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CBN Moves To Cut $2bn Wheat Import Bill

By
Bayo Bernard
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0

By Fola James

The Central Bank of Nigeria, CBN says the country could no longer afford the $2 billion annual wheat importation bill, due to the impact on the nation’s foreign reserves.

According to the United States Department of Agriculture, Nigeria produces less than one per cent of 4.7 million tons of wheat it consumed this year, while the country imported 5.1 million tons of the commodity.

Godwin Emefiele, the apex bank governor, who was represented by the Deputy Governor, Corporate Services, Edward Lamtek Adamu made this known, on Wednesday, in Jos Plateau state.

He said the fact that wheat has become the third widely consumed item in the country, and number three on the country’s importation bill, creating exchange rate imbalance, is very worrisome.

The way out of the problem. The CBN said it’s addressing the problem through the wheat value chain intervention programme captured under the Nigerian Brown Revolution, which is an offshoot of the Anchor Borrowers’ Programme, ABP.

Emefiele said, “Wheat is the third most widely consumed grain in Nigeria after maize and rice. It is estimated that the country only produces about one per cent (63,000 metric tons) of the 5-6 million metric tons of the commodity consumed annually in Nigeria.

“This enormous demand-supply gap is bridged with over $2 billion spent annually on wheat importation. This has made wheat the second highest contributor to the country’s food import bill.”

He warned that the problem must be addressed immediately to reduce pressure on the country’s lean foreign reserves. According to him, “given the high growth rate of the country’s population and the demographic structure, the demand for wheat is projected to continue to rise.

“This can only intensify pressure on the country’s reserves unless we take a decisive step to grow wheat locally.”

Emefiele further stated that the ABP has assisted many farmers across the country to expand their crop production because, “through the programme, N788.035 billion has been disbursed to about four million farmers through 23 Participating Financial Institutions (PFI). So far, 4.796 million hectares of farmlands have been cultivated under the programme covering 21 commodities”.

The nation’s foreign reserves had hovered around $38 billion for the most part of the year due to high import bills and fall in the price of crude oil, the country’s economic mainstay, until last month when it rose to more than $40 billion, the highst in five years after the federal government successfully issued $4 billion Eurobond.  In early October, the reserve hit an all time low of $36 billion.

Meanwhile, the Minister of Agriculture, Mohammed Abubakar, has raised concern over the rising wheat consumption and attendant impact on Nigeria’s import bills in recent years, urging stakeholders to invest more in the wheat value chain.

Pastor Odukoya Mourns Wife, Says She Gave Him Eleven Beautiful Years

By
Akinwale Kasali
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Pastor Taiwo Odukoya and His South African Wife

By Akinwale Kasali

Tragedy has once again struck the household of  Pastor Taiwo Odukoya, Founder and Presiding Pastor of Fountain of Life Church, Illupeju, Lagos.

The 63-Year old clergyman has lost his South African Wife, Simangele Nomthi Odukoya. She lost her battle of two years to cancer.

The death of Nomthi is coming 16-Years after Pastor Odukoya lost his former wife, Pastor Bimbo Odukoya in the Sosoliso Plane Crash, which also claimed the lives of scores of Students of Loyola Jesuit School, Abuja.

Pastor Odukoya, announced the demise of his South African beauty, as he was yet to come to terms with her sudden exit.

He wrote: “She gave me eleven beautiful years of marriage and two wonderful boys.

“With deep regret and gratitude to God, I have to announce the passing of my wife, Pastor Nomthi Odukoya.

“She battled cancer for the better part of two years. She stood on the word of God and she fought.

“She gave me eleven beautiful years of marriage and two wonderful boys, who I know will be very significant in life.

“We loved her with all our heart, but who are we to fight with the will of God.

“The truth is, at one point in our lives, we all will have to say goodbye. So for now, till we meet again in glory, Goodbye Pastor Nomthi.

“I love her with all my heart but who am I to fight the will of God…”.

Besides the two boys Nomthi bore for Pastor Odukoya and left behind, Pastor Odukoya and Pastor Bimbo had Three children.

Before death separated them, his union was Bimbo was blessed with three children – Tolu, Jimi and Tobi.

Insecurity: Gumi Says Bandits Require Money, Land Compensation

By
Akinwale Kasali
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By Akinwale Kasali

Controversial Islamic Cleric and Self Acclaimed Bandits- Negotiator, Sheikh Ahmad Gumi, has warned that for the killings by Bandits to end, they must be compensated monetarily and given land.

Gumi took his advocacy for bloodletting-bandits to this new dimension, stressing that the Bandits have refused to end hostilities  because they were not given land and “enough money”.

Speaking further, the Medical Doctor-turned Islamic Cleric said that past attempts “to broker peace” with the bandits failed because they were not compensated “with lands or cattle or money big enough to help halt hostilities.”

He added that sometimes the Government would “just give them (bandits) a million or two million and get their weapons without even looking at how they survive.”

Gumi took to his Facebook page on Tuesday, in a live streaming, disclosing that to pacify the Bandits, it is only through religion the Bandits can be pacified to embrace peace.

It would be recalled that  Gumi had likened the Bandits to the Niger Delta agitators, admonishing the Federal Government to create a Federal Ministry for Bandits to address their grievances and that of killer Fulani herders, just as the Niger Delta Ministry was created by Late former President Umaru Yar’Adua.

Katsina State Governor, Aminu Masari, had  openly rubbished the idea, saying and admitting that Fulanis are the bandits killing and kidnapping Nigerians, and  deserve no amnesty whatsoever.

Nigerians on social media have called on the President Buhari Government to arrest Sheikh Gumi who has consistently maintained his stance on amnesty for bandits.

His position and stance on the Bandits have infuriated Nigerians, who have continually lambasted the Federal Government of aiding Gumi and encouraging him.

Gumi’s position on banditry, kidnapping, and secession has once again attracted the outrage of Nigerians online, many of whom asked why he had yet to be detained or at least invited for questioning by security operatives.

According to Lekan Joseph, a social commentator, “It is now visible to the blind and audible to the deaf that Gumi is a merchant of banditry, looking for every means possible to sell his evil merchandise; but it will never be well with him.”

Ntwan Kilobas Elisha posted, “If we had a responsible Government, this man can’t be moving freely and making these kinds of irresponsible statements.”

University Of Medical Sciences, Ondo Sends Students Home Over Fees

By
Ayodele Oni
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University of Medical Sciences Ondo

By Ayodele Oni

University of Medical Sciences, Ondo, (UNIMED), has been closed with a directive to students to vacate the campus by Thursday, just as the Vice Chancellor of the University, Prof Adesegun Fatusi, shed light on the new fees.

The Management claimed in a memo that it postponed students’ resumption for the academic session.

The action, it was gathered, was meant to stop a planned protest by the students against the sudden increase in their school fees by the state government.

The University had announced an increase in fees, especially for medical students, payable at the commencement of the new academic session.

The new fees indicate that medical students will pay as much as N1.3 million as against N515,000.00 payable in the previous academic session (2020/2021).

The closure or postponement of resumption was contained in a circular addressed to the staff and students of the institution and signed by Ezekiel Adeniran for the school’s registrar.

It stated that “This is to inform all staff and students of the University of medical sciences, Ondo that the University management on behalf of the Senate has approved that the resumption date for the 2021 /2022 academic session for all returning students of the University be postponed indefinitely.

“Therefore, by this circular, all returning students are directed to vacate University campus and their respective Halls of residence within the next 48 hours (I.e Thursday 11th November, 2021).

“Please note that the University management will not hesitate to invoke necessary sections on any students who defies this directive. A new date will be communicated as appropriate.”

The Vice-Chancellor of the University, Prof Fatusi explained that the increase was only meant for new intakes.

According to him, the increase was necessitated by high cost of medical equipments occassioned by high rate of foreign exchange.

The opposition Peoples Democratic Party, PDP, had earlier condemned Governor  Rotimi Akeredolu over the increase in school fees.

Anambra: This Is The Sacred Mandate of the People, says Soludo

By
Uche Mbah
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By Uche Mbah

Governor-elect of Anambra State, Professor Charles Soludo, has described his victory at the polls as a sacred mandate of the people.

He was reacting to his victory as declared by  the Independent National Electoral Commission, INEC,  in the early hours of Wednesday, November 10, 2021. Soludo was the  candidate of the All Progressives Grand Alliance,   APGA.

It was a battle he clearly coasted to victory after the supplementary election held Tuesday, October 9, at Ihiala Local Government Area.

Professor Florence Obi, Vice Chancellor, University of Calabar, who was the Returning Officer for the State, had announced Soludo as winner of the election.

Soludo polled 112,229 votes to defeat his two major rivals, Valentine Ozigbo of the Peoples Democratic Party (PDP) who polled 53,807 votes, and Andy Uba of the All Progressives Congress (APC) who got 43,285 votes.

In his acceptance speech shortly after the result was announced, the former Central Bank of Nigeria, CBN, thanked  his family, leaders and members of APGA and Anambra indigenes for their support. He thanked, profusely, the outgoing Governor Willy Obiano, for leading him to victory, as well as President Muhammadu Buhari.

Soludo, who survived an assassination attempt, prayed for the souls of the three policemen who lost their lives during the attempt on his in his community during the campaigns.

“With utmost humility and gratitude to God, I accept the result of the Anambra Governorship election. This reflects the supreme will of the Almighty God and an overwhelming sacred mandate of the people,” he said.

“For 12 years since the massive clamour by the people of Anambra for us to serve them, we persevered till this divine moment. This is a divine journey whose time has come. To God be all the glory and adoration.

“The run-up to this election and the election itself tested the resilience and the integrity of our federal institutions. Many times, there were tensions, especially as one party boasted that it must ‘take or conquer Anambra by all means’. Our institutions proved again and again that this country can achieve eminent greatness when our institutions rise to the occasion.

“Aside from the initial hitches from the operations of the BVAS machines in some places, including at my polling unit, the election has been adjudged as the most peaceful, free, fair and credible. There is joy in the land. Kudos to INEC.

“To my fellow candidates in the election, I wish to congratulate you for the gallant contest. Our people have spoken overwhelmingly and surely, that voice is the voice of God. The ultimate winner is the Anambra people. We are all winners.

“I hereby extend my hand of fellowship to all of you; I need all of you to succeed. Politics aside, we are all brothers. Let’s come together for the project, Anambra. There is enough room for everyone to contribute in the service of our homeland.”

He commended INEC and thanked President Muhammadu Buhari for the success of the election, stating that the Bimodal Voter Accreditation System (BVAS) is a “massive improvement” on the old card readers, but cautioned the electoral umpire to do more towards the improvement of quality of elections.

Soludo is the second CBN Governor to become the governor of a State. The first  was late Dr Clement Isong, who became governor of Cross River State.

$418m for Paris Club Consultants Request: CNPP Says Separate Attorney-General’s Office from Ministry of Justice

By
The Source
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Chief Willy Ezugwu

Conference of Nigeria Political Parties (CNPP) has reiterated the call for the separation of the office of the Attorney-General and that of the Minister of Justice.

The CNPP, while reacting to the accusation by the Nigeria Governors’ Forum against the Attorney-General of the Federation and Minister of Justice, Abubakar Malami over his special interest in the controversial $418m refund requested by consultants with respect to the Paris Club refund.

The umbrella body of all registered political parties and political associations in the Nigeria also backed the governors of the 36 states of the federation on the the accusation that Mr. Malami has more than passing interest in the in the money.

In a statement signed by its Secretary General, Chief Willy Ezugwu, the CNPP said the insistence by the Federal Government through the office of the Attorney-General Office and Minister of Justice that the deduction was lawful is loud enough to convince any discerning citizen.

The CNPP noted that despite the fact that a Federal High Court sitting in Abuja had on Friday barred the Federal Government from deducting $418m from the bank accounts of the 36 states of the federation, the Attorney-General Office and Minister of Justice has continued to insist on the deductions.

“If there is a time the office of the Attorney-General and that of the Minister of Justice should be separated, it is now.

“The current Attorney-General and Minister of Justice, Abubakar Malami, has bastardized the office of the Minister of Justice. His defence of government actions and inactions has not only made him unfit to hold the two offices.

“Mr. Malami has made several utterances that have portrayed him as a biased Chief Law Officer of the federation”

“The CNPP therefore stand with the Nigeria Governors’ Forum on their position that Mr. Malami has a vested interest in the money being requested by the consultants”, the CNPP stated.

Imo Needs a United House of Assembly, Uzodimma tells Members

By
The Source
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Hope Uzodimma

“…Receives newly elected Speaker”

Governor Hope Uzodimma has challenged members of the Imo State House of Assembly to work as a team and trust each other if they want to make the desired impact.

He has also reiterated that he will not interfere in their independence as an arm of government but rather partner with the members on how to serve Imo people better.

Governor Uzodimma spoke Monday night when he received the newly elected Speaker of Imo State House of Assembly, Rt. Hon. Kennedy Ibe, representing Obowo Constituency, who replaced former Speaker, Rt. Hon. Paul Emeziem, on Monday following his removal by his colleagues.

Speaking at the New Executive Chambers, Government House Owerri,  Governor Uzodimma urged the lawmakers to work as a team and eschew tendencies that cause division among them.

He congratulated the lawmakers for resolving to elect the Speaker of their choice peacefully without external interference, saying “what happened that resulted into a peaceful and democratic election of the new Speaker is a victory for democracy.”

He called on them to work towards a united House where there will be mutual trust.  “Imo State needs a united, functional, effective and efficient House of Assembly that will work towards giving the people the desired dividends of democracy.”

The Governor noted that as a democrat he submits to the doctrine of  Separation of Powers, insisting that “when this is fully applied the three arms will surely deliver on their mandate.”

He called on the members to imbibe the spirit of team work, requesting that they  “forgive each other and forge ahead.”

Governor Uzodimma also reminded the lawmakers that God is the ultimate decider of what anyone will be in life and, or what position one will occupy as a human being.

He emphasized that all the arms of government must strive to contribute their quota to serve Imo State better, noting that “whether as an Executive, Legislature or Judiciary member if government succeeds it is for all of us, and when it fails they have all failed.”

Governor Uzodimma pleaded with the new Assembly leadership to “forgive the past and forge a new alliance that will make Imo State House of Assembly the best in Nigeria.”

Highlighting the need for an interface between the party in power and the other arms of government, the Governor proposed that the leadership of the All Progressives Congress in Imo State gets more involved and work towards ensuring that a caucus meeting is held monthly with the lawmakers to discuss those things that will take the State to greater heights.

He reassured the Imo House of Assembly members of his willingness to keep every promise he made to them on assumption of office that would help enhance their legislative functions.

“Bring down your eyes and do more work.  Whoever that will occupy any position is for a time. The opportunity is always one at a time. Therefore, bring in pragmatism into your work and make legislative business attractive and interesting.”

Governor Uzodimma charged the new Speaker to “go back to the drawing board, reengineer and resuscitate the House of Assembly by carrying every member along for a better productivity to the benefit and well-being of Imo people.”

Presenting the new Speaker to the Governor,  the member representing Njaba State Constituency,  Rt. Hon. Uju Onwudiwe described him as  “a reliable, trusted and experienced member of the House” and that they “promised to work  together to achieve a viable House of Assembly.”

Hon. Eddy Obinna representing Aboh Mbaise State Constituency described Rt. Hon. Speaker Kennedy Ibe as a “round peg in a round hole,” assuring that “there will be no more rumbles in the State House of Assembly.”

Also, Hon. Crown Michael Njoku of Ihitte Uboma State Constituency said that all members of the House of Assembly with the exception of very few are fully in support of the emergence of the Speaker and that with Rt. Hon. Ibe on the leadership seat they will now go into serious business and bring out good motions and bills that will move Imo State forward.

In his speech, the Speaker, Rt. Hon. Kennedy Ibe thanked the Governor for finding time to receive them and prayed God to help him leave up to the expectations of his colleagues and Imo State in general.

He promised that the House under his watch will be “productive, efficient and effective” and that he will not take his unanimous election by his colleagues  for granted.

He apologized for the past distractions associated with the House of Assembly and promised a “viable and vibrant House that will support the 3R mantra and assist his Excellency move Imo State to the zenith level.”

Those present at the event were: the Chairman of Imo State APC, MacDonald Ebere, his predecessor, Marcellinus Nlemigbo, Secretary to State Government, Chief Cosmas Iwu,  Chief of Staff Government House,  Barr. Nnamdi Anyaehie,  Attorney General and Commissioner for Justice,  Barr. C.O.C Akaolisa, Commissioner for Information and Strategy, Declan Emelumba and other top government officials.

The Speaker was accompanied by the Deputy Speaker, Rt. Hon. Chyna Amara Iwuanyanwu, the Majority Leader, Hon. Kanayo Onyemaechi, the Majority Whip, Hon. Arthur Egwim, the two former Speakers: Rt. Hon. Chiji Collins and Rt. Hon. Paul Emeziem were all present.

Also present was the Imo APC Secretary, Engr. Greg Madu.

Buhari Seeks Senate Nod For New DG Of NIPSS

By
Ayodele Oni
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Prof Ayo Omotayo

By Ayodele Oni

President Muhammadu Buhari, has forwarded the name of Prof Ayo Omotayo to the senate for approval as Director-General of the National Institute for Policy and Strategic Studies, (NIPSS).

The request was contained in a letter read on Tuesday during plenary by the Senate President, Ahmad Lawan, moments after the chamber resumed plenary from its eighteen working days recess.

The Special Assistant (Press) to President of the Senate, Ezrel Tabiowo disclosed this in a statement titled, ‘Buhari wants Senate to confirm Prof. Omotayo as NIPSS DG,’ issued on Tuesday.

According to him, President Buhari, in the letter, sought the confirmation of Prof Omotayo as Director-General of the NIPSS in accordance with the Section 5(2) of the NIPSS Act 2004.

The letter was titled, ‘Request for confirmation of the appointment of Prof. Ayo C. Omotayo PhD as Director-General, National Institute for Policy and Strategic Studies (NIPSS).’

It stated that the action was, “In accordance with the provision of Section 5 subsection 2 of the National Institute for Policy and Strategic Studies Act 2004.

“I write to present for confirmation by the Senate, the appointment of Prof. Ayo C. Omotayo as Director-General, National Institute for Policy and Strategic Studies (NIPSS).

“The nominee’s CV is attached herewith. It is my hope that the Senate will consider and confirm the nominee in the usual expeditious manner.”

Ondo: Estate Surveyors, Valuers, Want Quick Processing Of Certificate Of Occupancy

By
Ayodele Oni
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Chief Emmanuel Wike

By Ayodele Oni

President and Chairman of Council, Nigerian Institution of Estate Surveyors and Valuers, Chief  Emmanuel Wike, has observed that delay in processing Certificate of Occupancy and other documents are responsible for late processing of bank loans and execution of projects.

Chief Wike spoke in Akure, Ondo state on Tuesday, while briefing the press on the outcome of a meeting members of the council held with Governor Rotimi Akeredolu.

He pointed out that “Processing of Certificate of Occupancy and other vital documents, such as Governor’s Letter of Consent is not unconnected to shortage of staff in the processing offices.

“Meanwhile, these documents are required by financial institutions for approval of loan to finance housing and developmental projects, which in turn could earn the government more income.

“We made an appeal for full professionalization of the Land department, with Registered Estate Surveyors and Valuers heading every unit. This would ensure and improve the efficiency of the department.

Other demand tabled before the Governor, according to him, include “the creation of the position of the Valuer-General in the state, just as we have the Auditor-General, Accountant General, Solicitor-General, Surveyor General etc.

“The establishment of the office would enhance the contribution of our profession to the development of the state in as much as we have a common goal, which is, to have a well governed state, where democratic governance delivers to the need of its people.

“We also appealed for the constitution of the Land Use and Allocation Committee with Estate Surveyors and Valuers taking prominent positions in accordance with S.2.2 L.U.A, CAP 202 LFN 1990. Mr. Governor is expected to expedite action on this.

“Establishment of Valuation and Rating Department. It is on record that in 2008 the establishment of Valuation and Rating Department under the Ministry of Local Government and Chieftaincy Affairs was approved by the then Executive Governor.

“We appealed to Mr. Governor to consider the establishment of the department in all the Local Government areas, with Estate Surveyors and Valuers taking charge for the simple reason that the establishment would boost the revenue of the Local Governments.

“Land Acquisition/Compensation. We passionately appealed to Mr. Governor that in subsequent Land Acquisition/Compensation Assessment, especially for road construction, road widening, and creation of new housing estates, professional Estate Surveyors and Valuers in the state should be considered before colleagues outside the state.

“Estate Surveyors and Valuers in Ondo State have contributed in no small measure to the development of the state.

“Effective January 2013, the African Union adopted accrual based International Public Sector Accounting Standard (IPSAS) in its efforts to modernize accounting and financial management policies and operational system and process.

“The Federal Executive Council at its meeting held on 28th July, 2010 approved the migration and implementation of IPSAS in all Public Sector entities by the three tiers of Government.

“We advised Mr. Governor to fully implement the policy and compliment it by conducting Valuation of all government’s fixed assets, using the professional services of Estate Surveyors and Valuers who are to be engaged as independent Valuers.”

Nigerians Groan Over Price Of Cooking Gas; NALPGAM Blame VAT, Custom Duties

By
Akinwale Kasali
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0

By Akinwale Kasali

For an average Nigerian, the easiest and fastest way of Cooking meals is the use of cooking gas.

Sadly, this has become impossible due to the hike in price.

Femi Abdusalam, a resident in Lagos State lamented the hike in the price, stressing that few months back, 12.5kg cylinder was sold between N4,800 to N5,300, but it increased to N8,000-N8,500 in less than two months.

Also, Regina Azubuike, said that the hike in the price of cooking gas was quite alarming, especially given the fact that no reason had been given for the increase.

Azubuike added that the increase has further compounded the hardship of Nigerians as many would now turn to using firewood and charcoal for cooking.

“Cooking with firewood is dangerous to the health, but with the economic situation and the non availability of resources to purchase cooking gas, that is the only alternative available”, she lamented.

Another resident, Bunmi Ajisafe, a trader, expressed worry over the continuous increase in the price of cooking gas, noting that the hike had further worsened the economy of her family.

Ajisafe said she was surprised at the astronomical increase in the price of commodities these days, not only gas.

”It is so frustrating that you are not sure of the next price you would meet when you go to the market. I am really worried and surprised. I thought Nigeria is a country with an abundance of gas,” she said.

She appealed to the Federal Government to urgently intervene, otherwise, she may have to return to the use of a kerosene stove, charcoal or firewood.

Tope Ogunfowokan, said that Nigerians were yet to recover from the hardship brought on by COVID-19 which crippled many businesses and rendered many people jobless, now there is hike in prices of Cooking Gas just like that of food commodities.

Ogunfowokan also said she remembered there was a time the Federal Government was campaigning for citizens to key into cooking with gas.

“Many people did nothing to that effect, but people gradually keyed into it. Then the present gas situation; it is frustrating and unimaginable and the Government should intervene,” she said.

The price of cooking gas in Nigeria has more than quadrupled, with importers of Liquefied Petroleum Gas, LPG, stopping the importation of the commodity, accruing this development to the high importation of the commodity which stands at about 65 per cent of LPG, while domestic production accounts for 35 per cent.

However, the Executive Secretary, Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM, Bassey Essien, blamed the hike on the reintroduction of customs duty and Value Added Tax on imported LPG.

Essien said that these were the basic reasons for the halt in its imports by importers.

Making this statement on Monday, 8th November, 2021, he stated that there were several other issues, stressing that if the halt in LPG imports should drag further, the supply of the commodity domestically could suffer severe drop.

It would be recalled that NALPGAM had written an open letter to the Minister of State for Petroleum Resources,  Timipre Sylva, urging the Minister to urgently intervene in the skyrocketing price of LPG in Nigeria.

The open letter was signed by the National President, NALPGAM, Olatunbosun Oladapo, and Essien.

NALPGAM is the umbrella body of operators of LPG bottling plants licensed by the statutorily empowered government agencies to carry out the business of safe bottling of cooking gas.

Essien also stated that due to the fears expressed by importers who had stopped importation of LPG into the country, cooking gas sourced from the Nigeria Liquefied Natural Gas company was now selling in the region of N11 Million per 20 metric tonnes truck. This, he said, was with a cumulative daily increase of N300,000 to N500,000 per 20MT truck without the imposition of VAT and customs duties.

“The NLNG supplies LPG to the terminals and these terminals sell to the marketers and at times in a day, the price can go up by about three times.

“Take for example, I was granting an interview on Saturday morning on this same issue and that morning some terminals were selling for N11.6m to N11.7m, but as I stepped out of the interview, it had increased to N12m.

“And the annoying part is that since about a week or two now, nobody has been importing gas because of the issues with customs and VAT. And this is because since the position on these issues have not been clearly stated, importers have to pause.

“The customs is even clamping down on importers and so they cannot import anything, which means that the product in circulation across the country is from the NLNG.

“But when there are issues like this, some unscrupulous people will want to capitalise on the situation, which they are doing, because right now, from what we’ve got, the price at which NLNG product gets to Lagos is about N7m, but you get it at N11m and above. On the price increase, the association stated that despite the decade of gas policy and measures by government, the cost of cooking gas had continued to rise.

“Despite the strategies employed by the government with its anticipated benefits, the reverse seems to be the case with the bulk of LPG consumed in the country largely imported.

“The availability of the product for domestic consumption has been skewed majorly to 65 per cent import dependence while only 35 per cent has been attributed to local supply.

“The obvious devaluation of the local currency, inability to access foreign exchange by importers, the increasing international price against which the cost of domestic LPG is indexed as well as the anticipated re-imposition of VAT and customs duties with retrospective application have all contrived to push the price of LPG upward”, Essien explained.

He stressed further that , “It has been observed that the above factors have seriously increased the price of gas to the extent that a 12.5kg gas which sold for N3,000.00 in January, 2021, now sells for between N10,000 to N10,200, depending on area of the country.

“The daily galloping price of gas if not properly handled may derail the lofty ideals of the gas expansion plans of the government as well as the job opportunities the programmes were intended to create.” The association stated that the price of LPG had exponentially skyrocketed over the last few months.

He said the cost of 20MT of LPG as of January 2020 was N3.4m, but by December 2020, it had gone up to N5.4m; N5.6m in January, 2021, N6m in February, 2021 and N11m in October, 2021 without any signs of abatement. Officials at the Federal Ministry of Petroleum Resources and the Nigerian National Petroleum Company Limited promised to revert when contacted.

It would be recalled that Sylva, had in August this year described LPG as a deregulated product and stated that government could not determine its price, but promised to meet with marketers on concerns about the persistent price hike.

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