News
Nigeria To Spend N750.81bn On Fuel Subsidy In 2020
The Federal Government is expected to spend N750.81billion on petrol subsidy in 2020, latest data from the Petroleum Products Pricing Regulatory Agency have shown.
For more than two years, the Nigerian National Petroleum Corporation has shouldered petrol subsidy’s spending on behalf of the Federal Government.
It was observed from the PPPRA’s data obtained on Tuesday that the N750.81billion was N300.81billion higher than the N450billion which the Minister of Finance, Zainab Ahmed, recently said had been approved for subsidy in 2020.
The minister had during the public presentation of the 2020 budget details stated that a provision of N450billion had been made for ‘under-recovery’ of cost in respect of the importation of the Premium Motor Spirit, popularly called petrol.
According to her, this cost will be borne by the NNPC as part of its operations cost as currently being practised.
“A provision has been made in the budget for under-recovery for the PMS in the sum of N450billion provided in the fiscal framework. It is under-recovery because it is a cost operation for the NNPC,” Ahmed had said.
But figures obtained by our correspondent in Abuja from the PPPRA pricing template for petrol showed that the Expected Open Market Price for the commodity hovered between N165 and N178 per litre in the months of November and December 2019.
Operators stated that the fluctuation in the EOMP of petrol was due to the instability in the international price of crude oil.
The Organisation of Petroleum Exporting Countries and its allies have been working hard to ensure that crude oil price does not slip below the $60 per barrel price, which it has maintained for several months.
Taking randomly selected days from the PMS pricing templates of the PPPRA, for instance, the EOMPs for petrol on December 5, 4, 3 and 2 were N171.12/litre, N170.36/litre, N165.98/litre and N166.44/litre respectively.
On November 29, 25 and 21, also selected randomly, the EOMPs for petrol were N169.48/litre, N178.92/litre and N172.81/litre respectively.
Further findings showed that the ex-depot price for collection of petrol from the NNPC, which is the sole importer of the commodity into the country currently, remained at N133.28/litre.
The difference between the EOMP and the ex-depot price for collection of petrol for the selected days showed that the NNPC had been spending an average of about N37.4 on every litre of petrol consumed in Nigeria.
The national oil firm puts the daily consumption of petrol in Nigeria at about 55 million litres.
When this is multiplied by the 365 days in 2020 and at an average subsidy spending of N37.4 on every litre of petrol, the NNPC would be incurring a total of about N750.81billion as petrol subsidy by next year.
News
Elder Statesman, Others Emerge PH Boat Club’s New Officials
The Port Harcourt Boat Club 1947 has elected new officers to pilot its affairs.
An elder statesman and staunch supporter of Governor Siminalayi Fubara, Sir Kingsley Fubara Hart emerged the club’s Secretary.
Sir Hart’s emergence followed an election conducted by the electoral committee over the weekend which threw up new officials to pilot its affairs at its corporate headquarters in Port Harcourt.
The election which was adjudged one of the most credible, fairest and freest elections in the annals of the Port Harcourt Boat Club 1947, saw the emergence of Dan Harrison as Chairman.
Other members elected to run the activities of the body are Chief Coker Jimmy, Dr Oma Awoh, Chief Bib- Manuel Afonya, Dawari Dingo, Dango Kala- Otaji, Bara Alagoma and Dago George.
Recall that Port Harcourt Boat Club 1947 was founded by the former Military Governor of old Rivers State, King Alfred Diete-Spiff.
Many years after its inception, the club is still waxing strong with notable personalities as members.
Former Secretary to the Rivers State Government, Chief AbiyeSekibo is also a prominent member of the club.
The elected officials including Sir Kingsley Fubara Hart were subsequently sworn in, signalling a new chapter for the revered group of bigwigs in the oil- rich region.
With the likes of an elder statesman, Sir Kingsley Fubara Hart on board, the narrative has changed for Port Harcourt Boat Club 1947 as expectations are high.
The newly elected boat Secretary, Sir Fubara Hart promised to work assiduously with the chairman and other members to chart a new course for the esteemed club.
He said efforts are in top gear to enroll new members who will contribute their quota to the advancement of the club.
Sir Hart described his emergence as an act of God, promising to support the new leadership to achieve the desired objective.
He hinted that the core values of the club would be upheld with vigour, saying working in synergy with the principles laid down by its founders remains their watchword.
He said the rules and regulations of the club shall be sustained in the interest of the club and every legitimate member.
News
New Oneh Eta Akpajo Emerges
The Akpajo Clan in Eleme Local Government Area was recently agog with activities following the coronation of HRH Emere Sunday Obo as the Oneh Eta Akpajo XII/paramount ruler of Akpajo clan in Eleme Local Government Area of Rivers State.
Emere Obo was crowned by the traditional staff bearer of the clan, Chief Joseph Goka on behalf of the land priests at the community square.
Before his coronation, the new King was an acting traditional ruler of the community since the death of his predecessor, Emere Friedrich on the 11th of January, 2023.
He was also a member of the late King’s Council of Chiefs and member of Nchia and Eleme Council of Chiefs respectively.
Speaking with newsmen shortly after his coronation,the new Akpajo monarch said his reign will usher in peace and prosperity to the Kingdom.
He said he intends to work together with the government and companies operating in the Kingdom to attract development to Akpajo clan.
According to the monarch, he will always seek the advice of his elders and other clansmen before taking any decisions.
“I have promised them that I cannot use my authority to do anything without hearing from them first,” he said.
Emere Obo also stressed the need for the youths in the area to toe the path of peace, adding that as a traditional ruler, his responsibility is to ensure that Akpajo clan remains peaceful.
He also assured the government of support and praised both past and current administrations in the State for siting projects in the community.
Also speaking , the traditional staff bearer of the clan, Chief Joseph Goka said Emere Obo’s installation was in line with the customs and traditions of Akpajo Kingdom.
He also told newsmen that the king makers have not received any protest from any quarters concerning the installation since the process started months ago.
Chief Goka equally said his crowning of the monarch was based on instructions from the clan’s land priests and expressed optimism that Emere Obo is capable of representing the clan Traditionally and other wise.
Chief Goka described Emere Obo as trustworthy and law-abiding, adding that having worked with the late traditional ruler, Emere Obo has a full knowledge of the customs and traditions of not only Akpajo clan but the entire Eleme Kingdom.
He assured the new monarch of the support of the people of Akpajo and the entire traditional institution in the area.
Also speaking, one of the community’s land priests, Levy Kattey Jumaa said the installation of the new Akpajo monarch was in line with the customs and traditions of Akpajo and Eleme kingdom.
According to him, the new King has all the qualities expected from a chief in Eleme land, stressing that Emere Obo was only ascending the throne of his fathers having come from the royal family of Akpajo Kingdom.
He urged the public to disregard any insinuations concerning the installation, ”if at all there is any,” adding that it is only the land priests families that talk about kingship installations in Akpajo and Eleme and no other persons outside the land priests families can do that.
By: John Bibor
News
Awo Idemili Community May Become Ghost Town If
If urgent steps are not taken by concerned authorities, the Awo Idemili community in Orsu Local Government Area of Imo State may become a ghost town, due to incessant killings, arson and kidnapping of residents by some alleged criminal elements suspected to be members of the Indigenous People of Biafra ( IPOB).
The Tide’s sourc learnt that a certain family, the Emenikes, said the only possible solution to save the lives of the family members and that of others was to seek protection in a foreign land.
According to sources, one of the family members, Mr Peter Emenike was adbucted and murdered in a gruesome manner by people believed to be members of the IPOB recently.
It was further learnt that Peter Emenike, now deceased, was the Personal Assistant to the Imo State Commissioner for Chieftaincy and Traditional Matters and was never a member of any secret organisation as to warrant the fate that befell him.
His only offence as further gathered, was an alleged intelligence leaked to the Imo Government which the IPOB framed up in order to get him and his family members nailed.
It also learnt on a good authority that Peter Emenike’s lifeless body alongside that of his wife was found at their residence in Awo – Idemili, Imo State on 14th November, 2024 .
It was also reported that few days later, some family members of the Emenike family were declared missing and as one of them was found dead by a bush path, while others were still held hostage as at when this report was filed.
The Tide’s source claimed that a letter purportedly written by the IPOB members was delivered and dropped inside the car of the deceased bearing the insignia of the IPOB with the inscription: ‘None of your family members can hide for long’.
Unconfirmed report has it that the family, out of fear could not immediately report the matter to the Imo State Police Command as the group is believed to possess some spiritual powers to identify their perceived enemies from afar.
The family members of the deceased including oneMr Daniel Emenike, Boniface Emenike , Paul Emenike and others are now under serious threat by the separatist group (IPOB), thus the urgent need for protection especially in a foreign land.
A security analyst who pleaded anolmity, warned that the assassination of Peter Emenike and the serial killings and abduction of his family members stood as a signal to a new phase of IPOB’s operations .
“ This is not an attack on one family , but on the nation and our collective safety . The government must act swiftly not just to rescue the family but to reaffirm their stance on zero tolerance to terrorism “ he said .
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