News
MAN says hike in petrol price inevitable
Segun Ajayi-Kadir, the Director – General of Manufacturers Association of Nigeria (MAN) says the increase in the domestic petrol pump price is inevitable.
” Right from the time fuel subsidy was either reduced or removed, it became inevitable that the price may rise. You will also note the sharp decline in the value of the Naira and the impact it is bound to have on the importation of fuel,” Ajayi-Kadir told journalists in Lagos, today.
He was reacting to the recent increase in price of petrol from ₦568 per litre to ₦855 per litre, being implemented across NNPC filling stations.
Ajayi-Kadir, said : “From what I can glean, the reasons for the increase are not far-fetched.
Globally, there is an increase in crude oil prices. Our refineries are not producing and we import fuel.
The increase in cost of crude oil will have direct impact on the cost of importing fuel into Nigeria and expectedly, the NNPC would at some point, adjust domestic prices.”
Impact on economy
So, in terms of what the impact might be and judging from what we have witnessed in the past, the cost of transportation may increase, and so would the prices of goods and services. As the cost of petrol rises, consumers will spend more on transportation and energy, leaving them with less disposable income.
This decrease in purchasing power may lead to reduced demand for non-essential goods and services, affecting businesses across various sectors.
These are pointers to the high possibility of a rise in inflation figures, impacting household budgets.
One is naturally worried about the impact on the already lackluster performance of the manufacturing sector. In particular, there is no doubt that it will add to production input and logistics costs. These will lead to higher prices and in the face of dwindling disposable income of the average Nigerian.
A further deep in consumer demand will see manufacturers’ unplanned inventory rising and reduction in capacity utilization.
Manufacturing performance would be negatively impacted. Businesses may need to adjust their pricing strategies, which could lead to reduced profit margins if consumer demand weakens. Small and medium-sized enterprises (SMEs), which often operate on thin margins, could be particularly hard-hit.
The increased costs could force some to scale down operations or even shut down if they are unable to pass on the additional costs to consumers.
News
Police must pay transport fares, says AIG
” No police officer has the right to enter your vehicle without paying. We should assist one another willingly, not by force,” he said.
• The Assistant Inspector-General of Police(AIG) in charge of Zone 2 Command, Mr Olohundare Jimoh, speaking with transporters at Obalende garage, Lagos State, on Wednesday.
The Assistant Inspector-General of Police, Zone 2 Command, Mr Olohundare Jimoh, has declared that officers must pay fares before boarding commercial vehicles, warning against abuse of authority.
Jimoh spoke on Wednesday at Obalende garage during a sensitisation meeting with drivers and transport workers marking National Police Day 2026.
He stressed that relations between police and the public must be based on partnership, not coercion, urging both sides to support each other voluntarily.
“No police officer has the right to enter your vehicle without paying. We should assist one another willingly, not by force,” he said.
Jimoh called for stronger cooperation to maintain safety and order on roads, insisting there was no conflict between officers and transport unions.
“I don’t collect money from officers. We don’t arrest people arbitrarily. If you have issues with any officer, report directly to me,” he said.
(Vanguard)
News
Tinubu scurries to Jos after Mutfwang’s security brief
President Bola Ahmed Tinubu will leave for Jos tomorrow to commiserate with the state government and residents over recent deadly gun attacks that lefts dozens dead.
This was following Governor Caleb Mutfwang’s security briefing to the President on the recent violent attack in Angwan Rukuba, Plateau State.
During the meeting on Wednesday at the presidential villa in Abuja, Governor Caleb Mutfwang told Mr President that although security forces have restored calm after fresh disturbances involving looters on Wednesday morning, following the deadly Palm Sunday attack that left more than a dozen dead and many others injured.
He said that investigations are continuing to determine the identities or motives of the attackers who are yet to be apprehended .
Presidency source said that President Tinubu was initially scheduled for a planned trip to Ogun State to flag off operations at the Gateway International Cargo Airport on Thursday.
From Jos, the President will travel to Lagos to observe Good Friday.
On Saturday, April 4, he will visit Ogun State to commission projects including the cargo airport.
He will then return to Lagos during the Easter holiday to commission several state infrastructure projects, including the Ojota/Opebi Link Bridge.
Before heading back to Abuja, the president will visit Bayelsa State on April 10 to commission projects completed under Governor Duoye Diri.
News
JUST IN: Tinubu Heads to Jos Tomorrow, Postpones Ogun Trip for 5-State Visits
President Bola Ahmed Tinubu will tomorrow embark on a visit to Jos, Plateau State, as the first leg of a five-state tour across the country.
The Presidency announced that the President has postponed his scheduled trip to Ogun State to enable him to commence the series of official visits.
Details of the remaining four states in the tour are expected to be released by the Presidency in due course.
The development comes as President Tinubu continues nationwide engagements aimed at assessing development projects, interacting with stakeholders, and addressing key national issues in the respective states.
Further updates on the itinerary will be communicated as the visits progress.
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