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Petrol subsidy now N47.5/litre as oil price hits $67.86

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The subsidy on Premium Motor Spirit, popularly known as petrol, has risen to N47.5 per litre as the expected open market price of the commodity hit N180.78 on Monday, latest data from the Petroleum Products Pricing Regulatory Agency showed.

Brent, the international benchmark against which Nigeria’s oil is priced, appreciated on Thursday to $67.86 per barrel, as it increased by $0.66 when compared with the previous day’s price.

But the ex-depot price for collection of petrol, as captured in the templates, remained at N133.28 per litre, indicating that the NNPC subsidised the commodity by an average of N47.5 per litre during the review period.

The NNPC has been the sole importer of petrol into Nigeria for more than two years, after oil marketers stopped importing the commodity due to crude price fluctuations and the halt in the payment of subsidy to oil dealers by the Federal Government.

Industry operators stated that the appreciation in crude oil prices would always lead to an increase in the amount spent as subsidy on petrol by the NNPC.

They noted that steps taken by the Organisation of Petroleum Exporting Countries had been impacting positively on the cost of crude oil in the international market, adding that the rise in price might be sustained till year end.

The Central Bank of Nigeria, in its economic report for November 2019, for instance, confirmed the appreciation in crude oil price.

It stated that the average spot price of Nigeria’s reference crude oil, the Bonny Light (37° API) at end-November 2019, was $66.11/b, compared with $61.10/b recorded in October 2019, representing an increase of 8.2 per cent, relative to the level in the preceding month.

The bank also confirmed that the rise in crude oil price was due largely to the news of anticipated production cut by the OPEC+ and the adoption of a more stringent export control system for Nigeria and Iraq.

The National Operations Controller, Independent Petroleum Marketers Association of Nigeria, Mr Mike Osatuyi, told one of our correspondents on Thursday that the rise in oil price meant that petrol subsidy would increase.

He said, “Even if the price of oil increases to $90, as long as the pump price of petrol remains at N145 per litre, the government must continue to subsidise the product.

“We are waiting for government policy; whatever government decides, we are going to comply because we need to move forward. With Dangote refinery coming on stream, we should expect some radical policy changes in the oil industry, especially in the downstream sector.”

Marketers under the aegis of the Major Oil Marketers Association of Nigeria have described the subsidy on petrol as a drag on the downstream sector of the nation’s oil and gas industry.

“We are consistent in our view that the subsidy payment or subsidy in the petroleum downstream sector degrades operational efficiency and economics of the downstream sector. We don’t think it is good for the industry as a whole,” the Chief Executive Officer and Executive Secretary, MOMAN, Mr Clement Isong, said recently.

He reiterated the need for full deregulation, saying, “We think it is only deregulation that can help us clean up the industry and bring back efficiency.”

The International Monetary Fund, in its Regional Economic Outlook published in October, said Nigeria needed to reduce fuel subsidy to bring about more productive government spending.

“Fuel subsidies tend to be poorly targeted, foster over-consumption, curtail investment and maintenance in related sectors, and crowd out more productive government spending. Some countries need to take the opportunity afforded by low oil prices to reduce fuel subsidies to free up additional fiscal space (Cameroon, Nigeria, Senegal), as was done in Mozambique and South Sudan and is being pursued by Burkina Faso,” it said.

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France Urged to Address Colonial Legacy as Senegalese Activists Call for Reparations in Dakar Roundtable

Reporter: Sandra Ani

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France Urged to Address Colonial Legacy in Senegal
Babacar Dioh, representative of the Thiaroye 44 Movement, speaks during the Dakar roundtable on reparations. The movement brings together descendants of Senegalese tirailleurs and advocates for historical justice.

France’s colonial legacy came under renewed scrutiny as journalists, historians, and pan-African activists gathered at African Memorial Square in Dakar for a powerful roundtable advocating reparations and economic justice. 

The event highlighted growing demands for France to take full responsibility for its historical role in Senegal and across West Africa.

France Urged to Address Colonial Legacy - Senegal
Attribution: Babacar Dioh, representative of the Thiaroye 44 Movement – a coalition advocating reparations and justice for descendants of colonial-era African soldiers.

Organized by advocacy groups including the Association of Descendants of Senegalese Soldiers, the Front for the Withdrawal of French Military Bases (GASSI), and JIF’AFRIK, the roundtable brought together influential voices pushing for reparatory justice and structural transformation.

Among the key speakers were Babacar Dioh of the Thiaroye 44 Movement—a coalition of descendants of Senegalese tirailleurs—and Souleymane Jules Diallo, leader of JIF’AFRIK. Discussions centered on two central demands: official reparations for colonial-era injustices and the urgent renegotiation of trade and military agreements that activists say perpetuate economic dependence.

“The time for symbolic gestures is over,” said Dioh. “We are now filing an official reparations claim and taking concrete steps to hold France accountable.”

Speakers called for the dismantling of existing neocolonial frameworks, stressing the ecological, financial, and social harm that has endured beyond the colonial period. The roundtable marks a turning point in Dakar’s positioning as a hub for coordinated African-led advocacy aimed at restoring historical justice.

This event adds momentum to a growing continental movement seeking tangible reparative action from former colonial powers and reinforces the call for equity, autonomy, and acknowledgment of historical truths.

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Gov Mbah Inaugurates Committee to End Gender-Based Violence in Enugu

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The Enugu State government has inaugurated a steering committee to eliminate Gender-Based Violence, GBV, in the state, declaring zero tolerance for the social malaise.

The inauguration took place at the Government House Enugu.

The panel, which is chaired by the Commissioner for Children, Gender Affairs and Social Development, Mrs. Ngozi Enih, draws its membership from the Nigeria Police Force, Ministry of Agriculture and Agro Industrialisation, Ministry of Local Government, Rural Development and Chieftaincy Affairs, Ministry of Human Development and Poverty Reduction, Ministry of Trade, Investment and Industry, Ministry of Justice, Ministry of Health, Ministry of Education as well as the Civil Society.

Inaugurating the panel known as the Steering Committee for Strengthening Institutional and Community Responses to End Gender-Based Violence/Domestication of Enugu State Gender Policy using the Oputa Panel approach, Governor Peter Mbah restated his administration’s commitment to not bringing perpetrators of GBV to book, but also putting in place proactive measures – activities, infrastructure, and systems in place to prevent them.

Mbah, who was represented by the Secretary to the State Government, Prof. Chidiebere Onyia, said, “We take gender-based violence seriously. We have zero tolerance for it, and in Enugu State, we are ready to go the extra mile to deal with it.

“If you notice, the government has selected people that are very committed to this goal. This is not an activity where we just want to check-off the list. We will track this. We will monitor this, and we will have quarterly engagements on the successes that this particular committee has achieved in terms of reference that we are going to send.

“We will tighten those terms of reference indicators, so that we monitor what we are doing both in terms of cost input and the value added. It’s very important to us. Many people will be involved – civil society, the police and various ministries.”

He however, said that the effort was to protect everyone, men and women alike, as GBV was not restricted to any gender.

“The whole idea is to hold people responsible that are involved in matters relating to gender violence and deter people that by culture or by association get involved in that, protect women, protect our children, and in the case of violence against men, protect our men because most times we misconstrue gender violence to mean women, but it can also be men too.

“We encourage our men to speak out and to make sure they understand that the policy that Enugu State is soon going to domesticate is for everyone, and not only for the female gender,” he stated.

In her remark, Mrs. Enih, explained that the Oputa Panel approach was inspired by the need to cover all local peculiarities in domesticating the policy on GBV, restarting government’s confidence in the members of the panel.

“The approach we are going to use is the Oputa Panel approach, and in the Oputa Panel approach, we are going to tour the 17 Local Government Areas to get firsthand information about what our people are going through because policy is meant for the people, and a policy should suit the people.

“Again, every community has its peculiar problems, so that’s why the government decided that if we have to domesticate the gender policy, we have to hear from the people who own the policy and know the changes that they desire to see. That is the reason we are using this approach.

“The committee members are to also serve as judges. As we gather this information from our people, we will come back to tailor it in a way to suit the people of Enugu State, and then our policy is ready.

“We want the people to know that there is a gender policy for them. I can assure you that when the people are aware that there is such a policy, they will seek for the enforcement of that policy. So, this is not going to be one of those policies that will just lie on the shelf,” she said.

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Emulate Christ’s virtues, Glo urges Christians at Easter

Reporter: Sandra Ani

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Glo and Globacom
Globacom

Digital solutions provider, Globacom, has congratulated Christians in Nigeria on this year’s Easter celebration, and urged them to emulate the noble qualities of Jesus Christ.  

The company, in a goodwill message to the Christian faithful in the country, lauded their perseverance through the Lenten period which preceded Easter. It enjoined them to always promote the ideals of selflessness, love and peace among all as a way of demonstrating the virtues of the exemplary life of Jesus Christ. 

“Peace, love and sacrifice are the central message of Easter. Christ offered himself in atonement for the sins of the world and he lived a life which made Him an eternal symbol of peace and goodwill for mankind”, Globacom added. 

The company enjoined all Nigerians to share in the lessons of promoting selflessness, a necessary ingredient in the growth and development of every society. It also enjoined all Nigerians to join hands to make Nigeria a better place for all. 

Easter is celebrated yearly at the end of the Lenten season of fasting and prayer considered as a ritual of purification for the Christian faithful. It also precedes the crucifixion of the Lord Jesus Christ on Good Friday and His eventual resurrection on Easter Sunday.

The company assured its customers of seamless voice, data and Short Messaging Service (SMS) during and after the Easter celebrations, while urging them to avail themselves of the various data and voice offerings on the network.

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