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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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Ngozi Okonjo-Iweala Says Nigeria Lacks a Maintenance Culture

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The Director-General of the World Trade Organization (WTO), Ngozi Okonjo-Iweala, has spoken on Nigeria’s economy, stating that the country lacks a good maintenance culture.

She said “The fact is that endowments alone do not add value. Budgetary allocations alone do not lead to new roads or good maintenance.”

“We lack a maintenance culture in the country. I have to say that. I’m Nigerian, but we need that. We need better ports and digital infrastructure, and lower trade costs. Execution is what matters, and successful execution requires focus. It requires prioritisation.”


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Peter Obi Criticises President Tinubu’s Statement on Hunger

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Politician and former presidential candidate Peter Obi speaks on President Bola Tinubu’s comments regarding the rising hunger and worsening economic situation in Nigeria.

It can be noted that the President recently stated that hunger has always existed in Nigeria.

Peter Obi responded “I watched with deep concern the statement made by President Bola Tinubu to the Catholic Bishops, that there has always been hunger in Nigeria, even before he was born.”

“While it is true that hunger has been a part of human life and has existed in our country for decades, such a statement appears insensitive to the plight of the millions of Nigerians who face worsening economic hardship today.”


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Nigerian Army Launches New IED Training Programme

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Reports have been shared stating that the Nigerian Army has launched a new programme designed to train and improve the skills of engineers in tackling threats posed by Improvised Explosive Devices (IEDs).

The seminar is being organised by the 41 Engineer Brigade of the 1 Division Nigerian Army.

It was stated “Improvised Explosive Devices have become one of the greatest security threats confronting the Nigerian Army in ongoing counter-insurgency operations. Their widespread use has complicated military operations and humanitarian activities in conflict-affected areas.”


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