₦airaland Forum

[size=15pt]Our correspondents learnt that the four suspects – Michael Loko, 19; Oluwatomi Obosi, 19; Francis Cyprian, 19; and Olatoye Semiu, 18 – were nabbed by the Special Anti-Robbery Squad, Ikeja, on Tuesday.[/size]

MaziOmenuko:
Pump it back into the econony

DLuciano:
why wont you read? I read and many others did too

adeyemi2015:
Then what can you say of some filling Stations selling below N145 per Litre?!
No wonder the Post has no Source - it's credibility is questionable!

Ain't the filling Stations selling below N145 not affected by the economy situation?! But, just in case the news is true FG shouldn't consent to their Request, to avoid public uproar that might end the administration!

Fuel marketers in the country have called for the removal of the cap on the pump price of fuel.
They said yesterday that the N145 per litre ceiling was unsustainable in view of the falling value of the naira against the U.S dollar.

The marketers expressed support over the decision reached at a gathering of former Group Managing Directors of the Nigerian National Petroleum Corporation (NNPC) on the removal of the price cap on petrol in the country in Abuja on Saturday.

NNPC’s present and past GMDs, as well as the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, at the end of their one-day meeting noted that the N145 per litre fuel price did not reflect the price-determining components of the commodity and the fluctuations of the foreign exchange rate.
Sources close to the major oil marketers association told our correspondents yesterday that they were yet to start importing fuel since the fuel price had been pegged at N145/litre.

They said current exchange rate of the naira to the dollar made it difficult for importers to import fuel and sell at N145 per litre.
The sources added that the marketers were, however, not suggesting that the pump price should go up.
According to a source, “The skyrocketing exchange rate in the country makes it impossible for marketers to import and sell fuel at the price cap of N145 per litre.”

Executive Secretary of Depot and Petroleum Products Marketers Association of Nigeria (DAPPMA), Mr.Femi Adewole, told our correspondent that his members had to source the product from the NNPC because they could not access forex to import it.
He wondered why the price of fuel in the country had not been re-modulated since last May when it was fixed for N145 per litre against the N280 exchange rate to a dollar then.

A member of the Independent Petroleum Marketers Association of Nigeria (IPMAN) Press Committee, Barrister Dibu Aderibigbe, said marketers had warned at the inception that fixing a cap price for PMS would not solve the problem.
“And now what we have said is coming to reality,” Aderigbigbe said.
“The official rate today is about N315 or so. So, from N200 to N315/dollar and if we have to recover cost, can we still continue to sell at N145? I think it is simple based on the forex crisis unless there is a magic maybe they want to start giving importers special rate at N200/dollar and you don’t run economy that way,” he added.

The meeting of the forum on Saturday expressed reservations about the ceiling placed on the price at which the Pipelines and Products Marketing Company, an NNPC subsidiary, sells premium motor spirit to marketers.

The meeting which reviewed the status of the corporation and the nation’s oil & gas Industry, observed that the current ceiling on price of PMS was not in conformity with the liberalisation policy of the government and current realities in the foreign exchange market.

The forum however noted, “That the PMS price cap of N145/litre is not congruent with the liberalization policy especially with the foreign exchange rate and other price determining components such as crude cost, Nigerian Ports Authority (NPA) charges etc remaining uncapped.”
The forum advised that the existing refineries be rejuvenated using the Original Equipment Manufacturers (OEMs). It also said that the refineries must be restructured to operate as an incorporated joint ventures (IJV) similar to the Nigerian Liquefied Natural Gas (NLNG) model with the participation of credible partners with requisite technical and financial capabilities.
The meeting commended “NNPC for resolving the fuel supply crisis but urged the corporation to ensure sustenance of seamless supply of petroleum products nationwide.”
It advised that funding of JV Operations should be the first line charge to oil revenue to ensure sustainable production and reserve growth.
Earlier at the meeting, the GMD, Dr. Maikanti Kacalla Baru, had presented his 12 Business Focus Areas towards putting the corporation on the path of growth and profitability before the forum went into the brainstorming session on the declining production level and its attendant consequences on the environment and the nation’s revenue.
The forum reviewed the security challenges threatening Oil & Gas production and damaging the Niger Delta environment and urged the government to engage the various host communities as well as established social and traditional structures to develop an actionable partnership framework toward finding a lasting solution to the present unrest.

The Department of State Services (DSS) yesterday said it had smashed several kidnap gangs and terrorist elements in recent operations across the country.
A statement from an official of DSS, Tony Opuiyo, said on August 22, one Samuel Asuquo, a kidnap kingpin, was arrested at Nasarawa Bakoko village in Cross River State.

He said Asuquo was the mastermind of the kidnap of three Australian staff of Lafarge Cement Company, for which his gang received a ransom of N150million.
He added that on August 30, Bamaiyi Mustapha, Aminu Isa and Hassan Shehu, members of a kidnap gang operating around the Abuja-Kaduna axis, were arrested in Lafia, Nasarawa State.

Opuiyo said the gang had earlier kidnapped five Igbo women and collected N13million as ransom, noting that they were arrested while planning a high profile kidnap in Abuja.

Opuiyo said the service also carried out another operation at Tamburawa village along Kano-Zaria Expressway, Kano State, where Alhassan Musa and Ado Yusuf, members of a kidnap/armed robbery syndicate operating from Falgore forest in Doguwa LGA, Kano State, were apprehended.

He also said in response to the regrouping of Boko Haram elements in Kano State, the service in concert with the military, apprehended two high profile members of the sect: Ibrahim Ustaz Abubakar and Idris Audu.
He said Audu is an IED specialist, who “had already perfected plans to seek recruitment into the Nigerian Army before his arrest.”

He also said on August 26, two kidnappers, armed robbers and assassins – Moses Achia and Fanen Igbetar were arrested at Kperlegba Village in Katsina-Ala Local Government Area of Benue State.

He said one AK-47 rifle, five fully loaded AK-47 magazines, 150 rounds of live ammunition and one pistol loaded with 15 rounds of live ammunition were recovered from them.
He said on September 3, a kidnap gang terrorizing states in the South-east was busted by the service at Aba in Abia State.

The gang masterminded kidnapping incidents, including the abduction of Uche Ikonne, an American citizen.

He also said the service had arrested one Abbas Mohammed at Asokoro, Abuja, after sending several threat messages to the Ukranian Ambassador to Nigeria.

Opuiyo further said one Izuagie Mohammed was arrested in Benin City, Edo State on 24th August, 2016, for impersonating the Accountant General of the Federation.
He said Mohammed had already defrauded members of the public posing as the Nigerian AGF on Facebook and promising them Central Bank of Nigeria (CBN) empowerment loans.

He said on August 28,Taiye Alade and Ajoke Kolawole were also arrested at Fabian Hotel, Ado-Ekiti, Ekiti State.
The duo allegedly cloned the GSM number of the Group Managing Director of the Nigerian National Petroleum Corporation, and were using it to defraud his associates.

Opuiyo said one Mike Ewugbara, an alleged child trafficker, was arrested at Okigwe, Imo State on August 26, adding that three kidnapped children were rescued from his hideout, including one Miracle who was abducted in Benue State.

Kyase:
So true.
He criticise without hate.
And not a tribal bigot like some.
Doesn't insult the president.
That yeye BeeBee0oh been no dey insult but this days e don join them.
Hope e get rope hang himself.

luvinhubby:
Area fada is a wailer.

asuo27:
I just modified my post, now you can quote me.

asuo27:
They should give out the baby

metalDETECTED:
Afonja and senseless evil be like ... (affix Zuma here)

Daplux4:
Obj is the worst thing that happened to PDP his leadership and his controversy destroyed PDP in the past he is a deceiver a hypocrisy who went to PDP convention to force his way but when he found out the door is not open he decide to talk rubbish at a

Eluwilussit:
He's not an honest man. Very unstable. Very vindictive. Though he has some other qualities I like.

Eluwilussit:
U dey mind the ungrateful hypocrite. He's the architect of our present problem. He conscripted Yar 'Adua and Jonathan, and jumped ship at the last moment.