News
Force Majeure: Gas Marketers Caution Nigerians Against Panic Buying
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) has cautioned Nigerians against panic buying of liquefied petroleum gas (LPG), otherwise known as cooking gas as a result of the force majeure declared by the Nigeria Liquefied Natural Gas Limited (NLNG).
NALPGAM’s National President, Oladapo Olatunbosun, made the appeal in a statement against the backdrop of NLNG’s declaration of force majeure on its gas facility due to flood, and increasing customers’ desperate rush to stock the product in their homes.
Olatunbosun said that cooking gas consumers need not panic about a possible scarcity of the product as a result of the force majeure.
Force majeure is a common clause in contracts, which essentially frees both parties from liability or obligation when an extraordinary event or circumstance beyond the control of the parties.
The circumstances include war, strike, riot, crime, epidemic or sudden legal changes, which prevent one or both parties from fulfilling their obligations under the contract.
Olatunbosun reiterated that, “Based on information reaching the association, NLNG has not shut down its production facility in Bonny as rumoured.
He confirmed that NLNG on Thursday, October 20, 2022, had shipped a cargo of LPG for the domestic market.
He said that the dedicated vessel for shipment of LPG from the NLNG Plant in Bonny, “Alfred Temile”, arrived in Lagos on Thursday to discharge product.
“The public should know that the supply of LPG from NLNG has not stopped.
“We should not give opportunity for further price hike due to speculated shortage of the product”, he said.
“We are already in hard times with the Russia/Ukraine war causing upset in the markets, and the scarcity,” he said.
Olatunbosun said that NLNG has assured the association that it would keep producing LPG based on the feed-gas it receives from its gas suppliers, adding that production was expected to pick up after the flood recedes.
He, however, cautioned middlemen in the value chain not to take advantage of the hysteria in the market as a result of the flood, which has also hampered the distribution of the product across the nation.
The president called for urgent intervention by the critical stakeholders to grow the industry, and for more investment to meet demand and crash the price.
Earlier, in a statement, the General Manager, External Relations and Sustainable Development, NLNG, Andy Odeh, advised Nigerians on the need not to rush to fill their gas cylinders as there was enough quantity of LPG to satisfy the local market.
Odeh said that the flooding or force majeure declared has no impact on LPG availability.
The NLNG accounts for 40percent supply of gas in the domestic market, and in recent times, has been the sole supplier for the domestic market.
Odeh further explained that the company’s plant was in operation at a limited capacity due to reduced gas supply from some of its upstream gas suppliers.
None of NLNG’s assets on Bonny Island or in any of its host communities are impacted by the flood.
The force majeure is as a consequence of a similar notice by upstream gas suppliers due to the impact of flood in their production facilities.
“NLNG continues to monitor the situation with upstream gas suppliers and is evaluating the impact of the flood on its business,” he said, assuring that the firm was working with all critical stakeholders to mitigate the impact on product deliveries.
By: Nelson Chukwudi
News
NAFDAC Busts Fake Alcohol Factory In Lagos
The National Agency for Food and Drug Administration and Control (NAFDAC) has dismantled a makeshift factory in the Oke Arin market, Lagos Island, where counterfeit alcoholic beverages were being illegally produced.
According to a statement via its X, yesterday, the agency, acting on a complaint, conducted a raid that led to the arrest of three men and the seizure of counterfeit drinks, empty bottles, and packaging materials.
According to NAFDAC, the seized products, which included fake versions of popular alcoholic brands, were valued at over ¦ 180 million.
The main suspect, Mr. Tochukwu Henry, confessed to refilling bottles labelled as Rémy Martin with ST-Rémy contents.
He also admitted to employing two other individuals to assist in the operation.
The statement said, “NAFDAC has raided a makeshift factory in Oke Arin market, Lagos Island, following a complaint about the illegal production of alcoholic beverages. Three men were apprehended and various counterfeit alcoholic drinks, empty bottles, and packaging materials were seized.
“The products, valued at over ¦ 180 million, included fake versions of popular brands. The main suspect, Mr. Tochukwu Henry, confessed to refilling bottles labelled as Rémy Martin with ST-Rémy contents and employing two others to assist in the illicit operation.
“All suspects are currently in custody for further investigation. NAFDAC calls on the public to remain vigilant, especially during the festive season, and to report suspicious activities and products to the nearest NAFDAC office.”
News
Reps Give FG 72 Hours To Unfreeze NSIPA’s Accounts
The House of Representatives has called on the Federal Government to direct the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, to within 72 hours, unfreeze the accounts of the National Social Investment Agency (NSIPA), given its role in addressing hunger and poverty.
The position of the Green Chamber was a sequel to the adoption of a motion at yesterday’s plenary sponsored by the Deputy Speaker, Benjamin Kalu, and 20 other lawmakers.
Allegations of corruption and shady deals compelled the President Bola Tinubu-led government to freeze the accounts of the agency, to give room for a total overhauling of its programmes.
While calling for support for the motion yesterday, Kalu emphasised that NSIPA oversees critical social intervention programmes such as Grant for Vulnerable Groups, N-Power, the Government Enterprise and Empowerment Programme, Conditional Cash Transfers and the National Home-Grown School Feeding Programme, among others.
He also noted that the Renewed Hope Agenda of the Tinubu-led government emphasises the mandate of the NSIPA to cushion the effect of economic shocks on the poor and the vulnerable.
He said, “The House is disturbed that despite the programmes of NSIPA being vital for poverty alleviation, youth empowerment, and economic inclusivity in Nigeria; the agency’s functionality has been hindered due to administrative bottlenecks, insufficient funding and frozen accounts.
“The House is worried that the effort of the government and the laudable programmes of NSIPA were truncated by alleged financial mismanagement by handlers of the programmes leading to the suspension of programmes and freezing of the agency’s account and subsequent investigation by anti-corruption and security agencies.
“The House is concerned that the smooth operations of the programmes and the fulfilment of the mandate of NSIPA are hindered due to the suspension of the accounts of the agency and other administrative bottlenecks, which has remained in force even more than three months after the President reconstituted the new management of NSIPA.”
Kalu who represents Bende Federal Constituency, Abia State, further said the frozen accounts of the agency contradict the President’s mandate on poverty alleviation by hindering and halting social welfare programs, including conditional cash transfers, small business grants, and school feeding initiatives.
This, according to him undermines “Economic empowerment initiatives, delays in achieving Sustainable Development Goals and cause erosion of public confidence and administrative paralysis in fighting poverty, among other things.”
Kalu noted that following the suspension of accounts of the NSIPA, “The N-Power programme has been so negatively affected that 395,731 beneficiaries are owed outstanding stipends to the tune of N81.32bn; a fund already captured under the 2023 and 2024 amended Appropriation Acts, which will lapse by the year ending December 31, 2024.”
Following the adoption of the motion, the House urged the President to mandate the minister of finance and the Coordinating Minister of the Economy to “ensure that all frozen accounts of the National Social Investment Programmes Agency are unfrozen within 72 hours to enable the smooth recommencement of all the programmes.”
The minister was also tasked to ensure the release of funds to NSIPA for the payment of outstanding stipends owed to 395,731 N-Power beneficiaries nationwide without further delay.
It further mandated the Minister of Humanitarian Affairs and Poverty Reduction, Dr Yusuf Sununu, to ensure that all the administrative bottlenecks hindering the smooth operations of all programmes of NSIPA are immediately removed.
News
Rivers Dep Gov Bags Award
Rivers State Deputy Governor, Prof. Ngozi Nma Odu, has expressed gratitude to the Nigerian Institute of Food Science and Technology for upgrading her to the status of a Fellow by the President and Governing Council of the Institute.
Prof Odu expressed this when a delegation of Fellows and other members of the Institute visited her at the Government House in Port Harcourt, yesterday to perform her Investiture as a Fellow of the Institute of Food Science and Technology.
Prof. Odu said that what the Institute has done for her is exceptional, adding that she feels so humbled by their kind gesture and proud of the Institute which she described as a trailblazer.
I want to thank our Emeritus Prof. Simeon Achinewhu for keeping the flag flying and I am pleased to be a part of this family”. Prof. Odu further stressed.
The Deputy Governor who called for continuous prayers for the success of the Governor Fubara-led Administration, noted that prayers were their greatest defense in times of trouble.
“This Administration needs God to sustain us, we need God to direct our steps, we need God to navigate especially when you have challenges, God has done it thus far and I believe the good Lord shall lead us until we finish when he wants us to finish.” The Deputy Governor further stressed.
Also speaking the leader of the delegation, Emeritus Prof. Simeon Achinewhu, said they were in the Government House to decorate the Deputy Governor as a Fellow of the Nigerian Institute of Food Science and Technology, in line with the directive of the national body of the association to formally present the Deputy Governor with her award and certificate of membership, following are indelible contributions to the growth of the association.
Earlier, the Chairman South -East Chapter, of the Nigerian Institute of Food Science and Technology, Dr. Bariwere Samuel, while assuring the State Government of its readiness to partner with the State on its food safety programs, said it is willing to deploy its expertise and resources to compliment the State Government’s efforts in ensuring the availability of safe and nutritious food for its citizens.
-
Business23 hours ago
Azman Airline Dismisses Aircraft Sale Alegations
-
Sports20 hours ago
NNL Fines Sporting Supreme, Kada Warriors FCs Over Unruly Conduct
-
Featured22 hours ago
RSG Set For Armed Forces Remembrance Day
-
News20 hours ago
AFRD: Let’s Celebrate Gallantry Of Soldiers More While Alive Than In Death -Fubara …As Rivers Honours Fallen Heroes, Members Of Armed Forces With Thanksgiving
-
Business1 day ago
AfDB, Partners Boost Universal Electrification Efforts
-
Politics22 hours ago
Support For Tinubu: It’s About Good Governance, Not Politics – Oborevwori
-
Business23 hours ago
FAAN, UBA Partner In Lagos Airport Terminal Renovation
-
Sports20 hours ago
Sports Plays Driving Role in Dev – VFN President