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Nigerian Govt’s Subsidy On Petrol Now N21 Per Litre – PPPRA

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The Petroleum Products Pricing Regulatory Agency (PPPRA) on Monday said current data showed the federal government is currently subsidizing the supply of every litre of petrol with about N21.22.

The Executive Secretary of the agency, Abdulkadir Saidu, said in a statement the price of a metric tonne of petrol at the international market averaged $582.80.

With that price, Mr Saidu said, this translates to an average landing cost of N146.85 per litre and expected open market price (EOMP) of ₦166.22 per litre for imports by the Nigerian National Petroleum Corporation (NNPC) only.

Due to the controversy over petrol pricing and subsidy, the NNPC has for over a year been the only importer of petrol in Nigeria.

The government approved retail ceiling price of petrol in Nigeria is N145 per litre.

With expected open market price (EOMP) at ₦166.22, the level of subsidy per litre of petrol by government translates to about N21.22.

When the present administration came to office in 2015, it adjusted the retail price of petrol from N87 to N145 per litre after promising to remove subsidy from the pricing template of the PPPRA.

However, years after that policy decision, subsidy has since been reinstated, albeit in a different name called under-recovery, but recorded as part of the operational cost of the NNPC.

Regardless, the Executive Secretary said due to the cost of financing component built into other marketers’ imports, landing cost and EOMP of petrol averaged ₦149.86 per litre and ₦169.23 per litre respectively.

The weekly data covering November 28, 2019 to December 4, 2019, showed the Central Bank of Nigeria, CBN’s official exchange rate averaged N306.97 to the dollar, while the parallel market rate was stable and averaged N360.00 per dollar during the period.

The data also showed that the reference freight rate from North West Europe (UK-Coast – UKC) to West African Frontier (WAF) averaged $30.87 per metric tonne, the rate decreased when compared to previous week’s average of $35.45 per metric tonne.

The PPPRA said that total petrol receipt for the period (November 28 and December 4, 2019) was 473,602 million litres, automotive gas oil (AGO) 68,366 million; aviation turbine kerosene (ATK) 20,327 million litres.

The average daily discharges of petrol for the week stood at 67.66 million litres.

The data showed that the national truck-out volume of petrol for the week was 409.22 million litres, AGO 115.97 million litres, and aviation turbine kerosene (ATK) 27.05 million litres. Household kerosene (HHK) recorded zero.

The average daily truck-out volume of petrol for the week from various depots for supply to retail outlets was 58.46 million litres, while the average daily sufficiency for PMS and AGO during the week were 47.25 and 41.29 days respectively.

Sourced From: Premium Times Nigeria

Tribune

Nigeria records 1,031 new COVID-19 cases as total rises to 87,510

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Tribune Online
Nigeria records 1,031 new COVID-19 cases as total rises to 87,510

The Nigeria Centre for Disease Control (NCDC) has recorded 1,031 new cases of COVID-19, bringing the total number of infections in the country to 87,510. The NCDC disclosed this on its official Twitter handle on Thursday. “On the 31st of December 2020, 1031 new confirmed cases and 11 deaths were recorded in Nigeria. “Till date, […]

Nigeria records 1,031 new COVID-19 cases as total rises to 87,510
Tribune Online

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The Nation

Power should shift to Southeast, says Ufomba

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By Emmanuel Olades, Deputy Editor

 

The clamour for power shift to the Southeast geo-political zone is being intensified by politicians from the zone.

How realistic is the agenda? A prominent Igbo politician and former governorship contender, Chief Reagan Ufomba, said there is justification for the agitation.

“Where there is inequality, there will be no justice;  there will be no unity,” he told reporters in Lagos.

The Peoples Democratic Party (PDP) chieftain said there are many Nigerians from the Southeast who are eminently qualified to succeed President Muhammadu Buhari in 2023.

He described Igbo as good managers, saying: “Anything you give to an Igboman, he turns into gold. Give Nigeria to an Igbo to run, and all will be well.”

Ufomba said there are agitations in the Southeast, owing to persistent feeling of exclusion from federal power. “There are poverty, unemployment, hunger. So, there is agitation,” he stressed.

Ufomba maintained that Igbo presidency is not debatable in 2023. He said it is either Igbo president or nothing.

“In 1999, Obasanjo came from the Southwest. In 2007, Yar’Adua came from the Northwest; a fantastic president who admited that the poll that brought him was flawed.

“Jonathan came from the Southsouth. In 2015, Buhari came from the Northwest. It should be the turn of the Southeast in 2023,” he stressed.

Ufomba has other priorities. For 12 years, he has been gazing at the Abia Government House. “To govern Abia remains my vision,” he said without much elaboration. “I will take that decision in 2022,” he added.

Abia is another mini-Nigeria as the various ethnic groups struggle for the front seat. To foster unity, the Abia Charter of Equity was agreed upon by the founding fathers of the state. Thus, Orji Kalu from Abia North became governor in 1999. His successor, Theodore Orji, is from Centeal. In 2015, Okezie Ikpeazu from South became governor.

Ufomba is from Central. Therefore, what is the chance of assuming the reins? He said his chance is bright. “Power walks. It doesn’t fly. It will walk through Abia Central,” he said.

The PDP chieftain hailed the idea behind the charter of equity. “What is fair to all is good. The charter defines the best principles and strategies for sharing and distribution of power. I support it,” he added.

However, Ufomba said the discussion on succession should not take the front burner now so that the governor will not be distracted.

He commended the governor for fighting the infrastructure battle in the state by constructing the roads, building hospitals, sponsoring human capacity development and sending artisans abroad for skill acquisition training.

Ufomba said: “We will assess him(governor)in 2022. He is on the right course. He has paid the backlog of salaries. He has done over 100 roads in Abia. When I joined the party in 2017, I discovered that the governor was being sabotaged. The federal roads he was constructing were stopped. The design of the bridge at Osisioma was not released. Over nine federal roads in Abia are being rebuilt. He has been doing that, whether he will get refund or not.”

In his view, Abia is work in progress. For the state, life is full of ups and downs. The state is surrounded by seven states-Imo, Anambra, Akwa Ibom, Rivers, Enugu, Ebonyi-all of them linked by federal roads. Yet, these federal roads are abandoned.

Ufomba said the distant Federal Government can hardly cope with the items on the Exclusive List in the constitution. Lending his voice to the call for the devolution of power, he said:”Until the nation is restructured to give room for states to manage certain infrastructure in these states, there will always be abandonment.

“Most of the federal roads should be handed over to states. Why should the Federal Government should be coming to Abia to repair roads?”

Ufomba also assessed the Buhari administration, saying much still needed to be accomplished. He noted that the policies of the government favoured. But, he lamented that young people now find it difficult to farm.

On security, he said: “No foreign investment can come when there is no security. Insecurity makes the environment to be hostile. Politics is the only industry that works.

The PDP chieftain said security ought to have improved because the president is a General who understands the terrain. He observed that the first constitutional priority of government is security. He called for the change of service chiefs, an end to banditry and misbehaviour of herdsmen.

On economy, Ufomba said: “Inflation is an indication that the economy is bad. The economy is in shambles.  People now say that Jonathan was better.”

But, he said on anti-corruption fight, “Buhari has done a little well. “The complaint, he said, revolves around the methods for fighting graft.

“People are concerned about modus operandi. Let there be due process and transparency. EFCC has become a debt collector,” he added.

 

Sourced From: Latest Nigeria News, Nigerian Newspapers, Politics

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This Day

Stakeholders Chart Course for Sustenance of Igbo Language

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By David-Chyddy Eleke

Stakeholders in the South-east region yesterday came together to harp on the need to keep the Igbo language alive, decrying the nonchalant attitude about Igbo people on the fast disappearance of their language.

At a colloquium held in Enugwu-Ukwu Civic Centre in Njikoka Local Government Area of Anambra State, several personalities gave ideas as to how to keep the language from going into extinction, enjoining all to ensure they always speak the Igbo language.

President-General of Ohanaeze Ndigbo in Anambra State, Damian Okeke, who was also at the event, called for a law that would compel the Igbo people to speak the language and also dress in its cultural attires as a way of encouraging the customs and traditions of the people.

“We can start with the Enugwu-Ukwu which has held a yearly colloquium on this topic by asking that the traditional ruler of Enugwu-Ukwu, Ralph Ekpeh, makes a law that would encourage all members of the community to speak Igbo language.

The lead speaker at the event, a Professor of African and Contemporary studies at the Chukwuemeka Odumegwu Ojukwu University, Igbariam, Prof Ngozi Chuma-Udeh, spoke on the theme: ‘Community-based approach to promoting and sustaining Igbo Language’.

She queried Nigeria’s colonial masters for their disregard for Igbo language as well as the imposition of the English language on the people.

“The white man did well by coming to give us civilisation, but in teaching us what they know and what they want us to learn, they should have looked well to see what we have that is worthy of preservation.

“Our language is our pride. Our people must learn to speak our language so that the prediction of UNESCO that Igbo language is among those that will go extinct in 2050 does not come to pass,” she said.

Sourced From: THISDAYLIVE

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Premium Times

Powerful explosion hits Aden airport on new govt arrival

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The blast took place shortly after a plane carrying members of the government landed at the Aden airport.

The post Powerful explosion hits Aden airport on new govt arrival appeared first on Premium Times Nigeria.

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