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IPMAN cautions members against purchasing large quantities of petrol

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Independent Petroleum Marketers Association of Nigeria (IPMAN) has cautioned its members to be wary of buying high volume of petroleum products.

The warning, according to IPMAN’s spokesman Chinedu Ukadike, became necessary because of the instability of the petrol market.

With the precaution, he said, the marketers could avoid huge losses from the very frequent price adjustments.

According to him, the Dangote Refinery is loading products from the vessels and any moment soon, it would commence lifting from its gantry.

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He noted that loading the product from the gantry would crash the price, claimed that tank farm owners were taking advantage of loading from the vessels to inflate the prices.

Udadike said: “Dangote has not started selling from his gantry. So, that is what affects the market. This has given rise to tank farm members who have products to inflate the prices to be able to meet with the demand of the market. And they are also using this opportunity for profiteering.

“We the independent marketers we are very wary of buying high volume of petroleum products so that the prices will not crash against us.

“Once Dangote starts lifting from its gantry, prices will crash and independent petroleum marketers who bought product high during this period of time will lose a whole chunk of money.

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“So, we are advising our members not to buy chunk of products but just get some products that they can use in maintaining their filling stations.”

Dangote Refinery’s  Group Chief Branding and Communication Officer Anthony Chiejina, could not be reached last night, when this reporter sent a WhatsApp message to him to confirm whether the refinery has started selling products in dollars.

Last Thursday, the company  announced its stoppage of sale of products in naira temporarily since the Nigerian National Petroleum Company Limited (NNPCL) has halted sale of crude oil to the plant in Naira.

A technical sub-committee on crude oil sale in Naira last year announced the commencement of the sale of feedstock in the local currency to the refinery.

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The sub- committee is expected to meet with the concerned parties today in Abuja.

Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri said contract of sale of crude oil in Naira between NNPCL and Dangote Refinery was only a six-month pilot scheme.

The refinery said in statement: “We wish to inform you that, Dangote Petroleum Refinery has temporarily halted the sale of petroleum products in Naira.

“This decision is necessary to avoid a mismatch between our sales proceeds and our crude oil purchase obligations, which are currently denominated in U.S. dollars.”

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The message also stressed its plan to resume sale in naira as soon as NNPCL recommences sale of feedstock in naira to the refinery.

“As soon as we receive an allocation of Naira-denominated crude cargoes from NNPC, we will promptly resume petroleum product sales in Naira,” Dangote said in a statement.

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ARH Chairperson, Kemi Ayelabola Hails President Tinubu’s Virtues At 73*

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By Kayode Sanni-Arewa

The Chairperson and Conve­ner of Asiwaju Renewed Hope (ARH’23), Kemi Olokode-Ayelab­ola has paid glowing tributes to the President of Nigeria, National Leader of All Progressives Congress APC and former Governor of Lagos State, Senator (Asiwaju) Bola Ahmed Tinubu GCFR as he celebrate his 73rd birthday.

Olokode-Ayelabola, a resident of the Republic of Ireland who mobilised and campaigned for President Bola Tinubu during the February 2023 presidential poll is a behavioral, developmental and child/young persons care professional, in a congratulatory massage to the septuagenarian described him as a visionary and transformative president.

She said the Nigerian leader who is also the Jagaban of Borgu Kingdom, has remained a Colossus and a phenomenon in the annals of the ruling party and the nation’s political history.

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Kemi also noted that the exceptional political career and service of Tinubu, has inspired so many people and has produced many successful leaders in the country.

She continued to disclose further that the APC National Leader is an icon, bridge builder and a patriotic elder statesman who believes in the development, unity and corporate existence of Nigeria.

“Your Excellency, I feel so elated and fulfilled to join other well meaning Nigerians across the globe to felicitate with you on your 73rd birthday. You are indeed an incredible leader with a large heart who has continued to be a major player in the Nigerian politics through your broad-minded and examplary leadership style.

“So many people owe their successes to your magnanimity and accommodating nature. You are truly a legend, an astute politician with uncommon intellect. It is my prayer that your tireless commitment to addressing governance challenges, fortifying national security, and mitigating economic hardships continue to inspire vista of hope and resilience among Nigerians”, she said.

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Kemi prayed for more years in good health and wisdom for the president, to continue to serve Nigeria and humanity by extention.

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Tinubu @73: Deputy Speaker, Kalu Hails President Tinubu’s Bold Economic Reforms

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By Gloria Ikibah

The Deputy Speaker, House of Representatives, Rep. Benjamin Kalu, has congratulated President Bola Ahmed Tinubu on his 73rd birthday, praising his courageous decisions that have saved Nigeria from economic collapse.

Kalu specifically highlighted President Tinubu’s removal of the fuel subsidy, which he described as a “whited sepulchre” that had deceptively appeared economical on the surface but was, in reality, draining the country’s resources.

He emphasized that this bold move served as the crucial catalyst that jump-started Nigeria’s economy.

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The Deputy Speaker noted that the President’s courageous decision has crystalized Nigeria’s economic prospects, paving the way for sustainable growth and development.

Kalu also commended President Tinubu’s efforts to develop the geopolitical zones in Nigeria through the creation of regional development commissions.

He believes that the initiative will meet the infrastructure needs of the people and foster economic prosperity and social cohesion.

While acknowledging the current hardship in the country however, Kalu urged Nigerians to be patient, assuring that better days lie ahead as President Tinubu’s economic policies mature.

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He emphasized that Tinubu’s administration could not have come at a better time, stressing that the President is diligently working to reposition the nation for greatness.

“President Tinubu’s leadership has been a game-changer for Nigeria. His commitment to economic reforms and development is unwavering, and we are confident that his policies will yield positive results in the long run”, he said.

Wishing President Tinubu well, Kalu also prayed for many more years in good health, saying, “We celebrate not just your birthday, Mr. President, but also your tireless efforts to build a better Nigeria for all.”

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Why I Failed To Pay My Wife’s Bride Price, Man Tells Court

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By Kayode Sanni-Arewa

The president of Grade A Customary Court, Mapo, Ibadan, Oyo State, Mrs S.M Akintayo, has adjourned a divorce suit brought before it by a man, Kasali, against his wife, Ajoke, on the account of irreconcilable differences.

Kasali stated that he and Ajoke never had a traditional wedding, but that she moved into his house shortly after they met.

Kasali added that he refused to pay Ajoke’s bride price because she was no longer a virgin by the time they met

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The plaintiff insisted on divorce because according to him, no meaningful communication ever held between him and his wife.

Kasali stated that he and Ajoke did not understand each other which was the reason for their regular fight.
Kasali further stated that Ajoke was already dating another man which made it imperative that the relationship between him and her be brought to an end.

Ajoke was not in court, although she was served court summonses.

Kasali, in his evidence, said, “My wife moved into my house shortly after we met.

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“We never held any marital rites.

“I refused to pay her bride price when her parents insisted on having it because she is not a virgin.

My lord, living with my wife was an error.

“We never understood each other and hardly agreed on any issue.

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“We lived like cat and dog; shouting at each other and nagging.

“There was communication breakdown in our relationship.

I heaved a sigh of relief the day she moved out of my house.

“I came to court to end our marriage. This I believe is necessary because she has started dating another man.”

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(TRIBUNE)

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