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Petrol Prices Surge to N950 per Liter in Katsina as Average Hits N770.54

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According to the Nigeria Bureau of Statistics (NBS), the price of Premium Motor Spirit (Petrol) reached its peak at N950 per litre in July 2024. The NBS July Petrol Price Watch report indicates that Katsina State experienced the highest price, set at N950 per litre.

Following closely are Jigawa and Benue States, where the prices were N903.08 and N846.95 per litre, respectively.

In contrast, Kwara, Edo, and Akwa Ibom States reported the lowest average retail prices for petrol, with Kwara at N650.00, Edo at N669.75, and Akwa Ibom at N673.75 per litre.

The average price of petrol for July 2024, as reported by NBS, was N770.54 per litre. This significant increase in fuel prices follows the Nigerian government’s decision to remove fuel subsidies. Before this policy change, the price of petrol was N238 per litre in May 2023.


 

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Hamster Kombat Unveils Anti-Cheating Plan

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Hamster Kombat has introduced a new anti-cheating strategy to ensure fair play and protect dedicated players. The initiative targets those attempting to manipulate the game for extra benefits, issuing a “cheating is bad” warning that could affect their positions for the airdrop distribution on September 26. The team emphasized the importance of rewarding honest players and creating a secure environment.

As Season 1 of the Telegram-based Web3 game ends on September 20, Hamster Kombat will take a snapshot of the game’s activities to determine airdrop eligibility. The game, which has over 300 million users, is focused on maintaining fairness ahead of its upcoming Season 2 launch.


 

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Binance Launches ‘Moonbix’ on Telegram

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Binance announced the upcoming launch of “Moonbix,” a play-to-earn (P2E) game on Telegram’s Mini App. In this game, players explore galaxies, collect items, and earn crypto rewards. Although the game leaked early, Binance is fine-tuning it for an official release and warned users to stay cautious of impersonation scams.

Telegram Mini Apps, introduced in 2023, have seen massive engagement, with popular apps like Hamster Kombat driving crypto adoption. Telegram’s integration with The Open Network (TON) has further contributed to this growth.


 

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Nigeria Earned $1.2bn from Telecom Licenses, Says Obasanjo

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Photo source: Google

The Federal Government generated around $1.2 billion from telecom license fees during the early stages of mobile technology in Nigeria, with major operators like MTN, Globacom, Econet (now Airtel), and Etisalat (now 9mobile) contributing to the sum.

These fees were instrumental in laying the foundation for the country’s telecom industry, which officially began in 2000.

The sector has since become a key driver of Nigeria’s economic growth.

Former President Olusegun Obasanjo highlighted this achievement during a book launch held in Lagos on Tuesday.

He reflected on how the licensing of these operators marked a pivotal moment in Nigeria’s technological and economic development, allowing the country to leap into the era of mobile communication.

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Obasanjo acknowledged the critical role these funds played in shaping the telecom industry, which has become one of the most significant sectors in the nation’s economy today.

The successful auction of these telecom licenses provided the capital necessary to build the infrastructure and networks that have connected millions of Nigerians, driving economic activity and fostering innovation across various industries.


 

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