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Three Major Oil Marketers To Import 141m-Litres Petrol

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Three major oil marketers are expecting ships carrying imported Premium Motor Spirit, also known as petrol, to arrive in Nigeria this week.

This is according to information gathered on Tuesday, assuming there are no unexpected problems.

Dealers stated that approximately 141 million liters of PMS are being transported to Nigeria by these ships. This follows the complete deregulation of the downstream oil sector by the Federal Government.

They also mentioned that the recent increase in the pump prices of petrol produced by the Dangote Petroleum Refinery and released by the Nigerian National Petroleum Company Limited on Monday has created space for PMS imports.

This announcement comes as the Nigerian Midstream and Downstream Petroleum Regulatory Authority declared that all imported PMS will undergo at least three major tests by the agency before being allowed for sale nationwide.

On Monday, NNPC announced that it would sell the petrol lifted from the Dangote refinery at a price above N1,000/litre in the far north.

Its spokesperson, Olufemi Soneye, disclosed in a statement titled, ‘NNPC Ltd Releases Estimated Pump Prices of PMS from Dangote Refinery Based on September 2024 Pricing’.

Soneye explained that the price may go for as high as N1,019/litre in Borno State and N999.22 in Abuja, Sokoto, Kano, and others.

In Oyo, Rivers, and other areas in the South, it will be N960/litre. The lowest price, according to an infographic released by the NNPC, is N950 in Lagos and its environs.

Reacting to this on Tuesday, a major marketer confirmed that the deregulation of the downstream sector had fully set in, stressing that three dealers are expecting their products (PMS) this week.

The marketer, who spoke to our correspondent in confidence due to lack of authorisation to speak on the matter, stated that each vessel would bring in about 35,000 metric tonnes of PMS.

This means the three dealers are expecting about 105,000 metric tonnes of PMS this week, all things being equal.

Going by the conversion rate of 1,341 litres to one metric tonne, it, therefore, implies that the marketers are bringing in about 141 million litres of petrol.

“Most marketers often import three parcels for this kind of transaction and the lowest parcel is about 35,000 metric tonnes of PMS. Now, because of how the business is run, you see marketers bringing in between two and three parcels.

“This week, we expect about three marketers to bring in products. However, some of these imports are not cast in stone, in the sense that the influence of many regulatory authorities is still there. So it is not that you will just go and bring in products and you then start to sell them.

“The regulators, such as the NMDPRA, have to look at the quality, flash points and so many other things that should be taken into consideration before the product comes in. And when it lands, they will take samples and check them in their labs,” the marketer stated.

On whether the three parcels of each of the marketers would land this week, the dealer replied, “All of them are not going to bring in the three parcels at the same time. They bring in a parcel first and later, say in one week time or so, another parcel comes in. All these imports have storage implications.

“It is not something you do in a day. You can’t bring in one vessel today (Tuesday) and you bring in another one on Saturday. No, it is not done like that. This is not the importation of 20,000 or 30,000 litres of PMS.”

When contacted, the spokesperson of the NMDPRA, George Ene-Ita, said marketers with approved import licenses were free to import PMS, but stressed that the products must be subjected to three major tests by the agency.

“The products must be subjected to our testing protocols at the ports. The products must conform to stipulated standards before we give them the authorisation to offload to their terminals.

“Also, before the smaller vessels bring it further inland to Nigeria our people will fly to the place to see the product and carryout some tests to ensure the right specification is upheld.

“Tests are also done at the products’ origins. And when the products come in, before they are released to the market, further tests would be conducted to ensure that they meet the specifications,” he stated.

BIG STORY

Police Eliminate Four ‘Kidnappers’, Recover N3m Ransom In Kebbi

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The Kebbi police command has reported that its operatives killed four suspected kidnappers and rescued a victim in Suru LGA of the state.

According to a statement issued on Saturday, Nafi’u Abubakar, the command spokesperson, confirmed that the police also seized N3 million in ransom.

“On Feb. 14, at about 1:45pm; armed men suspected to be kidnappers invaded Gobiraje Village in Suru Local Government Area of Kebbi and kidnapped one Umaru Bawa, 60,” the statement reads.

“Upon receiving the report, the Divisional Police Officer, Suru, swiftly mobilized a team of policemen and vigilantes to the scene, traced the suspects to Tundafari forest in Dakingari axis, and engaged them in a gun battle.

“Consequently, four of the kidnappers were neutralised, one arrested with fatal injuries, while others escaped into the forest with gunshot wounds.”

The spokesperson also mentioned that Bello Sani, the Kebbi police commissioner, praised the officers’ determination and professionalism in Suru, assuring that the fight against state crimes would continue.

The police commissioner urged residents to stay vigilant and report any suspicious activities to the nearest police station without delay.

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BIG STORY

Jay-Z, Diddy’s Accuser Drops Sexual Assault Lawsuit

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A woman who had accused hip-hop icons Sean “Diddy” Combs and Jay-Z of sexually assaulting her when she was 13 decided to drop her civil lawsuit on Friday, according to court records.

In December, Jay-Z — whose real name is Shawn Carter — was accused of raping the girl along with Combs at a party after the MTV Video Music Awards in September 2000.

A document filed with the US District Court for the Southern District of New York stated that the accuser “hereby gives notice that the above-captioned action is voluntarily dismissed, with prejudice” — indicating that the lawsuit cannot be refiled.

It was not immediately clear if the stars had reached a settlement with the woman, who has not been identified.

But 55-year-old billionaire Jay-Z welcomed the closure of the case, which he slammed as “frivolous, fictitious and appalling.”

“This civil suit was without merit and never going anywhere. The fictional tale they created was laughable, if not for the seriousness of the claims,” he said in a statement.

“I would not wish this experience on anyone. The trauma that my wife, my children, loved ones and I have endured can never be dismissed.”

The complaint said Combs and Carter — who is married to pop superstar Beyonce — took turns assaulting the plaintiff as another celebrity stood by and watched.

“Many others were present at the after party, but did nothing to stop the assault,” it went on.

“Carter has been with Combs during many such instances described herein. Both perpetrators must face justice.”

Combs, also 55, has separately been charged with sex trafficking and racketeering.

“Federal prosecutors allege that he sexually abused women and coerced them into drug-fueled sex parties using threats and violence.

He has denied all charges, and his criminal trial is currently slated to begin on May 5.

 

Credit: AFP

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BIG STORY

First Lady Oluremi Tinubu Calls For Innovative Health Financing In Africa, Says “Foreign Aid Unsustainable”

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Oluremi Tinubu, the First Lady, has stated that Africa needs to develop creative financing strategies tailored to its distinct challenges in order to build a strong healthcare system.

A statement released on Friday by Busola Kukoyi, the Senior Special Assistant on Media to the First Lady, revealed that Oluremi made these comments during a high-level meeting on domestic health financing, organized by President Paul Kagame of Rwanda at the 38th African Union (AU) summit in Addis Ababa, Ethiopia.

Oluremi emphasized that without guaranteed access to essential healthcare for Africans, the continent’s efforts to achieve economic growth will remain unfulfilled.

“Africa cannot continue to rely solely on donor funding and foreign aid, which, although helpful, are often unpredictable and unsustainable,” the statement reads.

Instead, we must develop innovative financing strategies tailored to our unique challenges and circumstances.

“Given the increasing funding gap for health on the continent, I urge us all to come together and commit to advocating for increased national health budgets.”

The First Lady noted that, in light of recent policy changes in the US, Africa must seek local and sustainable solutions to fill its funding gap.

On January 20, US President Donald Trump signed an executive order withdrawing the US from the World Health Organisation (WHO).

Trump also froze funding from the United States Agency for International Development (USAID), which supports most health institutions in Africa.

With this freeze, the World Health Organisation (WHO) projects a significant rise in health crises across the continent.

However, the President’s wife stressed the need for effective resource mobilization and use to ensure short, medium, and long-term impacts, stating that the health of the people is key to the continent’s prosperity.

“In line with the Abuja Declaration, our governments should allocate at least 15% of their budgetary allocations to health,” Oluremi said.

“We must also support innovative financing mechanisms and explore sustainable models, such as expanding health insurance coverage, health endowment funds, and investments from the African diaspora.

“Accountability and transparency must be ensured, as funds allocated to health must be used efficiently and effectively.”

The event saw the participation of presidents and heads of state from several African countries, including Rwanda, Ethiopia, Botswana, Kenya, Senegal, Zimbabwe, and Barbados, as well as donor agencies and funding partners, discussing global and regional approaches to domestic health financing in Africa.

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