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Petroleum Marketers Poised to Sell Cheaper Petrol with Direct Purchase from Dangote Refinery

Nigeria’s petroleum marketers are optimistic that they will sell Premium Motor Spirit (PMS) at a lower price than the Nigerian National Petroleum Company Limited (NNPCL) once Dangote Refinery begins direct sales to them. This assertion was made by the spokesperson of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Chinedu Ukadike, during an exclusive interview with the press on Monday.

Ukadike expressed confidence that purchasing directly from Dangote Refinery would eliminate additional costs imposed by NNPCL, thus allowing marketers to offer petrol at competitive prices. This update follows recent developments in which the Federal Government, through Finance Minister and Chairman of the Naira-for-Crude Implementation Committee, Wale Edun, confirmed that marketers are now authorized to buy petrol directly from Dangote Refinery.

This decision marks a significant shift, ending the previous arrangement where NNPCL acted as the sole offtaker of products from Dangote Refinery. Initially, upon the refinery’s first distribution of PMS, NNPCL held exclusive rights to lift and market the fuel. However, Edun announced last Friday that part of the Naira-for-Crude deal now enables marketers to bypass NNPCL and engage in direct transactions with the refinery.

The new framework arrives amid rising petrol prices, with NNPCL stations in Abuja recently selling at N1,030 per liter, while other stations have prices ranging between N1,100 and N1,200. NNPCL has also set ex-depot prices between N1,040 and N1,100 per liter, but marketers have voiced discontent, rejecting these rates as unfeasible for sustaining business operations.

For many marketers, the approval to purchase from Dangote Refinery offers a lifeline by reducing their reliance on imports. Ukadike emphasized that IPMAN, which controls 70 percent of Nigeria’s filling stations, eagerly anticipates Dangote Refinery’s commencement of direct petrol sales. He noted that eliminating NNPCL’s markup would allow them to offer cheaper petrol to consumers.

“We are waiting for Dangote Refinery to finalize the direct sale arrangements and release their price template,” Ukadike said. “Our petrol price will definitely be more affordable than NNPCL’s retail price. Since we will be sourcing the product directly, the fees that NNPCL adds will be removed, benefiting both marketers and consumers.”

Ukadike further highlighted that, unlike government employees, petroleum marketers rely entirely on business turnover for profits. “We are hopeful that we will meet with Dangote Refinery soon to conclude these arrangements,” he added.

Similarly, Billy Gillis-Harry, President of the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN), revealed that his association had submitted a request to Dangote Refinery for direct purchase but was yet to receive a response. Gillis-Harry stressed the importance of receiving a clear price template before transactions can commence.

“They asked us to submit a letter, which we have done, but we are still waiting for feedback,” Gillis-Harry explained. “We cannot send trucks to lift petrol without knowing the product’s price. Nonetheless, we remain committed to supporting Dangote Refinery’s operations.”

While marketers are optimistic, some industry observers remain cautious about the promise of reduced prices. Recent hikes in fuel costs, even after Dangote Refinery’s distribution began, have fueled skepticism about how soon the price drop will materialize.

Oil and gas analyst Olabode Sowunmi remarked that Dangote Refinery’s primary focus may not be selling PMS at discounted rates, given the refinery’s need to maintain profitability. “The refinery wasn’t designed to provide cheap petrol but to ensure local production, reducing the dependence on imports,” Sowunmi noted.

This uncertainty follows a sharp increase in petrol prices under President Bola Ahmed Tinubu’s administration. In June 2023, the removal of fuel subsidies pushed prices from N238 per liter to over N600. By October 9, 2024, NNPCL stations raised prices to N1,030 per liter, with other outlets selling at even higher rates.

The economic impact extends beyond petrol prices. Diesel and cooking gas prices have surged, with a 12kg cylinder of Liquefied Petroleum Gas (LPG) rising from N9,194 in 2023 to N15,552 in 2024. Meanwhile, electricity costs have also skyrocketed following a 240 percent tariff hike approved by the Nigerian Electricity Regulatory Commission (NERC) earlier this year, exacerbating financial pressures on households and businesses.

As marketers await the refinery’s final move, many Nigerians are hopeful that Dangote Refinery’s direct engagement will help stabilize the energy market and reduce fuel prices, offering some relief amid the challenging economic climate.

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SCRABBLE JAMZ:• Record entries for 5th edition of Janet Adowei Memorial Scrabble Classics

.As Organizers urges 17 players to regularize their NSF licensing statu A record number of players have registered for the 5th edition of the Janet Adowei Memorial Scrabble Classics (JAMSC), which begins on Saturday at the Chevron Recreational Club, Gbagada, Lagos, Nigeria.We gathered that 117 players drawn from 20 states of the Federation completed their registration online by midnight Wednesday the 13th of November.

A member of the Organizing Committee, Khaleel Adedeji told FIRST ZEALMEDIACAST BLOG that this is higher than the 72 participants during the 4th edition won by Ryan Jacob of Team Akwa Ibom.

However, 17 players who have registered are yet to complete their Nigeria Scrabble Federation NSF licensing formalities and regularize their player’s status and failure to do so may prevent them from competing at the Classics.

A good number of established and highly rated players who are yet to be cleared for the Classics and they include Olatunde Adigun, Ogun State strong man Olufemi Gbadebo, 2022 winner of the prestigious Lekki Scrabble Classics, James Ewruje and a player some Gambia dread, Abiola Oyinloye.❌OLATUNDE ADIGUN❌OLUFEMI GBADEBO❌ABIOLA OYINLOYE❌JAMES EWRUJE❌ITUAH IYASELE❌JULIUS ADEYEMI❌OSUNTOPE MICHAEL❌ISIDORE EMOAVWOYAN❌JAMES ETENG❌ABDULSALAM BAYO❌OMIDIRE CHARLES❌JANET IWUAGWU❌OWOLABI SAHEED❌ESANGBEDO AKHERE❌ONYEBUCHI OKECHUKWU❌FRANCIS AWONAYA❌ABDULAZIZ OTHMANWe can authoritative tell you that this edition of Janet Adowei Memorial Scrabble Classics (JAMSC), has a very rich and strong cast of scrabble show boys and girls.

The roaster is led by current African Champion Oluwatimilehin Doko, former African champion Enoch Nwali, the Classics’ defending champion Ryan Jacob and serial winner John Aiyedun.

2023 South West Closed winner Cyril Umebiye, National Sports Festival medallist and a member of Team Nigeria to major outings Emmanuel Umujose is in the mix, alongside African Games gold medallist Adebisi Adekansi and the 2024 All Nigeria Amazons Scrabble Championship Queen Bukunmi Afolayan.

Two members of Team Nigeria to the African Games in Accra, Ghana, Abdulmumin Jimoh and Tega Okiemuta who were also in Kigali, Rwanda with George Ezinore who came second are other heavyweight wordsmith in attendance along with Samuel Adebola, hard man Babatunde Adeagbo as well as Babajide Alagbada the winner of the Intermediate event in Lekki.

It noteworthy to mention that player with the highest number of wins in a single National Open Championship Segun Durojaye is another confirmed actor this weekend with the 2016 NSF Green Jacket winner Dipo Akanbi.

It’s interesting to mention that Segun Durojaye last big win on the board this year came at the Pyramid Scrabble Mega Retreat that has the signature on Dipo Akanbi the captain of Nigeria’s current club champion.

Adeyemi Adeosun, Dokun Esan, Musa Lateef, Kareem Jamiu, Joseph Okere, Hassan Wasiu, Anthony Odok, Segun Adegbenro, Sunday Oshodi and Tunde Sapuru are plotting a coup d’etat for the super heavyweight including the defending champion Ryan Jacob.

The Classics in its 5th year is in three Divisions:✓ Masters✓ Intermediate ✓ OpensThe cut-off rating point is 1,400 and above for Masters, 1,100-1,399 points for Intermediate while it is 0-1,099 rating points for the Opens Division.

It’s an 18 rounds of games competition rated by Nigeria Scrabble Federation (NSF) and will run for two days, games start by 10am daily with the 2021 Collins Scrabble Dictionary as the reference material.750,000 Naira is the top prize money for the Masters category and lots of spot prizes will be up for grab at the Classics that is supported by Nigeria Scrabble Federation, Mind Games Incorporated and Lekki Scrabble Club.Over 3.5 million naira will be shared as prize money.

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Breaking: Oborevwori Presents N936 Billion “Budget of Fiscal Consolidation” for 2025

Delta State Governor, Rt. Hon. Sheriff Oborevwori, on Thursday presented the proposed 2025 budget of N936 billion to the State House of Assembly for deliberation and approval.

The Governor arrived at the Assembly complex around 10 a.m. to a warm reception from enthusiastic staff who sang and danced to welcome him.

The vibrant atmosphere underscored the significance of the event, which marks a pivotal step in the state’s governance and development planning.

While unveiling the budget, aptly titled the “Budget of Fiscal Consolidation,” Governor Oborevwori highlighted its focus on human capital development and infrastructure expansion.

He emphasized that the proposed budget reflects his administration’s commitment to building a sustainable future for the people of Delta State.

A breakdown of the budget reveals significant allocations to key sectors:Road Infrastructure: N230 billion, the largest allocation, aimed at improving connectivity and boosting economic growth.

Education: N67.42 billion to enhance the quality of learning and access to educational facilities.

Health: N30.55 billion to strengthen healthcare delivery and infrastructure.Water Resources: N11.03 billion to ensure access to clean water for communities.

Agriculture: N7 billion to support farmers and boost food production.

Governor Oborevwori urged the Assembly to give the appropriation bill speedy consideration, emphasizing the importance of these investments in driving economic development and improving the quality of life for residents of Delta State.

The budget presentation signals the administration’s focus on fiscal responsibility and prioritizing sectors that directly impact the well-being of the people.

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Music artiste, Davido delves into football, floats Clubside

Afrobeat superstar Davido has made headlines once again, this time with a bold move into the sports industry.

The celebrated artist has acquired a new football club, named 30BG FC, which is set to compete in the 2024 Lagos Liga.

This exciting development was announced in a viral post shared by the Lagos Liga X account on Wednesday evening, sparking widespread conversation across social media platforms.

The announcement read: “THE WAIT IS OVER! Introducing 30BG Sports Club to Lagos Liga 2024.

The 001 has landed. Davido, a globally acclaimed singer, transcends music and entertainment, impacting culture, politics, and more.“Opponents, beware! Davido’s arrival makes the competition riskier.

But will 30BG FC emerge victorious?”Known for his chart-topping hits and global influence, Davido’s venture into sports ownership adds another dimension to his multifaceted career.

While he has always been a cultural icon in music, this move demonstrates his commitment to extending his influence into new arenas, including sports and community development.

The 30BG FC project is expected to not only boost the Lagos Liga’s profile but also create opportunities for young talents in the local football scene.

This announcement comes hot on the heels of another celebrity acquisition in Nigerian football.

Just two weeks ago, Tacha, a prominent Big Brother Naija reality star, made a similar splash by purchasing her football club.

The trend of Nigerian celebrities investing in sports is becoming increasingly popular, with music heavyweights Burna Boy and Don Jazzy also owning football clubs.

This wave of investments underscores the growing appeal of football as a business venture and a platform for societal impact.Fans and analysts alike are eager to see how 30BG FC will perform under Davido’s ownership.

His reputation for excellence in the music industry has raised expectations, with many predicting that the club will adopt a competitive and innovative approach in the league.

The Lagos Liga, known for its vibrant matches and passionate fan base, will undoubtedly benefit from the heightened visibility that Davido’s involvement brings.

For Davido, this is more than just a business move; it’s a statement of intent.

The “Omo Baba Olowo” hitmaker has consistently used his platform to champion Nigerian culture and empower the youth.

His foray into football is yet another example of his dedication to inspiring change and fostering growth in various sectors.

As Lagos Liga 2024 approaches, all eyes will be on 30BG FC. Will the club live up to the hype and establish itself as a formidable force? One thing is certain: Davido’s presence will add excitement and intrigue to the league.

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Tragic Blaze at Spanish Retirement Home Claims 10 Lives

A deadly fire that broke out overnight at a retirement home in Villafranca de Ebro, located in northeastern Spain, claimed the lives of at least 10 individuals, according to the local emergency service on Friday.

The emergency services in the Aragon region shared limited information in their X post, though Spanish media reported that 82 people were present at the facility when the fire started around 5:00 am (0400 GMT), with the cause still unknown.

More details later…

AFP

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Customs Chief Honors Late COAS Lagbaja’s Legacy in Strengthening Nigeria’s Security

The Comptroller-General of Customs, Bashir Adeniyi, praised the late Chief of Army Staff, Taoreed Lagbaja, for his invaluable contributions to national security, describing him as a leader known for his unwavering commitment and selflessness.

Adeniyi shared these remarks in a statement released on Thursday by NCS spokesperson, Abdullahi Maiwada.

He expressed that Lagbaja’s passing is a tremendous loss not only for his family, the military, and the government but for the entire Nigerian people.

Adeniyi extended his condolences to Lagbaja’s family, his colleagues, and the Nigerian Armed Forces.

He announced that the NCS had rescheduled its Gala and Award Night, originally planned for Friday in Abuja as part of the Comptroller-General of Customs conference, to pay tribute to the military leader.

“This decision is taken to allow NCS to identify with the mood of the nation in mourning Lagbaja.

“The NCS acknowledges the weight of this moment; we join all to mourn the passing of a steadfast leader,” he said.

According to the News Agency of Nigeria, Lagbaja’s body was brought to Abuja on Thursday ahead of his burial set for Friday.

Lagbaja passed away on November 5 in Lagos following a short illness.

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Stephen Akintayo dreams Trump’s appointment as US International Secretary

Nigerian entrepreneur, Stephen Akintayo is dreaming of President Donald Trump's appointment as the US International Secretary for Housing and Land Banking

Nigerian inspirational speaker and serial entrepreneur, Stephen Akintayo is dreaming of landing an appointment from President Donald Trump as the United States (US) International Secretary for Housing and Land Banking.

Akintayo revealed his dream on Friday morning in a post he shared on his official X account.

“BREAKING NEWS! Wow! Who would have thought that one day, I’d be part of a story where Donald Trump and Stephen Akintayo are mentioned in the same breath?,” he wrote.

“Looks like all my posts supporting Trump’s policy direction on housing and land banking over the years have finally come full circle.”

Akintayo who is currently the Chief Executive Officer (CEO) of Stephen Akintayo Consulting International, Gtext Group and Investment Limited, however, added jokingly: “This news just had me cracking up, now if only this were true.

“From my posts about his business sense to my cheers for his election strategies, it is clear I have seen a lot of values in Trump’s approach to leadership, love him or not.

“And here is the thing: if Trump did offer me this position, I would bring some African flair to it. Imagine mixing our culture’s resilience with American land strategies!

“We would make property investment great again in ways no one has ever seen before! So, what do you all think? If this was real, should I take the role?”

Akintayo is a graduate of Microbiology from the Olabisi Onabanjo University (OOU), Ogun State, Nigeria.

While in his fifth year in the university, the 38-year-old entrepreneur started a Student Trade Fair on his campus.

He thereafter studied Digital Marketing Consultancy at the Digital Marketing Institute and Harvard University in the US.