Tag: Fuel Scarcity

  • NMDPRA addresses fuel scarcity scare

    NMDPRA addresses fuel scarcity scare

    The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has assured Nigerians and motorists that there is no need for panic buying of fuel, as there is enough stock available.

    Mr Ayo Cardoso, Coordinator, South-West Region of NMDPRA, gave the assurance in an interview on Tuesday in Lagos State.

    Cardoso, who said there was no fuel shortage, urged the public against engaging in panic buying as a result of long queues in the Lagos metropolis.

    According to him, to address the ongoing queues in Lagos, NMDPRA is actively monitoring and investigating the causes.

    Mr Tunji Oyebanji, CEO of 11 Plc, also confirmed that there was an adequate stock of fuel available.

    He mentioned that the delay in lifting fuel from the depot might be due to the recently concluded Surulere Federal Constituency 1 election on Feb. 3.

    Mr Hammed Fashola, the National Vice Chairman of the Independent Petroleum Marketers Association of Nigeria (IPMAN), suggested that the queues might be attributed to panic buying by customers rather than an actual shortage of fuel.

    He said: “Some marketers could not lift fuel on Saturday due to the election, but the queue will be normalised before Thursday.

    “I am not in Lagos as we speak. But I heard about it too that there are queues in Lagos. It may just be panic buying. I am not sure there is fuel scarcity,” Fashola said.

    Meanwhile, some marketers who prefers not to be mentioned told NAN that the increase in forex also contributed to the ongoing queues.

    They claimed that marketers are battling with the current dollar rate of N1,550 to a dollar, which makes it difficult to import fuel.

    According to them, it is only NNPCL that can import petrol at this rate and no marketers can cope with the present reality of foreign exchange

    A correspondents, who monitored some fuel stations within Lagos, reports that there was traffic gridlock in some parts of Lagos on Tuesday due to the queues.

    Motorists formed long queues outside the forecourts of filling stations, such as NNPCL, Mobil and Conoil along the Ikorodu road axis, which appeared as fresh scarcity of fuel.

    Also, at the Total filling station at the Mobolaji Bank Anthony Way and Northwest at Gbagada,  queues led to heavy tariff around the Ikeja and Gbagada axis respectively.

    Motorists endured an unusual heavy gridlock, due to long queue of motorists waiting to buy petrol at filling stations.

    It was also noticed that many of the filling stations along the Ikeja axis, through Obafemi Awolowo Road in Ikeja and Ikorodu road were shut.

    Meanwhile, some motorists had begun to hike the prices of their fares due to the development.

    A commercial transport operator, plying the Ikeja- Costain axis, told our correspondents that he was forced to hike his fees after waiting for hours to buy fuel.

    The commercial transport operator, who prefers anonymity, said, “Do you know how long it took me to buy fuel today? Anybody who doesn’t want to enter should stay out.”

    It was observed that all the filling stations along Ogunnusi Road inbound Berger did not sell petrol to customers.

    It was also gathered that the queues were noticeable in major filling stations considered to be selling at lower rates.

    Meanwhile, a number of filling stations owned by the Nigerian National Petroleum Company Ltd.,(NNPC), along the Lagos-Ibadan Expressway,  did not dispense fuel too.

  • Petrol stations shut down as scarcity, long queues hit Ibadan

    Petrol stations shut down as scarcity, long queues hit Ibadan

    Ibadan the Oyo state capital has been hit with fuel scarcity as long queues of cars, commercial buses, tricycles and motorcycles are visible at many  petroleum stations across towns within the city.

    Findings show that the ancient city has been experiencing scarcity of the commodity for the past few days.

    It was gathered that  some petroleum stations have shut their gates against prospective customers since Sunday.

    Olodo, Monatan, Iyana Church, Iwo Road, Agodi gate, Mokola, Dugbe, Iyaganku, Bodija, Sango and Apete are the most hit.

    However, petroleum stations belonging to independent marketers have been shut down, while only few of them that opened for business have increased their pump prices.

    Findings show that petroleum stations that belonged to major marketers and are still maintaining their pump prices are currently experiencing long queues.

    Fuel

  • Fuel scarcity: Queues won’t exceed Saturday – NNPC

    Fuel scarcity: Queues won’t exceed Saturday – NNPC

    The Nigerian National Petroleum Company Limited (NNPCL), has said that the fuel queues being witnessed across the country will not exceed Saturday (3rd June).

    The NNPC Group Chief Executive Officer, Mele Kyari, disclosed this during an interview on Channels on Thursday.

    He said: “I don’t see it staying beyond another day or two, maximum. It can actually be on Saturday. We have supplies. The key trouble with the PMS system is supply, but I have supplies.

    “There are over 810 million litres of PMS in depots, tanks and fuel stations across the country, so you don’t have the problem of transferring those from marine to land, you already have them on the ground.”

    The NNPCL boss, however said, the local production of Premium Motor Spirit, otherwise known as petrol, by Dangote Refinery, Port Harcourt Refining Company and others in Nigeria is not going to change the pump price of the commodity.

    Kyari confirmed that the Dangote Refinery, which was inaugurated on May 22, 2023, by former President Muhammadu Buhari, would start pushing out products by the end of July and early August.

    He also stated that the Port Harcourt Refinery would be delivered by the end of the year, adding that the facility was expected to further boost local production of petrol.

    He stressed that the notion that petrol prices would reduce once the country starts domestic production was false.

    But Kyari declared that despite the volume of petrol being expected from these facilities, the cost of the commodity would not reduce, regardless of the fact that the product was produced locally.

    He said, “There is a notion that if the product is processed locally, prices will reduce. Let me make it clear that it is not going to change anything. If you produce locally, the refineries will also input the cost of production and other things and it will be sold at the current price.

    “There will also be no subsidy when local production starts because there is no cash-to-back subsidy, this country no longer has the resources to continue with subsidy.”

     

  • Hardship, fuel queues across Nigeria herald inception of Tinubu’s administration

    Hardship, fuel queues across Nigeria herald inception of Tinubu’s administration

    Fuel queues have reappeared in Nigerian cities as motorists hurriedly seek petroleum products following President Bola Tinubu’s announcement that his administration will put an end to the fuel subsidy regime.

    This development comes shortly after Tinubu’s inaugural address at Eagle Square, Abuja, where he declared the termination of the petroleum subsidy, citing its unsustainability.

    In his address, President Tinubu emphasized that the current 2023 budget only includes provisions for the fuel subsidy until June.

    He further explained that the funds previously allocated to subsidies will now be redirected towards the creation of public infrastructure, education, healthcare, and job creation.

    “We commend the decision of the outgoing administration in phasing out the petrol subsidy regime, which has increasingly favored the rich more than the poor.

    “Subsidy can no longer justify its ever-increasing costs in the wake of drying resources. We shall instead re-channel the funds into better investments in public infrastructure, education, healthcare, and jobs that will materially improve the lives of millions,” President Tinubu said.

    Reports from various cities indicate a rapid resurgence of fuel queues as motorists face challenges in acquiring petrol. In Abuja, Lagos, and Ondo States for example, fuel stations like Total, Mobil and Conoil witnessed long queues of vehicles as motorists struggled to purchase fuel. Some other petrol stations were shut due to uncertainties.

    The scarcity led to traffic congestion throughout Monday evening and Tuesday morning, exacerbating the challenges faced by motorists and petrol is reportedly selling at prices ranging from N200 to N250.

    TheNewsGuru.com (TNG) reports that the return of fuel queues serves as a stark reminder of the challenges inherent in the transition away from the fuel subsidy regime.

    While President Tinubu’s administration aims to redirect funds towards essential sectors for the betterment of citizens’ lives, the immediate impact on fuel availability and prices has sparked concerns among Nigerians.

    Business enthusiast Chris Kelechi, said: “Apart from the high cost of living that will accompany this fuel subsidy, another issue I have is the integrity of our leaders, to divert the supposed fuel subsidy allocation, to other sectors, as announced, and not squander or push it to their treasure chests”.

    Similarly, Nigerian food blogger Sisi Yemmie noted: “Quite difficult to make plans in this climate – all my plans for today are gone with the wind and fuel subsidy removal. I’m trying against all odds to be productive and optimistic for my mental health”.

    As the new administration grapples with the complexities of this transition, it faces the critical task of implementing measures to ensure a smooth supply of petroleum products to the public.

    Balancing the need for economic sustainability, job creation, and improved public services will be key priorities for President Tinubu and his team. The coming days will shed light on the effectiveness of the government’s plans to address fuel scarcity and stabilize prices.

    In the meantime, Nigerians will closely observe the administration’s strategies and their impact on the daily lives of citizens, hoping for tangible improvements in the fuel sector and the broader economy.

    Passengers stranded, as fuel scarcity hits Cross River

    Twenty-four hours after the declaration of President Bola Tinubu to remove fuel subsidy, fuel scarcity has returned in Cross River.

    It would be recalled that Tinubu, in his inaugural speech, had declared that fuel subsidy which had been a lingering issue in the nation especially between Organised Labour and the Federal Government, was gone.

    A correspondent who went around parts of Calabar on Tuesday morning observed that most of the fuel stations that sold the product 24 hours were all locked up leaving residents stranded.

    At the Atimbo area of Calabar that had six active fuel stations, all of them were under lock and key and were not dispensing petroleum products.

    In spite of the fact that two of these fuel stations had fuel tankers that came to discharge petroleum products, they were still not selling.

    In one of the fuel stations visited by NAN, a male official who declined comment on the matter, claimed that they were only carrying out directives.

    Mr Effiong Nsa, a mini bus driver who spoke to NAN, said that most of the fuel stations that were locked up had the products and sold fuel the previous day.

    He said that they only stopped selling so that they could make more profit following the declaration of the new President on the issue of fuel subsidy.

    “I know that all these stations have fuel, they are only trying to make more profit by buying at a subsidised price and selling at a price that would be determined after the subsidy removal.

    “Right now, what I have in my vehicle is going down, immediately it finishes, I will go and pack the vehicle at home because there is no where to buy the product,” he said.

    On her part, Mrs Juliana Adak, one of the passengers stranded at the Edim-Otop junction, said that the suffering was so much as she had been there for over 30 minutes without getting a bus to take her to her destination.

    Adak called on the Federal Government to look into the matter, adding that it was too early for the nation to experience fuel scarcity with the new administration.

    Subsidy: Queues return to filling stations in Osogbo

    Following the announcement of fuel subsidy removal by President Bola Tinubu in his inaugural speech on Monday, queues have returned to filling stations in Osogbo metropolis.

    A correspondent, who monitored the situation on Tuesday, reports that most filling stations had shut their gates, while the few ones selling were selling above the regulated price with long queues of customers.

    A popular filling station opposite Ayegbaju International Market, Osogbo, which was selling at N250 at the initial stage, hurriedly changed the pump price to N270 due long queue of motorists.

    At the NNPC filling station at Abere, the queue of motorists waiting to buy fuel extended from the fuel station to the entrance of Osun State House of Assembly, about five kilometres away.

    Aside from these two filling stations on Osogbo-Gbongan road selling petroleum product to motorists, other filling stations on the axis were shut.

    On the Oke-Fia to Agunbelewo axis, only Bovas filling station was still dispensing with long queues of motorists, causing traffic hold up.

    A commercial motorcyclists, Adebayo Ahmed, told NAN that he had been on the queue for more than two hours.

    Ahmed, who said that he came from Ota-Efun, the outskirt of the town to look for fuel, said all the filling stations in his area were not selling the product.

    “I had been searching for where to buy fuel since morning before one of my friends told me to come to Bovas filling station at Agunbelewo.

    “I got here around 8 a.m. and met a very long queue. I hope it will get to my turn before they run out of petrol,” he said.

    Meanwhile, the state government said its Special Monitoring Team on Fuel Scarcity would begin monitoring all filling stations across the state in collaboration with law enforcement agencies and other stakeholders.

    This is contained in a statement by Mr Olawale Rasheed, the spokesperson to Gov. Ademola Adeleke.

    Rasheed said any fuel station found guilty of hoarding fuel to create artificial scarcity would be sealed and operators prosecuted for crime of economic sabotage.

    “The attention of the Osun state government has been drawn to the deliberate hoarding of PMS by the fuel dealers within the State as a result of the Inaugural speech of President Bola Tinubu on the removal of fuel subsidy, thereby causing unnecessary hardship for the people of the state.

    “This deliberate action is not only inhumane, but unpatriotic and will not be allowed by the government.

    “To this end, the special monitoring team on fuel scarcity, set up by Gov. Ademola Nurudeen Jackson Adeleke, and headed by the Chief of Staff, Kazeem Akinleye, is still effective and shall not condone any form of economic sabotage.

    “As from today, 30th May 2023, the Committee shall begin special monitoring of all the filling stations across the state in collaboration with law enforcement agencies and other stakeholders,” the statement read.

    Subsidy removal: Queues return to filling stations in Abuja

    Following the announcement of fuel subsidy removal by President Bola Tinubu in his inaugural speech on Monday, queues have returned to filling stations in Abuja.

    A correspondent, who monitored the petrol supply situation in Maitama, Wuse, Gwarimpa, Wuye and Kubwa areas of Abuja, reports that there are long queues in filling stations and some are closed.

    Some of the filling stations are selling at the approved pump price while some have increased the prices by Monday evening.

    Some residents of the capital city complained that the scarcity would affect the economy, as most businesses would be negatively affected.

    A civil servant, Mr Brown Uzor, said he has been in the filling station since 7 a.m., and has not been able to get fuel.

    “We know it’s not the government’s making but the government should work on the roadmap to avoid any further problem.

    “However, we saw this coming, I believe it’s just panic buying and the filling stations are taking advantage of the president’s speech.

    “I personally want the subsidy to be removed because as a nation we need to grow but the fuel price should not be too high because of the ordinary Nigerian,” Uzor said.

    Earlier reported was that President Tinubu, in his inaugural speech, said that the fuel subsidy regime had ended with the commencement of his administration.

    The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) are addressing the concerns regarding the removal of fuel subsidy.

    The agency stated that it was working to avoid disruptions in the supply of Premium Motor Spirit (PMS), also known as petrol, and ensure that consumers are not short-changed in any form.

    The agency has assured that it would ensure steady supply of the commodity to meet demand, and had taken necessary steps to ensure that the distribution channels remained uninterrupted and fuel readily available at all filling stations nationwide.

    Ondo residents decry hike in pump price, queues resurface in stations

    Residents have decried the hike in pump priceand long queues that resurfaced in filling stations in Akure and major towns in Ondo State shortly after the inauguration of President Bola Ahmed Tinubu on Monday.

    President Tinubu had during his inauguration speech had said that there was no going back on the removal of fuel subsidy, but rather the funds shall be re-channel into better investment in public infrastructure.

    Shortly after the inauguration address queues resurfaced at filling stations in the state capital, Akure and places like Ikare and Owo.

    By Tuesday morning the situation at filling stations had worsened with long queues of motorist creating multiple lines at the few filling stations selling the commodity, thus causing traffic snarls on the affected highways.

    An investigation by NAN revealed that some of the filling stations selling fuel had increased their pump price from N220 per litre to N280 while some sold at N300.

    In an interview with NAN, Mr Tunde Femi, a taxi driver, frowned at the development, saying the president’s inaugural speech touching on removal of fuel subsidy led to the immediate hike in pump price and hoarding of the commodity by some petroleum marketers.

    The taxi driver, who said that he had been looking for where to buy fuel at the cost N220 for over two hours, called on the state government and petroleum regulatory bodies to find quick solution to the situation so as not to cause hardship for the masses.

    “I am highly surprised about what happened since yesterday because it not supposed to be that filling stations will stop selling fuel while some have arbitrarily increased the price.

    “As at two days ago, major marketers sold fuel at official price of N195 per litre while independent marketers sold at N220, but immediately after the inauguration speech, some filling stations increased the price between N250 and N300,’’ he said.

    Also, Mr Ariyo Osadare, a hotelier, decried the long queue of motorists at filling stations, saying the pronouncement of President Tinubu about removal of fuel subsidy should not cause the petroleum marketers to hoard their fuel.

    “If at all the fuel subsidy was removed, most of filling stations are not helping matter because I was at on filling station when he suddenly stop selling saying fuel has finished.

    “The fuel I bought yesterday was N230 per litre but this morning is N250. But if the fuel subsidy removal is for the benefit of the masses, I am 100 per cent in support,” he said.

    Mr Moses Lawrence, an Aluminum fabricator, appealed to filling stations to support the new government for it to achieve the benefit of fuel subsidy removal.

    According to him, it may be difficult at the start, but all will be well if government can sincerely do what they promised about the subsidy removal.

    “As far as I am concerned, if government can fulfill what they intend to do, I believe it will be a good thing for all Nigerians,” he said.

    Similarly, Mr Mufutau Balogun in Ikare-Akoko, Akoko North East Local Government Area of the state told NAN that only one filling station was selling fuel out of numerous in the town.

    “As at this morning, I bought at the rate of N250 per liter while only one filling station is selling at Ikare now and one other station between Ikare-Akoko and Ogbagi-Akoko.

    “Other filling stations are locked and the situation has started affecting the masses, but if the fuel subsidy removal will make things work well in our country, I believe we will all smile as government promised at the end of the whole thing,” he said.

    However, a manager in one of the filling station on the Airport Road, Akure North Local Government Area of Ondo State, who refused to mention her name, said that the price increase was on the order of the management.

    “For now, we are selling at N250 per litre although we sold at N220 on Sunday and I cannot confirm to you the reason for the change,” the manager said.

    Fuel subsidy removal: Queues return to filling stations in Ilorin

    Following the announcement of fuel subsidy removal by President Bola Tinubu in his inaugural speech on Monday, fuel queues have returned to filling stations in Ilorin metropolis.

    A correspondent, who went round the town on Monday evening, reports that most filling stations were closed while those selling were selling above approved pump price with long queue of customers.

    Earlier in the morning before the news of the removal went round, the filling stations were selling at their different rates, but some closed down while others have increased their prices by evening.

    Some of the customers who spoke to NAN however said they envisaged scarcity of fuel, hence the panic buying.

    Mrs Medinah Jimoh said she would not have the time to go round in search of fuel at an expensive rate when work resume on Tuesday, so she was ready to join the long queue and buy.

    Another customer, Mr David Owoeye, said the filling stations were out to exploit the customers as they will start selling old stock at a new price that has not even been announced yet.

    ”That is the reason why I decided to refil my tank today, so that I will not suffer searching for fuel around when the filling stations start their artificial scarcity,” he said.

    Fuel Subsidy Removal: Economist predicts reduction in fuel price

    Prof. AbdulGafar Ijaiya of the Department of Economics, University of Ilorin, has expressed optimism at President Bola Tinubu’s inaugural remarks on removal of fuel subsidy, saying this may reduce price at the long-run.

    Ijaiya, who spoke with NAN on Monday in Ilorin, observed that with commitment from the Federal Government in revamping existing refineries alongside Dangote refineries, this will increase availability of petroleum products.

    The expert who however explained that though such effect may not be felt immediately, noted that the present pump price is about N200, depending on filling stations across the country.

    He questioned if the present fuel price at about N200 was as a result of the subsidy removal, adding that if it is not, then fuel may likely increase with about 50 per cent rate after the removal.

    “But the thing is that very soon, what has gone wrong with the refineries will be corrected and Dangote refineries will commence by July/August,” he said.

    Ijaiya, who teaches in the Faculty of Social Sciences of the university, pointed out that in the beginning there might be increase in prices of foods and services.

    He however asserted that in a society like Nigeria where people are used to hike in prices, it would not mean much to the citizens.

    “By Economics principle, we have adjusted our expenditure profile consumption to particular items. We have moved from consuming luxury and unnecessary items to necessary items.

    “This means people go for what is necessary and do away with those that are not,” he said.

    Ijaiya affirmed that in the long run, the fuel pump price will adjust downward and there would be more supply of the products.

    He further added that when there are more supply of a particular product in the market, it will automatically reduce the price.

    “If we have enough supply, with time and there are no other man made distortion that has to do with our behaviour, I see us buying it between N80 and N100 per litre,” he predicted.

    The economist also foresee filling station advertising and competing for sales, saying it will be good for the nation.

    He however cautioned that “we are in an uncertain world”, but maintained that fuel subsidy removal would be good for the country eventually as only a minority are benefiting from it.

    NNPC Ltd welcomes removal of fuel subsidy, assures sufficiency

    The Nigerian National Petroleum Company Limited (NNPC Ltd) says the decision to remove subsidy on Premium Motor Spirit (PMS) known as fuel by President Bola Tinubu is a welcome development.

    Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPC Ltd. made this known at the NNPC Ltd. Towers in Abuja while briefing the newsmen late Monday night after the pronouncement by the President.

    Tinubu, at his inauguration as the President of the Federal Republic of Nigeria on Monday said subsidy regime will end with the commencement of his administration.

    Kyari, while addressing the newsmen said the removal of the subsidy which had been a burden on NNPC’s cash flow would free up funds to enable optimal operations in the company.

    “Subsidy has been a major challenge for NNPC’s continuous operations, we believe that this will free up resources to enable us continue to do great work and function as a commercial entity, we welcome this development,’’ he said.

    Reacting to queues and scarcity already being experienced, the GCO assured Nigerians of sufficient supply of products particularly the PMS, adding that the company has over 30 days of PMS storage and supply.

    “There is no reason to panic, we understand that people will be scared of potential changes in price of petrol, that is not enough for people to rush to buy more than they need,’’ he added.

    He however appealed to Nigerians not to be scared or indulge in panic buying.

    He added that the company as the supplier of last resort as mandated by the Petroleum Industry Act (PIA) would continue to ensure availability of PMS and other petroleum products.

    According to him, the NNPC Ltd. is also monitoring all its distribution networks to ensure compliance.

    “The NNPC Ltd. is in discussion with the Nigeria Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to develop framework of the implementation of the removal of the PMS subsidy as announced by the president.

    Former President Muhammadu Buhari set June 2023 as the date for the removal of fuel subsidy.

    The federal government had explained that if it continues to service the subsidy, the country will spend N6.4 trillion annually.

    Buhari’s new deadline for removing fuel subsidy will be a month after he hands over to his successor in May 2023, leaving the new leader to deal with any backlash and commotion that may follow the decision.

    The government said the Medium Term Expenditure Framework was that if the nation holds on to fuel subsidy as it is designed now, we will be incurring from January to December a subsidy cost of N6.4 trillion.

    Subsidy removal: We’ll ensure smooth transition, avoid supply disruptions – NMDPRA

    The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it is working with the NNPC Ltd. and other stakeholders to guarantee a smooth transition following the removal of fuel subsidy.

    President Bola Tinubu, in his inaugural speech on Monday, said the fuel subsidy regime had ended with the commencement of his administration.

    The authority made this known on Tuesday in a statement signed by Mr Kimchi Apollo, General Manager, Corporate Communications, NMDPRA, to address concerns regarding the removal of fuel subsidy.

    Apollo said the authority was working to avoid disruptions in the supply of Premium Motor Spirit (PMS), also known as petrol, as well as ensure that consumers were not short-changed in any form.

    He assured ample supply of PMS to meet demand, and that the authority had taken necessary steps to ensure that distribution channels remained uninterrupted and fuel readily available at all filling stations nationwide.

    He urged Nigerians not to panic over the removal of subsidy as the authority had ensured availability of petrol nationwide.

    “Contrary to speculations and concerns, the announcement is in line with the Petroleum Industry Act (PIA 2021), which provides for total deregulation of the petroleum downstream sector to drive investment and growth.

    “We, therefore, call on Nigerians to remain calm and resist the urge to stockpile as it poses significant safety hazard.

    “The NMDPRA reassures all Nigerians that the removal of subsidy on PMS is a step towards building a more sustainable and prosperous future for our nation.

    “We will continue to monitor activities and implement necessary measures to enhance transparency and accountability in the petroleum downstream sector,” he said.

  • Analysis: Dangote refinery vs inoperative FG-owned refineries

    Analysis: Dangote refinery vs inoperative FG-owned refineries

    While the Dangote Refinery plays a crucial role in resolving Nigeria’s importation challenges, several challenges pose significant obstacles…

    The Nigerian government’s expenditure on the maintenance and rehabilitation of its refineries, along with fuel subsidies despite financial challenges, has surpassed the cost of constructing new refineries capable of refining significantly higher volumes of crude oil, some stakeholders have argued.

    TheNewsGuru.com (TNG) reports that over the past eight years, more than N12.05 trillion has been spent on repairs and subsidies, yet the existing refineries, with a total refining capacity of 445,000 bpsd, have failed to produce enough refined oil for domestic consumption despite the substantial investment of over a quarter of this amount (N4.15 trillion) on maintaining and rehabilitating the three refineries located in Kaduna, Port Harcourt and Warri.

    In April 2022, the then Minister of State for Petroleum Resources, Timipre Sylva, announced that the rehabilitation of the old Port Harcourt refinery would be completed by the first quarter of this year, but the expected output was only 28 per cent of the 210,000 bpsd capacity.

    Over the years, the refinery has faced issues of corruption, poor management, sabotage, and a lack of mandatory turnaround maintenance (TAM). These factors have contributed to its inefficiency and an operating capacity of only around 40 per cent at best.

    “The commitment is to deliver 60,000 barrels per day from this refinery by the first quarter of next year, and, of course, we are quite happy,” Sylva said after a facility tour in Eleme, Rivers state.

    About three months later in July, The Nigerian National Petroleum Company (NNPC) became a fully Limited Liability Company in accordance with the provisions of the Petroleum Industry Act (PIA), raising stakeholders’ expectations of the company.

    Yet, NNPC Limited failed to meet its timeline for the rehabilitation and functioning of the Port Harcourt refinery. The company’s Executive Vice President, Danladi Inuwa, later extended the resumption date of the refinery to the second quarter of the year.

    “We are working on revamping our refineries. For instance, the Port-Harcourt refinery will be functioning by the second quarter of 2023, the area five of the refinery will be functioning.

    “Also, Warri and Kaduna refineries have been signed on a quick rehabilitation to refine our petroleum product in the country,” Inuwa said.

    The decision to refurbish the refinery comes amid calls for privatization and concerns over mismanagement and financial losses.

    There is also an ongoing modular refinery program initiated by the federal government, to promote legal and regulated refining activities across the country and curb illegal oil bunkering and criminal activities in the Niger Delta region, which contribute to environmental issues such as the soot pandemic in Port Harcourt.

    The dire state of the country’s refineries has placed a significant burden on Nigeria’s finances, with a considerable portion of its foreign currency reserves being used to import refined oil for domestic consumption, hindering the allocation of funds for social and economic development initiatives.

    However, in contrast to the struggling state-owned refineries, the recently launched Dangote Petroleum Refinery, with a refining capacity of 650,000 bpsd, provides hope for Nigeria’s refining capacity and is expected to curb intermittent scarcity of petrol.

    Speaking at the commission ceremony, Africa’s richest man and the driving force behind the project Aliko Dangote, said the priority was to ramp up production to ensure the refinery could fully satisfy Nigerian demand and eliminate “the tragedy of import dependency”.

    While the Dangote Refinery plays a crucial role in resolving the Nigeria’s importation challenges by bolstering domestic refining capacity, several challenges including declining oil production, supply chain complexities, and controversies surrounding the daily fuel consumption figures, pose significant obstacles to the refinery’s seamless operation and its ability to address Nigeria’s reliance on imported petroleum products.

    Nigeria has experienced a decline in oil production due to persistent issues such as oil theft, pipeline vandalism, and underinvestment. In April, Nigeria’s oil production fell below one million barrels per day (bpd), dropping below Angola’s output.

    Another significant challenge revolves around the controversy surrounding Nigeria’s daily fuel consumption figures. While the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has pegged the country’s daily petrol consumption figure to 66.8 million litres, the Nigeria Customs Service claimed that the NNPC released 98 million litres daily, raising questions about the accuracy and transparency of reported consumption figures.

    Analysts say that while the establishment of the Dangote Refinery holds promise in addressing Nigeria’s importation challenges, several identified hurdles must be addressed to unlock its full potential.

  • PVC, petrol and redesigned Naira as weapons for election 2023 – By Magnus Onyibe

    PVC, petrol and redesigned Naira as weapons for election 2023 – By Magnus Onyibe

    Forget the loud noises about who is more corrupt amongst the three leading contenders for the office of the president of Nigeria from 29 May -Asiwaju Bola Tinubu of All Progressives Congress,APC, Wazirin Atiku Abubakar of Peoples Democratic Party,PDP and Mr Peter Obi of Labor Party,LP.

    Who is guilty or not of graft which was at one point in time occupying the left and center of the activities leading to one of the most consequential elections in the life of our beloved country,has now paled into nothing.

    In other words ,corruption as the lightning rod for election 2023 has been replaced by the scarcity of petrol, difficulty in obtaining Permanent Voters Card,PVC and hoarding of the redesigned naira which are the existential challenges that have been piling on each other and which have been keeping most Nigerians on queues to obtain for hours, days and even weeks on end.

    Without a tinge of doubt,the three (3) highlighted factors would be the deciding issues or elements for the 25 February and 11 March general elections.

    That is simply because they are the issues on top of the minds of practically all Nigerians,no matter their socioeconomic status.

    The aforementioned maladies afflicting the entirety of Nigerians started manifesting after October last year when the Central Bank of Nigeria,CBN announced its naira redesign initiative to replace some old denominations of the naira from 15 December and the Department of State Security Services,DSS attempted to arrest the governor,Mr Godwin Emefiele for alleged involvement in sponsoring terrorism, following the introduction of the redesigned notes in the middle of December.

    A high court judge in the Federal Capital Territory, FCT Justice John Tshoho denied the DSS the arrest warrant that it sought and the governor of the apex financial regulatory authority went under ground where he was hibernating until the dust settled and he returned to work in January.

    Rather than be fazed and perhaps because the CBN governor had the full backing of President Mohammadu Buhari,swapping of the redesigned naira with the old remained a hot button issue.

    Before the siege on Emefiele was eased off, the chairman of lndependent Electoral Commission, INEC Professor Mahmoud Jega was also in hot water for alleged impropriety relating to the declaration of his assets when he was taking up the role. He was to be arrested but the same FCT high court judge gave him reprieve by ruling in his favor.

    So,once again tension rose and fell with regards to the conduct of the much anticipated 2023 general elections which comes up in a couple of weeks as Nigerians were gripped with anxiety on whether it would hold or not as many eligible voters scrambled get registered and receive Permanent Voters Cards, PVC.

    Remarkably, the managing director of Nigerian National Petroleum Corporation, NNPC,Mr Meele Kyari who is Incharge of importation and distribution of petroleum products in Nigeria which has been in short supply for the better part of the last two years is also one of the three (3) stress points causing the populace a lot of anguish as they struggle in queues to get the commodity,but he has not been in the eyes of the storm in the manner that Mr Emefiele and Professor Yakubu have been under siege.
    At least not from the Secret Police,but only from the motoring public that have been highly distressed and emasculated by the shortage of Premium Motor Spirit,PMS.

    And the very stressful and energy sapping queues in petrol stations were persisting up to the moment l was writing this piece. So,there is every likelihood that Nigerians would vent their anger on their oppressors with their votes on 25 February and 11 March election days.

    It is rather curious that elder statesman,Tanko Yakassi has been credited by the media to have called for the sack of the CBN governor for failing to ensure equitable supply and distribution of the redesigned naira by President Buhari.

    But he did not make a similar demand for the sack of NNPC’s group managing director,even when petrol scarcity had become perennial.

    The situation with petrol shortage is quite unlike the redesigned naira scarcity issue which is a challenge that has existed for barely one month.

    And the shortage is owing to the hoarding of the sum of money that the CBN had released into the system by banks and individuals who believe that there is not enough redesigned currency available which is a misinformation that fake news purveyors had peddled by claiming that only about N300 billion had been printed,whereas about N2 trillion had been mopped as at 31 January.

    That lie is what is further exacerbating the redesigned naira scarcity situation.

    Because those that already have some of the redesigned are not putting them back into the system to recirculate.

    Instead they are holding on to the cash tightly more so because withdrawals of cash from across bank counters have been reduced to as little as N20,000,which is far below what most people need.

    And to debunk the notion that not enough cash has been pushed into the economy,the CBN should do well to share with Nigerians the volume of the redesigned currencies that it has printed and the quantity that has been distributed to each of the banks.

    That would compel the Deposit Money Banks,DMBs to release the funds to the long suffering masses.
    Then each of the banks should in turn give Nigerians a break down of how they are redistributing the funds region by region,state by state and city by city through power point presentations.

    Once Nigerians believe that supply would match demand,the compulsive hoarding habit would abate.I can not understand why the CBN and banks are being timid instead of bullish and aggressive about it.

    These are critical times that call for patriotism,not profit making.

    If the CBN makes it clear that enough cash has been pushed into the system , as it is claiming,yet it seems not available as it should,then members of the public would realize that the redesigned cash is being hoarded by some politicians for sinister motives as being alleged in some quarters.

    The CBN needs to be tough in the manner that the apex financial institution encouraged banks to publish in the mass media the names of chronic bank debtors and the naming and shamming compelled some of the debtors to pay up.

    In like manner,if members of the public are aware of the amount that has been pumped into the banking system and believe it is sufficient,they would not engage in hoarding the currency in the manner that folks panic-buy petrol or any other commodity for that matter,when they suspect that the supply is inadequate.

    It may also reveal that the cash is in the hands of some unscrupulous politicians and shift the blame and anger from CBN and banks where the venom of the people is currently directed hence the masses are venting their spleen on infrastructure of banks.

    Now,returning to the comment by the elder statesman Yakassai demanding the sack of Emefiele as CBN governor, l would argue that it smacks of parochialism even as it tends towards being in the realms of prebendal politics driven by narrow ethnic sentiments.

    In any case,the presidency had responded rather sarcastically to the octogenarian’s un altruistic demand by stating that the elder statesman needs help.And I consider such snide remark distasteful.
    No matter how out-of-order they may be,we must not disrespect our elders by chiding them or being cheeky with them publicly, especially past leaders.

    ln my view,we can not ridicule our statesmen,but only correct their errors,while according them respect.

    It is saddening that it is the scenario of literally jumping into each other’s throat by political actors and purveyors of identity politics described above,is the new low that the politicization of the redesign of naira has dragged our country.

    In a piece titled: “Comparative Analysis Of Buhari and Tinubu Chatham House Presentations”first published in my column on 15 December last year and widely shared on other traditional and online media platforms,l compared President Buhari’s visit to Chatham house- a British foreign policy think tank-during the run up to the elections in 2014 to Asiwaju Bola Tinubu’s visit in December last year to the same Chatham House in preparation for the February 2023 general elections.

    One of the the significant differences that l had identified was that Buhari attended Chatham house after the elections were postponed by six (6) weeks and which gave him a bounce because it was assumed that the postponement was a desperate attempt by then PDP leadership to forestall Buhari’s imminent victory,while Tinubu was at Chatham house without the ugly event of postponement of 2023 elections,hence he failed to gain any momentum after the trip:

    “Given that the circumstances surrounding Tinubu’s Chatham House presentation compared to Buhari’s are different in the sense that the 2023 election date has not been shifted: instead, president Buhari has been emphatic that it is sacrosanct, just as the Independent National Electoral Commission, INEC chairman, Professor Mahmood Yakubu has also been exuding similar confidence by harping on the fact that elections must hold despite the attacks on INEC personnel and facilities; the outcomes of both Buhari and Tinubu Chatham House attendance had to also be distinct from each other”

    The assertion above was my opinion about three (3) months ago.

    But with the current strident calls for the postponement of 2023 general elections that are presently rending the air, it would appear as if l was hasty in my conclusion.

    That is if those calling for the postponement of the elections should have their way.

    However, l doubt if president Buhari would buckle by reversing himself on 2023 elections because conducting an untainted, credible and fair election for a new set of rulers presents the last opportunity for him to leave a significant and positive legacy.

    In my personal assessment, president Buhari appears resolute on doing the right thing.

    But as things currently stand,election 2023 is not only looking like some events that happened in 2015 may be re-enacted,the ghosts of 1993 also appear to be looming large in the horizon.

    And there are a plethora of reasons for the above assertions.

    A cursory look at recent history of politics and elections in our country would reveal the parallels between 1993,2015 and the unfolding political events in present election season.

    At least in terms of the current legal wrangling between the state and federal governments as well as the involvement of the judiciary in ways that could make or mar the 2023 general elections.

    We are all well aware of how after military president Ibrahim Babangida,lBB annulled 12 June 1993 elections adjudged to have been won by late MKO Abiola.

    Owing to the schisms that it precipitated,an interim government was instituted with Chief Ernest Shonekan, former chief executive officer of UAC – a British behemoth as the head.

    However,it only lasted for about ninety (90) days before then military secretary, General Sani Abacha , a veteran of several military coup detats, overthrew Chief Shonekan.

    The first to fly the kite for interim government in this dispensation is Chief Afe Babalola,the legal luminary and foremost educationist.

    He is the one who first mooted the idea of an interim government as far back as roughly one year ago.

    The legal Titan did so with the intention that it would facilitate the production of a people driven constitution that would be truly owned by Nigerians such that the first stanza of the constitution “We The People” would be correct both in letter and spirit.

    But the unworkability of the idea based on the reality that it would entail suspending the current constitution and dissolving a legitimately elected government which can only be achieved via a military coup detat rendered the idea inchoate, unattractive and implausible.

    Typical of how some odd occurrences could grow from quaint to mainstream,the hitherto lonely voice of Chief Afe Babalola that seemed like the mewing of a kitten from a distance has developed into the roar of a lion nearby.

    That is what might have prompted APC presidential flag bearer,Asiwaju Tinubu to raise the alarm to the effect that there are elements in the corridors of power that have sown the seed and having germinated are watering the Interim Government concept plant with the hope that it would become a tree and produce fruits soon.

    Right now legal fire work’s reminiscent of the sort filed and procured by the infamous Association of Better Nigeria ,ABN in 1993 to stall the elections that produced MKO Abiola have filled the political space.

    I had stated in a piece titled: “Why Were Heads Of CBN And INEC Under Siege By Security Agencies”published in my column in daily independent newspaper of 24 January 2023 and subsequently disseminated via other traditional and social media platforms that the dark clouds of 1993 is menacingly handing over our country. Below is how l had put it:

    “It also necessary to recall that after June 12,1993 elections,late Chief Arthur Nzeribe and a certain Abimbola Davies riding on a civil society platform known as Association for Better Nigeria,ABN,went to court with the intention of scuttling the process of transition from military to multi party democracy.

    “Based on the nefarious activities of ABN,civil rights and democracy advocate, Beko Randlsome-Kuti (of blessed memory) went to court to obtain an injunction against ABN that was allegedly engaged in subversive activities inimical to democracy.

    And ABN was then restrained by a court judgement issued by Justice Dolapo Akinsanya.
But,late Nzeribe and his group,two days before the election,approached a high court in Abuja headed by Justice Bassey Ikpeme, which granted them an order lifting the restraining restraint.
“The rest they say is history because the June June 1993 election that is believed to have been won by Moshood K.O Abiola of blessed memory degenerated into a debacle that has had a reverberating and highly consequential effect on our country some thirty (30) years ago.
Do we have a copy cat scenario of the events that happened to 1993 general elections in our hands ?”

    Events in these last few days to 25 February are increasingly appearing like dejavu encore to me as they bear too much resemblance to events leading up to 12 June 1993 national tragedy in a drip,drip, drip fashion.

    Meanwhile, some Governors from the APC stable had on 3rd day of February visited president Buhari in Aso Rock Villa to solicit for the lifting of the deadline of 10 February that the old naira notes would seize to be legal tender and the president had responded by telling them to give him seven(7) days to revert.

    Becoming impatient and taking advantage of the law that allows states having issues with the federal government to bypass the high court and appeal court routes and go straight to the Supreme Court,three(3) of APC governors-Kaduna,Kogi and Zamfara sued the federal government of Nigeria, FGN and CBN to the supreme court with the prayer that the apex court should bar the apex bank and government from enforcing the 10 February ban on the use of N1000, N500 and N200 notes as legal tender.

    And the apex court has given the order that both the plaintiffs and defendants should maintain status quo antebellum and come back for hearing on the 15th of February which is five(5) days past the deadline.

    What this means is that the plaintiffs may have succeeded in gaining five (5) more days in addition to the ten (10) days that president Buhari and Emefiele had granted after the expiration of the last deadline on 31 January.

    While the CJN has stated that the FGN would comply with the order, but CBN did not reverse its order that the old naira seizes to be legal tender from 10th of February. Technically, the CBN was not joined in the suit against the FGN for which the Supreme Court granted exparte order and the president who is constitutionally empowered to give the CBN governor orders,might not have done so,hence the situation is in a flux.

    As such,Nigerians are in a quandary on whether the old naira should be shunned or accepted after 10 February.

    Meanwhile, some state governors of the APC stock have threatened to arrest traders or individuals who fail to accept the old notes and a couple of them have even gone ahead to shut down supermarkets/department stores that fail to comply with their order.

    More chaos and anarchy seem imminent if the supremacy of the FGN over items in the exclusive list such as monetary matters under the purview of the CBN is not regained.

    What is very intriguing to me is that it is a case of APC against APC which is unprecedented and it reinforces the notion that the ruling party was just a contraption of ethnic and regional groups with opposing ideological leanings cobbled together to win the 2015 election without having a common ideology or philosophy. And till date the multiple legacy political groups have not blended into one and they are ferociously charging into election 2023 like wounded bulls ready to gore all the oxen that may stand on the way.

    With president Buhari on his way out on 29 May of which he has even set up a transition committee,the fault lines within the ruling party are falling into greater relief as the centrifugal forces that formed the 2013/14 /15 are pulling against each other.

    That validates my oft repeated suspicion that the ruling APC has not undergone,as it should,the entity creation stages of Forming,Storming,Norming and Performing as enunciated by Bruce Tuckman,the social scientist.

    Evidently,after the Forming stage which happened in 2013/14/15,the APC might have stopped at the Storming stage which is the next level after Forming.

    The Storming process manifested in the form of major upsets during the party’s primary elections in June last year wherein some northern governors did not accept the current senate president,Dr Ahmad Lawan as the northern consensus candidate as proposed by the party chairman, senator Abdulahi Adamu and national organizing secretary, Suleiman Arugungu acting on behalf of president Buhari who had earlier implored the governors to grant him the honor and privilege of choosing his successor.
    So,the Norming and Performing stages which are the 3rd and 4th levels are yet to be attained by the APC.

    As a sign that the party has not risen beyond puberty into maturity by blending into one party speaking with one voice,the governors did not oblige president Buhari his request which is why Asiwaju Tinubu is now the party’s flag bearer.

    And one wonders why the same governors that snubbed mr president by failing to oblige him a fervent request expect that he would accede to their request to halt the naira redesign initiative which they believe is inimical to their cause.

    Perhaps,that is why a bare knuckle fight between some APC states and FGN is currently afoot with all the gloves off.

    Against the backdrop of the forgoing,readers can discern why the irrepressible governor Nasir El Rufai of kaduna state pointed fingers at those who lost out in the party primaries as the masterminds of the naira demonetization exercise which he alleges as being ill timed and therefore a scheme aimed at making it impossible for the ruling party at the centre to win its re-election bid.

    It depends on how magnanimous president Buhari elects to be,the current turn of events appear to be payback time now that the tide is against those who ostensibly dishonored him by not letting him have his way in his choice of a successor.

    As a retired army general, the military dictum of no retreat, no surrender may galvanize President Buhari’s resolve to see his mission of naira redesign policy through without conceding defeat after losing out six (6) months ago to the governors during the party’s convention when the presidential standard bearer of the party was elected.

    As the popular aphorism goes: there is no smoke without fire.

    So, when PDP’s presidential campaign council mocks the APC presidential candidate that he is not enjoying the support of the incumbent president and the candidate Tinubu intermittently throws jabs at the presidency alleging that he is being sabotaged and which his handlers often try to walk back,readers now have an idea of the forces at play.

    With the parties struggling for the heart and soul of our beloved and beleaguered country,three striking agendas or outcomes are being pursued by the three leading parties and their candidates.

    These are:

    (1)Those canvassing for interim government with the hope that it would afford their camp enough time to consolidate on their current accomplishments in order to catch up with the big parties – APC and PDP that already have structures across the country and rich pedigree built over the past 23 years of the return of our country to multi party democracy since 1999.

    Chief Afe Babalola,the chief proponent of interim government is known to have expressed open support for Mr Peter Obi and LP. The biggest masquerade suspected to be pushing the interim government agenda in the shadows has also openly endorsed LP party’s candidate for president via an open letter to Nigerians, particularly the youth.

    And the LP presidential candidate himself has spoken in favor of the Naira redesign policy which he acknowledged as a good policy that is producing short term pains, but with potential long term gains.

    (2) With respect to those seeking the suspension of the naira redesign initiative until the 25 February and 11 March election are held and concluded,they are not making any bones about it.

    They are members of the faction of the ruling party that recently visited President Buhari in Aso Rock Villa seeking the extension of the redesigned naira swap with the old notes,at best till the end of 2023 and at worse,after the scheduled 15 February and 11 March federal and state governments elections.

    These are particularly those who voted for Asiwaju Tinubu as opposed to senate president Ahmad Lawan during the party primaries and who feel that the naira redesign policy that has restricted access to cash has wrecked their plans.

    However, from the president’s side,the redesigned naira shortage is a temporary discomfort to the masses which president Buhari is willing to stoically take responsibility for as a man of honor. And he has encouraged the masses to bear with him knowing that the temporary pain would transform into long term gain when the elections have been lost and won and politicians have no more need to hoard the redesigned notes.

    It is an ostensibly selfless attitude that president Buhari has adopted,but which his opponents within the party detest because they feel it is selfish,hence they have approached the courts to stop him.

    (3) The third prong of the triumvirate expectation is the main opposition PDP and its candidate Wazirin Atiku Abubakar that want the naira redesign policy of which president Buhari and CBN governor had already granted distressed Nigerians reprieve for ten (10) days to truly end on the 10th of this month which is contrary to the desire of a faction of the ruling APC that has been given legal backing by Supreme Court order compelling maintenance of status quo antebellum up to 15 February.

    The PDP supports the notion that discontinuing with the demonization of some denominations of the naira would enable politicians that have stashed up billions of naira as war chest have their way in either using the stashed up old currencies or hoarded redesigned notes in buying up votes and thus subvert the will of Nigerians,if both old naira and redesigned currencies are allowed to be used concurrently which is part of the rebellious governors prayer in the case that they filed in the Supreme Court.
    Even as the PDP empathizes with the suffering masses who are inconvenienced by the redesigned naira scarcity,the party’s presidential candidate Wazirin Atiku Abubakar has been pleading with Nigerians to endure the temporary hardships that they are currently grappling with due to the dearth of naira notes arising from its limited circulation.

    And he has assured the long suffering masses that their sacrifice would be a precursor to a better life ahead when the PDP becomes victorious at the polls on the 25th day of this month and 11th of next month.

    It is significant to note that thirteen (13) of the eighteen (18) registered political parties for the 2023 ballot have put the nation and electoral authorities on notice that they would boycott the elections if the naira redesign policy that renders the old currency as not being legal tender from 10 February is nullified or reversed.

    That is huge and l wonder if the threat is carried out would not diminish the authenticity of the elections.
    With the Supreme Court giving an interim order in favor of those against President Buhari’s naira redesign policy continuation,FGN and CBN or their agents must not proceed with the policy as the apex court has asked the parties to maintain status quo antebellum and come back for hearing on the 15th of this month.

    What this means is that the plaintiffs may have succeeded in gaining five (5) more days in addition to the ten (10) days that president Buhari and Emefiele had granted after the expiration of the last deadline on 31 January.

    With the Supreme Court ruling and FGN/CBN complying, would the thirteen (13) of the parties on the ballot carry out their threat of boycott?

    Given the implications of the Supreme Court order,powerful legal minds have jumped into the fray by offering their interpretations of the judgement from multiple perspectives which appear to be more than meets the eyes.

    Some aver that Federal Republic of Nigeria to which the relief sought by the rebellious governors applys,is not the same as Federal Government of Nigeria,FGN to which the CBN is an agency and which the judgement does not apply since it is distinct from the federal republic of Nigeria.

    And others argue that not complying with the law would amount to contempt of the court which would be interpreted as the federal government denigrating and undermining the judiciary which would be an invitation to anarchy.

    The Attorney General of Federation, Abubakar Malami who has briefed lawyers to defend FGN by filing preliminary objections,has added that he is studying the Supreme Court judgement of which another hearing is scheduled for 15 February-five (5) days after the 10 February deadline.

    One striking thing that the drama with APC has revealed in the past couple of weeks is that it is not only PDP that has a divided house in this election season as it had appeared to be via the activities of the rebellious five(5) governors famously known as G-5 (who l like to refer to as Famous Furious Five) that have been causing prickly heat for the main opposition party by not decamping,but remaining in the party like a tsetse fly perched on a scrotum that can not be smashed due to the risk of crushing the scrotum in the process.

    Recent conflicts within the ruling APC have revealed that activities inside the ruling party indeed epitomize “Fuji House of Commotion’ a popular situation comedy that used to be on national television featuring a family that on a daily basis thrives on calamity with catastrophic consequences.

    So,APC is also in disarray as the presidential candidate’s campaign council and some governors from its platform have been acting as an opposition party by disparaging the misery contents of the incumbent government’s policies and programs such as outrageous petrol pump price and its scarcity,skyrocketed naira / dollar exchange rate and some naira denominations redesign and demonetization resulting in starving the economy of cash amongst others causing Nigerians unprecedented hardships.

    One great opportunity for the PDP which it must not fail to harness is the fact that thirteen (13) registered political parties have spoken with one voice against changing the 10 February date for the use of the old currency notes which is in tandem with PDP’s Point of View, PoV.

    That means both the 13 parties and PDP have a common ground for negotiations towards entering into some form of partnership with the PDP to produce the next president of Nigeria in the person of Wazirin Atiku Abubakar in exchange for roles in the federal government if or when the election is won.

    Such an arrangement is not unprecedented.

    Even Mr Benjamin Netanyahu,a reincarnated prime minister of Israel had to enter into unholy but strategic alliances with fringe parties,some of which have diametrically opposing philosophy or ideology,just to clinch victory.

    By the same token,Mr Luiz Lula Da Silva also a former president of Brazil also recently returned to power by beating incumbent Jair Bosinaro after it formed strategic partnerships with strange bed fellows.

    The aforementioned critical maneuverings are not so much different from the path that APC took to victory in 2015 by stringing opposition parties together to form one party formidable enough to dethrone then ruling PDP.

    So,Wazirin Atiku Abubakar and PDP should set up a task force to accomplish that mission without further delay.

    The tendency for the fringe parties to prefer to join PDP based on the fact that it is more on solid ground than APC that is on sinking sand and LP whose head is still in the clouds is a positive factor and motivation for PDP to act fast.

    And l have had cause in the past to liken the ruling APC and incumbent central government to the hilarious comedy show ‘Fuji House Of Commotion’.

    And that assessment is just being further validated by the current chaotic atmosphere within the APC stirred up by its rebellious governors that did not only label elements within the presidency as saboteur,but have also sued the APC led federal government to court underscoring the theater of the absurd status which our beloved country has degenerated into.

    As l had predicted in previous media engagements,arising from the incongruities playing out and the financial scandals swirling around our country,there has been a gale of downgrading of the financial rating of our country and banks by Fitch and Moodys global rating agencies.

    And better or worse ratings would follow depending on the integrity and outcome of the elections when they are concluded on 25 February and 11 march all of which are within the first quarter of the new year.

    In light of the state of organized chaos into which our country has descended, especially in the last one year,the next president of Nigeria that is likely to be Wazirin Atiku Abubakar of PDP who is poised to garner the required 25% in 24 states of the federation after the first ballot,(despite LP’s forays in the south east and south south as well as NNPP’s influence in Kano and Jigawa states) should be ready to manage the socioeconomic and political crisis that have assumed gargantuan proportions which he would be inheriting.

    One question that an Abuja based socialite Mr Terry Wiya recently posed to me in curiosity is: why are APC governors crying loudest since the naira redesign policy equally affects Peter Obi of LP, Musa Kwakwanso of NNPP , Atiku Abubakar of PDP and indeed all the 18 registered political parties?
    Is it because the introduction of the redesigned naira has disrupted, disorganized and upended what they had planned to do with the cash that they had stashed up with the plan to deploy same in vote buying,but now the cash must go into the banking system as it would seize to be legal tender after the deadline thus making it impossible to carry out their nefarious intentions as being speculated in the media?

    I have no answer to the question because l am also in quandary and bewilderment.

    Now, the earlier cited visit by APC governors to president Buhari in Aso Rock Villa on the 3rd day of February and their subsequent suing of the president and FGN to the Supreme Court over the discontinuation of the use of old naira notes and it’s replacement with the redesigned naira notes might have earned those rooting for the old notes not to seize being legal tender additional five (5) days to change their old naira war chest into the redesigned notes based on supreme court’s directive that all the parties should hold their peace and let all things remain the same till 15 February when the case would be heard.

    But the integrity of 2023 election may be in jeopardy if indeed huge amounts of cash get into the hands of the politicians who may be planning to engage in vote buying as being alleged.

    And as l was wrapping up this piece,someone sent me the amazing and striking social media post below which l have reproduced here in its original format:

    “Twitter ban,- No APC governor visited PMB.
    High inflation,- No APC governor visited PMB.
    Kidnapping,- No APC governor visited PMB.
    Killings,-No APC governor visited PMB
    Fuel scarcity,-No APC Governor visited PMB.
    8Months ASUU strick No Gov.visited PMB.

    APC Governors can only appear to meet PMB when their interests are threatened.”
    Dear readers,what else can l say than “ beware of the ides of March” while advising you to draw your own conclusions.

     

    ONYIBE, an entrepreneur, public policy analyst ,author, development strategist, alumnus of Fletcher School of Law and Diplomacy, Tufts University, Massachusetts, USA and a former commissioner in Delta state government, sent this piece from lagos.
    To continue with this conversation, pls visit www.magnum.ng

  • Fuel scarcity, cash scarcity and jaga jaga governance – By Hope Eghagha

    Fuel scarcity, cash scarcity and jaga jaga governance – By Hope Eghagha

    Last week, amidst the biting, humiliating, and infuriating cash and fuel scarcity and the attendant confusion all over the land, I couldn’t help but recall Eedris Abdulkareem’s perspicacious song titled ‘Nigeria Jaga Jaga’ which was released in 2004. Across the country, millions of Nigerians of every ethnic group -Christians, Muslims, animists- could not access cash to carry out simple mundane but obligatory tasks, like buying food, getting medication, and moving from one location to another. It was clear that chaos caused by government incosmpetence and corruption, spares no one on account of their religion or ethnicity. Yet, fools most of us remain, voting along ethnic or religious lines!

    The ordinary food stuff seller along the road, the market man, and woman whose total cash possession was usually under twenty thousand naira went to bed hungry, angry, and frightened about the jagajaga state of things. Automated Teller Machines (ATMs) could not dispense cash. Banks which initially gave out little sums to their customers had nothing to give, while, it was alleged, hoarding billions of cash. The CBN insisted enough new currency notes had been disbursed to the banks. Their word against theirs!

    There were reports too that some men of ways and means had seized millions of the cash which the banks were given; better still, the banks had sold millions of fresh notes to the big politicians, the very reason the new policy was introduced. Point-of-Sale operators became the most sought-after merchants of cash. Nigerians bought naira notes with cash, with some observing that the rate of exchange between old and new currency or access to the new currency was stronger than that of the American dollar. There was tension in banking halls where some customers, men, and women, railed and cursed in the nude. In a video shot in front of GTB in Aba, some customers brought a camp cooking gas and prepared the popular pasta meal ‘Indomie’ and the boisterous men ate the stuff directly from the pot while the meal was on fire! It was funfair! Suffering and smiling’ if I may reference the inimitable Fela Anikulapo-Kuti!

    The end of January deadline for the currency swap was extended by ten days and everyone thought there would be some respite. But we were hoping against hope. The President asked for seven days to reconsider its decision on the new currency. At a meeting with members of the House of Representatives, Mr. Godwin Emefiele changed policy and said that the old notes would be accepted after February 10, that is, after the legislators pointed out the relevant provision of the law in the CBN Act.

    In the early days after the currency change was announced, the nation’s Finance Minister stated publicly before legislators that she was not aware of the new policy. It showed clearly that this policy initiative was not arrived at after broad consultations in the finance sector. Emefiele boasted that he had the approval of the President, and a presidential spokesman authenticated the governor’s claim! But more chaos was in the making!  Which modern state changes its currency without the input of the Ministry of Finance?

    Early in the month of February, a meeting of some state governors with the president to ease the cash crunch did not achieve the desired result. Three state governments- Kaduna, Kogi and Zamfara- finally took the federal government to the Supreme Court which granted an interim order that the old currency should remain legal tender beyond the 10th of February. No one knows what the next week will bring! Some have said the Supreme Court’s decision is not enforceable. To increase the confusion, there was talk about the possibility of postponing the general elections scheduled to start on 25th of February. The Supreme Court, the highest judicial body in the land jumped into the fray of official confusion by giving victory to two appellants to the court; ironically, these men did not contest the party primaries of the APC! The spirit of jagajaga has moved squarely and perfectly into the country.  Apparently, there is nothing we can do. The spirit of Buharian democracy seems to go with the maxim: ignore the masses!

    In the song under reference which I have appropriated to title this essay, the young man poignantly lamented: ‘Nigeria jaga jaga/Everything scatter scatter/ Poor man dey suffer suffer/Gbosa gbosa gun shoot inna the air’. I recall that then President Olusegun Obasanjo chided Eedris for those ‘negative words’ in the lyrics and there was a threat to ban the music from the airwaves in Nigeria.

    In the light of the infinite madness of last week, what can we say about Nigeria jagajaga and the state of governance in our beloved country? Also, during this period, Ras Kimono’s Under Pressure musical album in which the reggae artist crooned that ‘some are crying/ some are dying/some are weeping, some are weling/everywhere/ let me go/under pressure under pressure’ which was released in 1989 started circulating freely on social media.

    Certainly, this is not how to govern a people or a country. The stone Age tactics which the military employed in their hypocritical years in power are antithetical to modern and scientific processes. A nation must take planning seriously. Planning requires the inclusion of all stakeholders both in the conception and implementation stages. Had there been broader consultations, the currency change would have taken place late last year or at a more appropriate time. The idea of taking people by surprise is old hat. Shocks are not good for the modern economy. There is too much anger and hunger in the land. In Turkey and Syria, the people are battling with the jagajaga caused by nature’s wrath. In Nigeria, the people are crying, suffering, and dying because of a disaster brought about by state officials’ foolishness and pusillanimous doddering. It is baffling that a party which seeking re-election in two weeks’ time could afford to unleash such sorrow, tears, and death on citizens. It is a recipe for a rejection at the polls.

    Governance is too serious a contractual arrangement to be left in the hands of asphyxiated minds and emotions. The federal government should put together a group of experts to advise it on the way forward. The CBN has been severely and fatally compromised and cannot be trusted to take sound economic decisions. If the spirit of jagajaga continues to reign over the people, there is no guarantee that civil strife will not be the last resort of the people. Mr. President, just release cash to the people of this country, especially the poor and lowly!  They are not the ones who will hoard money for elections!

  • What we are waiting for to start selling fuel at N195 per litre – IPMAN

    What we are waiting for to start selling fuel at N195 per litre – IPMAN

    The Independent Petroleum Marketers Association of Nigeria (IPMAN) has disclosed its members are still expecting the arrangements being made by the Nigerian National Petroleum Company Limited (NNPCL) for independent marketers to lift fuel at N172 so that they can start selling at N195 per litre.

    TheNewsGuru.com (TNG) reports IPMAN’s Chairman, Western Zone, Alhaji Dele Tajudeen, stated this in an interview in Ibadan on Friday while stressing that the Association’s members were not buying petrol at N172 per litre as being insinuated.

    Tajudeen described the report being circulated that IPMAN members were buying petrol for N172 per litre as misleading, far from the truth and capable of inciting the public against them.

    According to him, it is the NNPCL that is making arrangements for IPMAN members to lift petrol at the official price. He said that the new pricing arrangement had yet to materialise.

    “We are still expecting the arrangements being made by NNPCL for independent marketers to lift fuel at N172 so that we also can sell at N195 per litre which is the official price.

    “The report that emanated from some online media that members of the association have commenced lifting of petrol from the Ijegun-Egba tank farm in Lagos at ex-depot price of N172 per litre is not true.

    “The report, if not quickly debunked, is capable of inciting members of the public against IPMAN members. It is misleading and far from the truth.

    “We are committed to serving the Nigerian masses in truth and fairness, without taking advantage of them.

    “While waiting for the government’s agency in charge of petroleum products to come up with its arrangement for independent marketers, we will continue to serve Nigerians in truth,” Tajudeen said.

  • Cash, fuel scarcity: Lagos govt reduces transport fare by 50%

    Cash, fuel scarcity: Lagos govt reduces transport fare by 50%

    The Lagos State Government on Wednesday announced a 50 per cent cut in fares on all government-owned transportation system.

    Gov. Babajide Sanwo-Olu made the announcement at the Lagos House Marina, while addressing newsmen on the fuel shortage and currency exchange crisis in the country.

    Sanwo-Olu said that the 50 per cent fare reduction would take effect from Thursday and would be effective for seven days.

    He said that the currency exchange and the lingering fuel situation had, no doubt, raised the tension in the land, but thanked Lagos residents for their patience and understanding in the face of hardship experienced in recent days.

    Sanwo-Olu said the government had taken some steps to cushion the effects of these measures that were announced at the federal level, but with telling effects on states.

    ”Your resilience has been remarkable. On behalf of the Executive Council, I thank you most sincerely for standing firm, demonstrating your confidence in our ability to protect your interest in these difficult days.

    ”There have been talks between the state government and the Nigerian National Petroleum Corporation Ltd. (NNPCL) on the lingering fuel shortage.

    ”NNPCL demanded Ijegun Egba tank owners and operators unhindered access to the tank farms, where about 40 per cent of petroleum products come from.

    ”We have been able to do that by rearranging the timing of the work on the Buba Marwa Road, the dual carriageway that leads to the tank farms.

    “The road is over 50 per cent completed. Now, you would have noticed some improvement in the supply of petroleum products.

    ”Also, we have given approval for 24 hours work at petrol stations around the state,” he said.

    He said that the Central Bank of Nigeria (CBN) currency exchange deadline had, no doubt, caused some dislocation, and Lagos, being Nigeria’s business and financial engine-room was feeling the effects of the measure.

    He commended the Judiciary (Supreme Court) for the wise ruling on the currency exchange matter.

    ”To further support Lagosians to weather these stormy days, I hereby announce a 50 per cent cut in fares on all our BRT buses, LAGRIDE taxi-scheme, First Mile and Last Mile buses, and Lagos Ferry Services (LAGFERRY).

    ”This will take effect from tomorrow for the next seven days. We will push out more Cowrie Cards to enable more Lagosians get onboard our services.

    ”I have directed that food banks be set up in various parts of the state, to cater for the vulnerable. We will distribute food stuff to various communities.

    ”I would like to thank our security agencies (the Military, the Department of State Services, the Police, the Civil Defence and Neighbourhood Watch) for their service and diligence in these days.

    ”I would also like to warn mischief makers who may see this as an opportunity to incite violence that this is not the way to go. I enjoin every law-abiding citizen to go about their lawful business without fear,” Sanwo-Olu said.

  • NLC elects new excos, gives FG two weeks to end fuel queues

    NLC elects new excos, gives FG two weeks to end fuel queues

    The Nigeria Labour Congress (NLC) on Wednesday swore-in new executives, with Mr Joe Ajaero as the new president to lead the workers for the next four years.

    Ajaero, former General Secretary of the National Union of Electricity Union, was voted on consensus at the 13th NLC’s National Delegates Conference in Abuja.

    Ajaero took over the NLC leadership from Ayuba Wabba, who served between 2015 and 2023.

    In his acceptance speech, the new NLC president said that the executives were committed to pursuing the interest and desires of workers and the entire Nigerians.

    He promised that his leadership would speak for the millions of Nigerians and also seek a platform to lift them out of poverty.

    ”We, therefore, pledge our loyalty to the NLC, workers, the Nigerian people and the country. Our thoughts and actions shall be propelled by this avowal,” he said.

    He said that his leadership would pursue a new national minimum wage law that would take into consideration the objective reality of the socio-economic situation, and expand its reach to capture more workers.

    According to him, the wage review law will be sought through the national labour advisory council, to ensure that all loopholes exploited by workplace partners to restrict the efforts of making workplaces more decent compliance are blocked.

    ”We urge all employers of labour who have unsettled issues with their workers and unions to immediately resolve them to avoid our intervention,” he said.

    Ajaero urged the government to review the privatisation policy on electricity sector as it was mired in corruption.

    Other members of the executive include Prince Adewale Adeyanju, Deputy National President; Mr Audu Amber, 2nd Deputy National President; Mr Kabiru Sani, also a National Deputy President.

    Ambali Olatunji was elected the National Treasurer; Benjamin Anthony, Vice President; Mr Steve Okoro, Vice President; Mr Michael Nnachi, Vice President; Mr Olawole Sunday, Vice President; Mr Marwan Adamu, Financial Secretary.

    Others are, Mr Williams Akporeha, National Trustee; and three Internal Auditors, Mr Babatunde Olatunji, Mr Mohammed Ibrahim and Haruna Ibrahim; as well as two ex-officio members.

    Fuel: Ajaero urges FG to end queue in 2 weeks

    Meanwhile, the newly-elected President of the Nigeria Labour Congress (NLC), Mr Joe Ajaero, has urged the Federal Government to find a lasting solution to persistent fuel queues to avoid industrial action.

    Ajaero made the call on Wednesday while addressing workers at the 13th NLC National Delegates Conference in Abuja.

    He said that the government had two weeks to address the ongoing fuel scarcity to avoid reaction from organised labour.

    According to him, Nigerians suffer and queue to get fuel and that should not be.

    ”We will definitely not keep quiet in the face of this deliberate defilement of citizenship by the ruling elites as we may mobilise across the nation to nudge the government to act more responsibly towards the citizenry.

    ”We will also seek ways of alleviating the suffering that currently walks our streets with arrogance,” he said.

    On election, the NLC leader said that politicians should play according to the rules and avoid actions that could truncate the democratic process and imperil the nation.

    He said that the Independent National Electoral Commission (INEC) should ensure a transparent and equitable conduct of the elections at all levels, adding that Nigerians should also seize the opportunity to vote the right people into positions of power.

    ”Those that are destroying our nation and stealing our collective patrimony must not be allowed any longer in our corridors of power.

    ”As Nigerians, we must not allow them divide us along religious and regional lines. Our demands on the Nigerian State are basically the same.

    ”We are only asking for a secure nation where we can move freely and carry out our daily activities without violently losing our lives and properties.

    ”We have demanded equity and fairness in the sharing of our nation’s resources, functional and accessible education system for our children.

    ”That is increasing access to quality medical care, quality roads, increasing access to nutrition and generally elevating the factors that increase human wellbeing,” he said.

    Ajaero, therefore, advised the people to vote the candidates who have the competence and character to deliver on these demands in February and March.