Minister of State for Petroleum , Dr Ibe Kachikwu during a tour of the Port Harcourt refinery on Christmas Day said that the Federal government is working to reduce the pump price of petrol to about 85 or 86 naira per litre by Jan 1st. He said efforts were on to get the refinery to achieve 60 percent production capacity and to supply about 11 million liters of petrol daily. “If you look at the new PPPRA template that we developed and which I just signed off two days ago, when it is announced you will find out that for now ,and I use the emphatic word of the President for now, the price of the refined product will actually be lower than 87 naira, It will be 85. We will probably announce that in January if the prices hold. “Like I said, we have done a modulation calculation and it is showing us below N87. I imagine that if PPPRA publishes it today, it will become effective immediately. But the 1st of January that is when we are looking at.” “What that does for you is that its modulating. If it goes up you move up, if it comes down you come down. So we take away the fact of having to go find funds to pay for these subsidies that we cannot afford. “More importantly we try to be as close to the pump price that we have now as possible,” he said. Source: VanguardSaturday, 26 December 2015
FG removes fuel subsidy, says petrol to sell for N85 by Jan 1st 2016
Minister of State for Petroleum , Dr Ibe Kachikwu during a tour of the Port Harcourt refinery on Christmas Day said that the Federal government is working to reduce the pump price of petrol to about 85 or 86 naira per litre by Jan 1st. He said efforts were on to get the refinery to achieve 60 percent production capacity and to supply about 11 million liters of petrol daily. “If you look at the new PPPRA template that we developed and which I just signed off two days ago, when it is announced you will find out that for now ,and I use the emphatic word of the President for now, the price of the refined product will actually be lower than 87 naira, It will be 85. We will probably announce that in January if the prices hold. “Like I said, we have done a modulation calculation and it is showing us below N87. I imagine that if PPPRA publishes it today, it will become effective immediately. But the 1st of January that is when we are looking at.” “What that does for you is that its modulating. If it goes up you move up, if it comes down you come down. So we take away the fact of having to go find funds to pay for these subsidies that we cannot afford. “More importantly we try to be as close to the pump price that we have now as possible,” he said. Source: Vanguard
Friday, 25 December 2015
Femi Otedola's children pictured with their Grandma
Wealthy Businessman Femi Otedola's children, Florence aka DJ Cuppy, Prince Otedola, Temi Otedola and Olawunmi Christy Otedola pictures with their Grandma in Epe for their Annual Children's Christmas Party. Another photo after the cut... 
Photos: Gov. Ambode and Sen. Remi Tinubu at Island Club 2015 Christmas Eve Dance Party
Lagos State Governor, Mr. Akinwunmi Ambode (middle), with Senator Oluremi Tinubu (left) and Chairman, The Island Club, Mr. Oladipo Okpeseyi, SAN (right), during the Island Club 2015 Christmas Eve Dance at the Peacock Hall, Island Club, Onikan, Lagos, on Thursday, December 24, 2015. More photos after the cut... 
Flavour shares another adorable photo of his daughter
Flavour shares a picture of his adorable daughter with Anna Banner.Korede Bello Hangs Out With Yoruba Comedian, Mr Latin (Photos)
Top Yoruba Comedian Bolaji Amusan popularly known as Mr Latin was pictured with Mavin Records korede Bello at an event.Olamide Shares Chrismas Photo With His Son “Milliano”
The rapper turned singer shared this photo this morning and captioned it “Merry Xmas from Batman and baddo”. Happy Christmas YBNL TeamEkiti APC To Sue Fayose For ‘Reckless Spending’
The All Progressives Congress (APC) in Ekiti State has said it will sue Governor Ayo Fayose for the “reckless manner in which state funds are spent”. The party said Fayose would explain his fabricated figures on the state’s debts, aimed at deceiving the people and undermining ex-Governor Kayode Fayemi, in court Reacting to claims by Fayose’s media aide, Lere Olayinka, that Fayemi plunged Ekiti into debts without any commensurate projects, Publicity Secretary Taiwo Olatunbosun said, in a statement yesterday, that it was only the blind that could not see the developmental projects of the former governor. The opposition accused Fayose of telling tall tales, saying Fayose’s claim that the state’s debt profile was N232 billion contradicted the N18 billion quoted by the Debt Management Office (DMO). “Fayemi did not borrow to pay salary. He received awards from many international bodies, including the United Nations and top Nigerians, for the feats he recorded in development projects, the last being the budget transparency award that Fayose tried to usurp. “Fayose lied that Fayemi at a point collected N9 billion as monthly federal allocation. The records are there that Ekiti’s monthly allocation remained N2.8 billion throughout and the biggest being N3.2 billion when excess crude oil fund was shared among states. “The former governor owed one month salary, and that was September 2014, and this was as a result of Fayose as governor-elect writing the banks not to honour Fayemi’s credit facility to pay workers and the banks after receiving the allocation for the month in question,” Olatunbosun explained. He added: “Fayemi paid N2.2 billion monthly for salaries, pensions and subventions to higher institutions throughout his tenure. “With thousands of workers losing their jobs and many social services suspended when Fayose became governor, the monthly wage bill has reduced to less than N2 billion contrary to the N2.6 billion Fayose claims is the monthly wage bill.” He challenged the governor to produce the state’s debt figure different from the N18 billion the Debt Management Office (DMO) declared, saying Fayose was not truthful by quoting N232 billion. “This is a man who has introduced all manner of taxes that he can’t account for, yet he comes everyday declaring that Ekiti is broke. “We hereby issue him a deadline of seven days to render accounts of monies received since he assumed office, including taxes he imposed on the people. “The civil servants who he owed three months’ salaries and allowances as well as Ekiti people deserve to know how their money is being spent. “Failure to do this will compel APC to mobilise civil society groups and men of good conscience to press for the investigation and prosecution of Fayose.’’
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