FG Insists On N165 Per Litre For Petrol

 

The Federal Government has said that the pump price of Premium Motor Spirit (PMS) remains N165 per litre across all filling stations nationwide.

This was made known by the Executive Director, Distribution Systems, Storage and Retail Infrastructure, NMDPRA, Mr. Ugbugo Ukoha, in Lagos.

In a similar development, The Independent Petroleum Marketers Association of Nigeria (IPMAN) says it has resolved to maintain the status quo ante, even as the Nigerian National Petroleum Corporation (NNPC) and the Pipeline and Product Marketing Company (PPMC) responded positively to the association’s request by releasing products from their tank farms that can last 32 days.’

IPMAN’s National President, Chinedu Okoronkwo, said this at a briefing in Abuja on Wednesday.

Airlines Threaten To Shutdown Services On Monday Over Price Of Jet Fuel

A file photo of the Murtala Muhammed International Airport.
A file photo of the Murtala Muhammed International Airport.

 

The Airline Operators of Nigeria have announced suspension of their operations from Monday, May 9, following a rise in cost of jet A1 and other costs.

The airlines – Azman Air, Max Air, United Nigeria Airways, Ibom Air, Arik Air, Air Peace, Dana Air and Overland Airways – made this known in a letter addressed to the Minister of Aviation, Hadi Sirika while copying the Director General of the Nigerian Civil Aviation Authority, Captain Musa Nuhu.

Aviation fuel price (JetA1) has risen from N190 per litre to N700 and the airlines have revolted, stressing that no airline in the world can absorb the astronomical hike.

READ ALSO: Airline Operators Threaten To Sue FG

The airlines said with the current fuel hike, it has increased its fuel cost component from 40% to 95% in Nigeria and also affected the cost of a seat per head which should be at least N120,000.

The operators appealed to passengers for understanding as the situation is currently biting.

 

See full statement below:

AIRLINE OPERATORS TO SHUT DOWN OPERATIONS AMIDST HIGH COST OF JETA1, SYMPATHISE WITH PASSENGERS

Lagos; May 6, 2022. It is with a great sense of responsibility and patriotism that the Airline Operators of Nigeria (AON) have carried on deploying and subsidizing their services to our highly esteemed Nigerian flying public in the last four months despite the steady and astronomical hike in the price of JetA1 and other operating costs.

Overtime, aviation fuel price (JetA1) has risen from N190 per litre to N700 currently. No airline in the world can absorb this kind of sudden shock from such an astronomical rise over a short period. While aviation fuel worldwide is said to cost about 40% of an airline’s operating cost globally, the present hike has shut up Nigeria’s operating cost to about 95%.

In the face of this, airlines have engaged the Federal Government, the National Assembly, NNPC and Oil Marketers with the view to bringing the cost of JetA1 down which has currently made the unit cost per seat for a one hour flight in Nigeria today to an average of N120,000. The latter cannot be fully passed to passengers who are already experiencing a lot of difficulties.

While AON appreciates the efforts of the current government under the leadership of President Muhammadu Buhari to ensure air transport in Nigeria grows, unfortunately, the cost of aviation fuel has continued to rise unabated thereby creating huge pressure on the sustainability of operations and financial viability of the airlines. This is unsustainable and the airlines can no longer absorb the pressure.

To this end therefore, the Airline Operators of Nigeria (AON) hereby wishes to regrettably inform the general public that member airlines will discontinue operations nationwide with effect from Monday May 9, 2022 until further notice.

AON uses this medium to humbly state that we regret any inconveniences this very difficult decision might cause and appeal to travelers to kindly reconsider their travel itinerary and make alternative arrangements.

Signed:
Alhaji (Dr.) Abdulmunaf Yunusa Sarina
President

Jointly signed by:
1. Alhaji Shehu Wada – Executive Director, Max Air 2. Dr. Obiora Okonkwo – Chairman, United Nigeria Airlines
3. Capt. Mfon Udom – CEO, Ibom Air 4. Capt. Roy Ilegbodu – CEO, Arik Air
5. Capt. Abdullahi Mahmood – CEO, Aero Contractors 6. Alhaji Faisal Abdulmunaf – MD, Azman Air
7. Capt. Edward Boyo – CEO, Overland Airways 8. Mr. Sukh Mann – Deputy CEO, Dana Air
9. Barr. Allen Onyema, Chairman, Air Peace

CC: Honourable Minister of Aviation
DG, Nigerian Civil Aviation Authority

 

Lagos To Probe Incident Of Petrol Souvenir At Party

Screenshot from viral video shared on social media showing kegs of fuel distributed as a souvenir at a party in Lagos on Friday, March 4, 2022.

 

The Lagos State Government has announced that it is investigating a viral video showing kegs of petrol handed out as souvenirs at an event centre in Lagos.

Lagos State Commissioner of Information and Strategy, Gbenga Omotoso, made this known in a statement on Saturday.

“There is no doubt that this action is dangerous and can lead to loss of lives and property.  It is blatantly against all safety measures in such places,” he said.

READ ALSO: Tesla Finally Gets Green Light To Start Production In Germany

The Commissioner explained that the situation is being investigated by Lagos State Government through the Safety Commission @safety_lasg.

He added that the government will ensure that all parties to this reprehensible action are made to account for it.

“The safety of lives and properties of Lagosians and visitors remain a top priority to the Governor @jidesanwoolu administration. We, therefore, advise that actions that can lead to loss of lives and properties be avoided,” the commissioner added.

Long queues have persisted at filling stations in major parts of the country including the commercial capital, Lagos State.

This has led to a hike in the cost of fuel with some motorists buying at the cost of over N200 per litre.

Following the fuel scarcity, transport fares have also increased with commuters groaning.

Strike: Give Us More Time To Negotiate, Gbajabiamila Pleads With NLC

 

The Speaker of the House of Representatives, Femi Gbajabiamila, on Sunday implored the Nigerian Labour Congress, and the Trade Union Congress to give room for enough time for negotiations with the executive arm of government over the proposed industrial action initially scheduled to commence on Monday.

The Speaker made the appeal while meeting with the President of the NLC, Ayuba Wabba, and the President of the TUC, Quadri Olaleye, in his office on Sunday.

He expressed concerns over the consequences of a shutdown of the nation’s socio-economic activities on Nigerians, while disclosing his intentions to interface with the executive for a possible amicable resolution of the demands of the Labour unions.

The labour unions had threatened to embark on industrial action from Monday if their demands for the reversal of the increase in electricity tariff and Premium Motor Split (PMS) were not met.

But the Speaker said it is incumbent upon the House as elected representatives to see how they can intervene and perhaps a third voice, would be able to broker some kind of amicable solution to the ongoing impasse while citing instances where the House had successfully intervened.

He later met with the Vice President, Professor Yemi Osinbajo and the Secretary to the Government of the Federation Boss Mustapha, to deliberate on the outcome of his meeting with the labour leaders.

 

Monday Mass Protest: Gbajabiamila Meets With NLC

 

 

The labour leaders later on, went into a meeting with the Federal Government which commenced at 7:00 pm and continued till late into the night.

The outcome of the meeting will determine whether or not the strike will hold.

Fuel, Electricity Hike: Protesters Urge Lawmakers To Intervene

 

A group of protesters on Wednesday staged a protest at the entrance of the National Assembly complex in Abuja, calling on the lawmakers to prevail on the executive arm of government to reverse the recent hike in electricity tariff and the pump price of petrol.

The protesters numbering about a dozen carried placards with inscriptions rejecting the new hike and as well calling a pay cut for politicians instead of subsidy removal.

The protesters insist that the recent hike in the price of fuel and electricity tariff has led to unbearable inflation in prices of foodstuffs and services such as transportation.

A photo collage of the protesters at the main entrance of the National Assembly complex on Wednesday, September 16, 2020.

 

Nwokoro Ejike, FCT Chairman, Committee for Defense Of Human Rights, who spoke on behalf of the protesters described the fuel and electricity hike as illogical.

“It is illogical to increase fuel price and electricity tariff at such a time like this when the masses are suffering. We reject this!. We are asking our government if they truly serve us. If they truly lead us they should ensure that these prices are reversed immediately.”

He concluded that Nigerians will only feel the impact of government if these demands are met.

Fuel Hike: Police Arrest Protesters In Lagos

 

Some protesters expressing their displeasure over the recent petrol and electricity tariff hike have been arrested by officers of the police force in Lagos. 

The arrest took place on Thursday at the Ojuelegba area of the metropolis where the demonstrators were staging a protest.

Also arrested alongside the protesters were some journalists.


Protest Rocks Ibadan Over Hike In Fuel Price, Electricity Tariff

Outburst Over Fuel Price Increase Understandable But Misplaced, Says NNPC GMD

If We Truly Deregulated, Then Fuel Prices Should Have Dropped – Atiku


There are claims that over fifteen people have been arrested in connection with the march.

More details as regards the situation is expected to come in shortly.

APC Governors To Meet With President Buhari Over Fuel Hike, Electricity Tariffs

Report Any Station Selling Petrol Above N145, NNPC Tells Nigerians

 

The All progressives Governors Forum are set to meet with President Muhammadu Buhari to plead with him over the increase in fuel price as well as electricity tariff.

The Jigawa State Governor, Badaru Abubakar, disclosed this in an interview with newsmen on Tuesday in Dutse, the state Capital.

Fielding questions from our reporters, the governor said he would not say anything with regards to the increase until the outcome of the meeting.


RELATED

Protest Rocks Ibadan Over Hike In Fuel Price, Electricity Tariff

Market Forces To Now Determine Price Of Petrol, FG Reiterates


“We have concluded plans to meet with President Muhammadu Buhari to discuss on the possible review of the price of fuel and that of electricity. But I’ll reserve my comments to the outcome of the meeting,” Governor Abubakar said.

The Federal Government has increased the pump price of petrol to N151.56 although most filling stations are currently selling at N160 and above.

This has caused uproar in Jigawa and other parts of the country.

Earlier in the day, students and civil society groups embarked on a peaceful protest in Ibadan, the Oyo State capital.

The students under the umbrella of the National Association of Nigerian Students (NANS) and National Association of Polytechnic Students (NAPS), condemned the recent increases, stating that it is not in the best interest of Nigerians.

Armed with placards carrying various inscriptions expressing their frustration at the increment, the protesters urged the Federal Government to revert the policies in the best interest of the country.

The protesters marched through Bodija and environs and ended the procession at the Federal Secretariat, where they addressed the press on the reason behind their agitation.

“We say no to fuel hike, we say no to increment in electricity tariff and other increments that affect Nigerian students and the masses.

“We have over 200 polytechnic campuses in Nigeria that are at home and angry that schools are closed,” a representative of polytechnic students, Olalere Opatunji, told Channels Television.

Nigerians Pay More For Fuel As Depot Price Hits N151.56

Report Any Station Selling Petrol Above N145, NNPC Tells Nigerians
A file photo of a nozzle pump.

 

Petrol stations across the country increased the price of Premium Motor Spirit, popularly known as petrol,  on Thursday.

The prices ranged from between N155 and N162 per litre, Channels Television correspondents across the country observed.

The increase was triggered after the product’s depot price was increased on Wednesday from N138.62 to N151.56, according to an internal memo from the Pipelines and Product Marketing Company (PPMC).

The PPMC is a subsidiary of the Nigerian National Petroleum Corporation (NNPC).

According to the memo, the new product price adjustment will take effect from September 2.

However, it did not state the Expected Open Market Price of the commodity.

Meanwhile, the Minority Caucus in the House of Representatives has rejected the increase in the pump price.

“This is because such increase will directly result in more hardship on our citizens, particularly at this critical time when majority of Nigerians, across the country, are struggling to survive under the burden of high cost of living and low purchasing power occasioned by the prevailing economic challenges,” the Caucus said in a statement signed by Minority Leader, Ndidi Elumelu.

The Peoples Democratic Party (PDP) has also rejected the price increase.

Monthly Change

In March, the Petroleum Products Pricing Regulatory Agency (PPPRA), a federal government agency, said it will start the modulation of petroleum products prices on a monthly basis from April 1.

PPPRA Executive Secretary, Mr Abdulkadir Saidu, at a press conference, said the price modulation will be determined by market forces, including the price of crude oil.

The PPPRA said it will hold several engagements with petroleum marketers in a bid to secure their buy-in as the prices of their products fluctuate based on market forces.

The prices have alternated since then every month.

Arewa Youths Demand Reversal Of Petrol Pump Price, Threaten Mass Protest

File photo

 

A coalition of Northern Youth Organizations has condemned the increase of the pump price of petrol to N143 per litre.

The group is demanding for the immediate reversal of the new pump price.

Addressing a joint news conference in Kaduna, National President of Northern Youth Council , Isah Abubakar and Chairman Nigeria Citizen Action Group, Mohammed Danlamin, said increasing pump price of petrol at a time when nations are doing more to aide her citizens out of the post COVID-19 pandemic is highly insensitive, callous and ridiculous.

According to the northern youths, the major stakeholders in government who led President Muhammadu Buhari administration to hike the price of oil, should resign voluntarily because their action had the potential of inciting Nigerians against the government.

They group however threatens to mobilize Nigerians for a nationwide protest on Tuesday, July 14th, If the Federal government fails to reverse the pump price of petrol.

Fuel Crisis: Imo Residents Groan Over Hike In Fuel Price

fuelResidents of Owerri in Imo State have continued to groan over the hike in the price of premium motor spirit also known as petrol as most marketers within the region sell at prices higher than the Federal Government approved price of 87 naira per litre.

A visit to some filling stations, the meter read above 87 naira. Some 97 naira, 100 naira and 115 naira per litre of petrol, and this has not gone well with consumers as they appealed to Federal Government to intervene as soon as possible.

However, the Independent Petroleum Marketers, at a joint meeting between petroleum marketers in Imo and Abia State in the south-east, have disclosed that reasons why they sell at higher prices is due to non-availability of fuel at the government approved fuel depots in the South-East and South-South.

The Zonal Chairman of the petroleum marketers in Aba and Imo unit, Bobby Eberedick, explained that this has led them to buy from private fuel depots where they sell higher than the government approved prices.

They appealed to the Nigerian National Petroleum Corporation (NNPC) and the DRP to compel the private fuel depots to sell at the Federal Government approved price so it can be made available to consumers at the Federal Government approved price of 87 naira per litre.

They also threatened that if the Federal Government through the NNPC and DRP does intervene in the issue of pricing at the private depots, they would not have any other option than to close down their stations nationwide.

Mr Eberedick also complained about the continuous harassment of Federal Government agencies on selling at prices higher than the government approved price.