News
Fuel prices reduce as NNPC opens portal for direct supply to marketers
By Mario Deepromoter
The pump price of fuel has reduced from N1300.00 and N1350.00 to between N1200.00 and N1150.00 in Abia, following the Nigeria National Petroleum Company opening its portal for direct requests and payments for fuel from members of the Independent Petroleum Marketers Association of Nigeria.
The fuel situation monitored in Abia indicates that some petroleum marketers in Aba and Umuahia have started lifting fuel directly from the NNPC, thereby making the price of the product come down.
In an interview on Monday, the Executive Chairman of the IPMAN Aba branch, Mazi Oliver Okolo, explained the reason for the reduction in price, stating, “The supply flow from the NNPC has improved and we believe that it will go down further.
“As at last Saturday, NNPC opened their portal for us to request, which we have requested and also paid. We are believing that by next week, they (NNPC) will start supplying and as soon as they start supplying, the prices of the products will go further low”.
“It is about supply and distribution chain which is direct from NNPC. Again, the only way to reduce the price of fuel to the barest minimum is when the hinterland depots like Aba start working.”
According to him, the NNPC, the state government and the federal government can join hands with IPMAN and get the products to the Aba depot, whether imported or refined at the Port Harcourt refinery.
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He added, “I can assure you that fuel will be sold at about N900.00 and below N1000.00 (per litre).
“Once PMS (fuel) is supplied to us directly from NNPC, I can assure you the product will be sold at a reasonable price with a reasonable margin.
“Again, we are also appealing to the state government, NNPC and the federal government to see how they can bring the products to Aba depot, and also fix the road going to the depot.
“If you factor in all these, you will see that the product will not only be available but will also be affordable.”
Okolo regretted that part of the challenges IPMAN members are facing is that the capital base of most of the marketers have gone low with the high cost of sourcing fuel through third parties.
He thanked the state governor, Alex Otti, for awarding the contract for the rehabilitation of the Osisioma-NNPC-Ekeakpara road, adding that is a federal government road.
By Kayode Sanni-Arewa
The Independent National Electoral Commission (INEC) has fixed the date for the Anambra governorship election.
Addressing representatives of political parties at the INEC headquarters in Abuja on Thursday, October 17, INEC national chairman, Prof Mahmood Yakubu said the election will be held on Saturday 8th November 2025.
Hear him: “As you are aware, the last governorship election in Anambra State was held on 6th November 2021. By the effluxion of time, the governorship election is due next year.
In compliance with the mandatory requirement of 360 days, the formal notice for the election will be published on 13th November 2024. Party primaries will be held from 20th March 2025 to 10th April 2025.
“The candidate nomination portal will open at 9.00 am on 18th April 2025 and close at 6.00 pm on 12th May 2025. The final list of candidates will be published on 9th June 2025.
“Campaign in public by political parties will commence on 11th June 2025 and end at midnight of Thursday 6th November 2025. Voting will take place in all the 5,720 Polling Units across the State on Saturday 8th November 2025.
In compliance with the mandatory requirement of 360 days, the formal notice for the election will be published on 13th November 2024. Party primaries will be held from 20th March 2025 to 10th April 2025.
“The candidate nomination portal will open at 9.00 am on 18th April 2025 and close at 6.00 pm on 12th May 2025. The final list of candidates will be published on 9th June 2025.
“Campaign in public by political parties will commence on 11th June 2025 and end at midnight of Thursday 6th November 2025. Voting will take place in all the 5,720 Polling Units across the State on Saturday 8th November 2025.
The candidate nomination portal will open at 9.00 am on 18th April 2025 and close at 6.00 pm on 12th May 2025. The final list of candidates will be published on 9th June 2025.
“Campaign in public by political parties will commence on 11th June 2025 and end at midnight of Thursday 6th November 2025. Voting will take place in all the 5,720 Polling Units across the State on Saturday 8th November 2025.
“In the coming weeks, the Commission will provide details of other electoral activities, including the registration of new voters, transfer of voters and the replacement of lost or damaged PVCs.
“The detailed Timetable and Schedule of Activities for the 2025 Anambra State Governorship election will be uploaded to our website and social media platforms before the end of this meeting.”
News
Despite heavy hunger, World Bank Tells Nigerians Not To Oppose, Reverse Tinubu’s Economic Reforms
By Kayode Sanni-Arewa
Despite hunger, World Bank has urged Nigerians to support the ongoing economic reforms, warning that opposing or reversing them could have serious negative consequences for the country.
Speaking at the launch of the Nigeria Development Update (NDU) report in Abuja, the World Bank Country Director for Nigeria, Dr. Ndiame Diop, emphasized that while the reforms may be challenging, they are crucial for the nation’s long-term stability.
Dr. Diop cautioned that rolling back these reforms would be detrimental, saying, “Reversing the reforms would spell doom for Nigeria.”
In the same vein, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, reiterated the importance of staying committed to the reforms. He stated, “Any effort that is not sustained will be a waste. Together with the Governor of the Central Bank of Nigeria and the Minister of Budget and National Planning, we’ve been discussing how to stay on course.”
Edun further explained that the government’s focus is on reducing inflation while ensuring investments flow into critical sectors such as industry, where jobs can be created. “We are prioritizing market pricing and sat down with labor unions to explain why we cannot afford to let this opportunity slip.”
On the removal of subsidies, Edun noted, “Every day without subsidies means more funds available for education, healthcare, and other essential expenditures.”
Also speaking, Central Bank Governor Mr. Olayemi Cardoso highlighted the importance of promoting exports in light of the exchange rate adjustments. “The moderation in the FX rate should make our goods more competitive for export and discourage the importation of unnecessary goods,” he said
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