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No More Petrol Subsidy, Says NNPC Govs Back FG’s Action

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Leveraging on the low price of crude oil and petroleum products, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr Mele Kyari, yesterday, announced that the era of subsidizing the pump price of petrol was over.
He made the disclosure on the official Twitter handle of the NNPC after he appeared in a television interview.
Kyari said: “As at today, subsidy/under-recovery is zero. Going forward, there’ll be no resort to either subsidy or under-recovery of any nature. NNPC will just be another player in the market space. But we’ll be there for the country to sustain security of supply, at the cost of the market”.
As crude oil price slumped in the international market due to the rampaging COVID-19 pandemic, the Federal Government responded by reducing the pump price of petrol from N145/litre to N125/litre in March.
It further reduced the price to N123.50/litre on April 1, after monitoring developments in the international oil market.
On the possibility of suffering another round of petrol scarcity, he said; “Today, we have a very robust products supply and distribution mechanism; from the loading depots up to fuel stations nationwide.
“We also have very good understanding with our strategic partners: the governors, marketers, depot owners, PTD, etc. There are no issues whatsoever.”
On the current developments in the international market, the NNPC GMD said: “The key issue in crude oil business is market fundamentals of demand/supply. I believe COVID-19 will subside and countries will come back to life. I don’t see oil price going below the $20 we saw last week. I’m certain, all things being equal, oil price will bounce back”.
He pointed out that the desire of the national oil company was to grow Nigeria’s production to 3 million barrels per day.
“As at yesterday, our production has, for the first time in many years, risen to 2.3mbpd. We believe this will grow and the contribution of local companies in this regard will be meaningful.”
On gas, the NNPC boss said there were ongoing plans to aggressively expand the domestic gas footprint with the delivery of the Escravos-Lagos Pipeline System (ELPS) II to double capacity from 1.1billion standard cubic feet of gas (BSCF) to 2.2BSCF and the OB3 gas pipeline to connect East and the West.
The NNPC, he revealed, would commence the construction of the Ajaokuta-Kaduna-Kano gas pipeline in the second quarter of 2020 to serve as an enabler to further boost the economic activities of the country.
Reacting to the news, governors of the 36 states in Nigeria have backed the Federal Government’s implementation of the petrol price modulation mechanism to eliminate petrol subsidy “permanently” in the country.
This decision was contained in a communique released in the early hours of yesterday by members of the Nigeria Governors’ Forum (NGF) after a meeting last Sunday to deliberate on the COVID-19 pandemic in the country.
The communiqe, signed by Governor Kayode Fayemi of Ekiti State, who is also the NGF chairman, also supported the unification of exchange rates into a single, market-determined window and the use of the market-determined exchange rate to calculate all revenues due to the federation.
The implementation of the new petrol price modulation mechanism means Nigerians will pay for petrol in line with the product’s prevailing price in the global market.
The Federal Government had announced a further reduction in petrol’s pump price to N123.50 per litre on April 1, 2020.
That was the second time it would be reducing the pump price of petrol in two weeks.
It had announced a reduction in the pump price on 18th March, 2020 from N145 to N125 following the fall in the price of crude oil in the international market.
At that time, the price of Nigeria’s Brent Crude was below $25 but it is now up to 33.24 as at today.
A statement by the Petroleum Products Pricing Regulatory Agency (PPPRA)’s Executive Secretary, Abdulkadir Saidu in Abuja had said: “PPPRA, in line with the government approval for a monthly review of Premium Motor Spirit (PMS) pump price, hereby announces Guiding PMS pump price of N123.50 per Litre.
“The Guiding price which becomes effective 1st April, 2020, shall apply at all retail outlets nationwide for the month of April, 2020.
“PPPRA and other relevant regulatory Agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector. Members of the Public and all Oil Marketing Companies are to be guided accordingly.”
Fayemi also briefed State governors on ongoing coordination with the World Bank to mobilise support for states to mitigate the economic and social cost of the COVID-19 pandemic.
He said the ongoing plans include accelerated disbursement of existing and new financing for states under the State Fiscal, Transparency, Accountability and Sustainability (SFTAS) Programme-for-Results, and mitigation and recovery support for expenditures to protect livelihoods, support local economic activity and recovery over the next 18 months to two years.
The forum thanked the Private Sector Coalition Against COVID-19 (CACOVID), set up by the Central Bank of Nigeria (CBN), for their pledge to support states increase their capacity to mitigate the spread of the virus and care for confirmed cases through the construction of isolation centres and the distribution of personal protective equipment to states.
Members underscored the need for CACOVID to work directly with the States in the distribution of palliatives.
The forum lauded the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, and his team for the commitment in leading a national response to the COVID-19 pandemic after a briefing from him on the activities of the Presidential Task Force on COVID-19 which he chairs.
Members also stressed the need for stronger collaboration with states because they are best positioned to administer palliatives to mitigate the impact of the crisis, including the distribution of food and essential materials to households to help them cope with the expected loss of income and livelihoods.
The governors renewed the importance of cancelling all deductions and deferring or restructuring all commercial debt service payments on federal government and CBN-owned debts.

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We’ll Implement Judicial Commission’s Report On Arson, Killings -Fubara …Says Such Violence Must Stop In Rivers

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Rivers State Governor, Sir Siminalayi Fubara, has assured of implementing the recommendations of the report submitted to him by the Judicial Commission of Inquiry into the Arson, Killings, and Wanton Destruction of Property at some local government council headquarters on or around Monday, October 7, 2024.
Governor Fubara gave the assurance when the seven-member commission, led by the Chairman, Justice Ibiwengi Roseline Minakiri, submitted four volumes of reports of their investigation and recommendations to him at Government House in Port Harcourt, yesterday.
The Governor declared that his administration will neither tolerate nor allow such level of violence in the State anymore because it is not profitable or productive.
He said, “We are not going to be part of any system that would encourage any destruction in this State. And for that reason, we had to inaugurate this commission, so that this commission should look into the remote and immediate causes of this problem.
“And I believe that the recommendations of this commission, with the help of God and the support of everyone, we will make sure that we implement the recommendations.”
Governor Fubara said: “We are going to take it to the next stage. The report will be presented to the Executive Council, and there, we will surely come out with the White Paper and with the White Paper. I can assure you, we are going to follow it to the end.
“Nobody is above the law, including me. So, provided what we are doing is within the confines of the law, we will do it with the help of every one.”
Governor Fubara recalled how, before 2014, a group of persons had ran wide recklessly in the State, burning down court buildings.
He noted that it is such persons, who had recently surfaced with their destructive tendencies, and have extended the violence to local government councils, killing people and destroying government property.
Governor Fubara wondered why somebody will spend so much money to build a structure intended to last as legacy of the administration but would eventually be part of its destruction in the name of politics.
Governor Fubara clarified that he has never been part of such destructive politics that continue to set the State backwards and frustrate progressive development strides.
Governor Fubara said: “I make bold to say it, I have never been and will never be a party to anything that will bring shame, disgrace, destruction to our dear State.
“It is our State. If it is well with us, it will be well with everybody. As a matter of fact, why should I encourage destruction, when I know that when you finish spoiling things, you still need money to rebuild them.
“I am an accountant, I know the importance of how we can manage money. Rather than spoil, you should use that money to do a new thing for the State.”
Governor Fubara vowed: “So, I am going to ensure that we put a stop to that level of violence or such unreasonable violence. I call it unreasonable violence because it doesn’t mean anything in politics.
“Politics is a business of interest. There is no permanent friend, no permanent enemy. Some persons who were not even in our support, today, they are here following us because their interest is the most important thing.
“Likewise tomorrow, if the interest changes, they will also go their different ways. So, why burn down the house?”
Governor Fubara thanked members of the commission for being bold, focused, and accomplishing their task with determination in the face of physical and legal threats.
In her presentation, Chairman of the seven-member Judicial Commission of Inquiry, Justice Ibiwengi Roseline Minakiri, said they had put their findings into four volumes, including the recommendations.
Justice Minakiri explained: “We have here four volumes of the report. We have the memoranda, which is the memoranda we got after we made our publications.
“We also have the exhibits that came with the memoranda. We have the proceedings and the records. At the end of the day, we came up with the main report.”
Justice Minakiri advised that the recommendations of the report should be studied and implemented so that people can be deterred from such callous acts and the sought-after peace secured for the State.

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We Are Eager To Showcase The Best Of Rivers State -Fubara …Declares Federation Of Public Service Games Open

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The Rivers State Government says it is committed to providing a memorable experience for all delegates participating in the Federation of Public Service Games(FEPSGA) hosted by the State Government.
Governor Siminalayi Fubara stated this during the opening Ceremony of the 43rd Edition, Public Service Games, titled ”Simplified Rivers 2024″, at Sharks Stadium, Port Harcourt, last Sunday.
Speaking through his Deputy, Prof. Ngozi Nma Odu, Governor Fubara said “Our hospitality is renowned and we are eager to showcase the best of Rivers State. From top-notch facilities to a secure environment, we have everything in place to ensure a seamless and enjoyable experience for all participants.”
Governor Fubara said to ensure the success of the games his Administration has put in place comprehensive plans and preparations with four venues approved for the events which include the Sharks Stadium, Alfred Diette -Spiff Civic Centre, Port Harcourt Club and the University of Port Harcourt.
The State Chief Executive urged participants to remember that the true spirit of FEPSGA goes beyond winning medals, stressing that it is about building bridges of friendship, fostering a sense of community and celebrating our diversity.
According to him, we envision a public service that is more productive, more efficient and more effective, a future where public servants are empowered to deliver exceptional results driven by a culture of excellence, innovation and teamwork.
The Governor reiterated that while a healthy mind and body are essential for high productivity, regular physical activity boosts our mood, increases energy levels and enhances our cognitive function. We are eager to showcase the best of Rivers State. From top-notch facilities to a secure environment.
In her address Head of the Civil Service of the Federation Mrs Didi Esther Walson-Jack, who spoke through Dr.(Mrs) Magdalene Ajani, Permanent Secretary in the Federal Ministry of Interior Commended Governor Fubara for hosting this year’s event, and for his dedication to promoting sports and fostering unity in the country.
She noted that the event which serves as a platform for furthering unity, camaraderie and sportsmanship amongst public servants, was a celebration of their shared commitment to excellence, resilience and service to the nation.
Also speaking the National President of the Federation of Public Service Games (FEPSGA), Comrade Amaebi Aloku, said Rivers State got the nod to host the annual event because the Federation was pleased with the vision of Governor Fubara in identifying with the needs of the Civil Servants in the State, in terms of their welfare and being one of the first State to implement the new minimum wage and even taking it above what was approved by the national.
Earlier the Head of Service Rivers State, Dr George Nwaeke had welcomed all participants to the State and expressed gratitude to the Governor for approving and making available the resources to host the games, noting that it was an opportunity to interact with all Civil Servants across the nation.

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Arson: Those Behind It’ll Account For Atrocities -Fubara …Swears In Bipi, Three Others As Commissioners

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Rivers State Governor, Sir Siminalayi Fubara, has said that his administration will not fold its hands and watch sponsored political thugs run berserk, committing arson in the State.
The Governor, therefore, assured that, working with the Nigerian Police Force and the Directorate of State Services (DSS), measures will be taken to unravel those behind the recent burning of council Secretariats at Ikwerre, Emohua and Eleme Local Government areas, with a view to making them account for their atrocities.
Governor Fubara gave the assurance while swearing in four new commissioners into the Rivers State Executive Council at Government House in Port Harcourt yestersday.
Those sworn in are Hon. Israel Lebura Ngbuelu, PhD; Hon. Evans Bapakaye Bipi; Barrister Otamiri John Ngubo; and Hon. Barrister Benibo Anabraba.
Governor Fubara recalled mentioning when he sworn-in newly elected Local Government Councils’ Chairmen on 6th October, 2024, that there was intelligence on planned mayhem by misguided persons, who had threatened to prevent the elected officers from resuming duties.
True to it, Governor Fubara said, the sponsored political thugs hatched their plans, and burnt valued buildings at some council secretariats.
He said, “I said it before it happened. I knew because they were unhappy, they would go extra miles to create disaffection in the minds and hearts of the good people of Rivers State.
“We want to also let the people know that what has happened (arson) after the election, we are not going to allow it to go uninvestigated.
“A similar event had happened in this manner before, and after some weeks, some of our supporters were declared wanted in order to turn the story around.
“But this time around, I strongly believe, with the support and cooperation of the Nigerian Police and the Directorate of State Services (DSS), we will unravel those behind the assault and make sure that they account for their atrocities.”
Governor Fubara expressed appreciation for the show of patience and calmness by majority of Rivers people despite the fact that they are angry with the reckless acts of the misguided miscreants.
The Governor said he has continued to show leadership, provided the climate that has engendered productive endeavours, and will not mislead those he is leading.
“As your leader; the one steering the ship, I assure you I will not mislead anyone of you. I still stand on the path of peace. We have cases of arson in some local government areas.
“But, I appreciate your calmness. I have always maintained that we are going to be the greatest losers, if we meet them force-for-force. We need to go with peace.
“So, I will encourage everyone of you not to follow them with violence. We are carrying a basket of precious eggs in our hands. So, we need to follow them with carefulness and wisdom.”
Governor Fubara reiterated what he said the previous day on what should matter most for Rivers State, which is a firm support to ensure that the progress of Nigeria is sustained.
He said, if oil theft is not checked, the country’s economy will be badly impacted, and there will not be funds to address critical issues.
“We are in a situation where the fund that is being generated from oil production is not sufficient to tackle the challenges of Nigeria, and every hand has to be on deck to make sure that there is increase in production.
“Our focus here, not minding the distractions, will be how to provide support. You have to work with us to make sure that we curb this issue of oil theft and pipeline vandalisation.
“This is the only way that the allowances (revenue) will increase and more will also come to our State, and more progress will also be achieved in this State.”
Governor Fubara explained that his administration is doing a lot for the good people of the State, that are not being seen because of the political drama that takes their attention away.
He, however, said that his administration is working out modalities, and will soon choose a day, which could probably be before the end of October, 2024, to showcase a few projects and services that have positively impacted lives in the State.
Governor Fubara congratulated the newly sworn-in commissioners for making it into the Rivers State Executive Council.
He explained that more persons whose loyalty are for Rivers people and the administration needed to be admitted into the Rivers State Executive Council to help drive the policy of government because they will not resign their appointment.
Governor Fubara said: “We want to be sure, at this point, who we are adding into the Council, so that we will not wake up one morning and see resignation letter. So, we are taking our time.
“And usually, after a normal political period, there used to be what we call balancing. So, I can also say that the new Commissioners that are coming in are coming from their zones to also balance the political equation.”
Governor Fubara charged them to be dedicated, forthright, diligent and productive while rendering quality services to the State.
The Governor said he believed in their capacity to deliver because of their exposure to the workings of government, and expressed the hope that they will contribute positively to the success of the administration.
He said, “So, let me thank everyone of you. Let me also use this opportunity to thank the good people of Rivers State for their support, and to assure them that we will continue to defend, protect the interest of Rivers people.
“I want to thank everyone of you for your support, more especially before, during and after the elections. I appreciate your doggedness, your belief in our course to salvage this State, to protect the integrity of this State,” he added.

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