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What I told Tinubu when he visited me – Obasanjo

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Former President Olusegun Obasanjo shared one of the jokes he made with the Presidential candidate of the All Progressives Congress (APC), Asiwaju Bola Ahmed Tinubu, when he visited him in his Abeokuta residence on Wednesday

It would be recalled that Tinubu, on Wednesday visited the ex-president at his Penthouse, located within the premises of the Olusegun Obasanjo Presidential Library, One Mosan, Abeokuta.

Tinubu was accompanied by two former governors of the state, Chief Olusegun Osoba and Otunba Gbenga Daniel, billionaire businessman, Femi Otedola, and former interim national chairman of APC, Chief Bisi Akande, Speaker of the House of Representatives, Femi Gbajabiamila, among others.

Both Obasanjo and Tinubu refused to address the media after their closed-door meeting.

Obasanjo, while speaking at the inauguration of a 300-man planning committee on the installation of the new Olowu of Owu, Oba Saka Matemilola, said he told Tinubu that he had added two phrases to Yoruba vocabularies.

He said: “We now have two vocabularies in the Yoruba dictionary, ‘Emilokan’ and ‘Olule’. These two vocabularies are now popularly used”.

“I asked Bola and he laughed. I said whether the vocabularies are good or bad, we have started using them.”

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Fuel queues hit Abuja, other cities after Tinubu suspended subsidy

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File: Motorists on long Fuel queues at NNPC Petrol station at CBD Abuja

Subsidy can no longer justify its ever-increasing costs in the wake of drying resources, says Tinubu

Fuel queues returned to Nigerian cities Monday as many motorists scrambled to get petroleum products hours after President Bola Tinubu announced that the government will put an end to the fuel subsidy regime.

Tinubu on Monday in his inaugural address at Eagle Square, Abuja, declared that there would no longer be a petroleum subsidy regime as it was not sustainable.

He said the current 2023 budget only has provision for the fuel subsidy till June, adding that the funds meant for subsidies will be diverted to creation of public infrastructure, education, health care and jobs.

“We commend the decision of the outgoing administration in phasing out the petrol subsidy regime which has increasingly favoured the rich more than the poor. Subsidy can no longer justify its ever-increasing costs in the wake of drying resources.

“We shall, instead, re-channel the funds into better investment in public infrastructure, education, health care and jobs that will materially improve the lives of millions,” Mr Tinubu said.

But hours after the declaration, fuel queues resurfaced in major cities across the country amid uncertainty over the effect of the new policy.

Queues

A PREMIUM TIMES correspondent who visited petrol stations around Abuja metropolis Monday evening found that queues have yet again resurfaced in the city.

Across the nation’s capital city, some filling stations were under lock and key while some were besieged by motorcyclists, tricycle owners, as well as private and commercial drivers.

Many filling stations in the Lugbe area of Abuja sold petrol at prices ranging between N194 and N198. Outside Abuja, residents said fuel stations sold petrol for N230.

On Monday evening, a long queue of motorists was observed at the NNPC filling station along Airport Road, Lugbe.

Shafa, Fynefield and NNPC fuel stations at Apo sold petrol to motorists at prices ranging between N194 and N198, while Mobil, MRS and Ashafa along Lugbe Airport Road were also open to customers.

Some other filling stations were, however, shut against motorists and tricycle riders.

A car owner, Nwekefero Munachi, at the NNPC filling station along Airport Road, Lugbe, said: “As I was driving down from town, I saw a queue at the filling station but I don’t know what the cause may be. So as I approached Lugbe, I noticed another queue. I can’t place my hand on what the queue is all about. But all I know is that there are queues in filling stations.”

The same trend was witnessed in Lagos, Ogun, and Ado-Ekiti, the capital of Ekiti State Lagos, Ogun

In Lagos, Nigeria’s commercial nerve centre, fuel queues surfaced around the Ojodu and Berger axis Monday evening as motorists scrambled to get fuel ahead of resumption of work Tuesday

A commercial motorcyclist, Ibrahim Adeleke, said he noticed the queues about two days ago but things got worse Monday after Mr Tinubu said the subsidy regime has ended.

“People don’t know what will happen and petrol station owners too are not certain of what the new government will do,” he said.

In Akute area of Ogun State, some of the popular fuel stations were shut Monday evening.

Ekiti

In Ekiti, there were long queues at some of the major fuel stations visited. The filling stations were seen dispensing petrol at N230 while many remained shut.

At the Furasat filling station Okebareke, in Ido Ekiti, Tunde Ajayi, a motorist at the station, attributed the fuel queue to subsidy removal.

“This is surprising, people have started panic buying just with the announcement of subsidy removal.

“We used to buy it for N230 per litre before and now it is still the same price but people already believe that with the president’s announcement fuel price might go up,” Mr Ajayi said.

“I’m here to buy and store so I can manage it before the filling station starts increasing their litre price,” he added.

Kenneth Onyebuchi, a civil servant said: “I’m not sure this is because of the subsidy removal announcement, I think this is because of the long holiday. You know tomorrow is work so I just think people are just coming out to fill their cars.

“If it’s because of what the president said we will know within the week,” he said.

A car owner, John-wisdom Nwali, said “As I was driving towards my house, I observed a queue in the filling stations and I decided to stop and refill my tank. Another round of fuel scarcity should not be encouraged in this regime because we have suffered a lot in Buhari’s tenure because of scarcity.

“I heard that this recent queue is caused by the government announcement of removing fuel subsidies but I don’t know how true it is,” he said.

Fuel subsidy

The Nigerian government has, for decades, subsidised fuel and fixed retail prices of petroleum products. The payment has, however, threatened the nation’s fiscal position and impacted the government’s ability to fund developmental projects across the nation.

In November 2021, the federal government announced its plan to remove the fuel subsidy and replace it with a monthly N5,000 transport grant for poor Nigerians.

But the government later suspended the plan after the Nigeria Labour Congress (NLC) and Trade Union Congress (TUC) threatened to embark on mass protests.

The Minister of Finance, Zainab Ahmed, in January last year said the government had realised the timing of its planned removal of petrol subsidy is “problematic”, and will worsen the suffering of Nigerians.

She said the government will retain fuel subsidy indefinitely and will work on amending the 2022 budget to provide funds for that purpose. The government added that it would spend N3 trillion on subsidies in 2022.

In the first quarter of 2023, Mrs Ahmed said that it will be more appropriate for the government to begin the implementation of its fuel subsidy policy in the second quarter of the year. She noted that the country needs to exit the fuel subsidy regime because it is a very significant contributory factor to revenue loss.

As concerns were raised over the sustainability of the subsidy regime, the Nigerian National Petroleum Company Limited (NNPCL) also announced that the country was spending over N 400 billion monthly on petroleum subsidies.

The government subsequently said that it will phase out the subsidy regime by the end of the first half of the year.

But in April, the National Economic Council (NEC) suspended the planned removal of subsidy on petroleum products by the end of President Muhammadu Buhari’s administration.

Mrs Ahmed said that the council deliberated on the matter and resolved that the subsidy cannot be removed for now.

On Monday, Mr Tinubu announced that the subsidy regime has ended because it’s not sustainable. (PREMIUM TIMES)

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How Dokpesi died – DAAR management

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Late Chief Raymond Dokpesi

The Management of DAAR Communications Limited on Monday cleared the air surrounding death of its founder, Raymond Dokpesi.

The media mogul breathed his last on Monday in Abuja.

While confirming his death in a statement, the DAAR Communications Group Managing Director, Tony Akiotu, said the late businessman had been ill prior before his death.

He, however, explained that he was on his journey to full recovery before he fell and died during routine exercise on Monday.

“He had been ill in the last few weeks but was on his way to full recovery.

“He had a fall off his threadmill during routine gym exercise.

“Further announcements as regards to burial arrangements will be made by the family,” the statement read.

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Dopkesi: Nigeria has lost a patriot — PDP

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Late Chief Raymond Dokpesi

A statement issued by Debo Ologunagba, National Publicity Secretary, noted that Dokpesi was an exceptionally committed and courageous nationalist, an insightful and loyal party man; a brilliant and resourceful entrepreneur who was steadfast in his selfless contributions towards the unity, stability and development of our great Party and the nation at large.

According to the party, as a patriotic Nigerian, Dokpesi deployed his media empire of Africa Independent Television (AIT) Ray Power FM and Faaji FM to champion the course of national development, promoted greater and affordable access to information across the country, stimulated good governance, enhanced economic growth and development in all critical sectors and opened our nation to international limelight and opportunities.

The statement added: “He was a detribalized Nigerian, who put the interest and wellbeing of our nation above every other consideration and made numerous positive landmarks in our national political, economic and social landscapes.

“Chief Dokpesi’s death is indeed a colossal national loss and a big blow to the PDP family.”

The PDP condoled with the Dokpesi family, the Daar Communication Group, the Government and people of Edo State, the Weppa-Wanno Kingdom, the Edo PDP family and prayed to the Almighty God to grant all the fortitude to bear this devastating loss and to Dokpesi, eternal rest in the Bosom of the Lord.

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