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Diesel price hits N650 per litre leaves business crumbling

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The retail price of automotive gas oil, also known as diesel, has spiked to N650 a litre in some fuel stations, leading to more woes for businesses that depend on the commodity to run their operations.

Earlier in the month, the ex-depot price of the product had crossed N500/litre, causing fuel stations to adjust their pump prices to current realities.

About a week ago, It had been reported that the price of automotive gas oil, also known as diesel, hit N625 per litre in some fuel stations.

Price of diesel in some fuel stations at Victoria Island and Festac Town remain unchanged at above N600 a litre.

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At the Nigerian National Petroleum Company (NNPC) fuel station located in Second Rainbow, along Oshodi/Apapa road, diesel is priced at N650 on Friday.

The price is the same at Remdabson and Mobil fuel stations in Ikorodu.

With rising global oil prices skyrocketing, imported petroleum products, including diesel, kerosene and aviation fuel, have hit the roof in Nigeria.

Former senate president, Bukola Saraki, had said there is no justification for the rise in diesel and aviation fuel prices in the country as the products must have been “shipped two months ago”.

The price surge is coming amid the recent power outages experienced in the country.

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On Monday, the national electricity grid had suffered a system collapse leading to power outages across the country — suffering the same fate on Tuesday.

The new development has further exacerbated spending for sectors that rely on diesel generators and on-grid electricity.

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The Manufacturers Association of Nigeria (MAN) and telecoms union had decried the impact on businesses.

On Thursday, Tony Elumelu, chairman of the United Bank for Africa (UBA) Plc, also lamented the worsening living conditions in the country — listing erratic electricity supply, hikes in the price of diesel, frightening food inflation as issues bedevilling the country.

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Crime

Lagos Police Arrest Suspects With Vandalised Rail Tracks

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A patrol team from Ijora Badia Police division has arrested two suspects conveying vandalised rail tracks in Lagos State.

The Lagos State Police Public Relations Officer, SP Benjamin Hundeyin, disclosed this via his Twitter handle on Monday.

He said, “At about 1am today, a patrol team from Ijora Badia Division intercepted a Mitsubishi Lancer car conveying vandalised railway tracks. The two occupants of the vehicle have been arrested. Investigation is ongoing.”

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Oshoffa ratifies Ajala’s appointment

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The Celestial Church of Christ has ratified the appointment of its media head, Superior Evangelist Kayode Ajala.

In a letter dated Thursday, 26th January, 2023, with reference number CCC/EMF/PD/AP-003/01-23, the pastor and spiritual leader of the church, His Eminence, Reverend Emmanuel Mobiyina Oshoffa, has authenticated his appointment as Head of Media and Publicity, Celestial Church of Christ Worldwide.

The spiritual head stated that after due consideration and taking into cognizance his wealth of experience in journalism, coupled with his invaluable contributions to the growth and progress of the church, the ratification was just in order.

With this appointment, SE Ajala will oversee the operations of the Media and Publicity Unit of the Celestial Church of Christ Worldwide. He will also be responsible in creating and maintaining a positive public image and perception for the Celestial Church of Christ Worldwide.

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In addition, the media head will submit regular progress reports to the church’s spiritual head and carry out any other duties as assigned by same.

SE Ajala graduated with honours from the Ogun State University (Now Olabisi Onabanjo University, Ago-Iwoye) in 1986 bagging a Bachelor of Arts degree in English and Literature. Upon completion of his compulsory one year youth service programme at the University of Ife (Now Obafemi Awolowo University, Ile Ife, Osun State), he began his sojourn into journalism as a contributor to the defunct National Concord Newspaper in 1987.

In 1989, he joined the newly established HINTS magazine as an Editorial Executive. By dint of hardwork and total commitment to duty, he rose through the ranks meteorically, earning three promotions in one year, to become the Editor of the magazine at the age of 23, making him the youngest Editor of a national publication in Nigeria at that time. A feat that was widely acknowledged and celebrated.

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A holder of a Post Graduate Diploma in journalism, Superior Evangelist Kayode Ajala has, at different times in his career, anchored columns for Ovation International Magazine, the Sunday Punch Newspaper, the Sun Newspaper , the Independent Newspaper, the Nigerian Tribune and the Compass Newspaper, amongst others. His contemporaries in journalism include Chief Dele Momodu, Prophet (Dr) Kunle Hamilton, Dr Reuben Abati, Dr Seye Kehinde, Mayor Akinpelu, Ekerete Udoh, Kunle Bakare, Femi Akintunde Johnson, Funke Egbemode, Medline Tador, Moji Danisa, to mention a few.

The appointment, which takes effect from Wednesday, February 1, 2023, is for a duration of two years.

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Court orders Dangote to pay unlawfully dismissed employee N1.4mln within 30 days

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The Lagos division of the National Industrial Court Of Nigeria (NICN) has awarded damages against two of Alhaji Aliko Dangote’s companies – Dangote Oil Refining Company Limited and Dangote Projects Limited – for the dismissal of one Peter Terngu Ahemen.

Nigerian businessman, Dangote is Africa’s richest man and the founder, chairman, and CEO of the Dangote Group, the largest industrial conglomerate in West Africa.

Consequently, Justice Justice (Dr.) Elizabeth A Oji, who presided over the court ordered Dangote Oil Refining Company Limited and Dangote Projects Limited, which are both defendants in the suit, to pay the sum of N1.4 million to the dismissed staff member, Ahemen, as damages and in lieu of notice.

The plaintiff, Peter, had approached the court through his lawyer, Gibson Elumelu, in a suit numbered NICN/LA/510/2019, wherein he sought the following reliefs; “a declaration that the first defendant is bound by the terms and conditions of the claimant’s letter of employment and training bond.

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“A declaration that the termination of his employment by the second defendant vide a letter dated May 20, 2019, contravenes the terms and conditions of his letter of employment dated February 4, 2016, as well as the rules of natural justice and is therefore null and void and of no effect whatsoever.

“A declaration that the termination of the employment of the claimant by the second defendant vide a letter dated May 20, 2019 amounts to a brazen breach of contract between parties to this suit.

“A declaration that the termination of the employment of the claimant by the 2nd defendant vide a letter dated May 20, 2019, is wrongful in law.

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“An order that the defendants jointly and severally shall pay to him the sum of N187, 583.78, being the net sum of his unpaid monthly remuneration from the month of February 2019 to the date of judgment.

“An interest on the said amount of N187, 583.78, only from February 28, 2019, at the rate of 22 percent per annum till judgment and thereafter at the rate of 22 percent till final liquidation of the debt.

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“An order that the defendants jointly and severally, shall pay the sum of N300 million only, to him as damages for brazen breach of contract and as general damages for the psychological trauma, torture, pain, agony, stress and frustration they forced him to pass through. And an order for payment of the sum of N2 million as the cost of instituting the action.

But the two Dangote companies, Dangote Oil Refining Company Limited and Dangote Projects Limited through their lawyers, E. A. Okorie and Chris C. Ottih, filed a joint Statement of Defence, together with defendants’ witness statement on oath deposed to by Mr Douglas Adiele.”

The defendants equally filed a counter-claim wherein they asked the following: “a declaration that the claimant/first defendant to counterclaim is in breach of his agreement, obligations, covenant, undertaking and bond to the first defendant as contained in the Training Bond dated February 29, 2016.

“An order for the payment of the sum of N15, 714 million to the first defendant being Training/course fee, Visa processing fee, FRRO cost, Air ticket/travel expenses, accommodation cost, transportation cost, feeding including a consolidated training stipend of $300 per month and other ancillary cost of logistics incurred by the first defendant in the claimant’s foreign training.

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“An order for the payment of the sum of N7 million, being and representing general and exemplary damages for the claimant’s breach of its agreement and undertaking with the first defendant and being the legal fees paid by the first defendant to defend the suit.

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“Payment of interest on the above sum to the first defendant/counterclaimant at the rate of 21 percent per annum from the 24th day of January 2019 till judgment is delivered hereof and thereafter at 15 percent until total liquidation.

The presiding judge, Justice (Dr.) Oji, in her judgment, held that: “for avoidance of doubt, the counterclaim fails in its entirety. The Claimant’s suit succeeds in part.

“The defendants are ordered to pay to the Claimant, the sum of N180, 000.00, being the Claimant’s unpaid monthly remuneration from the month of February 2019 to May 2019, and June 2019 as salary in lieu of notice. Total to be paid is N900,000.00 (Nine Hundred Thousand Naira) only.

“The cost of this suit is set at N500, 000.00, only to be paid to the Claimant by Defendants.

“All adjudged sum to be paid not later than 30 days from the date of this judgment failing which interest will accrue at the rate of 20 percent per annum.”

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