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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.
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News

NiMet Warns Of Flash Flooding In 19 States

Published

14 hours ago

May 8, 2026

Editor

The Nigerian Meteorological Agency (NiMet) has warned that 19 states across the country may experience flash flooding.

In an advisory issued yesterday, NiMet said increased surface runoff and flash flooding could occur during heavy early rains due to dry and hardened soils that prevent water from properly soaking into the ground.

The agency listed the states likely to be affected as Zamfara, Nasarawa, Kwara, Oyo, Lagos, Ogun, Ekiti, Delta, Imo, Anambra, Enugu, Ebonyi, Akwa Ibom, Cross River, Rivers, Edo, Ondo, and Bayelsa.

NiMet said the possible impacts include flooded roads, traffic disruption, damage to homes, farmlands, and infrastructure, blocked drainage systems, power outages, telecommunication disruptions, and increased risks of injuries and water-borne diseases.

The agency advised residents to clear blocked drainage and stay updated with weather and flood alerts.

NiMet also cautioned motorists and pedestrians against driving or walking through flooded areas.

The agency asked relevant authorities and stakeholders to strengthen coordination, preparedness, and emergency response measures to reduce flood-related risks.

“An informed community is a prepared community. Know the risks and act early,” the advisory read.

The Federal Government had warned that 14,118 communities in 33 states and the Federal Capital Territory (FCT) are at risk of severe flooding in 2026.

The states include Abia, Adamawa, Anambra, Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Enugu, Gombe, Imo, Jigawa, Kaduna, and Kano.

Others are Kebbi, Kogi, Kwara, Lagos, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe, and Zamfara, and the FCT.

Meanwhile, Nimet and the National Emergency Management Agency (NEMA) have intensified efforts to improve disaster management in the country with plans to develop a national early warning system roadmap.

The move was announced yesterday during a courtesy visit by the Director General of NEMA, Zubaida Umar, to the Director General of NiMet, Charles Anosike, at the NiMet headquarters in Abuja.

Mrs Umar applauded NiMet for the timely release of the 2026 Seasonal Climate Prediction and its consistent weather forecasts, noting that the agency had recorded significant improvements under Prof. Anosike’s leadership.

News

‘Nothing New’ – Wike Defends Houses For Judges, Dismisses NBA Criticism

Published

15 hours ago

May 8, 2026

Editor

Federal Capital Territory, FCT, Minister, Nyesom Wike, on Friday defended the construction of houses for judges and justices in Abuja, dismissing concerns that the projects could compromise the independence of the judiciary.

Wike spoke after inspecting ongoing judicial infrastructure projects, including judges’ residences, the Court of Appeal Abuja Division and proposed residential projects for judges of the Industrial Court and the Code of Conduct Tribunal.

The minister’s remarks followed criticisms reportedly raised by the Nigerian Bar Association (NBA) over executive involvement in the provision of infrastructure for the judiciary.

Rejecting the concerns, Wike argued that government provision of facilities for judicial officers was neither new nor a threat to judicial autonomy.

He said: “The mere fact that the executive constructs buildings does not mean it will interfere with the judiciary.

“We have built public houses for the National Assembly and for the judiciary before. The Supreme Court was built by government. So there is nothing new in this.”

Wike accused the NBA leadership of inconsistency, alleging that the association frequently sought financial support from state governments for its conferences and activities while criticising government interventions in the judiciary.

“All they are interested in is when state governments will sponsor NBA activities. If governments fund their conferences, does that mean they are no longer independent?” he queried.

He maintained that the FCT Administration would not be distracted from implementing projects designed to improve the welfare and working conditions of judges and justices.

“This is a voluntary act by government to make judicial officers comfortable and focused on their work. It is not done to erode judicial independence,” the minister added.

Wike said the projects formed part of activities lined up to mark President Bola Tinubu’s third anniversary in office.

He expressed satisfaction with the completion level of the judges’ quarters, describing the project as well executed and nearly ready for inauguration.

“We’ve seen the judges’ quarters beautiful. I’m very elated that the job was done well. The houses are well furnished and almost 99 per cent ready,” he stated.

The minister also disclosed that preparations had begun for the groundbreaking ceremony of residences for judges of the Industrial Court and the Code of Conduct Tribunal.

However, he expressed dissatisfaction with aspects of the finishing at the Court of Appeal Abuja Division project, despite its advanced stage of completion.

“Almost 90 per cent complete, but I must say it’s not the quality I expected. I have told the contractor that several errors must be corrected before inauguration,” he said.

Wike assured that the administration would continue monitoring contractors to ensure all projects are delivered according to specification and within schedule.

“All the promises that have been made, we are going to fulfil them. That is why we are going around to inspect and ensure contractors are ready,” he added.

News

LASG Fixes Dates For Public Service Exams, Releases CBT Guidelines

Published

1 day ago

May 7, 2026

Editor

The Lagos State Government, through the Ministry of Basic and Secondary Education and the Lagos State Examinations Board, has released the timetable and guidelines for the 2026 Public Service Examinations.

In a statement by the Lagos State Government, the announcement, which aligns with a prior circular from the Head of Service with Ref No: CIR/HOS/’26/005 dated January 21, 2026, sets out key instructions for candidates preparing for the exercise.

The examinations will hold between Tuesday, May 12 and Tuesday, May 19, 2026, at the Lagos State Public Service Staff Development Centre (PSSDC), Magodo, Lagos.

They include the Compulsory Examination for all cadres in the State Public Service, the Combined Confirmation/Promotion Examination for Clerical Officers II (CO II) and Clerical Assistants (CA), as well as the External Secretarial Examination.

According to the board, candidates are expected to begin printing their examination slips from Tuesday, May 5, 2026, through the official portal using their registration login details.

The slip will contain key information such as each candidate’s exam date and time.

“All candidates are required to present valid identification at the examination centre. Acceptable forms of identification include Staff Identity Cards, National Identification Number (NIN) slips, and Lagos State Residents Registration Agency (LASRRA) cards,” the statement said.

Candidates are also required to bring printed copies of their examination slips to the venue and must strictly follow the date and time allocated to them.

The board further advised candidates to acquaint themselves with basic computer skills ahead of the exercise, as the examinations will be conducted using a Computer-Based Test, CBT, format.

It also warned that dressing must be formal, adding that inappropriate dressing will not be allowed at the examination centre.

Candidates were urged to comply fully with all instructions to ensure a smooth and orderly process.

“The Lagos State Examinations Board urges all candidates to comply fully with these guidelines to ensure a smooth and orderly examination process,” the statement added.