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Fuel Prices Drop in Abia to N1,150-N1,200 Following NNPC Direct Supply

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Fuel prices in Abia have dropped from N1,300-N1,350 per liter to between N1,150 and N1,200. This decrease follows the Nigeria National Petroleum Company’s (NNPC) decision to allow direct requests and payments for fuel from members of the Independent Petroleum Marketers Association of Nigeria (IPMAN). Marketers in Aba and Umuahia have begun sourcing fuel directly from the NNPC, contributing to the lower prices.

Mazi Oliver Okolo, Executive Chairman of IPMAN’s Aba branch, explained that improved supply from the NNPC is driving the price reduction. He noted that since the NNPC opened its portal for requests last Saturday, he expects further price drops once supplies begin next week. Okolo emphasized that direct supply from the NNPC and the operational status of local depots in Aba are crucial for sustaining low fuel prices.

He believes that if NNPC, the state government, and the federal government collaborate to ensure fuel availability at the Aba depot, prices could fall to around N900 or below N1,000 per liter. Okolo acknowledged the challenges faced by marketers due to high sourcing costs from third parties and thanked Governor Alex Otti for starting the rehabilitation of the Osisioma-NNPC-Ekeakpara road, a federal road that will aid in improving fuel distribution.


 

Business

Nigeria to Supply Dangote Refinery with 400,000 Barrels Daily

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The Federal Government plans to supply the Dangote refinery with up to 400,000 barrels of Nigerian crude oil daily under its naira-for-crude agreement, as reported by Bloomberg. This initiative will be implemented over the next two months, totaling 24 million barrels between October and November 2024.

The deal is expected to enhance the refinery’s operations and significantly impact the local oil market by reducing Nigeria’s crude exports. The Dangote refinery, the largest in Africa, will require 13 to 14 shipments from Nigeria’s typical monthly crude cargo of about 50, potentially lowering national exports to below 1 million barrels per day.

Although some shipments may face delays, the planned supply is much larger than the 255,000 barrels a day the refinery received during the first half of the year. As the refinery approaches full capacity, Nigeria may finally reduce its reliance on costly oil product imports, impacting the West African gasoline and diesel markets.


 

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Entertainment

Police Investigate False 9-1-1 Call at Chris Pine’s Home

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Police recently visited Chris Pine’s home in response to a suspected false 9-1-1 call. According to TMZ, the Los Angeles Police Department received a report from an anonymous caller claiming to have been sexually assaulted at Pine’s address, but no evidence of a crime was found when officers arrived.

Pine appeared surprised by the police presence and spoke with the officers before they suspected the report was fabricated. When they tried to call the anonymous caller back, he was uncooperative and hung up. Authorities now believe he may not live in California and are investigating further. The caller might face charges for filing a false police report and is linked to three other similar calls. Pine has dealt with false reports in the past, but none led to legal consequences. He previously pleaded guilty to a DUI in New Zealand in 2014, which was later expunged.


 

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Minister Musawa Defends Her Appointment Despite NYSC Concerns

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Minister of Art, Culture, and Creative Economy, Hannatu Musa Musawa, has spoken out about concerns surrounding her ministerial appointment while still undergoing the National Youth Service Corps (NYSC).

In an interview on Sunday Politics with Channels Television, Musawa insisted that she did not break any laws by accepting the role.

She explained that she has already completed two years of national service and followed all legal requirements.

“There’s been a lot of talk about the situation, but I did nothing wrong,” she said. “I finished my NYSC and followed the rules.”

Musawa also mentioned that although the matter has caused public discussion, she will provide full details in the future.

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The minister was appointed in August 2023, while still serving as a corps member, and no questions about her NYSC status were raised during her Senate screening.


 

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