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Nigerians Face Hard Times, As Kerosene Hits N800/Litre

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Price of kerosene has increased to N800 per litre just as the market is beginning to adjust to the newly increased petrol and gas prices.
A market survey carried out by The Tide’s source revealed that one litre of cooking kerosene, which was sold at N700 last week, now sells for between N800 and N850 in urban parts of Lagos State, while the price has hit as high as N1000 per litre in suburb areas at filling stations.
Comparatively, in Ghana, the price of a litre of cooking kerosene currently sells for GHS 12.044 (N585) per litre.
Unlike petrol, kerosene is a deregulated product, meaning prices are determined by market forces.
“It’s a deregulated market. It is also a function of the dollar to naira rate and the crude price at the international market. Since cooking kerosene is deregulated, prices can go up, it can also come down,” National Operations Controller, Independent Petroleum Marketers Association of Nigeria, (IPMAN), Mike Osatuyi told The source.
The Nigerian Bureau of Statistics (NBS) had in June reported an 88 per cent rise in prices of cooking kerosene and Liquefied Petroleum Gas within in one year.
According to the NBS report on “National Household Kerosene Price Watch,” the price of cooking kerosene went up by 86.94 per cent in one year.
The report also said the average retail price per litre of household kerosene, HHK, paid by consumers in May 2022 increased by 15.21 per cent on a month-on-month basis from N589.82 in April 2022 to N679.54 in May 2022.
The state profile analysis showed that the highest average price per litre in May 2022 was recorded in Enugu with N868.75, followed by Ebonyi with N861.11 and Imo with N801.67. On the other hand, the lowest price was recorded in Bayelsa with N558.06, followed by Yobe with N601.39, and Nasarawa with N603.33.
In addition, the South-East recorded the highest average retail price per litre of household kerosene with N773.09, followed by the South-West with N738.19, and the North-Central with N668.78, while the North-East reported the lowest with N632.06.
On his part, an energy expert, Bala Zakka, while speaking in an exclusive chat with the source, attributed the sharp increase in the price of the products to Nigeria’s continued inability to refine petroleum products for local consumption.
Executive Secretary, Depot and Petroleum Products Marketers’ Association of Nigeria, (DAPPMAN) Olufemi Adewole, told the source that the reason for the continuous rise in prices of cooking kerosene was the exchange rate.
“Cooking kerosene is deregulated so prices depend on foreign exchange. A dollar is now N700 from N600 just last month, so prices will surely increase,” he said.

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Fubara Promises To Maximise Youth Potentials In Rivers

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Rivers State Governor, Sir Siminalayi Fubara, has affirmed his administration’s focus in prioritising policies that will maximise the potentials of the youths in the State.
Fubara made this declaration yesterday at the State NYSC permanent orientation camp, Nonwa-Gbam Tai, in Tai Local Government Area during the swearing-in ceremony of 2024 Batch A Stream 1 corps members deployed to Rivers State.
This was contained in a statement by the Head of Press Unit, Office of the Secretary to the State Government, Juliana Masi, yesterday.
Represented by the Permanent Secretary, Special Services Bureau, Office of the Secretary to the State Government, Sir Samson Friday Dede, the governor commended the NYSC Scheme for the positive impacts it is making in the nation’s quest for sustained development.
“My administration will be unwavering and fully focused in supporting the youths in maximizing their potentials”, he said.
He assured the corps members of his administration’s commitment in supporting them to achieve the mandate of uniting and integrating to the nation.
The governor further admonished corps members to take full advantage of the camp programmes and activities to equip themselves to contribute to nation building.
Earlier, Coordinator, NYSC, Rivers State, Mr. George Mfongang, had urged the corps members to be in the forefront of the nation’s development by being hard working, disciplined and morally sound.
He commended them for being passionate and enthusiastic in imbibing the lessons of the orientation exercise.
The Coordinator thanked Governor Fubara for his unflinching commitment in ensuring the security and welfare of corps members in the State especially, the payment of State allowance to them.
A total of 1,585 Corps members made up of 819 males and 766 females took the oath of allegiance at the ceremony that was administered by Justice Ibiwengi Roseline Minakiri.

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FG, Cement Manufacturers Agree On N7,000, N8,000 For 50kg Per Bag

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The Federal Government and cement manufacturers have agreed on a N7,000 to N8,000 per 50 kg bag price of cement to halt the astronomical rise in the price of the product.
This agreement was part of a deal struck after several hours of meeting held behind closed doors at the headquarters of the Ministry of Works, between the Federal Government and cement manufacturers , in Abuja, yesterday.
The manufacturers agreed to sell a 50kg bag of cement at a retail price between N7,000 and N8,000, depending on location nationwide.
They, however put a caveat that the price drop from the current market price would largely depend on government fulfilling its promised interventions in certain areas of concern to ameliorate critical challenges faced in the industry.
Retail price for cement jumped from N5,000 to N10,000 within one week in the open market, after wholesalers, citing increasing cost of transportation and other variables, made adjustments to the price they sell to retailers.
Retailers in turn transferred the additional cost burden to consumers to stay afloat.
This prompted President Bola Tinubu to order the Ministers of Works, David Umahi and his Trade and Investment counterpart, Dr. Doris Uzoka-Anite. to meet with cement manufacturers to find a solution to the crisis.
Umahi had, while calling for the meeting, expressed the Federal Government’s concern over the development, adding that if the situation wasn’t brought under control, it had the potential of hurting the prosperity agenda of the current administration.
After the meeting, Umahi read out a communique in which he mentioned concerns raised by the manufacturers.
These concerns include: bad roads, smuggling, high cost of energy, and the Forex crisis. This according to the manufacturers were the primary reasons behind the price hike.
He also said the manufacturers which include Dangote Cement PLC, BUA Cement PLC, Larfarge Africa PLC and Cement Producers Association, expressed willingness to reduce the prices going forward.
Representatives of the Federal Government include the Minister of Works and his counterpart in the Ministry of Industry, Trade and Investment.
While reading the communique, Umahi said: “The meeting noted the challenges of the manufacturers like: cost of gas; high import duty on spare parts; bad road network; high foreign exchange; and smuggling of cement to neighbouring nations.
“The government noted the challenges and reacted as follows: Federal Ministry of Industry, Trade and Investment to seek some remedies from Mr. President on cost of gas and import duties.”

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We Are Hungry, Dying, Ibadan Protesters Tell Tinubu

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Thousands of people, on Monday, thronged the major streets of Ibadan in Oyo State, to protest the hardship in the country.
The protesters, who are mainly youths, kept saying they were not out to cause trouble, but to call the attention of all the tiers of governments to the unbearable hardship in the country.
Though they did not use any objects to block the roads, they converged on accesses leading to the University College Hospital, UCH, Ibadan, Sango, Dugbe and Eleyele, thereby blocking vehicular traffic.
They displayed several placards with inscriptions such as ‘Give us good health, End bad governance, End food hike, Open border, End hardship, ‘Is this the renewed hope you promised?’
At intervals, organisers of the protest kept updating the security agents who kept vigilance to arrest anyone who caused problem or hijacked the protest for selfish ends.
During the protest, some schools and banks shut their gates.
The Tide learnt that the protest was convened through the social media.
One of the messages sent by the conveners read, “People should not pass through Mokola roundabout because there will be protest on Monday”.
The message advised that motorists should take alternative routes to their destinations.
A lady who refused to disclose her name, caught the attention of many people with a placard that read: ‘Sanitary pad now costs N4,000; we can’t be using cloth, Please, help us’. Nothing should happen to me. All I’m asking for is my legitimate earning and ease of life.’
Another woman, who identified herself as Mobolaji Inaolaji, one of the coordinators, said: “We want to tell our leaders that things are not right, they should make things easier for us. We are not here to cause violence, things are too costly and people are dying.
“It is our right to protest whether we got permit or not. We have told the security agents that they should arrest whoever causes problem. We are peaceful and law abiding. All we want is to make government know our pains. We will go through most parts of the city.”
Other protesters who were speaking with anger, said: “This problem is too much. Whoever wants to arrest me should come and do so. If we don’t die outside, we’ll die at home.”
After about an hour at Mokola, the protesters headed towards Sango and other parts of the city.

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