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NNPCL’s 1.6 billion liters PMS importation: A betrayal to Nigeria’s economic stability – CSOs

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The Nigerian Coalition of Civil Society Organizations (NICOCSO) has strongly condemned the Nigerian National Petroleum Company Limited (NNPCL) for importing 1.6 billion liters of Premium Motor Spirit (PMS), describing it as a “betrayal of the Nigerian people and a threat to economic stability.

Addressing a press conference in Abuja on Thursday, the NICOCSO spokesman, Kennedy Tabuko, argued that this action will strain Nigeria’s foreign exchange reserves, exacerbate the devaluation of the Naira, and undermine the country’s vision for energy self-sufficiency.

Mr. Tabuko also criticized the imported PMS for being of inferior quality, causing damage to vehicles and livelihoods.

He said: “The decision by NNPCL to bring in over 1.6 billion litres of Premium Motor Spirit (PMS) can only be viewed as an act of economic sabotage. This action places unmanageable strain on Nigeria’s already shrinking foreign exchange reserves and exacerbates the devaluation of the Naira.

“A weakened currency elevates inflation, raises the prices of goods and services, and makes daily life increasingly challenging for ordinary Nigerians. This misguided approach undermines our vision for energy self-sufficiency and stalls the development of local refining capabilities.

“It is alarming to discover that a significant portion of the imported PMS is believed to be of inferior quality, leading to extensive damage to vehicles and jeopardizing livelihoods. For taxi drivers, business owners, and everyday citizens, the costs associated with repairing damaged engines are overwhelming. How can a nation blessed with abundant crude oil be forced to rely on subpar imports that threaten the assets of its people?

“For years, the Nigerian populace has been assured of functional refineries. However, despite the staggering investment of over $20 billion since 2007, our refineries remain in disrepair. Rather than prioritizing the establishment of local refining, NNPCL continues to foster a dependency on imports, stifling opportunities for local investment, economic growth, and job creation”, he said.

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NICOCSO spokesman , however, demanded accountability from NNPCL and the government, seeking transparency in the procurement process and the removal of NNPCL leaders responsible for the detrimental decisions.

The group has announced nationwide rallies starting from Abuja on November 21, 2024, to demand accountability and transparency.

“We invite all Nigerians to join us in our demand for accountability, transparency, and policies that support local industries over dependency on imports”, he said.

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Court adjourns bail application for detained Ohanaeze youth president

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An Ebonyi Magistrate’s court sitting in Abakaliki on Thursday adjourned hearing on a bail application for the release of the detained national president of the Ohanaeze Youth Council (OYC), Mr Igboayaka Igboayaka until March 12.

Igboayaka was arrested in Owerri on Feb. 8 by operatives of Anti-Kidnapping Unit, Ebonyi Police Command after winning reelection for a second term as the president of the Council.

He was subsequently brought to Abakaliki, where he was detained by the police.

Igboayaka was later arraigned on Feb. 12 at the Abakaliki magistrate court on a felony charge and was remanded at the Abakaliki Medium Custodial Centre.

The Magistrate, Mrs Sandra Ifeanyi-Oyibe, ruling on the bail application brought by the defence counsel, Mr Obinna Ekeke, said that the defendant was appearing before the court for the first time after he was remanded on Feb. 12.

But Ekeke, however, argued that the bail application was made consequent on the deteriorating health condition of the defendant and appealed to the magistrate to grant the request in the interest of justice.

“If not for the health condition of the defendant, we won’t stress ourselves; and it won’t serve us any good, the society, the interest of justice if this young man’s life is lost because of this case.

“This is my first time of appearing before this honourable court and this application for bail bears a mark of the Supreme Court, which has made a clear position on this.

” I strongly believe that this court has jurisdiction to allow bail even without application,” Ekeke said.

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The magistrate noted that the matter was coming up for the first time for hearing after the suspect was remanded after his arraignment.

She said: “This is the first time this matter is coming up after the remand; you also know that you can make this application at the High Court , so if by the next adjournment and the law says 14 days, you can apply for bail especially if it’s not a capital offence.

“Therefore , the matter is hereby adjourned to March 12 for compliance,” Ifeanyi-Olive ruled.

The News Agency of Nigeria (NAN) reports that the prosecution counsel was absent in court.

Igboayaka, 42, alongside others now at large, are facing trial for alleged conspiracy to commit felony and accusations of causing extreme fear to the people of Amegu Nkalagha community in Ishielu Local Government in Ebonyi (NAN)

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Oscar-winning actor, Gene Hackman, wife found dead at home

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Oscar-winning U.S. actor, Gene Hackman, 95, his wife, Betsy Arakawa, 63, and their dog were found dead in their Santa Fe home, in New Mexico.

Adan Mendoza, Santa Fe County Sheriff, in a statement said:”We can confirm that both Gene Hackman and his wife were found deceased Wednesday afternoon at their residence on Sunset Trail.

“This is an active investigation, however, at this time we do not believe that foul play was a factor.”

The News Agency of Nigeria (NAN) reports that Hackman was known for iconic roles in movies like : ‘The French Connection’, ‘Unforgiven’ and ‘The Royal Tenenbaums’.

He was a two time Academy Award winner and retired from acting in 2004.

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FG to regularise Band B, C electricity tariffs

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Federal Government has said it plans to regularise electricity tariffs of Bands B, C and A customers to ensure a more efficient and reliable power sector,

The Minister of Power, Mr Adebayo Adelabu, said this at the Public Presentation of the National Integrated Electricity Policy and Nigeria Integrated Resource Plan in Abuja on Thursday.

The ministry put the document in place with the support from UK Foreign, Commonwealth and Development Office (FCDO) and the UK Nigeria Infrastructure Advisory Facility (UKNIAF).

The News Agency of Nigeria (NAN) reports that under the current structure, customers in Band B, who enjoy 18 to 17 hours of electricity supply pay N63 per kilowatt-hour.

Those in Band A, with only two hours more of supply, are charged N209 per kilowatt-hour

Adelabu said that in 2024, the power sector adopted cost reflective tariff for a portion of electricity consumers about 15 per cent, it might look small but it is a way forward.

“It was pilot and a proof of concept which I believe it had worked the people that are enjoying 20 to 24 hours of electricity supply in a day are happy.

“ They are satisfied in spite of the fact that they are paying N209 per kilowatt-hour as they believe they are better off than when using generators.

“We believe that as we continue to work on revamping our distribution and transmission infrastructure, more and more people will be migrated to Band A,“ he said.

Adelabu also said that as a result of the migration of some customers to Band A, the power sector recorded a 70 per cent growth in its revenue from N1.05 trillion in 2024 to about N1.7 trillion.

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The minister said: “We will look at the tariff again. I am not saying that we’re going to increase the tariff before I am misquoted.

” We are going to look at the tariff and see how we can improve on our modest achievement of 2024 not only to grow the sector revenue.

` But to also ensure that we are able to invest more in revamping the dilapidated infrastructure in the power sector so that they can carry the kind of reliable electricity we envisage for the power sector.

“We thought the migration of Band B and C customers will be faster that this but the Electricity distribution Companies (DisCos) have refused to invest in the power sector, ” he said.

According to him, a lot of investment was required to achieve accelerated migration of lower-band customers into Band A.

He said that the reqularisation of the tariff Band B and C customers to Band A would be done at a slow pace. (NAN)

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