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NNPCL Confirms Federal Government’s Role in Subsidizing Petrol Amid Nationwide Shortfalls

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NNPCL Confirms Federal Government’s Role in Subsidizing Petrol Amid Nationwide Shortfalls

The Nigerian National Petroleum Company Limited (NNPCL) has confirmed that the Federal Government continues to subsidize petrol imported into the country. Despite recent denials of paying fuel subsidies to marketers over the past nine months, the NNPCL disclosed that it has been selling petrol at a price below its landing cost, as directed by the government.....KINDLY READ THE FULL STORY HERE▶

Subsidy Confusion Clarified

Speaking in Abuja, the company’s Chief Financial Officer, Alhaji Umar Ajiya, clarified the situation. Ajiya emphasized that no direct payments have been made by the NNPCL to marketers under the guise of subsidies in the last eight to nine months. Instead, the government has instructed the NNPCL to sell petrol at a price significantly lower than the actual landing cost, with the shortfall being reconciled between the company and the federal government.

“In the last eight to nine months, NNPCL has not paid anybody a dime as a subsidy; no one has been paid kobo by NNPCL in the name of subsidy. No marketer has received any money from us by way of subsidy,” Ajiya stated. He further explained that the NNPCL has been handling the importation of Premium Motor Spirit (PMS) and selling it at a government-mandated price, with the difference being managed between the Federation and the NNPCL.

Financial Arrangements and Supplier Relations

NNPC also highlighted that credit lines are common in downstream businesses, aligning with global commercial practices. In line with this, the NNPCL has maintained open credit agreements with PMS suppliers, allowing for a dynamic payment process.

Dapo Segun, the Executive Vice President of downstream at NNPCL, added that the company’s established credibility has facilitated these credit agreements. While addressing concerns about the company’s outstanding payments to suppliers, Segun assured that the amount owed is not as high as previously reported, refuting claims of a $6.8 billion debt.

“The relationship between us and our suppliers is crucial to ensure that we keep faith in making these payments, which we have done over time,” Segun remarked. He explained that the outstanding figure fluctuates based on the timing of payments and product supplies, emphasizing the NNPCL’s commitment to maintaining a steady supply of PMS across Nigeria.

Government’s Stance on Fuel Subsidies

Despite the Federal Government’s repeated denials of subsidizing petrol, major marketers have pointed out that the landing cost of petrol currently exceeds N1,000 per litre. As the sole importer of petrol, the government compensates the NNPCL to provide fuel to Nigerians at a subsidized rate.

However, this arrangement has contributed to frequent fuel shortages across the nation. Experts are increasingly calling for an end to fuel importation and a transition to a more sustainable solution for meeting Nigeria’s energy needs.

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‘Kwankwaso Is More Experienced Than Peter Obi’ – Buhari’s Ex-Aide Declares.

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Ahmad made the assertion in a post on his X handle, maintaining that Kwankwaso’s decision to accept the position of running mate should be seen as an act of political modesty rather than an indication that he is less qualified than Obi.....KINDLY READ THE FULL STORY HERE▶

According to the former presidential aide, the relationship between the two politicians should be viewed as one of equals rather than that of a superior and a subordinate.

“To be entirely candid, the political dynamic between Rabiu Kwankwaso and Peter Obi ought to be characterised as one of collegiality between peers, rather than a hierarchy of principal and subordinate,” he wrote.

He added, “The choice to assume a deputy role beneath Obi ought to be interpreted as a testament to political modesty.”

Making a case for Kwankwaso’s political experience, Ahmad recalled that the former Kano State governor served as Deputy Speaker of the House of Representatives before Obi became a prominent figure in national politics.

He also noted that Kwankwaso governed Kano State, which he described as Nigeria’s most populous and politically influential state, for two terms and served as a federal minister.

“If we are assessing political experience, Sen. Kwankwaso probably has a longer and more impressive political background than Peter Obi,” Ahmad stated.

In contrast, the former presidential aide argued that Obi’s major public office experience was limited to his tenure as governor of Anambra State.

“Unlike other candidates, Peter Obi was just a former governor of Anambra State,” he wrote.

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‘I Have Stopped Impregnating Women’ – 2Baba Makes Shocking Revelation.

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Nigerian music star Innocent Idibia, popularly known as 2Baba, has declared that he no longer impregnates women.....KINDLY READ THE FULL STORY HERE▶

The singer made the statement on Saturday during a live performance at Rehab Lounge in Calgary, Canada.

While performing his hit song True Love, 2Baba paused to interact with the audience and playfully asked the women present to identify where his true love was.

He jokingly wondered whether she was standing at the back of the venue or somewhere in front of him before making a remark about his experiences with women.

The award-winning musician told the audience that he had stopped getting women pregnant, adding that he had been making the same confession wherever he performed recently.

He said, “For the purpose of this show, I will pretend like I’ve never seen anything before. Where’s my true love? Is she back there? Is she right here? Is she somewhere here? Where’s my true love? You people shouldn’t put out me for trouble.

“As I said, some ladies they fear to shout. See, everywhere I go these days, I make this confession. As I say, some ladies they fear to shout. I say, I don’t fear to shout. Because I don’t stop to dey give woman belle. Ask anyone, they’ll tell you, I don’t do such thing things again.”

The singer’s comment comes amid public interest in his personal life and relationships.

2Baba was previously married to Nollywood actress Annie Macaulay-Idibia. The couple announced their separation in January 2025 after having two children together.

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NPFL Cracks Down! Abia Warriors, Katsina United, Warri Wolves Hit With Sanctions.

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Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.....KINDLY READ THE FULL STORY HERE▶

Abia Warriors were fined ₦3.2 million for failing to provide adequate security as agreed during the pre-match technical meeting ahead of their encounter with Niger Tornadoes.

The Umuahia-based club was also found guilty of an attempt by one of its officials to disrupt the live broadcast of the match by harassing a crew member of the league’s broadcast partner.

As part of the disciplinary measures, Abia Warriors’ multimedia officer, Chidera Favour Igwe, has been suspended from all NPFL match activities for five matches.

Katsina United, meanwhile, were fined ₦2 million for failing to provide adequate and effective security during their home fixture against Plateau United.

The club was also sanctioned for allowing supporters to encroach onto the field of play during the encounter.

Warri Wolves Receive Heaviest Punishment

Warri Wolves have been handed the most severe sanctions following the unruly behaviour of their supporters during Sunday’s Matchday 10 clash against Kano Pillars in Ozoro.

The Seasiders were fined ₦4.2 million and docked three points and three goals from their accumulated tally. The club was also ordered to play its next three home matches behind closed doors.

According to the NPFL, Warri Wolves failed to provide adequate security at the stadium, resulting in an assault on match officials after the final whistle.

The league further disclosed that the second assistant referee sustained a nose injury and was left bleeding during the incident.

The NPFL stated that all three clubs have 48 hours from the date of notification to appeal their respective sanctions in accordance with the league’s disciplinary procedures.

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