PIB’s Passage50,000mt ThreatenedofasMaize Stakeholders SeekPrice FreshArbitrage Alterations CBNEarly Releases to Curb
TUESDAY JUNE 29, 2021
1
T H I S D AY
James Emejo in Abuja Emmanuel Addeh in Abuja with agency report
The Central Bank of Nigeria (CBN) approved the A weekhasbefore the latest deadlineofto 50,000 pass Nigeria's release metric long-awaited tonnes of maize toPetroleum 12 major Industry Billto(PIB), demands producers control the for big changes, including from price of the commodity. community leaders seeking an
The bankshare saidof yesterday increased revenues, that rolloutinto of couldthe pushlatest its passage the from the late commodity this year, four sources Strategic Maize Reserve have told Reuters. The last-minute (SMR) under thewrangling Anchor over the bill, which aims to Borrowers’ Programme modernise Nigeria's petroleum (ABP) to companies would industry and attract a be the third intervention by shrinking pool of global fossil
the CBN in recentdollars times. has fuel investment It stated that disappointed thosethe whorelease hoped of the grains is aimed at the political alignment of the checkmating presidency andthe the activities National Assembly wouldhoarding break the jinx of middlemen the that has stalked the overhaul product to cause artificial efforts scarcity.for 20 years. Among the changes are CBN spokesman, Mr. Osita proposals to publicly sell
Nwanisobi, confirmed the shares in the Nigerian National release of the Corporation grains in a Petroleum statement and yesterday and (NNPC) implement market-based prices for that gas expressed optimism to thepower. release would crash Reuters reported at the price of maize, that reduce acrimonious meetings in pressure on the market, and the Abuja during the week, make the product directly community leaders revived
available to producers, demands tofeed increase their thereby reducing produced the price share of petroleum oftheir poultry feed.to 10 per cent, in regions Hefrom added that up 2.5 per cent.as part oil ofCommunities the bank’s with financing exploration in CBN Northern framework, the would Nigeria's Chad region continue Lake to facilitate the and the middle of the country funding of maize farmers are also seeking a greater share
and
processors
through
of oil revenues. the ABP commodity The National Assembly goes association, private/ on recess in early July, so if prime anchors, state the package is not and approved governments, Maize within the next two weeks, itAggregation cannot become law until Scheme September. Continued on page 10
Continued on page 10
Okonjo-Iweala Seeks Lower Trade Cost to Boost Africa’s Economic Recovery... AMCON Replies NICON Investment Limited, Says Hotel is for Sale... Page 8
page 10
Tuesday 29 Thursday 24 June, June, 2021 2021 Vol 26. No 9577. Price: Vol 26. No 9571. Price: N250 N250
www.thisdaylive.com www.thisdaylive.com
TODAY'S WEATHER
TR RU
ON UT TH H & RE A S
ABUJA 25°C-33°C
MAIDUGURI 31°C-31°C
ENUGU 25°C-28°C
KANO 27°C-33°C
LAGOS 24C-27°C
PORT HARCOURT 20°C-30°C
Smuggled Petrol Rises to 42m Litres Daily NNPC Cries Out MACRON HOSTS AFRICAN BUSINESS CHAMPIONS...
Says subsidy hits N150bn monthly
President Emmanuel Macron (left); and Commander, Legion D’Honneur France, Dr. Mike Adenuga Jnr., in Versailles Castle…yesterday litres. Emmanuel Addeh in Abuja With the menace now Nigerian National Petroleum gaining more momentum and Corporation (NNPC) yesterday illegal dealers more daring, the lamented the escalating oil company stated that the incidence of petrol smuggling subsidy that the government across Nigeria’s borders, which pays on petrol every month, it puts at a whopping 42 in order to keep the pump price of petrol stable at N162 million litres per day. The corporation said the per litre now hovers between unbridled smuggling has N140 billion and N150 billion. The development has made increased Nigeria’s estimated GMD/CEO, Access BankofPlc., daily consumption 60Mr. Herbert Wigwe (left), President Emmanuel Macron and Chairman, BUA L-R: President Emmanuel Macron; GMD/CEO, Access Bank Plc., Mr. Herbert Group, President Emmanuel former on page 10 Alhaji Abdul Samad Rabiu, at the Choose Wigwe; President, Dangote Industries Limited, Alhaji Aliko Dangote; and million litres to 102Macron millionof France andContinued France Summit in Versailles, France…yesterday Billionaire businessman, Mr. Gilbert Chagouri Governor, Bank of France, Mr. Christian Noyer
Presidency Replies Critics, Washes Hands off Media Bills
PDP Warns Matawalle, Vows to Challenge his Defection in Court Call Mohammed to order, stakeholders urge Buhari
Deji Elumoye in Abuja
The presidency has washed its Chuks in Abujaattempt hands Okocha off the current by the National Assembly to amend the Nigerian Press The Peoples Council (NPC)Democratic Act and Party (PDP) Broadcasting yesterday the National cautioned Governor Belloa Commission (NBC) Act, move, mediaofstakeholders Matawalle Zamfara and other have State againstNigerians his planned condemned as an attempt
to gag the press. In a swift response, the Nigerian Guild of Editors (NGE) and thetoNigerian defection the Union All of Journalists (NUJ) have Progressives Congress urged President Muhammadu (APC), stressing his Buhari to call the that Minister defection amounts to a of Information and Culture, decision to vacate office as Alhaji Lai Mohammed to order, the minister no lawaccusing allows him to cross
over to any other party with
Continued on page 10
the governorship mandate has dissolved the state’s said that the 1999 law as it is subject to legal statutorily given to the executive council as a constitution as altered interpretations. main opposition party. PDP precautionary measure. has no provision for The party said it was watching developments also informed the governor Addressing a press independent candidate. that his defection would be conference yesterday, the He specifically stated in Zamfara State as they challenged in the court. National Publicity Secretary, that the PDP will test the Secretary the Government Mr. Boss Mustapha (left), and President Muhammadu Buhari during the10 Federal The maintoopposition partyof the Mr.Federation, Kola Ologbondiyan, defection in a court of Continued on page
STATE OF THE MATTER... Executive Council in Abuja…yesterday
godwin omoigui
Sultan of Sokoto: Tribal Politicians are Bent onSays Tearing Nigeria We Have Tribal War on Our Hands, Gumi... Page 5 Apart...
five times the commitment Because you deserve more we will refund you 5 times the transaction fees if we don’t reverse a failed instant transfer in one business day.
page 5
That’s how we are changing for the better. #CommittedtoGivingMore