News
Petrol Landing Cost Drops to N981 Amid Global Price Decline
The landing cost of petrol in Nigeria has decreased to N981 per litre, down from N1,130, largely due to falling global crude oil prices, with Brent crude trading at $71.41 per barrel. This change coincides with major oil marketers beginning to import petrol and the Dangote Petroleum Refinery increasing local production after years of dependence on imports.
Despite the reduction in landing costs, pump prices remain high, with ex-depot prices varying between N865 and N1,400 across different cities. The Nigerian National Petroleum Company (NNPC) has indicated that petrol from the Dangote refinery will be priced above N1,000 per litre in many northern states.
Ongoing negotiations between NNPC and Dangote reflect the market-driven nature of fuel prices, and there is optimism that costs may decrease further with the expected sale of crude oil starting on October 1, 2024.
Nigerian news analyst, Mahmud Jega, has shared his opinion on the recent airstrike carried out by the United States in Nigeria, stating that Nigerians should not blame President Bola Tinubu for the incident.
Jega made this statement during a recent interview, where he said he does not believe many people will hold the Tinubu administration responsible, as Donald Trump had issued threats against Nigeria long before Tinubu’s administration.
“No, I don’t think many people will blame the Tinubu administration for what is happening now because President Donald Trump, when he first made the threats, it was clearly not in coordination with the Tinubu administration or the government of Nigeria,” Jega said.
It has been reported that the United States carried out an airstrike targeting ISIS in the northwest region of Nigeria. The order was reportedly given by former U.S. President Donald Trump.
“Tonight, at my direction as Commander in Chief, the United States launched a powerful and deadly strike against ISIS terrorist elements in northwest Nigeria,” Trump said.
He added, “I have previously warned these terrorists that if they did not stop the slaughtering of Christians, there would be hell to pay, and tonight, there was.”
The Federal Government of Nigeria has officially declared the holiday dates for the festive season.
Thursday, December 25 will be observed as Christmas Day, December 26 as Boxing Day, and Thursday, January 1 as New Year’s Day.
The declaration was made by the Permanent Secretary of the Ministry of Interior, Dr. Magdalene Ajani. He also added that Nigerians should celebrate the holidays in faith and pray for the nation.
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