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Imminent Fuel Increase as Petrol Landing Cost Rises to ₦1,117 Per Litre

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Fuel Pump

 

 

The landing cost of Premium Motor Spirit, also known as petrol, was N1,117/litre as of Tuesday, July 16, 2024, the Major Energies Marketers Association of Nigeria announced on Wednesday.

MEMAN disclosed this during a webinar with journalists on Wednesday.

The association revealed that the landing cost of diesel was N1,157/litre, while that of aviation fuel was N1,127/litre.

Reports indicate that the N1,117 landing cost of petrol is far above the pump price of the product in Nigeria.

At the moment, filling stations operated by the Nigerian National Petroleum Company Limited and those of the major marketers sell PMS at between N617/litre and N660/litre, while independent marketers sell for N700/litre or more.

NNPC, the sole importer of petrol into Nigeria, has consistently denied subsidising the cost of PMS but refused to disclose the landing cost of the product.

Our correspondent reports that the revelation from MEMAN is almost the first from marketers in the industry as the landing cost appears to have been shrouded in secrecy by the importer of PMS.

MEMAN’s Executive Secretary, Clement Isong, said the costs were obtained from independent energy price benchmark providers.

The association maintained that it would release similar information regularly to keep the masses informed.

Recently, independent oil marketers accused private depot owners of hiking the ex-depot price of petrol from N630 to N720/litre.

An expert in the energy sector, Prof Wumi Iledare, told our correspondent in an interview that the cost of PMS in Nigeria was far below the international price, considering the price of diesel.

“The gap between the cost of diesel and petrol in Nigeria is much. It is never like that all over the world. That means something is wrong.

“I don’t know if NNPC is paying subsidies or not, but somebody is absorbing the difference. You can call it under-recovery or subsidy, but the price of petrol today does not reflect the market cost of producing a litre of petrol,” he disclosed.

Iledare added that with the current exchange rate, the price of petrol should not be less than 80 per cent of the price of diesel.

Corroborating this, a Professor of Economics at the University of Ibadan and President of the Nigerian Economics Society, Adeola Adenikinju, said, “The current price of PMS is being subsidised by the government. The government buys at higher rates and sells to us at subsidised rates. That is what they call under-recovery.”

The International Monetary Fund recently warned the Nigerian government to remove what it called implicit fuel and electricity subsidies.

In a report published recently by the IMF, the organisation told Nigeria that the subsidies would guzzle three per cent of the nation’s Gross Domestic Product in 2024 as against one per cent in the year before.

President Bola Tinubu declared the removal of fuel subsidies during his inauguration on May 29, 2023.

IMF noted, however, that “adequate compensatory measures for the poor were not scaled up promptly and subsequently paused over corruption concerns. Capping pump prices below cost reintroduced implicit subsidies by end-2023 to help Nigerians cope with high inflation and exchange rate depreciation.”

However, the NNPC and the Federal Government have vehemently denied subsidising the current price of PMS

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AA Zaura foundation partners Ulamas to addressing political thuggery, drug abuse in Kano

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The Kano Central Senatorial candidate of All Progressives Congress (APC) in 2023 election, Abdulkarim Abdulsalam Zaura has appealed to Muslims’ clerics to preach against rising level of drug abuse, thuggery and criminalities in Kano.

Addressing the Ulamas, on Saturday in Kano, the founder of AA Zaura foundation, highlighted the role of Islamic scholars in the society thereby, sought their support in the areas of counselling.

Zaura who recently met with leaders of rival political thugs, hunters and vigilants groups to end needless attacks, criminalities, expressed commitment to offering opportunities for rehabilitation of drug abusers in Kano.

He explained that as agent of social consciousness and guidance, religious leaders are being engaged to support the foundation to instil renewed moral behavior in the youth.

” In continuation of this project and campaign against drug abuse, political thuggery, and criminalities in Kano, we believed the Ulamas have a very important role to play in tackling this issue. They are the voice of the people, they are the voice of God, and they have many different ways of counselling people.

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“Don’t forget, one Ulama or one Imam can change a lot of people. So, they are part of this project, they are stakeholders in this project. We are looking for a different way to connect to the people. We need them understand the project and mission. We had critical discussion and they agreed to work out possible ways to end thuggery and drug abuse in Kano.

Zaura, who contested Kano Central Senatorial district under the platform of All Progressives Congress (APC) during 2023 general election stressed the mission of the foundation was to bring about meaningful growth deviod of political affiliation.

He expressed readiness to collaborate with concerned authorities including state government and security agencies to rid Kano of drug abuse and criminal tendencies.

“Of course, like I said last week. This is the type of project that I take responsibility. I am not putting any exception. The government or private entity or any person that feel like rescuing Kano is free to join us. This is not a political fight and it does not belong to Zaura alone. It is a responsibility, a big work to do and I can’t alone do istop”

” I am a politician and in my years of politics I have never encouraged people taken drugs. Politicians given thugs any form of drugs to fight their opponents should be discouraged. Some of these thugs are graduates. So why would politician will give them drugs while keeping their own children abroad.
It has to stop”. Zaura noted.

Worried by increasing incidences of societal unrest in Kano, Islamic clerics have resolved to jointly find workable solution to addressing menace of criminal tendencies in the state.

Besides, the religious leaders and other stakeholders equally appealed to concern authorities to mitigate root cause of criminalities, and enable means to transform youthful energy to productive.

In their separate positions, the Islamic scholars also cautioned government to look into rampant cases of drug abuse among married women and ladies calling for proactive measures to block access to Kano.

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Nasarawa Gov, Others, Woo Dangote At Trade Fair

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Governor Abdullahi Sule of Nasarawa State has urged Dangote Industries Limited to consider investing in more sectors of the State economy.

The Governor who was speaking at the ongoing Nasarawa Trade Fair Exhibition said Nasarawa is home to solid mineral resources, adding that the strategic partnership between the duo will speed up Nigeria’s industrialization project.

Representing the Governor, Hon. Muhammed Sani Otto, Nasarawa State’s Commissioner for Trade, Industry, and Investment, commended the Dangote Group for its outstanding performance at the Nasarawa Sugar Company Limited (NSCL).

He expressed confidence that, given this success, the company would be a valuable partner in exploring additional investment opportunities within the state.

In his remarks at the Dangote Special Day, Chairman of the Nigeria Association of Small-Scale Industrialists (NASSI), Nasarawa State Chapter, Nidan Sambo Manasseh, said the Trade Fair which was sponsored by the Dangote Group has been very impactful.

The Chairman advised Dangote Group to scale up its investments in the State by considering other sectors.

He added: “The Nasarawa Trade Fair Exhibition (NASTFE) is a vital catalyst for the State’s economic transformation. This strategic initiative by NASSI directly aligns with Governor Abdullahi Alhaji Sule’s vision to stimulate investment and unlock significant growth.”
The Permanent Secretary, Ministry of Trade, Industry and Investment Hajiya Khadija Oshafu Nuhu said the state is strategically open for business, and that Dangote Group can be part of the compelling opportunities abound in the state.

A statement from the Dangote Group’s Chief Branding and Communication Officer, Anthony Chiejina, said: “Nasarawa State is central to our overall investment in Nigeria. It is home to Dangote’s Nasarawa Sugar Company Limited (NSCL). The sugar project, when completed, will be one of the biggest sugar investments on the African continent.”

The statement quoted the Senior Special Adviser to the Dangote Group’s President, Fatima Wali Abdurrahman, as saying that: “We are not taking this partnership for granted. Our Strategic Business Units (SBUs) are participating.

According to her, some of the Strategic Business Units that are participating from the Dangote Group are: Dangote Fertilser Limited (DFL), Dangote Peugeot Automobiles Nigeria Limited (DPAN), Dangote SinoTruck, Dangote Sugar Refinery, Dangote Salt (NASCON) and Dangote Cement Plc.

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News Analysis: Between Governor Kabiru Gaya and Governor Rabiu Musa Kwankwaso—Who Established Kano State’s First University?

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Former Governor's Rabiu Musa Kwankwaso and Kabiru Ibrahim Gaya in a handshake :Photo Credit Baba Halilu Dantiye

 

By Abbas Yushau Yusuf

There has been debate in the online media space in Kano about the actual founder of Kano State’s first owned university, the Aliko Dangote University of Science and Technology.

During the aborted Third Republic, Alhaji Kabiru Ibrahim Gaya was sworn in as the Governor of Kano State in January 1992, succeeding Colonel Idris Garba, now retired Major General Idris Garba, as Governor of Kano State.

When Architect Kabiru Ibrahim Gaya became Governor, he hardly appeared at any public function without saying “Insha Allah,” which means “by Allah’s will”—a phrase every Muslim is encouraged to say before embarking on any earthly endeavor.

But keen political observers at the time understood that most of Governor Kabiru Gaya’s pronouncements on the eve of his inauguration were not fulfilled before the military takeover on 17 November 1993.

For example, on the day of his inauguration, Governor Kabiru Gaya told the Kano populace at the Racecourse that he was going to build a large stadium. Until he left Government House, that promise was never fulfilled.

He also promised to separate male and female passengers; at that time, the main means of transportation in Kano and its environs was the Hiace bus. That promise was also never implemented.

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Meanwhile, Kano’s neighboring state, the newly created Jigawa, under its young Governor, Ali Sa’adu Birnin Kudu—a protégé of Alhaji Sule Lamido—hit the ground running and executed several projects. These included establishing the first radio station in Jigawa, whose airwaves could be received in Kano, and the immediate construction of 1,000 houses called Gida Dubu in the Takur area of the state capital.

From then on, Kano people began referring to their governor with the slogan: “Insha Allahu na Kano, Aiki na Jigawa,” meaning, “The pronouncement of Allah’s will is in Kano, while the practical work is going on in Jigawa.”

Now, to the main subject: In 1992, with the proliferation of state-owned universities in the southern part of Nigeria, northern states began following suit. That year, Reverend Father Moses Adasu, the late Governor of Benue State during the same aborted Third Republic, secured a license to establish Benue State University—just as Governor Kabiru Gaya, ruling Kano under the platform of the National Republican Convention (NRC), secured a license from the National Universities Commission to establish Kano State’s first university.

Nigerian Tracker observed that, unlike Governor Kabiru Gaya of Kano, Reverend Father Moses Adasu, apart from securing the license for Benue State University, ensured that the institution began operations immediately, with structures put in place and academic activities kicking off.

 

Governor Kabiru Gaya also appointed its first Vice-Chancellor, a computer scientist, Malam Hafiz Wali, a Master’s degree holder, and sited its campus at Bagauda, now the Kano Law School. However, when Governor Kwankwaso assumed leadership of Kano in 1999, he changed the site to the present campus in Wudil because the Federal Government under Chief Olusegun Obasanjo wanted to build a Law School, and Governor Kwankwaso handed the Bagauda site over to the Federal Government for that purpose.

 

 

In contrast, for the Kano State University, apart from obtaining the license, nothing else was done until the military intervened and Governor Kabiru Gaya left office with only the license to his credit.

Nigerian Tracker reports that by the year 2001—eight years after Benue State University had already graduated many students—Kano State, under the leadership of Governor Rabiu Musa Kwankwaso in his first tenure, dusted off the license secured by Governor Kabiru Gaya, established structures, and ordered the immediate commencement of academic activities. Today, the institution has been in operation for 24 years, while Benue State University has operated for 33 years.

So, between Governor Kabiru Gaya and Governor Rabiu Musa Kwankwaso, who actually established Kano State’s first university?

 

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