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The NNPCL has reached an agreement to sell petrol to the members of the Independent Petroleum Marketers Association of Nigeria for N995 per litre. This occurred after the Department of State Services intervened in the dispute between the two parties. Hammed Fashola, the National Vice President of IPMAN, stated that the involvement of the DSS has addressed numerous challenges encountered by marketers. “We really appreciate their intervention. They are doing their job. Anywhere they have seen that there may be a crisis, it is their duty to intervene. And their intervention brokered peace and understanding between the parties, and everybody agreed to work together. “For now, tentatively, I think they are offering us N995 per litre. “Our members sell at N1,200 or so and this depends on the location. I think with the N995, there will be a little reduction. Don’t forget that if you transport a product from Lagos to a far distance, you will pay for transportation and other charges. “We want to work on that because we want to have a common ground. When we sit down and look at the price analysis offered to us, and factor in all our expenses, we want to have a uniform price as much as possible. “So, I will not be able to tell you the exact price now, but we are working on it, especially in the Lagos axis and other zones. We will look at the transportation cost and all that. At the end of the day, we will fix the price for ourselves. “The price disparity has been a disadvantage between us and the NNPC Retail and major marketers. So, we are trying to look at how to close that gap so that we come back fully into the business. The lack of direct supply has been our problem, and now that we are solving that problem, I don’t think that disparity will be there again.”

Atiku urges the National Assembly to consider a six-year presidential term. Atiku Abubakar, a former Vice President, has written to the National Assembly. He is advocating for a constitutional amendment to establish a six-year single-term limit for both the President and state governors. In a memorandum addressed to the Senate Committee on Constitutional Review, Atiku suggested the implementation of a rotational presidency between the Northern and Southern regions Atiku called on the National Assembly to revise Section 135(2) to state: “amend Section 135(2) to read: ‘Subject to the provisions of subsection (1), the President shall vacate his office at the expiration of a period of six years.” Furthermore, he suggested replacing the term “substitution of an aspirant” in Section 285(14)(a) with “a voter.” The former Vice President proposed that the minimum educational requirement for candidates seeking election should be the Ordinary National Diploma, rather than the Senior Secondary School Certificate Examination. He suggested amending Section 65(2)(a) to state: “He has been educated up to at least Ordinary National Diploma in any recognised academic institution.” Additionally, he suggested adding a clause to Section 65(2)(a)(i) that would state: “Evidence of certificates of all educational qualifications of a candidate shall be submitted to the Independent National Electoral Commission or an affidavit by the candidate in the event of loss of his/her educational certificates, qualifications obtained, and dates, stating the schools attended.” Atiku emphasized the need for political parties to have greater authority in the selection of candidates. He suggested modifying Section 65(2)(b) to state: “He is a member of a political party whose name is in the register to be made available by his political party to the Independent National Electoral Commission 30 days before the conduct of the political party’s primary and he is sponsored by that party.”

Debt recovery Case Study #006: Failed Business Scam A client approached JMS Rogers to collect debt from a “failed business” that was run by him and his ex-business partner. Our client had entered into a business venture with a friend who dabbled in retail online sales. They had numerous internal business meetings and decided to invest the sum of SGD$50,000 each into the business for start-up costs, product acquisition, sales and marketing expenses and website development. Our client was told by the partner to make the transfer to a personal bank account held by the partner and once the company was set up, the funds will be transferred into the company bank account to a total sum of SGD$100,000 from both parties. The transfer was made and operations were to begin. Over the next few months, nothing transpired and when our client asked about the progress, the partner kept giving reasons as to why there was a delay. It ranged from website development delays, to not being able to source for good retail products. When our client asked about the SGD$50,000 he was continuously told that it was being used properly for business expenses and purchases to get the company moving. Eventually, after almost 8 months of no results, our client demanded to know where the money was, and wanted to exit the partnership. He asked the partner to show him the receipts for the costs incurred and the purchases made, and he would accept that as a business loss from the failed venture. Our client was also under the impression that there would be some money left from his SGD$50,000. To his dismay, the partner told him that there were no receipts as these were purchases and costs incurred from vendors that worked on cash term basis and no receipts were given. This immediately did not sound correct to our client and our client demanded to be shown proof or he wants his money back. The partner told him that it was not possible as there was no money left and this was a failed business venture. So both of them had to bear the losses. The partner even had proof in WhatsApp conversations that the money transferred by our client was for business expenses. Our client was devastated and had sleepless nights due to the loss, but always had the feeling that he was being cheated. It was then that he approached us. Through the course of our investigations and engagement with the partner as a debtor, we discovered that the partner had not used the money for business expenses, but rather for his personal expenses. There were no business expenses incurred at all. JMS Rogers then proceeded to demand payment for the fraudulent activity, and over the course of 3 months, the debt was cleared in full. What can we learn from this: Ensure all paperwork is done for accountability of funds for any business venture that you enter into. Always demand to have proper oversight and authority for the utilisation of funds in any business partnership. Read more : https://www.jmsrogers.com/

Nobody can put fire in Bauchi, We have volumes of water that will quench the fire - Bauchi State Governor Bala Mohammed replied Wike. During a meeting with members of the PDP’s national working committee (NWC) in Bauchi on Tuesday, Mohammed asserted that no one has the ability to incite unrest in Bauchi. He said, “We are together; nobody can put fire in Bauchi. “We have volumes of water that will quench the fire – even my friend (Wike) that said so, it is because he is annoyed. But it is not personal. “My friend is my friend, and my job is my job, leadership is leadership. “This unsolicited visit by the NWC shows that in Nigeria, we have hope,and we are connected by the value and the stability of PDP for peace and stability in our party and in our country. “Yes, none of the parties is isolated in terms of crisis here and there. Crises are there, that is why leadership is also there. That is why we have to take the bull by the horn to discuss and look at the constitution of our party PDP. “All the parties must do things by the rule of law. We must respect people, we must put our interest aside, we must respect our diversity, we must meet and close ranks especially when the issue has to do with our party, the PDP.  “Our party has pedigree and most of the development in this country was done by the PDP. “When PDP left, nothing was done.”

BREAKING:The NNPCL has confirmed that they buy petrol from the Dangote Refinery at a rate of N898 per litter, says “it will be grateful for any discount from the Dangote Refinery.” In statement released by Olufemi Soneye Chief Corporate Communications Officer. The statement reads: “NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery, Based on September 2024 Pricing “The NNPC Ltd has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country. “The NNPC Ltd also wishes to state that, in line with the provisions of the Petroleum Industry Act (PIA), PMS prices are not set by Government, but negotiated directly between parties on an arms length. “The NNPC Ltd can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024. “NNPC Ltd assures that if the quoted pricing is disputed, it will be grateful for any discount from the Dangote Refinery, which will be passed on 100% to the general public. “Attached to this statement are the estimated pump prices of PMS (obtained from the Dangote Refinery) across NNPC Retail Stations in the country, based on September 2024 pricing.”

Electoral Act: Appeal Court Takes Steps to Protect Governors with Disqualified Deputies. Yesterday, the Court of Appeal suggested an amendment to the Electoral Act aimed at allowing a governor whose deputy has been disqualified by a qualified court to be sworn in and subsequently choose a different running mate. On Thursday, February 13, 2020, the Supreme Court dismissed David Lyon of the All Progressives Congress (APC) from his position as the governor-elect of Bayelsa State, just a day before his scheduled inauguration. In November 2019, Lyon emerged victorious in the governorship election; however, a five-member panel of the Supreme Court, headed by Justice Mary Odili, annulled his election. This decision was made because his deputy, Biobarakuma Degi-Eremienyo, had provided inaccurate information to the Independent National Electoral Commission (INEC). During a three-day retreat in Abuja focused on amending the 1999 Constitution and the Electoral Act 2022, the appellate court emphasized the need to rectify the existing discrepancies. The amendments suggested by the President, Court of Appeal, Hon. Justice Monica Dongbam-Mensem, were introduced to the NASS panel by Justices Peter Olabisi Ige and Abba B. Mohammed. This event was attended by the leaders of registered political parties in Nigeria. The proposed Section 187 (1) (A), she said, should read that: “The removal of a deputy-governor or deputy-governorship candidate on account of qualification or disqualification by a Court or Tribunal, shall not affect the election of a governorship candidate or governor-elect. “Section 187 (1) (B) If a deputy governor or deputy-governorship candidate is removed by a Court or Tribunal, the governor or governorship candidate shall have the right to nominate another person as deputy-governor or deputy-governorship candidate.”

The APC aims to gain control of the southeastern states in order to address the issue of Igbo marginalization, according to the National Chairman of the APC, Ganduje. The National Chairman of the All Progressives Congress, Abdullahi Ganduje, remarked on Thursday that the perceived marginalization of the Igbo people might stem from the fact that the five states in the South-East are under the governance of different political parties instead of being united under a single party. He expressed that the ruling APC is committed to securing a majority of the South-East states, with Anambra as the initial target, currently under the governance of the All Progressive Grand Alliance. He “The North, South-East political zones are all claiming that they have been marginalised. The South-East geopolitical zone is saying the same thing. But what we are telling them is that the marginalization has been created by them. “How can you have five states ruled by four political parties? What will be your political bargain?” “Next year, there will be Anambra, which has been a state governed by APGA for many years, but we have introduced a new scheme. We want to start with Anambra. Already, we have Ebonyi and Imo. Now, we are encroaching into that zone to ensure that we capture most of the states. And if we get what we want, we capture all the states,”

The FCCPC has set a one-month deadline for traders to reduce the prices of goods throughout Nigeria. The Federal Competition and Consumer Protection Commission (FCCPC) has announced a one-month grace period for traders and market participants engaged in price exploitation, encouraging them to lower their prices on goods. Mr. Tunji Bello, the newly appointed Executive Vice Chairman of the FCCPC, shared this information during a one-day stakeholders’ engagement focused on exploitative pricing, which took place on Thursday in Abuja. Bello indicated that the Commission plans to initiate enforcement actions as soon as the moratorium period concludes. He said, ”Under Section 155, violators whether individuals or corporate entities face severe penalties including substantial fines and imprisonment if found guilty by the court.  ”This is intended to deter all parties involved in such illicit activities.  ”However, our approach today is not punitive. I, therefore, call on all stakeholders to embrace the spirit of patriotism and cooperation.  ”It is in this spirit that we are giving a moratorium of one month before the Commission will start firm enforcement,” “We have heard and you have genuine issues and the government has the responsibility to address the problems but generally, let us talk to ourselves too. ”There are also gang-ups to exploit consumers by traders,”

BREAKING: France, Germany, and the UK issued a joint statement calling on all parties to agree to a ceasefire in Gaza.