PUTIN WOOS AFRICAN LEADERS AT SHOWCASE SUMMIT, SAYS RUSSIA IS BETTER PARTNER THAN 'COLONIAL' WEST. (PHOTO).

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 Putin woos African leaders at showcase summit, says Russia is better partner than 'colonial' West President Vladimir Putin told African leaders ​on Wednesday that Russia was their best partner, accusing what he cast as a colonial West of still trying ‌to exploit the continent's resources and using debt to hold back development, Reuters reported. The Kremlin chief was speaking at the third Russia-Africa Summit in Moscow, a two-day event attended by African leaders and government delegations from 48 countries, during which he will hold one-on-one talks with many of the 22 individual African leaders ​attending on everything from trade to security, arms deals and grain supplies. "Africa is increasingly asserting itself as one of the key players in the global economy and politics. However, the emergence of a multipolar world is, of ​course, no easy task; it faces resistance from countries that are not prepared to accept this reality: those who are accustomed to ​thinking i...
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NO JUSTIFICATION FOR FUEL SCARCITY,PRICE HIKE- PENGASSAN. (PHOTO).

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No justification for fuel scarcity, price hike — PENGASSAN

31 January 2023 

The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has said that there is no justification to the current fuel scarcity and the hike in the price of Premium Motor Spirit, PMS.

It called on the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), to revoke licenses of any marketers found to be selling petrol above the approved price.

A statement signed by PENGASSAN’s President, Comrade Lumumba Okugbawa, and General Secretary, Comrade Festus Osifo, on Monday in Abuja, insisted there was no justification for the current petrol scarcity hike in price as being witnessed nationwide.

While noting that there was enough petrol to last Nigerians for the next 30 days and more, the union accused some marketers of creating artificial scarcity of petrol, with the aim of having the product sell at a higher price.

The statement partly reads: “PENGASSAN empathizes with Nigerians on the hardship currently faced with the scarcity and drastic hike in the price of PMS.

“While we understand that the parameters imputed into the old PPPRA and now NMDPRA template have since changed because of some economic vagaries such as exchange rate fluctuation, vessel hiring cost and cost of AGO amongst others, there is no sufficient justification for PMS (Petrol) to be selling for a such highly inflated price, thereby subjecting the masses to further difficulties.”

 

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