News
Federal Government Addresses NNPCL’s Petrol Price Increase
The federal government has responded to the recent increase in petrol prices announced by the Nigerian National Petroleum Company Limited (NNPCL), which has raised the price to N855 per litre.
On Wednesday, Bayo Onanuga, Special Adviser on Media and Strategy to President Bola Tinubu, explained the necessity of the price hike through his official X account. Onanuga attributed the increase to NNPCL’s substantial debt to petrol marketers, a situation stemming from the company’s efforts to shield Nigerian consumers from rising petrol costs.
Onanuga also refuted claims that the government misled citizens regarding the payment of fuel subsidies. He stated, “NNPC has recently highlighted that it can no longer sustain the price differential on its balance sheet without facing insolvency.” He emphasized the broader implications of the situation, noting that NNPCL’s financial difficulties have affected the Federation Account, impacting the ability of all three tiers of government to function effectively.
He further explained that the increase was a necessary measure to ensure the sustainability of NNPCL and the continuity of fuel supply. Onanuga expressed hope that the completion of the Dangote Refinery and other local refineries, including the government-owned Port Harcourt Refinery, would provide significant relief. He suggested that these refineries could improve the local fuel supply chain, create jobs, and benefit the national economy.
“This is the scenario that is unfolding,” Onanuga concluded, “and the game changer and big relief giver may well be the Dangote refinery and other local refineries, which will become the fuel suppliers to the local market.”
News
TCN Acknowledges 7th Grid Collapse in 2024
The Transmission Company of Nigeria (TCN) has reported its seventh partial grid collapse in 2024. Despite the recurring issue, TCN’s General Manager of Public Affairs, Ndidi Mbah, reassured the public that efforts to restore power are well underway, with about 90% of substations receiving bulk power.
Mbah noted that the Azura Power Station initiated the grid recovery, although a minor setback occurred. However, power supply has been restored to the Abuja region and other key distribution centers. The Ibom Gas Generating Station remained unaffected, continuing to supply power to the South-South region.
An investigation into the cause of the collapse will commence once full grid restoration is achieved.
News
Jigawa Tanker Tragedy: Shettima, First Lady Mourn Victims, Pledge Federal Support
Vice President Kashim Shettima has expressed deep sorrow over the tragic tanker explosion in Jigawa State, which claimed over 100 lives. In a statement issued by his media aide, Stanley Nkwocha, Shettima, on behalf of President Bola Tinubu, extended condolences to the affected families, praying for strength and comfort in their time of grief.
Shettima assured the public that the federal government is mobilizing resources to support the injured and assist those affected. He has directed the immediate deployment of the National Emergency Management Agency (NEMA) to provide aid. The Vice President also stressed the need for a review of fuel transportation safety protocols to prevent future incidents.
In a separate statement, First Lady Oluremi Tinubu offered her condolences to Jigawa Governor Umar Namadi and the people of Jigawa, praying for peace and comfort for the families affected. She called the incident “unfortunate” and extended prayers for the recovery of the injured and the repose of the souls lost in the tragedy.
News
Nigeria Customs Intercepts Arms, Ammunition Worth N9.5bn Over Six Years
The Nigeria Customs Service (NCS) has revealed that it intercepted a total of 10,598 pieces of arms and 114,929 rounds of ammunition valued at N9.58 billion over the past six years. Comptroller General of Customs, Bashir Adewale Adeniyi, made this disclosure during a press conference on enforcement activities in Zone A.
Adeniyi highlighted that 60% of these seizures occurred in 2023, reflecting the Customs’ increased efforts to curb arms smuggling. He also mentioned that recent operations such as Operation Whirlwind and Operation Swift Sting are part of a strategic response to tackle evolving smuggling tactics.
In addition to arms seizures, the Customs CG announced the largest pangolin scale seizure since 2020, with 9,493 kg of scales confiscated in collaboration with the Wildlife Justice Commission. The joint operation led to four arrests across Kano, Kaduna, and Lagos. The NCS continues to intensify efforts against wildlife trafficking, targeting supply routes in northern Nigeria and border areas.
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