News
Petrol Pump Price Drops To N114.53 Per Litre

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.
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I’m Committed To Community Dev – Ajinwo
News
RSG Tasks Rural Dwellers On RAAMP …As Sensitization Team Visits Akulga, Degema, Three Others

Rivers State Head of Service, Dr (Mrs) Inyingi Brown, has called on rural communities in the State to embrace the Rural Access and Agricultural marketing project (RAAMP) with a view to improving their living conditions.
This follows the ongoing sensitization campaign by the State Project Implementation Unit (SPIU) visits to Degema, Abonnema, Afam headquarters of Degema, Akuku Toru and Oyigbo Etche and Omuma local government areas respectively.
Dr Brown who was represented by the Deputy Director, Special Duties in her office, Mrs Dein Akpanah, said RAAMP was initiated by the Federal Government and World Bank to economically empower rural dwellers.s
She said the World Bank understands the plights of rural farmers and traders in the State, and therefore came up with the programme to address them.
According to her, RAAMP will improve the conditions of farmers, traders and fishermen, and therefore, behoves on every rural communities in the State to embrace the programme.
The Head of Service also said the programme would support the youths to be gainfully employed while bridges and roads will be built to link farms and fishing settlements.
Also speaking, the State project coordinator, Mr Joshua Kpakol, said the programme has the potential of creating millionaires among farmers and fishermen in the State.
Kpakol who was represented by Engr. Sam Tombari, said RAAMP would help farmers and fishermen to preserve their produce.
According to him, the project will build cold rooms and Silos for preservation of crops and fishes while access roads will also be created to link farmers and fishermen to the market.
He, however, warned them against any act that will lead to the suspension of the projects by the World Bank.
Kpakol particularly warned against acts such as kidnapping, marching ground, gender based violence and child labour, adding that such acts if they occur may lead to the cancellation of the project by the World Bank.
During the visit to Oyigbo local government area, Mr Joshua Kpakol, said the team was there to let them know how they will benefit from the Raamp.
The coordinator who was personally at Oyigbo said the World Bank introduced the project to check food insecurity in the State.
He said already 19 states in Nigeria are already benefitting from the project and called on them to embrace the project.
Meanwhile, stakeholders in the three local government areas have commended the World Bank for including their areas in the project.
They, however, complained over the incessant attacks by pirates on their waterways.
At Degema, King Agolia of Ke kingdom said land was a major problem in the kingdom.
King Agolia represented by High Chief Alpheus Damiebi said many indigenes of the kingdom are willing to go into farming but are handicapped by lack of land.
Also at Degema, the representative of the Omu Onyam Ekeim of Usokun Degema kingdom, Osoabo Isaac, said Degema has embraced the programme but needed more information on the implementation of the programme.
Similarly, while High Chief Precious Abadi advised that the project should not be narrowed to only crop farming, a community women leader, Mrs Orikinge Eremabo Otto, called for the construction of cold rooms in all fishing settlements in the area.
At Abonnema, Mr Diamond Kio linked the problem of the area to incessant piracy along waterways.
He also expressed fears over the possibility of the project being hijacked by politicians.
Also at Abonnema, a stakeholder, Ikiriko Kelvin, called on the World Bank to design an agricultural project that will suit the riverine environment, while at Oyigbo, HRH Eze Boniface Akawo expressed satisfaction with the project.
John Bibor
News
Senate Replaces Natasha As Committee Chairman

The political mudslinging between the Senate leadership and Senator Natasha Akpoti-Uduaghan continued yesterday as the Senate named Senator Aniekan Bassey as the new Chairman of the Committee on Diaspora and Non-Governmental Organisations.
Senate President, Godswill Akpabio, announced the appointment during yesterday’s plenary, confirming Bassey’s replacement of Senator Natasha Akpoti-Uduaghan, who is currently on suspension.
Akpoti-Uduaghan was reassigned to the Diaspora and NGOs Committee in February after she was removed as Chair of the Senate Committee on Local Content during a minor reshuffle.
Bassey is the senator representing Akwa Ibom North-East Senatorial District.
Although no reason was given for her removal yesterday, the change is believed to be connected to her unresolved suspension.
In May, Justice Binta Nyako of the Federal High Court ordered her reinstatement and directed her to tender an apology to the Senate.
However, the Senate has insisted it has not received a certified true copy of the court judgment.
Akpoti-Uduaghan who represents Kogi Central, has yet to resume her legislative duties despite a recent court ruling that voided her suspension.
In a televised interview on Tuesday, Akpoti-Uduaghan said she was awaiting the Certified True Copy of the judgment before officially returning to plenary, citing legal advice and respect for institutional process.
Although the Federal High Court described her suspension as “excessive and unconstitutional”, a legal opinion dated July 5 and attributed to the Senate’s counsel, Paul Daudu (SAN), argued that the ruling lacked any binding directive to enforce her reinstatement.
Akpoti-Uduaghan, one of only three female senators in the current assembly, said the continued delay in allowing her return was not only a denial of her mandate but also a blow to democratic representation.
“By keeping me out of the chambers, the Senate is not just silencing Kogi Central, it’s denying Nigerian women and children representation. We are only three female senators now, down from eight,” she said.
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