National
New PMS pump price will push more Nigerians into poverty – economist
An Economic Expert, Dr Sand Mba-Kalu says the fuel price hike by NNPC Ltd.
from N617 per litre to N897 litre will push more Nigerians into poverty.
The expert said the sudden increase in Premium Motor Spirit (PMS) pump price the Nigerian National Petroleum Company Limited (NNPC Ltd.) was beyond a simple fuel price adjustment.
He said that it would have a far-reaching impact on Nigeria’s private sector, trade and the already suffering Nigerian masses.
Mba-Kalu, the Executive Director, Africa international Trade and Commerce Research said this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.
while reacting to the development.
NAN reports that NNPC Retail Management has approved upward review of the pump price from N617 per litre to N897 llitre, effective from Sept. 3, amidst economic hardship and persistent fuel scarcity.
Checks by NAN revealed that the NNPC retail stations have adjusted their pumps and totems (price boards), reflecting new PMS price of N897 against N617 per litre while independent marketers are selling between N930 to N1,200.
Mba-Kalu said without government interventions, the economic and social repercussions of this price hike could be severe and long-lasting, pushing more people into poverty.
“What we will witness is the immediate high cost of transport, which will lead to higher costs of food and inflation.
“In the long term, it could pose challenges for small and medium-sized enterprises (SMEs) and the agricultural sector,” the expert said.
He urged the Federal Government to acknowledge these implications and consider measures to reduce the impact, such as targeted incentives for energy efficiency, stopping wasteful spending, and reducing cost of governance.
“Without such interventions, the economic and social repercussions of this price hike could be severe and long-lasting, pushing more people into poverty,” he warned.
Mr Chris Nzeh, a motorist, who condemned the development, describing it as crazy, said what had been going on in Nigeria under the current government would only suffocate Nigerians.
“How do they want the average man to survive?
“We were told that with the removal of fuel subsidy, fuel will be available everywhere in Nigeria, but today, it appears NNPC Ltd. is scamming Nigerians.
“They are the sole importer of petroleum and they have refused to make refinery work and you ask yourself what is going on in Nigeria.
“Nigerians should rise and save this country from collapse,” he said.said.(NAN)
The Independent National Electoral Commission (INEC), has denied being partisan in handling the failed recall of the Senator representing Kogi Central, Senator Natasha Akpoti-Uduaghan.
The Chief Press Secretary to the Chairman of INEC, Rotimi Oyekanmi, who was on Channels Television’s Politics Today on Thursday, explained how the Commission handled the process.
“In the case of the Kogi Central District, we received a petition and a cover letter and of course what Nigerians were saying was that we were taking sides,” Oyekanmi said on the programme.
“But what happened was that in the covering letter, the representatives of the petitioners did not include their address as required in our regulations and guidelines and what we just did was to ask them to supply their address, it has nothing to do with the petition.
“And of course, there is nowhere in the law where INEC is asked to reject a petition just because the cover letter did not contain the address. So, there was no hanky-panky in what we did.”
Earlier on Thursday, INEC rejected the petition to recall Senator Akpoti-Uduaghan, saying that it has not met the requirements.
The electoral commission said the petition to recall Senator Natasha did not meet constitutional requirements.
Senator Natasha was suspended for breaching Senate rules, prompting some of her constituents to initiate her recall. They claimed the move was to ensure their constituency did not lack representation following the suspension of the 45-year-old senator.
Asked whether there could be a repeat of the recall process, the INEC spokesperson said the law did not specify if the process could be repeated and how many times.
“The law just talks about the threshold, the threshold meaning that if you want to recall, you must have, in addition to your petition, 50 per cent plus one signatures. The law did not specify how many times you can undertake that,” he said.
The lawmaker has made headlines in recent months after she accused Senate President Godswill Akpabio of sexual harassment, a claim the Akwa Ibom lawmaker has equally denied.
She was thereafter suspended by the Red Chamber for violation of its rule of conduct.
The National Security Adviser, Mallam Nuhu Ribadu, has handed over 19 kidnapped victims rescued by the security agencies to the Chief of Defence Staff, General Christopher Musa.
The brief ceremony took place on Thursday at the National Counter Terrorism Centre (NCTC), Office of the National Security Adviser in Abuja.
The victims included Ambassador Gideon Yohanna, the former Director-General of National Youth Service Corps (NYSC), Brigadier-General Maharazu Tsiga (retired) who had spent 56 days in captivity and 17 others, including a child.
Both Ribadu and Musa pledged to remain relentless until the criminals are wiped out and normalcy restored in the country.
“As a result of the work of our armed forces and other security services, we are able to rescue and bring back our own people,” he said.
“This time, it involves important personalities who served this country. We thank God for their lives, we are grateful to those who made it possible.
“This is an ongoing operation and we are doing it quite silently, we will go after the bad ones.”
Senator Natasha Akpoti-Uduaghan on Thursday applauded the Independent National Electoral Commission (INEC) for rejecting a petition to recall her as the lawmaker representing Kogi Central Senatorial District.
The female lawmaker, who was a guest on Channels Television’s Politics Today, said the electoral umpire should have thrown out the petition long before it did on April 3, 2025.
“I’m a lawyer. I’m a senator and I understand how Nigeria works. For me, the most important thing is this recall process has been stalled.
“I give kudos and credit to INEC even though I believe they should have thrown it away from the get-go.
“I think it was void ab initio because there is no law in the Electoral Act that says a petition should be discarded just because there is no address but again, what if the address is false?”
The Peoples Democratic Party (PDP) chieftain argued that most of the addresses provided in the petition for her recall were false because most houses in her district weren’t labelled.
“Even though INEC did count 208,000 signatures, I bet you if they had gone into the verification stage, they would have struggled to even have 500 people come out to attest to signing that,” she added.
She accused Senate President Godswill Akpabio, Governor Usman Ododo and ex-governor Yahaya Bello of sponsoring her failed recall.
In a much-awaited statement on Thursday, INEC said the petition for the recall of the lawmaker did not met the requirement of Section 69(a) of the Constitution of the Federal Republic of Nigeria 1999 (as amended).
“Therefore, no further action shall be taken on the recall of the Senator,” INEC declared.