Nigerian Government To Reduce Price Of Petrol To N85 Per Litre From Jan 1, 2016

Government would on January 1 next year reduce the pump price of the Premium Motor Spirit (PMS) to N85 per litre.
 
The Minister of State for Petroleum, Dr. Emmanuel Ibe Kachikwu broke the news to journalists in the Port Harcourt Refinery Company (PHRC), where he spent Christmas inspecting the plant.
 
Asked when would the Federal Government release the new price temperate of the Petroleum Product Pricing Regulation Agency (PPPRA), he said that he approved the new price for the agency on Thursday.
Pressed to reveal when the new price will become effective, Kachikwu, who is also the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) said "like I said, we have done a modulation calculation and it is showing us below N87. I imagine that if PPPRA publishes it today, it will become effective immediately. But the 1st of January that is when we are looking at."
 
According to him, the new price is below the current N87 per litre and it would now convince Nigerians that the pricing  modulation that the Federal Government promised to embark on a few days ago was not a trick.
He noted that following government's analysis and research, it has been realized that the country can fluctuate the fuel market in accordance with the crude oil market fundamentals.
 
Justifying government's reasons for scrapping the Petroleum Support Fund otherwise known as oil subsidy, Kachikwu explained that  government can no longer afford to subsidize the product following the fraud that has attended its operation.
 
He added that it has become clear that government earnings are dipping on daily basis.
 
His words: "It is out I signed off on it yesterday (Thursday). I imagined that in the next couple of days the marketers would get advice on that. The nice thing about the PPPRA, where I signed up on it yesterday is that the price will be far below N87.
 
So for the first time people will understand that the pricing modulation I was talking about is not a gimmick. It is for real. We have gone to find out how we will be able fluctuate this market to reflect what the reality of  crude market is. The objective is that one, we cannot afford to continue to subsidize .
 
We can't even understand where those subsidies were going to. There is a lot of fraud elements in it so we need to cut that of.
 
The second is  the earning capacity of the Federal Government is deteriorating by the day  with lower prices of crude and come out more."
He submitted that from the application market realities for the pricing modulation, government has discoverd that petrol would sell for either N85 or N86 per litre.
 
The minister recalled that it was from this axiom that President Muhammadu Buhari announced that the price of petrol remains N87 at the moment.
 
Kachikwu said: "But in applying that where we landed when we did the analysis for the very first time was about N85 or N86 so it is below N87.
And maybe the first price that will come will reflect it. That was why Mr. President said that prices will be N87 for now. And that is what we have in mind."
 
On the security of the pipelines, he said that government had tried stopping the menace with military intervention  to no avail before it engaged some private  contractors who had worked with the majors for the crude pipeline management.
 
According to him, the private contractors have taken over Atlas Cove, Mosimi  and they would  be extending the surveillance to Ilorin between yesterday and today.
 
They will also look at the Port Harcourt and Aba axis, he stressed.
The minister said that government is now beginning to have a clue of how to tackle pipeline insecurity, adding that it is far more expensive to convey petroleum and products through pipelines than trucking them by road.
He said from the briefing he got from the inspection of the refineries , they are close to re-opening.
 
"In the next one week, we are ready to see products out of here", he disclosed.
 
Kachikwu said that a lot of the rehabilitation of the refinery was being done with intensive manual labour of the staff since paucity of fund affected the holistic change that is required in the factory.
 
He said that the refinery is now aging so one fault comes up after the other even after repair but that would stop when government repairs the plant holistically early next year.
 
According to him, about 5.5million litres daily of PMS is expected from the refinery in the next few days. Other products to come from the plants, said Kachikwu "are AGO, Kero and others. Where we love to be is to have half of the consumption of this country at the refineries at the minimum, which is about 20million litres. But where we are with the sleepless night I have had in the last few weeks any molecule is significant.
 
Kaduna will still be doing 2.3million. Let's start from there. And that is doing 60 per cent performance. This is still an assumption. I will like to see them getting closer to 80 or 90. By the time they time they do that we will be getting 11 to 12million litres out of this place."



 
By PRNigeria

Lola Omotayo-Okoye recounts how she was molested by priest, beaten daily by ex-lover

Lola Omotayo-Okoye, wife to one of the P-square duo, has revealed how she was molested while in high school by a priest, noting that for a really long time, she has continued to blame herself, even as she could not tell anyone, not even her family, about it.

Lola shared her story at the just concluded Kinabuti Dare2Dream project, encouraging and motivating young ladies to pursue their dreams.

According to her, “You shouldn’t let your past determine what your destiny will be, we all have our past whether good or bad or makes us unhappy, we all had a life that we lived that we are not happy about, you shouldn’t let it bother you from succeeding.

“When I was a young girl in my early teens in high school, I was molested by a catholic priest, I blamed myself, I didn’t tell anyone because I was ashamed, couldn’t tell anyone cos I felt everyone would blame me, so I carried on the guilt and bitterness with me for years. I was filled with hate and I became a angry person, I was rebellious, I didn’t want to listen to anybody and because I wanted to be expelled from school to avoid seeing this person, I would do so many terrible things, everything around me was just so negative, I felt I wasn’t good enough.

”Speaking further, Lola disclosed how she was physically abused by an ex-boyfriend in the University.

She continued: “Anyway I moved on to the university, met the love of my life and i’m like, okay this guy is cool, he loves me and then he started to abuse me. I was beaten black and blue all the time, in front of friends, in public and at a point I felt, you know what I am not worthy enough, there is nothing about me that is nice, nobody loves me but I hid this from my family.

“I felt like a loser, so it was hard for me to focus. One day I woke up and said I am going to change my story and I dumped that person, focus on my education and decided to be serious and be something. I decided to get a job and go to school full time in America.

"I worked hard. My parents were sending me money cos I didn’t tell them I was working but I was working because I wanted to be independent. I didn’t want to depend on any man or on my parents even though they would have done anything for me, so I did all sorts of job; I was a make up artiste, I worked in a cafe, school library, I did so many things and I didn’t realise that these jobs were building me up as a person, building my resume, my confidence.


“People began to like me because I was adding value to their lives. At work I was excellent and so was I in school and that built me as a strong woman and at some point, I sought counseling to get over my molestation issues where I was made to see reasons why I wasn’t at fault cos I was a child then. Today I am accomplished.

“You can be whatever woman you want to be but you have to believe in yourself, if they reject you today, it doesn’t mean you should let your dreams die, you have something unique about you.

“Look at my husband,” she continued, “when I met him peeps were like what are you doing with him, he has nothing but I stood my ground and choose to stick with him cos he had a dream. He and his twin brother did not let their dream die, they worked hard; look at them today! I stuck by him cos he had focus and drive and today I am happy, I have a good life, we are happy and we have got a beautiful family. No one can make you a loser,” Lola added.



Source: Daily Post NG