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BUSINESS: Marketers Register With Dangote Refinery Ahead Of Product Loading

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Petroleum marketers have begun registering with the Dangote Petrochemical Refinery prior to loading the product, as Nigerians anticipate premium motor spirit from the refinery this month.

The marketers are applying to receive direct fuel supply from the oil refinery by registering as individual business owners.

The Independent Petroleum Marketers Association of Nigeria, which represents its members who might not be able to purchase a significant amount of petrol from the refinery, announced that it would carry on negotiations with the company in order to secure bulk supply.

Aliko Dangote, the president of the Dangote Group, announced last month that his refinery would stop importing petrol into Nigeria and that the company would start selling PMS in June.

At the recent Africa CEO Forum Annual Summit in Kigali, Rwanda, Dangote gave a speech in which he expressed optimism about the continent’s energy landscape changing.

“Right now, Nigeria has no cause to import anything apart from gasoline and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” he declared

“We have enough gasoline to give to at least the entire West Africa, diesel to give to West Africa and Central Africa. We have enough aviation fuel to give to the entire continent and also export some to Brazil and Mexico.”

“We have started producing jet fuel, we are producing diesel, and by next month, we’ll be producing gasoline. What that will do, it will be able to take most African crude,” Dangote told the panel.

The words of Dangote appeared to have come as a soothing balm to marketers who have not been able to import fuel for a long time.

To independent marketers, the news is heart-warming because they have hitherto depended on third parties to get petrol at a higher cost for their filling stations scattered across the country.

When he was speaking with our correspondent in May, the National Vice President of IPMAN, Hammed Fashola, expressed happiness, saying “the Dangote refinery can satisfy our needs as far as petroleum products are concerned, especially petrol”.

The IPMAN leader expressed the eagerness of marketers to start lifting fuel from the refinery, saying, “We are all waiting, we are eager for the commencement of the lifting on petroleum products from Dangote refinery, especially petrol”.

The marketer stressed that the private refinery would put an end to fuel scarcity in Nigeria as the product would no longer be imported.

Meanwhile, Fashola explained that IPMAN as a body is yet to have an agreement with the Dangote refinery on the supply of premium motor spirit, calling on the company to consider working directly with the association instead of individuals.

He noted that IPMAN should be a beautiful bride before Dangote for being in control of over 80 per cent of the filling stations in Nigeria.

Fashola said plans had been concluded to meet Dangote for discussions on possible price cuts. He told The PUNCH that they would meet with Dangote to negotiate a discount through bulk purchases.

The IPMAN leader said, “We have our letter with them, we are expecting their response, and we will surely do a follow-up. The letter was sent about a month ago and we are going to follow up. We are just like a ready-made market for Dangote. It is an advantage for him to have us in his programme. I believe that he would like to have us.”

He added that the association would request a discount during the meeting with Dangote.“You know when you come together as a group, you have that negotiating power on your strength. There is no way we will not negotiate for a discount. That is why we don’t encourage individual company participation,” he stated.

While it appears the proposed meeting with Dangote has yet to materialise, Fashola informed our correspondent on Sunday that individual marketers are already applying for the product.

Asked if IPMAN had met with Dangote, he replied, “No, but we have started registering individually with the company.”

Replying to whether the marketers were no longer interested in meeting the company’s president, he said, “Discussion is still going on it.”

Contacted, the Executive Secretary of the Major Energies Marketers Association of Nigeria, Clement Isong, said he would not know whether or not members of the association were already registering with Dangote.

“I have to ask, I am not sure. I don’t know. I don’t have any information,” Isong tersely retorted.

There are speculations that the refinery might choose to sell its petrol through a major marketer.

The company is currently selling its diesel through MRS, one of the energy firms making up MEMAN.

“I can confirm to you that Dangote Petroleum Refinery has entered a strategic partnership with MRS oil and gas stations to ensure that consumers get to buy fuel at affordable prices in all their stations, be it Lagos or Maiduguri,” the company’s spokesperson, Anthony Chiejina, said in April.

When the Dangote refinery announced the commencement of operations in January, the Executive Secretary of MEMAN, Isong, said that its members had registered with the refinery.

“We have all registered with Dangote so that we can buy and sell. All my members are registered with Dangote. Whenever the product is ready and starts coming out, you will see it in our filling stations.

“I confirm that my members have registered with them. We were waiting for the production to start and now it has started and they will start discussing the commercial terms.

“So now, the commercial terms will be agreed with each marketer and then they will buy from them,” Isong stated.

In January, the Dabgote Group, owners of the 650,000 barrels per day capacity refinery confirmed the registration of oil marketers as its distributors, stating, “Three prominent associations, that constitute 75 per cent of the total market in Nigeria have been registered. The Depot and Petroleum Products Marketers Association of Nigeria, the Independent Petroleum Marketers Association of Nigeria, and the Major Energies Marketers Association of Nigeria.”

Meanwhile, Nigerians are eagerly waiting to start having the Dangote petrol in circulation, hoping that it would crash the current pump price of the fuel which the masses majorly depend on for transportation and individual power generation.

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St. Ives Hospital Opens Ultra-Modern FESTAC Branch [PHOTOS]

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One of Nigeria’s fastest growing hospital groups and renowned fertility experts, St. Ives hospital has opened a new, ultra-modern branch at FESTAC, Lagos. The new hospital branch was declared open on Sunday, July 1, 2024 by the Group Medical Director of the hospital, Dr. Babatunde Okewale. Also in attendant at the event were members of the hospital’s advisory board which included Mr. Adesegun Ajibola, SAN, Mrs. Bisi Adeyemi and Mr. Gbenga Badejo and medical directors and staff from its other branches.

The newly opened branch at FESTAC brings the number of the hospital to 5, with the other locations being Ikoyi, Ikeja, Akowonjo and Abeokuta. Facilities at the 45-bed hospital includes a children’s play area, which has become one of the signatures of all its branches, family convenience room, nursing stations, delivery suite, pharmacy, neonatal unit, theatre, X-Ray room, radio diagnostic, fertility unit, IVF/ ART unit, andrology laboratory, IVF theatre, and an emergency/ observation room.

In her welcome address at the event, the hospital’s Chief Marketing Officer, Mrs. Kiki Okewale disclosed that the hospital’s mission has always been to offer dedicated consultant-led, technology-driven healthcare services to women, children, family and fertility in a friendly environment. In her words, ‘over the years, we have built a reputation for being a trusted healthcare provider, and our new FESTAC branch is a testament to our commitment to expanding our reach and enhancing the quality of care we provide’.

Reputed as one of the hospitals championing reversal of medical tourism in Nigeria, due to the outstanding success rate in IVF, St. Ives with the new, state of the art, ultra-modern branch at FESTAC will further push the frontier of the medical profession through the use of advanced technology, in delivering qualitative healthcare services to their patients. St. Ives hospital adopts a success oriented-approach towards fertility, which has seen it become the go to hospital for families facing the challenges of conception.

St. Ives Hospital is a multi-specialist hospital that began operation in 1996. The hospital offers dedicated specialist services in all matters of women, children and family/fertility healthcare. The hospital is well managed by a dedicated team of specialists and consultants with years of experience in the medical profession. They provide a wide range of specialist services in OBGYN, Pediatrics, medicine and surgery.

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MOHBAD: Late Singer’s Family Conducts Fresh Autopsy

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The family of late singer Mohbad (born Ilerioluwa Oladimeji Aloba) has ordered a second toxicology test to uncover the truth behind his mysterious death on September 12.

Following his burial the next day, Mohbad’s body was exhumed on September 21 for an autopsy, which was conducted on the same day.

However, in May, it was revealed that the pathologist conducting the autopsy informed the coroner that Mohbad’s body had decomposed by the time the test was performed, potentially compromising the results.

The new toxicology test aims to provide clarity on the circumstances surrounding his death.

The pathologist also said the cause of the singer’s death could not be ascertained.

Mohbad’s autopsy result from the Lagos State University Teaching Hospital (LASUTH) showed that “no significant gross finding” could be attributed to the singer’s death.

The toxicology “revealed the positive finding of Diphenhydramine, an anti-histamine; however, this concentration was not in a fatal or lethal range”.

Last month, the Aloba family rejected the autopsy result while also demanding an independent post-mortem and toxicology test.

In a statement on Tuesday, Monisola Odumosu, a member of Aloba’s legal team, said a two-part autopsy is being conducted on Mohbad.

She disclosed that the first phase had been carried out last week while the second part involved “a toxicology and histology test”.

The lawyer added that the procedure was witnessed by Joseph Aloba, Mohbad’s father, and a pathologist representing Wunmi, the late singer’s wife.

“The second autopsy as requested by the Aloba family and ordered by the Magistrate of the Coroner Court, Ms. T.A. Shotobi, was conducted on Friday, July 19, and Saturday, July 20, 2024. This autopsy is a two-part exercise, with the first part now completed,” the statement reads in part.

“If the cause of death cannot be determined from this initial examination, the second part will proceed, involving a toxicology and histology test on the necessary samples already obtained.

“This comprehensive procedure, conducted last Friday, was witnessed only by Mr. Joseph Aloba, the forensic pathologist appointed by Mr. Joseph Aloba and his team, legal representatives of both Mr. Joseph Aloba and  a pathologist appointed by Wunmi Aloba to observe the procedure.”

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Nigeria’s Foreign Reserves Now $37bn, Up By $2bn In 18 Days — CBN Governor Cardoso

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The country’s foreign exchange reserves have surged to $37.05 billion as of July 18 according to the Central Bank of Nigeria (CBN).

CBN Governor Yemi Cardoso announced this development during a press briefing on Tuesday, following the 296th Monetary Policy Committee (MPC) meeting in Abuja.

The reserves experienced a significant boost, rising by $2.35 billion from $34.70 billion at the end of June to $37.05 billion in just 18 days.

“As of July 18, 2024, external reserves stood at US$37.05 billion, compared with US$34.70 billion as of June 2024. This represents 11 months of import cover for goods and services,” Cardoso said.

However, according to data published by CBN and seen by TheCable, Nigeria’s foreign reserves stood between $35.93 billion as of July 18, and $36.23 billion as of July 22, less than what Cardoso presented.

On July 18, CBN approved the sale of foreign exchange (FX) to eligible bureau de change (BDC) operators at N1,450 per dollar to meet the demand for invisible transactions.

Days after, CBN said foreign currencies worth $106.5 million were sold to authorised dealers.

CBN said the aim is to improve supply in the FX market in tandem with its price stability mandate.

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