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Truck owners and commuters have raised the alarm over mounting losses on the ever-deteriorating Calabar-Uyo federal highway, as the road continues to claim lives, damage vehicles, and destroy goods. In an interview with newsmen in Calabar on Tuesday, frustrated truck owners expressed their concerns over the road’s condition, which has worsened over the years, linking
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A former governor of Ekiti State, Ayo Fayose, has told President Bola Tinubu he needs to do more to end the sufferings of Nigerians. Fayose said the Tinubu administration could be doing its best to make things better for Nigerians, but added that whatever it is doing is not enough. He acknowledged that Nigerians are
Hardship: You’ve to do more, it’s not easy for Nigerians – Fayose to Tinubu
A former governor of Ekiti State, Ayo Fayose, has told President Bola Tinubu he needs to do more to end the sufferings of Nigerians.
Fayose said the Tinubu administration could be doing its best to make things better for Nigerians, but added that whatever it is doing is not enough.
He acknowledged that Nigerians are facing a hard time economically but believes that it would not take much time before things begin to look better again.
“It’s not been too easy, that is the truth for Nigerians, but I think that this government naturally, is given their best but their best still needs to be upped,” the former Governor told Channels Television’s Sunday Politics.
“If you say they need time, people will begin to question to say, what time do they need? Yes, I agree that it has not been too easy for Nigerians, but I know that with little time things could get better; that is what I can say,” he stated.
Experts believe that the monetary policy of the Tinubu administration coupled with inflation and hike in the pump price of fuel have further thrown citizens into hardship.
Hardship: You’ve to do more, it’s not easy for Nigerians – Fayose to Tinubu
President Bola Tinubu has extended his condolences to the family of the President-General of Ohanaeze Ndigbo Worldwide, Chief Emmanuel Iwuanyanwu,…
A group, Yoruba Stakeholders Assembly has made some clarifications on the pump price of Premium Motor Spirit, PMS and the accompanied controversy. The group in a statement issued by its convener, Comrade Dayo Olawale said as a committed voice for transparency and awareness in Nigeria, the Yoruba Stakeholders Assembly “seeks to address the recent misinformation
Yoruba stakeholders make clarifications on fuel prices controversy
A group, Yoruba Stakeholders Assembly has made some clarifications on the pump price of Premium Motor Spirit, PMS and the accompanied controversy.
The group in a statement issued by its convener, Comrade Dayo Olawale said as a committed voice for transparency and awareness in Nigeria, the Yoruba Stakeholders Assembly “seeks to address the recent misinformation surrounding the pricing of Premium Motor Spirit (PMS) in the country.”
It said In this era of rampant speculation and misinformation, it is crucial to separate fact from fiction—especially when the livelihoods of ordinary Nigerians are at stake.
It said the statement should serve as a reminder that informed citizens are the backbone of a thriving democracy, stating that, “A nuanced understanding of market dynamics, governmental roles, and inter-business negotiations is essential in fostering a culture of accountability and transparency. We urge all Nigerians to remain vigilant, seek verifiable facts, and engage in productive discussions that ultimately contribute to a more sustainable future for our nation. “
Establishing the fact that there is non-existence of government control over PMS pricing, the group said, “Contrary to popular belief, it is imperative to clarify that neither the government nor the Nigerian National Petroleum Company Limited (NNPC Ltd) possesses the authority to fix the price of PMS. The pricing mechanism for PMS has undergone a significant transformation, evolving into a deregulated market where market forces predominantly dictate prices. This framework is designed to create a competitive environment that benefits consumers while fostering a healthier economic climate.
It went further to state that the current situation is market forces at Play.
According to the group, “In a deregulated market, the price of PMS is influenced by multiple factors, including supply and demand, global oil prices, and operational costs related to refining and distribution. The NNPC Ltd has actively engaged with private entities to ensure a steady supply of fuel, thus promoting competition and potentially lowering prices.”
Speaking on the realty of fuel acquisition rates, the statement said, recent discussions have brought to light the fact that NNPC Ltd procured fuel from Dangote Refinery at a cost of N898 per liter. “It is critical to emphasize that NNPC Ltd’s engagement with Dangote was aimed exclusively at ensuring that Nigerians have access to fuel at a fair price. This negotiation process underscores NNPC Ltd’s commitment to representing the interests of the Nigerian populace.
On sustaining and affordable fuel prices, the group said for the past year, the market price of petrol has hovered around N1,100 per liter. “However, thanks to the proactive measures undertaken by NNPC Ltd, ordinary Nigerians have been shielded from these soaring prices, benefiting from a subsidized rate of N620 per liter. This has been possible due to NNPC Ltd covering the shortfall—an effort that, while noble, has become an unsustainable endeavor. This cry for sustainability reflects NNPC Ltd’s commitment to balancing providing affordable fuel and maintaining fiscal responsibility.
“There is a misconception that the government dictated the pricing structure for Dangote’s fuel. In actuality, it is Dangote who independently decided to sell his refined fuel to NNPC Ltd at N898 per liter. Initial negotiations revealed Dangote’s proposed price to be well over N900 per liter, which NNPC Ltd successfully negotiated down to a more manageable rate for the benefit of the Nigerian consumer.
“NNPC Ltd’s directive to Dangote to also sell his fuel to other marketers, under a willing buyer-willing seller basis as outlined in the Petroleum Industry Act (PIA), reinforces the commitment to creating a competitive market. This action aims to ensure that pricing remains fair, accessible, and transparent—principles that should govern all transactions in the energy sector.
“Recent statements suggesting that Dangote intends to sell fuel to Nigerians at prices significantly lower than market rates, only for the government to intervene, are grossly misinformed. The narrative that suggests government manipulation of fuel prices is not grounded in reality. The truth lies in the fact that the price negotiated by NNPC Ltd is a direct result of market influences, competitive negotiations, and the pressing need to ensure fair access to fuel for all Nigerians.
“In conclusion, as we navigate these turbulent waters of economic discourse and fuel pricing, we urge all Nigerians to remain wise and discerning consumers of information. It is vital for the public discourse to be anchored in facts rather than fiction so that we, as a nation, can collectively address the challenges we face with integrity and transparency.
“The Yoruba Stakeholders Assembly is committed to fostering an informed citizenry—one that propels Nigeria towards a sustainable future, grounded in facts. “
Yoruba stakeholders make clarifications on fuel prices controversy