Business
Petrol Prices Surge to N950 per Liter in Katsina as Average Hits N770.54
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.
Aliko Dangote speaks on his lineage and addresses not having a son as he was asked about not having a son to carry his name and achievements.
“That is not my priority because God controls everything. You can pray for God to give you a son, but he might be the one to take down the name of the family.”
Instead, he shared that he does not mind not having a son. “I don’t think a son would have done better than the three daughters I have.”
Aside from that, he was also asked about giving advice to young Nigerians. “Work hard, be consistent, focused and know what you want to do.”
It can be reported that following Aliko Dangote’s investment opportunity, some investment platforms are experiencing huge traffic, causing their platforms to become slow and go down.
Two platforms openly announced their issues. Bamboo said “Hey everyone, we’re getting a much higher than expected traffic trying to get into the Dangote IPO and it’s making it difficult for some users to log into the Bamboo app. We’re working on a fix and it will be up and running shortly.”
Cowrywise also said “We’re currently seeing more traffic than usual on the Cowrywise app. Our team is already on it and working to get things back to normal. Thanks for your patience, everyone.”
Nigerian economist Bismarck Rewane advises Nigerians financially, sharing that Nigerians should engage in the Dangote Refinery initial public offering (IPO). He stated that it was a good investment.
He shared “You are better off with your N5,000 share than selling your PVC for N10,000 or N15,000 and consuming it,” Rewane said.
“If you can get 10 million shareholders to participate in the IPO, the Dangote Refinery will have the largest number of shareholders in the world,” he said.
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