Business
“Petrol Pricing to be Set by Federal Executive Council” – Dangote
Aliko Dangote, President of the Dangote Group, has disclosed that the pricing of the Premium Motor Spirit (PMS) from his new refinery will be set by the Federal Executive Council, chaired by President Bola Ahmed Tinubu.
In an interview with Channels Television, Dangote shared this development following the announcement of the refinery’s first batch of petrol from its 650,000-barrel-per-day facility, which took place on Tuesday.
He explained that the petrol from the refinery will become available at filling stations within the next 48 hours, contingent on the Nigerian National Petroleum Company Limited (NNPCL).
Dangote also mentioned that discussions are nearing completion between the $20 billion refinery and NNPCL to ensure the product reaches consumers throughout Nigeria.
He emphasized that the Federal Executive Council, under the leadership of President Tinubu, will determine the final price of the petrol.
“The pricing of the PMS is a process managed and approved by the Federal Executive Council, chaired by His Excellency, President Bola Ahmed Tinubu.
Once the arrangements are finalized, which could happen either today or tomorrow following the FEC meeting, we are prepared to launch the product in the market,” Dangote stated.
It has been noted that the National Youth Service Corps (NYSC) and British American Tobacco Nigeria Foundation (BATNF) plan to renew their partnership in agribusiness.
The new project is to involve youth in the agriculture business, widen their horizons, and educate them about the agritech sector.
The general manager shared that “The foundation is not only providing grants but also building a system of mentorship, structure, and support that enables corps members to see agribusiness as a serious enterprise pathway.” The plan is to use the NYSC platform to engage youths.
Idi Mukhtar Maiha, Minister of Livestock Development, has revealed the government’s intention of placing women in the livestock transformation agenda that they have in store for Nigeria.
During a recent event, he praised women, describing them as the backbone of the country, and shared that the country will keep on needing their support, hence the inclusion of the agenda team.
He also praised the First Lady for the impact she has made in the country so far and her advocacy for women’s empowerment.
Nigerians react as a user claims and shares that the price of rice in Nigeria is already reducing.
“Rice prices are finally dropping, minimum wage can buy a bag now. Step by step, we’re getting there. Nigeria will work in our lifetime.”
It can be noted that rice was sold at ₦85k to ₦90k, however, according to a market survey, the price of rice has dropped to ₦56k to ₦62k.
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