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NNPC Spends N1bn Daily As Petrol Subsidy Hits N19.37/Litre

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Reports from the Petroleum Products Pricing Regulatory Agency on Tuesday shows that the Nigerian National Petroleum Corporation has been subsidising the cost of Premium Motor Spirit (PMS), popularly known as Petro, consumed across the country by N19.37 per litre.

On several occasions the NNPC had disclosed that Nigeria consumes between 55 million to 60 million litres of PMS daily.

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Further findings from the PPPRA showed that the landing cost of petrol as of November 18, 2019 was N144.7/litre, while the distribution margin was put at N19.37/litre.

For instance , in its July 2019 financial and operations report, NNPC said a total of 55.74 million litres of petrol was consumed across the country on a daily basis.

Going by a daily consumption of 55 million litres and the N19.37 subsidy which the corporation currently incurs on every litre of PMS consumed in Nigeria, the national oil firm is spending about N1.1bn daily on subsidy.

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A summation of the landing cost and the distribution margin gives the total and actual cost of the commodity, which was put at N164.07/litre.

The commodity is, however, sold at a regulated price of N145/litres at filling stations across the country.

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JUST IN: OPEC Secretary-General, Barkindo, Is Dead

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The Secretary-General of the Organisation of Petroleum Exporting Countries, Muhammad Barkindo, is dead.

Barkindo died late Tuesday.

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The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, announced Barkindo’s death in a tweeted posted to his verified Twitter handle, @MKKyari, in the early hours of Wednesday.

“We lost our esteemed Dr Muhammad Sanusi Barkindo. He died at about 11pm yesterday 5th July 2022. Certainly a great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global energy community. Burial arrangements will be announced shortly,” Kyari tweeted.

The President, Major General Muhammadu Buhari (retd.), had, on Tuesday, honoured Barkindo, describing him as a worthy ambassador of the country, at the State House, Abuja.

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READ ALSO: Again, OPEC Increases Nigeria’s Crude Oil Production Quota To 1.8mbpd

Reacting to Barkindo’s death, a former lawmaker in the eighth Assembly, Senator Shehu Sani, tweeted to his Twitter page, “Muhammad Sanusi Barkindo, former GMD NNPC and until recently, @OPECSecretariat scribe, was honoured yesterday. He died 11pm yesternight. May Allah grant him Aljanna firdausi. Amin. That is the ephemerality and transience of life.”

Details later…

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‘Go Spiritual,’ Army Chief Tasks Troops To Complement Kinetic Efforts

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The Chief of Army Staff, Lieutenant General Farouk Yahaya, has asked troops to complement the Nigerian Army’s kinetic engagements with spiritual efforts.

He advised them to seek counselling, guidance, and divine supplications in ongoing military operations across the nation.

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The Director of Army Public Relations, Brigadier General Onyema Nwachukwu, disclosed this in a statement on Sunday.

Yahaya gave the charge during an interdenominational church service to commemorate the Nigerian Army Day Celebration (NADCEL) 2022, held at Saint Mark Military Church (Protestant), 34 Brigade Obinze Barracks in Owerri, the Imo State capital.

The army chief who was represented by Major General Victor Ezugwu, according to Nwachukwu, noted that the theme of the interdenominational service “Promoting National Unity through Religious Tolerance and Peaceful Coexistence” was apt.

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He urged the Christian faithful across the nation to continually promote peace and unity in complementing the efforts of the army to surmount contemporary security challenges bedevilling the nation.

Yahaya also appealed to all to desist from the use of misinformation, deceit, and issues capable of disintegrating the nation, stressing the unity in Nigeria’s unique diversity.

READ ALSO: Troops Recover Arms, Arrest Foreign Terrorist Informant

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The interdenominational service was held in all formations and units of the army across the nation.

The church service had in attendance representatives of the President, Nigerian Army Officers’ Wives Association (NAOWA), principal staff officers from Defence and Army Headquarters, corps commanders, general officers commanding, commandants of Nigerian Army training institutions, soldiers, and their families.

 

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Man Docked For Alleged Intimidation, Falsehood Against High Court Judge

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A Minna, Niger State-based land speculator, Ibrahim Tukura, has been remanded in correctional custody till July, 7 on the orders of a Chief Magistrate, Hauwa Kulu Isah over alleged intimidation and injurious falsehood against a High court judge, Justice Bilkisu Yusuf Gambo in the state.

Tukura had allegedly filed a case before the Niger State Acting Chief Judge, Justice Halima Ibrahim Abdulmalik, and requested that his case over a parcel of land presided by Justice Gambo of High Court No 6 be transferred from her court.

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The defendant claimed that the disputed parcel of land of which, he is claiming ownership with suit No: NSHC/MN/173/2021 was pending in High court No. 6 presided by Justice Gambo.

He alleged that the plaintiff in the disputed land, Malam Isah Nagoji, had given the said land to the presiding judge handling the case, hence his petition to the acting chief judge, demanding that the case be transferred from her court.

Justice Bilkisu Yusuf Gambo in her reaction filed a Direct Criminal Complaint against the defendant to the Chief Magistrate Court No., Hauwa Kulu Isah, requesting a police investigation into the allegations levelled against her by the defendant.

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Chief Magistrate, Hauwa Kulu Isah, forwarded the complaint to the State Criminal Investigation and Intelligent Department (SCIID), for discreet investigation and afterwards, arraigned the defendant in court for prosecution.

READ ALSO: US Court Fixes Date For Sentencing Cyber Fraudster, Hushpuppi

The defendant was consequently, booked on a four-count charge of injurious falsehood, use of abusive or insulting language, criminal intimidation as well as inciting disturbance.

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According to the head of the prosecution unit of the SCIID, Abdullahi Mayaki ASP, the charges contravened sections 393, 399, 397 (b), and 114 of the penal code.

However, when the presiding Chief Magistrate, Hauwa Kulu Isah read the charges to the defendant, he pleaded not guilty to the charges and was ordered to be remanded in Correctional custody.

Magistrate Isah then adjourned the case to July, 7 for further mention

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