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Petrol price to drop further as Warri refinery commences operations – Marketers
Petrol price to drop further as Warri refinery commences operations – Marketers
Oil marketers and the Nigerian Midstream and Downstream Petroleum Regulatory Authority have said the prices of refined petroleum products are to drop further following the commencement of operations at the Warri Refining and Petrochemicals Company Limited.
Dealers in the downstream oil sector said competition in the space would now be stiffer, as domestic refiners would be forced to reduce prices to get buyers.
They stated this on Monday following the announcement by the Nigerian National Petroleum Company Limited that the 125,000 barrels per day WRPC in Delta State had commenced operations.
NNPCL also announced plans to begin the export of locally refined products to foreign countries in exchange for foreign currency.
According to Punch the development comes barely a month after the commencement of operations at the 60,000 barrels per day-old Port Harcourt Refinery in Rivers State.
During an inspection tour of the facility on Monday, the NNPCL Group Chief Executive Officer, Mele Kyari, explained that the inspection aimed to show Nigerians the level of work completed so far.
Kyari, addressing a tour team, which included the Chief Executive Officer of NMDPRA, Farouk Ahmed, and the NNPC Board Chairman, Pius Akinyelure, noted that the repairs on the facility were not yet 100 per cent complete, but refining operations had commenced and would focus on producing straight-run kerosene, diesel, and naphtha.
However, President Bola Tinubu, in a statement celebrating the milestone, said the facility is operating at 60 per cent, representing 75,000 barrels per day capacity.
Kyari said, “We are taking you through our plant. This plant is running. Although it is not 100 per cent complete, we are still in the process. Many people think these things are not real. They think real things are not possible in this country. We want you to see that this is real.”
He stated that the restart of the Warri refinery will help the nation become a net exporter of petroleum products, as some of these products will be sent to the international market.
“Secondly, this plant had three stages; we have started plant one, which we call Area One. It’s able to produce AGO (diesel), kerosene, naphtha, and a blend of crude oil. These are high-grade quality products that are required in the country, and we may need to export them. So this will give us cash, this company will make money and the promise of Mr President that this country must be a net exporter of petroleum products is already happening. Some of these products will go into the international market.
“Most importantly, I must put on record that Mr President believes that we can get this to work and get them to start and gave us the charge that we must start all three refineries. It’s already happening; we have started the 60,000 barrels per day refinery, and Area One of the Warri refinery is already working. Other plants that would produce PMS are being streamed and they would also come alive.
“Lastly, the Kaduna refinery is also on stream. We are not going to give you a date, but we would surprise Nigerians as we did the other day, and Kaduna would start operations. We thank Mr President for supporting us all the way through. I must congratulate our team for their determination and extreme belief that this country can restart this plant. This has brought this result in collaboration with our contractors and our entire staff. I would like to thank them and appreciate them for making history and that it’s possible to start a plant that you deliberately shut down. It’s possible and we have proved it,” he added.
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BREAKING; Killing: University closed down by School’s Management over students’ protest
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BREAKING; Killing University closed down by School’s Management over students’ protest
The Management of the Federal University Dutsinma (FUDMA) in Katsina State has announced a one-week Mid-Semester break starting from Feb. 24.
The closure of the school followed a protest embarked on by the students on Sunday after they alleged that the Civilian Joint Task Force (JTF) had shot to death one of their colleagues.
The News Agency of Nigeria (NAN) reports that the students’ protest continued Monday morning.
Reports indicated that the JTF members on Sunday shot the student, alleging that he was an informant.
The FUDMA Vice Chancellor, Prof. Armaya’u Bichi, announced the decision of the Senate to close the school in a statement issued in Katsina on Monday.
Bichi further advised the students to leave campus before 6.00 p.m. on Feb. 24.
“The Management wishes the students a happy and peaceful mid-semester break,” he said. (NAN)
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Controversy as Ganduje, Senate Deputy President attend NNPP Senator’s family events in Kano
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Controversy as Ganduje, Senate Deputy President attend NNPP Senator’s family events in Kano
Prominent members of the All Progressives Congress (APC), such as National Chairman Abdullahi Ganduje and Deputy Senate President Barau Jibrin, recently attended a prominent opposition senator’s private ceremonies in Kano, sparking political controversy and speculation.
Prior to the 2023 elections, Senator Kawu Sumaila, who is currently the representative for Kano South in the New Nigeria People’s Party (NNPP), made news when he left the APC after a protracted leadership dispute inside the party.
His recent choice to invite APC members to his family gatherings has drawn criticism, with many speculating about the political ramifications.
On Friday, Jibrin, who led a delegation of federal lawmakers, confirmed their attendance at the wedding of Sumaila’s children, which took place in Sumaila town, Kano State on February 21.
The wedding united Dr. Khadija Suleiman Abdulrahman Kawu Sumaila with Faisal Abdulmanaf Sarina, and Maryam Abdulrahman Kawu Sumaila with Bello Ibrahim Ma’aji, in a ceremony officiated by Professor Salisu Shehu, Imam of Sumaila Jumaat Mosque.
Jibrin’s statement also highlighted the attendance of Dr. Abdullahi Umar Ganduje, the APC National Chairman, who joined the festivities and offered blessings for the newlyweds.
“May Allah bless their union and give them patience, endurance, tolerance, and love. Congratulations to the newlyweds,” Jibrin added in his post.
The following day, both Jibrin and Ganduje were present at the first convocation of Al-Istiqama University, a private institution reportedly founded by Senator Sumaila in the Sumaila Local Government Area. This further fueled speculation about the growing relationship between the APC and the NNPP senator.
Within the NNPP, these moves have sparked unease, with many members expressing concern over Sumaila’s increasing openness to opposition figures. There are growing rumors that Sumaila may be contemplating a return to the APC, especially as he continues to distance himself from NNPP leader Rabiu Kwankwaso and Governor Abba Yusuf of Kano.
The senator’s tensions with the state government have been well documented, especially over the controversial reinstatement of the deposed Emir of Kano, Lamido Sanusi, and the repeal of the 2019 State Emirate Council Law, which had consolidated power in five emirates.
The involvement of APC heavyweights at Sumaila’s events, including former Kano governor Ibrahim Shekarau of the Peoples Democratic Party (PDP), has left many questioning the senator’s allegiance.
With his history of disagreements with the state government, particularly over the dissolution of emirates created under Ganduje’s administration, there’s increasing speculation that Sumaila may once again align with the APC.
Should Sumaila make the move back to the APC, he would join a growing list of opposition lawmakers defecting to the ruling party, further shifting the political dynamics in Kano.
The NNPP, which currently holds the title of Nigeria’s fourth-largest party in terms of parliamentary representation, has been struggling to maintain its influence in Kano—the only state it governs.
While NNPP’s 2023 presidential candidate Rabiu Musa Kwankwaso managed to secure a victory only in Kano, a potential shift in allegiance by Sumaila could mark a significant blow to the party’s already fragile standing.
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“President Tinubu’s economic reforms making positive impacts”
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“President Tinubu’s economic reforms making positive impacts”
The National Chairman of All=the Progressives Congress (APC), Dr Abdullahi Ganduje, has extolled the ongoing economic reforms being implemented by President Bola Tinubu, saying that they were already yielding positive results.
Ganduje made this statement during an empowerment programme’ organised by the Deputy Senate President, Barau Jibrin, where 1,200 vehicles and motorcycles were distributed to party leaders on Sunday in Kano.
He lauded the administration’s commitment to restructuring Nigeria’s economy, saying that the reforms have brought about greater stability.
“Under President Tinubu’s leadership, we have witnessed substantial progress in revitalizing the economy.
“These efforts are already yielding results, including improved infrastructure, job creation, and growth across various sectors.
“The recent reduction in food prices, the drop in petrol costs, and the appreciation of the naira are all direct outcomes of these reforms,” he explained.
According to him, the president holds Kano in high regard, which was why he appointed them to key positions.
They included the National Chairman of the ruling party, Deputy Senate President, two Ministers, Director-General of the National Productivity Centre and the Chairman of the Federal Mortgage Bank, among others.
Ganduje commended Barau for his efforts in establishing the North-West Development Commission and expressed gratitude to the president as well.
The national chairman called on the people of the state to support the administration of Tinubu.
He also said that the distribution of vehicles and motorcycles was aimed at enhancing the socioeconomic well-being of the people, particularly party members.
The gesture, he said, was also expected to promote the party’s noble ideas.
Earlier, Jibrin said that the initiative was aimed at empowering the members of the APC to achieve the party’s set objectives.
He stated that the motorcycles would be distributed to all APC ward and local government Chairmen in the 44 LGAs in the state.
The deputy senate president also said that a special package for youths ,women, teachers, students and other stakeholders would soon commence.
He said that it was aimed at ensuring the public benefits from the dividends of democracy.
“We are also planning to empower university graduates who have not secured white-collar jobs.
“Three graduates will be selected from each local government and will receive a loan of five million Naira to start small businesses,” he added
Barau stated that Ganduje’s leadership style had significantly strengthened the party, positing that under his guidance, the party had achieved a remarkable progress.
He also commended the president for his reforms aimed at advancing the country.
Jibrin burged the party’s members to unite in support of the president’s efforts to move the nation forward.(NAN)
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