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Fuel subsidy: Group pleads with Nigerians to exercise restrain as they will soon reap the gains

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***Says FG plans to bring in buses for 36 States of the federation

A group under the aegis of Civil Society for Trust and Fairness has pleaded with Nigerians to exercise some patience with the new Government of President Tinubu over fuel pump price adjustment from N517 to N617 which has been generating mixed reactions across the country since Tuesday.
Speaking at a press conference in Abuja on Thursday, the convener Hon. Sir Iyk Godspower said the Government has more plans that include supply of luxurious buses to cushion the effect of the price increase across the country.
According to him, “As Civil Society Organisation, it is incumbent on us to add our voice to the development that is happening in the economy as a result of fuel pump price adjustment from N517 to N617 which has been generating mixed reactions across the country since Tuesday.
“As Nigerians are all aware of the removal of fuel subsidy regime, we want to reiterate that the removal remains in the best interest of citizens and it would lead to sufficient funds to finance the budget and ensure provision of infrastructure that is much needed today.”
Explainung further, he said Nigeria is a developing economy, hence, any government responsible enough must look for means of liquidity sustainability, one of which he said is the removal of subsidy that has been a major conduit pipe to few oil buccaneers who disguised as business men.

“Unarguably, the removal has created a ‘price shock’, a development that is normal when a paradigm shift occurs.

“The increment of PMS pump price to N517 from the initial N195 per litre in May, 2023 after President Bola Ahmed Tinubu effected the removal of subsidy in his inaugural address, though shocking to Nigerians with its attendant difficulties, has nonetheless led to some advantages.
“This could be seen from the point of availability of products across filling stations. This was made possible, because government decided to break the monopoly of fuel importation.
“The latest slight in price increase too, like the first time, will not only ensure sufficiency of fuel, but will definitely lead to ‘price crash’ in no distant time.

“We acknowledge the hue and cry of the price increase as a result of the adjustment, but we are pleading with Nigerians to show understanding with the Federal government as measures are assiduously being put in place to mitigate the hardships.

“We have it on good authority that the Federal Government was considering palliatives for Nigerian workers through the upward review of salaries and wages; other citizens not captured in the organized system are also being considered for palliatives, while buses will be provided for the 36 States of the Federation including the Federal Capital Territory.

“This will come in form of a scheme that will be properly organized to ensure inclusiveness.
“Apart from the price crash that is the target which will happen soon, the Federal Government through the Nigerian National Petroleum Company Limited, NNPL will ensure functionality of the refineries with a record time. “This will erode the idea of FOREX difficulty that has become the determinant factor of price increase of PMS.
“We call on Nigerians, organized private sector, Labour Unions to show understanding with the Federal Government.
“We also call on the Federal Government to prevail on security agencies to stop the smuggling of fuel across borders to the neighbouring countries, even as they continue to work to bring down the cost of fuel price.”

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Energy

Fuel Scarcity: Obi asks NNPCL to be transparent, come clean on its operations

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Former Presidential Candidate, Peter Obi, has called on the Nigerian National Petroleum Company Limited (NNPCL) to come clean on its operations amidst the lingering fuel scarcity crisis.

Obi, in a statement, lamented the lack of transparency in NNPCL’s dealings, particularly regarding subsidy payments and fuel imports.
He questioned how a company that declared a N3 trillion profit in 2023 could fail to alleviate the fuel scarcity, citing incompetence and mismanagement.

The Labour Party chieftain urged the federal government to take decisive action, ensuring NNPCL’s operations are transparent and accountable to Nigerians.
He emphasized that the current fuel scarcity has inflicted hardship on citizens, and it’s time for those responsible to be held accountable.

Obi’s call for transparency and accountability is a clarion call for good governance and effective management of the nation’s resources.

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Energy

Dangote promises to raise power generation at the National Grid to boost economy

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By Ahmed Rufa’i, Dutse

The Dangote Group of Companies has promised to boost the power generation at the national grid through increased energy production in the country.

This was contained in a press statement issued by the communication officer in charge of north, Dangote Group of Companies, Malam Jibril Abubakar, said the group general manager of Dangote Sugar Refinery (DSR) Numan in Adamawa state, Mr Bello Abdullahi Dan-Musa.

According to the statement, “The company operates an independent power system, and that excess energy will be redirected to the national grid.”

The statement stated further that “the power, from the Dangote Sugar Refinery, Numan, when redirected to the National Grid has the potential to contribute immensely to the rapid development of the economy of the entire Northeast”.
He added that the energy will bring about accelerated development and industrialization in the region.

“President of the Dangote Group, Aliko Dangote, had said that upon completion of the BIP projects, his sugar company will be able to create about three hundred thousand direct and indirect jobs, with positive multiplier effects on the national economy”.

The Group General manager added that “The Sugar Refinery (DSR) employs no fewer than 7,000 workers yearly in its Backward Integration Project (BIP) in Numan, Adamawa State

“The Dangote Group is Nigeria’s biggest employer of labour after the government.”

Mr. Dan-Musa said most of the employees are often engaged on a temporary basis during the cane production season.

Recently, he said the company paid over N500 million to the out-growers for the sugarcane they produced under the DSR Numan out-growers scheme.

The current capacity of the DSR Numan refinery of 4,800 Tons of Cane Per Day (TCD), he said, is being upgraded to 6,000 TCD by end of 2023, 9,800TCD by 2024 and subsequently to 15,000TCD.

According to Mr. Dan-Musa, Dangote Sugar Refinery Numan has contributed immensely in the realization of the Backward Integration program of the Federal Government.

He added that the company has acquired state of the art machines to support its production process, adding that its facilities are environmentally friendly.

The Group General Manager stated further that “its Backward Integration goal is to become a global force in sugar production, by producing 1.5M MT/PA of refined sugar from locally grown sugar cane for the domestic and export markets”.

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Energy

NNPC lays-off top Management Staff

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The Nigerian National Petroleum Company Limited (NNPC) has layed-off some top management staff who have less than 15 months to retire.

This is coming few days after the oil company announced the removal and replacement of three of the its Executive Vice Presidents (EVPs).

Those affected by the previous shakeup included Abdulkabir Ahmed, who was hitherto in charge of gas, power and new energies; Adokiye Tombomieye, who headed the upstream segment as well as Adeyemi Adetunji, who was in charge of the downstream.

They were replaced by Olalekan Ogunleye as EVP gas, power and new energies; Oritsemeyiwa Eyesan for the company’s upstream operations, while Adedapo Segun took charge of the downstream.

The NNPC, in a terse statement, indicated that the new change in the line up was in line with its aspiration to rejuvenate its workforce.

“In our bid to pursue effective organisational renewal to support the delivery of our strategic business objectives, it has become imperative to rejuvenate our workforce.

“Consequently, in addition to the recent exit of three executive vice presidents, other members of management staff with less than 15 months to statutory retirement will be exiting the company effective 19th September 2023,” the statement said.

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