Eleven days after the Nigerian National Petroleum Corporation (NNPC) promised there would be no price hike for Premium Motor Spirit, popularly known as petrol in March, the price has hit N212 litre.
On February 28, NNPC spokesman, Kennie Obateru, gave the assurance in a statement, in reaction to the long queues in some states.
“Contrary to speculations of an imminent increase in the price of PMS in the country, the NNPC has ruled out any increment in the ex-depot price of petrol in March”, he noted.
But on Thursday night, the Petroleum Products Pricing Regulatory Agency (PPPRA) released the latest guiding retail price.
In a template published on its website, the agency explained that the increment was due to the market determinants and importation costs.
PPPRA fixed the lower band of the new fuel price at N209.61 per litre and upper band at N212.61 per litre.
The price was calculated on the approved average importer & exporter (I&E) Naira exchange rate per dollar of N403.80. The crude oil price at the international market is currently $70/barrel.
PPPRA said the average price per ton of the commodity is about $561.96, or N169.22 per litre, while the average freight rate cost $21.63 per ton, or N6.51 per litre. The ex-coastal price is N175.73 per litre.
For component charges, the average littering expenses cost N4.81 per litre; Nigerian Ports Authority (NPA) charge N2.49 per litre; NIMASA charge N0.23 per litre.
Jetty Through Put charge is N1.61 per litre; Storage charge is N2.58 per litre, and average finance is N2.17 per litre, translating to an expected landing cost per litre of N189.61.
There is the wholesale margin of N4.03 per litre; administration charge of N1.23 per litre; transporters’ allowance (NTA) of N3.89 per litre; Bridging Fund cost of N7.51 per litre and Marine transport average (MTA) of N0.15 per litre.
The expected ex-depot price for wholesale products marketers now stands at N206.42 per litre. The addition of retailers’ margin of N6.19 per litre would bring the expected retail price (lower band) N209.61 per litre and expected retail price (upper band) N212.61 per litre.
Obadiah Mailafia, former CBN Deputy Gov is deadObadiah Mailafia, former CBN Deputy Gov is dead
Obadiah Mailafia, a former Deputy Governor of the Central Bank of Nigeria is dead.
Mailafia, the 64-year-old reportedly passed away on Sunday morning at the National Hospital Abuja.
Recall that Obadiah Mailafia stirred controversy after he granted an interview accusing most top government officials of sponsoring terrorism in Nigeria.
Confirming his death, Fani-Kayode on his Twitter page wrote: “I am saddened by the passing of my dear friend & brother Mr. Obadiah Mailafiya who was one of the most powerful and progressive voices in our country. I was informed that he passed on this morning. He was a great nationalist, a believer in Nigeria, a kind and gentle soul.”
APGA disowns Jude Njoku as Party National Chairman, insists on Oye
The All Progressive Grand Alliance (APGA), has refuted viral claims of a court pronouncement affirming Chief Edozie Njoku as the party’s national chairman.
The All Progressive Grand Alliance is currently battling a leadership crisis that has led to the emergence of several factions, coupled with court litigations among each of the factions claiming to be the authentic elected national working committee (NWC) of the party.
A party chieftain, Edozie Njoku had approached the federal high court and sought among other reliefs, a declaration of the court in his favour as the National Chairman of APGA.
He also prayed the court to mandate Independent National Electoral Commission (INEC) to recognise him as the National Chairman of APGA and to stop recognizing Victor Ike Oye as the National Chairman of the party.
However, APGA, in a statement by its Chairman in Imo State, John Iwuala, while clarifying the outcome of court proceedings in the matter between Oye and Njoku held Friday, said Njoku breached part rules by appearing in court with a new lawyer.
“Trouble started in the court when he, (Edozie Njoku) in his usual way brought a lawyer for APGA as against the National legal adviser of the party, Sly Ezenwoke Esq. The question now is: who is to represent APGA as lawyer among the duo? he asked.
“After series of deliberations, the court later asked both lawyers to file briefs and decided to pronounce the authentic lawyer at the end of the matter on judgement. This decision did not go down well with Dr Oye and APGA, hence they approached the court of Appeal.
“On Friday, 17 Sept. 202, the Court of Appeal, Abuja Division directed that the matter be sent back to the Federal High Court for continuation. There is nothing beyond this.
“The court of Appeal has every right to invoke the authorities of Order 47 of the court of Appeal Act to assume jurisdiction as the court of first instance but didn’t want to do so as the substance of the case has already been dealt with by three appeal court judgements via Kano, Awka and Enugu respectively.
“It baffled the leadership of APGA Imo State Chapter how these fake news peddlers behave in a myopic way of feeding the public with fake news. This calls for a cry of reasoning and ecology of reasonableness.
“It must be recalled that this matter emanated from Bauchi State, where the plaintiff and his co-travellers went for “forum shopping’ to deceive the judge who on sighting danger that both plaintiff and defendant are same persons, sponsored by the same person, just trying to mislead the court, washed his hands off from it, the case was transferred to Abuja and Dr Victor Ike Oye was notified of the ongoing matter. What they specialize in is to sue, bring their lawyer and bring a lawyer for the defendant without the knowledge of the defendant until judgement is secured. That was what they did in Jigawa. Though the court of Appeal Kano division has set it aside and declared *Dr Oye as the duly elected and authentic National Chairman of APGA in a well organized and INEC monitored National Convention held on 31st May 2019.
“With the return of this matter to the High Court yesterday (Friday) from the court of Appeal Abuja, the matter is as good as dead as the High court lacks jurisdiction to hear any matter of which substance has already been heard and finally determined by the Court of Appeal. This one, three appeal court judgements in favour of Dr Oye including the award of N10m against Edozie Njoku for disturbing APGA and the courts of the land.
“I am seeing another N10m award against him soon. I wish with this, the reading public, especially our Anambra indigenes resident here in Imo State can remain calm and unperturbed over the fake news.
“We all know the pains you pass through when this fake, fabricated and malicious news came up as it has to do with the emergence of Prof Chukwuma Soludo as the next Governor of Anambra State, come November 2021”.
APGA accused political jobbers of peddling the fake viral news to mislead the reading public as part of their failed strategies to truncate the party’s chances for the November 6 gubernatorial election in Anambra state.
Nigerian health workers issue fresh strike notice, lists demands
The Joint Health Sector Unions (JOHESU) and Assembly of Healthcare Professional Associations (AHPA) have issued a fresh notice of industrial action.
The notice confirms negotiations with the government is still ongoing as the recent strike notice expired the night of September 17.
JOHESU Acting General Secretary, Matthew Ajorutu, said an Expanded National Executive Council (NEC) emergency meeting of the unions was held on Friday.
In attendance were the Presidents and General Secretaries of affiliate unions and professional associations, NEC members of affiliate unions and JOHESU Chairmen and Secretaries at the state and branch levels.
The session appraised the reports of JOHESU negotiation and conciliation meetings with the federal government since the declaration of the trade dispute through the 15 days strike notice issued on September 2.
Ajorutu noted that NEC discussed the appeal by President Muhammadu Buhari on the need to show understanding with his administration and the pledge to pay any debt owed to health workers.
The scribe disclosed NEC received and examined reports of congresses held at various health facilities across the country on the mobilisation for the fresh strike notice starting September 18.
Ajorutu asked the Federal Ministry of Health to ensure speedy circularisation of all establishment and welfare matters as agreed during negotiation meetings.
The unions urged that the computation of the adjusted Consolidated Health Salary Structure (CONHESS) for JOHESU members be completed and submitted to FG’s High-Level Body (HLB) not later than September 22, as agreed.
”NEC-in-session urges the Federal Government to ensure that the High-Level Body (HLB) completes and submits the computation of the adjusted CONHESS for inclusion in the 2022 budget within the Sept. 30th, submission window.
”NEC urges the Federal Government to reciprocate the patriotic humanitarian gesture of JOHESU in the interest of the larger Nigerian masses to expeditiously resolve all the demands within the fifteen days window”, the joint statement added.
Music1 year ago
Jay Famous – Forgiveness
Music3 years ago
News6 months ago
10 things you need to know today Monday 29/03/2021
Music5 months ago
Former Bad Boy Rapper, Black Rob is dead
News1 year ago
Diezani must face N17.6bn money laundering charges – Court
News6 months ago
2021 WASSCE will not hold in May/June – WAEC
Education3 years ago
What candidates with issues of biometrics should do
Hottest Gist3 months ago
COALITION OF CONCERNED IRU – VICTORIA ISLAND RESIDENTS