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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

Eating Takeout Food Often May Increase Heart Disease Risk — Study

Published

9 hours ago

December 30, 2025

Editor

Research suggests that higher takeout food consumption may increase a person’s risk of cardiovascular disease, like heart disease.

In a new study, published in Food Science & Nutrition, researchers said eating takeout food too often can influence systemic inflammation that underlies much cardiovascular disease.

The study of over eight thousand people in the 2009 to 2018 U.S. National Health and Nutrition Examination Survey (NHANES) found that those who eat greater amounts of takeout food are likely to have various elevated risk factors for heart disease.

They were interviewed in their homes and also visited a mobile examination centre, where they recalled their food intake, received cardiometabolic health assessments, and had blood collected.

Mammograms may predict heart disease risk in women — Study

The researchers found a correlation between the amount of takeout food a person consumes and their likelihood of developing chronic low-level inflammation, a key driver of cardiovascular pathology.

Deaths from cardiovascular disease and the consumption of takeout foods are both on the rise, and while that does not prove a causal relationship, the study explores whether there is a connection between the two.

The study tracked degrees of systemic inflammation according to the Dietary Inflammatory Index (DII), a scale that quantifies the risk of inflammation related to the intake of specific dietary substances.

The three major takeaways from the analysis included that a higher level of takeout food consumption corresponded to an unfavourable cardiometabolic profile consisting of lower HDL, as well as higher triglycerides, fasting glucose, serum insulin, and insulin resistance.

Jayne Morgan, MD, cardiologist and Vice President of Medical Affairs in a reaction, who was not involved in the study, explained that “Takeout food raises the cardiovascular risk not because of one ingredient, but because of a predictable combination of nutrients, additives, and preparation methods that adversely affect blood pressure, lipids, insulin sensitivity, inflammation, and endothelial function.”

“This includes excess sodium that increases blood volume and blood vessel stiffness, and unhealthy fats, usually saturated fats or trans fats, that increase cholesterol level and atherosclerosis, a condition that can lead to heart attack and stroke.”

Michelle Routhenstein, Preventive Cardiology Dietitian at Entirely Nourished, also not involved in this study, declared, “It is also important to recognise that frequent takeout use often reflects broader lifestyle pressures such as demanding schedules, limited access to cooking resources, irregular meals, and disrupted sleep, all of which can quietly compound cardiovascular risk.”

News

How To Identify Fake Kiss Condoms In Circulation

Published

11 hours ago

December 30, 2025

Editor

The National Agency for Food and Drug Administration and Control (NAFDAC) has recently warned Nigerians about the circulation of counterfeit Kiss brand condoms in major markets across the country.

Contents
Original DKT Kiss condoms
Fake Kiss condoms

In a public alert published on its website recently and referenced as Public Alert No. 042/2025, the agency said the warning followed information received from DKT International Nigeria, a non-governmental organisation involved in contraceptive social marketing and HIV/AIDS prevention.

NAFDAC stated, “The National Agency for Food and Drug Administration and Control is notifying the public about the sale and distribution of fake Kiss condoms in various Nigerian markets.

“The information was received from the MAH-DKT International Nigeria, a leading non-governmental organisation focused on contraceptive social marketing. Its mission is to provide Nigerians with affordable and safe options for family planning and HIV/AIDS prevention.

“The fake Kiss condoms have been reported to be found in Onitsha Market, Idumota Market, Trade Fair Market, and various markets in Kano, Abuja, Uyo, Gombe, Enugu, and others.”

Kiss condom is a brand of male latex condoms designed to offer sexual protection, including the prevention of unwanted pregnancy and sexually transmitted infections such as HIV, gonorrhoea and syphilis.

To help consumers avoid counterfeit products, NAFDAC outlined key differences between original and fake Kiss condoms.

Original DKT Kiss condoms
The original product comes in a light red box pack with clear instructions printed on the lower part of the pack, including single-use warnings and storage and caution information. The box contains detailed medical device information, including MDSS GmbH, Germany, and a complete Nigerian address at Isolo Industrial Layout, Oshodi-Apapa Expressway.

The condom pack is light red, with the word “Kiss” closely written on six lines. The wallet outer pack is lighter red, carries the Oshodi-Apapa address, manufacturer details, and a clear product description beside the condom image. The hidden flap includes revision dates, medical device details, and caution information, while the wallet inner contains detailed instructions and eight bullet points under important notes.

The original condom is large, oval-shaped, well-lubricated, and has a large teat end for semen collection.

Fake Kiss condoms
In contrast, fake Kiss condoms come in darker-coloured box packs with little or no additional information. Some boxes are plain white inside and lack condom images. The address is wrongly listed as 42, Montgomery Road, Yaba, Lagos, while the manufacturer’s address is incomplete or missing. Storage and caution information is absent.

The condom pack is darker, with “Kiss” loosely written on five lines and wide spacing. The condom strip is longer than the original. The wallet outer pack is also darker red, carries incorrect or missing addresses, lacks colour wave designs, and shows inconsistencies in barcode lines. Medical device and caution information are missing, and the hidden flap contains no details.

Inside the wallet, information is summarised with only six bullet points. The fake condom is thinner, round-shaped, less lubricated, and has a smaller teat end.
(TRIBUNE)

News

Lagos: Police Arrest 14 Suspected Traffic Robbers On Lekki-Epe Expressway

Published

14 hours ago

December 30, 2025

Editor

Fourteen persons suspected to be involved in traffic-related robbery have been arrested at various points along the Lekki-Epe Expressway in Lagos over the past two weeks.

The arrests were confirmed on Tuesday by the Lagos State Police Command spokesperson, SP Abimbola Adebisi, via a post on her official X handle, @AbimbolaShotayo.

According to her, operatives of the Command’s Tactical Squad based in Elemoro carried out the operations that led to the suspects’ apprehension.

She explained that the arrests followed sustained patrols and intelligence-driven operations aimed at curbing criminal activities associated with traffic congestion and improving the safety of motorists and other road users along the busy corridor.

Adebisi noted that the development reflects the Command’s determination to strengthen security and uphold law and order on the Lekki-Epe axis, adding that the Tactical Squad has continued to proactively identify crime-prone areas and respond swiftly to threats posed by criminal elements.

She called on residents and commuters to support police efforts by providing timely and credible information that could assist in preventing and detecting crime.

“Security is a shared responsibility. Members of the public are encouraged to stay alert and promptly report any suspicious movements or activities to the nearest police station,” she said.

The police spokesperson further reassured residents and road users of the Command’s commitment to maintaining aggressive patrols and security operations to protect lives and property in the area.

She reiterated the Command’s community policing message, “See Something, Say Something,” stressing the importance of cooperation between the police and the public in sustaining peace and security.