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Subsidy removal: Ogun motorists express shock over hike in petrol price Petrol

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Motorists and commuters in Sango-Ota, Ogun, have expressed shocked over the new pump prices of petrol, otherwise known as Premium Motor Spirit (PMS), announced by Nigerian National Petroleum Company (NNPCL).

The News Agency of Nigeria (NAN) reports that NNPCL had on Tuesday morning, said it had adjusted the pump price of petrol; between N580 to N617 per litre.

NNPCL attributed the new pump prices of petrol to response to market realities.

A correspondent of NAN, who monitored the development around Sango-Ota and its environs, discovered that the few filling stations selling the product had adjusted their pump price.

NAN also reports that the few filling stations like NIPCO, NNPC and Mobil Filling Station, that were selling the product witnessed long queues of vehicles.

NAN also reports that some of the filling stations were hoarding the product while long queue at various filling stations resulted to traffic gridlocks on some of the major roads in Sango-Ota.

Mr Bola Martins, a motorist, described the situation as uncalled for, as Nigerians were still struggling with the petrol price that was recently increased.

“Nigerians are really going through hard times and there is urgent need for the Federal Government to ensure measures that will help to ameliorate the sufferings of the people.” Martins said.

Mr Jide Onabanjo, a commercial motorist, said that the new price of petrol would be added to transport fares for the people.

Onabanjo said that this development would further increase the prices of goods and services in the country.

“We can’t continue like this because we have been pushed to the wall.” he said.

Onabanjo said that it was unbelievable that the fuel that he bought for N488 per litre at one of the NNPCL stations had gone up to N617 today.

Mrs Sade Aderanti, a civil servant, said that the new pump prices of petrol would automatically has huge impacts on living standards of Nigerians.

Aderanti said that she had been on the queue for over three hours and yet had not been able to buy fuel.

She appealed to Federal Government to expedite action in putting palliative measures in place for civil servants as well as Nigerians, at large, to reduce the untold hardships.

Business

Nigeria needs over $2bn to revive Ajaokuta Steel Plant, says Minister

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Minister of Steel Development, Shuaibu Abubakar-Audu says funding is the greatest challenge in efforts to revive the moribund Ajaokuta Steel Plant as Nigeria needs an excess of $2 billion to invest in it.

The Minister made this known in Ilorin, the Kwara State capital during his official visit to Governor Abdulrahman Abdulrazaq and other indigenous steel sector stakeholders in the state.

He noted that the current administration of President Bola Tinubu is working to grow the economy of the country by $1 trillion which involves supporting indigenous key players in the steel sector to industrialise Nigeria.

Abubakar-Audu also maintained that there is an ongoing discussion to have an industrial park at the Ajaokuta Steel Mill to attract key players in the sector. He explained that his Ministry is engaging key industry players across the country with a view to turning around the economy.

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Tinubu resumes work after foreign trip

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President Bola Tinubu has officially resumed work at the Villa, a day after returning from his trip abroad.

The President walked from his residence to his office accompanied by his security aides, his Chief of Staff Femi Gbajabiamila; the National Security Adviser, Nuhu Ribadu, and other aides.

President Tinubu traveled to the Netherlands on the 23rd of April at the invitation of the Dutch Prime Minister Mark Rutte. While in the Netherlands, he also met with the Nigerian-Dutch business community.

He proceeded to Riyadh, Saudi Arabia for the World Economic Forum (WEF) where he engaged global leaders with the view to winning more investors in Nigeria.

After the meeting in Saudi Arabia, President Tinubu was said to have proceeded to Europe on a private visit.

He returned to the country on Wednesday, after over two weeks of being away.

The governors of Kaduna and Plateau states, Uba Sani and Caleb Mutfwang paid a visit to the President on Thursday.

The reason for their visits could not be ascertained at the time of filing the report.

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