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NNPC Increases Petrol Price To N998 Per Litre

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The Nigerian National Petroleum Company (NNPC) Limited has increased the price of premium motor spirit (PMS), also known as petrol, across its retail outlets.

 

The price of the product increased to N998 per litre in Lagos on Wednesday.

 

NNPC increased the pump price from N855 per litre set in September.

 

Most of the retail outlets in Lagos have adjusted the price of PMS to N998 per litre.

 

Also, some private filling stations have started adjusting their prices, with some Mobil filling stations adjusting its pump price to that of NNPC.

 

The price development comes weeks after the NNPCL commenced petrol lifting at the Dangote Petroleum Refinery’s gantry after an extended period of price negotiations.

 

NNPCL filling stations across the country have also increased petrol price to ₦1,075 per litre.

 

This is the third increase in 30 days.

 

The new price are: Lagos – ₦998; South West – ₦1,025; Abuja,FCT – ₦1,030; South East – ₦1,045; South South – ₦1,075; and North East – ₦1,070.

 

NNPCL has been buying PMS at ₦898/l from Dangote Refinery, and selling to marketers at ₦765/l, therefore covering the offset of ₦133.

 

Recently, the state oil giant said it was no longer sustainable and reportedly end their exclusive partnership with Dangote Refinery.

 

With this new price, independent marketers may sell up to ₦1,300.

 

The new pump price has been implemented immediately on Wednesday

morning across the nation.

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Lagos Government Asks Residents Along Ogun River To Relocate As Oyan Dam Plans Water Release

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The Lagos state government has called on residents living along the Ogun riverbanks to “relocate to higher grounds” due to the planned water release from Oyan dam by the Ogun-Osun River Basin Development Authority (OORBDA).

 

Tokunbo Wahab, the commissioner for environment and water resources, emphasized that the relocation is crucial as the release is part of the dam’s annual operations, which are guided by “real-time hydrological data,” rainfall forecasts from the Nigerian Meteorological Agency, and flood outlook reports from the Nigeria Hydrological Services Agency (NIHSA).

 

 

Wahab explained that releasing water from the dam will help “preserve the integrity of the dam” and mitigate its socio-economic impacts on Lagos.

 

 

Although rainfall in the Oyan river catchment area reached 984.1 mm in 2024, lower than the 1,540.8 mm recorded in 2023, it is still considered “within safe operational levels.”

 

 

He noted that current water releases are at 208 m³/s, with “only two gates opened at 12 percent capacity each,” ensuring controlled discharge.

 

Additionally, 62.1 percent of the dam’s flood control capacity is still intact, which means there is no imminent risk of releasing excess water beyond safe limits.

 

Acknowledging the difficulties faced by residents in affected areas like Kara, Mile 12, Agiliti, Ikosi Ketu, Owode, Ajegunle, and Odo-Ogun, Wahab pointed out that “while the flooding experienced in these areas has often been attributed solely to water released from the Oyan Dam, this is not entirely the case.”

 

He further clarified that the downstream section of the Ogun River is influenced by “a complex network of over 52 tributaries” that contribute to rising water levels.

 

 

Wahab added that the OORBDA has started dredging the Ogun River from Ikorodu to the Isheri axis as a proactive measure to “deepen the river channel and enhance its capacity to carry water,” which will reduce the risk of flooding during periods of high inflow.

 

 

He assured that the state government will “continue to closely monitor the situation” and work with relevant agencies and communities to address the challenges.

 

 

Wahab urged Lagos residents to avoid “indiscriminate dumping of waste” in unauthorized areas, refrain from littering roads with pet bottles, and stop blocking drains with silt or construction materials.

 

He also warned against “constructing buildings within and around drainages” and discharging human waste into drains and canals.

 

In conclusion, Wahab appealed to residents to “support our efforts by complementing the government through regular clearing of drains on their frontages.”

 

 

 

 

 

 

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Edo State Governor-Elect, Monday Okpebholo alleges looting, seeks EFCC probe of Edo officials..

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The Edo State Governor-Elect, Monday Okpebholo, on Wednesday, called on banks to halt the granting of loans to the state government during the transition period.

 

He also raised concerns over the alleged looting of government funds and properties by officials of the Governor Godwin Obaseki-led administration.

 

In a statement released by his Special Assistant on Media, Godswill Inegbealso, Okpebholo called on the Economic and Financial Crimes Commission and the Department of State Services to investigate the matter.

 

On Tuesday, the All Progressives Congress set up a 24-member transition committee, led by former Deputy Governor Pius Odubu, to meet with the state government committee ahead of the handover on November 12.

The statement read: “With great shock, we regret the widespread reports of looting of government funds and properties by officials of the outgoing administration from the Government House, Benin City.

 

“It is sad that barely one month to the handover, the outgoing administration of Governor Godwin Obaseki is still allegedly obtaining loans from banks and other financial institutions under very shady headings.

 

“We are also aware of the massive looting and vandalism of properties, including vehicles, furniture, gadgets, household utensils, and even carpets from offices and residences of the Edo State Government.

 

“This unacceptable behaviour undermines the trust and faith of our citizens in those entrusted to serve them over the past seven years.

 

“In light of the foregoing, we call on the relevant authorities, including the EFCC, police, and DSS, to investigate the allegations thoroughly and ensure that those found guilty are held accountable while protecting Government House and offices from vandals.”

 

It added: “Banks and other financial institutions are, by this notice, cautioned to desist from any dealings that would undermine the finances of the state, especially the granting of loans to the Edo State Government during this transition period.

 

“The Accountant General of Edo State is hereby advised to uphold the principle of integrity in his duty, as it is the only action that will put his name in gold.

 

“We want to state unequivocally that there will be dire consequences for any act of impunity and theft committed by any person or institution found wanting in this regard.

 

“We will continue to monitor the situation until the last day of the outgoing administration. Senator Monday Okpebholo will not condone any form of unethical behaviour, as he stresses a zero-tolerance policy for corruption.”

 

When contacted, the Commissioner for Orientation and Information, Chris Nehikhare, said he would respond to the statement on Thursday.

 

Meanwhile, the government has advised Okpebholo’s associates to wait until November 12 to commence governance, rather than making spurious allegations and claims aimed at creating the impression that there are two governors in Edo State.

 

A statement by the Special Adviser on Media Projects, Crusoe Osagie, described the statement from Okpebholo’s media assistant as spurious, noting that it was not only incoherent and riddled with fake news, but also contained unfounded conjectures aimed at undermining the government.

 

He said: “A self-styled special assistant, whom nobody knows, issued a statement to create the impression that there are two governors in Edo State.

 

“Assuming he is truly speaking for the Governor-Elect, Monday Okpebholo, the immodesty is most reprehensible. He made wild allegations, which he cannot substantiate because they are barefaced lies.

 

“It is quite understandable that these elements are angling for jobs, but there must be some clear-headedness and not this resort to outlandish and amateurish mudslinging.

 

“The next administration begins on November 12, 2024, and actors representing the incoming administration should wait for this date to arrive before they begin to govern, as there cannot be two governors of Edo State at the same time.”

 

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U.S. Govt Seeks Forfeiture Of Allen Onyema’s $14m Assets Over Alleged Fraud

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The United States government has asked a US District Court, Northern District of Georgia to approve the forfeiture of approximately $14 million in assets from Allen Ifechukwu Athan Onyema, the CEO of Air Peace, following a recent superseding indictment.

 

This is contained in an indictment, which outlining serious allegations of fraud and money laundering against Onyema and his associate Ejiroghene Eghagha, who is the Chief of Administration and Finance at Air Peace.

 

The indictment includes multiple counts against the defendants: Count One alleges conspiracy to commit bank fraud, while Counts Two through Four detail instances of bank fraud.

 

Count Five pertains to conspiracy to commit credit application fraud, followed by Counts Six through Eight for credit application fraud. Additionally, Counts Nine through Thirty-Five address charges of money laundering.

 

 

If convicted of the offenses outlined in Counts One through Five, the defendants will be required to forfeit any property derived from the alleged criminal activities, including significant sums held in bank accounts tied to their businesses.

 

Specifically, the U.S. government seeks forfeiture of:

 

$4,017,852.51 from a JP Morgan Chase Bank account held by Springfield Aviation Inc.

$4,393,842.05 from a Bank of Montreal account, also associated with Springfield Aviation Inc.

$5,634,842.04 from another Bank of Montreal account linked to Blue Stream Aero Services, Inc.

The indictment further states that if any of the forfeitable properties cannot be located, have been transferred, or diminished in value, the U.S. intends to seek the forfeiture of other assets belonging to the defendants equivalent to the value of the forfeitable properties.

 

 

 

The legal actions are being pursued under the oversight of U.S. Attorney Ryan K. Buchanan, along with Garrett L. Bradford and Christopher J. Huber.

 

Recall that the U.S. government indicted Allen Onyema, CEO of Air Peace, on charges of obstruction of justice.

 

Onyema was said have allegedly submitted false documents to hinder a federal investigation into bank fraud and money laundering, alongside Ejiroghene Eghagha, the airline’s Chief of Administration and Finance.

 

 

The U.S. Attorney’s Office claims that Onyema and Eghagha used fraudulent export letters of credit to transfer over $20 million into U.S. bank accounts between 2016 and 2018, intended for purchasing five Boeing 737 aircraft. Investigations revealed that the documentation was falsified and that Springfield Aviation, owned by Onyema, had no legitimate role in aviation transactions.

 

Following the initial charges, the indictment states that Onyema and Eghagha instructed a manager at Springfield Aviation to sign a backdated contract, which was then submitted to U.S. authorities to obstruct the investigation and unfreeze bank accounts.

 

U.S. Attorney Ryan K. Buchanan emphasized that Onyema used his airline as a cover for fraud and attempted to impede the investigation.

 

 

In response to the obstruction of justice indictment against Allen Onyema and Ejiroghene Eghagha, Air Peace Limited acknowledged that the charges are part of an extended legal process related to previous financial misconduct allegations.

 

The airline emphasized that both executives remain innocent until proven guilty, and assured the public that ongoing legal proceedings will not impact the safety or daily operations of the airline.

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