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JUST IN; Petrol landing cost drops in Nigeria
Nigeria’s landing cost of Premium Motor Spirit (Petrol) dropped to N971 per litre in November 2024.
This is according to the latest data released by the Major Energies Marketers Association.
The figure represents a 20.23 percent drop in the landing cost of imported petrol, compared to N1,219 per litre recorded in August 2024.
The development is attributed to the fluctuations experienced in the Naira-dollar exchange rate and price of crude at the international market.
At the close of work on Friday, the Naira to Dollar exchange rate stood at N1678.87, while Brent crude was $73.63 per barrel, compared to $80.72 per barrel and an exchange rate of N1,611 per dollar in August 2024.
The drop in the landing cost of petrol comes despite the price of the product being sold at between N1060 per litre and N1,200 per litre in Nigerian National Petroleum Company Limited retail outlets and other filling stations.
Recall that the price of fuel had increased from N617 per litre in August 2024 to over N1060 per litre as of November 11, 2024.
Dangote Refinery recently stated that its petrol is sold at ex-depot prices of N960 and N990 per litre for ships and trucks, respectively.
Meanwhile, in a communiqué released by the Nigeria Labour Congress on Sunday, the union said the country’s pump price of petrol is higher than the market value.
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Tinubu decided not to make me Minister – El-Rufai reveals private discussion with the President
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Tinubu decided not to make me Minister – El-Rufai reveals private discussion with the President
A former governor of Kaduna State, Mallam El-Rufai, has claimed that President Bola Tinubu did not want him in his cabinet.
According to him, the National Assembly did not reject him because of a security report from the Department of State Services, DSS.
Speaking on Arise TV on Monday night, El-Rufai said, “Forget what you read. The National Assembly did not reject me. President Bola Tinubu changed his mind about working with me.
“The security thing was a good excuse they used.
“Since then, has anyone released that report telling us the security issue?
“Look, I was minister 20 years ago. I don’t need to be in politics. I have a private life.
“Tinubu appealed to me and begged me. He threw me a challenge that no president has sorted out electricity problems. He said you and I can do it. it was the challenge that made me accept it.
“I had the opportunity to serve my country. The person that gave me took it back and that is not a problem.”
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Housing Minister threatens to decamp from APC over Leadership issue
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Housing Minister threatens to decamp from APC over Leadership issue
The Minister of Housing and Urban Development, Yusuf Abdullahi Ata, says he will resign if the current APC state chairman, Abdullahi Abbas, is re-elected.
Ata made this statement at a press conference in Kano on Monday. He reaffirmed his position, stating he would resign from both his ministerial role and the party.
He said, “This is my position to this day. We oppose the reinstatement of the current APC leadership in Kano, given what happened in the last election.
“We will not accept this situation again. If the leadership remains, I will resign from my ministerial post and leave APC.
Ata emphasised his strong moral values and respect for elders, noting, “We will not compromise our values.”
He expressed concerns over the party leadership’s statements, which he believed contributed to the party’s failure in 2023.
“We must engage individuals of integrity to gain the trust of Kano citizens,” Ata stressed.
He said, “Votes and money do not grant power; only God bestows authority.”
Ata urged politicians from all parties to promote peace, respect each other, and follow the rules. (NAN)
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Tinubu seeks security agencies’ synergy for effective crime-fighting at Senior Police Officers’ Conference
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Tinubu seeks security agencies’ synergy for effective crime-fighting at Senior Police Officers’ Conference
President Bola Tinubu has sought more synergy among security agencies in the country to combat crimes more effectively.
Tinubu, represented by Vice President Kashim Shettima, said this at the opening ceremony of the 2025 Conference and Retreat for Senior Police Officers, held in Abeokuta on Monday.
The News Agency of Nigeria (NAN) reports the programme is themed “Improving Nigeria’s Internal Security and Economic Prosperity Through Inclusive Policing”.
The president noted that synergy among all security agencies remained vital to eliminating banditry, kidnapping, armed robbery, and other forms of criminality.
He stated that internal security was fundamental to creating an environment where businesses and investment flourish.
He added that his administration had prioritised security agencies under operational capability, ensuring they were well-equipped to confront emergencies and effectively combat crime.
The president stressed that the conference’s theme aligned seamlessly with his administration’s core objectives.
“We are committed to fostering economic growth by leveraging the vast potentials of our human and natural resources.
“However, this vision is unattainable without a stable internal security landscape from states under collaboration.
“I reaffirmed our administration’s commitment to enhancing the institutional capacity of the Nigeria Police Force (NPF), ensuring it is more effective and well-positioned to fulfill its constitutional mandates,” he said.
Tinubu noted that the present administration was working to bridge existing security infrastructure and equipment gaps through comprehensive and sustainable programmes.
“The programmes include renovating police barracks, including mobility and upgrading essential combats and protective gears.
“These ongoing efforts, complemented by efforts of state governments, will certainly inspire confidence and reposition the Nigeria Police Force,” he said.
The president mentioned the implementation of the new minimum wage among many others as steps taken to enhance the welfare of Nigerian workers, including police personnel.
“We will continue to collaborate with police leadership to provide financial incentives to motivate officers and all security personnel to perform at their highest level,” he said.
Tinubu explained that his administration remained committed to supporting NPF in meeting up with its crucial role of keeping Nigeria safe and united.
In his remarks, the Inspector-General of Police (I-G), Kayode Egbetokun, noted the gathering served as a crucial platform for assessing the police administrative and operational strategies.
Egbetokun explained that it was also an avenue to exchange insights and realign policing objectives with the nation’s evolving global security landscape.
“Building on the successes of previous conferences, we have undertaken major reforms in investigative procedures, prioritising forensic analysis, digital case management, and improved judicial collaboration.
“The reorganisation of the Force Criminal Investigation Department (FCID) and other specialised units has been a priority, ensuring that our detectives operate in line with globally accepted best practices.
“Moving forward, all commands and formations have been mandated to implement a comprehensive action plan aimed at reducing crime rates by 50 per cent in 2025,” he said.
Gov. Dapo Abiodun of Ogun commended the leadership of NPF for its commitment to protecting the lives and property of Nigerians.
Abiodun reaffirmed that his administration would continue to assist all security agencies in safeguarding a peaceful state. (NAN)
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