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FG No Longer Fixing Petrol Price …Admits Govt Unable To Pay Subsidy -Sylva
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has reiterated that the Federal Government is no longer fixing the pump price of petroleum products in the country.
Sylva made this known while briefing newsmen, yesterday, on the increase in the pump price of Premium Motor Spirit (PMS), also known as petrol.
It would be recalled that the Petroleum Products Marketing Company (PPMC) had, last Wednesday, announced a new Ex-depot price of N151.56 for petrol.
Ex-depot price is the price marketers buy products from depot owners.
An increase or decrease in ex-depot price has an effect on the pump price of petrol.
“Government is no longer in the business of fixing prices for petroleum products, we have stepped back.
“Our focus now is on protecting the interest of the consumers and making sure that marketers are not profiteering,” he said.
Sylva said it was unfortunate that people were blaming the government, noting that the deregulation of the sector was imperative for the economy.
He said that it was also a consensus among stakeholders for such a strong policy direction.
According to him, the well-being of Nigeria remains paramount to the government.
“You all know that President Muhammadu Buhari aligns with ordinary Nigerians, especially the poor.
“Left for him, he will never allow an increase in pump price; for this to happen, it means that it is an inevitable decision.
“Covid-19 took the price of crude oil to zero zone,” the minister said.
The minister also disclosed that the Federal Government was not currently capable, financially, to pay the subsidy.
Sylva said that since the introduction of the deregulation policy, the country has saved about N1trillion.
Meanwhile, the Federal Government has said that the Petroleum Equalisation Fund (PEF) and Petroleum Products Pricing Regulatory Agency (PPPRA) would be merged.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, said this while briefing newsmen, yesterday.
He noted that the oil sector regulatory agencies will become one as contained in the new Petroleum Industry Bill (PIB).
“PEF and PPPRA will emerge as one under the name ‘The Authority’ and will be helping to police the pump price of petrol so that nobody will profiteer,” he said.
PEF deals with the equalisation of petroleum products to ensure price uniformity, while PPPRA focuses on petroleum products pricing and monitoring of compliance.
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Rivers Capable Of Delivering Massive Votes For Tinubu, Chinda, Others -Fubara …Charges APC, Rainbow Coalition To Embrace Team Work
Fubara, who stated this yesterday at the inauguration of the APC Presidential Campaign Council in Port Harcourt, said the surest path to victory is for the members of the Presidential Campaign Council drawn from the APC and the Rainbow Coalition to embrace the spirit of teamwork.
He said what the state was witnessing in the current political season is a repeat of the successful mobilization done in 2022 and 2023, when a large campaign council worked in unity to deliver victory for him and for President Tinubu.
He added that the present council is bigger, wider and better coordinated and should therefore achieve even better results.
He noted that the beauty of the new council is the fact that some persons who were in the opposition camp during the previous elections are now part of the team, saying their inclusion has made the task easier, provided everyone works as one team and with sincerity of purpose.
The governor thanked the Coordinator of the Presidential Campaign Council for Rivers State, Chief Nyesom Wike, and other leaders who worked tirelessly to bring the council to fruition, stressing that nothing is impossible especially when people work together for a common purpose.
He expressed optimism that with seriousness and commitment, the state would record a higher number of votes than it recorded in 2023.
Fubara, while congratulating members who made the list, appealed to those whose names were omitted not to be discouraged, as there are still sub-committees to be constituted and the list can still be updated, even as he warned against double loyalty.
He said the state has gone past the stage of division and is now looking to the future and what God holds for Rivers people, expressing confidence that with the strategy already put in place, the APC and the Rainbow Coalition would come out victorious in 2027.
Minister of the Federal Capital Territory and Coordinator of the Campaign Council, Chief Nyesom Wike, while inaugurating the Council, lauded Fubara for finding time to attend the ceremony and other engagements of the Council in spite of his busy schedules.
Wike, who is also the National Leader of the PDP/ Rainbow Coalition, reminded members of the Council that they were chosen based on their capacity to participate in the activities of the group and deliver positive results.
He charged them to work hard to win votes for the candidates of the APC and the Rainbow Coalition for the Presidential, Governorship, National Assembly as well as State House of Assembly elections next year.
He disclosed that apart from the Presidential Campaign Council and its sub-committees, the Local Government Campaign Councils will soon be inaugurated to ensure better coverage of the grassroots during the current campaign season.
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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
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APC Presidential Campaign Storms PH, ‘Morrow
This is according to a campaign timetable released by the APC Campaign Council last month.
The Tide reports that the APC presidential campaign kicked off in Kaduna on October 24 with President Bola Tinubu in attendance.
The campaign train later moved to Cross River, Gombe, Nasarawa, and Ekiti on November 2, 3, 4 and 5 respectively with the Vice President, Kashim Shettima representing the President at the rallies.
President Tinubu is personally scheduled to attend 12 states including Rivers, Kaduna, Plateau, Oyo, Borno, Enugu, Bauchi, Sokoto, Delta, Kano, Adamawa and Lagos.
The Rivers State rally, scheduled to hold at the Adokiye Amiesimaka Stadium, Port Harcourt, is expected to witness a large crowd of party supporters drawn from a coalition of political parties in the State.
The party is expected to round off its presidential campaign in Lagos State on January 9, 2027.
The Tide reports that Tinubu has not visited Rivers State as President since he assumed office in May 2023. His last physical visit to the State was before his inauguration on Wednesday, May 3 – Thursday, May 4, 2023, when he was hosted by then Governor Nyesom Wike in Port Harcourt to commission the Rumuola/Rumuokwuta Flyover and the Magistrates’ Court Complex.
Tomorrow’s visit will be his first to the State since assuming office.
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