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Marketers to Crash Petrol Price through importation
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By Kayode Sanni-Arewa
Petroleum marketers in the country say there is no going back in their plan to import fuel from outside the country to crash the price of the product.
The Independent Petroleum Marketers Association of Nigeria and the Petroleum Products Retail Outlets Owners Association of Nigeria last week insisted on fuel importation after accusing the Dangote refinery of selling fuel to Nigerians at an exorbitant price.
The marketers are now awaiting approvals from the Central Bank of Nigeria (CBN) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to facilitate these imports, which they argue would offer relief to consumers facing financial strain following the removal of fuel subsidies.
To proceed with the imports, the marketers have requested access to foreign exchange from the CBN and regulatory permits from NMDPRA to ensure compliance with quality and standards for the fuel they plan to bring into the country.
However, the NMDPRA has denied claims that it has granted IPMAN and PETROAN permission to import petrol as associations. According to an NMDPRA official, who spoke on condition of anonymity, only individual marketers—not associations—can apply for import licenses. The source emphasized that individual applications are mandated by law.
“The truth of the matter is that they can’t apply for petrol import license as a body or association. Individual marketers have to apply by themselves before they can be granted that license. They have to apply by themselves. We are not going to give the permit jointly so they can’t apply as an association,” the source said.
Responding to the development, PETROAN’s National Public Relations Officer, Dr. Joseph Obele, disclosed that the association had applied for an import license about a month ago through its newly established trading wing. He described Dangote as an “aggressive competitor” with intentions to dominate the market.
“You should know that Dangote is just out to close all the doors and windows so that no person enters the market. He is determined to ensure that nobody enters the market as a competitor. We assure Nigerians that as soon as the regulatory agency approves our authority to import, this price of PMS that is causing pain to Nigerians right now will crash to the barest minimum,” Obele stated.
Dr. Obele further argued that the product PETROAN aims to import would be of high quality, potentially surpassing the standards of the Dangote refinery. He urged Nigerians to support efforts to dismantle market monopolies.
“We call on Nigerians to support the call for dismantling monopolies so that we can liberate the market; otherwise, we will remain in the trap we are. We are trapped at the moment; we are trapped with exploitation, and the only way out of the trap is to dismantle every dimension of monopoly and we are calling on Nigerians to support us,” he said.
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Ramadan: Speaker Abbas Urges Muslims To Pray For Peace, Prosperity of Nigeria
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Just in: Ramadan begins today -Sultan declares
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Fasting in the month of Ramadan, which is the ninth of the 12 Islamic calendar year, begins today, Saturday March 1, 2025, the Sultan of Sokoto and Leader of Muslim Ummah of Nigeria, Alhaji Muhammad Sa’ad Abubakar, declared on Friday.
The Sultan explained that his declaration followed verified and authenticated reports from various Muslim leaders across the country, which he said had been accepted.
The Sultan said: “Today, Friday, 28th February, 2025, brings us to the end of Sha’ban. Reports of positive sighting of the new crescent of Ramadan were brought to us by various leaders across the country. We have verified and have authenticated such reports and have duly accepted such reports.
“Therefore, tomorrow, 1st March, 2025, makes it 1st Ramadan 1446 After Hijrah,” the Sultan said.
He, therefore, called on Muslims in the country to commence the fasting while also urging them to pray for leaders to enable them to lead the nation and its people well.
He seized the opportunity of the announcement to enjoin well-to-do Muslims to reach out and give to the less privileged or needy during the period.
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NAFDAC paints popular Indian company black over alleged sale of harmful
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The National Agency for Food and Drug Administration and Control (NAFDAC) says it has blacklisted Aveo Pharmaceuticals Pt Limited, an Indian company, over the illegal production and exportation of dangerous opioid combinations into West Africa, including Nigeria.
Opioids are a class of drugs that work in the brain to produce a variety of effects, including pain relief.
Opioid drugs include prescription pain medicine and illegal drugs.
In a statement on Friday, NAFDAC said investigations revealed that the company, managed by Vinod Sharma on the outskirts of Mumbai in India, is responsible for manufacturing and distributing Tafrodol and Royal 225 drugs containing a harmful mix of tapentadol and carisoprodol.
Tapentadol is a powerful opioid, and carisoprodol is a banned muscle relaxant.
The agency said the substances pose severe health risks such as respiratory failure, seizures, overdose, and death to users.
“A BBC World Service investigation exposed how packets of these drugs, branded with the Aveo Pharmaceuticals logo, have been found on the streets of Nigeria, Ghana, and Côte d’Ivoire,” the statement reads.
“Further evidence confirmed that Aveo Pharmaceuticals is also involved in the illegal exportation of high-dose tramadol above 100 mg, a strength not registered or approved by NAFDAC.
“Undercover footage captured Vinod Sharma admitting to the mass distribution of these opioids for abuse as street drugs across West Africa.
“Given the severity of these findings, NAFDAC has taken decisive action to blacklist Aveo Pharmaceuticals and block any future registration of its products in Nigeria.”
NAFDAC said it is committed to protecting public health by enforcing international best practices in pharmaceutical regulation, including stringent product registration, good manufacturing practice (GMP) inspections, post-marketing surveillance, and pre-shipment inspections for high-risk imports.
The agency said it has intensified enforcement operations against illicit pharmaceuticals in major drug distribution hubs across the country.
NAFDAC urged the public to avoid unregistered medicines and only use prescription drugs dispensed by licensed healthcare professionals.
“With continued vigilance and public support, NAFDAC will persist in its fight against the circulation of fake, substandard, and dangerous pharmaceuticals in Nigeria,” the agency said.
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