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Don’t tamper with Petroleum Equalization Fund, IPMAN tells FG

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Don’t tamper with Petroleum Equalization Fund, IPMAN tells FG

The National President of independent Petroleum Marketers Association (IPMAN) elder Chinedu Okoronkwo has asked the Federal Government not to tamper with the Ptroleum Equalisation Fund as it belongs to the marketers

Speaking at a press conference at its headquarters at No 41 Gnassingbe Eyadema Street in Asokoro in Abuja he said there is the rumour that the Petroleum Equalisation Fund would be expunged.
“We want to place on record that the Fund is marketers fund, it is our money, no Government money is in that place. If there is anything Government wants to do we should be consulted and we will also offer advice.
“A lot of our members money is still in that fund the Management of PEF has not eaten our money.

He distanced IPMAN from the recent protest in Portharcourt saying that some people who are not members of the Association in any way and any standard claimed to be members by joining other groups to protest against Government.
Okoronkwo at the press briefing in Abuja yesterday said those that protested are not their members
“IPMAN is willing and ready to work with Government in all ftontiers. Something happened in PortHarcourt yesterday where some people who are not members of the association by any standard protested.
“If we want to do any demonstration or what ever, it will start from our headquarters at No 41 Gnassingbe Eyadema Street in Asokoro in Abuja.
“We have never asked anybody to do anything. More so as independent petroleum Marketers Association we are responsible Nigerians. Our idea and agenda is to partner with Government  and see how we can make our own contribution not to fight.”

He said it is not a time to fight, but time to bring their idea together with that of Government and put everything on the table.
“We want to disown whatever that happened in Port Harcourt yesterday.”
He said a lot of things are happening in the sector
“We want to put it on record that IPMAN is not in anyway part of why Nigerians are suffering.
“Come to think of it, we are the ones bearing the brunt because since 2008 we have not had anything in terms of our margin  but we have to ensure that this products gets to all the nooks and crany of this country, so we should be given a pat in the back.”

He said they know due deregulation goes with a lot of things but let them be carried along to see what they can also do so that the product would be enjoyed at every nooks and crannies with out any issues.
“Our duty is to partner with Government, we are not an association that fights Government we control over 80 % of the downstream sector of the economy in Oil and Gas
If we would be fighting Government, Our workers, those depending on us and the Nigerian public will suffer. We have seen our activities in the sector as being very important.
“We want to say we are in support of Government program in anything they want to do especially with PMS. We should be consulted may be our idea will give a better and robust way things should be down.
“Basically the money is our money, we are the ones controlling it. We can equally do our own internal equalization. So far we are in sync with Government programs especially in the reform in the oil and gas Government is about rolling out.”
He said the reform would bring additional income to boost their members alternative source of income.
“We welcome it and also ask Government that this money that has been set for this program is the channel they can use to reach all the nooks and crannies with over 80% of members filling stations scattered all over Nigeria.”
“We have also put our consultants in place on how this money would be managed for members and Nigeria would have cheaper energy and cheaper gas and the economy would begin to grow again.”

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Group Promises Affordable Mass Housing For Ubarn Poor

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Group Promises Affordable Mass Housing For Ubarn Poor

Association for the Support of Urban Poor (FEDUP) has promised to deliver affordable housing for its members.
A new board was constituted after the last management was accused of embezzling over N200m for which the matter is in court.

Secretary of the association Mr. Yusuf Edego said the association is building confidence and credibility after the mismanagement that affected its clients.

He stated this yesterday in Abuja during a press briefing to let the public know the association’s effort in giving the group a new image.

Edego said with what the new management team has put on ground they believe their members and the general public will have confidence in the new team to deliver affordable housing for them.

“By a persons impact, performance, character and sincerity as well as walking the talk, with time people will see that the project is a reality”

He said the major problem as a people is lack of sincerity and that once people see that a person is sincere they will trust him to deliver.

“The major problem bedevilling the country is integrity. Many people especially in property development, more than 60% collect money from people and the public generally yet there is nothing on ground to show for it.
“That is why we removed the former executive members and then came up with elected people of integrity.
“Our chairman is a paramount ruler of impeccable integrity. I am a legal practitioner I have my law firm at Jennifer plaza Central area.
“So you have people with verifiable address. We are people that people can enquire and link up with our character.  “They know that for our records we are people of integrity and we are sure that by God’s grace they will not be disappointed”

On how he thinks people will have confidence in the association after the dent on its integrity he said it is the reason for the press conference. “Before we came we have one or two projects on ground that are verifiable that has been executed by the new executive.
“We have acquired twelve hectares at Kurudu that you can verify which you can buy and build your own house.
“Also the public can go to FCDA at the SDD department and meet the director that FEDUP claim they are in partnership with them to build about 167 housing units at Kuje.
“They are verifiable. Then the issue of 30 hectares we just acquired is still in process.
“We have the Family homes Fund which is an agency established by the Federal Government for provision of Social Houses for Nigerians so we are partnering with them by the grace of God they have agreed to sponsor the 30 hectares for the general Public

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African economic congress opens portal to select credible entrepreneurs

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African economic congress opens portal to select credible entrepreneurs

The African Economic Congress (AEC) has opened a portal to select credible entrepreneurs through its African Startup Challenge.

Mrs Nancy Illoh-Nnaji, Chief Executive Officer of the congress made this known in a statement in Abuja on Thursday.

Illoh-Nnaji explained that African Start-up Challenge was an entrepreneurship sustenance body of the Economic Congress tasked with discussing business development issues relating to
startups and small enterprises.

She said the start-up was introduced to build jobs and boost livelihoods in Africa and it also sought to infuse a culture of creativity and foster innovations.

According to her, the expected outcome
of the competition is to select winning ideas that can lead to new products,
programmes, projects and processes.

She added that this development would also help to engage young entrepreneurs eager to tackle the challenges they faced as well as global challenges through “smart solutions” that transform the economy of Africa and the world.

She said the annual competition would highlight Innovation, Technology and Originality in African Entrepreneurs.

The AEC boss noted that application had opened on October 4, and would close Oct 21, urging interested applicants to draft a short summary of startup ideas,
detailing plans on profitability and apply through startup@aecongress.org.

Meanwhile, Illoh-Nnaji disclosed that
more than 1,000 participants from all over Africa would be at African Economic Congress (AEC) from November 2 to 4 which would be held through televised virtual congress.

It will be recalled that, AEC held its maiden congress in 2019 in Abuja, Nigeria with participants drawn across the Africa continent. (NAN)

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Buhari reviews fertilizer price downwards

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Buhari reviews fertilizer price downwards

The price of fertiliser has been reviewed downwards from N5,500 to N5,000 per bag as ordered by President muhammadu Buhari.

This is inline with the Buhari administration policy of encouraging the populace to return to the farms.

The Food Security Council made the disclosure while briefing reporters at the end of the body’s meeting presided over by the Chief of Staff to the President, Prof. Ibrahim Gambari, yesterday in Abuja.
Vice Chairman of the council and Kebbi State Governor, Atiku Bagudu,
said the decision followed nomaliasation of production of the commodity since the reopening of Indorama plant in Rivers State shut after the COVID-19 pandemic claimed some lives.
Governor Abubakar Badaru of Jigawa State, who represents the North West in the council, said the council observed that the bulk purchase for palliatives was one of the factors that trigged increase in prices of foods nationwide.
He therefore, expressed confidence that the situation would normalise after the harvest season.

Badaru made the observation while addressing the media alongside his Plateau counterpart and representative of North central, Simon Lalong, the Jigawa chief executive said the trio of Coalition Against Covid-19 (CACOVID), federal and state governments were involved in the mass buying as part of measures to mitigate the adverse effects of the disease.

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