By Straightnews
Senator representing Borno South, Mohammed Ali Ndume, is unhappy over the plights of Nigerians, asking President Bola Ahmed Tinubu to consider reducing fuel and food prices.
Ndume said the astronomical increase in the prices of fuel, food, essential goods and services in the country is threatening the very existence of Nigerians.
Since the removal of fuel subsidy by Tinubu in May 2023, prices of goods and services have risen, thrusting hardships on many homes in the country.
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In a statement on Friday in Abuja, the Senator blamed the situation on “bad elements sabotaging the administration of President Tinubu.”
Ndume lamented that families in Borno were suffering, stressing that farmers could no longer transport their goods to the market for sale due to high cost of transpiration.
The ranking senator said, “I personally believe President Bola Ahmed Tinubu mean well for Nigeria and Nigerians. I know this because I know what he stands for. But some of his advisers who don’t mean well for the people of this country give him wrong advice.
“I’m appealing to him to resist these bad people who want to pitch the people against his administration. The hardship these people are inflicting on Nigerians is becoming unbearable.
“As soon as the President returns to Nigeria, I urge him to look into these issues and address them urgently. The purchasing power of Nigerians is too poor, and they can’t afford the things that are being pushed on them every day by enemies of state.”
It is illegal for NNPCL to fix petrol prices- Falana
Meanwhile, human rights lawyer, Femi Falana, says it is illegal for the Nigeria National Petroleum Company Limited (NNPCL) to fix petrol prices.
In a statement on Thursday, Falana said the action by the petroleum company contravened the provisions of the Petroleum Industry Act (PIA).
Falana said though the NNPCL claimed the market has been deregulated and market forces now determine petrol prices, “the NNPCL fixed the price of fuel refined by the Dangote Refinery and Petrochemical Company Limited last month. The so-called market forces were not allowed to fix the price”.
“Yesterday (Wednesday), the Nigeria National Petroleum Company Limited announced new pump prices of fuel refined by the Dangote Refinery and Petrochemical Company. Once again, the so-called market forces were not allowed to fix the new prices of fuel.
“The decisions of the NNPCL to fix the prices of imported fuel and locally refined fuel are illegal, nullity and void as they contravene the provisions of section 205 of the Petroleum Industry Act which stipulates that the prices of petroleum products shall be determined by market forces,” he said.
Nigerians woke up to another shocker on Wednesday morning when NNPCL retail outlets adjusted the pump price of petrol in Lagos and the Federal Capital Territory (FCT), Abuja.
According to a Friday statement by the Minister of Finance and the Coordinating Minister of the Economy, Wale Edun, the move followed a directive from the Federal Executive Council (FEC) and the implementation of the new naira-based sales mechanism.
“New Direct Purchase Model: The most significant change under the new regime is that petroleum product marketers can now purchase PMS directly from local refineries,” the minister who chairs the Implementation Committee on the Sales of Crude Oil and Refined Products in Naira said.
“This marks a departure from the previous arrangement where the Nigerian National Petroleum Corporation (NNPCL) served as the sole purchaser and distributor of PMS from the refineries.”
‘Smoother Supply Chain’
With the move, marketers can now negotiate commercial terms directly with the refineries which the minister said will help in “fostering a more competitive market environment and enabling a smoother supply chain for petroleum products”.
The minister said in the committee’s meeting on October 10, it also agreed that the commencement of local production of PMS will be a game changer for the industry.
“This transition is expected to enhance efficiency in product availability and stabilize market conditions for the benefit of all Nigerians,” Edun said.
He assured the committee is ready to provide clarity regarding changes in the market.
“We are committed to providing clarity on this development and will continue to engage with stakeholders to ensure a seamless transition process,” he assured.
NNPCL Owes Us – Marketers
The development is seen as a boost to petroleum marketers across the country who have repeatedly asked that they be allowed to lift the product from the Dangote Refinery located in Lagos.
On Thursday, the Independent Petroleum Marketers Association of Nigeria (IPMAN) said the Nigerian National Petroleum Company Limited (NNPCL) owes it “almost N15 billion” and has failed to supply products to its members.
Roughly now, they are owing us almost getting to N15bn,” IPMAN’s National President Abubakar Garima said on Channels Television’s Sunrise Daily.
“Our money has been with the NNPCL for almost three months now. Either they sell for us at the same rate they are getting the product from Dangote Refinery or refund us so we can buy directly from Dangote Refinery,” Garima said.
The allegation came in the wake of NNPCL’s most recent adjustment of the petrol pump price in its retail outlets in Lagos and Abuja.
NNPCL outlets in Lagos sold a litre of petrol for ₦998 from the initial price of ₦855. In Abuja, it went to ₦1,030 from ₦897. In other filling stations, the price of the product goes for as much as ₦1,050 in some parts of Lagos State.
