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No Plan To Increase Petrol Pump Price -PPPRA

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8 years ago

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The Acting Executive Secretary of the Petroleum Products Pricing Regulatory Agency (PPPRA), Mr Victor Shidok,  on Monday in Abuja said there was no plan to increase the price of petrol.
Shidok said this at a joint news briefing with the Executive Secretary of the Petroleum Equalisation Fund (PEF), Alhaji Ahmed Bobboi.
Represented by the agency’s General Manager Operations, Mr Supo Agbaje, Shidok insisted that the increase of N1 in bridging costs from N6.20 to N7.20 for petroleum marketers would have no effect on the price of petrol.
Also known as Premium Motor Spirit (PMS), there had been panic buying since the National Union of Petroleum and Natural Gas Workers (NUPENG) threatened strike, which has since been called off.
“As the Agency of government responsible for petroleum products price adjustment, we wish to categorically state that the price cap for PMS remains N145 per litre.
“The additional N1 per litre transporters’ bridging rate shall not in any way translate to an upward review of PMS pump price. This information has been communicated to all stakeholders accordingly.
“The Minister of State for Petroleum Resources uses this opportunity to again assure all stakeholders and members of the public of uninterrupted products supply and distribution.
“This is in pursuant to the overall goal of facilitating a vibrant and robust downstream oil and gas sub-sector,’’ he said.
Bridging is the amount paid transport owners who truck petroleum products to all parts of the country to ensure that the consumer in Gwoza (North) and Shagamu (South) get petroleum products at the same price.
He explained that due to fluctuating FOREX rates a ministerial committee comprising industry stakeholders was set up to review PMS pricing template and cost structure.
“In the process of its intervention, the committee identified a possible saving if N1 per litre…. this was made possible by the PPPRA mandate which constantly reviews all indices relevant to petroleum products pricing policy.
“The committee recommended that the savings of N1 per litre from the lightering expenses be added to the bridging fund to address the concerns of transporters.’’
The co-convener of the news conference, Alhaji Ahmed Bobboi of PEF, said freight rates for PMS had been adjusted and the increase in bridging costs was government’s solution to assisting transporters.
Bobboi said: “The increase in N1 will be utilised to pay the marketers. There are no fixed freight rates, each distance now attracts a new rate.
“Yes, it is true that we owe marketers a backlog but it also true that marketers owe PEF. There’s an effort by PEF to reclaim these outstanding liabilities. When we get them, the marketers will get paid.’’
He also said the request was sent to the ministry and the marketers will start receiving payment from April 3.
Special Technical Adviser to the Minister of State for Petroleum Resources on Downstream and Infrastructure, Ms Brenda Ataga,  assured consumers that all reviews made by government were in the consumers’ best interest.
On mega stations, she said the Plan 4 of the 7 Big Wins launched last year by the government focused on refineries and local production capacity.
The Plan 4 seeks a Comprehensive Rehabilitation and Revamp of Existing Refineries and expansion of domestic refining capacity (Co-location, greenfield, modular).
Ataga said the government was committed to siting at least one modular refinery in all of the Niger Delta states.
“Government is committed to looking inwards at all times to ensure that commercial activity, consumers do not have to pay more for products,’’ she said.

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NPA Assures On Staff Welfare 

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2 weeks ago

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June 27, 2025

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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2 weeks ago

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June 27, 2025

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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2 weeks ago

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June 27, 2025

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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