Oil & Energy
No Approval For Increase In Petrol Price – FG
President Muhammadu Buhari has not approved any increase in the price of petrol, the Minister of State for Petroleum Resources, Chief Timipre Sylva, said last weekend.
He stated in a statement in Abuja that the current increase in the pump price of petrol, which started on Thursday, was the handiwork of mischief makers and those planning to discredit the achievements of the president.
The pump price of petrol rose on Thursday from N179 in major marketers’ filling stations to N199 per litre in Abuja and other northern states, while Lagos and neighbouring states raised their prices to N185 per litre.
“President Muhammadu Buhari has not approved any increase in the price of PMS or any other petroleum product for that matter.
“There is no reason for President Muhammadu Buhari to renege on his earlier promise not to approve any increase in the price of PMS at this time.
“Mr President is sensitive to the plight of the ordinary Nigerian and has said repeatedly that he understands the challenges of the ordinary Nigerian and would not want to cause untold hardship for the electorate.
“Government will not approve any increase of PMS secretly without due consultations with the relevant stakeholders.
“The President has not directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) or any agency for that matter to increase the price of fuel. This is not the time for any price increase in the pump price of PMS,” Sylva stated.
The minister noted; “I appeal to Nigerians to remain calm and law abiding as the government is working hard to bring normalcy to fuel supply and distribution in the country.”
Meanwhile, the Major Oil Marketers Association of Nigeria (MOMAN) has said the present petrol queues being noticed across the country were caused by exceptional high demand and bottlenecks in the fuel distribution chain.
The association also said another major cause is the shortage and high (US dollar) cost of daughter vessels for ferrying products from mother vessels to depots along the coast.
It also blamed the situation on inadequate number of trucks to meet the demand to deliver product from depots to filling stations nationwide.
These high logistics and exchange rate costs continue to put pressure on prices at the pump, it said in a statement.
While sympathising with customers and Nigerians over the challenges, it said, over the past three months, staff & management of MOMAN companies have worked diligently at depots and filling stations to relieve the stress faced by customers through the Christmas and New year period.
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Oil & Energy
Delta Targets 120MW Power Boost, Moves To Cut Reliance On National Grid
The State Commissioner for Works (Rural Roads) and Public Information, Charles Aniagwu, disclosed this at a press conference in Asaba, weekend, noting that the initiative was part of wider reforms aimed at opening up the power sector to private investors.
Aniagwu, who was accompanied by the Executive Assistant to the Governor on New Media, Felix Ofou, said the state was exploring alternative sources of electricity to support businesses, households and communities while reducing pressure on the national grid.
He said the government was particularly interested in exploiting Delta’s abundant natural gas resources for power generation, pointing to the Kwale Free Trade Zone, which is part of the state’s special economic zone, as a major opportunity for investors.
According to him, prospective investors were taken to the zone during the state’s recent economic summit to enable them to assess the availability of gas as a key raw material for electricity generation. ComparePower Rates
The commissioner explained that generating more electricity locally would not only increase supply in Delta but also free up power on the national grid for use by other consumers.
Aniagwu cited the 8.5MW Independent Power Plant located behind the state secretariat in Asaba as an example of what could be achieved through alternative power sources.
He said the facility had enabled the secretariat complex to operate independently of the national grid, thereby making the electricity that would otherwise have been consumed there available to other users.
He added that the planned 120MW partnership with Supply Power would further strengthen the state’s electricity supply capacity and provide a more reliable power base for small and medium-sized enterprises.
Aniagwu said the state government was also intervening in areas traditionally regarded as the responsibility of electricity distribution companies because inadequate power supply could no longer be allowed to constrain economic development. LearnQuantum Physics
He identified the extension of the electricity grid from Abraka towards the Ndokwa axis as one of the interventions being undertaken to connect more communities to electricity.
The commissioner, however, raised concerns over the burden placed on communities that are often required to provide transformers and other electricity infrastructure, only for distribution companies to take over the facilities and subsequently collect electricity bills without adequately accounting for the investments made by the communities.
He said the state would continue to support efforts aimed at energising communities, noting that improved electricity supply would stimulate businesses, create jobs and help tackle social problems associated with unemployment and idleness.
On regulation, Aniagwu said the government was working with the Ministry of Energy and a committee set up to develop an appropriate regulatory framework for the state’s emerging power sector. SwitchEnergy Plans
He said the proposed energy commission would be responsible for regulating new electricity producers, determining appropriate tariffs and overseeing distribution networks.
The commissioner stressed that liberalising the sector required effective regulation to protect consumers and investors, adding that decisions on power distribution infrastructure, including the use of overhead or underground lines, must take into account the peculiarities and safety requirements of each location.
He warned that power expansion without adequate regulation could expose residents to electrocution and other hazards, stressing the need to protect electricity infrastructure while ensuring consumers were not subjected to unfair pricing.
Aniagwu said the state government’s broader objective was to build an efficient and sustainable electricity market driven by private investment and capable of powering businesses, households and communities across Delta State.
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