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Looming Price Hike: Queues Return in Petrol Stations
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The queues for petrol grew worse in some parts of the country on Sunday following the shutdown of many filling stations amid heightened expectations of an increase in the pump price of the product.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, had on February 9 said Nigerians should prepare for the pain associated with the increase in crude oil price.
The international oil price, Brent crude, rose by more than 14 per cent in February as it closed at $64.42 per barrel, up from $56.42 per barrel at the start of the month.
Motorists besieged the few outlets that were open for business in Abuja, Nasarawa, Niger and Borno states, while some others that had dispensed petrol the previous day were locked on Sunday.
Two weeks ago, queues of motorists were seen in many locations after oil marketers raised concerns about petrol pricing by depot owners and how this affected petroleum products supply.
The queues resurfaced on Saturday and Sunday, as only few filling stations were dispensing petrol while others were shut.
Some attendants at some of the shut outlets told one of our correspondents that they were not selling petrol because the cost of the product would be increased from March.
Nipco and Gegu filling stations, along the Kubwa-Zuba Expressway, Abuja, had long queues of motorists on Sunday, while IBWAS filling station on the same road that had earlier dispensed products was shut.
Similarly, Major Oil filling station, along Airport Road, Abuja, which had steadily dispensed products up till Saturday, did not sell petrol on Sunday.
Shema Oil, close to Next Cash ‘N’ Carry in Abuja; NNPC outlet in Zuba, Niger State, and few other filling stations in Nyanya/Mararaba in Nasarawa State had queues.
“We have not been advised of any increase in petrol price. Many filling stations are not selling petrol perhaps because they have run out of stock or they are hoarding the product in anticipation of price increase,” the National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, said.
Osatuyi, who spoke with one of our correspondents, said he observed queues in some stations in Lagos on Sunday.
“The outcome of the meeting between the President and the governors is not yet known. There will certainly be an increase in petrol price but we don’t know when this will happen,” he added.
In Maiduguri, the capital of Borno State, motorists and other users of petrol were hit by scarcity of petrol on Sunday as fuel stations were shut down.
Fuel stations located along major highways, including Kano Jos road, Shehu Laminu way and Baga road, were not dispensing petrol, while motorists queued for hours at the filling stations that were selling the product.
Many commuters were stranded at bus stops in Maiduguri as motorists struggled at filling stations to get petrol.
“They said there is no fuel but they sell to black marketers; they have refused to sell to us. I have been here since 6:45am because my experience yesterday (Saturday) was horrible as I couldn’t get fuel. I’ve been here for over four hours and I have not got the product,” a tricycle operator, Abubakar Shettima, told one of our correspondents.
When contacted, the Chairman, IPMAN, Borno, Mohammed Ngala, denied that independent marketers were hoarding petrol, adding that Borno had been experiencing a shortage in recent days.
“Right now, we sell petrol at N165-N170 per litre. But the product is not enough to serve the populace. We don’t hoard fuel,” he said.
The Coalition of Nigerian Civil Society Organisations for Petroleum and Energy Security called on the Federal Government to fully deregulate the downstream oil sector to address the concerns about petroleum products’ pricing.
The Convener of the CSOs coalition, Timothy Ademola, said they had decided to interface with the Federal Government and agencies in the oil sector on the need for deregulation.
He said, “Let the forces of demand and supply be allowed to play out in the pricing of petroleum products. This is when we can say we have full deregulation.
“We are ready to partner government, the Nigerian National Petroleum Corporation, the Department of Petroleum Resources and other agencies to make this work.”
The Managing Director, Realink Oil Nigeria Limited/National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, had said in an interview with one of our correspondents last week that depot owners were hoarding products due to the concern of a possible hike in petrol price.
He said petrol price would definitely rise, going by the increase in global crude oil prices.
But the Petroleum Products Pricing Regulatory Agency was silent on whether there would be an increase in petrol price in March as expected by marketers.
PPPRA’s spokesperson, Kimchi Apollo, told one of our correspondents that he had not received any directive in that regard.
The PUNCH had reported last Tuesday that going by the petrol pricing template of the PPPRA, the landing cost of petrol rose to N186.33 per litre on February 16, with the pump price of the product expected to be N209.33 per litre.
Reacting to complaints by marketers that some private depots had hiked the ex-depot price of petrol and that this would definitely warrant an increase in pump price, the Nigerian National Petroleum Corporation said it had not raised its ex-depot price yet.
Group General Manager, Group Public Affairs Division, NNPC, Kennie Obateru, said the NNPC had made it clear that it was awaiting the outcome of the proposed meeting between the Federal Government and labour unions as touching the price of petrol.
“We have not increased ex-depot price. It is now left for the regulatory agencies to ensure that the approved ex-depot price is what the various depots stick to,” Obateru told one of our correspondents.
On how the meeting between the Federal Government and labour would affect petrol price, the NNPC spokesperson said, “We are also watching to see the outcome of that meeting before taking the next step.”
Efforts to the get the Department of Petroleum Resources to speak on what it was doing to address the complaints against depot owners was not successful.
The spokesperson for the agency, Paul Osu, did not answer calls to his phone and also did not reply a detailed text sent to him on the matter.
The Punch
Headlines
Atiku Raises Alarm over ‘Mysterious’ Credit into Private Bank Account
Former Vice President and African Democratic Congress (ADC) Presidential Candidate, Atiku Abubakar, has raised concerns over what he described as a suspicious and unauthorised payment into one of his private bank accounts.
In a statement issued on Friday by his Senior Special Assistant on Public Communication, Phrank Shaibu, Atiku said the transfer originated from an individual or entity unknown to him and carried the narration, “Contribution Electioneering Campaign.”
According to the statement, neither Atiku nor his campaign solicited, authorised or had any knowledge of the payment.
The former Vice President said the account was strictly private and its details were not in the public domain, raising concerns about how the information could have been obtained.
“How did unknown persons obtain the confidential banking details of a private citizen?”
Atiku said the incident raised broader concerns about the security of Nigerians’ financial information, particularly if the private banking details of a former Vice President and presidential candidate could allegedly be accessed without his consent.
“If the private banking information of a former Vice President and a leading presidential candidate can be accessed and deployed for reasons yet unknown, then no Nigerian’s financial privacy is safe.”
He further expressed concern that the alleged disclosure could have involved individuals with privileged access to confidential information.
According to him, if such access is established, it could expose account holders to criminal elements, including kidnappers, terrorists, bandits and fraudsters.
The former Vice President also called the attention of Nigerians and security agencies to the incident, describing it as part of what he termed a series of “suspicious activities” ahead of the 2027 general elections.
“We therefore put the Nigerian public and the security agencies on notice about this latest incident in a litany of suspicious activities leading up to next year’s general elections.”
Atiku also alleged that the incident could be part of an attempt to damage his reputation as political activities intensify ahead of the elections.
He urged Nigerians not to be distracted by what he described as “tired tactics” aimed at character assassination.
“Such desperate antics have failed before and will fail again.”
The ADC presidential candidate said he remained focused on his political agenda and his stated commitment to providing solutions to the country’s challenges.
“The Waziri Adamawa remains focused on offering Nigerians credible leadership and practical solutions to the nation’s challenges.”
Headlines
VP Shettima Embarks on Two-Week Leave
Vice President Kashim Shettima is schedule to begin a two-week leave this Thursday following the approval of President Bola Ahmed Tinubu. This is the Vice President’s first official leave since assuming office on May 29, 2023, according to a statement by the Senior Special Assistant to The President on Media & Communications (Office of The Vice President), Mr. Stanley Nkwocha.
The statement highlighted that during the period of the leave, the Vice President will devote time to study, reflection and intellectual renewal as part of efforts to strengthen his capacity for continued service to the nation.
The leave offers Senator Shettima an opportunity to review the administration’s ongoing programmes, deepen his understanding of emerging national and global policy issues, and prepare for the responsibilities ahead as the Federal Government intensifies the implementation of the Renewed Hope Agenda.
Since assuming office on May 29, 2023, the Vice President has remained actively engaged in the coordination and supervision of several strategic government initiatives, particularly in economic development, food security, humanitarian affairs, digital transformation, job creation and regional cooperation.
He has also chaired the National Economic Council, which brings together the governors of the 36 states, the Governor of the Central Bank of Nigeria and other relevant public officials to deliberate on policies affecting the economy and the welfare of Nigerians.
Beyond his responsibilities within the country, Vice President Shettima has represented President Tinubu at major international and regional engagements, advancing Nigeria’s position on economic integration, peace and security, climate action, investment and sustainable development.
Senator Shettima remains deeply committed to the ideals of loyalty, duty and service that have defined his role in the administration, as well as to supporting President Tinubu’s efforts to build a more secure, productive and prosperous Nigeria.
The Vice President will return to office at the end of the two-week leave period and resume his official responsibilities with renewed energy and dedication to the service of the nation.
Headlines
Tinubu Approves Fresh Salary Increase for Military
President Bola Tinubu has approved salary increases of between 30 and 80 per cent for personnel of the Nigerian Armed Forces, with about 250,000 officers and men set to benefit from the enhanced remuneration package aimed at boosting troop welfare and morale.
The new salary structure, which takes effect from September 1, will see officers above the rank of Colonel receive a 30 per cent salary increase, while personnel from the rank of Colonel down to Warrant Officer will enjoy a 50 per cent increment. Soldiers from the rank of Private to Staff Sergeant will receive the highest increase of 80 per cent.
The approval will raise the annual salary bill for the Armed Forces from N660 billion to N924 billion.
Special Adviser to the President on Information and Strategy, Bayo Onanuga, said the salary review underscores the Tinubu administration’s commitment to improving the welfare of military personnel in recognition of their sacrifices in safeguarding the country.
The President noted that members of the Armed Forces have continued to display courage and dedication in confronting banditry, kidnapping, terrorism and other security threats across the country.
“The men and women who help to keep us safe in our homes must be supported and appreciated in the course of their duties to our nation,” Tinubu said.
He assured that his administration would continue to prioritise troop welfare while strengthening the operational capacity of the military through improved equipment and technology.
“Our administration will continue to prioritise troop welfare and modernise the armed forces by providing the weapons and technological tools needed to discharge their duties,” the President stated.
Tinubu stressed that security remains central to national development, saying no country can attain sustainable progress without guaranteeing the safety of its citizens.
“Our administration believes that no nation can achieve greatness without security. We therefore remain resolute in mobilising all military and law enforcement assets to eliminate security threats and protect the lives and property of all Nigerians,” he said.
The President urged military personnel to see the enhanced remuneration as a demonstration of the nation’s appreciation for their service and commitment.
“I urge our servicemen to take our gesture as a sign of our deep appreciation of the services they render to our fatherland. Together we shall prevail over the enemies intent on destroying the fabric of our nation,” Tinubu added.






