News
DASHED hope as petroleum marketers refutes news of PMS pump price adjustment
By Francesca Hangeior
Petroleum product marketers and other operators in the downstream sector have refuted claims of a downward adjustment in the pump price of petrol at depot facilities.
News broke from some quarters of the media that petroleum outlets are continuing to sell at prevailing market prices, without any noticeable changes.
Investigation also revealed that major depots in Lagos also confirm that prices have remained unchanged.
A source close to depot owners explained that such adjustments are unlikely at the moment due to the fluctuating exchange rate and the ongoing cost of hiring vessels to transport products to depot facilities, which ranges between $70,000 to $80,000 per day.
The source further highlighted that costs such as freight and port charges are still settled in dollars.
Billy Gillis-Harry, the national president of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), stated firmly that no such price adjustment has occurred.
“I have placed orders for products, and there has been no mention of any adjustment. My association continues to purchase at the previous prices,” he affirmed.
Similarly, Elder Chinedu Okoronkwo, the BOT treasurer of the Independent Petroleum Marketers Association of Nigeria (IPMAN), also dismissed the speculations, stating that prices remain unchanged for the time being.
A source within the Major Energy Marketers Association of Nigeria (MEMAN) also denied the rumors, suggesting that any potential changes might be related to arrangements between Independent Marketers and the Nigerian National Petroleum Company Limited (NNPCL), allowing direct sourcing of products.
The source explained that MEMAN’s business model involves owning depots and outlets, ensuring stability in prices from their facilities to dispensing outlets.
In contrast, Independent Marketers purchase from depots and distribute to individual filling stations, which could lead to slightly higher prices.
However, this dynamic might change if they begin sourcing directly from NNPCL.
By Gloria Ikibah
As part of the annual 16 Days of Activism Against Gender-Based Violence, the House of Representatives is set to lead a historic march on Monday, November 25, 2024, in a bold effort to tackle gender-based violence (GBV) in the country.
The march, which begins at 8:00 AM, will see over 1,000 participants, including lawmakers and members of the public walk from the National Assembly to the Nigeria Police Force Headquarters in Abuja. The event will culminate in the submission of a petition to the Inspector General of Police, demanding decisive action against GBV and greater protection for vulnerable groups.
Speaking about the initiative, the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, PhD., GCON, said, “This march and the activities that follow are not mere gestures but a reflection of our determination to confront gender-based violence head-on. We are committed to building a society where justice, equality, and safety prevail for all Nigerians.”
In a statement by the House Spokesperson, Rep. Akin Rotimi on Saturday in Abuja, he said, “The 10th House of Representatives has reaffirmed its commitment to systemic reforms, collaboration, and accountability in the fight against gender-based violence.
“In addition to the march, the House has outlined key activities in alignment with its Legislative Agenda (2023–2027) to sustain awareness and action throughout the campaign period.
“Sash Demonstration Ceremony – Tuesday, November 26, 2024
“Convergence of State Assembly Speakers – Monday, December 9, 2024. A strategic meeting at the Transcorp Hilton, Abuja, will bring together Speakers of State Houses of Assembly to discuss legislative measures for combating GBV nationwide.
“National Citizens’ Summit and GBV Conference 2024 – Tuesday, December 10, 2024. The summit will focus on constitutional reforms and securing endorsements for gender equality initiatives led by the House of Representatives”.
Naijablitznews.com reports that this year’s 16 Days of Activism aims to galvanise nationwide efforts and inspire collective action to protect human rights, ensure justice, and create a safer, more equitable Nigeria.
President Bola Tinubu has departed Galeao Air force Basa (SBGL) Airport, Rio de Janeiro, Brazil, on Saturday, for Abuja after attending the 19th G20 Leaders Summit in Rio de Janeiro, Brazil.
The President is due to arrive at the Presidential Wing of Nnamdi Azikiwe International Airport, Abuja, at 10.00 p.m. (Nigerian time).
President Tinubu had attended the G20 Leaders summit where he endorsed the global alliance against hunger and poverty, which he said was pivotal.
The President also held bilateral talks with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), who commended his administration’s economic reforms and their positive indicators.
He also presided over the signing of a 2.5 billion dollar Letter of Intent between the Nigerian government and the JBS S.A., a Brazilian company and one of the top three largest meat processing companies in the World.
The president was accompanied in the trip by senior government officials including the minister of foreign affairs yusuf Tuggar, the national security adviser, Nuhu RIBADU and many others.
HoR to Lead March, Launch Initiatives Against Gender-Based Violence
NUJ-FCT Elections: Comrade Ike To Flag-Off Campaign With Free Medical Checks, Treatment
Anambra Police arrest native doctor, one other for armed robbery, kidnapping
Just in: Terrorists ambush military truck, kill all soldiers on board
Nigerian Dancer, Korra Obidi Attacked with acid, stabbed on stage In UK
Meet Rare Gem 16 Years Old Chiaza, CEO of ‘RUN MARKET PLACE’
-
Metro14 hours agoBusinessDay Journalist Finally Regains Freedom From ‘One-Chance’ Kidnappers In Abuja
-
Metro19 hours agoCourt remands 113 foreigners over alleged cybercrime
-
Metro14 hours agoPolice recover stolen SUV after gun duel with robbers in Abuja
-
News20 hours agoFull List: Innoson, Mitsubishi, Dantama , Others – CAC Delists 80,000 Companies
-
News21 hours agoJapa: We’ve discovered over 10,000 fraudulent foreign student acceptance letters – Canadian Authorities
-
Metro20 hours agoGunmen kidnap journalist’s relatives, demand N50m ransom
-
News20 hours agoFG reinstates Ikechebelu and Modebelu as UNIZIK Acting VC and Registrar
-
News14 hours agoFG insists Rivers State funds is intact was never stopped