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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

“JAPA”: Canada Increases Minimum Proof Of Funds To N17m For Immigrants

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Foreign nationals aiming to migrate to Canada through the Express Entry system will now need to meet a higher minimum financial requirement, following a recent update from Immigration, Refugees and Citizenship Canada (IRCC).

Based on the new guidelines effective from July 7, 2025, a single applicant is now required to show access to at least CAD $15,263 (about N17 million), an increase from the previous CAD $14,690. For a family of two, the new minimum required amount rises to CAD $19,001 (N21.2m).

This update in the financial threshold is part of IRCC’s annual review of settlement fund requirements, calculated at 50% of the low-income cut-off figures determined by Statistics Canada.

These funds are meant to prove that applicants can financially support themselves and their families after arriving in Canada.

Applicants must provide official letters from their financial institutions, printed on the bank’s letterhead. For those applying with a spouse, funds in joint accounts may be combined.

To stay eligible in the Express Entry pool, candidates must update their proof of funds in their profile no later than July 28, 2025. This update will not affect the original submission date and time of the profile, meaning it will not impact tie-breaker situations.

Proof of funds remains a mandatory requirement under both the Federal Skilled Worker Program and the Federal Skilled Trades Program. However, it is not required for applicants under the Canadian Experience Class or for those already authorized to work in Canada with a valid job offer, even under other Express Entry categories.

Submitting an Express Entry profile is only the initial step and does not guarantee permanent residency. IRCC continues to invite the highest-ranking candidates from the pool approximately every two weeks, using the Comprehensive Ranking System (CRS) to assess and rank applications.

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BIG STORY

UK Introduces eVisas For Nigerian Study, Work Visa Applicants

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The British High Commission in Abuja announced on Wednesday a new change in the United Kingdom’s immigration process for Nigerians applying for study and work visas.

Effective from 15 July 2025, most applicants in these categories will start receiving digital eVisas instead of the traditional visa stickers in their passports, according to a statement from the BHC.

The new policy applies only to applications submitted on or after 15 July 2025. Those who apply before that date will still follow the current process, which involves submitting a passport at a Visa Application Centre and receiving a vignette.

The statement reads, “From 15 July 2025, most individuals applying to enter the UK on study or work-related visas will no longer receive a physical visa sticker (vignette) in their passport. Instead, successful applicants will be issued an eVisa, a secure, online record of their immigration status. This change marks a major step in the UK Government’s transition to a modern, digital immigration system. This change applies only to study or work visa applications submitted on or after 15 July 2025. Applicants who apply before 15 July will continue with the current process, including leaving their passport at the Visa Application Centre and receiving a vignette. Visit visa applications will continue to receive the visa vignette sticker for the time being.”

Applicants are still required to visit a Visa Application Centre to provide biometric data.

Once approved, applicants will receive an email from UK Visas and Immigration with the decision and instructions for creating a UKVI account to access their eVisa.

The statement continues, “Despite the removal of the vignette for study or work visas, all applicants must still attend a Visa Application Centre to provide their biometric information as part of the visa processing procedure. Once a decision is made on their visa application, applicants will receive an email from UK Visas and Immigration with the outcome and instructions to create a UKVI account, to access their eVisa.”

Chargé d’Affaires at the British High Commission in Abuja, Gill Obe, stated, “We’re making it easier and faster for Nigerians to travel to the UK. From 15 July 2025, most people applying for study or work visas will get a digital eVisa instead of a visa sticker in their passport. This is a further big step to a fully digital UK immigration system, making the process more secure, more efficient, and more convenient for students, professionals, and families.”

She explained that not all applicants would be affected immediately.

“However, if you’re applying as a dependant, like a spouse or child, of someone who is studying or working in the UK or if you are applying for a visitor visa, you’ll still receive a visa vignette sticker in your passport for the time being,” she said.

The High Commission clarified that eVisas have already replaced Biometric Residence Permits for individuals granted leave for more than six months. Those with a UKVI account can use the “View and Prove” service to share their immigration status with third parties, such as employers or landlords in England.

To obtain an eVisa, applicants must apply online via the official UK government website (gov.uk), attend a Visa Application Centre to provide biometrics, take their passport home the same day if no vignette is required, and follow instructions in the decision letter, including creating and linking a UKVI account if needed.

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BIG STORY

BREAKING: Ganduje Appointed FAAN Board Chairman

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Former Kano State Governor Abdullahi Umar Ganduje has been appointed “Chairman of the Board of the Federal Airports Authority of Nigeria (FAAN),” shortly after resigning as “National Chairman of the All Progressives Congress (APC).”

The announcement was made on Tuesday at the official inauguration of newly appointed FAAN board members in Abuja.

Ganduje resigned from his role as APC national chairman last week, citing “urgent personal reasons.” He has been succeeded by Ali Bukar Dalori.

 

More to come:

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