News

At last, Marketers Agree to Crash Petrol Prices as Dangote Sells Fuel at Reduced Cost after Deal

Published

1 hour ago

November 16, 2024

By Kayode Sanni-Arewa

The Independent Petroleum Marketers Association of Nigeria (IPMAN) said about 30,000 of its members will start lifting petrol from the Dangote Refinery The association’s president, Abubakar Maigandi, said that the refinery agreed to sell the product at N940 and N960, respectively He said the development means that petrol prices will crash at the pumps in the coming weeks following the new deal

The Independent Petroleum Marketers Association of Nigeria (IPMAN) says over 30,000 of its members are ready to buy petrol in bulk from the Dangote Refinery. The association revealed that the petrol price from the mega refinery was about N940 per litre via ships and N990 via trucks.

IPMAN president Abubakar Maigandi disclosed in a television interview on Tuesday, November 12, 2024, that the petrol pump prices at its outlets will drop following the deal with the refinery. The association reached a deal with the $20 billion refinery on Monday, November 11, 2024, to purchase petrol, diesel, and other petroleum products directly. The agreement comes after months of negotiations following the exit of the Nigerian National Petroleum Company Limited (NNPC) as the sole off-taker of the refinery.

Petrol prices to crash by over N50 Maigandi explained that the Lekki-based facility had been obliged to let marketers buy petrol, diesel, and Kerosene to supply to their depots and retail outlets. The IPMAN boss updated Nigerians on the pricing, saying the refinery gave marketers two rates based on preferences. He said marketers can load at the gantry at N990 per litre or vial vessel transport at N940. Punch reports that the new price is lower than the N960 and N990 per litre on ships and trucks offered by the refinery last week.

The IPMAN helmsman disclosed that the partnership aims to ensure a consistent and affordable supply of petrol and other products nationwide. He stated further that petrol prices may crash by N50 or more, depending on the location.

PETROAN set up a meeting with Dangote Refinery According to Maigandi, the direct purchase of petrol from the refinery will end payments to intermediaries such as the NNPC and depot owners, saying that the cost will reflect on petrol prices in the coming weeks. The IPMAN president said the new arrangement will also end fuel scarcity as products will be available nationwide in all seasons.

Additionally, the management of the Dangote Refinery is set to meet with Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) officials to discuss petrol lifting. The group’s publicity secretary, Joseph Obele, said the refinery, through its president, Billy Harry, mailed seeking a business meeting.

Obele said Harry has inaugurated a team of seven persons to represent the association at the meeting. NNPC to now sell only Dangote petrol Legit.ng earlier reported that NNPC had announced that it stopped importing refined petroleum products. Mele Kyari, NNPC’s Group Chief Executive Officer, disclosed this while speaking at the Lagos’s Nigerian Association of Petroleum Explorationists’ (NAPE) conference and said that the company now sources its fuel needs from the Dangote Petroleum Refinery.

Kyari confirmed that NNPC has shifted away from importation and will source from local refiners, especially Dangote, according to BusinessDay reports.

Source: Legit

News

Tinubu Set To Host Indian Prime Minister, Modi Sunday In Abuja

Published

8 minutes ago

November 16, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

President Bola Tinubu will on Sunday host the Indian Prime Minister, Narendra Modi, for a State Visit at the Presidential Villa in Abuja.

The Special Adviser to the President on Information and Strategy, Bayo Onanuga, disclosed this in a statement on Saturday.

His visit to Nigeria will be the first by an Indian prime minister since Dr Manmohan Singh’s state visit in 2007 when the two nations established a strategic partnership.

The presidential spokesman said both leaders would have further talks on strengthening Nigeria and India’s ties.

“Both leaders will exchange signed Memoranda of Understanding to enhance collaboration in critical sectors,” Onanuga said.

See the full statement below:

President Tinubu To Host Indian PM In Abuja

President Bola Tinubu will welcome Indian Prime Minister Narendra Modi for a State Visit at the Presidential Villa in Abuja on Sunday.

Prime Minister Modi is scheduled to arrive on Saturday.

His visit to Nigeria will be the first by an Indian prime minister since Dr Manmohan Singh’s state visit in 2007, when the two nations established a strategic partnership.

President Tinubu and Prime Minister Modi will seek to strengthen Nigeria’s and India’s ties further during their bilateral discussions.

Both leaders will exchange signed Memoranda of Understanding (MOUs) to enhance collaboration in critical sectors.

Bayo Onanuga
Special Adviser to the President,
Information & Strategy
November 16, 2024

News

Police save abduct£d 14-month-old baby from nanny

Published

2 hours ago

November 16, 2024

Kayode Sanni-Arewa

By Kayode Sanni-Arewa

Operatives of the Edo State Police Command have successfully rescued a 14-month-old baby, Grace Osamagbe, who was abducted by her nanny, Rejoice Chukwu, in April.

Commissioner of Police Umoru Ozigi told newsmen on Saturday in Benin, that the Anti-Kidnapping and Cyber Crime Unit arrested Chukwu, 24, and her boyfriend, Destiny Uchechukwu, 28, in Uyo, Akwa-Ibom

According to Ozigi, the suspects abducted the child in Benin and collected a ransom of N160,000.

I lost my hands, girlfriend, dad’s landed properties survived depression; but I’m alive’0:00 / 0:00

“In spite of receiving the ransom, the suspects allegedly sold the baby for N500,000 to Doris Chiwendu in Owerri, Imo State.

“Following intense interrogation, police tracked down Chiwendu and another suspect, Jane Amaigbo, in Ubomiri, Imo State, and rescued the baby on November 9.”

The police commissioner explained that the suspects would soon be charged in court.

News

Ondo: Hoodlums attack INEC officials in Ogbagi Akoko, destr0y electoral materials, others

Published

3 hours ago

November 16, 2024

Naijablitznews

Some hoodlums have attacked and assaulted officials of the Independent National Electoral Commission (INEC) at Polling Unit 19, Ward 6 Ogbagi in the Akoko area of Ondo State in the ongoing governorship election in the state.

According to a video posted on social media, the Presiding Officer (PO) of the polling unit said that the attackers destroyed all the electoral materials at the polling unit, stole their phones and purses, and physically assaulted them.

The Presiding Officer, who said that the attack happened shortly after a PDP agent at the polling unit was arrested by the police for tearing votes, said that her Assistant Presiding Officer 1 (APO 1) she identified as Bello Samuel, had been missing since they were attacked.

Narrating what happened, the Presiding Officer said, “As the process of the election was going on, a party agent from PDP tore a vote without my consent. I don’t know his name because he had not indicated his name.

“I was trying to address him but he asked me to do my work. In order to resolve the matter, the Kabiyesi of the community (community leader) came but he (the PDP) agent was trying to tear another vote when the officers (police) at the polling unit called the DPO for his arrest.

“They (police) asked me what I wanted and I said he should be removed or the polling unit should be canceled. Then, he was arrested and the election continued.

“Unaware, we discovered a gang of people parking the election materials and they beat us up – I and my APOs. Even till now, I haven’t seen my APO 1, Bello Samuel by name.

“Our phones have been stolen with our purses, and all the electoral materials have been destroyed except the BVAS which I escaped with.”

She said that before the hoodlums attacked them, “I called SPO and the officers called the DPO. After that, I know nothing preserved by grace.”