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Scarcity: FG Orders NNPCL To Reduce Petrol Price

Published

3 years ago

January 10, 2023

The Nigerian National Petroleum Company Limited is selling Premium Motor Spirit, popularly called petrol, at a loss because of its mandate from the Federal Government as regards PMS subsidy, the Minister of State for Petroleum Resources, Chief Timipre Sylva, said on Monday.

Sylva’s remarks came as oil marketers stated that the supply hitches in the downstream oil sector that often leads to fuel scarcity, might persist till June, based on the government’s plan to end petrol subsidy in that month.

The petroleum minister spoke in Abuja at the resumption of the scorecard series (2015-2023) of President Muhammadu Buhari.

Last week, the Minister of Finance, Budget and National Planning, Zainab Ahmed, said the Federal Government had budgeted about N3.6tn for fuel subsidy till June 2023.

Sylva, while speaking in Abuja on Monday, insisted that subsidy had been a burden, but stressed that it was a mandate on NNPC which had made the oil firm to continue selling PMS at a loss.

He said, “The management of the supply situation under this subsidy regime is not easy. We must all agree that so much money is being burnt in our cars, but somehow we have to put funds to continue to keep the country wet.

“Sometimes if you really think deeply you begin to wonder what magic we are doing to be able to keep this country wet consistently. Considering that you buy something, let’s say for N10, and you are to sell it at a loss.

“And then you are expected to go back to buy the same thing, and come back again to sell it at a loss. So at every point in time you are looking for more money to continue to buy it, because you’re mandated to sell it at a loss.”

Sylva added, “So if you are a businessman, look at it from this perspective, that you are now in the business where you are mandated to sell at a loss to the public. That is not an easy job, I must tell you.”

Respond in to a question on how he would feel when buying petrol at N300/litre, Sylva said he would not feel bad about it.

“If you ask me how I will feel as a private citizen to buy petrol at N300/litre, sadly, I will say I won’t feel bad, knowing the actual situation. And if you compare Nigeria to other countries, you will understand,” he stated.

The minister added, “When you convert the N300/litre that you are talking about to other currencies, then you will understand. A lot of you travel to the United Kingdom or the United States, how much do you buy petroleum products there? Even in Arab communities that produce crude oil.”

He said the cost of the commodity in Nigeria was not as high as what was obtained in other countries, but stressed that the current national consensus was that subsidy on petrol was no longer sustainable.

“Unfortunately we are still in a subsidised regime, which all of us know. As a country, I think it is a national consensus now that subsidy is not sustainable, but together we will get there,” Sylva stated.

He said until the cost of petroleum products were market driven, investors would continue to shy away from investing in the downstream oil sector.

“Under a subsidised regime, who is going to invest? If you build a refinery, how is your refinery going to make profit under a subsidised regime? But if you have a market-driven situation, you’ll see that a lot of investors will come.

“And the more refineries we have, this problem of access to petroleum products will be a thing of the past,” Sylva stated.

FG, Dangote

The Federal Government on Monday revealed that it had acquired shares in four refineries operating in various locations across the country.

It outlined the refineries to include the 650,000 barrels per day integrated Dangote Refinery in Lagos; 12,000bpd Azikel Modular Refinery in Bayelsa; 5,000bpd Waltersmith Modular Refinery in Imo; and 2,500bpd Duport Modular Refinery in Edo.

The government also announced that the 60,000bpd component of the Port Harcourt Refining Company in Rivers State, would begin operations in the first quarter of this year, stressing that the facility had been completed.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, and the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited, Mele Kyari, disclosed this in Abuja at the ministerial scorecard series of the current administration.

Commenting on the equity of the Federal Government in Dangote Refinery, Sylva said it was 20 per cent, adding that the government had also bought shares in three other refineries.

He said, “We have 20 per cent equity in Dangote Refinery and we have also taken 20 per cent equity in Azikel Refinery. We took 30 per cent in Waltersmith, and we also have 30 per cent in Duport Refinery.

“Duport Refinery is already finished. They’ve concluded the construction. It only remains to start operations. I’m sure that within the next one month or so, Duport Refinery will also start operations.”

The minister explained that the Dangote Refinery already had an established contract with NNPC, in terms of crude oil supply, but noted that some modular refineries usually accessed crude oil from assets closer to the plants.

“So they (modular refineries) have this (crude oil supply) contract with private sector owners of these assets that are near them,” he stated.
PUNCH

News

Police Disown Viral Recruitment Notice, Warn Against Fraud

Published

11 minutes ago

September 18, 2025

Editor

The Nigeria Police Force has disowned a recruitment notice circulating on social media, describing it as fake and warning Nigerians not to fall victim to fraudulent schemes.

The document, titled “Nigeria Police Force Recruitment Exercise 2025”, had invited applications from SSCE, OND, HND, and B.Sc. holders, listing requirements such as age limits, fitness standards, and academic qualifications. It also outlined an alleged application process through a supposed police recruitment portal scheduled to open on September 23, 2025.

The notice claimed that candidates were expected to be Nigerian citizens by birth, hold a valid National Identification Number, and meet minimum height and academic criteria. It also warned against membership of secret societies and directed applicants to submit various documents, including birth certificates and guarantor declarations.

In a post on its verified X handle on Thursday, the Nigeria Police Force dismissed the claims and stamped the document “FAKE” to alert the public.

The Police Service Commission (PSC) had earlier issued a similar warning. On August 30, PSC spokesperson Ikechukwu Ani clarified that no recruitment exercise had been announced for 2025.

“The advertorial currently in circulation is fictitious and diversionary,” Ani said. “The Commission has repeatedly urged young Nigerians eager to join the police to be patient and await the official process.”

He added that the forged documents being circulated bear no resemblance to the Commission’s official communication.

The police authorities reiterated that any official recruitment exercise would be publicly announced through verified government platforms.

News

Okpebholo Warns Companies Against Fuelling Edo–Delta Boundary Dispute

Published

51 minutes ago

September 18, 2025

Editor

Edo State governor, Monday Okpebholo, has issued a stern warning to companies attempting to exploit the lingering boundary dispute between Edo and Delta states.

Okpebholo cautioned the companies to desist from encroaching on Edo territory while the matter remains before the National Boundary Commission (NBC), for adjudication and adjustment.

The governor’s stance follows a recent reports of encroachment on Edo territory by the Delta State Government and companies allegedly attempting to establish operations on disputed lands.

Okpehbolo, accompanied by the Assistant Inspector-General of Police (AIG), Zone 5, Salman-Dogo Garba, and other top security officials, spoke when he paid a fact-finding visit to the disputed areas.

The disputed territory lies between Urhonigbe Community in Orhionmwon Local Government Area of Edo State, and Umutu community in Ukwuani Local Government Area of Delta State.

Represented by his deputy, Hon. Dennis Idahosa, Okpebholo, while addressing residents of Urhonigbe community, assured them of his administration’s commitment to safeguarding their interests, but urged restraint.

He further urged the affected communities to remain peaceful and law-abiding, stressing that the dispute was being handled at the highest level of national authority.

“We are here at the boundary to see the disputed area and the actual demarcation. We are appealing to the Federal Government and President Bola Ahmed Tinubu to ensure that the NBC steps in and expedites action so that this dispute is resolved once and for all.

“This River Ethiope is a natural boundary. We don’t want any crisis in the South-South or between Edo and Delta states. We are brothers, having once been Bendel State before Delta was created. We want peace, and we want the right thing done quickly.”

“Please don’t take laws into your hands. As a government, we will protect the territorial integrity of Edo State. But we must maintain peace and harmony with our neighbors while this matter is before the NBC,” he pleaded.

Okpebholo emphasised that while his administration was committed to defending Edo territorial claims, it would do so with fairness, peace, and respect for due process.

“Our ultimate goal is to ensure justice, preserve harmony, and protect the integrity of our people and our State,” he affirmed.

In his remarks, AIG Salman-Dogo Garba urged restraint, describing both Edo and Delta as inseparable partners in peace and development despite the dispute.

“I appeal to the communities, Edo and Delta are still brothers despite this land dispute. Be peaceful, avoid violence, don’t take up arms over this matter as it is already before the NBC,” he advised.

News

Release Nnamdi Kanu For Medical Treatment, Ohanaeze President Begs FG

Published

2 hours ago

September 18, 2025

Editor

The President General of Ohanaeze Ndigbo Worldwide, Senator John Azuta-Mbata, has called on the Federal Government to release the detained leader of the proscribed Indigenous People of Biafra, Nnamdi Kanu, to enable him to seek proper medical attention.

This is as Azuta-Mbata called on Igbos across the country to ensure they register in the ongoing voters’ registration exercise and obtain their voter cards.

Azuta-Mbata said this in a short video message of himself speaking, which he sent to The PUNCH on Thursday.

Kanu’s detention has remained one of Nigeria’s most contentious political and security issues in recent years. Kanu, who was first arrested in 2015 on charges bordering on treasonable felony, jumped bail in 2017 and fled the country.

He was rearrested in Kenya in June 2021 in a controversial operation by Nigerian security operatives and has since been held in the custody of the Department of State Services.

He also urged the government to explore a political solution in handling the issue of the detained IPOB leader, saying the apex government does not have any advantage in the continuous detention of the IPOB leader.

Azuta-Mbata stated, “I’m calling upon Ndigbo-nine (Igbos in general) wherever you are in Nigeria to quickly go and take advantage of the voter registration exercise that is going on right now. Go and get your cards as quickly as possible.

“Secondly, I would like to call upon the federal government of Nigeria to quickly release Nnamdi Kanu. The Government has no serious advantage in keeping him. It is important that the government ensures his safety and his welfare, and that the Government must allow him to go and get medical treatment as quickly as possible.

“The Government must adopt a political solution to this situation. I do not believe that the Government has any serious advantage in keeping him any further.”