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NLC, CAN, Others Kick against Fresh Petrol Price Hike, Say NNPCL Can’t Fix Costs
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By Mike Odiakose
Nigeria Labour Congress (NLC) yesterday kicked against the fresh hike in price of petrol and demanded immediate reversal.
According to the NLC, it is an aberration for the Nigerian National Petroleum Company Limited (NNPCL), a private company to fix prices of petrol after deregulation.
NNPCL retail outlets yesterday adjusted their fuel pump price from N897 per liter to N1,030.
This comes weeks after NNPCL increased its fuel pump price to N897 per liter from N617.In a statement by NLC President Joe Ajaero titled “What next after increase in pump price”, the NLC expressed dismay over the fresh fuel hike.
Part of the statement reads: “We are dismayed by the latest increase in the pump price of petrol.
It looks like the only thing this government is known for is the increase in the pump price of petrol without commensurate capacity of Nigerians or mitigatory measures.“Even following the logic of market forces, we find it an aberration that a private company (NNPCL) is the one fixing prices and projecting itself as a hegemonic monopoly. We challenge the government to go to the drawing board and present us with a blueprint for inclusive economic growth and national development instead of this spasmodic ad-hocism and palliative policy.
“It needs no stating the fact that the latest wave of increase has grossly altered the calculations of Nigerians once again at a time they were reluctantly coming to terms with their new realities. It will further deepen poverty as production capacities dip, and more jobs lost with multidimensional negative effects.
“In light of this, we urge the government to immediately reverse this rate hike as previous increases did not produce any good results. People only got poorer. But more fundamentally, the government should be bold enough to tell Nigerians in advance the destination it wants to take the country.”
Reacting to the fresh price hike in price of petrol, petroleum marketers said the Nigerian government has completely removed the subsidy on Premium Motor Spirit (petrol), which is the reason the Nigerian National Petroleum Company Limited increased the price of the product to N1,030 and N998 per litre in Abuja, Federal Capital Territory, and Lagos State.
The spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike disclosed yesterday, “It is a price template that shows that the total deregulation of the oil and gas sector and the implementation of the Petroleum Industry Act have taken off.
“With this, I don’t think there is anything like a subsidy on petroleum products now. NNPCL is now selling as they are buying from Dangote Refinery. NNPCL is no longer a middleman for oil marketers. Marketers are to buy petrol products from Dangote Refinery. It has become a willing buyer, selling relationship. We are embracing the new NNPCL price template.”
He, however, added that NNPCL and Dangote Refinery are yet to release their petrol ex-depot prices, which will determine whether marketers will sell the product.
“Although they have not released their ex-depot prices, we are waiting for NNPCL’s ex-depot prices. Once the ex-depot prices of NNPCL and that of Dangote Refinery are released, we will now choose where to buy our petroleum products and stock our filling stations,” he told DAILY POST.
This comes as a report emerged that Dangote Refinery had increased its petrol price to N977 per liter from N898, according to industrial sources familiar with the development.
Other stakeholders who frowned at the new price include prominent Nigerians and leaders of religious organisations.
They called on President Bola Tinubu to take swift action to ease the excruciating economic burden on Nigerians.
The Nigerian Baptist Ministers Conference, at its 64th edition held in Kaduna on Wednesday decried the latest price increase.
Speaking during the event, the President of the Baptist Conference, Rev. Israel Akanji, called for relief measures, urging the government to slow the pace of its reforms to reduce the burden on citizens.
Akanji noted that high fuel prices drive up the cost of essential goods like food, housing, and education.
Also reacting to the development, a former chairman of the Kaduna State chapter of the Christian Association of Nigeria (CAN), Rev. Joseph John Hayab, bemoaned the severe impact of recent fuel price hikes on everyday life.
Hayab expressed concerns over the lingering threat of insecurity in the country, despite some progress against terrorism and banditry.
He urged the government to intensify efforts to restore peace and security by eradicating the remaining terrorists and bandits across the nation.
Similarly, rights activist and public affairs commentator, Shehu Sani lamented the prevailing economic challenges brought about the reforms introduced by the Tinubu administration.
Sani, who represented the Kaduna Central district in the 8th Senate, urged those in positions of authority to lead by example sharing in the sacrifices they have imposed on Nigerians
He noted that the burden of the administration’s economic reforms is being borne disproportionately by poor Nigerians.
“We are a nation of 224 million people facing serious economic challenges. Leaders—whether in the presidency, ministries, or the legislature—must lead by example and make personal sacrifices for the greater good,” Sani said.Nigerians, especially low income earners have contributed to grapple with the incessant fuel price hike and the crushing effects of broader economic challenges.
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Abiola Won June 12 Election, Babangida Admits
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By Mike Odiakose, Abuja
About 32 years after the annulment of the June 12, 1993 presidential election, former military president, General Ibrahim Badamasi has admitted that Chief Moshood Kashimawo Olawale Abiola won the election.
The revelation was contained in Babangida’s autobiography which was unveiled in Abuja yesterday.
Babangida admitted that Abiola also satisfied all the requirements to be president of Nigeria at the time.
He said the annulment of the election was a most regrettable incident in the country’s history.
Babangida disclosed the outcome of the June 12 presidential election in his book, “A Journey in Service; An autobiography of Ibrahim Babangida” according to the book reviewer, Prof Yemi Osinbajo.
“I have had to contend with this question all the time—when will you tell your side of the story?
“Understandably, our period of service has evoked many questions and stories among the public.
”This book, which chronicles my experiences, decisions, and challenges, tries to answer some of these questions from my modest perspective,” he said.
Babangida highlighted the reforms and challenges his government faced, particularly on the economy, foreign affairs, defence and national security.
He noted that inspite of the sacrifices and inconveniences endured by Nigerians during his tenure; his administration was committed to leaving the country better than it was.
Babangida acknowledged the significance of the June 12 election, widely regarded as Nigeria’s freest and fairest at the time.
He, however, expressed regret that his administration, which had designed the electoral system that produced such a credible process, ultimately failed to complete it.
“That accident of history is most regrettable.
” The nation is entitled to expect my expression of regret.
“As the leader of the military administration, I accept full responsibility for all decisions taken under my watch, and June 12 happened under my watch.
“Mistakes, oversight, and missteps happened in quick succession, but as I state in my book, in all matters, we acted in the supreme national interest so that Nigeria could survive,” he said.
He acknowledged that his administration’s actions disrupted the nation’s transition to civilian rule but emphasised that the country ultimately overcame the setback.
Babangida said the country’s march to democracy was interrupted, adding that he deeply regretted this.
Osinbajo quoted Babangida in the book as saying that subsequent reviews showed that Abiola won the election and met the requirements to be elected president. Babangida, however, did not give any reason for not restoring the mandate given to Abiola.
While the book observed the June 12 election saga as the greatest crisis that his administration faced, the former Nigerian leader in the book cited the OIC saga, the Lagos plane crash that killed more than 100 plane officers.
Babangida also expressed satisfaction that former President Muhammadu Buhari posthumously recognized Abiola’s victory by awarding him the prestigious Grand Commander of the Federal Republic (GCFR) title, which is reserved for presidents.
The unveiling ceremony also witnessed a fund raising ceremony for the IBB Presidential Library.
The occasion drew out all living former Nigerian leaders with the notable exception of General Muhammadu Buhari who was represented.
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Shettima, Dangote, Govs Lead Guests as DAILY ASSET Hosts Annual Awards Today
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By David Torough, Abuja
Vice President, Senator Kashim Shettima, Africa’s richest man and President, Dangote Industries Plc, Alhaji Aliko Dangote will lead eminent Nigerians today to receive honours at DAILY ASSET 8th Annual Awards ceremony, which holds at the NICON Luxury Hotel, Abuja.
Governor of Benue State, Rev Fr Hyacinth Iormem Alia will be Chairman at the event, where former Governor of Bayelsa State and Senator representing Bayelsa West Senatorial District, Senator Henry Seriake Dickson will be guest speaker.
at the 8th DAILY ASSET Annual Awards and Lecture, which holds Friday at NICON Luxury
Senator Dickson, who was Guest Speaker at the 5th Edition of the Annual Awards will return this year also to interrogate some of Nigeria’s challenges as a nation-state and also point the way forward.
Shettima will receive the ward of the Newspaper’s ‘Man of the Year,’
while Business Mogul and Africa’s richest man and Philanthropist, Alhaji Aliko will also receive the highest award of ‘Nigerian Achiever of the Year’at the occasion.
Also on the list of awards recipients are Governors of Kaduna State, Senator Uba Sani; Kebbi State, Dr Nasir Idris; Kogi state , Alhaji Usman Ododo and Plateau state, Barr Caleb Mutfwang, who will honoured as Governors of the year in Health; Agriculture, Infrastructure and Workers Welfare; Education and Political Leadership respectively.
Deputy Speaker, House of Representatives, Hon Benjamin Kalu who was named Legislator of the Year will aso be honoured.
Managing Director of Jos Electricity Distribution Company( JED), Engr Abdu Bello Mohammed was selected for Chief Executive Officer of the Year; Managing Director of Access Bank Plc, Roosevelt Ogbonna was chosen for Banker of the Year award, while Vice Chancellor of Al- Ansar University, Maiduguri, Prof Abubakar Musa Kundiri emerged as Vice Chancellor of the Year.
In other categories, Former First Lady of Kebbi State and Founder of Medicaid Foundation Abuja, Dr Zainab Bagudu, who was selected for the award of Philanthropist of the year in recognition of her work against Cancer in Nigeria will also be honourd at the high profile event.
Similarly, Chartered Accountant and IT expert, Alhaji Hamisu Idris Medugu was selected for the award of Professional of the Year ( ICT) and will share the award with President of the Nigerian Institute of Public Relations ( NIPR), Dr Ike Neliaku for Public Relations.
On the list of award recipients also is Zenith Bank Plc, which emerged ‘ Banker of the Year, ‘ while the Comptroller General of Nigeria Customs Service (NCS), Alhaji Bashir Adewale Adeniyi and Commandant General of Nigeria Security and Civil Defence Corps( NSCDC), Dr Ibrahim Audi were named by the Editorial Board as joint winners in the ‘Public Servant of the Year’ category.
The Editorial Board of DAILY ASSET had in the paper’s edition of December 18, 2024 announced the names of its annual award winners in various categories.
Publisher /Editor-in-Chief of DAILY ASSET, Dr Cletus Akwaya in a statement last night in Abuja said this year’s event different from previous editions as incorporated some concerns by members of the public.
” We are conscious of the fact that a lot of people look forward to this annual event. We have therefore, deepened the arrangements to ensure that participants and award recipients are properly hosted” the statement said adding ” we are getting bigger and better with each passing year”.
The statement urged members of the public to turn out in large numbers to identify with the celebrants at the occasion..
“The essence of these awards is to publicly celebrate excellence and acknowledge the various contributions of the award recipients to the development of the country” the statement added.
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Dangote is Committed to Operational Sustainability, Says Bandir
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By David Torough, Abuja
The Pan-African Conglomerate, Dangote Group has re-emphasized its commitment to sustainable practices in its operations across the nation.
The declaration came against the background of its partnership with the Kaduna Chamber of Commerce and Industry (KADCCIMA) in the ongoing 2025 Kaduna International Trade. Spokesperson for Dangote Industries Limited (DIL), Anthony Chiejina who is the Group Chief Branding & Communication Officer while speaking with newsmen on the participation of the Group at the Fair said the company is irrevocably committed to sustainability because the well-being of the people is at the center of its operations. He spoke just as the speakers at a Conference organized by the KADCCIMA at the fair thumbed up the investment activities of the Company across sectors and the need for the government to deliberately put in policies aimed at encouraging local entrepreneurs.The Guest speaker at the Conference and the former Secretary to Adamawa State Government, Dr. Umar Buba Bindir, advocated for consistency in Government policies in supporting initiatives such as the establishment of Dangote Petroleum Refinery as a brand from Nigeria to blossom.He described Aliko Dangote’s courage and commitment to the realization of the project in Nigeria as “a Global Groundbreaker”.”Like I said during the presentation of my paper, government policies must be consistent in supporting local entrepreneurs, local production, and value addition to businesses to take Nigeria to the next level.”It is incredible for Dangote to have put up such a refinery. It is a global groundbreaker and for him to sustain his effort, and for coming across to Nigerians as someone who is dogged enough to even challenge the cartel that we know in Oil and Gas is incredible”. Dr. Bindir said though Dangote refinery is in a free trade zone, it is however, a business strategy by the foremost entrepreneur who must have taken cognizance of its feasibility and realized the opportunities there.Bindir, an Agricultural Engineer said Dangote has the capability to make an impact in Steel Development in the Country. According to him, “There is no Country that has sprouted and unleashed its entrepreneurial energy in manufacturing that has not gone into Steel industry, and Dangote’s intervention in the sector would contribute to growth and development of the industry.”I think he should go into the Steel industry because this Country with 250m people that require food, water, education, jobs for young people, infrastructure, export, particularly to African countries cannot be supported without a vibrant steel industry.”And as someone who is well vast in industry, who can secure finances or investment in this area, and is internationally recognized in China, India and other countries where this industry is highly developed, with the doggedness and endurance that he has demonstrated in oil and gas, the cartel, and inconsistent government policies. I think it will be easier with the Steel industry.