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ALERT: Panic buying in Lagos as fear of petrol pump price hike grips residents

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Lagosians this morning embarked on panic fuel buying as petrol stations across the metropolis become crowded with vehicles and people who want to buy the product in jerrycans.

This may not be unconnected with the Tuesday’s announcement by the the downstream subsidiary of the Nigerian National Petroleum Corporation, NNPC, the Petroleum Products Marketing Company, PPMC, which fixed the ex-depot price of Premium Motor Spirit, PMS, also known as petrol, at N138.62 per litre

When asked why the panic buying, some motorists who spoke with GidiNews blamed on it on the inconsistency of the government over the fixing of petroleum pump price in recent time.

“We are not sure what could come up next and so, one has to prepare well for every eventuality that may occur. I am a businessman and I cannot afford to look on, while my investments are always affected by unpredictable government policies. I need to fill my tank, at least for the rest of the week and that is why I am here” A motorist told our correspondent in Ogba Ikeja.

A filling station along College Road, Ogba

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BUSINESS

Alaba Amalgamated Council commiserates with Ojo police station, donates items for rebuilding

…thanks Gov. Sanwo-Olu for re-opening Lagos markets

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By Adeola Oluwaseun Oluwole

A week after a widespread arson which left many public utilities burnt in Lagos including police stations, the Alaba Amalgamated Council of Sectional heads have commiserated with Ojo police station and donated items to fast-track the rebuilding of the station.

The Council which visited the dilapidated police property on Tuesday 27th of October, 2020 to see the level of damage and to show their support to the command also facilitated the re-roofing of the station

The council of sectional heads led by the president Ichie Fabian E. Ezorjika donated office tables, chairs, electronics and a power generating set to the station.

Also, the roofing of the police station was changed and sponsored by Evang. Paulilus Ugochukwu ( a.k.a Sound Prince).

Ojo local government Chairman Hon. Rosulu Idowu donated and an Ilux van to the station as their patrol van was also burnt during the incidence.

In another development, the Alaba International Amalgamated Traders Association (Council of Sections) has expressed appreciation to the Lagos state government, Babajide Sanwo-Olu for the promptness in re-opening markets in the state after last week’s riots.

Th association commended governor Sanwoolu for yielding to the cries of its members on the inconveniences the one-day on, and one-day off pattern characterized by the pandemic caused them economically.

They promised to adhere to the Nigeria Centre for Disease Control (NCDC)’s rules guiding against Covid-19 and ensure full compliance of traders in tax payment.

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BUSINESS

“We really don’t know how much petrol is consumed in Nigeria, daily” -NNPC

Agency says around 54 million litres of petroleum product are evacuated from the depot daily

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The agency responsible for petroleum matters in the country, the Nigerian National Petroleum Corporation (NNPC) said it does not have data about the volume of petroleum consumed in Nigeria,daily.

NNPC’s Group Managing Director, Mele Kyari dropped the shocker at an interactive hearing on “Exiting Petroleum Subsidy: Ensuring Self – Sufficiency in Domestic Refining of Petroleum Products”.

Mr. Kyari however said the agency has records of quantity being lifted from depots across the nation, adding that the price of fuel at the borders is higher than the official rate..

He said, “We don’t know how much petroleum we consume daily in this country but we know how much of the product that is taken out of our depot.

“This year, around 54 million litres of petroleum product are evacuated from the depot daily but the consumption is somewhere below that.

“NNPC has no knowledge of the amount of the product that are transported through Nigeria’s borders to neighbouring countries. It is impossible to know, nobody declares it, and therefore as it crosses, it goes.” He said

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Lagos Assembly goes tough on illegal dredgers, extends committee tenure

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By Joshua Timi

Speaker of the Lagos State House of Assembly, Rt. Hon. (Dr.) Mudashiru Obasa, has approved two extra weeks to the 7-Man Ad Hoc Committee on dredging to allow it investigate deeply into the dredging activities in the State.

While disclosing to the House the reckless activities of the dredgers, Hon. Victor Akande, Chairman, 7-Man Ad Hoc Committee on dredging divulged that a lot of fraudulent conducts has been on-going.

“Many of these dredging companies do not pay revenues into the coffers of the state government and they go beyond the areas approved for their dredging activities even when they pay. This matter needs serious attention and the Committee would need two more weeks for adequate inspection into their conducts.” He said.

Hon. Rasheed Makinde said that the matter in question borders on human and environmental rights and despite the efforts of the state government to ensure that the waterfront and shores of the state are protected; the dredging companies are destroying aquatic, ecosystem and environmental system without any form of social benefit to the State.

In his contribution, Hon. Rotimi Olowo noted that as the Chairman, House Committee on Finance, it is pertinent to ensure that the revenue of the state is augmented by making sure the dredging companies pay their dues as at when due.

He also added that the Ad hoc Committee should be supported with security operatives when going on inspection visit to the dredging sites of the state.

Lending his voice to his colleagues’ submissions, Hon. Desmond Elliot, a member of the Committee noted that most of the channels have been blocked due to the irregular channelization of the areas.

Consequently, the Speaker directed the Clerk of the House to write a letter to the Lagos State Commissioner of Police to give support to the Committee during their inspection of the dredging sites.

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