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Rising Fuel Prices Put Nigerians in Hardship

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The continuous rise in petrol prices in Nigeria has created significant challenges for many, particularly low-income earners, who are finding it increasingly difficult to manage daily expenses.

The escalating cost of transportation, driven by the fuel price hike, has become a major burden for workers, students, and traders alike, making the commute to work or the market a costly endeavor.

The financial pressure is mounting, especially for households already struggling to make ends meet, adding to their overall anxiety about survival.

The recent price hike, which took effect last week, has seen petrol prices soar to unprecedented levels, ranging between N850 and N1,400 per liter depending on the location.

This has resulted in a ripple effect, causing the prices of essential goods and services to rise as well.

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Across Nigeria, protests have erupted in response to the dire situation, with citizens demanding immediate action from the government to reduce the cost of living and ease the burden on the population.

A popular slogan, #EndBadGovernance, has emerged from these protests, reflecting the public’s frustration.

Religious and civic leaders have also expressed their concerns. Archbishop Matthew Kukah, the Catholic Bishop of Sokoto Diocese, called on President Bola Tinubu and his administration to take urgent measures to alleviate the suffering of Nigerians.

He emphasized that the government must address the skyrocketing fuel prices and the insecurity plaguing the country.

Similarly, the Arewa Youth Consultative Forum (AYCF) has voiced strong opposition to the fuel price increase, warning the government against ignoring the struggles of ordinary Nigerians.

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The forum’s President-General, Yerima Shettima, criticized the government’s handling of the situation, stating that the rising costs have left many Nigerians on the edge.

Several Nigerians shared their stories, highlighting the hardship caused by the fuel price hike.

Amina Abubakar, a sales representative, expressed her difficulty in managing her budget as her transportation costs have significantly increased, leaving little room for basic necessities like food and rent.

Eche John, an Abuja resident, lamented that his daily commute has doubled in cost, with no corresponding increase in salary, leading to a strain on his finances.

The increase in transportation expenses has also driven up the price of everyday goods, such as a sachet of milk, which now costs N300 instead of N200.

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The worsening situation is pushing many Nigerians to consider drastic measures. Johnson Okpe, a Point of Sale (POS) operator, revealed that he might have to quit his job because his salary can no longer cover his transportation costs.

Similarly, Chioma Eze, a salesgirl commuting from Mararaba to Wuse market in Abuja, expressed frustration that her daily transport expenses have more than doubled, forcing her to consider leaving her job.

Secondary school teacher Auwal Ibrahim shared a similar story, noting that more than half of his salary now goes towards transportation, leaving him with little to cover other expenses.

The challenges have also forced some workers to resign from their jobs. Private security personnel Hassan Abdul and housekeeper Ekaete Frederick both left their positions due to the unsustainable transportation costs.

Both expressed concerns about finding alternative employment or ways to make ends meet, with Ekaete contemplating hawking sachet water as a possible alternative.

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Commercial motorcyclist Uche Emeka pointed out that the high cost of transportation has led many Nigerians to opt for walking instead of using motorcycles, significantly reducing his income.

The worsening economic situation has raised fears about an increase in crime, as many Nigerians, pushed to their limits, may resort to illegal activities out of desperation.

Paul Owoicho, a concerned citizen, warned that hunger and frustration could lead to a rise in criminal behavior if the government does not take swift action to address the crisis.

As the pressure on low-income earners continues to mount, Nigerians are calling for urgent intervention to address the high cost of fuel, food, and transportation.

Without immediate action, the financial strain could push many more people into poverty, exacerbating the already difficult living conditions across the country.

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Bwala Says Nigeria Dodged a Bullet with Peter Obi’s 2023 Loss

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In a recent post on social media platform X (formerly Twitter), political commentator Bwala criticized former Labour Party (LP) presidential candidate Peter Obi’s recent public address. Bwala expressed concern over Obi’s delivery, stating it lacked factual substance and logical coherence, likening it to “a tinkling cymbal or a sounding brass.”

Bwala further remarked that Obi appears to have not moved past the disappointment of the 2023 presidential election defeat. He suggested that Obi’s current stance might be influenced by his perceived role in the opposition’s dynamics leading up to the 2027 elections.

Reflecting on Obi’s 2023 electoral journey, several factors have been identified as contributing to his loss. These include challenges in forming strategic alliances, particularly with northern political figures, and debates over his performance during his tenure as Anambra State Governor. Additionally, internal party disputes, such as allegations of financial mismanagement within the LP, have surfaced.

In the aftermath of the election, Obi’s campaign reportedly allocated substantial funds toward legal challenges against the election results. Aisha Yesufu, chair of the fundraising team, disclosed that approximately ₦744.5 million was spent on litigation, with total campaign income and expenses both nearing ₦1.4 billion.


 

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Tinubu Reshuffles NNPC Board Removes Kyari and Appoints New CEO and Chairman

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In a significant move to reform Nigeria’s oil and gas sector, President Bola Ahmed Tinubu has reconstituted the board of the Nigerian National Petroleum Company (NNPC) Limited. This restructuring includes the removal of Chief Pius Akinyelure as chairman and Mallam Mele Kolo Kyari as the Group Chief Executive Officer (GCEO), along with other board members appointed in November 2023.

Moving on, the newly appointed 11-member board features Engineer Bashir Bayo Ojulari as the Group CEO and Ahmadu Musa Kida as the non-executive chairman. Adedapo Segun, who assumed the role of Chief Financial Officer (CFO) in November, retains his position on the reconstituted board.

Representing Nigeria’s geopolitical zones, the six newly appointed non-executive directors are:
  • Bello Rabiu (North West)
  • Yusuf Usman (North East)
  • Babs Omotowa (North Central), former Managing Director of the Nigerian Liquefied Natural Gas (NLNG)
  • Austin Avuru (South-South)
  • David Ige (South West)
  • Henry Obih (South East)

Additionally, Mrs. Lydia Shehu Jafiya, Permanent Secretary of the Federal Ministry of Finance, and Aminu Said Ahmed from the Ministry of Petroleum Resources will serve as representatives on the board.

President Tinubu emphasized that this restructuring aims to enhance operational efficiency, restore investor confidence, boost local content, drive economic growth, and advance gas commercialization and diversification. Indeed, he has directed the new board to conduct a strategic portfolio review of NNPC-operated and joint venture assets to ensure alignment with value maximization objectives.

Profiles of Key Appointees:
1. Ahmadu Musa Kida

He is the new non-executive chairman from Borno State, holds a degree in civil engineering from Ahmadu Bello University, Zaria, and a postgraduate diploma in petroleum engineering from the Institut Francaise du Petrol (IFP) in Paris.

Also, he has held significant positions at Elf Petroleum Nigeria and Total Exploration and Production, including Deputy Managing Director of Deep Water Services at Total Nigeria.

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In 2024, he became an Independent Non-Executive Director at Pan Ocean-Newcross Group. Beyond his oil industry career, Kida is known for his tenure as president of the Nigerian Basketball Federation.

2. Bashir Bayo Ojulari

Similarly, he is the new Group CEO from Kwara State, graduated in Mechanical Engineering from Ahmadu Bello University, Zaria. He began his career at Elf Aquitaine and later joined Shell Petroleum Development Company of Nigeria Ltd in 1991.

In addition, Ojulari has international experience, having worked in Europe and the Middle East in various capacities, including petroleum process and production engineer, strategic planner, field developer, and asset manager.

In 2015, he became the Managing Director of Shell Nigeria Exploration and Production Company (SNEPCO). Most recently, he served as Executive Vice President and Chief Operating Officer of Renaissance Africa Energy Company, leading a consortium in the acquisition of Shell’s equity holdings in Nigeria for $2.4 billion.

Moreover, Tinubu administration has been implementing reforms in the oil sector to attract investment. Also, In 2023 NNPC reported $17 billion in new investments, with a vision to increase this to $30 billion by 2027 and $60 billion by 2030.

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Furthermore, the administration also aims to raise oil production to two million barrels daily by 2027 and three million by 2030, while increasing gas production to eight billion cubic feet daily by 2027 and ten billion cubic feet by 2030.

Additionally, President Tinubu expressed gratitude to the outgoing board members for their dedicated service, particularly mentioning their efforts in rehabilitating the Port Harcourt and Warri refineries, which resumed petroleum product production after prolonged shutdowns. He extended his best wishes for their future endeavors.


 

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Peter Obi Visits Katsina to Console Governor Radda Over His Mother’s Death

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In a heartfelt gesture of solidarity, Peter Obi, the former presidential candidate of the Labour Party, journeyed to Katsina State to personally extend his condolences to Governor Dikko Umaru Radda following the loss of his mother, Hajiya Safara’u Umaru Barbari.

The matriarch passed away on Saturday night at the age of 93, leaving behind a legacy of strength and wisdom that profoundly impacted her community.

During his visit, Obi expressed deep sympathy for the governor and his family, acknowledging the profound grief that accompanies the loss of a mother. He conveyed his prayers and support, hoping to offer some comfort during this period of mourning.

Obi emphasized his solidarity with Governor Radda, his immediate family, and the extended Barbari family as they navigate this challenging time.

Hajiya Safara’u Umaru Barbari was celebrated as a woman of remarkable strength and dignity, whose wisdom and grace touched the lives of many. Beyond her role as Governor Radda’s mother, she was a nurturing figure to generations, guiding not just her family but also serving as a beacon of inspiration in her community.

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Her children include Alhaji Kabir Umar Radda, the current Village Head of Radda, and Hajiya Hauwa Umar Radda, former wife of the late President Umaru Musa Yar’adua.

The passing of Hajiya Safara’u has elicited condolences from various quarters. President Bola Tinubu described her as a selfless woman who nurtured generations of leaders who excelled in different endeavors. He noted that she left behind a legacy of integrity and community service that has permeated far and near.

Similarly, the Southern Governors Forum (SGF) expressed their condolences, acknowledging her immense role in raising and nurturing her children, including Governor Radda. They noted her lifelong service to her community and the people of Katsina State, noting that her contributions were a source of comfort to those mourning her loss.

The Northern States Governors’ Forum also extended their heartfelt condolences, describing Hajiya Safara’u as a virtuous and upright mother who lived a fulfilled life marked by deep devotion to Allah and unwavering service to humanity.

They noted that her passing was a significant loss, particularly at a time when her wisdom and elderly counsel were still much needed by her children, grandchildren, and the current generation of leaders.

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In his message, Obi prayed that the Almighty Allah forgives her sins and grants her eternal rest in His kingdom. He also wished Governor Radda and his family the strength to bear this loss with fortitude and grace.


 

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