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Fuel Scarcity Looms as Tanker Owners Withdraw Vehicles Today
Tanker owners have said they will halt the transportation of petroleum products starting today, raising the fear of another fuel scarcity crisis in the country.
Speaking under the aegis of the Nigerian Association of Road Transport Owners (NARTO), the tanker owners said this decision stems from the soaring operational costs experienced by its members, primarily due to the exorbitant price of diesel needed to fuel their trucks for product transportation nationwide.
This is as petroleum products marketers are seeking for adjustment on pump price to cushion the effect of the constant upward movement of dollar that has impacted on their operational costs.
NARTO, in a letter dated February 15th 2024, notified the secretary general of NUPENG, of its intention to withdraw the lifting of products.
In the letter signed by Yusuf Lawal Othman, NARTO’s national president, the transporters placed their grievance on the table insisting that it will down tools from today Monday February 19, 2024.
Among their grievances is failed negotiations for appropriate and commensurate freight rate for its operations .
Othman noted that the existing rate is not supporting members’ operations and until a review is approved they will not return to work.
Concerns over the escalating diesel prices have been repeatedly voiced by NARTO members, who play a crucial role in transporting petroleum products across the country. According to oil marketers, the current price of diesel ranges between N1,250 to N1,400 per litre, varying depending on the location of purchase.
He highlighted the stagnant freight rates, which have remained unchanged despite significant increases in operational costs. Othman pointed out that while the cost of essential consumables has surged due to the depreciation of the local currency against the dollar, freight rates have remained stagnant since the previous administration.
“For instance, the freight rate from Lagos to Abuja has remained the same since former President Buhari’s tenure, despite the dollar exchange rate nearly tripling.
This inconsistency is unsustainable for our members,” he said.
Othman further illustrated the financial strain faced by transporters, citing examples of operating costs exceeding earnings. He said that the meagre payments received for local trips barely cover expenses such as fuel and maintenance, let alone other operational overheads.
In addition, the association has raised concerns about delayed payments from oil marketers, exacerbating cash flow problems for transporters.
NARTO has also called for regulatory reforms to address issues such as limited access to depots, ambiguous regulations, and difficulties in accessing affordable financing for vehicle maintenance and upgrades.
Meanwhile, speaking with Leadership correspondent, Clement Isong, executive secretary of Major Energies Marketers Association of Nigeria, (MEMAN) clearly stated that the current rate on the part of marketers is not even sustainable.
Isong said that though MEMAN is negotiating with transporters, it is beyond them to determine the rate chargeable for lifting of products.
He said, it will be unlawful for MEMAN to determine rates for transporters but noted that with the current exchange rate it is a strain on their business to continue to operate with existing rates.
The products are dollar priced and the exchange rate is not economically supporting business anymore.
Elder Chinedu Okoronkwo, immediate past president of the Independent Petroleum Marketers Association of Nigeria (IPMAN) in his response advised authorities to listen to the demand of the transporters as business is actually collapsing under the exchange rate regime.
Credit : Leadership
News
ARCON to Sanction Perpetrators of Misleading Adverts
Advertising Regulatory Council of Nigeria (ARCON) has expressed concern over the proliferation of unethical advertisements on Meta-owned platforms, including Instagram and Facebook.
The regulator criticised individuals and organisations promoting unverified health claims, warning that such practices endanger public health and violate advertising laws.
In a statement signed by Dr. Olalekan Fadolapo, its director-general, ARCON, announced plans to sanction those responsible for these misleading advertisements.
The agency highlighted that many of the claims lack scientific or clinical validation, putting Nigerian consumers at risk.
“Investigations reveal that these products are not certified by relevant regulatory agencies and may be unsafe for use. Advertisers exploit the unregulated nature of online platforms to circulate these unapproved ads,” ARCON stated.
The agency further explained that the ads were neither submitted to nor approved by the Advertising Standards Panel (ASP), a statutory body tasked with ensuring compliance with the Advertising Regulatory Council of Nigeria Act No. 23 of 2022.
The ASP’s role includes vetting advertisements for ethical standards and adherence to Nigerian laws.
Some of the products include, Hookup Kit Runs Girl Package (It brings only rich and wealthy men to you), Nancy Secret Kayamata (Come and lock ur stubborn clients with us), Extreme Control Set (It comes with attention, love, control/command products to make your man grant your heart desires), Nancy Secret Kayamata (Very effective result is guarantee…) and Big Girls Soap (This is a special product for ladies that are expecting rich men & also favour from them and contractors can use it as well).
Dr. Edheba Trado Medical Centre also made two claims (We specialize in all bones dislocations, fractures, all spinal injuries; and Absolute treatment for all cases of high blood pressure)
While five claims were made by Billz Herbal Wellness (Bring all your ‘gbola’ issues to bills … I can help you get rid of that stubborn infection as well; Na ‘gbola’ wey sweet woman de fight for; Make it stronger, longer and last longer in bed; Meet the infection terminator; and Stop scratching and treat infection).
Jinja Herbal Extracts also has five claims (For treatment of infections, diabetes and others; The solution for all kinds of infections; Stabilises blood sugar level; Don’t let this lucrative opportunity pass by; and Boost your health with our super unique Jinja Herbal Extracts).
News
Nigeria’s Education Reform: 16 New Trades Added to Curriculum
As part of efforts to reform the Education sector in Nigeria, the Federal Government has announced the addition of hairstyling, plumbing, GSM repair, makeup and 12 other new trades/new subjects to the basic education curriculum.
The National Orientation Agency (NOA) disclosed this in a statement released. The new trades were added to the Basic Education curriculum to boost students’ practical skills and employability.
The subjects include plumbing; tiling and floor works; POP installation; event decoration and management; bakery and confectioneries; hairstyling; makeup; interior design; GSM repairs and satellite/TV antenna installation.
Others are CCTV and intercom installation and maintenance; solar installation and maintenance; garment making; agriculture and processing (including crop production, beekeeping, horticulture and livestock farming like poultry and rabbit rearing), and basic digital literacy (including IT and robotics).
The statement mentioned that the new subjects will take effect from January 2025 for primary and junior secondary students across the country.
News
Social Impact Champions Call for Business Investment in African Women and Girls
Social impact and industry leaders have called on Global Conglomerates, African Businesses, Philanthropies and Foundations meeting in Davos to support the advancement of social progress for African women and Girls.
Leaders who attended the two events organised by Brands on a Mission (BoaM), Children’s Investment Finance Foundation (CIFF) and Tiko – a non-profit leveraging technology to transform sexual and reproductive health – emphasised the social and economic advantages that can be won through investment in African women and girls.
BoaM Founder and Chief Mission Officer Professor Myriam Sidibe said, “as a woman and a lifelong advocate for sustainable business practices, I have witnessed the transformative power of investing in Africa’s greatest resource: its girls. They are not only the future of our continent but also the untapped potential that can drive unprecedented economic and social change.”
Investment in women and girls, who make up 50 percent of Africa’s population – makes good business sense with African women and girls driving up to 70 percent of consumer spend and acting as key decision-makers for four out of five products purchased in their households. Protecting the interests of women and girls also protects the interests of economic growth on the African continent.
According to the World Health Organisation, poor access to Sexual and Reproductive Health and Rights services and products is to blame for approximately 73 million induced abortions that take place in Africa while over one million sexually transmitted infections (STIs) are acquired every day. Almost one in three women, across their lifetime have been subjected to physical or sexual violence by an intimate partner, or sexual violence by a non-partner and almost half of all abortions are unsafe.
Professor Sidibe said, “in a rapidly evolving global landscape, businesses are increasingly challenged to find meaningful ways to align profit with purpose. Investing in African girls offers a unique opportunity to bridge this gap. By empowering young women through education, skills development, and access to critical resources, we lay the foundation for vibrant markets, resilient communities, and innovative ecosystems.”
The organisers of the two events held at the Goals House and SDG (Sustainable Development Goals) tent called for a world in which private sector investment in evidence-based, impact-first initiatives in service of African girls and young women is the norm and not the exception.
The World Economic Forum in Davos brings together government, business, and civil society to address key global and regional challenges such as responding to geopolitical shocks, the climate crisis and stimulating growth to improve living standards.
Speakers at the first event held at the Goals House included moderation by Professor Myriam Sidibe, Founder and Chief Mission Officer, Brands on a Mission with speakers including Paul Polman, Business Leader, climate and equalities campaigner; The Honourable Dr. Jumoke Oduwole, Minister of Trade, Investment, and Industry of Nigeria; Nicola Galombik, Executive Director of Yellowwoods; Payal Dalal, Executive VP of Global Programs at the Mastercard Center for Inclusive Growth; and Sophie Hodder, Director and Pillar Lead, Girl Capital Africa at the Children’s Investment Fund Foundation (CIFF).
The second event at the SDG tent included moderation by Professor Myriam Sidibe, Founder and Chief Mission Officer, Brands on a Mission and speakers including Sophie Hodder, Pillar Lead and Director, Girl Capital Africa – Children’s Investment Fund Foundation (CIFF), Ndidi Okonkwo Nwuneli, President/CEO – One Campaign, Hermann Betten, Chief Corporate Affairs & Communications Officer, Flora Food Group and Benoit Renard, Co-founder & CEO – Tiko.
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