Fuel Marketers Urge Dangote Refinery to Disclose Petrol Prices Amid Growing Anxiety

Local petroleum marketers in Nigeria are pressing Dangote Refinery to reveal the price of its petrol, as they are eager to begin purchasing from the facility. The President of the Petroleum Products Retail Outlets Owners Association (PPROOA), Gillis-Harry, emphasized the need for transparent communication regarding the pricing, stating that marketers cannot rely on unverified claims that Dangote’s petrol is cheaper than imported alternatives.

This request follows allegations from Edwin Devakumar, Vice President of Dangote Industries Limited, who accused local marketers of avoiding the refinery’s petrol despite offering lower prices. Speaking during an online session organized by Nairametrics, Devakumar claimed that only 3% of local marketers showed interest in purchasing Dangote’s petrol.

Gillis-Harry countered this by pointing out that marketers need the actual cost from the refinery to calculate logistics and other expenses before committing to purchases. He stressed that while marketers are ready to collaborate with Dangote Refinery, they need clear pricing to avoid financial losses.

Additionally, he mentioned challenges with Dangote Refinery’s Automotive Gas Oil (Diesel), where marketers were required to buy a minimum of one million liters, a quantity many could not afford.

Despite these concerns, the marketers are open to working with Dangote but need transparent terms of sale.

Black Market Dollar to Naira Exchange Rate on September 13, 2024

The dollar to naira exchange rate at the black market, also known as the parallel market (Aboki fx), has been released for Thursday, September 12, 2024. According to sources at the Lagos Parallel Market (Bureau De Change), traders buy a dollar for ₦1,660 and sell it for ₦1,665.

However, it’s important to note that the Central Bank of Nigeria (CBN) does not officially recognize the black market and advises individuals seeking foreign exchange to approach their banks.

Exchange Rates Summary:

  • Black Market Rate:
  • Buying: ₦1,660
  • Selling: ₦1,665
  • CBN Official Rate:
  • Buying: ₦1,587
  • Selling: ₦1,588

Ecobank Allegedly Intimidating Media Over CBN Investigation

In a related development, Ecobank Nigeria has reportedly attempted to silence media outlets following reports on an ongoing Central Bank of Nigeria (CBN) investigation into the bank. The bank has demanded ₦10 billion in damages from a law firm, Sofunde Osakwe Ogundipe & Belgore Legal Practitioners (SOOBLP), accusing them of damaging its reputation.

Media organizations like Ripples Nigeria were also pressured to remove articles on the investigation. However, a representative of Wilben Trade, Lateef Omoyemi Akangbe, has denied Ecobank’s claims, stating that the CBN investigation is, in fact, real and backed by written evidence.

ASUU Condemns Victimization of Members in Nigerian Universities

The Academic Staff Union of Universities (ASUU) Abuja zone has expressed grave concerns over the alleged mistreatment of its members in various public universities across Nigeria. The union denounced what it termed an alarming trend of victimization, which includes suspension, denial of promotions, withholding of salaries, wrongful dismissals, and suppression of union activities.

During a press briefing in Abuja on Thursday, Salihu Muhammed Lawal, the Abuja Zonal Coordinator of ASUU, warned that if these issues are not addressed, they could lead to significant industrial unrest within the academic sector.

“We are deeply troubled by this troubling trend. It is clear that there is a growing issue within our public universities that threatens to cause unnecessary and preventable industrial discord. The union will not idly stand by while visitors and certain overzealous administrators undermine the principles of academic excellence and the rule of law as enshrined in university Acts and the Federal Constitution,” Lawal stated.

The issue of victimization, according to Lawal, initially surfaced at Kogi State University, Anyigba, where misunderstandings about the university system led to conflicts between the administration and the union. This discord escalated when the university administration began infringing on academic staff rights, culminating in a strike action and the dismissal of 120 staff members.

Similar incidents have been reported at other institutions, including Lagos State University (LASU), Ebonyi State University (EBSU), Ambrose Alli University, Ekpoma (AAUE), Chukwuemeka Odumegwu Ojukwu University (COOU), and the Federal University of Technology, Owerri (FUTO).

Lawal highlighted specific issues:

  • At LASU, there has been severe repression of union activities and victimization of union leadership.
  • EBSU has experienced political interference leading to inhumane treatment of staff, with a group called ‘The Divine Mandate Professors’ reportedly usurping the university’s Governing Council’s powers.
  • COOU has seen persecution of union members and significant disruption of union activities.

ASUU is calling on all stakeholders, including university visitors and administrators, to address these pressing issues promptly to prevent further deterioration of the situation on campuses.

Police Arrest Fake Inspector and Neutralize Killers of Rivers CDC Chairman

The Rivers State Police Command has made significant arrests, including a fake police inspector leading an armed robbery gang and the elimination of four suspects connected to the murder of a Community Development Committee Chairman in Mgboshimini, Obio/Akpor Local Government Area earlier this year.

The fraudulent officer, identified as Fred Monday, was apprehended by the Anti-Kidnapping Unit on August 9, 2024, around 11:45 PM in Luegbo Community, Khana Local Government Area. Monday, who was armed with an AK-47 rifle, was allegedly involved in a criminal operation.

Commissioner of Police Olatunji Disu revealed the details during a media briefing at the Command’s Headquarters in Port Harcourt. Disu stated that upon arrival at the scene, which was initially reported as a criminal activity, officers discovered it was actually an initiation ceremony by students. The fake inspector was found providing cover for the event.

Disu further explained that the police arrested five students from Ken Saro Wiwa Polytechnic, identified as Mduni Clement, Prosper Wonyingipreye, Kunle Joseph, Eken Evans, and Isaiah Elisha. These individuals confessed to being members of the Vikings confraternity and have been charged and remanded in a correctional center.

The operation also led to the recovery of military gear, further highlighting the complexity of the situation involving the fake police officer and the criminal activities within the community.

IMF Urges Tinubu to Strengthen Social Protection Amid Fuel Price Hike

The International Monetary Fund (IMF) has urged President Bola Tinubu to bolster social protection measures for Nigeria’s most vulnerable citizens in response to the recent hike in fuel prices and ongoing flooding issues. Christian Ebeke, the IMF’s Resident Representative in Nigeria, highlighted the need for accelerated support during an interview on Arise Television.

With the pump price of Premium Motor Spirit (petrol) skyrocketing to ₦897 at Nigerian National Petroleum Company (NNPC) outlets and ₦980 at independent marketers’ stations—up from ₦617 and ₦720 respectively—Nigerians have been grappling with the economic strain. Ebeke emphasized that swift action is necessary to help the vulnerable populations cope with these shocks.

He praised the Federal Government’s existing program aimed at supporting 15 million households but stressed the need to expedite its implementation. “The immediate priority is cushioning the impact of the pump price policy on the most vulnerable,” Ebeke said, calling for increased efforts to accelerate social protection mechanisms.

2024-2025 English Premier League Matchday Four Fixtures and Kick-Off Times

The 2024-2025 English Premier League is set to resume this weekend following a brief break for the September FIFA international matches. Manchester United, who have struggled with inconsistency so far this season, will kick off Matchday Four with an away fixture against Southampton. Coach Erik ten Hag is under pressure to steer his team back to winning form.

The highlight of the weekend will be the North London Derby between Arsenal and Tottenham Hotspur, a highly anticipated clash with Arsenal missing their captain, Martin Ødegaard, due to injury.

Brentford’s match against Manchester City also promises intrigue, though the reigning champions are expected to secure a win, with Brentford known for causing upsets in the league.

Here are the full fixtures for Matchday Four and their kick-off times:

Saturday, September 14

  • Southampton vs Manchester United – 12:30 p.m.
  • Liverpool vs Nottingham Forest – 3 p.m.
  • Manchester City vs Brentford – 3 p.m.
  • Fulham vs West Ham – 3 p.m.
  • Crystal Palace vs Leicester City – 3 p.m.
  • Brighton vs Ipswich Town – 3 p.m.
  • Aston Villa vs Everton – 5:30 p.m.
  • Bournemouth vs Chelsea – 8 p.m.

Sunday, September 15

  • Tottenham Hotspur vs Arsenal – 2 p.m.
  • Wolves vs Newcastle – 4:30 p.m.

The matchups are expected to deliver an exciting weekend of football.

Samson Siasia: Super Eagles Need a Creative Playmaker Like Jay Jay Okocha

Former Super Eagles coach, Samson Siasia, has voiced his concern over the Nigerian national team’s lack of a creative midfielder. According to Siasia, the Super Eagles require a playmaker with the vision and flair of former captain Austin Jay Jay Okocha to unlock their full potential on the world stage.

Since Okocha’s retirement in 2006, Nigeria has struggled to find a suitable replacement for the legendary midfielder. While John Mikel Obi was once expected to fill the role, Siasia believes he didn’t quite meet the expectations. Currently, Alex Iwobi of Fulham occupies the number 10 role, but Siasia feels Iwobi lacks the offensive playmaking qualities needed to excel in the position.

“We have great strikers, but we’re missing an offensive midfielder who can provide the final pass,” Siasia said during an interview with Lagos Talks. He emphasized the importance of a creative midfielder capable of not only orchestrating attacks but also contributing goals, similar to but even more prolific than Okocha.

While praising the team’s defense and strength on the flanks, Siasia stressed the need for a central player who can elevate the Super Eagles’ offensive game, making a decisive impact in crucial moments.

Tinubu and King Charles III Discuss Climate Change and Energy Security, Says Presidency

President Bola Tinubu of Nigeria and King Charles III recently held a private meeting at Buckingham Palace, where they discussed key issues related to climate change and energy security, according to the Nigerian presidency.

Bayo Onanuga, Special Adviser to President Tinubu on Information and Strategy, revealed that the meeting focused on potential areas of collaboration ahead of international events such as the COP 29 Summit in Azerbaijan and the Commonwealth Heads of Government Meeting (CHOGM) in Samoa. Both leaders explored strategies to strengthen bilateral relations between Nigeria and the United Kingdom.

President Tinubu reaffirmed Nigeria’s commitment to global sustainability efforts, while emphasizing the need to balance climate action with energy security to support the country’s economic growth and meet the needs of its population. The discussion also covered climate financing and how both nations can forge stronger partnerships.

The meeting also highlighted Nigeria’s leadership role within Africa and the Commonwealth, positioning it as a key player in advancing shared environmental and economic objectives. This marks the second time the two leaders have met, following their previous interaction at the COP 28 Climate Summit in Dubai.

CBN Directs Payment Service Providers to Monitor PoS Transactions

The Central Bank of Nigeria (CBN) has issued a new directive requiring all Payment Service Providers to track and route transactions conducted through Point of Sale (PoS) terminals via licensed Payment Terminal Service Aggregators (PTSAs). This move aims to enhance the monitoring of electronic payments in the country.

The directive, signed by Oladimeji Yisa Taiwo of the CBN’s Payments System Management Department, gives service providers a 30-day compliance deadline to implement enhanced routing protocols for PoS transactions. All transactions, whether physical or electronic, must now be processed through CBN-licensed PTSAs.

The CBN’s decision comes as part of efforts to decentralize PoS transaction management and address concerns about the centralization of these transactions. It follows the expiration of a previous deadline on September 5, which required PoS agents to register with the Corporate Affairs Commission (CAC). The CAC has since shut down non-compliant PoS businesses.

This heightened regulation of PoS operations also responds to the increasing incidence of fraud, with PoS terminals responsible for 26.37% of fraud cases in 2023, according to the Nigeria Inter-Bank Settlement System Plc.

PDP withholds endorsement of Peace Accord for Edo Governorship Election

The Peoples Democratic Party (PDP) has declined to sign the peace accord ahead of the Edo State Governorship election set for September 21. The announcement was made by former Head of State Abdulsalami Abubakar at the peace accord signing event in Benin.

Abubakar revealed that the PDP’s refusal to sign is contingent upon certain conditions being met. “The PDP has stated that they will only sign the peace accord if their specific conditions are addressed,” he said. “I had anticipated a statement from the PDP chairman, but he did not attend the event.”

The PDP state chairman was absent from the venue, and further details on the party’s decision were not provided. Governor Godwin Obaseki had previously hinted at the party’s reluctance to sign the accord during a meeting with the National Peace Committee.

As of the latest update, the All Progressives Congress (APC) has also yet to sign the peace accord.