The Petroleum Product Retail Outlet Owners Association (PETROAN) has clarified that their N100 billion intervention request from President Bola Ahmed Tinubu is not a bailout but an investment aimed at saving Nigeria’s energy sector from collapse.

Billy Gillis-Harry, the National President of PETROAN, explained in a recent interview that the funds would be placed in an energy bank, providing petrol dealers with access to affordable, single-digit interest loans.

The proposed fund, he argued, would help reduce the price of Premium Motor Spirit (PMS), which is currently sold for between N935 and N1,100 per liter in Nigeria.

He emphasized that the request is not for free money, but for the government to invest in the establishment of an energy bank where the N100 billion could be used as seed capital.

Gillis-Harry stated, “We are not asking for free money.

We’re requesting that the government place the N100bn into the energy bank as seed capital.

This will allow us to access loans with a lower interest rate, ultimately helping reduce fuel prices and improve the sector.”

The United Bank for Africa (UBA) ranks as the second place in SME banking and third in retail banking in the West Africa Banking Industry Customer Experience Survey.

The bank has impressed its customers since its progress from 2023, it jumped from the 14th position and is now in the 2nd position.

Oliver Alawuba, UBA’s Group Managing Director and CEO stated “This recognition is a testament to our ability to turn aspirations into achievements and challenges into victories.”

“At the heart of this success lies our unwavering commitment to the Customer First (C1st) philosophy. It is not just a slogan but the essence of who we are.”

Multibillionaire Businessman, Errol, Father of Elon Musk has revealed his interest in buying Liverpool. The businessman has taken an interest in team’s business and will like to hugely invest.

However Errol has expressed concerns for the price, sharing his worries he stated that the current owners might increase the price.

“I can’t comment on that, they’ll raise the price! Oh yes, [he has expressed a desire], but that doesn’t mean he’s buying it.”

“He would like to yes, obviously. Anybody would want to – so would I. “His grandmother was born in Liverpool, and we have relatives in Liverpool, and we were fortunate to know quite a few of the Beatles because they grew up with some of my family. So, we are attached to Liverpool you know.”