
Sunday, 3 April 2016
This is What Nigerian Soldiers Were Seen Doing Near Sambisa Forest (Photo)

FG Returns Petrol Subsidy again, Retains Official Pump Prices...

Subsidy on petrol was stopped in January after the review of the pricing template of the product by the government. It also announced that the current official pump prices of petrol would remain at N86 per litre when purchased at filling stations run by the Nigerian National Petroleum Corporation and N86.5 per litre when sold at outlets operated by other oil marketers.
The government further said petrol scarcity would end in a few days, but was silent on the specific day or date. Figures from the latest pricing templates of the Petroleum Products Pricing Regulatory Agency released on Saturday, showed that the Federal Government was paying N5.84 as subsidy on every litre of petrol sold at non-NNPC filling stations. The PPPRA is the agency of the Federal Government that regulates the prices of white products — petrol and kerosene, across the country. According to the agency, the Expected Open Market Price of petrol for non-NNPC stations as at April 2, 2016, was N92.34 per litre, against an official pump price of N86.5 per litre, leaving an under-recovery or subsidy of N5.84 per litre.
Similarly, the template for NNPC-run stations showed that the government was paying N5.80 per litre as subsidy, as the EOMP for outlets in this category was N91.80 per litre as against an official rate of N86 per litre. The EOMP is the actual cost of petrol without subsidy and comprises of the landing cost of the product as well as its subtotal margins like transporters charge, admin fee, dealers cost, bridging fund, etc.
On the retained pump price of petrol, the Acting Executive Secretary, PPPRA, Mrs. Sotonye Iyoyo, said, “The agency is retaining the retail prices of N86.00 for the NNPC, and N86.50 for the other marketing companies. The pump price of household kerosene also remains unchanged from what it was in the last quarter. “Therefore, marketers are advised to ensure that there is no price distortion in their respective retail outlets.
PPPRA, however, shall continue to monitor the global oil market performances, and come up, at appropriate time, with reasonable changes consistent with the newly-adopted price modulation principles.” On news making the rounds that the agency was planning to increase the petrol price, Iyoyo urged members of the public to ignore such rumour, as prevailing market indicators do not support such. She also called on motorists to desist from panic-buying, stressing that “PPPRA was working hard with other sister-organisations to ensure that the current supply and distribution challenges were resolved within the coming days.”
Meanwhile, the agency stated that it had released the second quarter allocations for the supply of petrol, based on the approval of the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu. It said, “In the latest release, the apex national oil company, the NNPC, has 41.74 per cent of the total allocation, while the rest of the oil marketing companies got a total allocation of 58.27 per cent.”
Borno Governor, Shettima Donates 10 Utility Vehicles To the Nigerian Army (Photos)







Adaeze yobo stuns In Tshirt dress (see photos)


Watch How A Female Fan Licked D’banj’s Sweat Off His Body On Stage (Photos + Video)

Boko Haram's Bomb Factory has been Destroyed By Nigerian Army (Photos)

“The troops of 155 Task Force Battalion, 21 Brigade, Nigerian Army on Thursday 31st March 2016, during clearance operations discovered and destroyed Improvised Explosive Device (IED) factory and cleared Boko Haram terrorists hide out in Wulwuta village, ahead of Jere, Bama Local Government Area.” “During the operation, the troops also killed 9 Boko Haram terrorists while one of our soldier was wounded in action.” “The troops recovered 1 laptop, 1 solar panel, a pair of Nigerian military desert and woodland camouflage uniform each, as well as bandolier vest and 6 ready IEDs pressure plates.
Other recoveries include a loaded pistol with registration number D557954, 3 rounds of 7.65mm, 13 rounds of 7.62mm (NATO) ammunitions and combat boots, amongst others.” “The gallant unit also rescued 21 persons held captives by the terrorists, comprising 8 men, 4 women and 9 children. They have been moved to the Brigade Headquarters for further care, screening and eventual hand over to the appropriate agencies.”
“It is significant to state that the ever vigilant and professional troops noticed that the terrorists were determined to cause maximum casualty on them by stuffing 2 empty artillery shells and other cartridges with IED and batteries ready to explode. They were however safely detonated by the Explosive Ordinance Device (EOD) team attached to the unit. “It is heart warming to state that the troops morale remains high and fighting efficiency is equally unprecedented.”


Hehe! PDP Chieftain Begs Buhari To Set Looters Free...

He expressed satisfaction with the judiciary in the handling of corruption cases but advised the federal government to be discerning in some of the matters. “We all know that there are good judges and good lawyers, and there are bad judges and lawyers, therefore, Buhari should ensure that corrupt cases are sent to credible judges and lawyers,” he said.
Subscribe to:
Posts (Atom)