News
Why we hiked price ahead of subsidy deadline – NNPC boss
For Nigerians wondering why the Nigerian National Petroleum Company Limited (NNPCL), jerked up the price of Premium Motor Spirit (PMS), otherwise known as petrol, the answer came on Thursday from Mele Kyari, the company’s Group Managing Director and Chief Executive Officer (GMD-CEO).
Kyari, a guest of The Morning Show, a breakfast programme on Arise Television, told his hosts that the move was to reflect the current cost in the international market, which determined the price back home in order to replenish supplies in future.
Hear him: “This is the reality of the market. It applies to every commodity and not just petroleum. It could have been the other way round, prices could have collapsed downwards and those holding the old stock will have to sell at lower prices to arrive at market condition.
“It is not something serious or strange, this is a stock management issue and it is very typical, no one can do anything different about this. The prices we are seeing today at our station are the current price of the commodity. This means that prices in the market can go down at any time and of course, the market will adjust itself.”
Kyari, also tried to soften the anger of Nigerians over the development, saying the current hike in commodity prices, would only be for a while as things would begin to take shape in future, adding that competition among major players in the oil sector, following the full deregulation, would force down the price of petrol.
Explaining that the removal of subsidy would allow new entrants into the market, a move he said, would aid competition and phased out monopoly, he said, he claimed, would ensure healthy competition which would ultimately lead to a downward review of pump prices of petroleum across the country.
“The beauty of this is that there will be new entrants, because oil marketing companies’ reluctance to come into the market all along is the very fact of the subsidy regime that is in place. And that subsidy regime doesn’t have a guarantee of repayment back to the those who provide the product at subsidise price and now that the market is being regulated, oil marketing companies can actually import product or even if it is produced locally, they can buy and take it into the market and sell it at its retail price.
“Therefore, you will see competition, even with NNPC. And by the way, by law, NNPC cannot do more than 30 per cent of the market going forward. As soon as the market stabilises, oil marketing companies are able to come in.
“Competition will definitely come in and the market will regulate the prices itself. Therefore, this is just an instantaneous price and within a week or two, you will continue to see different prices because of different approaches from major players, companies have different approaches to it and competition will guide that. Ultimately, you’d see changes downwards and it is very likely because efficiency will come in.
“As soon as competition comes in, people will become more efficient in their depots, in managing their trucks and in managing their fuel stations so that people can come to their stations. And it is showing already, right now, you will see motorists going to stations where they can have price differences, so this will regulate the market and on its own, the price will come down naturally and I don’t see any doubt about this.”
Succour came the way of the David Mark, following the restoration of his leadership of African Democratic Congress (ADC), by the Supreme Court, which removed the order by the Court of Appeal for parties to maintain status quo ante bellum pending the determination of its leadership crisis at the Federal High Court, Abuja.
The apex court, in a unanimous decision by a five-member panel headed by Justice Mohammed Lawal Garba, held that the Abuja Division of the Court of Appeal acted beyond its jurisdiction by unilaterally issuing such an order after it had already dismissed a case that was brought before it by one of the factions.
“Giving such an order in an appeal it had already dismissed was unnecessary, unwarranted and improper,” the Supreme Court held.
It held that the appeal that was filed before it by Senator David Mark succeeded in part, even as it dismissed the aspect that challenged an ex parte order the Federal High Court made for service of processes in the suit filed by aggrieved members of the party.
The apex court directed the factions to return to the trial court for continuation of hearing of the case.
It will be recalled that the Independent National Electoral Commission (INEC) had removed Mark and Rauf Aregbesola from its portal and website as ADC National Chairman and Secretary, respectively, on April 1, citing the Court of Appeal’s judgment.
The electoral body said it would, in line with the order for maintenance of the status quo ante bellum, not recognise any of the warring factions until the legal dispute is determined.
By Sunny Igboanugo
Between sports and politics, it is difficult to ascertain which is more potent in delivering the dividends of popularity. But in a situation where the two are combined, what is the outcome? It is predictable – a two-fold if not multiple-fold of that.
Evidence of that reverberated last Saturday, when the floors of the Eko Hotels and Suites, Vitoria Island, Lagos, shook to its foundation, with the rooftops almost caving in, while announcing the entrance of Jim Ifeanyichukwu Nwobodo – a man adorned with the garlands from the two worlds after striding through them like a colossus.
For many youngsters who had wondered why the entire atmosphere at the main hall of the prestigious hotel echoed with Jiiimmm – jiiimmm – jiiimmm, the answer was not farfetched. The man that had just walked in had etched his name in the hearts of the people in many ways.
For instance, his tenure marked Nigeria’s most glorious era in sports. Everyone reckons with the Super Eagles of 1994 as the best the country has attained so far in global football reckoning. That, no doubt could easily be attributed to the Nwobodo magic.
As Minister of Sports and Youths Development, it was to his name that Nigeria recorded two major prestigious trophies that put its image on the global sports map – the 1994 African Cup of Nations (AFCON), the second time Nigeria would lift it and of course the globally-acclaimed Atlanta gold medal in football at the 1996 Olympics in the United States.
In this glorious era, Nigeria found its name on the envious list of global sports – not only winning AFCON for the second time in 1994, appearing at the World Cup in the same year, becoming the number one in African football and number five in the world ranking it crowned it all with the spectacular Olympics feat, with the contingents coming home with six medals – two golds, one silver and three bronzes – the best performance ever.
Even his foray into politics had a large component of sports in it, having led then Rangers Football Club of Enugu, as Chairman to its first major continental trophy – the African Cup of Winners in 1977. It was his launchpad into politics so much that his name and face were already quite familiar with the people.
From position of the Chairman, Anambra branch of the defunct Nigerian Peoples Party (NPP), he got elected as the first Executive Governor of the old Anambra State comprising what is today, Enugu, Anambra and Ebonyi States.
In government that lasted from October 1, 1979 to October 1, 1983, he left a legacy that till date remains unmatched by succeeding governments – military and civilians – in infrastructure, education, hospitality among others.
Talk about the Nike Lake hotel, Nike, Enugu; old Anambra State Television, now split into Enugu State Broadcasting Service (ESBS) and Anambra State Television Service (ABS) Awka, Anambra State University of Science and Technology (ASUT), now split into Enugu State University of Science and Technology (ESUT) Enugu and former Anambra State University of Science and Technology (ASUTECH) Awka, now upgraded to the Nnamdi Azikiwe University (UNIZIK), Awka.
There were also the Ikenga Hotels (with branches in Enugu, Onitsha, and Awka); the Nnamdi Azikiwe stadium, Enugu; Eha Amufu College of Education; and College of Education Nsugbe, Nsugbe, now Nwafor Orizu College of Education, Nsugbe.
One of the most flamboyant politicians ever to strut the rostrum in Nigeria, Nwobodo, who cut the image of not only a consummate fashionista but one whose uniqueness stood him out among his peers, also made it to the National Assembly as Senator representing Enugu East in the class of ’99-2003.
Gifted with immense public appeal, with penchant to attract the crowd like honey to bees, the energy his entrance generated as well as the ululations at Saturday’s event, was only too natural and emblematic of a man used to stealing the show at public gatherings.
The spontaneous reactions were simply consequent upon which aspect of him impacted the motley crowd comprising the high and mighty. For those from the South East, many still basking in the reverberating echoes of the politics of pasts, it was still the iconic Jim that had just walked in – a hero, whose name still lit fires in their bellies.
For others, it was the entrance of the most iconic, most esteemed and most revered Igbo leader alive today. The language of the Ogene music and the electrifying performance of the troupe from the South East delivered that part of the message most clearly.
Others recalled the Jim Nwobodo, who as Minister, not inspired the resilience with which the Dream Team, Nigeria’s most of prestigious football team mesmerised the world including the duos of the almighty Brazil and Argentina and returned home with the gold medal from the Olympics and the fanfare that followed the outcome in the streets of Abuja to Lagos, Enugu to Kano and Port Harcourt.
Yet, many must have recalled the effervescent governor of the second republic in the league of progressives, made up of young, vibrant and visionary politicians of that era imbued with fresh ideas of how to move Nigerian into the league of developed nations.
But ultimately, many would surely see the figure that had just walked into that arena as one of the remaining political icons of the class of ’79 – in fact, one of the only two governors of that era still standing today outside Alhaji Awal Ibrahim of Niger State.
So, it was not for nothing that the crowd cheered endlessly as the ex-governor, ex-Minister and Senator made his grand appearance. Nobody would be in doubt that he deserved every bit of attention and recognition.
Any such doubts would be cleared not only by the deluge of ululations from the audience, sustained accolades from both the organisers and fellow recipients, but also by the quality of personalities accompanying the elder statesman, from his homestead, of course, led by Peter Mbah, Governor of Enugu State.
Now, how would this enchanting event have ended without introducing the angle of Pat Nwobodo, the delectable wife and soft side of the Jim brand. The goddess of the Nigerian stock market, financial guru and former Managing Director and Chief Executive Officer (MD-CEO) of Savannah Bank Plc was there in tow.
Standing by her husband to whom she had graduated beyond a wife, partner, an ally a friend, to the major pillar along the path of the build-up and along the twist and turns of politics, statecraft, completed the picture of the evening.
Indeed, The Vanguard Lifetime Achievement Award for 2025, would be added to the list of the various trophies hanging on the walls of this octogenarian politician, sports enthusiast and administrator, leader of men and material and statesman extraordinaire.
But it certainly would not end there. The greater laurel is the imprint of his legacy in the hearts of his admirers as was showcased by the crowd which welcomed him with that loud ovation. That would be the more long-lasting – the more enduring.
For as the sage himself told the audience, while appreciating the recognition – getting awards while one was in power, could be good – but getting awards outside power, remained the more enduring, because it emblemised good memories – the best legacy of man on earth.
The Supreme Court on Thursday, finally nailed the Seyi Makinde camp of the Peoples Democratic Party (PDP), which also includes Bala Muhammed, Governor of Bauchi State, by nullifying the national convention held in Ibadan, Oyo state, on November 15 and 16, 2025, which produced Taminu Turaki as National Chairman.
Justice Stephen Adah, who read the majority judgement in a two-three split decision of the five-member panel of the apex court, dismissed the appeal filed by the camp, which had earlier lost at the Court of Appeal, for lacking in merit.
Adah, said the camp not only violated a susbsisting order of the federal high court which restrained it from proceeding with the planned convention, adding that such defiance of an existing judgment of the Federal High Court, delivered by Justice James Omotosho would not be condoned by law.
Berating the Turaki-led group for going on to another court of coordinate jurisdiction to secure an order, instead of going on appeal, the apex court described the move as an abuse of court process, adding that any litigant who engaged in the act of abuse of court process would do so at his or her own peril.
The majority judgment dismissed the appeal for lack of merit.
The Turaki group had asked the Supreme Court to set aside a Court of Appeal ruling that voided the convention for breaching a subsisting court order.
Through their counsel, Paul Erokoro (SAN), the appellants urged the apex court to uphold the convention and dismiss a cross-appeal filed by a rival faction loyal to the Minister of the Federal Capital Territory, Nyesom Wike.
However, the respondents, including former Jigawa State Governor Sule Lamido, contended that the dispute transcends internal party matters and centres on disobedience to a valid court order.
Lamido had earlier obtained a Federal High Court injunction barring the PDP from holding the convention until he was permitted to contest for the position of national chairman.
Despite the order, the party went ahead with the exercise—an action later declared unlawful by both the trial court and the Court of Appeal.
The appellate court further ruled that the matter was not protected under the doctrine of internal party affairs and accordingly nullified the convention.
The apex court further held that political parties are the vehicle through which politicians get to public office, hence they have a responsibility to obey court orders in deference to the rule of law.
Stressing that once a party knew of an order of court, it was bound to obey it, the court held: “The conduct of the national convention of November 15, 2025, is null and void and is hereby nulled. This court will not lend its machinery to any litigant who abuses the process of the court. This appeal is lacking in merit and is hereby dismissed. Parties will bear their own costs,” it added.
Justice Haruna Samani, in the minority judgment he read, maintained, among other reasons, that the process of who runs a political party is the internal affairs of the party, and therefore not within the jurisdiction of the lower courts.
This position was also supported by Justice Abubakar Umar, who cited an earlier ruling of the Supreme Court, which states that any matter that does not concern primary elections of political parties is not a pre-election matter and therefore not justiciable.
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