Energy

Task Force Warns Osun Fuel Marketers Against Hoarding

By Web News 334

By Mojisola Oladele 

The Osun State Government Taskforce on Petroleum Price Monitoring has cautioned owners of petrol stations across the state against hoarding petroleum products to create artificial scarcity.

A statement by the Chairman of the Taskforce and the Chief of Staff to the State Governor, Mr. Kazeem Akinleye, noted that its surveillance across the state revealed that most filling stations are hoarding petrol products, thereby worsening the fuel supply situation.

Mr. Akinleye explained that the surveillance activities conducted in major towns and the state capital in the last three days had revealed  deliberate hoarding of fuel to create artificial scarcity.

The Chairman stressed that affected filling stations which are already listed as direct culprits have been directed to open up their tanks and dispense fuel to the members of the public.

Mr. Akinleye who urged marketers to be public spirited in their pricing of Petroleum products reminded them of the present harsh economic situation being experience by members of the public.

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Energy

Disregard alarm about increase in pump price of petrol – IPMAN

By Web News 373

By Uche Ndeke

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has advised members of the public to disregard the alarm and speculations about an increase in the pump price of Premium Motor Spirit otherwise known as fuel.

Chairman of IPMAN, Enugu Depot, Mr Chinedu Anyaso made the call in an interview with Radio Nigeria Correspondent Uche Ndeke.

He said the Nigeria National Petroleum Company Limited, NNPCL, being the sole importer of the product has not in any way informed marketers of price increase.

Mr Anyaso called on Nigerians to disregard the speculations in social media.

The IPMAN, Enugu Depot Chairman said contrary to media reports, the Port Harcourt refinery is yet to come on stream.

” There is no need for panic buying as there is enough product being made available to marketers at different depots by the NNPCL.

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Foreign

Kenyans Groan over Astronomic Rise in Fuel Prices

By Web News 423

The highest fuel prices in recent memory have been announced by Kenya’s regulator, to the fury of many in the country.

Overnight the cost of petrol rose to a record high of about 212 shillings ($1.40; £1.20) per litre in the capital Nairobi – with the prices of different types of fuel rising by about 9% to 20%.

The move comes despite countrywide protests in recent months against high living costs and the government’s economic policies.

It’s going to be “painful” and “it may not work”, said President William Ruto’s chief economic adviser David Ndii on X (formerly Twitter), adding that he was not going to sell false hope to Kenyans.

Both Mr Ndii and the fuel prices have been trending topics on social media.

“[Mr] Ndii has told us the bitter truth that we are repugnant fools and stupid morons for having believed that people who used a wheelbarrow as a party symbol had any idea of fixing the country. It is our fault for believing them,” a Kenyan said on X.

“Matatus [public minivans] use diesel which is the means of transport for the poor, gone up by 21.32 shillings. The poor majority use kerosene, has gone up by 33.13 shillings…,” another said.

President Ruto removed fuel subsidies when he came into office last September.

BBC/Simeon Ugbodovon

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News

Security Agencies Wade into Fuel, Naira Crises

By Web News 656

By Rasheedah Makinde

As part of efforts to reduce challenges posed by the scarcity of fuel and new naira notes, the police in Oyo State have met with some stakeholders to find a lasting solution to the menace.

The security summit held at police headquarters, Eleyele comprises representatives of all security agencies, CBN officers, IPMAN and other security personnel.

Oyo state Commissioner for Police, Mr Adebowale Williams said the security summit became imperative as part of measures to reduce the crises caused by the non-availability of cash and fuel before they escalated to a bigger problem.

Mr Adebowale who said the duty of the Police was to enforce laws, peace, and arrest perpetrators of crime and prosecute them, noted that, the recent events in the country call for an extension of the cooperation and understanding being enjoyed in Oyo State to help improve upon the duties of protection of lives and property and as well as preserve law and order.

” Today, as a family we collectively have pressing issues at hand which undoubtedly needs our highest level of attention for consideration and action in order not to engulf our socio-economic existence of the Pacesetter State, top of which has been induced by the Scarcity Of Fuel & Paucity Of Cash For Dispense, hence the need for this strategically planned pally”.

“It is worthy to consider that while the Police and other Security agencies have the mandate to maintain law and order, “the public” her right to peaceful assembly, bankers and other law-abiding residents of the State reserve their rights to the dignity of their labour”.

“No one is allowed under the ambits of the law to deny another of his/her rights and conscious efforts must be made to prevent the societal disposition from becoming a “State of War for all and against all”.

He added that though people have the right to protest peacefully, there are times when people crossed certain lines, especially when given into agents of violence and anarchy to hijack the process for obvious reasons of criminally profiting from the situation and unknowingly handing these unscrupulous elements undeserving relevance.

” while appealing that we all exercise mutual respect and understanding for ourselves at these troubled times, it is important to re-iterate that attacks on Policemen and other law enforcement shall not be tolerated, especially when law enforcement has intelligence that the process is a “deliberate scripted strategy” by agents of mischief to provide misleading narratives on the social media space in order to unnecessarily heat-up the polity”

” In conclusion, let us all have a clear understanding that we are all Stakeholders in Oyo State. We must say no to agents of disintegration in our midst and continue maintaining our renowned reputation as a State with a relatively peaceful ambience. Remember we are always stronger together and whenever the need arises, don’t be a Stranger as “the Police remain your friend.”

On her part, the State Zonal Coordinator of the Central Bank of Nigeria, CBN, Mrs Foluke Oluduro said it was sad that people were facing a lot before they could have access to their money.

She noted that the CBN was doing all it could to reduce the hardship citizens are battling with every day. 

Mrs Oluduro who urged people to remain calm said the Apex Bank has re-strategised its plans to ensure more money is released to the public.

The Chief of Staff of Independent Petroleum Marketers of Nigeria, IPMAN, Ibadan depot, Mr Bayo Adeyemo said they have to rely on Lagos State depot before they could get petrol which has not been easy for them.

He said all the heads of IPMAN in Oyo state were in Lagos struggling to ensure the availability of premium motor spirit, PMS for members of the public 

On his part, the Oyo State Chairman of point of sales, POS, and operators, Mr Adeyemo Sherif said they use money commission to buy cash from bankers and this was why they charge their customers before they could give out money.

The POS operators, therefore, called on the banking industry to ease their pain by reducing the commissions they collect from them before they could dispense money.

The event was graced by representatives of other security agencies, the National Orientation Agency, Baba and Iya Loja, the Association of Okada riders, Artisans and the Police Community Relations Committee PCRC. 

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Transportation

Govt. Warns Against Fuel Hoarding

By Web News 532

By Funmi Adekoya

Osun State Government has warned against the diversion of Petrol, PMS, by some Oil marketers, warning that anyone caught to be hoarding fuel allocated to the state will face the wrath of the law.

The Chairman of the Petroleum Monitoring Committee of the state, Mr Kazeem Akinleye in a statement by Governor’s Spokesperson Mallam Rasheed Olawale noted that findings from the relevant agencies revealed that Osun state was allocated several tankers of PMS which are not reflected across filling stations in the state, an indication that diversion may have been happening.

Mr Akinleye, who is also the Chief of Staff to the Governor said the PMS Monitoring committee has contacted the relevant authorities and is aware of the actual PMS allocated to Osun state including the actual list of companies and stations, allocated those PMS.

He assured members of the public that the committee started its job by getting to the root of actual PMS allocation to the state, informing the public that the monitoring activities will expose those behind the current untold hardship being inflicted on the good people of Osun State.

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Politics

2023 Elections; Naira Notes & Fuel Palava

By Web News 594

By Olaitan Oye-Adeitan

It’s less than three weeks to the general elections in Nigeria with the presidential and national assembly elections coming up on the 25th of  February, 2023.

However, as the day approaches, Nigerians are still in the daily struggle to recover their purchasing and have easy access to fuel.

Despite the fact that the supreme court had ordered the Federal government to halt the ban on old naira notes, Nigerians are still queuing for money at the ATMs.

This has generated concerns among the people who are thinking the situation may affect the conduct of the forthcoming presidential and governorship elections on February 25 and March 11.

Reacting to the insinuation, Chairman Independent National Electoral Commission (INEC), Mahmood Yakubu, says the forthcoming elections will hold as planned.

Yakubu spoke in Abuja after a meeting with the Federal Executive Council (FEC) presided over by President Muhammadu Buhari.

  • INEC Chairman, Mahmood Yakubu

“I can tell you two of these challenges quickly. The first one is the availability of petroleum products. We had a meeting with the National Union of Road Transport Workers and they raised that as an issue of concern,” he said.

 “Immediately after that meeting, we interfaced with the leadership of the Nigerian National Petroleum Company Limited (NNPC) and right now there’s a technical community working.

“The idea is for them to avail us the use of their over 900 land mega stations as well as floating mega stations nationwide for the purpose of stocking products to ensure that the commission doesn’t suffer any encumbrances in the movement of personnel and materials for the elections.

The second one is the currency issue. Again, we had an engagement yesterday with the Governor of the Central Bank of Nigeria. And he assured us that the commission will not suffer encumbrances on that score. Fortunately for us, all our accounts, national and state are with the apex bank. So, we raised those challenges and we have found a solution to those challenges”. Yakubu said.

Already, INEC in Oyo State on Saturday conducted a  mock verification and accreditation exercise for residents of the state where the INEC Resident Electoral Commissioner in the state, Dr Adeniran Tella, also lent a voice to the fact that nothing would stop the elections from holding.

Oyo REC, Dr, Adeniran Tella

Dr Tella gave assurance that, with the commitment and synergy of stakeholders in the electoral process, INEC would deliver a credible, free and fair election in the coming polls.

It would be recalled that the collection of the PVC had ended on the 5th of February.

Economy

Protest: ATMs Deserted as Customers Flee for Safety

By Web News 1561

By Olaitan Oye-Adeitan

The long queues of customers who had waited endlessly at the ATM points for new naira notes had vanished following the protest that rocked some parts of Ibadan, Oyo State on Friday over lingering fuel and naira scarcity.

Customers had daily waited at the ATM points hoping to withdraw money but to no avail.

However many banks were deserted as customers left the ATM for their safety.

Only a few customers were however sighted waiting by the ATM with the hope that the machine could meet their long-awaited desire of cashing the new naira notes.

  • Hopeful Customers

Since the beginning of the week, bank customers had been besieging the Automated Teller Machines, ATM and had been keeping vigils or resuming as early as five O’clock in the morning for the withdrawal of new naira notes.

Politics

Makinde Suspends Campaign Over Fuel, Naira Crisis

By Web News 478

By Oluwakayode Banjo

The Oyo State governor, Engr Seyi Makinde, has announced the suspension of his campaign activities over the unending fuel and new naira-note crisis.

Governor Seyi Makinde, whose campaign trail has visited some parts of Oyo State, said this during the Flag-off of the Omi-Adio-Ido Road on Friday.

The Governor said the suspension is in solidarity with the people over anti-people economy policies of the All Progressives Congress, APC, led Federal Government.

A statement by the Commissioner for Information, Culture and Tourism, Dr Wasiu Olatubosun confirmed this.

In the statement, Makinde, who was in Ido to continue his campaign, directed that all campaign activities be suspended until further notice.

Dr Olatubosun said Governor Makinde notes that the suffering of his people is too much, saying he was elected to protect their interests and well-being.

He said, Governor Makinde, who flags off the Omi Adio-Ido Road in an emotionally laden voice, directed leaders of the Party in Oyo State to suspend the campaign.

“As a mark of honour to citizens and residents of Oyo State, the Executive Governor of Oyo State, Engr Seyi Makinde has direct that all campaign activities of the party at all levels be suspended until further notice”, the statement read.

He added, “Governor Seyi Makinde’s love for his people necessitated this unprecedented move, at this time. We urge all residents and citizens of the State to remain calm as we navigate through this difficult period together.”

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Economy

Raging Anger As Nigerians Protest Non-Availability of Fuel & Naira

By Web News 665 Post a comment

By Olaitan Oye-Adeitan

Nigerians are beginning to lose patience over their continued struggle at the filling stations and  Automated Teller Machines, ATM  with no availability of either fuel or the new naira notes.

Some aggrieved people who stormed the premises of Radio Nigeria Ibadan on Wednesday expressed bitterness that they could not get physical cash from the ATM despite their persistent queue at the machines while they also had to observe vigils at the filling stations.

Protesters Carrying Placards
Endless Scramble for Sparse New Notes as Hands Reject the Old

They also decried the situation whereby the ATM would only dispense two thousand naira out of their money and twenty thousand naira maximum depending on the bank.

President, Joint Human Rights Group in Oyo State, Mr Martin Omobude in this video said the masses could no longer bear the pains and called on government to review its economic policy to save the masses from suffering.

The CBN had earlier given January 31 as the deadline when the old naira note ceases to be a legal tender but later extended the date till February 10 following outcry and complaints from Nigerians.

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Economy

Different Strokes for Different Folks

By Web News 687

By Olaitan Oye- Adeitan

Nigerians appear to be biting more than they can chew now with the myriad of challenges daily being encountered.

Is it the lingering fuel crisis or the difficulty in accessing the new naira notes or collection of PVC?

Many people never envisaged that the fuel crisis which resurfaced in November, last year would spill over till the New Year, 2023.

The thought of many was that the problem would have been addressed before Christmas but lo and behold, events proved the contrary.

The picture became more glaring since the wake of the New Year when long queues, some abnormally long, resurfaced at filling stations, and to cap it all, with an astronomical hike in the fuel pump price.

As at December 2022, motorists bought fuel between the range of 200 and 220 naira, but in January 2023, the price spiked to between 350 and 400 naira per litre.

Citizens are baffled that, even the hike in the fuel price could not rid the filling stations of the excessively long queues and chaotic scenes, amidst frustrations and angst.

And when temper boils over, anger is most times let loose among motorists as they all struggle for the commodity, leading to fisticuffs.

So what could be wrong? The situation has become a repeated decimal, so long too long.

It is in the midst of this that the new naira note palava surfaced.

The Central Bank of Nigeria had announced last year that the new naira notes would be released into circulation in December 15, 2023, while emphasizing that the old notes would cease to be legal tender by January 31st 2023.

New Naira Notes

However, the hopes of many Nigerians were dashed as the banks did not dispense the much-expected new naira notes.

Less than a week to the deadline, the Apex bank and the commercial banks began to trade blame.

While the CBN insisted the banks did not come for the new notes, some banks claimed it was the CBN that had not released the money.

As of today, 26th January, customers have been besieging banks in Ibadan, Oyo State, besides the throng queuing at ATM points under the scorching sun for the new naira notes.

And the machines have been dispensing them, a departure from weeks back when the machines were dispensing the old notes, or were practically empty, leaving customers baffled.

Operators of Point of Service, POS were also found to be attending to customers giving old currency. Some of them claimed the banks were yet to give them the new notes.

Aside these are also the electorate confronted with the challenge of collecting their permanent voter cards, though some had no struggle having theirs.

It is just one month to the general elections, any solution in sight?

Energy

Man Dies While Queuing to Purchase Fuel

By Web News 1254

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

Queue Easing as Fuel Situation Improves in Ibadan

By Web News 673

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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Economy

Why FG cannot remove fuel subsidy now – Lai Mohammed

By Web News 448

The Minister of Information and Culture, Lai Mohammed, has said that Federal Government will not remove the fuel subsidies at the moment.

Mr Lai, who stated this on Monday in an exclusive interview with Reuters, said it is wrong to remove the subsidy at this time, as many other nations were introducing measures to help citizens cope with high oil energy prices.

He said Nigeria is Africa’s largest oil exporter, which still has to import almost all its fuel needs due to a lack of refining capacity.

The minister noted that the Federal Government scrapped plans to abolish fuel subsidies earlier this year, a move that raised concerns with the International Monetary Fund.

“When you consider the chaos, the social disharmony and … instability such an action (of abolishing subsidies) would facilitate, is it worth it? I don’t think so,” Lai Mohammed.

Nigeria suffers intermittent fuel shortages. It has raised its deficit forecast twice this year and increased borrowing to cover the cost of the subsidy.

The country’s petroleum production has also fallen short of government targets, with $1 billion in revenue lost to crude oil theft in the first quarter of this year, according to the sector regulator.

Mr Mohammed said a new industry law that allocates money to oil-producing communities would stop attacks, and blamed the European Union’s climate change policies for stifling investment in the sector.

“We believe that climate change is real and important for emission control, but there is a bit of double standard in the EU policy regarding climate change,” he said.

Attacks on oil infrastructure

Alongside attacks on oil infrastructure, much of Nigeria’s North is wracked by violence committed by so-called “bandits”, while dozens were killed in church attacks in the northern state of Kaduna and the southwestern state of Ondo last month.

“We are leaving the country much more secure than we met it,” Mohammed said, noting progress made against Boko Haram since 2015.

He also called upon western countries to declare the Indigenous People of Biafra (IPOB), which campaigns for part of southeast Nigeria to secede, a terrorist group.

Asked if Nigerian security forces had killed any innocent people in the country’s southeast during its campaign against IPOB, Mohammed said, “not deliberately”.

Mohammed said he would demand the return of hundreds of priceless sculptures known as the Benin Bronzes when he met with the director of the British Museum later on Monday after Germany returned the first two of more than 1,100 last week.

“I will be telling them that time is running out to return our stolen artefacts,” he said. He said he did not expect a result immediately, but that “it’s about when it’s not if”.

FRCN Abuja/Adetutu Adetule

 

Economy

Ogun Assembly Calls  For Constitution Of Task Force To Check Hoarding Of Fuel

By Web News 471

Ogun  State House of Assembly has appealed to the State government to immediately constitute a special task force to checkmate artificial scarcity of petroleum products to reduce incessant queues at fuel stations.

Speaker of the House ,Mr Olakunle Oluomo  made the plea  during the plenary at the Assembly Complex, Oke-Mosan, Abeokuta.


Mr.Oluomo noted  that the queues were occasioned by  unnecessary hoarding of the product by some fuel station owners.

He explained that the issues of artificial scarcity of petroleum products needed to be addressed immediately, as it was already having  negative effect on all other socio-economic activities in the State.


In a similar vein, the Speaker called on the Special Adviser to the State Governor on Security Matters, Mr. Olusola Subair to further explore the existing State Security Trust Fund for the the procurement of more security apparatus to beef up security of lives and property of residents especially at the riverine areas.


The call followed the report of the Deputy Speaker, Mr Akeem Balogun and Deputy Chief Whip,  Mr Olusola Adams, on the need to tighten security around the border areas with Lagos and Ondo States, especially around Ode-Omi, Iwopin in Ogun Waterside and Imobi in Ijebu East Local governments.

Oluwatoyin Adegoke

Energy

Fuel Crisis: Queues Disappear as Filling Stations Sell Above Pump Price

By Web News 1003

Motorists in Oyo town are gradually heaving a sigh of relief as more filling stations have petrol to sell, although not at the government-regulated price.

As a result, the long queue which characterized fuel sales in the ancient town up till last weekend has disappeared, except at four popular filling stations selling the product for one hundred and sixty-five naira per litre.

Our correspondent reports that at other stations, petrol now sells for between two hundred and twenty naira and three hundred naira per litre; although it is higher at black markets located along Idigba – Ibadan expressway.

Our correspondent also reports that commuters are still groaning under hiked intra city transport fare amidst fears by residents that the situation was tending towards an announcement of new fuel prices by the government.

Some of the residents who expressed concern over the careless attitude of people to safety while handling petrol advised the government against price increase at this time.

Kayode Oguntona.

Energy

Fuel Scarcity: DPR To Sanction Marketers Hoarding Products

By Web News 574

The Department of Petroleum Resources (DPR) says it will sanction marketers engaged in the hoarding of petroleum products in their outlets.

Director-General of DPR, Mr. Sarki Auwalu gave the warning in a statement issued on Tuesday in Lagos.

Auwalu said the warning was necessitated by the emergence of queues in retail outlets in some states of the federation.

According to him, from available records, there is product sufficiency in the country and there is no need for hoarding by any marketer.

Auwalu said: “The regulatory agency has set up a special task force to intensify surveillance and monitoring of all retail outlets and depots nationwide to check the anomaly.”

He, therefore, advised the general public against panic buying.

FRCN, Abuja