NNPCL CLAIMS NO SUBSIDY WAS PAID ON PETROL, YET SPEND N7.8TN TO COVER ‘SHORTFALL’

The Nigerian National Petroleum Company (NNPC) Ltd has stated that it is not paying subsidies on petrol, but rather covering a “shortfall” between the landing cost and the official pump price.

The Chief Financial Officer Umar Ajiya told NAN in Abuja on Monday that the company is bearing the difference, estimated at N7.8 trillion in the first seven months of the year.

Ajiya emphasized that subsidy, typically defined as selling below cost price, has not been paid to any marketer in the last nine months. Instead, NNPC, as the sole importer of petrol, has been selling the product at half the landing cost, with the government directing the price reduction.

The NNPC CFO explained that the “shortfall” is reconciled between the Federation and NNPC, sometimes with financial support from the government.

Ajiya stressed that no marketer has received subsidy payments from NNPC, contrasting the situation with the common understanding of subsidy payments.

“In the last eight to nine months, NNPC Ltd. has not paid anybody a dime as a subsidy; no one has been paid kobo by NNPC Ltd. in the name of subsidy,” Ajiya said.

“No marketer has received any money from us by way of subsidy.

“What has been happening is that we have been importing PMS, which has been landing at a specific cost price, and the government tells us to sell it at half price.

“So the difference between the landing price and that half price is a shortfall.

“And the deal is between the Federation and NNPC Ltd., to reconcile, sometimes they give us money, so there is no money exchanging hands with any marketer in the name of subsidy.”

The clarification comes amid ongoing debates about fuel subsidy and its impact on Nigeria’s economy. The NNPC’s position raises questions about the nature of the “shortfall” and the financial arrangements between the government and the national oil company.

Credit: Ripples Nigeria 

FG, APC GOVERNOR DISAGREE OVER RICE PALLIATIVE TO STATES

  Gov. Muhammad Inuwa Yahaya

The federal government has rejected a claim by the governor of Gombe State, Inuwa Yahaya, that the state has yet to receive 20 trucks of rice palliatives from it.

Mr Yahaya, on Tuesday in a meeting with civil society organisations, Organised Labour and the Amalgamated Unions of Traders in Gombe, said the state was yet to receive the federal government rice palliative.

PREMIUM TIMES reported Gov. Yahaya saying that the 20 trucks of rice had not been delivered to his state.

Reacting to the governor’s claim on Saturday, the Minister of Information and National Orientation, Mohammed Idris, in an interview with BBC Hausa programme, said there is no state where the rice was not delivered.

  Minister of Information, Mohammed Idris

The minister said it was dispatched for distribution to the masses two weeks ago.

Mr Idris emphasised that every governor received the allocation, contradicting the Gombe governor’s claim.

“The distribution was made public over two weeks ago, and no other governor has disputed the delivery except from Gombe.

“All the governors were given 20 trucks of rice for distribution to people. The claim that it was not given is a new statement I have heard.

“The distribution was made known over two weeks ago and there is no governor that came out to make this claim except that of Gombe, who said his state was yet to receive its share. But in our records, each governor was given 20 trucks of rice,” the minister insisted.

BIG BROTHER NAIJA ALL-STARS: ALL EYES ON FAN FAVOURITES

The eighth season of the Big Brother Naija reality TV show, dubbed, the ‘All-Star’ edition, starts today. Unlike past outings, this season will feature former housemates of the competition. Sunday Scoop looks at some of the ex-housemates who are quite popular with fans and might be part of the new show

Tobi Bakre

Tobi Bakre is no doubt one former Big Brother Naija housemates who has maximised his opportunities since he left the show. He has starred in a number of movies, including, Sugar Rush, Brotherhood and Gangs of Lagos.

His dedication to his craft has undoubtedly put him in the league of the most sought after ex-housemates.

He won the Best Actor Award at the 2023 African Magic Viewers Choice Awards.

He has 2.4 million followers on Instagram, and is a brand ambassador of the betting platform, Bet king Nigeria.

Tacha

It is no doubt that Natacha Akide has come a long way since her disqualification from the season 4— Pepper Dem edition— of BBN. She has a loyal fan base called the ‘titans’, and boasts of 3.5 million followers on Instagram.

She also competed on MTV’s The Challenge reality show. She was known to be a controversial person, even before partaking in BBN.

She has won a number of awards, including 2021 Net Honours Most Popular Person and Force of Twitter. She has also won the 2021 SCREAM awards for Brand Influencer of the Year, Fashion Brand of the Year and Social Media Influencer of the year. Akide also has multiple businesses to her name.

Elozonam

Elozonam Ogbolu is another ex-BBN housemate who has made good use of the exposure he got from the show. Elozonam is now a content creator, voice artist and TV show host. He won the 2023 AMVCA award for the Best Online Social Content Creator. He is currently a brand ambassador of Premier Cool Nigeria, and has almost a million followers on Instagram.

Kidwaya

Kidwaya Terseer is the son of a billionaire and he is unabashed about it. He is often seen hanging out with people of high calibre. He has 1.5 million followers on Instagram. He also owns a London, United Kingdom-based consulting agency, Kiddwco, which presented the sum of N100m to underprivileged Nigerians on July 13, 2023.

Erica

Erica Nlewedim was disqualified from BBN, but she has not relented in her career. She has acted in movies, such as Blood Covenant, Devil in Agbada, Bitter Rain, The Wig, and Hire a Woman.

She also has endorsement deals with brands such as Aaron Cosmetics, Access Bank Plc and Maltina. She has over three million fans on Instagram.

Nengi

Rebecca Hampson, aka Nengi, is another popular ex-BBN housemate with 3.2 million followers on Instagram. Just two months after emerging the second runner up of BBN in 2020, she was awarded the Black Women Worldwide award for Entrepreneur of the Year on November 1, 2020. She was also declared as the winner of the Online Influencer of the Year Awards at 2022 Gage Awards. Nengi was the first female housemate in the history of the show to have one million followers on Instagram while still in the competition. She has also been signed as a brand ambassador for brands such as, Payporte, Deshapeables Nigeria, and Remy Martins.

Cee C

Cynthia Nwadiora, aka Cee C, gained notoriety for being very controversial while on the show in 2018, but since she left the competition, she has also shown off her calmer side.

The 26-year-old lawyer has bagged many ambassadorial deals, and has over three million followers on Instagram. In 2018, she won the La Mode Award for Fashion Influencer of the Year.

She has also worked with brands, such as Itel, Cassie Hairs, and FTX Africa.

Angel

Like many others on this list, Angel Smith is a controversial ex-BBN housemate. She has 1.1 million followers on Instagram, and is currently one of Get fit Nigeria ambassadors. She has also worked with tea brand, Lipton; skincare brand, Jenny’s glow; and phone brand, Oppo.

Khloe

Oluwabusayo Abiri, popularly known as Khloe, is another controversial ex-BBN housemate that is loved by many. She set a lot of tongues wagging when she underwent cosmetic surgery in 2020.

With many businesses to her name, she made the 2023 Forbes 30 under 30 list.

Ozo

While on the show, Ozomena Chukwu, aka Ozo, was the butt of jokes for many because of his doting affection towards another housemate, Nengi. However, that also endeared him to many fans. He currently has 1.5 million followers on Instagram.

He has worked with brands such as FIFA, Nike, Budweiser, and Tecno.

BREAKING: TINUBU PLANNING TO ATTACK PEPC JUDGES, OBI, AND ATIKU'S LEGAL TEAM – DAVID HUNDEYIN

    ■ DAVID HUNDEYIN 

Investigative Journalist and author of The Jungle, David Hundeyin, has released a scathing allegation against Bola Ahmed Tinubu via his Twitter handle @DavidHundeyin

He said the source of the allegation has never given him any false information, and he hopes this is the first. He posted a screenshot showing his conversation with the source.

It will be recalled that David Hundeyin was the journalist who exposed Bola Tinubu’s dual citizenship and Guinean Passport and also the one who released Tinubu’s drug dealing and money laundering forfeiture case in the USA.

On a day when Peter Obi and Atiku Abubakar submitted their final addresses to the Presidential Tribunal against Tinubu, he chose to use the various security apparatus against his opposition. It is important to note that in that meeting, the highly controversial Imo State Governor, Hope Uzodinma, who got to power through a highly controversial judicial judgment, was in attendance.

Attached below is David’s Tweet.