Kaduna State Security Council Imposes 24 hour curfew on Kaduna and Zaria Metropolitan Cities
The Kaduna State Security Council under the leadership of Governor Uba Sani, following a review of the security situation in the State, hereby notifies citizens of the following:
1. There is sufficient evidence to clearly indicate that the ongoing protest has been hijacked by criminal elements who have resorted to looting of shops and destruction of private and public property.
2. In view of this unfortunate development, the Kaduna State Security Council has unanimously resolved to impose a 24-hour curfew on Kaduna and Zaria Metropolises and environs with immediate effect.
3. Citizens are advised to remain indoors while security forces continue to work to maintain safety and security.
4. Monitoring will be sustained for review of the curfew as required.
Samuel Aruwan
Overseeing Commissioner,
Ministry of Internal Security and Home Affairs, Kaduna State
5th August 2024
UPDATE: A truck full of grains fell within the heart of Sokoto yet, despite living in 'Govt plagued' penury and abject hardship, Sakkwatawa weirdly comported themselves and didn't resort to looting. I doff my hat!
WILL PETROL PRICE CRASH?
Well, well, well, it seems like the burning question on many people's minds is whether the Dangote Refinery will bring the pump price of petrol down. The answer, my dear friends, is a resounding "it depends!"
Now, let me break it down in simple terms, and please others with more knowledge can chime in with their own knowledge and insights.
1.) The cost of crude oil, the exchange rate of the Dollar to the Naira, and government interventions (i.e., subsidies, taxes, levies, etc.) are the biggest factors in determining the price of petrol, diesel, kerosene, and other petroleum products to the consumer.
2.) Nigeria will sell crude oil to the Dangote Refinery at international prices. If it sells it for less, it would be a form of subsidy.
3.) Today's crude oil price is hovering around $73 per barrel. This translates to approximately NGN 90,000 per barrel.
4.) A barrel of crude oil yields about 170 liters of refined products. If you divide NGN 90,000 by 170 liters, you get NGN 530 per liter.
5.) So, the cost of the raw crude oil alone comes to about NGN 530 per liter. That's how much the Dangote Refinery would pay on average per liter of products it produces.
6.) Mind you, petrol production costs even more, so adjusted for that, petrol would cost more per liter, say N600 per liter.
7.) Next, you have to consider the actual cost of running the refinery, the Dangote Refinery margin, taxes and levies, transportation to various gas stations across the country, and the retailers' margins!
8.) So the actual cost (not talking of any profit for anyone) with today's exchange rate and the price of crude oil already makes the cost to a number that is a lot more than NGN 600 per liter
9.) By the way, the reason why PMS is now selling for around NGN 620 - 670 per liter today is because the NNPC is subsidizing it.
Now, back to the original question: Will the price of petrol come down? The answer is "it depends!" There are many factors at play here!
If the excahnge rate comes down, or if the price of crude comes down, the price should come down. And vice versa!
That said, even if the price of petrol doesn't come down, the refinery will be great for Nigeria in a number of ways:
1.) Fueling Job Creation: The refinery is expected to create thousands of direct and indirect job opportunities.
2.) Saving on Forex: Nigeria will no longer need to import refined petroleum products, saving billions of dollars annually. Nigeria can now spend that money on other important things.
3.) Stabilizing the Naira: Petroleum products are the biggest drain on the nation's forex. Eliminating this demand will create more supply of dollars than demand, reducing and ultimately stabilizing the value of the Naira.
4.) Reduction in Inflation: If the exchange rate comes down, inflation will naturally come down as well.
5.) Boosting Local Industries: The Dangote Refinery is like a superhero, swooping in to save the day for allied industries. It's like a rising tide that lifts all boats.
6.) Ending Fuel Shortages: With the Dangote Refinery on the scene, Nigeria can finally say goodbye to those pesky fuel shortages.
7.) A New Era of Self-Sufficiency: The Dangote Refinery is set to make Nigeria self-sufficient in petroleum refining, which is a huge step forward for the country. It's like learning to make your own cake instead of always relying on your neighbor to bake it for you.
So, there you have it, folks! An analysis of the possibility of petrol prices coming down and the potential impact of the Dangote Refinery on Nigeria's economy explained in a simple way.
In keeping up with my promise, I paid another nocturnal visit to the Muhammad Abdullahi Wase Teaching Hospital, in the early hours of Tuesday.
While there, we took note of the hospital’s condition and the necessary actions to be taken. - AKY
So excited to have read the news that the rail track installation from Port Harcourt to Aba on the Nigeria Eastern Narrow-Gauge Railway (Port Harcourt—Maiduguri narrow gauge railway) project has been completed by @CCECC8. In March 2021, former President Muhammadu Buhari flagged off the commencement of this crucial and major infrastructure development that includes new branch lines, the Bonny Deep Sea Port, and a Railway Industrial Park in Port Harcourt, Rivers State.
Kano State Police Command dismantled Human Trafficking Syndicate that specialized in Abduction, Buying and Selling of Minors; Arrested nine (9) syndicate members and rescued seven (7) abducted victims.
The @GovKaduna and indeed other instruments of Government are on the matter. Mal. Nasir @elrufai and Commissioner Haj. @HafsatMohBaba do not support use of violence in schools and communities. Rest assured that the right actions will be taken.
During our inspection tour of the Lagos-Ibadan rail line today, I reaffirmed that the contractors must continue to work in accordance with our design specifications.
Just some minor touches left to reach total completion of this line.
We are pleased to announce the Ground breaking of the Kano-Maradi, Kano-Dutse Railway Project, slated for Tuesday. Our @NGRPresident@MBuhari would do the honours. Work begins.