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Petrol: Marketers fret as depot price rises to N710/litre in Lagos

Independent petroleum marketers have expressed concern over the rising price of Premium Motor Spirit, PMS, otherwise known as petrol, in private depots to N710 per litre.
With the increase, petrol pump prices at outlets operated by independent marketers also rose to between N730 and N750 per litre which has led to queues at some stations operated by major marketers and Nigerian National Petroleum Company Limited, NNPCL, where pump prices are cheaper at N610 and N568 per liter respectively.
A visit to the private depots in the Satellite and Apapa areas of Lagos showed that prices varied as the product were sold at between N701 and N735 per litre. The depots with the highest price include Bovas depot which sold petrol to independent marketers at N762 per litre followed by MRS depot with N735 per liter.
The lowest prices were at Rainoil depot at N705 per litre, Emadeb depot with N705 per litre, while depot owned by Eterna Oil and Sahara also known as Asharami depot sold at N701 per litre respectively.
One of the independent marketers who spoke on condition of anonymity stated “most major marketers own tank farms in Lagos and they buy directly from NNPC. Scarcity has eased out a bit because NNPC supply mainly to major marketers but we the independent marketers are struggling as we depend on these major marketers for products.
“The major marketers buy at NNPCL rate of N548 to N550 per litre and they sell to us at N705, the cheapest is N701 per litre. These major marketers have filling stations in Lagos and other states but in Lagos they sell in their various stations at N610 to N620 per liter.
“IPMAN stations in Lagos are struggling as we are unable to sell due to the price difference making the market highly competitive. Our people outside Lagos are the ones selling as they benefit from the high price that it’s being sold over there.
He noted “when we buy from these major marketers at N705 per liter, NUPENG will charge us per the number of liters we purchase and then we add transportation cost of N15 to our filling stations, the price at the pump will be sold at N740 to N750 per liter”
Meanwhile, in a telephone interview with Vanguard, the National President, Independent Petroleum Marketers Association of Nigeria, IPMAN, Alhaji Abubakar Migandi Garima, stated that the supply hitches witnessed in the past few weeks have eased, adding that the situation in the country has gradually improved as marketers have started lifting the products from NNPC depots.
“Some of our members have started direct purchase through NNPCL, but the allocation from them is very low and cannot sustain all our members, therefore we have to go through private deports and buy from them to augment our various stations. For our members that buy from the private deports, automatically the price will change at their stations as they sell at a higher rate compared to major marketers”.
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Nigeria Felicitates with South Africa on 31st Freedom Day Anniversary

By Gloria Ikibah
Nigeria has congratulated South Africa on the celebration of its 31st Freedom Day anniversary, marking more than three decades since the end of apartheid rule.
This was contained in a statement issued by the Ministry of Foreign Affairs, on Sunday in Abuja, the Minister, Ambassador Yusuf Maitama Tuggar, extended warm greetings to his South African counterpart, His Excellency Ronald Lamola, Minister of International Relations and Cooperation.
Ambassador Tuggar described the day as a reminder of the historic victory of democracy over apartheid and a celebration of the resilient and unified spirit that continues to shape South Africa’s journey.
“Nigeria and South Africa share a profound bond forged through decades of solidarity in the liberation struggle. As we reflect on this milestone, we recall Nigeria’s unwavering support for the anti-apartheid movement, including diplomatic, material, and moral contributions that underscored our commitment to justice and the ethos of pan-Africanism,” the statement read.
Highlighting the strong bilateral ties between the two countries, Tuggar emphasized the shared responsibility Nigeria and South Africa have in promoting peace, security, and inclusive development across the African continent.
He noted that as Africa’s two largest economies and democracies, there is a need to strengthen collaboration in areas such as trade and investment through the African Continental Free Trade Area (AfCFTA), as well as cultural exchanges and youth empowerment.
“Therefore, on this Freedom Day, we stand with South Africa in honouring the sacrifices of heroes like Walter Sisulu, Nelson Mandela, Govan Mbeki, Thabo Mbeki and recommit to working together to realize the vision of a prosperous, peaceful, and united Africa,” he added.
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Enugu Reps caucus backs concessioning of Enugu airport

The Enugu Caucus in the House of Representatives has thrown its weight behind the Federal Government’s plan to concession the Akanu Ibiam International Airport, Enugu, describing it as a potential catalyst for the Southeast economy.
The caucus commended the Federal Government for the initiative and urged it to hasten the process to enable the people of the Southeast and the nation to benefit from it in earnest.
It also called on the people of the region to support the concession as the only way to guarantee sustainable investment to fully develop the airport into a truly international facility.
News
Vatican: Conclave to elect a new pope will start on May 7

Cardinals will meet next month in a secret conclave to elect the next pope, the Vatican has said.
The closed-door meeting will start inside the Sistine Chapel on 7 May and will involve some 135 cardinals from across the world.
It follows the death of Pope Francis who died at the age of 88 on Easter Monday and whose funeral was held on Saturday.
There is no timescale as to how long it will take to elect the next pope, but the previous two conclaves, held in 2005 and 2013, lasted just two days.
Vatican spokesman Matteo Bruni said cardinals will take part in a solemn mass at St Peter’s Basilica, after which those eligible to vote will gather in the Sistine Chapel for the secretive ballot.
Once they enter the Sistine Chapel, cardinals must have no communication with the outside world until a new Pope is elected.
There is only one round of voting on the first afternoon of the conclave, but the cardinals will vote up to four times every day afterwards.
A new pope requires a two-thirds majority – and that can take time.
Each cardinal casts his vote on a simple card that says, in Latin: “I elect as Supreme Pontiff” to which they add the name of their chosen candidate.
If the conclave completes its third day without reaching a decision, the cardinals may pause for a day of prayer.
Outside the Sistine Chapel the world will be watching for the smoke from the chimney.
If the smoke is black, there will be another round of voting. White smoke signals that a new pope has been chosen.
On Saturday, politicians and royalty joined thousands of mourners as Pope Francis’ funeral was held in St Peter’s Square.
Hymns played out on giant speakers, occasionally drowned out by the sound of helicopters flying overhead, before 91-year-old Cardinal Giovanni Battista Re gave a homily on the pope’s legacy.
After a ceremony, huge crowds lined the streets of Rome to watch as the Pope’s coffin was carried in a procession to his final resting place, Santa Maria Maggiore Basilica.
Authorities said 140,000 people had lined the streets, clapping and waving as the hearse – a repurposed white popemobile – crossed the Tiber river and drove past some of Rome’s most recognisable sights: the Colosseum, the Forum and the Altare della Patria national monument on Piazza Venezia.
On Sunday images of Pope Francis’s tomb at the church were released showing a single white rose lying on the stone that bears the name he was known by during his pontificate, below a crucifix illuminated by a single spotlight.
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