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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

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Corona Virus

NIgeria Records 87 New Cases Of COVID-19, Total Infections Now 1,182

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By Abujah Racheal

Nigeria has recorded 87 new cases of the COVID-19, bringing the total infections to 1,182 , according to the Nigeria Centre for Disease Control (NCDC).

The NCDC, in a tweet via its official handle, said 33 of the new infections were recorded in Lagos, 18 in Borno, 12 in Osun, nine in Katsina, four each in Kano and Ekiti, three each in Edo and Bauchi and one in Imo.

“As at 11:55 pm April 25, there are 1,182 confirmed cases of COVID-19 reported in Nigeria.  The country’s total deaths from the virus now stand at 35, while 222  have been treated and discharged,” it said.

The centre said as at 11:55 pm, April 25, Lagos has 689, FCT-138, Kano-77, Ogun-35, Osun-32, Gombe-30, Katsina-30, Borno-30, Edo-22, Oyo-18, Kwara-11, Akwa Ibom-11, Bauchi-11, Kaduna-10, Ekiti-8 and Ondo-4.

Others are Delta-six, Rivers-three, Jigawa-two, Enugu-two, Niger-two, Abia-two, Zamfara-two,  Sokoto-two, Benue-one, Anambra-one, Adamawa-one, Plateau-one and Imo-one.

Sourced From: News Agency of Nigeria

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Daily Trust

2 Women Crushed To Death On Lagos – Ibadan Expressway

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Two women were crushed to death in a road crash involving a Mack truck and a motorcycle around Lotto, beside NNPC filling station on the Lagos – Ibadan expressway.

The accident occurred around 8:02am on Saturday when the truck marked FST 984 XX lost its brakes and hit the moving motorcycle, killing the women.

The spokesperson of Traffic Compliance and Enforcement Corps, Babatunde Akinbiyi,  confirmed the incident to newsmen in Abeokuta.

”The truck and the motorcycle were both on the outbound lane from Lagos when the crash happened due to break failure on the  part of the truck driver.

“The vehicle and the motorcycle are with the police at the Redeemed Police Station, along with the driver of the truck,” he said.  Akinbiyi explained that the rider of the motorcycle was nowhere to be found after the accident.

He disclosed that  the remains of the deceased had been deposited at the morgue of Olabisi Onabanjo University Teaching Hospital, Sagamu.

Sourced From: Daily Trust

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Tribune

Mentally-Challenged Man Axes 70-Year-Old Father To Death

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A 37-year-old man said to be mentally-challenged has used an axe to kill his father, aged 70 in Unuchiana Village, Aguata Local Government Area of Anambra State.

Tribune Online learnt that the suspect allegedly axed his father to death in their compound.

Confirming the incident in a statement, the Anambra State police command’s public relations officer, SP Haruna Mohammed, said one Timothy Ezeofor reported that his elder brother, 70-year-old Godwin Ezeofor, was allegedly murdered by his son, Chigorom Ezeofor using an axe.

According to Mohammed, at about 9:45am on Friday, one Mr Timothy Ezeofor of Umuezegoro Kindred, Unuchiana Village, reported at Aguata Police Station that at about 8:00am of same day, his elder brother, Godwin Ezeofor of the same address was murdered by his son, one Chigorom Ezeofor, of the same address using an axe.

He said the complainant alleged that the suspect had been mentally ill for the past eight years.

The police spokesman said following the report, police operatives attached to Aguata Division led by the DPO, CSP Ayeni Oluwadare, mobilised to scene and rushed the victim to the hospital where he was pronounced dead by a medical doctor and the corpse has been deposited at a hospital mortuary for autopsy.

He also said the suspect who “looks insane” had been arrested and taken to the station for investigation to ascertain circumstances surrounding the incident.

Sourced From: Tribune Online

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This Day

COVID-19: Police Arrest Bishop For Defying Lockdown To Protest At Chinese Embassy In Lagos

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By Chiemelie Ezeobi.

The Lagos State Police Command has arrested the General Overseer of Resurrection Praise Ministries for Africa alias Jehovah Sharp Sharp, Archbishop Samson Benjamin, for defying the lockdown order to protest at the Chinese Embassy in Lagos.

Benjamin, the police alleged, led about 100 persons to the Chinese Embassy in Victoria Island to protest the maltreatment of Nigerians in China.

According to the cleric, the Chinese were operating freely in Nigeria despite that COVID-19 started in their country but have chosen to maltreat Nigerians and other blacks in China.

It was gathered that officials of the embassy sent a video clip of the alleged invasion to the police which prompted operatives from Victoria Island Division to move to the scene to effect the arrest.

A police source who spoke on anonymity said the cleric was being detained at the State Criminal Investigation and Intelligence Department, (SCIID), Yaba and may be arraigned in court on Wednesday.

In the video, the bishop denied going to the embassy with 100 persons, insisting that he was there by himself to register his displeasure over the ill-treatment of Nigerians in China.

Efforts to reach the spokesman for the state police command, DSP Bala Elkana, proved abortive as he didn’t return the message sent to him as at press time.

 

Sourced From: THISDAYLIVE

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