Business
Aviation Fuel Hike: Reps, NNPC, Others Intervene
Following the astronomical hike in Aviation Turbine Kerosene, popularly called aviation fuel, and subsequent cancellations of flights resulting in overcrowding of Nigeria’s airports, the House of Representatives and other key stakeholders have intervened.
The intervention came sequel to a threat by domestic airlines under the Airline Operators of Nigeria, to shut down operations this week over skyrocketing aviation fuel price, during the investigative hearing by the House on fuel hike in Abuja on Monday.
The Tide’s source in Abuja said the threat forced the Deputy Speaker of the House, Ahmed Wase, and other major stakeholders to convene what is described as an emergency meeting within-the-meeting to address the issue.
Such stakeholders include: Group Managing Director, Nigerian National Petroleum Company Limited, MeleKyari; Chairman of Air Peace and Vice-President of the AON, Allen Onyeama; Chairman, Major Oil Marketers Association of Nigeria, OlumideAdeosun; and Chairman, Depot and Petroleum Marketers Association of Nigeria.
Kyari, who read out the resolution from the meeting, said, “We know this is a very difficult situation. We know that once aviation fuel increases, prices of flight tickets will certainly increase and this can surely cause pains for Nigerians.
“That is why we are working with you to ensure that those pains were minimised to the barest minimum. And one of the elements is the pricing of aviation fuel.
“So, what we have engaged with MOMAN, DAPMAN and the airline operators is that in three days’ time, their representatives will sit down and agree on a transparent base for pricing. That means that they ought to have a referenced benchmark that is quoted transparently in the market.
“They will have a referenced exchange rate for the naira so that everyone can compete. They will also agree on a premium, which currently differs from customer to customer, depending on the volume you buy and the credit level”, the NNPC boss stated.
Meanwhile, the jump in the cost of aviation fuel has resulted in over-crowded airports, as airlines reschedule and cancel flights at short notice, leaving passengers stranded.
Following the development and subsequent intervention by the House of Representatives on Monday, the Federal Government, airline operators and oil marketers agreed to peg the price of the commodity at N500/litre pending the resolution of the rising price crisis of the commodity.
The current price of aviation fuel is N670/litre and this cost has led to a crisis in the sector such as flight delays and cancellations due to the inability of airlines to easily access the commodity at that cost.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
PHCCIMA Leadership Hails Rivers Commerce Commissioner for Boosting Business Ties …..Urges Deeper Collaboration to Ignite Economic Growth
-
Business11 hours agoNCDMB Council, Mgt Seek Improvements In Corporate Governance, Performance
-
News6 hours agoHYPREP Probes Overhead Tank Collapse
-
Opinion10 hours agoTradition or idolatry? The Debate Over Nhe-Ajoku
-
Sports6 hours agoNPFL : Finidi Praises Players Over Draw Against Insurance
-
News20 hours agoFG approves 3 critical civil service policies
-
Education10 hours ago500 Teachers Recruited in Zamfara as Part of Education Reforms
-
Business11 hours agoSenate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
-
News6 hours agoClub President Lauds Fubara Over Development Strides
