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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.

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.

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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Pastor Adeboye Reveals How God Will Call Him To Glory

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The General overseer of the Redeemed Christian Church of God, Pastor E. A Adeboye has said if rapture fails to take place soon, he would die on a Sunday after eating pounded yam.

The Man of God, who made the assertion at the ongoing Holy Ghost Congress of the church in Ogun State, said he would die the way one of his uncles died after church service.

Recounting how the uncle died, Adeboye said he was in the house after dancing during a church service and gave up the ghost without being sick.

He said the uncle died inside a toilet while the wife was preparing his meal.

READ ALSO: How Pastor Adeboye Anointed Me, Prophesied I’ll be Osun Governor – Adeleke

“After she finished pounding the yam, she knocked at the door of the toilet, when they opened the door, my uncle was gone; no sickness, no ache, no pain.

“I know somebody will say if we are never sick, how are we going to die and go to heaven? You don’t need to be sick to go to heaven”.

“If the Lord tarries His coming, I will go on a Sunday after a good meal of pounded yam,” he said.

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Company To Pay Nigeria £20m In Compensation Over Judgement Debt Suit

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A Court in the United Kingdom has ordered Process & Industrial Developments (P&ID) Limited to pay Nigeria £20 million in damages and compensation following its victory in a $11 billion judgment debt heard in October, 2023.

The court ordered that the money be given to Nigeria within the next 28 days.

The award of £20 million in damages was revealed during a subsequent ruling on the subject in London to determine what happened after the October ruling.

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Reports said the hearing was also held to determine whether P&ID would be granted permission to appeal the decision, however, the court denied P&ID’s request to remand the case to arbitration.

It contended that the company’s conduct during the process was heinous, thus the judgment.

Nigeria had sued P&ID for at least £20 million in damages and legal fees but obtained significant relief in October when the UK court released it from entanglement in the $11 billion judgment debt previously issued in favour of P&ID Limited.

READ ALSO: Lawyer Faults Ondo Commissioner’s Claim Of Forgery Of Akeredolu’s Signature

In the lawsuit between the Federal Government of Nigeria and P&ID, Justice Robin Knowles of the Commercial Courts of England and Wales affirmed Nigeria’s claim that the gas processing contract was obtained by fraud.

In the judgment delivered after five years of legal battle, Judge Knowles said: “In the circumstances and the reasons I have sought to describe and explain, Nigeria succeeds on its challenge under section 68. I have not accepted all of Nigeria’s allegations. But the awards were obtained by fraud and the way they were procured was contrary to public policy.”

Recall that P&ID was contracted by Nigeria in 2010 to build a gas processing plant in Calabar, Cross River State, in the country’s south but the deal fell through because the Nigerian government did not keep its half of the bargain.

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Shiloh: What Will Happen If Abioye Leaves Living Faith – Bishop Oyedepo Reveals

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The founder of Living Faith Church, Bishop David Oyedepo, has disclosed what will happen if the church’s First Vice President, Bishop Abioye leaves.

Bishop Oyedepo said the devil will rejoice in hell if Bishop Abioye dumps Living Faith Church.

Abioye met Oyedepo in the 80s as a student, and they have since grown the church together.

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After Oyedepo departed Kaduna for Lagos, Abioye became the senior pastor of Garden of Faith in Kaduna, which was the former national headquarters of the church.

In 1993, he became a bishop in the church, and he’s currently heading the church Goshen branch in Nasarawa.

However, speaking at the ongoing Shiloh, Oyedepo extolled the followership qualities of Abioye.

According to Oyedepo: “If this man leaves Living Faith one second the devil will celebrate in hell, he’s solid with me day and night by genuine passion for soles to be saved as a lifestyle.

READ ALSO: Lagos: Kidnappers Abduct Couple In Ikorodu

“He can tell you more stories; he’s been with me on borrowed motorbikes in the valleys and on the mountains.

He follows me so hard; some occultic powers said if you can’t get the church, get the man,” but they testified that he was far above the sky, where they can’t locate him.

Do you have value for God’s presence? Then engage with passion; don’t be a social member of this church, or won’t pay you.”

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