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September 6, 2024 Dangote’s Petrol to Hit Market on Sept 15, Pricing Driven by Market Forces — NNPCL
IFMNEWS

Dangote’s Petrol to Hit Market on Sept 15, Pricing Driven by Market Forces — NNPCL

The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol, also known as Premium Motor Spirit (PMS), from the Dangote Refinery will begin entering the market on September 15, 2024. This was disclosed in a statement signed by NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, on Thursday in Abuja. The statement also clarified that the prices of petroleum products would now be dictated by market dynamics.

This follows the recent commencement of refining activities at the Dangote Refinery. NNPCL’s Executive Vice President of Downstream, Adedapo Segun, reiterated that the downstream sector has been fully deregulated, meaning NNPCL will no longer be involved in setting prices. This clarification addresses ongoing speculation that NNPCL would continue to regulate fuel prices despite the deregulation of the sector.

The speculation was further fueled by reports suggesting that NNPCL would be the exclusive distributor of petrol from the Dangote Refinery. However, the company explained that foreign exchange shortages have been a major factor in the fluctuating prices of PMS, which are now determined by free market forces in line with the Petroleum Industry Act (PIA).

Segun noted that the current fuel scarcity should ease within a few days, as more petrol stations recalibrate and resume sales. He highlighted that, under Section 205 of the PIA, the deregulation of the market means that petrol prices are influenced by market conditions, including the exchange rate.

Regarding the Dangote Refinery’s petrol supply, NNPCL is preparing for the expected release on September 15. Segun also emphasized the company's efforts to collaborate with marketers to ensure that fuel stations operate longer hours and meet the nation’s fuel demands. He assured Nigerians that NNPCL is working to prevent product diversions and ensure timely deliveries to stations.

This clarification follows the Federal Government's recent announcement of a substantial petrol supply set to arrive over the weekend, while ruling out any price control on PMS.

September 5, 2024 Clark Urges IG to Arrest Wike Immediately
IFMNEWS

Clark Urges IG to Arrest Wike Immediately

Ijaw leader, Chief Edwin Clark, has called on the Inspector General of Police, Kayode Egbetokun, to arrest the Minister of the Federal Capital Territory (FCT), Nyesom Wike, over his recent threat to ignite violence in states governed by Peoples Democratic Party (PDP) governors.

Wike had issued the warning during the PDP state congress in Port Harcourt, Rivers State, urging PDP governors to stay out of the party's affairs in Rivers.

At a press conference in Abuja on Thursday, Clark condemned Wike's remarks, labeling them as "flagrant disrespect" to President Bola Tinubu, who appointed him as FCT Minister. He described Wike's comments as "unbridled" and argued that they could incite violence, equating them to treason.

Clark also noted that political figures like Omoyele Sowore, the African Action Congress presidential candidate, and #EndBadGovernance protesters had been arrested for similar offenses. He urged the Inspector General to take the same action against Wike and compel him to retract his statement.

September 5, 2024 Building Collapse in Kano Leaves Two Dead, Two Injured
IFMNEWS

Building Collapse in Kano Leaves Two Dead, Two Injured

The National Emergency Management Agency (NEMA) confirmed on Thursday that two people have died and two others were injured after a two-storey building collapsed in Noman’s Land, Fagge Local Government Area of Kano State.

Dr. Nuraddeen Abdullahi, the NEMA Coordinator for the Kano Territorial Office, disclosed the incident to the News Agency of Nigeria (NAN) in Kano. He stated, "The agency received a distress call today at about 2:00 a.m. from a good Samaritan reporting that a two-storey building had collapsed at Noman’s Land Quarters in Kano.

"Upon receiving the information, we promptly dispatched our rescue team to the scene. Four individuals—a husband, wife, and their two children—were rescued by our team. Tragically, the two children were confirmed dead, while the couple was rushed to the Armed Forces Specialist Hospital in Kano for treatment," Abdullahi said.

He added that search and rescue operations are still ongoing to locate any other persons who might be trapped in the building.

According to NAN, the Kano State Fire Service, Police, Red Cross, Nigeria Security and Civil Defence Corps (NSCDC), State Emergency Management Agency (SEMA), and other agencies are part of the search and rescue efforts.

September 5, 2024 Lagos Extends Work-From-Home Policy for Additional Three Months
IFMNEWS

Lagos Extends Work-From-Home Policy for Additional Three Months

The Lagos State Government has extended its work-from-home policy for civil servants in response to the rising cost of living. In a statement released on Wednesday, Lagos State Head of Service, Bode Agoro, announced that the "flexible work initiative" has been extended for another three months to mitigate the impact of the petrol subsidy removal.

"Governor Babajide Olusola Sanwo-Olu has graciously approved the extension of the flexible work-from-home initiative for an additional three months, effective from September 4th to December 3rd, 2024," the statement read.

Agoro also urged all accounting officers to ensure compliance with the directive and promote the policy across the state's civil service.

This extension follows the governor's earlier announcement in February, where workers on grade levels 01 to 14 were permitted to work from home for two days a week, while those on grade levels 15 to 17 were allowed one day of remote work per week.

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