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Fuel Crisis Looms As NCSCN Urges Dangote Refinery To Address Fuel Pricing, Supply Issues

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The controversy between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPC Ltd) has drawn significant attention due to the conflicting reports about the pricing of Premium Motor Spirit (PMS) and supply levels.

The National Civil Society Council of Nigeria (NCSCN), led by Executive Director Blessing Akinlosotu, has demanded transparency from Dangote Refinery on the issue, urging the company to clarify its pricing structure and supply volume.

The controversy began when NNPCL claimed it had purchased PMS from Dangote Refinery at an inflated price of N898 per liter, a claim the refinery has since denied.

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In response, NNPCL has published estimated PMS prices for its retail stations across the country, intensifying the dispute.

“We are deeply concerned about the conflicting reports from Dangote Refinery and NNPCL,” said Blessing Akinlosotu, Executive Director of NCSCN.

“Nigerians deserve to know the truth about the actual costs and pricing of PMS. We urge Dangote Refinery to come forward and provide the necessary clarifications.”

The NCSCN has expressed its support for NNPCL’s firm stance against what it perceives as potential exploitation.

Akinlosotu emphasized that the council will continue to closely monitor the situation, ensuring that Nigerians’ interests are fully protected.

Fuel supply concerns have also emerged, as Dangote Refinery has reportedly failed to meet NNPCL’s daily demand for 25 million liters of PMS, supplying only 16.8 million liters.

This shortfall has raised alarms about a potential disruption in Nigeria’s fuel supply chain, which could lead to scarcity and increased prices at the pump.

“This shortage poses a serious risk to the nation’s fuel supply chain,” Akinlosotu warned. “Dangote Refinery must take responsibility and ensure Nigerians have access to affordable fuel by meeting the required supply.”

A key point of contention raised by NCSCN is Dangote Refinery’s apparent delay in setting its PMS prices, despite the deregulated nature of the market.

The civil society council questioned why the refinery appears to be awaiting a deal with NNPCL instead of allowing market forces to determine the price.

“Why is Dangote Refinery waiting for a deal with NNPCL to fix PMS prices in a deregulated market?” Akinlosotu questioned, adding that Nigerians deserve transparency on the pricing of domestic crude and how it aligns with global market trends.

Industry experts have weighed in on the issue, emphasizing the importance of transparency in Nigeria’s oil and gas sector.

Dr. Muda Yusuf, Director-General of the Lagos Chamber of Commerce and Industry, said the dispute highlights the urgent need for stronger regulatory oversight in the industry.

Meanwhile, Auwal Musa Rafsanjani, Executive Director of the Civil Society Legislative Advocacy Centre, described the situation as a “wake-up call” for the sector to prioritize transparency and accountability.

As the controversy unfolds, the NCSCN is calling on Dangote Refinery to publicly refute NNPCL’s allegations regarding pricing and supply issues.

The civil society council insists that the refinery must disclose exactly how much PMS has been released to NNPCL, the price at which it was sold, and how future pricing will be determined based on market realities.

“Nigerians will not tolerate any attempt to exploit them,” Akinlosotu declared. “We will continue to advocate for their rights and ensure that the truth comes to light.”

With tensions rising, the NCSCN has urged the government to intervene and ensure that Nigerians are not unfairly burdened by disputes between major players in the oil industry.

The council vowed to keep advocating for greater transparency and regulatory oversight to protect the public interest as the situation develops.

NEWS

N1.7trn Loan: Atiku Blames NASS For Worsening Nigeria’s Debt Burden

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Former Vice President, Atiku Abubakar has criticized the federal government’s plan to secure an additional N1.7 trillion loan through Eurobonds to cover a shortfall in the 2024 budget, describing the borrowing as unsustainable and harmful to Nigeria’s economy.

In a statement shared on Thursday via his X (formerly Twitter) handle, Atiku accused the Bola Tinubu-led administration of burdening Nigerians with debt while failing to provide clear answers about the country’s fiscal challenges.

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He also faulted the National Assembly for enabling what he called a “voracious appetite” for loans.

The former Peoples Democratic Party (PDP) presidential candidate expressed alarm over a recent World Bank report ranking Nigeria as the third most indebted country to the International Development Association (IDA), calling the development troubling.

“The recent report released by the World Bank, showing Nigeria as the third most indebted country to the International Development Association (IDA), is very concerning,” Atiku stated.

He raised further concerns about the government’s decision to benchmark the proposed loan at an exchange rate of 1 USD to N800, despite the Central Bank of Nigeria’s official rate being over N1,600.

“What makes this particular loan proposal even more concerning is that it is benchmarked at the exchange rate of 1 USD to N800, whereas the current exchange rate from the Central Bank of Nigeria stands at over N1,600 to 1 USD,” he said.

Atiku questioned the need for additional borrowing, given the government’s earlier claims of record-high revenue collection.

“In July this year, Tinubu boasted that the FIRS and Customs under his watch had collected all-time high revenues to finance the budget. Why are they still borrowing?” he said

He accused the government of a lack of transparency, describing the borrowing spree as detrimental to Nigerians already struggling under economic hardship.

“There is something that they are not telling Nigerians, even as they are being crushed by a combination of their failed trial-and-error policies and loan rackets.”

Atiku also referenced a report by BudgIT, a budget monitoring group, which criticized the 2024 budget for its inefficiencies.

He alleged that corruption, rather than infrastructure or development needs, was driving the government’s borrowing decisions.

“These loans are powered by corruption and not for infrastructure and development needs. This voracious appetite for humongous loans is deeply concerning,” he said.

Reflecting on Nigeria’s financial history, Atiku lamented the return to significant foreign indebtedness just years after former President Olusegun Obasanjo’s administration cleared the country’s debt.

“It is agonizing to see that just a few years after the Obasanjo administration took us out of foreign indebtedness, we are today back at the top spot in the same conundrum,” he stated.

He called for a more cautious approach to borrowing, urging the government to prioritize fiscal responsibility and transparency to avoid worsening Nigeria’s economic challenges.

 

 

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International News

ICC Issues Arrest Warrants For Israeli Prime Minister Netanyahu, Others

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The International Criminal Court (ICC) has taken a historic step, issuing arrest warrants for Israeli Prime Minister Benjamin Netanyahu and former Defense Minister Yoav Gallant.

The charges include crimes against humanity and war crimes allegedly committed during Israel’s recent assault on Gaza.

In a detailed statement, the ICC accused the Israeli leaders of “intentionally and knowingly depriving the civilian population in Gaza of objects indispensable to their survival, including food, water, and medicine and medical supplies, as well as fuel and electricity.”

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The ICC’s move marks a significant escalation in international scrutiny of the Israeli-Palestinian conflict. Netanyahu and Gallant are alleged to have orchestrated policies that caused severe harm to the civilian population in Gaza, leading to widespread condemnation from human rights organizations.

Alongside the charges against Israeli officials, the ICC also issued an arrest warrant for Hamas military commander Mohammed Deif. Deif has long been a central figure in Hamas’s military operations. Israel’s military claims to have killed him in a July airstrike, although this has not been independently verified.

The warrants highlight growing calls for accountability amid the ongoing conflict in the region. The ICC’s actions are likely to provoke heated debate and may complicate diplomatic efforts aimed at resolving the crisis.

With the warrants issued, global attention now turns to how the international community will respond and whether any practical steps will be taken to enforce them.

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NEWS

Edo State Governor Sets Up Committee To Recover Missing Gov’t Vehicles

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Governor Monday Okpebholo of Edo State has inaugurated a 12-member committee tasked with recovering government vehicles reportedly in private hands.

The committee, led by Kelly Okungbowa, has been given a two-week mandate to retrieve the vehicles and ensure their return to the state government.

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Speaking during the inauguration ceremony in Benin City, Governor Okpebholo emphasized the importance of accountability in the management of public resources.

He urged the committee to carry out its assignment thoroughly and within the bounds of the law.

In his response, Okungbowa expressed gratitude to the governor for entrusting the team with the assignment, vowing to deliver results within the stipulated timeframe.

“A lot of vehicles used by the past administration are missing, as those in custody of the vehicles have refused to return them,” Okungbowa said.

“The governor deemed it fit to inaugurate us today with a mandate to recover all government vehicles in private hands.”

The committee, which includes representatives from Edo’s three senatorial districts, is set to investigate and recover the vehicles based on credible intelligence already at their disposal.

“We already have vital information regarding some persons still holding government vehicles,” Okungbowa stated. “We will do the job according to the law, and both the government and the people will be satisfied with the outcome.”

He also called on members of the public to assist the committee by providing information about any government vehicles that may still be in private possession.

“We want to appeal to members of the public who might be aware of anyone still keeping government vehicles in their houses to please inform us to enable the committee to recover such for the Edo State Government,” Okungbowa said.

The committee’s vice chairman, Rt. Hon. Victor Edoror, a former Speaker of the Edo State House of Assembly, will work alongside other members to ensure the success of the initiative. The public can reach the committee at 08110165121.

 

 

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