Newspapers for Monday, January 30 report on an imminent petrol scarcity, the plans by the NDLEA to extradite Senator Kashamu to the US to face drug charges and the controversy over President Donald Trump’s visa ban.
There are fears of imminent petrol scarcity as some depot owners have jerked the ex-depot price to N142 per litre, against government’s approved N123.28 –N133.28 per litre ex-depot price band.
Recall that oil marketers had agreed to support the federal government’s efforts in ensuring sustained and stable supply of petrol at the official pump price of N145 per litre.
The decision was reached at a two-day consultative forum of the downstream petroleum sector, which was recently convened by the Chief of Staff to the President, Mallam Abba Kyari.
Following the meeting, on May 11, 2016 when the current retail price band of N135 – N145 per litre took effect, the Petroleum Products Pricing Regulatory Agency (PPPRA) had fixed the indicative ex-depot price at N123.28 –N133.28 per litre for product that is in the depots, via circular No. A.4/9/017/C.2/IV/690.
But investigation by This Day has revealed that only six members of the Major Oil Marketers Association of Nigeria (MOMAN) – Forte Oil, Total, Mobil, Conoil, MRS and Oando- are loading petrol at government’s approved ex-depot price.
According to THISDAY’s investigation, majority of the independent marketers and depot owners sell above the official ex-depot price range, thus making it impossible for the retail outlets to sell at N145 per litre and break even.
Investigation further revealed that the ex-depot price in most of the depots ranges between N136, 139, 140 and N142 per litre.
Following the development, some marketers, have said the N145 per litre pump price was no longer sustainable as a result of the hike in ex-depot price.
In related news, operators in the real sector relying on diesel and gas for production now grapple with higher operational costs amidst drop in capacity utilisation levels.
The Guardian reports that though Nigeria’s foreign exchange earnings is improving on the back of rising oil prices, manufacturers say challenges abound as energy costs rise above 40 per cent of operating costs.
The paper reports that having explored options of rightsizing and downsizing in the 2016 financial year as part of measures to stay afloat, many operators are considering further reduction in staff profile as they are having difficulty paying existing staff while rationing fuel consumption to cut down on operational costs.
In other news, the National Drug Law Enforcement Agency (NDLEA) has said it will make effort to extradite Senator Buruji Kashamu after a United States court ruled that the senator must face drug charges.
The Punch reports that the NDLEA also stated that it would ensure that orders stopping the arrest of the senator were vacated in a bid to pave the way for his extradition.
The spokesperson for NDLEA, Mitchell Ofoyeju, said the agency had a legal treaty with the US and would not compromise this agreement for any reason.
In foreign news, world leaders have condemned President Donald Trump’s controversial immigration order which bans citizens of seven majority Muslim countries in Africa and Asia —Somalia, Sudan, Libya, Iran, Iraq, Yemen and Syria — from visiting the U.S..
The Nation reports that Republican senators John McCain and Linsey Graham drove home the deep implications of the order on United States security in their condemnation of the order.
Sixteen Attorneys General in the U.S. have also declared the order as unconstitutional.
In a joint statement, 16 attorneys general, from states including California, New York and Pennsylvania, said they would “use all of the tools of our offices to fight this unconstitutional order” and, until it was struck down, would “work to ensure that as few people as possible suffer from the chaotic situation that it has created”.
British Prime Minister Theresa May said Britain did not agree with “this kind of approach”.
May had been criticised by lawmakers in her ruling Conservative Party for not condemning Trump’s decision.
Her spokesman said: “Immigration policy in the United States is a matter for the government of the United States, just the same as immigration policy for this country should be set by our government.”
360naze
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