The Petroleum Products Pricing and Regulatory Agency (PPRA) has announced to its offices nationwide the September benchmark for the price of the premium motor spirit popularly known as petrol.
The information which is contained in an internal memo signed by the Depot manager, D.O Abalaka takes effect today September 2, 2020
The new price according to the memo will sell for N151.56 kobo and this has been effected in all depot nationwide.
It will be recalled that the federal government had announced a full deregulation of the downstream sector in July.
Issue an executive order to decongest the ports, Reps tell Buhari
The technical committee on customs and excise at the House of Representatives has asked President Muhammadu Buhari to issue an executive order to decongest the nation’s ports.
The committee made the recommendation to the federal government during a four-day oversight visit to the customs formations in Lagos which ended on Friday.
The order, the committee said, should direct the use of part of the revenue generated by the Nigeria Customs Service to carry out repairs on the access roads leading to the ports.
According to the committee, the nation is losing five times the amount of money that would have been generated from the ports due to bad roads and port congestion.
The committee also wants the President to immediately disband the Presidential Task Force on the decongestion of traffic at the Apapa Port.
The task force, the committee believes, has outlived its usefulness since it was inaugurated about two years ago.
BREAKING: Supreme Court Rejects Shell’s Request To Vacate ₦17bn Judgement on Oil Spill
The Supreme Court has dismissed an application filed by Shell Petroleum Development Company of Nigeria Limited seeking to set aside a January 11, 2019 judgement of the court upholding damages to the tune of N17bilion awarded against the oil company.
The apex court had on January 11, 2019 upheld an earlier judgment by the Court of Appeal, affirming a June 14, 2010 judgement of the Federal High Court which awarded the damages against Shell over an oil spill at Ejam-Ebulu in Tai Eleme Local Government Area of River State in 1970.
Dismissing the application on Friday, Justice Samuel Osuji who read the lead ruling of the Supreme Court’s panel prepared by Justice Centus Nweze, held that the application by Shell, asking it to revisit its earlier judgment, was unmeritorious.
Although the lawyer to Shell declined speaking to Journalists, lawyer to Ejam-Ebulu community, Mr Lucius Nwosu while applauding the verdict of the court said the judgment sum, with interest, now stands in the region of N160billion.
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