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Fuel Price: IPMAN Gives Latest Update On Agreement With Dangote

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Fuel Price: IPMAN Gives Latest Update On Agreement With Dangote

The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Abubakar Maigandi, has reassured Nigerians that discussions with Dangote Refinery for direct petrol loading from the 650,000-barrel-per-day refinery are progressing well and will be finalized soon.

Naija News reports that Maigandi confirmed that negotiations are ongoing with Dangote Refinery on all necessary arrangements, expressing confidence that a deal will be reached shortly.

Speaking at the inauguration of a task force for monitoring and preventing oil bunkering, pipeline vandalism, and other sharp practices in Abuja on Wednesday, Maigandi also revealed that IPMAN had resolved its pricing dispute with the Nigerian National Petroleum Company Limited (NNPCL) and is now focused on securing a partnership with Dangote.

“We are pleased to announce that we are close to finalizing arrangements to lift petrol directly from Dangote Refinery. We have received our funds back from NNPCL, and we are now negotiating with Dangote and other partners to begin direct product sourcing from the refinery,” Maigandi stated.

He noted that the ongoing negotiations with Dangote Refinery were initiated after an intervention by the Director-General of the Department of State Services (DSS).

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has been instructed to issue IPMAN the necessary import and off-take licenses.

Oil marketers have been advocating for direct loading from the Dangote refinery since the government’s full deregulation of the petroleum sector.

However, concerns remain about the refinery’s capacity to meet local demand, leading to the possibility of supplementing with imported petrol.

Sources confirmed to The PUNCH that a meeting between oil marketers and Dangote officials earlier this week did not result in a final agreement. Another meeting involving IPMAN representatives is scheduled to take place in Lagos on Thursday to continue discussions.

During his remarks, Maigandi also reiterated IPMAN’s commitment to supporting the government in combating economic saboteurs who undermine the nation’s resources.

He described the newly established task force as a crucial step towards addressing oil-related economic sabotage, which exacerbates the country’s economic challenges.

“Our association plays a pivotal role in the downstream oil sector, accounting for more than 80% of the distribution chain. Therefore, we must tackle the issue of economic sabotage head-on. This task force, formed from members across all 36 states, will work to clear the negative perception that some of our members are involved in these unlawful activities. We are determined to hold all those responsible to account,” Maigandi added.

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Top Nigerian Newspaper Headlines For Today, Friday, 18th October, 2024

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Top Nigerian Newspaper Headlines For Today, Friday, 18th October, 2024

Good morning Nigeria. Welcome to the Naija News roundup of top newspaper headlines in Nigeria for today, Friday, 18th October, 2024

1. Nigerians Not Benefiting From Your Reforms – Bauchi Gov Tells Tinubu

The Governor of Bauchi State, Bala Mohammed, has criticized the policies of the incumbent government led by President Bola Tinubu, stating that Nigerians are not benefitting from these reforms.

The Chairman of the Peoples Democratic Party (PDP) Governor’s Forum urged the Tinubu government to reassess its existing monetary and fiscal policies, asserting that they are not functioning effectively.

Speaking during the launch of the Nigeria Development Update in Abuja on Thursday, Mohammed said there is hunger in the country, reiterating that the people are suffering.

The PDP chieftain emphasized the necessity for the government to adopt a more flexible approach, highlighting the pressing need for reform in light of the increasing hardships faced by citizens.

He pointed out the struggles of ordinary Nigerians, cautioning that the prevailing hunger and economic difficulties have led to a precarious situation. He noted that even individuals in his position are at risk of being attacked by discontented citizens.

Furthermore, Mohammed called for the federal government to formulate more effective economic strategies, underscoring that the current financial support is inadequate to combat the widespread hunger.

2. Petrol, FX Subsidies Have Been Extinguished, They Are Not Coming Back – FG Declares

The federal government of Nigeria has declared a total end to the regime of fuel and foreign exchange subsidies in the country.

According to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, who made the declaration during the presentation of the Nigeria Development Update by the World Bank in Abuja on Thursday, October 17, both subsidies have been extinguished.

Edun revealed that the subsidy removal was necessary because it was costing the country too much and had become unsustainable.

According to him, these subsidies had drained the country’s economy, costing over N10 trillion, which amounts to five percent of Nigeria’s Gross Domestic Product (GDP).

He commended the administration of President Bola Tinubu for ending the subsidy regime, which had lingered for over 40 years.

The Minister acknowledged the difficulties and pain that come with such bold reforms the Tinubu administration is embarking upon, but emphasized the benefits that would accrue to the country over the long run.

3. JAMB Takes Decision On Age Limit For 2024/2025 Admission

The Joint Admissions and Matriculation Board (JAMB), on Thursday, announced its decision to relax the 18-year minimum admission age for the 2024/2025 academic session.

According to the examination body, institutions can admit candidates who meet the institution’s standards and will turn 16 by August 31, 2025.

JAMB Spokesman, Fabian Benjamin disclosed this in a statement released in Abuja on Thursday.

But in a statement titled ‘Admission of candidates with minimum admissible age of 16 years’.

He said the goal is to ensure equal opportunities by preventing disproportionate benefits for those admitted towards the end of the 2024/2025 admission period.

4. Hardship: Don’t Reverse Current Reforms – World Bank Tells FG

The World Bank has advised the Federal Government of Nigeria against reversing its ongoing economic reforms, cautioning that such actions could have severe negative implications for the country.

This warning comes in the wake of significant public discontent regarding the government’s economic policies, particularly the removal of fuel subsidies and the abolition of multiple foreign exchange systems, which were introduced on the first day of President Bola Tinubu’s administration.

At a press conference held in Abuja during the launch of the Nigeria Development Update (NDU) report, Dr. Ndiame Diop, the World Bank Country Director for Nigeria, acknowledged that while the reforms may cause immediate hardship for many citizens, they are essential for the nation’s long-term stability.

He stressed that reversing these reforms would be detrimental, stating, “Reversing these reforms would be detrimental and would spell doom for Nigeria.”

5. PDP Is In Crisis Because Supreme Court Allowed Ward Chairman To Suspend National Chairman – Jonathan

Former President of Nigeria, Goodluck Jonathan, has cautioned the judiciary against making pronouncements that can be detrimental to the nation’s democracy.

Jonathan, who spoke on Thursday in Abuja at the 67th birthday celebration of Prof. Mike Ozekhome (SAN), said he is disturbed by the judgements emanating from various courts on political matters in the country recently.

The former Nigerian leader specifically lamented the decision of the Supreme Court that a ward chairman of a political party could suspend the National Chairman of the party.

According to him, the apex court ruling is responsible for the current crisis in the Peoples Democratic Party (PDP) and had also caused problems for the All Progressives Congress (APC) previously.

Jonathan argued that such court pronouncements could be likened to turning a cone upside down, which increases its propensity to fall.

According to him, empowering Ward Chairmen of political parties to suspend their National Chairmen is against the natural course of justice as it is empowering a subordinate to remove his/her superior from office.

6. Nigeria Removed From Watchlist, Improves Aviation Rating

Nigeria’s Minister of Aviation and Aerospace Development, Festus Keyamo, has announced that the country’s global aviation rating has improved to 75.5 percent, leading to its removal from the international aviation watchlist.

Naija News reports that this was disclosed during the commissioning of the Juhi-2 aviation fuel depot at Murtala Mohammed International Airport (MMIA) in Lagos on Thursday.

Keyamo highlighted that with this upgraded status, airlines operating in Nigeria can now access dry lease aircraft, enhancing the aviation sector’s operations.

Last month, the country’s rating improved from 49 percent to 70.5 percent following the Federal Government’s signing of the Cape Town Convention Practice Direction, significantly boosting Nigeria’s standing in the global aviation sector.

The minister expressed optimism that more aircraft would soon operate in Nigeria, potentially requiring an expansion of Juhi-2’s fuel capacity to accommodate the anticipated increase in air traffic.

7. After Impeachment Reports, Senate Takes Action On Akpabio, Others

The Nigerian Senate has passed a vote of confidence on President of the Senate, Godswill Akpabio and the entire leadership of the Senate.

Naija News reports that Senators passed the vote of confidence during plenary on Thursday.

The resolution came under a matter of privilege raised by Senator Yahaya Abdullahi representing Kebbi North.

He was speaking against the backdrop of social media reports over the alleged impeachment of the President of the Senate by Northern Senators.

Senator Abdullahi, who considered his privilege breached, described the allegations as an attempt to cause division and discord along ethnic or regional lines within the Senate.

The lawmaker noted that the upper chamber must rise against any connivance to negate the unity thus far enjoyed, bring the leadership down and the Senate to ridicule.

8. Labour Party Speaks On Sanctioning Peter Obi, Alex Otti, For Alleged Anti-party Activities

The Labour Party (LP) has insisted that the caretaker committee set up by its former presidential candidate, Peter Obi and Governor Alex Otti, is a product of illegality.

The National Publicity Secretary of the LP, Obiora Ifoh, stated this in an interview with Punch which was published on Thursday.

According to him, both Obi and Otti were misled by wrong information, adding that the establishment of the caretaker committee headed by Nenadi Usman is alien to the party’s constitution, the country’s constitution, as well as the electoral laws.

Ifoh, however, ruled out any plan to sanction Peter Obi and Governor Otti, adding that they are leaders of the party who were simply misled and would find their way back to the manifold of the Labour Party.

The LP spokesman categorically ruled out any form of sanction for Obi and Otti, describing them as leaders and stars of the party.

9. Ribadu Exposes Source Of Illicit Weapons In Nigeria

The National Security Adviser (NSA), Nuhu Ribadu, has disclosed that a sizeable number of illicit weapons in circulation originally belonged to the federal government.

He stated that the weapons got into the hands of non-state actors due to unscrupulous individuals in the security agencies.

Ribadu said this at the arms destruction exercise by the National Centre for the Control of Small Arms and Light Weapons (NCCSALW), at Muhammadu Buhari Cantonment, Abuja.

The NSA, who rained curses on security personnel who engage in giving weapons for terrorists, bandits and other non-state actors, assured that the government will do everything to secure the country.

10. There Is Much To Say And It’s Not Yet Time For It – Obasanjo

Former President of Nigeria, Chief Olusegun Obasanjo, has declared that there is much to say, but it is not yet time for it.

He made the declaration on Thursday in his capacity as the chairman of events at the 67th birthday celebration of Mike Ozekhome (SAN).

Naija News reports Obasanjo, as he approached the podium for his speech, took ex-President Goodluck Jonathan along with him, announcing that he would be the co-chairman of the event.

Jonathan, on his part, disclosed that he wrote the forward of one of the 50 books that were presented at the event by Ozekhome, voicing that he knew that ex-President Obasanjo would not want to delve into the issues he pointed out about the judiciary and the recent judgements.

However, Obasanjo characteristically, before he left the podium, took back the microphone and said, “I know that former President Jonathan said that I would not want to say anything.

“But, I want to say that there is much to say and it is not yet time for it.”

That’s the top Nigerian newspaper headlines for today. Read more Nigerian news on Naija News. See you again tomorrow.

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AFCON: Libya Jittery As CAF Demands Response To Nigeria’s Protest

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AFCON: Libya Jittery As CAF Demands Response To Nigeria’s Protest

The Libyan Football Federation is in a state of panic following a directive from the Confederation of African Football (CAF) to submit documents concerning the cancellation of the AFCON qualifying Group D match against Nigeria.

This comes after Nigeria’s Super Eagles refused to play the match due to being diverted to Labraq Airport and held for 18 hours without food or water.

In a special statement to Libya Al-Ahrar Channel, Nasser Al-Suwaie, Secretary-General of the Libyan Football Federation, confirmed that both the Libyan and Nigerian football associations have until October 20 to provide documentation related to the incident.

Al-Suwaie expressed concerns over potential collusion among certain parties within CAF but maintained that the position of the Libyan Federation remains robust.

He clarified that the Libyan Federation did not change the plane’s landing course to Al-Abraq Airport. Instead, he stated that the diversion was a decision made by the Libyan state, underscoring the need to respect the sovereignty of Libya.

The Super Eagles returned to Nigeria on Monday with harrowing accounts of their experience.

Team manager Patrick Pascal recounted the discomfort of the players, who had to take turns sleeping on the bare airport floor.

He further disclosed that the airport toilets had been deliberately soiled by Libyan officials in anticipation of the team’s arrival, compounding their distress.

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Why NLC May Reject Sanwo-Olu’s ₦85,000 Minimum Wage – Chairperson

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Why NLC May Reject Sanwo-Olu’s ₦85,000 Minimum Wage – Chairperson

The Chairman of the Nigeria Labour Congress (NLC) in Lagos State, Agnes Funmi, has indicated that the labour union may reject the ₦85,000 minimum wage proposed by the state government if other states opt to offer higher amounts.

The statement comes in response to Governor Babajide Sanwo-Olu’s announcement during a recent interview on Channels TV, where he revealed that his administration plans to implement the ₦85,000 minimum wage for Lagos civil servants.

The governor’s comments were made during the program titled “One-On-One with Babajide Sanwo-Olu” on Wednesday evening.

Sanwo-Olu said, “I’m glad to let you know that the minimum wage for Lagos which we’ve discussed with our union is ₦85,000 today. It’s not a competition, so I’m not going to say that we’re paying more than some other people, it’s a function of affordability and a function of capacity.

“We actually increased our salary earlier in the year and it’s deserving for our staff, and we’ll continue to do that.

“Seun, I will want to come back to you in January and say that I’ve been able to increase the minimum wage of Lagos to ₦100,000. (This is) not because I want to make anybody look bad, it’s really because I want my people to have a living wage.”

Reacting in an interview on Wednesday, the state chairperson of the NLC, Agnes, told The Punch that the union welcomed the idea but gave conditions for rejecting it.

She said, “Since he is not paying anything below the minimum, we don’t have a choice but to accept, because they also said they have other competing interests like they have their facilities being overstretched because of the population.

“The reason we agree to the ₦85,000 for now is that we also want the governor to provide infrastructure. We have infrastructure like the rail services.

“We can even put our vehicles at home and enter the rail. It (the minimum wage) is the highest for now.”

The NLC chairperson said the union had been in a dialogue with the government.

“But if there is any state that will declare more than ₦85,000 tomorrow, we will reject that N85,000. We accept it because we have seen that the government is doing so much infrastructure for now. They are providing rail lines and alternative transportation systems.

“We are also dialoguing and discussing with the government on the provision of affordable housing for workers,” she said.

Insisting on why the NLC would may reject the current minimum wage offer, Agnes said, “We want to tell the government that if tomorrow there is any state that declares more than ₦85,000, we will reject it in totality.”

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