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Nigerian Marketers Delve Into Self-Regulation on PMS

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Nigerian Marketers Delve Into Self-Regulation on PMS

 

By Edozie Obasi-Eze

There are strong indications that marketers of petroleum products in various parts of Nigeria have embraced self-regulation of the prices of premium motor spirit, popular in the country, as petrol.

Nigerian Marketers Delve Into Self-Regulation on PMSThe product now sells at different prices at different locations, even within the same state, at the discretion of the marketer.

Facts from Ebonyi, Enugu, Anambra, Delta and Edo States show that PMS is being sold at between N230-N259 per litre, at the discretion of the management of each petrol station.

This is coming amidst the confession of the group managing director of the Nigerian National Petroleum Company Limited, Mele Kyari that the corporation was losing grip on enforcing the N170 per litre price across Nigeria.

Concerned citizens aver that the authorities have cast consumers between the devil and the deep blue sea with tough choices between either outright scarcity or cut-throat prices.

A commercial vehicle operator, Clinton Obaje, while lamenting the situation warned that if stable product prices can only be guaranteed in Lagos and Abuja, it would tempt people to “ferry petrol on surface tanks from those places to other parts of the country, with attendant risks.”

According to Obaje, if people are guaranteed that they can make as much as between N50 and N100 per litre if they buy from filling stations in Abuja or Lagos to resell in other parts of the country, the temptation to carry the product along with other things, including humans, would be very high.

“The government,” Obaje noted, “must understand that the entire economic activity of mankind revolves around profit making. So, if people know that on the same journey, they would be compelled to refuel at different prices, they are bound to look for ways of saving costs, irrespective of the attendant risks.

He called on the government to consider the risks involved in unregulated vehicles conveying highly inflammable fuels because marketers are now self-regulating across Nigeria.

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JUST IN: Fear As Oyo Destroys Shops In Popular Ibadan Market

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Locals and traders have became frightened after the government demolished numerous shops and kiosks in the famed Ojoo market in the Akinyele Local Government Area of Oyo State on Thursday.

Biztellers gathered that the traders were handed a quit notice by the Ministry of Lands, Housing, and Urban Development a long time ago, but they refused to vacate the market.

The Chairman of the market, Muhdeen Ganiyu, fondly called Elewedu, however, told our correspondent that the quit notice was too short but the executive members of all the affected markers would meet after the demolition exercise.

“The quit notice was too short. All executive members of all the affected markers will soon meet. So, I cannot say anything for now,” he stated.

When contacted, the Commissioner for Lands, Housing and Urban Development, Williams Akin-Funmilayo, confirmed the ongoing demolition exercise.

He said, “The State Governor, Seyi Makinde, had gone there personally to address them. The government will provide another place. That place is dangerous. And the new place is not far. Just at the front of the Barracks.”

Additional images from the demolition:

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VIDEO: Nigerian Man Spends 23 Hours Buried Alive In Coffin

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Young C, a Nigerian man, has been buried alive in a coffin for twenty-three hours.

On Thursday, he posted an update on his Instagram account saying, “Guys, I am still alive, I am still fine, I am okay. A lot of you might think something has happened, but nothing has happened, I am fine.

Breathing heavily he said, “My problem is just that I have run out of water, I might be forced to drink this (my urine). Guys, I am fine.”

Young C had embarked on this daring challenge on Wednesday, announcing his intention to be buried alive for 24 hours.

He shared a video on his Instagram account, emphasizing that the stunt was genuine and not a hoax. He also announced his plan to broadcast live footage from the coffin at night.

In an earlier update, Young C revealed that he had been buried for over 8 hours and was experiencing physical discomfort, including excessive sweating.

He shared a video from the coffin, showing his camera and light still functioning, and expressed his determination to complete the challenge.

This accomplishment brings to mind another challenge that American YouTuber MrBeast (Jimmy Donaldson) undertook two years ago to raise awareness about deforestation. In that challenge, he buried himself alive for fifty hours.

He overcame both physical and mental obstacles to finish the task and was ultimately exhumed, warning onlookers not to attempt such exploits since they could be dangerous.

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Court Grants N100m Bail To Sirika, Daughter In N2.7bn Fraud Case

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Former Minister of Aviation and Aerospace, Hadi Abubakar Sirika, along with his daughter, Fatimah Hadi Sirika, and son-in-law, Jalal Hamma, secured bail from the Federal Capital Territory High Court in Abuja.

This follows their indictment by the Economic and Financial Crimes Commission (EFCC) for their alleged involvement in a N2.7bn fraud tied to the Nigerian Air project.

The defendants, including Sirika and his family members, vehemently denied the charges during their appearance before Justice Sylvanus Orji, who granted them bail pending further legal proceedings.

Recall that Sirika faces a 6-count amended criminal charge before Justice Oriji, where the prosecution counsel, Rotimi Jacobs SAN, presented an amended charge by the EFCC dated May 7 and filed on May 8.

This amendment was unopposed by the defendants’ counsel. Lead counsel Kanu Agabi (SAN), representing Sirika, submitted his client’s bail application dated May 6 during the proceedings.

The remaining defendants also filed their bail applications, urging the court for leniency in setting the bail terms.

Prosecutor Jacobs highlighted that all defendants were on administrative bail and requested bail conditions ensuring their presence for trial.

Following arguments from both sides, Justice Orji granted bail to each defendant in the amount of ₦100 million, requiring two sureties for each.

Furthermore, the judge stipulated that one surety must possess a landed property with valid land titles within the Federal Capital Territory.

Additionally, the sureties must provide an affidavit of means..

The defendants were restricted from leaving the country without the court’s permission, with the consequence of non-compliance being detention in a correctional facility.

He said, “I admit the 1st, 2nd and 3rd defendant to bail in the sum of 100 million each with 2 sureties of like sum.

“One of the sureties must have a landed property within the Federal Capital Territory. The defendants must not travel outside the country.

“Any of them who is unable to fulfil the bail conditions will be remanded in the correctional centre.” he added

The trial dates were set for June 10th, 11th, and 20th, marking the next steps in the legal proceedings.

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