Nigerian Eye

Petrol cost hits N256/Litre

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 The Nigerian National Petroleum Corporation (NNPC) said the cost of a litre of petrol has hit N256 and it is absorbing between N140-N150 billion in monthly subsidy to sell to consumers at N162.<a id="more" name="more"></a>
But the octopus corporation blamed fuel smugglers for worsening the situation, as daily consumption jumped to to 103 million litres per day in May, as against the usual 50-60 million litres
The Group Managing Director (GMD), NNPC, Mele Kyari, made this known on Tuesday at stakeholders meeting organised by the corporation to discuss how best to stop smuggling in the country.
Kyari said the current situation had kept the country in a state of bleeding, as it could not sustain the payment of subsidy that accompanies the volume.
He said that the introduction of Operation White and involvement of the Economic and Financial Crimes Commission (EFCC) had helped the situation.
“From the truck out report from the PPPRA data base , we have seen collapse of load out average move from 70 million litres to 60 million litres just in one month, that means we can do with less than 70 million. The balance, I don’t know where it goes to but we know for sure that it is not consumed in this country .
“In very recent data, we see what we really want in the beginning of May and June, there was a day we load out about 103 million litres of PMS within one day across the depots.
“ We know it is not required, we know it is inappropriate and we also know that something wrong is happening that somebody is chasing something.
“But we in NNPC, we are not in control of that, we are not in every depot, we don’t keep products in all the depot but when the volume goes down, it comes down to us, when there is tight in supply, it comes back to the NNPC and we solve the problem,’’ he said
He said that President Muhammadu Buhari had directed that smuggling must stop adding that it was the reason for inviting all stakeholders to chart the way forward.
He said that the corporation had incorporated the EFCC, the Department of Security Services (DSS), the Nigeria Customs services (NCS), the Nigeria Security and Civil Defence Corps (NSCDC), on a platform to achieve this.
“Mr President has directed us that we must stop smuggling or round tripping if there is anything like that, and so we must stop it by every means necessary, and we must do anything to stop it, that means we have to work outside the box.
“ We know that there are layers of controls that have been there that is not working and that is why we must work outside the box.
“That is why we are happy to drag in the EFCC, DSS, NSCDC, and even the NCS on a different platforms that will enable us to control this volume and we have seen it work,’’ he added
Commenting on the current PMS and subsidy payment, Kyari explained that with the current exchange rate, the pump price of petrol should be N256 per litre.
“If we are to sell at the market today at current exchange rate, we will be selling the product at about N256 to a litre. What we sell today is N162, so the difference is at a cost to the nation,’’ he said
According to him, with the high volume of daily consumption, the country cannot sustain subsidy payment.
“As long as we don’t regulate volume, until we are able to exit this current level, which I know so much work is going on, then we have to manage the volume that we are exposed to between this price of N162 and N256.
“The difference comes back to as much as N140 billion to N150 billion cost to the country monthly.
“ As long as the volume goes up, that money continues to increase and we have two sets of stress to face, stress of supply and stress of foreign exchange for the NNPC. We may not see foreign exchange cheque taking place for importation,’’ he said.
Minister of State for Petroleum Resource, Chief Timipre Sylva, said smuggling was not a business and would never be a business.
“I will like to put it on record that whatever we are trying to do in the area of deregulation will not make sense without us exactly knowing the actual consumption of PMS.
“When I first came in as minister, I was informed that the daily consumption in the country was around 60 to 62 million litres a day, which to me sounded a little bit outrageous considering the number of cars we have on the road .
“But somehow, the figures, I understand today have come down to around 52 million litres, may be the number of vehicles have suddenly reduced, but you will agree with me that something is wrong that is why the tracking of trucks loading products is essential for us to move forward on this issue of subsidy removal,’’ he said.
He added that illegal export of products through the borders whether the land or sea must be stopped, adding that Operation White that was commissioned in 2020 had not worked effectively until the EFCC came into the picture.
“I believe that with the EFCC in the picture, I think that the system will work better and know that Petroleum Equalisation Fund, is also working on product tracking arrangement.
“For me, I am happy to see that the EFCC is working with us and if we can get this right, I think our movement toward deregulation will be better assured,’’ he said
EFCC Chairman, Abdulrasheed Bawa, said the commission was happy to be part of Operation White since part of its duty was to ensure closure of financial crimes in the country.
“It is quite disheartening to see what is happening. In 2012, we were faced with petroleum subsidy fraud, we at the EFCC were able to unravel a lot of fraud going on there.
“From volume falsification to alteration of bill of laden, to the non-payment of over recovery and to what I call single importation and double subsidy payment.
“We are still trying to recover about N50 billion we have identified in the fraud but now it is a different ball game. NNPC has taken responsibility of importation of products but the issue of smuggling is there.
“We are assuring Nigerians that anything we have to do to stop smuggling, we will do to ensure that perpetrators are brought to book and justice is met for the benefits of Nigerians,’’ he added.
Oil marketers and industry players present at the meeting pledged to support government to curb smuggling.

Latest-News Petrol cost hits N256/Litre

The Nigerian National Petroleum Corporation (NNPC) said the cost of a litre of petrol has hit N256 and it is absorbing between N140-N150 ...

#EndSARS: No deaths at the Lekki Toll Gate - Muri-Okunola

06:55 Unknown 0

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Lagos Head of Service, Hakeem Muri-Okunola on Tuesday told the Lagos State Judicial Panel that many of the people reported to have been killed at the Lekki Toll Gate refuted their rumoured deaths.
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According to him, most of the injuries recorded in the aftermath of the alleged shootings at the Lekki Toll Gate and environs were predominantly fractures, machete wounds and minor cuts.
Muri-Okunola testified before the panel to help unravel the truth following controversy over October 20 incident.
The Nigerian army had been accused of opening fire on and killing some of the #EndSARS protesters at the toll-gate plaza on the 20th of October, 2020.
But the Army’s 81 Division, which appeared thrice before the panel, denied the allegations, saying soldiers fired blank bullets in the air to disperse the crowd.
It has, however, shunned repeated summons by the panel requiring it to respond to petitioners’ further questions and evidence debunking its claims.
However, appearing before the panel, Muri-Okunola gave oral, visual and documentary pieces of evidence on the Lekki shooting incident.
Pointing at the projector showing visuals of when the Governor visited injured #EndSARS protesters at the hospitals, the Head of Service said: “These are some of the pictures of the hospitals that we visited.
“In this Reddington Hospital, these individuals were injured in that axis, some of them alluded to being injured in a stampede of running, falling over each other.
“Predominantly, there were about 13 people injured in Reddington Hospital Admiralty Way. The General Hospital also had 12 patients.
“The doctors in charge said there was one of those patients that were being moved to LASUTH (Lagos State University Teaching Hospital) who had more severe injuries from machete wounds.
“At the time we were there, most of the injuries were all in the nature of cuts, bruises from machete wounds and stampede. Nobody at the hospitals said they were shot at.”
Muri-Okunola noted that there has been controversy about the actual number of alleged deaths at the Lekki Toll Incident but that since last October 20, many of the people reported to have been killed refuted their rumoured deaths.
He pointed out that Nollywood actress, Eniola Badmus, Stephen Becky, Iraby of Oto-Auch and Joshua Ogbodo who were said to have been killed during the Lekki shooting denied the rumour.
Others are “Anthony Chechukwu alleged to have been shot by soldiers at the Lekki tollgate; (he) has been confirmed to have died in a motorcycle accident and Lucia Adu who was claimed to have died at the Lekki Toll Gate was confirmed to have been killed in an accident involving a stationary truck on 20th October 2020.”
The HoS, who gave a chronological order of events from 8 October to 20 October 2021, said the “protesters congregated in two major hotspots” in the state, Alausa Government House and the Lekki Toll Gate.
He noted that on October 9, 2020, Deputy Governor, Obafemi Hamzat alongside other officials spoke to the protesters who converged at the Lagos Government House in Alausa, on their rights to demonstrate peacefully and shared foods and drinks with the protesters, he said.
He noted further that on 13 October, Sanwo-Olu again visited the #EndSARS protesters and went “straight to the airport” to present their five-point demands to President Muhammadu Buhari and the then Inspector-General of Police, Muhammed Adamu.
A “statement was released by the spokesman of the President, Femi Adesina that the Nigerian Government had agreed to the five-point demand of the #EndSARS protesters.”
Muri-Okunola said some days later, some “guerilla protesters” hijacked the “noble” demonstration, which prompted Sanwo-Olu to announce a curfew.
He added: “Violence escalated throughout the city of Lagos, with hoodlums infiltrating and… the peaceful protest of this decentralised movement of #EndSARS.
“Across the city, young men were manning makeshift checkpoints and barricading major roads and stopping cars on routes. They were not carrying the placards and signs that had characterised earlier peaceful protests. The lives of both protesters and the rest of the citizens alike were put in danger.
“At about 10am on the 20th of October 2020, a police station was set on fire by suspected hoodlums who had hijacked the #EndSARS protest in a reprisal attack fuelled by the alleged shooting of one of them by a policeman.
“Hoodlums who had carted away ammunition looted from various police stations around the city unleashed mayhem around the city while destroying properties, mugging innocent citizens and threatening the lives of everyone that they came in contact with.”
The Head of Service disclosed that Sanwo-Olu confirmed two deaths, one of which was said to have died as a result of blunt force trauma at Reddington Hospital.
During cross-examination, Muri-Okunola confirmed that he heard that military men from Bonny Camp were at the Lekki tollgate and based on video evidence they were armed and “shots were fired.”
Nevertheless, he noted that the police and the army in the state confirmed that their officers were not deployed specifically to the Lekki tollgate on 20th October 2020.
One of the lawyers representing the #EndSARS protesters, Mr Adeshina Ogunlana, contended Sanwo-Olu ought to come forward and testify.
But panel chairperson, Doris Okuwobi reminded Ogunlana, a former chairman of the Nigerian Bar Association(NBA) Ikeja Branch, of the Constitutional provision relating to state executives.
She said the Governor was not “compellable” because he has been conferred immunity by the constitution under section 308.

Latest-News #EndSARS: No deaths at the Lekki Toll Gate - Muri-Okunola

Lagos Head of Service, Hakeem Muri-Okunola on Tuesday told the Lagos State Judicial Panel that many of the people reported to have been ...

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Euro 2020: Mourinho names player England need against Czech Republic

10:55 Unknown 0

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Roma manager, Jose Mourinho, has named Aston Villa’s Jack Grealish as the player England need to start against Czech Republic when both teams clash in tonight’s Euro 2020 final Group D tie at Wembley Stadium.
Mourinho believes England manager, Gareth Southgate, must start Grealish against Czech Republic because the midfielder plays like Portugal legend, Luis Figo.
Grealish is yet to start for England at the Euro 2020 so far.
England head to the game following a 0-0 draw against Scotland, while Czech Republic played a 1-1 draw with Croatia.
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“England look like a shy team, so they need Jack Grealish against the Czech Republic tonight,” Mourinho told the UK Sun.
“He looks like he has always been on that stage.
“The guy is brave. The guy never played a European match for his club, but he arrives in the national team and is fearless.
“He risks. He gambles. He loses the ball. He creates. He kicks people. People kick him. He creates instability in opponents.
“And he wins free-kicks.
“You win free-kicks in wide areas, then you go with Harry Maguire or Tyrone Mings or John Stones and Harry Kane — and England are powerful on set-pieces.
Europa League semi-final fixtures confirmed“England looked a shy team against Scotland because they were a team without that thing that Grealish has.
“I don’t like comparing players — and Luis Figo was at a different level — but Grealish is like Figo in that he’ll demand the ball.
“He says, ‘Give me the ball and I will resolve this!”
“Grealish didn’t play amazingly when he came on against Scotland, but how many times did he have the ball? How many fouls did they commit on him? How many one-against-ones did he create? England needs these qualities.”

Latest-News Euro 2020: Mourinho names player England need against Czech Republic

Roma manager, Jose Mourinho, has named Aston Villa’s Jack Grealish as the player England need to start against Czech Republic when both t...

Biafra: ESN after bandits, terrorists not security operatives – Nnamdi Kanu

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Nnamdi Kanu, the leader of the Indigenous People of Biafra (IPOB) has reacted to reports that the Eastern Security Network (ESN) is after security agencies in Nigeria.
Kanu disclosed that ESN is not fighting the Army, police and Department of State Services (DSS).
In a tweet, the IPOB leader insisted that ESN was after bandits and killer herders in the Southeast.
He stressed that the security outfit was set up to tackle terrorists in the Southeast.
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Kanu tweeted: “I want to make this clear: #ESN is not after security agents. #ESN is focused on stopping terrorists who are rampaging our communities!
“The sole duty of the #ESN is to resist the attacks of the terrorists, bandits and herdsmen against #Biafran.
“There’s no way #IPOB would fold its hands and watch terrorists with an evil agenda decimate our communities while the government maintains criminal silence!”