NEWS
IPMAN backtracks, says members will sell PMS at N165 per litre
***Asks Nigerians to stop panic buying
By John Akubo
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has asked Nigerians to stop panic buying the Premium Motor Spirit (PMS) as they will continue to sell the products at the government-approved price of N165 per litre.
The association may have backpedalled on its earlier declaration that it can no longer sell the Premium Motor Spirit (PMS) below N180 per litre as the N165 per litre was no longer feasible.
The National President Elder Chinedu Okoronkwo at a press conference in Abuja on Wednesday said the Statusquo ante must be maintained moving forward since the NNPC and the PPMC have responded positively by releasing products from their tank farms that can sustain the product needs of the country for 32 days
It would be recalled that the Lagos chapter of IPMAN through its secretary, Akeem Balogun on Monday announced it would no longer be able to sell petrol below N180.
They said the decision was taken because its members could no longer operate at a loss.
They said while the government had fixed N165 per litre as the pump price of petrol, the current realities in the market showed that the minimum the product should be retailed at the stations should be N180.
The group advised its members to sell petrol at a sustainable price within their environment.
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However, the National President at the press conference in Abuja acknowledged the position of its members in Lagos saying,
“I told you the cost of doing business has changed and my members in Lagos before they did what they did, called me and told me that they are now getting this product at N162 to N165 per lite with transportation another N8, aggregating to about N170 to N173, even the N10 which supposed to be our own has been eroded, what do we do?
“Now you know and I know that it is only NNPC that imports this product into Nigeria. Some of these tank farm owners who have gone to collect this product don’t blame them because the cost of doing business has also changed.
“It became so difficult for them to sell at N148.17 but yesterday I want to tell you that NNPC and PPMC went to their tank farms and released products.
“That is why we are thanking them that with this product we can now access the product at N148.17
Statusquo ante must be maintained moving forward and from what they have told us they have products that can last us up to 32days.
“We must be happy with that knowing full well the challenges we have globally on Energy that is why we are thanking them.”
He said massive loading if the product is ongoing in Lagos adding that in a matter of days the long queues will fizzle out.
He thanked President Muhammadu Buhari for making available a N4trillion budgetary provision for subsidy, especially with the current global energy problems caused by the ongoing Russian-Ukrainian war.
He said they have engaged a consultant who will go into the books to determine exactly what the Association of Distributors and Transporters Of Petroleum Products (ADITOP) are being owed in terms of bridging claims.
According to Elder Okoronkwo, to mitigate against persistent losses there is collection of N5000 product liability Insurance by the Down Stream Regulatory Authority on behalf of IPMAN
He pleaded in a special way with the Downstream Regulatory Authority to make payments regarding Marketers’ product differentials and Bridging claims to enable their members to continue to be in business as some have been owed such claims for upward of 6 months.
He called on all members to submit their claims and all documentation to the consultant, the Benham Group for review and reconciliation
He expressed appreciation for the tremendous support of the NNPC, PPMC and other government agencies who worked hard to stabilise and smoothen supply of products across the country
In a momentous ceremony marking the 90th birthday of Oba Sikiru Adetona, the esteemed Awujale and paramount ruler of Ijebuland, President Bola Tinubu bestowed upon him the prestigious Grand Commander of Order of Nigeria (GCON).
Held at the Oba Sikiru Adetona School of Governance, Olabisi Onabanjo University, Ago-Iwoye, Ogun State on Friday, the event witnessed Vice President Kashim Shettima representing President Tinubu.
Additionally, the President directed the transfer of management of the revered school to the National Institute of Policy and Strategic Studies, Kuru, Jos, in honor of Oba Sikiru Adetona’s enduring legacy.
President Tinubu hailed Awujale as an exceptional royal figure and a stalwart of Nigerian democracy, revered nationwide for his unwavering commitment to national progress and resilience in confronting challenges.
Details later……. .
Former Kogi State Governor, Alhaji Yahaya Bello, has agreed to appear before the Federal High Court in Abuja for his arraignment on corruption charges filed against him by the Economic and Financial Crimes Commission (EFCC).
Bello’s lead counsel, Abdulwahab Mohammed, assured Justice Emeka Nwite of his client’s willingness to face the court on June 13, following the rejection of a request to suspend the trial.
Mohammed emphasized that Bello is not apprehensive about the arraignment itself but rather concerned for his safety in the custody of the EFCC in Abuja.
He cited consistent threats to Bello’s life in the capital city as the reason for his client’s decision to prioritize personal safety by going underground.
The decision to comply with the court trial was influenced by Justice Nwite’s remarks, affirming the EFCC’s commitment to legal protocols.
The Judge assured that the EFCC operates within legal boundaries, noting Bello’s situation isn’t unprecedented.
Emphasizing the presumption of innocence, Justice Nwite highlighted the unproven nature of the allegations.
He advised Bello’s lawyer to urge his client to respect the court’s authority.
In response, Bello’s counsel thanked the Judge and pledged Bello’s cooperation, relying on the EFCC’s assurance of adherence to due process.
He said “All my client needs is just an assurance for the safety of his life which has been under threat for sometimes in Abuja.”
The lawyer requested a four-week grace period to present his client before the court, stating that Bello would appear in court rather than at the EFCC to enter his plea on the charges.
With no objection from the EFCC counsel, Rotimi Oyedepo SAN, Justice Nwite scheduled June 13 for Bello’s appearance in court to have his plea recorded.
Isa Dogonyaro, a 46-year-old member of the House of Representatives representing Babura/Garki Federal Constituency in Jigawa State, has passed away.
The All Progressives Congress (APC) lawmaker reportedly died in Abuja on Friday following a short illness, according to a statement of condolences released by the House of Representatives spokesperson, Akin Rotimi.
The statement read, “It is with deep sorrow that we announce the passing of Hon Isa Dogonyaro (Kogunan Ringim), the distinguished member representing the Babura/Garki Federal Constituency of Jigawa State in the 10th Assembly of the House of Representatives. Hon Dogonyaro passed away after a brief illness.
“Hon Isa Dogonyaro was a dedicated and passionate legislator who served his constituents and the nation with utmost commitment.
“He was a pillar in the House, contributing significantly to the development of legislation, particularly in the area of HIV/AIDS, Tuberculosis, and Malaria Control, where he served as the Deputy Chairman of the House Committee.
Elected on the platform of the All Progressives Congress, Hon Dogonyaro was known for his integrity, diligence, and unwavering dedication to the welfare of the Nigerian people. His presence will be sorely missed in the hallowed chambers of the House of Representatives.”
The statement emphasized the qualities of the late lawmaker, Hon Isa Dogonyaro, not only as a legislator but also as a commendable Nigerian.
“Hon Isa Dogonyaro was a detribalized patriot who was very jovial as much as he was an intellectual. He built strong bonds of friendship with Honourable members from all parts of the country. He is survived by wives and children.
“In this moment of grief, our thoughts and prayers are with his family, constituents, colleagues, and the people of Jigawa State. We pray for strength and comfort for all who mourn his passing.”
The statement added “Details of his funeral arrangements will be communicated in due course.”
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