Nigeria ranks 5th in countries with cheapest Petrol in Africa

Posted on January 18, 2025 by Newsaccessadmin

The retail price of Premium Motor Spirit, (Petrol), increased to between N1030 and N1,150 per litre on Friday, January 17, following a hike by Dangote Refinery and ex-depot prices of the product.

Dangote Refinery had announced a fresh ex-depot price hike from N899 per litre to N955 per litre through an email sent to customers .

The email confirmed the new price regime, noting that marketers buying between two million and 4.99 million litres would now buy at N955/litre, while five million litres and above would buy at N950/litre.

This represents a N55 or 6.17 percent petrol price increase from N899.50/litre announced as a holiday discount for Nigerians last December.

Dangote Refinery’s petrol price increase had sparked different degrees of retail price adjustment across filling stations.

However, Nigeria is still one of the countries with the cheapest fuel in Africa, according to GlobalPetrolPrices.com.

Here are the top 10 African countries with the cheapest fuel at the start of 2025.

1. Libya

Libya remains the leader in the African fuel price rankings, with a litre of fuel costing $0.030. This low price is largely due to the country’s rich oil reserves, which make up a significant portion of its economy.

2. Angola

Angola follows closely with a price of $0.328 per litre. As one of Africa’s top oil producers, Angola has a large share of the global oil market.

The country’s reliance on oil exports helps maintain relatively low domestic fuel prices, providing an economic advantage for its citizens.

Read Also: Petrol price rises to N1,150 per litre after Dangote Refinery’s hike

3. Egypt

Egypt is another country where fuel remains affordable, priced at $0.336 per litre. The country has seen substantial investment in its oil and gas sector in recent years, and the government provides subsidies to maintain lower fuel prices for the public.

4. Algeria

Fuel in Algeria costs $0.339 per litre. The country’s vast oil and gas resources contribute to these low prices, and the government continues to subsidise fuel costs, which helps support local economic stability.

5. Sudan

Sudan’s fuel price is $0.700 per litre, which is still quite low compared to global standards. While Sudan faces economic challenges, it benefits from domestic oil production, though it has struggled with fluctuations in oil output and the impact of external factors on fuel prices.

6. Nigeria

Nigeria, Africa’s largest oil producer, offers fuel at $0.769 per litre. Despite being one of the continent’s top oil exporters, the country’s fuel prices are impacted by fluctuating global oil prices, governmental policies, and the local economy. While the price is relatively low by international standards, it reflects the challenges Nigeria faces in balancing domestic supply and demand.

7. Tunisia

In Tunisia, fuel is priced at $0.794 per litre. The country has limited domestic oil production but benefits from access to regional markets and government subsidies that help control fuel prices. However, economic pressures mean that prices may fluctuate over time.

8. Ethiopia

Ethiopia, with a price of $0.805 per litre, ranks eighth on this list. While the country is not a major oil producer, it imports most of its fuel, but government efforts to stabilise prices help keep costs low for consumers.

9. Liberia

Liberia’s fuel price is $0.829 per litre. The country relies on imports to meet its fuel needs, and while domestic production is limited, low prices are maintained through government policy and external trade agreements.

10. Gabon

Gabon, with a price of $0.944 per litre, rounds out the top 10. As an oil producer with significant reserves, Gabon benefits from relatively low fuel costs compared to other countries on the continent. However, fuel prices are still higher than those in nations with larger oil production capacities.

Petrol price rises to N1,150 per litre after Dangote Refinery’s hike

Posted on January 18, 2025 by Newsaccessadmin

The retail price of Premium Motor Spirit, (PMS), has increased to between N1030 and N1,150 per litre following a hike by Dangote Refinery and ex-depot prices of the product.

Dangote Refinery on Friday announced a fresh ex-depot price hike from N899 per litre to N955 per litre.

Dangote Refinery through an email sent to customers confirmed the new price regime, noting that marketers buying between two million and 4.99 million litres would now buy at N955/litre, while five million litres and above would buy at N950/litre.

This represents a N55 or 6.17 percent petrol price increase from N899.50/litre announced as a holiday discount for Nigerians last December.

Dangote Refinery’s petrol price increase had sparked different degrees of retail price adjustment across filling stations.

The spokesperson of the Independent Petroleum Marketers Association of Nigeria, Chinedu Ukadike, confirmed that the product may sell above N1,100 per litre across members’ filling stations nationwide.

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“Commuters will likely pay over N1,150 per litre at faraway locations, while locations close to the depot will pay N1,100. This is because we will add about N50 logistics costs. Currently, ex-depot prices have increased to N980.

“This change is immediate because crude oil price increase, too, is immediate,” he stated.

Meanwhile, the president of the Petroleum Products Retail Outlet Owners Association of Nigeria, Billy Gillis-Harry, said although it is too early to project petrol retail price after Dangote Refinery’s upward price review, it is certain that the product would cost more.

“Because right now, we still have an obligation with the MRS to be selling at N935, and some of us bought products there.

So, if they change their prices because of the Dangote price, then the conversation will be different.\

“After the price of buying, there must be the price of logistics. Once that is computed, we can then look at what is the most humane profit margin,” he stated.

Some filling stations in the federal capital territory, Abuja, had already effected at least a N50 adjustment to their petrol prices.

For instance, those selling on Friday morning at N980 per litre have increased to between N1040 and N1,155 per litre.

Meanwhile, the Nigerian National Petroleum Company Limited (NNPCL) retail outlets still sell petrol at 965 per litre as of Friday evening.

Lagos Assembly names new principal officers

Posted on January 17, 2025 by Newsaccessadmin

The Lagos State House of Assembly has named four new principal officers following the impeachment of the former Speaker, Mr Mudashiru Obasa, on Monday.

The Speaker, Mrs Mojisola Meranda (APC-Apapa 1), made this known on Friday while presiding over plenary as the new speaker.

The News Agency of Nigeria (NAN) reports that Mr Mudashiru Obasa was impeached on Monday over alleged gross misconduct by 32 out of the 40 members.

The Clerk of the House, Mr Lekan Onafeko, was also suspended over alleged gross financial impropriety.

NAN reports that the House also dissolved all the standing committees inaugurated by the former speaker.

According to Meranda, the announcement of new officers is as a result of the change of the leadership of the House.

Read Also: LASTMA rescued 1,075 from road crashes in 2024 – GM

“The House has named Mr Temitope Adewale (APC-Ifako-Ijaiye 1) as the new Majority Leader, while Mr Adedamola Kasunmu (APC- Ikeja 1) is the new Deputy Majority Leader.

“This House has also named the Chief Whip, Mr Setonjo David (APC-Badagry 2), while the Deputy Chief Whip is now Mr Babatunde Saani (APC-Kosofe 2),” she said.

NAN reports that before Obasa’s impeachment, Mr Mojeed Adams was the Majority Leader, while Adedamola Kasunmu was the Deputy Leader.

Mr Mojeed Adams, the new Deputy Speaker, was the former Chief Whip, while Setonji David was the Deputy Chief Whip.

NAN reports that three lawmakers (Obasa, Adams and Mr Akinsanya) were absent at the first plenary presided over by the new leadership.

(NAN)

Haaland signs new Manchester City deal until 2034

Posted on January 17, 2025 by Newsaccessadmin

Manchester City striker Erling Haaland has signed a new long-term deal with the club that will keep him at the Etihad until 2034.

The Norwegian joined City from Dortmund in 2022 and has scored 111 goals in 126 games for the club since.

The striker’s previous deal, which reportedly included a release clause, had been due to expire in 2027.

Haaland’s new deal would see the striker remain with City until his 34th birthday should he stay at the club until its expiry in nine-and-a-half years’ time.

“I am really happy to have signed my new contract and to be able to look forward to spending even more time at this great club,” said Haaland.

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“Manchester City is a special club, full of fantastic people with amazing supporters and it’s the type of environment that helps bring the best out of everybody.

“I also want to thank [manager] Pep [Guardiola], his coaching staff, my team-mates and everyone at the club as they have all helped me so much in the past couple of years.”

Txiki Begiristain, City’s director of football, said: “The fact he [Haaland] is signed for so long demonstrates our commitment to him as a player and his love for the club.”

BBCSport

LASTMA rescued 1,075 from road crashes in 2024 – GM

Posted on January 17, 2025 by Newsaccessadmin

The Lagos State Traffic Management Authority (LASTMA) has rescued 1,075 lives from road accident across the state 2024.

The General Manager, Mr Olalekan Bakare-Oki, said this in a statement made available to the News Agency of Nigeria (NAN) on Friday in Lagos.

The statement was signed by Mr Taofiq Adebayo, Director, Public Affairs and Enlightenment Department of LASTMA.

Bakare-Oki attributed the achievement to the authority’s unwavering dedication to preserving lives, optimising traffic flow, and executing timely interventions throughout Lagos State.

He added that the agency proficiently addressed 2,051 road traffic incidents, encompassing an astonishing 3,754 vehicles.

“These incidents were meticulously categorised as 143 fatal accidents, 502 severe accidents and 1,406 minor accidents.

“This monumental achievement underscores LASTMA’s pivotal role in curbing fatalities and mitigating the grievous repercussions of road mishaps,” he said.

He said that in tandem with its accident response efforts, LASTMA skillfully resolved 5,108 cases of vehicular breakdowns, underscoring its operational dexterity and technical acumen.

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“The breakdown cases comprised: 423 cars, 746 buses, 219 SUVs, 1,649 trucks, 400 tankers, 535 trailers and 1,118 others.

“LASTMA’s prompt intervention ensured timely relief for stranded motorists, effectively averting potential traffic bottlenecks and secondary accidents,” he said.

He noted that as part of its commitment to fostering proactive public engagement and enhancing service delivery, LASTMA inaugurated a toll-free hotline (080000527862).

This, he said, enabled Lagos residents to report traffic obstructions, vehicular breakdowns, emergencies, and the conduct of LASTMA personnel.

“The hotline received 3,567 calls across multiple languages, including English, Pidgin, and Yoruba.

Of these calls over 3,450 cases were expediently resolved, while remaining 117 cases were escalated for further attention.

“Additionally, the launch of the Physical Complaint Centre recorded 2,056 physical cases, of which 1,968 were successfully addressed, with 88 cases transferred for advanced resolution.

“These pioneering platforms have significantly bolstered LASTMA’s capacity to respond swiftly to crises and address public grievances, further entrenching its reputation as a responsive and citizen-centric institution,” he said.

He said that the commendable milestones achieved in 2024 embody LASTMA’s steadfast commitment to its mission of cultivating safer roads and an efficient traffic management system in Lagos State.

He said the agency remained resolute in harnessing advanced technology, fostering public collaboration, and enhancing the proficiency of its personnel to deliver unparalleled traffic management services.

Bakare-Oki extended heartfelt appreciation to the general public particularly motoring public for their unwavering cooperation and reiterated LASTMA’s resolve to uphold its dedication to excellence in service delivery.

(NAN)

FULL LIST: Telcos to disconnect Nine banks USSD codes January 27

Posted on January 16, 2025 by Newsaccessadmin

Telecommunication companies acting under the directive of the Nigerian Communications Commission (NCC), in a notice on Wednesday said it will cut off the Unstructured Supplementary Service Data (USSD) access of nine banks over their inability to settle a N160 billion debt that has accumulated since 2019.

According to the NCC, telcos will disconnect the USSD access of these banks by Monday, January 27, 2025, if they do not pay their debt.

“In fulfilment of its consumer protection mandate, the Commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025,” the NCC said.

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Here are the banks and their USSD codes:

1. Fidelity Bank Plc (770),

2. First City Monument Bank (329),

3. Jaiz Bank Plc (773),

4. Polaris Bank Limited (833),

5. Sterling Bank Limited (822),

6. United Bank for Africa Plc (919),

7. Unity Bank Plc (7799),

8. Wema Bank Plc (945), and

9. Zenith Bank Plc (966).

FULL LIST: Wike revokes 568 land allocations over unpaid C-of-O fees

Posted on January 16, 2025 by Newsaccessadmin

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revoked the allocation of 568 plots of land in Abuja’s Maitama II, Cadastral Zone A10, due to non-payment of Certificates of Occupancy (C-of-O) fees.

The minister in a public notice, explained that the allottees of the plots of land in Maitama II, Cadastral Zone A10, Abuja, failed to pay for their Certificate of Occupancy (C of O) bills after the expiration of the grace period granted by the minister.

According to the Minister, the revocation is in line with Section 28 of the Land Use Act of 1978, which allows the withdrawal of land allocations when the terms of the grant are not met.

The notice added that only those who had not made full payments by January 15, 2025, would be affected by the decision.

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The notice read, “The Federal Capital Territory Administration (FCTA) wishes to inform the allottee(s)/title holder(s) of plot(s) of land in Maitama II, Cadastral Zone A10, Abuja, who have failed to pay for their Certificate of Occupancy (C of O) bills after the expiration of the grace period granted by the Honourable Minister, Federal Capital Territory, that their Right of Occupancy to the land/property has been withdrawn, pursuant to the provisions of Section 28 of the Land Use Act of 1978 for contravention of the terms of the grant which obligated the title/interest holders to settle all bills.

“The general public is, however, invited to note that allottees/title holders who have completed their payments on or before 15/01/2025 are not affected by this publication.

“For ease of reference, the names of the allottees/title holders whose titles have been withdrawn are: For further information, kindly visit AGIS Website: https://agis.fcta.gov.ng/ or FCTA Website: www.fcta.gov.ng.”

Here is the list of 568 land revoked by Wike over unpaid C-of-O fees

NAPTIP rescued 253 victims in Borno in 2024

Posted on January 16, 2025 by Newsaccessadmin

Maiduguri Zonal Command of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) says it rescued 253 victims of human trafficking and other related offences in 2024.

The Zonal Commander, Mohammed Barde, disclosed this in an interview with the News Agency of Nigeria (NAN) on Thursday in Maiduguri.

He revealed that out of the 253 victims, 163 were minors aged between 0-17 years, comprising 105 females and 58 males, while the remaining 90 were adult men and women.

“In addition to rescuing victims, the command secured nine convictions for various offences in 2024.

“The victims were provided with legal and medical support, rehabilitation, and reintegration services.

“Family tracing and reunification efforts were also carried out, while some of the victims were empowered to rebuild their lives,” Barde said.

Read Also: FULL LIST: Six Nigerian scientists, engineers on Biden’s honours list

He said that the agency was also engaged in preventive measures like extensive sensitization campaigns in markets, schools, communities, and motor parks.

The campaigns, he noted, were aimed at raising awareness of the dangers of human trafficking and other forms of exploitation.

According to Barde, stakeholders engagement remained a key focus area for the command to enhance collaboration in the fight against trafficking.

He commended the support of community leaders, non-governmental organizations, and other stakeholders in the efforts to combat trafficking in persons and ensure the safety of victims.

Barde reiterated NAPTIP’s commitment to intensifying efforts to protect vulnerable individuals and prosecute offenders to create a safer society.

(NAN)

Tinubu congratulates six Nigerian scientists, engineers on Biden’s honours list

Posted on January 16, 2025 by Newsaccessadmin

President Bola Tinubu has congratulated six distinguished Nigerian scientists in the Diaspora, named among the 400 Presidential Early Career Award recipients for Scientists and Engineers in the United States.

The prestigious recognition which was established by former President Bill Clinton in 1996, is the highest honour bestowed by the United States government on outstanding scientists and engineers in the early stages of their careers.

This year’s awardees, announced by President Joe Biden on January 14, 2025, are employed or funded by 14 participating United States government agencies.

In a statement on Thursday, January 15, by his Special Adviser on Information and Strategy, the President commended the Nigerians for their remarkable achievements in science, technology and engineering.

Read Also: Seyi Tinubu: An Inspiring Tale of a ‘Good Samaritan’

The statement added, “The Nigerian honorees include Azeez Butali, Gilbert Lilly Endowed Professor of Diagnostic Sciences, College of Dentistry, University of Iowa; Ijeoma Opara, Associate Professor of Public Health (Social and Behavioral Sciences), Yale School of Public Health, Yale University; and Oluwatomi Akindele, Postdoctoral researcher at Lawrence Livermore National Laboratory.

“Others are Eno Ebong, Associate Professor of Chemical Engineering, Bioengineering, and Biology at Northeastern University; Oluwasanmi Koyejo, Assistant Professor of Computer Science at Stanford University; and Abidemi Ajiboye, Executive Vice Chair of the Case School of Engineering, Department of Biomedical Engineering, Case Western Reserve University.

“The Nigerian leader notes that recognising these exceptional talents underscores Nigerians’ vast potential to excel both at home and on the global stage.

“He looks forward to the honorees sharing their multidisciplinary expertise to benefit Nigeria’s development efforts under the Renewed Hope Agenda.”

Nigerians deserve hardship they are facing – Apostle Suleman

Posted on January 16, 2025 by Newsaccessadmin

Apostle Johnson Suleman, the Senior Pastor of Omega Fire Ministries, has said that Nigerians deserve hardship they currently going through, stating that the sufferings in the country are the result of the bad choices made during the 2023 elections.

Suleman who was in Bauchi State for a two-day “Recovery Conference 2025”, visited the Government House in Bauchi, where he met with the Executive Governor, Senator Bala Mohammed.

Accompanied by his entourage, the Man of God assured the Governor of his continued prayers for the leadership and people of Bauchi State.

However, when asked by journalists during an interview session at the Government House to express his view on the situation in the country, Suleman berated Nigerians for their voting choices.

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He said, “What Nigerians are going through is partly what they deserve. Before the election, we cried out, we screamed, we yelled.

“The man (President Bola Tinubu) who came into leadership had no manifesto— just a sense of entitlement with his ‘it’s my turn’ mantra.”

He lamented the state of the nation under Tinubu’s administration, pointing to policies and the devastating mismanagement of the oil sector.

“The oil sector has been plundered. In the next 10 to 15 years, I don’t think Nigerians will recover from the damage. Now, all we can do is pray,” he stated.

Apostle Suleman also called for Nigerians to reflect on their choices ahead of the 2027 elections, warning, “If they’ve suffered enough by then, perhaps they’ll make better decisions.”