The Nigeria Customs Joint Border Patrol Team Sector 2 (JBPT) Southwest Zone, Lagos, has smashed a trans-border ring which specialised in smuggling petroleum products and other prohibited items worth over N1.3billion.
Fifteen suspected notorious smugglers, findings have shown, were also arrested in connection with the seizures, based on the order given by the Comptroller-General of the service, Adewale Adeniyi, it was learnt.
Two suspected human trafficking agents, who violated Immigration laws, it was gathered, had also been handed over to the Nigeria Immigration Service for further investigation and necessary prosecution.
The team also intercepted 4,019 30 litres kegs of petroleum products at various border points in the zone.
Addressing reporters in Lagos yesterday, the Coordinator of the team, M S Shuaibu disclosed that his team has all the South Western states of the country as its area of responsibility which makes it a tedious exercise, based on the rigorous terrain and the hostile nature characterised with border communities around their area of coverage.
“While the Federal Government is committed to ensuring the availability of Premium Motor Spirit (PMS) to the citizenry, it is disheartening to know that some notorious smugglers are bent on smuggling the products to neighbouring countries for their selfish gain. These groups of unpatriotic citizens will have us to contend with, as the Sector has deployed intelligence to apprehend offenders,” he said.
The quantity of the petroleum product seized by the team, Shuaibu said, was about five trailer loads from the depot.
Customs officials, it was gathered, monitored the petrol smugglers from various filling stations around the border areas for one week, before the clampdown.
For Nigeria’s legion of activist/analysts, the past week must have been a particularly busy one. The subject, as anyone would imagine is the premium motor spirit aka petrol and the econometrics (or is it the economics?) of its delivery at the pump. For if most Nigerians had thought they have gained substantial understanding of the subsidy factor in the fuel price matrix, what the latest round of adjustment in the pump price has most certainly revealed, is in fact, the merely suppressed chasm between the government and the generality of the citizens.
Yes; it is not just that Nigerians are forced to reopen debate on the subsidy question much sooner than they could ever have imagined; the facts and figures being thrown around costs as indeed the conclusions said to have been derived therefrom for the most part of the past week can only be a measure of, not just the gross misunderstanding which subsists on the matter, but also a reflection of how deeply entrenched the illusions have remained.
So, it was when citizens first reported the resurgence of fuel queues across the country, some three weeks back. First, the denial, by the country’s sole petrol importer – the Nigerian National Petroleum Company Limited, (NNPCL) that the product was in short supply even when the facts clearly indicated the contrary. As usual, the initial line was that some logistical issues impeded the distribution and thence copious assurances that normalcy would soon return. Second, and because facts are such that could not be wished away like that, the days after will follow with the admission by the NNPCL that it was actually in the hole –and that the burden of $6 billion owed creditors for the supply of gasoline was not only choking but threatening to its survival as a going concern. Recall that the same NNPCL had earlier dismissed the report of indebted to international oil traders to the tune of $6.8 billion, which the report has stated was responsible for non-remittance to the Federation Account. Recall also that the same NNPCL had, even way back still, denied payment of subsidies on petrol when the reality of under-recovery was also reported. If I may recall, Nasir El Rufai, the former governor it was who first stirred the hornet’s nest when he declared some time ago in Maiduguri: “The Federal Government is now subsidising fuel; many people don’t know this. It is the right policy. I have always supported the withdrawal of oil subsidies; but in the course of implementing the policy, the government realised that subsidy has to be back; right now, the government is paying a lot of money for subsidy, even more than before.
“You start implementing a policy because you are sure it is the right policy, but in the course of implementation, you come across bottlenecks, and you modify.
“The keyword in leadership, in my view, is pragmatism. You should be pragmatic. So when you make a policy, you start implementing it and it doesn’t seem to work well. You should have the humility to stand back and say this is not working, and you modify it,” the former governor had stated at the time.
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri had responded at the time thus: “I don’t want to delve into that issue. It is a very sensitive issue. It is better we get all the facts. As far as I’m concerned, the president removed the subsidy and it remains removed till today. Anybody who is saying that subsidy is being paid, it is left for the person to bring the facts and then we will talk about them.” Questioned further on whether the fuel pump price for petrol at that point was market reflective, the minister had replied, “It may not be determined by market forces but let us deal with the price as it is today”.
Well, the wheels have finally turned full cycle; that day, which the minister had hoped could tarry, seems to have arrived sooner than expected. Last week, the NNNPCL moved the price from N568 to between N855 to N897, for a litre of petrol, depending on location, in what signals the clearest indication of where the government is headed.
As always, the arguments have remained essentially the same. Unfortunately, it is not, as has long become popular, about the price of a litre of petrol in Nigeria being among the cheapest in the world – even if true; or the other equally wearisome argument about the huge price differentials between us and our ECOWAS neighbours as a major incentive to trans-border smuggling – also a valid argument to make. We also hold to be true, the argument about another petrol price hike – occasioning another spiral of inflation – even if the latter is more or often than not driven by mob instinct considering that the price of diesel on which the haulage industry actually depends has long been deregulated.
The main argument is simply whether it makes a rational sense to sell a product at a price far less the cost of producing it simply because the product is petrol. This, to yours truly, is where the issue has thus far, been poorly, if not improperly joined! For while I am willing to indulge the sentiments of those who locate the problem in the inability of the nation to refine crude for its domestic needs, it ought to be obvious by now that the old assumptions about local refineries being the elixir to the subsidy conundrum has been hopelessly exaggerated. Need proof? Check out the prices of diesel and aviation – two essential fuels currently being produced by Dangote Refinery to see whether this myth is actually borne out. If anything, that myth would appear to have been finally shattered!
Surely, even without the odious mind games between the NNPCL and Dangote Refinery on whether the former should play the off-taker for the latter; or even the nauseating twists and turns and the bad faith that have accompanied their business relations. The question that must be begging for an answer at this point in time is the price of a litre of Dangote petrol; related to this is whether this price compares with the (Free on Board (FoB) value quoted on global platforms.
To yours truly, there is where the focus should be at the moment – as against the blatantly uneducated exertions of the tribe that have chosen to foreclose the possibility of the government ever making sense on the matter.
Here, Nigerians might be interested in finding out the reason(s) behind NNPCL’s sudden disinterest in playing the off-taker role for Dangote Refinery as announced by the company at the weekend. Will the company be open to taking the price deemed to be ‘under-recovery’ from Dangote Refinery? And who will bear the difference? Why despite the professed nationalist pretensions, the Dangote Refinery has chosen to keep its cards close to its chest; making clear its intention to move its products off-shore should things not go its way – price-wise?
Seems to me that the answers to these may yet be found in the mathematics of cost – which Nigerians love to loathe!
The group condemned the sudden hike in the price of Premium Motor Spirit (PMS), which increased from N617/litre to N897/litre.
In a statement signed by its Operational manager, Stanley Ugagbe, in Abuja, it rejected the hike and described it as a betrayal of public trust.
The group said with the increment, prices of things in the country will skyrocket and make things more difficult.
Ugagbe said evidence show the price was effected across board and independent filling stations have exacerbated the situation by selling petrol for between N950 and N1,000 per litre, with Abuja among hardest-hit areas.
It said it was shocked by Nigeria Labour Congress (NLC) statement about the hike and minimum wage.
“We are appalled by revelations from Nigeria Labour Congress (NLC) that this hike in fuel prices directly contradicts the understanding reached with the government regarding the N70,000 minimum wage,” he said.
The group added that it stands resolute in its condemnation of the fuel price hike and all other policies that continue to impoverish Nigerians.
“We will not rest until justice is served, and the rights and dignity of every Nigerian are upheld,” he said.
The Chairman of Integrated Oil and Gas Ltd., Capt. Emmanuel Iheanacho, has emphasised the indispensable role of depot owners in Nigeria’s fuel supply chain, particularly in the context of the recent delivery of Dangote Premium Motor Spirit (PMS).
Iheanacho, who is also a member of the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), clarified that petroleum products storage depots are a vital component of the fuel supply chain, complementing primary fuel sources.
He stressed that without these depots, other elements in the supply chain would struggle to deliver fuel to consumers.
“While there might be competitive elements in the market, collaboration and cooperation are essential for ensuring a stable fuel supply in Nigeria.
“Petroleum depots are not a replacement for primary fuel sources but are crucial for storing and distributing products to meet demand,”Iheanacho said.
He added that depots play an important role in distribution, particularly given Nigeria’s dispersed infrastructure.
Iheanacho also noted that while private depots may compete with the Nigerian National Petroleum Corporation Ltd. (NNPC) in terms of storage and distribution, they are not necessarily in direct competition with the NNPC or the Dangote Refinery.
“Instead, these depots often work in conjunction with both to support a reliable fuel supply chain.
“Private depots may compete with petroleum importers for market share by offering essential storage and distribution services.
“Ultimately, competition aims to balance market prices.
“However, depots are key partners in supporting the entire supply chain, including NNPC and Dangote,” he added.
Iheanacho concluded that depots provide critical storage and distribution support not only for NNPC and Dangote but also for petroleum importers, ensuring a more efficient and reliable fuel supply network.
Some residents of Kaduna State have decried the recent increase in price in fuel by the Nigerian National Petroleum Corporation Ltd. (NNPCL), lamenting that it would increase poverty among citizens.
Some of the residents, who spoke with the News Agency of Nigeria (NAN) in separate interviews said the increase had further put Nigerians into more hardship.
NAN reports that the NNPCL Retail Management had increased the pump price of Premium Motor Spirit(PMS) known as petrol from N617 to N897.
Mr Victor Isa, said that there was no fuel at the fuel stations in his area, a situation that made motorists resort to patronising black marketers who sell a litre at N1400 to 1700 depending on the seller.
He added that the few stations selling close to his area had long queues, with some selling and others not dispensing at all.
Isiah explained that the recent development would cause businesses to crash as the hike in petrol price would affect prices of goods leading to low production and patronage.
“With this increase, one thing is sure, the average lifespan of every individual would be around 30-40 years. Hunger strikes, starvation, people trekking long distances.
“The impact on transportation is beyond the moon. No more distance of 100 Naira with bike again. From the Kuciano Hotel axis to the Post-office Sabo that used to be 250 is now 500 ,” he said.
Another resident, Ibrahim Bala. said he had to park his car at home due to the hike in fuel price saying major marketers were selling at N950 with a long queue of vehicles waiting to buy.
According to him, the new fuel price would affect the prices of food items in markets as businessmen would have to spend more money in transporting their goods.
He said the average citizens who were hitherto living below the poverty line would face more challenges as transport fares and food prices would also shoot up.
On her part, Aisha Obodoeze , a business woman, said the development would force her to increase the price of her goods, adding she had to calculate the amount she spent on transport.
“It’s unfortunate that this is happening now with the current hardship being experienced where people hardly eat; petrol, a major determinant of people’s welfare, is on the rise.
“We can only pray to God to touch the hearts of our leaders so that they would make policies that would ease the hardship of the masses,”she said.
The expectation that queues at filling stations would dissipate after the sudden hike in petrol prices on Tuesday was dashed yesterday.
Across major cities such as Lagos, Abuja, Kaduna, Ibadan, Warri, Jos and Port Harcourt, motorists spent hours at stations waiting to buy petrol – which was unavailable in most places.
Commuters were stranded, many of them unable to leave the bus stops for their respective designations.
Surveys across major cities by The Nation showed that petrol was being sold for between N855 per litre and about N1,200.
The increase by the sole supplier of petrol triggered an immediate increase across other retail stations, with major oil marketers adding slight premium and independent oil marketers adding more than N100 to the NNPCL’s price.
From Lagos to Abuja, Warri, Kano, Jos, Nasarawa, Abeokuta and others, queues were long.
Our reporter observed that several filling stations were shut within the Warri and Effurun metropolis of Delta State yesterday morning.
The few that were open for business sold petrol above N1,000.
The development also affected interstate transporters.
At the popular Airport Junction, Effurun, the usual bustle at the transport lines was less.
It was learnt that most transport services could hardly get petrol to fuel their vehicles.
The commuters decried the incessant increase in petrol price and scarcity of the product.
“I bought petrol from the black market at N1,400. Some people sell at N1,500. This increase has affected fare prices and it is affecting our work, especially with the fact that we have to pay community levy every day.”
Motorists and commuters in Jos decried the hike in pump price.
The News Agency of Nigeria (NAN), correspondent who went around Jos observed that major and other marketers were dispensing the product between N970 and N1100.
While many fuel stations were without the product, NAN observed long queues at NNPCL Mega Station, Dogon Karfe, and NNPCL Station Mararaba Jamaa, as well as the Mobil Filling Station in Hwolshe, Jos.
The Organised Private Sector (OPS) reacted with caution, acknowledging the burden and unsustainability of the petrol subsidy, while noting the adverse effects of the hike in petrol price on consumers and the productive sector of the economy.
The Manufacturers Association of Nigeria (MAN), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Lagos Chamber of Commerce and Industry (LCCI) bemoaned the difficult situation of the gap between average cost and average retail price.
Director General of the Manufacturers Association of Nigeria (MAN), Segun Ajayi-Kadir, said with Nigeria susceptible to global crude oil shocks and Nigeria’s domestic refineries not working, it was understandable that the NNPCL would at some point adjust the pump price.
He noted, for instance, that globally, there is an increase in crude oil prices, and Nigeria’s refineries are not producing, leaving the country to import fuel.
“The increase in the cost of crude oil will have a direct impact on the cost of importing fuel into Nigeria and expectedly, the NNPCL would at some point, adjust domestic prices,” Ajayi-Kadir said.
According to him, manufacturing performance would be negatively impacted, while businesses may need to adjust their pricing strategies, which could lead to reduced profit margins if consumer demand weakens.
He added that small and medium enterprises (SMEs), which often operate on thin margins, could be particularly hard-hit.
Director General, Lagos Chamber of Commerce and Industry (LCCI), Dr Chinyere Almona, said the latest increase has reduced the shortfall between the landing cost and the former price level of N568 charged by NNPCL, noting that the burden of the shortfall accumulated to a debt of N10 trillion and thus, clearly unsustainable.
She, however, pointed out that completely removing subsidy would subject Nigerians to a significant fuel price hike amid significant economic challenges.
According to her, a steep price hike would likely trigger widespread price increases, potentially reversing the recent easing in inflation seen in July and leading to another surge in inflation rates.
She canvassed the need for balancing the need for fiscal responsibility with the economic impact on citizens.
“The impact on businesses will be severe, with fuel prices affecting supply and logistics, power generation, transportation, and factory operations.
“The cost of doing business will skyrocket, prices of goods will rise, and some firms may shut down due to low demand in the face of weakening consumer purchasing power this will be followed by job losses,” Almona said.
Hike faulted
NACCIMA National President, Dele Oye, said the Chamber understood the complex factors that can influence fuel prices, such as global oil market dynamics and exchange rate fluctuations.
Oye, in a statement, however, said the Chamber is troubled by the lack of prior notice and clear explanations provided by the government and the NNPCL regarding this development viz, the increase in the pump price of petrol to over N800 per litre at NNPCL filling stations across the country.
The NACCIMA chief described the timing of the price hike as “particularly concerning,” saying that it has the potential to further exacerbate the impact on businesses and consumers, especially the vulnerable segments of the population and those on fixed incomes, who are still adjusting to the recent increase in the national minimum wage.
NACCIMA called on the Federal Government and the NNPCL to engage in constructive dialogue with relevant stakeholders, including the OPS and labour unions to address the concerns raised about this price increase and its potential effects on the economy.
The Trade Union Congress of Nigeria (TUC) warned that the latest increase would worsen poverty among workers
The union said the sudden hike allegedly “implemented without consultation with critical stakeholders,” represented a blatant disregard for the welfare of the Nigerian people, particularly the working class who bear the brunt of such decisions.
In a statement by its President, Comrade Festus Osifo, the TUC urged the government to “immediately rescind these decisions, promote policies that will strengthen the naira and take decisive steps to alleviate the suffering of Nigerians.”
According to the statement, the Federal Government must “act swiftly to restore confidence and prevent further deterioration in the living conditions of its citizens.”
The statement said: “The disturbing news of the increase in PMS pump price all over the country has sent a wave of apprehension and depression across the length and breadth of the nation. This is in the wake of an already existing unprecedented hardship upon citizens.
“The Congress has long posited several strategies that should be activated towards improving the strength of the Naira and give value to every kobo spent by Nigerians as this is one of the root causes of all the economic woes we face as a country today. Yet much hasn’t been done about these recommendations.
“Congress stands with the working people of Nigeria who are struggling under the weight of rising inflation, a high cost of living, and a deficient work environment that fails to provide the basic standards of decency and dignity.
“The sudden hike in fuel and electricity costs will only exacerbate these challenges, leading to further hardship and potential social unrest.”
NBA urges Fed Govt to halt fuel price hike
The Nigerian Bar Association (NBA) urged the Federal Government to halt the implementation of the new pump price of petrol.
Its president Mazi Afam Osigwe (SAN) said while tough policies are needed, care must be taken not to exacerbate the hardship faced by citizens.
Osigwe, in a statement he signed, described the latest increase as “abrupt” adding that it came when Nigerians were grappling with inflation.
It reads: “The NBA expresses its profound concern and strong condemnation over the recent increase in the pump price of fuel by the NNPCL, which has risen sharply from 617 Naira to about N900.
“This significant and abrupt hike has imposed an unbearable burden on the already overstretched finances of ordinary Nigerians, further aggravating the economic challenges faced by millions across the country.
“The cascading effects of such a steep increase in fuel prices on the cost of living, transportation, and essential goods and services are deeply troubling.
“Many Nigerians are already grappling with inflation, unemployment, and other forms of hardship, and this additional financial strain is simply unsustainable.
“If allowed to persist, this price hike will only deepen the poverty and hardship experienced by the citizens.
“While the NBA acknowledges the necessity of economic reforms and recognises the government’s responsibility to make difficult decisions, these decisions must be made with the utmost consideration for their impact on the welfare of the citizens.
“The NBA views this sudden price hike as not only harsh but also unjustified at this time.
“In light of this, the NBA calls on the Federal Government to immediately halt the implementation of this policy and engage in meaningful dialogue with all relevant stakeholders, including civil society organisations, labour unions, and economic experts, to explore more sustainable and less punitive alternatives.
“We urge the government to prioritise the welfare of its citizens, particularly the most vulnerable, and to pursue policies that alleviate rather than exacerbate the hardships faced by the Nigerian people.”
‘NNPCL should not be sole off-taker’
Also yesterday, oil marketers and legal experts faulted the designation of NNPCL as the sole off-taker for petrol produced by Dangote Refinery.
They argued that NNPCL still enjoys being the sole importer of petrol while other stakeholders have struggled to secure the necessary foreign exchange to compete.
Therefore, a further extension of such privilege to the firm with regards to locally refined petrol, they fear, may be counterproductive to the system.
Independent Petroleum Marketers Association of Nigeria (IPMAN) Public Relations Officer, Chief Chinedu Ukadike, said the product should be made available to all marketers operating in the downstream sector.
“The arrangement between Dangote and NNPCL, which makes NNPC the sole off-taker, should be reconsidered.
“As major stakeholders and independent marketers, we believe Dangote should be allowed to sell directly to us.
“The distribution should be open so that other stakeholders can purchase the product, just like NNPC,” he said.
Ukadike contended that the NNPC is also a competitor in the downstream sector with other marketers.
This, he said, makes it wrong to give a single competitor exclusive access to Dangote Refinery petrol, while others remain dependent on a single source.
He believes the situation will lead to “monopoly, profiteering and stagnation in the distribution process.”
He called on the government to intervene, arguing that: “It is crucial that what is good for one is good for all.
“IPMAN should be allowed to obtain products directly because we can quickly distribute them, as we have a wide reach across the country and are reliable.”
Also, an association of oil and gas law experts, Lawyers in Energy Network, faulted the monopolistic distribution of Dangote Refinery petrol.
It urged the Federal Government to allow other players rather than only the NNPCL as the off-taker.
Lawyers in Energy Network, in a statement by its Executive Secretary Raqeebah Oloko, said though NNPCL as the sole off-taker may ensure consistency and stability of demand and sales while simplifying distribution complexities, the disadvantages may have far-reaching consequences for the Nigerian energy market.
The statement adds: “Dependence on a single buyer exposes both the Dangote Refinery and Nigerians to the risks of monopoly and absolute market control by the NNPCL.
“This move will also reduce the benefits of competition by stifling innovation, supply and pricing advantages in the Nigerian market.
“Should there be a change in policies or regulations affecting NNPCL, this would undoubtedly affect the petroleum market.
“We at Lawyers in Energy Network call out to the Nigerian government to break this monopoly and allow the free flow of purchase of fuel to all marketers in the country.
“This will give room for the principles of demand and supply to determine market prices and availability of the product.”
Also, an economist, Prof. Ndubuisi Ekekwe, believes more players should be allowed to distribute Dangote Refinery petrol.
In a post on his X handle @ndekekwe, he stated: “I posit that 40 per cent of ‘I need US dollars’ will disappear…(with local petrol production). In short, I was to put my near-term positioning of naira to be about N1,000/$ by December 2024.
“Unfortunately, I am unable to do that, because Dangote Refinery will not sell to independent operators of filling stations; the Nigerian government will be the sole buyer.
“With that structure, the promising optimal equilibrium shifts. Why do we need the government inserted in the process?
“Ideally, the more players you disintermediate, the better the pricing efficiency since every layer adds cost in the value chain.”
National President of IPMAN, Abubakar Maigandi, said the association would see how things unfold.
He said what is of more concern now is how to get the outstanding products its members paid for since June at the old rate.
“Our members who paid for the product since June and have not been supplied petrol by NNPCL until the new price kicked in on Tuesday.
“The NNPCL is now asking that we come to pay the differential on the product. It is not our fault that we were not given the supplies we paid for in June.
“We have over 3,000 tickets outstanding with the NNPCL and they are asking us to add N240 per litre, being the difference between the price at the time we paid for it and were not supplied and the new price which began on Tuesday,” Maigandi said.
In July 2023, an indigenous oil marketing firm, Emadeb Energy, invested over $17 million to import 27 million litres of petrol cargo.
Since then, no marketer other than NNPCL has been able to bring in PMS due to the foreign exchange rate which now stands at N1,625.83 to a dollar compared to N834 when Emadeb brought in the product.
Presidency, NLC clash over Ajaero’s claim on N70,000 minimum wage, fuel price adjustment
The Presidency and the Nigerian Labour Congress (NLC) yesterday clashed over the N70,000 minimum wage and adjustment in the pump price of fuel.
The Presidency dismissed claims by NLC President Joe Ajaero that President Bola Ahmed Tinubu betrayed labour leaders because of the increase in the petrol pump price.
Ajaero alleged that labour accepted the N70,000 national minimum wage based on an understanding that the pump price of PMS would not be increased.
However, reacting to Ajaero’s allegation, Senior Special Assistant to the President on Print Media, Abdulaziz Abdulaziz, on his verified X handle, @Abdulfagge, said he was in the last two meetings where President Tinubu met with Labour leaders, noting there was none where an offer was made in exchange of fuel price hike.
The Presidential spokesman described Ajaero’s claims as “dirty politics” aimed at manipulating the emotions of Nigerians.
But the NLC insisted that there was an agreement with President Tinubu not to increase the pump price of petrol.
In a statement by its Head of Information and Public Affairs, Benson Upah, the NLC said: “We find amusing the denial of Abdulaziz. We have since asked ourselves if he is suffering from selective amnesia or attention span deficit.
“However, not satisfied with his dubious denial, he elected to take a side dig at Comrade Joe Ajaero as ‘…once again playing his dirty politics with the emotions of Nigerians.’
“Whatever the matter is with Abdulaziz, we stand by our statement. And if Abdulaziz was at those meetings as he claimed, he should be courageous enough to let the world know whether the President gave the labour leaders one hour to meet and resolve to either accept and allow an increase or accept N62,000.”
The Lagos State Task force has raided Mile 2 Oke stretch of the Oshodi-Apapa Expressway.
The operation, which resulted in the confiscation of over 2,000 litres of petroleum products, is part of a broader strategy to address the environmental and security challenges plaguing the area.
Chairman of the task force, CSP Adetayo Akerele, said: “Among the most pressing issues addressed was the illegal sale of petrol and diesel by the roadside, where over 2,000 litres of petroleum products were seized. This is a highly dangerous practice that poses a significant risk of fire hazards and explosions. We will ensure that such activities that endanger the lives of these illegal merchants and other road users are brought to a complete halt.’’
The taskforce dismantled several illegal structures and cleared the area of street traders.
Four suspects were arrested, and numerous items were confiscated during the raid.
The chairman, who said he was carrying out the order of the state government, assured that those arrested would be charged to court, and the confiscated items forfeited to the government.
CSP Akerele reaffirmed the taskforce’s commitment to maintaining safety and order across the state. “We will continue to monitor the area to prevent the resurgence of illegal activities and to ensure that the roads remain clear for safe and smooth transportation,” he added.
Petrol prices in the UK have fallen to their lowest level in six months, a new analysis shows.
The AA said the average price of a litre of the fuel was 1.43 pounds (1.85 dollars) this week.
Mid-February was the last time it was this low.
Diesel prices have fallen to an average of 147.9 pounds per litre, a level not seen since late January.
The AA claimed the figures are “little cause for celebration,” noting that the highest average price for petrol before the coronavirus pandemic was 1.425 pounds per litre in April 2012.
Scrapping the 5 pence-per-litre fuel duty cut – introduced in March 2022 – would have a significant impact on workers earning the national living wage who drive a substantial mileage due to their job, according to the motoring organization.
An employee who fills up once a week would lose 5.9 per cent of the benefit gained from living wage increases in the past two years if that happened, the AA said.
The fuel duty cut – which is worth 6 pence per litre when VAT is taken into account – is only guaranteed until March 2025.
AA fuel price spokesman Luke Bosdet said: “Pump prices this summer have given UK drivers little cause for celebration.
“They may be way below the 1.9153 pounds record for petrol in July 2022 but they are currently locked at a permanently and historically high level that drains consumers’ finances.
“For low-paid workers who welcomed a living wage increase of nearly 2 pounds an hour during the cost-of-living crisis, having to pay an extra 6 pence a litre for road fuel is going to feel like a substantial pay cut.” (
Petroleum marketers have said the Motor Spirit (PMS, or petrol) cannot sell below N1,500 per litre in the current circumstances.
They said the current level of supply, which leaves a huge gap between the cost-reflective price and the present pump price of between N617 and N820 per litre is causing supply shortage.
Speaking with The Nation on phone yesterday, the President of Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), Dr. Billy Harry, said the product is not sold below $1 anywhere in the world.
Harry, who was shedding light on why the marketers stopped importing petrol, added: “Nobody is going to import the product around N1,500 and sell it for less than N1,400. This is because you have to make profit to be able to restock the product.
“There is nowhere one litre of the product sells for less than $1, and $1 today is N1,600 or thereabout; it is almost N1,700. So, you can see, even if you import petrol even at 90 cent, you can’t reasonably make any profit.
“So, the government is absorbing the shock. The NNPCL is absorbing the shock. We are willing. We are still making efforts.”
He decried the difficulty marketers go through to access forex from the Central Bank of Nigeria (CBN) as another reason for abandoning the deal.
Harry said: “We tried to bring one cargo when deregulation started. After that one cargo, we couldn’t (again) because to access forex to pay for other fees is such a challenge and to also be able to place our order became a challenge for the same reason that we can’t access forex from the Central Bank of Nigeria.
“Also, don’t forget that the landed price of petrol in Nigeria is quite higher than what is being sold at the retail outlets.”
The union leader expressed optimism that following a meeting the marketers had with some local refineries earlier this month, the petrol market would soon record some respite.
But Harry could not give a specific time the local refineries would start working and selling the products to the marketers.
The union leader said the Port Harcourt and Warri refineries had given assurances that they would soon start refining petroleum products.
On PETROAN’s expectations of Dangote Petroleum Refinery, the union leader said he had not physically inspected the 650,000 barrels per day plant and could, therefore, not discuss it in details.
He urged President Bola Tinubu to convene a stakeholders’ meeting where the modalities for mapping out implementable strategies that would make it easy for Nigerians to access petroleum products easily would be discussed.
He said: “Dangote Refinery: we are yet to hear in concrete terms what is being done. We were able to meet with all the other refineries face-to-face but Dangote Refinery, we only discussed with them on digital standard.
“So, we need to also do the same thing that we have done with the other refineries to actually give our practical evaluations of what the situation is.
“But at least, we are happy that Dangote Refinery is already cracking products and even exporting. This is their first duty because they are in an export processing zone. So, they are not doing anything illegal. That is the way the law is.”
Also, the National President of Independent Petroleum Marketers Association of Nigeria (IPMAN), Alhaji Abubakar Maigandi, blamed the persisting scarcity of the product on this month’s protest, especially.
He said the demonstrations stalled the loading and haulage by the union’s members.
