Petrol Sells at N1,065 in Abuja, N998 in Lagos After NNPC-Dangote Deal Collapse

NNPC Limited retail stations and independent outlets started selling petrol as high as N1,065 per litre in Abuja, and N998 in Lagos among other new prices across Nigerian states, on Wednesday.

This price hike came after NNPCL ended its exclusive purchase deal with the Dangote Refinery, 

The decision to set these new prices was reached through a joint review between NNPCL and independent fuel marketers.

Prior to this, Premium Times had revealed  that NNPCL quit its exclusive supply deal with Dangote, paving the way for marketers to negotiate prices directly with the refinery.

The quoted prices are between N1,030 and N1,065 per litre in Abuja, N998 at NNPCL stations in Lagos, N1,025 in other southwest states, between N1,060 and N1,070 in northeastern states, and between N1,055 and N1,075 south-south states.

Since the Dangote Refinery began operations in May, its relationship with NNPCL has been rocky. According to Aliko Dangote, CEO of Dangote Group, NNPCL lost it's 20% stake in the refinery after failing to meet financial obligations.

NNPCL later claimed it intentionally reduced its stake based on internal assessments.

There has also been some back-and-forth over petrol pricing. Dangote Group initially  stated that NNPCL had full authority to set prices, but it retracted that statement.

The regulator quickly clarified that, in a deregulated market, prices are dictated by market forces, not NNPCL.

In July, the Federal Executive Council (FEC) stepped in directing both parties to resolve their differences.

By September, NNPCL estimated that petrol prices would be N950.22 in Lagos and N992.22 in Abuja based on its negotiations with the refinery.

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

“NNPC Ltd. can confirm that it is paying Dangote Refinery in US [dollars] 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.”

NNPCL began lifting petrol from Dangote Refinery on September 15, and the breakdown of their exclusive agreement has now influenced the latest price review.

When Engr Dr. Funmi Ayinke Hosts Mr Nigeria International, Ajewole Emmanuel In Abuja

 

The path to greatness is about great associations. Engr. Dr. Funmi Ayinke is one-of-a-kind and indeed a person of virtue. The quintessential philanthropist accepted the request of the Mr. Nigeria International team for a courtesy visit and made it a point of duty to be responsible for the hospitality of the team for the days spent in the Federal Capital Territory (FCT), Abuja.

On Day one of the visit, the Mr. Nigeria International (MNI) team was warmly received by Dr Funmi Ayinke’s team at Nnamdi Azikiwe Airport in Abuja.

The team was conveyed in an escort to the hotel location on journey which took about one-hour. The Mr. Nigeria International team settled into the hotel to prepare for the first event of the day.

Engr. Dr. Funmi Ayinke was not on seat this particular evening however the MNI team was treated with utmost hospitality as they were welcomed with a delicacy from Engr. Funmi Ayinke’s Kitchen. The MNI team was given a tour around the office of Dr. Funmi Ayinke.

This was as an opportunity to meet with the staffs of Funmi Ayinke Nigeria Limited which included;

The MNI team proceeded to the studio of Funmi Ayinke records and it was indeed a pleasure to meet with the Legendary Music artiste Tunde TDot of Styl-plus, and other artistes under the record label – Yung mela (Obekpa Moses), Conffygold (Bamiduro Odunayo), Minstrelchux (Nwokukwu Chukwudi). The team had a good time in the studio and it was said that both parties might meet the following fay to create good music. The day ended with lots of laughs and good conversation, the MNI team were ushered back to their hotel to have a great evening relaxation.

The MNI team retreated after for full preparation for Day 2.

Day two started blissfully as super woman Engr. Dr. Funmi Ayinke herself was on seat to receive the team. The MNI team was seated at the reception ready to be attended to while the Patron walked-in in her beautiful White top and Red Palazzo pant trouser looking dazzling as ever. It was a blessing indeed as coincidentally a large percentage of the team were wearing white also.

The delectable super woman, Dr. Engr Funmi Ayinke received the MNI warmly with full arms stretched wide. Coincidentally, the Rector of Ilaro polytechnic, Architect Aluko, and his management team were also present on this day to meet in person with Engr. Dr. Funmi Ayinke. It was a great opportunity to for the MNI team to meet with these guests and have their blessings as well.

The MNI team went ahead to present the Award of excellence to the great humanitarian Dr. Engr. Funmi Ayinke for her contributions to the lives of youth and to the society at large. She was elated and expressed her excitement as the presentation was carried out by Mr. Nigeria international and asked for the Rector and his team to join helped with this presentation.

The team went ahead to present other branded items to the Engr. Dr. Funmi Ayinke and she received them with much excitement. This was followed with the presentation of Mr. Nigeria International proposal of support for the Ecuador trip for Mr. and Miss. Ultracontinental.

She made a joke of “AJE” coming to visit her, which represented the initials of Mr. Nigeria International and Miss. Nigeria International Culture. She declared her support and took responsibility for a section of the proposed budget. The whole team leaped for Joy and expressed excitement over this information. A co-engineer in practice and Managing Director of one of the leading construction firms in town also promised to support a section of the trip to Ecuador for the Mr. and Miss. Ultracontinental competition.

She also promised to actively partner the initiative of Mr. Nigeria International 2021/2022 the Make-A-Difference initiative (M.A.D) through her humanitarian foundation “Funmi Ayinke Humanity foundation”.

Dr. Engr. Funmi Ayinke ushered the MNI team to the studio and the team spent the rest of the afternoon making good music that was recorded and mastered by the legendary Tunde Tdot.

The MNI team retreated to the hotel to prepare for the dinner hosted and planned by Engr. Dr Funmi Ayinke and her despicable team. To grace this dinner is the maestro musician, Jaywon, Yung mela, Conffygold, Minstrelchux, Tunde Tdot, and all staff of the Funmi Ayinke Nigeria Limited.

The dinner started out beautifully as the table was set and all kinds of cuisines were made available. The MNI team and staffs of the Funmi Ayinke Nigeria Limited were jollying to the songs of Yung mela and Conffygold of Funmi Ayinke records.

The patron in her regal walked in and joined in jollying with the team before taking her seat at all. While dancing was going, the Legendary Jaywon also put up a beautiful performance which made everyone put on their dancing shoes.

We saw a performance of Engr. Dr. Funmi Ayinke, Jaywon, and Tunde TDot of their own song titled “I can make it” and “Obirin” remix respectively. on the team presented a framed photo of Engr. Dr Funmi Ayinke. Again, she was excited and everyone in the team and all staffs took pictures with the woman with a heart of gold.

The team retreated to the hotel to prepare for departure the next morning. The courtesy visit to Engr. Dr. Funmi Ayinke was indeed a success and the MNI team is grateful for the hospitality and ever-loving support of the great humanitarian and her team.

The OFFICIAL MNI TEAM THAT MADE THE TRIP

AJEWOLE EMMANUEL ODUNAYO: MR. NIGERIA INTERNATIONAL.

AJEWOLE EMMANUEL AYOBAMI: PERSONAL ASSISTANT

AMB. BRENDA NNSIKAK: BRAND C.E.O

TONTA AITUAJE WASHINGTON: MISS NIGERIA INTERNATIONAL CULTURE

ADEBUNMI A. AKINBO: OPERATION MANAGER

MR. SHYNE GABIENU: MEDIA PHOTOGRAPHER

ELIZABETH OMOBANKE OGUNSINA – SECRETRY TO MR. NIGERIA INTERNATIONAL.

Outrage As A Bag Of Beans Hits N100,000

 Following the recent hikes in food price in Nigeria, it is safe to say that more Nigerians will be afflicted by hunger and malnutrition as food prices continue to spike, market survey indicating that a bag of beans now sells for as high as N100,000.

On a monthly basis, prices of food items appear to be rising in major cities in Nigeria. For example, the prices of beans have gone up over the last one month compared to previous months.

A bag of beans sold at N30,000 in early September now costs between N50,000 and N100,000 in early October.

In a market survey by People Gazette across Abuja, Lagos, Port Harcourt, Bauchi, and Bayelsa, showed that the prices of beans have doubled in the past weeks.

The price of a big bag of beans, the ‘oloyin’ variety, ranges from N88,000 to N100,000, while ‘plastic rubber’ cost between N3,500 and N5,500. Another beans variety, ‘drum’, cost between N80,000 and N95,000, while the ‘plastic rubber’ cost N3,000 or N3,500. A big bag of white beans cost between N50,000 and N60,000, while the ‘plastic rubber’ price could be N2,500 or N3,000.

The prices of other staple foods such as rice, yam, egg, garri, groundnut, and maize are also on the rise. Groundnut oil cost N27,000 for 50kg and N5,400 for 5kg. A bag of rice cost N30,000 and N4000 for ‘plastic rubber’. A bag of garri was priced at N16,000.

In August, food inflation rose to 21.03 per cent due to the hike in local food items. The inflation growth and depreciation of the naira against the dollar have put pressure on the prices of commodities consumed by Nigerians, with prices of foods constantly changing.

The current realities are forcing many households further down the depth of hunger and malnutrition.

Abuja: World Trade Center On Fire

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Rotimi Amaechi Says Abuja Rail Can’t Run Faster Than 90km/h "Because We Don’t Want To Kill Cows"

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Abuja Protest: Police Summon Saraki, Melaye, Others

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Exclusive! Photos: Comedian Acapella Survives Car Accident

Comedian Acapella was rescued from the hands of death on his way back from Abuja at about 5pm yesterday

A source said the comedian was on his way to the Abuja airport coming back to Lagos when he had the accident along side the Uba driver who was driving him to the airport.

"He was on his way back to Lagos from Abuja, he just went off the phone when he noticed that the driver was struggling with the steering,  and the last thing he remembered was calling Jesus and that was it". The source said

According to his Publicist who confrimed the report said:

"Yes, he had an accident but to the glory of God, he is doing fine, and same with the Uba driver,  he sustained some injury and he is presently receiving treatment, we wish to inform his fans that he is doing just fine"

Acapella just had a successful comedy show "My Mic and I"