The Petroleum Products Pricing Regulatory Agency (PPPRA) on Thursday denied reports speculating an imminent fuel scarcity over Federal Government’s inability to pay fuel marketers’ N660 billion debt.
In a statement released in Abuja by the PPPRA spokesman, Mr Lanre Oladele, the agency said the report was misleading and “a gross misrepresentation of facts”.
”There were reports that fuel queues may soon return following the Federal Government’s inability to settle marketers’ N660bn debt and non-availability of foreign exchange to fund fuel imports.
”PPPRA wishes to state unequivocally, that these stories are gross misrepresentation of available facts at our disposal, hence misleading.
”For the avoidance of doubts, the National Petroleum Products Stock data and import plan, currently indicate that the country has two months Premium Motor Spirit (petrol) sufficiency.
”Hence, we want to assure motorists and commuters alike, that the products supply situation is robust and able to cater for the fuel needs of all Nigerians, pending when ongoing challenges are addressed.
”As a corollary to the above, PPPRA also wants to inform that contrary to a widely-held belief on the status of kerosene, the product is fully deregulated.
”We hereby appeal to all Nigerians to remain calm and desist from any form of panic-buying, as we assure of our total commitment to adequate products supply and distribution across the country, in line with our mandate,” Oladele said.
He appealed to all depot owners to adhere strictly to the subsisting truck-out principle in order to ensure that products get to retail outlets across the country in a seamless manner.
”The Agency shall not hesitate to apply appropriate sanctions where necessary,” he warned
BREAKING: ASUU meeting with FG end in deadlock, strike to continue
The meeting between the federal government and the leadership of the Academic Staff Union of Universities (ASUU), on Tuesday ended without an agreement.
As a result of this, the six-month-old strike embarked on by public university lecturers is set to continue.
The lecturers met with the Professor Nimi Briggs Committee at the National University Commission (NUC) in Abuja with high hopes of resolving the impasse.
A senior member of ASUU said that members of the Briggs renegotiation committee didn’t come with any new offer on the table.
According to him, the committee pleaded with the lecturers to suspend the ongoing strike, with promises that their concerns will be included in the 2023 budget.
The meeting started at about 12pm and lasted for about three hours.
ASUU has been on strike since February 14.
Suspected thugs destroy Tinubu’s Emilokan billboard in Lagos (PHOTO)
Some persons suspected to be political thugs have vandalized a billboard of the All Progressives Congress (APC) presidential candidate, Bola Tinubu, in Lagos.
The billboard located on the close to the third mainland bridge was destroyed on Tuesday morning.
The action sparked tension online as some APC members have accused the Peoples Democratic Party (PDP) in the state.
EFCC recovers another 1.4bn naira for NHIS
The Economic and Financial Crimes Commission (EFCC) has recovered an additional sum of one billion, four hundred million naira (N1.4 Billion) for the National Health Insurance Scheme (NHIS).
In a statement via its official Twitter handle, the money, according to the commission, was part of the funds which some commercial banks ‘fraudulently’ refused to transmit to the Treasury Single Account, TSA, since 2015.
The statement further said the money had been released to the NHIS since August 5, 2022.
It also revealed that the Commission had in similar fashion on February 10, 2022, released a sum of N1.5bn to the scheme.
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