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Fuel Price: Ex-MOMAN Boss Cautions Against Speculation 

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Mr Tunji Oyebanji, former Chairman, Major Oil Marketers Association of Nigeria (MOMAN), has cautioned Nigerians, especially marketers against speculations over petroleum pump price.

Oyetunji said this in an interview on Friday in Lagos.

He was reacting to a recent statement Mr Mike Osatuyi, National Controller Operations, Independent Petroleum Marketers Association of Nigeria (IPMAN), that the pump price would go increase to N700 per litter.

Osatuyi on June 28 projected that prices could rise to above N700 per liter in the north once independent marketers start importing the products from July.

Oyebanji said that no marketer could speculate the fuel pump price until importation of the product starts.

Oyebanji, also the Managing Director, 11 Plc, said: “It depends on the exchange rate. If those factors are changing, prices of those products will also change.

“As you know, at a time, diesel went up significantly at above N800 per litter, but now it has come down to within N600 to N620 per litter.

“So, once you are in a deregulated environment, that is how it is, especially when you are importing the product.

“I can not project price of petrol for now until we import the product.”

According to Oyebanji, at some point, the projection is speculation.

“Not until you order a cargo, know the exchange rates, before you can predict the price.

”Those projecting the price are just saying this on sensational basis to get marketers excited.

”I do not think anybody needs to do that.

“If there’s a certainty; if you are observing the exchange rates, you will see that it is getting worse. if the price at the international market is also going up, then, you see how those things are being affected and that is how the price comes in.

“We can not mitigate prices, people will have to adjust their spending accordingly and priories their choice,” he added.

Oyebanji, however, added that the price could also be reduced, depending on the exchange rate.

“The bottom line is that there will be an adjustment in price. Yes, it may go up and can also drop, depending on the exchange rate.

“But the good thing is that products will be everywhere. if people see that yours is more expensive than those of the filling stations around them, they will not patronise you. Then, you will be forced to bring down prices so that customers can come and buy.

“There will be healthy competition and which is good for the market,” he said.

Meanwhile, Osatuyi said, fuel being sold by marketers such as DAPPMAN, IPMAN and MOMAN are old stock

“Nobody has imported new products from the new foreign exchange regime and on the new deregulation.

“Marketers are just planning to import, so, everybody is in a transition pricing to the new regime. (NAN)

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Auto Crash Claims Two in Bayelsa

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From Mike Tayese, Yenagoa

Two persons, a tricycle driver and his passenger (woman) were killed in a fatal road accident, along the Glory Drive roundabout, Etegwe, Yenagoa in Bayelsa State.

The multiple road crash, involving a Mack truck, a Silver colour salon car and a commercial tricycle popularly known as Keke Napep, which occurred Wednesday around 2.

05pm left others injured.

According to eyewitnesses, the truck was at high speed when the driver lost control and rammed into the tricycle causing multiple crashes.

“The driver was moving too fast, and by the time he tried to swerve, it was already too late. The Keke had no chance,” said a trader, who witnessed the crash.

“The Keke driver and his passenger died on the spot, while others in the saloon car sustained injuries.

“The violent impact left the tricycle badly mangled. Good Samaritans rushed to the scene, pulling survivors from the wreckage and transporting the injured to the Federal Medical Centre, Yenagoa.

The bodies of the deceased were later evacuated and deposited at the morgue of the FMC while the truck driver is in police custody.

A Senior Officer of the Federal Road Safety Corps (FRSC) in Bayelsa, who spoke anonymously confirmed the accident.

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NDLEA Arrests 40,887, Seizes 5.5mkg Drugs in Two Years

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The National Drug Law Enforcement Agency (NDLEA) said it arrested 40,887 drug offenders, including 45 barons, and seized over 5.5 million kilograms of illicit substances in two years.

NDLEA Chairman, retired Brig. Gen. Buba Marwa, disclosed this in his welcome address during the inauguration of 48 new vehicles for strategic commands and formations on Wednesday in Abuja.

He said that in two years of President Bola Tinubu’s administration, the NDLEA had recorded remarkable successes across the 36 states and the Federal Capital Territory.

 “We have arrested 40,887 drug offenders, including 45 barons, leading to the seizure of more than 5.5 million kilogrammes of assorted illicit substances.

“These were recovered from our streets, communities, warehouses, border routes, and ports nationwide, with 704.445 hectares of cannabis farms, hidden deep in forests, destroyed,” Marwa said.

He said the agency secured the conviction of 8,682 traffickers and kingpins, with assets forfeited to the Federal Government, sending a clear message that drug crimes attract legal consequences.

Marwa said 24,173 drug users had been treated and rehabilitated in 30 rehabilitation centres located across the country within the same period.

He added that 8,698 War Against Drug Abuse (WADA) sensitisation activities were held in schools, worship centres, workplaces, motor parks, and communities to prevent substance abuse.

“These clearly created a fair balance between our drug supply reduction and drug demand reduction efforts,” he stated.

Marwa said the agency’s achievements reflected both the resilience of its personnel and its growing operational capacity nationwide.

He noted that the fight against illicit drugs was far from over, with the illicit drug economy exploiting vulnerable youths, porous borders, and sometimes complicit actors.

“To remain effective, our response must evolve with sharper intelligence, stronger community engagement, and improved mobility and logistics,” he said.

Marwa stressed that tackling substance abuse and illicit drug trafficking was crucial to national security, as they fuel several violent crimes in the country.

 “The link is undeniable: kidnapping, armed robbery, insurgency, and cult violence are all fuelled by illicit substances.

 “Drug trafficking emboldens perpetrators, strips moral restraint, and replaces hope with recklessness,” he said.

Attorney General of the Federation and Minister of Justice, Prince Lateef Fagbemi, commended President Tinubu for enabling NDLEA’s recorded successes under Marwa’s leadership in the last two years.

He noted the close connection between drug trafficking and other crimes, adding that illicit drugs embolden criminals, who appear ordinary once the influence wears off.

“That is why attention ought to be given to this fight. When I follow NDLEA activities, I am always very pleased,” Fagbemi said.

Chief of Defence Staff, Gen. Christopher Musa, lauded NDLEA’s courage, professionalism, and resilience in tackling threats posed by drugs in challenging conditions.

Musa said the new operational vehicles would significantly enhance the agency’s capacity and effectiveness in the fight against drug trafficking and substance abuse nationwide.

Director-General of the Bureau of Public Procurement, Dr Adebowale Adedokun, congratulated President Tinubu for appointing competent leaders like Marwa to key national agencies.

Adedokun said the vehicles were procured through due process and met the required standards, commending NDLEA as a model for other government agencies.

No fewer than 15 newly promoted Commanders of Narcotics were decorated with their new rank of Assistant Commander General.

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NOA to Begin Nationwide Campaign on Govt Policies, Values

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The National Orientation Agency (NOA) said it will begin a two-week nationwide sensitisation campaign on Aug. 20 to enlighten Nigerians on government’s policies, national values, disaster preparedness, security awareness and national identity.

The Director-General of NOA, Malam Lanre Issa-Onilu, disclosed this at a news conference in Abuja on Wednesday.

The DG said nearly 4,000 personnel would be engaged to implement the campaign through its 818 offices across the 774 local government areas in the country.

According to him, this will focus on an enlightenment campaign on national value reorientation for Nigerian students, Nigerian identity project and respect for national symbols.

“This is not just a campaign; it is a coordinated national awakening that touches the heart of our identity, safety, values and development.

“NOA personnel would engage students, teachers and administrators on value-based citizenship, while also promoting respect for national symbols such as the flag, anthem, currency and constitution, ” Issa-Onilu said.

According to him, the initiative will promote accurate information on government reforms, including the student loan scheme, tax reforms, subsidy removal and foreign exchange parity.

On disaster preparedness, he said the campaign would provide community-specific information on weather patterns to guide farmers and residents in flood-prone areas.

He said the agency would also work with security agencies to promote vigilance, encourage timely intelligence sharing and build trust between citizens and law enforcement.

The DG said the campaign would involve media partnerships with over 200 broadcast stations, dissemination of information in 72 local languages, and the distribution of Information, Education and Communication (IEC) materials in English and major Nigerian languages.

He added that the agency would activate its toll-free line 7747 and work with more than 300 social media influencers to reach young Nigerians.

Issa-Onilu called on the media, traditional rulers, religious leaders, civil society groups, student bodies and other stakeholders to support the campaign.

“Let us use these two weeks to ignite the spirit of patriotism, vigilance, unity and responsibility that will carry us into a safer, stronger and more united Nigeria,” he said.

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