Monday, November 11, 2024

Petrol landing cost falls in Nigeria as local pump price increases

In a statement, the Nigeria Labour Congress (NLC) expressed concerns that the pump price of petrol in Nigeria continues to exceed market values, raising questions about the fairness of pricing for consumers.

This marks a significant 20.23% decrease from ₦1,219 per litre recorded in August 2024, according to data from the Major Energies Marketers Association of Nigeria.

The decline is attributed to fluctuations in both the Naira-dollar exchange rate and the international price of crude oil.

As of the end of trading on Friday, the Naira stood at ₦1,678.87 to the dollar, with Brent crude priced at $73.63 per barrel.

This contrasts with the rates in August, when crude was priced at $80.72 per barrel, and the Naira exchange rate was ₦1,611 per dollar.

Despite the lower landing cost, petrol remains expensive at the pump in Nigeria. The retail price of petrol ranges from ₦1,060 to ₦1,200 per litre at various stations, including those operated by the Nigerian National Petroleum Company Limited.

The price of petrol had already surged from ₦617 per litre in August 2024 to over ₦1,060 per litre by November 2024.

The Dangote Refinery has recently announced ex-depot prices of ₦960 and ₦990 per litre for petrol delivered by ships and trucks, respectively.

In a statement, the Nigeria Labour Congress (NLC) expressed concerns that the pump price of petrol in Nigeria continues to exceed market values, raising questions about the fairness of pricing for consumers.

By Segun Adeyemi, Pulse Nigeria

Friday, November 8, 2024

Video - Power shortages, rising fuel costs accelerate shift to solar in Nigeria



Many small businesses now rely on solar for their energy needs after public electricity costs surged. Solar companies are easing adoption by offering installment payment options, making it more accessible.

CGTN

Related story: Peter Obi Urges FG To Resolve Power Crisis Challenges

 

Nigeria ranks fifth globally in daily social media usage

Nigeria has been named among the world’s top social media engagements in 2024.

Figures from Cable.co.uk and We Are Social in 2024, shared on Sunday by World of Statistics on X, ranked Nigeria fifth for average daily use of social media in the world.

The data disclosed that Nigerians spend an average of 3 hrs and 23 minutes on social media daily.

While Kenya led the list with an average of 3 hrs and 43 minutes daily, South Africa followed with 3 hrs and 37 minutes.

Full list:

Kenya – 03:43

South Africa – 03:37

Brazil – 03:34

Philippines – 03:33

Nigeria – 03:23

Colombia – 03:22

Chile – 03:11

Indonesia – 03:11

Saudi Arabia – 03:10

Argentina – 03:08

Mexico – 03:04

Malaysia – 02:48

Ghana – 02:43

Egypt – 02:41

Thailand – 02:30

Bulgaria – 02:26

Vietnam – 02:23

Portugal – 02:23

Romania – 02:20

Italy – 02:17

By Racheal Ayodele, Daily Post

Nigeria rights body to present findings on abortion allegations against military

Nigeria's human rights commission will on Friday deliver its findings from an investigation into Reuters reports, which found the military ran a secret, systematic and illegal abortion programme and massacred children in its fight against Islamist insurgents in the northeast.

The National Human Rights Commission (NHRC), which is appointed by the government, established a special panel in February 2023 to investigate the findings published by Reuters and conducted hearings in the capital Abuja and northeastern Borno state.

The Nigerian military denied the findings in the news agency's reports.

The NHRC on Thursday sent invitations to the media saying the panel was ready to present its findings and recommendations to the public in Abuja.

In advance of the Friday session, Reuters was unable to independently establish what the report will conclude.

Obinna Jude Nwakonye, NHRC head of corporate affairs who signed the invitations, did not immediately respond to calls for further comment about the commission's findings.

In the past, some rights activists have accused the NHRC of failing to hold the government to account, citing the agency's inability to secure prosecution of senior Nigerian officials accused of rights abuses – a lack of accountability underscored in United Nations and U.S. State epartment reports.

However, the commission also has previously presented hard hitting reports against the government.
In October 2020, thousands of protesters successfully demanded the disbandment of the Special Anti-Robbery Squad (SARS) police unit, members of which the NHRC found had extorted, tortured and killed civilians.

That same month, the army and police opened fire on protesters in Lagos, killing at least 11 people, according to a state judicial panel that the NHRC helped set up.

The government rejected the panel's report, citing errors and insufficient evidence.

Reuters reported in December 2022, based on dozens of witness accounts and documentation, that the military abortion programme involved terminating at least 10,000 pregnancies among women and girls, many of whom had been kidnapped and raped by Islamist militants.

In another Reuters report, more than 40 soldiers and civilians told the news agency they witnessed the Nigerian military kill children or saw children's corpses after a military operation.

Two decades ago, an Islamist fundamentalist movement, Boko Haram, was born in Nigeria's northeast.
In 2009, the killing of its founder, Mohammed Yusuf, by Nigerian police spurred its transformation into an armed insurgency that the Nigerian military has been fighting.

Boko Haram gained global notoriety in 2014 for the abduction of 276 secondary school girls in the town of Chibok, a raid that prompted the #BringBackOurGirls campaign. Some of the girls have never been returned.

Although weakened by the military and internal divisions that splintered the group in 2016, Boko Haram remains a threat as it launches deadly attacks against civilians and government targets.
Tens of thousands of women and children have been sucked into the conflict, with some recruited into the insurgency's ranks and others forced to become fighters and suicide bombers, according to human rights groups and academics. 

By Camillus Eboh, Reuters

Related story: Nigeria government denies Reuters report of mass ‘abortion programme’ of Boko Haram victims

Thursday, November 7, 2024

Peter Obi Urges FG To Resolve Power Crisis Challenges

Former presidential candidate Peter Obi has called on the federal government to proffer lasting solutions to the power crisis in the country.


Obi made the call on his X handle while raising concerns about the ongoing power crisis following another collapse of the national grid.

The call came after Nigerians were plunged into a fresh round of darkness following another collapse of the national power grid.

Since January 2024 till date, the grid has collapsed 10 times, and three times in October alone.

Speaking on the issue via a statement on Wednesday via X, Obi contrasted Nigeria’s struggles with power supply to South Africa’s recent success in achieving seven months of uninterrupted electricity.

He said, “Again, yesterday the now regular news came that the National Grid had collapsed once again. Just a few days ago, on the 25th of October, South Africa that was the second-largest economy in Africa behind Nigeria until recently, with a quarter of our population, celebrated seven months of uninterrupted power supply.

“South Africa generates and distributes about 40,000 MW of electricity, while Nigeria struggles to generate and distribute just 10% of that.”

“Is there any tribe in Nigeria that enjoys uninterrupted power supply like South Africa? I am labelled a tribal bigot. When I ask if any religion enjoys special privileges in this crisis, I am called a religious bigot. But I will continue to speak the truth about our situation today,” he said.

“The fact remains that we are all suffering equally from this failure,” he said.

Obi urged Nigerians to move past “primordial sentiments” and instead focus on electing leaders who can drive the country towards development.

He said, “The fact remains that we are all suffering equally from this failure. The solution lies not in tribal or religious affiliations but in visionary leadership and a shared commitment to progress.

“We must set aside these primordial sentiments and elect leaders who are competent, capable, and have the vision to transform our nation from a consumer-driven economy to a productive one by investing our meagre resources in critical areas of development like health and education, lifting our people out of poverty, and ensuring increased electricity production and distribution.”

Channels

Related story: Nigeria's power grid partially collapses again, causing blackouts