneye said.

News

Canada Hikes Proof Of Funds For Nigerians, Others By 100%

Published

26 mins ago

December 8, 2023

Editor

The Canadian Government has raised its “cost-of-living financial requirement for study permit applicants,” basically for international students, to $20,000 from $10,000 starting from January 1, 2024.

This was made known by the country’s Minister of Immigration, Refugees and Citizenship, Marc Miller, in a statement on Thursday.

According to him, from 2024, a single applicant will need to show they have $20,635, representing 75% of LICO, in addition to their first year of tuition and travel costs, adding, “This change will apply to new study permit applications received on or after January 1, 2024.”

“Starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.

“For close to two decades, study permit applicants for international students have remained at $10,000. This review, which takes effect from January 1, ‘will help prevent student vulnerability and exploitation,’” the statement added.

This development is coming a few days after the United Kingdom introduced a new set of rules that would make it more difficult for Nigerians and other applicants to obtain a visa.

Home Secretary James Cleverly announced the changes in the House of Commons on Monday.

News

Tinubu’s Presidency Can’t Stop Struggle For Yoruba Nation – Sunday Igboho

Published

31 mins ago

December 8, 2023

Editor

Yoruba Nation agitator, Chief Sunday Adeyemo, popularly known as Sunday Igboho, has reaffirmed his movement’s committment to achieving an independent Yoruba nation despite the emergence of a Yoruba president.

Igboho made his position known in an interview with The PUNCH.

When asked about shelving the sovereignty effort after President Bola Tinubu, a Yoruba man, took office, Igboho said his Ilana Omo Oodua group began agitating long before Tinubu’s election.

“We haven’t dropped the agitation for the Yoruba nation despite the emergence of President Bola Tinubu. We have been on this agitation long even before Tinubu clinched the presidential ticket of his political party, the All Progressives Congress.

“Our agitation is not predicated on the election of a Yoruba man as the President of the country. Tinubu is a Yoruba man and his becoming the President can’t stop us from the struggle for the realisation of the Yoruba nation,” he said.

While less visible recently, Igboho said his group is still actively furthering the cause, adding that the United Nations receives periodic updates on progress being made.

“You may think that you haven’t heard from us or seen much of us recently, we are still on the project and the United Nations is aware of our activities. We have submitted correspondence and letters keeping the world body abreast of our progression in the struggle for Yoruba,” he noted.

He also dismissed critics questioning his leadership or impact under the new Tinubu administration.

Igboho responded to accusations that he lacked the standing to spearhead the self-determination struggle.

“Nobody is exclusively vested with the power in this struggle. We have leaders like Prof. Akintoye, but my critics cannot determine the requirements for leading this peaceful, legitimate campaign,” he declared.

News

Cops Filmed Demanding Money From Foreign Biker Arrested – Police

Published

37 mins ago

December 8, 2023

Editor

The Oyo State Police Command said it has apprehended the policemen sighted in a now-viral video demanding money from a female biker who was on a tour of Nigeria from the Netherlands.

The command, in a post on X on Thurday, said the operatives will face disciplinary actions.

“Viral video portraying the regrettable misconduct of certain policemen along Moniya-Iseyin Road has been accessed. All those involved have been apprehended for immediate disciplinary actions. Supervision will be increased. Please report any misconduct to Xsquad on +2348023535470,” the post read.

In the video, the officers had flagged down the biker, asking her where she was from and where she was heading.

Police arraign 25-year-old farmer who allegedly killed, buried mother
The Dutch replied that she was from the Netherlands and she was on her way to Abuja, apparently surprising the two officers.

Interacting with the biker further in pidgin, the officers said: “Wetin you bring come? Wetin you won give me. O yah give me something nah.”

The tourist appeared not to comprehend the officers’ message until they clearly said, “Give me money, money,” to which she asked, “Why?”

The 1:26-minute video drew reactions from Nigerians who felt embarrassed by the policemen’s actions.