News
NNPC and marketers have agreed on a new fuel price, replacing the old rate of N1,010.
The recent conflict between the Independent Petroleum Marketers Association of Nigeria (IPMAN) and the Nigerian National Petroleum Corporation (NNPC) underscores the significant challenges that pervade the nation’s petroleum sector. IPMAN’s accusations against the NNPC for imposing fuel prices that exceeded the purchasing rates from refineries illuminated the tensions within the industry, compelling association members to seek refunds for their deposits. This discord escalated to the involvement of the Department of State Services (DSS), which facilitated discussions that culminated in a price reduction, establishing a new fuel price of N995 per litre in Lagos. This adjustment paved the way for the resumption of fuel loading across depots nationwide, marking a crucial development in the sector.
In addition to resolving immediate pricing issues, ongoing negotiations between IPMAN and the Dangote Refinery represent a transformative step toward a more deregulated market. IPMAN President Abubakar Maigandi has indicated that successful negotiations would enable petroleum marketers to source fuel directly from the Dangote Refinery. This initiative aligns with the Nigerian government’s directive promoting direct sourcing, indicating a pivotal shift within the downstream oil sector and reflecting a broader strategy aimed at enhancing market competition.
Minister of Finance Wale Edun emphasized that fostering competition is integral to improving operational efficiency and stabilizing fuel availability. The agreement reached between IPMAN and the NNPC is portrayed as a critical milestone in alleviating fuel scarcity in Nigeria, while also propelling the country towards a more liberalized petroleum industry.
In conclusion, the developments within the Nigerian petroleum sector signal a potential new era of improvement in fuel availability and distribution. With IPMAN members resuming fuel loading and distribution, the implications of this agreement may lead to significant benefits for consumers and the national economy, as Nigeria strives to establish a more competitive and efficient fuel market.
Anambra State Governor, Professor Chukwuma Soludo, has extended his felicitations to Catholics in Anambra and worldwide following the election of Robert Cardinal Prevost as Pope Leo XIV.
Acknowledging Anambra’s significant Catholic population and the participation of its cardinals in the papal election, Governor Soludo, in a statement released by his Press Secretary, Christian Aburime, expressed joy at the news. He noted that Pope Leo XIV embodies the universal spirit of the Church, citing his diverse heritage, missionary work in Peru, and distinguished academic background in Mathematics and Canon Law.
Governor Soludo congratulated Catholics globally, praying for Pope Leo XIV’s leadership with wisdom and discernment. He urged the Pontiff to foster dialogue, promote peace, and uphold the sanctity of human life. Highlighting the Pope’s proven leadership capabilities demonstrated during his tenure as Provincial of the Augustinian Province of Chicago, Governor Soludo expressed confidence in his ability to understand and address the diverse needs of the global Catholic community.
Former Big Brother Naija housemate, Tochi, has ignited a fresh round of online discourse with his recent assertion regarding the financial burdens within romantic relationships. The reality star publicly stated on his Instastory that being a boyfriend has become a more expensive endeavor than being a husband.
This claim, captured in a now-viral screenshot, has been met with mixed reactions. While some social media users concur with Tochi’s perspective, others have vehemently disagreed, labeling it an unrealistic generalization. The debate highlights the evolving and often complex financial dynamics within modern relationships. The discussion continues to unfold across various online platforms, prompting individuals to re-evaluate their own perceptions of commitment and financial responsibility.
The Federal Capital Territory (FCT) Minister, Mr. Nyesom Wike, recently announced that the renovated Abuja International Conference Centre (AICC) will be the inaugural project commissioned by President Bola Tinubu in celebration of his second year in office.
Minister Wike, following an inspection of the facility, lauded Julius Berger, the contractor responsible for the comprehensive renovation, for their diligence and adherence to the project timeline. He emphasized the dilapidated state of the AICC prior to President Tinubu’s intervention, highlighting the current transformation into a “world-class facility” as a testament to effective leadership.
Furthermore, the Minister inspected the ongoing extension of Obafemi Awolowo Way (N5), expressing optimism that its first phase would also be included in the upcoming inauguration ceremony. He again commended Julius Berger for their commitment to excellence, underscoring the project’s significance within the “Renewed Hope” agenda. These projects signal a renewed commitment to infrastructure development and improved facilities within the Federal Capital Territory.
