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Petrol To Sell At N935 Per Litre From Today — IPMAN

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The Independent Petroleum Marketers Association of Nigeria has said that petrol is going to sell at N935 per litre beginning from Monday (today) based on the latest arrangement with the Dangote Petroleum Refinery.

IPMAN’s National President, Maigandi Garima, said the reduction in Dangote refinery’s ex-depot price for petrol and the uniform arrangement being put in place, would enable marketers to sell at N935 in their outlets nationwide, incurring a cost of N36 on logistics.

“Dangote refinery has brought another new arrangement of loading and pricing by which marketers would pay a fixed ex-depot price of N899.50k.

“The refinery is running a programme whereby it wants the fuel consumption across the country to be at the same rate. We are expecting the new arrangement to kick-start on Monday. Previously, the loading price was N970 per litre, but from Monday, petrol prices will drop to N935,” Garima stated.

The association also stated that over 30,000 of its members are set to commence petrol loading from the Dangote Petroleum Refinery and the Port Harcourt Refining Company following the reduction of the ex-depot price of the product to N899 per litre.

This came as it was observed that the pump price of petrol dropped on Sunday to between N950 and N980 per litre in a few filling stations in Lagos including MRS, BOVAS and NNPC. However, the cost was above N1,000 per litre in many other outlets in the state.

But IPMAN promised on Sunday that the price would drop further, as it said the cost of petrol would reduce to N935 per litre in more filling stations by Monday (today) in view of Dangote refinery’s new arrangement.

Similarly, retail outlet owners under the auspices of the Petroleum Products Retail Outlet Owners Association of Nigeria have begun registration with MRS filling station to lift Dangote petrol at N935 per litre.

The IPMAN National Publicity officer, Chinedu Ukadike, and the PETROAN President, Billy Gillis-Harry, disclosed these during separate interviews (with The Punch) on Sunday.

The development came after intense pricing competition in the nation’s downstream sector, which triggered a price war between NNPCL and Dangote due to a reduction in the ex-depot price to N899 per litre.

On Saturday, the NNPCL, in a surprising development, slashed petrol prices by 12 per cent, to the delight of Nigerians and marketers.

This decision, coming days after the Dangote Refinery reduced its price to N899, was confirmed by the Petroleum Products Retail Outlet Owners Association of Nigeria in a statement on Saturday.

Before now, petrol prices had consistently increased, causing customers to worry that the price hike might be sustained during the festive season.

It was earlier reported that the reduction in price to N935 in Lagos confirms projections by marketers.

Providing further updates on the preparations for product lifting, the IPMAN publicity officer stated that marketers are getting ready to start loading petrol at a reduced price, as the national oil company has updated its pricing on the purchase portal.

Ukadike also said that the competition for market share between NNPCL and Dangote is beneficial for Nigerians because, in the end, it will reveal the true cost of PMS production and the expenses incurred in logistics.

According to him, the price war is central to a deregulated oil sector.

He said, “NNPCL has changed their price at their portal. It means that everyone who has access to that portal can be able to request and pay for products. Once you pay, you will be called to the depot to pick up your products. Yes, they have changed the price on their portal.”

He continued, “For us, the reduced price remains a welcome development as that is the beauty of a deregulated sector. You know, when there are multiple sources of petroleum products, there will be production and pricing competition. That interplay of pricing has come to the centre stage, and it is now to the advantage of the commuters who wish that this petroleum product will be sold at a lesser price.

“The fight to control market share between NNPCL and Dangote is healthy for Nigerians because, at the end of the day, we would know the actual cost of PMS production and the amount spent on logistics.

“It will also help marketers in our retailing capacity and pick up more volumes. The cost today is very high, and the reduced price will help us pick more volumes. Commuters are no longer taking products the way they used to but with the price decrease, there will be heavy consumption.”

He further noted that marketers will not stick to a single supplier but patronize both refineries based on the location.

Ukadike said, “We would be picking our products from both refineries but the most important thing is the nearness to retail outlets. But Dangote arrangement is via MRS, and NNPCL is helping to load from other depots.”

Regarding a potential price reduction, the IPMAN national officer explained that marketers do not set prices; instead, the factors of demand and supply influence the price, which is why prices vary across the country.

The national officer also assured Nigerians that filling stations owned by its members will be open throughout the festive period and avoid artificial scarcity.

On his part, the PETROAN president said its members are registering with MRS filling to pick up products from its stations as the Dangote and PH refineries haven’t started product disbursement to its members.

He also stressed that a smooth product off-take starting today (Monday) will accelerate the implementation of the price reduction at retail centres nationwide.

He said, “We have not started picking up products from the Port Harcourt refinery, even from the Dangote refinery. But some of our members, out of their magnanimity, are trying to sell at a cheaper price even in Abuja.

“Dangote price mechanism brings value for PETROAN members, and we are partnering with MRS filling station to sell at N935 per litre nationwide. Our members partnering with MRS will do that. The station has opened its valves to accommodate as many members that can work with them. So from this morning (Sunday), we were already up and running on their platform to register our members. It is a wonderful thing that is coming up and we hope NNPCL will also follow suit.

“The economies of scale favour Dangote, but NNPCL is doing its best to flood the country with available products. I think a lot of good things will happen in the sector even till the new year.

“So let’s see how offtake of products will pan out across the country from tomorrow. If the demography of offtake spreads everywhere and we can compute what the logistics costs would be, it will be easy to predict what will happen. But, certainly, when refiners reduce price, and we can buy directly, we will ensure Nigerians benefit, and that is what PETROAN is doing.”

Also, on a potential price drop, the PETROAN official said, “We have mentioned severally that pricing was still going to drop, and that is the trajectory and reality of how this whole thing is going to play out. So gradually, the price will go down and then come down and vary. It’s not going to be static, and that is why I think it’s not right to do an armchair projection.”

Meanwhile, the Dangote Refinery has said it is now operating at 85 percent capacity and is on course to deliver European-standard products by January.

“We have gone up to 550,000 bpd, that is 85 per cent capacity in crude distillation,” Edwin Devakumar, head of the refinery, said in an interview with CNBC Africa.

The 650,000-bpd Dangote oil refinery built by Nigerian billionaire Aliko Dangote in Lagos aims to compete with European refiners when operating at full capacity but has been struggling to secure sufficient crude locally.

BIG STORY

Rejoinder To Daily Trust Article: President Tinubu Positioned For Victory In 2027 — By Prince Adeyemi Shonibare

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President Tinubu is well-positioned to secure victory in the 2027 elections. His achievements, leadership experience, and the significant strides made across key sectors of governance solidify his place as the frontrunner.

  • Key Achievements and Factors for Victory

1. Direct Funding to Local Governments:

For the first time in Nigeria’s history, the 774 local government chairmen will receive funds directly from the federal government starting this month. This bold move decentralizes resources, empowers grassroots development, and strengthens loyalty to the man who initiated this transformative policy—President Tinubu.

2. Empowering Citizens:

President Tinubu’s administration has rolled out impactful programs, including student loans, consumer credit initiatives, and direct cash transfers. These initiatives have touched millions of lives and earned him unwavering support from beneficiaries who recognise the positive impact of these policies.

3. Political Dominance:

APC remains the most dominant political party in Nigeria, controlling more states than any opposition party. APC governors will rally behind Tinubu in 2027, leveraging the party’s expansive structure to consolidate support.

4. Regional Strength:

South West:

President Tinubu will sweep all six South West states. APC currently controls four states, and Tinubu’s win in Oyo during the 2023 elections further demonstrates his stronghold. By 2027, even Osun, which narrowly escaped APC control, will fall back in line.

South-South:

Tinubu will likely secure Cross River, Rivers, Edo, and Delta while achieving the required 25% in other states. APC’s current control of Edo and Cross River further reinforces this projection.

South East:

The establishment of the South East Development Commission has endeared Tinubu to the region. He is expected to win Enugu, Imo, and Ebonyi while securing 25% in Anambra and Abia. APC governs Imo and Ebonyi, and with strategic campaigning, Anambra might surprise everyone in 2027.

North West & North East:

These regions remain APC’s strongholds, and Tinubu’s track record ensures that they will deliver the necessary states.

North Central:

States like Abuja, Kogi, Nasarawa, and Plateau are expected to align with Tinubu, given his strong rapport and ongoing development efforts in the region.

5. Resilience and Leadership Experience:

Tinubu’s journey from private sector success to public service is unparalleled. He served as a lawmaker, a transformative governor, and now a results-driven president. His international experience in oil, gas, and finance, coupled with his fearless leadership style, makes him a standout leader. Tinubu is the only president in Nigeria’s history to take bold steps like subsidy removal and exchange rate unification, laying the foundation for long-term prosperity

6. Economic Reforms and Policies:

Tinubu’s tax reforms exempt minimum wage earners and small businesses (earning less than ₦25 million annually) from federal taxes. By 2027, Nigeria will become a major exporter of refined petroleum products, with all four refineries operational.

The federal government’s agriculture policies, in collaboration with states, will yield significant results.

Security will improve, potentially with the full implementation of state policing.

Electricity management, now involving states, will lead to a more reliable power supply.

Mass transportation systems, including local, state, and federal rail services, will transform mobility.

With growing FDI, increased earnings from oil and gas, and direct investments, Nigeria will witness unprecedented progress under Tinubu’s leadership.

7. Broad-Based Support:

Tinubu’s influence transcends party lines, garnering support from private enterprises, public institutions, and even opposition leaders. Some PDP governors from the East may align with Tinubu’s vision in 2027, recognizing his ability to unify and deliver results.

8. Legacy of Leadership:

Tinubu’s record of governance in Lagos—one of Africa’s largest economies—is unmatched. When he assumed office in 1999, Lagos generated ₦400 million monthly against expenses of over ₦600 million. By the end of his tenure, Lagos’ monthly IGR had risen to ₦8 billion. This same transformational leadership is now evident at the federal level, with Nigeria’s reserves growing and states receiving triple their previous allocations.

Under Tinubu, local governments will receive significant funds. If each of the 774 local governments spends ₦2 billion monthly, the ripple effect will transform communities and improve lives nationwide. Without constitutional reforms, Tinubu is restructuring Nigeria by empowering states and local governments while maintaining harmony with governors, legislators, and the judiciary.

9. Strategic Reallocation of Subsidy Funds:

Funds from subsidy removal on petrol and exchange rates are now being redistributed across federal, state, and local governments. The judicious use of these funds will catalyse development, creating visible progress that further cements Tinubu’s leadership legacy.

10. A Leader for the Future

By 2027, Tinubu’s achievements will speak louder than promises. Nigeria will see improved security, stable electricity, a revitalized economy, and a robust transportation system. His reforms will deliver real, measurable results, leaving opponents to merely speculate on what they could do better.

If God grants him life and strength, and he chooses to contest in 2027, President Tinubu’s re-election will not just be a possibility—it will be a certainty. His vision, achievements, and widespread support make his victory inevitable.

 

By Prince Adeyemi Shonibare .

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BIG STORY

JUST IN: Fuji Icon K1 Loses 105-Yr-Old Mother Days After Wife’s Death

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Nigerian Fuji legend, Wasiu Ayinde, popularly known as “K1 de Ultimate,” is in mourning following the death of his mother, “Halimotu Anifowoshe,” just days after the passing of his former wife, “Hafsat,” at the age of 65.

It was gathered that the mother of the music icon was declared dead by medical professionals in her hometown, “Ijebu Ode,” Ogun State, where she resided.

A family source revealed that the centenarian passed away in the early hours of Saturday, causing the entire community of “Ijebu Ode” to mourn her loss.

It was further gathered that the deceased would be buried in accordance with Islamic rites later that day in her hometown.

According to a source, the Fuji musician has been deeply affected by his mother’s death, as they shared a close bond. He often praised her during his stage performances.

The centenarian’s death followed the artist’s earlier revelation that he inherited his musical talent from his mother, who, despite her own potential, was not permitted to pursue a career in music.

He explained that his mother was the daughter of a king, and her parents did not allow her to sing because they wanted her to marry.

K1 added that his mother was highly talented, but her parents feared that her career in music would delay her marriage.

“I was blessed with the gift of music from a young age, I was born into music. My mother was a singer before she got married. She had the gift of music and she was a princess.”

“She was not allowed to sing back then because she was a princess, and her parents were worried that allowing her to be a musician would delay her from getting married sooner. Her parents said my mother won’t be allowed to sing because she is the daughter of a king.”

It should be noted that the singer’s former wife, “Hafsat,” passed away after battling an undisclosed illness and was buried following Islamic traditions at “Abari Cemetery,” Lagos State.

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Nigerians Recruited As UK Prison Officers Sleep In Cars, Camp Near Jails

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The United Kingdom’s prison service has started recruiting prison officers from Nigeria and other countries to address staffing shortages.

However, many of these new recruits, including Nigerians, are facing accommodation difficulties, with some resorting to sleeping in their cars or camping near prisons to save on housing costs, according to a report by The Telegraph on Thursday.

This is the first time the UK prison service is sponsoring skilled worker visas for international recruits, following a rule change in 2023 that added prison officers to the list of eligible professions.

Many of the new recruits are Nigerians, including some who transitioned from other visa routes to the prison service.

The Prison Officers Association (POA) has reported cases of Nigerian recruits arriving at UK prisons under the assumption that accommodation would be provided.

Mark Fairhurst, the president of the POA, shared an example of a recruit who commuted 70 miles daily from Huddersfield to Nottingham, eventually deciding it was cheaper to sleep in his car outside the prison.

At another location, some officers set up a camp in a wooded area near the prison after learning they would need to arrange their own housing.

“We have got problems with people who turn up at the gates with cases in tow and with their families saying to the staff: ‘Where is the accommodation?’,” Fairhurst stated.

Sources from the Ministry of Justice in the UK indicate that approximately 250 foreign nationals have been recruited into the UK prison service after Zoom interviews and vetting.

In 2023, a significant portion of the 3,500 monthly applicants were from Africa.

Tom Wheatley, the president of the Prison Governors Association, attributed the influx to word-of-mouth promotion by Nigerians already working in the UK.

“It’s turned into an approach that has been promoted online by the expat Nigerian community,” Wheatley noted.

However, he acknowledged challenges, including language barriers and the difficulty of integrating foreign recruits into rural communities.

Despite these challenges, the UK prison service insists its recruitment and training processes are thorough.

A spokesperson for the Prison Service told The Telegraph, “all staff – regardless of nationality – undergo robust assessments and training before they work in prisons. Our strengthened vetting process roots out those who fall below our high standards.”

The reliance on virtual interviews has also raised concerns, with some questioning the suitability of officers recruited this way.

Fairhurst has called on the prison service to return to face-to-face interviews, stating that six weeks of training is insufficient for recruits to manage prisoners effectively.

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