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Petrol Price Hike: Agency Suspends 4 Outlets over Adulterated Products in Anambra

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The Nigeria Midstream and Downstream Petroleum Regulatory Agency (NMDPRA) has suspended operations of four filling stations in Anambra over suspected delivery of bad Premium Motor Spirit (PMS) at the outlets.

Mr Victor Orjiakor, Operations Controller of NMDPRA in Anambra said this in Awka on Wednesday.

The News Agency of Nigeria (NAN) reports that price of PMS has increased between N162 and N165 per litre to between N190 and N200 per litre in Awka and some parts of the state.

Orjiakor said the proactive surveillance checks suggested that the products delivered to the filling stations might have been lifted from the depots that received the ‘methanol contaminated’ PMS consignment which entered the country last month.

He said samples had been collected from the outlets for laboratory testing and that in the meantime, they would not be allowed to sell the suspected unwholesome product to customers.

According to him, the downstream sector in Anambra is healthy, there is no bad product in circulation here.

“We track every truck coming into the state, we don’t have any NNPC depot facilities in Anambra; we crosscheck every product coming in through Enugu and Aba depots and with that we were able to discover four stations that received suspected adulterated PMS,” he said.

Orjiakor condemned the artificial increase in the price of PMS saying teams of the agency were on round the clock surveillance across the state to ensure marketers sold at the industry approved range of N162 and N165 per litre.

He said there was no official increase in the price of products at the depots and that marketers who flouted the price regulation and compromised their pumps would be made to face the law.

He however, said that product supply in Anambra was satisfactory in spite of the prevailing inadequacies in general supply adding that the agency was working to ensure that there was no scarcity.

Orjiakor said the NMDPRA was the only agency established by law to regulate the petroleum industry and warned any group including security agencies to stop going to filling stations to harass marketers in the name of enforcement.

The Operations Controller said, “we are the only regulator in Nigeria and we are doing it diligently, round the clock, no other organisation is authorised by law to regulate anything.

“Anybody doing so is on illegal duty and is not acceptable to us and can never be.

“Part of our strategy is that we enlighten marketers that we are the only organisation that regulate their activities and also tell them to stand up and tell these people that they don’t have the right, when they come to their outlets.

“However, in the course of activities we may have to call for their services but we must lead the team, nobody should threaten marketers.

“We are managing price control and product availability pending when the current supply gap is bridged and we are doing that with a blend of advocacy and enforcement,” he said.

Orjiakor said NMDPRA was serious on ensuring that marketers operated within the industry rules by using the right pumps and putting in place standard safety precautions with well trained staff.(NAN)

NEWS

Job Losses: 483,464 Nigerians Withdraw N247.47 Billion from Their RSAs

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By Tony Obiechina, Abuja

A total of 483,464 Nigerians have withdrawn N247.47 billion from their Retirement Savings Accounts (RSAs) in the second quarter of 2024 due to job losses. According to data from the National Pension Commission (PenCom), this withdrawal represents 25% of their pension savings and highlights the impact of the rising cost of doing business in Nigeria, leading to widespread unemployment.

The Chief Executive Officer of the Pension Funds Operators Association of Nigeria (PenOp), Ogwuche Aguda made the disclosures during the 2024 annual conference of the Pension Correspondents Association of Nigeria (PenCAN) held in Abuja.
Aguda also provided an update on the contributory pension scheme, noting that contributions from both the public and private sectors rose to N5.
72 trillion in Q2 2024, while total pension assets reached N20.87 trillion as of the same period.The withdrawal in Q2 2024 significantly exceeds the N182.2 billion withdrawn by 443,720 RSA holders in Q3 2022, reflecting the deteriorating economic conditions, attributed by critics to faulty policies implemented by the current administration.Aguda further revealed that N169.67 billion, representing 0.81 per cent of total assets, was invested in infrastructure as of July 2024. Additionally, N2.16 trillion, or 10.35% of total assets, was invested in the equity market, while N2.25 trillion was channelled into corporate debt in the second quarter of 2024.Aguda commended the Contributory Pension Scheme (CPS) for its transformative impact on pension management in Nigeria, describing it as a shift from a broken system to one that is transparent and reliable.However, the National Union of Pensioners criticised the 2004 Pension Reform Act for failing to address key issues, including the periodic adjustment of pensions for retirees. The union claims this shortcoming has driven the Nigeria Police Force to seek an exit from the CPS.”The new scheme can be better if we address its challenges. There has been no increment for years, which is why the Police and other stakeholders want to leave the scheme,” said Bunmi Olukolade, the union’s publicity secretary, during the PENCAN event. He stated that lack of adequate post-retirement support has led many to engage in corrupt practices to secure financial stability in old age, adding that “If pensioners are well cared for after service, agencies like the ICPC and EFCC would have less work to do”.Meanwhile, PenCom has reassured Nigerians that the federal government’s outstanding pension liabilities under the CPS will soon be cleared. PenCom’s Director-General, Mrs. Omolola Bridget Oloworaran, disclosed that the commission has successfully computed the backlog of pension liabilities. Represented by the head of Corporate Communications, Ibrahim Buwai, Oloworaran at the event, she emphasised that efforts are underway to resolve the issue swiftly. “This matter will soon be behind us,” Buwai assured, reaffirming the government’s commitment to addressing the outstanding arrears.She said RSA holders can now use a portion of their pension savings as equity contributions for residential mortgages. “This initiative has already empowered over 5,000 workers to achieve homeownership, with N47.13 billion disbursed as equity contributions from their RSAs to mortgage lenders”, he added.

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Edo Governorship Election: Okpebholo Remains Our Candidate – APC

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The All Progressives Congress (APC) says Sen. Monday Okpebholo remains its governorship candidate in Saturday’s governorship election in Edo.Mr Felix Morka, the party’sNational Publicity Secretary made the party’s position clear in a statement issued in Abuja.Morka said the clarification became necessary following fake news thatOkpebholo had been disqualified by a magistrate court.

“In the final hours to the Edogubernatorial election scheduled to hold Saturday, Sept.
21, 2024, certain political parties have desperately resorted to forgery and disinformation on our candidate.“The blackmail is to the extent of circulating a fake magistrate court ruling purportedly disqualifying Sen.
Okpebholo, the APC gubernatorial candidate in the election.“The circulated ruling is fake, a fabrication and an act of pure desperation in the face of their imminent defeat at the polls,” Morka said.He said the magistrate court that purportedly issued the fake ruling had issued a disclaimer, stating categorically that it did not emanate from him.Morka added that the fake ruling meant to sow seeds of doubt about the APC candidate, was a blatant and calculated attempt to subvert the will of the Edo electorate.“We call on our law enforcement agencies to identify, investigate and bring the perpetrators of this falsehood to book,” he said.He, therefore, urged Edo voters to remain vigilant and resolute in the exercise of their democratic rights at the polls.He expressed trust that Edo people would ignore this and other illegal devices by desperate candidates and their parties to subvert the election.“Sen. Monday Okpebholo is and remains, the standard bearer of the APC in Edo gubernatorial election,” Morka stated. (NAN)

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Nigeria Condemns Terrorist Attack on Military Airport in Mali

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The Federal Government has condemned the terrorist attack on the military airport in Bamako, Mali.Amb. Eche Abu-Obe, Spokesperson for the Ministry of Foreign Affairs, disclosed the Nigerian government’s position in a statement on Saturday. Eche said, “The Federal Republic of Nigeria strongly condemns the abominable terrorist attack that took place on Tuesday, Sept.

17, 2024, targeting a military airport, training Centre and other sensitive locations in Bamako, Mali.
“This heinous act, which has claimed lives and caused destruction of several military aircraft, is yet another stark reminder of the persistent threat posed by extremist groups in the region.“It must be emphasised that acts of terrorism, regardless of where they occur, represent a threat to peace and security for the entire region.
“Nigeria extends its deepest condolences to the government and people of Mali, particularly to the families of those who lost their lives. “Our thoughts and prayers are with the victims of this tragic incident.” (NAN)

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