News
Marketers distribute 25 million litres Dangote diesel
Independent marketers have lifted and distributed over 25 million litres of Automotive Gas Oil, popularly called diesel, produced by the Dangote Petroleum Refinery in less than three months after the plant started releasing AGO to the market.
It was also gathered on Saturday that the registration of oil marketers with the $20bn firm was still ongoing, as more dealers register with the plant ahead of its readiness to push out Premium Motor Spirit, also known as petrol, into the domestic market in July.
Marketers are also ready to begin PMS distribution from the plant.
The Independent Petroleum Marketers Association of Nigeria, Major Energies Marketers Association of Nigeria, and Petroleum Products Retail Outlets Owners Association of Nigeria confirmed the registration of their members with the Lagos-based refinery.
They also confirmed the continued lifting of diesel from the facility, stating that this has stabilised the price of the commodity and ensured its adequate supply since the commencement of production in March this year.
Diesel price crashed from about N1,800/litre to N1,200/litre after Dangote refinery released the product into the Nigerian market late March 2024, and since then the product’s availability has been guaranteed across the country.
Commenting on the stability of diesel price and its availability since Dangote started production, as well as the registration of marketers with the refinery, the National Public Relations Officer, IPMAN, Chief Ukadike Chinedu, told our correspondent that over 25 million litres of AGO from the plant had been distributed by IPMAN members nationwide.
“Independent marketers are registering with Dangote, and many of us have lifted a lot of product from Dangote’s depot. I’m aware of so many marketers who have registered with the Dangote refinery.
“I can also confirm that independent marketers have loaded over 25 million litres of diesel since the refinery started the domestic sale of diesel to downstream oil sector operators in Nigeria,” Ukadike stated.
On April 2, 2024, oil marketers revealed that the Dangote refinery had commenced the sale of diesel to the domestic market.
Dealers and officials of the plant also confirmed the development at the time, as they explained that the plant actually started diesel sales the previous week.
“They started pumping out diesel to marketers since last week. They also promised to sell aviation fuel soon. Some of my members confirmed this to me after making a purchase,” the National President, IPMAN, Abubakar Maigandi, had told our correspondent at the time.
Maigandi had also stated that the move by Dangote would lead to a crash in diesel price, as the commodity rose to a high of about N1,700/litre at the time.
“The price of diesel is going to fall because of the release of products from Dangote Refinery. In fact, it is already coming down in Lagos,” Maigandi had stated.
This eventually happened after Dangote crashed diesel price to N1,200/litre.
Although officials of the Dangote refinery have remained silent on issues about the plant, dealers stated on Saturday that the marketers were anxiously awaiting the release of petrol from the plant, with the hope that this may crash the cost of the commodity.
“Marketers are loading more products from the plant and are eager to begin the lifting of PMS from the refinery, since the Chairman of the group has said that PMS should hit the market in July,” Ukadike stated.
He added, “I must say that it is a good thing to know that PMS is being finalised for release from that plant. This is because since Dangote diesel came into the market the price of diesel has not crossed the N1,200/litre mark.
“Independent marketers even in far away northern states are selling diesel at N1,200/litre at the pumps. So the coming of Dangote has slowed down the skyrocketing price of diesel. Now we are expecting PMS by July and this will end the importation of petroleum products.”
News
Renovation: Tinubu, Shettima’s official quarters to gulp N6.36bn
The Federal Government has allocated a total of N6,364,181,224 billion for the renovation and rehabilitation of the residential quarters of President Bola Tinubu, Vice President Kashim Shettima, and some of their aides in the 2025 budget proposal.
Sunday PUNCH’s analysis of the proposed allocation, contained in the 2025 Appropriation Bill presented to the National Assembly, showed that the annual maintenance of the Presidential Villa would gulp N5.49bn.
According to the proposed budget, N765m will be used for the renovation of the Vice President’s quarters and guest house.
The renovation of the president’s quarters at the State House will cost N6.39m, while the renovation of security quarters, auditorium, gymnasium and presidential aides’ quarters will cost N49m.
In addition, the renovation of Prescott barracks at Maple State House officers’ mess building and signal office in Asokoro, Abuja will cost N51m.
Further analysis of the budget revealed that Tinubu and his vice are also expected to have N87m as honorarium and sitting allowances, while N127m was allocated for the procurement of SUVs.
Also, N3.66bn was budgeted for the purchase of State House operational vehicles and N1,09bn will be spent on replacement of SUV vehicles at the State House.
Under the budget of the State House Lagos Liaison Office, there is an allocation of N14.72m for the routine maintenance of State House Lagos facilities (Dodan Barracks, Vice President guest houses at Ikoyi, among others).
Another N140.10m was allocated for the completion of renovation and furnishing of the State House annex (Dodan Barracks), Lagos.
Meanwhile, the Federal Government is planning to spend N1.83bn on converting forfeited properties from the Economic and Financial Crimes Commission into State House quarters.
The plan to convert forfeited houses from the EFCC comes in the same month that the commission disclosed the recovery of an estate in the Lokogoma District of Abuja, measuring 150,500 square metres and containing 753 units of duplexes and other apartments.
The commission described this as its “single largest asset recovery” since its inception in 2003.
The estate rests on Plot 109 Cadastral Zone C09 of the district, and was forfeited in a ruling on Monday, December 2, 2024, by Justice Jude Onwuegbuzie.
(Punch)
News
SEE NAIRA Rates Against The USD, GBP, EURO Today December 23, 2024
WHEN we look at this month, USD was traded at ₦ at the beginning of this December on Monday, December 2, 2024. As at today with USD being traded at ₦1,655 we see a % for United States Dollar to Naira exchange rate for this month.
On this page, we are primarily focusing on the Black Market Dollar To Naira Exchange Rate Today, the USD to Naira currency pair are the most traded currency in the FX market.
Black Market Exchange Rates
Buying Rate
Selling Rate
Dollar to Naira 1655 1640
Pounds to Naira 2150 2000
Euro to Naira 1730 1700
Canadian Dollar to Naira 1146 1135
Rand to Naira 52 43
Dirham to Naira 0 0
Yuan to Naira 62 62
G.Cedi to Nair 70 50
CFA F. (XOF) To Naira 0.83 0.81
CFA F. (XAF) To Naira 0.74 0.74
READ ALSO: INSIDE LIFE: 26-Year-Old Lady Died In Bangladesh With No One To Claim Her Body, She Is A Nigerian From Enugu (SEE PHOTO)
Having full knowledge how much USD to NGN black market exchange rate today will give you a better opportunity to plan and make informed decisions.
Nairatoday.com
News
Passengers Stranded As Warri-Itakpe Train Derails In Delta Community
Passengers of a train plying the Warri-Itakpe route escaped death on Sunday as the train derailed at Okpara in the Ethiope East Local Government Area of Delta State.
It was gathered that the passengers were stranded following the incident that happened at about 10pm.
According to eyewitness accounts, some of the passengers got to their destinations on Monday morning.
“The incident happened at Okpara Station last night. They stole many people’s phones and other valuables when they slept at night,” a source said.
“It’s this morning that everybody began to find their way to their various destinations.”
The Nigerian Railway Corporation confirmed the incident in a statement by its spokesman, Yakub Mahmood on Monday.
Mahmood said the service will resume shortly, adding that a team of engineers is at the site of the incident to ensure the track is restored soon.
According to him, the train service will resume as scheduled on Monday afternoon.
The statement reads in part, “The management of the Nigerian Railway Corporation (NRC) hereby informs the general public, especially our valued passengers that ply the Warri-Itakpe route, that following the minor derailment yesterday at the Okpara station, the service will resume shortly as our team of engineers are at the site of the accident to ensure the track is restored anytime soon.
“However, Itakpe-Warri (Ujewu) train will resume as scheduled in the afternoon today.
“All inconveniences caused as a result of the minor derailment is highly regretted.”
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