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Channel Oil Windfall to Domestic Refineries – TUC to Tinubu

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TUC Accuses FG of Squandering $9.5bn on Comatose Refineries

The Trade Union Congress of Nigeria (TUC) has urged the Federal Government to deploy excess crude oil revenue to subsidise local refineries, warning that failure to act could push the price of Premium Motor Spirit (PMS) to as high as N2,000 per litre.

TUC President, Festus Osifo, made the call during a press briefing in Abuja on Thursday, highlighting the strain rising fuel costs are placing on Nigerian workers.

“The persistent increase in petrol prices, driven by global crude volatility and naira depreciation, is worsening economic hardship for workers across the country,” Osifo said.

He attributed the surge partly to international tensions involving the United States, Israel, and Iran, which have disrupted global oil supply, and warned that the weakening naira is compounding inflationary pressures and eroding the real value of salaries.

To address the crisis, Osifo proposed that the government channel at least 60 percent of excess crude revenue—generated when international oil prices exceed the 2024 budget benchmark of $64.85 per barrel—into subsidising crude supplied to domestic refineries, including the Dangote Refinery and other modular facilities.

ALSO READ: Benin Gets New CNG Station Courtesy of Tetracore Energy

He explained: “Even if government-owned refineries are fully operational, petrol prices may not drop significantly unless crude supply is subsidised. Selling crude at international rates to local refineries still results in high pump prices.”

Osifo also called for stabilising the naira, noting that exchange rate stability would reduce the cost of imported energy and other goods. He reiterated TUC’s support for the commercialisation of state-owned refineries, stressing that reducing government interference could improve efficiency and profitability in the sector.

Addressing alternative energy, the TUC president expressed concern over the slow development of Compressed Natural Gas (CNG) infrastructure, acknowledging the policy’s potential but warning that its short-term impact remains limited due to inadequate refuelling facilities.

On national security, Osifo lamented the persistent insecurity across Nigeria, emphasizing that no meaningful development can occur in an unsafe environment. While commending the efforts of the armed forces, police, and intelligence agencies, he urged the government to equip security operatives with modern tools, intelligence, and technology to tackle insurgency and criminality more effectively.

On labour matters, Osifo noted the intense pressure facing workers in both public and private sectors.

He revealed ongoing discussions around wage reviews and collective bargaining agreements to align with current economic realities, stressing the need for broader interventions to protect workers from inflation and rising living costs.

“The cost of petrol is heading towards N2,000 per litre, depending on your location. It has deeply affected the purchasing power of Nigerian workers,” Osifo said.

“Let the government take at least 60 percent of excess crude revenue and use it to subsidise crude supplied to refineries. Subsidising production directly ensures immediate reduction in petrol prices.”

TUC plans to formally communicate its proposals to the Federal Government, including the Presidency, to ensure prompt implementation of measures to ease the hardship facing Nigerians.

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2027 Elections: C’ River Slaps Presidential Candidates With N150m, Govs N100m Ad Fee

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The Cross River State Signage and Advertisement Agency (CRISSAA) has fixed N150 million as the tariff for outdoor campaign advertisements by presidential candidates ahead of the 2027 general elections.

Under the new tariff, governorship candidates will pay N100 million, while senatorial candidates, House of Representatives candidates and State House of Assembly candidates are expected to pay N50 million, N25 million and N5 million, respectively.

SEE MORE: JUST IN: Former Cross River Gov Donald Duke Defects To ADC

The Director-General of CRISSAA, Ubong Sam, disclosed the rates during an interactive session with the Inter-Party Advisory Council (IPAC) in Calabar.

Sam said the tariffs were moderate compared with what obtains in neighbouring states, adding that CRISSAA had introduced measures to regulate advertising spaces and ensure fairness among political parties and candidates.

“We have tried to regulate advert space, by not allowing anybody to insult the integrity of anybody or party, by being fair in all ramifications, by giving advertisers opportunity to either dialogue or arbitration and not necessarily by litigation,” he said.

The CRISSAA boss also directed political parties to remove their campaign billboards and other advertising materials within 30 days after the announcement of election results.

According to him, campaign materials left beyond the 30-day period would be considered a nuisance.

“Immediately after each election, at the expiration when results are announced, political parties are given 30 days to take off their campaign materials. Once it’s beyond 30 days, the advert materials become a nuisance,” Sam said.

He warned that defaulters could have their campaign materials removed, pay fines or face prosecution before the Advertising Regulatory Council of Nigeria (ARCON).

While IPAC state chairman, Effiom Edet, backed the tariffs and described them as fair, some political parties rejected the charges.

The state chairman of the Action Democratic Party and the Publicity Secretary of the Peoples Democratic Party (PDP) described the tariffs as outrageous and exorbitant, arguing that they could prevent less financially buoyant parties from using billboards to publicise their campaigns.

PDP spokesman, Mike Ojisi, said he was not part of any IPAC meeting where the tariffs were agreed.

“The tariff is outrageous, exorbitant and a ploy to prevent other political parties from carrying out massive publicity through billboards. The tariff is totally unacceptable,” he said.

The new charges are expected to fuel further debate among political parties and stakeholders as preparations intensify ahead of the 2027 general elections.

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‘Retract Your Claims or Face ₦10bn Suit’ — Adeleke’s Campaign Spokesman Warns Fadahunsi

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Osun Osogbo celebration begins

Pelumi Olajengbesi, spokesman for Osun State Governor Ademola Adeleke’s re-election campaign, has threatened to institute a ₦10 billion defamation suit against Senator Francis Fadahunsi over alleged defamatory statements.

Olajengbesi, through his lawyer, Hammed Lasisi, Esq., issued the threat in a letter dated August 12, 2026, demanding that the senator retract the statements and issue an unequivocal public apology within 24 hours.

The lawyer said the statements were made by Fadahunsi during television interviews on Viable TV on July 2 and Channels Television’s Politics Today on August 11.

SEE MORE: Osun 2026: Rising Violence Sparks Fear of Voter Apathy Ahead of Gov Poll

According to the letter, Fadahunsi allegedly questioned Olajengbesi’s identity and origin, stating that he was “not even from the same Ijebu-Jesha” and was “from somewhere in Ogun State.”

The senator also allegedly accused the campaign spokesman of “using thugs, Eiye and Aye.”

Olajengbesi’s lawyer argued that the remarks suggested that his client sponsored, associated with or deployed thugs and members of the Eiye and Aye cult groups for political activities.

The letter further cited Fadahunsi’s appearance on Politics Today, where he allegedly said of the late Ajayi Aderogba, popularly known as Rogba: “Rogba is an Eiye man sponsored by Barr. Olajengbesi terrorising the whole … my own territory up and down through all these Eiye and Aye.”

Olajengbesi denied the allegations, describing them as false, defamatory and injurious to his personal, professional and political reputation.

He maintained that he had never sponsored, financed, supported or patronised any cult group or its members for criminal, political or unlawful activities.

He also denied authorising anyone to terrorise, intimidate or attack members of the public on his behalf.

According to his lawyer, the allegation of sponsoring cultists and persons involved in acts of terror amounted to an accusation of criminal conduct and was particularly damaging to Olajengbesi as a legal practitioner and public figure.

The campaign spokesman has therefore demanded that Fadahunsi retract the alleged defamatory statements through the same media and social media platforms where they were published or disseminated.

He also demanded an “unequivocal and unreserved public apology” through appropriate national and social media platforms.

The lawyer warned that failure to comply within 24 hours would prompt Olajengbesi to approach the court to seek ₦10 billion in general and aggravated damages for defamation and injurious falsehood.

The dispute comes amid heightened political activities ahead of the 2026 Osun governorship election.

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Lake Kariba Tragedy: 44 Die as Overcrowded Ferry Capsizes

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NEMA recovers 13 more bodies from Lagos boat accident

At least 44 people have died after an overcrowded ferry capsized on Zimbabwe’s Lake Kariba, with authorities continuing the search for possible survivors and missing passengers.

The ferry, operated by the Rural Infrastructure Development Agency, overturned on Tuesday while carrying 114 adult passengers, five crew members and an unspecified number of children.

According to Zimbabwe’s Civil Protection Unit, the vessel had a capacity of 90 people, indicating that it was carrying more passengers than its stated limit.

SEE ALSO: Tragedy In Jigawa As Boat Capsizes, Claims Nine Lives

Authorities initially reported that 77 people had been rescued and 15 bodies recovered. However, the Zimbabwe Republic Police later announced on Wednesday that the death toll had risen to 44.

“The ZRP informs the public that the death toll in the Kariba RIDA boat accident is now 44,” the police said in a statement posted on X.

A witness, Maxton Kanhema, told AFP that the ferry had departed in bad weather and may have been hit by a strong wave, causing its engines to switch off.

He said rescuers responded after a distress signal was seen and that bodies could be seen in the water.

“People were in distress… There were bodies in the water, and it was a sad situation to witness. Those that could be rescued were rescued,” Kanhema said.

A national park provided a helicopter to support the rescue operation, while larger boats, local divers and soldiers also joined the search.

The Civil Protection Unit said a specialised aquatic rescue team had been airlifted to the area. The 77 rescued passengers were taken to Long Island, located in the middle of the lake.

Two funeral parlours were also engaged to collect the recovered bodies as the search continued for anyone still unaccounted for.

The ferry serves communities between the northern town of Kariba and several islands and fishing villages around Lake Kariba.

Lake Kariba, which lies along the border between Zimbabwe and Zambia, is more than 300 kilometres northeast of Zimbabwe’s capital, Harare. It is the world’s largest man-made lake by volume.

The incident is one of the worst recorded passenger boat disasters on Lake Kariba.

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