Energy

Oyo will soon commence generation, distribution of electricity – Makinde

By Web News 1030

By Iyabo Adebisi

Governor Seyi Makinde of Oyo state has promised to work assiduously to ensure that the state emerges first to attain energy sufficiency in the country.

He said this during the commissioning of an electrification project in Olorunda Ogunsola Idi-Obi and environs in Ona-Ara Local Government Area facilitated by Chief Dotun Sanusi to complement efforts of the state government 

Governor Makinde said Oyo state would soon commence the generation and distribution of electricity for the benefit of the people with the recent legislation to regulate electricity supply across the country,

While lauding the support of Chief Dotun Sanusi in facilitating the project, Governor Makinde said the Ibadan Electricity Distribution Company (IBEDC) must ensure a discount in its billing of the people to compensate for the donated facilities.

Earlier, the facilitator of the 500 and 300 KVA transformers as well as other electrical facilities, Chief Dotun Sanusi affirmed that the motivation for the project is inspired by the exploit of the Governor in lifting the bar of governance in Oyo state. 

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Energy

Okonjo-Iweala Recalls Nasty Experience with Vicious Fuel Subsidy Cabal (Video)

By Web News 1609

This isn’t the first time the idea of petrol subsidy removal would be mooted. The Jonathan administration under which the incumbent Director General of the World Trade Organization, WTO, Dr Ngozi Okonjo-Iweala, served as Minister of Finance and Coordinating Minister of the Economy also had its fair share of mention in the saga. In fact, former President Jonathan said at that time severally that fuel subsidy was unsustainable and tried unsuccessfully to remove it.

In a video that went viral last week, Okonjo-Iweala is seen narrating how she spearheaded efforts to scrap payment of questionable subsidies and how beneficiaries viciously fought back, culminating in her mother’s kidnapping and demand for her resignation.

“My second example has to do with a very specific one in my country, the clean-up of the fuel scarcity regime in 2012 during my second stay as Finance Minister”, she narrates in the video.

“Nigeria has a physically challenging force of fuel regime, the country exports crude oil and imports fuel because their refineries are in a very bad shape and provides a subsidy for the refined oil as support.

“At the end of 2011, a total of N1.73tr, US $11b equivalent, was submitted as claims for subsidy by 143 marketers, who were importing the product.

“These numbers seemed horrendously large compared to what I had last when I was in government in 2006, which was close to $2b in subsidy.

“So, we decided to study these claims. We audited about $8.4b worth of claims and we found out $2.5b worth of fraud. That is, many of these marketers were trying to claim $2.5b fraudulently.

“With the full backing of the President and the Economic Team, we decided that we were not going to entertain these claims or to pay.

“The pressure from affected marketers was tremendous…not only to say we would not pay but also to say we would clean up the whole mechanism for the subsidy claims and put in place something more transparent, something clearer.

“This did not go down well with them. “When we insisted on our position of non-payment and implementation of the new verification regime, these, and well-connected interests, were angered, and came to blame me personally for this. “There were personal consequences. My 83-year-old mother, a retired professor of sociology, was kidnapped by four young men and held for five days.

“She was totally terrified. She asked them why she had been kidnapped and they told her ‘Because your daughter, the Finance Minister, refused to pay oil marketers their dues’.

“The kidnappers, negotiating with my brother, demanded my resignation, publicly; that I should go on television, publicly and announce my resignation and depart from the country as a condition for my mother’s release.

“Needless to say these were some of the worst days of my life. Imagine when you are in a position, you want your parents, all of whom are here with you today, and your relatives to be proud of you. You want to be a source of good for your family.

“You can imagine how I felt, sitting there and thinking, just because of trying to do something right. To implement a policy that was good for the country, to lead to the taking of my mother’s life. These were some of the worst days of my life.

Watch video

Vanguard/Simeon Ugbodovon

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Energy

Petrol price will eventually drop- NNPC

By Web News 1090

The Group Chief Executive Officer, Nigerian National Petroleum Company Limited, NNPC, Mele Kyari, on Thursday, allayed the fear of Nigerians on the rising prices of Premium Motor Spirit, known better as petrol across the country.

The NNPC boss said competition among major players in the oil sector would force down the price of petrol as against the upward trends that have caused panic in the country.

Queues returned to fuel stations across the country following the recent increase in the petrol pump price occasioned by the discontinuance of petroleum subsidy.

Earlier on Wednesday, the NNPC said it had adjusted the pump price of petrol to reflect the market realities. The agency, however, failed to state the new prices of petrol.

However, several retail outlets sold the product between 600 and N800 in Lagos, Abuja, Ogun and some other states.

Also, talks between the Federal Government and organised labour over the removal of fuel subsidy ended in a deadlock on Wednesday as they failed to reach a consensus following the hike in petrol pump prices to over N700 from N195 per litre by oil marketers.

Speaking on Thursday in an interview on Arise TV’s Morning Show, Kyari said the removal of subsidy would allow new entrants into the market, a move he said, would aid competition and phased out monopoly.

This, he claimed, would ensure healthy competition which would ultimately lead to a downward review of pump prices of petroleum across the country.

He said, “The beauty of this (subsidy removal) is that there will be new entrants (into the market) because oil marketing companies’ reluctance to come into the market all along is the very fact of the subsidy regime that is in place.

“And that subsidy regime doesn’t have a guarantee of repayment back to the those who provide the product at subsidise price and now that the market is being regulated, oil marketing companies can actually import product or even if it is produced locally, they can buy and take it into the market and sell it at its retail price.

Therefore, you will see competition, even with NNPC. And by the way, by law, NNPC cannot do more than 30 per cent of the market going forward. As soon as the market stabilises, oil marketing companies are able to come in…

“Competition will definitely come in and the market will regulate the prices itself. Therefore, this is just an instantaneous price and within a week or two, you will continue to see different prices because of different approaches from major players, companies have different approaches to it and competition will guide that. Ultimately, you’d see changes downwards and it is very likely because efficiency will come in.

“As soon as competition comes in, people will become more efficient in their depots, in managing their trucks and in managing their fuel stations so that people can come to their stations. And it is showing already, right now, you will see motorists going to stations where they can have price differences, so this will regulate the market and on its own, the price will come down naturally and I don’t see any doubt about this.”

On why fuel stations hiked their pump price when they still have in stock already subsidised products, the NNPL boss said “This is the reality of the market. It applies to every commodity and not just petroleum.”

He added, “It could have been the other way round, prices could have collapsed downwards and those holding the old stock will have to sell at lower prices to arrive at market condition.

“It is not something serious or strange, this is a stock management issue and it is very typical, no one can do anything different about this.

“The prices we are seeing today at our station are the current price of the commodity. This means that prices in the market can go down at any time and of course, the market will adjust itself.”

Punch / Titilayo Kupoliyi

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Energy

NNPCL Releases New Petroleum Pump Price

By Web News 1484

The Nigerian National Petroleum Ccompany Limited (NNPCL) has jerked up pump prices of petrol (PMS) by over 200 per cent bringing the price of fuel to between N488 and N557 per litre.
A new pricing template purportedly sent to marketers by the NNPCL management to oil marketers late yesterday, a copy of which was obtained by newsmen, directed that the new price adjustment come into effect from today.

From the new price template, Lagos State has the least price of N488 per litre while Maiduguri and Damaturu have the highest pump prices of N577 per litre.

The new NNPCL price template is applicable only to NNPCL retail outlets.

See the template below:

Thenationonline/Oluwayemisi Owonikoko

Energy

Pump Price: Motorists Appeal to Government to Address Situation

By Web News 581

By Rotimi Famakin

The Federal and State governments have been told to take urgent step that would put an end to the exploitation perpetrated by fuel marketers in the country.

Some motorists in Ibadan stated this while speaking with Radio Nigeria on their experience in getting premium motor spirit otherwise known as petrol.

The motorists including Ayobami Isreal, Oluwaferanmi Adekunle and Ogunsuji Adegoke said they were yet to get the product despite their early arrival to the filling station they noted that, the fuel marketers were being unfair saying the subsidy for the current product at their disposal had been paid by the government as the removal of the subsidy commences in June.

They explained that, the marketers should be sanctioned for failing to sell at the stipulated pump price.

Our correspondent gathered that, aside major marketers that sell the product for N195 naira per litre, independent marketers sell the product at varying price of N330, N350, N370 and N420 per litre. 

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Energy

Do not engage in panic buying – IPMAN

By Web News 333

The Independent Petroleum Marketers Association of Nigeria, IPMAN, urged Nigerians not to engage in panic buying, saying that petrol is sufficiently available in the country.

IPMAN National Public Relations Officer, Yakubu Suleiman said this on a Television programme on Wednesday.

Suleiman said the deregulation of the oil sector and subsidy removal is the only way to make Nigeria great.

“IPMAN’s position is that the Independent Petroleum Marketers Association of Nigeria (IPMAN) is supporting or has supported the deregulation of the industry,”

“Removing subsidy is the only answer to make Nigeria great because there is no country that can survive without deregulating the economy.”

Suleiman commended President Bola Tinubu for removing subsidy removal in his inaugural speech.

“We really applaud Mr President for having the courage to announce the removal of subsidy,” he stated.

Suleiman said Tinubu was only informing Nigerians that there is no more subsidy, noting that the administration of former President Muhammadu Buhari has announced subsidy removal by not making provision for it beyond June 2023 in the budget for this year.

He maintained that though discussions with stakeholders are important, the way to go is subsidy removal.

The IPMAN spokesman urged Nigerians not to engage in panic buying as Premium Motor Spirit also known as petrol is sufficiently available in the country at the moment.

Culled / Titilayo Kupoliyi

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Energy

Tinubu has not removed subsidy – Keyamo

By Web News 575

The Chief Spokesman for the All Progressives Congress Presidential Campaign, Festus Keyamo, has said President Bola Tinubu did not remove fuel subsidy.

According to him, a section of the media is “mischievously twisting the narrative to read that Tinubu’s government has removed subsidy,” despite President Tinubu proclaiming that subsidy was gone while giving his inaugural speech on May 29.

Keyamo, who is also a former Minister of State for Labour, rather said that Tinubu’s administration only inherited a regime where there was no provision for subsidy in the 2023 Appropriation Act beginning June 2023 and the Petroleum Industry Act, which is now extant, has no provision for subsidy.

In a series of tweets on his official handle, @fkeyamo, he said, “A section of the Press is mischievously twisting the narrative to read that Tinubu’s government has removed subsidy. That is not correct. Tinubu’s govt has merely inherited a regime where there was no provision for subsidy in the 2023 Appropriation Act as of June 2023 and the Petroleum Industry Act which is now extant has no provision for subsidy.

 “President Tinubu merely acknowledged this state of affairs in his inaugural speech at the Eagle Square.

“So, any advocate of subsidy should convince the Nigerian people why President Tinubu should start on a note of illegality by promising to reintroduce something which the law has taken away. They should also convince the Nigerian people why President Tinubu should embark on a present illegality that gulped $10 billion of our scarce or unavailable resources in 2022 alone.”

He added that those claiming to defend the rights or welfare of workers should convince the Nigerian people that the $10 billion injected into the economy annually will not jumpstart the economy enough to create massive jobs and even increase the same minimum wage they complain about.

Punch/ Oluwayemisi Owonikoko

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Energy

Ekiti IPMAN Goes Tough on Filling Stations

By Web News 500

By Kazeem Ayodeji

Independent Petroleum Marketers Association of Nigeria, IPMAN, in Ekiti state have assured the state government that all filling stations in the state will open and start selling fuel at reasonable prices to the people.

They gave the assurance in Ado Ekiti a during meeting with Governor Biodun Oyebanji, following sudden hoarding and hike in the price of fuel by filling stations.

The spokesperson for IPMAN in Ekiti state, Mr Adeyinka Shodowo said executive members of the association and that of other related bodies would embark on a tour of filling stations to ensure that anyone that has more than 3000 litres in their storage tanks was dispensing fuel to the people.

Acknowledging that removal of subsidy is in the best interest of the country, Mr Shodowo explained that they would not allow any station to sell above 250 per litre so as not to inflict unnecessary hardship on the people.

Responding, governor Biodun Oyebanji frowned at the marketers for trying to sell their old product at new price rate for people when the government had not increased the official pump price of the product, Saying what they bought is what they should sell to the people.

He expressed displeasure that the artificial fuel scarcity they created had negatively impacted on the people of the state.

Mr Oyebanji consequently ordered the state petroleum task force to shut down any filling station that refused to dispense, adding that defaulting filling stations will remain shut till the end of this year.

The meeting had in attendance, the state’s executive members of the Independent Petroleum Marketers Association of Nigeria, IPMAN,  Nigeria Union of Petroleum and Natural Gas Workers NUPENG, Ekiti State Special Petroleum Intervention Taskforce among others.

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Energy

Avoid hoarding petroleum products – Gov. Oyebanji warns Marketers

By Web News 564

By Ogunrinde Amos

Following the scarcity of petrol and long queues at filling stations in Ekiti State, Governor Biodun Oyebanji, has cautioned marketers in the state against hoarding petroleum products.

The governor in a statement by his Special Adviser on Media, Mr. Yinka Oyebode, pleaded with the marketers to await further directives on the implementation of the planned subsidy removal by the federal government.

He implored them to avoid actions capable of inflicting hardship on the citizens.

To this end, Governor Oyebanji has summoned the leadership of the National Union of Petroleum and Natural Gas Workers, NUPENG, to a meeting in his office later on Tuesday.

According to the governor, heavy sanctions await any filling station or marketer found hoarding petroleum products or involved in arbitrary increases and other sharp practices in the state.

The Governor urged the citizens of the state to go about their daily activities peacefully and avoid any rancorous situation.

President Bola Tinubu had during his inaugural speech on Monday said that his administration would remove fuel subsidy.

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Energy

Long Queues Surface at Fuel Stations in Ibadan, Other Cities

By Web News 543

By Tawakalit Ibrahim/Adenitan Akinola/ Olajumoke Idowu

Some filling stations within Ibadan metropolis have started experiencing long queues of humans and vehicles. 

Radio Nigeria Premier FM reporter, who monitored the situation, observed that some of the filling stations around Apete, Sango, Mokola, Idi-Ishin Jericho, Akobo, Apata and Molete now witnessed the heavy presence of both commercial and private motorists. 

While wondering what could be the cause of the sudden queues, some of the motorists who did not want their names mentioned suggested that the development could be a result of the remarks from the Inaugural Speech of President Bola Tinubu on the removal of fuel Subsidy.

The motorists lamented that they woke to the increase in pump price from the official rate if 180 Naira per litre to between 240 to 270 Naira per litre this morning.

Our Correspondent gathered that while some stations sold the product, others shut their gate against customers, and this made many people abandon their vehicles at the stations.

Petrol attendants in some of the stations who spoke with Radio Nigeria could not give any reason for the development, noting that they only work with directives.

Efforts to speak with the Nigeria Midstream and Downstream Petroleum Regulatory Authority and the Independent Petroleum Marketers Association of Nigeria IPMAN on the issue were to no avail.

Osun State

The case is not different as queues have resurfaced at many fuel stations across Osogbo, the Osun State Capital.

Radio Nigeria Correspondent who went around some locations in the town said there were long queues in a few petrol stations dispensing fuel.

At the stations dispensing fuel along OgoOluwa, Dada Estate, Ring Road and Ikirun Road, pump prices have suddenly increased between 250 naira and 300 hundred naira. 

Some of the motorists who spoke to Radio Nigeria including Mr Duro Later and Hakeem Abolude attributed the development to panic buying.

Some motorists accused some marketers of deliberately hoarding petrol to sell it at exorbitant prices.

They called on the State government to protect the people from shylock businessmen.

Ogun State

Similarly, long queue of vehicles disrupted the free flow of traffic today on major roads in Abeokuta, the Ogun state capital as work resumes after the public holiday declared by the federal government in commemoration of the inauguration of a new administration in the country.

Some residents who spoke with Radio Nigeria attributed the long queues to panic buying of premium motor spirit, also known as petrol, sequel to the announcement by President Bola Tinubu to remove fuel subsidy.

Apart from the filling stations with long queues, many petrol station operators did not sell the product to customers, while some marketers increased their prices from 185 naira per litre to sell for between 250 and 300 naira per litre.

A commercial driver, Mr Akeem Olawale who lamented about the hoarding of fuel by operators, said the situation would lead to hike in transport fares and appealed to President Tinubu to avoid another round of economic torture on the people. 

Also, a business owner, Mrs Tolani Akinsanya said the removal of fuel subsidy would have a great impact on food items, stressing that there was need for the new government to tread with caution to ameliorate the suffering of Nigerians.

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Energy

Subsidy Removal: Petrol Pump Price Skyrockets

By Web News 1058

The downstream end of the Nigerian petroleum industry has gone into a frenzy as operators respond to the immediate removal of subsidy on petrol with a sharp hike in pump price just as consumers crowded to the petrol stations.

Commercial transporters have also hiked their trip fares across the country in response to the developments in his inaugural speech yesterday, the new president, Bola Tinubu, stated that “petroleum subsidy is gone”.

Checks by Newsmen in Lagos showed that some marketers responded by increasing their prices by about 100 per cent to N370 from N185 per litre.

However, few other stations especially the major marketers, sold between N195 and N220 per litre across Lagos and Abuja.
Our findings also showed that some of the petrol station operators simply shut their filling stations, thus leading to the emergence of long queues.

This is even as depot owners shut their operations, arguing that further clarification was needed to guide activities on the implementation of the new order.

In Abuja, long queues re-emerged at petrol stations as motorists reacted to the removal of subsidy on petrol.

The case is not different in Ibadan as most filling stations in the metropolis is under lock while there are queues in the few ones selling who sell between 250 naira and 300 naira per litre.

Meanwhile, commuters were seen stranded at various bus stops waiting to board commercial buses which may have been trapped in the frenzy that greeted the petrol subsidy removal.

Few of the buses that were on the road for business hiked the fares between 50 and 100 per cent over the fear of impending scarcity.
One of the motorists, wearing a long face, who spoke with this reporter at one of the fuel stations selling petrol, lamented, “Why would Tinubu start on this note to punish the already depressed, impoverished Nigerians inflicted by the out-gone administration of President Muhammadu Buhari.

“This is absolutely unfair to Nigerians. When I heard that Tinubu has directed the removal of oil subsidy, I had to rush down here to fill my tank and some jerry cans for my power generating set.”

Also, Mr John Akinloye, a motorist along the Agege area, said, “I was not surprised to see queues at the fuel stations after the announcement. I just pray this sad and unfortunate development will not last so as not to put suffering masses in another round of economic and mental torture.

“I have been at the fuel station for over an hour, and am yet to get to the fuel pump point. Even the fuel attendants are not willing to sell more than N3,000 per buyer. If you want to buy N4,000 they are refusing.” He said.

At Conoil and Adova Petroleum stations located in Karu area of the nation’s capital, long queues were observed with stations selling at N195 per litre.

At petrol stations operated by independent marketers, pump price was hiked to between N315 and N370 per litre with the topmost price range recorded in other parts of the country outside Lagos and Abuja.

The situation, it was gathered might worsen in the coming days as workers and business owners return to work today after the holiday was declared for the inauguration of the new president.

Culled/ Oluwayemisi Owonikoko

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Energy

IPMAN Kicks Against Tinubu’s Planned Fuel Subsidy Removal

By Web News 1386

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has opposed the plan by President Bola Tinubu to enforce his predecessor’s decision to remove fuel subsidy by June end.

Tinubu had earlier on Monday, in Abuja, affirmed that his administration would not continue to pay subsidy on petroleum products.

He said given the high opportunity cost the Federal Government was suffering to fund subsidies, it was no longer justifiable to continue.

“The fuel subsidy is gone!” Tinubu exclaimed during his inaugural address at Eagle Square, Abuja, shortly after he was sworn in as the 16th President of Nigeria.

The President said “Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investment in public infrastructure, education, health care, and jobs that will materially improve the lives of millions.

“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor.”

Tinubu said since there was no provision for subsidy in the budget from June 2023, it stands removed.

However, reacting on Monday, IPMAN said it was opposed to the new president’s subsidy removal plan

The National Public Relations Officer, Independent Petroleum Marketers Association of Nigeria, Chief Ukadike Chinedu, said the new government should dialogue with marketers before taking the decision to remove subsidy.

“We are not in support of the removal of fuel subsidy at this time. We have said it repeatedly that our refineries should be fixed before taking such a decision that will cause galloping inflation and inflict more hardship on the masses.

“The government of President Tinubu should not adopt what is in the transition document handed over to it by the administration of former President Muhammadu Buhari. Someone (Buhari) who for eight years did not remove subsidy is advising a new government to remove it.

“That is not fair and should not be adopted. Rather the new government should sit and discuss with marketers and other stakeholders on how to manage the fuel subsidy regime. We now have the Dangote Refinery, but all our refineries are still not working, so we don’t think removing subsidy is the right thing to do now,” Ukadike stated.

He said IPMAN was ready to work with the new government and would proffer measures to address the fuel subsidy regime, instead of effecting an outright halt in subsidy.

Punch/ Oluwayemisi Owonikoko

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Energy

Osun Govt Condemns Petrol Hoarding

By Web News 428

By Funmi Adekoya

Osun State government has condemned the deliberate action of petroleum marketers in hoarding the premium motor spirit, PMS, causing unnecessary hardship for the people in the State.

The deliberate hoarding of fuel is sequel to the statement from the inaugural Speech of President Bola Ahmed Tinubu on the removal of fuel subsidies.

The government in a statement by the Governor’s Spokesperson, Mallam Olawale Rasheed describes the action as inhumane and unpatriotic and will not be allowed by the government.

The statement indicates that the Special Monitoring Team on fuel scarcity set up by Governor Ademola Adeleke headed by the Chief of Staff, Alhaji Kazeem Akinleye shall begin a special monitoring of all the filling stations across the State in collaboration with law enforcement agencies and other stakeholders.

The statement warns that any fuel station found guilty of hoarding fuel to create artificial scarcity shall be sealed off and operators prosecuted for the crime of economic sabotage.

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Energy

Oyo Unveils Gas Distribution Master Plan

By Web News 416

By Iyabo Adebisi

Oyo State Governor, Engineer Seyi Makinde has unveiled a newly conceived gas distribution master plan in partnership with Shell Nigeria gas to create a platform for constant gas supply to the state. 

He said the plan was poised to boost industrialization and generate employment opportunities. 

Unveiling the gas master plan at the courtesy room of the Governor’s office, Governor Makinde said the innovation would serve as catalyst to springboard most of his administration’s policy thrust in his “Omituntun 2.0” 

Governor Makinde stated that the development would not only increase numbers of industries in the state but engage most jobless especially with the recent London summit organized by the state to woo investors 

The Manager of Shell Gas Nigeria Ed Ubong hinted that the plan would commence operation from the first quarters of next year. 

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Energy

PENGASSAN Warns on PIA Implementation

By Web News 462

The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has warned the Federal Government against selective implementation of the Petroleum Industry Act 2021.

The President of PENGASSAN, Comrade Festus Osifo who gave the warning at the 7th triennial national delegates conference in Abuja, said the government must set up the host communities development funds immediately.

Osifo observed that the full implementation of the provisions of the PIA will further deepen the development of the midstream sector of the Nigerian oil and gas industry.

He, therefore, urged the incoming government to aggressively implement the Act for the benefit of the country.

Comrade Osifo who expressed satisfaction at the ongoing rehabilitation of Nigeria’s three refineries, commended the Group CEO of NNPC Limited, Mr. Mele Kayri for the bold steps toward a workable approach to bringing back on-stream the ailing refineries.

He said: “We will also continue to advocate for the adoption of the NLNG model in the running of the nation’s four Refineries when fully revamped and the creation of an enabling environment for the establishment and operation of modular and private refineries.

“We are happy that the current NNPC management is favourably disposed to such. With the Dangote refinery, there will be a significant impact on the fuel supply dynamics, including easing pressure on the economy, especially when combined with the ongoing revamping of the three refineries in the country”.

The PENGASSAN president expressed dissatisfaction over Nigeria’s rising debt level.

 “This is quite alarming mostly when you compare the cost of servicing this debt to the revenue generated by the government per annum”, he added.

He stated that while the oil workers were not against the government taking loans, he stressed that borrowed funds should not be used for consumption but rather channeled into productive ventures and infrastructure development.

Vanguard/ Oluwayemisi Owonikoko

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Energy

Persistent Petrol Scarcity Fuels Concern in Ibadan

By Web News 572

Residents of Ibadan have called for the availability of premium motor spirit, PMS, known as petrol to ease their suffering.

They made the call while speaking with Radio Nigeria correspondent who monitored the fuel situation in the state capital.

The residents, who frowned at the frustration in getting PMS, said Federal Government had neglected its responsibility in making provisions for the well-being of its citizens, as the scarcity persists every day without solutions. 

Some residents, who lamented several hours spent in the queue despite the hike in the price of petrol, appealed to the Federal Government to urgently address the situation.  

“There is no fuel anywhere; the fuel is very scarce, that is why people are rushing it even though we are buying it at #320 per litre because we can’t just get it anywhere”. Another resident said, “If it increases to 500 naira per litre we would still buy because there is nothing we can do, we have no power “.

Also,” I don’t know for how long we would be on queue for fuel if they would increase the fuel let us know so that everyone of us will buy at the correct price because all this on and off is unacceptable”.

Corroborating, some commercial motorists and Okada riders recounted their ordeals as fuel price was skyrocketing on daily basis, and had affected their sales.

“They are selling 300 naira per litre. It is only one or two places that they are selling it at that rate as at yesterday, but today, some filling stations have opened but sells above 270 naira per litre. Customers will bear the pain because it’s not easy to be getting money.”

An Okada rider, Moses Emeka on his part said, “people are not flagging down bikes because of what we are facing, both the petrol station and passengers are frustrating us.”

Saheed Babalola also said, “We are getting the fuel for 320 naira per litre even though we stay on the queue to get it, Government is not fair to us”

Speaking, a manager of one of the independent filling stations, who did not want his name to be mentioned, said the persistent long queue at his filling station was because it was being sold at a lesser price of 270 naira per litre.

“Other stations sell for 320 per litre but we sell ours for 270 naira per litre. That’s why the queue is much.  For 3 days now, we have been selling kegs and the people will still be making noise and damaging our nozzle”.

Our Correspondent observed that most filling stations in the metropolis locked their gates while a few that had the fuel sold between 295 and 350 naira per liter, with a long queue.

In the meantime, the persistent fuel scarcity has caused disruption of the free flow of traffic in areas where the major filling stations are cited whether the product was available or not as motorists queue indiscriminately on the road.

Olukemi Akintunde

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Energy

Frustrations, Lamentations as Fuel Scarcity Bites Harder

By Web News 431

Residents of Ibadan have expressed disappointment and frustration over the persistent fuel scarcity in the metropolis.

A visit by Radio Nigeria correspondent to some filling stations in the metropolis revealed that most of them were not dispensing the product while those that have the product sell it between two hundred and fifty naira and three hundred naira per litre. 

The fuel scarcity, which started last year in November, has seen many motorists queue at the filling station as early as 6 o clock in the morning, making them lose many work hours.

 Two motorists, Agbele Olalekan and Deji Oyetunde, who were visibly stressed due to the long waits at a popular private station, condemned most of the filling stations for creating artificial scarcity to exploit people.

In the meantime, the persistent fuel scarcity has continued to cause disruption of the free flow of traffic around where the product was available and being dispensed as motorists queue indiscriminately on the road.

One of the major marketers, who spoke on the condition of anonymity, described the persistently long queue at his filling station as unbearable.

However, the Chairman, Independent Petroleum Marketers Association of Nigeria, IPMAN, covering Oyo and Osun states, Bukola Mutiu said Federal Government has approved one hundred and eighty-five naira per litre for premium motor spirit, also known as petrol which was formerly pegged at one hundred and sixty-five naira per litre, saying eighty per cent of filling stations in Oyo State are independent.

Alhaji Mutiu, however, reiterated that the inability of the Federal Government to supply the product to depots had compelled their members to buy from the private depots in Lagos and Warri, Delta states, far above government-approved prices.

Olukemi Akintunde

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Energy

NNPC Strikes Oil in Nasarawa

By Web News 470

The Nigerian National Petroleum Company Limited has announced the discovery of oil in Nasarawa State, saying it will spud the first oil well in March 2023.

It said the discovery was in continuation of its oil exploration activities in the country’s inland basins.

NNPC’s Group Chief Executive Officer, Mele Kyari, announced the discovery and the planned spud-in when the Governor of the state, Abdullahi Sule, led a delegation of prominent indigenes on a courtesy visit to Company’s offices in Abuja.

Mallam Kyari, in a statement issued in Abuja by the corporation’s spokesperson, Garba-Deen Mohammad, said the results of exploratory activities confirmed the presence of substantial hydrocarbon resources in the state.

He called for “prompt action” on the project as the global energy transition had led to a reduction in investment in fossil fuels.

“This work must be done very fast because the whole world is walking away from fossil fuel due to energy transition, the earlier you go to market, the better for you,” Mallam Kyari stated.

He added: “Otherwise, 10 years from now, no one will agree to put money in the petroleum business except it comes from your cash flow.”

He said community support and a conducive environment were key to a successful operation in the area, in order to avoid the experience of the Niger Delta.

In his response, Governor Sule of Nasarawa State congratulated the NNPC boss on the successful commencement of oil production and the Kolmani Integrated Development Project, which was inaugurated in November last year by President Muhammadu Buhari.

He also applauded the President for his support and assured NNPC of a “conducive environment”.

Abdullahi Lamino

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Energy

Man Dies While Queuing to Purchase Fuel

By Web News 1238

A man presumed to be in his 50s has been feared dead while queuing to buy petrol at a filling station in Oluyole Estate.

The man, whose identity is unknown, suspected to be an Alhaji was sitting on his steering with one leg on the pedal and the other on the ground with his door open.

Narrating the incident, the manager of the station, Mr Joseph said other customers in the queue were calling on the man to move his car when they realized that he was not responding.

Mr Joseph said the case was reported to the police, and his body was taken away.

The man’s car with the Number plate AKD 878GP was still at the Filling station at the time of filing in this report.

Blessing Okhare

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Energy

Buhari Reaffirms 30 Gigawatts Energy Target

By Web News 521

President Muhammadu Buhari has restated the determination of the Nigerian Government towards achieving the vision of 30 Gigawatts of energy by the year 2030.

The President said this in Washington during the discussion panel on Just Energy Transition at the ongoing US-Africa Leaders Summit. 

President Buhari said as part of the National Renewable Energy and Energy Efficiency Policy, Nigeria set the vision 30:30:30, which aims at achieving 30 GW of electricity at that target period, with renewable energy contributing 30 percent of the energy mix. 

He explained that last year, Nigeria became the first African country to develop a detailed Energy Transition Plan to tackle both energy poverty and climate change, and deliver SDG7 by 2030 and net zero by 2060.

“Our Federal Executive Council approved the plan earlier this year and adopted it as a national policy. As part of the plan, we intend to completely eliminate the use of petrol/diesel generators by 2060 and therefore need to deploy renewables, particularly solar, at an unprecedented scale. For instance, the Energy Transition Plan requires that 5.3 GW of Solar be deployed annually until 2060 to achieve our targets.”

The President stressed that Nigeria had embarked on several reforms, one of the best in Africa, on mini-grid regulations, as well as the integration of renewable energy into the national grid.

He said the aggressive power sector reforms had resulted in cost-reflective tariffs in the power sector for the first time since privatization. 

The President told the summit that under the Nigeria Electrification Project, over 4 million people had been impacted through solar mini-grids and solar stand-alone systems. 

With respect to hydro, the President said the Zungeru hydropower Project was nearing completion and will add an additional 700 mw capacity to the grid. 

While stressing the resources that the administration has committed towards the realization of the vision, President Buhari called for considerable financial and technical support to achieve the goals.  

“For instance, our analysis shows that delivering the Energy Transition Plan requires $1.9 trillion in spending up to 2060, including $410 billion above business-as-usual spending. This additional financing requirement translates to a $10 billion investment needed per annum. Between 2000 and 2020, just $3 billion per year was invested in renewable energy in the whole of Africa.

President Buhari also called on US businessmen and the global community to tap into the innovation and potential returns in Nigeria’s enormous market, which is yet to be fully optimized.

Abdulla Bello

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Energy

Fuel Scarcity: Residents of Ibadan Decry NMDPRA’s Attitude

By Web News 825

Residents of Ibadan have condemned the negative attitude of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) as the scarcity of premium motor spirit known as petrol bites harder.

They made their displeasure known in Ibadan while speaking with a Radio Nigeria correspondent who monitored the situation in Ibadan, the state capital. 

The Residents lamented the hardship being faced in buying the product, saying the NMDPRA had failed to perform optimally as Nigerians were facing a lot of difficulties to get fuel. 

“Buying petrol has become a tug of war as we are struggling to get the product due to its scarcity and hike in the price of the product. 

“The authority that is supposed to be checking the filling stations’ excesses are not performing and need to be scrapped because we are surfing.”

Another resident said, “The hike in price in PMS by the marketers had affected transport fare and cost of food items and IPMAN  was lamenting the high cost of purchasing from the Private depot in Lagos and the authorities that to check the filling stations folded their arms“.

Some motorists who spoke with Radio Nigeria bare their minds on the situation. 

“The several hours spent in the queue  is too much because those filling  stations are exploiting us.” 

“Government needs to attend to the situation urgently because it is a big punishment.”

“I have been sleeping in the filling station that sells at One hundred and eighty naira per litre to enable me to take the children to school since I cannot afford to buy the black market ” 

Our correspondent reports that gridlocks were observed at most filling stations selling the product below two hundred naira per litre while the product price per litre at most Independent filling stations in Ibadan ranges from 250 to 300 naira and black market price ranges between Four hundred to five hundred naira per litre.

The black marketers displayed different jerrycans, calling the attention of vehicle owners for patronage. 

Efforts to speak with the Comptroller, Nigerian Upstream and Downstream Petroleum Regulatory Authority, Ibadan Field Office to react to the situation were unsuccessful as he was unavailable for comments when Radio Nigeria visited the office. 

Olukemi Akintunde 

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Energy

FG has no intention to increase fuel price – NMDPRA

By Web News 762

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says the Federal Government has no intention of increasing the price of Premium Motor Spirit (PMS) during the festive period.

The General Manager, Corporate Communications, NMDPRA, Mr Kimchi Apollo said this through an advisory which addressed speculations on the increase in price and availability of PMS

He said the Nigerian National Petroleum Corporation Limited (NNPCL) had imported PMS with current stock levels sufficient for 34 days.

“Consequently, marketers and the general public are advised to avoid panic buying, diversion of products and hoarding.

 Recall reports that the pump price of PMS is being sold currently between N178 and N180 per litre inside Abuja city centre while the outskirt retail stations dispense fuel between N200 to N250 per litre.

Mosope Kehinde 

Energy

Power Project: Ogun Residents Accuse Consultants of Irregularities

By Web News 754

Residents of two communities in Sagamu local government area of Ogun State have urged the federal and state governments to prevent the outbreak of violence by investigating the alleged unwholesome activities of consultants handling a proposed power project in the area. 

The residents while staging a peaceful protest in Sagamu claimed that the consultants were purportedly acting in the name of government to deprive them of their residential structures and farmlands. 

Radio Nigeria Correspondent reports that the Protesters from Alado and Dejuwogbo communities, carried placards with inscriptions such as “we are not selling our Property” Where is TCN in this Process” and “The Consultants are Cheats and Selfish” and thronged the venue for the payment of compensation for individuals whose property were reportedly marked for demolition to pave way for a Transmission Company of Nigeria, TCN project. 

The residents said they had to resolve to staging the protest due to the nonchalant attitude of the consultants to their numerous complaints about irregularities in the payment of compensation to property and farm owners affected by the proposed project. 

They highlighted the alleged sharp practices by the consultants to include irregularities in list of affected residents, undervaluation and overvaluation of properties, questioning the rationale behind the payment of six million naira to the owner of an uncompleted two bedroom building while one point five million naira was offered to the owner of a completed three- bedrooms with facility in the same vicinity.

Speaking on behalf of the residents, Mrs. Iperogbelu Rebecca and Mr. Oladosu Olawale said the lack of transparency in the transaction of those handling the compensation process had caused the residents to doubt the claims that the project was approved by the government. 

The residents expressed optimism that the intervention of relevant government’s agencies would help to clear the doubts and to prevent the breakdown of law and order in the affected communities.

Addressing the protesters, a representative of the firm handling the payment of compensation to the affected property owners, Mr. Bassey Uzodinma said the firm had taken the issue of underpayment of the affected people into record and would submit the report to the appropriate quarters, noting that the residents would be adequately compensated by the government.

Mr Uzodinma who blamed inflation and the COVID-19 pandemic for the delay in the payment of the compensation advised the people to ensure proper documentation of their complaints. 

Mr. Uzodinma maintained that the proposed federal Power line and Power station project of the Transmission Company of Nigeria  in the Alado and Dejuwogbo communities would be expected to commence after the payment of compensation to the affected property owners.

Wale Oluokun/Olaolu Fawole

Energy

Queue Easing as Fuel Situation Improves in Ibadan

By Web News 660

Long queues that resurfaced on Wednesday at filling stations in the Ibadan metropolis are fast disappearing.

Radio Nigeria correspondents who monitored the situation reported that a few vehicles were seen queuing up to buy petrol at stations dispensing the product 

A motorcyclist and a motorist, Mr Rasak Ayinla and Mr Yon Yon who relayed their experiences in the last two days said some of the petrol stations shut their gates to the public. 

Another resident, Mr Ganiyu Taofeek, lamented the hardship that the situation had caused him, noting, however, that the price of petrol had not changed as the few filling stations opened to the public sold at one hundred and eighty Naira per litre. 

The residents called on relevant authorities to be proactive in ensuring a regular and adequate supply of fuel across the country.

Olukemi Akintunde

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