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Nigeria’s Kerosene Conundrum
ABUJA – In Nigeria, a dispute over oil finances is so contentious that the public has spent months debating what would appear to be a straightforward question: Is kerosene subsidized?
The Nigerian National Petroleum Corp. says it spends between $1 billion and $3 billion a month to lower the price of kerosene to 25 cents a liter. That’s a more affordable rate for the nation’s 170 million people, most of whom make less than $2 a day, and many of whom use kerosene to cook.
However, nowhere in Nigeria is kerosene sold for 25 cents a liter. Government statistics show gas station prices starting around 90 cents.
If the state oil company is spending billions of dollars to subsidize kerosene, why is it so expensive? The NNPC says it doesn’t know.
In an email, NNPC Group Managing Director Andrew Yakubu said it is possible oil traders are buying up all of the subsidized kerosene and taking it across borders, which is forcing gas stations to buy and sell kerosene at international prices. The best solution, Mr. Yakubu said in the email, is for Nigerians to simply switch to cooking gas.
The questions don’t end there. The NNPC was ordered to stop subsidizing kerosene in a June 2009 letter from President Umaru Yar’Adua, which was viewed by The Wall Street Journal. And four months later, the NNPC sent a letter back, saying it would stop subsidizing kerosene.
Now, the NNPC says the president at the time never published that order in a newspaper—a legal requirement to put it into effect.
It isn’t clear how oversight would have occurred. In November 2009, Mr. Yar’Adua was hospitalized for heart disease. Six months later, he died.
The NNPC never mentioned it was subsidizing kerosene in budget statements submitted to Nigeria’s central bank from April 2012 to December 2013, according to the recently ousted Central Bank Governor Lamido Sanusi. On those budget statements, including several seen by the Journal, the NNPC put a dash in the column labeled “adjustment for subsidy,” indicating none.
The NNPC hasn’t issued a statement regarding those budget statements. A spokesman didn’t return calls or emails.
– WALLSTREET JOURNAL
Super Eagles Captain, Ahmed Musa has been signed up by Jaiz Bank as a brand ambassador.
An elated Musa made the disclosure in a statement on his verified handle on micro-blogging site, X on Thursday.
The Kano Pillars striker urged his fans to troop to Jaiz Bank to do business for trusting him with the new role.
He exclaimed, “And to my amazing fans – if you want to support me, make sure to head over to Jaiz Bank and open your accounts with them today! ”
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He wrote, “✨Alhamdulillah✨ I am SO excited to announce that I’ve officially joined Jaiz Bank as their newest ambassador! 🎉💼
“A huge thank you to @JaizBankNG for trusting me and allowing me to be a part of this amazing journey! 🙏🏼💚 It’s an honor to represent a brand that believes in growth, security, and financial empowerment.
“I can’t wait to share all the incredible things we’ll be doing together! 🚀💡
And to my amazing fans – if you want to support me, make sure to head over to Jaiz Bank and open your accounts with them today! Let’s grow together! 💪🏼🔑
“@JaizBankNG is a non interest Financial institution poised with a mission to make life better through ethical Finance. 👌👌”
#NewBeginnings #BankWithJaizBank #PartneredUp #TeamJaizBank”
On November 20, 2024, Kenya’s First Lady, Rachel Ruto, celebrated her 56th birthday and her husband President William Ruto publicly expressed his love and appreciation for his wife on this special day, wishing her well.
The birthday celebrations were marked by an outpouring of goodwill from political figures, media, and citizens across Kenya, who praised her for her grace, leadership, and significant contributions to society, particularly through initiatives like the Joyful Women Organisation, which aims to empower rural women.
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The day was characterized by a collective acknowledgment of her role as a national figure dedicated to community upliftment.
In a heartfelt message, President William Ruto took to social media, writing, “Happy birthday my love, @MamaRachelRuto. Continue being a blessing to me and our children. Mungu akubariki sana,” which translates to “God bless you abundantly.”
Other prominent leaders also extended their wishes to the First Lady, with Anne Waiguru, EGH, OGW, Governor of Kirinyaga County, tweeting, “Happy Birthday First Lady,” further showing the respect and admiration for Rachel Ruto’s leadership and impact.
A gas cylinder explosion at a filling station in Jibia Local Government Area of Katsina State has resulted in significant damage to six vehicles, according to a statement from the Katsina State Police Command.
The command’s spokesperson, Abubakar Sadiq-Aliyu, confirmed the incident, which occurred on Friday, November 15, 2024.
He explained that a loud explosion alerted police operatives from the Jibia Divisional Police Headquarters. Responding promptly, the Divisional Police Officer led a team to the site, supported by military personnel.
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“Upon arrival, operatives found a truck loaded with gas cylinders engulfed in flames at Tamal filling station, along Kagadama-Magamar Jibia Road,” Sadiq-Aliyu stated. The joint team acted swiftly, deploying measures to protect lives and limit property damage. Their efforts successfully extinguished the fire.
The spokesperson added, “Six motor vehicles were significantly affected by the fire incident, but fortunately, no life was lost.”
State Commissioner of Police, Aliyu Abubakar-Musa, has directed a thorough investigation to determine the cause of the explosion. Updates on the findings will be provided as investigations progress.
This incident highlights the need for heightened safety measures at gas filling stations to prevent such occurrences.
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