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October 10, 2024 PETROAN Attributes Fuel Price Hike to ‘Challenges in Product Supply’

PETROAN Attributes Fuel Price Hike to ‘Challenges in Product Supply’

The Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) has suggested that the recent fuel price hike may be due to challenges in securing product supply. PETROAN President, Billy Gillis-Harris, explained this during an interview.

"What I can tell you is, once there is difficulty in landing products by NNPCL, and when the burden becomes too overwhelming for them to manage, they will inevitably pass some of that load on," Gillis-Harris said. "I think that’s what has happened."

On Wednesday, the Nigerian National Petroleum Company Limited (NNPCL) increased the pump price of petrol at its retail outlets in Lagos and Abuja. In Lagos, the price per litre jumped to ₦998 from ₦855, while in Abuja, it surged to ₦1,030 from ₦897.

This sudden increase triggered a domino effect, with other filling stations across Lagos raising their prices to as high as ₦1,050 per litre.

The latest hike comes just a month after NNPCL raised the price of petrol from ₦568 to ₦855 per litre, citing heavy debts owed to fuel suppliers. The company had implemented a roughly 40% price increase in an effort to stabilize its finances.

October 10, 2024 Football Community Grieves as Greek Defender George Baldock Passes Away at 31

Football Community Grieves as Greek Defender George Baldock Passes Away at 31

Greek football was left in shock on Thursday following the tragic death of Panathinaikos and Greece international defender George Baldock. Tributes poured in from across the country, even from rival clubs and fans, united in mourning the loss of the well-liked 31-year-old.

Baldock, who was born in England and previously played for Sheffield United in the Premier League, was found dead on Wednesday evening in the swimming pool at his home in Glyfada, a southern suburb of Athens.

In a statement, Baldock’s family expressed their grief, saying, “We can confirm that George has sadly passed away. As a family, we are in shock at this terrible loss.”

News of Baldock’s death quickly spread across social media, with condolences pouring in from Greece’s top football league, the Super League, and various clubs, even before his team, Panathinaikos, issued an official statement. Fans from rival clubs also expressed their sorrow at the loss of a player widely admired for his talent and character.

State broadcaster ERT reported that Baldock was found at the bottom of the pool, with a bottle of vodka nearby. According to the Athens News Agency (ANA), Baldock’s wife, who was abroad, alerted the residence’s owner after being unable to reach her husband by phone. Police and an ambulance arrived at the scene, where several Panathinaikos players had also gathered. A coroner determined that Baldock had been dead for approximately five hours, with no signs of foul play or forced entry into the home.

Baldock had joined Panathinaikos in May after spending seven years with Sheffield United, who were relegated from the Premier League to the Championship last season. Of Greek descent through his father, Baldock had been called up to the Greek national team in 2022 by former manager Gus Poyet, earning 12 caps. He was not included in the squad for Greece’s Nations League match against England at Wembley on Thursday due to an injury.

The Greek Football Federation honored Baldock, calling him “one of our own” and requesting that the national team wear black armbands during their upcoming match. Baldock’s club, Panathinaikos, and the Greek national team blacked out their social media profiles in tribute to him.

Tributes also poured in from the football world, with Manchester United’s Harry Maguire, a former teammate of Baldock at Sheffield United, posting "RIP" alongside a heartbreak emoji on Instagram. Sheffield United’s website featured a black-and-white image of Baldock with the message, “RIP George Baldock.” Clubs from Baldock’s early career, including Northampton Town and MK Dons, also shared their condolences, expressing their sadness at his passing.

Baldock, nicknamed "Furious George" by Sheffield United fans for his relentless playing style, was known for his fierce competitiveness. “I just love winning. I hate losing, and I even hate drawing,” he once said in an interview with local media.

Baldock’s sudden death has left the football world mourning the loss of a dedicated and passionate player at the age of 31.

 

 
 
 
 
 
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A post shared by Sheffield United (@sheffieldunited)

 

October 10, 2024 Court Dismisses MAN’s Lawsuit Against Electricity Tariff Increase

Court Dismisses MAN’s Lawsuit Against Electricity Tariff Increase

The Federal High Court in Lagos has dismissed a lawsuit filed by the Manufacturers Association of Nigeria (MAN) challenging the implementation of the Band A electricity tariff review by the Abuja Electricity Distribution Company (AEDC) and 11 other defendants.

According to a statement released by the Nigerian Electricity Regulatory Commission (NERC) on Thursday, the court delivered the judgment on Monday. The court ruled that MAN’s case was an abuse of the judicial process, stating it was premature and failed to comply with the provisions of Section 51 of the Electricity Act 2023.

The court further noted that MAN had not exhausted the available dispute resolution mechanisms, and as a result, the suit had no reasonable cause of action. Consequently, the case was struck out for not following due legal process.

MAN had initially filed the lawsuit, challenging the minor tariff review conducted by NERC, which affected electricity rates for Band A feeders. The manufacturers sought four key reliefs, arguing that the AEDC and other electricity providers had not fulfilled the legal requirements for a tariff review before applying to NERC on July 31, 2023. They also contended that the regulatory steps leading to NERC's April 3, 2024, Supplementary Order and the subsequent rate review of May 6, 2024, were not properly followed.

Additionally, MAN claimed that imposing the tariff hike solely on Band A consumers while excluding other bands was discriminatory. The association stressed that the defendants must adhere to administrative procedures before implementing the supplementary orders.

In response, NERC argued that MAN’s lawsuit was hasty and an abuse of court processes, as the manufacturers had not followed proper legal channels before bringing the case to court.

Band A customers, who receive at least 20 hours of electricity daily without government subsidies, have seen their rates increase to ₦209.50 per kilowatt-hour, a threefold hike that MAN says has severely impacted production costs.

October 10, 2024 NNPCL Sets Petrol Price at ₦998 Per Litre in Lagos, ₦1,030 in FCT

NNPCL Sets Petrol Price at ₦998 Per Litre in Lagos, ₦1,030 in FCT

Retail outlets operated by the Nigerian National Petroleum Company Limited (NNPCL) adjusted petrol pump prices on Wednesday in both Lagos and the Federal Capital Territory (FCT), Abuja.

In Lagos, our correspondent reported that several NNPCL stations were selling petrol for ₦998 per litre, an increase of ₦150 from the previous price of ₦855. The sudden hike led to long, snaking queues at stations in Abule-Egba, U-turn, Abbatoir, and other nearby areas, as motorists and transporters scrambled to stock up in anticipation of further price rises.

Non-NNPCL filling stations quickly followed suit, raising their prices incrementally. Many stations in Lagos were selling petrol for as high as ₦1,050 per litre.

The situation in Abuja mirrored that of Lagos, with NNPCL outlets increasing prices from ₦897 to ₦1,030 per litre.

This fresh hike comes just weeks after the previous increase on September 2, 2024, when NNPCL raised the price of petrol from ₦568 to ₦855 per litre, triggering public outrage.

 

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