News

Petrol Pump Price Drops To N114.53 Per Litre

Published

6 years ago

March 13, 2020

The expected open market price of Premium Motor Spirit, popularly known as petrol, has dropped to N114.53 per litre, N30.47 lower than the approved pump price of the product.
It was gathered on March 2, 2020, that the sharp drop in crude oil prices on the back of the spread of Coronavirus had wiped off subsidy on petrol.
The landing cost of petrol plunged to N123.88 per litre on February 27, and the product was expected to be sold at N143.25 that day if the price of the product was adjusted to reflect the change in crude oil prices, according to Petroleum Products Pricing Regulatory Agency (PPPRA).
The latest pricing template obtained by our correspondent from the PPPRA showed that the landing cost declined further to N95.16 per litre on March 10 from N115.52 per litre on March 6.
The expected open market price of the product fell to N114.53 per litre on Tuesday from N134.89 per litre, last Friday.
The international oil benchmark, Brent crude, has been on a downward trend since the Coronavirus broke out in China.
It tumbled by as much 30 per cent on Monday to $31, its lowest in four years as Saudi Arabia launched a price war.
The expected open market price of petrol was N182 per litre at the end of last year as Brent, against which Nigeria’s oil is priced, traded around $67 per barrel.
With the recent steep fall in crude oil prices, the cost of petrol plus freight dipped to $379.37 per metric tonne (N86.84 per litre) on Tuesday from $466.43 per MT (N106.78 per litre), last Friday, according to the PPPRA.
The cost plus freight, which stood at $668.29 per MT (N152.99 per litre) on December 31, 2019, fell to $502.29 per MT (N114.97 per litre) on February 27, 2020.
Nigeria, Africa’s largest oil producer, relies largely on importation for petrol and other refined products as its refineries have remained in a state of disrepair for many years.
While the diesel and kerosene prices had been deregulated, the government still pay subsidy to make petrol cheaper at the pump.
The landing cost of petrol has fallen by 41.5 per cent since December 31, 2019 when it stood at N162.68, the PPPRA data showed.
Apart from the cost and freight, other cost elements that make up the landing cost are lightering expenses (N2.75), Nigerian Ports Authority charge (0.84), Nigerian Maritime Administration and Safety Agency charge (N0.22), jetty throughput charge (0.60), storage charge (N2.00) and financing (N2.49).
The EOMP is the sum of the landing cost and the total distribution margin, which the PPPRA put at N19.37.
The Nigerian National Petroleum Corporation (NNPC) has been the sole importer of petrol into the country for more than two years, after private oil marketers stopped importing the commodity due to crude price fluctuation, among other issues.

News

HoS Hails Fubara Over Provision of Accommodation for Permanent Secretaries

Published

1 day ago

February 2, 2026

The Tide

The Head of Service (HoS) of Rivers State, Dr. Mrs. Inyingi S. I. Brown, has commended Governor Sir Siminalayi Fubara, GSSRS, for approving befitting accommodation for Permanent Secretaries in the state.

This commendation was contained in a press release made available to newsmen in Port Harcourt.

According to the Head of Service, Governor Fubara has continued to demonstrate uncommon commitment to the welfare of civil servants in Rivers State, stressing that such gestures underscore his people-oriented leadership style. She urged civil servants across the state to remain supportive of the governor’s administration in order to sustain good governance and effective public service delivery.

Speaking on behalf of the Body of Permanent Secretaries, Dr. Brown congratulated Governor Fubara on the occasion of his 51st birthday, describing him as “a Governor who leads by serving.”

She further praised the governor’s service-driven and people-centred leadership approach, noting that it has significantly contributed to institutional stability and improved efficiency within the state’s public service. Special appreciation was expressed for the approval of a befitting accommodation complex for Permanent Secretaries, which she said reflects the governor’s commitment to staff welfare and enhanced productivity.

As part of activities to mark the governor’s birthday, the Body of Permanent Secretaries announced the sponsorship of 329 Joint Admissions and Matriculation Board (JAMB) forms for indigent students across the state.

A breakdown of the initiative shows that 319 forms will be distributed across the 319 political wards in Rivers State, while five forms are allocated to non-indigenes and five forms to persons living with disabilities.

Interested applicants are advised to contact the Office of the Permanent Secretary, Ministry of Education, for further details.

The Body of Permanent Secretaries wished Governor Fubara continued good health, divine wisdom, and greater accomplishments in his service to the people of Rivers State.

By John Bibor

News

Allegation of Disrespect to President Tinubu Unfounded — Rivers Government

Published

1 day ago

February 2, 2026

The Tide

The attention of the Rivers State Government has been drawn to a statement credited to an acclaimed Rivers State chapter of the National Youth Council of Nigeria (NYCN), purportedly authored by one Bestman Innocent Amadi, alleging that the Governor of Rivers State, His Excellency Sir Siminalayi Fubara, GSSRS, removed the official portrait of the President of the Federal Republic of Nigeria, President Asiwaju Bola Ahmed Tinubu, from the Government House, Port Harcourt.

For the avoidance of doubt, the Rivers State Government wishes to categorically state that there is no policy, directive, or intention on the part of the government or the Governor that disrespects the President of the Federal Republic of Nigeria or undermines the authority of the Federal Government.

On the contrary, the Rivers State Government, under the leadership of Governor Siminalayi Fubara, currently enjoys a robust, cordial, and collaborative relationship with the Federal Government, President Bola Ahmed Tinubu, and the Renewed Hope Agenda—a partnership that is already yielding positive and tangible benefits for the people of Rivers State.

Consequently, the insinuation that the Governor acted out of “ingratitude” or “disrespect” is misleading, irresponsible, inflammatory, and entirely unsupported by verifiable facts, and should therefore be disregarded by the public.

It is regrettable that a body expected to promote youth unity, peace, and responsible engagement would resort to incendiary language, personal attacks, and unsubstantiated claims capable of overheating the polity at a time when Rivers State requires calm, dialogue, and mature leadership.

The Rivers State Government therefore calls on well-meaning members of the public, particularly its esteemed and hardworking youths, to disregard and dissociate themselves from individuals or groups bent on advancing divisive rhetoric and falsehoods for political purposes.

Rivers State belongs to all of us. Political differences must never be allowed to override truth, civility, peace, and the collective pursuit of progress.

Members of the public are further urged to remain vigilant and avoid lending credence to inflammatory statements or the activities of fifth columnists pursuing dubious agendas aimed at sowing discord.

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News

Rivers Government Dismisses Allegations of Disrespect to President Tinubu

Published

1 day ago

February 2, 2026

The Tide

The Rivers State Government has dismissed as unfounded and misleading allegations that Governor Sir Siminalayi Fubara removed the official portrait of President Asiwaju Bola Ahmed Tinubu from the Government House in Port Harcourt.

In a statement issued on Tuesday, the state government reacted to claims credited to an acclaimed Rivers State chapter of the National Youth Council of Nigeria (NYCN), describing the allegation as false, irresponsible, and unsupported by any verifiable facts.

The government clarified that it has no policy, directive, or intention that disrespects the President of the Federal Republic of Nigeria or undermines the authority of the Federal Government. It emphasized that Governor Fubara maintains a cordial, respectful, and collaborative relationship with President Tinubu and the Federal Government.

According to the statement, the relationship between Rivers State and the Federal Government has grown stronger under the Renewed Hope Agenda, with tangible benefits and positive impacts already being felt by residents of the state.

The Rivers State Government described insinuations that the governor acted out of “ingratitude” or “disrespect” as deliberately provocative, noting that such claims are capable of misleading the public and unnecessarily heating up the polity.

It further expressed concern that an organization expected to promote youth unity and peace would engage in what it termed incendiary language, personal attacks, and unsubstantiated accusations at a time when the state requires calm, dialogue, and responsible leadership.

The government called on well-meaning members of the public, especially the youths of Rivers State, to disregard the claims and dissociate themselves from individuals or groups spreading divisive rhetoric and falsehoods for political purposes.

Reaffirming its commitment to peace, unity, and progress, the state government stressed that political differences must never be allowed to override truth, civility, and the collective interest of the people.

Members of the public were also urged to remain vigilant and not give attention to inflammatory statements or individuals described as fifth columnists bent on causing division within the state.