Business
Dangote Refinery Begins Petrol Production, Set to Ease Fuel Scarcity
The Dangote Group has announced that its Lagos-based refinery, which has a capacity of processing 650,000 barrels per day, has begun producing Premium Motor Spirit (PMS), commonly known as petrol.
Chiejina explained that similar to how the company had earlier commenced the supply of Automotive Gas Oil (AGO), or diesel, their petrol production is set to alleviate the long-standing fuel scarcity in Nigeria.
He emphasized that the introduction of Dangote Petrol to the market is expected to drastically reduce the time Nigerians spend queuing at filling stations, which has been a major issue for commuters and businesses alike.
“The refinery has already begun producing Premium Motor Spirit,” Chiejina noted. “We narrowly missed launching in August by just a day, but the product will be available on the market very soon.
Just as we did with AGO, we started producing it and in a short period, it reached the market. This same approach is being applied to petrol. By September, once we reach commercial-scale production, the product will be available across the country.”
He further elaborated on the company’s goal of making petrol both available and affordable, which will significantly ease the pressure on Nigerians who have endured long queues at fuel stations and wasted valuable time trying to purchase fuel. The group aims to improve access to petrol and reduce the hours lost due to the ongoing scarcity.
This update from Dangote Group comes at a time when the Nigerian National Petroleum Company Limited (NNPCL) admitted it is grappling with financial challenges concerning the cost of petrol supply.
Over the past weekend, NNPCL’s acknowledgment of the financial strain further exacerbated public anxiety over the country’s ongoing fuel shortages, as citizens continue to struggle with prolonged scarcities.
The entrance of Dangote’s refinery into petrol production is expected to bring much-needed relief to Nigerians and ease the pressure on fuel availability in the country.
Business
Top 10 Essential Skills You Need to Thrive in 2025 and Beyond in an Ever-changing World
As we approach 2025, the professional landscape is undergoing significant transformation, which is driven by rapid technological advancements and evolving workplace dynamics.
To understand this ever-changing environment successfully, individuals must cultivate a diverse set of skills that blend technical proficiency with essential human qualities.
Here are the top 10 skills that will be indispensable in the coming years.
1. Analytical Thinking and Innovation
The ability to analyze complex information and develop innovative solutions is paramount.
Employers value individuals who can think critically and approach problems with creativity, which will certainly lead to effective and efficient outcomes.
2. Active Learning and Learning Strategies
In a world where change is constant, the need for active learning is crucial.
This involves not only acquiring new knowledge but also applying effective learning strategies to adapt to new situations and challenges.
3. Complex Problem-Solving
The modern workplace presents different challenges that require the right problem-solving abilities.
Being able to navigate and resolve complex issues is a highly sought-after skill.
4. Critical Thinking and Analysis
Employers are increasingly seeking individuals who can evaluate information critically and make informed decisions.
This skill is essential for effective decision-making and strategic planning.
5. Creativity, Innovation, and Change
The ability to generate original ideas and take the initiative to implement them is invaluable.
Creativity drives innovation and innovation drives change which will contribute to the development of unique solutions and products.
6. Technology Use, Monitoring, and Control
Proficiency in utilizing and managing technology is essential in today’s digital age.
This includes understanding how to operate various technological tools and staying updated with emerging technologies.
7. Resilience, Stress Tolerance, and Flexibility
The ability to remain resilient and adaptable in the face of stress and change is crucial.
Employers value individuals who can maintain performance levels under pressure and adjust to new circumstances effectively.
8. Leadership and Social Influence
Strong leadership skills and the ability to influence others positively are important for driving team success and organizational growth.
This includes motivating others and guiding teams toward achieving common goals.
9. Emotional Intelligence
Understanding and managing one’s own emotions, as well as empathizing with others, enhances interpersonal relationships and workplace harmony.
Emotional intelligence is key to effective communication and collaboration.
10. Reasoning, Problem-Solving, and Ideation
The capacity for logical reasoning and the generation of ideas are fundamental skills.
Employers seek individuals who can approach problems methodically and contribute innovative ideas to drive progress.
Cultivating these skills will not only enhance individual employability but also contribute to personal growth and adaptability in an ever-evolving professional landscape.
Business
From On-site to Hybrid to Remote: The New Work-Life Balance
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.
Business
Petrol Prices Drop to N935 Per Litre as Dangote and NNPCL Compete for Market Share
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.
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