Aliko Dangote, the President of Dangote Group, has clarified that the recent reduction in petrol prices from his refinery is a direct response to market forces.

In an interview featured in an Arise TV documentary, Dangote explained that the price cut is aimed at safeguarding the company’s interests and investments, particularly after the massive $20 billion investment in the Dangote Refinery.

“The price reduction is a response to the markets. We invested over $20 billion in this refinery, and we need to protect our interests and investments,” Dangote stated.

On December 19, 2024, Dangote Refinery reduced its ex-depot price of petrol from N970 to N899.50 per litre.

Following this, retail prices were also adjusted to N935 per litre, in collaboration with MRS filling stations.

The move prompted the Nigerian National Petroleum Company Limited (NNPCL) to follow suit, cutting its ex-depot price to N899 per litre and retail prices to N965 per litre.

As a result, petrol prices across the country are now fluctuating between N935 and N1,100 per litre, with many filling stations adjusting their prices in line with the market dynamics.

In today’s evolving world, the traditional concept of work-life balance isn’t static.

The rigid separation between professional duties and personal life gives way to a more fluid integration, often called “work-life harmony.”

This shift brings about the boundaries between work and personal time, which are increasingly blurred, especially with the rise of remote work and digital connectivity.

The Evolution of Work-Life Balance

Historically, work-life balance implied a clear demarcation. This allowed work to be confined to specific hours, and personal life occupied the rest.

However, this model often proved unrealistic, leading to stress and burnout as individuals struggled to categorize their lives into different aspects.

The modern approach seeks harmony, where work and personal activities coexist more naturally, allowing for greater flexibility.

Achieving work-life harmony involves several key strategies:

1. Flexibility

Adapting work schedules to accommodate personal commitments will certainly lead to an increase in productivity and proficiency.

For instance, flexible working hours and hybrid work models have been shown to shed out excessive pressure on employees.

2. Prioritization

Identifying and focusing on tasks that align with personal and professional goals helps in managing time effectively.

3. Rest and Recreation

Incorporating periods of rest and engaging in enjoyable activities can enhance creativity and overall well-being.

Research indicates that allowing oneself to relax and have fun facilitates creative flow.

Challenges and Considerations

While the concept of work-life harmony offers a more integrated approach, it also presents challenges:

• Blurred Boundaries: The lack of clear separation can lead to overwork if

• Self-Discipline: Maintaining productivity requires self-regulation to prevent personal activities from encroaching on work responsibilities.

The transition from a hustle-centric culture to one that values flow and harmony depicts a broader recognition of the need for sustainable work practices.

When you embrace flexibility, prioritization, and rest, you will then be able to foster an environment where both professional and personal lives thrive in unison.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has made an important announcement regarding the reduction in petrol prices.

Starting today, Monday, the price of petrol will be adjusted to N935 per litre.

This change follows a new agreement between IPMAN and the Dangote Petroleum Refinery.

According to Maigandi Garima, the National President of IPMAN, the decision comes as part of a broader effort to standardize petrol prices nationwide.

The decrease in the ex-depot price at the Dangote refinery and the framework being put in place will enable marketers across Nigeria to sell petrol at this new price.

However, they will still be facing a logistical cost of N36.

Garima further explained that Dangote Refinery has introduced a new pricing and loading arrangement.

Under this new system, marketers will now pay a fixed ex-depot price of N899.50 per litre.

This is a significant shift, as the loading price had previously been pegged at N970 per litre.

With this new structure, petrol prices are set to decrease, offering consumers relief in an otherwise volatile market.

He added that Dangote Refinery is implementing a program designed to ensure consistent fuel consumption rates across the country.

“We expect the new arrangement to start today, and it will bring benefits to consumers and marketers alike,” he said.

In addition to this, IPMAN’s publicity officer, Ukadike, emphasized the role of competition between key players in the petroleum sector, particularly between the Nigerian National Petroleum Corporation Limited (NNPCL) and Dangote Refinery.

He explained that this rivalry is not only beneficial but necessary for the Nigerian economy.

The competition has the potential to reveal the true costs associated with producing petrol, as well as the logistical expenses involved in distribution.

“NNPCL has updated its pricing on the portal, which means anyone with access can now pay and be directed to the depot to pick up the products,” he said.

Deregulation allows for multiple sources of petroleum products to compete, driving down prices and offering better value for consumers.

This pricing competition, he noted, benefits Nigerian commuters who will now be able to purchase petrol at a more affordable rate.

He also spoke about the increased consumption that is expected as a result of the price drop.

“With the price decrease, we expect greater demand.

People are no longer buying petrol the way they used to, but with these lower prices, consumption will increase significantly,” Ukadike explained.

Marketers are now preparing to load petrol from both Dangote and NNPCL depots, with a focus on logistics to ensure timely delivery to retail outlets.

Ukadike mentioned that while Dangote’s distribution arrangement is handled through MRS, NNPCL supports loading from other depots, creating a more efficient distribution network.

“Ultimately, the goal is to make sure the petrol is delivered as quickly and efficiently as possible to the retailers,” he said.