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No Justification to Sell Petrol Above N100 in Nigeria—PDP

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petrol pump price

By Dipo Olowookere

The nation’s main opposition party, the Peoples Democratic Party (PDP), has kicked against the recent hike in the price of Premium Motor Spirit (PMS), otherwise known as petrol.

It was reported on Friday that Nigerians will now begin to pay N170 per litre for petrol following the increase in the depot price of the product to N155.17 per litre from the initial N147.67 per litre.

Reacting to the increment, the PDP, which ruled the country for 16 years from 1999 to 2015, described the action as wicked, unbearable and unacceptable, emphasising that there was no justification to increase the cost of fuel to anything above N100 per litre let alone N170 per litre, “when there are practical options to maintain affordable price given our production capacity and potentialities.”

The party, in a statement signed by its spokesman, Mr Kola Ologbondiyan, stated that based on this, it has rejected the hike because it was coming at a time the citizens of the country were experiencing an “excruciating economic crunch foisted on Nigerians by the Buhari administration.”

According to the PDP, “this increase in the pump price will worsen the already suffocating economic situation in the country [as it] will also be an additional log tied on the economic neck of Nigerians.”

“It is evident that the continuous increase in the pump price of fuel under opaque and nebulous indices is a product of incompetence and large scale corruption being perpetrated by a few individuals in the Buhari administration, who are bent on fleecing Nigerians and holding our nation to ransom.

“Our party notes that the APC administration has failed to come clean on the parameters being used for the hike in prices vis-a-vis our production, export and accruing revenue.

“Indeed, the APC administration is not being honest with Nigerians regarding the status and volume of oil production, sales and accruing revenue.

“This is in addition to its failure to fix our refineries and end crude oil theft, allegedly to aid APC interests.

This appears to provide answers to why the APC administration has failed to offer any explanation on huge fraud going on in the management of our nation’s oil resources including the alleged stealing over N9.6 trillion ($25 billion) by APC interests, as detailed in the leaked NNPC memo.

“It has also failed to publish details of its sleazy oil subsidy regime, including the involvement of APC interests in the claimed under-recovery for unnamed West African countries, running into trillions of naira, while Nigerians are made to bear the burden of high fuel costs.

“Such humongous fraud in the management of our oil resources is responsible for the high costs and unspeakable hardship being suffered by millions of Nigerians who can barely afford their meals and basic necessities of life,” the statement said.

“Our party urges President Buhari to end the corruption and the stealing of our oil resource under his watch by APC leaders, recover the looted resources and immediately reverse this increase in the price of fuel.

“President Buhari should also take steps to fulfil his promise to revamp our refineries or accept his failures and apologize to Nigerians.

“It is still not yet late for him to get more competent hands to run our oil sector instead of imposing more hardship on Nigerians,” it added.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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OAGF Says No Public Funds Paid to Ghost Presidential Council

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Presidential Economic Advisory Council Adeyemi Adeniyi Matthew

By Adedapo Adesanya

The Office of the Accountant-General of the Federation (OAGF) has revealed that the phantom Presidential Foreign Intervention Promotion Council (PFIPC) does not operate any account with the Central Bank of Nigeria (CBN), adding that no public funds or salaries have been paid to the organisation.

The latest clarification was issued by the director of public relations at the OAGF, Mr Bawa Mokwa, amid controversy over the status of the PFIPC as a Nigerian government entity.

Earlier on June 11, the Chief of Staff to the Nigerian President, Mr Femi Gbajabiamila, said in a disclaimer that the purported activities of the so-called ‘Presidential Foreign Intervention Promotion Council (PFIPC) and Presidential Economic Advisory Council (PEAC)’ were a fictitious entity and that his office had not appointed anyone to lead it.

The Chief of Staff said the PFIPC/PEAC convener, Mr Adeniyi Adeyemi, is an impostor and is facing criminal prosecution.

The Presidency, in an X statement on July 1, said that Mr Adeyemi used forged documents to fraudulently open a CBN account by deceiving the Office of the Accountant-General of the Federation.

“The police found that Adeyemi, using the fake documents he created, fraudulently opened a CBN account by misleading the Office of the Accountant-General of the Federation. According to the police, no government money has been transferred into the account,” it said.

Meanwhile, on July 2, Mr Adeyemi countered the Chief of Staff’s disclaimer, alleging that Mr Gbajabiamila received N400 million through a proxy to facilitate his appointment.

The OAGF spokesperson explained that the process of opening a CBN account for the PFIPC was never completed because the required documentation to activate the account was not submitted.

“You cannot open an account at the CBN without authorisation from the Accountant-General. The Accountant-General will authorise them to open an account at the CBN,” Mr Mokwa said.

Mr Mokwa stated that the purported PFIPC Director-General, Mr Adeyemi, approached the OAGF and presented an appointment letter, but alleged that the document concerned an already existing agency rather than the PFIPC.

The OAGF press director explained that the account-opening process commenced based on the document presented. Still, the account never became operational because the names of the officials expected to serve as account signatories were not submitted.

He insisted there was no channel through which the Office of the Accountant-General could release government funds to the agency because it did not have an operational account or a CBN-created one.

“The account, till today, has not seen the light of day. It has not seen one kobo because the account is not completely operational.

“That portrays that he has not collected a dime. The AGF has not released a dime to him because they don’t even have a place where the money can be paid,” Mr Mokwa said.

Mr Mokwa explained that before any federal agency can recruit workers and place them on the government payroll, it must first obtain the necessary approvals from the Federal Character Commission (FCC), the Budget Office, and the Federal Civil Service Commission (FCSC).

He added that after the approvals are granted, the names of employees can be submitted to the Office of the Accountant-General for enrolment on the federal payroll and payment of salaries.

“If they give you a waiver for 200 people, you take the waiver to these agencies and then present the papers to the Accountant-General.

“He cannot capture even one name without those approvals because once they are captured, payment will come from the budget,” Mr Mokwa explained.

Mr Mokwa added that none of those requirements had been completed.

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Court to Rule on Malami’s 57-Property Forfeiture Case July 10

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Abubakar Malami Assets Recovery Campaign

By Adedapo Adesanya

A Federal High Court in Abuja has fixed Friday, July 10, to deliver judgment in the suit filed by the Economic and Financial Crimes Commission (EFCC) seeking the final forfeiture of 57 properties allegedly linked to former Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami.

Justice Joyce Abdulmalik had initially scheduled the judgment for Monday after the parties adopted their final written addresses in May. However, the court postponed the ruling to July 10 without stating the reason for the adjournment.

The EFCC is asking the court to order the permanent forfeiture of the properties to the Federal Government, arguing that they are suspected proceeds of unlawful activities.

Counsel to the commission, Jibrin Okutepa (SAN), maintained that Mr Malami and the other respondents failed to provide sufficient evidence to establish that the properties were lawfully acquired.

Opposing the application, Mr Malami’s counsel, Mr Adedayo Adedeji (SAN), urged the court to dismiss the suit, arguing that the agency’s case was based on suspicion rather than credible and admissible evidence.

He further submitted that the EFCC relied largely on extrajudicial statements and contended that several of the properties in dispute were acquired before Mr Malami assumed office as Attorney-General, making them unrelated to any alleged criminal proceeds.

Counsel representing other individuals and companies named as respondents in the matter also asked the court to reject the EFCC’s application for final forfeiture.

The court is expected to determine the application on July 10, when it delivers judgment on whether the disputed properties should be permanently forfeited to the federal government.

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FG Evacuates More Nigerians in South Africa After Fatal Xenophobic Attacks

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Xenophobic Attacks

By Adedapo Adesanya

The federal government says another batch of Nigerians is expected to leave South Africa on Tuesday amid the renewed wave of xenophobic attacks that has led to the death of two citizens.

Nigeria’s Minister of Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu, disclosed this in a statement posted on her official X handle on Monday morning.

“Another evacuation flight will leave for Johannesburg tomorrow, Tuesday, July 7 (2026), to bring home our citizens,” Mrs Odumegwu-Ojukwu wrote.

The evacuation is the latest in the repatriation exercise by Nigerian authorities as they seek the safety of their citizens in South Africa.

Already, three batches of Nigerians have returned home since the evacuation began last month. The minister said the last flight for the evacuation is “expected to arrive in South Africa on 10th July”.

“Our Nationals are again advised to weigh the risks regarding whether to remain or return,” she said.

The Nigerian foreign ​ministry has said on Sunday that two Nigerians were killed in South Africa, one of them by police and ​threatened to take unspecified action if the attacks persisted.

Mrs Odumegwu-Ojukwu asked Nigerians in South Africa “who consider their lives at risk to take advantage of the FG-sponsored evacuation flights to be transported home”.

“Following the earlier evacuations of our citizens in 3 separate operations, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, President Bola Ahmed Tinubu GCFR, extended the Evacuations beyond the June 30 deadline, with the fourth evacuation flight having arrived in Nigeria on 3rd July 2026,” the diplomat said. “Our citizens are strongly advised to take advantage of this extension and utilise the full capacity of the aircraft.”

The minister condemned the killing of the two Nigerians in South Africa, calling on authorities to “urgently investigate the incidents and bring those responsible to justice”.

“There are no signs that the situation is improving,” she said.

“Nigeria remains concerned about the safety of its citizens in South Africa as a result of the ongoing xenophobic protests and attacks on migrants, and even more so following the deaths of 2 Nigerians, Musa Yunana Joe and Charles Iroegbu, during these unfortunate events,” the minister said.

“For many still sitting on the fence, they should do well to note that properties and investments lost can be replaced, but not lives lost,” she wrote.

“The Federal Government of Nigeria remains committed to the safety and welfare of its citizens abroad and will put all necessary measures in place to protect them.”

Several African countries have repatriated their citizens from South Africa as fringe groups began demanding all illegal migrants leave by June 30, in a campaign that saw violent protests and clashes in which foreign nationals were killed.

The Border Management Authority says that more than 35,000 people have already been repatriated or deported since June 7.

The groups mobilising against illegal immigrants blame them for high unemployment and lack of services, pressing social problems that analysts say are largely due to government failures.

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