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August 15, 2023 No Intention of Raising Petroleum Pump Prices, States NNPCL

No Intention of Raising Petroleum Pump Prices, States NNPCL

The Nigeria National Petroleum Company Limited (NNPCL) has affirmed its commitment to maintaining the current retail price of petroleum, dispelling any notions of an impending increase.

 In a statement released through its official communication platform on Monday night, the oil firm addressed recent media reports suggesting a potential hike in petroleum pump prices.

Contrary to these reports, the NNPCL categorically stated that it has no plans to elevate the existing rate of N617 per litre to a range between N720 and N750 in the upcoming weeks. The company's stance is grounded in its dedication to serving its valued customers and fostering trust within the industry.

“Dear esteemed customers, we at NNPC Retail value your patronage, and we do not intend to increase its petrol pump prices as widely speculated; please buy the best quality product at the most affordable prices at our NNPC Retail stations nationwide”, the NNPCL said.

With this reaffirmation, the NNPCL seeks to underscore its commitment to consumer satisfaction while dispelling any uncertainties surrounding potential price changes.

August 14, 2023 Marketers Suspend Fuel Imports, Propose N720/Litre Amid Forex Crisis

Marketers Suspend Fuel Imports, Propose N720/Litre Amid Forex Crisis

Oil Marketers Warn of Potential N680-N720/Litre Petrol Price Amidst Forex Fluctuations

Oil marketers have issued a cautionary statement, revealing that the cost of Premium Motor Spirit (petrol) could surge to a range of N680 to N720 per litre in the upcoming weeks if the dollar's trading range continues at N910 to N950 in the parallel market.

The scarcity of foreign exchange has prompted dealers to delay plans for importing PMS, with the Central Bank of Nigeria's official window for forex (which offers a lower exchange rate of about $740/litre) remaining illiquid and unable to meet the importation needs of $25 million to $30 million required by dealers.

This scarcity has led to the suspension of petrol imports by initially eager dealers. Even the sole importer, Emadeb, is struggling to recover its investment due to the depreciation of the naira.

Key figures within major oil dealer organizations, including the Major Oil Marketers Association of Nigeria, Independent Petroleum Marketers Association of Nigeria, and Petroleum Products Retail Outlets Owners Association of Nigeria, have emphasized the urgent need for government intervention to address this crisis.

Chief Chinedu Ukadike, the National Public Relations Officer of the Independent Petroleum Marketers Association of Nigeria, highlighted how forex fluctuations impact petrol prices. He stressed that when the naira weakens against the dollar, it directly affects prices due to the demand and supply dynamics of forex. He also noted that forex is critical in various sectors, not just petroleum products.

August 14, 2023 Super Falcons Receive Warm Welcome from First Lady, Remi Tinubu, At Aso Rock

Super Falcons Receive Warm Welcome from First Lady, Remi Tinubu, At Aso Rock

Nigeria's First Lady, Senator Oluremi Tinubu, Welcomes Super Falcons at State House, Abuja

Senator Oluremi Tinubu, Nigeria's First Lady, is hosting the members of the Nigerian women's football team, the Super Falcons, at the State House in Abuja.

The Super Falcons recently exited the FIFA Women's World Cup co-hosted by Australia and New Zealand. They were eliminated after a penalty shootout against the English women's national team last Monday.

Following her recent meeting with the victorious Nigeria women's basketball team, D'Tigress, Mrs Tinubu continues to support Nigerian female sports figures. She encourages them and hosts them as a gesture of recognition and appreciation.

More details at a later time.

August 14, 2023 Saraki Voices Concerns Over Doctors’ 100-Hour Weekly Calls

Saraki Voices Concerns Over Doctors’ 100-Hour Weekly Calls

Former Senate President, Dr Bukola Saraki has expressed shock over the revelation that medical doctors in Nigeria work for 100 hours a week.

He remarked when officials of the National Association of Resident Doctors, NARD, paid him a visit on Saturday, after the suspension of their strike.

According to the former Senate President, who is also a medical doctor, “The one that shocked me most was the revelation that many of the members put in over 100 hours of service every week.

“I remember that as a young doctor working in the hospitals, the maximum hour I was doing per week was 72 hours. The UK and most countries have since reduced the maximum number of hours a doctor can work in a week for safety reasons.”

“Yet, in our country, some doctors still put in over 100 hours. This constitutes a danger to the patients those doctors attend to,” he added.

Saraki attributed the situation to the acute shortage of personnel, saying, “Many of our qualified doctors and nurses have left the country to practice overseas.

“I am even surprised to learn that not only the US, UK, Saudi Arabia, Canada, and other Western nations attract doctors from Nigeria, other African countries like Ghana, Gambia, Kenya, and Senegal now poach Nigerian doctors.

“Some of the problems are not necessarily just poor remuneration but a result of bureaucratic bottlenecks which delay the prompt replacement of those who have left. Those responsible for this need to address it urgently as this, I am told, is one of the conditions for calling off the strike action.”

On the issue of poor pay, he urged all state governments and the Federal government to look into it, arguing that “surely countries like Gambia don’t have the resources that we have. So, it is about the premium we put on the remuneration of the medical personnel.”

He asserted that as a former governor and Senate President who introduced the Community Health Insurance Scheme at the state level and initiated the inclusion of one per cent of the Consolidated Revenue Fund as a basic health fund as one of the ways to improve the welfare of doctors and other health personnel, “I see the danger we find ourselves if nothing is done urgently at all levels to build on these past efforts.

“For the national and sub-national governments, in the absence of qualified personnel, building big hospitals and sophisticated equipment is putting the cart before the horse. And this should be reflected in setting priorities while preparing their budget.”

The former two-term governor of Kwara State declared that “As a matter of urgency, all stakeholders- policymakers, government officials at national and sub-national levels, non-governmental organizations, development partners, civil society groups, individuals who run health-related foundations, and others, we should all do our bit in addressing this exit of our medical doctors and nurses.”

He commended the doctors for working under tough conditions, appreciating their patriotism.

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