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FG Slashes Fuel Price To N162.44 Per Litre

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A reduction in the pump price of premium motor spirit, otherwise known as petrol, has been announced by the Federal Government, from N168 to N162.44 per litre with effect from December 14.
The Minister of Labour and Employment, Dr Chris Ngige, disclosed this at the end of a meeting with labour leaders which began around 9pm on Monday, and ended at 1:30am, yesterday.
The product presently sells at N168, following the decision of the Petroleum Products Marketing Company (PPMC) to increase the ex-depot price of petrol from N147.67 per litre to N155.17 per litre in November.
The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots.
The minister said a technical committee has been set up to ensure price stability in the industry.
Ngige stated that the committee, which would report back to the larger house on January 25, would appraise the market forces and other things that would ensure stability in the industry.
He said, “Our discussion was fruitful and the Nigerian National Petroleum Corporation (NNPC) which is the major importer and marketers of petroleum products and customers have agreed that there will be a slide down of the pump price of PMS and that the price cut will get us about N5 per litre and that the price cut will take effect from next Monday, a week today.”
Ngige explained that the price reduction was not meant to suspend deregulation because it did not affect the price of crude oil but on areas where the NNPC as the main importer had agreed that it could cut costs like freight and demurrage costs.
He said the new price slash was a product of a joint committee of NNPC and labour representatives, which looked into ways of cutting costs.
Ngige said, “They have come down. There is a price now. They are now touring the DISCOS. They are going all over the country. They have been to Lagos. They have been in Ibadan. They are supposed to be in Kano now, but two members of the committee had taken ill and so, they could not continue.”
He, however, assured that the electricity committee would continue after yuletide and report back again on January 25, 2021.
Also speaking on the issue of palliatives, the minister said, “The palliatives have been rolled out and all hands are on deck to see that the workers start getting the effects as quickly as possible.”
He announced plans by the Federal Government to engage many urban workers and give them stipends every month for the next twelve months as part of the conditional cash transfer.
On the aspect of electricity tariff, both sides agreed to wait till the next meeting date on January 25 to enable the special committee dealing with complaints to conclude their deliberations.
Earlier in his remark, the Secretary to the Government of the Federation, Boss Mustapha, lauded the leadership of the organised labour for exhibiting spirit of collective bargaining and negotiation in spite of the demands of their office to cater for the welfare and good of their members.
He said that the overall interest of the nation has not been sacrificed in the negotiations undertaken in the last few months they had to deal with this issue.
Mustapha further said the peaceful resolution of the matter showed that the interest of the nation was fundamental and uppermost in their minds in finding a password to the issues that affect their people.
He also said that the primary responsibility of everyone in the negotiating table was to provide for the well being and good of the Nigerian people.
He commended the steadfastness of leaders of the organised labour to the negotiation, which he described as the hallmark of leadership and commitment to the good of the nation.
The President of the Nigeria Labour Congress (NLC), Comrade Ayuba Wabba, corroborated the position of the minister, saying that the agreement was reached by both sides.
Other members of the Federal Government delegation were the Minister of State, Labour and Employment, Festus Keyamo (SAN); his Petroleum counterpart, Timipre Sylva; the Group Managing Director (GMD), NNPC, Mele Kyari; and the Managing Director of Rural Electrification Agency (REA), Ahmad Salihijo.
President of NLC, Ayuba Wabba and his Trade Union Congress (TUC) counterpart, Quadri Olaleye led the organised labour to the meeting.

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1.4m UTME Candidates Scored Below 200  -JAMB 

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The Joint Admissions and Matriculation Board (JAMB) on Monday, released the results of the 2024 Unified Tertiary Matriculation Examination, showing that 1,402,490 candidates out of  1,842,464 failed to score 200 out of 400 marks.

The number of candidates who failed to score half of the possible marks represents 78 per cent of the candidates whose results were released by JAMB.

Giving a breakdown of the results of the 1,842,464 candidates released, the board’s Registrar, Prof. Ishaq Oloyede, noted that, “8,401 candidates scored 300 and above; 77,070 scored 250 and above; 439,974 scored 200 and above while 1,402,490 scored below 200.”

On naming the top scorers for the 2024 UTME, Oloyede said, “It is common knowledge that the Board has, at various times restated its unwillingness to publish the names of its best-performing candidates, as it considers its UTME as only a ranking examination on account of the other parameters that would constitute what would later be considered the minimum admissible score for candidates seeking admission to tertiary institutions.

“Similarly, because of the different variables adopted by respective institutions, it might be downright impossible to arrive at a single or all-encompassing set of parameters for generating a list of candidates with the highest admissible score as gaining admission remains the ultimate goal. Hence, it might be unrealistic or presumptive to say a particular candidate is the highest scorer given the fact that such a candidate may, in the final analysis, not even be admitted.

“However, owing to public demand and to avoid a repeat of the Mmesoma saga as well as provide a guide for those, who may want to award prizes to this set of high-performing candidates, the Board appeals to all concerned to always verify claims by candidates before offering such awards.”

Oloyede also noted that the results of 64,624 out of the 1,904,189, who sat the examination, were withheld by the board and would be subject to investigation.

He noted that though a total of 1,989,668 registered, a total of 80,810 candidates were absent.

“For the 2024 UTME, 1,989,668 candidates registered including those who registered at foreign centres. The Direct Entry registration is still ongoing.

“Out of a total of 1,989,668 registered candidates, 80,810 were absent. A total of 1,904,189 sat the UTME within the six days of the examination.

“The Board is today releasing the results of 1,842,464 candidates. 64,624 results are under investigation for verification, procedural investigation of candidates, Centre-based investigation and alleged examination misconduct”, he said.

Oloyede also said the Board, at the moment, conducts examination in nine foreign centres namely: Abidjan, Ivory Coast; Addis Ababa, Ethiopia; Buea, Cameroon; Cotonou, Republic of Benin; London, United Kingdom; Jeddah, Saudi Arabia; and Johannesburg, South Africa.

“The essence of this foreign component of the examination is to market our institutions to the outside world as well as ensuring that our universities reflect the universality of academic traditions, among others. The Board is, currently, fine-tuning arrangements for the conduct of the 2024 UTME in these foreign centres,” he explained.

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Ex-CBN Director Admits Collecting $600,000 Bribe For Emefiele 

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A former Director of Information Technology with the Central Bank of Nigeria, John Ayoh, has alleged that he collected on behalf of the former governor of the apex bank, Godwin Emefiele, a sum of $600,000 in two installments from contractors.

Ayoh, the second witness of the Economic and Financial Crimes Commission (EFCC), disclosed this on Monday while recounting instances where he facilitated the delivery of money to Emefiele, claiming it was for contract awards.

Under cross-examination at the Ikeja Special Offences Court in Lagos by the defence counsel, Olalekan Ojo (SAN), Ayoh admitted to facilitating the alleged bribery under pressure.

The embattled former governor of the apex bank is having many running legal battles both in Abuja and Lagos and is being tried by the EFCC at the Special Offences Court over alleged abuse of office and accepting gratification to the tune of $4.5 billion and N2.8bn.

He was arraigned on April 8, 2024, alongside his co-defendant, Henry Isioma-Omoile, on 26 counts bordering on abuse of office, accepting gratifications, corrupt demand, receiving property, and fraudulently obtaining and conferring corrupt advantage.

Emefiele’s defence, however, challenged the court’s jurisdiction over constitutional matters, urging the quashing of counts one to four and counts eight to 24 against him.

Ayoh, who was led in evidence by the EFCC prosecution counsel, Rotimi Oyedepo (SAN), said the first money he collected on Emefiele’s behalf was $400,000 which his assistant, John Adetola, came to collect at his house in Lekki, Lagos State.

He further told the court that the second bribe of $200,000 was collected at the headquarters of CBN, at the Island office.

He said the money was brought in an envelope, adding that when the delivery person, Victor, was on the bank’s premises, he contacted Emefiele, who insisted on receiving the package directly from Ayoh without involving third parties.

He said when he went to deliver the package, he saw many bank CEOs waiting to see the former apex bank governor.

When questioned if he had ever been involved in any criminal activity, he responded in the negative but admitted that he had facilitated the commission of crime unknowingly.

“I believe I did admit in my statement that I was forced to commit the crime. I don’t know the exact word I used in my statement, but I said we were all forced with tremendous pressure to bend the rules,” he said.

When asked if he opened the envelopes he collected on the two occasions and counted the money to confirm the amount, he was negative in his reply, adding that he did also write in his statement that the money was given to influence the award of contracts.

On whether the EFCC arrested him, the witness said he was invited on February 20, 2024, and returned home after he was granted bail.

Earlier, Emefiele asked the court to quash counts one to four and counts eight to 24 against him, as the court lacks the jurisdiction to try him.

Speaking through his counsel, Ojo, he said counts one to four were constitutional matters, which the court lacked the jurisdiction to determine.

In his argument, citing Sections 374  of the Administration of Criminal Justice Act and 386(2), the defence counsel told Justice Rahman Oshodi that Emefiele ought not to be arraigned before the court on constitutional grounds.

He, therefore, urged the court to resolve the objection on whether the court had the jurisdiction to try the case or not.

The second defendant’s counsel, Kazeem Gbadamosi (SAN), also relied on the submissions of Ojo.

The EFCC counsel, Oyedepo, however, objected, as he asked the court to disregard the decision of the Court of Appeal relied upon by Ojo, saying that the Court of Appeal could not set aside the decision of the Supreme Court on any matter.

Ruling on the submissions of the counsel, Justice Oshodi said he would give his decision on jurisdiction when he delivered judgment as he adjourned till May 3.

He also directed the EFCC to serve the defence proof of evidence on witness number six and his extrajudicial statement.

 

 

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Electricity tariff hike: NBA threatens lawsuit against DisCos

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The Nigerian Bar Association (NBA), Ikeja Branch, has given the Federal Government and Electricity Distribution Companies (Discos) a seven-day ultimatum to reverse to the old electricity tariff or face a lawsuit.
The chairman of the branch, Mr Seyi Olawunmi, said this at a news conference in Lagos, yesterday.
Olawunmi described the increase in the electricity tariff by almost 300 per cent as not only unreasonable but also insensitive.
He said the National Electric Regulation Commission (NERC) order in respect to the tariff hike was not in line with the current economic realities of an average Nigerian.
He said the branch would seek appropriate remedies in the court if the Federal Government and concerned individuals failed to reverse the illegal electricity tariffs within seven days.
Olawunmi noted that NERC in December 2023, issued a new Multi-Year Tariff Order (MYTO 2024) which indicated a purported cost-reflective tariff chargeable by the various Discos.
He explained that large chuck of the electricity tariff was reportedly absorbed by the Federal Government under a subsidy arrangement.
The chairman said that the purported subsidy had reportedly been removed by the Federal Government, leading to an over 300 per cent increase in the electricity tariff payable by the end-user.
“We view this sudden astronomical increase in the end-user tariff irrespective of the technical arguments preferred in justification, as utterly exploitative and non-reflective of the current economic hardship that the masses are going through.
“The inflation and the depreciation of the Naira has affected their services that it is practically impossible to remain on the old tariff and electricity in Nigeria is not well priced.
“We, therefore, demand immediate stop to the illegal implementation of the N225 per kWh imposed on the so called band A customers at the discretion of both the Discos and NERC without any empirical basis.
“The classification into band A or B or C or D or E should be scrapped and it is either the Discos are guaranteeing 24 hours supply for all or they are not.”
Olawunmi said the government and the Nigerian people can not continue to subsidise their inefficiency in the name of band A or B or C etc.
“If the government fails to reverse the illegal hike within seven days, we will be left with no choice than to seek appropriate remedies in the court of law,” the NBA Chairman said.

 

 

 

 

 

 

 

 

 

 

 

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