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Embattled crossdresser, Idris Okuneye aka Bobrisky, who was jailed for Naira abuse reportedly donated plastic chairs to the National Correctional Service (NCoS) Kirikiri prison.
It would be recalled that Bobrisky entered a guilty plea in court and was sentenced to six months imprisonment without an option of fine.
The controversial crossdresser appears to have donated plastic chairs for the NCoS Kirikiri’s visitor area, according to recent reports circulating online.
The viral photo of the plastic chairs was captioned: “On behalf of Bobrisky for the National Correctional Service Kirikiri for the visiting area.”
Popular Nigerian actor, Seun Jimoh has disclosed that he had s3x with a movie producer to get a role.
In a video shared by Nollywood actress, Biola Adebayo on Talktobee with Actor Seun Sean Jimoh, the actor opened up about his career and his childhood.
In addition to revealing that he was one of the greatest fathers ever and that he had to have a s3xual relationship with a film director to land a role, Seun Jimoh also disclosed that he was raised by his mother alone without a father.
The man disclosed that he was seeking ways to amuse himself and that a married father of three children also attempted to have fun with him.
See Video Below;
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A bread producing factory in Maisani, Timbuktu Triangle in Damboa Local Government Area of Borno State belonging to ISWAP terrorists has been discovered.
The factory was discovered by troops of Operation Lake Sanity III, Operation Hadin Kai.
A counter-terrorism expert, Zagazola Makama, said intelligence sources told him that the discovery was made by the Combined troops of 199 Special Forces Battalion in conjunction with Hybrid Forces and Civilian JTF during its exploitation into the terrorists’ den on Sunday.
Posting on X, Makama said “the sources said the factory was destroyed while items recovered include 2 Lister generating plants, 1 baking machine and several baking materials.”
Makama further disclosed that the “week-long clearance operation was marked by a total decimation of the terrorists from its stronghold in the Timbuktu Triangle, comprising Buk, 1, 2 and 3, Talala, Ajigin, Dusula, Abulam, Gorgi, in the dreaded Timbuktu Triangle.”
A 22-year-old man, Ernest Okemute, has been arrested by the Delta State Police Command over the alleged assault of his girlfriend in the Orokpor community in Ughelli North Local Government Area of the state.
A Nigerian activist, Kelvin Ejumudo, who confirmed the incident in a Facebook post on Sunday, April 21, 2024, alleged that the suspect beat Precious Ekarume who is pregnant for him, with a belt and stick because she refused to terminate the pregnancy.
According to Mr Ejumudo, the suspect had boasted that nothing would happen to him even if he killed his girlfriend.
His post read;
“Violence against women is Prohibited! One Mr Ernest Okemute 32 years old has beaten his girlfriend, Miss Precious Ekarume in Orokpor community in Ughelli North Local Government Area of Delta state.”
The boyfriend beat her up because she was pregnant for him and he has forced her to ab*rt the pregnancy and she refused and has also told her to stop talking with a woman in the compound.
She was beaten to stupor by the boyfriend with belt and stick and told her nothing will happen even if he kills her.
The lady was able to reach out to me via the help of community leaders and I immediately swing into action with the help of the Area commander Ughelli Nigeria Police Force Delta State Command ACP ADEMOLA ADEBAYOR who detailed police officers for his arrest.
Mr Ernest Okemute is cooling off at the Police cell in Ughelli Area command and will be charged to court soonest. We have a law in Delta state called Violence Against persons act 2022,hence nobody has the monopoly of violence on any other person within the state''.
An All Progressives Congress (APC) chieftain and coordinator of the Tinubu/Shettima 2023 Presidential Campaign in Zamfara State, Senator Kabiru Marafa, has countered the claim by minister of state for defence, Mr Bello Matawalle, that Northern Elders Forum are a political burden to the North and paperweights.
Matawalle had, in a statement with the title, ‘Tinubu Presidency: Northern Elders Forum, a political burden to the North, they do not speak for the region’, described the Northern Elders as ‘paperweights and a burden’.
But Marafa, in a statement, said rather than portray the Northern elders in a negative light, Matawalle should have listed the achievements, programmes and policies, projects of President Bola Tinubu in the North and the country as a whole in the first 10 months of the administration.
He said calling the elders of the region, which gave the highest number of votes to ensure presidential victory for the Tinubu, was counterproductive and a great disservice to the president, “who is working tirelessly towards addressing the numerous challenges facing all segments and sectors of the country, among them terrorism, insurgency, economic and financial malfeasance and infrastructural decay, to list a few.”
Marafa said President Tinubu needs support, loyalty and hard work from his appointees to actualise the Renewed Hope Agenda, not sycophancy and unguarded statements.
Marafa, who represented Zamfara Central Senatorial District (2011 -2019) called on the minister to withdraw the offensive statement and tender, without delay, an unreserved apology to the Northern elders and northerners in general.
“In the last one week, I have been inundated with calls from well-meaning and prominent stakeholders in our region and party, the APC, who know my relationship with the President.
“They are worried and disturbed that the unfortunate statement by the Minister of State for Defence, if not addressed, could affect the president’s electoral fortunes in our region because it will be seen as if the minister spoke the mind of the president or the Presidency.
“The crux of the matter is that; whether you like them or not these people are called Northern Elders, so, unless they are stripped of that title by the people of the region, insulting them is tantamount to insulting the entire people of the region.
“It’s not in our culture and upbringing to insult elders. No descent society will refer to its elders as a burden and paperweights. The North is not an exception.
“HAs one of the senators who worked very closely with Asiwaju as party leader (as he was then called) from the formation of APC through the primaries that led to the emergence of General Muhammadu Buhari as APC presidential candidate in Lagos, the politics of the National Assembly leadership in 2015 and 2019 and the processes and intrigues that characterised the 2023 Presidential Primaries, I can say without mincing words that President Tinubu holds the North, the Northerners, and their leaders in high esteem.
“Although, I’m not the mouthpiece of either the president or the Presidency, as a Northerner and an elder in the region, as an APC stakeholder and one that has worked closely with both the president and the Vice President, I want to state categorically that this view expressed by Mr Matawalle is his personal opinion and not in any way that of Mr President or the Presidency, and should, therefore, be disregarded.
“I know for sure that the North, Northerners and the Northern elders are neither a burden nor a paperweight in the scheme of things in the region and the country as a whole. The president shares this view, and therefore he is with me on this,” Marafa said.people no
With the flashlights of the Economic and Financial Crimes Commission on abusers of Naira, Nigerians have devised new methods to ensure that the funfair that comes with the spraying of naira at social functions remains.
Nigerians became conscious of the seriousness of the crimes when the anti-graft agency made a statement with a controversial cross-dresser, Idris Okuneye, aka Bobrisky, who was sentenced to six months imprisonment without the option of fine for abusing the Naira.
Earlier in February 2024, actress, Oluwadarasimi Omoseyin, was convicted and sentenced to six months in prison for defacing the naira notes by spraying and stepping on them at a social event in Lagos.
After Bobrisky’s conviction a socialite, Pascal Okechukwu, aka Cubana Chief Priest, got a N10m bail after he pleaded ‘not guilty’ to a charge of abusing the Naira.
After the former’s conviction and the latter’s trial, PUNCH Online presents a list of nine actions involving the naira that could lead to legal consequences.
In the report, The PUNCH listed spraying, writing, tearing, stapling, dancing or stamping on the naira, selling, mutilating, rejecting the naira, and money bouquets as actions involving the naira that could lead to legal consequences.
The Clean Notes Policy of the Central Bank of Nigeria was implemented to enhance the visual appeal and durability of the banknotes in circulation, as stated on the official website of the apex bank.
According to the CBN, the objective is to guarantee that the naira banknotes in circulation maintain a high standard of quality, enabling them to be easily processed and accepted by the general public.
But in beating the offences, partygoers and musicians have invented new ways of spraying the naira.
With the invention, some musicians have applauded the EFCC’s recent move to enforce the ban on abuse of the Naira.
Though many believe that the ban on spraying money at parties will affect musicians, especially indigenous ones, some of them have said it is a good development.
In separate interviews with one of our correspondents, popular musicians— Wasiu Alabi, aka Pasuma; Saheed Osupa, and Adewale Ayuba— maintained that the country’s currency had to be respected.
Here are some of the ways invented by partygoers to spray money at social functions.
Money boxes: Usually used by musicians, boxes are now permanent features of social functions in Nigeria provided by celebrants or musicians for attendees who rather than spray money would just drop their wads of cash to honour the celebrants or appreciate the craft of musicians.
Bank transfer: Guests at weddings, burial ceremonies, and birthdays among others now transfer money through their banks’ apps to celebrants while on dance floors to replace the amount that should have been sprayed on the celebrants.
Money vouchers: Partygoers of any social function can buy the equivalent amount they intend to ‘spray’ celebrants as money vouchers and transfer the cash equivalent to the agent’s account (event planners).
For the money vouchers, the images of the celebrant or event host are printed on the notes. The common denominations are N1000 and N500 notes.
Residents of Ilorin, the Kwara State capital, are in a joyful mood following the recent crash in the price of rice in the state.
The price of rice, which is a staple food for most families and individuals, has decreased significantly in the state, with a 50kg bag currently selling for between ₦52,000 and ₦54,000.
This is a sharp decline from the ₦80,000 during the Ramadan period and ₦65,000 just a week ago in various markets throughout Ilorin, the capital of Kwara State.
Some rice vendors who spoke on the new price of rice in Kwara State projected that the price of a 50kg bag of rice may drop as low as ₦30,000 or ₦25,000 in the coming days.
They attributed the price crash to the recent appreciation of the naira against the dollar, along with other contributing factors.
A rice seller in Ilorin, Pastor Adeyanju Adeyemo, who spoke to City & Crime about the reducing prices, said a 50kg bag of rice may as well sell for N25,000 in a month’s time.
“Last week, it was N61,000, but now N54,000. And I have told my customers that with this trend, in another one month, it may drop to N25,000,” he said.
Also, Mr. Abdullateef AbdulAfeez, who confirmed that they are currently retailing a 50kg bag for N52,000, mentioned that they anticipate a drop to N30,000 in the near future due to the prevailing favourable circumstances.
The Independent Petroleum Marketers Association of Nigeria says it is expecting that the Dangote refinery will reduce the price of its diesel further to say about N700 per litre.
The National Vice President of IPMAN, Hammed Fashola, stated this on Wednesday while appreciating the Dangote refinery for reducing the price of diesel from over N1,200 to N1,000.
Fashola, in an interview with our correspondent, maintained that the marketers have high expectations that the price of diesel would still go down.
According to him, the rebound of the naira against the dollar will bring about an appreciable reduction in the diesel price.
“It is a good development, a welcome development. That is what we expected. Even we are still expecting that diesel will still come down more. Because if you look at the dollar rate to the naira now, the currency is doing well against the dollar. The exchange rate now is almost N1,000 on the black market. We still expect that the dollar will come down more,” he stated
The IPMAN boss explained that the price would be reduced because the challenges of shipment, Customs duties and others have been removed since the product is being produced locally.
“When you look at the diesel being produced here, there are lots of factors that have come to play; like the issue of shipment, the issue of tax, Customs and others. All those are not there again. So, we marketers, we are expecting diesel to come to like N700 per litre; that is our prayer and at that level, it will be a blessing to everybody. That is what we are looking at. What we produce here must be quite different from what is imported. That is what we expected,” Fashola submitted.
He spoke further that, “We all supported Dangote, we all prayed for him. We appreciate that the price is coming down, we still expect that the price will come down more and it will be affordable for citizens.
Dangote began the sale of diesel about two weeks ago, crashing the cost of diesel from N1,600/litre to 1,250/litre.
Last Tuesday, the refinery announced another price cut, saying the fuel would now be sold at N1,000/litre.
Analysts list benefits
An economist, Femi Oladele, welcomed the price cut, saying, “This price cut is good news. Production cost should drop significantly and this should also affect the cost of products and services.”
Some businesses that shut down due to exorbitant costs might resurface while new businesses will emerge.”
He also pointed out the potential savings in foreign exchange, which could bolster the nation’s reserves.
The economist expressed optimism about the future, predicting, “If this trajectory continues, we should see a significant increase in economic activities and a drop in inflation.”
Also, an analyst at Sankore Investment Limited, Jonathan Thomas, highlighted the impact of fuel prices on the economy.
“The price of fuel is one of the major determinants of the general price level of goods and services. Petroleum products such as diesel are being used by plants in factories for the production of goods and services. Diesel is also used by heavy vehicles for the transportation of goods and raw materials which are used for production. Therefore, the latest development is expected to impact the total cost of production,” he explained.
Nollywood actress, Stella Udeze has offered a simple explanation as to why some actresses don’t have happy relationships or why their relationships hardly ever work out well.
According to her, it is entirely not the fault of the women but a general perception of women in Nollywood.
“Some actresses don’t seem to have a happy relationship because of trust issues. In Nigeria, 80 percent of men feel that being an actress makes you a prostitute.
“They should learn to differentiate the good from the bad. We can’t deny the fact that we are exposed to the world. I think when people stop to have this impression about them they will realise we can have the best relationships, Udeze explains in a chat with Potpourri.
The actress admits there are bad eggs but refuses to accept that prostitutes and ‘runs girls” have invaded the industry.
“That is why I said earlier that people should learn to differentiate the good from the bad, if truly prostitutes have invaded Nollywood. There are many good women who are wife material as many abound who are enjoying a happy marriage,” she says.
Speaking about herself and how she handles her relationships, states, “I am a woman who focuses her mind differently using her senses in every situation. When things around me feel right I stay, if not, I will kindly walk away.”
Stella Udeze started acting in 2014 and she has featured in movies like “Before Getting Married” “Bleeding king” “A week to my wedding” “Melting point” “Double stud” amongst many others.
The Kenya Police Service has arrested fleeing Binance executive, Nadeem Anjarwalla, as the International Criminal Police Organisation moves to extradite him to Nigeria within the week.
Government sources familiar with the case who spoke on condition of anonymity because they were not authorised to speak on the matter confirmed the development to our correspondent on Sunday night.
One of the sources said, “Binance executive, Nadeem Anjarwalla, has been arrested by the Kenya Police Service, and he would be extradited to Nigeria this week by INTERPOL.”
Another source noted, “As we had said before that Anjarwalla would be extradited, he has been arrested in Kenya, and he’ll be extradited to Nigeria this week.”
The PUNCH had exclusively reported that the Federal Government had traced Anjarwalla to Kenya, following his escape from lawful custody in Nigeria.
Following the development, the Economic and Financial Crimes Commission, the International Criminal Police, the Nigeria Police Force, and the Kenyan Police Service have deepened talks to quicken Anjarwalla’s extradition.
In the earlier report, Saturday PUNCH reported that Anjarwalla, whose cover has now been blown, went into hiding immediately after he landed in Kenya.
“We have found him. We know where he is; he is in Kenya, and we’re working with the authorities to bring him back to Nigeria.
“All hands are on the deck, the government and all the security agencies are working hard in conjunction with the Kenyan authorities and INTERPOL, to ensure his return to Nigeria to face the charges brought against him,” the report had quoted a source as saying.
Meanwhile, the EFCC Chairman, Ola Olukoyede, had in the March edition of its bulletin titled, “EFCC Alert,” onfirmed that the commission was working in conjunction with the International Criminal Police Organisation, the United States’ Federal Bureau of Investigation, the governments of the United Kingdom, Northern Ireland, and Kenya to extradite Anjarwalla.
Olukoyed said, “The takeover of the prosecution of Binance chiefs by the commission is no less a strong message in the direction of EFCC’s resolve to hedge in distortions and disruptions in the country’s forex market.
“Tax evasion, currency speculation, and money laundering to the tune of $35,400,000 and are at the foundation of the Commission’s five counts against Binance Holdings Limited, Tigran Gambaryan and Nadeem Anjarwalla, the company’s chief executives.
“While Gambaryan is currently in the Commission’s net, the process of extraditing the fleeing Anjarwalla is revving in full swing. Involved in partnership with the EFCC to nick Anjarwalla in flight are the International Criminal Police Organisation, the United States Federal Bureau of Investigation, the governments of the United Kingdom, Northern Ireland, and Kenya as the clock winds down to his arraignment in absentia alongside the company and Gambaryan.”
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Nollywood actress and filmmaker, Toyin Abraham has sent a message to her colleague, Funke Akindele.
Speaking via a lengthy Instagram post, Abraham praised Akindele for her hard work and for setting a pace in the industry.
The thespian lamented that she and Akindele became competitors and “persona non grata” due to gossip.
Abraham said their rivalry began in the Yoruba movie industry and carried over to Nigerian-English cinema when they moved to Nollywood.
The thespian said she and Akindele are competitive women who love to win, and in the process, they splash dirt on each other.
Abraham, however, said age and wisdom have made her realize that they can compete without being negatively competitive.
She wrote, “In the English industry, Aunty Funke and I continued the rivalry sort of. It pitted our fans against each other. We are two competitive Virgo women, we love to win and sometimes in that process, we splash dirt and mud. But with time, age, and more wisdom, I have realized we can compete without being negatively competitive.
“Aunty Funke, I celebrate you for showing us what is possible. You are a winner. You sold over 1B, you made it possible for other women to dream. You ran us street with that 1B o, this year, many of us will move to 1B and we pray God makes you bigger. Thank you for making great movies and selling them like your life depends on it. You taught other women to hustle harder.
“I had set records in box office records, and Aunty came and beat them today I am happy because she has challenged me to set higher goals. Sis, let’s compliment each other even in competition at the box office, I owe you one post in December (only 1 o, I need to sell market…Lol). I pray that God will make all your dreams come true. I admire you and wish you all the best.”
A former presidential aide, Reno Omokri, has contrasted the leadership of former Anambra State Governor, Peter Obi, with that of the Chairman of Eti-Osa Local Government Area in Lagos State, asserting the latter’s administration as superior.
Obi served as the Anambra State Governor from June 2007 to March 2014.
“The Chairman of Eti-Osa Local Government Area in Lagos State has more achievements in governance than Peter Obi,” Omokri said in an interview on the ‘Mic On Podcast’ programme hosted by a Channels Television’s journalist, Seun Okinbaloye, late Saturday.
“I know for a fact that the Eti-Osa Local Government Chairman has built at least, to my knowledge, three schools,” Omokri affirmed.
The social media influencer also challenged the Obidients – adherents of Obi, to mention a school built by the latter in his eight years as governor of the Southeastern state.
He noted that while Obi was the Anambra State Governor, he didn’t start, complete and inaugurate a school.
Omokri said, “I am giving a challenge. I will give any (Obidient) $10,000 if they can name one school that Peter Obi started, completed and commissioned while he was governor,” debunking views that Obi was better than former Kano State Governor, Rabiu Kwankwaso and President Bola Tinubu in terms of infrastructural developments.
Upon Obi’s end of tenure as the state governor in 2014, he joined the Peoples Democratic Party to run as a running mate to the party’s presidential candidate, Atiku Abubakar, in the 2019 presidential election.
The election was later lost to former President Muhammadu Buhari under the ruling All Progressives Congress.
Omokri, a former aide to erstwhile President Goodluck Jonathan, recalled how he encouraged Obi to tread “the best path” for his presidential ambition.
“…Peter Obi cannot deny that I was the one who recommended him to Waziri Atiku Abubakar. Waziri Atiku Abubakar asked me to help him to choose a running mate.
“I called former President Jonathan, I discussed with him. Former President Jonathan told me, ‘Look, it must be Peter Obi’ and then I told former President Jonathan that I can’t just give this man only one name and so we padded the list with some other people’s names and then we put Peter Obi’s name and made it so rosy.
“And, Waziri Atiku Abubakar chose Peter Obi,” the social media influencer stated, adding that “Peter Obi was the best person at that time.”
However, Omokri lamented that despite his efforts, Obi didn’t heed his advice.
He said, “I told Peter Obi that the best path to the presidency for him is to run as Waziri Atiku Abubakar’s running mate and then be loyal to him.
“And then, when Waziri finishes his tenure, naturally the baton will change from the present to him. He didn’t listen to me.”
The former presidential aide noted that Obi wasn’t posited to win the 2023 election but rather, he (Obi) would “split the Peoples Democratic Party votes and make it possible for Bola Tinubu to win.
“If you contest, you are not going to win. The only thing that you’re going to achieve in contesting is that you are going to split the People’s Democratic Party votes and make it possible for Bola Tinubu to win,” Omokri added.
“In terms of education, Peter Obi is the least educationally qualified among the others. In terms of achievement while in office, he doesn’t come close to any of Tinubu and Atiku at all.
“At the end of the day, if you hold the presidential election 10 times, Peter Obi is still not going to win,” Omokri added.
Obi contested for the presidency in the 2023 election as the Labour Party’s candidate. Both he and Abubakar eventually lost to Tinubu.
Omokri also dismissed reports that he wasn’t supposed to make comments bordering on the nation’s economic challenges, saying that he doesn’t live in the country.
While reacting to this, he said, “I’m an employer of labour in Nigeria,” saying that his critics should visit the Corporate Affairs Commission to verify.
The Islamic State’s West Africa Province (ISWAP), has reportedly concluded plans to launch a radio station for the use of the terrorist group.
Naija News understands the plan of the ISWAP group is to set up an online radio station to spread its propaganda.
Counter-insurgency expert Zagazola Makama revealed the news on Sunday in a post via his X account. He stated that the group’s plan is to set up a radio service in KANGARWA and broadcast in Hausa, Arabic, and Kanuri.
Makama, in his post, raised concerns about the implications of the plan by the ISWAP terrorist group as the move is a strong signal to authorities in the sub-region that the insurgency has continued to be dynamic in adopting various means of propaganda.
“The recruitment pace of the insurgency has still not been effectively halted and online media propaganda by the terror group has continued to play a key role in ensuring that the terrorist groups remain visible.
“This is effectively drawn by intense propaganda moves in making effort to draw significant attention to the organization’s sustained presence and reach. The attendant effect, continues to imply recycling of fighters as the backbone of ISIS recruitment campaign, support to affiliated groups and directives for full fledged attacks.
“It becomes necessary to sustain effort in INFO OPs as well to bring down and disconnect associated notorious terrorist websites to bolster the network of affiliated group members,” he said.
The Port Harcourt Refining Company (PHRC) is on the brink of commencing production, with oil marketers gearing up to load refined petroleum products, as confirmed by the Nigerian National Petroleum Company Limited.
The anticipation builds as workers hasten preparations under directives aimed at revitalizing the facility’s operations.
Dealers expressed optimism on Friday, projecting potential pricing of N500 per litre for Premium Motor Spirit (PMS), commonly known as petrol, directly from the refinery in Rivers State.
This development is eagerly awaited amid fluctuating fuel prices that have burdened consumers across the country.
Adding to the hopeful outlook, operators are also eyeing the Dangote Petroleum Refinery, which is slated to begin petrol distribution next month.
Currently supplying diesel, the entry of Dangote refinery into the petrol market is expected to further drive down prices, potentially below the N500/litre mark, offering a significant relief to the market.
On Thursday, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Rivers State Branch, during a visit to the PHRC, observed readiness for the refinery to start disbursing refined products imminently.
They anticipate that the refinery might begin operations within the month, a sentiment echoed by IPMAN’s National Public Relations Officer, Chief Ukadike Chinedu.
Chinedu noted that the plant’s completion was largely achieved, confirming Friday’s developments and fueling marketers’ preparations to commence purchasing and loading activities from the refinery.
He highlighted the positive impact expected on fuel pricing, particularly benefiting independent dealers and ultimately consumers.
This revitalization of the PHRC stands as a pivotal moment in Nigeria’s oil and gas sector, promising to stabilize and possibly lower fuel prices, thereby alleviating some economic pressures faced by Nigerians.
Asked whether the refinery has put a price on the PMS to expect from the plant, Ukadike replied, “Not yet. However, NNPC is still giving us PMS at N567.7/litre, so we want to believe that the Port Harcourt refinery should give us the product at N500/litre or less than that.”
Ukadike stated efforts were really ongoing at the plant to begin the production of petrol and other refined products, as recently announced by the NNPC.
Meanwhile, Ukadike also stated that marketers were putting in place measures that would enable them to purchase products in bulk, going by the fact that the Dangote Petroleum Refinery did not sell less than one million litres when it commenced the sale of diesel.
He said, “So when they resume at Port Harcourt refinery and they key into what Dangote has done by selling in bulk, it means that we the independent marketers particularly in the South-East should be able to have a company that can be able to buy up to four/five million litres from the refinery.
“We are also planning to reach NNPC Trading to see whether they will be able to send 20,000 metric tonnes of PMS to our depots, strictly for independent marketers.
“From every indication, the Port Harcourt refinery is almost set to start releasing products. The government has told us that the plant will start production, at least by the end of this month. So we don’t want to be caught unprepared, for instance, if they say we should pay for two million litres and we can’t be able to pay.”
Ukadike also stated that oil marketers were discussing with their banks, adding that the financial institutions “are ready to fund such bulk allocations so that we can be able to distribute it nationwide because we have the reach.”
The oil dealers are also awaiting the potential entry of PMS from the Dangote refinery into the domestic market, with hopes that the company would crash the price of petrol below N500/litre.
The anticipation stemmed from the manners in which the Dangote refinery recently crashed the price of diesel to N1,200/litre in March when the cost of the commodity was around N1,600. The refinery later crashed the price of diesel to N1,000/litre.
The National President, IPMAN, Abubakar Maigandi, said the refinery might sell petrol at N500/litre or below.
Linking this to the rebound of the naira against the dollar, Maigandi told one of our correspondents that the product might be sold at a relatively cheaper price.
While saying the refinery is yet to begin the sale of petrol, the IPMAN president noted: “We are happy the price of diesel is coming down, thanks to Dangote refinery. As for petrol, the sale has not started. We hope petrol too will come down to like N500.
“But if the dollar continues falling, it may go back to the normal rate.”
The Executive Secretary of MEMAN, Clement Isong, said, “I expect the price to be at import parity. Why (will it go down to N500 or low)? Petrol pricing is at the international price. It is based on an international reference. You buy petrol based on a willing-seller, willing-buyer basis.”