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Vision In Motion: Senator Ovie Omo-Agege And The Evolution Of Delta Central

Omo-Agege To Delta Govt: Investigate Attacks, Stop Treating Political Violence As Campaign Strategy

Senator Ovie Omo-Agege has called for an immediate, independent and impartial investigation into two separate attacks on his supporters in...

Oborevwori Advocates Intelligence-Led Governance

News16 hours ago

Oborevwori Advocates Intelligence-Led Governance

Adjogbe Applauds FG Commitment To Reviving Nigeria's Economy

News17 hours ago

Adjogbe Applauds FG Commitment To Reviving Nigeria’s Economy

Delta DPP Urges Complainants To Corporate With State Counsels

Community News4 years ago

JUST IN: Peace Returns To Iwevbo/Ovre-Eku Community

News4 years ago

Okowa Mourns Vincent Ogbulafor

Politics4 years ago

JUST IN: Atiku, Okowa Set To Travel To USA To Unveil Strategies Of Winning 2023 Presidency

Politics4 years ago

2023: APC Has No Plan For Nigeria – Aniagwu

News4 years ago

Pipeline Surveillance Contract: Tompolo Exposes IOCs, Security Operatives, Oil Bunkerers

2023: Nomination Crises Hits 12 PDP State Chapters

Politics4 years ago

LP May Win Enugu Guber, As Suit Seeking Nullification Of PDP Primaries Surfaces

Column4 years ago

Motivated Teachers As Drivers Of Quality Education

News4 years ago

Wike To Political Parties: Don’t Instigate Violence During Campaigns

IPMAN: Nigerians Will Smile Once We Begin Lifting Dangote Petrol The National President, Independent Petroleum Marketers Association of Nigeria (IPMAN), yesterday assured that Nigerians have nothing to worry about immediately the association begins to lift premium motor spirit (PMS) directly from the Dangote Refinery. He said with the sale of crude oil to the refinery in naira, Nigerians would be the better for it. Notwithstanding the IPMAN pronouncement, oil marketers, under the aegis of PETROAN (Petroleum Retail Outlets Owners Association of Nigeria), said they’ll go ahead on continuing the importation of fuel into the country. Nonetheless, Maigandi assured that there was no cause for alarm. He spoke with The Nation while reacting to reports that the Nigerian National Petroleum Company (NNPC) Limited, has officially ended its exclusive purchase agreement with Dangote Refinery, thereby opening up the market for other marketers to directly buy petrol from the 650, 000 barrels per day capacity refinery. Although neither NNPCL nor Dangote Refinery has confirmed nor denied report, the development signifies that NNPC will no longer act as the sole off-taker, allowing marketers to negotiate prices directly with Dangote Refinery.. “This is a welcome development for us (IPMAN), “Maigandi said, adding,“if NNPCL can buy directly, then why can’t we buy directly?; this thing about price shouldn’t be a concern. We are buying petrol at over N800 per litre from NNPC. I don’t want to say much about this but let’s see how everything works out. “The sale of crude oil in naira to Dangote Refinery I believe will make the price to be favourable. We, as IPMAN, are ready for business. Nigerians should not panic about the pricing because immediately we start lifting directly from Dangote Refinery given the naira sales regime, they will laugh, it is a promise,” Maigandi assured. According to him, the independent marketers, prior to yesterday, had not been buying Dangote petrol from the NNPCL because the association was awaiting at what price it would be sold to them. “All the while we haven’t been buying (Dangote petrol) directly from the NNPCL till now because we were still awaiting how they would sell the product from Dangote Refinery to us; so anyhow they want to sell to us is fine, but we prefer taking it directly from Dangote Refinery, that is the best option for us,” he said. The Chief Executive Officer, Center for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, however noted that there is need for more clarification from the NNPCL because it is glaring that as a matter of state policy, there is still some measure of subsidy in the current PMS pricing. This, he argued, was what created a situation where it was only the NNPCL that was buying petrol from Dangote Refinery ab initio and selling to other marketers at a rate that was marginally subsidized. According to Yusuf, it is important to now clarify whether government has now taken a decision to do away with subsidy and expose the citizens and marketers to the full elements of market forces. He argued that Dangote Refinery is a private business entity that obtained loans for its business and has to recoup and repay its creditors. Therefore, he further explained, if all marketers buy directly from Dangote, it means subsidy has been completely removed because it would be sold at market price. The CPPE boss also noted that with the recent policy of crude sale in naira to the refinery, it may be possible for the Dangote refinery to now sell to marketers directly at the same price NNPCL may have been selling to them. “If this can accommodate preserving the price NNPCL was selling to marketers, that will make up for the subsidy that had existed before and that will be great for all,” Yusuf said. Notwithstanding, he made it known that there is a need for policy direction on this development so that there is no confusion that may cause another round of petrol scarcity and create another confusion. “It is important to note that this is not a time to embark on a policy that will further increase the cost of goods and services because the citizens are already over stretched, businesses are suffering inflation is very high. “So from a social perspective, it is not a good policy decision to completely deregulate the prices of petrol at this time because of what Nigerians are going through. NNPC needs to speak out because the more they keep quiet then the more they create room for all manner of innuendos which could also create a lot confusion. It is advisable that government should sustain the marginal subsidy it is giving on petrol in the interest of the vulnerable in the society,” Yusuf said. Meanwhile, petrol marketers under the aegis of Petroleum Retail Outlets Owners Association of Nigeria (PETROAN) yesterday insisted they are currently negotiating to import 100,000 metric tons of the product monthly. According to the association, depending on the domestic refineries for petrol has crippled their businesses to the extent that only 500 out of over 6,000 retail outlets are still operational. The situation may liquidate their businesses and place them under the receivership of their lenders if they do not seek alternatives to Dangote Petroleum Refinery and Petrochemicals that is interested in the export market and the Nigerian National Petroleum Company Limited (NNPCL) that its Port Harcourt Refinery has failed to commence production at the August target. PETROAN President, Dr. Billing Harry made this known to The Nation. “We are exploring the possibility for us bringing our own product. We are advancing on that. We are trying to arrange to bring 100,000 metric tons per month,” he said, adding that the move is still in the pipeline. He explained that his association is tired of depending on the 650,000barrels per day Dangote plant, whose body language has indicated that the company is more interested in the export market. Aside from that, he said the refinery has kept them guessing for too long without communicating its terms of engagement to them. “That is the only option because we can’t depend on Dangote. Dangote clearly has his mind more focused on the export market,” he added. According to him, there was a speculation that the refinery has planned to sell the product to them directly. He wondered why the company refused to inform the marketers since it has the different associations phone numbers. He urged the refinery to partner directly with PETROAN, which has over 6,000 retail outlets. Harry said “NNPCL, from rumour, we are hearing NNPCL is saying he (Dangote) can deal with us directly. That is not the way to work. We should be able to talk to him (Dangote). We should be able to hear from him. There is no need to say we want to sell to you when you can reach us and we can agree or disagree instantly.” Meanwhile, Harry said it was surprising the marketers were yet to get an official communication about the pricing from the refinery. According to him, it was through the rumour mill the members learnt the refinery would sell petrol at N766 per litre. He said surprisingly, the refinery and NNPCL were yet to agree on one pump price. On how the state-owned NNPCL has dashed the high hope of commencing production from its Port Harcourt Refinery in August, he recalled the members were patriotically waiting for Dangote to produce its fuel but since the product cannot get to them they have to seek alternatives. His words: “PETROAN has been in the forefront of insisting that in-country refining of product should be the order of the day. “If we have a petroleum product that is refined in Nigeria and not being able to reach us in distribution, then we have to find alternative methods. “Port Harcourt Refinery we expected and anticipated that at least August we should have started doing public business, we didn’t see that and we also have not heard any definitive and productive business engagement. So when there is that situation, we have over 6,000 retail outlets, out of which number that is doing business is not up to 500. You can say that is a redundant business and before you know our financial partners will start calling for our retail outlets and therefore cripple us. So, if there is any option we can get we have to get it.” NATION

News4 years ago

Obajana: Committee Asks Kogi Govt. To Claim Accrued Dividends From Inception

Politics

APC Set For DTHA Contest In Ethiope East, Abraka Constituencies, As Akpowowo, Erhimedafe Emerge

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APC Set For DTHA Contest In Ethiope East, Abraka Constituencies, As Akpowowo, Erhimedafe Emerge

Dema Consults Labour Party Delta Central Executive In Udu

Politics4 days ago

Dema Consults Labour Party Delta Central Executive In Udu

Uvwie Agog As WANAWANA Project Holds Inaugural Stakeholders’ Meeting

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Uvwie Agog As WANAWANA Project Holds Inaugural Stakeholders’ Meeting

INEC Restores Abraka State Constituency, Two Others In Delta, Reinstates Yagba West II In Kogi

Politics2 weeks ago

INEC Restores Abraka State Constituency, Two Others In Delta, Reinstates Yagba West II In Kogi

Okpobor Hosts APC Iyede Ward 1 Leaders, Says Unity Is Key To Development

Politics2 weeks ago

Okpobor Hosts APC Iyede Ward 1 Leaders, Says Unity Is Key To Development

ADC Presents 'The Great Ogboru Solution' As Blueprint For A New Delta State

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2027 Governorship: ADC Urges Deltans To Back Ogboru, Rescue State

Education

DELSU Begins 2026/2027 Post-UTME Screening, Announces MTN Scholarship Opportunities

Education2 days ago

DELSU Ends Sales Of 2026 Post-UTME Screening Form

DELSU Holds 121st Inaugural Lecture, As VC Hails Atonuje’s Impact As Mathematical Scientist

Education4 days ago

DELSU Holds 121st Inaugural Lecture, As VC Hails Atonuje’s Impact As Mathematical Scientist

*SSANU/NASU Delta State Council Urges Calm As Members Await Implementation Of New Salary Agreement By DTSG*

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SSANU/NASU Delta State Council Urges Calm As Members Await Implementation Of New Salary Agreement By DTSG

Oborevwori To Host Delta Security Summit On Collective Responsibility

Education1 week ago

Peretomode, Muoboghare Head Governing Councils As Oborevwori Announces Appointments For Three Delta Universities

FMC Ovwian Clarifies Recruitment Status, Warns Public Against Fraudsters

Education1 week ago

FMC Ovwian Clarifies Recruitment Status, Warns Public Against Fraudsters

Sex-For-Grades: DOU Probes Lecturer Filmed Dancing After Hotel Sting

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Sex-For-Grades: DOU Probes Lecturer Filmed Dancing After Hotel Sting

Sports

15th Biennial Nigeria Police Games: Delta State Command Notifies Public Of Shooting Event Schedule

Sports6 months ago

15th Biennial Nigeria Police Games: Delta State Command Notifies Public Of Shooting Event Schedule

Oborevwori Condoles Super Eagles Captain, Wilfred Ndidi On Father’s Passing

Sports7 months ago

Oborevwori Condoles Super Eagles Captain, Wilfred Ndidi On Father’s Passing

NPFL Suspends Centre Referee, Assessor, Indefinitely After Kano Pillars Vs Abia Warriors Controversy

Sports7 months ago

NPFL Suspends Centre Referee, Assessor Indefinitely After Kano Pillars Vs Abia Warriors Controversy

AFCON: Eric Chelle Names Osimhen As World’s Best Striker Ahead Uganda Clash

Sports8 months ago

AFCON: Eric Chelle Names Osimhen As World’s Best Striker Ahead Uganda Clash

Onwa D'zemba 2025: Football Fever Grips Awka On December 29!

Sports8 months ago

Onwa D’zemba 2025: Football Fever Grips Awka On December 29!

Team Uvwie Clinch 5th Sheriff Jnr Oborevwori Invitational Tournament Title

Sports8 months ago

Team Uvwie Clinch 5th Sheriff Jnr Oborevwori Invitational Tournament Title

Family And Relationship

More Family And Relationship

More News

News2 years ago

Integrity Group Unveils Programme Of Activities To Mark Oborevwori’s One Year In Office

As part of activities to mark the first anniversary of Governor Sheriff Oborevwori’s administration, the Integrity Group of Delta state, the MORE agenda and You Matter...
Entertainment2 years ago

Liz Benson Returns To Nollywood

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Olukoyede Seeks Review Of BPP Act

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr Ola Olukoyede on Wednesday, May 15, 2024 called for a review of the Bureau...
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Emirates Airline Set To Announce Date To Resume Flights To Nigeria

By Daniel Dafe Minister of aviation and aerospace development, Festus Keyamo, SAN, has said Emirates Airlines was set to resume flight operations to Nigeria. Keyamo who...
Column2 years ago

A Bumpy Ride And Half A Loaf By Sunny Awhefeada

Part of what conditioned our growing up years, in my part of the world, was street wisdom obtained by association with our age mates and those...

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