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Cost of Petrol Per Litre in Nigeria Surges by 28.49% Year-on-year in June 2021

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Cost of Petrol Per Litre in Nigeria Surges by 28.49% Year-on-year in June 2021

The average price paid by consumers in Nigeria for a litre of petrol increased by 28.49% in June 2021 from N128.88 recorded in the comparable period of 2020 to N165.61 in June 2021.

This is contained in the Premium Motor Spirit price watch report, released by the National Bureau of Statistics (NBS).

According to the report, petrol price increased year-on-year but recorded a decline of 1.46% bases on a month-on-month comparison with N168.06 recorded in May 2021.

This indicates a relative decline in the cost of goods when compared to the previous month, a reflection of the statement made by the federal government in May 2021 that petrol price will not increase in June 2021.

The statement was made by the minister of state for petroleum, Timipre Sylva that the current price of petrol will be retained until the engagement with the organised labour is concluded.

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A cursory look at the data shows that the price of petrol in Nigeria has averaged N162.56 in the past year, peaking at N72.68 per litre in March 2021 and a low of N143.63 in July 2020.

It is worth noting that, though there was no budgetary allocation for subsidy in the 2021 budget, the Nigerian government is likely to have begun subsidising fuel prices again. The landing cost of PMS is estimated at N180/litre and currently selling at an average of N165, which represents an average subsidy of N15 per litre.

Recall, that following the launch of the Nigerian Upstream Cost Optimisation Program on 9 February 2021, the Minister of State for Petroleum Resources, Timipre Sylvia hinted at the inevitable increase in the price of petrol as no budgetary provisions for subsidy was made in the 2021 budget.

However, he has maintained lately that there will be no further increase in the price of petrol in Nigeria until the dialogue with the organised labour is concluded.

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Customs Corner

Nigeria Customs Service Reaffirms Commitment to Gender Equality in Decision-Making

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Author: Bashir Muhammad.

The Nigeria Customs Service (NCS) has reiterated its dedication to promoting gender equality in decision-making processes as part of its efforts to combat gender discrimination and gender-based violence.

At a capacity-building workshop on gender inclusivity, co-organized by the World Customs Organization (WCO) and the NCS in Abuja on Monday, April 22, 2024, the Comptroller-General of Customs, Bashir Adewale Adeniyi, reaffirmed his commitment to fostering a gender-inclusive environment within the service.

Acting Deputy Comptroller-General of Customs, Caroline Niagwan, represented the CGC at the event, where she emphasised the need for clear policies and procedures to address gender discrimination, harassment, and biases within the NCS.

“Our aim is to create a workplace where everyone has equal opportunities to grow and contribute to the service’s success, regardless of gender,” the CGC said. “We are committed to addressing gender discrimination, harassment, and biases within our ranks, and we will work tirelessly to ensure that our policies and practices reflect this commitment.”

The workshop brought together customs officials, gender experts, and stakeholders to discuss strategies for promoting gender inclusivity and addressing gender-based violence in the workplace.

With this reaffirmed commitment, the NCS demonstrates its dedication to creating a more inclusive and equitable work environment where all employees can thrive and reach their full potential.

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Customs Corner

ACG Swomen Charges Trained Officers on Weapon Handling to Remain Worthy Ambassadors Customs

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Author: Ibe Wada.

The Zonal Coordinator in charge of Zone A, ACG Hammi Swomen, has charged over 60 officers to remain worthy ambassadors of the Nigeria Customs Service as they concluded an intensive training on weapon handling.

Swomen, who also represented the Comptroller-General of Customs, Bashir Adewale Adeniyi, MFR, made this remark on Friday, 19 April 2024, during the passing out Ceremony of Officers of the Federal Operation Unit, Zone A, who were trained on weapon handling at the Customs Training College, Ikeja, Lagos.

Expressing appreciation for the dedication of all involved, Swomen emphasised the significance of the training in enriching the Nigeria Customs Service.

He said, “This is a wonderful milestone, not just for the Zone but the entire service. It is a message we would carry far and wide”.

With retirement on the horizon, Swomen expressed confidence in the Service’s future, stating, “My primary constituency, NCS, is moving to greater heights.” He urged the trained officers to positively influence their colleagues as a way of renewing their commitment to the Service.

Addressing pressmen on how the training would contribute to the general goal and mission of the Service, he said, “It is all-encompassing, ranging from how they deal with members of the public to carrying out operational affairs and others. They had classroom work, study tour to Seme checkpoints and went for shooting range too”.

Highlighting the comprehensive nature of the training, which addressed challenges faced by Customs Officers in the field, Outgoing Federal Operations Unit Comptroller Hussein Ejubunu remarked, “It behoves on the leadership to ensure that training and retraining of personnel is done as and when due. This crop of Officers were posted to the Zone and my Command and I felt the need for them to be retrained on weapon handling as this has become a challenge”.

“It is an indication that the Service will still go places and that we have competent trainers in the NCS that can train our men. I have no doubt in me with the present crop of Officers that are passing out today”. He acknowledged.

Commandant of Customs Training College, Ikeja, DC Haniel Hadison, expressed gratitude to the CGC for the opportunity to conduct the one-month training on weapon handling.

Hadison emphasised the effectiveness of the modules covered, noting, “In the course of this training, we did not experience any casualty.”

Hadison highlighted its significance in addressing operational challenges faced by Customs Officers, from engaging with the public to executing operational affairs effectively.

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Customs Corner

CGC Adeniyi Meets NFIU DG, Reiterates Commitment to Enhance Border Security

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Author: Muhammad Bashir.

The Comptroller-General of Customs (CGC), Bashir Adeniyi, had on Tuesday, 16 April 2024, received in audience the Nigerian Financial Intelligence Unit (NFIU) delegation, led by Director General Hafsat Bakari, at the Service’s Headquarters in Abuja.

CGC Adeniyi’s meeting with DG Bakari centred around sealing a strong partnership that will enable the two agencies to take measures of enhancing border security through intensifying onslaught against smugglers and money launderers and other terrorism financing activities.

The CGC, while addressing the NFIU officials, congratulated DG Bakari for her appointment to head the organisation. He expressed Nigeria Customs Service’s commitment to support NFIU by way of establishing a joint team that will be tasked to address some pressing issues.

“I want to wish you a successful tenure. I see, through your passion, your commitment to Project Nigeria, and I also see the collaborative spirit that you brought on board. These are all things that I share also because I believe that we can draw strength from each other, assist ourselves, and get things done.” the CGC said.

“We need to form an internal team that will be drawn up from our side to review those outstanding issues so that we begin to see, in a determined effort, what we can do,” he added.

Speaking earlier, the NFIU Director-General, Hafsat Bakari, applauded the NCS’s resilient commitment to safeguarding Nigerian borders, particularly in combating smuggling activities.

Emphasising the importance of information sharing, Mrs Bakari highlighted that her visit to the Headquarters of the Nigeria Customs Service is to establish a cordial relationship with the service in intelligence sharing.

She said, “We recognise the vital role of the NCS in protecting Nigeria’s borders, preventing the smuggling of illicit goods, but also in ensuring that those who import goods into our country pay the appropriate fees and levies that are due to the federal government.”

According to her, the ultimate goal of the NFIU was to ensure the safety and prosperity of Nigeria, adding that “we want to make sure that we have efficient systems processes and technologies in place to identify the smuggling of currency and other high-value items.

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