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.
Featured
RSG Floats MNET Culture Content Promo
The Rivers State Ministry of Culture and Tourism has floated a culture content platform in collaboration with digital television group, Multichoice.
Permanent Secretary, Ministry of Culture and Tourism, Mr. Freddy Ndigbara, disclosed this after a meeting with MultiChoice Head of Content Acquisition, Don Dotun Ojon, in Port Harcourt.
He assured that content entrepreneurs and film makers would enjoy the platform by promoting culture and other contents to sell the states tourism potentials.
He said MultiChoice M-net was now open to increase its patronage for content shots on locations in Rivers State, describing the State as one that has numerous potentials for film tourism.
“We were privileged to have Don Ojon with us at the Rivers International Film Festival (RIFF) at the weekend in Bonny and he saw, first hand, the numerous sites and opportunities that are open to creatives in the State. After that, we felt it was important to deepen the conversation and he obliged. This is a cheering news for the sector in the State,” he said.
Ndigbara stated that “Rivers State has many more untold stories to tell, many more contents to reel out and the assurances from the M-net Acquisition Manager is an indication that the industry in the state will soon enjoy a new lease of life”.
The Permanent Secretary thanked Ojon for the visit and assured that creatives in the State would grap this opportunity and show the world that Rivers State is a major hub for film tourism in Nigeria.
On his part, Ojon said the visit was to discuss on ways of promoting tourism in the State using creatives and film.
Ojon said although the company has recently been acquired by canal+ France and is undergoing restructuring, he would promote the chances of Rivers State to host the MultiChoice talent factory in the State.
With Asaba, capital of Delta State, being saturated, Ojon said the next port is Rivers State, which he said is capable of building fresh crop of creatives, new locations, new story lines and concepts.
He, therefore, called for collaboration from stakeholders in the State.
Kevin Nengia
News
ODU EXTOLS VIRTUES OF EZEOBI OF EGBEMA KINGDOM
Rivers State Deputy Governor, Prof. Ngozi Nma Odu, has described the late traditional ruler of Egbema Kingdom, His Royal Majesty, Eze Ginikanwa Everestus Amuda, Ezeobi of Egbema, as a great leader whose reign was characterised by peace, unity, inclusiveness and commitment to the welfare of his people.
Prof. Odu stated this during the funeral ceremony of the late monarch at Aggah, in Ogba/Egbema/Ndoni Local Government Area of Rivers State, yesterday.
The Deputy Governor, who expressed pride in identifying with the Egbema people, said she considered it a priority to attend the funeral and personally commiserate with the bereaved family, the people of Egbema and the entire Ogba/Egbema/Ndoni Local Government Area.
She described the late monarch as a respected traditional ruler who distinguished himself through exemplary leadership and earned recognition beyond his immediate community.
According to her, Eze Amuda was a father figure to all, who carried everyone along during his reign and consistently promoted peace, unity and empowerment among his people.
Prof. Odu said Rivers State had lost one of its illustrious sons, adding that his contributions to the development of Egbema Kingdom and commitment to the welfare of his subjects would remain worthy of remembrance.
She extended her condolences to the immediate and extended families of the deceased, the Egbema people and the entire Ogba/Egbema/ Ndoni Local Government Area, praying that God would grant them the strength and comfort to bear the loss.
The Deputy Governor expressed the hope that the late monarch’s legacy of peace and empowerment would be sustained, noting that his transition should inspire renewed efforts towards the progress and development of Egbema Kingdom.
She also appealed to prominent sons and daughters of Egbema in Government and other positions of influence to establish a lasting memorial in honour of the late traditional ruler, in recognition of his place in the history of the kingdom as one of its foremost first-class traditional rulers.
Prof. Odu thanked the church, women, men, youths and other sympathisers who came from far and near to honour the departed monarch and identify with the bereaved family.
She prayed for God’s comfort and strength for the family and the entire community, as well as journey mercies for all who attended the funeral.
In his tribute, Engr. Iboh Justice, a mentee of the deceased, described the late monarch as a father figure, mentor and exceptional personality whose life was defined by hard work, determination and commitment to excellence.
He said he was deeply saddened by the loss, noting that Eze Ginikanwa Amuda was not only a father to many but also a personal mentor who played a significant role in shaping his life.
He disclosed that the late monarch’s mentorship had inspired him to extend the same gesture to the deceased’s son, Dr. Ogorchukwu Amuda, whom he is currently mentoring.
Describing the late traditional ruler as a man who never settled for less, Engr. Iboh Justice said his life exemplified the principle that success could only be achieved through hard work and perseverance.
News
IGP Orders Arrest, Prosecution Of Campaign Billboard Vandals
The Inspector-General of Police, Olatunji Disu, has directed Commissioners of Police in the 36 states and the Federal Capital Territory (FCT) to arrest and prosecute persons involved in the destruction, defacement and unlawful removal of political campaign posters, banners and billboards ahead of the 2027 general elections.
The Force Public Relations Officer, CSP Aniete Iniede, disclosed this in a statement issued in Abuja, on Wednesday.
The statement noted that the Nigeria Police Force had observed with serious concern the increasing incidents of deliberate destruction of campaign materials belonging to political parties and candidates across the country.
The Police in the statement condemned acts of political intolerance and warned political thugs, hoodlums and other mischief-makers involved in the destruction of campaign materials to desist from such activities or face the consequences.
It further explained that the destruction, defacement or unlawful removal of another candidate’s campaign materials could constitute malicious damage, which is a criminal offence under applicable laws, including Section 451 of the Criminal Code Act and Section 326 of the Penal Code Law.
The Police in the same vein, stressed that political differences or loyalty to a particular party did not confer on anyone the right to destroy another candidate’s property or prevent others from exercising their constitutionally guaranteed right to campaign freely.
According to the statement, all political parties and candidates, irrespective of their affiliations or status, were entitled to equal protection under the law, adding that no individual or group had the authority to determine whose campaign materials should be displayed or destroyed.
“The IGP had directed Commissioners of Police in the states and the FCT to take proactive measures to prevent such incidents, investigate reported cases and ensure the arrest and prosecution of persons found culpable”, it said.
It also warned that political sponsors and individuals who recruit, encourage or facilitate the criminal acts would be held accountable whenever evidence established their involvement.
The police urged political parties, candidates and their supporters to conduct their campaigns peacefully and respect the rights of others, warning that political intolerance, intimidation and criminal conduct must not be allowed to undermine the nation’s democratic process.
The statement noted that the Force would not allow political thugs and troublemakers to turn the nation’s political environment into a theatre of lawlessness, insisting that anyone found violating the law would face its full consequences.
However, the Police Force called on Nigerians to respect the law and uphold the principles of peaceful political participation, particularly as political activities gather momentum ahead of the 2027 general elections.
The police reiterated that the right to campaign and promote political interests must be exercised within the confines of the law, while urging political stakeholders to discourage violence and other acts capable of threatening public peace.
The Force assured Nigerians of its commitment to maintaining law and order throughout the political season, stressing that the protection of all candidates and political parties remained a priority as the country prepares for the 2027 general elections.
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