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June 12: Lagos markets shut, traders express fears
Despite Lagos State Commissioner of Police, Hakeem Odumosu’s appeal to Lagos residents to disregard any sit-at-home order by activists, marketers in Ogba axis of Lagos, shut their stores Saturday over fear of violent clashes between protesters and security agencies. A trader who pleaded anonymity told newsmen he had been at his shop since 6:00am but couldn’t open his shop because he was scared protesters may attack him. “Saturday market is the best because you have more people who couldn’t visit the market during the week come to the market to shop for the week. But I can’t open because I don’t know what form the protest will take. All the markets in my shop were secured by loan” he said. As observed, the Area G Police Station was peaceful and calm with no baracade, but four patrol vans we...
DPR seals 16 filling stations over ‘irregularities’ in Adamawa
The Department of Petroleum Resources (DPR) has sealed off 16 petroleum stations over alleged irregularities in Adamawa. Sadiq Ibraheem, DPR Operation Controller in Adamawa, disclosed this to newsmen on Monday in Yola. He said that the exercise was conducted during the weekend as part of DPR’s routine surveillance. “We were able to inspect 43 filling stations in Jimeta, Yola, Numan and Maiha and out of which 16 were sealed for various offences. “The offences ranged from sales above official pump price, lack of safety facilities displayed and we discovered some stations were slightly under dispensing,” he said. According to him, the sealed stations have to pay certain fees to the Federal Government and rectify their pump price to official price before they could be allowed to operate. He ad...
Petrol pump price: DPR monitors Lagos filling stations
The Department of Petroleum Resources (DPR) says it has intensified surveillance of filling stations in Lagos State to ensure compliance with the approved pump price band for Premium Motor Spirit (PMS). Mr Ayorinde Cardoso, Zonal Operations Controller, DPR, Lagos, made this known after an inspection visit to some petrol stations located in Ikoyi, Victoria Island and Lekki areas of the state. Newsmen report that the Federal Government had on March 12 denied the increment of petrol to N212 per litre and had directed marketers to revert to the old price regime. Cardoso said the seven petrol stations inspected were selling fuel to customers between N162 to N165 per litre which was the approved price band. “This surveillance visit is part of our regular function and we are coming out today to c...
PDP advises federal government against increasing pump price of petrol
The Peoples Democratic Party (PDP) on Friday advised the Federal Government against increasing pump price of petrol. The party in a statement by its National Publicity Secretary, Mr Kola Ologbondiyan, in Abuja said any contemplation to increase pump price of petrol to N212 would worsen the economic and social situations of Nigerians. This was in reaction to a debunk report that the Petroleum Products Pricing Regulation Agency (PPPRA) on Thursday night released a template that a litre of fuel would now be sold for prices ranging from N209 to N212 per litre for March. Ologbondiyan said that the N212 per liter reportedly contemplated in the March pricing template was not in the best interest of Nigerians. “It is a barefaced fact that there is no way that Nigerians can survive such hike in fue...
IPMAN advises Nigerian to stop panic buying of petrol
AHA Taxis The Independent Petroleum Marketers Association of Nigeria (IPMAN) has advised Nigerians to stop panic buying and stocking of Premium Motor Spirit, popularly known as petrol. Alhaji Suleiman Yakubu, the National Public Relations Officer of IPMAN, gave the advice in an interview with newsmen on Sunday in Abuja. Yakubu fielded questions on the long fuel queues recorded at some filling stations in Abuja. He decried the panic purchases and long queues witnessed in various filling stations across the nation’s federal capital. Yakubu however said that crude oil price has gone up and it has affected the price products. He assured Nigerians that normal supply of petroleum products would soon be restored since loading have commenced at various deports. “We want to assure the buyers that g...
Food insecurity looming as prices of foodstuff skyrocket in Taraba
Prices of Food stuffs has gone up in Taraba state, finding revealed. It was noticed that the prices is increasing on weekly basis across the state. The post Food insecurity looming as prices of foodstuff skyrocket in Taraba appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
PPPRA: Forex, uncertainty responsible for lack of fuel import by marketers
The Petroleum Products Pricing Regulatory Agency, PPPRA, blamed foreign exchange challenges and prevailing uncertainty for the inability of oil marketers to resume fuel import. Addressing newsmen in Abuja, Executive Secretary of the PPPRA, Mr. Saidu Abdulkadir, explained that the Petroleum Products Marketing Company, PPMC, had been the one announcing the price of petrol over the last few months, because it was within its rights to do so, as one of the oil marketers and a major supplier of the commodity. Abdulkadir, who was represented by the General Manager, Administration, and Human Resources of the PPPRA, Mr. Victor Shidok, stated that because of the difficulties in accessing foreign exchange by oil marketers, the PPMC is currently the sole importer of the commodity into the country, and...
Oil marketers condemn planned protest, shutdown over fuel price hike
AHA Taxis Oil marketers, under the aegis of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), yesterday, kicked against attempts by some labour groups and trade associations to stage a protest march in opposition to the recent hike in the price of Premium Motor Spirit, also known as petrol. The Nigeria Labour Congress (NLC), United Labour Congress (ULC) and some other oil marketing groups had threatened to embark on a nationwide strike over the hike in petrol price, while they called on the government to revert to the previous price. In a statement in Abuja, National President of PETROAN, Dr. Billy Gillis-Harry, stated that while its members are not happy with the way certain things are in the downstream petroleum industry at the moment, they do not think any stree...
Marketers call for appropriate legislation on fuel subsidy removal
AHA Taxis Marketers are calling for appropriate legislation that will enforce the new fuel subsidy removal policy of the Federal Government. Speaking during a webinar on the downstream sector at the weekend, the Managing Director of 11 Plc, and Chairman of Major Oil Marketers Association of Nigeria (MOMAN), Adetunji Oyebanji, stated that there are some misconceptions that government has given permission to marketers to import premium motor spirit (PMS) otherwise called petrol. “There was never a time government stopped marketers from importing. It was the economics of it that made marketers stopped because it didn’t make sense to import products at a price that is higher than the government fixed price for the product at the pump. Gradually, all the players involved in importation stopped,...
Edo marketers defy petrol price reduction
AHA Taxis Independent petroleum Marketers within Benin metropolis in Edo, have continued to dispense petrol at N125 per litre in deference to the recently announced pump price of N108 per litre. It would be recalled that the Nigerian National Petroleum Corporation (NNPC) on Wednesday announced a reduction in the ex-depot price of petrol to N108 per litre This was the second time the NNPC has dropped the price of petrol after its first reduction on March 19, 2020, to N125. However, investigation shows that filling stations across Benin, the capital city of Edo, still maintained their old pump price of N125 per litre. Speaking in separate interviews on Saturday, motorists lamented that five days after the directive, all the filling stations, including the NNPC Mega station, had refused to ad...
Understanding the strength of small businesses
The number of small businesses keeps growing in the formal and informal sectors of the Nigerian economy, due to the role of small businesses as the live-wire of any economy and the backbone of major developed economies the world over. Though Nigeria rely majorly on oil and revenues derived from it, from context observation the economy is largely supported by small businesses covering almost all spheres of activities within the country, ranging from Nano, kiosk, and Micro businesses most importantly. A visible reference usually includes the vulcanizers, corner shop owners, single retail marketers, repairers, painters, business center operators, restaurants, market women, and men in the various open markets, among others. and the formal operations such as the law firms, accounting firms, con...