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We Don’t Know Exact Daily Fuel Consumption – FG

Published

2 years ago

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…Petrol still smuggled out of this country, marketers say

As a country, we still cannot tell the exact volume of Premium Motor Spirit, popularly called petrol, which we consume on a daily basis, the Federal Government has said.

It stated this just as oil marketers explained that Nigeria’s inability to give a definite figure on the amount of petrol it consumes daily was due to the continued smuggling of PMS out of the country.

The Minister of State for Petroleum Resources, Chief Timipre Sylva, stated that the Nigerian National Petroleum Company Limited had also agreed that Nigeria could not tell the exact amount of petrol consumed across the country daily.

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He disclosed this in an interview with his media team, led by his Senior Adviser, Media and Communications, Horatius Egua, which was made available to our correspondent in Abuja on Friday.

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Asked to react to the N3tn fuel subsidy proposal by NNPC, amid concerns about the country’s PMS consumption figure, Sylva replied, “I would have preferred that this question be directed to the NNPC.

“I have made my views known about this issue in the past. NNPC has agreed with me that they are not certain about the exact consumption figure.”

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He said the truth was that if the country’s petroleum products were smuggled outside the country, nobody could say what volume was involved today, tomorrow or next week, adding that NNPC could not say they know these figures.

“It’s more or less fueling a criminal economy. The NNPC imports the products, and nobody knows the exact destination of the products at the end of the day,” Sylva stated.

He added, “The imported products come to Nigeria, and from there filters out of our borders to neighbouring countries.

“So, as a country, we cannot tell the exact volume of petroleum products that we consume on a daily basis. All we have been doing is to assume the level of consumption over a period and work with that.”

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He, however, expressed belief that the NNPC probably had a better answer to this, stressing that “personally, I dont.

“I have said this publicly before that I don’t know the figure. When I assumed office, initially I was told that our daily consumption was 66 million litres.

“Then, when fuel prices increased from N145 to N162, the consumption figure temporarily fell to about 40 something million litres per day, because the arbitrage opportunity reduced,” Sylva stated.

He added, “Then the value of the naira dropped again, and the number went up again to over 60 million litres. I am told the figure sometimes rise to as high as 90 or over 100 million litres. I don’t know how that happens.

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“At this rate, I have said if anyone is looking at a criminal enterprise, look no further than the fuel subsidy.”

This, the minister said, was why he had continued to advocate the removal of fuel subsidy from the country’s PMS pricing template and deregulate.

He said the President, Major General Muhammadu Buhari (retd.), had done everything to resolve the issue, including the closure of the country’s borders with neighbouring countries, yet the criminality was not stopped.

READ ALSO: Petrol Import Jumps By 88% In 12 Months, Hits N3.97tn –Report

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“The truth is that what the President could do was to close the ‘formal’ borders. What about the illegal routes?,” Sylva asked.

On what could be done, the minister said if the subsidy component was taken out through deregulation, smuggling of PMS to neighbouring nations would cease.

“Of course, we need the market from there. But now we are punishing ourselves because every litre we import at our expense will always find its way outside the country,” he stated.

He added, “Now, the government is trying to subsidise our citizens so that our people will at least get the benefit of the subsidy on petroleum products.

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“But, now because of how our borders are, it is very difficult. Now, we are inadvertently subsidising the whole of Africa. This is the thing we cannot handle.”

Also speaking on the matter, the Executive Secretary of the Major Oil Marketers of Nigeria, Clement Isong, told our correspondent that the cheap fuel in the country had remained an incentive to smugglers.

He said, “The higher the price (of petrol) is outside the country and you see prices where they are in the country, the natural response is that normal people such as farmers, okada drivers, transporters, etc, will leave their jobs to go and sell petrol.

“This is because of the mark-up. This is why, particularly in Abuja, you see many people carrying jerrycans of fuel selling them on major roads. This also plays along our borders.

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“For as long as the international price continues to rise and we keep our own prices where they are, what will happen is that those countries will suck the products out of Nigeria and you simply will not find the product in Nigeria.”

Isong added, “If you go to those countries, the marketers there will tell you that they are unable to sell because of the product coming from Nigeria is killing their market. This happens in all the countries around Nigeria.”

He stated that the normal supply chain volumes would continue to go down because the products were leaving Nigeria, describing those smuggling out PMS as ordinary everyday citizens.

“This is because they simply make more money buying from here at N162-N165/litre and going across the border to sell at N500/litre. It is more money for them and it is simply the law of economics, called arbitrage, which is a market distortion,” Isong stated.

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He added, “And it is what the subsidy on petrol does on Nigeria, a market distortion. Something is worth N500 and you’re selling at N200. Now where you’re supposed to find it at N200 you will not see it because it has moved to where the actual value of N500 is.

“This can also contribute to the scarcity we see in parts of Nigeria. That is why NNPC if it is meant to normally supply 60 million litres per day, for it to keep queues out of filling stations, it will have to increase its supply to 90 to 100 million litres. That’s the problem.”

READ ALSO: Fuel Souvenir: Lagos Socialite Jailed Two Years

The MOMAN official said Nigeria must wean itself of fuel subsidy, “because we are killing both our present and future.

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“We simply cannot afford it. We are borrowing money for it.”

PUNCH.

 

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VIDEO: Arsenal Pay Tribute To 14-year-old British-Nigerian Fan Daniel Anjorin Killed In UK

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14 hours ago

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May 4, 2024

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Arsenal fans have paid tribute to the late British-Nigerian teenage fan Daniel Anjorin, who was tragically killed by a sword-wielding assailant in London on Tuesday.

During the 3-0 victory over Bournemouth on Saturday, Arsenal paused the game in the 14th minute, with fans applauding in tribute to 14-year-old Anjorin, whose favourite player was Bukayo Saka.

Anjorin’s image was displayed on the scoreboard, accompanied by banners reading “R.I.P Daniel” in different sections of the Emirates Stadium as a mark of respect for the Arsenal supporter.

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TV presenter Piers Morgan was among a number of Arsenal supporters who paid tribute to the young fan during the game.

READ ALSO: JUST IN: Police Arrest Mastermind Of Abuja-Kaduna Train Attack

Anjorin’s family has issued a statement paying tribute to their son.

His family issued a statement via the Metropolitan Police that said, “We as a family are devastated by the loss of our beloved son Daniel. It is difficult for us at this time to process what has happened to him and that he will never come home. Daniel had left the house for school and then he was gone.

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“Our children have lost their loving and precious brother and we have lost the most loved and amazing son. We would like to send our best wishes to the other victims of this unthinkable incident.

“We would also like to thank the local community for all of their support during this most difficult time. We ask that the media please respect our privacy and refrain from contacting us or our family.”

READ ALSO: 14-year-old Boy Killed In London Sword Attack

According to The Guardian, a fundraiser set up for his family has raised more than £120,000 in three days, with more than 7,000 people donating.

Anjorin died on Tuesday morning as he walked to school in Hainault, in the east of Britain’s capital, when he was attacked by a man wielding what appeared to be a Samurai-type sword.

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The suspect, a Spanish-Brazilian national, Marcus Aurelio Arduini Monzo, was remanded in custody by a London Magistrates Court on Thursday.

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Find The Man Who Stole $30000 From Me, Get $2000 Reward – Nigerian Man Cries Out

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18 hours ago

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May 4, 2024

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Transaction details

A Nigerian man has offered a $2000 reward to anyone with information leading to the arrest of a man who allegedly defrauded him and his friends of over N42 million (approximately $30,000 USD).

Addressing the public on X.com, he said, “Hi everyone, this person defrauded my friends and I.

“We will be offering $2,000 (USD) to anyone who has info on him or knows of his whereabouts.”

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According to the victim, the suspect, who moved into the victim’s apartment, spun a web of lies, claiming to need financial assistance for various reasons, including a dying nephew and financial problems with the Federal Inland Revenue Services

He narrated, “Roughly three months ago, The dude in the video came to my apartment in Lagos sharing that he had some financial problems with the FIRS(Federal Inland Revenue Services).

READ ALSO: Nigerian Man Extradited From Malaysia, Convicted For $6.3m Fraud In US

“He mentioned how he got locked out of his funds of over N107,000,000 (USD 71,000+).

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“We (my friends and I), were sympathetic to his cause and decided to lend a helping hand.”

The victim revealed that he first encountered the suspect on a gaming platform, Fortnite, in 2023.

They bonded over shared interests and his alleged profession as a skilled 3D and Motion Artist.

“I was happy to connect with him because he presented himself as a well-skilled 3D & Motion Artist.

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“He also shared his Upwork profile with me, which was very convincing,” he added.

Detailing the events that unfolded, he said the suspect moved into their apartment in early February after a period of lodging in hotels and other residences.

READ ALSO: UK Slams Fresh Sanctions On Iran After Israel Attack

He added that he even financed a computer rental for the suspect, who claimed it was essential for his work.

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He wrote “Here is a detailed breakdown of the series of events that played out while he lived with us (myself and my flatmates):

“He was shuffling between hotels and apartments in January before he finally moved in with us early February

“He mentioned he needed a computer to continue working as he didn’t have any at the time, so, I offered to help with the rental.

“I sent him the money to purchase the computer on rental about three times and he never for once, received any computer.

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READ ALSO: Tragedy As Man Shot Dead During Fuel Queue Tumult In Lagos

“He kept on spinning lies around how there was either a delay or how the money miraculously went into thin air without achieving its purpose. At the time, I believed all these.

“We also had to raise about N1,700,000 to help assist with the admission of his dying nephew into the hospital because, according to him, the child had suffered internal bleeding after falling off a trampoline.

“He used this and other tactics to coerce us into giving him more cash.”

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The victim revealed that in March, the suspect purportedly convinced him and his friend to accompany him to Abuja to address his FIRS-related issues.

He shared screenshots of transactions made to the suspect’s account, urging the public to scrutinise the details for evidence.

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PHOTOS: Moment 23-year-old Miss Ecuador Beauty Queen Is Gunned Down In Hail Of Bullets

Published

19 hours ago

on

May 4, 2024

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Shocking CCTV footage shows two gunmen bursting into an eatery before killing the former Miss Ecuador contestant.

The former beauty queen, seen in the footage wearing a blue top, was talking to a man when the gunman, circled, walked in

Landy Párraga Goyburo can be seen standing next to a man while chatting with him inside the restaurant.

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She can be seen glancing towards the door as her assailant sneaks into the place without her noticing.

As the first gunman runs towards them, Párraga drops to the floor while the man next to her ducks for cover.

The masked attacker quickly opens fire, shooting towards both Párraga and the man.

READ ALSO: Appeal Court Stops Yahaya Bello’s Contempt Proceedings Against EFCC

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He then stands over her as she lies helpless on the floor and appears to shoot her repeatedly at point blank range.

Both attackers then dash out of the door and flee the scene.

Images later showed the former beauty queen lying motionless on the floor in a pool of blood.

Cops are now investigating the murder while trying to identify the assailants.

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Párraga was a former Miss Ecuador contestant, having represented Los Ríos Province in 2022.

She had more than a million followers across her social media accounts.

READ ALSO: EFCC Chairman Narrates How 17-year-old Hacked His Computer, Bank Account

In December 2023, her name was mentioned in a chat made public by the Attorney General’s Office as part of a major organised crime case it is investigating.

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One of the 52 people being prosecuted in the case is Helive Angulo.

In the chat, Angulo told the drug trafficker Leandro Norero, whose assets he managed, that the police had asked him about Párraga.

READ ALSO: How Two Kenyan School Dropouts Made Prosthetic Arms For People With Disabilities

Norero cryptically wrote: “If my wife comes across anything about her, I’m screwed.

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“My friend, her name cannot come out anywhere. Otherwise, my world will come crashing down.”

Norero was killed in prison in 2022, six months after his imprisonment.

Money transfers made to Párraga’s bank account are under investigation by the Attorney General’s Office.

The office never prosecuted Párraga and she had never publicly commented on the case.

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SOURCE: THE US SUN

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