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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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Mr Ibu”s Death, Prophet Kingsley’s Prophetic Warning Fulfilled Again 

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Mr Ibu"s Death, Prophet Kingsley's Prophetic Warning Fulfilled Again 

Mr Ibu”s Death, Prophet Kingsley’s Prophetic Warning Fulfilled Again 

Of a truth, when God speaks, the wise listens. Again in less than 24 hours, another prophetic warning of Prophet Kingsley Aitafo concerning the movie industry has come to pass.
Mr Ibu"s Death, Prophet Kingsley's Prophetic Warning Fulfilled Again 
Among his 2024 prophetic release he stated that, Yoruba actors and actresses should be helped with prayers against strange sickness that many of them are already managing secretly so it won’t get out of hand in that year and the arrow of death be prayed against amongst the English actors and actresses.

And sadly, the movie industry has been thrown into mourning again as Mr Ibu, Nollywood veteran actor has died. The actor whose real name is John Okafor was 62.

According to multiple reports from sources close to him, the veteran comedian passed away at Evercare hospital.

Many fans have shared condolences on X, reminiscing movies the late actor has featured.

It would be recalled that popular Nollywood actor, Tolani Quadri Oyebamiji, who is more popularly known as Sisi Quadri, is also dead.

He passed on yesterday at the age of 44.

His death was revealed by some of his colleagues in the Yoruba movie industry.

Writing on her verified Instagram handle, actress Abiola Bayo said: “You will be greatly missed, Sisi Quadri. May your soul rest in perfect peace”.

Sis Quadri was renowned for his exceptional comedic talent and his ability to deliver cutting insults with finesse.

This trait endeared him to many movie watchers around the country

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How prophet Kingsley Aitafo Accurately Prophesied Sisi Quadri death

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How prophet Kingsley Aitafo Accurately Prophesied Sisi Quadri’s death

 

 

 

Interestingly, another prophetic warnings of Prophet Kingsley Aitafo has come to pass. During his prophetic release for 2024 he predicted that some Yoruba actors who have been managing sickness may lews to death.

 

How prophet Kingsley Aitafo Accurately Prophesied Sisi Quadri death

 

 

“Yoruba actors and actresses should be helped with prayers against strange sickness that many of them are already managing secretly so it won’t get out of hand in that year and the arrow of death be prayed against amongst the English actors and actresses”

Sadly, popular Nollywood actor, Tolani Quadri Oyebamiji, who is more popularly known as Sisi Quadri, has died.

He has passed on at the age of 44.

His death was revealed by some of his colleagues in the Yoruba movie industry.

 

Writing on her verified Instagram handle, actress Abiola Bayo said: “You will be greatly missed, Sisi Quadri. May your soul rest in perfect peace”.
Sis Quadri was renowned for his exceptional comedic talent and his ability to deliver cutting insults with finesse.

This trait endeared him to many movie watchers around the country

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Jimi Benson: X-raying An Ikorodu Boy In Parliament By Bolaji Akinmosu

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Jimi Benson: X-raying An Ikorodu Boy In Parliament

By Bolaji Akinmosu

 

 

 

From the streets of Ikorodu, where dreams often collide with adversity, a young man has risen, defying the odds and carving his name into the annals of Nigerian politics. Babajimi Adegoke Benson, a native son of this vibrant Lagos suburb, has not only broken barriers but shattered them, proving that resilience and determination can propel an ordinary boy to extraordinary heights and not just that, but being able to achieve goals in that position.

 

 

Jimi Benson: X-raying An Ikorodu Boy In Parliament By Bolaji Akinmosu

Babajimi Adegoke Benson, born on March 30, 1972, hails from Ikorodu, Lagos State. His journey is labeled by a blend of legal expertise, corporate leadership, and public service.

Jimi Benson pursued his legal education at LASU, obtaining an LLB in 1994.
He continued his legal studies at the Nigerian Law School, earning a Bachelor of Law (Honors) in 1995.
In 1999, he added to his qualifications with an LLM in Comparative International Business Law.
Jimi Benson furthered his education by pursuing an MBA in Warwick Business School (UK)

After completing his National Youth Service Corps (NYSC) program in 1989, he embarked on a career that took him to international platforms.
He served as a Legal Officer at the United Nations Headquarters in New York.
In Nigeria, he worked as an in-house Legal Counsel at Ecobank PLC and later as Deputy Manager (Legal) at Lead Bank PLC.

Jimi Benson entered electoral politics in 2015 under the banner of the All Progressives Congress (APC).
In the Nigerian House of Representatives, he has held various roles:
Chairman of the House Committee on Banking and Finance, Chairman of the Sub-Committee on Habitat, Deputy Chairman of the Committee on Delegated Legislation, Member of Committees on Works, Justice, Housing, Environment, Treaties, and Protocol. Currently, he serves as the Chairman of the House Committee on Defence.

Jimi Benson is an honorable member of the House of Representatives of Nigeria representing the Ikorodu Federal Constituency in Lagos State. Benson was first elected into the Nigerian House of Representatives in 2015 to represent the Ikorodu Federal Constituency in Lagos State. He was re-elected for a second term in 2019 and has since been re-elected for a third term during the 2023 Nigerian general election in Nigeria. Now, the current Chairman of House Committee on Defence. As Chairman of the House Committee on Defence, he shoulders the responsibility of safeguarding Nigeria’s territorial integrity.

His terms has brought about positive changes and improvement in his constituency.

Jimi Benson’s story is one of diligence and steadfast commitment. Born and raised in the heart of Ikorodu, he witnessed firsthand the struggles faced by his community—lack of infrastructure, unemployment, and limited access to quality education. Yet, rather than succumbing to despair, Jimi channelled his energy into effecting change.

Representing the Ikorodu Federal Constituency, he has become a voice for the people, advocating for their rights, welfare, and development.
As a young leader, Jimi Benson recognizes the power of youth. He has championed initiatives aimed at empowering young Nigerians through education, skills training, and job creation. His commitment to youth development is a beacon of hope for the next generation.
Jimi Benson has worked tirelessly to improve infrastructure in Ikorodu. From road rehabilitation to healthcare facilities, he has prioritized community needs. His efforts have transformed neighborhoods, enhancing the quality of life for residents.
Within the hallowed chambers of parliament, Jimi Benson has left an indelible mark. His contributions to debates, bills, and policy discussions reflect his dedication to effective governance. Whether advocating for education reform or economic empowerment, he remains steadfast.
His journey from Ikorodu to parliament underscores his commitment to marginalized communities. He amplifies their voices, ensuring that their concerns are heard at the highest levels of government. His empathy and accessibility set him apart.
Jimi Benson’s story resonates with young Nigerians who aspire to make a difference. His rise from humble beginnings inspires hope and reinforces the belief that anyone, regardless of background, can contribute to nation-building.

With all these, it is no doubt that he fits into the moniker of Mr. Constituency projects as he has properly executed projects in the Ikorodu Constituency.
Among these projects is the iCare food bank initiative which was launched to provide relief to vulnerable groups, including the elderly and widows, by distributing food items and necessities. Also, recognizing the need for communication, he established a community radio station, IKD FM. This platform serves as a voice for the local community, disseminating information, promoting cultural events, and fostering unity. He also contributed to improving access to healthcare in his constituency by donating an 80-bed Mother and Child Hospital.
These initiatives have impacted the lives of his constituents and have contributed to the development of the community.

Hon. Babajimi Adegoke Benson’s multifaceted career, spanning legal practice, public administration, and private sector expertise, reflects his dedication to serving both his constituency and the nation at large.
His legacy is one of authentic service as he is indeed a representative of the people and such a rare parliamentarian.

Akinmosu wrote this piece from Ikorodu, Lagos State.

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