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NNPC Ltd Drops Bombshell on Fuel Subsidy Payment
NNPC Ltd Drops Bombshell on Fuel Subsidy Payment
NNPC Ltd Clarifies: No Fuel Subsidy Payments in Nine Years
In a recent statement, the Nigerian National Petroleum Company Limited (NNPC Ltd.) has addressed the ongoing controversy surrounding fuel subsidy payments. On Monday, August 19, the company’s Chief Financial Officer, Umar Ajiya, made a surprising revelation.
According to Ajiya, NNPC Ltd. has not paid fuel subsidies to any entity for the past nine years. He emphasized, “In the last eight to nine years, NNPC Ltd. has not paid anybody a dime as subsidy. No one has been paid a kobo by NNPC Ltd. in the name of subsidy. No marketer has received any money from us by way of subsidy.”
Instead, Ajiya explained that NNPC Ltd. has been managing the importation of Premium Motor Spirit (PMS), commonly known as petrol. The company has been dealing with the price difference between the landing cost and the government-mandated selling price.
“NNPC Ltd. has only been importing PMS, which has been landing at a certain cost price, and the government mandates us to sell it at half price,” Ajiya clarified. He referred to this price difference as a “shortfall.”
Ajiya further elaborated on the process: “The deal is between the Federation and NNPC Ltd. to reconcile. Sometimes they give us money, but there is no money exchanging hands with any marketer in the name of subsidy.”
This statement from NNPC Ltd. sheds new light on the fuel subsidy debate in Nigeria, potentially changing the public’s understanding of how the system has been operating over the past nine years.
As the discussion around fuel subsidies continues to be a hot topic in Nigeria, this clarification from NNPC Ltd. is likely to spark further debate and scrutiny of the country’s fuel pricing mechanisms.
Federal Government Refutes Age Restrictions for NECO and WAEC Exams
The Federal Government has dismissed rumors suggesting that age restrictions apply to the National Examination Council (NECO) and West African Examination Council (WAEC) exams.
Dr. Tanko Sununu, the Minister of State for Education, clarified this in Abuja on Friday, affirming that there are no age limits for taking these exams. He explained that the age restriction applies only to the Unified Tertiary Matriculation Examination (UTME) and university entry, which will start at 18 years beginning in 2025.
Sununu pointed out that the National Policy on Education specifies that children should start primary school at age six, spend six years there, and then proceed to three years each in junior and senior secondary schools, totaling 18 years.
His remarks came during a briefing for the 2024 World Literacy Day, themed “Promoting Multilingual Education: Literacy for Mutual Understanding and Peace.”
Sununu addressed the confusion, stating, “We have clarified this issue in various forums, but the misinformation persists. Neither the Minister of Education, Prof. Tahir Mamman, nor I have announced any age limit for WAEC, NECO, or NABTEB exams.”
He added, “Some individuals have misinterpreted our comments regarding UTME age restrictions and mistakenly applied them to WAEC and NECO. Our previous statements only pertained to university entry age, as outlined in the National Policy on Education.”
Sununu also highlighted that the policy supports teaching children in their local language or mother tongue until primary three, after which English is introduced. This approach, he noted, facilitates better communication and learning.
President Tinubu Pledges Bold Decisions for Nigeria’s Progress
President Bola Tinubu has affirmed his commitment to making the tough decisions needed for Nigeria’s progress. He acknowledged the challenge of achieving national consensus on various issues but underscored that such decisions are crucial for the country’s advancement.
Wrapping up his official visit to China, President Tinubu met with the Nigerian community and members of the Nigerians in Diaspora Organization (NIDO China) at the China World Hotel. He described the trip as highly successful and beneficial.
During his visit, President Tinubu engaged in discussions with Chinese leaders, including President Xi Jinping and Premier Li Qiang, and participated in the 2024 Forum on China-Africa Cooperation (FOCAC). The focus was on boosting collaboration in areas such as infrastructure, trade, finance, energy, the green economy, and mining.
Addressing Nigerians in China, President Tinubu emphasized the importance of representing Nigeria positively and being exemplary citizens. He highlighted the need for discipline and dedication, drawing inspiration from China’s disciplined society.
The President encouraged Nigerians abroad to embrace their diversity, follow local laws, and project a positive image of their country. He stated:
“Nigeria is undergoing significant reforms, and we are making bold and unprecedented decisions. You might have heard recent news about fuel prices at home. But can we avoid these tough choices if we want to improve our infrastructure, like roads, electricity, and water supply? We aim to hand over a better future to our children, and that requires us to make hard decisions now.”
President Tinubu Wraps Up China Visit and Heads to London via Dubai
On Friday, September 6th, President Bola Tinubu concluded his official visit to China and is now en route to London, United Kingdom, with a stopover in Dubai.
Bayo Onanuga, Tinubu’s Special Adviser on Information and Strategy, confirmed that the President will travel to the UK via Dubai.
During his visit, President Tinubu assured Nigerians in China that his administration is committed to good governance and aims to replicate China’s successes for the benefit of Nigeria. He made these remarks during a meeting with the Nigerians in Diaspora Organization in China (NIDO China) and the Nigerian community at the China World Hotel in Beijing.
The meeting marked President Tinubu’s final official engagement in China before his departure for London.
President Tinubu described his visit to China as “very good and successful.”
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