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Dangote deal: Oil marketers promise reduced fuel prices

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By Francesca Hangeior.

 

Oil marketers have assured that Premium Motor Spirit (PMS) prices will drop once they start directly lifting products from the Dangote Refinery.

The Nigerian National Petroleum Company Limited (NNPCL) is the sole entity lifting products from the refinery, which led to a significant surge in petrol prices.

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Prices in Lagos have skyrocketed to ₦950 per litre, with consumers in northern areas paying up to ₦1,000 per litre.

The sharp increase has placed an additional strain on businesses and households already dealing with rising inflation.

However, in a move expected to provide relief to Nigerians facing soaring petrol prices, the Spokesperson for the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, yesterday, provided an optimistic outlook during an interview on National Television, monitored by The Nation.

He confirmed that discussions between marketers and the Dangote Refinery for direct product lifting are underway, and expressed confidence that prices will drop once these arrangements are finalised.

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Ukadike emphasised the critical role independent marketers could play in stabilising petrol prices across the country.

“It is just very simple. It shows that the liberalisation of the market is on the course because there is no way Dangote refinery will be producing petrol in Nigeria without considering IPMAN as one of its strategic stakeholders,” he remarked.

Highlighting IPMAN’s extensive network of filling stations, which account for approximately 85 percent of the country’s distribution outlets, Ukadike suggested the involvement of independent marketers in product lifting from the refinery could resolve current pricing disparities.

He said: “We were even thinking that one of his first points of call was to discuss with IPMAN and not NNPCL because we can distribute every single drop of products produced by Dangote Refinery.”

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He noted that competition and independence in sourcing products would drive down petrol prices, saying, “Immediately after we discuss and commence direct lifting of product from Dangote, the issue of pricing and differential in pricing will be gone. What we are seeing here is price disparity. But if IPMAN becomes independent, prices will drop.”

Drawing from the successful reduction in diesel (AGO) prices when independent marketers began sourcing directly from Dangote, Ukadike expressed optimism for a similar outcome with petrol.

“Dangote also opened up to IPMAN when he started producing AGO, diesel. We entered the market and started buying it, and prices of AGO came down from N1,600 to between N1,000 to N1,100,” he explained.

He concluded by calling for an inclusive market, noting, “This is a deregulated economy, and every stakeholder and player should be given equal opportunity.”

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Not Diabetes And hypertension, Son Reveals Shocking Details About General Rabe’s death

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A son of late Major General Rabe Abubakar (rtd), Isyaka Rabe, has broken his silence regarding the condition of his late father while in captivity and the mystery surrounding how the family received his remains.

He made the clarification while speaking in an exclusive interview with Deutsche Welle (DW).

Isyaka debunked the narrative put forward by authorities, stating that his father had no history of diabetes or high blood pressure, contrary to the claims publicly attributed to the Katsina State Government.

When questioned about the circumstances under which the family recovered the late general’s body, Isyaka revealed that the family was completely kept in the dark by official channels.

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“When I announced the time for my father’s funeral prayer, many people began asking how the body was recovered. I told them I did not know and that they should direct such questions to the government,” he stated.

He added that while only God knows the actual cause of his father’s death, reports suggesting he died from standard health complications are inaccurate, pointing out that many believe the retired general was killed by a venomous animal.

“Some people believed the late General might have died from a snake bite, based on the last video released by the kidnappers,” he said.

He further dismissed rumours about his mother’s return by confirming that she still remains in the forest.

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“Take it from me, our mother is still in captivity. She has not been released,” Isyaka clarified.

The late general and his wife were abducted by bandits on May 30, 2026, along the Marabar Musawa–Kafinsoli Road in the Matazu Local Government Area of Katsina State, with the officer subsequently dying in custody.

Following the incident, the Katsina State Government announced that he passed away from complications related to diabetes and hypertension.

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Reps Summon Emergency Session to Consider Fresh Extension of 2025 Capital Budget

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By Gloria Ikibah

Members of the House of Representatives have been summoned to an emergency sitting scheduled for Monday, June 15, as lawmakers move to consider a further extension of the implementation period for the capital component of the 2025 budget.

The notice, issued by the Acting Clerk of the House of Representatives, Ibrahim Sidi, informed lawmakers that the emergency session would commence at 11:00 a.m. in line with the provisions of the House Standing Orders.

“I am directed to inform all Honourable Members of the House of Representatives that an Emergency Sitting of the House will be held on Monday, 15th June 2026 at 11:00 AM pursuant to Order Five, Rule 2(2) of the Standing Orders of the House of Representatives.

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“The purpose of the Emergency Sitting is to consider the Appropriation (REPEAL and Enactment) Act, 2025 (Amendment) (No. 2) Bill, 2026 to further extend the implementation of the Capital aspect of the Budget from 30th June to 30th September 2026”, he said.

If approved, the extension will provide Ministries, Departments and Agencies with an additional three months to complete and fund capital projects captured in the 2025 fiscal framework.

The notice also urged lawmakers to accord the session the highest level of importance given the significance of the legislation before the House.

“All Honourable Members are required to take note and accord the Sitting priority attendance, please”, it added.

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The emergency sitting comes as the National Assembly continues efforts to ensure the effective execution of capital projects and prevent disruptions to ongoing government programmes across the country.

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Tinubu Hails SEDC Boss Mark Okoye at 40, Praises Public Service Record

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By Gloria Ikibah

President Bola Tinubu has congratulated the Managing Director and Chief Executive Officer of the South-East Development Commission (SEDC), Mark Okoye, on the occasion of his 40th birthday, commending his contributions to public service and leadership in national development.

In a statement issued by the Special Adviser to the President (Information & Strategy),Bayo Onanuga, on Sunday, the President celebrated Okoye’s milestone birthday and acknowledged what he described as an impressive record of service spanning more than a decade.

Before assuming leadership of the South-East Development Commission, Okoye held several strategic positions in Anambra State, including Managing Director and Chief Executive of the Anambra State Investment Promotion and Protection Agency. He also served as Special Adviser to the Governor before later becoming Commissioner for Economic Planning, Budget and Development Partners.

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The President used the occasion to recognise Okoye’s achievements in public office and his commitment to advancing development initiatives.

The statement read: “President Tinubu acknowledges Okoye’s dedication, resilience, and passion for service, and encourages him not to relent in his efforts to manage the South-East Development Commission and deliver on its mandate.”

The statement noted that the President views young leaders as critical to Nigeria’s future and expressed confidence in the capacity of the country’s emerging generation of public servants.

Tinubu also praised Okoye’s professional conduct throughout his years in government service.

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“As a youth-centric leader, the President states that, with Okoye and many other innovative young people in his administration, the nation’s future remains promising.

“The President celebrates Okoye on this milestone and commends his 14-year unblemished record in public service.”
The President joined family members, friends and associates in celebrating the SEDC chief executive, offering prayers for his continued wellbeing and success.

“President Tinubu joins family, friends, and well-wishers in wishing Okoye a happy 40th birthday, good health, and renewed strength as he continues his service to the nation”, he added. 

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