Category: 📃Supers News

Secondary school students have captured the attention of netizens with their exceptional and professional sports commentary skills.

In the video, the young boys exuded confidence as they delivered professional commentary on a local football match at their school, matching international standards.

Online users were amazed by their impressive commentary skills, comparing their talent to that of renowned sports commentators Peter Drury and his Irish colleague, Jim Beglin.

Read some reactions below:

Jamila noted: “These kids just beat every African commentary I have ever listened to”

Haleem said: “This is amazing! Peter Drury and Jim Beglin”

Explain stated: “Put these boys in the NPFL commentary booth and aswear I’ll start watching NPFL. So much class!!”

Jedidiah noted: “they don see career already. na to use education nature am to fruition”

Somtex Jordan said: “Well all I can say is that they’re still learning. Not yet at their best but they could actually get there one day”

Ekejohnson stated: “This is the definition of Education. God bless those wonderful teachers.”

Aniekpeno Essien said: “And tomorrow like this, you go hear say them been medical doctor and barrister”

BLITZ wrote: “Wow i am wowed, just wished i am with them and in their level”

Dashing_Wrist claimed: “Omo I feel like watching the match like dis o 😁 😁”

WATCH VIDEO:

Secondary school students doing commentary better than the professionals in Nigerian league 🔥🔥 pic.twitter.com/JKUnJGy7E4

— Kelechi ✌️ (@JustKelechi) May 21, 2024

The Lagos State Police Command says it arrested one Chimereze Chinedu for allegedly defrauding a Thai national to the tune of $216,000 and N30m respectively.

The command’s Public Relations Officer, Benjamin Hundeyin, in a statement made available on X.com on Tuesday, disclosed that the suspect allegedly promised to supply his victim with 37 tricycles which he valued at $216,000.

The suspect in a move to further extort money from his victim was said to have forged letters from the State Criminal Investigation Department to lure his victim into believing that the tricycles were seized by the police.

Hundeyin noted that Chinedu allegedly used the forged documents to obtain another sum of N30m from the victim purportedly to secure the release of the seized tricycles.

He said, “Chimereze defrauded his victim under the pretence of selling 37 tricycles to her. He further expanded his fraudulent activity by forging letters of the State Criminal Investigative Department, Lagos showing that the tricycles were seized by the police and further extorted N30m from the victim to purportedly secure the release of the tricycles.”

The PPRO noted that following weeks of investigation and a collaboration with officials of the International Criminal Police Organisation, “the suspect was arrested on May 10, 2024, in Enugu State.”

The police spokesperson noted that efforts were going on to apprehend other accomplices of the suspect while stressing the command’s commitment to combating internet fraud.

PUNCH Metro reported on Thursday that the Economic and Financial Crimes Commission arrested 15 suspected Internet fraudsters in Zaria, Kaduna State.

A statement released by the anti-graft agency via X.com noted that the suspects were apprehended outside the premises of the Ahmadu Bello University, Zaria, following credible intelligence linking a syndicate of fraudsters to suspected involvement in internet fraud.

Consequently, the EFCC operatives acted swiftly on the intelligence received, leading to the arrest of the suspects in the vicinity of the university.

 

 

Investigators of the Economic and Financial Crimes Commission, EFCC,  Gombe State Zonal Command, have arrested a woman identified as Janty Emmanuel for allegedly abusing the Nigerian currency in the state

Emmanuel was arrested on Monday, May 20, 2024, following intelligence that spotted her spraying Naira notes at a social event.

This was disclosed in a statement issued Tuesday by the commission’s Head,  Media & Publicity, Dele Oyewale.

The statement partly read, “Upon arrest, the suspect was shown the video where she was dancing at G-Connect, Tumfure, Gombe State and spraying Naira notes of N1,000 denomination.

“She admitted committing the crime. She will be charged to court as soon as investigations are concluded.”

For some months now, the anti-graft agency has continued to clamp down on Nigerians who are found guilty of abusing the naira.

In April 2024, the Federal High Court in Lagos State, sentenced controversial crossdresser, Idris Olarewaju Okuneye, popularly known as Bobrisky, to six months imprisonment without the option of a fine for abusing the naira.

Justice Abimbola Awogboro, while sentencing the convict, said the judgment would be a deterrent to others who are found abusing and mutilating the naira.

Before the sentence, Bobrisky had begged the court that he was not aware of the law of abusing the naira.

He said that he is a social media influencer with over five million followers.

The judge then told him that ignorance of the law was not an excuse.

He said, “I know, My Lord. My Lord, I wish that you could give me a second chance to use my platform to inform and educate my followers about spraying money.

“I would do a video on my page and I would educate people about spraying money.

“I will not repeat it, My Lord. I regret my actions, My Lord.”

However, popular celebrity barman, Pascal Okechukwu, popularly known as Cubana Chief Priest, had reached an agreement with the EFCC to resolve the naira abuse charge outside of court.

Cubana Chief Priest appeared before Justice Kehinde Ogundare, facing three counts related to abusing the national currency at a social gathering.

He allegedly sprayed and tampered with the naira notes during a social event at the Eko Hotel in Lagos.

He pleaded not guilty to the charges preferred against him and was granted bail in the sum of N10 million.

 

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Officials of the Department of the State Services, the Dragon Squad, and personnel of the Nigeria Police Force have taken over the complex of the Cross River State Assembly.

This was following the impeachment of the Assembly speaker, Elvert Anyambem.

The PUNCH learnt that Ayambem was impeached over alleged gross misconduct and financial misappropriation.

The move to remove the speaker has been on for some months as members have been expressing displeasure with his conduct and operations of the assembly.

As of Tuesday, over 20 members had signed up for his impeachment, and the motion for his removal was moved on the floor of the House by the member representing Calabar South 1, Effiong Ekarika, and seconded by Charles Omang.

After impeaching him, the mace was taken away by the members.

Details later…

 

Organised Labour has again rejected the latest offer of N54,000 minimum wage made by the Federal Government during the resumed national minimum wage negotiation on Tuesday.

The stalemate resulted in the postponement of the meeting to Wednesday following the inability of the labour leaders and government representatives to reach a consensus.

This was the third time the officials of the Nigeria Labour Congress and the Trade Union Congress and representatives of the government would fail to find a common ground on the national minimum wage.

Last week, the labour leaders walked out of a meeting hosted by the tripartite committee on minimum wage negotiation after the Federal Government offered to pay N48,000.

At the same time, the Organised Private Sector made an initial offer of N54,000 in response to labour’s proposed N615,000.

The National President of the NLC, Joe Ajaero, insisted on N615,000 minimum wage, arguing that the amount was arrived at after an analysis of the current economic situation and the needs of an average Nigerian family of six.

He accused the government of failing to provide any substantiated data to support its offer, noting that this undermined the credibility of the negotiation.

To bring back labour to the negotiation table, the Chairman of the Tripartite Committee on National Minimum Wage, Alhaji Bukar Goni, informed the group that the government had agreed to raise the N48,000 it earlier proposed.

However, at the Tuesday meeting, the government proposed N54,000 but labour insisted on its N615,000 living wage demand.

Labour officials, who were privy to the negotiation, said the Federal Government increased its offer from N48,000  to N54,000.

The sources declined to be quoted because they were not permitted to disclose the details of the negotiation to the media.

N54,000 offer

One of the officials said, “Well, during the meeting, the government increased its offer from N48,000 to N54,000. However, labour rejected that offer and the meeting has been adjourned to Wednesday (today).’’

Another source stated, “They didn’t show any seriousness at all. As regards the private sector, we did not get to them before the meeting was adjourned but we hope they would also increase their initial offer.”

Also, speaking anonymously, a top labour leader noted that the government was ashamed about its offer   “Because it knew it was not realistic and it knew it was not going to be accepted.’’

“They knew it was embarrassing to offer workers that kind of paltry sum. Negotiation has not started; negotiation can only start when the government shows seriousness in negotiating,” he stated, warning state governors and the OPS.

He added that organised labour could not negotiate wage reduction because private sector workers were receiving N77,000.

Ajaero and Usifo could not be reached for comments on the stalemated meeting as calls to their phone rang out. They did not respond to messages seeking their comments on the development.

But the Deputy President of NLC Political Commission, Prof. Theophilus Ndubuaku, told The PUNCH that the Federal Government was deliberately frustrating the Nigerian workers.

Ndubuaku stated that the government was not showing empathy despite knowing that the masses were struggling to adjust to the hardship and inflation occasioned by its policies.

He said, “We are worried about this government. It was as if we were negotiating with people who were not Nigerians. They are behaving like expatriates or people from outer space. We don’t understand.

“They were offering N54,000 as the minimum wage as if they were expecting us to negotiate a deregulated salary structure. As it is now, nobody is earning anything below N77,000.

“You recall there was N30,000 minimum wage plus the N35,000 they added as wage award. Before that time, there was a 40 per cent increase in the existing wage making the whole thing N77,000. Now, imagine how they are now offering us something far lower than what workers are expected to take home.’’

He added, “Imagine if we walk out of that negotiation agreeing to such terms, will Nigerian workers not mob you? This government doesn’t know the implications of what they are doing.

“It has never happened anywhere in the world before where everything including foodstuff is increasing and you are concentrating on wage decrease in a country where hardship is hitting everybody. To us, it looks like these people are either joking or they are from outer space.”

On the next course of action being considered by the NLC following the fiasco, Ndubuaku said the unions are returning to the negotiation table on Wednesday from where they would decide whether to tell workers to stay back home until the Federal Government comes up with an acceptable offer.

“The Plan B is that we have adjourned till tomorrow (today). But if they continue with this joke, the workers themselves will give them the answer to that joke.

“We will have to tell them that we didn’t succeed and everybody should sit at home. That is the way it is going to be until they wake up,” he stated.

The Federal Government could not be reached for comments as the Minister of Information, Mohammed Idris, did not return calls and a message sent to his line.

Group faults govt

Commenting on the stalemate, the Campaign for Democratic and Workers’ Rights described the N48,000 and N54,000 minimum wage proposals by President Bola Tinubu-led government and the OPS as a huge joke.

The CDWR in a statement by its National Chairperson, Rufus Olusesan  and National Publicity Secretary, Chinedu Bosah, observed that the N48,000 offered by the Tinubu-led government was a natural response  “from a government whose agenda for growing the exploitative capitalist economy is to further enrich the privileged-few and pauperise the working masses.’’

The group stated,  “The capitalist government and the private company owners have always stated that there is no money to pay workers a living wage, but money is readily available for frivolities, profligacies, insane privileges and payment of jumbo salaries and allowances to top political office holders and management staff.

“SUV cars were bought for N57.6bn  by National Assembly members.  This is one of the numerous examples of profligacies that have become the hallmark of the capitalist ruling elite. While workers earn their wages through their productivity, the capitalist ruling elite are parasitic on the economy.’’

The CDWR said the NLC and TUC leadership got it wrong when it refused to resist ‘’the anti-poor neo-liberal policies and instead sought to secure some remedy for Nigerian workers through wage review.’’

 

 

Nigerian lady known as Margaret Oyibo Atayi has reportedly ended it all after she became depressed over her failed marriage.

Sources online have reported that the mother of two who hails from Benue State’s Ugbokolo Local Government Area was discovered dead three days later after her family reported her missing,

Before her demise, on Friday, May 17, 2024, about three in the morning, she was last seen in the vicinity of City College of Education, Abacha Road, Mararaba, Nasarawa State.

Since then, all attempts to find her have been unsuccessful; However, on Monday, May 20, her sister Ochanya Chelle revealed that she had been found dead.

It was gathered that her father, Mr. Patrick Atayi, disclosed that she committed suic..id.e after falling into depression due to her marital crisis.

“Margaret was a mother of two children. She has been in depression for some time now due to mistreatment by her husband

“She went out on that fateful Friday morning by 3am without the knowledge of anybody. Her body was discovered in the late hours of Monday, and every available evidence confirmed that she committed suicide,” he said.

Additionally, a source reportedly close to the deceased speaking to Idoma Voice Newspaper said …

“This is very unfortunate. In an effort to search for her, I reached out to her father and discovered that she was a mother of two children and that she went into depression for some time, which led to her going out that Friday night at 3 am without anyone’s knowledge, resulting in this unfortunate incident. Please, no one should die in silence, no matter the situation you find yourself in. Please speak out; you could be helped and overcome it. Nothing is worth taking your life for or dying for. Above all, embrace God and enjoy the peace of God.”

Refer to post below …

 

The Federal Government (FG) has dismissed the planned alliance between former Vice President Atiku Abubakar and former Governor of Anambra State, Peter Obi.

According to the Presidency, President Bola Tinubu is not bothered about the planned alliance, noting that the President was not losing sleep over alliance plots by Atiku and Obi.

Atiku had contested the presidency in 2023 on the platform of the Peoples Democratic Party but lost. Obi also contested as a presidential candidate on the platform of the Labour Party and came third in the election.

Last week, Obi held a private meeting with Atiku and some other PDP leaders in Abuja. Obi also met separately with former Jigawa State Governor Sule Lamido and former Senate President Bukola Saraki, sparking speculations about a possible coalition for the 2027 general elections.

However, in an interview on Friday, Atiku stated that if the PDP decided in 2027 that it was the South-East’s turn to field the presidential candidate and selected Obi, he would readily offer his support.

“I have said repeatedly, and I even said it before the 2023 general elections, that if the PDP decides to zone the presidential ticket to the South, or South-East specifically, I won’t contest it. As long as it’s the decision of the party, I will abide by it. I contested the 2023 presidential ticket, because it was thrown open to all members of the party.

“If the party decides that it’s the turn of the South-East, and Peter Obi is chosen, I won’t hesitate to support him,” Atiku declared in a recent interview with BBC Hausa Service.

He added that a merger between the PDP and LP was possible. Atiku stressed that party members would decide their fate in the 2027 general elections. The former Vice President mentioned that his recent meeting with Obi might indicate a possible alliance leading up to the 2027 general elections.

Responding to questions about the meeting with Obi, Atiku said, “It was just a normal friendly meeting that we often have, particularly among us in the opposition parties. Such meetings are healthy for Nigeria’s democracy and in the country’s interest.”

On whether it would bring about a merger, he said, “Yes, it’s very much possible. We can merge to achieve a common goal. So, it’s possible, and nothing can stop it if we wish to achieve that.”

Atiku, who denied that the choice of presidential candidate might frustrate the merger discussion, said, “That is not true. That challenge will not arise. I can tell you that the choice of who will fly the flag of the party won’t be an issue.”

On why he was still in active politics, Atiku said, “We can’t keep quiet and watch things go wrong. People are suffering, and we are committed to making Nigeria a better place.

“I am still in active politics in Nigeria; at least, as long as God permits.

“My age doesn’t stop the young ones from trying their luck. Everybody, irrespective of age, is allowed to aspire to be anything in society, politically or otherwise.”

Regarding his 2027 presidential ambition, the former Vice President said, “That would depend on the decision of my party. I can’t make any categorical statement on that. It is the duty of the party to decide on the way to go in the next election.”

Tinubu unbothered – FG

Reacting to the planned alliance, the Minister of Information, Mohammed Idris, said the Federal Government was not worried about the planned merger or alliance. According to him, anybody could decide to collaborate and meet.

He stated that the question, for him, was what happened after the talk and numerous meetings. The minister stressed that Tinubu’s works would speak for him in the next election cycle in 2027.

“The government is not thinking about them at all. We are focused on delivering on the mandate handed over to President Bola Tinubu. With the good works the government is doing, he is already the toast of Nigerians.

“So, they will continue to support him. Just a few days ago, the Federal Government inaugurated three critical gas infrastructure projects in Imo and Delta states to drive the country’s gas sector. The projects are the ANOH-OB3 CTMS gas pipeline and ANOH gas processing plant in Assa, Ohaji/Egbema in Imo State.

“The President also inaugurated the expansion of the AHL gas processing plant 2 gas project in Kwale, Delta State. The social security programme is ongoing. The Compressed Natural Gas project is there as well. Dry farming initiatives have taken root, and so many other projects that will benefit Nigerians are either ongoing or in the pipeline.

“Tell me, how will the meeting of those two men be an issue? No, we are not worried at all. The government of President Tinubu is focused and not disturbed,” he said.

Atiku, Obi sore losers – Presidency

Also reacting, a senior presidential aide, Bayo Onanuga, speaking on Saturday, said President Tinubu and his administration were not bothered by the politicking going on by Atiku and ‘his gang of desperadoes’.

He said, “We are only surprised that they are plotting just one year after an election they lost. They are still behaving like sore losers.

“We are not bothered by the games they are playing, as they are revealing their mindset. They are mere politicians who only think about the next election.

“President Tinubu is a true statesman who is concerned about fulfilling his promises to Nigerians.

“At the moment, he is very busy resetting the economy of our country for the better, laying the foundation that ought to have been laid decades ago.”

APC won’t lose sleep over PDP-LP alliance

The Deputy National Organising Secretary of the APC, Nze Chidi Duru, welcomed the idea of a rumoured merger, saying it will help to further deepen the concept of democracy in the country.

Duru, however, expressed reservations that the duo’s dream could become a reality.

He said, “It is good for democracy. It will give Nigerians more options to choose from. For me, I am up for anything that will deepen democracy, other than the usual ones we have been having.

“However, I doubt if such an arrangement could come to fruition.”

Also speaking, the National Publicity Director of the APC, Bala Ibrahim, said the ruling party was not losing sleep over Atiku and Obi’s ‘unholy alliance’.

He said, “In a democracy, meetings between politicians are not forbidden. As long as their meetings are not designed to derail democracy, there is nothing wrong with that. Obi’s meeting with Atiku and others is nothing to make the APC lose its sleep. You talked about the party being under pressure. How? These are parties that are increasingly losing grip and support. They are probably in a panic situation.

“Now, they want to sit and look at what to do to increase their support base ahead of 2027. But, that is too long a time to go. We don’t talk about crossing the bridge until we get there. By that time, if they feel like coming out to merge, that will even be better for democracy. But, whatever they resolve by 2027, we are going to beat them hands down.”

Experts weigh in

Also commenting on the development, the President, National Political Scientists Association, Professor Hassan Salisu of the University of Ilorin, said while a possible alliance could not be entirely ruled out between the two men, the internal crisis and divisions gripping the PDP and LP may frustrate their efforts to wrest power from the ruling APC in 2027.

“The PDP, as it is currently constituted, is factionalised. Getting to a level where a consensus will be reached might be a bit difficult. And, given the fact that Obi is in another party, how are we sure the structure of the PDP will agree that Obi should fly the party’s ticket in the next presidential election?

“Will all Atiku’s supporters be in a position to back Obi? Will all the ‘Obidients’ align themselves with Obi’s move to the PDP? What will be the reaction of the other factions in the PDP? What will be the position of Wike’s group in the PDP? What of the Northern elements in the party? The red flags are quite much.

“I think the assumption is that Atiku is in total control of the party, but the reality on the ground suggests that this may not be the situation. What I am saying essentially is that there are so many ‘ifs’. These are issues that one cannot answer categorically. Perhaps, we will say it is an unfolding event. Let’s wait and see. But, for analytical purposes, there are so many obstacles on the way for Obi to emerge as PDP’s presidential candidate,” Professor Salisu stated.

Also reacting, Professor of Political Institutions and Comparative Politics at the Department of Political Science, Usman Dan Fodiyo University, Sokoto, Yahaya Baba, described Atiku and Obi’s meeting as an indication of a strong alliance that would greatly shape the 2027 presidential election.

He said, “The meeting is an indication that what happened in the build-up to the 2015 presidential election is likely going to happen soon. This is because the two leading political figures in the country, who came second and third in the last election, are now talking to themselves. They were allies before now. But, because of the crisis in the PDP, Obi decamped and joined the LP. The votes he and Atiku polled in the last election are significant. So, if they are discussing and forming an alliance, we are likely going to see a very big political force like what happened with the APC in 2014.”

Sharing his thoughts on the APC’s position on the alliance and its possible impact ahead of the 2027 presidential poll, he said, “They (APC) can say that naturally. But, remember that in 2011 and 2014, both Muhammadu Buhari and President Bola Tinubu were losers as the Action Congress of Nigeria, All Nigeria Peoples Party, and Congress for Progressive Change all failed. But, when they came together, they were a very strong force. So, what APC is saying is just to demonise and rubbish a likely strong move that is coming from the two political figures.”

In a similar vein, another political analyst, Jackson Omenazu, said the alignment of the PDP and LP will pose a serious threat to the ruling APC ahead of the 2027 poll.

He said, “We should expect some political marriages in the polity come 2027. There will be alignment and realignment. If Peter Obi goes back to the PDP, or if the Labour Party has an agreement and aligns with the PDP and both parties zone their presidential tickets to the South East, it will be a welcome development. This is because if the PDP zones their ticket to that side as Atiku Abubakar said, he has no choice but to support it. After all, the party’s decision is supreme.

“That will be the best thing to happen to the PDP if they field from the South-East. The amalgamation of the PDP and Labour Party will cause a serious political storm in the polity if it is actualised. We need a very strong and viable opposition in the country, because opposition is the opium of any democracy. So, there is an absolute need for opposition. Such a political marriage and understanding is not a bad one.”

Omenazu, who is also the Chancellor of the International Society for Social Justice and Human Rights, added that the Igbos should be given an equal chance to rule Nigeria, noting that such representation was part of the national restructuring the people were clamouring for.

“No matter how we structure this country, the Igbos have the right to the presidency. They should be allowed to do their best. More essentially, there is a need for restructuring. That is the best way we can authoritatively run this country like a united nation,” he added.

 

 

The organisers of the CIO & C-Suite Awards Africa, Edniesal Consulting, announced on Tuesday the expansion of its awards to 11 countries, aiming to recognise and celebrate executive leaders driving technological innovation across the continent.

Speaking at a press conference in Lagos, the Chairman of the Board of Directors of the CIO & C-Suite Awards and CIO Club Africa, Oluwakayode Adigun, said the latest edition would surpass the previous edition.

According to him, the 5th edition of the awards will now cover Ghana, Rwanda, Senegal, Tunisia, South Africa, Uganda, Kenya, Morocco, Egypt, Zambia, and Nigeria.

The awards celebrate the achievements of CIOs, CTOs, CDOs, CISOs, and IT heads delivering exceptional results in their industries.

“Last year, we visited five African countries: Ghana, Kenya, Egypt, South Africa and Senegal. Then, after the feedback we had from different quartets, this year we decided to visit more African countries. So, this year, we are doing 11 and Nigeria,” he stated.

The awards ceremony will be held on November 30, 2024, at the Civic Centre in Lagos, featuring a conference and two sessions with industry leaders and innovators from across the continent.

Awards will be presented in various categories, reflecting different aspects of technological innovation and leadership excellence.

However, Adigun stated that the 5th edition would go beyond awarding the regular technical leaders.

The chairman stated that the awards would highlight leaders who have made significant contributions to their industries by leveraging technology for extraordinary business outcomes and fostering innovation.

He expounded, “We are looking at different executive positions that are involved in implementing innovations around technology.  What we are trying to achieve as an objective is to create a niche and ecosystem for the African community where we can have innovations that can compete with global companies like Microsoft and Cisco.”

Speaking of partnerships, Adigun said, “It’s been a journey. We didn’t do this alone, we have partners, sponsors and collaborators across diverse sectors of society. We have banks, fintechs, and manufacturing companies in and out of Nigeria working with us.”

The Convener of the CIO & C-Suite Awards and CIO Club Africa, Abiola Laseinde, remarked that the expansion to other countries underscores Edniesal Consulting’s commitment to promoting technological advancement and leadership excellence across Africa.

Laseinde stated that the event includes networking opportunities, entertainment, business partnerships, and prospects.

She emphasized the global recognition of digital technology leaders’ transformative impact across different industries.

According to her, winners at the event will gain exclusive membership to The CIO Club Africa (TCCA), which focuses on upholding ethical standards, fostering growth, and facilitating knowledge sharing.

“TCCA actively organizes round table meetings, seminars, and conferences to educate the public and sustain industry excellence,” Laseinde stated.

The convener emphasised the integrity and professionalism embedded in the selection process.

“Everything we do in terms of selection is incredibly laced with integrity and professionalism. If you are going to project your winners, you expect them to compete favorably with others from other parts of the world. As we speak, ours is entrenched in a fantastic governance structure,” Laseinde stated.

“We have processes and standards that guide the selection, which has given us the confidence to expand. We are not the ones who select the winners; we have incredible judges with high expertise who assess every submission,” she added.

The Chief Digital Transformation Officer at Polaris Bank, Dele Adeyinka, asserted that the program has helped propel participants to be more innovative.

 

The price of Automotive Gas Oil, popularly called diesel, produced by the Dangote Petroleum Refinery has increased from N940/litre to N1,100/litre due to the crash of the naira against the United States dollar, it was gathered on Tuesday.

Recall that on April 24, 2024, The PUNCH reported that the Dangote refinery announced a further reduction in the prices of diesel and aviation fuel to N940/litre and N980/litre respectively.

Earlier, precisely on April 17, The PUNCH reported that the Dangote refinery listened to the calls of oil marketers regarding a reduction in the price of diesel, as the refinery reduced the cost of the commodity from N1,200/litre to N1,000/litre.

In about a week, the multi-billion dollar facility again announced another reduction in the price of AGO but noted at the time that the change was only applicable to dealers purchasing up to five million litres of diesel and above.

However, it was gathered on Tuesday that the cost of diesel from the plant had increased from the N940/litre price that was announced by the plant in April to a new rate of N1,100/litre. Some other dealers who purchased lesser volumes said they got the product at N1,200/litre.

Oil marketers told our correspondent that the hike in diesel price by the $22bn worth refinery located in Epe, Lagos, was due to the recent southward movement of the naira against the dollar.

“The refinery had earlier reduced the price of its diesel to around N940/litre, but it later increased it up to N1,100/litre. This happened recently, maybe about two weeks ago,” the National President, of the Independent Petroleum Marketers Association of Nigeria, Abubakar Maigandi, stated

He explained that the Dangote refinery imports crude oil, stressing that crude is priced in dollars.

“So the recent rise in the foreign exchange rate is going to have an impact on the prices of refined products from the plant,” Ukadike stated.

In March and April this year, the naira appreciated against the United States dollar, a development that had marginal positive impacts on the cost of commodities.

The PUNCH, for instance, reported on April 16, 2024, that the naira continued its resurgence against the dollar, appreciating N1,136/$ at the official market and N1,050/$ at the parallel market at the close of trading activities the preceding day.

The report stated that traders predicted the dollar’s fall to below N1,000 before the end of that week.

The improved rate at the time followed a string of foreign exchange directives by the Central Bank of Nigeria aimed at stabilising the naira.

The apex bank in March said it had successfully resolved all valid foreign exchange backlogs, as pledged by the CBN Governor, Olayemi Cardoso, addressing inherited claims amounting to $7bn.

But the improvement in the naira could not be sustained, as the local currency came crashing against the dollar in subsequent weeks.

The naira has traded above N1,400/$ for most of May. The PUNCH, for instance, reported on May 8, 2024, that operators revealed that they bought the dollar at N1,400 and sold at N1,425 per dollar leaving a profit margin of N25.

This, according to the report, also indicated an N5 drop from the N1,430 it sold the preceding day.

The recent crash of the naira against the dollar warranted a rise in the cost of diesel dispensed by the multi-billion dollar Dangote refinery, according to marketers.

The refinery imports a large portion of its crude and the commodity is priced in dollars.

It was reported last week that the Dangote refinery was seeking to purchase millions of barrels of US crude oil over the next year as it ramps up processing rates.

Bloomberg reported that the plant had issued a term tender for the purchase of two million barrels a month of West Texas Intermediate Midland crude for 12 months starting in July.

“The plant, built by Africa’s richest man, Aliko Dangote, issued a so-called term tender for the purchase of two million barrels a month of West Texas Intermediate Midland crude for 12 months starting in July, according to a document seen by Bloomberg. The tender closes on May 21,” the report stated.

Petrol price projections

Meanwhile, oil dealers, on Tuesday, welcomed the announcement that was recently made by the President of Dangote Group, Alhaji Aliko Dangote, when he announced that the Dangote refinery would start pumping out Premium Motor Spirit, popularly called petrol, to the domestic market.

It was reported on May 18, 2024, that Dangote explained that following the laid-down plans of the Dangote refinery, Nigeria would no longer need to import petrol starting from next month.

Dangote also stated that his refinery can meet West Africa’s petrol and diesel needs, as well as the continent’s aviation fuel demand.

He spoke at the Africa CEO Forum Annual Summit in Kigali, expressing optimism about transforming Africa’s energy landscape.

“Right now, Nigeria has no cause to import anything apart from gasoline (petrol) and by sometime in June, within the next four or five weeks, Nigeria shouldn’t import anything like gasoline; not one drop of a litre,” Africa’s richest man had declared.

Reacting to this on Tuesday, oil marketers welcomed the comment, but expressed hopes that the cost of PMS from the refinery should be less than the price which the Nigerian National Petroleum Company Limited is currently selling.

“It is a welcome development if the refinery can start releasing PMS by June because as marketers we are currently set to start buying the product from the plant,” Maigandi stated.

On whether dealers had commenced discussions with the refinery on PMS pricing, the IPMAN president said marketers had been discussing with the manager of the plant, but not specifically on petrol pricing.

“We have been discussing, but not about the price of petrol yet, rather on other matters such as the registration of members for the purchase of petrol and diesel from the refinery.

“We have indeed started buying diesel from them, but you have to register with the company first. So a general registration is ongoing,” he explained.

Maigandi, however, stated that though marketers had yet to receive the projected price for petrol from the plant, dealers would want to see a PMS price of about N500/litre from the Dangote refinery.

“We are looking at having it (PMS) at any price below the NNPC rate. The price which NNPC sells petrol is N565.50/litre, so we are expecting something below that price, maybe around N500/litre or a maximum of N600/litre,” Maigandi stated.

He was supported by Ukadike, who stated that the cost of PMS from the multi-billion dollar refinery should be less than what is currently obtainable in Nigeria.

The 210,000-barrel-per-day Port-Harcourt refinery may finally commence operations by the end of July after several postponements.

The new date was disclosed on Monday by the National Public Relations Officer, Independent Marketers Association of Nigeria, Chief Ukadike Chinedu.

He stated that the development would stimulate economic activities, reduce the price of petroleum products and ensure adequate supply.

Last year in December, the Minister of State for Petroleum Resources, Heineken Lokpobiri, announced the mechanical completion and flare start-off of the biggest crude refinery in Port Harcourt.

The refineries comprise two units, with the old plant having a refined capacity of 60,000 barrels per day and the new plant has 150,000 BPD.

The refinery shut down in March 2019 for the first phase of repair works after the government secured the service of a technical adviser of Itay’s Maire Tecnimont to handle the reviews of the refinery complex, with oil major Eni appointed technical adviser.

On March 15, 2024, it was reported that the Group Chief Executive Officer of NNPC Limited, Mele Kyari, stated that the Port Harcourt refinery would commence operations in about two weeks.

The 210,000-barrel-per-day Port-Harcourt refinery may finally commence operations by the end of July after several postponements.

The new date was disclosed on Monday by the National Public Relations Officer, Independent Marketers Association of Nigeria, Chief Ukadike Chinedu.

He stated that the development would stimulate economic activities, reduce the price of petroleum products and ensure adequate supply.

Last year in December, the Minister of State for Petroleum Resources, Heineken Lokpobiri, announced the mechanical completion and flare start-off of the biggest crude refinery in Port Harcourt.

The refineries comprise two units, with the old plant having a refined capacity of 60,000 barrels per day and the new plant has 150,000 BPD.

The refinery shut down in March 2019 for the first phase of repair works after the government secured the service of a technical adviser of Itay’s Maire Tecnimont to handle the reviews of the refinery complex, with oil major Eni appointed technical adviser.

On March 15, 2024, it was reported that the Group Chief Executive Officer of NNPC Limited, Mele Kyari, stated that the Port Harcourt refinery would commence operations in about two weeks.

The NNPC boss disclosed this during a press briefing after he appeared before the Senate Ad hoc committee investigating the various turnaround maintenance projects of the country’s refineries.

He said, “We did a mechanical completion of the refinery that was what we said in December. We now have crude oil already stocked in the refinery. We are doing regulatory compliance tests that must happen in every refinery before you start it, and I assure you that this Port Harcourt refinery will start in two weeks.”

However, the machinery had yet to begin operations two months after he made the promise.

In an exclusive interview on Monday, the IPMAN official stated that the work done represented a complete turnaround, not just rehabilitation, emphasising that every effort would be made to meet the July deadline.

Ukadike said, “Yes when we visited the place, the MD told us that the refinery was almost ready and by the end of July, they would start producing. It has been turned into a new one they changed all the armoured cable to brand new and everything there is almost like a brand-new refinery.