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‘It’s not yet time’ — FG debunks hiking petrol price

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The federal government has denied increasing the price of premium motor spirit, also called petrol.

Timipre Sylva, minister of state for petroleum resources, said this on Friday in a statement issued by Horatius Egua, his senior adviser on media and communications.

Yesterday, several media reports claimed that the federal government quietly approved N185 as the new petrol pump price per litre.

But Sylva said the President Muhammadu Buhari has not approved any price increase for petrol, as he is sensitive to the plight of the citizens.

“President Muhammadu Buhari has not approved any increase in the price of PMS or any other petroleum product for that matter,” he said.

“There is no reason for President Muhammadu Buhari to renege on his earlier promise not to approve any increase in the price of PMS at this time.

“Mr. President is sensitive to the plight of the ordinary Nigerian and has said repeatedly that he understands the challenges of the ordinary Nigerian and would not want to cause untold hardship for the electorate.

“Government will not approve any increase of PMS secretly without due consultations with the relevant stakeholders. The President has not directed the Nigerian Midstream and Downstream Petroleum Regulatory Authority or any agency for that matter to increase the price of fuel.

“This is not the time for any increase in pump price of PMS.”

Sylva said what was playing out was the “handiwork of mischief makers and those planning to discredit the achievements of the president” in the oil and gas sector.

“I appeal to Nigerians to remain calm and law-abiding as the government is working hard to bring normalcy to fuel supply and distribution in the country,” he said.

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NCAA suspends three private jet operators for engaging in commercial flights

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The Nigerian Civil Aviation Authority (NCAA) says it has suspended the permit of three private jet operators for engaging in commercial flights.

Chris Najomo, acting director general of the NCAA, announced the suspension of the three private operators in a statement read to all airlines on Tuesday.

This is coming a day after Festus Keyamo, minister of aviation and aerospace, said the federal government would arrest and sanction illegal flights and non-certified personnel.

Najomo said the use of private jets for commercial purposes got Keyamo’s attention in November 2023, prompting the minister to issue directives for the cessation of such activities.

“Subsequently, in March 2024, the NCAA had issued a stern warning to holders of the permit for noncommercial flight (PNCF) against engaging the carriage of passengers, cargo or meal for hire reward,” Najomo said.

“The authority had also deployed its official to monitor activities of private jet terminals across airports in Nigeria. As a consequence of this heightened surveillance, no fewer than three private operators have been found to be in violation of the annexure provision of the PNCF and part 9114 of the NCAA regulations.

“In line with our zero tolerance for violation of regulations, the authority has suspended the PNCF of these operators.

“To further sanitise the general aviation sector, I have directed that a reevaluation of all orders of PNCF be carried out on or before the 19th of April 2024 to ascertain compliance with regulatory requirements.”

Najomo also said all PNCF holders will be required to submit relevant documents to the authority within the next 72 hours.

“This riot act is also directed at existing air operators certificate (AOC) holders who utilise aircraft listed on the PNCF for commercial chatter operations,” Najomo said.

“It must be emphasised that only aircraft listed in the operation specifications of the AOC are authorised to be used in the provision of such charter services.

“Any of those AOC holders who wish to use the aircraft for charter operations must apply to the NCAA to delist it from their PNCF and include it into the AOC operations specifications.”

The NCAA also urged travellers not to patronise any airline or charter operator who does not hold a valid AOC issued by the NCAA when they wish to procure chartered operation services.

Najomo also encouraged legitimate players in the aviation industry to report the activities of such “unscrupulous” elements to the authorities promptly for necessary action.

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X will start charging new users to post, says Elon Musk

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Elon Musk, the owner of X, formerly known as Twitter, has confirmed plans to charge new users to post on the platform.

Replying to a post about the X policy on new accounts on Monday, he said it is the only solution to curb the issue of bots on the platform.

According to Musk, the proliferation of fake accounts occupies the available space for usernames, leading to the unavailability of many good handles.

“Unfortunately, a small fee for new user write access is the only way to curb the relentless onslaught of bots,” Musk said.

“Current AI (and troll farms) can pass “are you a bot” with ease.

“The onslaught of fake accounts also uses up the available namespace, so many good handles are taken as a result.”

Replying to another X account on the new policy, Musk said new users will be able to post for free after three months.

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Naira appreciates to N1,100/$ in parallel market

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The naira rose further on Monday in the parallel section of the foreign exchange (FX) market.

At the Lagos street market, currency traders, also known as bureau de change (BDC) operators, quoted the naira at N1,100 to the greenback.

The traders put the buying price of the dollar at N1,070 and the selling price at N1,100 — leaving a profit margin of N30.

The figure represents an appreciation of N50 or 4.34 percent from the N1,150/$ it traded on April 12.

At the FMDQ Exchange, a platform that oversees official foreign exchange (FX) trading in Nigeria, the local currency rose by 5.72 percent or N69.02 to N1,136.04/$ on Monday — from N1,205.06/$ on April 12.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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