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The Executive Secretary of Petroleum Product Pricing and Regulatory Authority, Senator Farouk Ahmed, said on Tuesday that the fuel scarcity currently being experienced across the nation was caused by the two rounds of devaluation carried out by the Central Bank of Nigeria between November last year and February 2015. The disclosure came just as officials of the Nigeria National Petroleum Corporation, and heads of some subsidiaries under it failed to appear before the Senate Committee on Petroleum ( Downstream) to defend their 2015 budget. Chairman of the Committee, Senator Magnus Abe , lamented that by their action, they had deprived Nigerians an opportunity to know reasons behind the current fuel scarcity and possible way out. But Ahmed, told the committee that the devaluation caused huge confusion in the oil sector as the petroleum agency did not know the exchange rate to be used for payment on fuel importation. He said the marketers could not deliver the cargoes of fuel expected from them because they were not sure of the exact delivery cost as a result of the devaluation, adding that the old template used for paying the marketers was no longer useful. Ahmed said PPPRA had to seek the advice of the CBN before it could eventually draw up a new template. He, however, stressed that the crisis had eventually been resolved as the Budget Office on Monday approved payment for outstanding bills that the marketers are being owed. He also said the truce was brokered after a meeting of the Ministry of Finance, PPPRA and other relevant agencies. Ahmed said, “The recent events have to do with delay in the arrival of cargoes. Non-arrival of cargoes made it difficult for petroleum motor spirit to be delivered. What actually complicated it was the devaluation of naira – two times. “The first one that took place on November 28 devalued Naira from N155 to N168 to $1. The second one that took place on February 18 brought the exchange rate to N199 to $1. “These two developments brought a lot of confusion into the oil sector. “Marketers were not sure of the actual delivery cost. We had to draw a new template as advised by the CBN. The delay we have now is caused by the November devaluation. But the reality is that the policy is clear now. “The Minister of Finance, PPPRA and other agencies are working closely to ensure that outstanding bills are paid. And that one had been done now. “Yesterday, (Monday) we got an approval from the Budget Office for payment of all outstanding bills. We have adjusted the template now. We have to put the exchange rate at the interbank rate. Now, we have a direction” Meanwhile, the non appearance of the the NNPC management to appear before the committee to give its own side of the fuel scarcity story, had prompted the committee chairman, to read a riot act to the corporation. Abe said, “We invited NNPC to come and defend their budget. They didn’t show up. They don’t even have the respect to give any response to the invitation. We are directing the clerk to re-invite the NNPC, Department of Petroleum Resources, Pipeline Product and Marketing Company and all refineries. “All of them must appear before this committee on Thursday. All of us have our roles in constitution. The letter should contain a a strong warning that NNPC must never repeat this before the committee. “NNPC has never agreed to bring their budget for discussion. This is the same problem we have every year. I’m disappointed that after we agreed on this issue last year, we are still back to it. Source. http://www.punchng.com/news/naira-devaluation-causing-fuel-scarcity-ppra/ |
dre11:GMB is 4G,GMB rocks,change is here. |
The Management of the Nigerian National Petroleum Corporation on Monday began fresh measures to halt what it described as artificially-induced petrol scarcity noticeable in some parts of the country. To this end, the corporation said it planned to import more than one billion litres of petrol in March to address the short fall in supply TheNews Agency of Nigeriareports that the Group Managing Director, NNPC, Dr Joseph Dawha, in conjunction with the Chief Executive Officers of the NNPC subsidiaries, began detailed monitoring of fuel stations in Abuja. Others in the exercise were the Executive Secretary of the Petroleum Products Pricing and Regulatory Agency, Mr Farouk Ahmed, and the Managing Director of Pipeline Products Marketing Company, Mr Haruna Momoh, Also in the team was the Director of Department of Petroleum Resources, Mr George Osahon. Dawha said the exercise was to checkmate hoarding and panic buying of petrol, particularly in Abuja, Lagos and its environs. The GMD said there was enough petrol in the nation’s stock to take care of the need of motorists. He said as the supplier of last resort, the corporation was doing everything within its mandate to alleviate the avoidable hardship caused by the situation. The Executive Secretary, PPPRA, said the problem was more of artificial because there were enough products. He said, “The problem we have is not really with the supply because there is enough supply . “The PPMC has almost more than 800,000 metric tones that will be arriving in the month of March which is over a billion litres in terms of our daily consumption. “Other marketers are also bringing in their cargo so by the end of the week, hopefully, everything will be clear. “I think we should just encourage the people to desist from panic buying; things are going to be very okay. Source. http://www.punchng.com/news/nnpc-to-tackle-fuel-scarcity-with-one-billion-litre-import/ |
Hurry hurry moves to deceive our people,five years jonathan ruled Nigeria he did not remember the second niger bridge,he did not remember innoson and so on,(scam on Igbos) Every messiah needs a forerunner,BUHARI is the forerunner,vote for him. |
kennyjodeci:Her name is Abike Dabiri,am in love with her,she's just like Dora Akunyili. |
Meringe:na our inlaw,na bianca him bleep, |
ilugunboy:If u ask me ooo,i think u ought to be the one to shut up,dont u think so? |
[quote author=Charpell post=31171301]It's evil and a blessing in disguise. The devaluation of naira will cause increase in nos of foreign investors into the country [/quote Oga how?pls tell us ooo,we no go school na. |
sexyattorney:You re the first to comment rubbish this morning,your mother must be proud of you. |
Tallesty1:As in she was walking, hit her leg on a stone, fell on erect dick, the dick erupted out of surprise and she got pregnant? Girls and lies eeeh, Guy u no go kill someone with laughter ooo,this is klint style. |
This missing money can give us nothing less that 20,000 megawatts of electricity,that ll permanently solve the power issue for life,the president is pretending to be serious on power issue when all he's doing is playing game for second term.if jonathan is re-elected the power issue ll remain this way until 2019 and some gullible Nigerians ll still tell u that he means well but the people around him ll not allow him. Nigerians pls do the needful,vote right,vote for BUHARI. |
Kingofdevils:After going through the post the only u thing can comment is APC is boko haram?oh sorry,i forgot,that's what u were paid for,respond to any tread with APC is boko haram or GEJ till 2099 abi? |
aguiyi:Mr analyst,you re a big disgrace,anyway keep deceiving urself and the few GEJ till 2099 people.goat. |
ozoigbondu:Are u sure you read the post? |
thinkdip:Its either you ignorant or u ve been bought,this issue of boko haram ll not end here,that a govt that swore to protect the integrity,lives and properties of its citizens allowed so many lives to be wasted for only God know what reasons.boko haram that cannot stand the Nigerian Army for a week chased them around for five yrs,when a new Govt takes over,then all the intelligence report that are being sat on ll be made open.even if u can't think can't u open ur eyes?God bless Naija. |
luvinhubby:What's special about Nigeria,giant of africa that cannot defeat bokoharam of 10,000 boys assembled in one location,with a dead economy.niger,chad and cameroon are the big brothers now bro.you re living in the past.don't even compare south Africa with naija cuz those people means business. |
What they gave koro to give him did not get to him,he has been angry since then but now that oga at the top took the pain to personally deliver the parcel to him can't you see that story have changed? |
That's politics for you,am Igbo and am supporting GMB,i hv my reason for that,my brothers and sister are supporting GEJ,wetin i go do na?synonymous to champions league and premiership.game of interest. |
Agent of doom,is this the best Igbo can offer?na your family need interim govt not Nigeria. Come to think of it,na person papa be this? |
Agent of doom,is this the best Igbo can offer?na your family need interim govt not Nigeria |
Congrats to our gallant soldiers,until somebody was elected in 2011 u were the best in Africa,i believe u re still the best,keep up the good work so that we can marchforbuhari come march 28,God bless Nigeria. |
okosodo:This is a small thing for Nigerian army to do if not that GEJ hv been playing politics with it, Nigerian army can turn sambisa forest to sambisa desert in 30 minutes. |
Election must hold ooo,lets do it once and have peace of mind. |
The card reader is the latest innovation into Nigeria’s electoral process and was introduced to minimise rigging of the voters register. The card reader, is an input device that reads the data in a medium or card, in this case, the Permanent Voter Card, PVC to the purpose of verifying if the data in the card corresponds with the data captured by INEC during the registration exercise of eligible voters. The introduction of the card reader has sparked controversy with the two major parties, the Peoples Democratic Party, PDP and the All Progressives Congress, APC taking opposite positions on the issue. The PDP is demanding that the card reader be discarded with some of its officials alleging that it is unworkable. The APC on the other hand, is demanding for the strict use of the device on the premise that it is the best antidote to the rigging of the voters roll. How INEC’s reader works •Card reader After inputting the PVC into the card reader, if it is genuine, the picture of the owner would pop up to affirm that the card is genuine. The next step is to confirm if the presenter of the card is the owner of the card. He or she is now expected to match his fingers on the card reader to show if the finger print would match the original biometric data captured during the registration exercise. If it matches, then the person is passed on to vote. “If the finger print of the person agrees with the finger print on the imbedded chip and it will say ‘Verified’ and that means the person is free to go and vote. If it does not belong to the person, the response would be ‘Not Verified’ and it says it loud for everybody to hear. If it says that, party agents are there, observers are there, voters are there and an INEC staff says go and vote or not and everybody keeps quiet,” Mr. Kayode Idowu, chief press secretary to the INEC chairman told Vanguard. Mr. Idowu affirmed that the adoption of the card reader has significantly minimised rigging of the electoral roll. According to him it would take conspiracy of all human elements at the polling unit to enable a wrong person to vote as the card reader would audibly pronounce the eligibility or otherwise of a potential voter. “The way INEC has designed the Card Reader, it will only take a community conspiracy for the system to be manipulated and if that happens there is nothing anybody can do about it and it will not be the fault of INEC because it is designed in such a way that it is unique. Number one it has a voice prompt which will speak out loudly from the speaker if a voter is accredited or not the moment the finger print is placed on it.” http://www.vanguardngr.com/2015/02/inecs-card-reader-the-game-changer/ |
On December 31, 1983, Nigerians woke up to the sound of martial music on their radio and television sets. They knew a coup had taken place. Then at 5.00 in the morning, the throaty voice of one Brigadier Sani Abacha came on air informing Nigerians of the shenanigans that characterized the Alhaji Shehu Usman Aliyu Shagari civilian government. With the deftness of a would-be suitor, the Army Office, claiming to be speaking on behalf of his other colleagues in the Armed Forces, itemized the reasons why he and his colleagues had decided to shove the corrupt politicians aside. All the reasons he gave for the coup were known to Nigerians but lamentably, he failed to disclose how he and his colleagues would solve the Problems. Majority of Nigerians were not taken aback by the sacking of the politicians by the military. Their fall was good riddance. Its demise was not a question of how and why but when. As the late American Civil Rights leader Dr. Martin Luther-King Jr. once said: “There comes a time when the people are fed up and want it no more.” Nigerians got to that stage in 1983 under the “lootocaratic” regime of Alhaji Shehu Shagari, to use the words of Chinweizu,Vanguardnewspaper Columnist. Albeit, corruption has become endemic in Nigeria but the political rascals under Alhaji Shagari legitimized this national cankerworm. It became a “de rigueur.”No Nigerian would have raised eyebrows or shed tears if the military boys that came to power had seized those political vermin of the so-called Second Republic, tied them to stakes and execute them. It was that bad. They had stolen too much for the owners of the house to notice and they flaunted their stolen wealth with obscenity and abandon. But as events started to unfold, the military brass hats soon discovered the gargantuan problems especially the battered economy they inherited from the thieving politicians. They soon found out it was easier to topple a government than to govern a nation. Their subsequent policies such as War Against Indiscipline called WAI, queue culture, mandatory monthly Environmental Sanitation to clean households and cities including other peripheral programs could easily be decreed by wearing military epaulette but you can’t command a prostrate economy neither can you decree jobs for able-bodied striplings roaming Nigerian streets. There were a potpourri rainbow coalition of forces both within the disenchanted civil populace and the opportunistic Nigerian military which all combined to ensure the demise of the corrupt Shehu Shagari regime and the success of the 1983 putsch. Situated within the dynamics of coup planning in Nigeria, the planer of the 1983coup d’état did not emerge as the Head of State. With the exception of late Major-General Tunde Idiagbon, General Muhammadu Buhari who emerged as Head of State was not one of the planers of the coup. The brain behind that coup was late Brigadier Bako who was killed by Alhaji Shehu Shagari’s Presidential Guard in Abuja. If he had survived, Brigadier Bako would probably have emerged Head of State. Others who joined in the coup were the late General Mamman Jiya Vasta, late Brigadier Sani Abacha, General Muhammed Magoro in that order. General Buhari became Head of State because he was the most senior military officer at that time. He came in as a compromised candidate to replace Brigadier Bako, the mastermind and architect of the coup. Even then, there was so much rancor and bitterness at the meeting called to deliberate on Brigadier Bako’s replacement. When Gen. Sani Abacha, then a Brigadier and General Officer Commanding (G.O.C) Mechanized Brigade, Ibadan read his coup text at 5:00am on December 31, 1983; an unidentified voice came on air at 12noon or thereabout that day to announce to Nigerians that the new Head of State would address the nation at nine o’clock that evening,. The voice was that of Major-General (then Brigadier) Tunde Idiagbon. During this period, no person had been chosen as Head of State. The putschists were undecided on who should step into late Bako’s shoes. While a faction favored Gen. Buhari, the other faction opposed him and the whole place became so charged that at a mild drama took place. A Colonel pulled out his pistol and threatened the coup plotters that if Gen. Buhari was not made the new Head of State, none of them gathered at the meeting would come out alive. He was even more livid when a Brigadier mentioned the name of Major-General Ibrahim Babangida as the new Head of State. That Colonel was Col. Mustapha Jokolo, who later became Buhari’s aide-de-camp and now the Emir of Gwandu after the death of his father late Alhaji Rasheed Jokolo. A plane was then dispatched to Jos, Plateau State to fetch Gen. Buhari and he was made Head of State. He could not address the nation at nine a previously announced so a statement was hurriedly put together for him to address his fellow country men and women at 10:00pm that day. Thus began the Muhammad Buhari-Tunde Idiagbon military regime. http://www.pointblanknews.com/authbioofabiola8.html
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Some men in the FCT on Tuesday said they preferred to stopover at drinking joints before going home to their families and loved ones to ease off tension. The men, who spoke to newsmen in Abuja said that apart from easing off tension, they also stopover at drinking joints to avoid unnecessary squabbles with their wives. They said that the need to be with friends also contributed to their going to drinking joints, apart from trying to avoid disturbances from their children. Mr Samuel Olaedo, a business man at Wuse market said he preferred to stopover at beer parlor to drink and watch football to ease off tension before going home. “I recall an incident that happened some time ago, my wife asked me to buy a separate television for her to avoid her disturbance during football match.“I told her I have no money for that now, since she comes back home before me she will start watching her soap operas; she will hide the remote control from me. “When I return home and try to change the station from the decoder, we will start arguing which will result to insults,’’ he said. Olaedo said that he now preferred going straight to his bed to sleep even when he returned home late just to avoid the wife’s disturbance. Mr Ferdinand Lucas, a welder who usually visited Cachez Garden, Wuse told pressmen that he stopped over at the garden to relax with a bottle of beer before going home to avoid arguments with his wife. “I recall when we newly got married, my wife used to be very humble and caring but now it is the opposite. “My wife complains on every issue and sometimes I don’t even know how to handle or manage her. “In one of the occasions when I got home, she started complaining over the children’s school fees which I already promised to settle at the end of the month,’’ he said. Lucas said that he wished he was still single to avoid the usual ranting from his wife, even when he came home late. A male boutique operator, who spoke on the condition anonymity, said the desire to take care of his girlfriend keeps him out in a garden every day. According to him, the wife who is very boring was incapable of making the home interesting for him. “My girlfriend is a very interesting person and she makes me very happy; that is why I spend more time her than with my wife. “My wife doesn’t make the home interesting she is always busy chatting with her friends on phone and leaving me to myself but my girlfriend gives me attention and notices everything that bothers me,’’ he said. He further said that he might decide to be married to the girlfriend if the wife did not change. http://www.vanguardngr.com/2015/02/stop-beer-parlours-abuja-men/
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There are indications that petrol marketers are out to inflict hardship on Nigerians by hoarding the product six weeks to the general elections. This may not be unconnected with the apparent cold war between marketers and the management of the Petroleum Products Pricing Regulatory Agency, PPPRA. Some of the marketers had accused the PPPRA of corruption and lack of transparency by removing the pricing template on its website against international best practices established by Platts and other organisations that publish oil prices. WhenVanguardvisited Forte Oil Filling Station at Abule Ado area of Lagos, long queues of buyers were seen waiting for the product, while the attendants were reluctant to attend to them. Similar scenario played out at the Oando Station at Festac Town where the product was not sold. Also, at the Forte Oil Station opposite Berger Yard, sales were made from only one point, with the attendants creating the impression that the product is scarce. When contacted, one of the male attendants who chose to be anonymous toldVanguardthat they are not sure of the next supply which they have been waiting for in the last two days. While the Forte Oil Station at Second Rainbow Bus Stop, close to Mile 2 remained close, the Fatgbems Station had long queues, while dispensing petrol from two out of the six pumps. A male attendant, who refused to identify himself, said they had orders to sell only from two pumps. Recall that some of the marketers had accused PPPRA of dragging the country back to the “dark days of unbridled corruption in the payment of subsidy to marketers.” “The prices of products are not supposed to be official secret if PPPRA has nothing to hide. The International Air Transport Association, IATA, publishes Jet Fuel Monitor, showing the price of jet fuel worldwide. The Jet Fuel Price provides the latest price data from Platts, showing the global average price. “Platts also publishes oil prices, which are available on subscription. But our own PPPRA, which is saddled with the responsibility of managing PSF established with public fund, is hiding the prices of petroleum products from Nigerians. Subsidy is paid with taxpayer’s money, so why are they hiding the price of products and how the money is administered? They want to create an avenue for corruption to thrive,” said one of the marketers, who pleaded anonymity. Calls put to Mr. Lanre Oladele, Head, Public Affairs of PPPRA for his reaction was not returned, and neither did he reply the text message sent also to him. http://www.vanguardngr.com/2015/02/petrol-marketers-induce-fuel-scarcity/ |
The presidential candidate of the All Progressives Congress (APC), General Muhammadu Buhari last Wednesday drew questions from CNN International Correspondent, Christine Amanpour on a number of issues relating to his aspiration and his record as military head of state. Excerpts: WHat is your reaction to the delay in the elections by six weeks, and President Goodluck Jonathan’s promise that the military will make inroad in the area of security of the North-East in six weeks? My reaction is that of disappointment because the presentation made by the Independent National Electoral Commission (INEC) was that they were ready to conduct the elections on the dates they fixed a year ago, and for them to be forced virtually by the military, which said that they cannot guarantee the safety of INEC staff, which made the commission to concede to the demand of additional six weeks… But since six weeks is within the time stipulated by the constitution, we had to advise our supporters to remain calm, resolute and obey the law. You are a former military general, and you ruled the country briefly. Why is it that the Nigerian military, today, cannot take on Boko Haram, and has failed to combat that terrorist organization? The issue was made much clear when the National Assembly attempted to conduct a hearing after soldiers sent to the front without proper weapons were granting interviews to the foreign media. Competent leadership The National Assembly attempted to conduct a hearing by getting the budgets approved by it in the last three years and inviting the service chiefs to come and explain why weapons were not procured and sent to the soldiers under competent leadership, but the hearing was scuttled. This shows misapplication or misappropriation of resources and funds provided by the government, and also explains why the Nigerian military was unable to defeat Boko Haram. You recently got a huge endorsement from a former ally of President Jonathan; that is former President Olusegun Obasanjo. How do you react to that and what will that do to your campaign? It will certainly bring more supporters to us and more confidence again to us from those who were sitting on the fence before now (especially) because General Obasanjo is highly respected as far as the Nigerian nation is concerned. There is no serious issue that can be discussed without people seeking for his opinion and listening to it. The headlines around the world are that the Nigerian presidential election is a contest between a failed president and former dictator, and you are the former dictator according to these headlines. Some people say that you expelled 700,000 migrants years back, thinking that it would create jobs; that you banned political meetings and free speech; that you detained thousands of people; set up secret tribunals; executed people for crimes that were not capital offences. Have you changed, or are these what the Nigerian people should look forward to if you win the election? All those things you mentioned with a degree of accuracy were what actually happened but they were under a military administration. When the military under my leadership came on board, we suspended those aspects of the constitution that we felt would make it difficult for us to operate under the circumstance we found ourselves. But I think I would be judged harshly as an individual by what happened during that military administration, or to extend what happened under a military administration to a democratic system. Now that you say that you are a democrat, what do you think you can do to combat Boko Haram and the galloping corruption in your country? We know how Boko Haram started. Certainly the Nigerian military has built a reputation for effectiveness, but it is a great embarrassment to the country that the military has not been able to secure Nigeria’s territory, losing 14 out of 774 local governments. Equipment and training I believe that it will not be difficult for an APC government to deal with Boko Haram because we know that the Nigerian military is competent. What we will do is to make sure the funds voted for equipment and training are properly utilized. On corruption, there are complains by many people in your country over massive corruption. Can you face up against that? Are you committed to rooting out corruption? We have to because there are serious citizens of our country who say that “unless Nigeria kills corruption, corruption will kill Nigeria.” And this was best illustrated by the hearings conducted by the National Assembly on the pension fund, power sector and petroleum industry, on which the country depends on for about 90 per cent of its external revenue. The National Assembly conducted the hearings here in Abuja and the six-geo-political zones of the country. They sent their recommendations to the executive but they have been there collecting dust in the last 18 months. http://www.vanguardngr.com/2015/02/cannot-compare-military-rule-democracy-buhari/ |
nzeobi:Why?cuz GEJ is in power?all this na gra gra,no one can rule naija by force.abacha tried it,where is he today. |
First it was low collection of pvc,then insurgency,later it became pvc (people should be allowed to use tvc so that they can rig),they later said jega had meeting with apc in dubai,another story was that minors were registered,now its card reader. Somebody knows he cannot win a free and fair election so they re doing everything possible to scuttle the election process. My poll forecast:GMB 80% OF TOTAL VOTE.GEJ 27 % OF TOTAL VOTE CASTED. By the power vested on me as the ,i hereby declare GMB as the winner of the 2015 presidential election.My people pls click like for GMB and share for GEJ. |

,i hereby declare GMB as the winner of the 2015 presidential election.