₦airaland Forum

Tallesty1:
In his house bro

dominique:
3-0

Garri, one of Nigeria’s most consumed staples, has hit an all-time high in Jos, Plateau State capital.

The commodity, which used to be one of the most affordable for Nigerian households, is now being sold at N1,100 per measure and N72,000 per 100kg bag.

Some persons Daily Trust spoke with during visit to markets said the commodity has reached its highest point in decades.

Sellers of the Gari at the Katako market explained why price of the community has hit historic high in recent time.

Hassan Maigari, one of the sellers, said, “There are a lot of factors contributing to the hike in the price of the commodity. One is the high demand for garri at the moment because a lot people have resorted to it as substitutes to other varieties of foods that are more expensive. I have been in this business for the past 30 years and I have never experienced this kind of price surge. Today, I sold a bag of 100kg at N72,000.”

Abdullahi Ibrahim, another Garri seller said, “Those who sell the product to us in the farms also contribute to the price hike because processors are deliberately delaying processing the product in order to sell at a higher price, which often results in a surge in demand. That’s why when people say other prices have gone down, therefore, Gari prices should also be reduced, we try to explain to them because they don’t understand the challenges we’re facing.”

The sellers of the product further said the price may increase even higher because it is not yet deep into the rainy season when prices usually surge.

Schools have just resumed and farmers are expected go back to their farms soon.

GanagiBitrus:
...while all the 3teams that were promoted to EPL this season will be relegated.

In4matic:
Sad

iwaeda:
https://www.vanguardngr.com/2024/05/customs-increases-fx-rate-for-import-duties-to-n1441/

After three months of bootless committee meetings in the comfort of air-conditioned offices at the cost of one billion naira (President Bola Tinubu approved 500 million naira to “start with… first”) and about a month after the expiration of the last minimum wage approved in 2019, the Tinubu government has not been able to approve a new minimum wage for Nigerian workers even when it wastes no time to approve policies that inflict maximum suffering on poor people.

On May 1, I woke up here in Atlanta to the news of an increase in the minimum wage of workers, which would be backdated to January 1st. Although it’s the legal thing to do, I was impressed nonetheless, not only because I’ve significantly scaled back my expectations about what the government can do but also because I know most Nigerian workers could use the relief that the increase and the arrears would bring.

So, I started looking for the exact amount of the new minimum. I scouted social media platforms and news websites. I had no luck.

It turned out that I was mistaken. The national minimum wage has not been increased even though the current one expired on April 17, which is frankly untenably criminal.

All that had happened, I later learned, was that the federal government had approved an increase of between 25 per cent and 35 per cent in the salaries of certain civil servants, according to the National Salaries, Incomes and Wages Commission (NSIWC).

“They include Consolidated Public Service Salary Structure (CONPSS), Consolidated Research and Allied Institutions Salary Structure (CONRAISS) and Consolidated Police Salary Structure (CONPOSS),” NSIWC’s spokesman by the name of Emmanuel Njoku said in a statement on April 30. “Others are: Consolidated Para-military Salary Structure (CONPASS), Consolidated Intelligence Community Salary Structure (CONICCS) and Consolidated Armed Forces Salary Structure (CONAFSS). The increases will take effect from January 1.”

That’s some impenetrable mumbo jumbo for those of us who are not civil servants or who are not tutored in the tortured, tortuous ways of the civil service. It’s obvious, though, that this is not the new minimum wage.

A 25 percent increase on the existing minimum wage, that is, 30,000 naira, would amount to a mere additional 7,500 naira, and a 35 percent increase is a mere additional 10,500 naira. That’s lower than Edo State’s new minimum wage of 70,000 naira.

This is both exasperating and unconscionable, especially given that this government, since its inception, has understood its role as consisting of merely conceiving, initiating, and implementing policies that squeeze the hope and life out of poor and middle-class folks.

The originative signal of the intensity of the hardheartedness of this government came from the precipitate, ill-conceived, thoroughly unjustified announcement of the removal of petrol subsidies on President Tinubu’s inaugural day.

He followed this up with the disastrous “floating” of the naira, which wiped out trillions from the economy, hemorrhaged existing foreign investments, and made nonsense of the pittance workers collected as salaries.

Not done, the government chose to hike tariffs on electricity (that’s barely there to start with) to amounts that regular people can’t afford. Fairly regular electricity will now become the exclusive privilege of people and companies that can pay extortionate amounts for it. This will, of course, exacerbate the existing cost-push inflation in the economy that was ignited by the removal of petrol subsidies.

Now life has become an unwinnable daily war for most people as a result of these policies. But President Tinubu brags that these life-sucking policies represent “courage.” By that, it is obvious he meant that these policies are so soulless, so callous, so predatory that normal people would violently revolt against them but that he damned that prospect and did what he did anyway.

He should be lucky that his predecessor, Muhammadu Buhari, laid the foundation for the current mystifying docility of Nigerians, for the emergent national culture of toleration of injustice without a fight, and for the absolute death of critically collective democratic citizenship.

As I pointed out in a previous column, preying on vulnerable members of society who have lost the will to resist injustice is no courage. It’s moral cowardice. And there’s no better example of the deceit and cowardice of the government than its inability or unwillingness to implement a basic minimum wage for workers after realizing trillions of naira from the removal of petrol subsidies (which has devalued the worth of the existing minimum wage by several folds).

The government has never ever needed a committee to implement policies that hurt the poor and the middle class. All it usually needs is Tinubu’s cowardly and preposterous presidential “courage.”

It only needs committees—which sit for extended periods because every sitting is a money-making venture—when any issues concern giving just a little welfare to beleaguered workers. Although the government is obligated by law to conduct nationwide public hearings as a precursor to increasing electricity tariffs, according to Femi Falana, the government chose not to be distracted by such pesky legalities in its haste to do what it seems to love to do best: make poor citizens squirm in torment and cry.

Accountable and socially responsible governments all over the world preoccupy their minds with finding ways to assuage the existential injuries that life episodically throws at citizens. But like the Buhari regime that preceded the current government, there appears to be a single-minded obsession by people in government with making life more miserable than it already is for everyday folks every day.

It seems to me that this government’s reason for being is to inflict pain and misery on Nigerians. It is what gives it its highs and delectations.

I get the sense that the strategists and tacticians of the government spend their time brainstorming on the next sadistic agony to visit on Nigerians. When they are out of ideas, they might choose to remove subsidies on the air Nigerians breathe, the land Nigerians walk on, and even the saliva Nigerians gulp.

By the end of this month, the Tinubu government will be one year old. Can it honestly point to a single thing it has done that has brought even a smidgeon of relief to our people, that has given ordinary people a reason to smile?

In less than one year, the Tinubu government has built a public image as a government that invests all its energy and resources into devising ways to hurt the people and to being a passive, unresisting servant of the IMF and the World.

We know that historically the IMF has always been opposed to increases in minimum wages. Last year, for instance, the International Monetary Fund (IMF) warned that the planned minimum wage increases in many countries in Central, Eastern, and South-Eastern Europe (CEE) should be stopped because the “increases will result in more persistent inflation or lower employment, especially given relatively weak productivity growth in the region."

The IMF always encourages, even compels, governments in Third Word countries to totally remove all subsidies that benefit the poor but warns them against increasing minimum wages.

Could the reluctance by the Tinubu government to increase the minimum wage of workers be inspired by its fear of the IMF, its lord and savior? I don’t know, but it’s worth exploring.

Well, as I pointed out in a previous column, Nigeria’s elite have a personal incentive to obey the IMF. The increased financial burden that IMF’s policies impose on poor Nigerians helps to keep them in check and renders them more docile and controllable. The poorer people are the less strength they tend to have to resist oppression and the more likely they are to be esurient for crumps from their oppressors.

So, governance by sadism is rooted in the desire to keep the vast majority of the people dirt poor, miserable, ignorant, and therefore more manipulatable.

Islie:
• Supply situation to improve next week – Marketers

• Motorists pay N800 and above for litre of PMS




https://thenationonlineng.net/petrol-scarcity-how-seven-trapped-vessels-are-prolonging-crisis/

helinues:
The empowerment been done by this government is consumption bah?

Why was some of our borders closed for years? For more importation?

There are several factors that determine the exchange rate, demands and supply is one of the major factor

PressMyButton:
This olodo is confused, today, he'd bring the official rate, tommorrow, he'd bring the parrallel rate, depending on what suits his narratives. Whenever naira gains, he would run under his bed, you won't see him open thread.

ForValour:
Are we to sell or keep our dollars?

The naira traded at a loss at the official market, depreciating to N1,402 against the United States dollar on Thursday.

According to data from the FMDQ exchange securities, the naira dropped by N12 or 0.86 per cent from the N1,390 recorded at the close of trading activity on Tuesday.

There was no trading activity on Wednesday due to the Worker’s Day celebration.

At the Nigerian Autonomous Foreign Exchange Market, the intraday high closed at N1,445 on Thursday weaker than N1,450 on Tuesday. The intraday low also depreciated to N1,299 on Thursday as against N1,200 on Tuesday.

Dollars supply at NAFEX appreciated by 3.1 per cent or $7m to $232 on Thursday from $225.36m recorded on Tuesday.

The naira had depreciated following a renews demand for the greenback at both the official and parallel market.

Based on data from the FMDQ official trading platform, the naira gained N28.15 on the final trading day of April, settling at N1,390.96/$ as against N1,419/$ on April 29.

The positive trend was also reflected in trading volumes, with a 52.45 per cent surge in forex turnover, reaching $225.36m, up from the prior volume of $147.83m.

Similarly, Bureau De Change operators said the naira recorded a reduction in value at the parallel market on Thursday.

Abubakar Yahu, a BDC operator in Wuse 2, Abuja, said traders bought the dollar at N1,310 and sold at N1,360 leaving a profit margin of N50.

He said the dollar was rising marginally due to constant demand but not at the same rate when the naira slid to N1,900 two months ago.

He said, “The naira depreciated today. We sell at N1,360 per dollar and we buy from customers at N1,310 depending on how you bargain. But we are expecting that the rate will drop tomorrow. Demand is still coming, it is not like before but it is still high.”

Another currency trader, Ibrahim Isa, in Ikeja, Lagos, confirmed the rate while reiterating that the government must stabilise the naira for a long period.

“The market is moving slightly but it will be better if we can stay on a particular amount and stabilise the economy.”

BUSINESSARENAA:
This is really outrageous. Just went to Abiot Filling Station Addo Road, Ajah to get fuel and to my shock, they are selling #950 per litre.

What is really going on in this country.

The scarcity of premium motor spirit (PMS), commonly referred to as petrol, has persisted nationwide, giving rise to the proliferation of black marketers who sell the product at prices as high as N1,200 per litre in some locations.

Findings by Daily Trust from across the country showed that many filling stations did not open, while there were long queues at those dispensing the product.

This is happening despite the assurance by the Nigerian National Petroleum Company Limited (NNPCL) that it had addressed the hitches that caused the latest round of the products’ scarcity.

Our reporters who monitored the situation observed that many of the stations within the Federal Capital Territory (FCT) and in several states have also increased their prices, selling petrol at between N750 and N800 per litre.

However, NNPCL petrol outlets were dispensing at N617 per litre though there were longer queues therein.

Motorists were seen stranded, with some residents resorting to trekking long distances across various parts of the country surveyed by our reporters.


Jigawa

As many stations in Dutse, the Jigawa State capital were shut, while black marketers were seen selling the product for N1,100 per litre.

Many residents said they had abandoned their vehicles and resorted to trekking.

FCT

There was loa ng queue at NIPCO filling station in Bwari, a suburb of the FCT. A commercial driver, Yusuf Kassim, said: “Most of the filling stations are not selling. Even the ones selling have long queues.”

Our reporters observed that the AA Rano, RainOil and Shema petrol stations in Jabi were selling petrol at between N680 to N690 per litre, but there were very long queues.

Lagos

In some parts of Ikeja, dispatch riders were distributing fuel to black marketers . At Maryland, inwards Ikeja under bridge axis, only Northwest and Total filling stations were dispensing; while the NNPC station there was closed. Black marketers around the area were selling five litres for N5,500.

Most of the filling stations visited in Alimosho, Ojo and Badagry local government areas of Lagos State were locked, while there were long queues at stations dispensing the product.

Drivers accused station owners of hoarding the product and said they had to park their vehicles as they could not cope with the price hike.

The situation left scores of residents stranded at various bus stops.

Depots out of stock – Marketers

The Chairman of the Independent Petroleum Marketers’ Association of Nigeria (IPMAN) in Ejigbo, Lagos, Akinrinade Akinade, said most depots in Lagos were out of stock.

“I believe it is a general problem as most depots have run out of stock. Speaking of IPMAN, we don’t have fuel anywhere. We don’t have anywhere to load.

“If there is no stock, there is no stock. If there is stock, people will load. I don’t think it is because of any plan to reduce prices,” he stated.

We’re not in short supply-NNPCL

When contacted yesterday for comment, the spokesman of the NNPCL, Femi Soneye, said: “Nothing has changed from the statement I sent out on Thursday (27th April, 2024). If there are disruptions in fuel distribution for two to three days, it typically takes double that time to return to normal.

“It should clear up shortly. One significant aspect is that we have product availability”, he said.

Kano

Some petrol stations in Kano sold the product for as much as N950 per litre, while those selling for N860 witnessed long queues.

At Alfatashir Filling Station along the Kano-Zaria Road, black marketers buying in gallons were competing with vehicle owners on queues.

Aliko Petrol Station, AA Rano and Conoil on Kano-Zaria Road, as well as Azman filling station on Court Road did not open yesterday.

Some black marketers in Kano metropolis were seen selling a four liter of petrol for N5,000.

Many commuters were stranded as very few commercial vehicles and tricycles were on the roads.

Ogun

Transport fares were increased in Abeokuta as drivers complained of getting petrol at an exorbitant price. Many commuters were seen stranded along the major routes in the state capital.

Many stations in the state did not open, while there were long queues where the product was being sold even for as much as N760 per litre. But the NNPC outlets visited by our reporter were selling for N580 per litre.

Ondo

Taxi drivers in Akure, the Ondo State capital, yesterday increased their fares by 30 percent as the scarcity of petrol hit harder.

While many stations did not dispense the product, those selling in places like Igbakara Oke, Oke Aro, Ijoka and Oba Ile were selling for N800 per litre.

A driver, Akingbule Adeoye, said the development was becoming tough for him as a transporter plying between Akure and Ikare Akoko.

The Chairman of IPMAN, Ore Depot, Shina Amoo, told Daily Trust that the product was scarce as his members did not get it from the NNPCL.

He said IPMAN members resorted to buying the product from third parties at high prices.

He also said marketers shut down operations in the states owing to low or non-profit margins.

Plateau

In Jos, the capital of Plateau State, long queues were seen at few stations dispensing petrol yesterday as a litre was sold for N800.

Stations hike price to N1,200/litre in C/River

Elders and youths in Okuku and Ishibori communities in Ogoja Local Government Area of Cross River yesterday sealed petrol stations selling the product for N1,200. This followed a protest by commercial motorcyclists.

But station owners told our correspondent that the unavailability of the product forced them to increase the price.

Ekiti

Many residents of Ekiti State trekked yesterday as drivers parked their vehicles owing to the scarcity of petrol.

Few stations that opened for business sold the product above N800 per litre.

The Chairman of the Petroleum Taskforce in the state, Odunayo Arinka, said many filling stations had run out of stock.

Kwara

In Ilorin, the Kwara State capital, many filling stations were locked, while those in operation sold at N760 per litre. Stations visited by our reporter are those located at Tanke, Amilegbe, Saboline, Opo Malu, Taiwo, New-Yidi roads and Offa Garage Olunlade.

The situation has seen transport fares increased along many routes. Many motorists and other commercial drivers were stranded.

Fuel scarcity is biting harder in the ancient city of Kano as most of the petroleum stations have been shut down.

Vanguard checks observed long queues in few filing stations still dispensing the product in the state capital.

It was observed that independent marketers and some major marketers who were seen selling fuel sell it as high as between N850 – N900 per litre.

Even the filling stations selling the fuel is doing so amidst crowd and rowdy atmosphere.

A motorist, Mustapha described the situation as unfortunate, especially that the petroleum product cost high but yet unavailable.

“The last fuel in my car was bought N680 per liter some weeks back only for me to go back to buy another fuel and was told N850. And the unfortunate thing was it almost got to my turn on the queue when it finished. The situation is unfortunate, especially that the petroleum product cost high but yet unavailable.

“I had no option than to buy from the black marketers at the cost of N1,200 per liter,” he stated.

Meanwhile, black marketers have taken advantage of situation to make brisk business as they sale a liter at N1,200.