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Lara Banjoko Advocates Phased deregulation of the petroleum products sector  to ameliorate the suffering Nigerians

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Lara Banjoko Advocates Phased deregulation of the petroleum products sector  to ameliorate the suffering Nigerians

Lara Banjoko Advocates Phased deregulation of the petroleum products sector  to ameliorate the suffering Nigerians

Lara Banjoko, CEO, of Zone 4 Energy Limited and arguably the leading female force who holds the magic wand to turn the fortunes of any moribund petroleum sector company around has lent her voice to the total deregulation of petroleum products in Nigeria as a massive step for petroleum products availability and massive investment/increased employment in the Country.
Lara Banjoko Advocates Phased deregulation of the petroleum products sector  to ameliorate the suffering Nigerians

Lara Banjoko

Banjoko who is a force to be reckoned with in the oil and gas sector opined that deregulation of the petroleum products in phases is the way forward to ameliorate the suffering of Nigerians masses and enable the country implement cushions that will ameliorate the expected changes such a policy will bring to citizens…. She believes such deregulation must be carried out not in a knee jerk approach but with careful and thoughtful planning over a defined period to enable our citizens be able to accept and live with such policy direction.
Banjoko, who also agreed with Asiwaju Ahmed Tinubu on deregulation made the recommendation today in Lagos while reacting to the recurrent scarcity of PMS, also known as petrol in the country.
According to Banjoko,  currently, petrol (which is the primary mover of people across the different strata of Nigeria) is being subsidized under the recovery process in two different and distinct phases…
1. On the costs of purchase
2. On the foreign exchange component of the importation and supply. The product herein is being delivered using the CBN exchange and not the parallel market for such importation….
As such, the advocacy and advice will be a consideration and push towards a phased-out deregulation of the sector…
“The first step is suggested to be on the purchase pricing option. Wherein the foreign component is retained while the product is imported and sold on the prevailing international pricing benchmark”
Furthermore, she states that the second phase will be to remove the foreign exchange component and allow importation and delivery to be at the parallel market (though the belief is that the incoming government must phase out the current regime of multiple exchange rates.
It would be recalled that the deregulation of economic activities which gathered momentum in this country in 1986 under the general programme of Structural Adjustment has been a matter of intense debate among economists, bankers, and members of the public at large.
The monopolistic tendency of NNPC to provide all the petroleum products created some features which have made justification for the deregulation of the sector. The features include a low level of competition, smuggling of petroleum products, monopolistic and sharp practices, the existence of petroleum subsidies, poor maintenance of infrastructural facilities, distortions in product supply and distribution, inappropriate pricing of products supply, and high level of fraud and corruption. According to the PPPRA, Reginald (2009) and Igbikiowubo (2011), the Federal Government of Nigeria wants to deregulate the downstream sector of Nigeria’s oil industry in order to:
• Ensure that petroleum products are made available to consumers in an uninterrupted manner.
• Eradicate waste and corruption which are consequences of a tightly regulated economy. • Ensure that the supply and distribution of petroleum products are orderly and consumer friendly.
 • Channel money realized from the exercise to development projects that will be beneficial to the majority of the people.
 Notwithstanding the above, the office of the Chief Economic Adviser of the president in collaboration with the NNPC and the budget office of the Federation asserted that the rationale behind the Federal Government’s plan to deregulate the downstream petroleum sector includes:
 • To improve the efficient use of scarce economic resources by subjecting decisions in the sector to the operations of the forces of demand and supply.
 • Deregulation will further reduce economic waste and lightens social burdens caused by government control.
 • To expand opportunities for economic growth, a competitive sector and help achieve greater cost-effectiveness. Furthermore, Allison Madueke (2011) harped on the imperatives for the deregulation of the downstream sector including:
• Saving of cost in petroleum subsidies.
• Job creation opportunities.
• Downtime record in the existing refineries.
• Investment opportunities or foreign direct investment in the sector.
Lara Banjoko is the CEO of Zone4 Energy Limited. An epitome of beauty and brain, she is a successful business-woman who has worked so hard to make a name for herself.

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Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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Davido Finally Reacts To Conferment Of National Award

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4 hours ago

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May 31, 2023

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Davido Finally Reacts To Conferment Of National Award

Davido Finally Reacts To Conferment Of National Award

 

 

 

 

DAVIDO– Multi-talented and award winning singer, Davido, has responded to his being conferred with an OON ( Officer of the Order of Nigeria) by the Buhari led Government.

 

 

 

 

The billionaire singer, expressed joy and gratitude for such an honour:

 

Davido Finally Reacts To Conferment Of National Award

 

I am Honoured to hear the news that I have been conferred with an OON (Officer of the Order of Nigeria) by The Federal Government of Nigeria.

 

 

 

 

I am grateful for this recognition and honour. It has always been my mission to use my platform to showcase our country – the passion, the resilience, the joy, the culture and of course the struggles of our people. I do not take any of this for granted. We have one Nigeria and we will continue to do whatever we must to make it better!

 

 

 

Thank you all for being on this journey with me. So help us God.

001 – OON

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For Stating The Fact, School Principal Suspended Over Kebbi Deputy Governor’s Alleged Forged Certificates Issue 

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1 day ago

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May 30, 2023

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For Stating The Fact, School Principal Suspended Over Kebbi Deputy Governor’s Alleged Forged Certificates Issue 

For Stating The Fact, School Principal Suspended Over Kebbi Deputy Governor’s Alleged Forged Certificates Issue 

 

The Principal, Sultan Abubakar College, Sokoto, Sokoto State, Zayyanu Muhammad Umar, has been suspended and replaced by AbdulRahman Jaafaru, who is an  Acting Director, Basic in the Sokoto State Ministry of Basic and Secondary Education.

For Stating The Fact, School Principal Suspended Over Kebbi Deputy Governor’s Alleged Forged Certificates Issue 

 

The offence of Zayyanu Muhammad Umar is because he stayed on the path of truth in the  refusal to attest to the alleged  forgery of certificates by the deputy governor of Kebbi State,Senator Umar Abubakar.

 

 

 

 

 

As of last week, Zayyanu Muhammad Umar was placed under tremendous pressure by the Permanent Secretary to produce attestation for the Deputy Governor Umar Abubakar.

 

 

 

 

 

 

 

But Zayyanu Muhammad Umar’s faithfulness to the oath of service overwhelmed him and he stayed on the path of truth.

 

 

 

 

 

According to the story, Kebbi State Deputy Governor, Senator Umar Abubakar, had writing  a letter to the Permanent Secretary, Ministry of Basic Education and Secondary Education in Sokoto, Mr Lawal Saddiq Sanusi, applying for the certified true copy of his testimonial.’

 

 

 

 

 

In the letter, he alleged that he was a student of Sultan Abubakar College between 1974 and 1979 with the admission number 958. He requested for the certified true copy of the testimonial and secondly, for a letter of attachment and confirmation that the testimonial bearing Umaru Abubakar belongs to him.

 

However and despite an alleged threats and financial inducements,  the Principal of the school, Zayyanu Muhammad Umar, refused to play ball saying he has no such official record with the school.

In the process, the   principal of the school was put under intense fire by the Permanent Secretary to produce attestation for the Deputy Governor.

 

In a response titled: Re-Application for Certified True Copy of Testimonial and a Letter of Attestation for Umaru Abubakar, Zayyanu Muhammad Umar wrote:

“The name Umaru Abubakar is not on the list of students who graduated and were issued testimonials in 1979.

 

Neither the Examinations Records nor any of the school records  listed the name of  Umaru Abubakar as having sat for Teachers Grade ll examinations in 1982, or to be among students who were issued testimonials in 1982 as indicated in the testimonial attached by Senator Umaru Abubakar Argungu.

 

The attached copy of the testimonial of Umaru Abubakar does not carry the  name of the issuing officer, which is not the tradition of the school,” the  response to the request stated.

 

However, credible information reveals that the Kebbi State Deputy Governor was allegedly dismissed from the Sultan Abubakar College Sokoto which was then a Teachers Training College during a mock examination alongside 15 others.

 

To punish Zayyanu Muhammad Umar, an unsigned  query, dated May 30, 2023, issued  to the Principal by Abdulsamad Hamzat Isa, Acting Director, Administration,  on behalf of Sokoto State  Honourable Commissioner of Ministry of Basic and Secondary Education.

 

In the  unsigned query,  seen  by this medium on Tuesday,  Zayyanu Muhammad Umar was falsely  accused of unsatisfactory performance on his job and in his capacity as a school Principal.

 

For want of any genuine offence, Zayyanu Muhammad Umar was accused of “Unilaterally disclosing official information without authorization. These unruly and immoral behaviors of yours constitute an act of misconduct punishable under PSR NO 030402,” the letter stated without disclosing the “Official information” Zayyanu Muhammad Umar let out to the public.

 

The letter stated further  that Zayyanu Muhammad Umar “Unilaterally, without the consent of the Ministry, travelled to Abuja and by doing so, you have absented yourself from duty without leave.”

Consequently, Zayyanu Muhammad Umar has been asked to “Appear before a committee to investigate the matter on Wednesday, May 31 by 12:00pm at the Ministry Headquarters.

 

The letter added that  “ A sole Administrator  in person of  AbdulRahman Jaafaru, Acting Director, Basic,  has been appointed to oversee the activities of the school pending the outcome of the investigation,” the suspended letter stated.

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How Pro. Kingsley Predicted Raymond Dokpesi’s Death

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1 day ago

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May 30, 2023

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How Pro. Kingsley Predicted Raymond Dokpesi’s Death

DOKPEAI– Again, Prophet Kingsley Aitafo is in the news again. This is not unconnected to the fact that one of his prophetic warnings have come to pass.
Few days ago, Prophet Kingsley issued a proohetic warning about the demise of a prominent Nigeria.
How Pro. Kingsley Predicted Raymond Dokpesi's Death

And true to his words, just seven days after, Raymond Dokpesi, a chieftain of the Peoples Democratic Party (PDP) and founder, DAAR Communications plc, has died at the age of 71.

A family member confirmed this to THE WHISTLER on Monday, saying the media mogul died at a hospital in Abuja.

According to the family source who doesn’t want to be mentioned, Dokpesi had suffered a stroke shortly after the recent Ramadan fast and had been managing his health since.

The family source told THE WHISTLER that Dokpesi was eventually placed on occupational therapy to improve his daily activities through walking out at the gym.

The source said during one of his routine gym exercises, Dokpesi was electrocuted while using one of the gym equipment, leading to stroke and his eventual death.

The DDokpesi family is expected to issue a statement on the development soon

In 2020, Raymond Dokpesi and members of his family were hospitalized at the University of Abuja Teaching Hospital after they were diagnosed with COVID-19. They, however, survived the disease.

Dokpesi founded the African Independent Television (AIT) and Raypower FM and was the deputy Director-General of technical and systems of Atiku Abubakar’s Presidential Campaign Council. Pro.Kingsley Accurately Predicted Dokpesi’s Death ..
Again, Prophet Kingsley Aitafo is in the news again. This is not unconnected to the fact that another of his prophecies came to pass withing 7 days.
Few days ago, he gave a prophetic warning that a prominent figure will pass away..
And as a confirmation, Raymond Dokpesi, a chieftain of the Peoples Democratic Party (PDP) and founder, DAAR Communications plc, has died at the age of 71.
 
 


A family member confirmed this  on Monday, saying the media mogul died at a hospital in Abuja.

According to the family source who doesn’t want to be mentioned, Dokpesi had suffered a stroke shortly after the recent Ramadan fast and had been managing his health since.

The family source said  that Dokpesi was eventually placed on occupational therapy to improve his daily activities through walking out at the gym.

The source said during one of his routine gym exercises, Dokpesi was electrocuted while using one of the gym equipment, leading to stroke and his eventual death.

The DDokpesi family is expected to issue a statement on the development soon

In 2020, Raymond Dokpesi and members of his family were hospitalized at the University of Abuja Teaching Hospital after they were diagnosed with COVID-19. They, however, survived the disease.

Dokpesi founded the African Independent Television (AIT) and Raypower FM and was the deputy Director-General of technical and systems of Atiku Abubakar’s Presidential Campaign Council.

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