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Petrol Price May Likely Increase, FG Warns
Published
5 years agoon
By
Editor
Minister of State for Petroleum Resources Timipre Sylva on Tuesday hinted the likely hike in the pump price of petrol, just as he urged Nigerians to be ready to bear the pains as crude oil price climbs above $60 per barrel.
Sylva spoke at the launch of the Nigerian Upstream Cost Optimisation Programme (NUCOP) in Abuja.
Sylva said the Nigerian National Petroleum Corporation (NNPC) cannot continue to bear the cost of under-recovery because there is no provision of subsidy in the 2021 budget.
The petroleum minister noted that while government revenue had improved by the rise in crude oil price globally, it cannot be fretted away in subsidy payments.
Sylva said: “Since we are optimising about everything, NNPC needs to also think about the optimisation of product cost because as we all know oil prices are where they are today, $60.
READ ALSO: BREAKING: Court Unfreezes #EndSARS ‘Promoters’ Accounts
“As desirable as this is, this has serious consequences as well on product prices. So we want to take the pleasure and we should as a country be ready to take the pain.
“The NNPC is taking a big hit from this. We all know that there is no provision in the budget for subsidy.
“So, somewhere along the line, I believe that the NNPC cannot continue to take this blow. There is no way because there is no provision for it.
“As a country, let us take the benefits of the higher crude oil prices and I hope that we will also be ready to take a little pain on the other side; on the side of higher product prices,” he said.
Mr Mele Kyari, Group Managing Director of the NNPC, while sharing
the minister’s position, noted that although Nigeria, like other countries in the world, was happy about the increase in the price of crude, it comes with a consequence.
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According to him, the increase has impacted the price of finished petroleum products anywhere in the world, including Nigeria.
Kyari assured that government was engaging with organised labour to make sure there is a structure that will ensure there is no exploitation of ordinary Nigerians by the vagaries of the market.
He said: “I am sure you must have seen a number of newspaper conversations around the price of petroleum; I am sure we are all happy here that crude oil has hit the $60 mark by yesterday (Monday) and probably growing but certainly not going beyond this voodoo game.
“We don’t see it crossing the $65 per barrel mark. We said $60 now we have reached it and we are getting to $65 but it comes with its consequences.
“One of it is that it has impact on the price of finished petroleum products anywhere in the world, including our country. This is a tough challenge we are dealing with to be able to make sure that we are able to get this country wet; despite all the challenges we have the clear directive of government to deregulate the downstream sector,” he said.
Also speaking at the event, the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) – an affiliate of the Trade Union Congress, stated this amid concerns that the government may increase the price of premium motor spirit (otherwise known as petrol) following increase in the global price of crude oil to $60 per barrel.
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PENGASSAN President Festus Osifo said there must be cost reduction in the oil and gas sector.
Osifo said: “Speaking about cost reduction in the oil and gas industry; it is a good initiative. But, we should look at cost reduction in governance because today the cost of our governance is quite increasing and in a very alarming rate.
“As we are tasking employees in oil and gas industries to come up with initiatives that could reduce our costs, let us also look at the way we have been managing government; the way we have been increasing bureaucracies. This must be looked at because nobody should be a sacred cow.”
The Chairman, Senate Committee, Upstream, Bassey Akpan, said there is a need to take a second look at production cost for Nigeria to remain competitive.
He said the National Assembly was ready to pass the Petroleum Industry Bill this year to ensure the smooth operation of the oil and gas sector.
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote, said the discussion on cost reduction was long overdue.
Wabote said: “Cost reduction comes with some pain and what’s important is how the business will survive to sustain jobs. Local content is a panacea for cost reduction. There are massive cost savings when Nigerians run the business unlike when expatriates flood the business.”
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Tension As Unknown Gunmen Kill Police Informant In Imo Community
Published
4 months agoon
April 25, 2025By
Editor
By Qosim Sulaiman
Palpable tension engulfed the residents of Nkwogwu community, Aboh Mbaise Local Government Area of Imo State following the killing of an elderly man, Pa Albert Nwanchukwu, believed to be a police informant.
The assailants, numbering about eight, who reportedly stormed the home of the late Nwanchukwu at about 10pm on Tuesday, 22 April, 2025, were said to have met him where he was relaxing in his compound and immediately opened fire on him.
According to our source who pleaded anonymity, before his assassination, the late Nwanchukwu, had reportedly went to a police station in the locality to inform them of the activities of the gunmen, just as he pleaded to the police to get them arrested.
Our source disclosed that the late Nwanchukwu never knew that some policemen are accomplished in the act, adding that the policemen no doubt informed the gunmen who in anger came and killed him.
READ ALSO: Again Unknown Gunmen Kill One In Imo, Set Govt Vehicle Ablaze
Our source narrated: “They were about eight in number. They came with different weapons – guns, machetes. They were all masked except their leader.
“It was late but the floodlight from the streetlight was bright. They drove dangerously and went straight to Mr Albert Uwandu Nwachukwu house. The man was relaxing in the front of his house. Immediately they saw him, they opened fire,” he died on the spot”, an eyewitness who saw the entire scene from the balcony of his house recounts.
Our source added: “Further investigations proved that the spy had informed this notorious gang of late Pa Nwachukwu’s visit to the police, thereby leading to the attack on his household.”
After killing the man, the gang reportedly went inside the house searching for other family members.
READ ALSO: One Killed As Unknown Gunmen Attack Hotel, Set Vehicles Ablaze In Ebonyi
While it was evident that the gang intended to eviscerate the entire members of the family, three of his children – Victor Onyedikachi Nwachukwu, Promise Rita Nwachukwu Yakubu and Blessing Nzebechi Nwachukwu escaped.
“I saw the three of them. They ran through the back door. Since that time, we have not seen them again”, the same eye-witness disclosed to our correspondent.
This particular incident has thrown the entire community and Aboh Mbaise Local Government in general, into mourning.
While some questioned the safety of police informants, other believed the incident shows the rot in the police force of the country.
Expressing his disappointment in the police, the chairman of Aboh Mabise LGA; Honourable Barrister Iheukwumere Henry Alaribe vowed a major crackdown on the unknown gunmen.
The Commissioner of Police, Imo State Command, CP Aboki Danjuma promised a total clampdown and return of sanity to the community.
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Protect Oil Palm Host Communities; Address Spate Of Kidnapping, Violence, Govt Told
Published
6 months agoon
February 26, 2025By
Editor
By Joseph Ebi Kanjo
A non-profit organization – African Law Foundation (AFRILAW), has appealed to the government at levels to ensure the protection of oil palm host communities and address the spate of kidnapping and violence in such areas.
AFRILAW further urged the governments to ensure that communities’ rights and privileges are respected in land deals with oil palm companies to avoid human rights violations.
Okereke Chinwike Esq,
Founder and Chief Executive Officer, AFRILAW, made the appeal in Benin on Tuesday at the Public Presentation and launching of ‘The Community-based Report on Human Rights Violations in the Palm Oil Supply Chain in Edo State.’
INFO DAILY reports that the event is part of AFRILAW activities under the “Promoting Human Rights in Palm Oil Supply Chain in Nigeria Project,” being implemented by AFRILAW in partnership with Zero Tolerance Initiative (ZTI) and the National Human Rights Commission (NHRC) with funding support from True Cost Initiative (TCI) USA.
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According to the AFRILAW founder, addressing companies’ human rights violations from their operations in host communities require evidence-based research, hence the research and report presentation.
“The Report we are presenting today documents evidence of community rights violations by major oil palm companies operating in the state. The research is informed by the increasing spate of violence and community protests against the operations of oil palm companies operating in Edo state, and provides greater understanding of the prevailing cases of community and human rights violations and nature of conflicts,” he noted.
He, therefore, urged the government to
“put in place a mandatory binding CSR laws and guidelines for companies to ensure that community rights and privileges are protected.”
He further appealed to the government to “ensure effective implementation of the National Action Plan on Business and Human Rights and set forth clear expectations for business enterprises regarding the importance of respecting the rights of human rights defenders, indigenous people and communities in Nigeria.”
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On his part, Executive Secretary, National Human Rights Commission, Anthony Ojukwu (SAN), described the report as essential, stressing that beyond normal advocacy, research-based advocacy is more efficient and effective.
Represented by Mrs Mary Okoh, Deputy Director, Legal/Focal Point Business and Human Rights, NHRC, Ojukwu said beyond Corporate Social Responsibility (CSR) organization should take seriously major issues of mainstreaming human rights into their operations.
“That means anyone who wants to set up a business must put into consideration the needs of the people and not what the organization or company needs. We have found out that this is where human rights violations start.
“Let them be part of the discussion and planning in the setting up of the business. Let them know what is at stake for them,” he said.
Goodwill messages were delivered by government agencies and ministries, while the presentation and launching also attracted security agencies including the Nigeria Police Force, the Nigerian Army, the Nigerian Customs Service, and the Nigeria Immigration Service among others.
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#EndBadGovernance: Police Manhunt Activists, Others, As Artist Cries Out For Help In Benin
Published
1 year agoon
August 15, 2024By
Editor
The Nigeria Police Force has launched a manhunt for suspected sponsors of the #EndBadGovernance in Nigeria protest that swept round the country last week.
Though police had arrested scores of such protesters across the country, many, especially vocal personalities and civil rights activists who have been criticising policies of the Tinubu administration in Nigeria have been penned down for arrest.
Also of interest to the police are those alleged to have massively produced and supplied Russian flags that were displayed during the protests, as they have vowed that none of the suspects would be spared.
It was gathered that undercover policemen are closing in on the social critics including one Osarenkhoe Destiny Oghosa, a vocal music artiste in Benin City.
READ ALSO: #EndSoldier Shoots 16-year-old #EndBadGovernance Protester Dead In Kaduna
This has raised fears and trepidation in that circle with many going underground for fear of being arrested by the police.
Oghosa is accused of masterminding an attempted jail break in the Benin metropolis similar to the End SARS protest in 2020, experience that resulted in the prison break and escape of prisoners and detainees alike.
Oghosa, in an interview with our correspondent, lamented that his music which focuses social justice, equality, societal ills among others in Nigeria, is now being as a crime.
He further lamented that despite several tactics to beat the security tab on him by agents of the government, he had faced persecution from invincible nocturnal groups.
READ ALSO: #EndBadGovernance: Protesters, Police Clash Averted In Rivers
Further lamenting how the government is hell bent in silencing voices speaking for the masses, Oghosa recalled how he was called at midnight to stop production of his song titled “OBI”, adding that he was seriously warned .
In a related development, Ahmed Bello, one of the suspect producers of the Russian flag hoist in some cities in Nigeria has been attested.
The Force Public Relations Officer, Muyiwa Adejobi, disclosed this in Abuja on Monday at the Strategic Communications Interagency Policy Committee joint press briefing.
He added that the police were on the trail of other suspects, especially the sponsors of the protest which led to the destruction of government properties in Kaduna and Kano States.
Adejobi said the suspects committed a treasonable felony, offence by waving a foreign country’s flag in Nigeria.
READ ALSO: BREAKING: Tinubu To Address Nigerians Sunday Amid #EndBadGovernance Protests
He said: “So, we need to set the record straight. It is important for us to know, so far so good we have been able to arrest some individuals who were engaging themselves in what I call a treasonable felony, while we are still going after their sponsors.
“To carry the flags of a foreign country in another country is a criminal offence. We have them arrested. Just this morning, we arrested one Ahmed Bello from Kano State fuor producing a large quantity of Russian flags given to young Nigerians to hoist for reasons best known to him.”
The police added that protesters in Benin City had made attempts to invade the DSS office in the state with the intention to free persons who in their opinion were being unjustly detained there-in forcing the law enforcement agencies to disperse them.
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