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Breaking : Dangote refinery, paying in Dollars for the September 2024 petrol offtake and Naira transactions will commence on October 1st, 2024, Says NNPC

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The Nigeria National Petroleum Company Limited has released another version of the breakdown of the estimated price of petrol bought from the Dangote refinery.

Newsthumb earlier reported that in a statement on Monday morning, the NNPC gave a chart breakdown of the refined petrol product it bought from the refinery on Sunday, September 15.

The nation’s oil firm stated that it is paying the Dangote refinery in United States dollars for the September 2024 petrol offtake, adding that Naira transactions will only commence on October 1st, 2024.

The statement reads, “The NNPC Ltd. has released estimated prices of Premium Motor Spirit (PMS), also known as Petrol (obtained from the Dangote Refinery) in its retail stations across the country.

“The estimated prices are based on negotiated terms between NNPC Ltd. and Dangote Refinery which recognise the current international gasoline prices and the prevailing foreign exchange rate in line with the provisions of the Petroleum Industry Act (PIA) 2021.

“The NNPC Ltd. can confirm that it is paying Dangote Refinery in USD for September 2024 PMS offtake, as Naira transactions will only commence on October 1st, 2024.

“We reassure Nigerians that any discount from the Dangote Refinery will be passed on 100% to the general public.”

While the data of the estimated price to be sold around the country remains the same, the analysis of the transaction it had with Dangote Refinery was altered.

While the first press statement on Monday had a Nigerian Midstream and Downstream Petroleum Regulatory Authority fee of ₦8.99, the second statement showed ₦4.495.

The first statement had an inspection fee of ₦0.97, a margin fee of ₦26.48 and a distribution fee of ₦15.

In the second statement on Monday, there were no inspection and margin fees, while the distribution fee was changed to ₦42.45.

The second statement also had an additional Midstream and Gas Infrastructure Fund fee of ₦4.495.

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Update : Road Crash: Anthony Joshua Hospitalised, Two Confirmed Dead — Ogun Police Spokesperson

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Former heavyweight champion Anthony Joshua has been hospitalised after a road accident in the Makun area of the Lagos-Ibadan Expressway, Ogun State.

Ogun State Police Public Relations Officer, Babaseyi Oluseyi, confirmed this in a statement.

The incident occurred shortly after 11 am on Monday.

Our reporter, who was at the scene, said the crash happened just before the Danco Filling Station in Makun, ahead of the Sagamu Interchange on the Ibadan-bound axis.

Adeniyi Orojo stated that the Lexus Jeep carrying Joshua, with number plate KRD 850 HN, collided with a stationary truck.

The eyewitness revealed that Joshua sustained minor injuries, while two others died at the scene.

“It was a two-vehicle convoy: a Lexus SUV and a Pajero SUV. Joshua was seated behind the driver, with another person beside him. A passenger sat beside the driver, making four occupants in the Lexus that crashed.
His security detail followed in the vehicle behind.

“Other eyewitnesses and I began the rescue and flagged down oncoming vehicles for help. Minutes after the crash, Federal Road Safety Corps officials arrived. The passenger beside the driver and the person beside Joshua died on the spot,” he said.

In a statement sent to Newsthumb on Monday, Oluseyi confirmed that Joshua and other injured persons were involved in a car accident and rushed to an undisclosed hospital.

He said, “The Ogun State Police Command confirms a road accident today in front of Sinoma, before Danco, along the Lagos–Ibadan Expressway. Anthony Joshua and other injured persons have been rushed to the hospital.

“Further updates will be communicated.”

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Tinubu Leaves Nigeria for Europe, UAE to Attend ADSW 2026 Summit, Says Onanuga

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President Bola Ahmed Tinubu departed Lagos on Sunday, December 28, for Europe, continuing his end-of-year break and ahead of his official trip to Abu Dhabi, in the United Arab Emirates.

His Highness Sheikh Mohamed bin Zayed AlNahyan, President of the United Arab Emirates, has invited President Tinubu to participate in the 2026 edition of Abu Dhabi Sustainability Week (ADSW 2026) Summit, which will take place in the emirate early in January.

The weeklong summit is an annual event that mobilises leaders from government, business, and society to chart the next era of sustainable development.

With the theme “The Nexus of Next: All Systems Go”, ADSW will connect ambition with action across innovation, finance, and people, showcasing how the world can move forward with confidence.’

The President will return to the country after the Summit.

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BREAKING: Fayose Alleges N45.5bn from N50bn Ibadan Explosion Fund Diverted by Makinde for Political Ambitions

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Former Ekiti State Governor, Ayo Fayose, has released what he described as documentary evidence to support his claim that Oyo State Governor, Seyi Makinde, received N50 billion from the Federal Government as a special intervention fund following the January 2024 explosion in Ibadan.

Fayose made the documents public on Sunday in a statement accompanied by a memo from the Office of the Accountant-General of the Federation.

He said the disclosure followed a challenge by Makinde to substantiate his earlier claim that the Oyo State Government received the funds.

“Two days ago, I stated on national television that Oyo State under Governor Seyi Makinde received N50bn from the Federal Government as intervention for the Ibadan explosion. Yesterday, the governor asked me to provide evidence, and here is the evidence he requested,” Fayose said.

The former governor further alleged that only N4.5 billion was disbursed to victims of the explosion, accusing Makinde of diverting the remaining funds for personal political ambitions.

“Only N4.5bn was paid to victims of the Ibadan explosion. The rest, alongside other intervention funds, was diverted to fund his presidential ambition. This, in part, explains the crisis in the PDP and his frequent attacks on President Bola Ahmed Tinubu and his administration,” he alleged.

Fayose further said he was compelled to release official documents, despite his reluctance to do so, in the interest of transparency and public accountability.

“Even though it is not in my character to go public with official government documents, I had to do this so Nigerians will know who is saying the truth and who has not been sincere with the people of Oyo State,” he said.

The former governor said that Makinde’s alleged disclosure of detail from private meeting with President Tinubu made fuller public disclosure necessary.

He challenged the governor to take legal action if he believed the allegations were false, insisting that he had sufficient proof to defend his claims.

“I challenge Governor Seyi Makinde to sue me on this. There are also proofs of other intervention funds received from Tinubu’s administration by the Oyo State Government which the governor refused to disclose to the people,” he said.

He further claimed to have documentary evidence of Oyo State’s actual Internally Generated Revenue, contrary to figures publicly stated by Makinde, noting that he would release the details at a later time.

“There are documentary evidences on the actual Internally Generated Revenue (IGR) of Oyo State, as against Governor Makinde’s claim, but we will keep our gunpowder dry for now.

“My name is still Ayo Fayose. I don’t say what I can’t prove,” he said.

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