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Reasons Lagos Government Urges Youths to Join Military
Why FG Predicts Thunderstorms Nationwide Over the Next Three Days
Why the FearlessinOctober Protest Didn’t Succeed by Kenechukwu Aguolu
Access Bank Announces Temporary Service Disruption for System Upgrade
Why NNPC Increased Petrol Prices and Stepped Back from Its Role with Dangote On October 7, news broke that the Nigerian National Petroleum Company (NNPC) would no longer act as the sole off-taker for Dangote Refinery’s products. Insiders revealed to TheCable that this role had become an “unbearable burden” for NNPC, especially as it grapples with a $6 billion debt to international fuel suppliers. The financial pressures facing the company have significantly impacted its ability to ensure a consistent petrol supply. In a recent Bloomberg interview, Aliko Dangote, chairman of Dangote Industries Limited, called on the federal government to eliminate fuel subsidies, labeling them as unsustainable. Consequently, NNPC will now allow other marketers to purchase fuel directly from the Dangote refinery at market prices, a move that the government had initially sought to avoid. On September 14, the federal government had mandated that the refinery sell exclusively to NNPC, with independent marketers required to acquire petrol through the national oil company. However, the House of Representatives criticized this setup on September 26, urging the government to permit independent marketers to purchase directly from the refinery. With NNPC stepping back from its distribution role, insiders anticipate a rise in petrol prices at gas stations across the country, as additional costs will likely be passed on to consumers. However, there is hope that as the market opens up, competition will help stabilize prices and supply chains in the coming days.
Boko Haram Loots Nearly Half of Farmers’ Crops in Borno, Says Senator Ndume
Avoid These 5 Jobs Abroad: A Nigerian’s Cautionary Advice
Turkish Airlines Flight Makes Emergency Landing in New York After Pilot Dies Mid-Flight
NDLEA Eliminates Husband’s Approval Letter Requirement for Married Women’s Visa Applications
A Man’s Shocking Wedding Day Revenge: Exposing His Fiancée’s Betrayal
How This Canadian Woman Found Love in Nigeria: A Heartfelt Journey
Federal Government Responds to Fuel Price Surge: “We Are Not to Blame”
Tiwa Savage Shocks Fans with Bold Tattoo Reveal on TikTok Live
Burna Boy Responds to Uju Stella’s Pregnancy Claims in New Interview
Uche Secondus Lauds Governor Fubara for His Resilience Against Political Pressure
Supreme Court Set to Rule on the Constitutionality of Controversial Federal Laws in Landmark Case
Four Suspects Arrested for Alleged Armed Robbery of Katsina POS Agent
Dangote: Africa’s Future Oil Wealth Being Spent Today – A Call for Change
How Femi Falana’s Free Legal Help Saved Blogger VeryDarkMan from Defamation Charges
LP Leadership Dispute: Usman Challenges Abure’s Victory and Plans Appeal
Rivers State Crisis: PDP Defends Fubara, Slams Wike’s Criticism
Northern Youths Rally Behind FIRS Chairman Zacch Adedeji, Dismiss Smear Campaign as Futile
Japa: Prioritize National Pride Over Financial Incentives,” Says Akpabio on Emigration
Four Cultists Killed While Trying to Kidnap Foreigner; Police Investigate Gruesome Murder of Teen
How Petrol Prices Set to Hit N991.21/Litre as NNPC Exits Off-Taker Role
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