Business
Shehu Sani Compares NNPC and Dangote Refinery to ‘Cain and Cain’ Over Fuel Prices
Amid ongoing debates over the pricing template for petrol, former senator Shehu Sani has drawn an intriguing comparison between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).
Sani remarked that many Nigerians initially saw the relationship between the two as reminiscent of the biblical brothers Cain and Abel, where one would represent good and the other, evil.
However, he suggested that the reality has proven otherwise, with both entities resembling “Cain.”
Taking to social media platform X, Sani posted, “Most people thought that Dangote and NNPC are like Cain and Abel.
Now they found out that they are Cain Junior and Cain Senior,” implying that neither company is living up to the positive expectations of Nigerians.
This reaction comes in the wake of the NNPC’s recent release of estimated petrol prices for September 2024.
According to the state-run oil company, it is purchasing petrol from Dangote Refinery in U.S. dollars, which has significantly influenced the retail price of Premium Motor Spirit (PMS) across Nigeria.
The NNPC stated that the petrol purchased from the Dangote Refinery gantry was bought at N898.78 per litre.
With logistics costs factored in, the price of petrol in Lagos will reach an estimated N950.22 per litre.
In cities such as Abuja, Sokoto, and Kano, prices are expected to be around N999.22 per litre.
Other regions are also grappling with high pump prices. In states like Rivers, Akwa Ibom, Bayelsa, and Imo, fuel is estimated to be sold at N980 per litre.
The highest recorded price is in Borno State, where the cost of petrol is expected to soar to N1,019.22 per litre.
The rising cost of petrol has sparked widespread frustration among Nigerians, who had hoped that the opening of the Dangote Refinery would help stabilize prices.
Many had anticipated that Dangote and NNPCL would work together to alleviate the economic burden on citizens, but the continued rise in fuel prices has led to disillusionment.
Skype, once a go-to platform for video and voice calls, is officially shutting down today, May 5, marking the end of its 22-year journey connecting people around the globe. The app was one of the first to revolutionize online communication, offering free calls over the internet long before it became common.
During its prime in the mid-2010s, Skype boasted over 300 million active users each month. Microsoft bought Skype in 2011 for a massive $8.5 billion, planning to make it a key part of its communication tools. However, as newer apps like WhatsApp, Zoom, and even Microsoft’s own Teams grew in popularity, Skype slowly lost its place.
In February, Microsoft announced it would officially shut down Skype on May 5 to focus more on Teams, which now handles most of its communication services. This move affects both free and paid users, although Skype for Business will stick around for a little longer.
Business
United Bank Of Africa, UBA, Delivers 23% Total Dividend for 2024, CEO Promises More to Come
United Bank of Africa, UBA, pays 171 Billion in total to its shareholders for the 79 percent increase for 2024.
This information was revealed during the 63rd Annual General held on the 25th of April, 2025. The UBA shareholders approved of the 3 naira dividend share, which will com bine with 2 naira interim dividend and will represent a 23 percent total dividend for 2024 in total.
It can be noted that UBA now has the highest Nigerian stocks and the CEO, Oliver Alawuba has assured the shareholders of the dividends that will be paid.”What we can assure our shareholders today is that UBA will continue to pay more dividends.”
It has been reported that Economic and Financial Crimes Commission (EFCC), prepares to look into the recent crash of the popular investment platform, CBEX.
It can be recalled that investment platform, CBEX, recently crashed and caused worry for many users. The public to social media to lament about the crash of the platform and cries out due to their losses.
Popular Nigerian blogger, Innocent Tino shares that he will partner with EFCC for a joint investigation of the downfall of CBEX. It was also shared that a total of #1.3 trillion funds have been lost due to the crash.
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