Nigerians Lament as Petrol hits N170/litre
The price of petrol also known as PMS is bound to hit as high as N170 per litre in Nigeria. This is because Pipelines and Products Marketing Company (PPMC), which is the major importer of the product, hiked the ex-depot price from the initial N147.67 per litre to N155.17 per litre.
In an internal memo with reference number PPMC/C/MK/003, dated November 11, 2020, and signed by Tijjani Ali, reads that the new ex-depot price would take effect from Friday. The ex-depot price is the price at which the product is sold by the PPMC to marketers at the depots. In its PMS price proposal for November, the PPMC put the landing cost of petrol at N128.89 per litre, up from N119.77 per litre in September/October. It says the estimated minimum pump price of the product would increase to N161.36 per litre from N153.86 per litre. Consequently, “There is going to be an increase in the pump price. We are expecting the pump price to range from N168 to N170 per litre,” The National Operation Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, said.
Depending on the marketer involved or the proximity of thier filling stations to the loading depot, there is always a differentials of between N12 and N15 between the ex-depot price and the pump price. This makes the N155.17 new ex-depot price to shots up the expected pump price to as high as N170 per liter.
Following the news of the hike, facebook users have taken to their pages to express their grief and disappointment. Below are some comment on a related post:
Oche Onu writes with agency reports.
BSU Student Found Dead Days After Missing
A 300-level student of Benue State University (BSU), Erekaa Naomi Dooshima, has been found dead few days after she was declared missing.
On Tuesday, Ukan Kurugh, the Benue activist, raised the alarm over the whereabouts of the student.
In a post on his verified Facebook page, Kurugh said her identity card, phone, and blood-stained clothes were found in Markudi, the state capital.
“Missing person: A girl by name Erekaa Naomi Dooshima with her Facebook user name “Affection Erikz” is missing, her clothes stained with blood, her phone, identity card were found around Rahama clinic opposite medical school Makurdi. She is a 300-level mass communication student at the Benue State University,” he wrote.
“If anybody has any useful information about her, please contact the nearest police station or the university authority for immediate action.”
In a follow-up post, the activist said the student had been found dead.
Kurugh said the lady’s corpse was found in a fenced land in Markudi and was exhumed by police operatives.
“The corpse of this young lady by name Erekaa Naomi Dooshima I made a post about her missing yesterday has been found in a fenced land behind Bolek Filling State after medical school and is currently been exhumed by men of the Nigeria Police Force Makurdi Benue state,” he added.
The state police spokesperson, Sewuese Anene confirmed the development.
Anene, however, said there is an ongoing investigation to get more details on the incident.
“Yes, we recovered a lady’s corpse yesterday (Wednesday). But I don’t have much details about her at the moment,” she said.
SOUTH-WEST LP DEBUNK FAKE DEFECTION NEWS
South-West LP Debunk Fake News of Leaders Joining APC
The attention of the Labour Party of Nigeria especially the Ondo State Chapter has been drawn to a purported meeting/defection held at Adegbemile hall, Akure, today Monday 13th February 2023 at noon.
The meeting attended by about a few dozen people alledged that the entire Southwest Labour Party has been merged with the All Progressive Congress (APC) with effect from today. As expected, the meeting was chaired by an expelled Labour Party member, Mr. Banji Omotoso, who was the then caretaker state chairman in Ekiti state from 2017 to 2019.
The Ondo State Labour Party under the leadership of our able chairman Chief (Mrs.) Remilekun Ojo make bold to state as follows:
- That the labour party of Nigeria in the Southwest and entire Nigeria remains one and an indivisible party.
- That the entire Labour Party of Nigeria has never at anytime and will under no circumstances ever think of merging with any other Party, not even the All Progressives Congress (APC) that has brought untold hardship and suffering to the entire nation.
- That the so-called Southwest coodinator Mr. Banji Omotoso was an expelled member of the party, who since January 2020 has ceased to have anything whatsoever to do with our great Party.
- That the said Mr. Banji Omotoso was expelled for gross malfeasance and anti-party activities. Therefore he has no authority from any quarters to speak for or on behalf of the Labour Party in Ondo State.
- That we strongly make it clear to the general public and well-meaning long-suffering citizens of Nigeria to disregard any information from the said Mr. Banji Omotoso who has since ceased to be our (LABOUR PARTY) member.
Chief (Mrs.) Remilekun Ojo
Ondo State Chairman
BREAKING: CBN Bows To Pressure, Increases Withdrawal Limit to 500k
The Central Bank of Nigeria (CBN) has revised its cash withdrawal limit policy, stating that individuals and corporate organisations can now withdraw N500,000 and N5 million respectively within a week.
Platforms Africa reports that the apex bank announced this in a letter dated December 21 and signed by the CBN Director of Banking Supervision, Haruna Mustafa. The letter, which was made available to PlatformsAfrica, was addressed to all deposit money banks and other financial institutions.
“The maximum weekly limit for cash withdrawal across all channels by individuals and corporate organizations shall be N500,000.00 and N5,000,000.00 respectively,” the letter read.
Cash withdrawal above the limits shall be subject to a processing fee of 3 per cent and 5 per cent for individuals and corporate organisations respectively.
According to the CBN, the decision to revise the policy was based on feedback received from stakeholders.
Previously, individuals were constrained to N100,000 cash withdrawals weekly and N20,000 daily while corporate organisations were limited to weekly withdrawals of N500,000.
“Third-party cheques above N100,000 shall not be eligible for payment over-the-counter, while the extant limit of N10 million on clearing cheques still subsist,” the letter added.
The CBN said monthly returns on cash withdrawal transactions above the specified limits should be rendered to the banking supervision department, other financial institutions’ supervision and payments system management departments.