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BREAKING: Nigeria increases Petrol price to N151.56 per litre
ABUJA-The Petroleum Products Marketing Company (PPMC) has increased the ex-depot price of Premium Motor Spirit, also known as petrol, to N151.56 per litre from N138.62 per litre.
The PPMC is a subsidiary of the state-owned Nigerian National Petroleum Corporation, NNPC, and currently imports almost all of Nigeria’s petrol.
According to an internal memo made available to marketers and other stakeholders, the new directive becomes effective September 2.
“Please be informed that a new product price adjustment has been effected on our payment platform,” the memo said.
“To this end, the price of Premium Motor Spirit is now one hundred and fifty one naira, fifty-six kobo (N151.56) per litre.”
The ex-depot price is the price at which the product is sold to marketers at the depots.
The memo was signed by D.O Abalaka, the depot manager.
Lamenting the increase, a depot owner stated that his depot would not sell for less than N155.60 to marketers and other filling stations.
“To buy each litre, you pay draft of N2 on each litre, you pay union dues, and of course you have to make a profit,” the depot owner said on Wednesday, asking not to be named as he had no permission of his union to speak to journalists.
-Premium Times
In Lagos State’s Federal High Court, businessman and socialite Pascal Okechukwu, widely known as Cubana Chief Priest, was granted bail of N10 million with two sureties in like sum on Wednesday.
During his trial, he pleaded not guilty to charges of tampering and abusing the naira.
Cubana Chief Priest appeared before Justice Kehinde Ogundare facing three counts related to the alleged abuse of the national currency by spraying and tampering with it at a social event on February 13, 2024, at Eko Hotel, which is contrary to the provisions of the Central Bank Act of 2007.
At a social gathering, Cubana Chief Priest reportedly engaged in the offenses while dancing, manipulating funds in N500 notes issued by the CBN by spraying them continuously for two hours.
Okechukwu Pascal, popularly known as Cubana Chief Priest, was arraigned by the Economic and Financial Crimes Commission (EFCC) on Wednesday for alleged naira Abuse.
At the Federal High Court in Lagos, he pleaded not guilty to three charges brought against him.
His legal team is currently presenting arguments for his bail application, requesting the court to grant him bail under favorable conditions.
Charge filed against Cubana Chief Priest below
COUNT 1: That you. OKECHUKWU PASCAL on 13th February 2024,at Eko Hotel Victoria island. Lagos, within the juridition of this Honourable Court.
“whilst dancing during a social event, tampered with funds in the denomination of N500 (Five Hundred Nara) Issued by the Central Bank of Nigeria by spraying it,and you thereby committed an offence contrary to and punishable under section 21(1) of the Central Bank Act.2007.
COUNT 2: That you,OKECHUKWU PASCAL sometime in 2020, in Lagos within the juridition of this Honourable Court,during a social event tampered with funds in the denomination of N500 (Five Hundred Naira) issued by the Central Bank of Nigeria by spraying same for two hours,and you thereby committed an offence contrary to and punishable under section 21(1) of the Central Bank Act. 2007.
COUNT 3: That you,OKECHUKWU PASCAL sometime In January 2024,in Lagos.withih the juridition of this Honourable Court,during a social event tampered with funds in the denomination of N500 [Five Hundred Naira issued by the Central Bank of Nigeria by spraying same,ond rou thereby committed on offence contrary to and punishable under section 21(1) of the Central Bank Act, 2007.
More to follow……
Sylvester Oromoni (Senior), father of the late 12-year-old Dowen College student Sylvester Oromoni (Junior), has contested the findings of the Coroner regarding his son’s death.
The Coroner, Magistrate Mikhail Kadiri, concluded after a lengthy session on Monday that the boy’s passing was due to natural causes, but also highlighted parental and medical neglect as contributing factors.
Despite this ruling, Sylvester Oromoni (Senior) expressed disagreement during an appearance on Channels Television’s Sunrise Daily programme on Tuesday, dismissing the Coroner’s decision as an opinion rather than a satisfactory judgment.
He said “My son died on the 30th day of November 2021. We’ve been in court for two years plus but the judgment given yesterday does not represent the true evidence given in court. I go to court every day. I’ve never missed any day.”
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