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Marketers Petition Tinubu Over Plummeting Diesel Prices, Senate Delays Sabotage Hearing

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Devakumar Edwin, Vice President of Dangote Industries Limited, revealed that petroleum marketers in Nigeria have raised concerns over the pricing of locally refined diesel.

These marketers have formally approached President Bola Tinubu, expressing dissatisfaction with the current price trends.

According to Edwin, diesel prices have seen a significant reduction, dropping from N1,200 per litre to N900 per litre, and this has had an adverse effect on the marketers’ businesses.

He shared these insights during a Twitter Space session hosted by Nairametrics on Thursday.

During the session, Edwin explained that the marketers are worried about the declining prices, which, in their view, threaten their business profitability.

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They believe the situation could impact the overall dynamics of the oil and gas industry if not addressed promptly.

Additionally, the Senate recently announced a delay in the public hearing concerning alleged sabotage in Nigeria’s petroleum sector.

This development was confirmed by Senator Opeyemi Bamidele, the Leader of the Senate and Chairman of the Senate Ad-hoc Committee, who stated that the hearing would be postponed.

The issue of sabotage has been a topic of concern, and stakeholders hope the eventual hearing will shed light on the underlying issues affecting the industry.


 

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FG Extends NYSC Orientation Camp From 3 to 6 Weeks

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The Federal Government has announced an extension of the NYSC programme. It can be noted that the NYSC camp orientation is usually for three weeks before the youths go out to gain experience, employment, and serve the country for one year.

However, the FG announced that the passing-out parade from camp will be cancelled, and corps members will now spend six weeks in camp instead of three weeks.

“The first two weeks speak to laying a foundation on civic responsibility. The next two weeks will look at career mapping, basic accounting literacy skills, business planning and access to finance. The final two weeks, we intend to have focused corps-stream-specific training aligned with the corps member’s designated stream based on his choice, academic background and skills profile.”


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Is Lagos Sinking? Residents Raise Concerns as Flooding Worsens

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With the rainy season in Nigeria, many are wondering if the increase in flooding has now become the new normal. Lots of videos, clips, and complaints have literally flooded online, showing how badly roads, homes, and other places have been affected.

We were used to hearing about the rise of water on the Island since it is literally surrounded by water, but now floods are being spotted on the Mainland as well.

We may not know exactly why this is happening, but one thing is certain—we urgently need a lasting solution.


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Federal Government Clarifies Position on Proposed Tax Recommendations

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The federal government reacted to claims stating that the new tax rules will be imposed on telecommunications and petroleum products for Nigerians.

The FG released a statement to explain the process and stated that there is no intention to place taxes on telecom and petroleum products and services.

“Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”


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