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We won’t fix petrol prices again – NMDPRA

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Faruk Ahmad

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will no longer fix prices or release templates for Premium Motor Spirit (PMS).

Authority Chief Executive (ACE), Mr Farouk Ahmed, who said this at a news conference in Abuja on Friday, said that market forces would henceforth dictate prices under the liberalised market.

“As far as we are concerned in the NMDPRA, this is not like before when the PPPRA fixes the price; in a deregulated market, it is the market force that dictates the price,” he said.

The News Agency of Nigeria (NAN) reports that the development was sequel to the removal of subsidy on PMS known as petrol.

President Bola Tinubu had in his inaugural speech on Monday said fuel subsidy regime had ended with the commencement of his administration.

Nigeria’s Dangote Refinery Will Transform our Downstream Sector, Says Ghana Petroleum Authority

Ahmed, however, said the market was now open for everybody that would import as far as they met all the requirements.

“So, it is not about the Nigerian National Petroleum Company Limited (NNPC Ltd) alone.

“We put the regulation in place, we make sure quality control is complied with, we make sure the product is there and we give licence to prospective importer.

“We make sure we guide the operations of everyone in the sector whether at the depot or wherever the product is but we will not put a cap to say this is what the price must be,” he said.

According to Ahmed, the role of the NNPC is to fix prices of the petrol it imported and not take over the responsibilities of the Authority.

“In the case of the NNPC, the organisation is the sole importer at this point. We told the NNPC to recover its costs because they know how much it cost them to import the product and sell it.

“Of course, we also know how much shipping, offshore, ex-depot and ex-pump are. But we cannot tell them to sell at a price because the market is deregulated,” he added.

The NMDPRA boss also disclosed that the Federal Government has officially scrapped petroleum equalisation as well as the national transport allowance.

He said the NMDPRA, the federal government and Consumer Protection Commission (FCCPC) would mount aggressive monitoring of activities in the downstream sector to prevent profiteering by petroleum marketers.

Ahmed further disclosed that marketers are now free to source their foreign exchange anywhere around the world to import petroleum products and recover their costs without impediments.

On where the importers will source their forex from, Ahmed said the CBN would not give dollar to anyone because of open market, adding that anyone willing to import should get the dollars from anywhere to import.

According to him, anyone willing to open a letter of credit from any part of the world can do that to import.

“That marketers can source their forex from anywhere is the beauty of the liberalised market that the NMDPRA has introduced based on the provision of the law”.

Ahmed said that the market would henceforth be modulated to allow the fluidity of prices, adding that though no template spelt out the pricing components of petrol price.

He said that, “based on this, the price would no longer be static rather depend on the international price of the gasoline market.

“This did not imply that marketers could sell at any price”.

According to him, the NMDPRA and FCCPC will collaborate to curb excesses if certain prices were way above the expected profit margin.

“The market structure will dictate the price swings at every point in time,” he said.

Ahmed cautioned against optimism for cheap petroleum products, saying products may not be cheaper because the company would be buying crude oil at the international price.

“Dangote Refinery is a game changer in terms of accessibility. By the time the NNPC refineries and other modular refineries across the country come on stream, Nigeria will be a net exporter of petroleum products,” he said. (NAN

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KANSIEC Affirms Conduct Of LG Election On Saturday

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Prof Sani Lawal Malumfashi KANSIEC Chairman addressing the Press on Friday

 

The Kano State Independent Electoral Commission (KANSIEC) has confirmed that the local government elections will proceed as scheduled on Saturday, October 26th.

This announcement was made by the chairman of the commission, Professor Sani Lawal Malumfashi, during a press briefing at the commission’s headquarters in Kano.

Professor Malumfashi stated that the decision to conduct the election followed a state high court order that granted the commission the right to proceed. “On behalf of KANSIEC, I am welcoming you. You have been informed, and you are informing others. We have followed the regulations. The supreme court rules that we should follow. Is democracy like this?” he remarked, emphasizing the commission’s adherence to legal protocols.

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He further explained that when the commission was appointed, they were given a grace period before being sworn in. “Kano State High Court has affirmed our right to conduct the elections. We are going to do the elections,” Professor Malumfashi asserted.

The chairman also listed the political parties that will participate in the elections, including Action Alliance, ZLP, ACCORD, AAC, NRM, and NNPP. He urged electoral officials to ensure they arrive early at their respective polling stations to facilitate a smooth electoral process.

 

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ASSOMEG Condoles with Sanusi Bature Over Loss of Son

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The Association of Online Media Guild (ASSOMEG) extends its deepest condolences to Mr. Sanusi Bature, Director General, Media and Publicity to the Kano State Governor, over the heartbreaking loss of his beloved son, who passed away on Thursday at the young age of 15.

This tragic loss is felt by all of us within the media community, and we share in the sorrow and grief that the family is enduring during this difficult time.

Mr. Sanusi Bature has been an invaluable partner and advocate in the media space, and our thoughts and prayers are with him, his family, and his loved ones.

On behalf of all our members, ASSOMEG stands in solidarity with Mr. Bature and his family.

We pray that they find the strength to bear this irreplaceable loss, and we trust that Almighty Allah (SWT) will provide solace and peace to his family in this trying period.

Signed,

Abdullateef Abubakar Jos
Interim Chairman

Abbas Yushau Yusuf
Interim Secretary

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Group Accuses Federal High Court Judge of Disrespecting Religion and Culture of Kano People

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A civil society group, Citizens for Development and Education (CDE), in collaboration with the Organization for Community and Civic Engagement (OCCEN) and Citizens Voice Against Corruption, has accused Federal High Court Judge Justice Simon Amobeda of disrespecting the culture and tradition of the people of Kano.

Ambassador Waiya made the accusation during a press conference in Kano due to judgments the judge has been issuing against the people of the state.

Waiya said the judiciary is being used to truncate democracy, and it is unfortunate that Justice Amobeda has ruled against the state’s independent electoral commission, banning it from conducting local government elections despite the Supreme Court’s ruling that all states must conduct elections before the end of October.

He said some elements in Kano are taking advantage of the situation to truncate democracy and are using Justice Simon Amobeda for their own purposes.

Waiya said that through Amobeda, the federal judge based in Kano is frustrating the government’s efforts to conduct elections in the name of opposition. He added that the government, which came into power in 2023, is battling with the judiciary, and development plans in the state are being frustrated.

Waiya said that 11 days ago, a high court judge tried to prevent the elections from being conducted.

He further said that the group is peace advocates and promoters and raised an alarm that the judge is going to deliver a judgment against the state electoral body on Friday, preventing it from conducting elections. He said the judge decided to withhold his judgment today to conflict with an expected favorable judgment of the state high court for the state electoral body.

The group cautioned the judge that he would be held responsible for anything that happens in Kano.

We will not allow one single person to jeopardize the peace of 20 million people,” Waiya said. “We are not comfortable with what Justice Simon Amobeda is doing. Is there no competent judge to handle cases like this? We are not personally against Justice Amobeda but we are against his attitudes. We are ready to confront him.”

The group said that if the Chief Judge of the Federal High Court refuses to transfer Simon Amobeda from Kano, it is high time that President Bola Tinubu knows that he has ambitions in 2027 and allows the rule of law to prevail in Kano. If he refuses, he should forget.

Waiya said that the judge sat and delivered a judgment on an Islamic holiday without respecting the culture and religion of the people of the state.

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