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Netflix Raises Subscription Fees Again for Nigerian Users

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Just three months after a previous price increase, Netflix has raised its subscription fees once again for users in Nigeria. This latest adjustment impacts all subscription tiers, reflecting a notable increase across the board.

Netflix has justified the hike by emphasizing the need to boost revenue and earnings, which will help support the growth and expansion of its content offerings. As a result, Nigerian subscribers will now face higher costs for accessing Netflix’s various plans.

The Premium Plan has seen the most significant rise, with its monthly fee climbing to 7,000 naira marking a 40 percent increase from the earlier rate of 5,000 naira.

The Standard Plan, which is favoured by many Nigerians for its HD quality and multi-screen viewing options, has risen by 37.5 percent, from 4,000 naira to 5,500 naira.

The Basic Plan has also increased, now costing 3,500 naira instead of the previous 2,900 naira, which represents a 21 percent rise. Meanwhile, the Mobile Plan, the least expensive option, has experienced a substantial 83 percent increase, jumping from 1,200 naira to 2,200 nanairas

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This new round of price adjustments follows a similar increase in April 2024, highlighting Netflix’s ongoing strategy to enhance its revenue while expanding its content offerings for Nigerian viewers.

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Shehu Sani Compares NNPC and Dangote Refinery to ‘Cain and Cain’ Over Fuel Prices

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Amid ongoing debates over the pricing template for petrol, former senator Shehu Sani has drawn an intriguing comparison between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).

Sani remarked that many Nigerians initially saw the relationship between the two as reminiscent of the biblical brothers Cain and Abel, where one would represent good and the other, evil.

However, he suggested that the reality has proven otherwise, with both entities resembling “Cain.”

Taking to social media platform X, Sani posted, “Most people thought that Dangote and NNPC are like Cain and Abel.

Now they found out that they are Cain Junior and Cain Senior,” implying that neither company is living up to the positive expectations of Nigerians.

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This reaction comes in the wake of the NNPC’s recent release of estimated petrol prices for September 2024.

According to the state-run oil company, it is purchasing petrol from Dangote Refinery in U.S. dollars, which has significantly influenced the retail price of Premium Motor Spirit (PMS) across Nigeria.

The NNPC stated that the petrol purchased from the Dangote Refinery gantry was bought at N898.78 per litre.

With logistics costs factored in, the price of petrol in Lagos will reach an estimated N950.22 per litre.

In cities such as Abuja, Sokoto, and Kano, prices are expected to be around N999.22 per litre.

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Other regions are also grappling with high pump prices. In states like Rivers, Akwa Ibom, Bayelsa, and Imo, fuel is estimated to be sold at N980 per litre.

The highest recorded price is in Borno State, where the cost of petrol is expected to soar to N1,019.22 per litre.

The rising cost of petrol has sparked widespread frustration among Nigerians, who had hoped that the opening of the Dangote Refinery would help stabilize prices.

Many had anticipated that Dangote and NNPCL would work together to alleviate the economic burden on citizens, but the continued rise in fuel prices has led to disillusionment.


 

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Trump to Launch New Crypto Exchange

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Former President Donald Trump will announce World Liberty Financial, a new cryptocurrency exchange, on September 16, 2024, with his sons Donald Trump Jr. and Eric Trump managing the platform. The exchange will reserve 70% of its tokens for insiders and sell 30% publicly.

This move aligns with Trump’s campaign promise to lead in crypto, though it raises concerns about potential conflicts of interest and the use of federal resources. Despite past criticism of cryptocurrencies, Trump’s campaign now supports digital currencies and accepts crypto donations.


 

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Dangote Refinery Begins Loading Locally Produced Petrol

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The Dangote Refinery has marked a significant milestone as the first batch of trucks has begun loading Premium Motor Spirit (PMS), commonly known as petrol, at the facility.

This development was highlighted in a video shared by the Dangote Group on its official X account, where the company confirmed the commencement of fuel loading.

In the video, the company announced that the trucks are ready to load PMS, signaling a major step toward locally produced petrol being distributed across Nigeria.

The Nigerian National Petroleum Company Limited (NNPCL) had previously confirmed the arrival of over 300 trucks at the Dangote Refinery, prepared to load petrol and begin distribution nationwide.

This marks a historic moment for Nigeria, as it is the first time in several years that the country will be loading and distributing locally refined petrol.

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The significance of this achievement goes beyond mere fuel distribution.

It could have far-reaching effects on the nation’s economy, potentially reducing the cost of fuel and curbing long-standing issues of fuel scarcity that have plagued Nigerians.

Finance Minister Wale Edun, alongside Federal Inland Revenue Service Chairman Zacch Adedeji, had earlier confirmed that all necessary agreements were in place for NNPCL to begin lifting petrol from the Dangote Refinery.

Industry stakeholders and petroleum marketers are optimistic that the launch of fuel distribution from the refinery will not only address the recurring problem of fuel shortages but may also lead to a gradual reduction in petrol prices.

This development promises to be a significant leap toward achieving energy independence in Nigeria and fostering more stability in the nation’s fuel market.

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