Pandemonium broke out on Thursday when robbers attacked a bullion van in Idi-Ape area of Ibadan, the Oyo State capital city.
Unconfirmed sources said two policemen died with the robbers shooting sporadically while carrying out the operation.
It could not be confirmed if the gunmen successful hijacked the bullion van.
The Group Managing Director of the Nigerian National Company Limited (NNPC), Mele Kyari, has disclosed that four companies were responsible for the importation of adulterated fuel into the country.
Speaking on Wednesday during a media briefing at the NNPC Headquarters in Abuja, Kyari said MRS, Emadeb/Hyde/AY Maikifi/Brittania-U Consortium, Oando and Duke Oil brought the substandard fuel into Nigeria.
He disclosed that the investigation carried out by the company revealed that the presence of Methanol which was above Nigeria’s specification was detected in four petrol cargoes imported by the listed companies
Kyari said the Methanol blended petrol was imported into the country by the four oil suppliers through its Direct-Sales-Direct-Purchase arrangement.
The NNPC GMD, however, said he has since ordered the withdrawal of all the affected products in transit (both truck and marine), disclosing that the adulterated fuel was imported from Antwerp in Belgium.
Kyari disclosed that the NNPC had ordered the quarantine of all un-evacuated volumes of the contaminated fuel that led to the disruption of the petrol distribution value chain, in order to prevent further distribution.
He stressed that the NNPC and other stakeholders were making serious efforts to resolve issues generated by the supply and discharge of methanol blended fuel in some Nigerian depots.
He said: “In order to prevent the distribution of the petrol, we have ordered the quarantine of all un-evacuated volumes and the holding back of all the affected products in transit (both truck & marine).
“All defaulting suppliers have been put on notice for remedial actions and NNPC will work with the authority to take further necessary actions in line with subsisting regulations.
“NNPC wishes to reassure Nigerians that we are currently sourcing additional cargoes to ensure product sufficiency.”
The NNPC boss asserted that petrol brought into Nigeria usually does not include the test for the level of methanol content, adding that cargoes’ quality certificates issued at the loading port in Belgium, by AmSpec Belgium, indicated that the product complied with Nigerian specifications.
However, Kyari disclosed that the NNPC first received a report on January 20, 2022, from its quality inspector of the presence of “emulsion particles” in petrol cargoes shipped to Nigeria from Belgium.
Society gazette reports that a 200-level OAU student, Heritage has died after falling inside her hostel soak-away which was shabbily covered.
She was picking her clothes when she mistakenly and unfortunately fell into the soak-away, leading to her death.
The video of the soak away has however surfaced online while students of the school condemned the management of obafemi Awolowo University.
WATCH VIDEO BELOW
https://twitter.com/i/status/1491604920692142080
Society gazette reports that there has been blame game following reports of contaminated petrol product in some filling stations in the country.
This was discovered this week and one of the filling stations at the receiving end has been MRS due to the fact that a video making rounds saw the company’s staff discharging contaminated fuel into a plastic bottle.
Following the backlashes against the company, MRS has been forced to speak out by exposing the Nigerian National Petroleum Corporation’s involvement in the contaminated fuel importation.
MRS In a press release presented in a letter revealed that NNPC is the sole supplier of Petroleum Motor Spirit(PMS) in the country and that the corporation through its trading arm, Duke Oil imported the fuel.
Details of how the corporation delivered the petrol product to MRS was also revealed in the release.
See the letter below
President Muhammadu Buhari has been asked to declare a national emergency on ritual killings across the country.
Society gazette reports that the House of Representatives made the call during its plenary on Wednesday.
The development was part of the resolutions reached by the lawmakers on a motion of urgent public importance entitled ‘Need to Curb the Rising Trend of Ritual Killings in Nigeria’.
More details…
The Oyo State Government on Wednesday sealed the Ibadan Electricity Distribution Company (IBEDC) offices in Ibadan over non-payment of over 400 million Naira tax.
POLITICS NIGERIA reports that tax evasion in Nigeria is punishable under Section 40 of Federal Inland Revenue Service Act.
Evasion of tax is one of the problems plaguing the economic growth and development in Nigeria. It involves intentional misrepresentation of one’s true financial status to the tax authorities so as to reduce his/her tax liability.
When organizations avoid and evade tax, the country becomes cash strapped and restrained from carrying out what is expected of it for the benefits of its citizens.Then the need to borrow huge sums of money from other big nations to provide amenities amongst other things will arise.
The continuous generation of low revenue hinders the country from being able to pay back her debts and the consequences fall back on the poor who depend on the government for everything.
The Vice President of Nigeria, Yemi Osinbajo on Tuesday visited the family of the five-year-old Hanifa Abubakar who was abducted and murdered by Tanko Abdulmalik.
Osinbajo visited the family in Kano State to commiserate with them over the murder of their child.
Recall that the proprietor of Noble Kids Academy Nursery and Primary School, Kwanar Dakata in Nasarawa Local Government of Kano State, Abdulmalik abducted Hanifa last December.
Tanko after being suspected to have abducted the little girl killed her five days after collecting part payment of the ₦6million ransom he demanded.
The suspect who has since been arrested and standing trial disclosed that he poisoned Hanifa with rat poison to evade being discovered and buried her within the school compound.
The development which has stirred reactions across the country saw the First Lady of Nigeria, Aisha Buhari call for capital punishment for Hanifa’s killer.
Watch the video of Osinbajo’s visit below:
Alhaja Bejide, wife of a former Deputy Governor of Ondo State, Alhaji Ali Olanusi, is dead.
It was gathered that she died at 77 on Tuesday after complaining of stress.
She died ahead of her husband’s planned birthday celebration.
Olanusi, a chieftain of the All Progressives Congress (APC), was the deputy to the former Governor Olusegun Mimiko between 2009 and 2015.
Meanwhile, the state APC has commiserated with the former deputy governor over his wife’s demise.
A statement by the party’s Publicity Secretary Alex Kalejaye said that “Chief (Mrs.) Olanusi died today (Tuesday) in Akure, had complained of stress yesterday, and was taken to a hospital. She died ahead of her husband’s planned birthday celebration.”
The State Chairman of the party, Engr. Ade Adetimehin described sad development as ill-timed, shocking and unfortunate. He said Alhaja was a strong pillar behind the husband’s political success story.
“The party chairman urged baba Olanusi, the bereaved families, and the entire Supare community in Akoko South West to take solace in that the departed lived a worthy and fulfilled life.
Kalejaye called on the bereaved families, particularly the children to ensure that mama’s name is immortalised.
The International Monetary Fund has called on the Federal Government to further increase the Value Added Tax rate to tackle the current revenue challenges being faced by the country.
The Federal Government had in 2020 raised the rate of Value Added Tax from five per cent to 7.5 per cent to raise revenue.
Nigeria currently has one of the lowest VAT rate in Sub Saharan Africa.
The administration of President Muhammadu Buhari is currently battling revenue underperformance and had resulted to borrowing to finance the annual Federal Government budget.
The Federal Government is to spend N3.61trn servicing Nigeria’s debt burden in the 2022 fiscal period.
The N3.61trn to be used to service the nation’s debt represents about 34 per cent of the 2022 projected revenue of the Federal Government.
Nigeria is experiencing a worsening debt level as the country’s indebtedness rose by N2.5trn between July to September last year.
The country’s debt burden as revealed by the Debt Management Office hit a record N38trn or $92.626bn as of the end of September 30, 2021.
In the second quarter of 2020, Nigeria’s debt was N35.4trn.
The administration of President Muhammadu Buhari was recently under attack on the country’s rising debt levels
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Nigeria’s debt service to Gross Domestic Product ratio had hit 73 per cent based on figures released by the Finance Minister, Mrs Zainab Ahmed.
But the IMF, in a statement at the end of its Article IV consultation with Nigeria, said despite the recovery in oil prices, the general government fiscal deficit was projected to widen in 2021 to 5.9 per cent of GDP, reflecting implicit fuel subsidies and higher security spending.
It also called for urgent fiscal reforms to stop fuel subsidy and tackle the vulnerabilities of the exchange rate market.
The Federal Government had on January 24 suspended its plan to remove fuel subsidy this year. It also proposed to extend the subsidy removal implementation period by 18 months, saying it would engage the legislature for the amendment of the Petroleum Industry Act.
The IMF Executive Directors said in the statement that the country’s outlook remained subject to significant risks, including from the pandemic trajectory, oil price uncertainty, and security challenges.
The statement said, “Directors highlighted the urgency of fiscal consolidation to create policy space and reduce debt sustainability risks.
“In this regard, they called for significant domestic revenue mobilisation, including by further increasing the value-added tax rate, improving tax compliance, and rationalizing tax incentives.
“Directors also urged the removal of untargeted fuel subsidies, with compensatory measures for the poor and transparent use of saved resources. They stressed the importance of further strengthening social safety nets.
The IMF Directors said it considered it appropriate to maintain a supportive monetary policy in the near term, with continued vigilance against inflation and balance of payments risks.
They encouraged the authorities to stand ready to adjust the monetary stance if inflationary pressures increase.
The Minister of Justice and Attorney-General of the Federation, Abubakar Malami, on Monday disclosed that the President Muhammadu Buhari-led government and the United States government are discussing the possible extradition of the suspended head of the Intelligence Response Team, DCP Abba Kyari.
Abba Kyari is being probed over his alleged role in a $1m scam allegedly perpetrated by disgraced internet fraudster Ramon Abbas, popularly known as Hushpuppi and five others.
According to Malami, some reasonable grounds for suspicion have been established against Kyari.
The minister disclosed this on Monday while speaking during an interview on Channels TV.
Malami said, “It is an issue that has international and national dimensions. Actions have been taken, it is a work-in-process locally and internationally and we are doing whatever it takes to ensure justice is done within the context of the law regardless of the personalities that are involved.
“When criminality is involved, Nigeria and US naturally work together when there are elements of the offences that have taken place in the diverse jurisdictions. So, Nigeria is doing the needful by way of supporting what America is doing for the purpose of ensuring that the cases are tried accordingly within the context of the American context of it. And then, eventually, if there is need for local prosecution, nothing stops it.”
The Minister when asked about the probe of Kyari said, “There are a lot of issues that are ongoing inclusive of the possibility of consideration for extradition. That is where the collaboration element of it comes into play.”
Asked if a request for Kyari’s extradition had been made by the US Federal Bureau of Investigation, he said, “There could be a need or perhaps the possibility of making such request.
“As far as I am concerned, the parties are discussing, the parties are collaborating, there are exchanges of correspondence from the perspective of investigation, from the perspective of extradition, and associated things.
“Reasonable grounds for suspicion have been established and that will eventually translate to the possibility of prosecution and conviction if indeed one is adjudged guilty by the law.”
